Document:

exv10w1

 

Exhibit 10.1

SECOND AMENDMENT TO CREDIT AGREEMENT

     This SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment‘”), dated as of April 25,
2008, among IMATION CORP., a Delaware corporation (“Imation”), IMATION ENTERPRISES CORP., a
Delaware corporation (“Enterprises”) (each of Imation and Enterprises being referred to
herein as a “Borrower” and together as the “Borrowers”), each lender from time to
time party to the Credit Agreement referred to below (each, a “Lender”, and collectively,
the “Lenders”), and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the
“Administrative Agent”) and L/C Issuer.

RECITALS

     A. The Borrowers, the Lenders, and the Administrative Agent are party to a Credit
Agreement dated as of March 29, 2006, as amended by that Amendment to Credit Agreement
dated as of July 24, 2007 (as so amended, the “Credit Agreement”), pursuant to which
the Administrative Agent and the Lenders have extended certain credit facilities to the Borrower.

     B. The Borrowers have requested that the Administrative Agent and the Lenders
agree to certain amendments and waivers with respect to the Credit Agreement, and the Lenders
have agreed to such request, subject to the terms and conditions of this Amendment.

     NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto hereby agree as follows:

     1. Defined Terms. Unless otherwise defined herein, capitalized terms used herein shall
have the meanings, if any, assigned to such terms in the Credit Agreement. As used herein, (a)
“Amendment Documents” means this Amendment, the Credit Agreement (as amended by this
Amendment), the Guarantor Consent and each certificate and other document executed and delivered by
the Borrowers or any Guarantor pursuant to Section 6 hereof, and (b) “Guarantor
Consent” means a Guarantor Consent in substantially the form attached hereto as Exhibit
A.

     2. Interpretation. The rules of interpretation set forth in Sections 1.02,
1.03, 1.04, 1.05, 1.06 and 1.07 of the Credit Agreement
shall be applicable to this Amendment and are incorporated herein by this reference.

     3. Amendments to Credit Agreement. Subject to the terms and conditions hereof, and
with effect from and after the Effective Date, the Credit Agreement shall be amended as follows:

     (a) Section 1.01 of the Credit Agreement shall be amended, at the
definition of “Inactive Subsidiary”, by amending and restating such definition to read as
follows:

     “Inactive Subsidiary” means, as of any time of determination, a
Subsidiary that (a) is either (i) the Imation Club of the U.S., Inc. or Imation
Online Service Corp., or (ii) a Foreign Subsidiary, (b) has at such time less than
$100,000 in assets, and (c) is not at such time engaged in any ongoing business.

 

 

     (b) Section 1.01 of the Credit Agreement shall be further amended, at the definition
of “Letter of Credit,” by amending and restating such definition to read as follows:

   “Letter of Credit” means any letter of credit issued hereunder and
shall include the Existing Letters of Credit. A Letter of Credit may be a
commercial letter of credit or a standby letter of credit.

     (c) Section 2.03(a)(iii)(C) of the Credit Agreement shall be amended and restated to
read in full as follows:

   (C) except as otherwise agreed by the Administrative Agent and the L/C
Issuer, such Letter of Credit is in an initial stated amount less than $100,000, in
the case of a commercial Letter of Credit, or $500,000, in the case of a standby
Letter of Credit;

     (d) Section 6.12 of the Credit Agreement shall be amended by adding the following
language at the end thereof:

“Notwithstanding the foregoing, the Borrower shall be under no obligation under this
Section 6.12 in respect of (i) Imation Data Storage LLC, a Delaware
corporation, provided and so long as such Person holds no material assets other than
a 1% direct or indirect equity interest in Imation Data Storage Holdings CV, or (ii)
Imation Online Service Corp., a New York corporation, provided and so long as such
Person does not have assets in excess of $100,000, and conducts no business
activities.”

     (e) The Credit Agreement shall be further amended by amending and restating
Schedule 5.06 to read in full as that schedule attached hereto as Exhibit
B.

     (f) The Credit Agreement shall be further amended by amending and restating Schedule
5.13 to read in full as that schedule attached hereto as Exhibit C.

     (g) The Credit Agreement shall be further amended by amending and restating Schedule
5.17 to read in full as that schedule attached hereto as
Exhibit D.

     4. Waiver. The Lenders hereby waive, with effect from the date any delivery under such
section is or was required, any requirement under Section 6.12 of the Credit Agreement
solely in relation to Imation Online Service Corp. and Imation Data Storage LLC.

     5. Representations and Warranties. Each Borrower hereby represents and warrants to the
Administrative Agent and the Lenders as follows:

     (a) After giving effect to this Amendment, no Default has occurred and is continuing.

     (b) The execution, delivery and performance by each Borrower of this Amendment and of each
Guarantor of the Guarantor Consent have been duly authorized by all necessary corporate and other
action and do not and will not require any registration with, consent or
approval of, or notice to or action by, any Person (including any Governmental Authority) in order
to be effective and enforceable.

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     (c) The Amendment Documents constitute the legal, valid and binding obligations of each
Borrower and each Guarantor, as applicable, and are enforceable against each such Person in
accordance with their respective terms, without defense, counterclaim or offset.

     (d) All representations and warranties of the Borrowers contained in Article V of the
Credit Agreement are true and correct on and as of the Effective Date, except to the extent that
any such representation and warranty specifically relates to an earlier date.

     (e) Each Borrower is entering into this Amendment on the basis of its own investigation
and for its own reasons, without reliance upon the Administrative Agent, the Lenders or any
other Person.

     6. Effective Date.

     (a) This Amendment will become effective when each of the following conditions

precedent has been satisfied (the “Effective Date”):

     (i) The Administrative Agent shall have received from each Borrower, the L/C
Issuer and the Required Lenders a duly executed original (or, if elected by the
Administrative Agent, an executed facsimile copy) counterpart to this Amendment.

     (ii) The Administrative Agent shall have received from each Guarantor a duly executed
original (or, if elected by the Administrative Agent, an executed facsimile copy)
counterpart to the Guarantor Consent.

     (iii) The Administrative Agent shall have received from each Borrower a
certificate signed by the secretary or assistant secretary of such Borrower, dated the
Effective Date, in form and substance satisfactory to the Administrative Agent, and
certifying evidence of the authorization of the execution, delivery and performance by such
Borrower of this Amendment.

     (iv) The Administrative Agent shall have received, in form and substance
satisfactory to it, such additional approvals, consents, opinions, documents and other
information as the Administrative Agent shall request.

     (b) For purposes of determining compliance with the conditions specified in this
Section 6, each Lender that has executed this Amendment and delivered it to the
Administrative Agent shall be deemed to have consented to, approved or accepted, or to be satisfied with,
each document or other matter either sent, or made available for inspection, by the Administrative
Agent to such Lender for consent, approval, acceptance or satisfaction, or required
thereunder to be consented to or approved by or acceptable or satisfactory to such Lender.

3

 

     (c) From and after the Effective Date, the Credit Agreement is amended as set forth herein.
Except as expressly amended pursuant hereto, the Credit Agreement shall remain unchanged and in
full force and effect and is hereby ratified and confirmed in all respects.

     (d) The Administrative Agent will notify the Borrowers and the Lenders of the occurrence
of the Effective Date.

     7. Reservation of Rights. Each Borrower acknowledges and agrees that neither the
execution nor the delivery by the Administrative Agent and the Lenders of this Amendment, shall (a)
be deemed to create a course of dealing or otherwise obligate the Administrative Agent or the
Lenders to execute similar amendments or waivers under the same or similar circumstances in the
future or (b) be deemed to create any implied waiver of any right or remedy of the Lender with
respect to any term or provision of any Loan Document.

     8. Miscellaneous.

     (a) This Amendment shall be binding upon and inure to the benefit of the parties hereto and
thereto and their respective successors and assigns. No third party beneficiaries are intended in
connection with this Amendment.

     (b) THIS AMENDMENT IS SUBJECT TO THE PROVISIONS OF SECTIONS 10.15 AND
10.16 OF THE CREDIT AGREEMENT RELATING TO GOVERNING LAW, VENUE AND WAIVER OF RIGHT TO
TRIAL BY JURY, THE PROVISIONS OF WHICH ARE BY THIS REFERENCE INCORPORATED HEREIN IN FULL.

     (c) This Amendment may be executed in any number of counterparts, each of which shall be
deemed an original, but all such counterparts together shall constitute but one and the same
instrument. Transmission of signatures of any party by facsimile shall for all purposes be deemed
the delivery of original, executed counterparts thereof and the Administrative Agent is hereby
authorized to make sufficient photocopies thereof to assemble complete counterparty documents.

