Document:

EX-10.1

EXHIBIT 10.1

GENERAL CABLE CORPORATION

2005 STOCK INCENTIVE PLAN

1. Purpose

The General Cable Corporation 2005 Stock Incentive Plan (the “Plan”) is intended to provide
incentives which will attract, retain, motivate and reward highly competent persons as non-employee
directors, executive officers and other key employees of General Cable Corporation (the “Company”)
or any of its subsidiary corporations, limited liability companies or other forms of business
entities now existing or hereafter formed or acquired (“Subsidiaries”), by providing them
opportunities to acquire shares of the common stock, par value $.01 per share, of the Company
(“Common Stock”) or to receive monetary payments based on the value of such shares pursuant to
Awards (as defined in Section 4 below) described herein. Furthermore, the Plan is intended to
assist in further aligning the interests of the Company’s non-employee directors, executive
officers and other key employees with those of its stockholders.

2. Administration

a. The Plan generally shall be administered by a committee (the “Committee”) which shall be
the Compensation Committee of the Board of Directors of the Company (the “Board”) or another
committee appointed by the Board from among its members. Unless the Board determines otherwise,
the Committee shall be comprised solely of not less than two members who each shall qualify as a
(i) “Non-Employee Director” within the meaning of Rule 16b-3(b)(3) (or any successor rule) under
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and (ii) an “outside
director” within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended
(the “Code”), and the regulations thereunder. The Committee is authorized, subject to the
provisions of the Plan, to establish such rules and regulations as it deems necessary for the
proper administration of the Plan and to make such determinations and interpretations and to take
such action in connection with the Plan and any Awards granted hereunder as it deems necessary or
advisable. All determinations and interpretations made by the Committee shall be binding and
conclusive on all participants and their legal representatives. However, the Board shall have the
authority to establish stock grant levels and stock ownership guidelines for the non-employee
directors which shall be reviewed annually in relation to director compensation practices of
comparable companies.

b. No member of the Board, no member of the Committee and no agent of the Committee who is an
employee of the Company shall be liable for any act or failure to act hereunder, except in
circumstances involving his or her bad faith, gross negligence or willful misconduct, or for any
act or failure to act hereunder by any other member or employee or by any agent to whom duties in
connection with the administration of this Plan have been delegated. The Company shall indemnify
members of the Board, members of the Committee and any agent of the Committee who is an employee of
the Company against any and all liabilities or expenses to which they may be subjected by reason of
any act or failure to act with respect to their duties on behalf of the Plan, except in
circumstances involving such person’s bad faith, gross negligence or willful misconduct.

c. The Committee shall have the authority to grant Awards to non-employee directors,
executive officers and other key employees of the Company or any of its Subsidiaries. The
Committee may delegate to one or more of its members, or to one or more agents, such administrative
duties as it may deem advisable, and the Committee, or any person to whom it has delegated duties
as aforesaid, may employ one or more persons to render advice with respect to any responsibility
the Committee or such person may have under the Plan. The Committee may employ such legal or other
counsel, consultants and agents as it may deem desirable for the administration of the Plan and may
rely upon any opinion or computation received from any such counsel, consultant or agent. Expenses
incurred by the Committee in the engagement of such counsel, consultant or agent shall be paid by
the Company or any of its Subsidiaries whose employees have benefited from the Plan, as determined
by the Committee.

3. Participants

Participants shall consist of such non-employee directors, executive officers and other key
employees of the Company or any of its Subsidiaries as the Committee in its sole discretion
determines to be significantly responsible for the success and future growth and profitability of
the Company and whom the Committee may designate from time to time to receive Awards under the
Plan. Designation of a participant in any year shall not require the Committee to designate such
person to receive an Award in any other year or, once designated, to receive the same type or
amount of Award as granted to the participant in any other year. The Committee shall consider such
factors as it deems pertinent in selecting participants and in determining the type and amount of
Awards.

4. Types of Awards and Vesting Restrictions

Awards under the Plan may be granted in any one or a combination of (1) Stock Options, (2)
Stock Appreciation Rights, (3) Stock Awards, (4) Performance Awards and (5) Stock Units (each as
described above an “Award,” and collectively, “Awards”). Stock Awards, Performance Awards and
Stock Units may, as determined by the Committee, in its discretion, constitute Performance-Based
Awards, as described in Section 11 below. Any Award to a participant in the Plan shall be subject
to graded vesting with a minimum vesting period of three years, unless otherwise determined by the
Committee. Awards shall be evidenced by Award agreements (which need not be identical) in such
forms as the Committee may from time to time approve; provided, however, that in the event of any
conflict between the provisions of the Plan and any such agreements, the provisions of the Plan
shall prevail.

5. Common Stock Available Under the Plan

a. Shares Available. The aggregate number of shares of Common Stock that may be subject to
Awards, including shares of Common Stock underlying Stock Options, granted under this Plan shall be
1,800,000 shares of Common Stock, which may be authorized and unissued or treasury shares, subject
to any adjustments made in accordance with Section 12 below.

b. Maximum Limits. The maximum number of shares of Common Stock with respect to which
Awards may be granted or measured to any individual participant under the Term of the Plan during
the Company’s fiscal year shall not exceed 750,000 shares, subject to adjustments made in
accordance with Section 12 below. In addition, the maximum number of shares of common stock which
may be granted to non-employee directors during each five-year period under the Term of the Plan
shall not exceed 400,000 shares, subject to adjustment.

c. Shares Underlying Awards That Again Become Available. Any shares of Common Stock subject
to a Stock Option, Stock Appreciation Right, Stock Award, Performance Award, or Stock Unit which
for any reason are cancelled, forfeited, delivered to the Company as part or full payment for the
exercise of a Stock Option or surrendered to the Company for tax withholding purposes shall again
be available for Awards under the Plan. The preceding sentence shall apply only for purposes of
determining the aggregate number of shares of Common Stock subject to Awards pursuant to Section
5.a above but shall not apply for purposes of determining the maximum number of shares of Common
Stock subject to Awards that any individual participant may receive pursuant to Section 5.b above.

