Document:

<PAGE>
                                                                     Exhibit 4.1

                         FIFTH AMENDMENT TO AMENDED AND
                     RESTATE MULTICURRENCY CREDIT AGREEMENT

     THIS FIFTH AMENDMENT TO AMENDED AND RESTATED MULTICURRENCY CREDIT
AGREEMENT, dated as of February 15, 2002 (this "Amendment"), amends the Amended
and Restated Multicurrency Credit Agreement, dated as of May 15, 2001 (as
heretofore amended, the "Credit Agreement"), among APW Ltd., a Bermuda
corporation (the "Borrower"), the various financial institutions parties thereto
(collectively, the "Banks"), Bank One, NA, as syndication agent, The Chase
Manhattan Bank, as documentation agent and Bank of America, N.A., as
administrative agent. Terms defined in the Credit Agreement are, unless
otherwise defined herein or the context otherwise requires, used herein as
defined therein.

     WHEREAS, the parties hereto have entered into the Credit Agreement, which
provides for the Banks to extend certain credit facilities to the Borrower from
time to time; and

     WHEREAS, the parties hereto desire to amend the Credit Agreement in certain
respects as hereinafter set forth;

     NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration (the receipt and sufficiency of which are hereby
acknowledged), the parties hereto agree as follows:

     SECTION 1. CONSENT. The Banks hereby agree that notwithstanding the
provisions of Section 2.12(b) of the Credit Agreement, the interest payments
scheduled to be due prior to April 15, 2002 (the "Deferral Date"), shall not be
payable until the earliest date of: (i) the Deferral Date, or (ii) the first
date after January 15, 2002 on which the lenders under the UK Facility receive
any payment in respect of interest or commissions under the UK Facility.

     SECTION 2. WAIVER. The Banks hereby waive the right to require compliance
by the Borrower and its Subsidiaries with the requirements of Section 7.6 of the
Credit Agreement for the period from January 31, 2002 to but excluding April 15,
2002.

     SECTION 3. LIMITATION OF CONSENT AND WAIVER.

     The consent and waiver set forth herein shall be limited to their terms and
shall not constitute a waiver of any other rights the Banks may have from time
to time, including the right, upon the occurrence of an Event of Default other
than the failure to pay such interest prior to the Deferral Date or the breach
of any agreement specifically waived hereunder, to accelerate the maturity of
the Loans and all payments, including interest payment, with respect thereto.

     SECTION 4. AMENDMENTS. As of the date hereof, the Credit Agreement is
amended as follows:

     4.1 Interim Reports. Section 7.1(b) of the Credit Agreement is hereby
amended to state in its entirety as follows:

<PAGE>

          "(b) Interim Reports (i) Promptly when available and in any event
          within 45 days after the end of each Fiscal Quarter (except the Last
          Fiscal Quarter of each Fiscal Year), consolidated balance sheets of
          the Borrower and its Subsidiaries as of the end of such Fiscal
          Quarter, consolidated statements of earnings and a consolidated
          statement of cash flow for such Fiscal Quarter and for the period
          beginning with the first day of such Fiscal Year and ending on the
          last day of such Fiscal Quarter of the Borrower and its Subsidiaries,
          with, in the case of each Fiscal Quarter ending on or after November
          30, 2001, comparable information at the close of and for the
          corresponding portion of such prior Fiscal Year, together with a
          certificate of the chief financial officer or the Treasurer of the
          Borrower to the effect that such financial statements fairly present
          the financial condition and results of operations of the Borrower and
          its Subsidiaries of the date and periods indicated (subject to normal
          year-end adjustments).

          (ii) Promptly when available and in any event within 30 days after the
          end of each calendar month, consolidated balance sheets of the
          Borrower and its Subsidiaries as of the end of such month,
          consolidated statements of earnings and a consolidated statement of
          cash flow for such month and for the period beginning with the first
          day of such Fiscal Year and ending on the last day of such month of
          the Borrower and its Subsidiaries, together with a certificate of the
          chief financial officer or the Treasurer of the Borrower to the effect
          that such financial statements fairly represent the financial
          condition and results of operations of the Borrower and its
          Subsidiaries as of the date and periods indicated (subject to normal
          year-end adjustments)."