     (d) This Amendment, together with the other Amendment Documents and the Credit Agreement,
contains the entire and exclusive agreement of the parties hereto with reference to the matters
discussed herein and therein. This Amendment supersedes all prior drafts and communications with
respect thereto. This Amendment may not be amended except in accordance with the provisions of
Section 10.01 of the Credit Agreement.

     (e) If any term or provision of this Amendment shall be deemed prohibited by or invalid under
any applicable law, such provision shall be invalidated without affecting the remaining provisions
of this Amendment or the Credit Agreement, respectively.

     (f) Each Borrower covenants to pay to or reimburse the Administrative Agent, upon demand, for
all costs and expenses (including allocated costs of in-house counsel) incurred in connection with
the development, preparation, negotiation, execution and delivery of this Amendment.

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     (g) This Amendment shall constitute a “Loan Document” under and as defined in
the Credit Agreement.

[Remainder of this page intentionally left blank]

*      *      *

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the date first above written.

	 	 	 	 	 	 	 
	 	 	IMATION CORP., as a Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Paul R. Zeller
 

	 	 
	 
	 
	 	Name:	 	Paul R. Zeller	 	 
	 
	 

	 	Title:
	 	Vice President & CFO	 	 
	 
	 	 	 	 	 	 
	 	 	IMATION ENTERPRISES CORP., as a	 	 
	 	 	Borrower	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Paul R. Zeller
 

	 	 
	 
	 
	 	Name:	 	Paul R. Zeller	 	 
	 
	 

	 	Title:
	 	Vice President & CFO	 	 

Signature Page 1 to Second Amendment to Credit Agreement

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA,
N.A., as Administrative	 	 
	 	 	Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Matthew C. Correia	 	 
	 
	 
	 	Name:	 	Matthew C. Correia	 	 
	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	BANK OF AMERICA,
N.A., as L/C Issuer and as	 	 
	 	 	a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Debra E. Delvecchio	 	 
	 
	 
	 	Name:	 	Debra E. Delvecchio	 	 
	 
	 
	 	Title:	 	Managing Director	 	 

Signature Page 2 to Second Amendment to Credit Agreement

 

 

	 	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A., as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Krys Szremski	 	 
	 
	 	 	 	 	 	 
	 
	 	Name:	 	Krys Szremski	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

Signature Page 3 to Second Amendment to Credit Agreement

 

 

	 	 	 	 	 	 	 
	 	 	THE BANK OF TOKYO-MITSUBISHI UFJ,	 	 
	 	 	LTD., as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Victor Pierzchalski
 

Victor Pierzchalski
	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 

Signature Page 4 to Second Amendment to Credit Agreement

 

 

	 	 	 	 	 	 	 
	 	 	US BANK NATIONAL ASSOCIATION, as a	 	 
	 	 	Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Christine Dean
 

	 	 
	 
	 	 	 	 	 	 
	 
	 	Name:	 	Christine Dean	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

Signature Page 5 to Second Amendment to Credit Agreement

 

 

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL	 	 
	 	 	ASSOCIATION, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Brian Buck
 
	 	 
	 
	 	 	 	 	 	 
	 
	 	Name:	 	Brian Buck	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

Signature Page 6 to Second Amendment to Credit Agreement

 

 

	 	 	 	 	 	 	 
	 	 	CITIBANK, N.A., as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Ross Levitsky
 
	 	 
	 
	 	 	 	 	 	 
	 
	 	Name:	 	Ross Levitsky	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:
	 	Vice President	 	 

Signature Page 7 to Second Amendment to Credit Agreement

 

 

	 	 	 	 	 	 	 
	 	 	FIFTH THIRD BANK, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

Signature Page 8 to Second Amendment to Credit Agreement

 

 

EXHIBIT A

to Second Amendment to Credit Agreement

GUARANTORS’ CONSENT

     Each of the undersigned, in its capacity as a Guarantor, acknowledges that its consent to the
foregoing Amendment is not required, but each of the undersigned nevertheless does hereby consent
to the foregoing Amendment (together with all prior amendments) and to the documents and agreements
referred to therein. Nothing herein shall in any way limit any of the terms or provisions of the
Guaranty of the undersigned or the Collateral Documents executed by the undersigned in the
Administrative Agent’s and the Lenders’ favor, or any other Loan Document executed by the
undersigned (as the same may be amended from time to time), all of which are hereby ratified and
affirmed in all respects.

	 	 	 	 	 	 	 
	 	 	IMATION FUNDING CORP., as a Guarantor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	IMATION LATIN AMERICA CORP., as a	 	 
	 	 	Guarantor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	MEMOREX PRODUCTS, INC., as a Guarantor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

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EXHIBIT B

to Second Amendment to Credit Agreement

SCHEDULE 5.06

LITIGATION

     Imation filed a Declaratory Judgment Action on October 27, 2006, in Federal District Court in
St. Paul, Minnesota requesting that the court resolve an ongoing dispute with Philips Electronics
N.V., U.S. Philips Corporation and North American Philips Corporation (collectively, Philips).
Philips has asserted that (1) the patent cross-license between 3M Company and Philips was not
validly assigned to Imation in connection with the spin-off of Imation from 3M Company in 1996; (2)
Imation’s 51 percent owned subsidiary GDM is not a “subsidiary” as defined in the cross-license;
(3) the coverage of the cross-license does not apply to Imation’s acquisition of Memorex; (4) the
cross-license does not apply to DVD discs;
(5) certain Philips patents that are not covered by the cross-license are infringed by Imation; and

(6) as a result, Imation owes Philips royalties for the prior and future sales of CD and DVD discs.
We believe that these allegations are without merit and filed a Declaratory Judgment Action to have
a court reaffirm Imation’s rights under the cross-license. On February 26, 2007, the parties signed
a Standstill Agreement and the litigation was voluntarily dismissed without prejudice.Imation and
Philips held settlement negotiations but were unable to come to an agreement. Imation re-filed its
Declaratory Judgment Action on August 10, 2007. Philips filed its Answer and Counterclaims against
Imation and MBI (Imation’s partner in GDM). Philips alleges that (1) the cross-license does not
apply to companies that Imation purchased or created after March 1, 2000; (2) GDM is not a
legitimate subsidiary of Imation; (3) Imation’s formation of GDM is a breach of the cross-license
resulting in termination of the cross-license at that time; (4) Imation (including Memorex and GDM)
infringes various patents that would otherwise be licensed under the cross-license; and (5) Imation
(including Memorex and GDM) infringe one or more patents that are not covered by the cross-license.
Philips claims damages of $655 million plus interest and costs, as well as a claim requesting a
trebling of that amount. Imation was aware of these claims prior to filing its Declaratory Judgment
Action. Imation believed then and continues to believe that Philips’ claims are without merit.
Philips recently amended its Answer and Counterclaims, adding detail on its patent claims regarding
DVDs and deleting all references to the specific damage claim of $655 million.

     On October 30, 2007, Imation filed its answers to Philips’ counterclaims and a Motion for
Partial Summary Judgment on the issue of whether the patent cross-license was validly assigned by
3M Company to Imation. Philips did not contest Imation’s Motion and on November 26, 2007, the
parties filed a stipulation affirming that the cross-license was validly assigned to Imation.
Discovery is ongoing and all remaining issues continue to be in dispute. The court has currently
scheduled trial of the matter for mid-2009.

