PANERA BREAD CO
EX-10.2 FORM OF OPERATING AGREEMENT
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>c77483exv10w2.htm
<DESCRIPTION>EX-10.2 FORM OF OPERATING AGREEMENT
<TEXT>
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<TITLE>exv10w2</TITLE>
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<P align="right"><FONT size="2"><B>Exhibit&nbsp;10.2</B>
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<P align="center"><FONT size="2"><B>FORM OF<BR>
OPERATING AGREEMENT<BR>
FOR<BR>
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, LLC<BR>
A DELAWARE LIMITED LIABILITY COMPANY</B>
</FONT>

<P><FONT size="2">THE SECURITIES REPRESENTED BY THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 NOR REGISTERED NOR QUALIFIED UNDER ANY STATE SECURITIES
LAWS. SUCH SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE,
OR TRANSFERRED, UNLESS QUALIFIED AND REGISTERED UNDER APPLICABLE STATE AND
FEDERAL SECURITIES LAWS OR UNLESS, IN THE OPINION OF COUNSEL SATISFACTORY TO
THE COMPANY, SUCH QUALIFICATION AND REGISTRATION IS NOT REQUIRED. ANY TRANSFER
OF THE SECURITIES REPRESENTED BY THIS AGREEMENT IS FURTHER SUBJECT TO OTHER
RESTRICTIONS, TERMS AND CONDITIONS WHICH ARE SET FORTH HEREIN.

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<P align="center"><FONT size="2">&nbsp;</FONT>

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<P><HR noshade><P>
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<P align="center"><FONT size="2"><B>TABLE OF CONTENTS</B>
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="79%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Page</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top" colspan="3"><FONT size="2"><B>ARTICLE I - DEFINITIONS</B></FONT></TD>

    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">1</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Act&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">1</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Affiliate&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">1</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.3.</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Agreement&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">1</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.4.</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Asiago&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">1</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.5.</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Assignee&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">1</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.6</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Bakery-Cafe&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.7</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Bankruptcy&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.8</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Capital Account&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.9</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Capital Contribution&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.10</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Certificate&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.11</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Class&nbsp;A Member&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.12</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Class&nbsp;B Member&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.13</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Class&nbsp;B Member Employment Agreement&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.14</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Class&nbsp;C Member&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.15</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Class&nbsp;C Member Employment Agreement&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.16</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Company&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.17</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Company Minimum Gain&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">2</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.18.</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Code&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">3</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.19</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Competitive Activity&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">3</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.20</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Designated Bakery-Cafe&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">3</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.21</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Economic Interest&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">3</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.22</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Fiscal Year&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">3</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.23</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Gross Sales&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">3</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.24</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Management Fee
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">3</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.25</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Manager&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">3</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.26.</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Marks&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">3</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.27</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Member&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.28</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Member Nonrecourse Debt&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.29</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Member Nonrecourse Deductions&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.30</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Membership Interest&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.31</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Net Profits&#148; and &#147;Net Losses&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.32</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Nonrecourse Liability&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.33</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Panera&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.34</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Period&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.35</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Person&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.36</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Proprietary Information&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.37</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Regulations&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.38</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Sharing Percentage&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">4</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.39</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;System&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">5</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">1.40</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#147;Tax Matters Partner&#148;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">5</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD colspan="3" valign="top"><FONT size="2"><B>ARTICLE II - ORGANIZATIONAL MATTERS</B></FONT></TD>

    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">5</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">2.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Formation
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">5</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">2.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Name
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">5</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">2.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Term
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">5</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>


<P align="center"><FONT size="2">i</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="79%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">2.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Office and Agent
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">5</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">2.5</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Addresses of the Members and the Manager
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">5</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">2.6</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Purpose and Business of the Company
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">6</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD valign="top" colspan="3"><FONT size="2"><B>ARTICLE III - CAPITAL CONTRIBUTIONS</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">6</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">3.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Initial Capital Contributions
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">6</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
A. Class&nbsp;A Member
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">6</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
B. Class&nbsp;B Member
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">6</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
C. Class&nbsp;C Members
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">6</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">3.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Additional Capital Contributions
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">6</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
A. Class&nbsp;A Member
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">6</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
B. Class&nbsp;B Member
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">6</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
C. Class&nbsp;C Members
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">7</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
D. No Further Capital Contributions Required
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">7</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">3.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Capital Accounts
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">7</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">3.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
No Interest on Capital Contributions
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">7</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3" valign="top"><FONT size="2"><B>ARTICLE IV - MEMBERS</B></FONT></TD>

    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">7</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">4.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Limited Liability
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">7</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">4.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Admission of Members
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">7</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">4.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Withdrawals or Resignations
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">8</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">4.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Termination of Membership Interest
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">8</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">4.5</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Transaction With The Company
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">8</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">4.6</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Remuneration to Members
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">8</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">4.7</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Members Are Not Agents
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">8</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">4.8</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Voting Rights
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">8</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">4.9</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Meeting of Members
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">8</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD colspan="4" valign="top"><FONT size="2"><B>ARTICLE V - MANAGEMENT AND CONTROL OF THE COMPANY</B></FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">5.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Management of the Company by Manager
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">9</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">5.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Powers of Manager
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">10</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
A. Powers of Manager
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">10</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
B. Limitations on Power of Manager
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">10</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">5.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Performance of Duties; Liability of Manager
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">11</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">5.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Devotion of Time
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">11</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">5.5</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Competing Activities
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">11</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">5.6</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Transactions between the Company and the Manager
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">12</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">5.7</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Payments to Manager or its Affiliates
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">12</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">5.8</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Officers
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">12</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">5.9</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Limited Liability
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">12</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD colspan="4" valign="top"><FONT size="2"><B>ARTICLE VI - ALLOCATIONS OF NET PROFITS AND</B></FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top" colspan="3"><FONT size="2"><B>NET LOSSES AND DISTRIBUTION</B></FONT></TD>

    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">13</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">6.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Allocations of Net Profit and Net Loss
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">13</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
A. Net Loss
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">13</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
B. Net Profit
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">13</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">6.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Special Allocations
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">13</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
A. Minimum Gain Chargeback
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">13</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
B. Chargeback of Minimum Gain Attributable to
Member Nonrecourse Debt
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">14</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
C. Nonrecourse Deductions
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">14</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>


<P align="center"><FONT size="2">ii</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="79%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
D. Member Nonrecourse Deductions
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">14</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
E. Qualified Income Offset
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">14</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">6.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Code Section&nbsp;704(c) Allocations
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">14</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">6.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Allocation of Net Profits and Losses and
Distribution in Respect of a Transferred Interest
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">15</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">6.5</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Distributions
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">15</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
A. Operations
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">15</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
B. Dispositions
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">15</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
C. Holder of Record
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">15</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">6.6</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Form of Distribution
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">15</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">6.7</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Restriction on Distributions
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">16</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">6.8</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Return on Distributions
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">16</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">6.9</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Obligations of Members to Report Allocations
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">16</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD colspan="3" valign="top"><FONT size="2"><B>ARTICLE VII - TRANSFER AND ASSIGNMENT OF INTERESTS</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">16</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">7.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Transfer and Assignment of Interests
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">16</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">7.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Substitution of Members
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">17</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">7.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Effective Date of Transfers
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">17</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">7.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Rights of Legal Representatives
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">17</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD colspan="4" valign="top"><FONT size="2"><B>ARTICLE VIII - ACCOUNTING, RECORDS, REPORTING BY MEMBERS</B></FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">17</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">8.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Books and Records
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">17</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">8.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Delivery to Members
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">18</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">8.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Annual Statements
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">18</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">8.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Filings
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">18</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">8.5</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Bank Accounts
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">18</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">8.6</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Accounting Decisions and Reliance on Others
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">19</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">8.7</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Tax Matters for the Company Handled by Manager and
Tax Matters Partner
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">19</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD colspan="3" valign="top"><FONT size="2"><B>ARTICLE IX DISSOLUTION AND WINDING UP</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">19</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">9.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Dissolution
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">19</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">9.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Winding-Up
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">19</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">9.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Distributions in Kind
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">19</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">9.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Order of Payment Upon Dissolution
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">20</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">9.5</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Limitations on Payments Made in Dissolution
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">20</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD colspan="3" valign="top"><FONT size="2"><B>ARTICLE X - INDEMNIFICATION AND INSURANCE</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">20</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">10.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Indemnification of Agents
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">20</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">10.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Insurance
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">20</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD colspan="3" valign="top"><FONT size="2"><B>ARTICLE XI - CONFIDENTIALITY AND NON-COMPETITION</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">20</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">11.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Noncompetition
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">20</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">11.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Confidentiality
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">21</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
A. Definition
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">21</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
B. No Disclosure, Use, or Circumvention
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">21</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
C. Maintenance of Confidentiality
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">21</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">11.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Non-Solicitation
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">21</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">11.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Reasonableness of Restrictions; reformation;
Enforcement
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">21</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">11.5</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Specific Performance
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">22</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>


<P align="center"><FONT size="2">iii</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="79%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="3" valign="top"><FONT size="2"><B>ARTICLE XII - INVESTMENT REPRESENTATIONS</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">22</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">12.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Pre-existing Relationship or Experience
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">22</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">12.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
No Advertising
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">23</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">12.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Investment Intent
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">23</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">12.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consultation with Attorney
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">23</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">12.5</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Tax Consequences
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">23</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">12.6</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
No Assurance of Tax Benefits
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">23</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD colspan="3" valign="top"><FONT size="2"><B>ARTICLE XIII - MISCELLANEOUS</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">23</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.1</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Complete Agreement
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">23</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.2</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Binding Effect
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">23</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.3</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Parties in Interest
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">23</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.4</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Pronouns; Statutory References
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">24</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.5</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Headings
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">24</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.6</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Interpretation
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">24</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.7</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
References to this Agreement
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">24</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.8</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Jurisdiction
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">24</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.9</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Limitations on Legal Actions
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">24</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.10</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Mediation
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">24</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.11</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Exhibits
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">24</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.12</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Severability
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">25</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.13</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Additional Document and Acts
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">25</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.14</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Notices
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">25</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.15</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Amendments
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">25</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.16</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Reliance on Authority of Person Signing Agreement
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">25</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.17</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
No Interest in Company Property; Waiver of Action
for Partition
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">25</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.18</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Multiple Counterparts
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">25</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.19</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Attorney Fees
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">25</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.20</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Time is of the Essence
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">26</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.21</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Remedies Cumulative
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">26</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"></TD>
    <TD><FONT size="2">13.22</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Special Power of Attorney
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">26</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
A. Attorney in Fact
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">26</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
B. Irrevocable Power</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
C. Signatures
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">26</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD valign="top" colspan="2"><FONT size="2"><B>EXHIBIT A</B></FONT></TD>

    <TD align="left" valign="top"><FONT size="2">
Capital Contributions of Members and</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Addresses of Members and Managers</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD valign="top" colspan="2"><FONT size="2"><B>EXHIBIT B</B></FONT></TD>

    <TD align="left" valign="top"><FONT size="2">
Designated Bakery-Cafes</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Exhibit&nbsp;A</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>


<P align="center"><FONT size="2">iv</FONT>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center"><FONT size="2"><B>OPERATING AGREEMENT<BR>
FOR</B><BR>
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><B>, LLC<BR>
A DELAWARE LIMITED LIABILITY COMPANY</B>
</FONT>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Operating Agreement, is made as of <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>&nbsp;&nbsp;&nbsp;</u>, 20<u>&nbsp;&nbsp;&nbsp;</u>, by and among
the parties listed on the signature pages hereof, with reference to the
following facts:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>&nbsp;&nbsp;&nbsp;</u>, 20<u>&nbsp;&nbsp;&nbsp;</u>, a Certificate of Formation for
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, LLC (the &#147;Company&#148;), a limited liability company organized
under the laws of the State of Delaware, was filed with the Delaware Secretary
of State.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The parties desire to adopt and approve a limited liability company
operating agreement for the Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, the parties by this Agreement set forth the operating
agreement for the Company under the laws of the State of Delaware upon the
terms and subject to the conditions of this Agreement.

</FONT>


<P align="center"><FONT size="2"><B>ARTICLE I</B>
</FONT>




<P align="center"><FONT size="2"><B>DEFINITIONS</B>
</FONT>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When used in this Agreement, the following terms shall have the meanings
set forth below (all terms used in this Agreement that are not defined in this
Article&nbsp;I shall have the meanings set forth elsewhere in this Agreement):

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 &#147;Act&#148; shall mean the Delaware Limited Liability Company Act as the
same may be amended from time to time.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 &#147;Adjusted Bakery-Cafe Net Profit&#148; shall mean, with respect to a
Bakery-Cafe, in which the Class&nbsp;B Member has a Sharing Percentage of more than
zero percent (0%), the total profit (or loss) of such Bakery-Cafe for any
period after taking into account (i)&nbsp;the expenses for such period which are
incurred solely with respect to such Bakery-Cafe (including, but not limited to
the Class&nbsp;C Member&#146;s annual salary and benefits) which are of the types
reflected on the form of store operating statement generally used by Panera for
its individual bakery-cafes as such form may be modified by Panera from
time-to-time, (ii)&nbsp;for any period, all costs incurred by Panera, Asiago or
their affiliates relating to district (including, but not limited to the Class
B Member&#146;s annual salary and benefits), regional and area supervision above the
individual bakery-cafe level, bakery supervision, field training, training
functions, neighborhood marketing and recruiting and relocation, donation
credit or as other shared costs, as such costs may be allocated by Panera to
Asiago or Company from time-to-time to reflect such Bakery-Cafe&#146;s proportionate
share of such costs among all bakery-cafes owned or managed by Panera, Asiago
or their affiliates; and (iii)&nbsp;a management fee of <u>&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;</u>%) of the
Gross Sales for such Bakery-Cafe during such period.

</FONT>


<P align="center"><FONT size="2">1</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 &#147;Affiliate&#148; of a Member or Manager shall mean any Person, directly or
indirectly, through one or more intermediaries, controlling, controlled by, or
under common control with a Member or Manager, as applicable. The term
&#147;control&#148;, as used in the immediately preceding sentence, shall mean with
respect to a corporation or limited liability company the right to exercise,
directly or indirectly, more than fifty percent (50%) of the voting rights
attributable to the controlled corporation or limited liability company, and,
with respect to any individual, partnership, trust, other entity or
association, the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of the controlled entity.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 &#147;Applicable
Net Profit Allocation Percentage&#148; shall mean
(i)<u>&nbsp;&nbsp;&nbsp;&nbsp;</u> percent
(<u>&nbsp;&nbsp;&nbsp;</u>%) during the Period in which the cumulative number of open
Bakery-Cafes in which the Class&nbsp;B Member has a Sharing Percentage of more than
zero percent (0%) is at least <u>&nbsp;&nbsp;&nbsp;&nbsp;</u> (<u>&nbsp;&nbsp;&nbsp;</u>) up to <u>&nbsp;&nbsp;&nbsp;&nbsp;</u> (); (ii) <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
percent (<u>&nbsp;&nbsp;&nbsp;</u>%) during the Period in which such cumulative number of open
Bakery-Cafes is at least <u>&nbsp;&nbsp;&nbsp;&nbsp;</u> (<u>&nbsp;&nbsp;&nbsp;</u>) up to <u>&nbsp;&nbsp;&nbsp;&nbsp;</u> (<u>&nbsp;&nbsp;&nbsp;</u>); (iii) <u>&nbsp;&nbsp;&nbsp;&nbsp;</u> percent
(<u>&nbsp;&nbsp;&nbsp;</u>%) during the Period in which such cumulative number of open Bakery-Cafes
is at least <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>); and (iv)&nbsp;notwithstanding that the Applicable Net Profit
Allocation Percentage may change as additional Bakery-Cafes are opened, at any
given time, the Applicable Net Profit Allocation Percentage shall be the same
amount for each Bakery-Cafe (by way of example, if the cumulative number of
such Bakery-Cafes increases to five (5), the Applicable Net Profit Allocation
Percentage for each of the five (5)&nbsp;Bakery-Cafes shall thereupon be <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%) instead of the <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%) which had been in effect
when only four (4)&nbsp;Bakery-Cafes had been open).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 &#147;Agreement&#148; shall mean this Operating Agreement, as originally
executed and as amended from time to time.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 &#147;Asiago&#148; shall mean ASIAGO BREAD, LLC, a Delaware limited liability
company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 &#147;Assignee&#148; shall mean the owner of an Economic Interest who has not
been admitted as a substitute Member in accordance with Article&nbsp;VII.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 &#147;Bakery-Cafe&#148; shall mean any bakery, restaurant and/or cafe which uses
the Marks (or the Mark &#147;Saint Louis Bread&#148; or &#147;Saint Louis Bread Company&#148;) and
System.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9 &#147;Bakery-Cafe Net Profit&#148; shall mean, with respect to a Bakery-Cafe, in
which a Class&nbsp;C Member has a Sharing Percentage of more than zero percent (0%),
the total profit (or loss) of such Bakery-Cafe for any period after taking into
account (i)&nbsp;the expenses for such period which are incurred solely with respect
to such Bakery-Cafe (including, but not limited to the Class&nbsp;C Member&#146;s annual
salary and benefits) which are of the types reflected on the form of store
operating statement generally used by Panera for its individual bakery-cafes as
such form may be modified by Panera from time-to-time, and (ii)&nbsp;a management
fee of <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%) of the Gross Sales for such Bakery-Cafe during such
period.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 &#147;Bankruptcy&#148; of a Member shall mean: (a)&nbsp;the filing of a voluntary
petition in bankruptcy by such Member; (b)&nbsp;such Member is adjudged a bankrupt
or insolvent, or the entry of an order for relief with respect to such Member
in any bankruptcy or insolvency proceedings; (c)&nbsp;the making by such Member of a
general assignment for the benefit of creditors; (d)&nbsp;such Member seeks,
consents to or acquiesces in the appointment of a trustee, receiver or
liquidator of such Member or of all or any substantial part of such Member&#146;s
properties; (e)&nbsp;such Member files a petition or answer seeking for such Member
any reorganization, arrangement, composition, readjustment, liquidation,
dissolution or similar relief under any statute, law or regulation; or (f)&nbsp;such
Member files an answer or other pleading

