PW EAGLE INC
UPONOR'S SELLER'S AGREEMENT
<DOCUMENT>
<TYPE>EX-10.10
<SEQUENCE>3
<FILENAME>dex1010.htm
<DESCRIPTION>UPONOR'S SELLER'S AGREEMENT
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<TITLE>Uponor's Seller's Agreement</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B><I>EXHIBIT 10.10
</I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"><B><I>THE INDEBTEDNESS EVIDENCED BY THIS UNSECURED
PROMISSORY NOTE IS SUBORDINATED TO THE PRIOR PAYMENT FULL OF ALL INDEBTEDNESS OF MAKER TO WELLS FARGO BUSINESS CREDIT, INC. PURSUANT TO A SUBORDINATION AGREEMENT AND TO MEDALLION CAPITAL, INC. PURSUANT TO A SUBORDINATION AGREEMENT.
</I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>UNSECURED PROMISSORY NOTE </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>$2,125,000.00</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT FACE="Times New Roman" SIZE="2"><B>P<SMALL>RINCIPAL</SMALL>
S<SMALL>UM</SMALL></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>S<SMALL>EPTEMBER</SMALL> 27, 2004</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">This Unsecured
Promissory Note (this &#147;Note&#148;) is made as of September 27, 2004 (the &#147;Effective Date&#148;) by PW Poly Corp., a Minnesota corporation (&#147;Maker&#148;), to the order of Uponor Aldyl Company, Inc. a Delaware corporation
(&#147;Holder&#148;). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>R<SMALL>ECITALS</SMALL>
</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">A. Holder and Maker have entered into a Contribution and
Membership Interest Purchase Agreement, dated September 1, 2004 (the &#147;Agreement&#148;), pursuant to which Holder is contributing substantially all of its assets and certain of its liabilities to Uponor Aldyl Holding Company, LLC, a Delaware
limited liability company (the &#147;Company&#148;). Maker is purchasing from Holder 100% of the membership interests (the &#147;Interest&#148;) of the Company. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">B. As consideration for the purchase of the Interest, on the Effective Date, Maker is delivering to Holder this Note and payment of U.S.$12,875,000.00
in cash, which amount Maker is borrowing from certain lenders (the &#147;Lenders&#148;). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>



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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>T<SMALL>ERMS</SMALL> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ARTICLE XII.<I> P<SMALL>RINCIPAL</SMALL> A<SMALL>MOUNT</SMALL> <SMALL>AND</SMALL>
I<SMALL>NTEREST</SMALL></I><SMALL></SMALL>. F<SMALL>OR</SMALL> <SMALL>VALUE</SMALL> <SMALL>RECEIVED</SMALL>, M<SMALL>AKER</SMALL> <SMALL>PROMISES</SMALL> <SMALL>TO</SMALL> <SMALL>PAY</SMALL> <SMALL>TO</SMALL> <SMALL>THE</SMALL> <SMALL>ORDER</SMALL>
<SMALL>OF</SMALL> H<SMALL>OLDER</SMALL> <SMALL>THE</SMALL> <SMALL>PRINCIPAL</SMALL> <SMALL>SUM</SMALL> <SMALL>OF</SMALL> <SMALL>TWO</SMALL> <SMALL>MILLION</SMALL> <SMALL>ONE</SMALL> <SMALL>HUNDRED</SMALL> <SMALL>TWENTY</SMALL> <SMALL>FIVE</SMALL>
<SMALL>THOUSAND</SMALL> <SMALL>DOLLARS</SMALL> (U.S.$2,125,000.00) (<SMALL>THE</SMALL> &#147;P<SMALL>RINCIPAL</SMALL> A<SMALL>MOUNT</SMALL>&#148;) <SMALL>TOGETHER</SMALL> <SMALL>WITH</SMALL> <SMALL>INTEREST</SMALL> <SMALL>ON</SMALL>
<SMALL>THE</SMALL> <SMALL>UNPAID</SMALL> P<SMALL>RINCIPAL</SMALL> A<SMALL>MOUNT</SMALL> <SMALL>FROM</SMALL> <SMALL>TIME</SMALL> <SMALL>TO</SMALL> <SMALL>TIME</SMALL> <SMALL>OUTSTANDING</SMALL> <SMALL>AT</SMALL> <SMALL>THE</SMALL> <SMALL>RATE</SMALL>