1

 

EXHIBIT C

to Second Amendment to Credit Agreement

SCHEDULE 5.13

Part (a). Subsidiaries

	 	 	 	 	 	 	 	 
	 	 	County or State in	 	 
	 	 	Which Subsidiary	 	Percentage of
	 	 	Was Organized	 	Ownership
	Imation Mercosur Trading S.A.
	 	 	Uruguay	 	 	100	 
	Imation Funding Corp.
	 	 	Delaware	 	 	100	 
	Imation Data Storage LLC
	 	 	Delaware	 	 	100	 
	Imation Data Storage Holdings CV
	 	 	Netherlands	 	 	100	 
	Imation Latin America Corp.
	 	 	Delaware	 	 	100	 
	Imation Latin America Marketing S.A.
	 	 	Panama	 	 	100	 
	Imation do Brasil Ltda.
	 	 	Brazil	 	 	100	 
	Imation Chile S.A.
	 	 	Chile	 	 	100	 
	Imation Mexico S.A. de C.V.
	 	 	Mexico	 	 	100	 
	Imation Argentina S A C I F.I.A.
	 	 	Argentina	 	 	100	 
	Imation Colombia S.A.
	 	 	Colombia	 	 	100	 
	Imation Venezuela S.A.
	 	 	Venezuela	 	 	100	 
	Imation Canada Inc.
	 	 	Canada	 	 	100	 
	Imation (Thailand) Ltd.
	 	 	Thailand	 	 	100	 
	Imation Holdings Pte Ltd.
	 	 	Singapore	 	100
	Imation Asia Pacific Pte Ltd.
	 	 	Singapore	 	 	100	 
	Imation ANZ Pty Ltd.
	 	 	Australia	 	 	100	 
	Imation (Shanghai) Co. Ltd.
	 	 	China	 	 	100	 
	Imation (Guangzhou) International
Co. Ltd.
	 	 	China	 	 	100	 
	Imation (Tianjin) International
Co. Ltd.
	 	 	China	 	 	100	 
	Imation Information Technology
(Beijing) Ltd.
	 	 	China	 	 	100	 
	Imation Hong Kong Ltd.
	 	 	Hong Kong	 	 	100	 
	Imation Recording Media (Hong
Kong) Co. Ltd.
	 	 	Hong Kong	 	 	100	 
	Imation India Private Ltd.
	 	 	India	 	 	100	 
	Imation Corporation Japan
	 	 	Japan	 	 	60   	 *
	Imation Corporation Japan TMK
	 	 	Japan	 	 	100	 
	Imation Korea, Inc.
	 	 	Korea	 	 	100	 
	Imation (Malaysia) SDN.BHD.
	 	 	Malaysia	 	 	100	 
	Imation Singapore Pte. Ltd.
	 	 	Singapore	 	 	100	 
	Imation Taiwan Ltd.
	 	 	Taiwan	 	 	100	 
	Memorex Products (Taiwan) Inc.
	 	 	Taiwan	 	 	100	 
	Imation Europe B.V.
	 	 	Netherlands	 	 	100	 
	Imation France S.A.
	 	 	France	 	 	100	 
	Imation Deutschland GmbH
	 	 	Germany	 	 	100	 
	Imation S.p.A.
	 	 	Italy	 	 	100	 
	Imation Iberia, S.A.
	 	 	Spain	 	 	100	 
	Imation Middle East FZE
	 	 	United Arab Emirates	 	 	100	 
	Imation U.K. Limited
	 	 	United Kingdom	 	 	100	 
	TDK Marketing Europe GmbH
	 	 	Germany	 	 	100	 
	TDK Polska SP Zoo
	 	 	Poland	 	 	100	 
	Imation Ireland Ltd.
	 	 	Ireland	 	 	100	 
	Global Data Media FZ-LLC
	 	 	United Arab Emirates	 	 	51    	 *
	Glyphics Media Inc.
	 	 	New York	 	 	51    	 *
	MB1 International FZ-LLC
	 	 	United Arab Emirates	 	 	51    	 *
	MBI International Services
Private Ltd.
	 	 	India	 	 	51    	 *
	MBII India Marketing Private Ltd.
	 	 	India	 	 	51    	 *
	Memorex Products Inc.
	 	 	California	 	 	100	 
	Memorex Products Europe Ltd.
	 	 	United Kingdom	 	 	100	 

1

 

	 	 	 	 	 	 	 
	 	 	County or State in	 	 
	 	 	Which Subsidiary	 	Percentage of
	 	 	Was Organized	 	Ownership
	Memorex Products GmbH
	 	Germany	 	 	100	 
	Memorex Products SAS
	 	France	 	 	100	 
	Hanny Magnetics Europe Limited
	 	United Kingdom	 	 	100	 
	Imation Online Service Corp.
	 	New York	 	 	100	 

 

			
	*	 	Imation Corporation Japan and Global Data Media FZ-LLC and its subsidiaries are joint ventures.

Part (b).     Other Equity Investments

	 	 	 	 	 
	 	 	County or State in	 	 
	 	 	Which Company	 	Percentage of
	 	 	Is Organized	 	Ownership
	O-Mass (Subsiidiary of Tandberg Storage)
	 	Norway         	 	<10.0
	InPhase
	 	United States	 	<10.0
	Exabyte
	 	United States	 	   11.1

2

 

EXHIBIT D

to Second Amendment to Credit Agreement

SCHEDULE 5.17

INTELLECTUAL PROPERTY MATTERS

See Schedule 5.06.

1exv10w1

 

Exhibit 10.1

EXECUTIVE EMPLOYMENT AGREEMENT

     This EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is executed as of March 31, 2008
between Belden Inc., a Delaware corporation (the “Company”), and Steven Biegacki (the “Executive”).

W
I T N E S S E
T H:

     WHEREAS, the Company desires to employ Executive as its Vice President, Global Sales and
Marketing; and

     WHEREAS, the Company and Executive desire to enter into this Agreement to set forth the terms
of Executive’s employment by the Company;

     NOW THEREFORE, in consideration of the foregoing, of the mutual promises contained herein and
of other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

     1. POSITION/DUTIES.
Executive shall serve as the Vice President, Global Sales and Marketing of
the Company. Executive shall use Executive’s best efforts to
perform faithfully and efficiently the
duties and responsibilities assigned to Executive hereunder and devote substantially all of
Executive’s business time to the performance of Executive’s
duties with the Company; provided, the
foregoing shall not prevent Executive from participating in charitable, civic, educational,
professional or community affairs so long as such activities do not materially interfere with the
performance of Executive’s duties hereunder or create a
potential business conflict or the
appearance thereof.

     2. TERM
OF AGREEMENT. This Agreement shall be effective on the date hereof (the “Effective
Date”) and shall end on the third anniversary of the
Effective Date. The term of this Agreement
shall be automatically extended thereafter for successive one
(1) year periods unless, at least
ninety (90) days prior to the end of the initial term of this
Agreement or the then current
succeeding one-year extended term of this Agreement, the Company or Executive has notified the other
that the term hereunder shall terminate upon its expiration date. The initial term of this
Agreement, as it may be extended from year to year thereafter, is
herein referred to as the “Term.”
The foregoing to the contrary notwithstanding, upon the occurrence of a Change in Control (defined
below) at any time after the first anniversary of the Effective Date, the Term of this Agreement
shall be extended to the second anniversary of the date of the occurrence of such Change in Control
and shall be subject to expiration thereafter upon notice by Executive or the Company to the other
party or to automatic successive additional one-year periods, as the case may be, in the manner
provided above. If Executive remains employed by the Company beyond the expiration of the Term, he
shall be an employee at-will; except that any provisions identified as surviving shall continue. In
all events hereunder, Executive’s employment is subject to earlier termination pursuant to Section 7
hereof, and upon such earlier termination the Term shall be deemed to have ended.

     3. BASE SALARY. As of the Effective Date, the Company shall pay Executive
a base salary (the “Base Salary”) at an annual rate of $280,000,
payable in accordance with the regular payroll
practices of the Company. Executive’s Base Salary shall be subject to annual

 

 

review by the Company’s Chief Executive Officer (“CEO”) and may be increased from time to time by
the CEO (as approved by the Compensation Committee of the Board of Directors of the Company). The
base salary as determined herein from time to time shall constitute “Base Salary” for purposes of
this Agreement.

     4. ANNUAL
CASH INCENTIVE. As of the Effective Date, Executive shall be eligible to participate
in the Company’s management cash incentive plan and any successor
annual cash plans. Executive shall
have the opportunity to earn an annual target cash incentive,measured against performance criteria
to be determined by the Company’s Board (or a committee thereof).

     5. EQUITY AWARDS.

          (a) BUY-OUT AWARDS.

               (i) The Board or the Compensation Committee (the “Committee”) shall, in
accordance with the Company’s standard RSU award form, award Executive as of the Effective
Date, restricted stock units (the “Buy-Out RSUs”) equal to the quotient of (A) $290,000
divided by (B) the closing price of Belden stock on the Effective Date. The Buy-Out RSUs
shall vest equally in three years, provided that Executive has been continuously employed by
the Company through such date for the Buy-Out RSUs to so vest, except as otherwise provided
in the award agreement.

          (b) 2008 AWARDS

               (i) The Board or the Committee shall award Executive as of the Effective Date
such number of performance share units (the “2008 PSUs”) as equals the quotient of (A)
$168,000 divided by (B) the closing price of one share of Belden stock on the Effective Date,
in accordance with the Company’s standard PSU award form. Each PSU represents the right to
receive between zero and one and one-half (1.5) restricted stock units, depending on
attainment of Company performance objectives during calendar year 2008. Each such restricted
stock unit represents the right to receive one share of Belden stock, and shall vest equally
over two years, except as otherwise provided in the award agreement.