     4.2 Representations.

     Section 6.5 of the Credit Agreement is hereby amended to state in its
entirety as follows:

          "6.5 No Material Adverse Effect. No event has occurred or condition
          has arisen that has had or is reasonably likely to have a Material
          Adverse Effect since February 28, 2001, with respect to the Borrower
          and its Subsidiaries, except as described in Item 6.5 of the
          Disclosure Schedule or otherwise disclosed in writing to the Banks
          prior to the date of the Fifth Amendment hereto."

     SECTION 5. CONDITIONS PRECEDENT. This Amendment shall become effective when
each of the conditions precedent set forth in this Section 3 shall have been
satisfied, and notice thereof shall have been given by the Agent to the Borrower
and the Lenders.

                                        2

<PAGE>

     5.1 Receipt of Documents. This Administrative Agent shall have received all
of the following documents duly executed, dated the date hereof or such other
date as shall be acceptable to the Administrative Agent, and in form and
substance satisfactory to the Administrative Agent:

          a)   Amendment. This Amendment, duly executed by the Borrower, the
               Administrative Agent and the Lenders.

          b)   Consents. Consents of all Guarantors hereto.

          c)   UK Facility. Amendments to the UK Facility providing that
               interest on the UK Facility shall not be payable prior to the
               Deferral Date and making other changes consistent herewith.

     SECTION 6. REPRESENTATIONS AND WARRANTIES. To induce the Banks and the
Administrative Agent to enter into this Amendment, the Borrower hereby
reaffirms, as of the date hereof, its representations and warranties contained
in the Credit Agreement, as hereby amended, and the other Loan Documents, and
the Borrower additionally represents and warrants to the Administrative Agent
and each Bank as follows:

     6.1 Due Authorization, Non-Contravention, etc. The execution, delivery and
performance by the Borrower of this Amendment are within the Borrower's
corporate powers, have been duly authorized by all necessary corporation action,
and do not

          a)   contravene the Borrower's Organic Documents;

          b)   contravene any contractual restriction, law or governmental
               regulation or court decree or order binding on or affecting the
               Borrower; or

          c)   result in, or require the creation or imposition of, any Lien on
               any of the Borrower's properties.

     6.2 Governmental Approval, Regulations, etc. No authorization or approval o
other action by, and no notice to or filing with, any governmental authority or
regulatory body or other Person is required for the due execution, delivery or
performance by the Borrower of this Amendment.

     6.3 Validity, etc. This Amendment constitutes the legal, valid and binding
obligation of the Borrower enforceable in accordance with its terms, except to
the extent enforceability thereof is limited by bankruptcy, insolvency or other
laws relating to, or affecting enforcement of, creditors' rights in general, and
general principles of equity.

     SECTION 7. MISCELLANEOUS

     7.1 Continuing Effectiveness, etc. This Amendment shall be deemed to be an
amendment to the Credit Agreement, and the Credit Agreement, as amended hereby,
shall remain in full force and effect and is hereby ratified, approved and
confirmed in each and every respect. After the effectiveness of this Amendment
in accordance with its terms, all references to

                                        3

<PAGE>

the Credit Agreement in the Loan Documents or in any other document,
instrument, agreement or writing shall be deemed to refer to the Credit
Agreement as amended hereby.

     7.2 Payment of Costs and Expenses. The Borrower agrees to pay on demand all
expenses of the Administrative Agent (including the fees and out-of-pocket
expenses of counsel to the Administrative Agent) in connection with the
negotiation, preparation, execution and delivery of this Amendment.

     7.3 Severability. Any provision of this Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such provision and such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions of this Amendment
or affecting the validity or enforceability of such provision in any other
jurisdiction.

     7.4 Headings. The various headings of this Amendment are inserted for
convenience only and shall not affect the meaning or interpretation of this
Amendment or any provisions hereof.

     7.5 Execution in Counterparts. This Amendment may be executed by the
parties hereto in several counterparts, each of which shall be deemed to be an
original and all of which shall constitute together but one and the same
agreement.

     7.6 Governing Law. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE
UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF ILLINOIS.

     7.7 Successors and Assigns. This Amendment shall be binding upon and shall
inure to the benefit of the parties hereto and their respective successors and
assigns.

                                        4

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers thereunto duly authorized as of the day
and year first above written.