6. Stock Options

a. In General. The Committee is authorized to grant Stock Options to non-employee directors,
executive officers and other key employees of the Company or any of its Subsidiaries and shall, in
its sole discretion, determine such participants in the Plan who will receive Stock Options and the
number of shares of Common Stock underlying each Stock Option. Stock Options may be (i) incentive
stock options (“Incentive Stock Options”) within the meaning of Section 422 of the Code, or (ii)
Stock Options which do not qualify as Incentive Stock Options (“Non-Qualified Stock Options”). The
Committee may grant to any participant one or more Incentive Stock Options, Non-Qualified Stock
Options, or both types of Stock Options. Each Stock Option shall be subject to such terms and
conditions consistent with the Plan as shall be determined by the Committee and as set forth in the
Award agreement. In addition, each Stock Option shall be subject to the following limitations set
forth in this Section 6.

b. Exercise Price. Each Stock Option granted hereunder shall have such per-share exercise
price as the Committee may determine on the date of grant; provided, however, subject to Section
6(e) below, that the per-share exercise price shall not be less than 100 percent of the Fair Market
Value (as defined in Section 17 below) of Common Stock on the date the Stock Option is granted.

c. Payment of Exercise Price. The Stock Option exercise price may be paid in cash or, in the
discretion of the Committee, by the delivery of shares of Common Stock then owned by the
participant for at least six months, by the withholding of shares of Common Stock for which a Stock
Option is exercisable, or by a combination of these methods. In the discretion of the Committee, a
payment may also be made by delivering a properly executed exercise notice to the Company together
with a copy of irrevocable instructions to a broker to deliver promptly to the Company the amount
of sale or loan proceeds to pay the exercise price with the requirement of the broker same day
reconciliation or as otherwise determined by the Company. To facilitate the foregoing, the Company
may enter into agreements for coordinated procedures with one or more brokerage firms. The
Committee may prescribe any other method of paying the exercise price that it determines to be
consistent with applicable law and the purpose of the Plan, including, without limitation, in lieu
of the exercise of a Stock Option by delivery of shares of Common Stock then owned by a participant
for at least six months, providing the Company with a notarized statement attesting to the number
of shares owned, where upon verification by the Company, the Company would issue to the participant
only the number of incremental shares to which the participant is entitled upon exercise of the
Stock Option. In determining which methods a participant may utilize to pay the exercise price,
the Committee may consider such factors as it determines are appropriate; provided, however, that
with respect to Incentive Stock Options, all such discretionary determinations shall be made at the
time of grant and specified in the Award agreement.

d. Exercise Period. Stock Options granted under the Plan shall be exercisable at such time
or times as specified in the Plan and the Award agreement; provided, however, that no Stock Option
shall be exercisable later than ten years after the date it is granted.

e. Limitations on Incentive Stock Options. Incentive Stock Options may be granted only to
participants who are executive officers or other key employees of the Company or any of its
Subsidiaries on the date of grant. The aggregate market value (determined as of the time the Stock
Option is granted) of Common Stock with respect to which Incentive Stock Options (under all option
plans of the Company) are exercisable for the first time by a participant during any calendar year
shall not exceed $100,000. For purposes of the preceding sentence, (i) Incentive Stock Options
shall be taken into account in the order in which they are granted and (ii) Incentive Stock Options
granted before 1995 shall not be taken into account. Incentive Stock Options may not be granted to
any participant who, at the time of grant, owns stock possessing (after the application of the
attribution rules of Section 424(d) of the Code) more than 10 percent of the total combined voting
power of all outstanding classes of stock of the Company or any of its Subsidiaries, unless the
exercise price is fixed at not less than 110 percent of the Fair Market Value of Common Stock on
the date of grant and the exercise of such option is prohibited by its terms after the expiration
of five years from the date of grant of such option. In addition, no Incentive Stock Option shall
be issued to a participant in tandem with a Non-Qualified Stock Option.

7. Stock Appreciation Rights

The Committee is authorized to grant Stock Appreciation Rights to executive officers and other
key employees of the Company or any of its Subsidiaries and shall, in its sole discretion,
determine such executive officers and other key employees who will receive Stock Appreciation
Rights and the number of shares of Common Stock with respect to each Stock Appreciation Right. A
“Stock Appreciation Right” shall mean a right to receive a payment in cash, Common Stock or a
combination thereof, in an amount equal to the excess of (x) the Fair Market Value, or other
specified valuation, of a specified number of shares of Common Stock on the date the Stock
Appreciation Right is exercised over (y) the Fair Market Value, or other specified valuation (which
shall be no less than the Fair Market Value), of such shares of Common Stock on the date the Stock
Appreciation Right is granted, all as determined by the Committee, provided, however, that if a
Stock Appreciation Right is granted retroactively in tandem with or in substitution for a Stock
Option, the designated Fair Market Value in the Award agreement may be the Fair Market Value on the
date such Stock Option was granted. Each Stock Appreciation Right shall be subject to such terms
and conditions consistent with the Plan as shall be determined by the Committee and as set forth in
the Award agreement.