<SMALL>OF</SMALL> <SMALL>SEVEN</SMALL> <SMALL>PERCENT</SMALL> (7%) <SMALL>PER</SMALL> <SMALL>ANNUM</SMALL>, <SMALL>SUBJECT</SMALL> <SMALL>TO</SMALL> <SMALL>THE</SMALL> <SMALL>TERMS</SMALL> <SMALL>OF</SMALL> S<SMALL>ECTION</SMALL> 2(<SMALL>A</SMALL>)
<SMALL>OF</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL>. I<SMALL>NTEREST</SMALL>, <SMALL>BASED</SMALL> <SMALL>ON</SMALL> <SMALL>A</SMALL> 365-<SMALL>DAY</SMALL> <SMALL>CALENDAR</SMALL> <SMALL>YEAR</SMALL>, <SMALL>SHALL</SMALL> <SMALL>BE</SMALL>
<SMALL>ACCRUED</SMALL> <SMALL>FOR</SMALL> <SMALL>THE</SMALL> <SMALL>NUMBER</SMALL> <SMALL>OF</SMALL> <SMALL>DAYS</SMALL> <SMALL>THE</SMALL> P<SMALL>RINCIPAL</SMALL> A<SMALL>MOUNT</SMALL> (<SMALL>OR</SMALL> <SMALL>ANY</SMALL> <SMALL>PORTION</SMALL>
<SMALL>THEREOF</SMALL>) <SMALL>IS</SMALL> <SMALL>ACTUALLY</SMALL> <SMALL>OUTSTANDING</SMALL> <SMALL>BEGINNING</SMALL> <SMALL>AS</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> E<SMALL>FFECTIVE</SMALL> D<SMALL>ATE</SMALL>. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ARTICLE XIII.<I> P<SMALL>AYMENT</SMALL>.</I> T<SMALL>HE</SMALL>
P<SMALL>RINCIPAL</SMALL> A<SMALL>MOUNT</SMALL> <SMALL>AND</SMALL> <SMALL>ALL</SMALL> <SMALL>ACCRUED</SMALL> <SMALL>INTEREST</SMALL> <SMALL>THEREON</SMALL> <SMALL>SHALL</SMALL> <SMALL>BE</SMALL> <SMALL>PAID</SMALL> <SMALL>AS</SMALL>
<SMALL>FOLLOWS</SMALL>: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) Payment of the
Principal Amount shall be due in full eighteen (18) months after the Effective Date (the &#147;Payment Date&#148;). Payment of the Principal Amount may be deferred for an additional twelve (12) months upon thirty (30) days prior written notice to
Holder that Buyer&#146;s financial condition prevents repayment of this Note as scheduled. Payments of the Principal Amount so deferred shall bear interest at a rate of nine percent (9%) per annum from the Payment Date until final payment is made,
and interest on such Principal Amount shall be paid as provided in Section 2(b) below. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) Accrued interest shall be paid in quarterly installments in arrears, with the first such installment paid on the first day of January,
2005 and subsequent installments being paid on the first day of each April, July, October and January until paid, with the final installment being paid upon payment in full of the Principal Amount. Accrued but unpaid interest shall bear interest at
the rate of seven percent (7%) per annum (the &#147;Default Interest Rate&#148;). At its option, Maker may defer any of the interest payments due January 1, 2005 and April 1, 2005, but interest shall accrue on such unpaid interest at the Default
Interest Rate. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">All amounts payable hereunder are payable in
lawful money of the United States of America. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ARTICLE XIV.<I> S<SMALL>UBORDINATION</SMALL>.</I> T<SMALL>HE</SMALL> <SMALL>INDEBTEDNESS</SMALL>
<SMALL>EVIDENCED</SMALL> <SMALL>BY</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL> <SMALL>IS</SMALL> <SMALL>HEREBY</SMALL> <SMALL>SUBORDINATED</SMALL> <SMALL>IN</SMALL> <SMALL>RIGHT</SMALL> <SMALL>OF</SMALL> <SMALL>PAYMENT</SMALL> <SMALL>TO</SMALL>
M<SMALL>AKER</SMALL>&#146;<SMALL>S</SMALL> <SMALL>INDEBTEDNESS</SMALL> <SMALL>UNDER</SMALL> <SMALL>THE</SMALL> <SMALL>AGREEMENTS</SMALL> <SMALL>SET</SMALL> <SMALL>FORTH</SMALL> <SMALL>ON</SMALL> E<SMALL>XHIBIT</SMALL> A <SMALL>TO</SMALL>
<SMALL>THE</SMALL> L<SMALL>ENDERS</SMALL> <SMALL>INCURRED</SMALL> <SMALL>ON</SMALL> <SMALL>OR</SMALL> <SMALL>PRIOR</SMALL> <SMALL>TO</SMALL> <SMALL>THE</SMALL> E<SMALL>FFECTIVE</SMALL> D<SMALL>ATE</SMALL>. E<SMALL>XCEPT</SMALL> <SMALL>AS</SMALL>
