A handling system with an improved fairlead is provided for protecting a tow cable wherein the cable breaking strength exceeds the system-rated tension load; the fairlead being positioned collinearly between the system bellmouth and winch. A guide slot passes through the fairlead positioning the cable higher than the winch release point and bellmouth entry point, maintaining the cable down-slope as the cable exits the fairlead. The slot has a hemispherical portion tapering inward to a groove extending downward. Near the groove bottom, at the fairlead end nearest the bellmouth, is a cutting device. Under tension, the cable rides in the hemispherical portion of the groove. If tension suddenly increases from a snag, the resulting force drives the cable down into the groove where the cable is cut by the device, separating before the force damages the system. The constrained cable end is securely held in place by the taper.