</FONT>


<P align="center"><FONT size="2">2</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P><FONT size="2">admitting or failing to contest the material allegations of a petition
filed against the member in any proceeding of such nature.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11 &#147;Capital Account&#148; shall mean with respect to any Member the capital
account which the Company establishes and maintains for such Member pursuant to
Section&nbsp;3.3.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12 &#147;Capital Contribution&#148; shall mean the total amount of cash
contributed to the Company by the Members.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13 &#147;Certificate&#148; shall mean the Certificate of Formation for the Company
originally filed with the Delaware Secretary of State as amended from time to
time.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14 &#147;Class&nbsp;A Member&#148; shall mean Asiago, or any transferee of Asiago.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15 &#147;Class&nbsp;B Member&#148; shall mean the individual who has been admitted to
the Company as a Class&nbsp;B Member and has not ceased to be a Member for any
reason.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16 &#147;Class&nbsp;B Member Employment Agreement&#148; shall mean an employment
agreement between Asiago and the Class&nbsp;B Member which references this Agreement
and services to be rendered by the Class&nbsp;B Member with respect to one or more
Designated Bakery-Cafes.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17 &#147;Class&nbsp;C Member&#148; shall mean any individual who has been admitted to
the Company as a Class&nbsp;C Member and has not ceased to be a Member for any
reason.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.18 &#147;Class&nbsp;C Member Employment Agreement&#148; shall mean an employment
agreement between Asiago and a Class&nbsp;C Member which references this Agreement
and services to be rendered by such Class&nbsp;C Member with respect to a Designated
Bakery-Cafe.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19 &#147;Company&#148; shall mean &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, LLC a Delaware limited
liability company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20 &#147;Company Minimum Gain&#148; shall have the meaning ascribed to the term
&#147;Partnership Minimum Gain&#148; in the Regulations Section&nbsp;1.704-2(d).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.21 &#147;Code&#148; shall mean the Internal Revenue Code of 1986, as amended from
time to time, the provisions of succeeding law, and to the extent applicable,
the Regulations.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.22 Competitive Activity&#148; shall include the following:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;being employed by, advising, consulting in, or acting in any way as an
agent for Atlanta Bread Company, Au Bon Pain, ABP Corporation, Bruegger&#146;s,
Cosi&#146;s, Corner Bakery, Einstein, Great Harvest, Krispy Kreme, La Madeline,
Montana Mills, Schlotzky&#146;s, Starbucks; or directly or indirectly engaging in,
being employed by, advising, consulting in, or acting in any way as an agent
for any entity engaged, in whole or in part, in any retail food establishment
(including any restaurant or bakery, but excluding any exclusively based pizza
concept) in which any of the following categories constitutes more than twenty
percent (20%) of its revenues: (a)&nbsp;bakery goods and breads; (b)&nbsp;sandwiches,
soups and/or salads, other than those ordered through a wait person taking
orders at a table (the term &#147;sandwiches&#148; shall not include hamburgers); or (c)
coffee and coffee-based drinks; as well as any business (without regard to
revenue) that manufactures, wholesales and/or distributes fresh or frozen dough
or bakery products which is or may be competitive with or adverse to the
Company&#146;s or its Affiliates (including, without limitation, Asiago and Panera)
business and which is within a one

</FONT>


<P align="center"><FONT size="2">3</FONT>

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<P><FONT size="2">hundred (100)&nbsp;mile radius of where the Company or its Affiliates
(including, without limitation, Asiago and Panera) is engaged in business or
where the Company or its Affiliates (including, without limitation, Asiago and
Panera) is attempting to engage in business or where the Company or its
Affiliates (including, without limitation, Asiago and Panera) may reasonably be
expected to engage in business within the twelve (12)&nbsp;months immediately
following the end of the Term of Employment under a Class&nbsp;B Member Employment
Agreement or under a Class&nbsp;C Member Employment Agreement; or

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;having, or acquiring any interest in (whether as proprietor, partner,
stockholder, consultant, officer, director, or any type of principal
whatsoever) Atlanta Bread Company, Au Bon Pain, ABP Corporation, Bruegger&#146;s,
Cosi&#146;s, Corner Bakery, Einstein, Great Harvest, Krispy Kreme, La Madeline,
Montana Mills, Schlotzky&#146;s, Starbucks or any entity engaged, in whole or in
part, in any retail food establishment (including any restaurant or bakery, but
excluding any exclusively based pizza concept) in which any of the following
categories constitutes more than twenty percent (20%) of its revenues: (a)
bakery goods and breads; (b)&nbsp;sandwiches purchased in a service manner and/or
method similar to that used by the Company or its Affiliates (including,
without limitation, Asiago and Panera) (the term &#147;sandwiches&#148; shall not include
hamburgers); or (c)&nbsp;coffee and coffee-based drinks; as well as any business
(without regard to revenue) that manufactures, wholesales and/or distributes
fresh or frozen dough or bakery products which is or may be competitive with or
adverse to the Company&#146;s or its Affiliates (including, without limitation,
Asiago and Panera) business and which is within a one hundred (100)&nbsp;mile radius
of where the Company or its Affiliates (including, without limitation, Asiago
and Panera) is engaged in business or where the Company or its Affiliates
(including, without limitation, Asiago and Panera) is attempting to engage in
business or where the Company or its Affiliates (including, without limitation,
Asiago and Panera) may reasonably be expected to engage in business within the
twelve (12)&nbsp;months immediately following the end of the Term of Employment
under a Class&nbsp;B Member Employment Agreement or under a Class&nbsp;C Member
Employment Agreement, except that the direct or indirect ownership of five
percent (5%) or less of the stock of a company whose shares are listed on a
national securities exchange or are quoted on the National Association of
Securities Dealers Automated Quotation System shall not be deemed having or
acquiring any such interest; or

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;directly or indirectly being employed by, advising, consulting in, or
acting in any way as an agent for any entity: (a)&nbsp;which is a franchisee of the
Company or its Affiliates (including, without limitation, Asiago and Panera),
or (b)&nbsp;which was a franchisee of the Company or its Affiliates (including,
without limitation, Asiago and Panera) at any time within the twelve (12)
months immediately prior to the end of the Term of Employment under a Class&nbsp;B
Member Employment Agreement or under a Class&nbsp;C Member Employment Agreement with
the Company or its Affiliates (including, without limitation, Asiago and
Panera), or (c)&nbsp;which the Company or its Affiliates (including, without
limitation, Asiago and Panera) is and/or was attempting to secure as a
franchisee at any time within the twelve (12)&nbsp;months immediately prior to the
end of the Term of Employment under a Class&nbsp;B Member Employment Agreement or
under a Class&nbsp;C Member Employment Agreement with the Company or its Affiliates
(including, without limitation, Asiago and Panera), or (d)&nbsp;which the Company or
its Affiliates (including, without limitation, Asiago and Panera) may
reasonably be expected to secure as a franchisee at any time within the twelve
(12)&nbsp;months immediately following the end of the Term of Employment under a
Class&nbsp;B Member Employment Agreement or under a Class&nbsp;C Member Employment
Agreement; or

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;having, or acquiring any interest in (whether as proprietor, partner,
stockholder, consultant, officer, director, or any type of principal
whatsoever) any entity: (a)&nbsp;which is a franchisee of the Company or its
Affiliates (including, without limitation, Asiago and Panera), or (b)&nbsp;which was
a franchisee of the Company or its Affiliates (including, without limitation,
Asiago and Panera) at any time within the twelve (12)&nbsp;months immediately prior
to the end of the Term of Employment under a Class&nbsp;B Member Employment
Agreement or under a Class&nbsp;C Member Employment Agreement with the

</FONT>


<P align="center"><FONT size="2">4</FONT>

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<P><FONT size="2">Company or its Affiliates (including, without limitation, Asiago and
Panera), or (c)&nbsp;which the Company or its Affiliates (including, without
limitation, Asiago and Panera) is and/or was attempting to secure as a
franchisee at any time within the twelve (12)&nbsp;months immediately prior to the
end of the Term of Employment under a Class&nbsp;B Member Employment Agreement or
under a Class&nbsp;C Member Employment Agreement with the Company or its Affiliates
(including, without limitation, Asiago and Panera), or (d)&nbsp;which the Company or
its Affiliates (including, without limitation, Asiago and Panera) may
reasonably be expected to secure as a franchisee at any time within the twelve
(12)&nbsp;months immediately following the end of the Term of Employment under a
Class&nbsp;B Member Employment Agreement or under a Class&nbsp;C Member Employment
Agreement, except that the direct or indirect ownership of five percent (5%) or
less of the stock of a company whose shares are listed on a national securities
exchange or are quoted on the National Association of Securities Dealers
Automated Quotation System shall not be deemed having or acquiring any such
interest.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;References to &#147;the Company&#146;s or its Affiliates (including, without
limitation, Asiago and Panera) business&#148; and/or &#147;where the Company or its
Affiliates (including, without limitation, Asiago and Panera) is engaged in
business&#148; and/or &#147;where the Company or its Affiliates (including, without
limitation, Asiago and Panera) is attempting to engage in business&#148; and/or
&#147;where the Company or its Affiliates (including, without limitation, Asiago and
Panera) may reasonably be expected to engage in business&#148;, shall mean any
and/or all current and/or future franchisee operation(s) as well as any current
and/or future Company or its Affiliates (including, without limitation, Asiago
and Panera) operation(s).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.23 &#147;Designated Bakery-Cafe&#148; shall mean, a Bakery-Cafe owned and operated
by the Company and in which the Class&nbsp;B Member or a Class&nbsp;C Member is allocated
a Sharing Percentage in accordance with Section&nbsp;3.1 or Section&nbsp;3.2.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.24 &#147;Economic Interest&#148; shall mean the right to receive distributions of
the Company&#146;s assets and allocations of income, gain, loss, deduction, credit
and similar items from the Company pursuant to this Agreement and the Act, but
shall not include any other rights of a Member, including, without limitation,
the right to vote or participate in the management of the Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25 &#147;Fiscal Year&#148; shall mean the Company&#146;s fiscal year, which shall end
on the last Saturday in December of each year, which fiscal year may be changed
at the discretion of the Manager.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26 &#147;Gross Sales&#148; for any Bakery-Cafe shall mean, for any period, the
aggregate gross amount of all sales of food, beverages and other products and
merchandise sold and services rendered in connection with such Bakery-Cafe,
including monies derived from sales at or away from such Bakery-Cafe whether
for cash or credit, but excluding (i)&nbsp;all federal, state or municipal sales or
service taxes collected from customers and paid to the appropriate taxing
authorities; and (ii)&nbsp;all Company approved customer refunds and adjustments and
promotional discounts made by such Bakery-Cafe.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.27 &#147;Management Fee&#148; shall have the meaning set forth in Section&nbsp;5.7.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.28 &#147;Manager&#148; shall mean Asiago, or such other Person as may be appointed
by the Class&nbsp;A Member.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.29 &#147;Marks&#148; shall mean the current and future tradenames, trademarks,
service marks, and trade dress used to identify the services and/or products
offered by Bakery-Cafes, including the marks &#147;PANERA BREAD&#148;, and the
distinctive building design and color scheme.

</FONT>


<P align="center"><FONT size="2">5</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30 &#147;Member&#148; shall mean each Person who (a)&nbsp;is an initial signatory to
this Agreement, has been admitted to the Company as a Member in accordance with
the Certificate or this Agreement or is an Assignee who has become a Member in
accordance with Article&nbsp;VII, and (b)&nbsp;has not ceased to be a Member for any
reason.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.31 &#147;Member Nonrecourse Debt&#148; shall have the meaning ascribed to the term
&#147;Partner Nonrecourse Debt&#148; in Regulations Section&nbsp;1.704-2 (b) (4).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.32 &#147;Member Nonrecourse Deductions&#148; shall mean items of Company loss,
deduction, or Code Section&nbsp;705 (a) (2) (B)&nbsp;expenditures which are attributable
to Member Nonrecourse Debt.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.33 &#147;Membership Interest&#148; shall mean a Member&#146;s entire interest in the
Company including the Member&#146;s Economic Interest, the right to vote on or
participate in the management, and the right to receive information concerning
the business and affairs, of the Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.34 &#147;Net Profits&#148; and &#147;Net Losses&#148; shall mean the income, gain, loss and
deductions of the Company in the aggregate or separately stated, as
appropriate, determined in accordance with the method of accounting at the
close of each Fiscal Year on the Company&#146;s information tax return filed for
federal income tax purposes, after taking into account, among other things, the
Management Fee.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.35 &#147;Nonrecourse Liability&#148; shall have the meaning set forth in
Regulations Section&nbsp;1.752-1 (a) (2).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.36 &#147;Panera&#148; shall mean PANERA, LLC, a Delaware limited liability
company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.37 &#147;Period&#148; shall mean any of the thirteen (13)&nbsp;four-week periods which
constitute the Company&#146;s Fiscal Year.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38 &#147;Person&#148; shall mean an individual, partnership, limited partnership,
limited liability company, corporation, trust, estate, association or any other
entity.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.39 &#147;Proprietary Information&#148; shall have the meaning set forth in Section
11.2.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40 &#147;Regulations&#148; shall, unless the context clearly indicates otherwise,
mean the regulations in force as final or temporary that have been issued by
the U.S. Department of Treasury pursuant to its authority under the Code, and
any successor regulations.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.41 &#147;Sharing Percentage&#148; shall mean, with respect to a Designated
Bakery-Cafe, the following:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Except as provided in clause (d)&nbsp;below, <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%) for the
Class&nbsp;B Member who is allocated a Sharing Percentage by the Manager in such
Designated Bakery-Cafe;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Except as provided in clause (d)&nbsp;below, <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%) for a
Class&nbsp;C Member who is allocated a Sharing Percentage by the Manager in such
Designated Bakery-Cafe;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;for the Class&nbsp;A Member, a percentage equal to one hundred percent
(100%) less the sum of the allocated Sharing Percentages for the Class&nbsp;B Member
and a Class&nbsp;C Member, if any, for such Designated Bakery-Cafe; and

</FONT>


<P align="center"><FONT size="2">6</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;zero percent (0%) for any Class&nbsp;C Member who is not allocated a
Sharing Percentage by the Manager in such Designated Bakery-Cafe, or for the
Class&nbsp;B Member if either Asiago or the Class&nbsp;B Member exercises a right under
Article&nbsp;VII to purchase or sell the Class&nbsp;B Member&#146;s interest in such
Designated Bakery-Cafe.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.42 &#147;System&#148; shall mean the business methods, designs and arrangements
for developing and operating Bakery-Cafes, which include the Marks, building
design and layouts, equipment, ingredients, recipes, methods of preparation and
specifications for authorized food products, methods of inventory control and
certain operating and business standards and policies, all of which may be
improved, further developed, or otherwise modified from time to time.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.43 &#147;Tax Matters Partner&#148; (as defined in Code Section&nbsp;6231) shall be
Asiago or its successor as designated pursuant to Section&nbsp;8.8.