                                        APW LTD.

                                        By: /s/ Richard D. Carroll
                                            ----------------------
                                        Name:  Richard D. Carroll
                                        Title: VP-CFO

                                        BANK OF AMERICAN, N.A., as
                                        Administrative Agent and as a Bank

                                        By:  /s/ M. Duncan McDuffie
                                           ------------------------
                                        Name:  M. Duncan McDuffie
                                        Title: Managing Director

                                        THE BANK OF TOKYO-MITSUBISHI, LTD.,
                                        CHICAGO BRANCH

                                        By:  /s/ Shinichiro Munechika
                                           --------------------------
                                        Name:  Shinichiro Munechika
                                        Title: Deputy General Manager

                                        BANK ONE, N.A. (Main Office Chicago) as
                                        Syndication Agent and as a Bank

                                        By:  /s/ Thomas T. Bower
                                           ---------------------
                                        Name:  Thomas T. Bower
                                        Title: Senior Vice President

                                        BNP PARIBAS

                                        By:  /s/ Barbara Eppolito
                                           ----------------------
                                        Name:  Barbara Eppolito
                                        Title: Vice President

                                        By:  /s/ Kathryn Quinn
                                           -------------------
                                         Name:  Kathryn Quinn
                                        Title:  Vice President

                                        COPPER BEECH HOLDINGS, LLC

                                        By:  /s/ Edward Smith Christie
                                           ---------------------------
                                        Name:  Edward Smith Christie
                                        Title: Vice President

<PAGE>

                                         CREDIT LYONNAIS CHICAGO BRANCH

                                         By:  /s/ Richard Teitelbaum
                                            ------------------------
                                         Name:  Richard Teitelbaum
                                         Title: Vice President

                                         THE DAI-ICHI KANGYO BANK, LTD.

                                         By:  /s/ Nobuyasu Fukatsu
                                            ----------------------
                                         Name:  Nobuyasu Fukatsu
                                         Title: General Manager

                                         FIRST UNION NATIONAL BANK

                                         By:  /s/ William W. Teegarden
                                            --------------------------
                                         Name:  William W. Teegarden
                                         Title: Senior Vice President

                                         JPMORGAN CHASE BANK, as
                                         Documentation Agent and a Bank

                                         By:  /s/ Michael Lancia
                                            --------------------
                                         Name:  Michael Lancia
                                         Title: Vice President

                                         M&I MARSHALL & ILSLEY BANK

                                         By:  /s/ Michael Vellon
                                            --------------------
                                         Name:  Michael Vellon
                                         Title: Vice President

                                         By:  /s/ Thomas R. Johnson
                                            -----------------------
                                         Name:  Thomas R. Johnson
                                         Title: Senior Vice President

                                         THE MITSUBISHI TRUST AND BANKING
                                         CORPORATION

                                         By:  /s/ Thomas A. Pennington
                                            --------------------------
                                         Name:  Thomas A. Pennington
                                         Title: Executive Vice President

                                        2

<PAGE>

                                         OCM PRINCIPAL OPPORTUNITIES FUND
                                         II, L.P. by Oaktree Capital Management,
                                         LLC, its General Partner

                                         By:  /s/ John B. Frank
                                            -------------------
                                         Name:  John B. Frank
                                         Title:    General Counsel

                                         By:  /s/ Jordon L. Kruse
                                            ---------------------
                                         Name:  Jordon L. Kruse
                                         Title: Vice President

                                         OCM OPPORTUNITIES FUND III, L.P. by
                                         Oaktree Capital Management, LLC, its
                                         General Partner

                                         By:  /s/ John B. Frank
                                            -------------------
                                         Name:  John B. Frank
                                         Title: General Counsel

                                         PERRY PRINCIPALS, L.L.C.

                                         By:  /s/ Nat Klipper
                                            -----------------
                                         Name:  Nat Klipper
                                         Title:

                                         ROYAL BANK OF SCOTLAND, PLC

                                         By:  /s/ Ian Roberts
                                            -----------------
                                         Name:  Ian Roberts
                                         Title: Manager Specialised Lending
                                                Services

                                         SOCIETE GENERALE

                                         By:  /s/ Eric E.O. Siebert Jr.
                                              --------------------------
                                         Name:  Eric E.O. Siebert Jr.
                                         Title: Director

                                         U.S. BANK NATIONAL ASSOCIATION

                                         By:  /s/ Greg Wilson
                                            -----------------
                                         Name:  Greg Wilson
                                         Title: VP

                                        3

<PAGE>

                                         WILLIAM E. SIMON & SONS SPECIAL
                                         SITUATIONS PARTNERS II, L.P.