<SMALL>OTHERWISE</SMALL> <SMALL>PROVIDED</SMALL> <SMALL>IN</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL> <SMALL>OR</SMALL> <SMALL>IN</SMALL> <SMALL>THE</SMALL> S<SMALL>UBORDINATION</SMALL> A<SMALL>GREEMENT</SMALL>, M<SMALL>AKER</SMALL>
<SMALL>MAY</SMALL>, <SMALL>AND</SMALL> <SMALL>SHALL</SMALL>, <SMALL>MAKE</SMALL> <SMALL>THE</SMALL> <SMALL>PAYMENTS</SMALL> <SMALL>OF</SMALL> <SMALL>PRINCIPAL</SMALL> <SMALL>AND</SMALL> <SMALL>INTEREST</SMALL> <SMALL>TO</SMALL>
H<SMALL>OLDER</SMALL>, <SMALL>AND</SMALL> <SMALL>ANY</SMALL> <SMALL>OTHER</SMALL> <SMALL>AMOUNTS</SMALL> <SMALL>DUE</SMALL> <SMALL>TO</SMALL> H<SMALL>OLDER</SMALL> <SMALL>HEREUNDER</SMALL>, <SMALL>AT</SMALL> <SMALL>THE</SMALL> <SMALL>TIMES</SMALL>
<SMALL>PROVIDED</SMALL> <SMALL>IN</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">ARTICLE XV.<I> P<SMALL>REPAYMENT</SMALL>.</I> M<SMALL>AKER</SMALL> <SMALL>MAY</SMALL> <SMALL>PREPAY</SMALL> <SMALL>ALL</SMALL> <SMALL>OR</SMALL> <SMALL>ANY</SMALL> <SMALL>PORTION</SMALL> <SMALL>OF</SMALL>
<SMALL>THE</SMALL> P<SMALL>RINCIPAL</SMALL> A<SMALL>MOUNT</SMALL> <SMALL>AND</SMALL> <SMALL>ACCRUED</SMALL> <SMALL>INTEREST</SMALL> <SMALL>FROM</SMALL> <SMALL>TIME</SMALL> <SMALL>TO</SMALL> <SMALL>TIME</SMALL> <SMALL>WITHOUT</SMALL>
<SMALL>PENALTY</SMALL>. A<SMALL>NY</SMALL> <SMALL>PARTIAL</SMALL> <SMALL>PREPAYMENT</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> P<SMALL>RINCIPAL</SMALL> A<SMALL>MOUNT</SMALL> <SMALL>SHALL</SMALL> <SMALL>NOT</SMALL> <SMALL>POSTPONE</SMALL>
<SMALL>THE</SMALL> <SMALL>DUE</SMALL> <SMALL>DATE</SMALL> <SMALL>OF</SMALL> <SMALL>ANY</SMALL> <SMALL>SUBSEQUENT</SMALL> <SMALL>PAYMENT</SMALL> <SMALL>OF</SMALL> <SMALL>ACCRUED</SMALL> <SMALL>INTEREST</SMALL> <SMALL>OR</SMALL> <SMALL>THE</SMALL>
P<SMALL>RINCIPAL</SMALL> A<SMALL>MOUNT</SMALL>. T<SMALL>HE</SMALL> <SMALL>PRIVILEGE</SMALL> <SMALL>TO</SMALL> <SMALL>PREPAY</SMALL> <SMALL>ALL</SMALL> <SMALL>OR</SMALL> <SMALL>ANY</SMALL> <SMALL>PART</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL>
P<SMALL>RINCIPAL</SMALL> A<SMALL>MOUNT</SMALL> <SMALL>FROM</SMALL> <SMALL>TIME</SMALL> <SMALL>TO</SMALL> <SMALL>TIME</SMALL> <SMALL>WITHOUT</SMALL> <SMALL>PENALTY</SMALL> <SMALL>IS</SMALL> <SMALL>HEREBY</SMALL> <SMALL>RESERVED</SMALL>
<SMALL>TO</SMALL> M<SMALL>AKER</SMALL>, <SMALL>PROVIDED</SMALL> <SMALL>THAT</SMALL> <SMALL>ANY</SMALL> <SMALL>SUCH</SMALL> P<SMALL>RINCIPAL</SMALL> A<SMALL>MOUNT</SMALL> <SMALL>PREPAYMENT</SMALL> <SMALL>SHALL</SMALL> <SMALL>BE</SMALL>
<SMALL>ACCOMPANIED</SMALL> <SMALL>BY</SMALL> <SMALL>ALL</SMALL> <SMALL>INTEREST</SMALL> <SMALL>THEN</SMALL> <SMALL>ACCRUED</SMALL>, <SMALL>IF</SMALL> <SMALL>ANY</SMALL>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ARTICLE XVI.<I> E<SMALL>VENT</SMALL> <SMALL>OF</SMALL> D<SMALL>EFAULT</SMALL> <SMALL>AND</SMALL> R<SMALL>IGHT</SMALL>
<SMALL>TO</SMALL> C<SMALL>URE</SMALL>.</I> A<SMALL>T</SMALL> <SMALL>THE</SMALL> <SMALL>OPTION</SMALL> <SMALL>OF</SMALL> H<SMALL>OLDER</SMALL>, <SMALL>THE</SMALL> <SMALL>ENTIRE</SMALL> <SMALL>UNPAID</SMALL> P<SMALL>RINCIPAL</SMALL>
A<SMALL>MOUNT</SMALL> <SMALL>AND</SMALL> <SMALL>ALL</SMALL> <SMALL>ACCRUED</SMALL> <SMALL>INTEREST</SMALL>, <SMALL>IF</SMALL> <SMALL>ANY</SMALL>, <SMALL>SHALL</SMALL> <SMALL>BECOME</SMALL> <SMALL>IMMEDIATELY</SMALL> <SMALL>DUE</SMALL>
<SMALL>AND</SMALL> <SMALL>PAYABLE</SMALL>, <SMALL>WITHOUT</SMALL> <SMALL>NOTICE</SMALL> <SMALL>OR</SMALL> <SMALL>DEMAND</SMALL> (<SMALL>EXCEPT</SMALL> <SMALL>AS</SMALL> <SMALL>PROVIDED</SMALL> <SMALL>BELOW</SMALL>), <SMALL>IF</SMALL>