</FONT>


<P align="center"><FONT size="2"><B>ARTICLE II</B>
</FONT>

<P align="center"><FONT size="2"><B>ORGANIZATIONAL MATTERS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 Formation. The Members have formed a Delaware limited liability
company under the laws of the State of Delaware by filing the Certificate with
the Delaware Secretary of State and entering into this Agreement. The rights
and liabilities of the Members shall be determined pursuant to the Act and this
Agreement. To the extent that the rights or obligations of any Member are
different by reason of any provision of this Agreement than they would be in
the absence of such provision, this Agreement shall, to the extent permitted by
the Act, control.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 Name. The name of the Company shall be &#147;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, LLC&#148;.
The business of the Company may be conducted under that name or, upon
compliance with applicable laws, any other name that the Manager deems
appropriate or advisable. The Manager shall file any fictitious name
certificates and similar filings, and any amendments thereto, that the Manager
considers appropriate or advisable.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 Term. The term of this Agreement commenced on the filing of the
Certificate and shall continue indefinitely, unless extended or sooner
terminated as hereinafter provided.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 Office and Agent. The Company shall continuously maintain a
registered office and agent in the State of Delaware. The principal office of
the Company shall be at 6710 Clayton Road, Richmond Heights, Missouri 63117, or
at such other place as the Manager may determine. The Company may also have
such offices, anywhere within and without the State of Delaware, as the Manager
may determine from time to time, or the business of the Company may require.
The registered agent shall be as stated in the Certificate or as otherwise
determined by the Manager.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 Addresses of the Members and the Manager. The respective addresses of
the Members and the Manager are set forth on Exhibit&nbsp;A. A Member may change
its address upon notice thereof to the Manager.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 Purpose and Business of the Company. The purpose of the Company is to
engage in any lawful activity for which a limited liability company may be
organized under the Act.

</FONT>


<P align="center"><FONT size="2">7</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, without the consent of all of the Members,
the Company shall not engage in any business other than the following:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The acquisition, development, ownership, management, operation and sale
of such number of Bakery-Cafe locations as shall be determined by the Class&nbsp;A
Member in its sole discretion; and

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Such other activities directly related to and in furtherance of the
foregoing business as may be necessary, advisable, or appropriate, in the
reasonable opinion of the Manager.

</FONT>


<P align="center"><FONT size="2"><B>ARTICLE III</B>
</FONT>

<P align="center"><FONT size="2"><B>CAPITAL CONTRIBUTIONS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 Initial Capital Contributions.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Class&nbsp;A Member. As its initial Capital Contribution, the Class&nbsp;A
Member shall, concurrent with the execution of this Agreement by the Class&nbsp;A
Member, contribute <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>), and shall receive a
corresponding credit to its Capital Account.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Class&nbsp;B Member. The Class&nbsp;B Member shall, concurrent with the
admission of such Person as a Class&nbsp;B Member and his execution of this
Agreement, contribute <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>), and shall receive a
corresponding credit to his Capital Account. At the time the Class&nbsp;B Member
executes this Agreement, the Manager shall allocate to the Class&nbsp;B Member a
Sharing Percentage in a Designated Bakery-Cafe and shall modify Exhibit&nbsp;B
hereto to reflect the Sharing Percentages of the Members with respect to such
Designated Bakery-Cafe.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Class&nbsp;C Members. Each Class&nbsp;C Member shall, concurrent with the
admission of such Person as a Class&nbsp;C Member and his execution of this
Agreement, contribute <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>), and shall receive a
corresponding credit to his Capital Account. At the time each Class&nbsp;C Member
executes this Agreement, the Manager shall allocate to such Class&nbsp;C Member a
Sharing Percentage in a Designated Bakery-Cafe and shall modify Exhibit&nbsp;C
hereto to reflect the Sharing Percentages of the Members with respect to such
Designated Bakery-Cafe.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Additional Capital Contributions.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Class&nbsp;A Member. The Class&nbsp;A Member shall make additional Capital
Contributions to the Company, as the Class&nbsp;A Member deems appropriate. The
Class&nbsp;A Member shall receive a credit to its Capital Account in the amount of
any additional capital so contributed to the Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Class&nbsp;B Member. From time to time, the Manager shall notify the Class
B Member of the Company&#146;s intention to develop a Bakery-Cafe at a specified
location (which shall constitute a Designated Bakery-Cafe). Within thirty
(30)&nbsp;days of the delivery of such notice, the Class&nbsp;B Member shall make an
additional Capital Contribution of <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>) to the
Company. If such Capital Contribution is so made within such thirty (30)&nbsp;days,
the Class&nbsp;B Member shall receive a credit to his Capital Account in the amount
of the additional capital so contributed, and the Manager shall allocate to
such Class&nbsp;B Member a Sharing Percentage in such Designated

</FONT>


<P align="center"><FONT size="2">8</FONT>

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<P><FONT size="2">Bakery-Cafe and shall modify Exhibit&nbsp;B hereto to reflect such allocation. The
Class&nbsp;B Member acknowledges that (i)&nbsp;no representation, warranty, guarantee or
assurance has been made with respect to the number of Designated Bakery-Cafes
in which the Class&nbsp;B Member may be allocated a Sharing Percentage and (ii)&nbsp;the
failure by the Class&nbsp;B Member to timely make any Capital Contributions
hereunder constitutes &#147;Cause&#148; for termination under the Class&nbsp;B Member
Employment Agreement and adversely affects the purchase price payable for the
Class&nbsp;B Member&#146;s Membership Interest under the purchase rights and obligations
set forth in the Class&nbsp;B Member Employment Agreement.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Class&nbsp;C Members. The Class&nbsp;C Members shall have no right to make any
additional Capital Contributions.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. No Further Capital Contributions Required. Except as provided in
Section&nbsp;3.1, Section&nbsp;3.2 A and Section&nbsp;3.2 B, no Member shall be required to
make any additional Capital Contributions. To the extent approved by the
Manager, from time to time, the Class&nbsp;A Member may be permitted to make loans
to Company (but is under no obligation to do so), if the Manager determines
that such loans to the Company are necessary or appropriate for the conduct of
the Company&#146;s business. In that event, the Class&nbsp;B Member and the Class&nbsp;C
Members shall have no right to participate in such loans.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 Capital Accounts. The Company shall establish and maintain an
individual Capital Account for each Member in accordance with Regulations
Section&nbsp;1.704-1 (b) (2) (iv). If a Member transfers all or a part of its
Membership Interest in accordance with this Agreement, such Member&#146;s Capital
Account attributable to the transferred Membership Interest shall carry over to
the new owner of such Membership Interest pursuant to Regulations Section
1.704-1 (b) (2) (iv) (1).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 No Interest on Capital Contributions. No Member shall be entitled to
receive any interest on its Capital Contributions.

</FONT>


<P align="center"><FONT size="2"><B>ARTICLE IV</B>
</FONT>

<P align="center"><FONT size="2"><B>MEMBERS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 Limited Liability. Except as expressly set forth in this Agreement or
required by law, no Member shall be personally liable, or shall be obligated to
provide a guaranty or indemnity, for any debt, obligation, or liability of the
Company, whether that liability or obligation arises in contract, tort, or
otherwise.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 Admission of Members. The Manager may admit to the Company the Class
B Member and such number of Class&nbsp;C Members (if not admitted as of the initial
execution of this Agreement by the Class&nbsp;A Member) as the Manager deems
appropriate in its sole discretion. Each Person admitted as the Class&nbsp;B Member
or a Class&nbsp;C Member shall sign a counterpart of this Agreement as a Member and
the names and addresses of the Members shall be set forth on Exhibit&nbsp;A, and the
Sharing Percentages for Designated Bakery-Cafes shall be set forth on Exhibit
B, and such Exhibits shall be updated or modified as the Class&nbsp;B Member and
Class&nbsp;C Members are admitted. The Manager also may admit additional Members on
such terms as are determined by the Manager so long as such terms shall not
adversely affect the Net Profits, Net Losses and distribution rights of the
Class&nbsp;B Member and the Class&nbsp;C Members without their prior consent.
Notwithstanding the foregoing, Assignees may only be admitted as substitute
Members in accordance with Article&nbsp;VII.

</FONT>


<P align="center"><FONT size="2">9</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 Withdrawals or Resignations. No Member may withdraw or resign from
the Company. The Bankruptcy of a Member shall not result in a Member ceasing
to be a Member of the Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 Termination of Membership Interest. Upon the transfer of the
Membership Interest of the Class&nbsp;B Member or any Class&nbsp;C Member in violation of
Article&nbsp;VII, the Membership Interest of such Member shall be terminated by the
Manager and thereafter that Member shall be an Assignee only. Each Member
acknowledges and agrees that such termination of a Membership Interest upon the
occurrence of the foregoing event is not unreasonable under the circumstances
existing as of the date hereof.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Transactions With The Company. A Member or Affiliate of a Member may
lend money to and transact other business with the Company (including, without
limitation, the purchase, sale, lease, or exchange of any property or the
rendering of any service, or the establishment of any salary, other
compensation, or other terms of employment) on such terms as the Manager
determines are reasonable. Subject to other applicable law, such Member has
the same rights and obligations with respect thereto as a Person who is not a
Member.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 Remuneration To Members. Except as otherwise specifically provided in
this Agreement or approved by the Manager, no Member is entitled to
remuneration for acting in the Company business.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 Members Are Not Agents. Pursuant to Section&nbsp;5.1 and the Certificate,
the management of the Company is vested in the Manager. The Members shall have
no power to participate in the management of the Company except as expressly
authorized to do so by this Agreement, or by the Manager, or except as
expressly required by the Act. No Member, acting solely in the capacity of a
Member, is an agent of the Company nor does any Member, unless expressly and
duly authorized in writing to do so by the Manager, have any power or authority
to bind or act on behalf of the Company in any way, to pledge its credit, to
execute any instrument on its behalf or to render it liable for any purpose.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 Voting Rights. Except as expressly provided in Section&nbsp;5.2 B, the
Class&nbsp;B Member and the Class&nbsp;C Members shall have no voting, approval or
consent rights. Except as otherwise set forth in this Agreement, in all matters
in which a vote, approval or consent of the Members is required, a vote,
consent or approval of the Class&nbsp;A Member shall be sufficient to authorize or
approve such act. All votes, approvals or consents of a Member may be given or
withheld, conditioned or delayed as the Members may determine in their sole and
absolute discretion and each Member may vote, approve or consent to any matter
without regard to whether such matter furthers the Member&#146;s self-interest or
may present a conflict of interest for such Member.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9 Meetings of Members. No annual or regular meetings of Members are
required. Meetings of the Members may be requested only by the Class&nbsp;A Member
holding more than twenty percent (20%) of the Percentage Interests for the
purpose of addressing any matters on which all of the Members may vote by
delivery of a request to hold a meeting to the Manager. Within fourteen (14)
days of receiving such request, the Manager shall call for a meeting to be held
not less than seven (7)&nbsp;nor more than sixty (60)&nbsp;days after such receipt and
shall deliver written notice of the meeting to each Member. The notice shall
specify the place, date and hour of the meeting and the general nature of the
business to be transacted.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The actions taken at any meeting of Members however called and noticed,
and wherever held, have the same validity as if taken at a meeting duly held
after regular call and notice, if a quorum is

</FONT>


<P align="center"><FONT size="2">10</FONT>

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<P><FONT size="2">present either in person or by proxy, and if, either before or after the
meeting, each of the Members entitled to vote, who was not present in person or
by proxy, signs a written waiver of notice or consents to the holding of the
meeting or approves the minutes of the meeting. All such waivers, consents or
approvals shall be filed with the Company records or made a part of the minutes
of the meeting.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any action that may be taken at a meeting of Members may be taken without
a meeting, if a consent in writing setting forth the action so taken, is signed
and delivered to the Company within sixty (60)&nbsp;days of the record date for that
action by Members having not less than the minimum number of votes that would
be necessary to authorize or take that action at a meeting at which all Members
entitled to vote on that action at a meeting were present and voted. All such
consents shall be filed with the Manager or the secretary, if any, of the
Company and shall be maintained in the Company records. Any Member giving a
written consent, or the Member&#146;s proxy holders, may revoke the consent by a
writing received by the Manager or secretary, if any, of the Company before
written consents of the number of votes required to authorize the proposed
action have been filed.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained herein, a meeting does
not need to be held regarding, and the Class&nbsp;B Member and Class&nbsp;C Members do
not need to be notified of, any action that is subject to the vote, approval or
consent of only the Class&nbsp;A Member.

</FONT>


<P align="center"><FONT size="2"><B>ARTICLE V</B>
</FONT>

<P align="center"><FONT size="2"><B>MANAGEMENT AND CONTROL OF THE COMPANY</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 Management of the Company by Manager. The Company shall have one (1)
manager (as such term as defined in the Act), who shall initially be Asiago and
shall be referred to herein as the &#147;Manager&#148;. The Class&nbsp;A Member may remove or
replace the Manager at any time or from time-to-time.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The business, property and affairs of the Company shall be managed
exclusively by the Manager. Except for situations in which the approval of the
Class&nbsp;A Member, or all of the Members, is expressly required by this Agreement,
the Manager shall have full, complete and exclusive authority, power, and
discretion to manage and control the business, property and affairs of the
Company, to make all decisions regarding those matters, and to perform any and
all other acts or activities customary or incident to the management of the
Company&#146;s business, property and affairs. The Manager is authorized to endorse
checks, drafts, and other evidence of indebtedness made payable to the order of
the Company, sign all checks, drafts, and other instruments obligating the
Company to pay money, sign contracts and obligations on behalf of the Company,
and may authorize other Persons with the right to do the foregoing.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 Powers of Manager.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Powers of Manager. Without limiting the generality of Section&nbsp;5.1, but
subject to Section&nbsp;5.2 B and to the express limitations set forth elsewhere in
this Agreement, the Manager shall have all necessary powers to manage and carry
out the purposes, business, property, and affairs of the Company, including,
without limitation, the power to:

</FONT>


<P align="center"><FONT size="2">11</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;develop, acquire, purchase, lease, operate, renovate, improve, alter,
rebuild, demolish, replace, and own the Bakery-Cafes and any other real
property and any other personal property or assets that the Manager determines
is necessary or appropriate or in the interest of the business of the Company;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;admit Persons as the Class&nbsp;B Member and the Class&nbsp;C Members, request
additional Capital Contributions from the Class&nbsp;B Member as described in
Section&nbsp;3.2 B, determine the Designated Bakery-Cafe in which the Class&nbsp;B Member
or a Class&nbsp;C Member may be allocated a Sharing Percentage, and allocate Sharing
Percentages to the Class&nbsp;B Member and the Class&nbsp;C Members.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;sell, exchange, lease, or otherwise dispose of the Bakery-Cafe and
other property and assets owned by the Company, or any part thereof, or any
interest therein;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;borrow money from any party, issue evidences of indebtedness in
connection therewith, refinance, increase the amount of, modify, amend, or
change the terms of, or extend the time for the payment of any indebtedness or
obligation of the Company, and secure such indebtedness by mortgage, deed of
trust, pledge, security interest, or other lien on Company assets;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;sue on, defend, or compromise any and all claims or liabilities in
favor of or against the Company; submit any or all such claims or liabilities
to arbitration; and confess a judgment against the Company in connection with
any litigation in which the Company is involved (other than relating to the
Members or its Affiliates);

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;retain legal counsel, auditors, and other professionals in connection
with the Company business and to pay therefor such remuneration as the Manager
may determine; and

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;delegate the right to exercise any of the foregoing powers to any of
its employees or any other Person.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Limitations on Power of Manager. Notwithstanding any other provisions
of this Agreement, the Manager shall not have authority hereunder to cause the
Company to engage in the following transactions without first obtaining the
affirmative vote or written consent of each of the Members;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;The merger of the Company with another Person if the Class&nbsp;B Member or
any Class&nbsp;C Member would be required to become a general partner in a merger
with a general or limited partnership without his express written consent; and

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;An alteration of the primary purpose or business of the Company as
set forth in Section&nbsp;2.6.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 Performance of Duties; Liability of Manager. Notwithstanding any
other provision of this Agreement, whether express or implied, neither the
Manager, an Affiliate of the Manager or any officer, employee or agent of the
Manager shall be liable to the Company or any Member or any agent or Affiliate
of any Member for any act or omission taken or omitted in good faith by the
Manager or other Person, unless and then only to the extent that such act or
omission constituted fraud, willful violation of applicable law, or willful
violation of this Agreement. To the extent permitted by applicable law, the
Company and the Members waive any and all rights any of them may have to
recover punitive damages from the Company or the Manager, any Affiliate of the
Manager or any officer, employee or agent of the Manager.