                                         By:  /s/ Dale Leshaw
                                            -----------------
                                         Name:  Dale Leshaw
                                         Title: Principal

                                         LEHMAN COMMERCIAL PAPER, INC.

                                         By:  /s/ Jeffrey D. Tuck
                                            ---------------------
                                         Name:  Jeffrey D. Tuck
                                         Title: Authorized Signatory

                                        4

<PAGE>

                              AGREEMENT AND CONSENT

         The undersigned Guarantors hereby agree and consent, as of the date and
year first above written, to the terms and provisions of the Fourth and Fifth
Amendments to the Amended and Restated Multicurrency Credit Agreement and to the
terms and provisions of the Amendment Agreement amending the UK Facility, dated
February 12, 2002, and agree that the Loan Documents, guarantee documents and
facility agreements executed by the undersigned Guarantors shall remain in full
force and effect notwithstanding the provisions of the foregoing Fifth Amendment
to the Credit Agreement and the Amendment Agreement amending the UK Facility.

AIR CARGO EQUIPMENT (UK) LIMITED

By:  /s/ Chris Green
     ---------------------------
Name:  Chris Green
Title: Director

APPLIED POWER LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW CASES EUROPE LTD. (formerly
known as ZERO CASES EUROPE LTD.)

By:  /s/ Chris Green
     ---------------------------
Name:  Chris Green
Title: Director

APW ELECTRONICS GMBH

By:  /s/ Jan De Koning
     ---------------------------
Name:  Jan De Koning
Title: Managing Director

APW ELECTRONICS GROUP PLC

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

<PAGE>

APW ELECTRONICS LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW ELECTRONICS OVERSEAS
INVESTMENTS LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW ENCLOSURE PRODUCTS AND
SYSTEMS LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW ENCLOSURE SYSTEMS (UK) LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

                                        2

<PAGE>

APW ENCLOSURE SYSTEMS HOLDING,
INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

APW ENCLOSURE SYSTEMS HOLDINGS,
LTD.

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title:    Company Secretary

APW ENCLOSURES SYSTEMS, LP by
APW Enclosure Systems Holding, Inc., its
General Partner

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

APW ENCLOSURE SYSTEMS PLC

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title:    Company Secretary

APW ENCLOSURE SYSTEMS, INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

                                       3

<PAGE>

APW ENCLOSURES (DUBLIN) LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW ENCLOSURES LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW FINANCE LIMITED

By:  /s/ Jan De Koning
     ---------------------------
Name:  Jan De Koning
Title: Director

APW GALWAY LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW HOLDING B.V.

By:  /s/ Jan De Koning
     ---------------------------
Name:  Jan De Koning
Title: Director

APW HOLDINGS (EUROPE) LTD.

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

                                        4

<PAGE>

APW HOLDINGS (UK) LTD.

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW INVESTMENTS UK LTD.

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW MAYVILLE LLC

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

APW MAYVILLE LTD.

By:  James Maxwell
     ---------------------------
Name:
Title:

APW NETHERLANDS B.V.

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW NEW FOREST LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

                                        5

<PAGE>

APW NORTH AMERICA, INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

APW POWER SUPPLIES AS

By:  /s/ Eliot Swan
     ---------------------------
Name:  Eliot Swan
Title: Director

By:  /s/ Kash Pandya
     ---------------------------
Name:  Kash Pandya
Title: Director

APW POWER SUPPLIES LTD.

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW PRODUCTS AND SYSTEMS B.V.

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

APW WRIGHT LINE LLC

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

APW-ERIE, INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

                                        6

<PAGE>

ASPEN MOTION TECHNOLOGIES INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

BEELEY WOOD HOLDINGS LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

C FAB DEVELOPMENT LTD.

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

CAMBRIDGE AEROFLO, INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

CIPRESMAD-CONSULTORES E
SERVICOS, LTD.