M<SMALL>AKER</SMALL> (A) <SMALL>COMMENCES</SMALL> <SMALL>ANY</SMALL> <SMALL>CASE</SMALL>, <SMALL>PROCEEDING</SMALL>, <SMALL>OR</SMALL> <SMALL>OTHER</SMALL> <SMALL>ACTION</SMALL> <SMALL>SEEKING</SMALL> <SMALL>TO</SMALL> <SMALL>ADJUDICATE</SMALL>
M<SMALL>AKER</SMALL> <SMALL>AS</SMALL> <SMALL>BANKRUPT</SMALL> <SMALL>OR</SMALL> <SMALL>INSOLVENT</SMALL>, <SMALL>OR</SMALL> <SMALL>SEEKING</SMALL> <SMALL>LIQUIDATION</SMALL> <SMALL>OR</SMALL> <SMALL>DISSOLUTION</SMALL> <SMALL>UNDER</SMALL>
<SMALL>ANY</SMALL> <SMALL>LAW</SMALL> <SMALL>RELATING</SMALL> <SMALL>TO</SMALL> <SMALL>BANKRUPTCY</SMALL>, <SMALL>INSOLVENCY</SMALL>, <SMALL>REORGANIZATION</SMALL>, <SMALL>OR</SMALL> <SMALL>RELIEF</SMALL> <SMALL>OF</SMALL> <SMALL>DEBTORS</SMALL>
<SMALL>OR</SMALL> <SMALL>SEEKING</SMALL> <SMALL>APPOINTMENT</SMALL> <SMALL>OF</SMALL> <SMALL>A</SMALL> <SMALL>RECEIVER</SMALL>, <SMALL>TRUSTEE</SMALL>, <SMALL>CUSTODIAN</SMALL>, <SMALL>OR</SMALL> <SMALL>OTHER</SMALL> <SMALL>SIMILAR</SMALL>
<SMALL>FIDUCIARY</SMALL>, <SMALL>WITH</SMALL> <SMALL>RESPECT</SMALL> <SMALL>TO</SMALL> <SMALL>ANY</SMALL> <SMALL>PART</SMALL> <SMALL>OF</SMALL> M<SMALL>AKER</SMALL>&#146;<SMALL>S</SMALL> <SMALL>BUSINESS</SMALL>, <SMALL>OR</SMALL> (<SMALL>B</SMALL>)
<SMALL>FAILS</SMALL> <SMALL>TO</SMALL> <SMALL>MAKE</SMALL> <SMALL>ANY</SMALL> <SMALL>PAYMENT</SMALL> <SMALL>REQUIRED</SMALL> <SMALL>UNDER</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL> <SMALL>WHEN</SMALL> <SMALL>DUE</SMALL>
(<SMALL>SUBSECTIONS</SMALL> (<SMALL>A</SMALL>) <SMALL>AND</SMALL> (<SMALL>B</SMALL>), <SMALL>EACH</SMALL> <SMALL>AN</SMALL> &#147;E<SMALL>VENT</SMALL> <SMALL>OF</SMALL> D<SMALL>EFAULT</SMALL>&#148;); <I><SMALL>PROVIDED</SMALL>
<SMALL>HOWEVER</SMALL></I><SMALL></SMALL>, <SMALL>THAT</SMALL> H<SMALL>OLDER</SMALL> <SMALL>SHALL</SMALL> <SMALL>PROVIDE</SMALL> M<SMALL>AKER</SMALL> <SMALL>WITH</SMALL> <SMALL>WRITTEN</SMALL> <SMALL>NOTICE</SMALL> <SMALL>OF</SMALL>
<SMALL>ANY</SMALL> <SMALL>MISSED</SMALL> <SMALL>PAYMENT</SMALL> <SMALL>UNDER</SMALL> <SMALL>SUBSECTION</SMALL> (<SMALL>B</SMALL>) <SMALL>ABOVE</SMALL>, <SMALL>AND</SMALL> M<SMALL>AKER</SMALL> <SMALL>SHALL</SMALL> <SMALL>HAVE</SMALL>
<SMALL>FIVE</SMALL> (5) <SMALL>BUSINESS</SMALL> <SMALL>DAYS</SMALL> <SMALL>FROM</SMALL> <SMALL>THE</SMALL> <SMALL>DATE</SMALL> <SMALL>OF</SMALL> <SMALL>SUCH</SMALL> <SMALL>NOTICE</SMALL> <SMALL>TO</SMALL> <SMALL>CURE</SMALL> <SMALL>ANY</SMALL>
<SMALL>MISSED</SMALL> <SMALL>PAYMENT</SMALL> <SMALL>BEFORE</SMALL> <SMALL>ANY</SMALL> <SMALL>ACCELERATION</SMALL> <SMALL>BY</SMALL> H<SMALL>OLDER</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> <SMALL>UNPAID</SMALL> P<SMALL>RINCIPAL</SMALL>
A<SMALL>MOUNT</SMALL> <SMALL>AND</SMALL> <SMALL>ACCRUED</SMALL> <SMALL>INTEREST</SMALL>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">ARTICLE XVII.<I> C<SMALL>OSTS</SMALL> <SMALL>AND</SMALL> E<SMALL>XPENSES</SMALL>.</I> M<SMALL>AKER</SMALL> <SMALL>HEREBY</SMALL> <SMALL>AGREES</SMALL> <SMALL>TO</SMALL> <SMALL>PAY</SMALL> <SMALL>REASONABLE</SMALL>
<SMALL>ATTORNEYS</SMALL>&#146; <SMALL>FEES</SMALL> <SMALL>OF</SMALL> H<SMALL>OLDER</SMALL> <SMALL>AND</SMALL> <SMALL>ALL</SMALL> <SMALL>OTHER</SMALL> <SMALL>REASONABLE</SMALL> <SMALL>COSTS</SMALL> <SMALL>AND</SMALL> <SMALL>EXPENSES</SMALL>
<SMALL>OF</SMALL> H<SMALL>OLDER</SMALL> <SMALL>INCURRED</SMALL>, <SMALL>AFTER</SMALL> <SMALL>AN</SMALL> E<SMALL>VENT</SMALL> <SMALL>OF</SMALL> D<SMALL>EFAULT</SMALL>, <SMALL>IN</SMALL> <SMALL>THE</SMALL> <SMALL>ENFORCEMENT</SMALL> <SMALL>OF</SMALL>
<SMALL>THIS</SMALL> N<SMALL>OTE</SMALL>, <SMALL>AND</SMALL> <SMALL>THE</SMALL> <SMALL>COLLECTION</SMALL> <SMALL>OF</SMALL> <SMALL>AMOUNTS</SMALL> <SMALL>DUE</SMALL> <SMALL>HEREUNDER</SMALL> <SMALL>OR</SMALL> <SMALL>THEREUNDER</SMALL>,