8. Stock Awards

The Committee is authorized to grant Stock Awards to non-employee directors, executive
officers and other key employees of the Company or any of its Subsidiaries and shall, in its sole
discretion, determine such participants in the Plan who will receive Stock Awards and the number of
shares of Common Stock underlying each Stock Award. Each Stock Award shall be subject to such
terms and conditions consistent with the Plan as shall be determined by the Committee and as set
forth in the Award agreement, including, without limitation, restrictions on the sale or other
disposition of such shares, and the right of the Company to reacquire such shares for no
consideration upon termination of the participant’s employment within specified periods. The
Committee may require the participant to deliver a duly signed stock power, endorsed in blank,
relating to Common Stock covered by such Stock Award and/or that the stock certificates evidencing
such shares be held in custody or bear restrictive legends until the restrictions thereon shall
have lapsed. The Award agreement shall specify whether the participant shall have, with respect to
the shares of Common Stock subject to a Stock Award, all of the rights of a holder of shares of
Common Stock, including the right to receive dividends and to vote the shares.

9. Performance Awards

a. In General. The Committee is authorized to grant Performance Awards to executive officers
and other key employees of the Company or any of its Subsidiaries and shall, in its sole
discretion, determine such executive officers and other key employees who will receive Performance
Awards and the number of shares of Common Stock or Stock Units (as described in Section 10 below)
that may be subject to each Performance Award. Each Performance Award shall be subject to such
terms and conditions consistent with the Plan as shall be determined by the Committee and as set
forth in the Award agreement. The Committee shall set performance targets at its discretion which,
depending on the extent to which they are met, will determine the number and/or value of
Performance Awards that will be paid out to the participants, and may attach to such Performance
Awards one or more restrictions. Performance targets may be based upon, without limitation,
Company-wide, divisional and/or individual performance.

b. Adjustment of Performance Targets. With respect to those Performance Awards that are not
intended to qualify as Performance-Based Awards (as described in Section 11 below), the Committee
shall have the authority at any time to make adjustments to performance targets for any outstanding
Performance Awards which the Committee deems necessary or desirable unless at the time of
establishment of goals the Committee shall have precluded its authority to make such adjustments.

c. Payout. Payment of earned Performance Awards may be made in shares of Common Stock or in
cash and shall be made in accordance with the terms and conditions prescribed or authorized by the
Committee. The participant may elect to defer, or the Committee may require or permit the deferral
of, the receipt of Performance Awards upon such terms as the Committee deems appropriate.

10. Stock Units

a. In General. The Committee is authorized to grant Stock Units to executive officers and
other key employees of the Company or any of its Subsidiaries and shall, in its sole discretion,
determine such executive officers and other key employees who will receive Stock Units and the
number of shares of Common Stock with respect to each Stock Unit. The Committee shall determine
the criteria for the vesting of Stock Units. A Stock Unit granted by the Committee shall provide
payment in shares of Common Stock at such time as the Award agreement shall specify. Shares of
Common Stock issued pursuant to this Section 10 may be issued with or without other payments
therefor as may be required by applicable law or such other consideration as may be determined by
the Committee. The Committee shall determine whether a participant granted a Stock Unit shall be
entitled to a Dividend Equivalent Right (as defined below). Each Stock Unit shall be subject to
such terms and conditions consistent with the Plan as shall be determined by the Committee and as
set forth in the Award agreement.

b. Payout. Upon vesting of a Stock Unit, unless the Committee has determined to defer
payment with respect to such unit or a participant has elected to defer payment under Section 10(c)
below, shares of Common Stock representing the Stock Units shall be distributed to the participant
unless the Committee, with the consent of the participant, provides for the payment of the Stock
Units in cash or partly in cash and partly in shares of Common Stock equal to the value of the
shares of Common Stock which would otherwise be distributed to the participant.

c. Deferral. Prior to the year with respect to which a Stock Unit may vest, the participant
may elect, upon such terms as the Committee deems appropriate, not to receive Common Stock upon the
vesting of such Stock Unit and for the Company to continue to maintain the Stock Unit on its books
of account. In such event, the value of a Stock Unit shall be payable in shares of Common Stock
pursuant to the agreement of deferral.

d. Definitions. A “Stock Unit” shall mean a notional account representing one share of
Common Stock. A “Dividend Equivalent Right” shall mean the right to receive the amount of any
dividend paid on the share of Common Stock underlying a Stock Unit, which shall be payable in cash
or in the form of additional Stock Units.

11. Performance-Based Awards

a. In General. All Stock Options and Stock Appreciation Rights granted under the Plan, and
certain Stock Awards, Performance Awards, and Stock Units granted under the Plan, and the
compensation attributable to such Awards, are intended to (i) qualify as Performance-Based Awards
(as defined in the next sentence) or (ii) be otherwise exempt from the deduction limitation imposed
by Section 162(m) of the Code. Certain Awards granted under the Plan may be granted in a manner
such that Awards qualify as “performance-based compensation” (as such term is used in Section
162(m) of the Code and the regulations thereunder) and thus be exempt from the deduction limitation
imposed by Section 162(m) of the Code (“Performance-Based Awards”). Awards shall only qualify as
Performance-Based Awards if at the time of grant the Committee is comprised solely of two or more
“outside directors” (as such term is used in Section 162(m) of the Code and the regulations
thereunder).

