MAGNETEK INC
EX-10.18
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NAME="jc1595_exhibit_10.18"> </A>
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<BR></FONT><FONT SIZE=2><B>Exhibit 10.18    <BR>    </B></FONT></P>

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<BR></FONT><FONT SIZE=2><B>AMENDMENT NO. 2 TO<BR>  EXECUTIVE MANAGEMENT AGREEMENT    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment No. 2 to Executive Management Agreement (this "Amendment") is made and entered into as of November 14, 2002, by and between Magnetek, Inc. (the
"Company"), a Delaware corporation, and The Spectrum Group, Inc. ("Spectrum"), a California corporation. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><I>WITNESSETH  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company and Spectrum entered into a five-year Executive Management Agreement dated as of July 1, 1994 (the "Agreement") which would have expired by
its terms on July 1, 1999; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Board of Directors of the Company adopted certain resolutions as of May 5, 1999 extending the Agreement through June 30, 2000; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Company and Spectrum previously amended the Agreement extending the Agreement through December 31, 2002; and </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Company and Spectrum at this time desire to amend the Agreement so as to extend it through December 31, 2005. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><I>AGREEMENT  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the Company and Spectrum agree as follows: </FONT></P>

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<DT style='margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD><FONT SIZE=2>Section
1.A of the Amended Agreement (?) is hereby amended by deleting the words "December 31, 2002" and replacing them with the words "December 31, 2005".
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD><FONT SIZE=2>Section
3 of the Agreement is hereby amended by deleting the words "July 1, 1999" and replacing them with the words "December 31, 2005". (Should this again reference the amendment that
extended the term to 2002?)
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD><FONT SIZE=2>Except
as amended hereby, the Agreement remains in full force and effect. </FONT></DD></DL>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the parties hereto have executed this Amendment No. 2 to Executive Management Agreement as of the date first above written. </FONT></P>

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<TD COLSPAN=2><FONT SIZE=2>MAGNETEK, INC.</FONT></TD>
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<TD COLSPAN=2><FONT SIZE=2>THE SPECTRUM GROUP, INC.</FONT></TD>
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<FONT SIZE=2><A HREF="#toc_jc1595_1">Exhibit 10.18</A></FONT><BR>
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<FONT SIZE=2><A HREF="#toc_jc1595_2">AMENDMENT NO. 2 TO EXECUTIVE MANAGEMENT AGREEMENT</A></FONT><BR>

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