</FONT>


<P align="center"><FONT size="2">12</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under no circumstances will any member, Manager, officer, employee, agent,
or other Affiliate of the Manager have any personal liability for any liability
or obligation of the Company (whether on a theory of alter ego, piercing the
company veil, or otherwise) and any recourse permitted under this Agreement or
otherwise of the Members, any former Member, and the Company against the
Manager shall be limited to the assets of the Manager.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent that, at law or in equity, the Manager or its Affiliates
have duties (including fiduciary duties) and liabilities relating thereto to
the Company or to a Member, the Manager acting under this Agreement and any
other Affiliates of the Manager acting in connection with the Company&#146;s
business or affairs shall not be liable to the Company or to any such Member
for its good faith reliance on the provisions of this Agreement. The
provisions of this Agreement, to the extent that they restrict, reduce or
eliminate the duties and liabilities of the Manager or its Affiliates otherwise
existing at law or in equity, are agreed by the Members to replace such other
duties and liabilities of the Manager and its Affiliates. The Manager and its
Affiliates shall be fully protected in relying in good faith upon information,
opinions, reports, or statements presented to the Company by any Person as to
matters the Manager or such Affiliates reasonably believe are within such other
Person&#146;s professional or expert competence and who has been selected with
reasonable care by or on behalf of the Company. The Manager and its
Affiliates, officers, employees and agents do not violate any duty or
obligation hereunder merely because approving or disapproving a matter, taking
an action or engaging in any conduct furthers the interest of the Manager, its
Affiliates, officers, employees and agents, or may be detrimental to the
interest of the Class&nbsp;B Member or the Class&nbsp;C Members.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 Devotion of Time. The Manager is not obligated to devote all of its
time or business efforts to the affairs of the Company. The Manager shall
devote whatever time, effort, and skill as it deems appropriate for the
operation of the Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 Competing Activities. Asiago, both as the Class&nbsp;A Member and as the
Manager, and its members, managers, shareholders, directors, officers, agents,
employees and Affiliates may engage or invest in, independently or with others,
any Competitive Activities. Without limiting the foregoing, Asiago and such
parties may develop, own, operate, manage, franchise, license or invest in
other Bakery-Cafes, even if such Bakery-Cafes may be in a location near the
Company&#146;s Bakery-Cafe, or which otherwise competes with or has an adverse
impact upon, the Company&#146;s Bakery-Cafe. Neither the Company nor any other
Member shall have any right in or to such other ventures or activities or to
the income or proceeds derived therefrom. Asiago, both as the Class&nbsp;A Member
and the Manager, and its Affiliates shall not be obligated to present any
investment opportunity or prospective economic advantage to the Company, even
if the opportunity is of the character that, if presented to the Company, could
be taken by the Company and such party shall have the right to hold any
investment opportunity or prospective economic advantage for its own account or
to recommend such opportunity to Persons other than the Company. The Members
acknowledge that Asiago and its Affiliates own and/or manage other businesses,
including businesses that compete with the Company and for the Manager&#146;s time.
The Members hereby waive any and all rights and claims which they may otherwise
have against Asiago and its members, managers, shareholders, directors,
officers, agents, employees and Affiliates as a result of any of such
activities.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 Transactions between the Company and the Manager. Notwithstanding
that it may constitute a conflict of interest, the Manager may, and may cause
its Affiliates to, engage in any transaction (including, without limitation,
the purchase, sale, lease, or exchange of any property or the rendering of any
service, or the establishment of any salary, other compensation, or other terms
of employment) with the Company on such terms as the Manager deems reasonable.

</FONT>


<P align="center"><FONT size="2">13</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7 Payments to Manager or its Affiliates. As the Manager, Asiago shall
utilize its personnel (or personnel of its Affiliates) to provide the following
services (among others): accounting; contract administration and employment
administration; benefit and payroll administration; information technology
administration; research and development; development services; purchasing
administration and tax preparation. In consideration of such services, the
Company shall pay to Asiago a management fee equal to <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%) of
Gross Sales for each Bakery-Cafe owned by the Company. The Company also shall
pay or reimburse the Manager, for all direct or indirect costs that it or its
Affiliates may incur with respect to the Bakery-Cafes or the operation of the
Company. In addition, the Company shall pay the Manager or Affiliates of the
Manager for products sold to the Company and shall reimburse the Manager and
its Affiliates for non-routine or extraordinary costs incurred or those
services which the Manager determines should instead be rendered by third
parties, including without limitation, costs for outside legal counsel,
accountants and consultants for each Bakery-Cafe owned by the Company. The
Company shall also pay or reimburse the Manager or its Affiliates for
organizational expenses (including, without limitation, legal and accounting
fees and costs) incurred to form the Company and prepare and file the
Certificate and this Agreement.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8 Officers. The Manager may appoint, remove and replace officers at any
time. The officers shall exercise such powers and perform such duties as shall
be determined from time-to-time by the Manager. The salaries of all officers
shall be determined from time-to-time by the Manager.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.9 Limited Liability. No Person who is a Manager or officer or both a
Manager and officer of the Company shall be personally liable under any
judgment of a court, or in any other manner, for any debt, obligation, or
liability of the Company, whether that liability or obligation arises in
contract, tort, or otherwise, solely by reason of being a Manager or officer or
both a Manager and officer of the Company.

</FONT>


<P align="center"><FONT size="2"><B>ARTICLE VI</B>
</FONT>

<P align="center"><FONT size="2"><B>ALLOCATIONS OF NET PROFITS AND<BR>
NET LOSSES AND DISTRIBUTIONS</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 Allocations of Net Profit and Net Loss.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Net Loss.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;Operations. Net Loss (other than Net Loss with respect to a closing,
sale or other disposition of a Designated Bakery-Cafe) shall be allocated to
the Class&nbsp;A Member. If the Net Profit allocated to the Class&nbsp;B Member and the
Class&nbsp;C Members pursuant to Section&nbsp;6.1 B (1)&nbsp;exceeds the Net Profit, the
amount of such excess (or if there was no Net Profit, the entire amount so
allocated to the Class&nbsp;B Member and the Class&nbsp;C Members) shall be allocated to
the Class&nbsp;A Member as Net Loss.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Disposition. Net Loss with respect to a closing, sale or other
disposition of a Designated Bakery-Cafe shall first be allocated to the Class&nbsp;A
Member until its Capital Account balance is zero and then any remaining Net
Loss to the Class&nbsp;B Member and the Class&nbsp;C Member, if any, who have been
allocated a Sharing Percentage of more than zero percent (0%) in such
Designated Bakery-Cafe, in proportion to their Sharing Percentages.

</FONT>


<P align="center"><FONT size="2">14</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;Deficit Capital Accounts. Notwithstanding the previous subsections,
loss allocations to a Member shall be made only to the extent that such loss
allocations will not create a deficit Capital Account balance for that Member
in excess of an amount, if any, equal to such Member&#146;s share of Company Minimum
Gain. Any loss not allocated to a Member because of the foregoing provision
shall be allocated to the other Members (to the extent the other Members are
not limited in respect of the allocation of losses under this Section&nbsp;6.1 A).
Any loss reallocated under this Section&nbsp;6.1 A shall be taken into account in
computing subsequent allocations of income and losses allocated to each Member
pursuant to this Article&nbsp;VI, to the extent possible, shall be equal to the net
amount that would have been allocated to each such Member pursuant to this
Article&nbsp;VI if no reallocation of losses had occurred under this Section&nbsp;6.1 A.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Net Profit.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;Operations. Net Profit (other than Net Profit with respect to a
closing, sale or other disposition of a Designated Bakery-Cafe) shall be
allocated to Members as follows:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;first, to the Class&nbsp;B Member, with respect to each Bakery-Cafe in
which the Class&nbsp;B Member has a Sharing Percentage of more than zero percent
(0%), an amount equal to: (a)&nbsp;the Adjusted Bakery-Cafe Net Profit for such
Bakery-Cafe during such period multiplied by the Applicable Net Profit
Allocation Percentage in effect from time to time during such period, minus (b)
the product of $<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> and the number of calendar days in such period;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;then, to each Class&nbsp;C Member, with respect to the Bakery-Cafe in which
such Class&nbsp;C Member has a Sharing Percentage of more than zero percent (0%), an
amount equal to: (a)&nbsp;the Bakery-Cafe Net Profit for such Bakery-Cafe during
such period multiplied by <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%), minus (b)&nbsp;the product of
$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> and the number of calendar days in such period; and

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;any remaining Net Profit to the Class&nbsp;A Member.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the previous subsections: (i)&nbsp;the Class&nbsp;B Member shall
receive no further allocations of Net Profit for any period commencing after
the occurrence of any event giving rise to a purchase right under Article&nbsp;VII,
and (ii)&nbsp;a Class&nbsp;C Member shall receive no further allocations of Net Profit
for any period commencing after the occurrence of any event giving rise to a
purchase right under Article&nbsp;VII with respect to such Class&nbsp;C Member&#146;s
Membership Interest.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Disposition. Net Profit with respect to a closing, sale or other
disposition of a Designated Bakery-Cafe shall be allocated to the Class&nbsp;A
Member and, if any, the Class&nbsp;B Member and the Class&nbsp;C Member who have been
allocated Sharing Percentages of more than zero percent (0%), in such
Designated Bakery-Cafe, in proportion to their Sharing Percentages with respect
to such Designated Bakery-Cafe provided, however, that if such closing, sale or
other disposition of a Designated Bakery-Cafe occurs within five (5)&nbsp;years of
the opening of such Designated Bakery-Cafe, such Class&nbsp;B Member and such Class
C Member shall instead be allocated Net Profits in an amount equal to simple
interest on <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>) at the rate of five percent (5%) per
annum from the date such Member made his capital contribution to the Company
with respect to such Designated Bakery-Cafe until the date of such closing,
sale or other disposition.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Acknowledgment of Special Allocation. The allocations set forth in
Sections&nbsp;6.1A and 6.1B are to be made without reference to the aggregate Net
Profit or Net Loss. The Members acknowledge that, as a result of such
allocations:

</FONT>


<P align="center"><FONT size="2">15</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;the amount allocated pursuant to Section&nbsp;6.1 B shall reduce the Net
Profit or increase the Net Loss otherwise allocable to the Class&nbsp;A Member, and
could result in Net Loss being allocated to the Class&nbsp;A Member even though the
Company otherwise would have a Net Profit; and

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;the Class&nbsp;A Member may receive an allocation of Net Loss pursuant to
Section&nbsp;6.1 A during a period in which Net Profit is allocated to the Class&nbsp;B
Member and the Class&nbsp;C Members pursuant to Section&nbsp;6.1 B.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 Special Allocations. Notwithstanding Section&nbsp;6.1:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Minimum Gain Chargeback. If there is a net decrease in Company Minimum
Gain during any Fiscal Year, each Member shall be specially allocated items of
Company income and gain for such Fiscal Year (and, if necessary, in subsequent
fiscal years) in an amount equal to the portion of such Member&#146;s share of the
net decrease in Company Minimum Gain that is allocable to the disposition of
Company property subject to a Nonrecourse Liability, which share of such net
decrease shall be determined in accordance with Regulations Section&nbsp;1.704-2 (g)
(2). Allocations pursuant to this Section&nbsp;6.2 A shall be made in proportion to
the amounts required to be allocated to each Member under this Section&nbsp;6.2 A.
The items to be so allocated shall be determined in accordance with Regulations
Section&nbsp;1.704-2 (f). This Section&nbsp;6.2 A is intended to comply with the minimum
gain chargeback requirement contained in Regulations Section&nbsp;1.704-2 (f)&nbsp;and
shall be interpreted consistently therewith.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Chargeback of Minimum Gain Attributable to Member Nonrecourse Debt. If
there is a net decrease in Company Minimum Gain attributable to a Member
Nonrecourse Debt, during any Fiscal Year, each member who has a share of the
Company Minimum Gain attributable to such Member Nonrecourse Debt (which share
shall be determined in accordance with Regulations Section&nbsp;1.704-2 (i) (5))
shall be specially allocated items of Company income and gain for such Fiscal
Year (and, if necessary, in subsequent Fiscal Years) in an amount equal to that
portion of such Member&#146;s share of the net decrease in Company Minimum Gain
attributable to such Member Nonrecourse Debt that is allocable to the
disposition of Company property subject to such Member Nonrecourse Debt (which
share of such net decrease shall be determined in accordance with Regulations
Section&nbsp;1.704-2 (i) (5)). Allocations pursuant to this Section&nbsp;6.2 B shall be
made in proportion to the amounts required to be allocated to each Member under
this Section&nbsp;6.2 B. The items to be so allocated shall be determined in
accordance with Regulations Section&nbsp;1.704-2 (i) (4). This Section&nbsp;6.2 B is
intended to comply with the minimum gain chargeback requirement contained in
Regulations Section&nbsp;1.704-2 (i) (4)&nbsp;and shall be interpreted consistently
therewith.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Nonrecourse Deductions. Any nonrecourse deductions (as defined in
Regulations Section&nbsp;1.704-2 (b) (1)) for any Fiscal Year or other period shall
be specially allocated to the Members in proportion to their Percentage
Interests.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Member Nonrecourse Deductions. Those items of Company loss, deduction,
or Code Section&nbsp;705 (a) (2) (B)&nbsp;expenditures which are attributable to Member
Nonrecourse Debt for any Fiscal Year or other period shall be specially
allocated to the Member who bears the economic risk of loss with respect to the
Member Nonrecourse Debt to which such items are attributable in accordance with
Regulations Section&nbsp;1.704-2 (i).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Qualified Income Offset. If a Member unexpectedly receives any
adjustments, allocations, or distributions described in Regulations Section
1.704-1 (b) (2) (ii) (d) (4), Regulations Section&nbsp;1.704-1 (b) (2) (ii) (d) (5)
or Regulations Section&nbsp;1.704-1 (b) (2) (ii) (d) (6), or any other event

</FONT>


<P align="center"><FONT size="2">16</FONT>

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<P><FONT size="2">creates a deficit balance in such Member&#146;s Capital Account in excess of
such Member&#146;s share of Company Minimum Gain, items of Company income and gain
shall be specially allocated to such Member in an amount and manner sufficient
to eliminate such excess deficit balance as quickly as possible. Any special
allocations of items of income and gain pursuant to this Section&nbsp;6.2 E shall be
taken into account in computing subsequent allocations of income and gain
pursuant to this Article&nbsp;VI so that the net amount of any item so allocated and
the income, gain, and losses allocated to each Member pursuant to this Article
VI to the extent possible, shall be equal to the net amount that would have
been allocated to each such Member pursuant to the provisions of this Article
VI if such unexpected adjustments, allocations, or distributions had not
occurred.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 Code Section&nbsp;704 (c)&nbsp;Allocations. Notwithstanding any other provision
in this Article&nbsp;VI, in accordance with Code Section&nbsp;704 (c)&nbsp;and the Regulations
promulgated thereunder, income, gain, loss, and deduction with respect to any
property contributed to the capital of the Company shall, solely for tax
purposes, be allocated among the Members so as to take account of any variation
between the adjusted basis of such property to the Company for federal income
tax purposes and its fair market value on the date of contribution.
Allocations pursuant to this Section&nbsp;6.3 are solely for purposes of federal,
state and local taxes. As such, they shall not affect or in any way be taken
into account in computing a Member&#146;s Capital Account or share of profits,
losses, or other items of distributions pursuant to any provision of this
Agreement.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 Allocation of Net Profits and Losses and Distributions in Respect of a
Transferred Interest. If any Economic Interest is transferred, or is increased
or decreased by reason of the admission of a new Member or otherwise, during
any Fiscal Year of the Company, Net Profit or Net Loss for such Fiscal Year
shall be assigned pro rata to each day in the particular period of such Fiscal
Year to which such item is attributable (i.e., the day on or during which it is
accrued or otherwise incurred) and the amount of each such item so assigned to
any such day shall be allocated to the Member or Assignee based upon its
respective Economic Interest at the close of such day.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;However, for the purpose of accounting convenience and simplicity, the
Company shall treat a transfer of, or an increase or decrease in, an Economic
Interest which occurs at any time during a semi-monthly period (commencing with
the semi-monthly period including the date hereof) as having been consummated
on the last day of such semi-monthly period, regardless of when during such
semi-monthly period such transfer, increase, of decrease actually occurs (i.e.,
sales and dispositions made during the first fifteen (15)&nbsp;days of any month
will be deemed to have been made on the 15th day of the month).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any provision above to the contrary, gain or loss of the
Company realized in connection with a sale or other disposition of any of the
assets of the Company shall be allocated solely to the parties owning Economic
Interests as of the date such sale or other disposition occurs.

