SPARTECH CORP
AMENDED AND RESTATED 2006 NOTE PURCHASE AGREEMENT
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>6
<FILENAME>c35202exv10w6.htm
<DESCRIPTION>AMENDED AND RESTATED 2006 NOTE PURCHASE AGREEMENT
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<TITLE>exv10w6</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.6</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV style="width: 100%; border-bottom: 3px double #000000; font-size: 1px">&nbsp;</DIV>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SPARTECH CORPORATION</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 6pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
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<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">6.82% Senior Notes due 2011

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<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 6pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
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<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>AMENDED AND RESTATED</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>NOTE PURCHASE AGREEMENT</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 6pt">(Initially Dated as of June&nbsp;5, 2006)
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<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 6pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
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<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Dated as of September&nbsp;10, 2008

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV style="width: 100%; border-bottom: 3px double #000000; font-size: 1px">&nbsp;</DIV>
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<P align="center" style="font-size: 10pt"><!-- Folio -->- 1 -<!-- /Folio -->
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>Table of Contents</U>
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<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Page</TD>
    <TD>&nbsp;</TD>
</TR>

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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD>1.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">AMENDMENT AND RESTATEMENT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Prior Issuances</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorization of Amendment and Restatement of Existing Note Agreement</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorization of Amendment and
Restatement of Existing Notes and Exchange of Existing Notes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1.4.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Security for the Notes and Other Obligations</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1.5.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Subsidiary Guarantees</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>2.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">INTEREST RATE</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>3.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">CONDITIONS TO CLOSING</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Representations and Warranties</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Performance; No Default</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Compliance Certificates</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.4.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Company Counsel</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.5.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Other Agreements</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.6.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Security Documents</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.7.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment of Special Counsel Fees</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.8.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment of Fees to Noteholders</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3.9.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Proceedings and Documents</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>4.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">REPRESENTATIONS AND WARRANTIES OF THE COMPANY</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Organization; Power and Authority</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorization, etc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Disclosure</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.4.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Organization and Ownership of Shares of Subsidiaries; Affiliates</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.5.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Financial Statements</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.6.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Compliance with Laws, Other Instruments, etc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.7.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Governmental Authorizations, etc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.8.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Litigation; Observance of Agreements, Statutes and Orders</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.9.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Taxes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.10.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title to Property; Leases</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.11.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Licenses, Permits, etc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.12.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Compliance with ERISA</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.13.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Existing Indebtedness</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.14.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Foreign Assets Control Regulations, etc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.15.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Status Under Certain Statutes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.16.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Environmental Matters</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">4.17.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Solvency</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>5.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">INFORMATION AS TO COMPANY</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Financial and Business Information</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
</TR>
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</TABLE>
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<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Page</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Officer&#146;s Certificate</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Inspection</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>6.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">PAYMENT AND PREPAYMENT OF THE NOTES</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">6.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certain Prepayments</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">6.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Optional Prepayments</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">6.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Allocation of Partial Prepayments</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">6.4.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Maturity; Surrender, etc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">6.5.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Purchase of Notes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>7.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">AFFIRMATIVE COVENANTS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Compliance with Law</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Insurance</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Maintenance of Properties</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.4.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment of Taxes and Claims</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.5.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Corporate Existence, etc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.6.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Additional Subsidiary Guarantees; Release of Subsidiary Guarantees</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.7.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Minimum Company and Subsidiary
Guarantor Consolidated Total Operating Income or Consolidated Total Assets</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.8.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Collateral</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">7.9.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Total Outstandings under Credit Facility Documents</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>8.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">NEGATIVE COVENANTS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Liens</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Disposition of Assets</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consolidations and Mergers</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.4.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Loans and Investments</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.5.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Limitation on Indebtedness</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.6.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consolidated Net Worth</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.7.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fixed Charge Coverage Ratio</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.8.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Leverage Ratio</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.9.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sale/Leasebacks</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.10.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transactions with Affiliates</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.11.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;Reserved&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.12.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Guarantees</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.13.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Restricted Payments</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.14.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ERISA</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.15.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Change in Business</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.16.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Accounting Changes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.17.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment and Waivers of Subordinated Debt</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.18.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Capital Expenditures</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.19.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Credit Facility Documents</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.20.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Term Loan Documents</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">8.21.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated 2004 NPA</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>9.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">EVENTS OF DEFAULT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->(ii)<!-- /Folio -->
</DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2" style="border-bottom: 1px solid #000000">Page</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD>10.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">REMEDIES ON DEFAULT, ETC.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">10.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Acceleration</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">10.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Other Remedies</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">10.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rescission</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">10.4.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">No Waivers or Election of Remedies, Expenses, etc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>11.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">11.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registration of Notes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">11.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transfer and Exchange of Notes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">11.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Replacement of Notes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>12.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">PAYMENTS ON NOTES</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">12.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Place of Payment</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">12.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Home Office Payment</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>13.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">EXPENSES, ETC.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">13.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transaction Expenses</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">13.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Survival</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>14.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>15.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">AMENDMENT AND WAIVER</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">15.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Requirements</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">15.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Solicitation of Holders of Notes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">15.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Binding Effect, etc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">15.4.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notes held by Company, etc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>16.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">NOTICES</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>17.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">REPRODUCTION OF DOCUMENTS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>18.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">CONFIDENTIAL INFORMATION</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>19.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">MISCELLANEOUS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">19.1.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Successors and Assigns</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">19.2.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Construction</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">19.3.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Jurisdiction and Process; Waiver of Jury Trial</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">19.4.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payments Due on Non-Business Days</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">19.5.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Severability</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">19.6.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Accounting Terms; Pro Forma Calculations</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">19.7.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Counterparts</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">19.8.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Governing Law</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">19.9.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Subsidiary Guarantors&#146; Acknowledgment</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->(iii)<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="77%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Schedule&nbsp;A
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Names and Addresses of Noteholders</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Schedule&nbsp;B
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Defined Terms</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;1.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of 6.82% Senior Note due 2011</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;1.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Subsidiary Guarantee</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;3.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Opinion of Special Counsel for the Company</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;3.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Intercreditor Agreement</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Schedule&nbsp;4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Subsidiaries</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Schedule&nbsp;4.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Litigation</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Schedule&nbsp;4.10(c)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Real Property</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Schedule&nbsp;4.10(d)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Leases</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Schedule&nbsp;4.11
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Licenses, Etc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Schedule&nbsp;4.13
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Existing Indebtedness</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Schedule&nbsp;8.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Liens</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->(iv)<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SPARTECH CORPORATION</B><BR>
120 South Central<BR>
Suite&nbsp;1700<BR>
Clayton, MO 63105
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">6.82% Senior Notes due 2011

