Document:

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                                                                 Exhibit 10.18

         THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE
         HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
         OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS
         AND MAY NOT BE TRANSFERRED UNLESS REGISTERED UNDER SAID ACT
         AND ANY APPLICABLE STATE SECURITIES LAWS UNLESS THE HOLDER OF
         SUCH WARRANT OR SHARES DELIVERS TO THE COMPANY AN OPINION OF
         COUNSEL SATISFACTORY TO THE COMPANY STATING THAT SUCH
         PROPOSED TRANSFER WILL BE MADE PURSUANT TO AN EXEMPTION FROM
         SUCH REGISTRATION REQUIREMENTS.

                         COMMON STOCK PURCHASE WARRANT
                         -----------------------------

Company:                   TRITON NETWORK SYSTEMS, INC., a Delaware corporation
                           ("Company")

Number of Shares:          Such number of shares of Common Stock as shall be
                           equal to 4% of $2,000,000 divided by 90% of the
                           price per share of Common Stock used in a firm
                           underwritten initial public offering of the
                           Company's common stock. In the event the Company has
                           not completed a firm underwritten initial public
                           offering on or before the first anniversary hereof,
                           the number of shares shall be 16,000 shares.

Class of Stock:            Common Stock

Exercise Price:            90% of the price per share of Common Stock used in a
                           firm underwritten initial public offering of the
                           Company's common stock. In the event the Company has
                           not completed a firm underwritten initial public
                           offering on or before the first anniversary hereof,
                           the exercise price shall be equal to the price per
                           share of the securities sold in the Company's most
                           recent equity offering prior to the date of This
                           Warrant, which is $5.00 per share.

Issued as of:              February 25, 2000

Expiration Date:           As described in Section 1

         FOR VALUE RECEIVED in the form of a Commitment Letter dated January
14, 2000 and revised January 20, 2000 from FINOVA Capital Corporation in favor
of the Company, the adequacy and receipt of which are hereby acknowledged,
TRITON NETWORK SYSTEMS, INC., a Delaware corporation, hereby certifies that
FINOVA Capital Corporation, a Delaware corporation, and its successors and
assigns, are entitled to purchase from the Company at any time and from time to
time on and after the date the $2,000,000 Credit Facility becomes available for
use until 6:00 p.m. California local time on the Expiration Date at an Exercise
Price (as described in Section 1), fully paid and nonassessable shares of Common
Stock of the Company, on the terms and conditions hereinafter set forth (the
"Shares"). The number of such shares of Common Stock and the Exercise Price are
subject to adjustment as provided in the Warrant.

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         1.       Certain Definitions.  As used in this Warrant, the following
terms have the following definitions:

                  "Common Stock" means the Company's Common Stock, $0.001 par
value, and includes any common stock of the Company of any class or classes
resulting from any reclassification or reclassifications thereof.

                  "Company" means TRITON NETWORK SYSTEMS, INC., a Delaware
corporation.

                  "Convertible Securities" means evidence of indebtedness,
shares of stock or other securities which are at any time directly or
indirectly convertible into or exchangeable for Additional Shares of Common
Stock.

                  "Current Market Price" of a share of Common Stock or of any
other security as of a relevant date means: (i) the Fair Value thereof as
determined in accordance with clause (ii) of the definition of Fair Value with
respect to Common Stock or any other security that is not listed on a national
securities exchange or traded on the over-the-counter market or quoted on
NASDAQ, and (ii) the closing price on such date (excluding any trades which are
not bona fide arm's length transactions) with respect to Common Stock or any
other security that is listed on a national securities exchange or traded on
the over-the-counter market or quoted on NASDAQ. The closing price for each day
shall be (i) the last sale price of shares of Common Stock or such other
security on such date or, if no such sale takes place on such date, the average
of the closing bid and asked prices thereof on such date, in each case as
officially reported on the principal national securities exchange on which the
same are then listed or admitted to trading, or (ii) if no shares of Common
Stock or if no securities of the same class as such other security are then
listed or admitted to trading on any national securities exchange, the average
of the reported closing bid and asked prices thereof on such date in the
over-the-counter market as shown by NASDAQ or, if no shares of Common Stock or
if no securities of the same class as such other security are then quoted in
such system, as published by the National Quotation Bureau, Incorporated or any
similar successor organization, and in either case as reported by any member
firm of the New York Stock Exchange selected by the Warrantholders.

                  "Exchange" means the Securities Exchange Act of 1934, as
amended.

                  "Exercise Period" means the period commencing on the date
hereof and ending at 6:00 p.m. California local time on the Expiration Date.

                  "Exercise Price" shall have the meaning set forth above.

                  "Expiration Date" means the date that is seven (7) years
after the date hereof.

                  "Fair Value" means: (i) with respect to a share of Common
Stock or any other security, the Current Market Price thereof, and (it) with
respect to any other property, assets, business or entity, or if the Shares
have not been registered under the Securities Act, an amount determined in good
faith by the Board of Directors of the Company.

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                  "Indemnified Party" and "Indemnifying Party" have the
meanings set forth in Section 11(f)(iii).

                  "Registrable Stock" means: (i) all Warrant Shares which are
issuable to the warrantholders pursuant to the Warrants, whether or not the
Warrants have in fact been exercised and whether or not such Warrant Shares
have in fact been issued, (ii) an Warrant Shares acquired by the Warrantholders
pursuant to the Warrants, and (iii) any shares of Common Stock, whether or not
such shares of Common Stock have in fact been issued, and stocks or other
securities of the Company issued upon conversion of, in a stock split or
reclassification of, or a stock dividend or other distribution on, or in
substitution or exchange for, or otherwise in connection with, such Warrant
Shares or in a merger or consolidation involving the Company or its assets;
provided, however, that the foregoing securities shall not be considered
Registrable Stock if they were previously registered pursuant to Section 11
hereunder or if they are transferable without registration pursuant to Rule
144(k) under the Securities Act. For purposes of Section 11, a Warrantholder of
record shall be treated as the record holder of the related Warrant Shares and
other securities issuable pursuant to the Warrants.

                  "SEC" means the Securities and Exchange Commission.

                  "Securities Act" means the Securities Act of 1933, as amended.

                  "Warrant(s)" means this Warrant and any warrants issued in
Exchange or replacement of this Warrant or upon transfer hereof.

                  "Warrantholder(s) and "Holder" means FINOVA Capital
Corporation, a Delaware corporation, and its successors and assigns.