</FONT>


<P align="center"><FONT size="2">17</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 Distributions.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Operations. Subject to applicable law and any limitations contained
elsewhere in this Agreement, the Manager shall make distributions as follows:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. as to the Class&nbsp;B Member:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. prior to the occurrence of an event giving rise to a purchase right
under Article&nbsp;VII, with respect to each Bakery-Cafe in which the Class&nbsp;B Member
has a Sharing Percentage of more than zero percent (0%), an amount equal to:
(a)&nbsp;the Adjusted Bakery-Cafe Net Profit of such Bakery-Cafe during such period
multiplied by the Applicable Net Profit Allocation Percentage in effect from
time to time during such period, minus (b)&nbsp;the product of $ <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> and the
number of calendar days in such period;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. the share of the Adjusted Bakery-Cafe Net Profits with respect to each
Period (each a &#147;Distribution Period&#148;), shall be distributed to the Class&nbsp;B
Member at the end of the immediately succeeding Distribution Period, except
that the share of the Adjusted Bakery-Cafe Net Profits distributable with
respect to the last Distribution Period prior to the occurrence of an event
giving rise to a purchase right under Article&nbsp;VII, shall be distributed at the
end of the first full payroll period immediately succeeding the date of such
event. The share of Adjusted Bakery-Cafe Net Profits shall be calculated on an
aggregate basis prior to the occurrence of an event giving rise to a purchase
right under Article&nbsp;VII, and on any distribution date (whether during or after
the occurrence of such event), the Class&nbsp;B Member shall only be entitled to
receive the difference between the aggregate share of Adjusted Bakery-Cafe Net
Profits distributable prior to the occurrence of an event giving rise to a
purchase right under Article&nbsp;VII through the end of the applicable Distribution
Period and the aggregate share of Adjusted Bakery-Cafe Net Profits distributed
by Company to the Class&nbsp;B Member through the end of the applicable Distribution
Period. Any change in the Applicable Net Profit Allocation Percentage shall
not affect the calculation of the share of Adjusted Bakery-Cafe Net Profits for
any Distribution Period prior to the date of such change. If following the
occurrence of an event giving rise to a purchase right under Article&nbsp;VII, the
aggregate share of Adjusted Bakery-Cafe Net Profits distributed hereunder
exceeds the aggregate share of Adjusted Bakery-Cafe Net Profits distributable
under this Section (other than as a result of a distribution or calculation
error by the Company or the Manager), the Class&nbsp;B Member shall have no
obligation to refund such excess to Asiago;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. notwithstanding anything to the contrary contained herein, the Class&nbsp;B
Member shall have no right to receive any share of Adjusted Bakery-Cafe Net
Profits under this Section&nbsp;6.5 A with respect to a Bakery-Cafe during any
period in which the Class&nbsp;B Member does not have a Sharing Percentage of more
than zero percent (0%) in such Bakery-Cafe.

</FONT>




<P align="center"><FONT size="2">18</FONT>


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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. except as herein provided and provided in Section&nbsp;6.5 B or Section&nbsp;9.4,
the Class&nbsp;B Member shall not have any right to receive distributions from the
Company; and

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. as to any Class&nbsp;C Member:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. prior to the occurrence of an event giving rise to a purchase right
under Article&nbsp;VII, with respect to the Bakery-Cafe in which a Class&nbsp;C Member
has a Sharing Percentage of more than zero percent (0%), an amount equal to:
(a)&nbsp;the Bakery-Cafe Net Profit of the Bakery-Cafe during such period multiplied
by <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%), minus (b)&nbsp;the product of <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> and the number of calendar days in such period;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. the share of the Bakery-Cafe Net Profits for a Class&nbsp;C Member with
respect to any Distribution Period shall be distributed to such Class&nbsp;C Member
at the end of the immediately succeeding Distribution Period, except that the
share of the Bakery-Cafe Net Profits distributable with respect to the last
Distribution Period prior to the occurrence of an event giving rise to a
purchase right under Article&nbsp;VII with respect to such Class&nbsp;C Member&#146;s
Membership Interest, shall be distributed at the end of the first full payroll
period immediately succeeding the date of such event. The share of Bakery-Cafe
Net Profits for each Class&nbsp;C Member shall be calculated on an aggregate basis
prior to the occurrence of an event giving rise to a purchase right under
Article&nbsp;VII with respect to such Class&nbsp;C Member&#146;s Membership Interest, and on
any distribution date (whether during or after the occurrence of such event),
such Class&nbsp;C Member shall only be entitled to receive the difference between
the aggregate share of Bakery-Cafe Net Profits distributable prior to the
occurrence of an event giving rise to a purchase right under Article&nbsp;VII
through the end of the applicable Distribution Period and the aggregate share
of Bakery-Cafe Net Profits distributed by Company to such Class&nbsp;C Member
through the end of the applicable Distribution Period. If following the
occurrence of an event giving rise to a purchase right under Article&nbsp;VII with
respect to such Class&nbsp;C Member&#146;s Membership Interest, the aggregate share of
Bakery-Cafe Net Profits distributed hereunder to such Class&nbsp;C Member exceeds
the aggregate share of Bakery-Cafe Net Profits distributable under this Section
to such Class&nbsp;C Member (other than as a result of a distribution or calculation
error by the Company or the Manager), such Class&nbsp;C Member shall have no
obligation to refund such excess to Asiago;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. notwithstanding anything to the contrary contained herein, a Class&nbsp;C
Member shall have no right to receive any share of Bakery-Cafe Net Profits
under this Section&nbsp;6.5 A with respect to a Bakery-Cafe during any period in
which such Class&nbsp;C Member does not have a Sharing Percentage of more than zero
percent (0%) in such Bakery-Cafe;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. except as herein provided and provided in Section&nbsp;6.5 B or Section&nbsp;9.4,
a Class&nbsp;C Member shall not have any right to receive distributions from the
Company; and

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. to the Class&nbsp;A Member as the Manager deems appropriate in its sole
discretion.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as herein provided and provided in Section&nbsp;6.5 B or Section&nbsp;9.4,
the Class&nbsp;B Member and the Class&nbsp;C Members shall not have any right to receive
distributions from the Company.

</FONT>


<P align="center"><FONT size="2">19</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Dispositions. Within thirty (30)&nbsp;days following the closing of a
Designated Bakery-Cafe or the closing of a sale or other disposition of a
Designated Bakery-Cafe, the Manager shall distribute the net proceeds from such
disposition to the Class&nbsp;A Member and, if any, the Class&nbsp;B Member and the Class
C Member who have been allocated Net Profit with respect to the disposition of
such Designated Bakery-Cafe, in proportion to their Sharing Percentages with
respect to such Designated Bakery-Cafe; provided however, that the distribution
hereunder to such Class&nbsp;B Member or such Class&nbsp;C Member shall not exceed the
sum of <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>) and the Net Profit allocated to such
Member with respect to such disposition, and any excess amount shall instead be
distributed to the Class&nbsp;A Member.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Holders of Record. All such distributions shall be made only to the
Persons who, according to the books and records of the Company, are the holders
of record of the Economic Interests in respect of which such distributions are
made on the actual date of distribution. Subject to Section&nbsp;6.7, neither the
Company nor the Manager shall incur any liability for making distributions in
accordance with this Section&nbsp;6.5.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 Form of Distribution. A Member, regardless of the nature of the
Member&#146;s Capital Contribution, has no right to demand and receive any
distribution from the Company in any form other than money. Except as provided
in Section&nbsp;9.3, no Member may be compelled to accept from the Company a
distribution of any asset in kind in lieu of a proportionate distribution of
money being made to other Members and no Member may be compelled to accept a
distribution of any asset in kind.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 Restriction on Distributions. No distribution shall be made if, after
giving effect to the distribution, all liabilities of the Company, other than
liabilities to Members on account of their Membership Interests and liabilities
for which the recourse of creditors is limited to specified property of the
Company, exceed the fair value of the assets of the Company, except that the
fair value of property that is subject to a liability for which the recourse of
creditors is limited shall be included in the assets of the Company only to the
extent that the fair value of that property exceeds that liability.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 Return of Distributions. Members and Assignees who receive
distributions made in violation of the Act or this Agreement shall return such
distributions to the Company. Except for those distributions made in violation
of the Act or this Agreement, no Member or Assignee shall be obligated to
return any distribution to the Company or pay the amount of any distribution
for the account of the Company or to any creditor of the Company. The amount
of any distribution returned to the Company by a Member or Assignee or paid by
a Member or Assignee for the account of the Company or to a creditor of the
Company shall be added to the account or accounts from which it was subtracted
when it was distributed to the Member or Assignee.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9 Obligations of Members to Report Allocations. The Members are aware
of the income tax consequences of the allocations made by this Article&nbsp;VI and
hereby agree to be bound by the provisions of this Article&nbsp;VI in reporting
their shares of Company income and loss for income tax purposes.

</FONT>


<P align="center"><FONT size="2">20</FONT>

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<P align="center"><FONT size="2"><B>ARTICLE VII</B>
</FONT>




<P align="center"><FONT size="2"><B>TRANSFER AND ASSIGNMENT OF INTERESTS</B>
</FONT>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 Transfer and Assignment of Interests. The Class&nbsp;B Member and the
Class&nbsp;C Members shall not be entitled to transfer, assign, convey, sell,
pledge, encumber or in any way alienate (whether arising out of an attempted
charge upon the interest of the Class&nbsp;B Member or a Class&nbsp;C Member by judicial
process, a foreclosure by a creditor of the Class&nbsp;B Member or a Class&nbsp;C Member
or otherwise) all or any part of their Membership Interest (collectively,
&#147;transfer&#148;) except with (i)&nbsp;the prior written consent of the Class&nbsp;A Member,
which consent may be given or withheld, conditioned or delayed, as such Member
may determine in its sole and absolute discretion; and (ii)&nbsp;compliance with
all applicable federal and state securities laws. Each Class&nbsp;B Member and
Class&nbsp;C Member acknowledges and agrees that the intent of the parties in
entering into this Agreement is that the Membership Interest of the Class&nbsp;B
Member and the Class&nbsp;C Members not be transferred to any person other than the
Class&nbsp;A Member pursuant to the purchase rights contained in this Article&nbsp;VII.
The Class&nbsp;A Member may freely transfer any or all of its Membership Interests
without obtaining the consent of any other Member and such transferee shall,
upon agreeing to be bound by the terms of this Agreement, automatically become
admitted as a substitute Class&nbsp;A Member and shall have all of the rights and
obligations of a Class&nbsp;A Member. Transfers in violation of this Article&nbsp;VII
shall be void ab initio If there is a transfer of the Membership Interest of
the Class&nbsp;B Member or a Class&nbsp;C Member in violation of this Article&nbsp;VII, the
transferee shall have no right to vote or participate in the management of the
business, property and affairs of the Company or to exercise any rights of a
Member. After the consummation of any transfer of any part of a Membership
Interest of the Class&nbsp;B Member or any Class&nbsp;C Member in accordance with this
Agreement, the Membership Interest so transferred shall continue to be subject
to the terms and provisions of this Agreement and any further transfers shall
be required to comply with all the terms and provisions of this Agreement.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 Substitution of Members. An Assignee of the Class&nbsp;B Member or a Class
C Member shall have the right to become a substitute Member only if the
requirements of Section&nbsp;7.1 are met, the Assignee executes an instrument
satisfactory to the Manager accepting and adopting the terms and provisions of
this Agreement, and the Assignee pays any reasonable expenses in connection
with its admission as a new Member. The admission of an Assignee as a
substitute Member shall not result in the release of the Member who assigned
the Membership Interest from any liability that such Member may have to the
Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 Effective Date of Transfers. Any transfer of all or any portion of a
Membership Interest or an Economic Interest shall be effective as of the date
provided in Section&nbsp;6.4 following the date upon which the requirements of
Section&nbsp;7.1 and Section&nbsp;7.2 have been met. The Manager shall provide the
Members with written notice of such transfer as promptly as possible after the
requirements of Sections&nbsp;7.1 and 7.2 have been met. Any transferee of a
Membership Interest shall take subject to the restrictions on transfer imposed
by this Agreement.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 Rights of Legal Representatives. If a Member who is an individual
dies or is adjudged by a court of competent jurisdiction to be incompetent to
manage the Member&#146;s person or property, the Member&#146;s executor, administrator,
guardian, conservator, or other legal representative may exercise all of the
Member&#146;s rights for the purpose of settling the Member&#146;s estate or
administering the Member&#146;s property. If a Member is a corporation, trust,
partnership, limited liability company or other entity and is dissolved or
terminated, the powers of that Member may be exercised by its legal
representative or successor.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 Mandatory Purchase upon Termination of Term of the Class&nbsp;B Member&#146;s or
a Class&nbsp;C Member Employment Agreement or the Class&nbsp;B Member&#146;s or a Class&nbsp;C
Member&#146;s Bankruptcy. Asiago shall purchase, and the Class&nbsp;B Member or a Class
C Member, as the case may be, shall sell, all of the Class&nbsp;B Member&#146;s
Membership Interest or such Class&nbsp;C Member&#146;s Membership Interest, as the case
may be, subject to Section&nbsp;7.10 herein, upon (a)&nbsp;the termination of the term of
the Class&nbsp;B Member