</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">As of September&nbsp;10, 2008
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">TO EACH OF THE NOTEHOLDERS LISTED<BR>
&nbsp;&nbsp; IN THE ATTACHED SCHEDULE A:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPARTECH CORPORATION, a Delaware corporation (the <B>&#147;Company&#148;</B>), agrees with each Noteholder as
set forth below. Certain capitalized terms used in this Agreement are defined in Schedule&nbsp;B;
references to a &#147;Schedule&#148; or an &#147;Exhibit&#148; are, unless otherwise specified, to a Schedule or an
Exhibit attached to this Agreement; references to Sections are, unless otherwise specified, to
Sections of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>1. AMENDMENT AND RESTATEMENT.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>1.1. Prior Issuances.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to those certain Note Purchase Agreements, each dated as of June&nbsp;5, 2006, between the
Company and each of the parties listed on Schedule&nbsp;A thereto as purchasers of the Notes (as amended
from time to time and as in effect immediately prior to the Effective Date, collectively, the
&#147;<B>Existing Note Agreement</B>&#148;), the Company issued $50,000,000 aggregate principal amount of its 5.78%
Senior Notes due 2011 (as amended from time to time and as in effect immediately prior to the
Effective Date, the &#147;<B>Existing Notes&#148;</B>). The Existing Notes are currently outstanding and held
(beneficially or of record) by the Noteholders as set forth on Schedule&nbsp;A hereto. The Company has
requested that the Noteholders agree to amend various provisions of the Existing Note Agreement and
the Existing Notes. The Noteholders have, subject to the satisfaction of the conditions set forth
in Section&nbsp;3 of this Agreement, consented to such request. The mutual agreement of the parties as
to such matters is set forth in the amendment and restatement of the Existing Note Agreement and
the Existing Notes provided for in this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>1.2. Authorization of Amendment and Restatement of Existing Note Agreement.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the satisfaction of the conditions precedent set forth in Section&nbsp;3 of this
Agreement, the Company and each Noteholder, each by its execution of this Agreement, hereby agrees
and consents to the amendment and restatement in its entirety of the Existing Note Agreement by
this Agreement, and the Existing Note Agreement shall be deemed so amended and restated.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, (a)&nbsp;the representations and warranties set forth in section 5
and section 6 of the Existing Note Agreement shall be deemed to survive the amendment and
restatement of the Existing Note Agreement and (b)&nbsp;the representations and warranties set forth in
Section&nbsp;4 of this Agreement shall be deemed to be additional representations and warranties made as
of the date of this Agreement. The provisions of Sections&nbsp;1 through 3 (inclusive)&nbsp;of the Existing
Note Agreement, insofar as they apply to the original issuance of the Existing Notes on the
original date of issuance, shall be deemed to survive the amendment and restatement of the Existing
Note Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>1.3. Authorization of Amendment and Restatement of Existing Notes and Exchange of Existing Notes.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the satisfaction of the conditions set forth in Section&nbsp;3 of this Agreement, the
Company and each Noteholder, each by its execution of this Agreement, hereby agrees and consents to
the amendment and restatement in their entirety of the Existing Notes, on the terms set forth in
this Section&nbsp;1.3. The Existing Notes, as amended and restated hereby and in the form of Exhibit
1.3 to this Agreement, and as further amended or amended and restated from time to time, shall be
hereinafter referred to, individually, as a &#147;<B>Note</B>&#148; and, collectively, as the &#147;<B>Notes</B>.&#148; Any Note
issued on or after the Effective Date shall be in the form of Exhibit&nbsp;1.3 to this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On or before the Effective Date, the Company will deliver to the holders&#146; special counsel,
Bingham McCutchen LLP, at One State Street, Hartford, CT 06103, one or more Notes, in the
denominations specified below such Noteholder&#146;s name on Schedule&nbsp;A hereto, dated as of the most
recent interest payment in respect thereof, and payable to such Noteholder or as otherwise
indicated on Schedule&nbsp;A hereto, against delivery by such Noteholder of the Existing Notes
identified as held by such Noteholder on Schedule&nbsp;A hereto (or notice of lost note in accordance
with Section&nbsp;11.3). Bingham McCutchen LLP will forward each of the Notes to the Noteholders as
directed in Schedule&nbsp;A hereto and the Existing Notes (or the notice of lost note) to the Company
for cancellation. All amounts owing under, and evidenced by, the Existing Notes as of the
Effective Date shall continue to be outstanding under, and shall, after the Effective Date be
evidenced by, the Notes, and shall be repayable in accordance with this Agreement and the Notes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>1.4. Security for the Notes and Other Obligations.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Notes and the other obligations of the Company in respect of this Agreement are secured by
the Collateral on the terms set forth in the Security Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>1.5. The Subsidiary Guarantees</B>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Notes and the other obligations of the Company in respect of this Agreement are
unconditionally guaranteed by each of the Company&#146;s existing Domestic Subsidiaries (except
Subsidiaries that are inactive or have no assets other than ownership interests in other Domestic
Subsidiaries), pursuant to subsidiary guarantees substantially in the form of Exhibit&nbsp;1.5
(individually a <B>&#147;Subsidiary Guarantee&#148; </B>and collectively the <B>&#147;Subsidiary Guarantees&#148;</B>, which terms
shall include after the Effective Date all additional Subsidiary Guarantees from time to
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">time executed and delivered pursuant to Section&nbsp;7.6). Each Person that executes and delivers
a Subsidiary Guarantee is referred to herein as a &#147;<B>Subsidiary Guarantor</B>.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>2. INTEREST RATE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The interest rate applicable to the Existing Notes on the date of original issuance was 5.78%
<I>per annum</I>. The interest rate on the Notes, on and after the Effective Date, shall be 6.82% <I>per
annum</I>, payable as provided herein and in the Notes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3. CONDITIONS TO CLOSING.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The amendment and restatement of the Existing Note Agreement shall be subject to the
fulfillment to the satisfaction of all Noteholders and their special counsel of the following
conditions on September&nbsp;10, 2008 (the date of such satisfaction, the &#147;<B>Effective Date</B>&#148;):
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3.1. Representations and Warranties.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The representations and warranties of the Company and the Subsidiaries contained in this
Agreement, the other Financing Documents and the Security Documents shall be correct in all
material respects on the Effective Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3.2. Performance; No Default.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall have performed and complied with all agreements and conditions contained in
this Agreement, the other Financing Documents and the Security Documents required to be performed
or complied with by it on or prior to the Effective Date, and, after giving effect to the amendment
and restatement evidenced by this Agreement, no Default or Event of Default shall have occurred and
be continuing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3.3. Compliance Certificates.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Officer&#146;s Certificate</U>. The Company shall have delivered to each Noteholder or its
special counsel an Officer&#146;s Certificate, dated the date of the date hereof, certifying that the
conditions specified in Sections&nbsp;3.1 and 3.2 have been fulfilled.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Secretary&#146;s Certificate</U>. The Company shall have delivered to each Noteholder or
its special counsel a certificate of the Secretary or an Assistant Secretary of the Company
attaching (i)&nbsp;a certified copy of the Company&#146;s Organization Documents, (ii)&nbsp;resolutions
authorizing this Agreement and each of the other Financing Documents and Security Documents to
which it is a party, each, in form and substance satisfactory to the Noteholders, and (iii)
incumbency certificates and/or other certificates of Responsible Officers of the Company as the
Noteholders may require evidencing the identity, authority and capacity of each Responsible Officer
thereof authorized to act as a Responsible Officer in connection with this Agreement and the other
Financing Documents and Security Documents to which the Company is a party or is to be a party.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3.4. Opinion of Company Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Noteholder or its special counsel shall have received an opinion in form and substance
satisfactory to such Noteholder, dated the Effective Date, from Armstrong Teasdale LLP, special
counsel for the Company, substantially in the form set forth in Exhibit&nbsp;3.4 and covering such other
matters incident to the transactions contemplated hereby as such Noteholder or its counsel may
reasonably request (and the Company hereby instructs its counsel to deliver such opinion to each
Noteholder or its special counsel).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3.5. Other Agreements.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Amended and Restated Note Purchase Agreement (Initially Dated as of September&nbsp;15,
2004)</U>. The Company shall have entered into that certain Amended and Restated Note Purchase
Agreement (Initially Dated as of September&nbsp;15, 2004), dated as of the Effective Date, with the
noteholders listed in schedule A attached thereto (the &#147;<B>Amended and Restated 2004 NPA</B>&#148;), in form
and substance satisfactory to each Noteholder, and the Company shall have satisfied the conditions
precedent to the Amended and Restated 2004 NPA other than the effectiveness of the Financing
Documents. Each Noteholder shall have received true and complete copies of the Amended and
Restated 2004 NPA, and each certificate, opinion or other writing then or theretofore delivered to
any party to the Amended and Restated 2004NPA in respect of the satisfaction of such conditions
precedent (without duplication as to conditions specifically set forth in this Section&nbsp;3).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Credit Agreement</U>. The Company shall have entered into that certain Third
Amendment to Fourth Amended and Restated Credit Agreement, dated as of the Effective Date, with the
Bank of America, N.A., as Administrative Agent and L/C Issuer, The Bank of Tokyo-Mitsubishi UFJ,
LTD., and Keybank, National Association as Syndication Agents, Calyon New York Branch and National
City Bank of Pennsylvania as Documentation Agents and the other Lenders party thereto (the
&#147;<B>Amendment to Credit Agreement</B>&#148; and such credit agreement, as further amended from time to time,
the &#147;<B>Credit Agreement</B>&#148;), in form and substance satisfactory to each Noteholder, and the Company
shall have satisfied the conditions precedent to the Amendment to Credit Agreement other than the
effectiveness of the Financing Documents. Each Noteholder shall have received true and complete
copies of the Amendment to Credit Agreement, and each certificate, opinion or other writing then or
theretofore delivered to any party to the Amendment to Credit Agreement in respect of the
satisfaction of such conditions precedent (without duplication as to conditions specifically set
forth in this Section&nbsp;3).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>Term Loan</U>. The Company shall have entered into that certain Third Amendment to
Term Loan Agreement, dated as of the Effective Date, with Calyon New York Branch (the &#147;<B>Amendment to
Term Loan Agreement</B>&#148; and such term loan agreement, as further amended from time to time, the &#147;<B>Term
Loan Agreement</B>&#148;), in form and substance satisfactory to each Noteholder, and the Company shall have
satisfied the conditions precedent to the Amendment to Term Loan Agreement other than the
effectiveness of the Financing Documents. Each Noteholder shall have received true and complete
copies of the Amendment to Term Loan Agreement, and each certificate, opinion or other writing then
or theretofore delivered to any
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">party to the Amendment to Term Loan Agreement in respect of the satisfaction of such
conditions precedent (without duplication as to conditions specifically set forth in this Section
3).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <U>Intercreditor and Collateral Agency Agreement</U>. Each of the Noteholders or its
counsel and the Collateral Agent shall have received the Intercreditor Agreement, dated as of the
Effective Date, duly executed and delivered by the Company and each other party thereto, in the
form attached hereto as Exhibit&nbsp;3.5.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3.6. Security Documents.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Collateral Agent shall have received a security agreement, dated as of the Effective Date,
duly executed and delivered by the Company and each Debtor (as defined therein) in form and
substance satisfactory to each Noteholder (as amended from time to time, the &#147;<B>Security Agreement</B>&#148;),
together with evidence of the taking of all other actions, recordings and filings of or with
respect to the Security Agreement that the Collateral Agent may deem necessary or desirable within
three days of the Effective Date (or as soon as practicable in the case of actions, recordings and
filings related to intellectual property), or as otherwise agreed by the Collateral Agent in
consultation with the parties to the Credit Agreement, in order to perfect the Lien created
thereby, and each of the Noteholders or its counsel shall have received true and correct copies of
the same.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3.7. Payment of Special Counsel Fees.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without limiting the provisions of Section&nbsp;13.1, the Company shall have paid on or before the
Effective Date the reasonable fees, charges and disbursements of the Noteholders&#146; special counsel
to the extent reflected in a statement of such counsel rendered to the Company at the closing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3.8. Payment of Fees to Noteholders.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall have paid to the Noteholders for their ratable benefit an amendment fee in
the amount of 15 basis points against the outstanding principal amount of the Notes, and a fee in
respect of certain other matters in the amount of 25 basis points against the outstanding principal
amount of the Notes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>3.9. Proceedings and Documents.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All corporate and other proceedings in connection with the transactions contemplated by this
Agreement and all documents and instruments incident to such transactions shall be satisfactory to
each Noteholder and its special counsel, and such Noteholder and its special counsel shall have
received all such counterpart originals or certified or other copies of such documents as such
Noteholder or its counsel may reasonably request.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4. REPRESENTATIONS AND WARRANTIES OF THE COMPANY.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of the Effective Date, the Company represents and warrants to each Noteholder that:
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.1. Organization; Power and Authority.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of its Subsidiaries is a corporation, limited liability company or
limited partnership, as applicable, duly organized, validly existing and in good standing under the
laws of its jurisdiction of incorporation, organization or formation, as applicable, and is duly
qualified as a foreign corporation, limited liability company or limited partnership, as
applicable, and is in good standing in each jurisdiction in which such qualification is required by
law, other than those jurisdictions as to which the failure to be so qualified or in good standing
could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. The Company and each of its Subsidiaries has the power and authority to own or hold under
lease the properties it purports to own or hold under lease, to transact the business it transacts
and proposes to transact, and (a)&nbsp;in the case of the Company, to execute and deliver this
Agreement, the Notes, the other Financing Documents and the Security Documents and to perform the
provisions hereof and thereof, and (b)&nbsp;in the case of each Subsidiary party thereto, to execute and
deliver its respective Subsidiary Guarantee and the Security Documents and to perform the
provisions thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.2. Authorization, etc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The execution, delivery and performance by the Company of this Agreement, and by the Company
and each of its Subsidiaries of any other Financing Document and Security Document to which such
Person is a party, has been duly authorized by all necessary action and this Agreement constitutes,
and upon the execution and delivery thereof each Financing Document and Security Document will
constitute, a legal, valid and binding obligation of the Company and each of its Subsidiaries, as
applicable, enforceable against the Company and each of its Subsidiaries, as applicable, in
accordance with its terms, except as such enforceability may be limited by (a)&nbsp;applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement
of creditors&#146; rights generally and (b)&nbsp;general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.3. Disclosure.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None of the information (financial or otherwise) furnished by or on behalf of the Company or
any of its Subsidiaries to the Noteholders in connection with the consummation of the transactions
contemplated by the Financing Documents or Security Documents, taken as a whole, contains any
untrue statement of a material fact or omits to state a material fact necessary to make the
statements contained herein or therein, taken as a whole, not misleading in light of the
circumstances under which they were made.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.4. Organization and Ownership of Shares of Subsidiaries; Affiliates.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Schedule&nbsp;4.4 contains (except as noted therein) complete and correct lists of the
Company&#146;s (i)&nbsp;Subsidiaries, showing, as to each Subsidiary, the correct name thereof, the
jurisdiction of its organization, and the percentage of shares of each class of its capital stock
or similar equity interests outstanding owned by the Company and each other Subsidiary, (ii)
Affiliates, other than Subsidiaries, and (iii)&nbsp;directors and senior officers. Schedule&nbsp;4.4 also
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">identifies each Significant Subsidiary and each Domestic Subsidiary required to be a
Subsidiary Guarantor pursuant hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;All of the outstanding shares of capital stock or similar equity interests of each
Subsidiary shown in Schedule&nbsp;4.4 as being owned by the Company and its Subsidiaries have been
validly issued, are fully paid and nonassessable and are owned by the Company or another Subsidiary
free and clear of any Lien (except as otherwise disclosed in Schedule&nbsp;4.4).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;No Subsidiary is a party to, or otherwise subject to any legal restriction or any
agreement (other than customary limitations imposed by corporate law statutes) restricting the
ability of such Subsidiary to pay dividends out of profits or make any other similar distributions
of profits to the Company or any of its Subsidiaries that owns outstanding shares of capital stock
or similar equity interests of such Subsidiary.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;As of the Effective Date, the Company has no Subsidiaries other than those specifically
disclosed in Schedule&nbsp;4.4 and has no equity investments in any other corporation or entity other
than those specifically disclosed in Schedule&nbsp;4.4.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.5. Financial Statements.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of the financial statements of the Company and its Subsidiaries delivered to the
Noteholders on or prior to the Effective Date (including in each case the related schedules and
notes) fairly present in all material respects the consolidated financial position of the Company
and its Subsidiaries as of the respective dates of such financial statements and the consolidated
results of their operations and cash flows for the respective periods so specified and have been
prepared in accordance with GAAP consistently applied throughout the periods involved except as set
forth in the notes thereto (subject, in the case of any interim financial statements, to normal
year-end adjustments).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.6. Compliance with Laws, Other Instruments, etc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The execution, delivery and performance by the Company and each of its Subsidiaries of the
Financing Documents and Security Documents to which it is a party will not (i)&nbsp;contravene, result
in any breach of, or constitute a default under, or result in the creation of any Lien in respect
of any property of the Company or any Subsidiary under, any indenture, mortgage, deed of trust,
loan, purchase or credit agreement, lease, corporate charter, by-laws or other Organization
Document, or any other agreement or instrument to which the Company or any Subsidiary is bound or
by which the Company or any Subsidiary or any of their respective properties may be bound or
affected, (ii)&nbsp;conflict with or result in a breach of any of the terms, conditions or provisions of
any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority
applicable to the Company or any Subsidiary or (iii)&nbsp;violate any provision of any statute or other
rule or regulation of any Governmental Authority applicable to the Company or any Subsidiary.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.7. Governmental Authorizations, etc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No consent, approval or authorization of, or registration, filing or declaration with, any
Governmental Authority or any other Person is necessary or required in connection with (a)&nbsp;the
execution, delivery or performance by the Company, or any of its Subsidiaries, of this Agreement or
any other Financing Document to which it is a party, (b)&nbsp;the grant by the Company and each Domestic
Subsidiary of the Liens granted by it pursuant to the Security Documents, (c)&nbsp;the perfection or
maintenance of the Liens created under the Security Documents (other than customary filings), or
(d)&nbsp;the priority of such Liens required under the Financing Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.8. Litigation; Observance of Agreements, Statutes and Orders.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other than as set forth on Schedule&nbsp;4.8 hereto:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;There are no actions, suits or proceedings pending or, to the knowledge of the Company,
threatened against or affecting the Company or any Subsidiary or any property of the Company or any
Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental
Authority that, individually or in the aggregate, could reasonably be expected to have a Material
Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Neither the Company nor any Subsidiary is in default under any term of any agreement or
instrument to which it is a party or by which it is bound, or any order, judgment, decree or ruling
of any court, arbitrator or Governmental Authority or is in violation of any applicable law,
ordinance, rule or regulation (including without limitation Environmental Laws) of any Governmental
Authority, which default or violation, individually or in the aggregate, could reasonably be
expected to have a Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.9. Taxes.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of its Subsidiaries have filed all tax returns that are required to have
been filed in any jurisdiction, and have paid all taxes shown to be due and payable on such returns
and all other taxes and assessments levied upon them or their properties, assets, income or
franchises, to the extent such taxes and assessments have become due and payable and before they
have become delinquent, except for any taxes and assessments (a)&nbsp;currently payable without penalty
or interest, (b)&nbsp;the amount of which is not individually or in the aggregate Material or (c)&nbsp;the
amount, applicability or validity of which is currently being contested in good faith by
appropriate proceedings and with respect to which the Company or a Subsidiary, as the case may be,
has established adequate reserves in accordance with GAAP. The Company knows of no basis for any
other tax or assessment that could reasonably be expected to have a Material Adverse Effect. The
charges, accruals and reserves on the books of the Company and its Subsidiaries in respect of
federal, state or other taxes for all fiscal periods are adequate.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.10. Title to Property; Leases.</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company and each of its Subsidiaries has good record and marketable title
in fee simple to, or valid leasehold interests in, all real property necessary or used
in the ordinary conduct of its business, except for Liens in favor of the Collateral
Agent and Permitted Liens, and except for such defects in title as could not
individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The property of the Company and each of its Subsidiaries is free and clear of
all Liens except for Permitted Liens.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.11. Licenses, Permits, etc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as disclosed in Schedule&nbsp;4.11,
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company and its Subsidiaries own or possess all licenses, permits,
franchises, authorizations, patents, copyrights, proprietary software, service marks,
trademarks and trade names, or rights thereto, that individually or in the aggregate are
Material, without known conflict with the rights of others;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to the best knowledge of the Company, no product of the Company infringes in
any material respect any license, permit, franchise, authorization, patent, copyright,
proprietary software, service mark, trademark, trade name or other right owned by any
other Person; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to the best knowledge of the Company, there is no Material violation by any
Person of any right of the Company or any of its Subsidiaries with respect to any
patent, copyright, proprietary software, service mark, trademark, trade name or other
right owned or used by the Company or any of its Subsidiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.12. Compliance with ERISA.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Company and each ERISA Affiliate have operated and administered each Plan in
compliance with all applicable laws except for such instances of noncompliance as have not resulted
in and could not reasonably be expected to result in a Material Adverse Effect. Neither the
Company nor any ERISA Affiliate has incurred any liability pursuant to Title I or IV of ERISA or
the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in
section 3 of ERISA), and no event, transaction or condition has occurred or exists that could
reasonably be expected to result in the incurrence of any such liability by the Company or any
ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of the
Company or any ERISA Affiliate, in either case pursuant to Title I or IV of ERISA or to such
penalty or excise tax provisions or to section 401(a)(29) or 412 of the Code, other than such
liabilities or Liens as would not be individually or in the aggregate Material.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The present value of the aggregate benefit liabilities under each of the Plans (other than
Multiemployer Plans), determined as of the end of such Plan&#146;s most recently ended plan year on the