                  "Warrant Shares" means shares of Common Stock issuable to
Warrantholders pursuant to the Warrants.

         1.       Exercise of Warrant. This Warrant may be exercised, in whole
or in part, at any time and from time to time during the Exercise Period by
written notice to the Company (accompanied by physical surrender of this
Warrant) and upon payment to the Company of the Exercise Price (subject to
adjustment as provided herein) for the shares of Common Stock in respect of
which the Warrant is exercised.

         2.       Form of Payout of Exercise Price. Anything contained herein
to the contrary notwithstanding, at the option of the Warrantholders, the
Exercise Price may be paid in any one or a combination of the following forms:
(a) by wire transfer to the Company, (b) by a certified or cashier's check to
the Company, (c) by the cancellation of any indebtedness owed by the Company
and/or any subsidiaries of the Company to the Warrantholder, and/or (d) by the
surrender to the Company of that number of Warrant Shares having a Fair Value
equal to the Exercise Price in accordance with Section 4 below.

         3.       Cashless Exercise. In lieu of exercising this Warrant as
specified in Sections 2 and 3 above, the Warrantholders may from time to time
at the Warrantholders' option convert this Warrant, in whole or in part, into a
number of shares of Common Stock of the Company determined by dividing (A) the
aggregate Fair Value of such shares or other securities otherwise

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issuable upon exercise of this Warrant minus the aggregate Exercise Price of
such shares by (B) the Fair Value of one such share.

         4.       Certificates for Warrant Shares; New Warrant. The Company
agrees that the Warrant Shares shall be deemed to have been issued to the
Warrantholders as the record owners of such Warrant Shares as of the close of
business on the date on which payment for such Warrant Shams has been made (or
deemed to be made by cashless exercise) in accordance with the terms of this
Warrant. Certificates for the Warrant Shares shall be delivered to
Warrantholders within a reasonable time, not exceeding thirty (30) days, after
this Warrant has been exercised. A new Warrant representing the number of
shares, if any, with respect to which this Warrant remains exercisable also
shall be issued to the Warrantholders within such time so long as this Warrant
has been surrendered to the Company at the time of exercise.

         5.       Adjustment of Exercise Price; Number of Shares and Nature of
Securities Issuable Upon Exercise of Warrants.

                  (a) Exercise Price: Adjustment of Number of Shares. The
Exercise Price shall be subject to adjustment from time to time as hereinafter
provided. Upon each adjustment of the Exercise Price, the Warrantholders shall
thereafter be entitled to purchase, at the Exercise Price resulting from such
adjustment, a number of shares determined by multiplying the Exercise Price in
effect immediately prior to such adjustment by the number of shares purchasable
pursuant hereto immediately prior to such adjustment and dividing the product
thereof by the Exercise Price resulting from such adjustment.

                  (b) Reorganization, Reclassification, Consolidation, Merger
or Sale. If any capital reorganization or reclassification of the capital stock
of the Company, or any or any consolidation or merger of the Company with
another corporation, or the sale of all or substantially all of its assets to
another corporation shall be effected in such a way that holders of Common
Stock shall be entitled to receive cash, stock, securities or assets with
respect to or in exchange for Common Stock, then, as a condition of such
reorganization, reclassification, consolidation, merger or sale, lawful and
adequate provisions shall be made whereby the Warrantholders shall thereafter
have the right to purchase and receive upon the basis and upon the terms and
conditions specified in this Warrant upon exercise of this Warrant and in lieu
of the shares of the Common Stock of the Company immediately theretofore
purchasable and receivable upon the exercise of the rights represented hereby,
such cash, shares of stock, securities or assets as may be issued or payable
with respect to or in exchange for a number of outstanding shares of Common
Stock equal to the number of shares of such Common Stock immediately
theretofore purchasable and receivable upon the exercise of the rights
represented hereby, and in any such case appropriate provision shall be made
with respect to the rights and interests of the Warrantholders to the end that
the provisions hereof (including, without limitation, provisions for
adjustments of the Exercise Price and of the number of shares purchasable and
receivable upon the exercise of this Warrant) shall thereafter be applicable,
as nearly as may be, in relation to any shares of stock securities or assets
thereafter deliverable upon the exercise hereof.

                  (c) Stock Splits and Reverse Splits. In case at any time the
Company shall subdivide its outstanding shares of Common Stock into a greater
number of shares, the Exercise Price in effect immediately prior to such
subdivision shall be proportionately reduced and the number of shares of Common
Stock purchasable pursuant to this Warrant immediately prior to

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such subdivision shall be proportionately increased, and conversely, in case at
any time the Company shall combine its outstanding shares of Common Stock into
a smaller number of shares, the Exercise Price in effect immediately prior to
such combination shall be proportionately increased and the number of shares of
Common Stock purchasable upon the exercise of this Warrant immediately prior
to such combination shall be proportionately reduced.

                  (d) Dissolution, Liquidation and Wind-Up. In case the Company
shall, at any time prior to the expiration of this Warrant, dissolve, liquidate
or wind up its affairs, the Warrantholders shall be entitled, upon the exercise
of this Warrant, to receive, in lieu of the shares of Common Stock of the
Company which such Warrantholders would have been entitled to receive, the same
kind and amount of assets as would have been issued, distributed or paid to
such Warrantholders upon any such dissolution, liquidation or winding up with
respect to such shares of Common Stock of the Company, had such Warrantholders
been the holders of record of the Warrant Shares receivable upon the exercise
of this Warrant on the record date for the determination of those persons
entitled to receive any such liquidating distribution. After any such
dissolution, liquidation or winding up which shall result in any cash
distribution in excess of the Exercise Price provided for by this Warrant, the
Warrantholders may, at each such Warrantholder's option, exercise the same
without making payment of the Exercise Price, and in such case the Company
shall, upon the distribution to said Warrantholders, consider that said
Exercise Price has been paid in full to it and in making settlement to said
Warrantholders, shall deduct from the amount payable to such Warrantholders an
amount equal to such Exercise Price.

                  (e) Adjustment Certificate. In each case of an adjustment in
the number of shares of Common Stock or other stock, securities or property
receivable on the exercise of the Warrants, the Company shall compute such
adjustment in accordance with the terms of this Warrant and prepare and duly
execute and deliver to the Warrantholders a certificate setting forth such
adjustment and showing in detail the facts upon which such adjustment is based.