               (ii) The Board or the Committee shall, in accordance with the Company’s standard
SAR award form, award Executive as of the Effective Date, such number of stock appreciation
rights settled in shares of the Company’s Common Stock (the “2008 SARs”) as equal to the
quotient of (A) $168,000 divided by (B) the Black-Scholes value (or other valuation method)
of one (1) share of Belden stock on the Effective Date as determined by the Committee or the
Board for the valuation of SAR grants to other senior executives during the 2008 fiscal year.
The 2008 SARs will be granted with an exercise price equal to the closing price of Belden
stock on the Effective Date. The 2008 SARs shall vest and become exercisable in three (3)
equal installments on the first, second and third anniversaries of the Effective Date,
provided that the Executive has been continuously employed by the Company through each such
vesting date for such installment to so vest, except as otherwise provided in the award
agreement.

2

 

          (c) LONG-TERM INCENTIVE AWARDS.

               (i) Commencing with annual awards granted to senior executives in 2009, Executive
shall be eligible for annual long-term incentive awards throughout the Term under such
long-term incentive plans and programs as may be in effect from time to time in accordance
with the Company’s compensation practices and the terms and provisions of any such plans or
programs; provided, that Executive’s participation in such plans and programs shall be at a
level and on terms and conditions consistent with participation by other senior executives of
the Company, as the Board or the Committee shall determine in its sole discretion, with due
consideration of Executive’s position, awards granted to other senior executives of the
Company and competitive compensation data. However, provided that Executive is employed by
the Company on the date of grant, Executive shall be granted an annual long-term incentive
equity award during the 2009 fiscal year having a value on the grant date of not less than
120% of Base Salary.

               (ii) All long-term incentive awards to Executive shall be granted pursuant to
and shall be subject to all of the terms and conditions imposed upon such awards granted
under the Plan.

          (d) STOCK
OWNERSHIP. Executive shall be subject to, and shall comply with, the stock ownership
guidelines of the Company as may be in effect from time to time. Executive shall have five (5) years
to satisfy the stock ownership guidelines applicable to Executive. As of the Effective Date, the
Executive’s annual interim target for share accumulation is 20% after the first year, 40% after the
second year, 60% after the third year, and 80% after the fourth year.

     6. EMPLOYEE BENEFITS. As of the Effective Date:

          (a) BENEFIT
PLANS. Executive shall be entitled to participate in all employee benefit plans of
the Company including, but not limited to, relocation policy, equity,pension, thrift, profit
sharing, medical coverage, education, or other retirement or welfare benefits that the Company has
adopted or may adopt, maintain or contribute to for the benefit of its senior executives in
accordance with the terms of such plans and programs.

          (b) VACATION.
Executive shall be entitled to annual paid vacation in accordance with the
Company’s policy applicable to senior executives.

          (c) BUSINESS
AND ENTERTAINMENT EXPENSES. Upon presentation of appropriate documentation,
Executive shall be reimbursed in accordance with the Company’s expense reimbursement policy for all
reasonable and necessary business expenses incurred in connection with the performance of
Executive’s duties hereunder.

          (d) CERTAIN
AMENDMENTS. Nothing herein shall be construed to prevent the Company from amending,
altering, terminating or reducing any plans, benefits or programs.

     7. TERMINATION.
Executive’s employment and the Term shall terminate on the first of the
following to occur:

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          (a) DISABILITY.
Upon written notice by the Company to Executive of termination due to
Disability, while Executive remains Disabled. For purposes of this Agreement, “Disability” shall
have the meaning defined under the Company’s then-current long-term disability insurance plan in
which Executive participates.

          (b) DEATH. Automatically on the date of death of Executive.

          (c) CAUSE.
Immediately upon written notice by the Company to Executive of a termination of
Executive’s employment for Cause. “Cause” shall mean:

               (i) Executive’s willful and continued failure to perform substantially his duties
owed to the Company or its affiliates after a written demand for substantial performance is
delivered to him specifically identifying the nature of such unacceptable performance, which
is not cured by Executive within a reasonable period, not to exceed thirty (30) days;

               (ii) Executive is convicted of (or pleads guilty or no contest to) a felony or any
crime involving moral turpitude; or

               (iii) Executive has engaged in conduct that constitutes gross misconduct in the
performance of his employment duties.

An act or omission by Executive shall not be “willful” if conducted in good faith and
with Executive’s reasonable belief that such conduct is in the best interests of the
Company.

          (d) WITHOUT
CAUSE. Upon written notice by the Company to Executive of an involuntary
termination of Executive’s employment other than for Cause (and
other than due to his Disability)

          (e) GOOD
REASON. Upon written notice by Executive to the Company of a voluntary termination of
Executive’s employment at any time during a Protection Period(defined in Section 10 below), for
Good Reason. “Good Reason” shall mean, without the express written consent of Executive, the
occurrence of any of the following events during a Protection Period:

               (i) Executive’s Base Salary or annual target cash incentive opportunity is
reduced;

               (ii) Executive’s duties or responsibilities are negatively and materially changed
in a manner inconsistent with Executive’s position (including status, offices, titles, and
reporting responsibilities) or authority; or

               (iii) The Company requires Executive’s principal office to be relocated more than
50 miles from its location as of the date immediately preceding the Change in Control.

4

 

     Prior to any termination by Executive for “Good Reason,” he shall provide the Board not less
than thirty (30) nor more than ninety (90) days’ notice, with specificity, of the grounds
constituting Good Reason and an opportunity within such notice period for the Company to cure such
grounds. The notice shall be given within ninety (90) days following the initial existence of
grounds constituting Good Reason for such notice and subsequent termination, if not so cured above,
to be effective.

          (f) VOLUNTARY TERMINATION FOR ANY REASON (WITHOUT GOOD REASON DURING A PROTECTION
PERIOD). Upon at least thirty (30) days’ prior written notice by Executive to the Company of
Executive’s voluntary termination of employment (i) for any reason prior to or after a Protection
Period or (ii) without Good Reason during a Protection Period, in either case which the Company
may, in its sole discretion, make effective earlier than any termination date set forth in such
notice.

     8. CONSEQUENCES OF TERMINATION. Any termination payments made and benefits provided
under this Agreement to Executive shall be in lieu of any termination or severance payments or
benefits for which Executive may be eligible under any of the plans, policies or programs of the
Company or its affiliates, it being understood that any Long-Term Awards (as defined in Section 11
hereof) shall be treated as addressed in Section 11 hereof. Upon termination of Executive’s
employment, the following amounts and benefits shall be due to Executive:

          (a) DEATH;
DISABILITY. If Executive’s employment terminates due to Executive’s death
or Disability, then the Company shall pay or provide Executive (or the legal representative of his
estate in the case of his death) with:

               (i) (A) any accrued and unpaid Base Salary through the date of termination and
any accrued and unused vacation in accordance with Company policy; and (B) reimbursement for
any unreimbursed expenses, incurred and documented in accordance with applicable Company
policy, through the date of termination (collectively, “Accrued Obligations”);

               (ii) Any unpaid cash incentive award earned with respect to any fiscal year ending
on or preceding the date of termination, payable when annual cash incentives are paid
generally to senior executives for such year;

               (iii) A pro-rated annual cash incentive award for the fiscal year in which such
termination occurs, the amount of which shall be based on actual performance under the
applicable annual cash incentive plan and a fraction, the numerator of which is the number of
days elapsed during the performance year through the date of termination and the denominator
of which is 365, which pro-rated cash incentive award shall be paid when awards are paid
generally to senior executives for such year;

               (iv) Any disability insurance benefits, or life insurance proceeds, as the case may
be, as may be provided under the Company plans in which Executive participates immediately
prior to such termination; and

5

 

          (b) VOLUNTARY
TERMINATION (INCLUDING VOLUNTARY TERMINATION WITHOUT GOOD REASON DURING A
PROTECTION PERIOD);INVOLUNTARY TERMINATION WITHOUT CAUSE AT OR AFTER AGE 65;INVOLUNTARY
TERMINATION FOR CAUSE.

               (i) If Executive’s employment should be terminated (i) by Executive for any
reason at any time other than during a Protection Period, or (ii) by Executive without Good
Reason during a Protection Period, then the Company shall pay to Executive any Accrued
Obligations in accordance with Section 8(a)(i).