<SMALL>WHETHER</SMALL> <SMALL>SUCH</SMALL> <SMALL>ENFORCEMENT</SMALL> <SMALL>OR</SMALL> <SMALL>COLLECTION</SMALL> <SMALL>IS</SMALL> <SMALL>BY</SMALL> <SMALL>COURT</SMALL> <SMALL>ACTION</SMALL> <SMALL>OR</SMALL> <SMALL>OTHERWISE</SMALL>. </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ARTICLE XVIII.<I> S<SMALL>EVERABILITY</SMALL>.</I> A<SMALL>NY</SMALL>
<SMALL>PROVISION</SMALL> <SMALL>OF</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL> <SMALL>THAT</SMALL> <SMALL>IS</SMALL> <SMALL>PROHIBITED</SMALL> <SMALL>OR</SMALL> <SMALL>UNENFORCEABLE</SMALL> <SMALL>IN</SMALL> <SMALL>ANY</SMALL>
<SMALL>JURISDICTION</SMALL> <SMALL>SHALL</SMALL>, <SMALL>AS</SMALL> <SMALL>TO</SMALL> <SMALL>SUCH</SMALL> <SMALL>JURISDICTION</SMALL>, <SMALL>BE</SMALL> <SMALL>INEFFECTIVE</SMALL> <SMALL>TO</SMALL> <SMALL>THE</SMALL> <SMALL>EXTENT</SMALL>
<SMALL>OF</SMALL> <SMALL>SUCH</SMALL> <SMALL>PROHIBITION</SMALL> <SMALL>OR</SMALL> <SMALL>UNENFORCEABILITY</SMALL> <SMALL>WITHOUT</SMALL> <SMALL>INVALIDATING</SMALL> <SMALL>THE</SMALL> <SMALL>REMAINING</SMALL> <SMALL>PROVISIONS</SMALL>
<SMALL>HEREOF</SMALL>, <SMALL>AND</SMALL> <SMALL>ANY</SMALL> <SMALL>SUCH</SMALL> <SMALL>PROHIBITION</SMALL> <SMALL>OR</SMALL> <SMALL>UNENFORCEABILITY</SMALL> </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">3 </FONT></P>


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<FONT FACE="Times New Roman" SIZE="2"><SMALL>IN</SMALL> <SMALL>ANY</SMALL> <SMALL>JURISDICTION</SMALL> <SMALL>SHALL</SMALL> <SMALL>NOT</SMALL> <SMALL>INVALIDATE</SMALL> <SMALL>OR</SMALL>
<SMALL>RENDER</SMALL> <SMALL>UNENFORCEABLE</SMALL> <SMALL>SUCH</SMALL> <SMALL>PROVISION</SMALL> <SMALL>IN</SMALL> <SMALL>ANY</SMALL> <SMALL>OTHER</SMALL> <SMALL>JURISDICTION</SMALL>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ARTICLE XIX. <U>G<SMALL>OVERNING</SMALL></U><SMALL><U></U></SMALL><U> L<SMALL>AW</SMALL></U><SMALL></SMALL>.
T<SMALL>HIS</SMALL> N<SMALL>OTE</SMALL> <SMALL>SHALL</SMALL> <SMALL>BE</SMALL> <SMALL>GOVERNED</SMALL> <SMALL>BY</SMALL> <SMALL>AND</SMALL> <SMALL>CONSTRUED</SMALL> <SMALL>IN</SMALL> <SMALL>ACCORDANCE</SMALL> <SMALL>WITH</SMALL> <SMALL>THE</SMALL>
<SMALL>LAWS</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> S<SMALL>TATE</SMALL> <SMALL>OF</SMALL> D<SMALL>ELAWARE</SMALL>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ARTICLE XX. <I><U>C<SMALL>ONSENT</SMALL> <SMALL>TO</SMALL> J<SMALL>URISDICTION</SMALL> <SMALL>AND</SMALL> S<SMALL>ERVICE</SMALL> <SMALL>OF</SMALL>
P<SMALL>ROCESS</SMALL></U><SMALL></SMALL>. </I><I></I>E<SMALL>ACH<I></I></SMALL><I> </I><SMALL>OF</SMALL> M<SMALL>AKER</SMALL> <SMALL>AND</SMALL> H<SMALL>OLDER<I></I></SMALL> <SMALL>CONSENTS</SMALL> <SMALL>TO</SMALL> <SMALL>THE</SMALL>
<SMALL>EXCLUSIVE</SMALL> <SMALL>JURISDICTION</SMALL> <SMALL>OF</SMALL> <SMALL>ANY</SMALL> <SMALL>STATE</SMALL> <SMALL>OR</SMALL> <SMALL>FEDERAL</SMALL> <SMALL>COURT</SMALL> <SMALL>LOCATED</SMALL> <SMALL>WITHIN</SMALL> <SMALL>THE</SMALL>
<SMALL>COUNTY</SMALL> <SMALL>OF</SMALL> O<SMALL>KLAHOMA</SMALL> <SMALL>IN</SMALL> <SMALL>THE</SMALL> <SMALL>STATE</SMALL> <SMALL>OF</SMALL> O<SMALL>KLAHOMA</SMALL> <SMALL>AND</SMALL> <SMALL>IRREVOCABLY</SMALL> <SMALL>AGREES</SMALL>
<SMALL>THAT</SMALL> <SMALL>ALL</SMALL> <SMALL>ACTIONS</SMALL> <SMALL>OR</SMALL> <SMALL>PROCEEDINGS</SMALL> <SMALL>RELATING</SMALL> <SMALL>TO</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL> <SMALL>MAY</SMALL> <SMALL>BE</SMALL>
<SMALL>LITIGATED</SMALL> <SMALL>IN</SMALL> <SMALL>SUCH</SMALL> <SMALL>COURTS</SMALL>. E<SMALL>ACH</SMALL> <SMALL>OF</SMALL> M<SMALL>AKER</SMALL> <SMALL>AND</SMALL> H<SMALL>OLDER</SMALL> <SMALL>ACCEPTS</SMALL> <SMALL>FOR</SMALL> <SMALL>ITSELF</SMALL>