         6.       Social Agreements of the Company.

                  (a) Reservation of Shares. The Company covenants and agrees
that all Warrant Shares will, upon issuance, be validly issued, fully paid and
nonassessable and free from all preemptive rights of any stockholder, and from
all taxes, liens and charges with respect to the issue thereof. The Company
further covenants and agrees that during the period within which the rights
represented by this Warrant may be exercised, the Company will at all times
have authorized, and reserved, a sufficient number of shares of Common Stock to
provide for the exercise of the rights represented by this Warrant.

                  (b) Avoidance of Certain Actions. The Company will not, by
amendment of its Certificate of Incorporation or through any reorganization,
transfer of assets, consolidation, merger, issue or sale of securities or
otherwise, avoid or take any action which would have the effect of avoiding the
observance or performance of any of the terms to be observed or performed
hereunder by the Company, but will at all times in good faith assist in
carrying out all of the provisions of this Warrant and in taking all of such
actions as my be necessary or appropriate in order to protect the rights of the
Warrantholders against impairment of their rights hereunder.

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                  (c) Listing on Securities Exchanges; Registration. If, and so
long as, any class of the Company's Common Stock shall be listed on any
national securities exchange (as defined in the Exchange Act), the Company
will, at its expense, obtain and maintain the approval for listing upon
official notice of issuance of all Warrant Shares and maintain the listing of
Warrant Shares after their issuance; and the Company will so list on such
national securities exchange, and will maintain such listing of, any other
securities that at any time are issuable upon exercise of this Warrant if and
at the time any securities of the same class shall be listed on such national
securities exchange by the Company.

         7.       Fractional Shares. No fractional shares or scrip representing
fractional shares shall be issued upon the exercise of this Warrant. With
respect to any fraction of a share called for upon exercise hereof, such
fraction shall be rounded to the nearest whole share. A fraction of one-half
shall be rounded up to the next highest integer.

         8.       Notices of Stock Dividends. Subscriptions, Reclassifications.
Consolidations, Mergers, etc., If at any time: (i) the Company shall declare a
cash or stock dividend (or an increase in the then existing dividend rate), or
declare a dividend on Common Stock payable otherwise than in cash out of its
net earnings after taxes for the prior fiscal year, or (ii) the Company shall
authorize the granting to the holders of Common Stock of rights to subscribe
for or purchase any shares of capital stock of class or of any other rights; or
(iii) there shall be any capital reorganization, or reclassification, or
redemption of the capital stock of the Company, or consolidation or merger of
the Company with, or sale of all or substantially all of its assets to, another
corporation or firm; or (iv) there shall be a voluntary or involuntary
dissolution, liquidation or winding up of the Company; or (v) the Company
proposes to effect a Public Offering, then the Company shall give to the
Warrantholders at the addresses of such Warrantholders as shown on the books of
the Company, at least forty-five (45) days prior to the applicable record date
hereinafter specified, a written notice summarizing such action or event and
stating the record date for any such dividend or rights (or, if a record date
is not to be selected, the date as of which the holders of Common Stock of
record entitled to such dividend or rights are to be determined), the date on
which any such reorganization, reclassification, consolidation, merger, sale of
assets, dissolution, liquidation or winding up or Public Offering is expected
to become effective, and the date as of which it is expected the holders of
Common Stock of record shall be entitled to effect any exchange of their shares
of Common Stock for cash (or cash equivalent), securities or other property
deliverable upon any such reorganization, reclassification, consolidation,
merger, sale of assets, dissolution, liquidation or winding up or Public
Offering.

        9.        Registered Holder, Transfer of Warrants or Warrant Shares.

                  (a) Maintenance of Registration Books; Ownership of this
Warrant. The Company shall keep at its principal office a register in which the
Company shall provide for the registration, transfer and exchange of this
Warrant. The Company shall not at any time, except upon the dissolution,
liquidation or winding-up of the Company, close such register so as to result
in preventing or delaying the exercise or transfer of this Warrant.

                  (b) Exchange and Replacement. To the extent permissible under
any applicable securities laws, this warrant is exchangeable upon surrender
hereof by the registered

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holder to the Company at its principal office for new Warrants of like tenor
and date representing in the aggregate the right to purchase the number of
shares purchasable hereunder, each of such new Warrants to represent the right
to purchase such number of shares as shall be designated by said registered
holder at the time of surrender. This Warrant and all rights hereunder are
transferable in whole or in part upon the books of the Company by the
registered holder hereof in person or by duly authorized attorney, and new
Warrants shall be made and delivered by the Company, of the same tenor and date
as this Warrant but registered in the name of the transferee(s), upon surrender
of this Warrant, duly endorsed, to said office of the Company. Upon receipt by
the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant, and upon surrender and cancellation
of this Warrant, if mutilated, the Company will make and deliver a new Warrant
of like tenor, in lieu of this Warrant, without requiring the posting of any
bond or the giving of any other security. This Warrant shall be promptly
canceled by the Company upon the surrender hereof in connection with any
exchange, transfer or replacement. The Company shall pay all expenses, taxes
and other charges payable in connection with the preparation, execution and
delivery of Warrants pursuant to this Section 10.

         10.      Registration. The holders of the Warrant Shares shall have
registration rights equivalent to those enjoyed by the holders of the Company's
Series C Preferred Stock in accordance with Section 2 of that certain Amended
and Restated Investors' Rights Agreement ("Investors' Rights Agreement"), dated
October ___, 1999, by and between the Company and the holders of its Preferred
Stock, except that Holder shall be required to approve any waiver or amendment
under Section 5 thereof affecting Holder's rights. The Company shall use
commercially reasonable efforts to amend the Investors' Rights Agreement to
provide therefor.

         11.      Representation and Warranties of the Company. The Company
hereby represents and warrants to and covenants with Warrantholder, and each
holder of Warrant Shares that:

                  (a) Organization and Capitalization of the Company. The
Company is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware. As of the date hereof, the authorized
capital of the Company consists of 98,705,000 shares of Common and Preferred
Stock of which 51,247,676 shares of Common and Preferred Stock, all are issued
and outstanding. The Company has, and at all times during the Exercise Period
will have, reserved for issuance pursuant to the Warrants that number of shares
of Common Stock that are issuable pursuant to the Warrants. All the
outstanding shares of Common Stock have been validly issued without violation
of any preemptive or similar rights, are fully paid and nonassessable and have
been issued in compliance with all federal and applicable state securities
laws.