By:  /s/ Howard Lederman
     ---------------------------
Name:
Title:

CIPRESMAD HUNGARY GROUP
FINANCING LLC

By:  /s/ Howard Lederman
     ---------------------------
Name:
Title:

                                        7

<PAGE>

EDER INDUSTRIES INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

ELECTRONIC SOLUTIONS

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

ELECTRONICS PACKAGING LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

HIGH SPEED PRODUCTION (HOLDINGS)
LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

HOERMANN ELECTRONICS LIMITED

By:  /s/ Eliot Swan
     ---------------------------
Name:  Eliot Swan
Title: Director

By:  /s/ Kash Pandya
     ---------------------------
Name:  Kash Pandya
Title: Director

HOERMANN SECURITY SYSTEMS LTD.

By:  /s/ Eliot Swan
     ---------------------------
Name:  Eliot Swan
Title: Director

By:  /s/ Kash Pandya
     ---------------------------
Name:  Kash Pandya
Title: Director

                                        8

<PAGE>

HSP SHEFFIELD LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

HSP STRATHCLYDE LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

IMHOF-BEDCO LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

IMHOF-BEDCO STANDARD PRODUCTS LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

IMHOF-BEDCO SPECIAL PRODUCTS LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

INNOVATIVE METAL FABRICATION, INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

                                        9

<PAGE>

J HIGGINS MANUFACTURING
(IRELAND) LTD.

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

MCLEAN MIDWEST CORPORATION

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

MCLEAN WEST INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

METAL ARTS MANUFACTURING, INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

PRECISION FABRICATION
TECHNOLOGIES INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

RUBICON FINANCE LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

                                       10

<PAGE>

TOWERFLAME LIMITED

By:  /s/ Chris Green
     ---------------------------
Name:  Chris Green
Title: Director

VERO CIRCUITBOARDS LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

VERO CONNECTORS LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

VERO ELECTRONICS (EXPORTS) LTD

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

VERO ELECTRONICS, INC.

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

WRIGHT LINE EUROPE B.V.

By:  /s/ Jan De Koning
     ---------------------------
Name:  Jan De Koning
Title: Director

WRIGHT LINE LIMITED

By:  /s/ Samantha Kirby
     ---------------------------
Name:  Samantha Kirby
Title: Company Secretary

ZERO-EAST DIVISION, ZERO
CORPORATION

By:  /s/ James Maxwell
     ---------------------------
Name:
Title:

                                       11<PAGE>
                                                                     Exhibit 4.2

THIS AMENDMENT AGREEMENT is made the 12 February 2002

BETWEEN

(1)  APW ELECTRONICS GROUP PLC (formerly Vero Group PLC)

(2)  APW ELECTRONICS OVERSEAS INVESTMENTS LIMITED (formerly Vero Electronics
     Overseas Investments Limited)

(3)  APW ELECTRONICS LIMITED (formerly Vero Electronics Limited)

(4)  APW ENCLOSURES AB (formerly Vero Enclosures AB)

(5)  APW ELECTRONICS GmbH (formerly Vero Electronics GmbH)

(6)  VERO ELECTRONICS Inc.

(7)  APW ENCLOSURES S.A. (formerly Vero Electronics S.A.) and

(8)  APW ELECTRONICS S.r.L (formerly Vero Electronics S.r.L.) (each a "RBS
     Borrower" and together the "RBS Borrowers");

(9)  THE ROYAL BANK OF SCOTLAND plc ("RBS")

(10) APW ENCLOSURES PRODUCTS & SYSTEMS LIMITED and each of its subsidiaries set
     out in Schedule 1 (each a "NatWest Borrower", together the "NatWest
     Borrowers" and, together with the RBS Borrowers the "Borrowers"); and

(11) NATIONAL WESTMINSTER BANK PLC ("NatWest").

WHEREAS

(A)  RBS and the RBS Borrowers entered into a (pound)27,500,000 revolving credit
     facility dated 24 October 1995 (as subsequently amended by two amendment
     agreements dated 15 May 1998 and 22 May 1998 respectively) (the "RBS
     Facility Agreement"). The RBS Facility Agreement was subsequently amended
     and restated under an amendment agreement dated 15 May 2001 and as further
     amended by amendment agreements dated 27 September 2001, 13 December 2001,
     18 January 2002 and 29 January 2002.