<SMALL>AND</SMALL> <SMALL>IN</SMALL> <SMALL>CONNECTION</SMALL> <SMALL>WITH</SMALL> <SMALL>ITS</SMALL> <SMALL>PROPERTIES</SMALL>, <SMALL>GENERALLY</SMALL> <SMALL>AND</SMALL> <SMALL>UNCONDITIONALLY</SMALL>, <SMALL>THE</SMALL>
<SMALL>JURISDICTION</SMALL> <SMALL>OF</SMALL> <SMALL>SUCH</SMALL> <SMALL>COURTS</SMALL> <SMALL>AND</SMALL> <SMALL>WAIVES</SMALL> <SMALL>ANY</SMALL> <SMALL>DEFENSE</SMALL> <SMALL>OF</SMALL> <SMALL>FORUM</SMALL> <SMALL>NON</SMALL>
<SMALL>CONVENIENS</SMALL>, <SMALL>AND</SMALL> <SMALL>IRREVOCABLY</SMALL> <SMALL>AGREES</SMALL> <SMALL>TO</SMALL> <SMALL>BE</SMALL> <SMALL>BOUND</SMALL> <SMALL>BY</SMALL> <SMALL>ANY</SMALL> <SMALL>JUDGMENT</SMALL> <SMALL>RENDERED</SMALL>
<SMALL>THEREBY</SMALL> <SMALL>IN</SMALL> <SMALL>CONNECTION</SMALL> <SMALL>WITH</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL>. E<SMALL>ACH</SMALL> <SMALL>OF</SMALL> M<SMALL>AKER</SMALL> <SMALL>AND</SMALL> H<SMALL>OLDER</SMALL>
<SMALL>IRREVOCABLY</SMALL> <SMALL>CONSENTS</SMALL> <SMALL>TO</SMALL> <SMALL>THE</SMALL> <SMALL>SERVICE</SMALL> <SMALL>OF</SMALL> <SMALL>PROCESS</SMALL> <SMALL>OUT</SMALL> <SMALL>OF</SMALL> <SMALL>ANY</SMALL> <SMALL>OF</SMALL> <SMALL>SUCH</SMALL>
<SMALL>COURTS</SMALL> <SMALL>IN</SMALL> <SMALL>ANY</SMALL> <SMALL>SUCH</SMALL> <SMALL>ACTION</SMALL> <SMALL>OR</SMALL> <SMALL>PROCEEDING</SMALL> <SMALL>BY</SMALL> <SMALL>THE</SMALL> <SMALL>MAILING</SMALL> <SMALL>OF</SMALL> <SMALL>COPIES</SMALL>
<SMALL>THEREOF</SMALL> <SMALL>BY</SMALL> <SMALL>REGISTERED</SMALL> <SMALL>OR</SMALL> <SMALL>CERTIFIED</SMALL> <SMALL>MAIL</SMALL>, <SMALL>POSTAGE</SMALL> <SMALL>PREPAID</SMALL>, <SMALL>TO</SMALL> <SMALL>SUCH</SMALL> <SMALL>PARTY</SMALL>
<SMALL>AT</SMALL> <SMALL>THE</SMALL> <SMALL>ADDRESS</SMALL> <SMALL>SPECIFIED</SMALL> <SMALL>IN</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL>, <SMALL>SUCH</SMALL> <SMALL>SERVICE</SMALL> <SMALL>TO</SMALL> <SMALL>BECOME</SMALL>
<SMALL>EFFECTIVE</SMALL> 15 <SMALL>CALENDAR</SMALL> <SMALL>DAYS</SMALL> <SMALL>AFTER</SMALL> <SMALL>SUCH</SMALL> <SMALL>MAILING</SMALL>. N<SMALL>OTHING</SMALL> <SMALL>HEREIN</SMALL> <SMALL>SHALL</SMALL> <SMALL>IN</SMALL> <SMALL>ANY</SMALL>
<SMALL>WAY</SMALL> <SMALL>BE</SMALL> <SMALL>DEEMED</SMALL> <SMALL>TO</SMALL> <SMALL>LIMIT</SMALL> <SMALL>THE</SMALL> <SMALL>ABILITY</SMALL> <SMALL>OF</SMALL> <SMALL>EITHER</SMALL> <SMALL>PARTY</SMALL> <SMALL>HERETO</SMALL> <SMALL>TO</SMALL>
<SMALL>SERVE</SMALL> <SMALL>ANY</SMALL> <SMALL>SUCH</SMALL> <SMALL>LEGAL</SMALL> <SMALL>PROCESS</SMALL>, <SMALL>SUMMONS</SMALL>, <SMALL>NOTICES</SMALL> <SMALL>AND</SMALL> <SMALL>DOCUMENTS</SMALL> <SMALL>IN</SMALL> <SMALL>ANY</SMALL>
<SMALL>OTHER</SMALL> <SMALL>MANNER</SMALL> <SMALL>PERMITTED</SMALL> <SMALL>BY</SMALL> <SMALL>APPLICABLE</SMALL> <SMALL>LAW</SMALL>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ARTICLE XXI.<I> W<SMALL>AIVERS</SMALL>. </I>M<SMALL>AKER</SMALL> <SMALL>WAIVES</SMALL> <SMALL>DEMAND</SMALL> <SMALL>FOR</SMALL> <SMALL>PAYMENT</SMALL>,
<SMALL>PRESENTMENT</SMALL> <SMALL>FOR</SMALL> <SMALL>PAYMENT</SMALL>, <SMALL>NOTICE</SMALL> <SMALL>OF</SMALL> <SMALL>NONPAYMENT</SMALL> <SMALL>OR</SMALL> <SMALL>DISHONOR</SMALL>, <SMALL>PROTEST</SMALL> <SMALL>AND</SMALL> <SMALL>NOTICE</SMALL>
<SMALL>OF</SMALL> <SMALL>PROTEST</SMALL>. N<SMALL>O</SMALL> <SMALL>RENEWAL</SMALL> <SMALL>OR</SMALL> <SMALL>EXTENSION</SMALL> <SMALL>OF</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL>, <SMALL>NO</SMALL> <SMALL>DELAY</SMALL> <SMALL>IN</SMALL>