                  (b) Authority. The Company has full corporate power and
authority to execute and deliver this Warrant, to issue the shares of Common
Stock issuable upon exercise of this Warrant, and to perform all of its
obligations hereunder, and the execution, delivery and performance hereof has
been duly authorized by all necessary corporate action on its part. This
Warrant has been duly executed on behalf of the Company and constitutes the
legal, valid and binding obligation of the Company enforceable in accordance
with its terms.

                  (c) No Legal Bar. Neither the execution, delivery or
performance of this Warrant nor the issuance of the shares of Common Stock
issuable upon exercise of this Warrant

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will (a) conflict with or result in a violation of the Certificate of
Incorporation or By-Laws of the Company, (b) conflict with or result in a
violation of any law, statute, regulation, order or decree applicable to the
Company or any affiliate, (c) require any consent or authorization or filing
with, or other act by or in respect of any governmental authority, or (d)
result in a material breach of, constitute a default under or constitute an
event creating rights of acceleration, termination or cancellation under any
mortgage, lease, contract, franchise, instrument or other agreement to which
the Company is a party or by which it is bound.

                  (d) Validity of Shares. When issued upon the exercise of this
Warrant as contemplated herein, the shares of Common Stock so issued will have
been validly issued and will be fully paid and nonassessable. On the date
hereof, the par value of the Common Stock is less than the Exercise Price per
share of Common Stock.

         12.      Representations and Warranties of the Warrantholder. This
Warrant has been issued by the Company in reliance upon the following
representations and covenants of Warrantholder.

                  (i)      Investment Purpose. This Warrant and the Warrant
Shares will be acquired for investment for the Warrantholder's own account, and
not as a nominee or agent and not with a view to the sale or distribution of
any part thereof, and the Warrantholder has no present intention of selling,
granting any participation in or otherwise distributing the same. The
Warrantholder further represents that it does not have any contract,
undertaking, agreement or arrangement with any person to sell, transfer or
grant participations to such person, or to any third person, with respect to
this Warrant.

                  (ii)     Private Issue. The Warrantholder understands (i)
that the Warrant and the Warrant Shares issuable upon exercise of this Warrant
are not registered under the Securities Act, or qualified under applicable
state securities laws on the ground that the issuance of this Warrant will be
exempt from the registration and qualifications requirements thereof, and (ii)
that the Company's reliance on such exemption is predicated on the
representations set forth in this Section 10.

                  (iii)    Disposition of Warrantholder's Rights. In no event
will the Warrantholder make a disposition of the Warrant Shares issuable upon
exercise of this Warrant unless and until (i) it shall have notified the
Company of the proposed disposition, and (ii) if requested by the Company, it
shall have furnished the Company with an opinion of counsel satisfactory to the
Company and its counsel to the effect that (A) appropriate action necessary for
compliance with the Securities Act has been taken, or (B) an exemption from the
registration requirements of the Securities Act is available. Notwithstanding
the foregoing, the restrictions imposed upon the transferability of the Warrant
Shares shall terminate as to this Warrant and any particular share of Common
Stock when (1) such security shall have been effectively registered under the
Securities Act and sold by the Holder thereof in accordance with such
registration or (2) such security shall have been sold without registration in
compliance with Rule 144 under the Securities Act, or (3) a letter shall have
been issued to the Warrantholder at its request by the staff of the Securities
and Exchange Commission or a ruling shall have been issued to the Warrantholder
at its request by such Commission stating that no action shall be recommended
by the staff or taken by such Commission, as the case may be, if such security
is transferred without registration under the Securities Act in accordance with
the conditions set forth in such letter or

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ruling and such letter or ruling specifies that no subsequent restrictions on
transfer are required. Whenever the restrictions imposed hereunder shall
terminate, as hereinabove provided, the Warrantholder or the Holder of a share
of Common Stock issued upon exercise of this Warrant as to which such
restrictions have terminated shall be entitled to receive from the Company,
without expense to such Holder, one or more new certificates for the Warrant or
for such shares of Common Stock not bearing any restrictive legend.

                  (iv)     Rule 144. The Warrantholder acknowledges that it has
received and reviewed a copy of Rule 144 promulgated under the Securities Act,
which permits limited public resales of securities acquired in a non-public
offering, subject to the satisfaction of certain conditions.

                  (v)      Sale of Warrant. The Warrantholder acknowledges that
in the event the applicable requirements of Rule 144 are not met, registration
under the Securities Act or compliance with another exemption from registration
will be required for any disposition of this Warrant or the Warrant Shares. The
Warrantholder understands that although Rule 144 is not exclusive, the
Securities and Exchange Commission has expressed its opinion that persons
proposing to sell restricted securities received in a private offering other
than in a registered offering or pursuant to Rule 144 will have a substantial
burden of proof in establishing that an exemption from registration is
available for such offers or sales and for such persons and the brokers who
participate in the transaction do so at their own risk. The Warrantholder also
acknowledges that it is not receiving any rights with respect to registration of
this Warrant or the Warrant Shares under the Securities Act.

                  (vi)     Financial Risk. The Warrantholder has such knowledge
and experience in financial and business matters as to be capable of evaluating
the merits and risks of its investment, and has the ability to bear the
economic risks of its investment.

                  (vii)    Accredited Investor. The Warrantholder is an
"accredited investor" within the meaning of Rule 501 of Regulation D
promulgated under the Act.

                  (viii)   No Public Market. The Warrantholder understands that
no public market now exists for any of the securities issued by the Company.

                  (ix)     Receipt of Information. The Warrantholder has
received and reviewed this Warrant; it, its attorney and its accountant have
had access to, and an opportunity to review all documents and other materials
requested of, the Company; it and they have been given an opportunity to ask
any and all questions or, and receive answers from, the Company concerning the
terms and conditions of this Warrant and to evaluate the suitability of an
investment in this Warrant; and, in evaluating the suitability of an investment
in this Warrant; it and they have not relief upon any representations or other
information (whether oral or written) other than as set forth herein.

         14.      Lock-Up-Period. Warrantholder hereby agrees that, if so
requested by the Company or any representative of the underwriters (the
"Managing Underwriter") in connection with any registration of the offering of
any securities of the Company under the Securities Act or a public offering
that is exempt from the Securities Act (e.g. Regulation A offering),
Warrantholder shall not sell or otherwise transfer any Warrant Shares or other
securities of the Company during the

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180-day period (or such other period as may be requested in writing by the
Managing Underwriter and agreed to in writing by the Company) (the "Market
Standoff Period") following the effective date of a registration statement of
the Company filed under the Securities Act or the commencement date of such an
exempt public offering. Such restriction shall apply only to the first
registration statement or exempt public offering of the Company to become
effective under the Securities Act that includes securities to be sold on
behalf of the Company to the public in an underwritten public offering. The
Company may impose stop-transfer instructions with respect to securities
subject to the foregoing restrictions until the end of such Market Standoff
Period.