basis of the actuarial assumptions specified for funding purposes in such Plan&#146;s most recent
actuarial valuation report, did not exceed the aggregate current value of the assets of such Plan
allocable to such benefit liabilities. The term &#147;benefit liabilities&#148; has the meaning specified in
section 4001 of ERISA and the terms <B>&#147;current value&#148; </B>and <B>&#147;present value&#148; </B>have the meaning specified
in section 3 of ERISA.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Company and its ERISA Affiliates have not incurred withdrawal liabilities (and are not
subject to contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of
Multiemployer Plans that individually or in the aggregate are Material.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The expected post retirement benefit obligation (determined as of the last day of the
Company&#146;s most recently ended fiscal year in accordance with Financial Accounting Standards Board
Statement No.&nbsp;106, without regard to liabilities attributable to continuation coverage mandated by
section 4980B of the Code) of the Company and its Subsidiaries is not Material.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;The execution and delivery of this Agreement will not involve any prohibited transaction
(as such term is defined in section 406(a) of ERISA and section 4975(c)(1)(A)-(D) of the Code),
that could subject the Company or any holder of a Note to any tax or penalty on prohibited
transactions imposed under said section 4975 of the Code or by section 502(i) of ERISA. The
representation by the Company in the first sentence of this Section&nbsp;4.12(e) is made in reliance
upon and subject to the accuracy of each Noteholder&#146;s representation in section 6.2 of the Existing
Note Agreement as to the source of the funds used to pay the purchase price of the Existing Notes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.13. Existing Indebtedness.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedule&nbsp;4.13 sets forth a complete and correct list of all outstanding Indebtedness of the
Company and its Subsidiaries in an unpaid principal amount exceeding $1,000,000 as of the date set
forth thereon (except as otherwise indicated), in each case setting forth the identity of the
obligor and obligee in respect thereof, whether such Indebtedness is secured by Liens, and whether
such Indebtedness constitutes, or is supported by, a Guaranty. Neither the Company nor any
Subsidiary is in default, and no waiver of default is currently in effect except as otherwise
indicated on Schedule&nbsp;4.13, in the payment of any principal or interest on any Indebtedness of the
Company or such Subsidiary in an unpaid principal amount exceeding $1,000,000, and no event or
condition exists with respect to any such Indebtedness of the Company or any Subsidiary that would
permit (or that with the giving of notice or the lapse of time, or both, would permit) one or more
Persons to cause such Indebtedness to become due and payable before its stated maturity or before
its regularly scheduled dates of payment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.14. Foreign Assets Control Regulations, etc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The amendment and restatement of the Existing Note Agreement by the Company represented
hereby will not violate the Trading with the Enemy Act, as amended, or any of the foreign assets
control regulations of the United States Treasury Department (31 CFR,
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Subtitle B, Chapter&nbsp;V, as amended) or any enabling legislation or executive order relating
thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Neither the Company nor any Subsidiary (i)&nbsp;is a Person described or designated in the
Specially Designated Nationals and Blocked Persons List of the Office of Foreign Assets Control or
in Section&nbsp;1 of the Anti-Terrorism Order or (ii)&nbsp;knowingly engages in any dealings or transactions,
or is otherwise associated, with any such Person. The Company and its Subsidiaries are in
substantial compliance with the USA Patriot Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.15. Status Under Certain Statutes.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any Subsidiary is subject to regulation under the Investment Company
Act of 1940, as amended, the Public Utility Holding Company Act of 2005, as amended, the ICC
Termination Act of 1995, as amended, or the Federal Power Act, as amended.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.16. Environmental Matters.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other than as set forth in Schedule&nbsp;4.8, neither the Company nor any Subsidiary has knowledge
of any claim or has received any notice of any claim, and no proceeding has been instituted raising
any claim against the Company or any of its Subsidiaries or any of their respective real properties
now or formerly owned, leased or operated by any of them or other assets, alleging any damage to
the environment or violation of any Environmental Laws, except, in each case, such as could not
reasonably be expected to result in a Material Adverse Effect. Except as otherwise disclosed to
each Noteholder in writing prior to its execution and delivery of this Agreement,
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) neither the Company nor any Subsidiary has knowledge of any facts which would
give rise to any claim, public or private, of violation of Environmental Laws or damage
to the environment emanating from, occurring on or in any way related to real properties
now or formerly owned, leased or operated by any of them or to other assets or their
use, except, in each case, such as could not reasonably be expected to result in a
Material Adverse Effect;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) neither the Company nor any of its Subsidiaries has stored any Hazardous
Materials on real properties now or formerly owned, leased or operated by any of them
and has not disposed of any Hazardous Materials in a manner contrary to any
Environmental Laws in each case in any manner that could reasonably be expected to
result in a Material Adverse Effect; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all buildings on all real properties now owned, leased or operated by the
Company or any of its Subsidiaries are in compliance with applicable Environmental Laws,
except where failure to comply could not reasonably be expected to result in a Material
Adverse Effect.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4.17. Solvency.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is, and after giving effect to the transactions contemplated by the Financing
Documents will be, a &#147;solvent institution&#148;, as said term is used in Section 1405(c) of the New York
Insurance Law, whose &#147;obligations . . . are not in default as to principal or interest&#148;, as said
terms are used in said Section&nbsp;1405(c).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>5. INFORMATION AS TO COMPANY.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>5.1. Financial and Business Information.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall deliver to each holder of Notes that is an Institutional Investor:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Quarterly Statements</U> &#151; within 45&nbsp;days after the end of each quarterly
fiscal period in each fiscal year of the Company (other than the last quarterly fiscal
period of each such fiscal year), duplicate copies of,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a consolidated balance sheet of the Company and its Subsidiaries as at the
end of such quarter, and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) consolidated statements of income, changes in shareholders&#146; equity and
cash flows of the Company and its Subsidiaries, for such quarter and (in the case of
the second and third quarters) for the portion of the fiscal year ending with such
quarter,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 1%">setting forth in each case in comparative form the figures for the corresponding periods in
the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP
applicable to quarterly financial statements generally, and certified by a Senior Financial
Officer as fairly presenting, in all material respects, the financial position of the
companies being reported on and their results of operations and cash flows, subject to
changes resulting from year-end adjustments, provided that delivery within the time period
specified above of copies of the Company&#146;s Quarterly Report on Form 10-Q prepared in
compliance with the requirements therefor and filed with the Securities and Exchange
Commission shall be deemed to satisfy the requirements of this Section&nbsp;5.1(a);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Annual Statements</U> &#151; within 90&nbsp;days after the end of each fiscal year
of the Company, duplicate copies of,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a consolidated balance sheet of the Company and its Subsidiaries as at the
end of such year, and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) consolidated statements of income, changes in shareholders&#146; equity and
cash flows of the Company and its Subsidiaries for such year,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 1%">setting forth in each case in comparative form the figures for the previous fiscal year, all
in reasonable detail, prepared in accordance with GAAP, and accompanied by
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) an opinion thereon of independent public accountants of recognized
national standing, which opinion shall state that such financial statements present
fairly, in all material respects, the financial position of the companies being
reported upon and their results of operations and cash flows and have been prepared
in conformity with GAAP, and that the examination of such accountants in connection
with such financial statements has been made in accordance with generally accepted
auditing standards, and that such audit provides a reasonable basis for such
opinion in the circumstances, and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) a certificate of such accountants stating that they have reviewed this
Agreement and stating further whether, in making their audit, they have become
aware of any condition or event that then constitutes a Default or an Event of
Default, and, if they are aware that any such condition or event then exists,
specifying the nature and period of the existence thereof (it being understood that
such accountants shall not be liable, directly or indirectly, for any failure to
obtain knowledge of any Default or Event of Default unless such accountants should
have obtained knowledge thereof in making an audit in accordance with generally
accepted auditing standards or did not make such an audit),
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 1%">provided that the delivery within the time period specified above of the Company&#146;s Annual
Report on Form 10-K for such fiscal year (together with the Company&#146;s annual report to
shareholders, if any, prepared pursuant to Rule&nbsp;14a-3 under the Exchange Act) prepared in
accordance with the requirements therefor and filed with the Securities and Exchange
Commission, together with the accountant&#146;s certificate described in clause (B)&nbsp;above, shall
be deemed to satisfy the requirements of this Section&nbsp;5.1(b);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>SEC and Other Reports</U> &#151; promptly upon their becoming available, one
copy of (i)&nbsp;each financial statement, report, notice or proxy statement sent by the
Company or any Subsidiary generally to its shareholders or to its creditors (other than
the Company or another Subsidiary), and (ii)&nbsp;each regular or periodic report, each
registration statement (without exhibits except as expressly requested by such holder),
and each prospectus and all amendments thereto filed by the Company or any Subsidiary
with the Securities and Exchange Commission and of each press release and other
statement made available generally by the Company or any Subsidiary to the public
concerning developments that are Material;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <U>Notice of Default or Event of Default</U> &#151; promptly, and in any event
within five days after a Responsible Officer becoming aware of the existence of any
Default or Event of Default or that any Person has given any notice or taken any action
with respect to a claimed default hereunder or that any Person has given any notice or
taken any action with respect to a claimed default of the type referred to in Section
9(f), a written notice specifying the nature and period of existence thereof and what
action the Company is taking or proposes to take with respect thereto;
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <U>ERISA Matters</U> &#151; promptly, and in any event within five days after a
Responsible Officer becoming aware of any of the following, a written notice setting
forth the nature thereof and the action, if any, that the Company or an ERISA Affiliate
proposes to take with respect thereto:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) with respect to any Plan, any reportable event, as defined in
section 4043(c) of ERISA and the regulations thereunder, for which notice thereof
has not been waived pursuant to such regulations as in effect on the date hereof; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the taking by the PBGC of steps to institute, or the threatening by the
PBGC of the institution of, proceedings under section 4042 of ERISA for the
termination of, or the appointment of a trustee to administer, any Plan, or the
receipt by the Company or any ERISA Affiliate of a notice from a Multiemployer Plan
that such action has been taken by the PBGC with respect to such Multiemployer Plan;
or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any event, transaction or condition that could result in the incurrence
of any liability by the Company or any ERISA Affiliate pursuant to Title I or IV of
ERISA or the penalty or excise tax provisions of the Code relating to employee
benefit plans, or in the imposition of any Lien on any of the rights, properties or
assets of the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or
such penalty or excise tax provisions, if such liability or Lien, taken together
with any other such liabilities or Liens then existing, could reasonably be expected
to have a Material Adverse Effect;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <U>Notices from Governmental Authority</U> &#151; promptly, and in any event
within 30&nbsp;days of receipt thereof, copies of any notice to the Company or any Subsidiary
from any federal or state Governmental Authority relating to any order, ruling, statute
or other law or regulation that could reasonably be expected to have a Material Adverse
Effect; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <U>Requested Information</U> &#151; with reasonable promptness, such other data
and information relating to the business, operations, affairs, financial condition,
assets or properties of the Company or any of its Subsidiaries or relating to the
ability of the Company to perform its obligations hereunder and under the Notes or
relating to the ability of a Subsidiary Guarantor to perform its obligations under its
respective Subsidiary Guarantee, in each case as from time to time may be reasonably
requested by any holder of Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>5.2. Officer&#146;s Certificate.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each set of financial statements delivered to a holder of Notes pursuant to Section&nbsp;5.1(a) or
Section&nbsp;5.1(b) shall be accompanied by a certificate of a Senior Financial Officer setting forth:
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Covenant Compliance</U> &#151; the information (including detailed
calculations) required in order to establish (i)&nbsp;whether the Company was in compliance
with the requirements of each of Sections&nbsp;7.7, 8.2, 8.6, 8.7, 8.8, and 8.9 during the
quarterly or annual period covered by the statements then being furnished (including
with respect to each such Section, where applicable, the calculations of the maximum or
minimum amount, ratio or percentage, as the case may be, permissible under the terms of
such Sections, and the calculation of the amount, ratio or percentage then in
existence); and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Default</U> &#151; a statement that such Senior Financial Officer has reviewed
the relevant terms hereof and has made, or caused to be made, under his or her
supervision, a review of the transactions and conditions of the Company and its
Subsidiaries from the beginning of the quarterly or annual period covered by the
statements then being furnished to the date of the certificate and that such review
shall not have disclosed the existence during such period of any condition or event that
constitutes a Default or an Event of Default or, if any such condition or event existed
or exists (including, without limitation, any such event or condition resulting from the
failure of the Company or any Subsidiary to comply with any Environmental Law),
specifying the nature and period of existence thereof and what action the Company shall
have taken or proposes to take with respect thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>5.3. Inspection.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall permit the representatives of each holder of Notes that is an Institutional
Investor:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>No Default</U> &#151; if no Default or Event of Default then exists, at the
expense of such holder and upon reasonable prior notice to the Company, to visit the
principal executive office of the Company, to discuss the affairs, finances and accounts
of the Company and its Subsidiaries with the Company&#146;s officers, and (with the consent
of the Company, which consent will not be unreasonably withheld) its independent public
accountants, and (with the consent of the Company, which consent will not be
unreasonably withheld) to visit the other offices and properties of the Company and each
Subsidiary, all at such reasonable times and as often as may be reasonably requested in
writing; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Default</U> &#151; if a Default or Event of Default then exists, at the expense
of the Company, to visit and inspect any of the offices or properties of the Company or
any Subsidiary, to examine all their respective books of account, records, reports and
other papers, to make copies and extracts therefrom, and to discuss their respective
affairs, finances and accounts with their respective officers, employees and independent
public accountants (and by this provision the Company authorizes said accountants to
discuss the affairs, finances and accounts of the Company and its Subsidiaries), all at
such times and as often as may be requested.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>6. PAYMENT AND PREPAYMENT OF THE NOTES.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to the payment of the entire unpaid principal amount of the Notes at the final
maturity thereof, the Company will make required offers of prepayment and may make optional
prepayments in respect of the Notes as hereinafter provided.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>6.1. Certain Prepayments.</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <B>Reserved.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <B>Other Required Offers of Prepayment.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If the Company or any of its Subsidiaries makes an Asset Sale (other than
any Asset Sale permitted by Section&nbsp;8.2(a), (b)&nbsp;or (c)) which results in the
realization by such Person of Net Cash Proceeds, the Company shall immediately offer
to prepay, at par and without premium, an aggregate principal amount of Notes equal
to (x)&nbsp;such Net Cash Proceeds that exceed $1,000,000 (such amount of Net Cash
Proceeds as the &#147;<B>Note Prepayment Basis</B>&#148;) <I>times </I>(y) (i)&nbsp;if the Leverage Ratio as of
the last fiscal quarter preceding such Asset Sale is greater than or equal to 3.50
to 1.00, 75% of such Note Prepayment Basis, (ii)&nbsp;if the Leverage Ratio as of the
last fiscal quarter preceding such Asset Sale is less than 3.50 to 1.00 but greater
than or equal to 2.50 to 1.00, 50% of such Note Prepayment Basis, and (iii)&nbsp;if the
Leverage Ratio as of the last fiscal quarter preceding such Asset Sale is less than
2.50 to 1.00, 0% of such Note Prepayment Basis, <I>provided however, </I>in the case of
clause (y)(iii) that (A)&nbsp;the Required Lenders have approved the release of the
Superpriority Amount and such release is effective under the Intercreditor Agreement
and (B)&nbsp;the Asset Sale mandatory prepayment provisions (or corresponding provisions)
in the Amended and Restated 2006 NPA, the Credit Agreement and the Term Loan
Agreement are similar to this Section&nbsp;6.1(b)(i). Any such offer shall be made and
any such prepayment shall be applied as set forth in clause (vi)&nbsp;below and to be
subject to the Intercreditor Agreement and to be reduced by any amounts required to
be paid to other Creditors pursuant to the Intercreditor Agreement. Any portion of
the Note Prepayment Basis not used to prepay the Notes shall be reinvested in
Reinvestment Property so long as within 180&nbsp;days after the receipt of such Net Cash
Proceeds, such purchase shall have been consummated or contractually committed to be
consummated pursuant to a definitive agreement (and, if so contractually committed,
actually reinvested within 270&nbsp;days of the date of receipt of such Net Cash
Proceeds); and <I>provided, however</I>, that any such Net Cash Proceeds not subject to
such definitive agreement or so reinvested as required above shall be immediately
applied to the prepayment of the Notes as set forth in this Section&nbsp;6.1(b)(i). As
used herein, &#147;<B>Reinvestment Property</B>&#148; means property that is useful in the business
of the Company and its Subsidiaries.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Upon the sale or issuance by the Company or any of its Subsidiaries of any
of its Equity Interests, the Company shall offer to prepay, at par and without premium, an aggregate principal amount of Notes equal to 85%
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">of all Net Cash Proceeds received therefrom (reduced by any amounts required to be paid
to the other Creditors pursuant to the Intercreditor Agreement), immediately upon
receipt thereof by the Company or such Subsidiary (such offer to be made and such
prepayments to be applied as set forth in clause (vi)&nbsp;below and to be subject to the
Intercreditor Agreement).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Upon the incurrence or issuance by the Company or any of its Subsidiaries
of any Indebtedness, the Company shall offer to prepay, at par and without premium,
an aggregate principal amount of Notes equal to 100% of all Net Cash Proceeds
received therefrom (reduced by any amounts required to be paid to the other
Creditors pursuant to the Intercreditor Agreement), immediately upon receipt thereof
by the Company or such Subsidiary (such offer to be made and such prepayments to be
applied as set forth in clause (vi)&nbsp;below and to be subject to the Intercreditor
Agreement).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Upon any Extraordinary Receipt received by or paid to or for the account
of the Company or any of its Subsidiaries, and not otherwise included in
clauses (i), (ii)&nbsp;or (iii)&nbsp;of this Section&nbsp;6.1(b), the Company shall offer to
prepay, at par and without premium, an aggregate principal amount of Notes equal to
100% of all Net Cash Proceeds received therefrom (reduced by any amounts required to
be paid to the other Creditors pursuant to the Intercreditor Agreement), immediately
upon receipt thereof by the Company or such Subsidiary (such offer to be made and
such prepayments to be applied as set forth in clause (vi)&nbsp;below and to be subject
to the Intercreditor Agreement); <U>provided</U>, <U>however</U>, that with
respect to any proceeds of insurance, condemnation awards (or payments in lieu
thereof) or indemnity payments, at the election of the Company, and so long as no
Default shall have occurred and be continuing, the Company or such Subsidiary may
apply such cash proceeds within 180&nbsp;days after the receipt thereof to replace or
repair the equipment, fixed assets or real property in respect of which such cash
proceeds were received or contractually agree to such replacement or repair within
such 180&nbsp;day period pursuant to definitive agreement (and, if so contractually
committed, actually utilized within 270&nbsp;days of the date of receipt of such cash
proceeds); and <U>provided</U> <U>further</U>, <U>however</U>, that any Net Cash
Proceeds not subject to such definitive agreement or so applied as required above
shall be immediately applied to the prepayment of the Notes as set forth in this
Section&nbsp;6.1(b)(iv).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Within 15&nbsp;days after the date that the audited financial statements of the
Company are required to be delivered pursuant to Section&nbsp;5.1(b), commencing with the
audited financial statements for fiscal year 2008, and by each such date for each
fiscal year thereafter, the Company shall offer to prepay, at par and without
premium, Notes in an aggregate principal amount equal to (i)&nbsp;if the Leverage Ratio
as of the last fiscal quarter of such fiscal year is greater than or equal to 3.50
to 1.00, 75% of the Excess Cash Flow, if any, for the immediately preceding fiscal
year, (ii)&nbsp;if the Leverage Ratio as of the last fiscal quarter of such fiscal year is less than 3.50 to 1.00 but greater than or equal to 2.50 to
1.00, 50%
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">of the Excess Cash Flow, if any, for the immediately preceding fiscal
year, and (iii)&nbsp;if the Leverage Ratio as of the last fiscal quarter of such fiscal
year is less than 2.50 to 1.00, 0% of the Excess Cash Flow for the immediately
preceding fiscal year, provided in the case of clause (iii)&nbsp;that (A)&nbsp;the Required
Lenders have approved the release of the Superpriority Amount and such release is
effective under the Intercreditor Agreement and (B)&nbsp;the Excess Cash Flow mandatory
prepayment provisions in the Amended and Restated 2006 NPA, the Credit Agreement and
the Term Loan Agreement are similar to this Section&nbsp;6.1(b)(v) (such offer to be made
and such prepayment to be applied as set forth in clause (vi)&nbsp;below and to be
subject to the Intercreditor Agreement and in each case to be reduced by any amounts
to be paid to the other Creditors pursuant to the Intercreditor Agreement);
<U>provided</U>, <U>however</U>, the Excess Cash Flow, if any, to be paid for the
fiscal year ending 2008 shall be calculated on Excess Cash Flow, if any, for the
last fiscal quarter of fiscal year 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Any offer to prepay, at par, required pursuant to Section&nbsp;6.1(b)(i), (ii),
(iii), (iv)&nbsp;or (v)&nbsp;shall (A)&nbsp;be an offer to prepay, at par, each outstanding Note in
principal amount ratably, together with interest accrued thereon as of the date of
payment, (B)&nbsp;be in writing and shall offer to prepay the Notes ratably on a date
which is not less than 30&nbsp;days and not more than 60&nbsp;days after the date of the
notice of offer, (C)&nbsp;if any Noteholder shall fail to accept in writing such offer of
prepayment within 15 Business Days of receipt of the notice of offer, then the
amount of such Noteholder&#146;s ratable portion shall be offered, at par and in
accordance with this section 6.1(b)(vi), to such other Noteholders as may have
accepted such offer, (D)&nbsp;if every Noteholder shall fail to accept in writing such
offer of prepayment within 15 Business Days of receipt of the notice of offer, then,
the aggregate amount of the Noteholders&#146; ratable portions shall be offered, at par
and in accordance with similar provisions of the Amended and Restated 2004 NPA, to
the 2004 Noteholders, and (E)&nbsp;if every Noteholder and every 2004 Noteholder shall
fail to accept in writing such offer of prepayment within 15 Business Days of
receipt of the notice of offer, then the Company may retain and use in the operation
of its business the aggregate amount of the Noteholders&#146; ratable portions as shall
not have been accepted for prepayment of the Notes or the 2004 Notes.
Notwithstanding anything in this Section&nbsp;6.1(b) to the contrary, the application of
Net Cash Proceeds required to be made hereunder shall be applied as provided in the
Intercreditor Agreement until such time, if any, that the Intercreditor Agreement is
no longer in effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>6.2. Optional Prepayments.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may, at its option and upon notice as provided below, prepay at any time after
June&nbsp;5, 2009 all, or from time to time any part of, the Notes (in a minimum amount of $5,000,000
and otherwise in multiples of $1,000,000) at the principal amount so prepaid, together with
interest accrued thereon to the date of such prepayment, without any premium, provided that the
Company may not effect any such prepayment directly or indirectly from, or in
</DIV>



