Document:

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                                                                    Exhibit 4(n)

                               H.B. FULLER COMPANY
                    Form of Preferred Stock Warrant Agreement

          THIS WARRANT AGREEMENT dated as of ___________between H.B. Fuller
Company, a Minnesota corporation (hereinafter called the "Company,")
and___________ as Warrant Agent (herein called the "Warrant Agent").

          WHEREAS, the Company proposes to sell [if Warrants are sold with other
securities -- [title of such other securities being offered] (the "Offered
Securities") with] warrant certificates evidencing one or more warrants (the
"Warrants" or individually a "Warrant") representing the right to purchase
[title of Preferred Stock or Depositary Shares purchasable through exercise of
Warrants] (the "Warrant Securities"), such warrant certificates and other
warrant certificates issued pursuant to this Agreement being herein called the
"Warrant Certificates"; and

          WHEREAS, the Company desires the Warrant Agent to act on behalf of the
Company in connection with the issuance, exchange, exercise and replacement of
the Warrant Certificates, and in this Agreement wishes to set forth, among other
things, the form and provisions of the Warrant Certificates and the terms and
conditions on which they may be issued, exchanged, exercised and replaced;

          NOW THEREFORE, in consideration of the premises and of the mutual
agreements herein contained, the parties hereto agree as follows:

                                   ARTICLE I.

                     ISSUANCE OF WARRANTS AND EXECUTION AND
                        DELIVERY OF WARRANT CERTIFICATES.

          Section 1.01. Issuance of Warrants. [If Warrants alone -- Upon
issuance, each Warrant Certificate shall evidence one or more Warrants.] [If
Offered Securities and Warrants -- Warrants shall be [initially] issued in
connection with the issuance of the Offered Securities [but shall be separately
transferable on and after____________ (the "Detachable Date")] [and shall not be
separately transferable] and each Warrant Certificate shall evidence one or more
Warrants.] Each Warrant evidenced thereby shall represent the right, subject to
the provisions contained herein and therein, to purchase one Warrant Security.
[If Offered Securities and Warrants -- Warrant Certificates shall be initially
issued in units with the Offered Securities and each Warrant Certificate
included in such a unit shall evidence ________ Warrants for each[_____
principal amount] [____ shares] of Offered Securities included in such unit.]

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          Section 1.02. Execution and Delivery of Warrant Certificates. Each
Warrant Certificate, whenever issued, shall be in registered form substantially
in the form set forth in Exhibit A hereto, shall be dated _________ and may have
such letters, numbers, or other marks of identification or designation and such
legends or endorsements printed, lithographed or engraved thereon as the
officers of the Company executing the same may approve (execution thereof to be
conclusive evidence of such approval) and as are not inconsistent with the
provisions of this Agreement, or as may be required to comply with any law or
with any rule or regulation made pursuant thereto or with any rule or regulation
of any stock exchange on which the Warrants may be listed, or to conform to
usage. The Warrant Certificates shall be signed on behalf of the Company by the
Chairman of the Board, the President or a Vice President of the Company and by
the Treasurer or one of the Assistant Treasurers or the Secretary or one of the
Assistant Secretaries of the Company under its corporate seal reproduced
thereon. Such signatures may be manual or facsimile signatures of such
authorized officers and may be imprinted or otherwise reproduced on the Warrant
Certificates. The seal of the Company may be in the form of a facsimile thereof
and may be impressed, affixed, imprinted or otherwise reproduced on the Warrant
Certificates.

          No Warrant Certificate shall be valid for any purpose, and no Warrant
evidenced thereby shall be exercisable, until such Warrant Certificate has been
countersigned by the manual signature of the Warrant Agent. Such signature by
the Warrant Agent upon any Warrant Certificate executed by the Company shall be
conclusive evidence that the Warrant Certificate so countersigned has been duly
issued hereunder.

          In case any officer of the Company who shall have signed any of the
Warrant Certificates either manually or by facsimile signature shall cease to be
such officer before the Warrant Certificates so signed shall have been
countersigned and delivered by the Warrant Agent, such Warrant Certificates may
be countersigned and delivered notwithstanding that the person who signed such
Warrant Certificates ceased to be such officer of the Company; and any Warrant
Certificate may be signed on behalf of the Company by such persons as, at the
actual date of the execution of such Warrant Certificate, shall be the proper
officers of the Company, although at the date of the execution of this Agreement
any such person was not such officer.

          The term "holder" or "holder of a Warrant Certificate" as used herein
shall mean any person in whose name at the time any Warrant Certificate shall be
registered upon the books to be maintained by the Warrant Agent for that purpose
[If Offered Securities and Warrants are not immediately detachable -- or upon
the register of the Offered Securities prior to the Detachable Date. Prior to
the Detachable Date, the Company will, or will cause the Registrar of the
Offered Securities to, make available at all times to the Warrant Agent such
information as to holders of the Offered Securities with Warrants as may be
necessary to keep the Warrant Agent's records up to date].

          Section 1.03. Issuance of Warrant Certificates. Warrant Certificates
evidencing the right to purchase an aggregate not exceeding _______ Warrant
Securities (except

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as provided in Sections 2.03(c), 3.02 and 4.01) may be executed by the Company
and delivered to the Warrant Agent upon the execution of this Warrant Agreement
or from time to time thereafter. The Warrant Agent shall, upon receipt of
Warrant Certificates duly executed on behalf of the Company, countersign Warrant
Certificates evidencing Warrants representing the right to purchase up to
Warrant Securities and shall deliver such Warrant Certificates to or upon the
order of the Company. Subsequent to such original issuance of the Warrant
Certificates, the ________ Warrant Agent shall countersign a Warrant Certificate
only if the Warrant Certificate is issued in exchange or substitution for one or
more previously countersigned Warrant Certificates or in connection with their
transfer, as hereinafter provided.

                                   ARTICLE II.

                           WARRANT PRICE, DURATION AND
                              EXERCISE OF WARRANTS.

          Section 2.01. Warrant Price. During the period from __________ through
and including ____________, the exercise price of each Warrant will be _______.
During the period from ______________ through and including _____________, the
exercise price of each Warrant will be _____. Such purchase price of Warrant
Securities is referred to in this Agreement as the "Warrant Price". No
adjustment shall be made for any dividends on any Warrant Securities issuable
upon exercise of any Warrant.

          Section 2.02. Duration of Warrants. Each Warrant may be exercised in
whole at any time, as specified herein, on or after [the date thereof]
[______________] and at or before 3:30 p.m., New York City time, on ____________
or such later date as the Company may designate, by notice to the Warrant Agent
and the holders of Warrant Certificates mailed to their addresses as set forth
in the record books of the Warrant Agent (the "Expiration Date"). Each Warrant
not exercised at or before 3:30 p.m., New York City time, on the Expiration Date
shall become void, and all rights of the holder of the Warrant Certificate
evidencing such Warrant under this Agreement shall cease.

          Section 2.03. Exercise of Warrants. (a) During the period specified in
Section 2.02 any whole number of Warrants may be exercised by providing certain
information as set forth on the reverse side of the Warrant Certificate and by
paying in full, in [lawful money of the United States of America] [in cash or by
certified check or official bank check or by bank wire transfer, in each case,]
[by bank wire transfer] [in immediately available funds] the Warrant Price for
each Warrant exercised to the Warrant Agent at its corporate trust office [or
at _______________], provided that such exercise is subject to receipt within
five business days of such [payment] [wire transfer] by the Warrant Agent of the
Warrant Certificate with the form of election to purchase Warrant Securities set
forth on the reverse side of the Warrant Certificate properly completed and duly
executed. The date on which payment in full of the Warrant Price is received by
the Warrant Agent shall, subject to

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receipt of the Warrant Certificate as aforesaid, be deemed to be the date on
which the Warrant is exercised. The Warrant Agent shall deposit all funds
received by it in payment of the Warrant Price in an account of the Company
maintained with it and shall advise the Company by telephone at the end of each
day on which a [payment] [wire transfer] for the exercise of Warrants is
received of the amount so deposited to its account. The Warrant Agent shall
promptly confirm such telephone advice to the Company in writing.

          (b) The Warrant Agent shall, from time to time, as promptly as
practicable, advise the Company of (i) the number of Warrants exercised, (ii)
the instructions of each holder of the Warrant Certificates evidencing such
Warrants with respect to delivery of the Warrant Securities to which such holder
is entitled upon such exercise, (iii) delivery of Warrant Certificates
evidencing the balance, if any, of the Warrants remaining after such exercise,
and (iv) such other information as the Company shall reasonably require.

          (c) As soon as practicable after the exercise of any Warrant, the
Company shall issue to or upon the order of the holder of the Warrant
Certificate evidencing such Warrant the Warrant Securities to which such holder
is entitled, in fully registered form, registered in such name or names as may
be directed by such holder. If fewer than all of the Warrants evidenced by such
Warrant Certificate are exercised, the Company shall execute, and an authorized
officer of the Warrant Agent shall manually countersign and deliver, a new
Warrant Certificate evidencing the number of such Warrants remaining
unexercised.

          (d) The Company shall not be required to pay any stamp or other tax or
other governmental charge required to be paid in connection with any transfer
involved in the issue of the Warrant Securities, and in the event that any such
transfer is involved, the Company shall not be required to issue or deliver any
Warrant Security until such tax or other charge shall have been paid or it has
been established to the Company's satisfaction that no such tax or other charge
is due.

          (e) Prior to the issuance of any Warrants there shall have been
reserved, and the Company shall at all times keep reserved, out of its
authorized but unissued Warrant Securities, a number of shares sufficient to
provide for the exercise of the Warrant Certificates.

                                  ARTICLE III.

                       OTHER PROVISIONS RELATING TO RIGHTS
                       OF HOLDERS OF WARRANT CERTIFICATES.

          Section 3.01. No Rights as Warrant Securityholder Conferred by
Warrants or Warrant Certificates. No Warrant Certificates or Warrant evidenced
thereby shall entitle the holder thereof to any of the rights of a holder of
Warrant Securities, including, without

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limitation, the right to receive the payment of dividends or distributions, if
any, on the Warrant Securities or to exercise any voting rights.

          Section 3.02. Lost, Stolen, Mutilated or Destroyed Warrant
Certificates. Upon receipt by the Warrant Agent of evidence reasonably
satisfactory to it and the Company of the ownership of and the loss, theft,
destruction or mutilation of any Warrant Certificate and or indemnity reasonably
satisfactory to the Warrant Agent and the Company and, in the case of
mutilation, upon surrender thereof to the Warrant Agent for cancellation, then,
in the absence of notice to the Company or the Warrant Agent that such Warrant
certificate has been acquired by a bona fide purchaser, the Company shall
execute, and an authorized officer of the Warrant Agent shall manually
countersign and deliver, in exchange for or in lieu of the lost, stolen,
destroyed or mutilated Warrant Certificate, a new Warrant Certificate of the
same tenor and evidencing a like number of Warrants. Upon the issuance of any
new Warrant Certificate under this Section, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses (including the fees and
expenses of the Warrant Agent) in connection therewith. Every substitute Warrant
Certificate executed and delivered pursuant to this Section in lieu of any lost,
stolen or destroyed Warrant Certificate shall represent an additional
contractual obligation of the Company, whether or not the lost, stolen or
destroyed Warrant Certificate shall be at any time enforceable by anyone, and
shall be entitled to the benefits of this Agreement equally and proportionately
with any and all other Warrant Certificates duly executed and delivered
hereunder. The provisions of this Section are exclusive and shall preclude (to
the extent lawful) all other rights and remedies with respect to the replacement
of mutilated, lost, stolen or destroyed Warrant Certificates.