         15.      Miscellaneous Provisions.

                  (a) Governing Law. This Warrant shall be deemed to have been
made in the State of California and the validity of this Warrant, the
construction, interpretation, and enforcement thereof, and the rights of
the parties thereto shall be determined under, governed by, and construed in
accordance with the internal laws of the State of California, without regard to
principles of conflicts of law.

                  (b) Notices. All notices and other communications hereunder
shall be in writing and shall be deemed to have been given when personally
delivered to the addressee or five (5) days after being mailed by certified
mail addressed to the address below stated of the party to which notice is
given, or to such changed address as such party may have fixed by notice:

         To the Company:

                  TRITON NETWORK SYSTEMS, INC.
                  8529 Southpark Circle
                  Orlando, FL 32819

                  Attn:
                       --------------------------

         To the Warrantholders
         Or holder of Warrant Shares:

                  FINOVA Capital Corporation
                  10 Waterside Drive
                  Farmington, Connecticut 06032

                  Attn: Contracts Administration Dept.

provided, however, that any notice of change of address shall be effective upon
receipt.

                  (c) Successors and Assigns. This Warrant shall be binding
upon and inure to the benefit of the Company, the Warrantholders and the
holders of Warrant Shares and the successors, assigns and transferees of the
Company, the Warrantholders and the holders of Warrant Shares.

                  (d) Attorneys' Fees. The Company agrees to pay, on demand,
all attorneys' fees (include attorneys' fees incurred pursuant to proceedings
arising under the Bankruptcy Code) and all other costs and expenses which may
be incurred by the Warrantholders and the holders of

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Warrant Shares in connection with any amendment to this Warrant which may be
requested by the Company and/or in any action or proceeding in which the
Company is not the prevailing party, if such action or proceeding is in
connection with, arising out of, or consequential to the protection, assertion,
or enforcement of rights under this Warrant.

                  (e) Entire Agreement; Amendments and Waivers. This Warrant
sets forth the entire understanding of the parties with respect to the
transactions contemplated hereby. The failure of any party to seek redress for
the violation or to insist upon the strict performance of any term of this
Warrant shall not constitute a waiver of such term and such party shall be
entitled to enforce such term without regard to such forbearance. This Warrant
may be amended, the Company may take any action herein prohibited or omit to
take action herein required to be performed by it, and any breach of or
compliance with any covenant, agreement, warranty or representation may be
waived, only if the, Company has obtained the written consent or written waiver
of the majority in interest of the Warrantholders, and then such consent or
waiver shall be effective only in the specific instance and for the specific
purpose for which given.

                  (f) Severability. If any term of this Warrant as applied to
any person or to any circumstance is prohibited, void, invalid or unenforceable
in any jurisdiction, such term shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or invalidity without in any way affecting
any other term of this Warrant, or affecting the validity or enforceability of
this Warrant or of such provision in any other jurisdiction.

                  (g) Headings. The headings in this Warrant are inserted only
for convenience of reference and shall not be used in the construction of any
of its terms.

                  (h) Transferability. This Warrant may be assigned,
transferred or sold by Warrantholder only in compliance with the provisions of
applicable securities laws and with the consent of Company which shall not be
unreasonably withheld; provided, however, that no consent of the Company shall
be required for any assignment or transfer of this Warrant to any direct or
indirect subsidiary or parent of the Warrantholders or to any entity in which
Warrantholder has a 50% or greater ownership interest.

         IN WITNESS WHEREOF, the Company has caused this Warrant to be signed
by its duly authorized officers effective as of the date first set forth above.

                                       TRITON NETWORK SYSTEMS, INC.
                                       a Delaware corporation

                                       By:       /s/ Ken Vines
                                          -------------------------------------

                                       Printed Name: Ken Vines
                                                    ---------------------------

                                       Title:        CFO
                                             ----------------------------------<PAGE>   1
                                                               Exhibit (10)-(45)

                                 TRUST AGREEMENT

         THIS AGREEMENT made this 16th day of December 1994, by and between LTV
CORPORATION ("Company") and Mellon Bank, N.A. ("Trustee").

         WHEREAS, Company has adopted various nonqualified deferred compensation
plan(s), as listed in Appendix A (the "Plans"):

         WHEREAS, Company has incurred or expects to incur liability under the
terms of such Plan(s) with respect to the individuals participating in such
Plans (individually a "Participant" and collectively the "Participants");

         WHEREAS, Company wishes to establish a trust (the "Trust") and to
contribute to the Trust the assets that shall be held therein, subject to the
claims of Company's creditors in the event of Company's insolvency, as herein
defined, until paid to participants and their beneficiaries in such manner and
at such times as specified in the Plan(s);

         WHEREAS, it is the intention of the parties that this Trust shall
constitute an unfunded arrangement and shall not affect the status of the
plan(s) as an unfunded plan maintained for the purpose of providing deferred
compensation for a select group of management or highly compensated employees
for purposes of Title I of the Employee Retirement Income Security Act of 1974;
and

         WHEREAS, it is the intention of Company to make contributions to the
Trust to provide itself with a source of funds to assist it in the meeting of
its liabilities under the Plan(s).

         NOW THEREFORE, the parties do hereby establish the trust and agree that
the Trust shall be comprised, held and disposed of as follows.

Section 1.        Establishment of Trust.

         (a) Company hereby establishes the Trust with the Trustee, consisting
of such sums of money and other property acceptable to the Trustee as from time
to time shall be paid and delivered to and accepted by the Trustee from the
company. All such money and other property paid or delivered to and accepted by
the Trustee shall become the principal or the Trust to be held, administered and
disposed of by Trustee as provided in this Trust agreement.

         (b) The Trust hereby established is revocable by Company; it shall
become irrevocable upon a Change of Control, as defined herein.

         (c) The Trust is intended to be a grantor trust, of which Company is
the grantor, within the meaning or subpart E, part I, subchapter J, chapter 1,
subtitle A of the Internal Revenue Code of 1986, as amended, and shall be
construed accordingly.