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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">anticipation of the receipt of, the proceeds (or any part thereof) of any refinancing
operation involving
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the issuance or sale of Preferred Stock of the Company or any Affiliate of the
Company, if such Stock has a dividend rate lower than 5.78% per annum or is redeemable
(other than in liquidation) at the option of the Company or such Affiliate or any holder
of such Stock prior to the maturity date of the Notes, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the incurring by the Company or any Affiliate of the Company of any
Indebtedness having a fixed rate of interest that is lower than 5.78% per annum or a
Remaining Average Life less than the Remaining Average Life of the Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each notice of prepayment of any of the Notes pursuant to this Section&nbsp;6.2 shall state that
such prepayment is not being effected in contravention of the provisions of this Section.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will give each holder of Notes written notice of each optional prepayment under
this Section&nbsp;6.2 not less than 30&nbsp;days and not more than 60&nbsp;days prior to the date fixed for such
prepayment. Each such notice shall specify the date fixed for such prepayment (which shall be a
Business Day), the aggregate principal amount of the Notes to be prepaid on such date, the
principal amount of Notes (if any) held by such holder to be prepaid (determined in accordance with
Section&nbsp;6.3) and the interest to be paid on the prepayment date with respect to such principal
amount being prepaid.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>6.3. Allocation of Partial Prepayments.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the case of a partial prepayment of the Notes pursuant to Section&nbsp;6.1(a) or Section&nbsp;6.2,
the principal amount of the Notes to be prepaid shall be allocated among all the Notes at the time
outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts
thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>6.4. Maturity; Surrender, etc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the case of each prepayment of Notes pursuant to this Section&nbsp;6, the principal amount of
each Note to be prepaid shall mature and become due and payable on the date fixed for such
prepayment, together with interest on such principal amount accrued to such date. From and after
such date, unless the Company shall fail to pay such principal amount when so due and payable,
together with the interest, as aforesaid, interest on such principal amount shall cease to accrue.
Any Note paid or prepaid in full shall be surrendered to the Company and canceled and shall not be
reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>6.5. Purchase of Notes.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will not and will not permit any Affiliate to purchase, redeem, prepay or
otherwise acquire, directly or indirectly, any of the outstanding Notes except (a)&nbsp;upon the payment
or prepayment of the Notes in accordance with the terms of this Agreement and the
</DIV>