          Section 3.03. Holder of Warrant Certificate May Enforce Rights.
Notwithstanding any of the provisions of this Agreement, any holder of a Warrant
Certificate, without the consent of the Warrant Agent, the holder of any Warrant
Securities or the holder of any other Warrant Certificate, may, in such holder's
own behalf and for such holder's own benefit, enforce, and may institute and
maintain any suit, action or proceeding against the Company suitable to enforce,
or otherwise in respect of, such holder's right to exercise the Warrants
evidenced by such holder's Warrant Certificate in the manner provided in such
holder's Warrant Certificate and in this Agreement.

          Section 3.04. Reclassification, Consolidation, Merger, Sale,
Conveyance or Lease. In case any of the following shall occur while any Warrants
are outstanding: (a) any reclassification or change of the outstanding shares of
Warrant Securities; or (b) any consolidation or merger to which the Company is
party (other than a consolidation or a merger in which the Company is the
continuing corporation and which does not result in any reclassification of, or
change in, the outstanding shares of Warrant Securities issuable upon exercise
of the Warrants); or (c) any sale, conveyance or lease to another corporation of
the property of the Company as an entirety or substantially as an entirety; then
the Company, or such successor or purchasing corporation, as the case may be,
shall make appropriate provision by amendment of this Agreement or otherwise so
that the holders of the Warrants

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then outstanding shall have the right at any time thereafter, upon exercise of
such Warrants, to purchase the kind and amount of shares of stock and other
securities and property receivable upon such a reclassification, change,
consolidation, merger, sale, conveyance or lease as would be received by a
holder of the number of shares of Warrant Securities issuable upon exercise of
such Warrant immediately prior to such reclassification, change, consolidation,
merger, sale, conveyance or lease, and, in the case of a consolidation, merger,
sale, conveyance or lease, the Company shall thereupon be relieved of any
further obligation hereunder or under the Warrants, and the Company as the
predecessor corporation may thereupon or at any time thereafter be dissolved,
wound up or liquidated. Such successor or assuming corporation thereupon may
cause to be signed, and may issue either in its own name or in the name of the
Company, any or all of the Warrants issuable hereunder which heretofore shall
not have been signed by the Company, and may execute and deliver Warrant
Securities in its own name, in fulfillment of its obligations to deliver Warrant
Securities upon exercise of the Warrants. All the Warrants so issued shall in
all respects have the same legal rank and benefit under this Agreement as the
Warrants theretofore or thereafter issued in accordance with the terms of this
Agreement as though all of such Warrants had been issued at the date of the
execution hereof. In any case of any such reclassification, change,
consolidation, merger, conveyance, transfer or lease, such changes in
phraseology and form (but not in substance) may be made in the Warrants
thereafter to be issued as may be appropriate.

          The Warrant Agent may receive a written opinion of legal counsel as
conclusive evidence that any such reclassification, change, consolidation,
merger, conveyance, transfer or lease complies with the provisions of this
Section 3.04.

                                   ARTICLE IV.

                              EXCHANGE AND TRANSFER
                            OF WARRANT CERTIFICATES.

          Section 4.01. Exchange and Transfer of Warrant Certificates. [If
Offered Securities with Warrants which are immediately detachable -- Upon] [If
Offered Securities with Warrants which are not immediately detachable -- Prior
to the Detachable Date a Warrant Certificate may be exchanged or transferred
only together with the Offered Security to which the Warrant Certificate was
initially attached, and only for the purpose of effecting or in conjunction with
an exchange or transfer of such Offered Security. Prior to any Detachable Date,
each transfer of the Offered Security [on the register of the Offered
Securities] shall operate also to transfer the related Warrant Certificates.
After the Detachable Date upon] surrender at the corporate trust office of the
Warrant Agent [or _______________], Warrant Certificates evidencing Warrants may
be exchanged for Warrant Certificates in other denominations evidencing such
Warrants or the transfer thereof may be registered in whole or in part; provided
that such other Warrant Certificates evidence the same aggregate number of
Warrants as the Warrant Certificates so surrendered. The Warrant

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Agent shall keep, at its corporate trust office [and at ______________], books
in which, subject to such reasonable regulations as it may prescribe, it shall
register Warrant Certificates and exchanges and transfers of outstanding Warrant
Certificates, upon surrender of the Warrant Certificates to the Warrant Agent at
its corporate trust office [or _______________] for exchange or registration of
transfer, properly endorsed or accompanied by appropriate instruments of
registration of transfer and written instructions for transfer, all in form
satisfactory to the Company and the Warrant Agent. No service charge shall be
made for any exchange or registration of transfer of Warrant Certificates, but
the Company may require payment of a sum sufficient to cover any stamp or other
tax or other governmental charge that may be imposed in connection with any such
exchange or registration of transfer. Whenever any Warrant Certificates are so
surrendered for exchange or registration of transfer, an authorized officer of
the Warrant Agent shall manually countersign and deliver to the person or
persons entitled thereto a Warrant Certificate or Warrant Certificates duly
authorized and executed by the Company, as so requested. The Warrant Agent shall
not be required to effect any exchange or registration of transfer which will
result in the issuance of a Warrant Certificate evidencing a fraction of a
Warrant or a number of full Warrants and a fraction of a Warrant. All Warrant
Certificates issued upon any exchange or registration of transfer of Warrant
Certificates shall be the valid obligations of the Company, evidencing the same
obligations and entitled to the same benefits under this Agreement as the
Warrant Certificate surrendered for such exchange or registration of transfer.

          Section 4.02 Treatment of Holders of Warrant Certificates. [If Offered
Securities and Warrants are not immediately detachable -- Prior to the
Detachable Date, the Company, the Warrant Agent and all other persons may treat
the owner of the Offered Security as the owner of the Warrant Certificates
initially attached thereto for any purpose and as the person entitled to
exercise the rights represented by the Warrants evidenced by such Warrant
Certificates, any notice to the contrary notwithstanding. After the Detachable
Date and prior to due presentment of a Warrant Certificate for registration of
transfer,] [T]he Company and the Warrant Agent may treat the registered holder
of a Warrant Certificate as the absolute owner thereof for any purpose and as
the person entitled to exercise the rights represented by the Warrants evidenced
thereby, any notice to the contrary notwithstanding.

          Section 4.03. Cancellation of Warrant Certificates. Any Warrant
Certificate surrendered for exchange, registration of transfer or exercise of
the Warrants evidenced thereby shall, if surrendered to the Company, be
delivered to the Warrant Agent and all Warrant Certificates surrendered or so
delivered to the Warrant Agent shall be promptly cancelled by the Warrant Agent
and shall not be reissued and, except as expressly permitted by this Agreement,
no Warrant Certificate shall be issued hereunder in exchange therefor or in lieu
thereof. The Warrant Agent shall deliver to the Company from time to time or
otherwise dispose of cancelled Warrant Certificates in a manner satisfactory to
the Company.

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                                    ARTICLE V

                          CONCERNING THE WARRANT AGENT.

          Section 5.01. Warrant Agent. The Company hereby appoints _____________
as Warrant Agent of the Company in respect of the Warrants and the Warrant
Certificates upon the terms and subject to the conditions herein set forth; and
_____________ hereby accepts such appointment. The Warrant Agent shall have the
powers and authority granted to and conferred upon it in the Warrant
Certificates and hereby and such further powers and authority to act on behalf
of the Company as the Company may hereafter grant to or confer upon it. All of
the terms and provisions with respect to such powers and authority contained in
the Warrant Certificates are subject to and governed by the terms and provisions
hereof.

          Section 5.02 Conditions of Warrant Agent's Obligations. The Warrant
Agent accepts its obligations herein set forth upon the terms and conditions
hereof, including the following to all of which the Company agrees and to all of
which the rights hereunder of the holders from time to time of the Warrant
Certificates shall be subject:

          (a) Compensation and Indemnification. The Company agrees promptly to
pay the Warrant Agent the compensation to be agreed upon with the Company for
all services rendered by the Warrant Agent and to reimburse the Warrant Agent
for reasonable out-of-pocket expenses (including counsel fees) incurred other
than as a result of the Warrant Agent's negligence, bad faith or willful
misconduct in connection with the services rendered hereunder by the Warrant
Agent. The Company also agrees to indemnify the Warrant Agent for, and to hold
it harmless against, any loss, liability or expense incurred other than as a
result of the Warrant Agent's negligence, bad faith or willful misconduct,
arising out of or in connection with its acting as Warrant Agent hereunder, as
well as the reasonable costs and expenses of defending against any claim of such
liability.

          (b) Agent for the Company. In acting under this Warrant Agreement and
in connection with the Warrant Certificates, the Warrant Agent is acting solely
as agent of the Company and does not assume any obligations or relationship of
agency or trust for or with any of the holders of Warrant Certificates or
beneficial owners of Warrants.

          (c) Counsel. The Warrant Agent may consult with counsel satisfactory
to it, and the written advice of such counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted
by it hereunder in good faith and in accordance with the advice of such counsel.

          (d) Documents. The Warrant Agent shall be protected and shall incur no
liability for or in respect of any action taken or thing suffered by it in
reliance upon any Warrant Certificate, notice, direction, consent, certificate,
affidavit, statement or other paper or document reasonably believed by it to be
genuine and to have been presented or signed by the proper parties.

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          (e) Certain Transactions. The Warrant Agent, and its officers,
directors and employees, may become the owner of, or acquire any interest in,
Warrants, with the same rights that it or they would have if it were not the
Warrant Agent hereunder, and, to the extent permitted by applicable law, it or
they may engage or be interested in any financial or other transaction with the
Company and may act on, or as depositary, trustee or agent for, any committee or
body of holders of Warrant Securities or other obligations of the Company as
freely as if it were not the Warrant Agent hereunder. Nothing in this Warrant
Agreement shall be deemed to prevent the Warrant Agent from acting as Trustee
under any of the Indentures.

          (f) No Liability for Interest. Unless otherwise agreed with the
Company, the Warrant Agent shall have no liability for interest on any monies at
any time received by it pursuant to any of the provisions of this Agreement or
of the Warrant Certificates.

          (g) No Liability for Invalidity. The Warrant Agent shall have no
liability with respect to any invalidity of this Agreement or any of the Warrant
Certificates (except as to the Warrant Agent's countersignature thereon).

          (h) No Responsibility for Representations. The Warrant Agent shall not
be responsible for any of the recitals or representations herein or in the
Warrant Certificates (except as to the Warrant Agent's countersignature
thereon), all of which are made solely by the Company.

          (i) No Implied Obligations. The Warrant Agent shall be obligated to
perform only such duties as are herein and in the Warrant Certificates
specifically set forth and no implied duties or obligations shall be read into
this Agreement or the Warrant Certificates against the Warrant Agent. The
Warrant Agent shall not be under any obligation to take any action hereunder
which may tend to involve it in any expense or liability, the payment of which
within a reasonable time is not, in its reasonable opinion, assured to it. The
Warrant Agent shall not be accountable or under any duty or responsibility for
the use by the Company of any of the Warrant Certificates authenticated by the
Warrant Agent and delivered by it to the Company pursuant to this Agreement or
for the application by the Company of the proceeds of the Warrant Certificates.
The Warrant Agent shall have no duty or responsibility in case of any default by
the Company in the performance of its covenants or agreements contained herein
or in the Warrant Certificates or in the case of the receipt of any written
demand from a holder of a Warrant Certificate with respect to such default,
including, without limiting the generality of the foregoing, any duty or
responsibility to initiate or attempt to initiate any proceedings at law or
otherwise or, except as provided in Section 6.02 hereof, to make any demand upon
the Company.