</FONT>


<P align="center"><FONT size="2">21</FONT>

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<P><FONT size="2">Employment Agreement or such Class&nbsp;C Member Employment Agreement, as the
case may be, or (b)&nbsp;the Bankruptcy of the Class&nbsp;B Member or such Class&nbsp;C
Member. The purchase price for the Membership Interest of the Class&nbsp;B Member
shall be equal to the sum of the purchase prices for the Sharing Percentage of
more than zero percent (0%) associated with each Bakery-Cafe then managed by
the Class&nbsp;B Member, as determined separately with respect to each Sharing
Percentage of more than zero percent (0%) associated with a Bakery-Cafe
pursuant to Section&nbsp;7.8, as of the date of the termination of the term of the
Class&nbsp;B Member Employment Agreement or the Bankruptcy of the Class&nbsp;B Member.
The purchase price for the Membership Interest of a Class&nbsp;C Member shall be as
set forth in Section&nbsp;7.9 as of the date of the termination of the term of such
Class&nbsp;C Member Employment Agreement or the Bankruptcy of such Class&nbsp;C Member.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 Asiago Purchase Right. In the event that at any time which is at
least five (5)&nbsp;years from the opening of a Bakery-Cafe, Asiago notifies the
Class&nbsp;B Member or a Class&nbsp;C Member in writing of its election to exercise its
purchase right under this Section with respect to such Bakery-Cafe; then,
Asiago shall, subject to Section&nbsp;7.10 herein, purchase from the Class&nbsp;B Member
or such Class&nbsp;C Member, and the Class&nbsp;B Member or such Class&nbsp;C Member shall
sell to Asiago, the Class&nbsp;B Member&#146;s Sharing Percentage of more than zero
percent (0%) with respect to such Bakery-Cafe or such Class&nbsp;C Member&#146;s
Membership Interest, as the case may be, for a purchase price determined in
accordance with Section&nbsp;7.8 for the Class&nbsp;B Member and Section&nbsp;7.9 for such
Class&nbsp;C Member herein. In the event of a purchase of the Class&nbsp;B Member&#146;s
Sharing Percentage of more than zero percent (0%) with respect to such
Bakery-Cafe, the portion of the Membership Interest to be purchased shall be a
Capital Account balance of <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>) and the Class&nbsp;B
Member&#146;s Sharing Percentage of more than zero percent (0%) with respect to such
Bakery-Cafe together with all distribution, allocation and other rights
relating thereto; the Class&nbsp;B Member shall retain any remaining Capital Account
balance and Sharing Percentages with respect to any Bakery-Cafes for which the
purchase right has not been exercised; and Asiago shall continue to have the
right to exercise the purchase right under this Section&nbsp;7.6 with respect to the
remaining Sharing Percentages.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7 The Class&nbsp;B Member or a Class&nbsp;C Member Put Right. In the event that
the Class&nbsp;B Member or a Class&nbsp;C Member, at any time which is at least five (5)
years from the opening of a Bakery-Cafe, notifies Asiago of his election to
exercise his sale rights under this Section with respect to such Bakery-Cafe;
then, the Class&nbsp;B Member or such Class&nbsp;C Member, as the case may be, shall,
subject to the remaining terms of this Agreement, sell to Asiago, and Asiago
shall purchase from the Class&nbsp;B Member or such Class&nbsp;C Member, as the case may
be, the Class&nbsp;B Member&#146;s Sharing Percentage of more than zero percent (0%) with
respect to such Bakery-Cafe or such Class&nbsp;C Member&#146;s Membership Interest, as
the case may be, for a purchase price determined in accordance with Section&nbsp;7.8
for the Class&nbsp;B Member and Section&nbsp;7.9 for such Class&nbsp;C Member herein. In the
event of a purchase of the Class&nbsp;B Member&#146;s Sharing Percentage of more than
zero percent (0%) with respect to such Bakery-Cafe, the portion of the
Membership Interest to be purchased shall be a Capital Account balance of
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>) and the Class&nbsp;B Member&#146;s Sharing Percentage of
more than zero percent (0%) with respect to such Bakery-Cafe together with all
distribution, allocation and other rights relating thereto; the Class&nbsp;B Member
shall retain any remaining Capital Account balance and Sharing Percentages with
respect to any Bakery-Cafes for which the purchase right has not been
exercised; and Asiago shall continue to have the right to exercise the purchase
right under this Section&nbsp;7.7 with respect to the remaining Sharing Percentages.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, if any of the other purchase rights under
this Agreement have been exercised, the right under this Section&nbsp;7.7 shall not
be exercisable unless and until Asiago defaults in the performance of its
purchase obligations thereunder other than as a result of a default by the
Class&nbsp;B Member or such Class&nbsp;C Member.

</FONT>


<P align="center"><FONT size="2">22</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8 Class&nbsp;B Member Purchase Price. The Class&nbsp;B Member acknowledges and
agrees that the method for determining the purchase price applicable to the
Sharing Percentage associated with Bakery-Cafes will vary from Bakery-Cafe to
Bakery-Cafe depending upon the amount of time that a Bakery-Cafe has been open
for operations and the event giving rise to the purchase or sale right under
this Agreement. The Class&nbsp;B Member further acknowledges and agrees that the
methods are reasonable and fair under the circumstances existing as of the date
hereof. The purchase price with respect to the Sharing Percentage associated
with each Bakery-Cafe shall be determined as follows:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; If the term of employment under the Class&nbsp;B Member Employment
Agreement terminates for Cause (for the purposes of this Section&nbsp;7.8, as such
term is defined in the Class&nbsp;B Member Employment Agreement) at any time, the
purchase price shall be <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>) for the Sharing
Percentage of more than zero percent (0%) associated with each such
Bakery-Cafe.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; If within five (5)&nbsp;years of the opening of a Bakery-Cafe, the term of
employment under the Class&nbsp;B Member Employment Agreement terminates for any
reason other than Cause, death or Disability (for the purposes of this Section
7.8, as such term is defined in the Class&nbsp;B Member Employment Agreement), or
if, prior to the opening of a Bakery-Cafe, the Term of Employment terminates as
a result of death or Disability, or the Bankruptcy of the Class&nbsp;B Member
occurs, then the purchase price for the Sharing Percentage of more than zero
percent (0%) associated with such Bakery-Cafe shall be <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars
($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>) plus simple interest thereon at the rate of five percent (5%) per
annum from the date that the Class&nbsp;B Member made his capital contribution to
the Company with respect to the Sharing Percentage of more than zero percent
(0%) associated with such Bakery-Cafe until the date of the event giving rise
to the purchase right.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; If, within five (5)&nbsp;years of the opening of a Bakery-Cafe, the term of
employment under the Class&nbsp;B Member Employment Agreement terminates as a result
of death or Disability or the Bankruptcy of the Class&nbsp;B Member occurs, the
purchase price for the Sharing Percentage of more than zero percent (0%)
associated with such Bakery-Cafe shall be the fair market value (the &#147;Sharing
Percentage Fair Market Value&#148;) of such Sharing Percentage determined in the
following manner:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;The Class&nbsp;B Member and Asiago shall attempt to agree upon the Sharing
Percentage Fair Market Value within thirty (30)&nbsp;days after the date of the
event resulting in the exercise of a purchase right. Such Sharing Percentage
Fair Market Value shall be determined solely by reference to such Bakery-Cafe
in which the Class&nbsp;B Member has a Sharing Percentage on the assumptions that
such Bakery-Cafe shall continue to be operated as a Bakery-Cafe, and without
discounting for lack of control or marketability. Accordingly, in determining
the Sharing Percentage Fair Market Value, the parties (and if appraisers are
appointed, the appraisers) shall not consider, take into account or attribute
any value to (and any appraisers shall be so instructed in writing by the
parties) any goodwill or other value attributable to Panera&#146;s system or
trademarks (other than the right to utilize the system and trademarks in the
operation of such Bakery-Cafe, no value shall be attributed to any other
Bakery-Cafe or restaurant or asset of Asiago, no value shall be attributed to
development rights, and no alternative use for such assets shall be considered.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;If the Class&nbsp;B Member and Asiago cannot agree upon the Sharing
Percentage Fair Market Value within such thirty (30)&nbsp;day period, they shall
jointly agree upon a mutually acceptable appraiser within fifteen (15)&nbsp;days
thereafter, or, in the event the parties fail to so agree, each party shall
appoint an appraiser with the qualifications described in subsection (v)&nbsp;within
twenty (20)&nbsp;days following the end of such thirty (30)&nbsp;day period. If either
party fails to appoint an appraiser within the twenty (20)&nbsp;day period specified
herein, the sole appraiser appointed within such twenty (20)&nbsp;day period shall
be the sole appraiser for the purposes of determining the Sharing Percentage
Fair Market

</FONT>


<P align="center"><FONT size="2">23</FONT>

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<P><FONT size="2">Value as described in subsection (i)&nbsp;the Class&nbsp;B Member and Asiago shall
promptly provide notice of the name of the appraiser so appointed by such party
to the other. A third appraiser, if the initial two appraisers are appointed,
shall be appointed by the mutual agreement of the first two appraisers so
appointed, or, if such first two appraisers fail to agree upon a third
appraiser within thirty (30)&nbsp;days following their appointment, either the Class
B Member or Asiago may demand the appointment of an appraiser be made by the
then director of the Regional Office of the American Arbitration Association
located nearest to the Company&#146;s then current principal office, in which event
the appraiser appointed thereby shall be the third appraiser. Each of the
appraisers shall submit to the Class&nbsp;B Member and Asiago, within thirty (30)
days after the final appraiser has been appointed, a written appraisal of the
Sharing Percentage Fair Market Value prepared in accordance with subsection
(i).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;If three appraisers are appointed, the Sharing Percentage Fair
Market Value shall be equal to the numerical average of three appraised
determinations; provided, however, that if the difference between any two
appraisals is not more than ten percent (10%) of the lower of the two, and the
third appraisal differs by more than twenty-five percent (25%) of the lower of
the other two appraisals, the numerical average of such two appraisals shall be
determinative. The amount so determined shall be the Sharing Percentage Fair
Market Value.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;In connection with any appraisal conducted pursuant to this
Agreement, the parties hereto agree that any appraiser appointed hereunder
shall be given full access during normal business hours to all information
required and relevant to a valuation of the applicable Bakery-Cafe.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;Any appraiser, to be qualified to conduct an appraisal hereunder,
shall be an independent appraiser (i.e., not affiliated with the Company,
Asiago, Panera or the Class&nbsp;B Member), an M.A.I. appraiser or its equivalent,
and shall be reasonably competent as an expert to appraise the value of the
applicable Bakery-Cafe. If any appraiser initially appointed under this
Agreement shall, for any reason, be unable to serve, a successor appraiser
shall be promptly appointed in accordance with the procedures pursuant to which
the predecessor appraiser was appointed.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;The cost of the appraiser appointed by each party shall be borne by
each such party. The cost of the third appraiser, if any, or the sole
appraiser, in the event that the Class&nbsp;B Member and Asiago agree upon a single
appraiser, shall be borne by Asiago.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp; If, at least five (5)&nbsp;years after the opening of a Bakery-Cafe, Asiago
exercises its purchase right under Section&nbsp;7.6 with respect to the Sharing
Percentage of more than zero percent (0%) associated with such Bakery-Cafe or
terminates the Class&nbsp;B Member for any reason other than Cause, the purchase
price for the Sharing Percentage of more than zero percent (0%) associated with
such Bakery-Cafe shall be (i)&nbsp;the aggregate Adjusted Bakery-Cafe Net Profit of
such Bakery-Cafe for the twenty-six (26)&nbsp;Periods immediately preceding the
Period in which Asiago notifies the Class&nbsp;B Member of the exercise of such
purchase right or termination, divided by 2, (ii)&nbsp;multiplied by 6.0, and (iii)
multiplied by <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%). By way of example, if all Bakery-Cafes have
been open for at least five (5)&nbsp;years, and the Adjusted Bakery-Cafe Net Profit
for the twenty-six (26)&nbsp;Periods immediately preceding the Period in which
Asiago notifies the Class&nbsp;B Member of the exercise of the purchase right
hereunder is $2,000,000, the purchase price would be equal to $2,000,000
divided by 2 multiplied by 6.0 multiplied by <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%), or
$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp; If at least five (5)&nbsp;years after the opening of a Bakery-Cafe, the
Class&nbsp;B Member voluntarily ceases, resigns or terminates his employment with
Asiago, or his death, Disability or Bankruptcy occurs, or the Class&nbsp;B Member
notifies Asiago of his election to exercise his sale rights under Section&nbsp;7.7
with respect to his Sharing Percentage of more than zero percent (0%) in a

</FONT>


<P align="center"><FONT size="2">24</FONT>

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<P><FONT size="2">Bakery-Cafe, the purchase price for the Sharing Percentage of more than zero
percent (0%) associated with such Bakery-Cafe, shall be equal to the following:
(i)&nbsp;the aggregate Adjusted Bakery-Cafe Net Profit of such Bakery-Cafe for the
twenty-six (26)&nbsp;Periods immediately preceding the Period in which such
termination or notice occurs, divided by 2, (ii)&nbsp;multiplied by 5.0, and (iii)
multiplied by <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9 Class&nbsp;C Member Purchase Price. The purchase price for the Membership
Interest of a Class&nbsp;C Member shall be determined as follows:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; If such Class&nbsp;C Member&#146;s term of employment under his Class&nbsp;C Member
Employment Agreement terminates for Cause (for purposes of this Section&nbsp;7.9, as
such term is defined in such Class&nbsp;C Member Employment Agreement) at any time,
the purchase price shall be <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; If within five (5)&nbsp;years of the opening of the Bakery-Cafe in which
such Class&nbsp;C Member has a Sharing Percentage of more than zero percent (0%),
such Class&nbsp;C Member&#146;s term of employment under his Class&nbsp;C Member Employment
Agreement terminates for any reason other than Cause, death or Disability (for
purposes of this Section&nbsp;7.9, as such term is defined in such Class&nbsp;C Member
Employment Agreement), or if, prior to the opening of the Bakery-Cafe, such
term of employment terminates as a result of death or Disability, or the
Bankruptcy of such Class&nbsp;C Member occurs, then the purchase price shall be
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> Dollars ($<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>) plus simple interest thereon at the rate of
five percent (5%) per annum from the date that such Class&nbsp;C Member made his
capital contribution to the Company until the date of the event giving rise to
the purchase right.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; If, within five (5)&nbsp;years of the opening of the Bakery-Cafe in which
such Class&nbsp;C Member has a Sharing Percentage of more than zero percent (0%),
such term of employment terminates as a result of death or Disability or the
Bankruptcy of such Class&nbsp;C Member occurs, the purchase price shall be the fair
market value (the &#147;Class&nbsp;C Interest Fair Market Value&#148;) of the Membership
Interest determined in the following manner:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;Such Class&nbsp;C Member and Asiago shall attempt to agree upon the Class&nbsp;C
Interest Fair Market Value within thirty (30)&nbsp;days after the date of the event
resulting in the exercise of a purchase right. Such Class&nbsp;C Interest Fair
Market Value shall be determined solely by reference to the Bakery-Cafe on the
assumptions that the Bakery-Cafe shall continue to be operated as a
Bakery-Cafe, and without discounting for lack of control or marketability.
Accordingly, in determining the Class&nbsp;C Interest Fair Market Value, the parties
(and if appraisers are appointed, the appraisers) shall not consider, take into
account or attribute any value to (and any appraisers shall be so instructed in
writing by the parties) any goodwill or other value attributable to Panera&#146;s
system or trademarks (other than the right to utilize the system and trademarks
in the operation of the Bakery-Cafe), no value shall be attributed to any other
bakery-cafe or restaurant or asset of Asiago or the Company, no value shall be
attributed to development rights, and no alternative use for such assets shall
be considered.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;If such Class&nbsp;C Member and Asiago cannot agree upon the Class&nbsp;C
Interest Fair Market Value within such thirty (30)&nbsp;day period, they shall
jointly agree upon a mutually acceptable appraiser within fifteen (15)&nbsp;days
thereafter, or, in the event the parties fail to so agree, each party shall
appoint an appraiser with the qualifications described in subsection (v)&nbsp;within
twenty (20)&nbsp;days following the end of such thirty (30)&nbsp;day period. If either
party fails to appoint an appraiser within the twenty (20)&nbsp;day period specified
herein, the sole appraiser appointed within such twenty (20)&nbsp;day period shall
be the sole appraiser for the purposes of determining the Class&nbsp;C Interest Fair
Market Value as described in subsection (i). Such Class&nbsp;C Member and Asiago
shall promptly provide notice of