         (d) The principal of the Trust, and any earnings thereon shall be held
separate and apart from other funds of Company and shall be used exclusively for
the uses and purposes of

<PAGE>   2

the participants and general creditors as herein set forth. The Participants and
their beneficiaries shall have no preferred claim on or any beneficial ownership
interest in, any assets of the Trust. Any rights created under the Plan(s) and
this Trust Agreement shall be mere unsecured contractual rights of the
Participants and their beneficiaries against Company. Any assets held by the
Trust will be subject to the claims of Company's general creditors under federal
and state law in the event of insolvency, as defined in Section 3(a) herein.

         (e) Company, in its sole discretion, may at any time, or from time to
time, make additional deposits of cash or other property in trust with Trustee
to augment the principal to be held, administered and disposed of by Trustee as
provided in this Trust Agreement. Neither Trustee nor any Participant or
beneficiary shall have any right to compel such additional deposits.

         (f) The Trustee may commingle the assets attributable to the plans for
which contributions are made under this Agreement if this Agreement is
applicable to more than one plan. By agreement, the Trustee may maintain such
records as the Trustee deems necessary in order to separate the assets
attributable to each or the plans for which contributions are made under this
Agreement. The Company shall be responsible for causing sufficient records to be
maintained to insure that benefits and liabilities payable with respect to each
Plan shall be paid only from the assets held by the Trustee which are allocable
to each such Plan. Should separation be required, either of the Fund from either
trusts maintained by the Company or of any plan for which contributions are made
under this Agreement from the Fund, the Trustee shall make such separation in
accordance with generally accepted accounting principles and where applicable,
upon the certification of an enrolled actuary.

Section 2.        Payments to the Participants and Their Beneficiaries.

         (a) Company shall deliver to Trustee a schedule (the "Payment
Schedule") that indicates the amounts payable in respect of each Participant
(and his or her beneficiaries), that provides a formula or other instructions
acceptable to Trustee for determining the amounts so payable, the form in which
such amount is to be paid (as provided for or available under the plan(s)), and
the time of commencement for payment of such amounts. Except as otherwise
provided herein, Trustee shall make payments to the participants and their
beneficiaries in accordance with such Payment Schedule. The Trustee shall make
provision for the reporting and withholding of any federal, state or local taxes
that may be required to be withheld with respect to the payment of benefits
pursuant to the terms of this Agreement and shall pay amounts withheld to the
appropriate taxing authorities or determine that such amounts have been
reported, withheld and paid by Company.

         (b) Tile entitlement of a Participant or his or her beneficiaries to
benefits under the Plan(s) shall be determined by Company or such party as it
shall designate under the Plan(s), and any claim for such benefits shall be
considered and reviewed under the procedures set out in the Plan(s).

         (c) Company may make payment or benefits directly to the Participants
or their beneficiaries as they become due under the terms of the Plan(s).
Company shall notify Trustee

<PAGE>   3

of its decision to make payment of benefits directly prior to the time amounts
are payable to Participants or their beneficiaries. In addition, if the
principal of the Trust, and any earnings thereon, are not sufficient to make
payments of benefits in accordance with the terms of the Plan(s), Company shall
immediately make up the balance of each such payment as it falls due. Trustee
shall notify Company when principal and earnings are not sufficient.

Section 3.        Trustee Responsibility Regarding Payments to Trust Beneficiary
When Company is Insolvent.

         (a) Trustee shall cease payment of benefits to the Participants and
their beneficiaries if the Company is Insolvent. Company shall be considered
"Insolvent" for purposes of this Trust Agreement if (i) Company is unable to pay
its debts as they become due, or (ii) Company is subject to a pending proceeding
as a debtor under the United States Bankruptcy Code.

         (b) At all times during the continuance of this Trust, as provided in
Section 1(d) hereof, the principal and income of the Trust shall be subject to
claims or general creditors of Company under federal and state law as set forth
below.

                  (1) The Board or Directors and the Chief Executive Officer of
         Company shall have the duty to inform Trustee in writing of Company's
         Insolvency. If a person claiming to be a creditor of Company alleges in
         writing to Trustee that Company has become Insolvent, Trustee shall
         determine whether Company is Insolvent and, pending such determination,
         Trustee shall discontinue payment of benefits to the Participants or
         their beneficiaries. In all cases, Trustee shall be entitled to
         conclusively rely upon the written certification of the Board of
         Directors or the Chief Executive Officer of the Company when
         determining whether Company is insolvent.

                  (2) Unless Trustee has actual knowledge of Company's
         Insolvency, or has received notice from Company or a person claiming to
         be a creditor alleging that Company is Insolvent, Trustee shall have no
         duty to inquire whether Company is Insolvent. Trustee may in all events
         rely on such evidence concerning Company's solvency as may be furnished
         to Trustee and that provides Trustee with a reasonable basis for making
         a determination concerning Company's solvency.

                  (3) If at any time Trustee has determined that Company is
         Insolvent, Trustee shall discontinue payments to the Participants or
         their beneficiaries and shall hold the assets of the Trust for the
         benefit of Company's general creditors. Nothing in this Trust Agreement
         shall in any way diminish any rights of the participants or their
         beneficiaries to pursue their rights as general creditors of Company
         with respect to benefits due under the Plan(s) or otherwise.

                  (4) Trustee shall resume the payment of benefits to the
         Participants or their beneficiaries in accordance with Section 2 or
         this Trust Agreement only after Trustee has determined that Company is
         not Insolvent (or is no longer Insolvent).

<PAGE>   4

         (c) Provided that there are sufficient assets, if Trustee discontinues
the payment of benefits from the Trust pursuant to Section 3(b) hereof and
subsequently resumes such payments, the first payment following such
discontinuance shall include the aggregate amount of all payments due to the
participants or their beneficiaries under the terms or the Plan for the period
of such discontinuance, less the aggregate amount of any payments made to the
Participants or their beneficiaries by Company in lieu of the payments provided
for hereunder during any such period or discontinuance.

Section 4.        Payments to Company.

         Except as provided in Section 3 hereof, after the Trust has became
irrevocable, Company shall have no right or power to direct Trustee to return to
Company or to divert to others any of the Trust assets before all payment of
benefits have been made to the Participants and their beneficiaries pursuant to
the terms of the Plan(s).

Section 5.        Investment and Administrative Authority.