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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notes or (b)&nbsp;pursuant to an offer made by the Company or any such Affiliate to all holders of
the Notes to purchase Notes on the same terms and conditions, pro rata among all Notes tendered,
which offer shall remain outstanding for a reasonable period of time (not to be less than 30&nbsp;days).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Notes so repurchased shall immediately upon acquisition thereof be canceled and no Notes
shall be issued in substitution or exchange therefor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Promptly and in any event within five Business Days after each such purchase of Notes, the
Company will furnish each holder of the Notes with a certificate of a Senior Financial Officer
describing such purchase (including the aggregate principal amount of Notes so purchased and the
purchase price therefor) and certifying that such purchase was made in compliance with the
requirements of this Section.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>7. AFFIRMATIVE COVENANTS.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company covenants that so long as any of the Notes are outstanding:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>7.1. Compliance with Law.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will and will cause each of its Subsidiaries to comply with all laws, ordinances
or governmental rules or regulations to which each of them is subject, including without limitation
Environmental Laws, and will obtain and maintain in effect all licenses, certificates, permits,
franchises and other governmental authorizations necessary to the ownership of their respective
properties or to the conduct of their respective businesses, in each case to the extent necessary
to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or
failures to obtain or maintain in effect such licenses, certificates, permits, franchises and other
governmental authorizations could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>7.2. Insurance.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will and will cause each of its Subsidiaries to maintain, with financially sound
and reputable insurers, insurance with respect to their respective properties and businesses
against such casualties and contingencies, of such types, on such terms and in such amounts
(including deductibles, co-insurance and self-insurance, if adequate reserves are maintained with
respect thereto) as is customary in the case of entities of established reputations engaged in the
same or a similar business and similarly situated.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>7.3. Maintenance of Properties.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will and will cause each of its Subsidiaries to maintain and keep, or cause to be
maintained and kept, their respective properties in good repair, working order and condition (other
than ordinary wear and tear), so that the business carried on in connection therewith may be
properly conducted at all times, provided that this Section shall not prevent the Company or any
Subsidiary from discontinuing the operation and the maintenance of any of its properties if such
discontinuance is desirable in the conduct of its business and the Company has
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">concluded that such discontinuance could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>7.4. Payment of Taxes and Claims.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will and will cause each of its Subsidiaries to file all tax returns required to
be filed in any jurisdiction and to pay and discharge all taxes shown to be due and payable on such
returns and all other taxes, assessments, governmental charges, or levies imposed on them or any of
their properties, assets, income or franchises, to the extent such taxes and assessments have
become due and payable and before they have become delinquent and all claims for which sums have
become due and payable that have or might become a Lien on properties or assets of the Company or
any Subsidiary, provided that neither the Company nor any Subsidiary need pay any such tax or
assessment or claim if (i)&nbsp;the amount, applicability or validity thereof is contested by the
Company or such Subsidiary on a timely basis in good faith and in appropriate proceedings, and the
Company or a Subsidiary has established adequate reserves therefor in accordance with GAAP on the
books of the Company or such Subsidiary or (ii)&nbsp;the nonpayment of all such taxes and assessments in
the aggregate could not reasonably be expected to have a Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>7.5. Corporate Existence, etc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will at all times preserve and keep in full force and effect its corporate
existence. Subject to Sections&nbsp;8.2 and 8.3, the Company will at all times preserve and keep in
full force and effect the corporate existence of each of its Subsidiaries (unless merged into the
Company or a Subsidiary) and all rights and franchises (as franchisee) of the Company and its
Subsidiaries unless, in the good faith judgment of the Company, the termination of or failure to
preserve and keep in full force and effect such corporate existence, right or franchise could not,
individually or in the aggregate, have a Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>7.6. Additional Subsidiary Guarantees; Release of Subsidiary Guarantees.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Subsidiary is or becomes a Domestic Subsidiary, or any Subsidiary provides or has
outstanding a Guaranty of Indebtedness outstanding in respect of the Credit Facility Documents or
the Term Loan Documents, then the Company will cause such Subsidiary to execute and deliver a
Subsidiary Guarantee, unless such Domestic Subsidiary (i)&nbsp;is substantially concurrently merged with
or into the Company or any other Subsidiary Guarantor (with the Company or such Subsidiary
Guarantor being the surviving Person), or (ii)&nbsp;inactive or has no assets other than the capital
stock or other ownership interests of another Domestic Subsidiary. Promptly and in any event
within ten Business Days after the execution and delivery of each such Subsidiary Guarantee, the
Company will furnish each holder of the Notes with a counterpart of such executed Subsidiary
Guarantee, together with an opinion of Armstrong Teasdale LLP or other counsel reasonably
satisfactory to the Required Holders (which opinion shall be reasonably satisfactory to the
Required Holders and may be subject to customary exceptions, qualifications and limitations under
the circumstances) to the effect that such Subsidiary Guarantee has been duly authorized, executed
and delivered by such Subsidiary and is valid, binding and enforceable in accordance with its
terms. The Company will cause each Subsidiary Guarantee to remain in full force and effect at all times after the execution and
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">delivery thereof. Any Subsidiary, the Voting Equity Interests of which is being disposed of in an
Asset Sale in accordance with the provisions of Section&nbsp;8.2 shall, at the Company&#146;s request, be
discharged from all of its obligations and liabilities under its Subsidiary Guarantee by the
Required Holders entering into a release in form and substance reasonably satisfactory to the
Required Holders, and each Noteholder and each other holder of a Note, by acceptance of such Note,
agrees to enter into such a satisfactory release promptly upon request, except that this sentence
shall not apply (a)&nbsp;if a Default or Event of Default has occurred and is continuing, (b)&nbsp;to a
Subsidiary if any amount is then due and payable under its Subsidiary Guarantee or (c)&nbsp;to a
Subsidiary which at the time is a guarantor of any other Indebtedness of the Company or another
Subsidiary party to a Subsidiary Guarantee that is not also concurrently being released.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In furtherance of the preceding paragraph, if Spartech Canada, Inc. shall at any time
guarantee any Indebtedness of the Company (whether or not it is a Significant Subsidiary), the
Company will cause Spartech Canada, Inc. to execute and deliver a Subsidiary Guarantee and
otherwise comply with the requirements of this Section&nbsp;7.6, prior to or concurrently with the
delivery by Spartech Canada, Inc. of any Guaranty in respect of such Indebtedness of the Company.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>7.7.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Minimum Company and Subsidiary Guarantor Consolidated Total Operating Income or Consolidated
Total Assets.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall cause either (a)&nbsp;at least 75% of Consolidated Total Operating Income to be
generated by the Company and the Subsidiary Guarantors or (b)&nbsp;75% of Consolidated Total Assets to
be owned by the Company and the Subsidiary Guarantors.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>7.8. Collateral.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall, and shall cause each Granting Party to, (a)&nbsp;execute the Security Agreement
(or a joinder agreement thereto) in order to grant a Lien in all personal property (excluding
certain intellectual property agreed to by the Required Holders and covering only 65% of the equity
interests of any Foreign Subsidiary) now or hereafter owned by the Company and such Granting
Parties, subject only to Permitted Liens, in favor of the Collateral Agent, for the ratable benefit
of the Creditors, to secure the Senior Secured Obligations pursuant to the terms and conditions of
the Security Documents and (b)&nbsp;deliver such other documentation as the Collateral Agent may request
in connection with the foregoing, including without limitation, landlord&#146;s waivers, certified
resolutions and other Organization Documents and authorizing documents of such Person, favorable
opinions of counsel to such Person (which shall cover, among other things, the legality, validity,
binding effect and enforceability of the documentation referred to above and the perfection of the
Collateral Agent&#146;s Liens thereunder), all in form, content and scope satisfactory to the Collateral
Agent. If requested by the Majority Creditors at any time after the Effective Date, the Company
and each Granting Party shall enter into and deliver to the Collateral Agent a mortgage, deed of
trust or other security document, in form and substance acceptable to the Collateral Agent (a
&#147;<B>Mortgage Instrument</B>&#148;), with respect to each owned real property that has an aggregate fair market
value of at least $3,000,000 (the &#147;<B>Mortgaged Property</B>&#148;) to secure the Senior Secured Obligations,
together with such title insurance policies, evidence of insurance, insurance certificates and endorsements, surveys,
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">appraisals, environmental assessments, consents, estoppels, waivers, subordination agreements, bond
resolutions, officers certificates, corporate documents, opinions of counsel, and other documents
and instruments as the Collateral Agent shall reasonably request.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>7.9. Total Outstandings under Credit Facility Documents.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following September&nbsp;9, 2008, notwithstanding the amount of Aggregate Commitments (as such term
is defined in the Credit Facility Documents as in effect on the Effective Date), the Company shall
not allow the amount of &#147;Total Outstandings&#148; (as such term is defined in the Credit Facility
Documents as in effect on the Effective Date) to exceed $145,000,000 at any time, provided that, at
and from such time as (a)&nbsp;the Leverage Ratio determined as of the date of the most recently ended
fiscal quarter of the Company is less than 2.50 to 1.00 and (b)&nbsp;the Required Lenders have approved
the release of the Superpriority Amount and such release is effective under the Intercreditor
Agreement, then the amount of such Total Outstandings shall not exceed $175,000,000 at any time.
Notwithstanding the other provisions of this Agreement, so long as &#147;Total Outstandings&#148; are less
than or equal to $145,000,000 at such time, the Company shall be permitted to reduce &#147;Aggregate
Commitments&#148; (as such term is defined in the Credit Facility Documents) from $175,000,000 to
$145,000,000 at such time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8. NEGATIVE COVENANTS.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company covenants that so long as any of the Notes are outstanding, the Company shall not,
nor shall it permit any Subsidiary to, directly or indirectly:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.1. Liens.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Create, incur, assume or suffer to exist any Lien upon any of its property, assets or
revenues, whether now owned or hereafter acquired, other than the following (collectively,
&#147;<B>Permitted Liens</B>&#148;):
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Liens in respect of property of the Company or a Subsidiary existing on the
September&nbsp;4, 2008 and described in Schedule&nbsp;8.1, and any renewals or extensions thereof,
provided (i)&nbsp;the property covered thereby is not changed and (ii)&nbsp;the amount of
Indebtedness secured thereby is not increased;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Liens in respect of property acquired or constructed by the Company or a
Subsidiary after the Effective Date, which are created at the time of or within 180&nbsp;days
after acquisitions or completion of construction of such property to secure Indebtedness
assumed or incurred to finance all or any part of the purchase price or cost of
construction of such property, provided that in any such case;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) no such Lien shall extend to or cover any other property of the Company or
such Subsidiary, as the case may be, and
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the aggregate principal amount of Indebtedness secured by all such Liens
in respect of any such property shall not exceed the cost of such property and any
improvements then being financed;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Liens in respect to property acquired by the Company or a Subsidiary after the
Effective Date, existing on such property at the time of acquisition thereof (and not
created in anticipation thereof), or in the case of any Person that after the Effective
Date becomes a Subsidiary or is consolidated with or merged with or into the Company or
a Subsidiary or sells, leases or otherwise disposes of all or substantially all of its
property to the Company or a Subsidiary, Liens existing at the time such Person becomes
a Subsidiary or is so consolidated or merged or effects such sale, lease or other
disposition of property (and not created in anticipation thereof), provided that in any
such case no such Lien shall extend to or cover any other property of the Company or
such Subsidiary, as the case may be;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Liens securing Indebtedness owed by a Subsidiary to the Company or to a
Wholly-Owned Subsidiary which is a Subsidiary Guarantor;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Liens for taxes not yet due or which are being contested in good faith and by
appropriate proceedings diligently conducted, if adequate reserves with respect thereto
are maintained on the books of the applicable Person in accordance with GAAP;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) carriers&#146;, warehousemen&#146;s, mechanics&#146;, materialmen&#146;s, repairmen&#146;s or other like
Liens arising in the ordinary course of business which are not overdue for a period of
more than 30&nbsp;days or which are being contested in good faith and by appropriate
proceedings diligently conducted, if adequate reserves with respect thereto are
maintained on the books of the applicable Person;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) pledges or deposits in the ordinary course of business in connection with
workers&#146; compensation, unemployment insurance and other social security legislation,
other than any Lien imposed by ERISA;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) deposits to secure the performance of bids, trade contracts and leases (other
than Indebtedness), statutory obligations, surety bonds (other than bonds related to
judgments or litigation), performance bonds and other obligations of a like nature
incurred in the ordinary course of business;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) easements, rights-of-way, restrictions and other similar encumbrances affecting
real property which, in the aggregate, are not substantial in amount, and which do not
in any case materially detract from the value of the property subject thereto or
materially interfere with the ordinary conduct of the business of the applicable Person;
and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Liens in respect of property of the Company and its Domestic Subsidiaries to
secure the Senior Secured Obligations.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Section&nbsp;8.1 any Lien existing in respect of property at the time such
property is acquired or in respect of property of a Person at the time such Person is acquired,
consolidated or merged with or into the Company or a Subsidiary shall be deemed to have been
created at that time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.2. Disposition of Assets.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Make any sale, transfer, lease (as lessor), loan or other disposition of any property or
assets (an &#147;<B>Asset Sale</B>&#148;), other than the following:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Asset Sales in the ordinary course of business;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Asset Sales of property or assets by a Subsidiary to the Company or a
Wholly-Owned Subsidiary that is a Subsidiary Guarantor;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Asset Sale as a result of the asset exchange in connection with the
Acquisition of assets of a division of an unaffiliated company previously disclosed to
the Noteholders; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) other Asset Sales, <I>provided </I>that in each case
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) immediately before and after giving effect thereto, no Default shall have
occurred and be continuing, and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the aggregate net book value of the property or assets disposed of in such
Asset Sale and all other Asset Sales by the Company and its Subsidiaries during the
immediately preceding twelve months does not exceed 15% of Consolidated Net Worth
(as of the last day of the quarterly accounting period ending on or most recently
prior to the last day of such twelve month period).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Section&nbsp;8.2, any Voting Equity Interests of a Subsidiary that are the
subject of an Asset Sale shall be valued at the greater of (x)&nbsp;the fair market value of such shares
as determined in good faith by the Board of Directors of the Company and (y)&nbsp;the aggregate net book
value of the assets of such Subsidiary multiplied by a fraction of which the numerator is the
aggregate number of Voting Equity Interests of such Subsidiary disposed of in such Asset Sale and
the denominator is the aggregate number of Voting Equity Interests of such Subsidiary outstanding
immediately prior to such Asset Sale.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.3. Consolidations and Mergers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidate with or merge with any other corporation or convey, transfer or lease all or
substantially all of its assets in a single transaction or series of transactions to any Person
except a Subsidiary may consolidate with or merge with any other corporation or convey or transfer
all or substantially all of its assets to (a)&nbsp;the Company (provided that the Company shall be the
continuing or surviving corporation) or a then-existing Wholly-Owned Subsidiary that is a
Subsidiary Guarantor and (b)&nbsp;any Person in an Asset Sale involving all of the outstanding stock
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">or all or substantially all of the assets of such Subsidiary, in either case subject to the
limitation of Section&nbsp;8.2.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.4. Loans and Investments.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase or acquire, or make any commitment therefor, any capital stock, equity interest, or
any obligations or other securities of, or any interest in, any Person, or make or commit to make
any Acquisitions, or make or commit to make any advance, loan, extension of credit or capital
contribution to or any other investment in, any Person including any Affiliate of the Company
(collectively, &#147;<B>Investments</B>&#148;), except for:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Investments held by the Company or any Subsidiary in the form of cash
equivalents or short term marketable securities;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) extensions of credit in the nature of accounts receivable or notes receivable
arising from the sale or lease of goods or services in the ordinary course of business;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) extensions of credit by the Company to any of its Wholly-Owned Subsidiaries or
by any of its Wholly-Owned Subsidiaries to another of its Wholly-Owned Subsidiaries;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) pledges or deposits as required in the ordinary course of business in
connection with workmen&#146;s compensation, unemployment insurance and other social security
legislation;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) advances, loans, extensions of credit or investments in the ordinary course of
business; <I>provided </I>that the aggregate amount thereof shall not exceed $15,000,000;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Investments incurred in order to consummate Permitted Acquisitions; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) purchases and other acquisitions by the Company of stock of the Company to the
extent permitted by Section&nbsp;8.13.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.5. Limitation on Indebtedness.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Create, assume, incur, guarantee, permit to exist or otherwise become liable in respect of any
Indebtedness unless, immediately before and after giving effect thereto, no Default exists or would
result therefrom; <I>provided, however</I>, notwithstanding anything herein to the contrary, in no event
shall the aggregate amount of Indebtedness outstanding at any time of all Subsidiaries (excluding
(i)&nbsp;Guarantees permitted pursuant to clauses&nbsp;(a), (b), (c)&nbsp;and (d)&nbsp;of Section&nbsp;8.12,
(ii)&nbsp;Indebtedness of a Subsidiary existing on July&nbsp;30, 2008 and described in Schedule&nbsp;4.13 but no
increase of any such Indebtedness, (iii)&nbsp;Indebtedness of a Subsidiary that is a Subsidiary
Guarantor owed to the Company or any Subsidiary Guarantor or Indebtedness of a Subsidiary that is
not a Subsidiary Guarantor owed to the Company or any other Subsidiary, (iv)&nbsp;Indebtedness under the
Financing Documents, and (v)&nbsp;Indebtedness of a Subsidiary secured
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">by Liens permitted pursuant to clause&nbsp;(h) of Section&nbsp;8.1), exceed in aggregate amount
$5,000,000.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.6. Consolidated Net Worth.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permit Consolidated Net Worth at any time to be less than the sum of (i)&nbsp;$350,000,000 plus
(ii)&nbsp;50% of Consolidated Net Income for each fiscal quarter beginning with the fiscal quarter
ending on April&nbsp;30, 2006 (excluding any fiscal quarter in which Consolidated Net Income is not
positive) plus (iii)&nbsp;85% of the net proceeds of any equity issued by the Company after January&nbsp;31,
2006, minus (iv)&nbsp;non-cash impairment charges for goodwill, intangible and fixed assets at such time
of determination.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.7. Fixed Charge Coverage Ratio.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permit the Fixed Charge Coverage Ratio to be less than (a)&nbsp;1.50 to 1.00 at the end of any
fiscal quarter-end occurring during the period from and including the Effective Date through and
including the fourth fiscal quarter of fiscal year 2009, (b)&nbsp;1.75 to 1.00 at the end of any fiscal
quarter-end occurring during the period from and including the first day of the first fiscal
quarter of fiscal year 2010 through and including the second fiscal quarter of fiscal year 2010,
and (c)&nbsp;2.25 to 1.00 at the end of any fiscal quarter thereafter.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.8. Leverage Ratio.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permit the Leverage Ratio to exceed (a)&nbsp;4.35 to 1.00 at any time from and including the
Effective Date through and including the day immediately preceding the last day of the fourth
fiscal quarter of fiscal year 2008, (b)&nbsp;4.25 to 1.00 from and including the last day of the fourth
fiscal quarter of fiscal year 2008 through and including the day immediately preceding the last day
of the first fiscal quarter of fiscal year 2009, (c)&nbsp;4.00 to 1.00 from and including the last day
of the first fiscal quarter of fiscal year 2009 through and including the day immediately preceding
the last day of the third fiscal quarter of fiscal year 2009, (d)&nbsp;3.75 to 1.00 from and including
the last day of the third fiscal quarter of fiscal year 2009 through and including the day
immediately preceding the last day of the first fiscal quarter of fiscal year 2010, and (e)&nbsp;3.50 to
1.00 thereafter.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.9. Sale/Leasebacks.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sell, lease, transfer or otherwise dispose of (collectively, a &#147;<B>transfer</B>&#148;) any asset on terms
whereby the asset or a substantially similar asset is or may be leased or reacquired by the Company
or any Subsidiary over a period in excess of three years, unless after giving effect to such
transaction and the incurrence of Attributable Debt in respect thereof, the aggregate Attributable
Debt in connection with all sale and leaseback transactions of the Company and its Subsidiaries
entered into after the Effective Date in accordance with the provisions of this Section&nbsp;8.9, does
not exceed $10,000,000.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.10. Transactions with Affiliates.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enter into any transaction with any Affiliate of the Company (other than a Subsidiary), except
upon fair and reasonable terms no less favorable to the Company or such Subsidiary than would
obtain in a comparable arm&#146;s-length transaction with a Person not an Affiliate of the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.11. &#091;Reserved&#093;.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>8.12. Guarantees.</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Create, incur, assume or suffer to exist any Guarantees except:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) endorsements for collection or deposit in the ordinary course of business;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Guarantees of the Notes and Indebtedness of the Company and its Subsidiaries to
the extent such Indebtedness is permitted hereunder, <U>provided</U> that all
Guarantees in respect of Swap Contracts shall arise under contracts entered into in the
ordinary course of business as bona fide hedging transactions;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Guarantees of the Company and its Subsidiaries existing as of the Effective
Date and listed in Schedule&nbsp;4.13; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Guarantees of the Company or any Subsidiary in respect of the obligations
(which do not constitute Indebtedness) of (i)&nbsp;in the case of the Company, any
Subsidiary, and (ii)&nbsp;in the case of any Subsidiary, the Company or any Subsidiary of
such Subsidiary or any other Subsidiary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.13. Restricted Payments.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Declare or make any Restricted Payment except that (i)&nbsp;any Subsidiary may declare and pay
Dividends to (x)&nbsp;the Company, (y)&nbsp;a Subsidiary Guarantor, and (z)&nbsp;the parent of such Subsidiary;
and (ii)&nbsp;provided no Default exists or would result therefrom, the Company may pay Dividends not to
exceed $1,650,000 in aggregate amount during any fiscal quarter commencing with the Company&#146;s
fourth fiscal quarter of fiscal year 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.14. ERISA.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Engage in a prohibited transaction or violation of the fiduciary responsibility rules with
respect to any Plan which has resulted or could reasonably be expected to result in liability of
the Company in an aggregate amount in excess of $2,000,000; or (b)&nbsp;engage in a transaction that
could be subject to section&nbsp;4069 or 4212(c) of ERISA.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.15. Change in Business.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Engage in any material line of business substantially different from those lines of business
carried on by the Company and its Subsidiaries on the date hereof.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.16. Accounting Changes.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Make any significant change in accounting treatment or reporting practices, except as required
by GAAP, or change the fiscal year of the Company or of any Subsidiary.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.17. Amendment and Waivers of Subordinated Debt.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change or permit any Subsidiary to change or amend (or take any action or fail to take any
action the result of which is an effective amendment or change) or accept any waiver or consent
with respect to, any document, instrument or agreement relating to any Subordinated Debt that would
result in (a)&nbsp;an increase in the principal, interest, overdue interest, fees or other amounts
payable under any Subordinated Debt, (b)&nbsp;an acceleration of any date fixed for payment or
prepayment of principal, interest, fees or other amounts payable under any Subordinated Debt
(including, without limitation, as a result of any redemption), (c)&nbsp;a change in any of the
subordination provisions of any Subordinated Debt, or (d)&nbsp;any other change in any term or provision
of any Subordinated Debt that could reasonably be expected to have an adverse effect on the
interest of the Noteholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.18. Capital Expenditures.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permit Capital Expenditures of the Company and its Subsidiaries during (a)&nbsp;fiscal year 2008 to
exceed $20,000,000, (b)&nbsp;fiscal year 2009 to exceed $26,000,000, (c)&nbsp;fiscal year 2010 to exceed
$28,000,000, and (d)&nbsp;fiscal year 2011 to exceed $32,000,000.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.19. Credit Facility Documents.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in the Intercreditor Agreement, change or permit any Subsidiary
to change or amend (or take any action or fail to take any action the result of which is an
effective amendment or change) or accept any waiver or consent with respect to, any Credit Facility
Document that would result in (a)&nbsp;an increase in the principal (other than as specifically provided
by Section&nbsp;7.9), interest, overdue interest, fees or other amounts payable under any Credit
Facility Document, (b)&nbsp;an acceleration of any date fixed for payment or prepayment of principal,
interest, overdue interest, fees or other amounts payable under any Credit Facility Document,
(c)&nbsp;the terms and provisions of the Credit Facility Documents, including without limitation the
negative covenants and the events of default, being more restrictive to the Company and its
Subsidiaries than the terms and provisions of this Agreement, or (d)&nbsp;the Company or any Subsidiary
being subject to any prohibition or limitation on making any payment or prepayment under the
Financing Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.20. Term Loan Documents.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in the Intercreditor Agreement, change or permit any Subsidiary
to change or amend (or take any action or fail to take any action the result of which is an
effective amendment or change) or accept any waiver or consent with respect to, any Term Loan
Document that would result in (a)&nbsp;an increase in the principal, interest, overdue interest, fees or
other amounts payable under any Term Loan Document, (b)&nbsp;an acceleration of any date fixed for
payment or prepayment of principal, interest, overdue interest, fees or other
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">amounts payable under any Term Loan Document, (c)&nbsp;the terms and provisions of the Term Loan
Documents, including without limitation the negative covenants and the events of default, being
more restrictive to the Company and its Subsidiaries than the terms and provisions of this
Agreement, or (d)&nbsp;the Company or any Subsidiary being subject to any prohibition or limitation on
making any payment or prepayment under the Financing Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>8.21. Amended and Restated 2004 NPA.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in the Intercreditor Agreement, change or permit any Subsidiary
to change or amend (or take any action or fail to take any action the result of which is an
effective amendment or change) or accept any waiver or consent with respect to, the Amended and
Restated 2004 NPA that would result in (a)&nbsp;an increase in the principal, interest, overdue
interest, fees or other amounts payable under the Amended and Restated 2004 NPA, (b)&nbsp;an
acceleration of any date fixed for payment or prepayment of principal, interest, overdue interest,
fees or other amounts payable under the Amended and Restated 2004 NPA, (c)&nbsp;the terms and provisions
of the Amended and Restated 2004 NPA, including without limitation the negative covenants and the
events of default, being more restrictive to the Company and its Subsidiaries than the terms and
provisions of this Agreement, or (d)&nbsp;the Company or any Subsidiary being subject to any prohibition
or limitation on making any payment or prepayment under the Financing Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>9. EVENTS OF DEFAULT.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An <B>&#147;Event of Default&#148; </B>shall exist if any of the following conditions or events shall occur and
be continuing:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company defaults in the payment of any principal or premium, if any, on any
Note when the same becomes due and payable, whether at maturity or at a date fixed for
prepayment or by declaration or otherwise; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company defaults in the payment of any interest on any Note for more than
five Business Days after the same becomes due and payable; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company defaults in the performance of or compliance with any term
contained in Sections&nbsp;5.1(d), 5.1(e), 7.5, 7.8, 8.1, 8.2, 8.3, 8.5, 8.6, 8.7, 8.8, 8.9,
8.13, 8.17, 8.18, 8.19, 8.20 or 8.21; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Company defaults in the performance of or compliance with&nbsp;any term
contained herein (other than those specifically referred to in the other paragraphs&nbsp;of
this Section&nbsp;9) and such default is not remedied within 30&nbsp;days after a Responsible
Officer obtains knowledge of such default; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any representation or warranty made in writing by or on behalf of the Company
or by any officer of the Company in this Agreement or in any writing furnished in
connection with the transactions contemplated hereby proves to have been false or
incorrect in any material respect on the date as of which made; or
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) (i)&nbsp;the Company or any Subsidiary is in default (as principal or as guarantor
or other surety) in the payment of any principal of or premium or make-whole amount or
interest on any Indebtedness (other than the Notes) that is outstanding in an aggregate
principal amount of at least $7,500,000 beyond any period of grace provided with respect
thereto, or (ii)&nbsp;the Company or any Subsidiary is in default in the performance of or
compliance with any term of any evidence of any Indebtedness or of any mortgage,
indenture or other agreement relating thereto or any other condition exists, and as a
consequence of such default or condition such Indebtedness has become, or has been or
may be declared (with the giving of notice or otherwise) by the holder or holders
thereof to be, due and payable before its stated maturity or before its regularly
scheduled dates of payment, or (iii)&nbsp;as a consequence of the occurrence or continuation
of any event or condition (other than the passage of time or the right of the holder of
Indebtedness to convert such Indebtedness into equity interests or a sale of assets or
other transaction that is permitted if made in connection with a repayment of
Indebtedness), the Company or any Subsidiary has become, or (by the giving of notice or
otherwise) the holder or holders thereof may cause the Company or any Subsidiary to
become, obligated to purchase or repay any Indebtedness before its regular maturity or
before its regularly scheduled dates of payment; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the Company or any Significant Subsidiary (i)&nbsp;is generally not paying, or
admits in writing its inability to pay, its debts as they become due, (ii)&nbsp;files, or
consents by answer or otherwise to the filing against it of, a petition for relief or
reorganization or arrangement or any other petition in bankruptcy, for liquidation or to
take advantage of any bankruptcy, insolvency, reorganization, moratorium or other
similar law of any jurisdiction, (iii)&nbsp;makes an assignment for the benefit of its
creditors, (iv)&nbsp;consents to the appointment of a custodian, receiver, trustee or other
officer with similar powers with respect to it or with respect to any substantial part
of its property, (v)&nbsp;is adjudicated as insolvent or to be liquidated, or (vi)&nbsp;takes
corporate action for the purpose of any of the foregoing; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) a court or governmental authority of competent jurisdiction enters an order
appointing, without consent by the Company or any Significant Subsidiary, a custodian,
receiver, trustee or other officer with similar powers with respect to it or with
respect to any substantial part of its property, or constituting an order for relief or
approving a petition for relief or reorganization or any other petition in bankruptcy or