          Section 5.03. Resignation and Appointment of Successor. (a) The
Company agrees, for the benefit of the holders from time to time of the Warrant
Certificates, that there

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shall it all times be a Warrant Agent hereunder until all the Warrants have been
exercised or are no longer exercisable.

          (b) The Warrant Agent may at any time resign as such agent by giving
written notice to the Company of such intention on its part, specifying the date
on which its desired resignation shall become effective; provided that such date
shall not be less than three months after the date on which such notice is given
unless the Company otherwise agrees. The Warrant Agent hereunder may be removed
at any time by the filing with it of an instrument in writing signed by or on
behalf of the Company and specifying such removal and the intended date when it
shall become effective. Such resignation or removal shall take effect upon the
appointment by the Company, as hereinafter provided, of a successor Warrant
Agent (which shall be a bank or trust company authorized under the laws of the
jurisdiction of its organization to exercise corporate trust powers) and the
acceptance of such appointment by such successor Warrant Agent. The obligation
of the Company under Section 5.02(a) shall continue to the extent set forth
therein notwithstanding the resignation or removal of the Warrant Agent.

          (c) In case at any time the Warrant Agent shall resign, or shall be
removed, or shall become incapable of acting, or shall be adjudged a bankrupt or
insolvent, or shall commence a voluntary case under the Federal bankruptcy laws,
as now or hereafter constituted, or under any other applicable Federal or State
bankruptcy, insolvency or similar law or shall consent to the appointment of or
taking possession by a receiver, custodian, liquidator, assignee, trustee,
sequestrator (or other similar official) of the Warrant Agent or its property or
affairs, or shall make an assignment for the benefit of creditors, or shall
admit in writing its inability to pay its debts generally as they become due, or
shall take corporate action in furtherance of any such action, or a decree or
order for relief by a court having jurisdiction in the premises shall have been
entered in respect of the Warrant Agent in an involuntary case under the Federal
bankruptcy laws, as now or hereafter constituted, or any other applicable
Federal or State bankruptcy, insolvency or similar law, or a decree or order by
a court having jurisdiction in the premises shall have been entered for the
appointment of a receiver, custodian, liquidator, assignee, trustee,
sequestrator (or similar official) of the Warrant Agent or of its property or
affairs, or any public officer shall take charge or control of the Warrant Agent
or of its property or affairs for the purpose of rehabilitation, conservation,
winding up or liquidation, a successor Warrant Agent, qualified as aforesaid,
shall be appointed by the Company by an instrument in writing, filed with the
successor Warrant Agent. Upon the appointment as aforesaid of a successor
Warrant Agent and acceptance by the successor Warrant Agent of such appointment,
the Warrant Agent shall cease to be Warrant Agent hereunder.

          (d) Any successor Warrant Agent appointed hereunder shall execute,
acknowledge and deliver to its predecessor and to the Company an instrument
accepting such appointment hereunder, and thereupon such successor Warrant
Agent, without any further act, deed or conveyance, shall become vested with all
the authority, rights, powers, trusts, immunities, duties and obligations of
such predecessor with like effect as if originally named

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as Warrant Agent hereunder, and such predecessor, upon payment of its charges
and disbursements then unpaid, shall thereupon become obligated to transfer,
deliver and pay over, and such successor Warrant Agent shall be entitled to
receive, all monies, securities and other property on deposit with or held by
such predecessor, as Warrant Agent hereunder.

          (e) Any corporation into which the Warrant Agent hereunder may be
merged or converted or any corporation with which the Warrant Agent may be
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Warrant Agent shall be a party, or any corporation to
which the Warrant Agent shall sell or otherwise transfer all or substantially
all the assets and business of the Warrant Agent, provided that it shall be
qualified as aforesaid, shall be the successor Warrant Agent under this
Agreement without the execution or filing of any paper or any further act on the
part of any of the parties hereto.

                                   ARTICLE VI.

                                 MISCELLANEOUS.

          Section 6.01. Amendment. This Agreement may be amended by the parties
hereto, without the consent of the holder of any Warrant Certificate, for the
purpose of curing any ambiguity, or of curing, correcting or supplementing any
defective provision contained herein, or making any other provisions with
respect to matters or questions arising under this Agreement as the Company and
the Warrant Agent may deem necessary or desirable; provided that such action
shall not materially adversely affect the interests of the holders of the
Warrant Certificates. The parties hereto may also modify or amend this Agreement
and the terms of the Warrant Certificates with the consent of the holders of not
less than a majority in number of the then outstanding unexercised Warrant
Certificates affected thereby; provided that no such modification or amendment
that accelerates the expiration date, increases the exercise price, reduces the
number of outstanding Warrant Certificates the consent of the holders of which
is required for any such modification or amendment, or otherwise materially
adversely affects the rights of the holders of the Warrant Certificates, may be
made without the consent of each holder affected thereby.

          Section 6.02. Notices and Demands to the Company and Warrant Agent. If
the Warrant Agent shall receive any notice or demand addressed to the Company by
the holder of a Warrant Certificate pursuant to the provisions of the Warrant
Certificates, the Warrant Agent shall promptly forward such notice or demand to
the Company.

          Section 6.03. Addresses. Any communication from the Company to the
Warrant Agent with respect to this Agreement shall be addressed to
______________ Attention: ____________ and any communication from the Warrant
Agent to the Company with respect to this Agreement shall be addressed to H.B.
Fuller Company, 1200 Willow

                                      -11-

<PAGE>

Lake Boulevard, St. Paul, Minnesota 55110-5101, Attention: Corporate Secretary
(or such other address as shall be specified in writing by the Warrant Agent or
by the Company).

          Section 6.04. Applicable Law. The validity, interpretation and
performance of this Agreement and each Warrant Certificate issued hereunder and
of the respective terms and provisions thereof shall be governed by, and
construed in accordance with, the laws of the State of Minnesota.

          Section 6.05. Delivery of Prospectus. The Company shall furnish to the
Warrant Agent sufficient copies of a prospectus relating to the Warrant
Securities deliverable upon exercise of the Warrants (the "Prospectus"), and the
Warrant Agent agrees that upon the exercise of any Warrant, the Warrant Agent
will deliver to the holder of the Warrant Certificate evidencing such Warrant,
prior to or concurrently with the delivery of the Warrant Securities issued upon
such exercise, a Prospectus. The Warrant Agent shall not, by reason of any such
delivery, assume any responsibility for the accuracy or adequacy of such
Prospectus.

          Section 6.06. Obtaining of Governmental Approvals. The Company will
from time to time take all action which may be necessary to obtain and keep
effective any and all permits, consents and approvals of governmental agencies
and authorities and securities act filings under United States Federal and State
laws (including without limitation a registration statement in respect of the
Warrants and Warrant Securities under the Securities Act of 1933), which may be
or become requisite in connection with the issuance, sale, transfer, and
delivery of the Warrant Securities issued upon exercise of the Warrant
Certificates, the exercise of the Warrants, the issuance, sale, transfer and
delivery of the Warrants or upon the expiration of the period during which the
Warrants are exercisable.

          Section 6.07. Persons Having Rights under Warrant Agreement. Nothing
in this Agreement shall give to any person other than the Company, the Warrant
Agent and the holders of the Warrant Certificates any right, remedy or claim
under or by reason of this Agreement.

          Section 6.08. Headings. The descriptive headings of the several
Articles and Sections of this Agreement are inserted for convenience only and
shall not control or affect the meaning or construction of any of the provisions
hereof.

          Section 6.09. Counterparts. This Agreement may be executed in
any number of counterparts, each of which as so executed shall be deemed to be
an original, but such counterparts shall together constitute but one and the
same instrument.

          Section 6.10. Inspection of Agreement. A copy of this Agreement shall
be available at all reasonable times at the principal corporate trust office of
the Warrant Agent for inspection by the holder of any Warrant Certificate. The
Warrant Agent may require such holder to submit his Warrant Certificate for
inspection by it.

                                      -12-

<PAGE>

          IN WITNESS WHEREOF H.B. Fuller Company and _______________ have caused
this Agreement to be signed by their respective duly authorized officers, and
their respective corporate seals to be affixed hereunto, and the same to be
attested by their respective Secretaries or one of their respective Assistant
Secretaries, all as of the day and year first above written.

                                         H.B. FULLER COMPANY

                                         By ____________________________________
                                           Its _________________________________

Attest:

_________________________________________

                                         [WARRANT AGENT]

                                         By ____________________________________
                                           Its _________________________________

Attest:

_________________________________________

                                       -13-

<PAGE>

                                                                       EXHIBIT A

                           FORM OF WARRANT CERTIFICATE
                          [Face of Warrant Certificate]

[Form of Legend if Offered Securities      Prior to ____________ this  Warrant
with Warrants which are not immediately    Certificate cannot be transferred or
detachable.                                exchanged  unless attached to a
                                           [Title of Offered Securities].]

[Form of Legend if Warrants are not        Prior to _____________ , Warrants
immediately exercisable.                   evidenced by this Warrant Certificate
                                           cannot be exercised.]

                EXERCISABLE ONLY IF COUNTERSIGNED BY THE WARRANT
                            AGENT AS PROVIDED HEREIN

                               H.B. FULLER COMPANY
                              WARRANTS TO PURCHASE
                          [Title of Warrant Securities]

         VOID AFTER 3:30 P.M., NEW YORK CITY TIME, ON __________________

No. ____                                           ___________________ Warrants

          This certifies that _____________ or registered assigns is the
registered owner of the above indicated number of Warrants, each Warrant
entitling such owner [if Offered Securities with Warrants which are not
immediately detachable --, subject to the registered owner qualifying as a
"holder" of this Warrant Certificate, as hereinafter defined] to purchase, at
any time [after 3:30 p.m., New York City time, on ________ and] on or before
3:30 p.m., New York City time, on __________, _______ shares of [Title of
Warrant Securities] (the "Warrant Securities"), of H.B. Fuller Company (the
"Company") on the following basis: during the period from ____________, through
and including _____________, the exercise price of each Warrant will be
___________; during the period from ___________, through and including
___________, the exercise price of each Warrant will be ___________ (the
"Warrant Price"). No adjustment shall be made for any dividends on any Warrant
Securities issuable upon exercise of any Warrant. The holder may exercise the
Warrants evidenced hereby by providing certain information set forth on the back
hereof and by paying in full [in lawful money of the United States of America]
[in cash or by certified check or official bank check or by bank wire transfer,
in each case,] [by bank wire transfer] in immediately available funds, the
Warrant Price for each Warrant exercised to the Warrant Agent (as hereinafter
defined) and by surrendering this Warrant Certificate, with the purchase form on
the back

<PAGE>

hereof duly executed, at the corporate trust office of [name of Warrant Agent],
or its successor as warrant agent (the "Warrant Agent"), [or __________], which
is, on the date hereof, at the address specified on the reverse hereof, and upon
compliance with and subject to the conditions set forth herein and in the
Warrant Agreement (as hereinafter defined).

          The term "holder" as used herein shall mean [if Offered Securities
with Warrants which are not immediately detachable --, prior to ____________(the
"Detachable Date"), the registered owner of the Company's [title of Offered
Securities] to which this Warrant Certificate is initially attached, and after
such Detachable Date,] the person in whose name at the time this Warrant
Certificate shall be registered upon the books to be maintained by the Warrant
Agent for that purpose pursuant to Section 4.01 of the Warrant Agreement.