</FONT>


<P align="center"><FONT size="2">25</FONT>

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<P><FONT size="2">the name of the appraiser so appointed by such party to the other. A
third appraiser, if the initial two appraisers are appointed, shall be
appointed by the mutual agreement of the first two appraisers so appointed, or,
if such first two appraisers fail to agree upon a third appraiser within thirty
(30)&nbsp;days following their appointment, either such Class&nbsp;C Member or Asiago may
demand the appointment of an appraiser be made by the then director of the
Regional Office of the American Arbitration Association located nearest to the
Company&#146;s then current principal office, in which event the appraiser appointed
thereby shall be the third appraiser. Each of the appraisers shall submit to
such Class&nbsp;C Member and Asiago, within thirty (30)&nbsp;days after the final
appraiser has been appointed, a written appraisal of the Class&nbsp;C Interest Fair
Market Value prepared in accordance with subsection (i).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;If three appraisers are appointed, the Class&nbsp;C Interest Fair Market
Value shall be equal to the numerical average of three appraised
determinations; provided, however, that if the difference between any two
appraisals is not more than ten percent (10%) of the lower of the two, and the
third appraisal differs by more than twenty-five percent (25%) of the lower of
the other two appraisals, the numerical average of such two appraisals shall be
determinative. The amount so determined shall be the Class&nbsp;C Interest Fair
Market Value.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;In connection with any appraisal conducted pursuant to this
Agreement, the parties hereto agree that any appraiser appointed hereunder
shall be given full access during normal business hours to all information
required and relevant to a valuation of the Bakery-Cafe.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;Any appraiser, to be qualified to conduct an appraisal hereunder,
shall be an independent appraiser (i.e., not affiliated with the Company,
Asiago, Panera or such Class&nbsp;C Member), an M.A.I. appraiser or its equivalent,
and shall be reasonably competent as an expert to appraise the value of the
Bakery-Cafe. If any appraiser initially appointed under this Agreement shall,
for any reason, be unable to serve, a successor appraiser shall be promptly
appointed in accordance with the procedures pursuant to which the predecessor
appraiser was appointed.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;The cost of the appraiser appointed by each party shall be borne by
each such party. The cost of the third appraiser, if any, or the sole
appraiser, in the event that such Class&nbsp;C Member and Asiago agree upon a single
appraiser, shall be borne by Asiago.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp; If, at least five (5)&nbsp;years after the opening of the Bakery-Cafe in
which a Class&nbsp;C Member has a Sharing Percentage of more than zero percent (0%),
Asiago exercises its purchase right under Section&nbsp;7.6 or terminates such Class
C Member for any reason other than Cause, the purchase price shall be (i)&nbsp;the
aggregate Bakery-Cafe Net Profit of the Bakery-Cafe for the twenty-six (26)
Periods immediately preceding the Period in which Asiago notifies such Class&nbsp;C
Member of the exercise of such purchase right or termination, divided by 2,
(ii)&nbsp;multiplied by 6.0, and (iii)&nbsp;multiplied by <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%). By way
of example, if the Bakery-Cafe has been open for at least five (5)&nbsp;years, the
Membership Interest of such Class&nbsp;C Member is being purchased and the
Bakery-Cafe Net Profit for the twenty-six (26)&nbsp;Periods immediately preceding
the Period in which Asiago notifies such Class&nbsp;C Member of the exercise of the
purchase right hereunder is $1,000,000, the purchase price would be equal to
$1,000,000 divided by 2 multiplied by 6.0 multiplied by <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%),
or $<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp; If at least five (5)&nbsp;years from the opening of the Bakery-Cafe in
which a Class&nbsp;C Member has a Sharing Percentage of more than zero percent (0%),
such Class&nbsp;C Member voluntarily ceases, resigns or terminates his employment
with Asiago, or his death or Disability or Bankruptcy occurs, or such Class&nbsp;C
Member notifies Asiago of his election to exercise his sale rights under
Section&nbsp;7.7, the purchase price shall be equal to the following: (i)&nbsp;the
aggregate Bakery-Cafe Net Profit of the Bakery-Cafe for the twenty-six (26)
Periods immediately preceding the Period in which such termination

</FONT>


<P align="center"><FONT size="2">26</FONT>

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<P><FONT size="2">or notice occurs, divided by 2, (ii)&nbsp;multiplied by 5.0, and (iii)&nbsp;multiplied by
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> percent (<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>%).

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10 Closing of Purchase. The closing for the purchase and sale described
in Section&nbsp;7.5, Section&nbsp;7.6 or Section&nbsp;7.7 shall be held at 10:00&nbsp;a.m. at the
principal office of Asiago no later than thirty (30)&nbsp;days after the
determination of the purchase price, except that if the closing date falls on a
Saturday, Sunday, or legal holiday, then the closing shall be held on the next
succeeding business day. At the closing, the Class&nbsp;B Member or such Class&nbsp;C
Member shall execute and deliver to Asiago such documents, affidavits, general
releases and instruments of conveyance as are necessary, in the opinion of
legal counsel for the purchasing party, to release Asiago, Panera, the Company
and their affiliates from any claim of the Class&nbsp;B Member or such Class&nbsp;C
Member and to transfer, convey and validly vest in Asiago good, marketable and
absolute title to all of the Membership Interest (or Sharing Percentage and
portion of the Capital Account balance) being conveyed free and clear of any
lien, claim, pledge, security interest, equities or other encumbrance or
interest of any kind or character whatsoever, and Asiago shall pay the
applicable purchase price to the Class&nbsp;B Member or such Class&nbsp;C Member.

</FONT>


<P align="center"><FONT size="2"><B>ARTICLE VIII</B>
</FONT>




<P align="center"><FONT size="2"><B>ACCOUNTING, RECORDS, REPORTING BY MEMBERS</B>
</FONT>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 Books and Records. The books and records of the Company shall be
kept, and the financial position and the results of its operations recorded, in
accordance with generally accepted accounting principles consistently applied.
The books and records of the Company shall reflect all the Company transactions
and shall be appropriate and adequate for the Company&#146;s business. The Company
shall maintain at its principal office all of the following:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. A current list of the full name and last known business or residence
address of each Member and Assignee, together with the current Capital
Contributions, Capital Account and Sharing Percentages of each Member;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. A current list of the full name and business or residence address of
the Manager;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. A copy of the Certificate and any and all amendments thereto together
with executed copies of any powers of attorney pursuant to which the
Certificate or any amendments thereto have been executed;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Copies of the Company&#146;s federal, state, and local income tax or
information returns and reports, if any, for the six (6)&nbsp;most recent taxable
years;

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. A copy of this Agreement and any and all amendment thereto together
with executed copies of any powers of attorney pursuant to which this Agreement
or any amendments hereto have been executed; and

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. The Company&#146;s books and records as they relate to the internal affairs
of the Company for at least the current and past four (4)&nbsp;Fiscal Years.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 Delivery to Members.

</FONT>


<P align="center"><FONT size="2">27</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Member has the right, upon reasonable request for purposes reasonably
related to the interest of the Person as Member, to:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;obtain from the Manager a copy of the records described in Sections
8.1A through E and such other information as may be required by law; and

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;obtain from the Manager, promptly after their becoming available, a
copy of the Company&#146;s federal, state, and local income tax or information
returns for each Fiscal Year.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any request by a Member under this Section&nbsp;8.2 may be made by that Person
or that Person&#146;s agent or attorney. Notwithstanding anything to the contrary
continued in this Agreement, the Manager shall have the right to keep
confidential from the Members, for such period of time as the Manager deems
reasonable, any information which the Manager reasonably believes to be in the
nature of trade secrets or other information the disclosure of which the
Manager in good faith believes is not in the best interest of the Company or
could damage the Company or its business or which the Company is required by
law or by agreement with a third party to keep confidential.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 Annual Statements. The Manager shall cause to be prepared at least
annually, at Company expense, information necessary for the preparation of the
Members&#146; and Assignees&#146; federal and state income tax returns. The Manager
shall send or cause to be sent to each Member or Assignee within ninety (90)
days after the end of each taxable year such information as is necessary to
complete federal and state income tax or information returns.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 Filings. The Manager, at Company expense, shall cause the income tax
returns for the Company to be prepared and timely filed with the appropriate
authorities. The Manager, at Company expense, shall also cause to be prepared
and timely filed, with appropriate federal and state regulatory and
administrative bodies, amendments to, or restatements of, the Certificate and
all reports required to be filed by the Company with those entities under the
Act or other then current applicable laws, rules, and regulations.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5 Bank Accounts. The Manager shall maintain the funds of the Company in
one or more separate bank accounts in the name of the Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6 Accounting Decisions and Reliance on Others. All decisions as to
accounting matters, except as otherwise specifically set forth herein, shall be
made by the Manager. The Manager may rely upon the advice of its accountants
as to whether such decisions are in accordance with accounting methods followed
for federal income tax purposes.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7 Tax Matters for the Company Handled by Manager and Tax Matters
Partner. The Manager shall from time to time cause the Company to make such
tax elections as it deems to be in the best interests of the Company and the
Members. The Tax Matters Partner shall represent the Company (at the Company&#146;s
expense) in connection with all examinations of the Company&#146;s affairs by tax
authorities, including resulting judicial and administrative proceedings, and
shall expend the Company funds for professional services and costs associated
therewith. The Tax Matters Partner shall oversee the Company&#146;s tax affairs in
the overall best interests of the Company. If for any reason the Tax Matters
Partner can no longer serve in that capacity or ceases to be a Member or
Manager, as the case may be, the Class&nbsp;A Member may designate another Person to
be Tax Matters Partner.

</FONT>


<P align="center"><FONT size="2">28</FONT>

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<P align="center"><FONT size="2"><B>ARTICLE IX</B>
</FONT>




<P align="center"><FONT size="2"><B>DISSOLUTION AND WINDING UP</B>
</FONT>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 Dissolution. The Company shall be dissolved, its assets shall be
disposed of, and its affairs wound up on the first to occur of the following:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The entry of a decree of judicial dissolution; or

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The sale of all or substantially all of the assets of Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dissolution shall not occur upon the occurrence of any other event.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 Winding-Up. Upon the occurrence of any event specified in Section
9.1, the Company shall continue solely for the purpose of winding up its
affairs in an orderly manner, liquidating its assets, and satisfying the claims
of its creditors. The Manager shall be responsible for overseeing the winding
up and liquidation of Company, shall take full account of the liabilities of
Company and assets, shall either cause its assets to be sold or distributed,
and if sold shall cause the proceeds therefrom, to the extent sufficient
therefor, to be applied and distributed as provided in Section&nbsp;9.4. The
Persons winding up the affairs of the Company shall give written notice of the
commencement of winding up by mail to all known creditors and claimants whose
addresses appear on the records of the Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 Distributions in Kind. Upon dissolution, Asiago shall have the right
to elect to receive a distribution of the Bakery-Cafe owned by the Company.
The Class&nbsp;B Member and the Class&nbsp;C Members shall have no right to receive any
Bakery-Cafe as a result of the Company&#146;s dissolution. Any non-cash asset
distributed to one or more Members shall first be valued at its fair market
value to determine the Net Profit or Net Loss that would have resulted if such
asset were sold for such value, such Net Profit or Net Loss shall then be
allocated pursuant to Article&nbsp;VI, and the Members&#146; Capital Accounts shall be
adjusted to reflect such allocations. The amount distributed and charged to
the Capital Account of each Member receiving an interest in such distributed
asset shall be the fair market value of such asset (net of any liability
secured by such asset that such Member assumes or takes subject to) taking into
account the use of the Company&#146;s assets as franchises of Panera. The fair
market value of such asset shall be determined by the Manager.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 Order of Payment Upon Dissolution. After determining that all known
debts and liabilities of the Company, including, without limitation, debts and
liabilities to Members who are creditors of the Company, have been paid or
adequately provided for, the remaining assets shall be distributed to the
Members in accordance with their positive Capital Account balances, after
taking into account income and loss allocations for the Company&#146;s taxable year
during which liquidation occurs. Such liquidating distributions shall be made
by the end of the Company&#146;s taxable year in which the Company is liquidated,
or, if later, within ninety (90)&nbsp;days after the date of such liquidation.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 Limitations on Payments Made in Dissolution. Each Member shall only
be entitled to look solely at the assets of the Company for the return of its
positive Capital Account balance and shall have no recourse for its Capital
Contribution and/or share of Net Profits (upon dissolution or otherwise)
against the Manager or any other Member.

</FONT>


<P align="center"><FONT size="2">29</FONT>

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<P align="center"><FONT size="2"><B>ARTICLE X</B>
</FONT>




<P align="center"><FONT size="2"><B>INDEMNIFICATION AND INSURANCE</B>
</FONT>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 Indemnification of Agents. The Company shall defend and indemnify
any Member or Manager and may indemnify any other Person who was or is a party
or is threatened to be made a party to any threatened, pending or completed
action, suit or proceeding by reason of the fact that he or she is or was a
Member, Manager, officer, employee or other agent of the Company or that, being
or having been such a Member, Manager, officer, employee or agent, he or she is
or was serving at the request of the Company as a Manager, director, officer,
employee or other agent of another limited liability company, corporation,
partnership, joint venture, trust or other enterprise (all such persons being
referred to hereinafter as an &#147;agent&#148;), to the fullest extent permitted by
applicable law in effect on the date hereof and to such greater extent as
applicable law may hereafter from time to time permit. The Manager shall be
authorized, on behalf of the Company, to enter into indemnity agreements from
time to time with any Person entitled to be indemnified by the Company
hereunder, upon such terms and conditions as the Manager deems appropriate in
their business judgment.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 Insurance. The Company shall have the power to purchase and maintain
insurance on behalf of any Person who is or was an agent of the Company against
any liability asserted against such Person and incurred by such Person in any
such capacity, or arising out of such Person&#146;s status as an agent, whether or
not the Company would have the power to indemnify such Person against such
liability under the provisions of Section&nbsp;10.1 or under applicable law.

</FONT>


<P align="center"><FONT size="2"><B>ARTICLE XI</B>
</FONT>




<P align="center"><FONT size="2"><B>CONFIDENTIALITY AND NON-COMPETITION</B>
</FONT>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 Noncompetition. So long as the Class&nbsp;B Member or a Class&nbsp;C Member is
a Member or employee of Asiago or its Affiliates, and for the Class&nbsp;B Member,
for the fifty-two (52)&nbsp;weeks thereafter, the Class&nbsp;B Member and a Class&nbsp;C
Member shall not, anywhere in the world, individually or jointly with others,
directly or indirectly, whether for their own account or for that of any other
Person, operate, engage in, own or hold any ownership interest in, have any
interest in or lend any assistance to, any Competitive Activity.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 Confidentiality.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Definition. For the purpose of this Agreement, &#147;Proprietary
Information&#148; shall include all information designated by the Company or the
Manager, either orally or in writing, as confidential or proprietary, or which
reasonably would be considered proprietary or confidential to the business of
the Company, including but not limited to suppliers, customers, trade or
industrial practices, marketing and technical plans, technology, personnel,
organization or internal affairs, plans for products and ideas, recipes, menus,
wine lists and proprietary techniques and other trade secrets. Notwithstanding
the foregoing, &#147;Proprietary Information&#148; shall not include information which
(i)&nbsp;has entered the public domain or became known other than due to a breach of
any obligation of confidentiality owed to the owner of such information; (ii)
was known prior to the disclosure of such information other than a result of
rendering services for Asiago, Panera or their Affiliates; (iii)&nbsp;became known
to the recipient from a source other than a Member or its Affiliate, provided
there was no breach of an obligation of confidentiality owed to said Member or
its Affiliate; or (iv)&nbsp;was independently


<P align="center"><FONT size="2">30</FONT>

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</FONT>


<P><FONT size="2">developed by the party receiving such information other than a result of
rendering services for Asiago, Panera or their Affiliates.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. No Disclosure, Use, or Circumvention. The Class&nbsp;B Member and each
Class&nbsp;C Member shall not disclose any Proprietary Information to any third
parties and will not use any Proprietary Information in that Member&#146;s or
Affiliate&#146;s business or any affiliated business without the prior written
consent of the Manager, and then only to the extent specified in that consent.
Consent may be granted or withheld at the sole discretion of the Manager. No
Member shall contact any suppliers, customers, employees, affiliates or
associates to circumvent the purposes of this provision.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Maintenance of Confidentiality. The Class&nbsp;B Member and each Class&nbsp;C
Member shall take all steps reasonably necessary or appropriate to maintain the
strict confidentiality of the Proprietary Information and to assure compliance
with this Agreement.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 Non-Solicitation. During the term of this Agreement and, with
respect to the Class&nbsp;B Member and each Class&nbsp;C Member, for a period of twenty
four (24)&nbsp;months following such Member&#146;s termination of employment with Asiago
for any reason or for no reason, neither the Class&nbsp;B Member nor such Class&nbsp;C
Member, as the case may be, shall offer employment to, or hire, any employee of
the Company, Asiago, Panera or their Affiliates, or of a franchisee of Panera&#146;s
or its Affiliates, or otherwise solicit or induce any employee of any of them
to terminate their employment, nor shall any of such Members act as an officer,
director, employee, partner, independent contractor, consultant, principal,
agent, proprietor, owner or part owner, or in any other capacity, for any
person or entity which solicits or otherwise induces any employee of the
Company Asiago, or Panera or their Affiliates, to terminate their employment
with such entity.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 Reasonableness of Restrictions; Reformation; Enforcement. The
parties hereto recognize and acknowledge that the geographical and time
limitations contained in Section&nbsp;11.1, Section&nbsp;11.2 and Section&nbsp;11.3 hereof are
reasonable and properly required for the adequate protection of the Company&#146;s
and Members&#146; interests. It is agreed by the parties hereto that if any portion
of the restrictions contained in Section&nbsp;11.1, Section&nbsp;11.2 or Section&nbsp;11.3 are
held to be unreasonable, arbitrary, or against public policy, then the
restrictions shall be considered divisible, both as to the time and to the
geographical area, with each month of the specified period being deemed a
separate period of time and each radius mile of the restricted territory being
deemed a separate geographical area, so that the lesser period of time or
geographical area shall remain effective so long as the same is not
unreasonable, arbitrary, or against public policy. The parties hereto agree
that in the event any court of competent jurisdiction determines the specified
period or the specified geographical area of the restricted territory to be
unreasonable, arbitrary, or against public policy, a lesser time period or
geographical area which is determined to be reasonable, nonarbitrary, and not
against public policy may be enforced. If any of the covenants contained
herein are violated and if any court action is instituted by the Company or a
Member to prevent or enjoin such violation, then the period of time during
which the business activities shall be restricted, as provided in this
Agreement, shall be lengthened by a period of time equal to the period between
the date of the breach of the terms or covenants contained in this Agreement
and the date on which the decree of the court disposing of the issues upon the
merits shall become final and not subject to further appeal.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event it is necessary for the Company or the Class&nbsp;A Member to
initiate legal proceedings to enforce, interpret or construe any of the
covenants contained in Section&nbsp;11.1, Section&nbsp;11.2 or Section&nbsp;11.3 hereof, the
prevailing party in such proceedings shall be entitled to receive from the
non-prevailing party, in addition to all other remedies, all costs, including
reasonable attorneys&#146; fees, of such proceedings including appellate
proceedings.