               (ii) If Executive’s employment is terminated by the Company without Cause and
other than for Disability at or after Executives’ attainment of age 65, the Company shall pay
to Executive any Accrued Obligations.

               (iii) If Executive’s employment is terminated by the Company for Cause, the
Company shall pay to Executive any Accrued Obligations.

          (c) TERMINATION
WITHOUT CAUSE. If at any time (A) prior to Executive’s attainment of age 65 and
(B) other than during a Protection Period, Executive’s employment by the Company is terminated by
the Company without Cause (and other than a termination for Disability), then the Company shall pay
or provide Executive with:

               (i) (A) Executive’s Accrued Obligations, payable in accordance with Section
8(a)(i);

               (ii) Any unpaid annual cash incentive earned with respect to any fiscal year
ending on or preceding the date of termination, payable when such incentives are paid
generally to senior executives for such year;

               (iii) A pro-rated annual cash incentive for the fiscal year in which such
termination occurs, the amount of which shall be based on actual performance under the
applicable annual cash incentive plan and a fraction, the numerator of which is the number of
days elapsed during the performance year through the date of termination and the denominator
of which is 365, which pro-rated annual cash incentive award shall be paid when awards are
paid generally to senior executives for such year;

               (iv) Severance payments in the aggregate amount equal to the sum of (A) Executive’s
then Base Salary plus (B) his annual target cash incentive, which amount shall be payable to
Executive in equal payroll installments over a period of twelve (12) months;

               For purposed of this subparagraph (iv) each installment severance payment to Executive
under this subparagraph (iv) shall be treated as a separate payment (within the meaning of
Section 409A).

               Provided, anything herein to the contrary notwithstanding, if on the date of
termination, Executive is a “specified employee” of the Company (as defined in Treasury
Regulation Section 1.409A-l(i)), to the extent that such severance payments (and any

6

 

other payments and benefits provided in Section 8) constitute a “deferral of compensation” under a
“nonqualified deferred compensation plan” under Section 409A and Treasury Regulation Section
1.409A-1, the following provisions shall apply (“Safe Harbor and Postponement”):

               (1)
If such payments and benefits are payable on account of Executive’s “involuntary
separation from service” (as defined in Treasury Regulation Section 1.409A-l(n)), Executive
shall receive such amount of his severance payments during the six (6)-month period
immediately following the date of termination as equals the lesser of: (x) such severance
payment amount due Executive under Section 8 during such six (6)-month period or (y) two
(2)multiplied by the compensation limit in effect under Section 401(a)(17) of the Code,
for the calendar year in which the date of termination occurs and as otherwise provided
under Treasury Regulation Section 1.409A-l(b)(9)(iii) and shall be entitled to such of his
benefits as satisfy the exception under Treasury Regulation Section 1.409A-l(b)(9)(v)
(“Limitation Amount”).

               (2) To the extent that, upon such “involuntary separation from service,” the amount
of payments and benefits that would have been payable to Executive under Section 8 during
the six (6)-month period following the last day of his employment exceeds the Limitation
Amount, such excess shall be paid on the first regular payroll date following the
expiration of such six (6)-month period.

               (3) If the Company reasonably determines that such
employment termination is not such an “involuntary separation from service,” all such
payments and benefits that would have been payable to the Executive under Section 8 during
the six (6)-month period immediately following the date of termination, but for such
determination, shall be paid on the first regular payroll date immediately following the
expiration of such six (6)-month period following the date of termination.

               (4) Any payments under this Section 8(c) that are postponed pursuant to the Safe
Harbor and Postponement shall accrue interest at an annual rate (compounded monthly) equal
to the short-term applicable federal rate (as in effect under Section 1274(d) of the Code
on the last day of the Executive’s employment) plus 100 basis points, which interest shall
be paid on the first regular payroll date immediately following the expiration of the six
(6)-month period following the date of termination.

               (v) Subject to Executive’s continued co-payment of premiums, continued participation for
twelve (12) months in the Company’s medical benefits plan which covers Executive and his eligible
dependents upon the same terms and conditions (except for the requirements of Executive’s continued
employment) in effect for active employees of the Company. In the event Executive obtains other
employment that offers substantially similar or more favorable medical benefits, such continuation
of coverage by the Company under this subsection shall immediately cease. The continuation of
health

7

 

benefits under this subsection shall reduce the period of coverage and count against
Executive’s right to healthcare continuation benefits under COBRA.

     9. CONDITIONS. Any payments or benefits made or provided to Executive pursuant to any
subsection of Section 8, other than Accrued Obligations, are
subject to Executive’s:

          (a) compliance with the provisions of Section 12 hereof;

          (b) delivery to the Company of an executed Agreement and General Release(the “General
Release”), which shall be substantially in the form attached hereto as Exhibit A within
twenty-one (21) days after presentation thereof by the Company to Executive; and

          (c) delivery to the Company of a resignation from all offices, directorships and fiduciary
positions held by Executive with the Company, its affiliates and employee benefit plans.

Notwithstanding the due date of any post-employment payments, any amounts due following a
termination under this Agreement (other than Accrued Obligations) shall not be payable until after
the expiration of any statutory revocation period applicable to the General Release without
Executive having revoked such General Release, and, subject to the provisions of Section 21 hereof,
any such amounts shall be paid to Executive within thirty (30) days thereafter. Notwithstanding the
foregoing, Executive shall be entitled to any Accrued Obligations, payable without regard for the
conditions of this Section 9.

     10. CHANGE
IN CONTROL; EXCISE TAX.

          (a) CHANGE IN CONTROL. A “Change in Control” of the Company shall be deemed to have
occurred if any of the events set forth in any one of the following subparagraphs shall occur:

               (i) The acquisition by any individual, entity or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of more than 50% of either
(i) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (ii) the
combined voting power of the then-outstanding voting securities of the Company entitled to
vote generally in the election of directors (the “Outstanding Company Voting Securities”);
provided, however, that for purposes of this subsection (a), the following acquisitions shall
not constitute a Change of Control: (1) any acquisition directly from the Company, (2) any
acquisition by the Company, (3) any acquisition by any employee benefit plan (or related
trust) sponsored or maintained by the Company or any corporation controlled by the Company,
or (4) any acquisition by any corporation pursuant to a transaction which complies with
clauses (1) and (2) of subsection (iii) of this definition;

               (ii) individuals who, as of the date hereof, constitute the Board (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board;

8

 

provided, however, that any individual becoming a director subsequent to the date hereof
whose election, or nomination for election by the Company’s shareholders, was approved by a
vote of at least a majority of the directors then comprising the Incumbent Board shall be
considered as though such individual were a member of the Incumbent Board;

               (iii) consummation of a reorganization, merger or consolidation or sale or other
disposition of all or substantially all of the assets of the Company (a “Business
Combination”), in each case, unless, following such Business Combination, (1) all or
substantially all of the individuals and entities who were the beneficial owners,
respectively, of the Outstanding Company Common Stock and Outstanding Company Voting
Securities immediately prior to such Business Combination beneficially own, directly or
indirectly, more than 50% of, respectively, the then-outstanding shares of common stock and
the combined voting power of the then outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation resulting from
such Business Combination (including, without limitation, a corporation which as a result of
such transaction owns the Company or all or substantially all of the Company’s assets either
directly or through one or more subsidiaries) and in substantially the same proportions as
their ownership, immediately prior to such Business Combination of the Outstanding Company
Common Stock and Outstanding Company Voting Securities, as the case may be, and (2) at least
a majority of the members of the board of directors of the corporation resulting from such
Business Combination were members of the Incumbent Board at the time of the execution of the
initial agreement, or of the action of the Board, providing for such Business Combination; or

               (iv) approval by the shareholders of the Company of a complete liquidation or
dissolution of the Company.