b. Stock Options and Stock Appreciation Rights. Stock Options and Stock Appreciation Rights
granted under the Plan with an exercise price at or above the Fair Market Value of Common Stock on
the date of grant should qualify as Performance-Based Awards.

c. Other Awards. Stock Awards, Performance Awards, and Stock Units granted under the Plan
should qualify as Performance-Based Awards if, as determined by the Committee, in its discretion,
either the granting or vesting of such Award is subject to the achievement of a performance target
or targets based on one or more of the performance measures specified in Section 11(d) below. With
respect to such Awards intended to qualify as Performance-Based Awards:

(1) the Committee shall establish in writing (x) the objective performance-based goals
applicable to a given period and (y) the individual employees or class of employees to which such
performance-based goals apply no later than 90 days after the commencement of such period (but in
no event after 25 percent of such period has elapsed);

(2) no Performance-Based Awards shall be payable to or vest with respect to, as the case may
be, any participant for a given period until the Committee certifies in writing that the objective
performance goals (and any other material terms) applicable to such period have been satisfied; and

(3) after the establishment of a performance goal, the Committee shall not revise such
performance goal or increase the amount of compensation payable thereunder (as determined in
accordance with Section 162(m) of the Code) upon the attainment of such performance goal.

d. Performance Measures. The Committee may use the following performance measures (either
individually or in any combination) to set performance targets with respect to Awards intended to
qualify as Performance-Based Awards: net sales; pretax income before allocation of corporate
overhead and bonus; budget; earnings per share; net income; division, group or corporate financial
goals; return on stockholders’ equity; return on assets; attainment of strategic and operational
initiatives; appreciation in and/or maintenance of the price of Common Stock or any other
publicly-traded securities of the Company; market share; gross profits; earnings before interest
and taxes; earnings before interest, taxes, depreciation and amortization; economic value-added
models; comparisons with various stock market indices; and/or reductions in costs.

12. Adjustment Provisions

If there shall be any change in Common Stock of the Company, through merger, consolidation,
reorganization, recapitalization, stock dividend, stock split, reverse stock split, split up,
spinoff, combination of shares, exchange of shares, dividend in kind or other like change in
capital structure or distribution (other than normal cash dividends) to stockholders of the
Company, an adjustment shall be made to each outstanding Stock Option and Stock Appreciation Right
such that each such Stock Option and Stock Appreciation Right shall thereafter be exercisable for
such securities, cash and/or other property as would have been received in respect of Common Stock
subject to such Stock Option or Stock Appreciation Right had such Stock Option or Stock
Appreciation Right been exercised in full immediately prior to such change or distribution, and
such an adjustment shall be made successively each time any such change shall occur. In addition,
in the event of any such change or distribution, in order to prevent dilution or enlargement of
participants’ rights under the Plan, the Committee shall have the authority to adjust, in an
equitable manner, the number and kind of shares that may be issued under the Plan, the number and
kind of shares subject to outstanding Awards, the exercise price applicable to outstanding Awards,
and the Fair Market Value of Common Stock and other value determinations applicable to outstanding
Awards. Appropriate adjustments may also be made by the Committee in the terms of any Awards under
the Plan to reflect such changes or distributions and to modify any other terms of outstanding
Awards on an equitable basis, including modifications of performance targets and changes in the
length of performance periods. In addition, other than with respect to Stock Options, Stock
Appreciation Rights and other Awards intended to constitute Performance-Based Awards, the Committee
is authorized to make adjustments to the terms and conditions of, and the criteria included in,
Awards in recognition of unusual or nonrecurring events affecting the Company or any of its
Subsidiaries or the financial statements of the Company, or in response to changes in applicable
laws, regulations, or accounting principles. Notwithstanding the foregoing, (i) any adjustment
with respect to an Incentive Stock Option shall comply with the rules of Section 424(a) of the
Code, and (ii) in no event shall any adjustment be made which would render any Incentive Stock
Option granted hereunder other than an incentive stock option for purposes of Section 422 of the
Code.

13. Change In Control

a. Accelerated Vesting. Notwithstanding any other provision of this Plan, if there is a
Change in Control of the Company (as defined in Section 13(b) below), all unvested Awards granted
under the Plan shall become fully vested immediately upon the occurrence of the Change of Control
and such vested Awards shall be paid out or settled, as applicable, within 60 days upon the
occurrence of the Change of Control, subject to requirements of applicable laws and regulations.

b. Definition. For purposes of this Section 13, (i) if there is an employment agreement or a
change-in-control agreement between the participant and the Company or any of its Subsidiaries in
effect, “Change in Control” shall have the same definition as the definition of “change in control”
contained in such employment agreement or change-in-control agreement, or (ii) if “Change in
Control” is not defined in such employment agreement or change-in-control agreement, or if there is
no employment agreement or change-in-control agreement between the participant and the Company or
any of its Subsidiaries in effect, a “Change in Control” of the Company shall be deemed to have
occurred upon any of the following events:

(1) any person or other entity (other than any of the Company’s Subsidiaries or any employee
benefit plan sponsored by the Company or any of its Subsidiaries) including any person as defined
in Section 13(d)(3) of the Exchange Act, becomes the beneficial owner, as defined in Rule 13d-3
under the Exchange Act, directly or indirectly, of more than 35 percent of the total combined
voting power of all classes of capital stock of the Company normally entitled to vote for the
election of directors of the Company (the “Voting Stock”);