          Any whole number of Warrants evidenced by this Warrant Certificate may
be exercised to purchase Warrant Securities in registered form. Upon any
exercise of fewer than all of the Warrants evidenced by this Warrant
Certificate, there shall be issued to the holder hereof a new Warrant
Certificate evidencing the number of Warrants remaining unexercised.

          This Warrant Certificate is issued under and in accordance with the
Warrant Agreement dated as of _______________ (the "Warrant Agreement") between
the Company and the Warrant Agent and is subject to the terms and provisions
contained in the Warrant Agreement, to all of which terms and provisions the
holder of this Warrant Certificate consents by acceptance hereof. Copies of the
Warrant Agreement are on file at the above-mentioned office of the Warrant Agent
[and at _____________________].

          [If Offered Securities with registered Warrants which are not
immediately detachable -- Prior to ______________ , this Warrant Certificate may
be exchanged or transferred only together with the [Title of Offered Securities]
("Offered Securities") to which this Warrant Certificate was initially attached,
and only for the purpose of effecting, or in conjunction with, an exchange or
transfer of such Offered Security. After such date, transfer of this] [if
Offered Securities with registered Warrants which are immediately detachable --
Transfer of this] Warrant Certificate may be registered when this Warrant
Certificate is surrendered at the corporate trust office of the Warrant Agent
[or __________] by the registered owner or such owner's assigns, in person or by
an attorney duly authorized in writing, in the manner and subject to the
limitations provided in the Warrant Agreement.

          [If Offered Securities with Warrants which are not immediately
detachable -- Except as provided in the immediately preceding paragraph, after]
[if Offered Securities with Warrants which are immediately detachable or Warrant
alone -- After] countersignature by the Warrant Agent and prior to the
expiration of this Warrant Certificate, this Warrant Certificate may be
exchanged at the corporate trust office of the Warrant Agent [or ____________]
for Warrant Certificates representing the same aggregate number of Warrants.

                                       A-2

<PAGE>

               This Warrant Certificate shall not entitle the holder hereof to
any of the rights of a holder of the Warrant Securities, including, without
limitation, the right to receive payments of dividends or distributions, if any,
on the Warrant Securities or to exercise any voting rights.

               This Warrant Certificate shall not be valid or obligatory for any
purpose until countersigned by the Warrant Agent.

               Dated as of ____________

                                         H.B. FULLER COMPANY

                                         By ____________________________________
                                            Its ________________________________

Attest:

____________________________________

Countersigned:

____________________________________
As Warrant Agent

By _________________________________
     Authorized Signature

                                       A-3

<PAGE>

                        [Reverse of Warrant Certificate]
                      Instructions for Exercise of Warrant

               To exercise the Warrants evidenced hereby, the holder must pay
[in United States dollars] [in cash or by certified check or official bank check
or by bank wire transfer, in each case] [by bank wire transfer] in immediately
available funds the Warrant Price in full for Warrants exercised to [insert name
of Warrant Agent] [corporate trust department] [insert address of Warrant
Agent], Attn. ______________[or ______________], which [payment] [wire transfer]
must specify the name of the holder and the number of Warrants exercised by such
holder. In addition, the holder must complete the information required below and
present this Warrant Certificate in person or by mail (certified or registered
mail is recommended) to the Warrant Agent at the appropriate address set forth
below. This Warrant Certificate, completed and duly executed, must be received
by the Warrant Agent within five business days of the [payment] [wire transfer].

                     To Be Executed Upon Exercise of Warrant

               The undersigned hereby irrevocably elects to exercise _____
Warrants, evidenced by this Warrant Certificate, to purchase ______ shares of
the [Title of Warrant Securities] (the "Warrant Securities") of H.B. Fuller
Company and represents that he has tendered payment for such Warrant Securities
[in Dollars] [in cash or by certified check or official bank check or by bank
wire transfer, in each case] [by bank wire transfer] in immediately available
funds to the order of [____________________], c/o [insert name and address of
Warrant Agent], in the amount of _____ in accordance with the terms hereof. The
undersigned requests that said principal amount of Warrant Securities be in
fully registered form in the authorized denominations, registered in such names
and delivered all as specified in accordance with the instructions set forth
below.

               If the number of Warrants exercised is less than all of the
Warrants evidenced hereby, the undersigned requests that a new Warrant
Certificate representing the remaining Warrants evidenced hereby be issued and
delivered to the undersigned unless otherwise specified in the instructions
below.

                                       A-4

<PAGE>

Dated: _________________________    Name _______________________________________

________________________________    Address ____________________________________
(Insert Social Security or Other
Identifying Number of Holder)               ____________________________________

Signature Guaranteed

____________________                Signature __________________________________
                                              (Signature must conform in all
                                              respects to name of holder as
                                              specified on the face of this
                                              Warrant Certificate and must bear
                                              a signature guarantee by a bank,
                                              trust company or member broker of
                                              the New York, Midwest or Pacific
                                              Stock Exchange)

               The Warrants evidenced hereby may be exercised at the following
addresses:

By hand at     ________________________________________________________
               ________________________________________________________
               ________________________________________________________
               ________________________________________________________

By mail at     ________________________________________________________
               ________________________________________________________
               ________________________________________________________
               ________________________________________________________

               [Instructions as to form and delivery of Warrant Securities and,
if applicable, Warrant Certificates evidencing unexercised Warrants -- complete
as appropriate.]

                                       A-5<PAGE>

                                                                    Exhibit 4(o)

                               H.B. FULLER COMPANY
                     Form of Common Stock Warrant Agreement

          COMMON STOCK WARRANT AGREEMENT dated as of _________________, ____,
between H.B. Fuller Company, a Minnesota corporation (hereinafter called the
"Company"), and ___________________________ having a corporate trust office in
_______________________________, as warrant agent (hereinafter called the
"Warrant Agent").

          WHEREAS, the Company proposes to issue [Class __] Purchase Warrants
(hereinafter called the "Warrants") entitling the holders thereof to purchase an
aggregate of _________ shares of Common Stock of the Company (par value $1.00
per share) (hereinafter called the "Shares") at an initial cash purchase price
of $______ per Share at any time [after _________________ and] prior to 3:30
p.m., New York City time, on __________________, ____ (hereinafter called the
"expiration date") (unless extended as provided in Section 9A hereof); and

[IF WARRANTS ARE ATTACHED TO OTHER SECURITIES, INSERT --

          WHEREAS, the Warrants will be offered in Units, each of which consists
of _______________________ and Warrants to purchase _________ Shares; and]

          WHEREAS, the Company desires the Warrant Agent to act on behalf of the
Company, and the Warrant Agent is willing so to act, in connection with the
issuance, registration, transfer, exchange and exercise of Warrants to be issued
from time to time by the Company,

          NOW, THEREFORE, in consideration of the premises and the mutual
agreements herein set forth, the parties hereto agree as follows:

          Section 1. Appointment of Warrant Agent. The Company hereby appoints
the Warrant Agent to act as agent for the Company in accordance with the
instructions hereinafter in this Agreement set forth, and the Warrant Agent
hereby accepts such appointment.

          Section 2. Form of Warrant. The text of the Warrants and the form of
election to purchase Shares to be set forth on the reverse thereof shall be
substantially as set forth in Exhibit A attached hereto. Each Warrant shall,
subject to the terms of this Warrant Agreement, entitle the registered holder
thereof to initially purchase the number of Shares specified therein at an
initial exercise price of $______ per Share; provided, however, that the warrant
exercise price and the number of Shares issuable upon exercise of Warrants are
subject to adjustment upon the occurrence of certain events, all as hereinafter
provided. The

                                        1

<PAGE>

Warrants shall be executed on behalf of the Company by the manual or facsimile
signature of the present or any future Chairman of the Board, President or Vice
President of the Company, under its seal, affixed or in facsimile, and by the
manual or facsimile signature of the present or any future Secretary or
Assistant Secretary of the Company.

          The Company shall promptly notify the Warrant Agent from time to time
in writing of the number of Warrants to be issued and furnish written
instructions in connection therewith signed by an executive officer of the
Company; such notification and instructions may, but need not be, in the form of
a general or continuing authorization to the Warrant Agent.

          The Warrants shall be dated by the Warrant Agent as of the date of
each initial issuance, and as of the date of issuance thereof upon any transfer
or exchange thereof.

          Section 3. Countersignature and Registration. The Warrant Agent shall
maintain books for the transfer and registration of the Warrants. Upon the
initial issuance of the Warrants, the Warrant Agent shall issue and register the
Warrants in the names of the respective registered holders thereof. The Warrants
shall be countersigned by the Warrant Agent (or by any successor to the Warrant
Agent then acting as warrant agent under this Agreement) and shall not be valid
for any purpose unless so countersigned. Such Warrants may be so countersigned,
however, by the Warrant Agent (or by its successor as warrant agent) and be
delivered by the Warrant Agent, notwithstanding that the persons whose manual or
facsimile signatures appear thereon as proper officers of the Company shall have
ceased to be such officers at the time of such countersignature or delivery.
Upon issuance of any Warrant, the Company will present the same, or cause the
same to be presented, to the Warrant Agent for countersignature of such Warrant.

          Section 4. Transfers and Exchanges. The Warrant Agent shall transfer,
from time to time, any outstanding Warrants upon the books to be maintained by
the Warrant Agent for that purpose, upon the surrender thereof for transfer
properly endorsed or accompanied by appropriate instructions for transfer. Upon
any such transfer, a new Warrant of like tenor shall be issued to the transferee
and the surrendered Warrant shall be cancelled by the Warrant Agent. All such
Warrants so cancelled shall be delivered by the Warrant Agent to the Company
from time to time. The Warrants may be exchanged at the option of the holder
thereof, when surrendered at the office in ____________________________________
of the Warrant Agent, for another Warrant, or other Warrants of different
denominations, of like tenor and representing in the aggregate the right to
purchase a like number of Shares. The Warrant Agent is hereby irrevocably
authorized to countersign and deliver, in accordance with the provisions of this
Section and Section 3 of this Agreement, such new Warrants required pursuant to
the provisions of this Section, and the Company, whenever required by the
Warrant Agent, will supply the Warrant Agent with Warrants duly executed on
behalf of the Company for such purpose.

                                       -2-

<PAGE>

[IF THE WARRANTS ARE ATTACHED TO OTHER SECURITIES, INSERT --

          Notwithstanding the foregoing, until __________________, the Warrants
shall not be transferable apart from the _____________ to which they are
attached, any transfer of the _____________ shall be deemed a transfer of the
Warrants attached thereto, and any attempt to transfer the Warrants apart from
the ___________________ shall be void and of no effect. Each Warrant shall
contain a legend to the foregoing effect.]