         (a)      The Trustee shall have the power:

                  (1) To invest and reinvest the principal and income of the
         Trust and keep it invested, without distinction between principal and
         income, in any security or Property as it in, its sole discretion,
         deems advisable; provided, however, in no event may Trustee invest in
         securities (including stock or rights to acquire stock) or obligations
         issued by Company, other than a de minimis amount held in common
         investment vehicles in which Trustee invests. All rights associated
         with assets of the Trust shall be exercised by Trustee or the person
         designated by Trustee, and shall in no event be exercisable by or rest
         with the Participants. "Property," as used herein, shall not include
         any direct or indirect interest in real estate. For this purpose, "real
         estate" includes, but is not limited to, real property, mortgages,
         leaseholds, mineral interests, and any form of asset which is secured
         by any of the foregoing.

                  (2) To collect and receive any and all money and other
         property due to the Trust and to give full discharge therefore;

                  (3) To invest and reinvest the principal income of the Trust
         in any collective, common or pooled trust fund operated or maintained
         exclusively for the commingling and collective investment of monies or
         other assets including any such fund operated or maintained by the
         Trustee. Notwithstanding the provisions of this Trust Agreement which
         place restrictions upon the actions of the Trustee or an investment
         manager, to the extent monies or other assets are utilized to acquire
         units or any collective trust, the terms of the collective trust
         indenture shall solely govern the investment duties, responsibilities
         and powers of the trustee of such collective trust and, to the extent
         required by law, such terms, responsibilities and powers shall be
         incorporated herein by reference and shall be part of this Trust
         Agreement. For purposes of valuation, the value of the interest
         maintained by the Trust in such collective trust shall be the fair
         market value of the collective fund units held, determined in
         accordance with generally recognized valuation

<PAGE>   5

         procedures. The Company expressly understands and agrees that any such
         collective fund may provide for the lending of its securities by the
         collective fund trustee and that such collective fund's trustee will
         receive compensation from such collective fund for the lending of
         securities that is separate from any compensation of the Trustee
         hereunder, or any compensation of the collective fund trustee for the
         management of such collective fund.

         (4) To purchase, enter, sell, hold, and generally deal in any manner in
and with contracts for the immediate or future delivery of financial instruments
of any issuer or of any other property; to grant, purchase, sell, exercise,
permit to expire, permit to be held in escrow, and otherwise to acquire, dispose
or, hold and generally deal in any manner with and in all forms of options in
any combination.

         (5) To settle, compromise or submit to arbitration any claims, debt or
damages due or owing to or from the Trust; to commence or defend suits or legal
proceedings to protect any interest of the Trust; and to represent the Trust in
all suits or legal proceedings in any court or before any other body or
tribunal; and

         (6) Generally to do all acts, whether or not expressly authorized,
which the Trustee may deem necessary or desirable for the protection of the
Trust.

                  (b) The Company may from time to time appoint one or more
investment managers to manage a specified portion of the Trust. The Company
shall notify the Trustee of the appointment of each investment manager and
instruct the Trustee to place in a separate account those assets over which the
investment manager has discretion. The investment manager shall designate in
writing the persons who are to represent it in dealings with the Trustee. Upon
the separation of the assets in accordance with the instructions of the Company,
the Trustee shall be relieved and released of all investment duties,
responsibilities and liabilities normally and statutorily incident to a trustee
as to such separate account. The Trustee shall only act on written instructions
from a party designated to represent the investment manager. The Company shall
cause any investment manager to produce reports and statements necessary for the
Trustee to carry out its duties.

Section 6.        Disposition of Income.

         During the term or this Trust, all income received by the Trust, net of
expenses and taxes, shall be accumulated and reinvested.

Section 7.         Accounting Trustee.

         Trustee shall keep accurate and detailed records of all investments,
receipts, disbursements, and all other transactions required to be made,
including such specific records as shall be agreed upon in writing between
Company and Trustee. Within 90 days following the close of each calendar year
and within 90 days after the removal or resignation of Trustee, Trustee shall
deliver to Company a written account of its administration of the Trust during
such year or during the period from the close of the last preceding year to the
date of such removal or

<PAGE>   6

resignation, setting forth all investments, receipts, disbursements and other
transactions effected by it, including a description of all securities and
investments purchased and sold with the cost or net proceeds of such purchases
or sales (accrued interest paid or receivable being shown separately), and
showing all cash, securities and other property held in the Trust at the end of
such year or as of the date of such removal or resignation, as the case may be.

Section 8.        Responsibility of Trustee.

                  (a) Trustee shall act with the care, skill, prudence and
diligence under the circumstances then prevailing that a prudent person acting
in like capacity and familiar with such matters would use in the conduct of an
enterprise of a like character and with like aims, provided, however, that
Trustee shall incur no liability to any person for any action taken pursuant to
a direction, request or approval given by Company which is contemplated by, and
in conformity with the terms of the Plan(s) (as certified to the Trustee by
Company) or this Trust and is given in writing by Company. In the event of a
dispute between Company and a party, Trustee may apply to a Court of competent
jurisdiction to resolve the dispute. Company agrees to indemnify Trustee against
Trustee's costs, expenses and liabilities (including, without limitation,
attorneys' fees and expenses) arising out of or relating to any action or
inaction taken by Trustee in reliance upon direction, request or approval given
by the Company.

                  (b) If Trustee undertakes or defends any litigation arising in
connection with this Trust, Company agrees to indemnify Trustee against
Trustee's costs, expenses and liabilities (including, without limitation,
attorneys' fees and expenses) relating thereto and to be primarily liable for
such payments. If Company does not pay such costs, expenses and liabilities in a
reasonably timely manner, Trustee may obtain payment from the Trust.

                  (c) Trustee may consult with legal counsel (who may also be
counsel for Company generally) with respect to any of its duties or obligations
hereunder.

                  (d) Trustee may hire agents, accountants, actuaries,
investment advisors, financial consultants or other professionals to assist it
in performing any of its duties or obligations thereunder.

                  (e) Trustee shall have, without exclusion, all powers
conferred on Trustees by applicable law, unless expressly provided otherwise
herein, provided, however, that if an insurance policy is held as an asset of
the Trust, Trustee shall have no power to name a beneficiary of the policy other
than the Trust, to assign the policy (as distinct from conversion of the policy
to a different form) other than to a successor Trustee, or to loan to any person
the proceeds of any borrowing against such policy.

                  (f) However, notwithstanding the provisions of Section 8(e)
above, Trustee may loan to Company the proceeds of any borrowing against an
insurance policy held as an asset of the Trust.