(2) the stockholders of the Company approve the sale of all or substantially all of the
property or assets of the Company and such sale occurs;

(3) the Company’s Common Stock shall cease to be publicly traded;

(4) the stockholders of the Company approve a consolidation or merger of the Company with
another corporation (other than with any of the Company’s Subsidiaries), the consummation of which
would result in the stockholders of the Company immediately before the occurrence of the
consolidation or merger owning, in the aggregate, less than 51 percent of the Voting Stock of the
surviving entity, and such consolidation or merger occurs; or

(5) a change in the Company’s Board occurs with the result that the members of the Board on
the Effective Date (as defined in Section 25(a) below) of the Plan (the “Incumbent Directors”) no
longer constitute a majority of such Board, provided that any person becoming a director (other
than a director whose initial assumption of office is in connection with an actual or threatened
election contest or the settlement thereof, including but not limited to a consent solicitation,
relating to the election of directors of the Company) whose election or nomination for election was
supported by two-thirds (2/3) of the then Incumbent Directors shall be considered an Incumbent
Director for purposes hereof.

c. Cashout. The Committee, in its discretion, may determine that, upon the occurrence of a
Change in Control of the Company, each Stock Option and Stock Appreciation Right outstanding
hereunder shall terminate and such holder shall receive, within 60 days upon the occurrence of the
Change of Control, with respect to each share of Common Stock subject to such Stock Option or Stock
Appreciation Right, an amount equal to the excess of the Fair Market Value of such shares of Common
Stock immediately prior to the occurrence of such Change in Control over the exercise price per
share of such Stock Option or Stock Appreciation Right; such amount to be payable in cash, in one
or more kinds of property (including the property, if any, payable in the transaction) or in a
combination thereof, as the Committee, in its discretion, shall determine.

14. Termination of Employment

a. Subject to any written agreement between the participant and the Company or any of its
Subsidiaries, if a participant’s employment is terminated due to death or disability:

(1) all unvested Stock Awards and all unvested Stock Units held by the participant on the
date of the participant’s death or the date of the termination of his or her employment as the case
may be, shall immediately become vested as of such date;

(2) all unexercisable Stock Options and all unexercisable Stock Appreciation Rights held by
the participant on the date of the participant’s death or the date of the termination of his or her
employment, as the case may be, shall immediately become exercisable as of such date and shall
remain exercisable until the earlier of (i) the end of the one-year period following the date of
the participant’s death or the date of the termination of his or her employment, as the case may
be, or (ii) the date the Stock Option or Stock Appreciation Right would otherwise expire;

(3) all exercisable Stock Options and all exercisable Stock Appreciation Rights held by the
participant on the date of the participant’s death or the date of the termination of his or her
employment, as the case may be, shall remain exercisable until the earlier of (i) the end of the
one-year period following the date of the participant’s death or the date of the termination of his
or her employment, as the case may be, or (ii) the date the Stock Option or Stock Appreciation
Right would otherwise expire; and

(4) all unearned and/or unvested Performance Awards held by the participant on the date of
the participant’s death or the date of the termination of his or her employment, as the case may
be, shall immediately become earned or vested as of such date and shall be paid out and/or settled
based on the participant’s performance immediately prior to the date of the participant’s death or
the date of the termination of his or her employment on a pro-rated basis with a minimum of at
least one year into a performance period.

b. Subject to any written agreement between the participant and the Company or any of its
Subsidiaries, if a participant’s employment is terminated by the Company for Cause (as defined in
Section 14(f) below), all Awards, whether or not vested, earned or exercisable, held by the
participant on the date of the termination of his or her employment for Cause shall immediately be
forfeited by such participant as of such date.

c. Subject to any written agreement between the participant and the Company or any of its
Subsidiaries, if a participant’s employment is terminated for any reason, including, without
limitation, retirement, other than for Cause or other than due to death or disability:

(1) all unvested, unearned or unexercisable Awards held by the participant on the date of the
termination of his or her employment shall immediately be forfeited by such participant as of such
date; and

(2) all exercisable Stock Options and all exercisable Stock Appreciation Rights held by the
participant on the date of the termination of his or her employment shall remain exercisable until
the earlier of (i) the end of the 90-day period following the date of the termination of the
participant’s employment, or (ii) the date the Stock Option or Stock Appreciation Right would
otherwise expire.

d. Notwithstanding anything contained in the Plan to the contrary, the Committee may, in its
discretion, provide that:

(1) any or all unvested Stock Awards and/or any or all unvested Stock Units held by the
participant on the date of the participant’s death and/or the date of the termination of the
participant’s employment shall immediately become vested as of such date;

(2) any or all unexercisable Stock Options and/or any or all unexercisable Stock Appreciation
Rights held by the participant on the date of the participant’s death and/or the date of the
termination of his or her employment shall immediately become exercisable as of such date and shall
remain exercisable until a date that occurs on or prior to the date the Stock Option or Stock
Appreciation Right is scheduled to expire, provided, however, that Incentive Stock Options shall
remain exercisable not longer than the end of the 90-day period following the date of the
termination of the participant’s employment;

(3) any or all exercisable Stock Options and/or any or all exercisable Stock Appreciation
Rights held by the participant on the date of the participant’s death and/or the date of the
termination of his or her employment shall remain exercisable until a date that occurs on or prior
to the date the Stock Option or Stock Appreciation Right is scheduled to expire, provided, however,
that Incentive Stock Options shall remain exercisable not longer than the end of the 90-day period
following the date of the termination of the participant’s employment; and/or