(B)  NatWest and the NatWest Borrowers entered into a (pound)27,000,000
     multi-line facility dated 20 April 2000 (the "NatWest Facility Agreement").
     The NatWest Facility Agreement was subsequently amended and restated under
     an amendment agreement dated 15 May 2001 and was further amended by
     amendment agreements dated 27 September 2001, 13 December 2001, 18 January
     2002 and 29 January 2002.

(C)  On 31 July 2000, APW Ltd. APW North America, Inc., APW Holdings (Denmark)
     APS, certain financial institutions, Bank One, N.A., as syndication agent.
     The Chase Manhattan Bank as documentation agent and Bank of America,
     National Association as administrative agent (the "US Agent") entered into
     a multicurrency agreement (as subsequently amended and restated on 15 May
     2001, 27 September 2001, 13 December 2001 and 15 January 2002) (the
     "Multicurrency Agreement") and to be further amended by two agreements to
     be agreed on or around the date of this Agreement.

(D)  RBS, NatWest, the US Agent and others entered into an intercreditor
     agreement dated 15th May 2001 (as subsequently amended and restated on 27
     September 2001) regulating,

                                       -1-

<PAGE>

     inter alia, the application of recoveries under the RBS Facility Agreement,
     the NatWest Facility Agreement and the Multicurrency Agreement (the
     "Intercreditor Agreement").

(E)  The Lenders under the Multicurrency Agreement have agreed to defer interest
     payments under the Multicurrency Agreement on the condition that a similar
     deferral occurs under both the RBS Facility Agreement and the NatWest
     Facility Agreement.

(F)  The parties wish to enter into this Agreement to record the basis on which
     the RBS Facility Agreement and the NatWest Facility Agreement are being
     amended.

IT IS AGREED as follows:

1    DEFINITIONS AND INTERPRETATION

     In this Agreement, except where the context otherwise requires, words and
     expressions defined and references construed in the RBS Facility Agreement
     or the NatWest Facility Agreement (but not defined or construed in this
     Agreement) shall have the same meaning herein.

2    DEFERRAL OF INTEREST PAYMENTS

2.1  With effect from the date hereof, subject only to Clause 3, it is agreed
     that the terms of both the NatWest Facility Agreement and the RBS Facility
     Agreement shall be amended, so that notwithstanding any provision to the
     contrary contained in either Agreement, no interest payment or payment in
     respect of commission due under the terms of either the NatWest Facility
     Agreement, or the RBS Facility Agreement shall be payable until the earlier
     date (the "Deferral Date") of:

     (i)  April 15, 2002; or

     (ii) the first date after the date of this Agreement on which the lenders
          under the Multicurrency Agreement receive any payment in respect of
          interest under the Multicurrency Agreement.

2.2  This consent shall be limited to its terms and shall not constitute a
     waiver of any other rights that RBS or NatWest may have from time to time,
     including the right, upon the occurrence of an Event of Default (other than
     the failure to pay such interest or commission on the due date for payment
     which would have applied, but for Clause 2.1 of the Agreement), to
     accelerate the maturity of all loans and all payments under the RBS
     Facility Agreement and/or the NatWest Facility Agreement, including said
     interest and commission payments, with respect thereto.

2.3  The parties agree to be bound by the RBS Facility Agreement and the NatWest
     Facility Agreement, each as amended.

3    CONDITIONS PRECEDENT TO THIS AMENDMENT AND RESTATEMENT AGREEMENT

3.1  This Agreement shall become effective once (a) RBS, for itself and on
     behalf of NatWest, has received an executed copy of this Agreement duly
     executed by all of the

                                       -2-

<PAGE>

     parties thereto; (b) each of the guarantors of the RBS Facility and the
     NatWest Facility have consented hereto by executing an agreement and
     consent in the form agreed between RBS, NatWest and the US Agent, and (c)
     all outstanding invoices submitted by RBS and NatWest in respect of legal
     fees relating to the RBS Facility and the NatWest Facility have been paid
     in full.