</FONT>


<P align="center"><FONT size="2">31</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5 Specific Performance. The parties agree that a breach of any of the
covenants contained Section&nbsp;11.1, Section&nbsp;11.2 and Section&nbsp;11.3 hereof will
cause irreparable injury to the Company or a Member for which the remedy at law
will be inadequate and would be difficult to ascertain and therefore, in the
event of the breach or threatened breach of any such covenants, the Company or
injured Member shall be entitled, in addition to any other rights and remedies
it may have at law or in equity, to obtain an injunction to restrain any
threatened or actual activities in violation of any such covenants. The
parties hereby consent and agree that temporary and permanent injunctive relief
may be granted in any proceedings which might be brought to enforce any such
covenants without the necessity of proof of actual damages, and in the event
the Company or Member does apply for such an injunction, that the Company or
Member has an adequate remedy at law shall not be raised as a defense.

</FONT>


<P align="center"><FONT size="2"><B>ARTICLE XII</B>
</FONT>




<P align="center"><FONT size="2"><B>INVESTMENT REPRESENTATIONS</B>
</FONT>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Member hereby represents and warrants to, and agrees with, the
Manager, the other Members, and the Company as follows:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 Preexisting Relationship or Experience. (i)&nbsp;It has a preexisting
personal or business relationship with the Company, the Manager or one or more
of its control persons or (ii)&nbsp;by reason of its business or financial
experience, or by reason of the business or financial experience of its
financial advisor who is unaffiliated with and who is not compensated, directly
or indirectly, by the Company or any affiliate or selling agent of the Company,
it is capable of evaluating the risks and merits of an investment in the
Membership Interest and of protecting its own interests in connection with this
investment.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 No Advertising. It has not seen, received, been presented with, or
been solicited by any leaflet, public promotional meeting, newspaper or
magazine article or advertisement, radio or television advertisement, or any
other form of advertising or general solicitation with respect to the sale of
the Membership Interest.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 Investment Intent. It is acquiring the Membership Interest for
investment purposes for its own account only and not with a view to or for sale
in connection with any distribution of all or any part of the Membership
Interest. No other person will have any direct or indirect beneficial interest
in or right to the Membership Interest except as described herein.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 Consultation with Attorney. Each Member has been advised to consult
with its own attorney regarding all legal matters concerning an investment in
the Company and the tax consequences of participating in the Company, and has
done so, to the extent it considers necessary.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5 Tax Consequences. Each Member acknowledges that the tax consequences
to it of investing in the Company will depend on its particular circumstances,
and neither the Company, the Manager, the Members, nor the partners,
shareholders, members, agents, officers, directors, employees, Affiliates, or
consultants of any of them will be responsible or liable for the tax
consequences to him or her of an investment in the Company. Each Member will
look solely to, and rely upon, its own advisers with respect to the tax
consequences of this investment.

</FONT>


<P align="center"><FONT size="2">32</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6 No Assurance of Tax Benefits. Each Member acknowledges that there
can be no assurance that the Code or the Regulations will not be amended or
interpreted in the future in such a manner so as to deprive the Company and the
Members of some or all of the tax benefits they might now receive, nor that
some of the deductions claimed by the Company or the allocations of items of
income, gain, loss, deduction, or credit among the Members may not be
challenged by the Internal Revenue Service.

</FONT>


<P align="center"><FONT size="2"><B>ARTICLE XIII</B>
</FONT>




<P align="center"><FONT size="2"><B>MISCELLANEOUS</B>
</FONT>




<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 Complete Agreement. This Agreement and the Certificate constitute
the complete and exclusive statement of agreement among the Members and Manager
with respect to the subject matter herein and therein and replace and supersede
all prior written and oral agreements or statements by and among the Members
and Manager or any of them. No representation, statement, condition or
warranty not contained in this Agreement or the Certificate will be binding on
the Members or Manager or have any force or effect whatsoever. To the extent
that any provision of the Certificate conflict with any provision of this
Agreement, the Certificate shall control.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2 Binding Effect. Subject to the provisions of this Agreement relating
to transferability, this Agreement will be binding upon and inure to the
benefit of the Members, and their respective successors and assigns.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3 Parties in Interest. Except as expressly provided in the Act,
nothing in this Agreement shall confer any rights or remedies under or by
reason of this Agreement on any Persons other than the Members and Manager and
their respective successors and assigns nor shall anything in this Agreement
relieve or discharge the obligation or liability of any third person to any
party to this Agreement, nor shall any provision give any third person any
right of subrogation or action over or against any party to this Agreement.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4 Pronouns; Statutory References. All pronouns and all variations
thereof shall be deemed to refer to the masculine, feminine, or neuter,
singular or plural, as the context in which they are used may require. Any
reference to the Code, the Regulations, the Act or other statutes or laws will
include all amendments, modifications, or replacements of the specific sections
and provisions concerned.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.5 Headings. All headings herein are inserted only for convenience and
ease of reference and are not to be considered in the construction or
interpretation of any provision of this Agreement.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.6 Interpretation. In the event any claim is made by any Member
relating to any conflict, omission or ambiguity in this Agreement, no
presumption or burden of proof or persuasion shall be implied by virtue of the
fact that this Agreement was prepared by or at the request of a particular
Member or its counsel.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.7 References to this Agreement. Numbered or lettered articles,
sections, subsections and exhibits herein contained refer to articles,
sections, subsections and exhibits of this Agreement unless otherwise expressly
stated.

</FONT>


<P align="center"><FONT size="2">33</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.8 Jurisdiction. Each Member hereby consents to the exclusive
jurisdiction of the state and federal courts sitting in Missouri in any action
on a claim arising out of, under or in connection with this Agreement or the
transactions contemplated by this Agreement. Each Member further agrees that
personal jurisdiction over it may be effected by service of process by
registered or certified mail addressed as provided in Section&nbsp;13.14 of this
Agreement, and that when so made shall be as if served upon it personally.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.9 Limitations on Legal Actions. Except with respect to the obligations
under Article&nbsp;XI, the Company and each Member waives, to the fullest extent
permitted by law, any right to or claim for any punitive or exemplary damages
against the other parties and the right to recover consequential damages for
any claim directly or indirectly arising from or relating to this Agreement.
Furthermore, the parties agree that any legal action in connection with this
Agreement shall be tried to the court sitting without a jury, and all parties
hereto waive any right to have any action tried by jury.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.10 Mediation. Except as otherwise provided in this Agreement or an
action seeking a restraining order or injunction, any controversy between the
parties arising out of this Agreement shall first be submitted to the American
Arbitration Association for non-binding mediation in the county in which the
Company&#146;s principal office is then located. The costs of the mediation,
including any American Arbitration Association administration fee, the
mediator&#146;s fee, and costs for the use of facilities during the hearings, shall
be borne equally by the parties to the mediation. The mediation shall be
administered by and held in accordance with the Commercial Mediation Rules of
the American Arbitration Association.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.11 Exhibits. All Exhibits attached to this Agreement are incorporated
and shall be treated as if set forth herein.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.12 Severability. Subject to Section&nbsp;11.4, if any provision of this
Agreement or the application of such provision to any person or circumstance
shall be held invalid, the remainder of this Agreement or the application of
such provision to persons or circumstances other than those to which it is held
invalid shall not be affected thereby.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.13 Additional Documents and Acts. Each Member agrees to execute and
deliver such additional documents and instruments and to perform such
additional acts as may be necessary or appropriate to effectuate, carry out and
perform all of the terms, provisions, and conditions of this Agreement and the
transactions contemplated hereby.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.14 Notices. Any notice to be given or to be served upon the Company or
any party hereto in connection with this Agreement must be in writing (which
may include facsimile) and will be deemed to have been given and received when
delivered to the address specified by the party to receive the notice. Such
notices will be given to a Member or Manager at the address specified in
Exhibit&nbsp;A. Any party may, at any time by giving five (5)&nbsp;days&#146; prior written
notice to the other parties, designate any other address in substitution of the
foregoing address to which such notice will be given.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.15 Amendments. The Manager may from time to time amend Exhibit&nbsp;A and B
as provided herein or amend this Agreement to admit new Members and set forth
their rights and obligations as described in Section&nbsp;4.2. All other amendments
to this Agreement will be in writing and signed by all Members.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.16 Reliance on Authority of Person Signing Agreement. If a Member is
not a natural person, neither the Company nor any Member will be required to
determine the authority of the individual signing this Agreement to make any
commitment or undertaking on behalf of such entity or to

</FONT>


<P align="center"><FONT size="2">34</FONT>

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<P><FONT size="2">determine any fact or circumstance bearing upon the existence of the
authority of such individual or be responsible for the application or
distribution of proceeds paid or credited to individuals signing this Agreement
on behalf of such entity.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.17 No Interest in Company Property; Waiver of Action for Partition. No
Member or Assignee has any interest in specific property of the Company.
Without limiting the foregoing, each Member and Assignee irrevocably waives
during the term of the Company any right that it may have to maintain any
action for partition with respect to the property of the Company.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.18 Multiple Counterparts. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which
shall constitute one and the same instrument.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.19 Attorney Fees. In the event that any dispute between the Company
and the Members or among the Members should result in litigation or
arbitration, the prevailing party in such dispute shall be entitled to recover
from the other party all reasonable fees, costs and expenses of enforcing any
right of the prevailing party, including without limitation, reasonable
attorneys&#146; fees and expenses, all of which shall be deemed to have accrued upon
the commencement of such action and shall be paid whether or not such action is
prosecuted to judgment. Any judgment or order entered in such action shall
contain a specific provision providing for the recovery of attorney fees and
costs incurred in enforcing such judgment and an award of prejudgment interest
from the date of the breach at the maximum rate of interest allowed by law.
For the purposes of this Section: attorney fees shall include, without
limitation, fees incurred in the following: (1)&nbsp;post-judgment motions; (2)
contempt proceedings; (3)&nbsp;garnishment, levy, and debtor and third party
examinations; (4)&nbsp;discovery; and (5)&nbsp;bankruptcy litigation and prevailing party
shall mean the party who is determined in the proceeding to have prevailed or
who prevails by dismissal, default or otherwise.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.20 Time is of the Essence. All dates and times in this Agreement are
of the essence.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.21 Remedies Cumulative. The remedies under this Agreement are
cumulative and shall not exclude any other remedies to which any person may be
lawfully entitled.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.22 Special Power of Attorney.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Attorney in Fact. Each Member grants the Manager a special power of
attorney irrevocably making, constituting, and appointing the Manager as the
Member&#146;s attorney in fact, with all power and authority to act in the Member&#146;s
name and on the Member&#146;s behalf to execute, acknowledge and deliver and swear
to in the execution, acknowledgment, delivery and filing of the following
documents:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;Assignments of Membership Interests or other documents of transfer to
be delivered in connection with the purchase of a Membership Interest pursuant
to any purchase right set forth in this Agreement; and

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;Any other instrument or document that may be reasonably required by
the Manager in connection with any of the foregoing.

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Irrevocable Power. The special power granted in Section&nbsp;13.22 A:

</FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;is irrevocable;

</FONT>


<P align="center"><FONT size="2">35</FONT>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;is coupled with an interest; and

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;shall survive a Member&#146;s death, incapacity or dissolution.

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Signatures. The Manager may exercise the special power of attorney
granted in Section&nbsp;13.22 A by a facsimile signature of the Manager or by
signature of the Manager.

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<P align="center"><FONT size="2">36</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of the Members of <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, LLC, a Delaware limited liability
company, have executed this Agreement, effective as of the date written above.

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<P><FONT size="2">CLASS A MEMBER AND MANAGER:
</FONT>

<P><FONT size="2">ASIAGO BREAD, LLC<BR>
a Delaware limited liability company
</FONT>


<P><FONT size="2">By:<HR align="left" size="1" width="25%" noshade>
Name:&nbsp;&nbsp;&nbsp;&nbsp;JOHN M. MAGUIRE<BR>
Title: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President, Chief Company and
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joint
Venture Operations Officer
</FONT>

<P><FONT size="2">CLASS B MEMBER:
</FONT>



<P><FONT size="2"><HR align="left" size="1" width="25%" noshade>
&#091;District Manager&#093;
</FONT>




<P align="center"><FONT size="2">37</FONT>

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<P><FONT size="2">CLASS C MEMBERS:
</FONT>




<P><FONT size="2"><HR align="left" size="1" width="25%" noshade>
&#091;General Manager&#093;
</FONT>




<P><FONT size="2"><HR align="left" size="1" width="25%" noshade>
&#091;General Manager&#093;
</FONT>




<P><FONT size="2"><HR align="left" size="1" width="25%" noshade>
&#091;General Manager&#093;
</FONT>




<P align="center"><FONT size="2">38</FONT>

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<P align="center"><FONT size="2"><B>EXHIBIT A</B>
</FONT>




<P align="center"><FONT size="2"><B>CAPITAL CONTRIBUTIONS OF MEMBERS<BR>
AND ADDRESSES OF MEMBERS AND MANAGER<BR>
AS OF </B><u><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></u> <u><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></u><B>, 20</B><u><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></u>
</FONT>




<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="65%">
<TR valign="bottom">
    <TD width="36%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="51%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Member's</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Capital</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Member's Name and Date Added</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Member's Address</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Contributions</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">ASIAGO BREAD, LLC</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
6710 Clayton Road</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 20<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Richmond Heights, Missouri 63117
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&#091;District Manager&#093;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 20<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&#091;General Manager&#093;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 20<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
</TR>
<TR>    <TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">Total as of <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 20<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">$<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
</TR>
</TABLE>
</CENTER>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">
<TR valign="bottom">
    <TD width="34%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="61%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Manager's Name</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Manager's Address</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">ASIAGO BREAD, LLC</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
6710 Clayton Road</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Richmond Heights, Missouri 63117</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">39</FONT>

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<P align="center"><FONT size="2"><B>EXHIBIT B</B>
</FONT>




<P align="center"><FONT size="2"><B>DESIGNATED BAKERY-CAFES<BR>
AS OF </B><u><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></u> <u><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></u><B>, 20</B><u><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></u>
</FONT>




<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">
<TR valign="bottom">
    <TD width="%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="-5%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Location and Date Added</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Class B Member</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Class C Member</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
</TABLE>
</CENTER>



<P align="center"><FONT size="2">40</FONT>


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