(4) a participant shall immediately become vested in all or a portion of any earned
Performance Awards held by such participant on the date of the termination of the participant’s
employment, and such vested Performance Awards (or portion thereof) and/or any unearned Performance
Awards (or portion thereof) held by such participant on the date of the termination of his or her
employment shall immediately become payable to such participant as if all performance goals had
been met as of the date of the termination of his or her employment.

e. Notwithstanding anything contained in the Plan to the contrary, (i) the provisions
contained in this Section 14 shall be applied to an Incentive Stock Option only if the application
of such provision maintains the treatment of such Incentive Stock Option as an Incentive Stock
Option and (ii) the exercise period of an Incentive Stock Option in the event of a termination due
to disability provided in Section 14(a)(3) above shall only apply if the participant’s disability
satisfies the requirement of “permanent and total disability” as defined in Section 22(e)(3) of the
Code.

f. For purposes of this Section 14, (i) if there is an employment agreement between the
participant and the Company or any of its Subsidiaries in effect, “Cause” shall have the same
definition as the definition of “cause” contained in such employment agreement; or (ii) if “Cause”
is not defined in such employment agreement or if there is no employment agreement between the
participant and the Company or any of its Subsidiaries in effect, “Cause” shall include, but is not
limited to:

(1) any willful and continuous neglect of or refusal to perform the employee’s duties or
responsibilities with respect to the Company or any of its Subsidiaries, insubordination,
dishonesty, gross neglect or willful malfeasance by the participant in the performance of such
duties and responsibilities, or the willful taking of actions which materially impair the
participant’s ability to perform such duties and responsibilities, or any serious violation of the
rules or regulations of the Company;

(2) the violation of any local, state or federal criminal statute, including, without
limitation, an act of dishonesty such as embezzlement, theft or larceny;

(3) intentional provision of services in competition with the Company or any of its
Subsidiaries, or intentional disclosure to a competitor of the Company or any of its Subsidiaries
of any confidential or proprietary information of the Company or any of its Subsidiaries; or

(4) any similar conduct, including, without limitation, disparagement of the Company or any
of its Subsidiaries, by the participant with respect to which the Company determines in its
discretion that the participant has terminated employment under circumstances such that the payment
of any compensation attributable to any Award granted under the Plan would not be in the best
interest of the Company or any of its Subsidiaries.

For purposes of this Section 14, the Committee shall have the authority to determine whether
the “Cause” exists and whether subsequent actions on the part of the participant have cured the
“Cause.”

15. Transferability

Each Award granted under the Plan to a participant which is subject to restrictions on
transferability and/or exercisability shall not be transferable otherwise than by will or the laws
of descent and distribution and/or shall be exercisable, during the participant’s lifetime, only by
the participant. In the event of the death of a participant, each Stock Option or Stock
Appreciation Right theretofore granted to him or her shall be exercisable in accordance with
Section 14 above and then only by the executor or administrator of the estate of the deceased
participant or the person or persons to whom the deceased participant’s rights under the Stock
Option or Stock Appreciation Right shall pass by will or the laws of descent and distribution.
Notwithstanding the foregoing, at the discretion of the Committee, an Award (other than an
Incentive Stock Option) may permit the transferability of such Award by a participant solely to
members of the participant’s immediate family or trusts or family partnerships for the benefit of
such persons, subject to any restriction included in the Award agreement.

16. Other Provisions

Awards granted under the Plan may also be subject to such other provisions (whether or not
applicable to the Award granted to any other participant) as the Committee determines on the date
of grant to be appropriate, including, without limitation, for the installment purchase of Common
Stock under Stock Options, for the installment exercise of Stock Appreciation Rights, to assist the
participant, excluding an executive officer or a non-employee director, in financing the
acquisition of Common Stock, for the forfeiture of, or restrictions on resale or other disposition
of, Common Stock acquired under any form of the Award, for the acceleration of exercisability or
vesting of Awards in the event of a change in control of the Company, or to comply with federal and
state securities laws, or understandings or conditions as to the participant’s employment, in
addition to those specifically provided for under the Plan. In addition, except as otherwise
provided herein, a participant may defer receipt or payment of any Award granted under this Plan,
in accord with the terms of any deferred compensation plan or arrangement of the Company. The
Committee shall have the authority to retract any Award granted under the Plan in case of a
material restatement of the financial statements of the Company or if it is otherwise determined by
the Committee that the previously granted Award was not earned by the participant.

17. Fair Market Value

For purposes of this Plan and any Awards granted hereunder, Fair Market Value shall be (i) the
closing price of Common Stock on the date of calculation (or on the last preceding trading date if
Common Stock was not traded on such date) if Common Stock is readily tradeable on a national
securities exchange or other market system or (ii) if Common Stock is not readily tradeable, the
amount determined in good faith by the Committee as the fair market value of Common Stock.

18. Withholding

All payments or distributions of Awards made pursuant to the Plan shall be net of any amounts
required to be withheld pursuant to applicable federal, state and local tax withholding
requirements. If the Company proposes or is required to distribute Common Stock pursuant to the
Plan, it may require the participant receiving such Common Stock to remit to it or to the
Subsidiary that employs such participant an amount sufficient to satisfy such tax withholding
requirements prior to the delivery of any certificates for such Common Stock. In lieu thereof, the
Company or the Subsidiary employing the participant shall have the right to withhold the amount of
such taxes from any other sums due or to become due from the Company or the Subsidiary, as the case
may be, to the participant receiving Common Stock, as the Committee shall prescribe. The Committee
may, in its discretion, and subject to such rules as the Committee may adopt (including any as may
be required to satisfy applicable tax and/or non-tax regulatory requirements), permit a participant
to pay all or a portion of the federal, state and local withholding taxes arising in connection
with any Award consisting of shares of Common Stock by electing to have the Company withhold shares
of Common Stock having a Fair Market Value equal to the amount of tax to be withheld, such tax
calculated at rates required by statute or regulation.