3.2  It shall be a condition precedent to this Agreement becoming effective that
     RBS shall have received in a form and substance satisfactory to it, a
     certificate of non-revocation issued by the Secretary/Director of each UK
     Obligor, confirming that the resolutions of the board of directors of such
     UK Obligor passed on or about 17 January 2002, approving the execution and
     delivery of amendments to the RBS Facility Agreement and the NatWest
     Facility Agreement and the performance of its obligations thereunder and
     authorizing a person or persons (specified by name) on behalf of each UK
     Obligor to sign and deliver any documents to be delivered by it pursuant to
     such agreements remain in full force and effect.

4    GENERAL

4.1  The Borrowers hereby undertake that the Representations and Warranties set
     out in Clause 12 of the RBS Facility Agreement other than those contained
     in Clause 12.1(e) (Litigation), 12.1(g) (Accounts), and 12.1(h) (No
     Default) are true and accurate as of the date of this Agreement.

4.2  To the extent inconsistent with the Multicurrency Agreement, NatWest and
     RBS amend and/or waive any relevant provisions of the NatWest Facility
     Agreement and the RBS Facility Agreement in order to incorporate mutatis
     mutandis any waiver or amendment in relation to Sections 7.1 and 7.6 of the
     Multicurrency Agreement which have or which are to be granted by the
     various banks and financial institutions that are a party to the
     Multicurrency Agreement.

4.3  All other terms and conditions of the NatWest Facility Agreement and the
     RBS Facility Agreement remain unchanged.

4.4  A person who is not a party to this Agreement has no right under the
     Contracts (Rights of Third Parties) Act 1999 to enforce or enjoy the
     benefit of any term of this Agreement.

4.5  The Borrowers shall on demand reimburse RBS and NatWest all reasonable
     costs including fees, costs and expenses (including legal fees and
     expenses) incurred in or in connection with the negotiation and execution
     of this Agreement shall pay all stamp, registration and other taxes to
     which any such document is, or at any time may be, subject and shall
     indemnify RBS and NatWest against any liabilities, expenses, costs or
     claims resulting from any failure to pay, or any delay in paying, such tax.

4.6  For the avoidance of doubt, this Agreement shall constitute a UK Finance
     Document (as defined in the RBS Facility and NatWest Facility).

4.7  This Agreement shall be governed by and construed in accordance with the
     laws of England and the parties hereto submit to the jurisdiction of the
     English courts.

                                       -3-

<PAGE>

SIGNED FOR AND ON BEHALF OF: -

THE ROYAL BANK OF SCOTLAND plc

By:  /s/ Ian Roberts

SIGNED FOR AND ON BEHALF OF: -

NATIONAL WESTMINSTER BANK PLC

By:  /s/ Ian Roberts

THE RBS BORROWERS

APW ELECTRONICS GROUP PLC

By:  /s/ Samantha Kirby
         Company Secretary

APW ELECTRONICS OVERSEAS INVESTMENTS LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW ELECTRONICS LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW ENCLOSURES AB

By:  /s/ [illegible in original]
     /s/ Carol A. Frank

APW ELECTRONICS GmbH

By:  /s/ Jan De Koning
         Jan De Koning
         Managing Director

                                       -4-

<PAGE>

VERO ELECTRONICS INC.

By:  /s/ Richard D. Carroll

APW ENCLOSURES S.A.

By:  /s/ [illegible in original]
     /s/ Carol A. Frank

APW ELECTRONICS S.r.L.

By:  /s/ Richard D. Carroll

THE NATWEST BORROWERS

APW ENCLOSURE SYSTEMS PLC

By:  /s/ Samantha Kirby
         Company Secretary

APW ENCLOSURE PRODUCTS & SYSTEMS LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW ENCLOSURE SYSTEMS (UK) LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW INVESTMENTS UK LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW HOLDINGS (UK) LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

                                       -5-

<PAGE>

RUBICON FINANCE LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW HOLDINGS (EUROPE) LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW ELECTRONICS GROUP PLC

By:  /s/ Samantha Kirby
         Company Secretary

APW ELECTRONICS OVERSEAS INVESTMENTS LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW ELECTRONICS LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW POWER SUPPLIES LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APPLIED POWER LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

                                       -6-

<PAGE>

APW ENCLOSURE SYSTEMS HOLDINGS LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW GALWAY LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

APW NEW FOREST LIMITED

By:  /s/ Samantha Kirby
         Company Secretary

                                       -7-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}]]