for liquidation or to take advantage of any bankruptcy or insolvency law of any
jurisdiction, or ordering the dissolution, winding-up or liquidation of the Company or
any such Subsidiary, or any such petition shall be filed against the Company or any such
Subsidiary and such petition shall not be dismissed within 60&nbsp;days; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a final judgment or judgments for the payment of money aggregating in excess of
$500,000 are rendered against one or more of the Company and its Subsidiaries which
judgments are not, within 60&nbsp;days after entry thereof, bonded, paid, discharged or
stayed pending appeal, or are not discharged within 60&nbsp;days after the expiration of such
stay; or
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any Subsidiary Guarantee shall cease to be in full force and effect as an
enforceable instrument or any Subsidiary (or any Person at its authorized direction or
on its behalf) shall assert in writing that the Subsidiary Guarantee of such Subsidiary
is unenforceable in any material respect; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) if (i)&nbsp;any Plan shall fail to satisfy the minimum funding standards of ERISA or
the Code for any plan year or part thereof or a waiver of such standards or extension of
any amortization period is sought or granted under section&nbsp;412 of the Code, (ii)&nbsp;a
notice of intent to terminate&nbsp;any Plan shall have been or is reasonably expected to be
filed with the PBGC or the PBGC shall have instituted proceedings under ERISA section
4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have
notified the Company or any ERISA Affiliate that a Plan may become a subject of any such
proceedings, (iii)&nbsp;the aggregate &#147;amount of unfunded benefit liabilities&#148; (within the
meaning of section 4001(a)(18) of ERISA) under all Plans, determined in accordance with
Title IV of ERISA, shall exceed $1,000,000, (iv)&nbsp;the Company or any ERISA Affiliate
shall have incurred or is reasonably expected to incur any liability pursuant to Title I
or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee
benefit plans, (v)&nbsp;the Company or any ERISA Affiliate withdraws from any Multiemployer
Plan, or (vi)&nbsp;the Company or any Subsidiary establishes or amends any employee welfare
benefit plan that provides post-employment welfare benefits in a manner that would
increase the liability of the Company or any Subsidiary thereunder; and any such event
or events described in clauses (i)&nbsp;through (vi)&nbsp;above, either individually or together
with any other such event or events, could reasonably be expected to have a Material
Adverse Effect (as used in this clause (k), the terms &#147;employee benefit plan&#148; and
&#147;employee welfare benefit plan&#148; shall have the respective meanings assigned to such
terms in Section&nbsp;3 of ERISA); or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) any Security Document after delivery thereof pursuant to the Intercreditor
Agreement shall for any reason (other than pursuant to the terms thereof or on account
of the Collateral Agent&#146;s election to not take possession of or make certain filings or
registrations in respect of certain Collateral) cease or fail to create a valid and
perfected first priority Lien (subject only to Permitted Liens) on the property
purported to be covered thereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>10. REMEDIES ON DEFAULT, ETC.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>10.1. Acceleration.</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;If an Event of Default with respect to the Company described in paragraph&nbsp;(g) or (h)&nbsp;of
Section&nbsp;9 has occurred, all the Notes then outstanding shall automatically become immediately due
and payable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;If any other Event of Default has occurred and is continuing, the Required Holders may at
any time at its or their option, by notice or notices to the Company, declare all the Notes at the
time outstanding to be immediately due and payable.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;If any Event of Default described in paragraph&nbsp;(a) or (b)&nbsp;of Section&nbsp;9 has occurred and is
continuing, any holder or holders of Notes at the time outstanding affected by such Event of
Default may at any time, at its or their option, by notice or notices to the Company, declare all
the Notes held by it or them to be immediately due and payable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon any Note becoming due and payable under this Section&nbsp;10.1, whether automatically or by
declaration, such Note will forthwith mature and the entire unpaid principal amount of such Note,
plus (x)&nbsp;all accrued and unpaid interest thereon and (y)&nbsp;in the event that such Note shall become
due and payable prior to June&nbsp;5, 2009, the Make-Whole Amount determined in respect of such
principal amount (to the full extent permitted by applicable law), shall all be immediately due and
payable, in each and every case without presentment, demand, protest or further notice, all of
which are hereby waived. The Company acknowledges, and the parties hereto agree, that each holder
of a Note has the right to maintain its investment in the Notes free from repayment by the Company
(except as herein specifically provided) and that the provision for payment of a Make-Whole Amount
by the Company in the event that the Notes are accelerated as a result of an Event of Default, is
intended to provide compensation for the deprivation of such right under such circumstances.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>10.2. Other Remedies.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Default or Event of Default has occurred and is continuing, and irrespective of whether
any Notes have become or have been declared immediately due and payable under Section&nbsp;10.1, the
holder of any Note at the time outstanding may proceed to protect and enforce the rights of such
holder by an action at law, suit in equity or other appropriate proceeding, whether for the
specific performance of any agreement contained herein or in any Note, or for an injunction against
a violation of any of the terms hereof or thereof, or in aid of the exercise of any power granted
hereby or thereby or by law or otherwise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>10.3. Rescission.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At any time after any Notes have been declared due and payable pursuant to paragraph (b)&nbsp;or
(c)&nbsp;of Section&nbsp;10.1, the Required Holders, by written notice to the Company, may rescind and annul
any such declaration and its consequences if (a)&nbsp;the Company has paid all overdue interest on the
Notes, all principal of and premium, if any, on any Notes that are due and payable and are unpaid
other than by reason of such declaration, and all interest on such overdue principal and premium,
if any, and (to the extent permitted by applicable law) any overdue interest in respect of the
Notes, at the Default Rate, (b)&nbsp;all Events of Default and Defaults, other than the non-payment of
amounts that have become due solely by reason of such declaration, have been cured or have been
waived pursuant to Section&nbsp;15, and (c)&nbsp;no judgment or decree has been entered for the payment of
any monies due pursuant hereto or to the Notes. No rescission and annulment under this Section
10.3 will extend to or affect any subsequent Event of Default or Default or impair any right
consequent thereon.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>10.4. No Waivers or Election of Remedies, Expenses, etc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No course of dealing and no delay on the part of any holder of any Note in exercising any
right, power or remedy shall operate as a waiver thereof or otherwise prejudice
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">such holder&#146;s rights, powers or remedies. No right, power or remedy conferred by this
Agreement or by any Note upon any holder thereof shall be exclusive of any other right, power or
remedy referred to herein or therein or now or hereafter available at law, in equity, by statute or
otherwise. Without limiting the obligations of the Company under Section&nbsp;13, the Company will pay
to the holder of each Note on demand such further amount as shall be sufficient to cover all costs
and expenses of such holder incurred in any enforcement or collection under this Section&nbsp;10,
including without limitation reasonable attorneys&#146; fees, expenses and disbursements.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>11. REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>11.1. Registration of Notes.</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall keep at its principal executive office a register for the registration and
registration of transfers of Notes. The name and address of each holder of one or more Notes, each
transfer thereof and the name and address of each transferee of one or more Notes shall be
registered in such register. Prior to due presentment for registration of transfer, the Person in
whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof
for all purposes hereof, and the Company shall not be affected by any notice or knowledge to the
contrary. The Company shall give to any holder of a Note that is an Institutional Investor
promptly upon request therefor, a complete and correct copy of the names and addresses of all
registered holders of Notes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>11.2. Transfer and Exchange of Notes.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon surrender of any Note at the principal executive office of the Company for registration
of transfer or exchange (and in the case of a surrender for registration of transfer, duly endorsed
or accompanied by a written instrument of transfer duly executed by the registered holder of such
Note or his attorney duly authorized in writing and accompanied by the address for notices of each
transferee of such Note or part thereof), within five Business Days thereafter the Company shall
execute and deliver, at the Company&#146;s expense (except as provided below), one or more new Notes (as
requested by the holder thereof) in exchange therefor, in an aggregate principal amount equal to
the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such
Person as such holder may request and shall be substantially in the form of Note as set forth in
Exhibit&nbsp;1.3. Each such new Note shall be dated and bear interest from the date to which interest
shall have been paid on the surrendered Note or dated the date of the surrendered Note if no
interest shall have been paid thereon. The Company may require payment of a sum sufficient to
cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes
shall not be transferred in denominations of less than $100,000, provided that if necessary to
enable the registration of transfer by a holder of its entire holding of Notes, one Note may be in
a denomination of less than $100,000.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Noteholder agrees that the Company shall not be required to register the transfer of any
Note to any Person (other than any transferring Noteholder&#146;s nominee) or to any separate account
maintained by any transferring Noteholder unless the Company receives from the transferee a
representation to the Company (and appropriate information as to any separate accounts or other
matters) to the same or similar effect with respect to the transferee as is contained in section
6.2 of the Existing Note Agreement or other assurances reasonably
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">satisfactory to the Company that such transfer does not involve a prohibited transaction (as
such term is used in Section&nbsp;4.12(e). No Noteholder shall be liable for any damages in connection
with any such representations or assurances provided to the Company by any transferee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>11.3. Replacement of Notes.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon receipt by the Company of evidence reasonably satisfactory to it of the ownership of and
the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an
Institutional Investor, notice from such Institutional Investor of such ownership and such loss,
theft, destruction or mutilation), and
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of loss, theft or destruction, of indemnity reasonably satisfactory
to it (provided that if the holder of such Note is, or is a nominee for, an original
Noteholder or any other Institutional Investor, such Person&#146;s own unsecured agreement of
indemnity shall be deemed to be satisfactory), or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of mutilation, upon surrender and cancellation thereof,
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">within five Business Days thereafter the Company at its own expense shall execute and deliver, in
lieu thereof, a new Note, dated and bearing interest from the date to which interest shall have
been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen,
destroyed or mutilated Note if no interest shall have been paid thereon.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>12. PAYMENTS ON NOTES.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>12.1. Place of Payment.</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section&nbsp;12.2, payments of principal, premium, if any, and interest becoming due and
payable on the Notes shall be made at the principal office of Citibank, N.A. in New York City. The
Company may at any time, by notice to each holder of a Note, change the place of payment of the
Notes so long as such place of payment shall be either the principal office of the Company in New
York City or the principal office of a bank or trust company in New York City.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>12.2. Home Office Payment.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;So long as a Noteholder or its nominee shall be the holder of any Note, and notwithstanding
anything contained in Section&nbsp;12.1 or in such Note to the contrary, the Company will pay all sums
becoming due on such Note for principal, Make-Whole Amount, if any, and interest by the method and
at the address specified for such purpose below such Noteholder&#146;s name in Schedule&nbsp;A, or by such
other method or at such other address as such Noteholder shall have from time to time specified to
the Company in writing for such purpose, without the presentation or surrender of such Note or the
making of any notation thereon, except that upon written request of the Company made concurrently
with or reasonably promptly after payment or prepayment in full of any Note, such Noteholder shall
surrender such Note for cancellation, reasonably promptly after any such request, to the Company at
its principal executive office or at the place of payment most recently designated by the Company
pursuant to Section&nbsp;12.1. Prior
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">to any sale or other disposition of any Note held by such Noteholder or its nominee such
Noteholder will, at its election, either endorse thereon the amount of principal paid thereon and
the last date to which interest has been paid thereon or surrender such Note to the Company in
exchange for a new Note or Notes pursuant to Section&nbsp;11.2. The Company will afford the benefits of
this Section&nbsp;12.2 to any Institutional Investor that is the direct or indirect transferee of any
Note that has made the same agreement relating to such Note as such Noteholder has made in this
Section&nbsp;12.2.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>13. EXPENSES, ETC.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>13.1. Transaction Expenses.</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whether or not the transactions contemplated hereby are consummated, the Company will pay all
costs and expenses (including reasonable attorneys&#146; fees of the Noteholders&#146; special counsel and,
if reasonably required, local or other counsel) incurred by the Noteholders or holder of a Note in
connection with such transactions and in connection with any amendments, waivers or consents under
or in respect of this Agreement, the Notes, the other Financing Documents or the Security Documents
(whether or not such amendment, waiver or consent becomes effective), including without limitation:
(a)&nbsp;the costs and expenses incurred in enforcing or defending (or determining whether or how to
enforce or defend) any rights under this Agreement, the Notes, the other Financing Documents or the
Security Documents or in responding to any subpoena or other legal process or informal
investigative demand issued in connection with any thereof, or by reason of being a holder of any
Note, (b)&nbsp;the costs and expenses, including financial advisors&#146; fees, incurred in connection with
the insolvency or bankruptcy of the Company or any Subsidiary or in connection with any work-out or
restructuring of the transactions contemplated hereby or by the Notes, the other Financing
Documents or the Security Documents and (c)&nbsp;the costs and expenses incurred in connection with the
initial filing of this Agreement and all related documents and financial information with the
Securities Valuation Office of the National Association of Insurance Commissioners. The Company
will pay, and will save each Noteholder and each other holder of a Note harmless from, all claims
in respect of any fees, costs or expenses if any, of brokers and finders (other than those retained
by such Noteholder).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In furtherance of the foregoing, on the Effective Date the Company will pay or cause to be
paid the reasonable fees and disbursements and other charges (including estimated unposted
disbursements and other charges as of the Effective Date) of the Noteholders&#146; special counsel which
are reflected in the statement of such special counsel submitted to the Company on or prior to the
Effective Date. The Company will also pay, promptly upon receipt of supplemental statements
therefor, reasonable additional fees, if any, and disbursements and charges of such special counsel
in connection with the transactions hereby contemplated (including disbursements and other charges
unposted as of the Effective Date to the extent such disbursements exceed estimated amounts paid as
aforesaid).
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>13.2. Survival.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The obligations of the Company under this Section&nbsp;13 will survive the payment or transfer of
any Note, the enforcement, amendment or waiver of any provision of this Agreement or the Notes, and
the termination of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>14. SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All representations and warranties contained herein shall survive the execution and delivery
of this Agreement and the Notes, the purchase or transfer by a Noteholder of any Note or portion
thereof or interest therein and the payment of any Note, and may be relied upon by any subsequent
holder of a Note, regardless of any investigation made at any time by or on behalf of a Noteholder
or any other holder of a Note. All statements contained in any certificate or other instrument
delivered by or on behalf of the Company pursuant to this Agreement shall be deemed representations
and warranties of the Company under this Agreement. Subject to the preceding sentence, this
Agreement, the Notes, the other Financing Documents and the Security Documents embody the entire
agreement and understanding between each Noteholder and the Company and supersede all prior
agreements and understandings relating to the subject matter hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>15. AMENDMENT AND WAIVER</B>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>15.1. Requirements.</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement and the Notes may be amended, and the observance of any term hereof or of the
Notes may be waived (either retroactively or prospectively), with (and only with) the written
consent of the Company and the Required Holders, except that (a)&nbsp;no amendment or waiver of any of
the provisions of Section&nbsp;1, 2, or 3 hereof, or any defined term (as it is used therein), will be
effective as to such holder of Notes unless consented to by such holder in writing, and (b)&nbsp;no such
amendment or waiver may, without the written consent of the holder of each Note at the time
outstanding affected thereby, (i)&nbsp;subject to the provisions of Section&nbsp;10 relating to acceleration
or rescission, change the amount or time of any prepayment or payment of principal of, or change
the rate or the time of payment or method of computation of interest or of the Make-Whole Amount
on, the Notes, (ii)&nbsp;change the percentage of the principal amount of the Notes the holders of which
are required to consent to any such amendment or waiver, or (iii)&nbsp;amend any of Sections&nbsp;6, 9(a),
9(b), 10, 15 or 18.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>15.2. Solicitation of Holders of Notes.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Solicitation</U>. The Company will provide each holder of the Notes (irrespective of
the amount of Notes then owned by it) with sufficient information, sufficiently far in advance of
the date a decision is required, to enable such holder to make an informed and considered decision
with respect to any proposed amendment, waiver or consent in respect of any of the provisions
hereof or of the Notes. The Company will deliver executed or true and correct copies of each
amendment, waiver or consent effected pursuant to the provisions of this
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Section&nbsp;15 to each holder of outstanding Notes promptly following the date on which it is
executed and delivered by, or receives the consent or approval of, the requisite holders of Notes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Payment</U>. The Company will not directly or indirectly pay or cause to be paid any
remuneration, whether by way of supplemental or additional interest, fee or otherwise, or grant any
security, to any holder of Notes as consideration for or as an inducement to the entering into by
any holder of Notes of any waiver or amendment of any of the terms and provisions hereof unless
such remuneration is concurrently paid, or security is concurrently granted, on the same terms,
ratably to each holder of Notes then outstanding even if such holder did not consent to such waiver
or amendment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>15.3. Binding Effect, etc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any amendment or waiver consented to as provided in this Section&nbsp;15 applies equally to all
holders of Notes and is binding upon them and upon each future holder of any Note and upon the
Company without regard to whether such Note has been marked to indicate such amendment or waiver.
No such amendment or waiver will extend to or affect any obligation, covenant, agreement, Default
or Event of Default not expressly amended or waived or impair any right consequent thereon. No
course of dealing between the Company and the holder of any Note nor any delay in exercising any
rights hereunder or under any Note shall operate as a waiver of any rights of any holder of such
Note. As used herein, the term <B>&#147;this Agreement&#148; </B>and references thereto shall mean this Agreement
as it may from time to time be amended or supplemented.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>15.4. Notes held by Company, etc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Solely for the purpose of determining whether the holders of the requisite percentage of the
aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver
or consent to be given under this Agreement or the Notes, or have directed the taking of any action
provided herein or in the Notes to be taken upon the direction of the holders of a specified
percentage of the aggregate principal amount of Notes then outstanding, Notes directly or
indirectly owned by the Company or any of its Affiliates shall be deemed not to be outstanding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>16. NOTICES.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All notices and communications provided for hereunder shall be in writing and sent (a)&nbsp;by
telecopy if the sender on the same day sends a confirming copy of such notice by a recognized
overnight delivery service (charges prepaid), or (b)&nbsp;by registered or certified mail with return
receipt requested (postage prepaid), or (c)&nbsp;by a recognized overnight delivery service (with
charges prepaid). Any such notice must be sent:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if to a Noteholder or its nominee, to such Noteholder or its nominee at the address
specified for such communications in Schedule&nbsp;A, or at such other address as such Noteholder
or its nominee shall have specified to the Company in writing,
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if to any other holder of any Note, to such holder at such address as such other
holder shall have specified to the Company in writing, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if to the Company, to the Company at its address set forth at the beginning
hereof to the attention of the Chief Financial Officer, or at such other address as the
Company shall have specified to the holder of each Note in writing.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notices under this Section&nbsp;16 will be deemed given only when actually received.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>17.&nbsp;REPRODUCTION OF DOCUMENTS</B>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement and all documents relating thereto, including, without limitation,
(a)&nbsp;consents, waivers and modifications that may hereafter be executed, (b)&nbsp;documents received by
each Noteholder on the Effective Date (except the Notes themselves), and (c)&nbsp;financial statements,
certificates and other information previously or hereafter furnished to the Noteholder, may be
reproduced by a Noteholder by any photographic, photostatic, microfilm, microcard, miniature
photographic or other similar process and such Noteholder may destroy any original document so
reproduced. The Company agrees and stipulates that, to the extent permitted by applicable law, any
such reproduction shall be admissible in evidence as the original itself in any judicial or
administrative proceeding (whether or not the original is in existence and whether or not such
reproduction was made by such Noteholder in the regular course of business) and any enlargement,
facsimile or further reproduction of such reproduction shall likewise be admissible in evidence.
This Section&nbsp;17 shall not prohibit the Company or any other holder of Notes from contesting any
such reproduction to the same extent that it could contest the original, or from introducing
evidence to demonstrate the inaccuracy of any such reproduction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>18. CONFIDENTIAL INFORMATION.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the purposes of this Section&nbsp;18, <B>&#147;Confidential Information&#148; </B>means information delivered to
a Noteholder by or on behalf of the Company or any Subsidiary in connection with the transactions
contemplated by or otherwise pursuant to this Agreement that is proprietary in nature and that was
clearly marked or labeled or otherwise adequately identified when received by such Noteholder as
being confidential information of the Company or such Subsidiary, provided that such term does not
include information that (a)&nbsp;was publicly known or otherwise known to such Noteholder prior to the
time of such disclosure, (b)&nbsp;subsequently becomes publicly known through no act or omission by such
Noteholder or any person acting on its behalf, (c)&nbsp;otherwise becomes known to such Noteholder other
than through disclosure by the Company or any Subsidiary or (d)&nbsp;constitutes financial statements
delivered to such Noteholder under Section&nbsp;5.1 that are otherwise publicly available. Each
Noteholder will maintain the confidentiality of such Confidential Information in accordance with
procedures adopted by such Noteholder in good faith to protect confidential information of third
parties delivered to such Noteholder, provided that such Noteholder may deliver or disclose
Confidential Information to (i)&nbsp;its directors, officers, trustees, employees, agents, attorneys and
affiliates (to the extent such disclosure reasonably relates to the administration of the
investment represented by such Noteholder&#146;s Notes), (ii)&nbsp;its financial advisors and other
professional advisors whose duties require them to hold confidential the Confidential Information
substantially in accordance with the terms of this Section&nbsp;18, (iii)&nbsp;any other holder of any Note,
(iv)&nbsp;any Institutional Investor to
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">which such Noteholder sells or offers to sell such Note or any part thereof or any
participation therein (if such Person has agreed in writing prior to its receipt of such
Confidential Information to be bound by the provisions of this Section&nbsp;18), (v)&nbsp;any Person from
which such Noteholder offers to purchase any security of the Company (if such Person has agreed in
writing prior to its receipt of such Confidential Information to be bound by the provisions of this
Section&nbsp;18), (vi)&nbsp;any federal or state regulatory authority having jurisdiction over such
Noteholder, (vii)&nbsp;the National Association of Insurance Commissioners or any similar organization,
or any nationally recognized rating agency that requires access to information about such
Noteholder&#146;s investment portfolio or (viii)&nbsp;any other Person to which such delivery or disclosure
may be necessary or appropriate (w)&nbsp;to effect compliance with any law, rule, regulation or order
applicable to such Noteholder, (x)&nbsp;in response to any subpoena or other legal process, (y)&nbsp;in
connection with any litigation to which such Noteholder is a party or (z)&nbsp;if an Event of Default
has occurred and is continuing, to the extent such Noteholder may reasonably determine such
delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of
the rights and remedies under such Noteholder&#146;s Notes, this Agreement, the other Financing
Documents and the Security Documents. Each holder of a Note, by its acceptance of a Note, will be
deemed to have agreed to be bound by and to be entitled to the benefits of this Section&nbsp;18 as
though it were a party to this Agreement. On reasonable request by the Company in connection with
the delivery to any holder of a Note of information required to be delivered to such holder under
this Agreement or requested by such holder (other than a holder that is a party to this Agreement
or its nominee), such holder will enter into an agreement with the Company embodying the provisions
of this Section&nbsp;18.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>19. MISCELLANEOUS.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>19.1. Successors and Assigns.</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All covenants and other agreements contained in this Agreement by or on behalf of any of the
parties hereto bind and inure to the benefit of their respective successors and assigns (including
without limitation any subsequent holder of a Note) whether so expressed or not.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>19.2. Construction.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each covenant contained herein shall be construed (absent express provision to the contrary)
as being independent of each other covenant contained herein, so that compliance with any one
covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with
any other covenant. Where any provision herein refers to action to be taken by any Person, or
which such Person is prohibited from taking, such provision shall be applicable whether such action
is taken directly or indirectly by such Person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>19.3. Jurisdiction and Process; Waiver of Jury Trial.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Company irrevocably submits to the non-exclusive <U>in</U> <U>personam</U>
jurisdiction of any New York State or federal court sitting in the Borough of Manhattan, The City
of New York, over any suit, action or proceeding arising out of or relating to this Agreement, the
Notes, the other Financing Documents and the Security Documents. To the
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">fullest extent permitted by applicable law, the Company irrevocably waives and agrees not to
assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the
<U>in</U> <U>personam</U> jurisdiction of any such court, any objection that it may now or
hereafter have to the laying of the venue of any such suit, action or proceeding brought in any
such court and any claim that any such suit, action or proceeding brought in any such court has
been brought in an inconvenient forum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Company consents to process being served in any suit, action or proceeding of the
nature referred to in Section&nbsp;19.3(a) by mailing a copy thereof by registered or certified mail,
postage prepaid, return receipt requested, to the Company at its address specified in Section&nbsp;16 or
at such other address of which each Noteholder shall then have been notified pursuant to said
Section. The Company agrees that such service upon receipt (i)&nbsp;shall be deemed in every respect
effective service of process upon it in any such suit, action or proceeding and (ii)&nbsp;shall, to the
fullest extent permitted by applicable law, be taken and held to be valid personal service upon and
personal delivery to the Company. Notices hereunder shall be conclusively presumed received as
evidenced by a delivery receipt furnished by the United States Postal Service or any reputable
commercial delivery service.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Nothing in this Section&nbsp;19 shall affect the right of any holder of a Note to serve process
in any manner permitted by law, or limit any right that the holders of any of the Notes may have to
bring proceedings against the Company in the courts of any appropriate jurisdiction or to enforce
in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <B>THE COMPANY WAIVES TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS
AGREEMENT, THE OTHER AGREEMENTS, THE NOTES, THE OTHER FINANCING DOCUMENTS, THE SECURITY DOCUMENTS
OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>19.4. Payments Due on Non-Business Days.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anything in this Agreement or the Notes to the contrary notwithstanding (but without limiting
the requirement in Section&nbsp;6.2 that notice of any optional prepayment specify a Business Day as
the date fixed for such prepayment), any payment of principal of or interest on any Note that is
due on a date other than a Business Day shall be made on the next succeeding Business Day without
including the additional days elapsed in the computation of the interest payable on such next
succeeding Business Day.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>19.5. Severability.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall (to the fullest extent permitted by applicable law) not invalidate or
render unenforceable such provision in any other jurisdiction.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>19.6. Accounting Terms; Pro Forma Calculations.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All accounting terms used herein which are not expressly defined in this Agreement have the
meanings respectively given to them in accordance with GAAP. Except as otherwise specifically
provided herein, all computations made pursuant to this Agreement shall be made in accordance with
GAAP and all balance sheets and other financial statements with respect thereto shall be prepared
in accordance with GAAP. Except as otherwise specifically provided herein, any consolidated
financial statement or financial computation shall be done in accordance with GAAP; and, if at the
time that any such statement or computation is required to be made the Company shall not have any
Subsidiary, such terms shall mean a financial statement or a financial computation, as the case may
be, with respect to the Company only.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any pro forma computation required to be made hereby shall include adjustments (without
limitation as to other appropriate pro forma adjustments in accordance with generally accepted
financial practice) giving effect to all acquisitions and dispositions made during the period with
respect to which such computation is being made as if such acquisitions and dispositions were made
on the first day of such period.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>19.7. Counterparts.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be executed in any number of counterparts, each of which shall be an
original but all of which together shall constitute one instrument. Each counterpart may consist
of a number of copies hereof, each signed by less than all, but together signed by all, of the
parties hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>19.8. Governing Law.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement and the Notes shall be construed and enforced in accordance with, and the
rights of the parties shall be governed by, the laws of the State of New York excluding
choice-of-law principles of the law of such State that would require the application of the laws of
a jurisdiction other than such State.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>19.9. Subsidiary Guarantors&#146; Acknowledgment.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By signing below, each of the Subsidiary Guarantors (i)&nbsp;acknowledges, consents and agrees to
the execution, delivery and performance by the Company of this Agreement and the Notes, (ii)
acknowledges and agrees that its obligations in respect of the Subsidiary Guarantee are not
released, diminished, waived, modified, impaired or affected in any manner by this Agreement or any
of the provisions contemplated herein, (iii)&nbsp;ratifies and confirms its obligations under the
Subsidiary Guarantee, and (iv)&nbsp;acknowledges and agrees that it has no claims or offsets against, or
defenses or counterclaims to, the Subsidiary Guarantee.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you are in agreement with the foregoing, please sign the form of agreement in the space
below provided on a counterpart of this Agreement and return it to the Company, whereupon the
foregoing shall become a binding agreement between you and the Company.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" valign="top">Very truly yours,
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>SPARTECH CORPORATION</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->43<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>ACKNOWLEDGED AND AGREED TO:</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>ATLAS ALCHEM PLASTICS, INC.<BR>
ALCHEM PLASTICS CORPORATION<BR>
ALCHEM PLASTICS, INC.<BR>
SPARTECH PLASTICS, LLC</B>