19. Tenure

A participant’s right, if any, to continue to serve the Company as a non-employee director,
executive officer, other key employee, or otherwise shall not be enlarged or otherwise affected by
his or her designation as a participant under the Plan.

20. Unfunded Plan

Participants shall have no right, title, or interest whatsoever in or to any investments which
the Company may make to aid it in meeting its obligations under the Plan. Nothing contained in the
Plan, and no action taken pursuant to its provisions, shall create or be construed to create a
trust of any kind, or a fiduciary relationship between the Company and any participant,
beneficiary, legal representative or any other person. To the extent that any person acquires a
right to receive payments from the Company under the Plan, such right shall be no greater than the
right of an unsecured general creditor of the Company. All payments to be made hereunder shall be
paid from the general funds of the Company and no special or separate fund shall be established and
no segregation of assets shall be made to assure payment of such amounts except as expressly set
forth in the Plan. The Plan is not intended to be subject to the Employee Retirement Income
Security Act of 1974, as amended.

21. No Fractional Shares

No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan or any
Award. The Committee shall determine whether cash, or Awards, or other property shall be issued or
paid in lieu of fractional shares or whether such fractional shares or any rights thereto shall be
forfeited or otherwise eliminated.

22. Duration, Amendment and Termination

No Award shall be granted more than ten years after the Effective Date; provided, however,
that the terms and conditions applicable to any Award granted prior to such date may thereafter be
amended or modified by mutual agreement between the Company and the participant or such other
persons as may then have an interest therein. Also, by mutual agreement between the Company and a
participant under this Plan or under any other present or future plan of the Company, Awards may be
granted to such participant in substitution and exchange for, and in cancellation of, any Awards
previously granted to such participant under this Plan, or any other present or future plan of the
Company. The Board or the Committee may amend the Plan from time to time or suspend or terminate
the Plan at any time. However, no action authorized by this Section 22 shall reduce the amount of
any existing Award or change the terms and conditions thereof without the participant’s consent.
No amendment of the Plan shall, without approval of the stockholders of the Company (i) increase
the total number of shares which may be issued under the Plan or the maximum number of shares with
respect to Stock Options, Stock Appreciation Rights and other Awards that may be granted to any
individual under the Plan; (ii) modify the requirements as to eligibility for Awards under the
Plan; or (iii) effect the repricing of Stock Options, as defined in Section 303A.08 or other
applicable section of the New York Stock Exchange Listed Company Manual; provided, however, that no
amendment may be made without approval of the stockholders of the Company if the amendment will
disqualify any Incentive Stock Options granted hereunder.

23. Governing Law

This Plan, Awards granted hereunder and actions taken in connection herewith shall be governed
and construed in accordance with the laws of the Commonwealth of Kentucky (regardless of the law
that might otherwise govern under applicable Kentucky principles of conflict of laws).

24. Severability

In case any provision of this Plan shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or
impaired thereby.

25. Effective Date

a. The Plan shall be effective as of the date on which the Plan is approved by the
stockholders of the Company at an annual meeting or any special meeting of stockholders of the
Company (the “Effective Date”) and such approval of stockholders shall be a condition to the right
of each participant to receive Awards hereunder.

b. This Plan shall terminate on the 10th anniversary of the Effective Date (unless sooner
terminated by the Board).EX-10.2

EXHIBIT 10.2

INCENTIVE STOCK OPTION AGREEMENT

GRANTED TO:

DATE OF GRANT:

GRANTED PURSUANT TO: General Cable Corporation 2005 Stock Incentive Plan

NUMBER OF UNDERLYING SHARES:

EXERCISE PRICE:

VESTING SCHEDULE:

1. This Incentive Stock Option Agreement (the “Agreement”) is made and entered into as of
     (the “Date of Grant”) between General Cable Corporation, a Delaware corporation (the
“Company”), and      , as a participant (the “Participant”) in the General Cable
Corporation 2005 Stock Incentive Plan (the “Plan”), a copy of which is enclosed herewith.
Capitalized terms not defined herein shall have the meanings ascribed thereto in the Plan. It is
the intent of the Company and the Participant that the Option (as defined in Paragraph 2 below)
will qualify as an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986,
as amended from time to time.

2. The Participant is granted an option to purchase      shares of the Common Stock of the
Company (the “Option”). The Option is granted as provided for under the Plan and is subject to the
terms and conditions set forth in the Plan, including, but not limited to, Section 6(e) of the
Plan, and this Agreement. The Option granted hereunder is a matter of separate inducement and is
not in lieu of salary or other compensation for the Participant’s services.

3. The Option’s exercise price is $    per share (the “Exercise Price”).

4. The Option shall become exercisable according to the vesting schedule set forth above and
shall remain exercisable, subject to Paragraph 5 below, until (i) an expiration date resulting from
the termination of the Participant’s employment in accordance with Section 14 of the Plan, or (ii)
a date established by the Committee within 60 days upon the occurrence of the Change in Control of
the Company in accordance with Section 13(a) or 13(c) of the Plan.