          Section 5. Exercise of Warrants. The registered holder of each Warrant
shall have the right, which may be exercised as in such Warrant expressed, to
purchase from the Company (and the Company shall issue and sell to such
registered holder) the number of Shares specified in such Warrants, upon
surrender to the Company, at the office in _____________________________ of the
Warrant Agent of such Warrant, with the form of election to purchase on the
reverse thereof duly filled in and signed, and upon payment to the Warrant Agent
for the account of the Company of the warrant exercise price, determined in
accordance with the provisions of Section 9 of this Agreement, for the number of
Shares in respect of which such Warrant is then exercised. Payment of such
warrant exercise price may be made in cash, or by certified check or bank draft
or postal or express money order, payable in United States dollars, to the order
of the Warrant Agent. No adjustment shall be made for any dividends on any
Shares issuable upon exercise of any Warrant. Subject to Section 6, upon such
surrender of Warrants, and payment of the warrant exercise price as aforesaid,
the Company shall issue and cause to be delivered with all reasonable dispatch
to or upon the written order of the registered holder of such Warrants, and in
such name or names as such registered holder may designate, a certificate or
certificates for the number of full Shares so purchased upon the exercise of
such Warrants, together with cash, as provided in Section 9 of this Agreement,
in respect of any fraction of a Share otherwise issuable upon such surrender.
Such certificate or certificates shall be deemed to have been issued and any
person so designated to be named therein shall be deemed to have become a holder
of record of such Shares as of the date of the surrender of such Warrants and
payment of the warrant exercise price as aforesaid; provided, however, that if,
at the date of surrender of such Warrants and payment of such warrant exercise
price, the transfer books for the Shares purchasable upon the exercise of such
Warrants shall be closed, no such surrender of such Warrants and no such payment
of such warrant exercise price shall be effective to constitute the person so
designated to be named therein as the holder of record of such Shares on such
date, but shall be effective to constitute such person as the holder of record
of such Shares for all purposes at the opening of business on the next
succeeding day on which the transfer books for the Shares purchasable upon the
exercise of such Warrants shall be opened, and the certificates for the Shares
in respect of which such Warrants are then exercised shall be issuable as of the
date on which such books shall next be opened, and until such date the Company
shall be under no duty to deliver any certificate for such Shares. The rights of
purchase represented by the Warrants shall be exercisable, at the election of
the registered holders thereof, either as an entirety or from time to time for
part only of the Shares specified therein and, in the event that any Warrant is
exercised in respect of less than all of the Shares specified therein at any
time prior to the date of expiration of the Warrants, a new Warrant or Warrants
of like tenor will be issued for the remaining number of Shares specified in the

                                       -3-

<PAGE>

Warrant so surrendered, and the Warrant Agent is hereby irrevocably authorized
to countersign and to deliver the required new Warrants pursuant to the
provisions of this Section and of Section 3 of this Agreement, and the Company,
whenever required by the Warrant Agent, will supply the Warrant Agent with
Warrants duly executed on behalf of the Company for such purpose.

          Section 6. Payment of Taxes. The Company will pay any documentary
stamp taxes attributable to the initial issuance of Shares issuable upon the
exercise of Warrants; provided, however, that the Company shall not be required
to pay any tax or taxes which may be payable in respect of any transfer involved
in the issue or delivery of any certificates for Shares in a name other than
that of the registered holder of Warrants in respect of which such Shares are
issued and the Company shall not be required to issue and deliver the
certificates for such Shares unless and until the holder has paid to the Company
the amount of any tax which may be payable in respect of any transfer involved
in such issuance or shall establish to the satisfaction of the Company that such
tax has been paid.

          Section 7. Mutilated or Missing Warrants. In case any of the Warrants
shall be mutilated, lost, stolen or destroyed, the Company will issue and the
Warrant Agent will countersign and deliver in exchange and substitution for and
upon cancellation of the mutilated Warrant, or in lieu of and substitution for
the Warrant lost, stolen or destroyed, a new Warrant of like tenor and
representing an equivalent right or interest, but only upon receipt of evidence
satisfactory to the Company and the Warrant Agent of such loss, theft or
destruction of such Warrants and indemnity, if requested, also satisfactory to
them. Applicants for such substitute Warrants shall also comply with such other
reasonable regulations and pay such other reasonable charges as the Company or
the Warrant Agent may prescribe. Any such new Warrant shall constitute an
original contractual obligation of the Company whether or not the allegedly
lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by
anyone.

          Section 8. Reservation of Shares, etc. Prior to the issuance of any
Warrants there shall have been reserved, and the Company shall at all times
through the expiration date keep reserved, out of its authorized and unissued
Common Stock, a number of Shares sufficient to provide for the exercise of the
rights of purchase represented by the Warrants, and the Transfer Agent for the
Shares and every subsequent Transfer Agent for the Shares issuable upon the
exercise of any of the rights of purchase aforesaid are hereby irrevocably
authorized and directed at all times to reserve such number of authorized and
unissued Shares as shall be requisite for such purpose. The Company will keep a
copy of this Agreement on file with the Transfer Agent for the Shares and with
every subsequent Transfer Agent for the Shares issuable upon the exercise of the
rights of purchase represented by the Warrants. The Warrant Agent is hereby
irrevocably authorized to requisition from time to time from such Transfer Agent
certificates required to honor outstanding Warrants that have been exercised.
The Company will supply such Transfer Agent with duly executed certificates for
such purpose and will itself provide or otherwise make available any cash which
may be issuable as provided in Section 9 of this Agreement. All Warrants
surrendered in the exercise of the rights thereby evidenced or surrendered for
transfer, exchange or partial

                                       -4-

<PAGE>

exercise shall be cancelled by the Warrant Agent and shall thereafter be
delivered to the Company.

          Section 9. Warrant Price; Adjustments.

          A. The warrant price per share at which Shares shall be purchasable
upon exercise of Warrants (herein called the "warrant exercise price") to and
including the expiration date (unless the expiration date is extended as
provided below in this Section 9A) shall be $______ per share, or, if adjusted
as provided in this Section, shall be such price as so adjusted. The Warrants
will not be exercisable prior to [the close of business on the date of any
initial issuance thereof] [_____________________] and will expire at 3:30 p.m.,
New York City time, on the expiration date; provided that the Company reserves
the right to, and may, in its sole discretion, at any time and from time to
time, at such time or times as the Company so determines, extend the expiration
date of the Warrants for such periods of time as it chooses; further provided
that in no case may the expiration date of the Warrants (as extended) be
extended beyond five years from the expiration date set forth above. Whenever
the expiration date of the Warrants is so extended, the Company shall at least
20 days prior to the then expiration date cause to be mailed to the Warrant
Agent and the registered holders of the Warrants in accordance with the
provisions of Section 17 hereof a notice stating that the expiration date has
been extended and setting forth the new expiration date.

          B. The above provision is, however, subject to the following:

             (1) The warrant purchase price, the number of Shares purchasable
     upon exercise of each Warrant and the number of Warrants outstanding shall
     be subject to adjustment as follows:

                    (a)  In case the Company shall at any time after the date of
          this Agreement (i) pay a dividend, or make a distribution, on the
          Common Stock which is payable in shares of its capital stock (whether
          shares of Common Stock or of capital stock of any other class), (ii)
          subdivide or reclassify its outstanding shares of Common Stock into a
          greater number of securities (including shares of Common Stock), or
          (iii) combine or reclassify its outstanding shares of Common Stock
          into a smaller number of shares (including shares of Common Stock),
          the number of shares purchasable upon exercise of each Warrant
          immediately prior to the occurrence of such event shall be adjusted so
          that the holder of each Warrant shall be entitled to receive upon
          payment of the warrant purchase price the aggregate number of shares
          of the Company which, if such Warrant had been exercised immediately
          prior to the occurrence of such event, such holder would have owned or
          have been entitled to receive immediately after the occurrence of such
          event. An adjustment made pursuant to this subparagraph (a) shall
          become effective immediately after the record date in the case of a
          dividend and shall become effective immediately after the effective
          date in the case of a subdivision or combination. If, as a result of
          an adjustment made pursuant to this

                                       -5-

<PAGE>

               subparagraph (a), the holder of any Warrant thereafter exercised
               shall become entitled to receive shares of two or more classes of
               capital stock of the Company, the Board of Directors of the
               Company (whose determination shall be conclusive) shall determine
               the allocation between or among shares of such classes of capital
               stock.

                     In the event that at any time, as a result of an adjustment
               made pursuant to this subparagraph (a), the holder of any Warrant
               thereafter exercised shall become entitled to receive any shares
               or other securities of the Company other than shares of Common
               Stock, thereafter the number of such other shares so received
               upon exercise of any Warrant shall be subject to adjustment from
               time to time in a manner and on terms as nearly equivalent as
               practicable to the provisions with respect to the shares of
               Common Stock contained in this paragraph, and other provisions of
               this paragraph 9B(1) with respect to the shares of Common Stock
               shall apply on like terms to any such other shares or other
               securities.

                     [(b) In case the Company shall fix a record date for the
               issuance of rights or warrants to all holders of its Common Stock
               entitling them (for a period expiring within 45 days after such
               record date) to subscribe for or purchase Common Stock at a price
               per share less than the current market price per share of Common
               Stock (as defined in subparagraph (e) below) at such record date,
               the warrant purchase price shall be determined by multiplying the
               warrant purchase price in effect immediately prior to such record
               date by a fraction, the numerator of which shall be the number of
               Shares of Common Stock outstanding on such record date plus the
               number of Shares of Common Stock which the aggregate offering
               price of the total number of Shares so offered would purchase at
               such current market price, and the denominator of which shall be
               the number of Shares of Common Stock outstanding on such record
               date plus the number of additional Shares of Common Stock offered
               for subscription or purchase. Such adjustment shall be made
               successively whenever such a record date is fixed, and shall
               become effective immediately after such record date. In
               determining whether any rights or warrants entitle the holders to
               subscribe for or purchase Shares of Common Stock at less than
               such current market price, and in determining the aggregate
               offering price of such shares, there shall be taken into account
               any consideration received by the Company for such rights or
               warrants, the value of such consideration, if other than cash, to
               be determined by the Board of Directors of the Company. Common
               Stock owned by or held for the account of the Company or any
               majority owned subsidiary shall not be deemed outstanding for the
               purpose of any adjustment required under this subparagraph (b).]

                     [(c) In case the Company shall fix a record date for making
               a distribution to all holders of its Common Stock of evidences of
               its

                                       -6-

<PAGE>

               indebtedness or assets (excluding regular quarterly or other
               periodic or recurring cash dividends or distributions and cash
               dividends or distributions paid from retained earnings or
               referred to in subparagraph (a) above) or rights or warrants to
               subscribe or warrants to purchase (excluding those referred to in
               subparagraph (b) above), then in each such case the warrant
               purchase price shall be determined by multiplying the warrant
               purchase price in effect immediately prior to such record date by
               a fraction (x) the numerator of which shall be such current
               market price (as defined in subparagraph (e) below) per Share of
               Common Stock on such record date, less the then fair market value
               (as determined in good faith by the Board of Directors, whose
               determination shall be conclusive) of the portion of the assets
               or evidences of indebtedness so distributed or of such
               subscription rights or warrants applicable to one share of the
               Common Stock and (y) the denominator of which shall be the
               current market price per share of the Common Stock on such record
               date. Such adjustment shall be made successively whenever such a
               record date is fixed and shall become effective immediately after
               such record date. Notwithstanding the foregoing, in the event
               that the Company shall distribute any rights or warrants to
               acquire capital stock ("Rights") pursuant to this subparagraph
               (c), the distribution of separate certificates representing such
               Rights subsequent to their initial distribution (whether or not
               such distribution shall have occurred prior to the date of the
               issuance of such Warrants) shall be deemed to be the distribution
               of such Rights for purposes of this subparagraph (c), provided
               that the Company may, in lieu of making any adjustment pursuant
               to this subparagraph (c) upon a distribution of separate
               certificates representing such Rights, make proper provision so
               that each holder of such Warrants who exercises such Warrants (or
               any portion thereof) (A) before the record date for such
               distribution of separate certificates shall be entitled to
               receive upon such exercise shares of Common Stock issued with
               Rights and (B) after such record date and prior to the
               expiration, redemption or termination of such Rights shall be
               entitled to receive upon such exercise, in addition to the shares
               of Common Stock issuable upon such exercise, the same number of
               such Rights as would a holder of the number of shares of Common
               Stock that such Warrants so exercised would have entitled the
               holder thereof to purchase in accordance with the terms and
               provisions of and applicable to the Rights if such Warrants were
               exercised immediately prior to the record date for such
               distribution. Common Stock owned by or held for the account of
               the Company or any majority owned subsidiary shall not be deemed
               outstanding for the purpose of any adjustment required under this
               subparagraph (c).]