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>By: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spartech Corporation, its sole<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;member</B></DIV>



<DIV align="left" style="font-size: 10pt"><B>POLYMER EXTRUDED PRODUCTS, INC.<br>
SPARTECH POLYCAST, INC.<br>
SPARTECH TOWNSEND, INC.<br>
SPARTECH INDUSTRIES FLORIDA, INC.<br>
SPARTECH POLYCOM, INC.<br>
FRANKLIN-BURLINGTON PLASTICS, INC.<br>
SPARTECH INDUSTRIES, INC.<br>
ANJAC-DORON PLASTICS, INC.<br>
SPARTECH CMD, LLC</B></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>By: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spartech Corporation, its sole </B>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<B>member</B></DIV>


<DIV align="left" style="font-size: 10pt"><B>SPARTECH FCD, LLC</B></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>By:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Polymer Extruded Products,
Inc.,</B></DIV>
<DIV align="left" style="font-size: 10pt; MARGIN-LEFT: 7%">&nbsp;<B>its sole member</B></DIV>



<DIV align="left" style="font-size: 10pt"><B>SPARTECH SPD, LLC</B></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Spartech Corporation, its sole</B></DIV>
<DIV align="left" style="font-size: 10pt; MARGIN-LEFT: 7%">&nbsp;<B>member</B></DIV>



<DIV align="left" style="font-size: 10pt"><B>SPARTECH MEXICO HOLDING COMPANY<br>
SPARTECH MEXICO HOLDING COMPANY TWO<br>
SPARTECH MEXICO HOLDINGS, LLC</B></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>By:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spartech Mexico Holding
Company,</B></DIV>
<DIV align="left" style="font-size: 10pt; MARGIN-LEFT: 7%">&nbsp;<B>its sole member</B></DIV>



<DIV align="left" style="font-size: 10pt"><B>CREATIVE FORMING, INC.<br>
SPARTECH POLYCOM (TEXAS), INC.<br>
ALSHIN TIRE CORPORATION<br>
X-CORE, LLC</B></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Spartech Industries, Inc.,</b></div>
<DIV align="left" style="font-size: 10pt; MARGIN-LEFT: 7%"><b>its sole member</B></DIV>



<DIV align="left" style="font-size: 10pt"><B>PEPAC HOLDINGS, INC.</B></DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Randy C. Martin
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President for all of the above</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The foregoing is hereby agreed to as of the date thereof:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>&#091;NOTEHOLDER SIGNATURE PAGES&#093;</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->45<!-- /Folio -->
</DIV>

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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Schedule&nbsp;A
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->46<!-- /Folio -->
</DIV>

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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">SCHEDULE B
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>DEFINED TERMS</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As used herein, the following terms have the respective meanings set forth below or set forth
in the Section hereof following such term:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;2004 Noteholders&#148; </B>means the noteholders listed in Schedule&nbsp;A attached to the Amended and
Restated 2004 NPA.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;2004 Notes&#148; </B>means the notes issued pursuant to the Amended and Restated 2004 NPA.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;2006 Noteholders&#148; </B>means the Noteholders listed in Schedule&nbsp;A attached hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Acquisition&#148; </B>means any transaction or series of related transactions for the purpose of or
resulting, directly or indirectly, in (a)&nbsp;the acquisition of all or substantially all of the assets
of a Person, or of any business or division of a Person, (b)&nbsp;the acquisition of assets of a Person
that is accompanied by a long term supply agreement, (c)&nbsp;the acquisition of in excess of 50% of the
Equity Interests of any Person, or otherwise causing any Person to become a Subsidiary, or (d)&nbsp;a
merger or consolidation or any other combination with another Person (other than a Person that is a
Subsidiary) provided that the Company or the Subsidiary is the surviving entity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Affiliate&#148; </B>means, at any time, (a)&nbsp;with respect to any Person (including without limitation
the Company), any other Person that at such time directly or indirectly through one or more
intermediaries Controls, or is Controlled by, or is under common Control with, such first Person,
and (b)&nbsp;with respect to the Company, any Person beneficially owning or holding, directly or
indirectly, 10% or more of any class of voting or equity interests of the Company or any Subsidiary
or any Person of which the Company and its Subsidiaries beneficially own or hold, in the aggregate,
directly or indirectly, 10% or more of any class of voting or equity interests. As used in this
definition, <B>&#147;Control&#148; </B>means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of a Person, whether through the ownership of voting
securities, by contract or otherwise. Unless the context otherwise clearly requires, any reference
to an &#147;Affiliate&#148; is a reference to an Affiliate of the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Amended and Restated 2004 NPA&#148; </B>has the meaning specified in Section&nbsp;3.5(a) hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Anti-Terrorism Order</B>&#148; means Executive Order No.&nbsp;13,244 of September&nbsp;24, 2001, Blocking
Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit or Support
Terrorism, 66 U.S. Fed. Reg. 49, 079 (2001), as amended.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Asset Sale&#148; </B>has the meaning specified in Section&nbsp;8.2 hereof.
</DIV>