          (b) QUALIFYING TERMINATION. If, prior to Executive’s attainment of age 65, Executive’s
employment is involuntarily terminated by the Company without Cause (and other than due to his
Disability) or is voluntarily terminated by Executive for Good Reason, in either case only during
the period commencing on the occurrence of a Change in Control of the Company and ending on the
second anniversary of date of the Change in Control (“Protection Period”), then the Company shall
pay or provide Executive with:

               (i) Executive’s Accrued Obligations, payable in accordance with Section
8(a)(i);

               (ii) Any unpaid annual cash incentive award earned with respect to any fiscal year
ending on or preceding the date of termination, payable when awards are paid generally to
senior executives for such year;

               (iii) A pro-rated annual cash incentive for the fiscal year in which such
termination occurs, the amount of which shall be based on target performance and a fraction,
the numerator of which is the number of days elapsed during the performance year through the
date of termination and the denominator of which is 365, which pro-rated annual cash
incentive award shall be paid when awards are paid generally to senior executives for such
year;

9

 

               (iv) A lump sum severance payment in the aggregate amount equal to the product of (A) the
sum of (1) Executive’s highest Base Salary during the Protection Period plus (2) his annual target
annual cash incentive award multiplied by (B) two (2); provided, unless the Change of Control
occurring on or preceding such termination also constitutes a 409A Change in Control, the amount
payable to Executive under this subparagraph (iv) shall be paid to Executive in equal payroll
installments over a period of twenty-four (24) months, not in a lump sum, to the extent necessary
to avoid the application of Section 409A(a)(l)(A) and (B);

               (v) Subject to Executive’s continued co-payment of premiums, continued participation for
two (2) years in the Company’s medical benefits plan which covers Executive and his eligible
dependents upon the same terms and conditions (except for the requirements of Executive’s continued
employment) in effect for active employees of the Company. In the event Executive obtains other
employment that offers substantially similar or more favorable medical benefits, such continuation
of coverage by the Company under this subsection shall immediately cease. The continuation of
health benefits under this subsection shall reduce the period of coverage and count against
Executive’s right to healthcare continuation benefits under COBRA; and

               (vi) Payments falling under Section 8(c)iv shall be paid in a lump sum within ten (10)
business days after the Executive’s receipt of the calculation from a specified advisor.

               Provided, to the extent applicable under Section 409A as a “deferral of compensation,” and
not as a “short-term deferral” under Treasury Regulation Section 1.409A-l(b)(4), the payments and
benefits payable to Executive under this Section 10(c) shall be subject to the Safe Harbor and
Postponement provided at Section 8(c)(iv).

          (c) EXCISE TAX.

               (i) If it is determined that any amount, right or benefit paid or payable (or otherwise
provided or to be provided) to the Executive by the Company or any of its affiliates under this
Agreement or any other plan, program or arrangement under which Executive participates or is a
party, other than amounts payable under this Section 10(d), (collectively, the “Payments”), would
constitute an “excess parachute payment” within the meaning of Section 280G of the Internal Revenue
Code of 1986, as amended (“Code”), subject to the excise tax imposed by Section 4999 of the Code,
as amended from time to time (the “Excise Tax”), and the present value of such Payments (calculated
in a manner consistent with that set forth in the applicable regulations promulgated under Section
280G of the Code) is equal to or less than 110% of the threshold at which such amount becomes an
“excess parachute payment,” then the amount of the Payments payable to the Executive under this
Agreement shall be reduced (a “Reduction”) to the extent necessary so that no portion of such
Payments payable to the Executive is subject to the Excise Tax.

               (ii) In the event it shall be determined that the amount of the Payments payable to the
Executive is more than 110% greater than the threshold at which such

10

 

amount becomes an “excess parachute payment,” then the Executive shall be entitled to receive
an additional payment from the Company (a “Gross-Up Payment”) in an amount such that, after
payment by the Executive of all taxes (including any interest or penalties imposed with
respect to such taxes), including, without limitation, any income and employment taxes and
Excise Tax imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up
Payment equal to the Excise Tax imposed upon the Payments.

               (iii) All determinations required to be made under this Section 10(d), including
whether and when a Gross-Up Payment or a Reduction is required, the amount of such Gross-Up
Payment or Reduction and the assumptions to be utilized in arriving at such determination,
shall be made by an independent, nationally recognized accounting firm mutually acceptable to
the Company and the Executive (the “Auditor”); provided that in the event a Reduction is
determined to be required, the Executive may determine which Payments shall be reduced in
order to comply with the provisions of this Section 10(d). The Auditor shall promptly provide
detailed supporting calculations to both the Company and Executive following any
determination that a Reduction or Gross-Up Payment is necessary. All fees and expenses of the
Auditor shall be paid by the Company, Any Gross-Up Payment, as determined pursuant to this
Section 10(d), shall be paid by the Company to the Executive within five (5) days of the
receipt of the Auditor’s determination. All determinations made by the Auditor shall be
binding upon the Company and the Executive; provided that if, notwithstanding the Auditor’s
initial determination, the Internal Revenue Service (or other applicable taxing authority)
determines that an additional Excise Tax is due with respect to the Payments, then the
Auditor shall recalculate the amount of the Gross-Up Payment or Reduction Amount, if
applicable, based upon the determinations made by the Internal Revenue Service (or other
applicable taxing authority) after taking into account any additional interest and penalties
(the “Recalculated Amount”) and the Company shall pay to the Executive the excess of the
Recalculated Amount over the Gross-Up Payment initially paid to the Executive or the amount
of the Payments after the Reduction, as applicable, within five (5) days of the receipt of
the Auditor’s recalculation the Gross-Up Payment.

               (iv) Without limiting any earlier payment provided under this Section 10(d), the
Gross-Up Payment (or Gross-Up Payments, if applicable) payable to Executive under this
Section 10(d) shall be paid to him not later than the last day of Executive’s taxable year
following the taxable year in which Executive remits the taxes owed by him that result in the
obligation of the Company to pay him such Gross-Up Payment.

     11. LONG-TERM AWARDS. All of Executive’s stock options, stock appreciation rights,
restricted stock units, performance share units and any other long-term incentive awards granted
under any long-term incentive plan of the Company, whether granted before or after the Effective
Date (collectively “Long-Term Awards”), shall remain in effect in accordance with their terms and
conditions, including with respect to the consequences of the termination of Executive’s employment
or a change in control, and shall not be in any way amended, modified or affected by this
Agreement.

11

 

     12. EXECUTIVE COVENANTS.

          (a) CONFIDENTIALITY. Executive agrees that Executive shall not, commencing on the date hereof
and at all times thereafter, directly or indirectly, use, make available, sell, disclose or
otherwise communicate to any person, other than in the course of Executive’s employment and for the
benefit of the Company, any nonpublic, proprietary or confidential information, knowledge or data
relating to the Company, any of its subsidiaries, affiliated companies or businesses, which shall
have been obtained by Executive during Executive’s employment by the Company. The foregoing shall
not apply to information that (i)was known to the public prior to its disclosure to Executive; (ii)
becomes known to the public subsequent to disclosure to Executive through no wrongful act of
Executive or any representative of Executive; or (iii) Executive is required to disclose by
applicable law, regulation or legal process (provided that Executive provides the Company with
prior notice of the contemplated disclosure and reasonably cooperates with the Company at its
expense in seeking a protective order or other appropriate protection of such information).
Notwithstanding clauses (i) and (ii)of the preceding sentence, Executive’s obligation to maintain
such disclosed information in confidence shall not terminate where only portions of the information
are in the public domain.

          (b) NONSOLICITATION. Commencing on the date hereof, and continuing during Executive’s
employment with the Company and for the twelve (12) month period following termination of
Executive’s employment for any reason (a twenty-four (24) month post-employment period in the event
of a termination of Executive’s employment for any reason at any time during a Protection Period)
(“Restricted Period”), Executive agrees that Executive shall not, without the prior written consent
of the Company, directly or indirectly, individually or on behalf of any other person, firm,
corporation or other entity: (i) solicit, recruit or employ(whether as an employee, officer,
director, agent, consultant or independent contractor) any person who was or is at any time during
the six (6) months preceding Executive’s termination of employment an employee, representative,
officer or director of the Company; (ii) take any action to encourage or induce any employee,
representative, officer or director of the Company to cease their relationship with the Company for
any reason; or (iii) knowingly solicit, aid or induce any customer of the Company or any of its
subsidiaries or affiliates to purchase goods or services then sold by the Company or any of its
subsidiaries or affiliates from another person, firm, corporation or other entity or assist or aid
any other persons or entity in identifying or soliciting any such customer.

          (c) NONCOMPETITION. Executive acknowledges that Executive performs services of a unique nature
for the Company that are irreplaceable, and that Executive’s performance of such services to a
competing business will result in irreparable harm to the Company. Accordingly, during the
Restricted Period, Executive agrees that Executive shall not, directly or indirectly, own, manage,
operate, control, be employed by (whether as an employee, consultant, independent contractor or
otherwise, and whether or not for compensation) or render services to any person, firm, corporation
or other entity, in whatever form, engaged in any business of the same type as any business in
which the Company or any of its subsidiaries or affiliates is engaged on the date of termination or
in which they have proposed, on or prior to such date, to be engaged in on or after such date at any
time during the twelve (12)-month period ending with the date of termination for any reason (a
twenty-four month post-employment period in the event of termination of Executive’s employment for
any reason at any time during a

12

 

Protection Period), in any locale of any country in which the Company conducts business. This
Section 12(c) shall not prevent Executive from owning not more than two percent (2%) of the total
shares of all classes of stock outstanding of any publicly held entity engaged in such business.