5. The Option, unless sooner terminated or exercised in full, shall expire on the tenth
anniversary of the Date of Grant and, notwithstanding anything herein to the contrary, no portion
of the Option may be exercised after such date.

6. During the Participant’s lifetime, the Option shall not be subject in any manner to
alienation, anticipation, sale, assignment, pledge, encumbrance or other transfer and shall be
exercisable only by the Participant. Upon the death of the Participant, (i) the Option shall be
exercisable only by the executor or administrator of the estate of the deceased Participant or the
person or persons to whom the deceased Participant’s rights with respect to the Option shall pass
by will or the laws of descent and distribution and (ii) the Option shall be exercisable in
accordance with Section 14 of the Plan.

7. The Participant may exercise the Option regardless of whether any other option that the
Participant has been granted by the Company remains unexercised. In no event may the Participant
exercise the Option for a fraction of a share or for the lesser of 100 shares or the remaining
exercisable shares.

8. Any notice of exercise of the Option shall be in writing addressed to the Corporate
Secretary of the Company at the principal place of business of the Company, specifying the Option
being exercised and the number of shares to be purchased. The Option’s Exercise Price shall be
paid by the Participant on the date the Option is exercised in accordance with Section 6(c) of the
Plan. Any shares of Common Stock delivered in payment of the Exercise Price shall be valued at
their Fair Market Value on the date the Option is exercised.

9. By his or her acceptance of this Agreement, the Participant agrees to reimburse the Company
for any taxes required by any government to be withheld or otherwise deducted and paid by the
Company with respect to the issuance or disposition of the shares subject to the Option. In lieu
thereof, the Company shall have the right to withhold the amount of such taxes from any other sums
due or to become due from the Company or a Subsidiary, as the case may be, to the Participant. The
Company may, in its discretion, hold the stock certificate or certificates to which the Participant
is entitled upon the exercise of the Option as security for the payment of such withholding tax
liability, until cash sufficient to pay that liability has been accumulated. In addition, at any
time that the Company becomes subject to a withholding obligation under applicable law with respect
to the exercise of the Option (the “Tax Date”), except as set forth below, a holder of the Option
may elect to satisfy, in whole or in part, the holder’s related personal tax liabilities (an
“Election”) by (a) directing the Company to withhold from shares issuable in the related exercise
either a specified number of shares or shares having a specified value (in each case not in excess
of the related personal tax liabilities), (b) tendering shares previously issued pursuant to the
exercise of an Award or other shares of the Company’s Common Stock owned by the holder or (c)
combining any or all of the foregoing Elections in any fashion. An Election shall be irrevocable.
The withheld shares and other shares of Common Stock tendered in payment shall be valued at their
Fair Market Value on the Tax Date. The Committee may disapprove of any Election, suspend or
terminate the right to make Elections or provide that the right to make Elections shall not apply
to particular shares or exercises. The Committee may impose any additional conditions or
restrictions on the right to make an Election as it shall deem appropriate, including any
limitations necessary to comply with Section 16 of the Exchange Act.

10. The Participant shall not have any of the rights of a shareholder with respect to the
shares of Common Stock underlying the Option until the Option is exercised and the Participant
receives such shares.

11. If the Company, in its sole discretion, shall determine that it is necessary, to comply
with applicable securities laws, the certificate or certificates representing the shares purchased
pursuant to the exercise of the Option shall bear an appropriate legend in form and substance, as
determined by the Company, giving notice of applicable restrictions on transfer under or with
respect to such laws.

12. The Participant covenants and agrees with the Company that if, at the time of exercise of
the Option, there does not exist a Registration Statement on an appropriate form under the
Securities Act of 1933, as amended (the “Act”), which Registration Statement shall have become
effective and shall include a prospectus that is current with respect to the shares subject to the
Option, (i) that he or she is purchasing the shares for his or her own account and not with a view
to the resale or distribution thereof, (ii) that any subsequent offer for sale or sale of any such
shares shall be made either pursuant to (x) a Registration Statement on an appropriate form under
the Act, which Registration Statement shall have become effective and shall be current with respect
to the shares being offered and sold, or (y) a specific exemption from the registration
requirements of the Act, but in claiming such exemption, the Participant shall, prior to any offer
for sale or sale of such shares, obtain a favorable written opinion from counsel for or approved by
the Company as to the applicability of such exemption and (iii) that the Participant agrees that
the certificate or certificates evidencing such shares shall bear a legend to the effect of the
foregoing.

13. This Agreement is subject to all terms, conditions, limitations and restrictions contained
in the Plan, which shall be controlling in the event of any conflicting or inconsistent provisions.
In the event, however, of any conflict between the provisions of this Agreement or the Plan and
the provisions of an employment or change-in-control agreement between the Company and the
Participant, the provisions of the latter shall prevail.

14. This Agreement is not a contract of employment and the terms of the Participant’s
employment shall not be affected hereby or by any agreement referred to herein except to the extent
specifically so provided herein or therein. Nothing herein shall be construed to impose any
obligation on the Company to continue the Participant’s employment, and it shall not impose any
obligation on the Participant’s part to remain in the employ of the Company or any of its
Subsidiaries. This Agreement shall be governed by and construed in accord with the laws of the
Commonwealth of Kentucky, excluding principles of conflicts of law.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date written above.

GENERAL CABLE CORPORATION

By:

Name:

Title:

ACCEPTED:

By:

[Insert the name of the Participant]

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