                  (g) Notwithstanding any powers granted to Trustee pursuant to
this Trust Agreement or to applicable law, Trustee shall not have any power that
could give this Trust the

<PAGE>   7

objective of carrying on a business and dividing the gains therefrom, within the
meaning of Section 301.7701-2 of the Procedure and Administrative Regulations
promulgated pursuant to the Internal Revenue Code.

Section 9.        Compensation and Expenses of Trustee.

         Company shall pay all administrative and Trustee's fees and expenses.
If not so paid, the fees and expenses shall be paid from the Trust. Trustee
shall be entitled to the fees listed on Schedule A attached hereto as reasonable
compensation for the services rendered under this Trust Agreement.

Section 10.       Registration and Removal of Trustee.

                  (a) Trustee may resign at any time by written notice to
Company, which shall be effective 60 days after receipt of such notice unless
Company and Trustee agree otherwise.

                  (b) Trustee may be removed by Company on 60 days notice or
upon shorter notice accepted by Trustee.

                  (c) Upon a Change of Control, as defined herein, Trustee may
not be removed by Company for one year.

                  (d) If Trustee resigns within one year of a Change of Control,
as defined herein, Trustee shall select a successor Trustee in accordance with
the provisions of Section 11(b) hereof prior to the effective date of Trustee
resignation or removal.

                  (e) Upon resignation or removal of Trustee and appointment of
a successor Trustee, all assets shall subsequently be transferred to the
successor Trustee. The transfer shall be completed within 180 days after receipt
of notice of resignation, removal or transfer, unless Company extends the time
limit.

                  (f) If Trustee resigns or is removed, a successor shall be
appointed, in accordance with Section 11 hereof, by the effective date of
resignation or removal under paragraph(s) (a) or (b) of this section. If no such
appointment has been made, Trustee may apply to a court of competent
jurisdiction for appointment of a successor or for instructions. All expenses of
Trustee in connection with the proceeding shall be allowed as administrative
expenses of the Trust.

Section 11.       Appointment of Successor.

         (a) If Trustee resigns or is removed in accordance with Section 10(a)
or (b) hereof, Company may appoint any third party, such as a bank trust
department or other party that may be granted corporate trustee powers under
state law, as a successor to replace Trustee upon resignation or removal. The
appointment shall be effective when accepted in writing by the new Trustee, who
shall have all of the rights and powers of the former Trustee, including
ownership

<PAGE>   8

rights in the Trust assets. The former Trustee shall execute any instrument
necessary or reasonably requested by Company or the successor Trustee to
evidence the transfer.

         (b) If Trustee resigns or is removed pursuant to the provisions of
Section 10(d) hereof and selects a successor Trustee, Trustee may appoint any
third party such as a bank trust department or other party that may be granted
corporate trustee powers under state law. The appointment of a successor Trustee
shall be effective when accepted in writing by the new Trustee. The new Trustee
shall have all the rights and powers of the former Trustee, including ownership
rights in Trust assets. The former Trustee shall execute any instrument
necessary or reasonably requested by the successor Trustee to evidence the
transfer.

         (c) The successor Trustee need not examine the records and acts of any
prior Trustee and may retain or dispose of existing Trust assets, subject to
Sections 7 and 8 hereof. The successor Trustee shall not be responsible for and
Company shall indemnify and defend the successor Trustee from any claim or
liability resulting from any action or inaction or any prior Trustee or from any
other past event, or any condition existing at the time it becomes successor
Trustee.

Section 12.       Amendment or Termination.

         (a) This Trust Agreement may be amended by a written instrument
executed by Trustee and Company. Notwithstanding the foregoing, no such
amendment shall conflict with the terms of the Plan (as certified to the Trustee
by Company) or shall make the Trust revocable after it has become irrevocable in
accordance with Section 1(b).

         (b) The Trust shall not terminate until the date on which the
Participants and their beneficiaries are no longer entitled to benefits pursuant
to the terms of the Plan(s) unless sooner revoked in accordance with Section
1(b) hereof. Upon termination of the Trust any assets remaining in the Trust
shall be returned to Company.

         (c) Upon written approval of the Participants or beneficiaries entitled
to payment of benefits pursuant to the terms of the Plan(s), Company may
terminate this Trust prior to the time all benefit payments under the Plan(s)
have been made. All assets in the Trust at termination shall be returned to
Company.

         (d) Notwithstanding any other provision in this Trust Agreement, this
Trust Agreement may not be amended within one year of the occurrence of a Change
of Control.

Section 13.       Miscellaneous.

         (a) Any provision of this Trust Agreement prohibited by law shall be
ineffective to the extent of any such prohibition, without invalidating the
remaining provisions hereof .

         (b) Notwithstanding anything to the contrary contained elsewhere in
this Trust Agreement, any reference to the Plan or Plan provisions which require
knowledge or interpretation of the Plan shall impose a duty upon the Company to
communicate such

<PAGE>   9

knowledge or interpretation to the Trustee. The Trustee shall have no obligation
to know or interpret any portion of the Plan and shall in no way be liable for
any proper action taken contrary to the Plan.

         (c) This Trust Agreement shall be governed by and construed in
accordance with the laws of Pennsylvania.

         (d) For purposes of this Trust, Change of Control shall mean: the
purchase or other acquisition by any person, entity or group of persons, within
the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934
("Act"), or any comparable successor provisions, of beneficial ownership (within
the meaning of Rule 13d-3 promulgated under the Act) of 30 percent or more of
either the outstanding shares of common stock or the combined voting power of
Company's then outstanding voting securities entitled to vote generally, or the
approval by the stockholders of Company of a reorganization, merger, or
consolidation. In each case, with respect to which persons who were stockholders
of Company immediately prior to such reorganization, merge or consolidation do
not, immediately thereafter, own more than 50 percent of the combined voting
power entitled to vote generally in the election of directors of the
reorganized, merged or consolidated Company's then outstanding securities, or
liquidation of dissolution of Company or of the sale of all or substantially all
of Company's assets.

Section 14.       Effective Date.

                  The effective date of this Trust Agreement shall be
December 16, 1994.

MELLON BANK, N.A.                            THE LTV CORPORATION

By: /s/ Robert Borza                         By: /s/ A.W. Huge
   --------------------------------             --------------------------------

Title: Vice President                        Title: Senior Vice President & CFO
      -----------------------------                -----------------------------

Date: December 22, 1994                      Date: December 16, 1994
     ------------------------------               ------------------------------

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