          (d) NONDISPARAGEMENT. Each of Executive and the Company (for purposes hereof, “the Company”
shall mean only (i) the Company by press release or other formally released announcement and (ii)
the executive officers and directors thereof and not another employees) agrees not to make any
public statements that disparage the other party, or in the case of the Company, its respective
affiliates, employees, officers, directors, products or services. Notwithstanding the foregoing,
statements made in the course of sworn testimony in administrative, judicial or arbitral
proceedings (including, without limitation, depositions in connection with such proceedings) shall
not be subject to this Section 12(d). Executive’s provision shall also not cover normal competitive
statements which do not cite Executive’s employment by the Company.

          (e) RETURN OF COMPANY PROPERTY AND RECORDS. Executive agrees that upon termination of
Executive’s employment, for any cause whatsoever, Executive will surrender to the Company in good
condition (reasonable wear and tear excepted) all property and equipment belonging to the Company
and all records kept by Executive containing the names, addresses or any other information with
regard to customers or customer contacts of the Company, or concerning any proprietary or
confidential information of the Company or any operational, financial or other documents given to
Executive during Executive’s employment with the Company.

          (f) COOPERATION.
Executive agrees that, following termination of Executive’s employment for any
reason, Executive shall upon reasonable advance notice, and to the extent it does not interfere with
previously scheduled travel plans and does not unreasonably interfere with other business
activities or employment obligations, assist and cooperate with the Company with regard to any
matter or project in which Executive was involved during Executive’s employment, including any
litigation. The Company shall compensate Executive for reasonable expenses incurred in connection
with such cooperation and assistance.

          (g) ASSIGNMENT OF INVENTIONS. Executive will promptly
communicate and disclose in writing to the Company all inventions and developments including
software, whether patentable or not, as well as patents and patent applications (hereinafter
collectively called “Inventions”), made, conceived, developed, or purchased by Executive, or under
which Executive acquires the right to grant licenses or to become licensed, alone or jointly with
others, which have arisen or jointly with others, which have arisen or may arise out of Executive’s
employment, or relate to any matters pertaining to, or useful in connection therewith, the business
or affairs of the Company or any of its subsidiaries. Included herein as if developed during the
employment period is any specialized equipment and software developed for use in the business of
the Company. All of Executive’s right, title and interest in, to, and under all such Inventions,
licenses, and right to grant licenses shall be the sole property of the Company. Any such
Inventions disclosed to anyone by Executive within one (1) year after the termination of employment
for any cause whatsoever shall be deemed to have been made or conceived by Executive during the
Term. As to all such Inventions, Executive will, upon request of the

13

 

Company execute all documents which the Company deems necessary or proper to enable it to establish
title to such Inventions or other rights, and to enable it to file and prosecute applications for
letters patent of the United States and any foreign country; and do all things (including the
giving of evidence in suits and other proceedings) which the Company deems necessary or proper to
obtain, maintain, or assert patents for any and all such Inventions or to assert its rights in any
Inventions not patented.

          (h) EQUITABLE
RELIEF AND OTHER REMEDIES. The parties acknowledge and agree that the other party’s remedies at law for a breach or threatened breach of
any of the provisions of this Section 12 would be inadequate and, in recognition of this fact, the
parties agree that, in the event of such a breach or threatened breach, in addition to any remedies
at law, the other party, without posting any bond, shall be entitled to obtain equitable relief in
the form of specific performance, temporary restraining order, a temporary or permanent injunction
or any other equitable remedy which may then be available.

          (i) REFORMATION. If it is determined by a court of competent jurisdiction in any state
that any restriction in this Section 12 is excessive in duration or scope or is unreasonable or
unenforceable under the laws of that state, it is the intention of the parties that such
restriction may be modified or amended by the court to render it enforceable to the maximum extent
permitted by the law of that state.

          (j) SURVIVAL OF PROVISIONS. The obligations of Executive set forth in this Section 12
shall survive the termination of Executive’s employment by the Company and the termination or
expiration of this Agreement and shall be fully enforceable thereafter.

     13. NO ASSIGNMENTS.

          (a) This Agreement is personal to each of the parties hereto. Except as provided in
Section 13(b) below, no party may assign or delegate any rights or obligations hereunder
without first obtaining the written consent of the other party hereto.

          (b) The Company shall assign this Agreement to any successor to all or substantially all
of the business or assets of the Company provided that the Company shall require such
successor to expressly assume and agree to perform this Agreement in the same manner and to
the same extent that the Company would be required to perform it if no such succession had
taken place and shall deliver a copy of such assignment to Executive.

     14. NOTICE. For the purpose of this Agreement, notices and all other communications provided
for in this Agreement shall be in writing and shall be deemed to have been duly given (a) on the
date of delivery if delivered by hand, (b) on the first business day following the date of deposit
if delivered by guaranteed overnight delivery service, or (d) on the fourth business day following
the date delivered or mailed by United States registered or certified mail, return receipt
requested, postage prepaid, addressed as follows:

If to Executive:

Mr. Steve
Biegacki

601 East Erie Street—Unit 615

14

 

Milwaukee, Wisconsin 53202

If to the Company:

Belden Inc.

7701 Forsyth Boulevard

Suite 800

St. Louis, Missouri 63105

Attn: General Counsel

or to such other address as either party may have furnished to the other in writing in accordance
herewith, except that notices of change of address shall be effective only upon receipt.

     15. SECTION HEADINGS; INCONSISTENCY. The section headings used in this Agreement are included
solely for convenience and shall not affect, or be used in connection with, the interpretation of
this Agreement. In the event of any inconsistency between this Agreement and any other agreement
(including but not limited to any option, long-term incentive or other equity award agreement),
plan, program, policy or practice of the Company, the terms of this Agreement shall control.

     16. SEVERABILITY. The provisions of this Agreement shall be deemed severable and the
invalidity of unenforceability of any provision shall not affect the validity or enforceability of
the other provisions hereof.

     17. ARBITRATION. Any dispute or controversy arising under or in connection with this
Agreement, other than injunctive relief under Section 12(h) hereof or damages for breach of Section
12, shall be settled exclusively by arbitration, conducted before a single arbitrator in St. Louis,
Missouri, administered by the American Arbitration Association (“AAA”)in accordance with its
Commercial Arbitration Rules then in effect. The single arbitrator shall be selected by the mutual
agreement of the Company and Executive, unless the parties are unable to agree to an arbitrator,
in which case, the arbitrator will be selected under the procedures
of the AAA. The arbitrator will
have the authority to permit discovery and to follow the procedures that Executive or she
determines to be appropriate. The arbitrator will have no power to award consequential (including
lost profits), punitive or exemplary damages. The decision of the arbitrator will be final and
binding upon the parties hereto. Judgment may be entered on the arbitrator’s award in any court
having jurisdiction. Each party shall bear its own legal fees and costs and equally divide the
forum fees and cost of the arbitrator.

     18. INDEMNIFICATION; LIABILITY INSURANCE. The Company and Executive shall enter into the
Company’s standard form of indemnification agreement governing his conduct as an officer and
director of the Company.

     19. AMENDMENTS; WAIVER. No provision of this Agreement may be modified, waived or discharged
unless such waiver, modification or discharge is agreed to in writing and signed by Executive and
such officer or director as may be designated by the Board. No waiver by either party hereto at any
time of any breach by the other party hereto of, or compliance with, any condition or provision of
this Agreement to be performed by such other party shall be

15

 

deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time.

     20. ENTIRE AGREEMENT; MISCELLANEOUS. This Agreement together with all exhibits hereto sets
forth the entire agreement of the parties hereto in respect of the subject matter contained herein.
No agreements or representations, oral or otherwise, express or implied, with respect to the
subject matter hereof have been made by either party which is not expressly set forth in this
Agreement. The validity, interpretation, construction and performance of this Agreement shall be
governed by the laws of the State of Delaware without regard to its conflicts of law principles.
The descriptive headings in this Agreement are inserted for convenience of reference only and are
not intended to be part of or to affect the meaning or interpretation of this Agreement. The use of
the word “including” in this Agreement shall be by way of example rather than by limitation and of
the word “or” shall be inclusive and not exclusive.