                         (d) After each adjustment of the number of shares
               purchasable upon exercise of each Warrant pursuant to
               subparagraph 9B(1)(a), the warrant exercise price shall be
               adjusted by multiplying such warrant exercise price immediately
               prior to such adjustment by a fraction of which the numerator
               shall be the number of Shares purchasable upon exercise of each

                                       -7-

<PAGE>

          Warrant immediately prior to such adjustment, and the denominator of
          which shall be the number of Shares so purchasable immediately
          thereafter. [After each adjustment of the warrant exercise price
          pursuant to subparagraph 9B(1)(b) or (c), the total number of Shares
          or fractional part thereof purchasable upon the exercise of each
          Warrant shall be proportionately adjusted to such number of shares or
          fractional parts thereof as the aggregate warrant exercise price of
          the number of shares or fractional part thereof purchasable
          immediately prior to such adjustment will buy at the adjusted warrant
          exercise price.]

                         [(e) For the purpose of any computation under
          subparagraphs 9B(1)(b) and (c) above, the current market price per
          Share of Common Stock at any date shall be deemed to be the average of
          the daily closing prices for the 30 consecutive business days
          commencing 45 business days before the day in question. The closing
          price for each day shall be (i) if the Common Stock is listed or
          admitted for trading on the New York Stock Exchange, the last sale
          price (regular way), or the average of the closing bid and ask prices
          (regular way), if no sale occurred, of Common Stock, in either case as
          reported on the New York Stock Exchange Composite Tape or, if the
          Common Stock is not listed or admitted to trading on the New York
          Stock Exchange, on the principal national securities exchange on which
          the Common Stock is listed or admitted to trading or, if not listed or
          admitted to trading on any national securities exchange, on the
          National Market System of the National Association of Securities
          Dealers, Inc. Automated Quotations System ("NASDAQ") or, (ii) if not
          listed or quoted as described in (i), the mean between the closing
          high bid and low asked quotations of Common Stock reported by NASDAQ,
          or any similar system for automated dissemination of quotations of
          securities prices then in common use, if so quoted, or (iii) if not
          quoted as described in clause (ii), the mean between the high bid and
          low asked quotations for Common Stock as reported by the National
          Quotation Bureau Incorporated if at least two securities dealers have
          inserted both bid and asked quotations for Common Stock on at least 5
          of the 10 preceding days. If none of the conditions set forth above is
          met, the closing price of Common Stock on any day or the average of
          such closing prices for any period shall be the fair market value of
          Common Stock as determined by a member firm of the New York Stock
          Exchange selected by the Company.]

                         (f)  (A) Nothing contained herein shall be construed to
          require an adjustment as a result of the issuance of Common Stock
          pursuant to, or the granting or exercise of any rights under, the
          Company's [List employee and shareholder plans, if any, that might
          otherwise result in adjustments].

                                  (B) In addition, no adjustment in the warrant
               exercise price shall be required unless and until the earlier of

                                       -8-

<PAGE>

          the following shall have occurred: (x) such adjustment would require
          an increase or decrease of at least 1% in the warrant exercise price
          or (y) a period of 3 years shall have elapsed from the date of the
          occurrence of any event requiring any such adjustment pursuant to
          subparagraphs 9B(1)(a)[, (b) or (c)] above. All adjustments shall be
          made to the nearest one hundredth of a Share and the nearest cent, and
          any adjustments which by reason of this subparagraph (f) are not
          required to be made shall be carried forward cumulatively and taken
          into account in any subsequent adjustment which (including such
          carry-forward) is required to be made under this subparagraph (f).

                         (g) In any case in which this subparagraph 9B(1) shall
     require that an adjustment be made retroactively immediately following a
     record date, the Company may elect to defer (but only until five business
     days following the mailing of the notice described in subparagraph 9B(5)
     below) issuing to the holder of any Warrant exercised after such record
     date the Shares of the Company issuable upon such exercise over and above
     the Shares issuable upon such exercise only on the basis of the warrant
     exercise price prior to adjustment.

                         (h) The Company may, at its option, at any time until
     the expiration date, reduce the then current warrant exercise price to any
     amount deemed appropriate by the Board of Directors of the Company for any
     period not exceeding twenty (20) consecutive days (as evidenced in a
     resolution adopted by such Board of Directors), but only upon giving the
     notices required by subparagraph 9(B)(5) twenty (20) days prior to taking
     such action.

                         (i) Except as herein otherwise expressly provided, no
     adjustment in the warrant exercise price shall be made by reason of the
     issuance of Shares, or securities convertible into or exchangeable for
     Shares, or securities carrying the right to purchase any of the foregoing
     or for any other reason whatsoever.

                         (j) Irrespective of any of the adjustments in the
     warrant exercise price or the number of Shares, Warrant Certificates
     theretofore issued may continue to express the same prices and number of
     shares as are stated in a similar Warrant Certificate issuable initially,
     or at some subsequent time, pursuant to this Agreement and such number of
     Shares specified therein shall be deemed to have been so adjusted.

          (2)  No fractional Shares of Common Stock shall be issued upon the
exercise of Warrants. If more than one Warrant shall be exercised at one time by
the same holder, the number of full Shares which shall be issuable upon such
exercise shall be computed on the basis of the aggregate number of Shares
purchased pursuant

                                       -9-

<PAGE>

     to the Warrants so exercised. Instead of any fractional Share of Common
     Stock which would otherwise be issuable upon exercise of any Warrant, the
     Company shall pay a cash adjustment in respect of such fraction in an
     amount equal to the same fraction of the last sales price (or bid price if
     there were no sales) per Share of Common Stock, in either case as reported
     on the New York Stock Exchange Composite Tape on the business day which
     next precedes the day of exercise or, if the Common Stock is not then
     listed or admitted to trading on the New York Stock Exchange, an amount
     equal to the same fraction of the market price per share of Common Stock
     (as determined in a manner described by the Board of Directors of the
     Company) at the close of business on the business day which next precedes
     the day of exercise.

          (3)  In case any of the following shall occur while any Warrants are
     outstanding: (a) any reclassification or change of the outstanding Shares
     of Common Stock (other than a change in par value, or from par value to no
     par value, or from no par value to par value); or (b) any consolidation or
     merger to which the Company is a party (other than a consolidation or a
     merger in which the Company is the continuing corporation and which does
     not result in any reclassification of, or change in, the outstanding shares
     of Common Stock issuable upon exercise of the Warrants); or (c) any sale or
     conveyance to another corporation of the property of the Company as an
     entirety or substantially as an entirety; then the Company, or such
     successor or purchasing corporation, as the case may be, shall make
     appropriate provision by amendment of this Agreement or otherwise so that
     the holders of the Warrants then outstanding shall have the right at any
     time thereafter, upon exercise of such Warrants, to purchase the kind and
     amount of shares of stock and other securities and property receivable upon
     such reclassification, change, consolidation, merger, sale or conveyance as
     would be received by a holder of the number of shares of Common Stock
     issuable upon exercise of such Warrant immediately prior to such
     reclassification, change, consolidation, merger, sale or conveyance. Such
     provision shall provide for adjustments which shall be as nearly equivalent
     as may be practicable to the adjustments provided for in this Section 9.
     The above provisions of this subparagraph 9B(3) shall similarly apply to
     successive reclassifications, changes, consolidations, mergers, sales or
     conveyances.

          (4)  Before taking any action which would cause an adjustment
     decreasing the warrant exercise price so that the warrant exercise price is
     below the then par value of the shares of Common Stock, the Company will
     take any corporate action which may, in the opinion of its counsel, be
     necessary in order that the Company may validly and legally issue fully
     paid and nonassessable Shares of Common Stock at the warrant exercise price
     as so adjusted.

          (5)  Whenever the warrant exercise price then in effect is adjusted as
     herein provided, the Company shall mail to each holder of the Warrants at
     such holder's address as it shall appear on the books of the Company a
     statement setting forth the adjusted warrant exercise price then and
     thereafter effective under the

                                      -10-

<PAGE>

     provisions hereof, together with the facts, in reasonable detail, upon
     which such adjustment is based.

               (6)    In case (i) the Company shall declare a dividend (or any
     other distribution) on its Common Stock payable otherwise than in cash out
     of its current or retained earnings, or (ii) the Company shall authorize
     the granting to the holders of its Common Stock of rights to subscribe for
     or purchase any shares of capital stock of any class or of any other
     rights, or (iii) there is to be any reclassification of the Common Stock of
     the Company (other than a subdivision or combination of its outstanding
     shares of Common Stock), or any consolidation or merger to which the
     Company is a party and for which approval of any shareholders of the
     Company is required, or (iv) any distribution is to be made on or in
     respect of the Common Stock in connection with the dissolution, liquidation
     or winding up of the Company, then the Company shall mail to each holder of
     Warrants at such holder's address as it shall appear on the books of the
     Company, at least twenty days (or ten days in any case specified in clause
     (i) or (ii) above) prior to the applicable record date hereinafter
     specified, a notice stating (x) the record date for such dividend,
     distribution or rights, or, if a record is not to be taken, the date as of
     which the holders of Common Stock of record to be entitled to such
     dividend, distribution or rights are to be determined, or (y) the date on
     which such reclassification, consolidation, merger, dissolution,
     liquidation or winding up is expected to become effective, and the date as
     of which it is expected that holders of Common Stock of record shall be
     entitled to exchange their shares of Common Stock for securities or other
     property deliverable upon such reclassification, consolidation, merger,
     dissolution, liquidation or winding up. No failure to mail such notice nor
     any defect therein or in the mailing thereof shall affect any such
     transaction or any adjustment in the warrant exercise price required by
     this Section 9.

          Section 10. Notice to Warrantholders. Nothing contained in this
Agreement or in any of the Warrants shall be construed as conferring upon the
holders thereof the right to vote or to consent or to receive notice as
shareholders in respect of the meetings of shareholders or the election of
directors of the Company or any other matter, or any rights whatsoever as
shareholders of the Company.

          Section 11. Certain Covenants of the Company.

          A.   So long as any unexpired Warrants remain outstanding and if
required in order to comply with the Securities Act of 1933, as amended (the
"Act"), the Company covenants and agrees that it will file such post-effective
amendments to the registration statement filed pursuant to the Act with respect
to the Warrants (File No. 333-_____) (or such other registration statements or
post-effective amendments or supplements) as may be necessary to permit the
Company to deliver to each person exercising a Warrant a prospectus meeting the
requirements of Section 10(a)(3) of the Act and otherwise complying therewith,
and will deliver such a prospectus to each such person. The Company further
covenants and agrees that it will obtain and keep effective all permits,
consents and approvals of

                                      -11-

<PAGE>

governmental agencies and authorities, and will use its best efforts to take all
action which may be necessary to qualify the Shares for sale under the
securities laws of such of the United States, as may be necessary to permit the
free exercise of the Warrants, and the issuance, sale, transfer and delivery of
the Shares issued upon exercise of the Warrants, and to maintain such
qualifications during the entire period in which the Warrants are exercisable.

          B.   The Company covenants and agrees that it shall take all such
action as may be necessary to ensure that all Shares will at the time of
delivery of certificates for such Shares (subject to payment of the warrant
exercise price) be duly and validly authorized and issued and fully paid and
nonassessable Shares, free from any preemptive rights and taxes, liens, charges
and security interests created by or imposed upon the Company.