<SMALL>THE</SMALL> <SMALL>ENFORCEMENT</SMALL> <SMALL>HEREOF</SMALL>, <SMALL>AND</SMALL> <SMALL>NO</SMALL> <SMALL>DELAY</SMALL> <SMALL>OR</SMALL> <SMALL>OMISSION</SMALL> <SMALL>IN</SMALL> <SMALL>EXERCISING</SMALL> <SMALL>ANY</SMALL>
<SMALL>RIGHT</SMALL> <SMALL>OR</SMALL> <SMALL>POWER</SMALL> <SMALL>HEREUNDER</SMALL>, <SMALL>SHALL</SMALL> <SMALL>AFFECT</SMALL> <SMALL>THE</SMALL> <SMALL>LIABILITY</SMALL> <SMALL>OF</SMALL> M<SMALL>AKER</SMALL>. N<SMALL>O</SMALL>
<SMALL>DELAY</SMALL> <SMALL>OR</SMALL> <SMALL>OMISSION</SMALL> <SMALL>BY</SMALL> H<SMALL>OLDER</SMALL> <SMALL>IN</SMALL> <SMALL>EXERCISING</SMALL> <SMALL>ANY</SMALL> <SMALL>POWER</SMALL> <SMALL>OR</SMALL> <SMALL>RIGHT</SMALL>
<SMALL>HEREUNDER</SMALL> <SMALL>SHALL</SMALL> <SMALL>IMPAIR</SMALL> <SMALL>SUCH</SMALL> <SMALL>RIGHT</SMALL> <SMALL>OR</SMALL> <SMALL>POWER</SMALL> <SMALL>OR</SMALL> <SMALL>BE</SMALL> <SMALL>CONSTRUED</SMALL> <SMALL>TO</SMALL> <SMALL>BE</SMALL>
<SMALL>A</SMALL> <SMALL>WAIVER</SMALL> <SMALL>OF</SMALL> <SMALL>ANY</SMALL> <SMALL>DEFAULT</SMALL>, <SMALL>NOR</SMALL> <SMALL>SHALL</SMALL> <SMALL>ANY</SMALL> <SMALL>SINGLE</SMALL> <SMALL>OR</SMALL> <SMALL>PARTIAL</SMALL> <SMALL>EXERCISE</SMALL>
<SMALL>OF</SMALL> <SMALL>ANY</SMALL> <SMALL>POWER</SMALL> <SMALL>OR</SMALL> <SMALL>RIGHT</SMALL> <SMALL>HEREUNDER</SMALL> <SMALL>PRECLUDE</SMALL> <SMALL>ANY</SMALL> <SMALL>OR</SMALL> <SMALL>FULL</SMALL> <SMALL>EXERCISE</SMALL> <SMALL>THEREOF</SMALL>
<SMALL>OR</SMALL> <SMALL>THE</SMALL> <SMALL>EXERCISE</SMALL> <SMALL>OF</SMALL> <SMALL>ANY</SMALL> <SMALL>OTHER</SMALL> <SMALL>RIGHT</SMALL> <SMALL>OR</SMALL> <SMALL>POWER</SMALL>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ARTICLE XXII.<I> N<SMALL>OTICES</SMALL>.</I> A<SMALL>LL</SMALL> <SMALL>NOTICES</SMALL> <SMALL>OR</SMALL>
<SMALL>OTHER</SMALL> <SMALL>COMMUNICATIONS</SMALL> <SMALL>WHICH</SMALL> <SMALL>ARE</SMALL> <SMALL>REQUIRED</SMALL> <SMALL>OR</SMALL> <SMALL>PERMITTED</SMALL> <SMALL>TO</SMALL> <SMALL>BE</SMALL> <SMALL>GIVEN</SMALL> <SMALL>TO</SMALL>
<SMALL>THE</SMALL> <SMALL>PARTIES</SMALL> <SMALL>UNDER</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL> <SMALL>SHALL</SMALL> <SMALL>BE</SMALL> <SMALL>SUFFICIENT</SMALL> <SMALL>IN</SMALL> <SMALL>ALL</SMALL> <SMALL>RESPECTS</SMALL> <SMALL>IF</SMALL>
<SMALL>GIVEN</SMALL> <SMALL>IN</SMALL> <SMALL>WRITING</SMALL> <SMALL>AND</SMALL> <SMALL>DELIVERED</SMALL> <SMALL>IN</SMALL> <SMALL>PERSON</SMALL>, <SMALL>BY</SMALL> <SMALL>FACSIMILE</SMALL>, <SMALL>BY</SMALL> <SMALL>OVERNIGHT</SMALL>
<SMALL>COURIER</SMALL>, <SMALL>OR</SMALL> <SMALL>BY</SMALL> <SMALL>CERTIFIED</SMALL> <SMALL>MAIL</SMALL>, <SMALL>POSTAGE</SMALL> <SMALL>PREPAID</SMALL>, <SMALL>RETURN</SMALL> <SMALL>RECEIPT</SMALL> <SMALL>REQUESTED</SMALL>, <SMALL>TO</SMALL>
<SMALL>THE</SMALL> <SMALL>RECEIVING</SMALL> <SMALL>PARTY</SMALL> <SMALL>AT</SMALL> <SMALL>THE</SMALL> <SMALL>FOLLOWING</SMALL> <SMALL>ADDRESS</SMALL>: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Holder:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Uponor Aldyl Company, Inc.</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">c/o Uponor North America, Inc.</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">14985 Glazier Avenue, Suite 303</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Apple Valley, MN 55124</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
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<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Attention: Jyri Luomakoski, Chairman</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Facsimile No.: 952-997-8999</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">4 </FONT></P>


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<TD WIDTH="91%"></TD></TR>