     21. CODE SECTION 409A.

          (a) It is intended that any amounts payable under this Agreement and the Company’s and
Executive’s exercise of authority or discretion hereunder shall comply with the provisions of
Section 409A of the Code and the treasury regulations relating thereto so as not to subject
Executive to the payment of interest and tax penalty which may be imposed under Section 409A. In
furtherance of this interest, anything to the contrary herein notwithstanding, no amounts shall be
payable to Executive before such time as such payment fully complies with the provisions of Section
409A and, to the extent that any regulations or other guidance issued under Section 409A after the
date of this Agreement would result in Executive being subject to payment of interest and tax
penalty under Section 409A, the parties agree to amend this Agreement in order to bring this
Agreement into compliance with Section 409A.

          (b) With regard to any provision herein that provides for reimbursement of expenses or in-kind
benefits, except as permitted by Section 409A, (i) the right to reimbursement or in-kind benefits
is not subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible
for reimbursement, or in-kind benefits, provided during any taxable
year shall not affect the
expenses eligible for reimbursement, or in-kind benefits to be
provided, in any other taxable year,
other than as excepted under Treas. Reg. §1.409A-3(i)(l)(iv)(B) with regard to expenses reimbursed
under any arrangement covered by Section 105(b) of the Code solely because such expenses are
subject to a limit related to the period the arrangement is in effect.

          (c) Without limiting the discretion of either the Company or the Executive to terminate the
Executive’s employment hereunder for any reason (or no reason), solely for purposes of compliance
with 409A a termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the payment of any amounts or benefits upon or following
a termination of employment unless such termination is also a separation from service (within the
meaning of Treasury Regulation Section 1.409A-l(h)(applying the 20% default post-separation limit
thereunder)) as an employee and, for purposes of any such provision of this Agreement, references to
a “termination” or “termination of employment” shall mean separation from service as an employee
and such payments shall

16

 

thereupon be made at or following such separation from service as an employee as provided
hereunder.

     22. FULL SETTLEMENT. Except as set forth in this Agreement, the Company’s obligation to
make the payments provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any circumstances, including without limitation, set-off,
counterclaim, recoupment, defense or other claim, right or action which the Company may have
against Executive or others, except to the extent any amounts are due
the Company or its
subsidiaries or affiliates pursuant to a judgment against Executive. In no event shall
Executive be obliged to seek other employment or take any other action by way of mitigation of
the amounts payable to Executive under any of the provisions of this Agreement, nor shall the
amount of any payment hereunder be reduced by any compensation earned
by Executive as a result
of employment by another employer, except as set forth in this Agreement.

     23. WITHHOLDING. The Company may withhold from any and all amounts payable under this
Agreement such federal, state and local taxes as may be required to be withheld pursuant
to any applicable law or regulation.

     24. AGREEMENT OF THE PARTIES. The language used in this Agreement will be deemed to be
the language chosen by the parties hereto to express their mutual
intent, and no rule of strict
construction will be applied against any party hereto. Neither Executive nor the Company shall
be entitled to any presumption in connection with any determination made hereunder in
connection with any arbitration, judicial or administrative proceeding relating to or arising
under this Agreement.

     25. COUNTERPARTS. This Agreement may be executed in several counterparts, each of which
shall be deemed to be an original but all of which together will constitute one and the same
instruments. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date and year first written above.

	 	 	 	 	 
	 	BELDEN INC.

 	 
	 	By:  	/s/ John Stroup
 	 
	 	 	John Stroup, President and
Chief Executive Officer	 
	 
	 	 	 
	 	By:  	/s/ Steven Biegacki
 	 
	 	 	Steven Biegacki 	 
	 	 	 	 
	 

17

 

EXHIBIT A

GENERAL RELEASE OF ALL CLAIMS

     1. For and in consideration of the promises made in the Executive Employment Agreement
(defined below), the adequacy of which is hereby acknowledged, the undersigned(“Executive”), for
himself, his heirs, administrators, legal representatives, executors, successors, assigns, and all
other persons claiming through Executive, if any (collectively,
“Releasers”), does hereby release,
waive, and forever discharge Belden Inc. (“Company”), the Company’s subsidiaries, parents,
affiliates, related organizations, employees, officers, directors, attorneys, successors, and
assigns (collectively, the “Releases”) from, and does fully waive any obligations of Releases to
Releasers for, any and all liability, actions, charges, causes of action, demands, damages, or
claims for relief, remuneration, sums of money, accounts or expenses(including attorneys’ fees and
costs) of any kind whatsoever, whether known or unknown or contingent or absolute, which heretofore
has been or which hereafter may be suffered or sustained, directly or indirectly, by Releasers in
consequence of, arising out of, or in any way relating to Executive’s employment with the Company
or any of its affiliates or the termination of Executive’s employment. The foregoing release and
discharge, waiver and covenant not to sue includes, but is not limited to, all claims and any
obligations or causes of action arising from such claims, under common law including wrongful or
retaliatory discharge, breach of contract(including but not limited to any claims under the
Employment Agreement between the Company and Executive, effective as of July 16, 2007, (the
“Employment Agreement”) and any claims under any stock option and restricted stock units agreements
between Executive and the Company) and any action arising in tort including libel, slander,
defamation or intentional infliction of emotional distress, and claims under any federal, state or
local statute including Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866 and
1871 (42 U.S.C. § 1981), the National Labor Relations Act, the Age Discrimination in Employment Act
(ADEA), the Fair Labor Standards Act, the Americans with Disabilities Act of 1990, the
Rehabilitation Act of 1973, the Missouri Human Rights Act (R.S. MO
Section 213.010 et seq.), or the
discrimination or employment laws of any state or municipality, or any claims under any express or
implied contract which Releasers may claim existed with Releases. This release and waiver does not
apply to any claims or rights that may arise after the date Executive signs this General Release.
The foregoing release does not apply to any claims of indemnification under the Employment
Agreement or a separate indemnification agreement with the Company or rights of coverage under
directors and officer’s liability insurance.

     2. Excluded
from this release and waiver are any claims which cannot be waived by law,
including but not limited to the right to participate in an investigation conducted by certain
government agencies. Executive does, however, waive Executive’s right to any monetary recovery
should any agency (such as the Equal Employment Opportunity Commission) pursue any claims on
Executive’s behalf. Executive represents and warrants that Executive has not filed any complaint,
charge, or lawsuit against the Releases with any government agency or any court.

     3. Executive
agrees never to sue Releases in any forum for any claim covered by the above waiver
and release language, except that Executive may bring a claim under
the ADEA to challenge this
General Release or as otherwise provided in this General Release. If

A-1

 

Executive violates this General Release by suing Releases, other than under the ADEA or as
otherwise set forth in Section 1 hereof, Executive shall be liable to the Company for its
reasonable attorneys’ fees and other litigation costs incurred in defending against such a suit.
Nothing in this General Release is intended to reflect any party’s belief that Executive’s waiver
of claims under ADEA is invalid or unenforceable, it being the interest of the parties that such
claims are waived.

     4. Executive acknowledges, agrees and affirms that he is subject to certain post-employment
covenants pursuant to Section 12 of the Employment Agreement, which covenants survive the
termination of his employment and the execution of this General Release.

     5. Executive acknowledges and recites that:

          (a) Executive has executed this General Release knowingly and voluntarily;

          (b) Executive has read and understands this General Release in its entirety;

          (c) Executive has been advised and directed orally and in writing (and this subparagraph (c)
constitutes such written direction) to seek legal counsel and any other advice he wishes with
respect to the terms of this General Release before executing it;

          (d) Executive’s execution of this General Release has not been coerced by any employee or
agent of the Company; and

          (e) Executive has been offered twenty-one (21) calendar days after receipt of this General
Release to consider its terms before executing it.

     6. This General Release shall be governed by the internal laws (and not the choice flaws) of
the State of Delaware, except for the application of pre-emptive Federal law.

     7. Executive shall have seven (7) days from the date hereof to revoke this General Release by
providing written notice of the revocation to the Company, as
provided in Section 14 of the
Employment Agreement, upon which revocation this General Release shall be unenforceable and null
and void and in the absence of such revocation this General Release shall be binding and
irrevocable by Executive.

     PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

	 	 	 	 	 
	Date:                                         , 2008

	 	EXECUTIVE:
	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	Steven Biegacki	 	 

A-2

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