          C.   The Company covenants and agrees that it will take all action
which may be necessary to cause the Shares to be duly listed on the New York
Stock Exchange or any securities exchange on which the other shares of Common
Stock of the Company are listed or on the National Market System of NASDAQ at
the dates of exercise of the Warrants.

          Section 12. Disposition of Proceeds, etc.

          A.   The Warrant Agent shall account promptly to the Company with
respect to Warrants exercised and concurrently pay to the Company all moneys
received by the Warrant Agent for the purchase of Shares through the exercise of
such Warrants.

          B.   The Warrant Agent shall keep copies of this Agreement available
for inspection by holders of Warrants during normal business hours at its
principal office in the City of __________, __________.

          Section 13. Merger or Consolidation or Change of Name of Warrant
Agent. Any corporation into which the Warrant Agent may be merged or with which
it may be consolidated, or any corporation resulting from any merger or
consolidation to which the Warrant Agent shall be a party, or any corporation
succeeding to the corporate trust business of the Warrant Agent, shall be the
successor to the Warrant Agent hereunder without the execution or filing of any
paper or any further act on the part of any of the parties hereto, provided that
such corporation would be eligible for appointment as a successor Warrant Agent
under the provisions of Section 15 of this Agreement. In case at the time such
successor to the Warrant Agent shall succeed to the agency created by this
Agreement, and if any of the Warrants shall have been countersigned but not
delivered, any such successor to the Warrant Agent may adopt the
countersignature of the original Warrant Agent and deliver such Warrants so
countersigned; and in case at that time any of the Warrants shall not have been
countersigned, any successor to the Warrant Agent may countersign such Warrants
either in the name of the predecessor Warrant Agent or in the name of the
successor Warrant Agent; and in all such cases such Warrant shall have the full
force provided in the Warrants and in this Agreement.

                                      -12-

<PAGE>

          In case at any time the name of the Warrant Agent shall be changed and
at such time any of the Warrants shall have been countersigned but not
delivered, the Warrant Agent may adopt the countersignature under its prior name
and deliver Warrants so countersigned; and in case at that time any of the
Warrants shall not have been countersigned, the Warrant Agent may countersign
such Warrants either in its prior name or in its changed name; and in all such
cases such Warrants shall have the full force provided in the Warrants and in
this Agreement.

          Section 14. Duties of Warrant Agent. The Warrant Agent undertakes the
duties and obligations imposed by this Agreement upon the following terms and
conditions, by all of which the Company and the holders of Warrants, by their
acceptance thereof, shall be bound:

          A.   The statements contained herein and in the Warrants shall be
taken as statements of the Company, and the Warrant Agent assumes no
responsibility for the correctness of any of the same except such as describe
the Warrant Agent or action taken or to be taken by it. The Warrant Agent
assumes no responsibility with respect to the distribution of the Warrants
except as herein otherwise provided.

          B.   The Warrant Agent shall not be responsible for any failure of the
Company to comply with any of the covenants contained in this Agreement or in
the Warrants to be complied with by the Company.

          C.   The Warrant Agent may execute and exercise any of the rights or
powers hereby vested in it or perform any duty hereunder either itself or by or
through its attorneys, agents or employees, and the Warrant Agent shall not be
answerable or accountable for any act, default, neglect or misconduct of any
such attorneys, agents or employees or for any loss to the Company resulting
from such neglect or misconduct, provided reasonable care shall have been
exercised in the selection and continued employment thereof.

          D.   The Warrant Agent may consult at any time with counsel
satisfactory to it (who may be counsel for the Company), and the Warrant Agent
shall incur no liability or responsibility to the Company or to any holder of
any Warrant in respect of any action taken, suffered or omitted by it hereunder
in good faith and in accordance with the opinion or the advice of such counsel.

          E.   The Warrant Agent shall incur no liability or responsibility to
the Company or to any holder of any Warrant for any action taken in reliance on
any notice, resolution, waiver, consent, order, certificate, or other paper,
document or instrument believed by it to be genuine and to have been signed,
sent or presented by the proper party or parties.

                                      -13-

<PAGE>

          F.   The Company agrees to pay to the Warrant Agent agreed upon
compensation for all services rendered by the Warrant Agent in the execution of
this Agreement, to reimburse the Warrant Agent for all expenses, taxes and
governmental charges and other charges of any kind and nature incurred by the
Warrant Agent in the execution of this Agreement and to indemnify the Warrant
Agent and save it harmless against any and all liabilities, including judgments,
costs and reasonable counsel fees, for anything done or omitted by the Warrant
Agent in the execution of this Agreement except as a result of the Warrant
Agent's negligence, bad faith or willful misconduct.

          G.   The Warrant Agent shall be under no obligation to institute any
action, suit or legal proceeding or to take any other action likely to involve
expense unless the Company or one or more registered holders of Warrants shall
furnish the Warrant Agent with reasonable security and indemnity for any costs
and expenses which may be incurred, but this provision shall not affect the
power of the Warrant Agent to take such action as the Warrant Agent may consider
proper, whether with or without any such security or indemnity. All rights of
action under this Agreement or under any of the Warrants may be enforced by the
Warrant Agent without the possession of any of the Warrants or the production
thereof at any trial or other proceeding relative thereto, and any such action,
suit or proceeding instituted by the Warrant Agent shall be brought in its name
as Warrant Agent, and any recovery of judgment shall be for the ratable benefit
of the registered holders of the Warrants, as their respective rights or
interests may appear.

          H.   The Warrant Agent and any shareholder, director, officer or
employee of the Warrant Agent may buy, sell or deal in any of the Warrants or
other securities of the Company or become pecuniarily interested in any
transaction in which the Company may be interested, or contract with or lend
money to or otherwise act as fully and freely as though it were not Warrant
Agent under this Agreement. Nothing herein shall preclude the Warrant Agent from
acting in any other capacity for the Company or for any other legal entity.

          I.   The Warrant Agent shall act hereunder solely as agent and not in
a ministerial capacity, and its duties shall be determined solely by the
provisions hereof. The Warrant Agent shall not be liable for anything which it
may do or refrain from doing in connection with this Agreement except for its
own gross negligence or bad faith.

          Section 15. Change of Warrant Agent. The Warrant Agent may resign and
be discharged from its duties under this Agreement by giving to the Company
notice in writing, and to the holders of the Warrants notice by publication, of
such resignation, specifying a date when such resignation shall take effect,
which notice shall be published at the expense of the Company at least once a
week for two consecutive weeks in a newspaper of general circulation in the City
of New York prior to the date so specified. The Warrant Agent may be removed by
the Company by like notice from the Company to the Warrant Agent and the holders
of Warrants at the expense of the Company. If the Warrant Agent shall resign or
be removed or shall otherwise become incapable of acting, the Company shall
appoint a successor to the Warrant Agent. If the Company shall fail to make such
appointment within a period of 30 days after such removal or after it has been
notified in

                                      -14-

<PAGE>

writing of such resignation or incapacity by the resigning or incapacitated
Warrant Agent or by the registered holder of a Warrant (who shall, with such
notice, submit his Warrant for inspection by the Company), then, at the expense
of the Company, the Warrant Agent or the registered holder of any Warrant may
apply to any court of competent jurisdiction for the appointment of a successor
to the Warrant Agent. Any successor Warrant Agent, whether appointed by the
Company or by such a court, shall be a bank or trust company, in good standing,
incorporated under the laws of any State or of the United States of America,
having at the time of its appointment as Warrant Agent a combined capital and
surplus of at least $50,000,000. After appointment the successor Warrant Agent
shall be vested with the same powers, rights, duties and responsibilities as if
it had been originally named as Warrant Agent without further act or deed; but
the former Warrant Agent shall deliver and transfer to the successor Warrant
Agent any property at the time held by it hereunder, and execute and deliver any
further assurance, conveyance, act or deed necessary for the purpose. Failure to
file or publish any notice provided for in this Section, however, or any defect
therein, shall not affect the legality or validity of the resignation or removal
of the Warrant Agent or the appointment of the successor Warrant Agent, as the
case may be.

          Section 16. Identity of Transfer Agent. Forthwith upon the appointment
of any Transfer Agent for the Shares or of any subsequent Transfer Agent for
Shares issuable upon the exercise of the rights of purchase represented by the
Warrants, the Company will file with the Warrant Agent a statement setting forth
the name and address of such Transfer Agent.

          Section 17. Notices. Any notice pursuant to this Agreement to be given
or made by the Warrant Agent or by the registered holder of any Warrant to or on
the Company shall be sufficiently given or made if sent by first-class mail,
postage prepaid, addressed (until another address is filed in writing by the
Company with the Warrant Agent) as follows:

                  H.B Fuller Company
                  1200 Willow Lake Boulevard
                  St. Paul, Minnesota 55110-5101
                  Attention: Corporate Secretary

Any notice pursuant to this Agreement to be given or made by the Company or by
the registered holder of any Warrant to or on the Warrant Agent shall be
sufficiently given or made if sent by first-class mail, postage prepaid,
addressed (until another address is filed in writing by the Warrant Agent with
the Company) as follows:

                  _______________________________
                  _______________________________
                  _______________________________
                  _______________________________

                                      -15-

<PAGE>

          Any notice pursuant to this Agreement to be given or made by the
Company or the Warrant Agent to the registered holder of any Warrant shall be
sufficiently given or made (unless otherwise specifically provided for herein)
if sent by first-class mail, postage prepaid, addressed to said registered
holder at his address appearing on the Warrant register.

          Section 18. Supplements and Amendments. The parties hereto may from
time to time supplement or amend this Agreement without the approval of any
holders of Warrants in order to cure any ambiguity or to correct or supplement
any provision contained herein which may be defective or inconsistent with any
other provision herein, or to make any other provisions in regard to matters or
questions arising hereunder which the Company and the Warrant Agent may deem
necessary or desirable and which will not materially adversely affect the
interest of the registered holders of the Warrants. The parties hereto may also
modify or amend this Agreement and the terms of the Warrants with the consent of
the holders of not less than a majority in number of the then outstanding
unexercised Warrants affected thereby; provided that no such modification or
amendment that accelerates the expiration date, increases the exercise price,
reduces the number of outstanding Warrants the consent of the holders of which
is required for any such modification or amendment, or otherwise materially
adversely affects the rights of the holders of the Warrants, may be made without
the consent of each holder affected thereby.

          Section 19. Successors. All the covenants and provisions of this
Agreement by or for the benefit of the Company or the Warrant Agent shall bind
and inure to the benefit of their respective successors and assigns hereunder.

          Section 20. Law Governing Contract. This Agreement and each Warrant
issued hereunder shall be deemed to be a contract made under the laws of the
State of Minnesota and for all purposes shall be construed in accordance with
the laws of said State.

          Section 21. Benefits of This Agreement. Nothing in this Agreement
shall be construed to give to any person or entity other than the Company and
the Warrant Agent and the holders of Warrants any legal or equitable right,
remedy or claim under this Agreement, but this Agreement shall be for the sole
and exclusive benefit of the Company and the Warrant Agent and the holders of
Warrants.

          Section 22. Counterparts. This Agreement may be executed in any number
of counterparts, and each of such counterparts shall for all purposes be deemed
to be an original, and all such counterparts shall together constitute but one
and the same instrument.

[IF THE WARRANTS ARE SUBJECT TO ACCELERATION BY THE COMPANY, INSERT --

          Section 23. Acceleration of Warrants by the Company.