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<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Maker:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">PW Poly Corp.</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">1933 West Second Street</FONT></TD></TR>
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<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Hastings, NE 68901</FONT></TD></TR>
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<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Attention: Richard Oxley</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Facsimile No.: 402-462-6028</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Each Notice shall be
deemed given when received by the party to whom it is addressed. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2">ARTICLE XXIII.<I> A<SMALL>MENDMENT</SMALL></I><SMALL></SMALL>. T<SMALL>HIS</SMALL> N<SMALL>OTE</SMALL> <SMALL>MAY</SMALL> <SMALL>ONLY</SMALL> <SMALL>BE</SMALL> <SMALL>AMENDED</SMALL> <SMALL>WITH</SMALL> <SMALL>THE</SMALL>
<SMALL>WRITTEN</SMALL> <SMALL>CONSENT</SMALL> <SMALL>OF</SMALL> M<SMALL>AKER</SMALL> <SMALL>AND</SMALL> H<SMALL>OLDER</SMALL>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">ARTICLE XXIV.<I> P<SMALL>ARTIES</SMALL> <SMALL>IN</SMALL> I<SMALL>NTEREST</SMALL>; A<SMALL>SSIGNMENT</SMALL>.</I> M<SMALL>AKER</SMALL> <SMALL>MAY</SMALL>
<SMALL>NOT</SMALL> <SMALL>ASSIGN</SMALL> <SMALL>THIS</SMALL> N<SMALL>OTE</SMALL> <SMALL>TO</SMALL> <SMALL>A</SMALL> <SMALL>THIRD</SMALL> <SMALL>PARTY</SMALL> <SMALL>WITHOUT</SMALL> <SMALL>THE</SMALL> <SMALL>PRIOR</SMALL> <SMALL>WRITTEN</SMALL>
<SMALL>CONSENT</SMALL> <SMALL>OF</SMALL> H<SMALL>OLDER</SMALL>. T<SMALL>HIS</SMALL> N<SMALL>OTE</SMALL> <SMALL>SHALL</SMALL> <SMALL>BE</SMALL> <SMALL>BINDING</SMALL> <SMALL>UPON</SMALL> <SMALL>AND</SMALL> <SMALL>INURE</SMALL> <SMALL>TO</SMALL>
<SMALL>THE</SMALL> <SMALL>BENEFIT</SMALL> <SMALL>OF</SMALL> M<SMALL>AKER</SMALL> <SMALL>AND</SMALL> H<SMALL>OLDER</SMALL> <SMALL>AND</SMALL> <SMALL>THEIR</SMALL> <SMALL>RESPECTIVE</SMALL> <SMALL>SUCCESSORS</SMALL> <SMALL>AND</SMALL>
<SMALL>ASSIGNS</SMALL>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">* * * * </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">5 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">IN WITNESS WHEREOF, Maker has executed and caused this Note to be issued as of the Effective Date.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><DIV ALIGN="right">
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<TD WIDTH="92%"></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2"><B>MAKER:</B></FONT></P></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2"><B>PW POLY CORP.</B></FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">/s/ Dobson West</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Dobson West</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Secretary</FONT></P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">6 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><U>E<SMALL>XHIBIT</SMALL> A</U> </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><U>S<SMALL>UBORDINATED</SMALL> D<SMALL>EBT</SMALL></U><SMALL></SMALL> </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">1. Credit and Security Agreement dated as of October 1, 2003 with Wells Fargo
Business Credit Inc., as amended. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">2. Loan Agreement dated
January 15, 2004 with Medallion Capital, Inc., as amended. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">7 </FONT></P>

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