          A.   At any time on or after __________________, the Company shall
have the right to accelerate any or all Warrants at any time by causing them to
expire at the close

                                      -16-

<PAGE>

of business on the day next preceding a specified date (the "Acceleration
Date"), if the Market Price (as hereinafter defined) of the Common Stock equals
or exceeds ______ percent (___%) of the then effective warrant exercise price,
adjusted as if no changes in such warrant exercise price had been made pursuant
to subsection 9B, on any 20 Trading Days (as hereinafter defined) within a
period of 30 consecutive Trading Days ending no more than five Trading Days
prior to the date on which the Company gives notice to the Warrant Agent of its
election to accelerate the Warrants.

          B.   "Market Price" for each Trading Day shall be, if the Common Stock
is listed or admitted for trading on the New York Stock Exchange, the last
reported sale price, regular way (or, if no such price is reported, the average
of the reported closing bid and asked prices, regular way) of Common Stock, in
either case as reported on the New York Stock Exchange Composite Tape or, if the
Common Stock is not listed or admitted to trading on the New York Stock
Exchange, on the principal national securities exchange on which the Common
Stock is listed or admitted to trading or, if not listed or admitted to trading
on any national securities exchange, on the National Market System of NASDAQ or,
if not listed or admitted to trading on any national securities exchange or
quoted on the National Market System of NASDAQ, the average of the closing high
bid and low asked prices in the over-the-counter market, as reported by NASDAQ,
or such other system then in use, or if on any such date the Shares of Common
Stock are not quoted by any such organization, the average of the closing bid
and asked prices as furnished by any New York Stock Exchange firm selected from
time to time by the Company for the purpose. "Trading Day" shall be each Monday
through Friday, other than any day on which securities are not traded in the
system or on the exchange that is the principal market for the Common Stock, as
determined by the Board of Directors of the Company.

          C.   In the event of an acceleration of less than all of the Warrants,
the Warrant Agent shall select the Warrants to be accelerated by lot, pro rata
or in such other manner as it deems, in its discretion, to be fair and
appropriate.

          D.   Notice of an acceleration specifying the Acceleration Date shall
be sent by mailing first class, postage prepaid, to each registered holder of a
Warrant Certificate representing a Warrant accelerated at such holder's address
appearing on the Warrant register not more than 60 days nor less than 30 days
before the Acceleration Date. Such notice of an acceleration also shall be given
no more than 20 days, and no less than 10 days, prior to the mailing of notice
to registered holders of Warrants pursuant to this Section, by publication at
least once in a newspaper of general circulation in the City of New York.

          E.   Any Warrant accelerated may be exercised until the 3:30 p.m., New
York City time, on the business day next preceding the Acceleration Date. The
warrant exercise price shall be payable as provided in Section 5.]

                                      -17-

<PAGE>

          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be duly executed, all as of the day and year first above written.

                                       H.B. FULLER COMPANY

                                       By ______________________________________
                                          Its __________________________________

Attest:

________________________________________

                                       _________________________________________
                                       Warrant Agent

                                       By ______________________________________
                                          Its___________________________________

Attest:

________________________________________

                                      -18-

<PAGE>

                                [Form of Warrant]

                     Unless extended, Void After 3:30 P.M.,
                   New York City time, _______* _______, ____

[IF THE WARRANTS ARE ATTACHED TO OTHER SECURITIES, INSERT THE FOLLOWING --
[UNTIL ______________,] THE WARRANTS REPRESENTED BY THIS CERTIFICATE SHALL NOT
BE TRANSFERABLE APART FROM THE _____________ TO WHICH THEY ARE ATTACHED, ANY
TRANSFER OF THE _____________ SHALL BE DEEMED A TRANSFER OF THE WARRANTS
ATTACHED THERETO, AND ANY ATTEMPT OF TRANSFER THE WARRANTS APART FROM THE
_____________ SHALL BE VOID AND OF NO EFFECT.]

No. ___                                                      Warrant to Purchase
                                                     ____ Shares of Common Stock

                                CLASS __ WARRANT

                               H.B. FULLER COMPANY

          FOR VALUE RECEIVED, H.B. Fuller Company (the "Company"), upon the
surrender [after _______________] and prior to 3:30 P.M., New York City time,
________* _______, ____ (unless extended) of this Warrant for exercise, with the
exercise form on the reverse side hereof duly executed, at the office of
______________________, will sell and deliver or cause to be sold and delivered
to __________________ or assigns (the "Warrant Holder") a certificate or
certificates for the number of whole shares purchasable, as indicated above, of
fully paid and non-assessable shares of Common Stock ($1.00 par value) of the
Company (the "Shares"), for which this Warrant is exercised, at a price of
$_____ per Share (the "Warrant Price"), subject to all the terms, provisions and
conditions of a Common Stock Warrant Agreement dated as of ____________, ____
(the "Warrant Agreement"), executed by the Company and
_________________________________________________ (the "Warrant Agent"), which
Warrant Agreement is hereby incorporated herein by reference and made a part
hereof.

          1. The Warrant Price shall be payable [in cash, certified check, bank
draft, postal or express money order or by bank wire transfer, in each case,]
[by bank wire transfer] in immediately available funds, payable in United States
dollars, to the order of the Warrant Agent. In certain events the Warrant Price
and the number of Shares deliverable on exercise of this Warrant are subject to
adjustments, as provided in the Warrant Agreement. No certificates for a
fractional Share will be issued. As to any fraction of a Share which would

--------------------------

* The Expiration date; see pages 1 of the Warrant Agreement.

                                       19

<PAGE>

otherwise be purchasable on the exercise of a Warrant, the Company shall pay the
cash value thereof determined as provided in the Warrant Agreement.

          2. This Warrant is issued in accordance with the Warrant Agreement in
which the rights of the Warrant Holders and the terms, provisions and conditions
upon which this Warrant has been executed and delivered and may be exercised are
more fully set forth. Every Warrant Holder, by acceptance hereof, assents to all
the terms, provisions and conditions of the Warrant Agreement. A counterpart of
the Warrant Agreement is on file at the office of the Company in St. Paul,
Minnesota, and at the office of the Warrant Agent in __________, __________.

          3. In the event this Warrant shall not be exercised on or before
________* _______, ____, unless said date is extended as provided for in Section
9 of the Warrant Agreement, this Warrant shall become void and all rights
hereunder shall cease.

          Reference is made to the further provisions of this Warrant set forth
on the reverse hereof. Such further provisions shall for all purposes have the
same effect as though fully set forth at this place.

          This Warrant shall not be valid for any purpose until it shall have
been countersigned by the Warrant Agent.

                                      -20-

<PAGE>

          IN WITNESS WHEREOF, the Company has caused this Warrant to be executed
in its name and on its behalf by the facsimile signatures of its duly authorized
officers and a facsimile of its seal.

Dated:  ______________________

                                        H.B. FULLER COMPANY

                                        By _____________________________________
                                           Its _________________________________

Attest:

________________________________________
________________________________________

Countersigned:

________________________________________
________________________________________
Warrant Agent

By _____________________________________
   Authorized Signature

                                      -21-

<PAGE>

                              [REVERSE OF WARRANT]

          4.   Subject to the provisions of paragraph 3 contained on the face of
this Warrant, (a) this Warrant, with or without other Warrants, upon surrender
at the office of the Warrant Agent, may be exchanged for another Warrant or
Warrants of like tenor in denominations entitling the Warrant Holder to purchase
a like aggregate number of Shares, but only to the extent provided in the
Warrant Agreement, or (b) this Warrant may be transferred at the office of the
Warrant Agent by the Warrant Holder or his assigns, in person or by attorney
duly authorized in writing, but only in the manner provided in the Warrant
Agreement and upon surrender of this Warrant. If this Warrant shall be exercised
in part, the Warrant Holder shall be entitled to receive, upon surrender hereof,
another Warrant or Warrants of like tenor for the number of whole Shares not
purchased upon such exercise.

          5.   No Warrant Holder shall be entitled to vote or receive dividends
or be deemed the holder of Shares of the Company for any purpose, nor shall
anything contained in the Warrant Agreement or herein be construed to confer
upon the Warrant Holder, as such, any of the rights of a shareholder of the
Company or any right to vote for the election of directors of the Company, or
upon any matter submitted to shareholders at any meeting thereof, or to give or
withhold consent to any action (whether upon any recapitalization, issue of
securities, reclassification of securities, consolidation, merger, conveyance or
otherwise) or to receive notice of meetings or other action affecting
shareholders (except for notices as provided for in the Warrant Agreement), or
to receive dividends or subscription rights or otherwise, until this Warrant
shall have been exercised and the Shares purchasable on the exercise hereof
shall have become deliverable as provided in the Warrant Agreement.

          6.   Every holder of a Warrant, by accepting this Warrant, consents
and agrees with the Company, the Warrant Agent and with every subsequent holder
of this Warrant that until this Warrant is transferred on the books of the
Warrant Agent, the Company and the Warrant Agent may treat the registered holder
hereof as the absolute owner hereof for all purposes notwithstanding any notice
to the contrary.

          7.   The Company represents and warrants that the Shares to be issued
by it as provided in the Warrant Agreement have been duly authorized and, when
so issued in accordance with the Warrant Agreement, will be validly issued,
fully-paid and non-assessable. The Company represents and warrants that it has
authority to execute and deliver the Warrant Agreement and the Warrants
thereunder, but the Warrant Agent makes no representation with respect thereto,
or with respect to the validity or sufficiency of the Warrants, the Warrant
Agreement or the Shares.

                                      -22-

<PAGE>

                                FORM OF EXERCISE

             (Form of exercise to be executed by the Warrant Holder
                            at the time of exercise)

To _____________________
 ___________________, Warrant
Agent:

          The undersigned, holder of the within Warrant, (1) exercises his right
to purchase _________ of the Shares of Common Stock ($1.00 par value) of H.B.
Fuller Company, which the undersigned is entitled to purchase under the terms of
the within Warrant, and (2) makes payment in full for the number of Shares of
Common Stock so purchased by payment of $_________ in cash.

          Please issue the certificate for Shares of Common Stock (and any new
Warrants in the case of a partial exercise) as follows:

________________________________________________________________________________
                               Print or Type Name

________________________________________________________________________________
                   Social Security or other Identifying Number

________________________________________________________________________________
                                 Street Address

________________________________________________________________________________
          City                   State              Zip Code

                                      -23-

<PAGE>

and deliver it (together with any new Warrants in the case of a partial
exercise) to the above address unless a different address is indicated below.

Dated:  __________________

                                     ___________________________________________
                                                     Signature

                                                                  (Signature
                               must conform in all respects to name of holder as
                               specified on the face of the Warrant)

To be used only for special instructions for delivery.
Deliver to:

________________________________________________________________________________
                               Print or Type Name

________________________________________________________________________________
                                 Street Address

________________________________________________________________________________
           City                  State              Zip Code

                                      -24-

<PAGE>

                                   ASSIGNMENT

                      (Form of assignment to be executed if
                   Warrant Holder desires to transfer Warrant)

          FOR VALUE RECEIVED, _______________________ hereby sells, assigns and
transfers unto

________________________________________________________________________________
                               Print or Type Name

________________________________________________________________________________
                                 Street Address

________________________________________________________________________________
          City                   State             Zip Code

________________________________________________________________________________
                   Social Security or other Identifying Number

the right represented by the within Warrant to purchase _________ Shares of
Common Stock ($1.00 par value) of H.B. Fuller Company to which the within
Warrant relates and appoints _____________________ attorney to transfer such
right on the books of the Warrant Agent with full power of substitution in the
Premises.

Dated:  ___________________

                                           _____________________________________
                                                        Signature

                                                                   (Signature
                               must conform in all respects to name of holder as
                               specified on the face of the Warrant)

________________________________
Signature Guaranteed

                                      -25-

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