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</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Attributable Debt&#148; </B>means, as to any particular lease relating to a sale and leaseback
transaction, the total amount of rent (discounted semiannually from the respective due dates
thereof at the interest rate implicit in such lease) required to be paid by the lessee under such
lease during the remaining term thereof. The amount of rent required to be paid under any such
lease for any such period shall be (a)&nbsp;the total amount of the rent payable by the lessee with
respect to such period after excluding amounts required to be paid on account of maintenance and
repairs, insurance, taxes, assessments, utilities, operating and labor costs and similar charges
plus (b)&nbsp;without duplication, any guaranteed residual value in respect of such lease to the extent
such guarantee would be included in indebtedness in accordance with GAAP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Bank Administrative Agent&#148; </B>means Bank of America, N.A., in its capacity as administrative
agent under the Credit Agreement, or any successor thereto under the Credit Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Business Day&#148; </B>means (a)&nbsp;for the purposes of Section&nbsp;6.6 only, any day other than a Saturday,
a Sunday or a day on which commercial banks in New York City are required or authorized to be
closed, and (b)&nbsp;for the purposes of any other provision of this Agreement, any day other than a
Saturday, a Sunday or a day on which commercial banks in New York City or St. Louis, Missouri are
required or authorized to be closed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Capital Expenditures&#148; </B>means with respect to any Person for any period, the aggregate amount
of all expenditures by such Person and its Subsidiaries for the acquisition or leasing (pursuant to
a Capital Lease) of fixed or capital assets that are required to be capitalized under GAAP on a
balance sheet of such Person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Capital Lease&#148; </B>means, at any time, a lease with respect to which the lessee is required
concurrently to recognize the acquisition of an asset and the incurrence of a liability in
accordance with GAAP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Capitalized Lease Obligations&#148; </B>means with respect to any Person, all outstanding obligations
of such Person in respect of Capital Leases, taken at the capitalized amount thereof accounted for
as indebtedness in accordance with GAAP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Code&#148; </B>means the Internal Revenue Code of 1986, as amended from time to time, and the rules
and regulations promulgated thereunder from time to time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Collateral&#148; </B>means any collateral in which a Lien is granted by any Person to the Collateral
Agent to secure the Senior Secured Obligations pursuant to the Security Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Collateral Agent&#148; </B>means Bank of America in its capacity as collateral agent for the
Creditors, or any successor thereto under the Intercreditor Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Company&#148; </B>means Spartech Corporation, a Delaware corporation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Confidential Information&#148; </B>is defined in Section&nbsp;18.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Consolidated Indebtedness&#148; </B>means, at any date, all Indebtedness of the Company and its
Subsidiaries determined on a consolidated basis in accordance with GAAP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Consolidated Interest Expense&#148; </B>for any period means the sum for the Company and its
Subsidiaries, determined on a consolidated basis in accordance with GAAP, of all amounts which
would be deducted in computing Consolidated Net Income on account of interest on Indebtedness
(including imputed interest in respect of Capitalized Lease Obligations and amortization of debt
discount and expense).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Consolidated Net Income&#148; </B>for any period means the net income of the Company and its
Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP, excluding
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the proceeds of any life insurance policy,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any gains arising from (i)&nbsp;the sale or other disposition of any assets (other
than current assets) to the extent that the aggregate amount of the gains during such
period exceeds the aggregate amount of the losses during such period from the sale,
abandonment or other disposition of assets (other than current assets), (ii)&nbsp;any
write-up of assets or (iii)&nbsp;the acquisition of outstanding securities of the Company or
any Subsidiary,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any amount representing any interest in the undistributed earnings of any other
Person (other than a Subsidiary),
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any earnings, prior to the date of acquisition, of any Person acquired in any
manner, and any earnings of any Subsidiary prior to its becoming a Subsidiary,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any earnings of a successor to or transferee of the assets of the Company prior
to its becoming such successor or transferee,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any deferred credit (or amortization of a deferred credit) arising from the
acquisition of any Person, and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any extraordinary gains not covered by clause (b)&nbsp;above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Consolidated Net Worth&#148; </B>means, at any date, on a consolidated basis for the Company and its
Subsidiaries, (a)&nbsp;the sum of (i)&nbsp;capital stock taken at par or stated value plus (ii)&nbsp;capital in
excess of par or stated value relating to capital stock plus (iii)&nbsp;retained earnings (or minus any
retained earning deficit) minus (b)&nbsp;the sum of treasury stock, capital stock subscribed for and
unissued and other contra-equity accounts, all determined in accordance with GAAP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Consolidated Total Assets&#148; </B>means, at any date, for the Company and its Subsidiaries, the
total assets as of such date which would be shown as assets on a consolidated balance sheet of the
Company and its Subsidiaries prepared in accordance with GAAP.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Consolidated Total Operating Income&#148; </B>means, for any period, on a consolidated basis in
accordance with GAAP for the Company and its Subsidiaries, earnings before Consolidated Interest
Expense and income taxes for such period, plus all amounts deducted for other non-cash charges
(including but not limited to expensing of stock options, fixed asset write-offs and impairments of
goodwill) for such period.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Credit Agreement&#148; </B>has the meaning specified in Section&nbsp;3.5(b) hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Credit Facility Documents&#148; </B>means the Credit Agreement and any and all promissory notes and
other documents and agreements executed and delivered in connection therewith.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Creditor&#148; </B>has the meaning specified in the Intercreditor Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Default&#148; </B>means an event or condition the occurrence or existence of which would, with the
giving of notice or the lapse of time, or both, become an Event of Default.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Default Rate&#148; </B>means that rate of interest that is the greater of (i)&nbsp;8.82% per annum and
(ii)&nbsp;2% above the rate of interest publicly announced by Citibank, N.A. from time to time at its
principal office in New York City as its prime rate.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Dividends&#148; </B>means, with respect to any Person, dividends or other distributions of assets,
properties, cash, rights, obligations or securities on account of any shares of any class of its
capital stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Domestic Subsidiary</B>&#148; means any Subsidiary which is organized under the laws of the United
States or any state thereof or which at the time is conducting a majority of its business within
the United States.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;EBITDA&#148; </B>for any period means Consolidated Net Income for such period plus all amounts
deducted in the computation thereof on account of (a)&nbsp;Consolidated Interest Expense,
(b)&nbsp;depreciation and amortization expenses and other non-cash charges (included but not limited to
expensing of stock options, fixed asset write-offs and impairments of goodwill), (c)&nbsp;income and
profits taxes, and (d)&nbsp;cash restructuring expenses; provided, however, the aggregate amount of cash
restructuring expenses which may be added to determine EBITDA shall not exceed $5,000,000 for any
period of four consecutive fiscal quarters.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Effective Date&#148; </B>has the meaning specified in Section&nbsp;3 hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Environmental Laws&#148; </B>means any and all Federal, state, local, and foreign statutes, laws,
regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants,
franchises, licenses, agreements or governmental restrictions relating to pollution and the
protection of the environment or the release of any materials into the environment, including but
not limited to those related to hazardous substances or wastes, air emissions and discharges to
waste or public systems.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Equity Interest&#148; </B>means shares of capital stock (whether denominated as common stock or
preferred stock), beneficial, partnership or membership interests, participations or other
equivalents (regardless of how designated) of or in a corporation, partnership, limited liability
company or equivalent entity, whether voting or non-voting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;ERISA&#148; </B>means the Employee Retirement Income Security Act of 1974, as amended from time to
time, and the rules and regulations promulgated thereunder from time to time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;ERISA Affiliate&#148; </B>means any trade or business (whether or not incorporated) that is treated as
a single employer together with the Company under section 414 of the Code.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Event of Default&#148; </B>is defined in Section&nbsp;9.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Excess Cash Flow&#148; </B>means, for any period for the Company and its Subsidiaries on a
consolidated basis, an amount equal to the sum of, without duplication, in each case for such
period (a)&nbsp;the sum of (i)&nbsp;EBITDA (excluding for purposes of the determination of Excess Cash Flow
only, the addition of any cash restructuring expenses), (ii)&nbsp;interest income received in cash, and
(iii)&nbsp;net decrease (if any) in working capital minus (b)&nbsp;the sum of (i)&nbsp;Restricted Payments,
(ii)&nbsp;aggregate amount of federal, state, local and foreign income taxes paid in cash,
(iii)&nbsp;unfinanced cash portion of Capital Expenditures, (iv)&nbsp;amounts expended for Permitted
Acquisitions, (v)&nbsp;scheduled principal repayments of Indebtedness (other than Indebtedness of the
Company or any Subsidiary owing to the Company or another Subsidiary) and, without duplication,
payments of such Indebtedness which result in a permanent reduction of any commitment related
thereto, (vi)&nbsp;interest and fees in respect of any Indebtedness (other than Indebtedness of the
Company or any Subsidiary owing to the Company or another Subsidiary) actually paid in cash, and
(vii)&nbsp;net increases (if any) in working capital.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Exchange Act&#148; </B>means the Securities Exchange Act of 1934, as amended from time to time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Extraordinary Receipt&#148; </B>means any cash received by or paid to or for the account of any Person
in excess of $1,000,000 not in the ordinary course of business, including tax refunds, pension plan
reversions, proceeds of insurance (other than proceeds of business interruption insurance to the
extent such proceeds constitute compensation for lost earnings), condemnation awards (and payments
in lieu thereof), indemnity payments and any purchase price adjustments; provided, however, that an
Extraordinary Receipt shall not include cash receipts from proceeds of insurance, condemnation
awards (or payments in lieu thereof) or indemnity payments to the extent that such proceeds, awards
or payments are received by any Person in respect of any third party claim against such Person and
applied to pay (or to reimburse such Person for its prior payment of) such claim and the costs and
expenses of such Person with respect thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Financing Documents&#148; </B>means this Agreement, the Notes and the Subsidiary Guarantees.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Fixed Charge Coverage Ratio&#148; </B>means, as of any date of determination, for the Company and its
Subsidiaries on a consolidated basis, the ratio of (a)&nbsp;the sum of (i)&nbsp;EBITDA minus (ii)&nbsp;Capital
Expenditures, minus (iii)&nbsp;income tax expense to (b)&nbsp;the sum of (i)&nbsp;cash Consolidated Interest
Expense, plus (ii)&nbsp;Dividends and (iii)&nbsp;scheduled installment payments of principal of Consolidated
Indebtedness, in each case for the four consecutive fiscal quarters most recently ended.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Foreign Subsidiary&#148; </B>means each Subsidiary of the Company which is organized under the laws of
any jurisdiction other than, and which is conducting the majority of its business outside of, the
United States or any state thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;GAAP&#148; </B>means generally accepted accounting principles as in effect from time to time in the
United States of America.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Governmental Authority&#148; </B>means
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the government of
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the United States of America or any State or other political subdivision
thereof, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any jurisdiction in which the Company or any Subsidiary conducts all or
any part of its business, or which asserts jurisdiction over any properties of the
Company or any Subsidiary, or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;any entity exercising executive, legislative, judicial, regulatory or
administrative functions of, or pertaining to, any such government.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Granting Party&#148; </B>means each Domestic Subsidiary of the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Guaranty&#148; </B>means, with respect to any Person, any obligation (except the endorsement in the
ordinary course of business of negotiable instruments for deposit or collection) of such Person
guaranteeing or in effect guaranteeing any Indebtedness, dividend or other obligation of any other
Person in any manner, whether directly or indirectly, including without limitation obligations
incurred through an agreement, contingent or otherwise, by such Person:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to purchase such Indebtedness or obligation or any property constituting security
therefor;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to advance or supply funds (i)&nbsp;for the purchase or payment of such Indebtedness or
obligation, or (ii)&nbsp;to maintain any working capital or other balance sheet condition or any
income statement condition of any other Person or otherwise to advance or make available
funds for the purchase or payment of such Indebtedness or obligation;
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to lease properties or to purchase properties or services primarily for the purpose
of assuring the owner of such Indebtedness or obligation of the ability of any other Person
to make payment of the Indebtedness or obligation; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) otherwise to assure the owner of such Indebtedness or obligation against loss in
respect thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In any computation of the Indebtedness or other liabilities of the obligor under any Guaranty,
the Indebtedness or other obligations that are the subject of such Guaranty shall be assumed to be
direct obligations of such obligor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Hazardous Material&#148; </B>means any and all pollutants, toxic or hazardous wastes or any other
substances that might pose a hazard to health or safety, the removal of which may be required or
the generation, manufacture, refining, production, processing, treatment, storage, handling,
transportation, transfer, use, disposal, release, discharge, spillage, seepage, or filtration of
which is or shall be restricted, prohibited or penalized by any applicable law (including without
limitation asbestos, urea formaldehyde foam insulation and polychlorinated biphenyls).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;holder&#148; </B>means, with respect to any Note, the Person in whose name such Note is registered in
the register maintained by the Company pursuant to Section&nbsp;11.1.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Indebtedness&#148; </B>with respect to any Person means, at any time, without duplication,
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) its liabilities for borrowed money or its mandatory purchase, redemption or other
retirement obligations in respect of mandatorily redeemable Preferred Stock,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) its liabilities for the deferred purchase price of property acquired by such Person
(excluding accounts payable arising in the ordinary course of business and not overdue but
including all liabilities created or arising under any conditional sale or other title
retention agreement with respect to any such property),
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) its Capitalized Lease Obligations,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all liabilities for borrowed money secured by any Lien with respect to any property
owned by such Person (whether or not it has assumed or otherwise become liable for such
liabilities),
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all its liabilities in respect of letters of credit or instruments serving a
similar function issued or accepted for its account by banks and other financial
institutions (whether or not representing obligations for borrowed money),
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Swap Contracts of such Person, and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any Guaranty of such Person with respect to liabilities of a type described in any
of clauses (a)&nbsp;through (f)&nbsp;above.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indebtedness of any Person shall include all obligations of such Person of the character described
in clauses (a)&nbsp;through (g)&nbsp;above to the extent such Person remains legally liable in respect
thereof notwithstanding that any such obligation is deemed to be extinguished under GAAP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Institutional Investor&#148; </B>means (a)&nbsp;any original purchaser of a Note, (b)&nbsp;any holder of a Note
holding (together with one or more of its Affiliates) more than 2% of the aggregate principal
amount of the Notes then outstanding, and (c)&nbsp;any bank, trust company, savings and loan association
or other financial institution, any pension plan, any investment company, any insurance company,
any broker or dealer, or any other similar financial institution or entity, regardless of legal
form.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Intercreditor Agreement&#148; </B>means that certain Intercreditor and Collateral Agency Agreement,
dated as of September&nbsp;10, 2008, among the Collateral Agent, the Bank Administrative Agent, Calyon
New York Branch, the 2004 Noteholders and the 2006 Noteholders and consented to by the Company and
each Granting Party, as hereafter amended, modified or supplemented from time to time,
substantially in the form of Exhibit&nbsp;3.5.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Investments&#148; </B>has the meaning specified in Section&nbsp;8.4 hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Lenders&#148; </B>means, collectively, the lenders from time to time party to the Credit Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Leverage Ratio&#148; </B>means, as of any date of determination, for the Company and its Subsidiaries
on a consolidated basis, the ratio of (a)&nbsp;Consolidated Indebtedness as of such date to (b)&nbsp;EBITDA
for the four consecutive fiscal quarters most recently ended. For purposes of calculating the
Leverage Ratio as at any date, EBITDA shall be calculated on a pro forma basis (as certified by the
Company to the each Noteholder) assuming that all Acquisitions made, and all divestitures
completed, during the four consecutive fiscal quarters then most recently ended had been made on
the first day of such period (but without adjustment for expected cost savings or other synergies).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Lien&#148; </B>means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), charge, or preference, priority or other security interest
or preferential arrangement in the nature of a security interest of any kind or nature whatsoever
(including any conditional sale or other title retention agreement or other encumbrance on title to
real property, and any financing lease having substantially the same economic effect as any of the
foregoing).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Majority Creditors&#148; </B>has the meaning specified in the Intercreditor Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Make-Whole Amount&#148; </B>means, with respect to any Note, an amount equal to the excess, if any, of
the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of
such Note over the amount of such Called Principal, provided that the Make-Whole Amount may in no
event be less than zero. For the purposes of determining the Make-Whole Amount, the following
terms have the following meanings:
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Called Principal&#148; </I></B>means, with respect to any Note, the principal of such Note that is
to be prepaid pursuant to Section&nbsp;6.2 or has become or is declared to be immediately due and
payable pursuant to Section&nbsp;10.1, as the context requires.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Discounted Value&#148; </I></B>means, with respect to the Called Principal of any Note, the amount
obtained by discounting all Remaining Scheduled Payments with respect to such Called
Principal from their respective scheduled due dates to the Settlement Date with respect to
such Called Principal, in accordance with accepted financial practice and at a discount
factor (applied on the same periodic basis as that on which interest on the Notes is
payable) equal to the Reinvestment Yield with respect to such Called Principal.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Reinvestment Yield&#148; </I></B>means, with respect to the Called Principal of any Note, 0.50%
over the yield to maturity implied by (i)&nbsp;the yields reported, as of 10:00&nbsp;A.M. (New York
City time) on the second Business Day preceding the Settlement Date with respect to such
Called Principal, on (x)&nbsp;the Bloomberg Financial Markets News screen PX1 or the equivalent
screen provided by Bloomberg Financial Markets News, or (y)&nbsp;if such on-line market data is
not at the time provided by Bloomberg Financial Markets News, on the display designated as
&#147;Page 500&#148; on the Telerate service (or such other display as may replace Page 500 on the
Telerate service), in any case for actively traded U.S. Treasury securities having a
maturity equal to the Remaining Average Life of such Called Principal as of such Settlement
Date, or (ii)&nbsp;if such yields are not reported as of such time or the yields reported as of
such time are not ascertainable (including by way of interpolation), the Treasury Constant
Maturity Series&nbsp;Yields reported, for the latest day for which such yields have been so
reported as of the second Business Day preceding the Settlement Date with respect to such
Called Principal, in Federal Reserve Statistical Release H.15 (519) (or any comparable
successor publication) for actively traded U.S. Treasury securities having a constant
maturity equal to the Remaining Average Life of such Called Principal as of such Settlement
Date. Such implied yield will be determined, if necessary, by (a)&nbsp;converting U.S. Treasury
bill quotations to bond-equivalent yields in accordance with accepted financial practice and
(b)&nbsp;interpolating linearly between (1)&nbsp;the actively traded U.S. Treasury security with a
maturity closest to and greater than the Remaining Average Life and (2)&nbsp;the actively traded
U.S. Treasury security with a maturity closest to and less than the Remaining Average Life.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Remaining Average Life&#148; </I></B>means, with respect to any Called Principal, the number of
years (calculated to the nearest one-twelfth year) obtained by dividing (i)&nbsp;such Called
Principal into (ii)&nbsp;the sum of the products obtained by multiplying (a)&nbsp;the principal
component of each Remaining Scheduled Payment with respect to such Called Principal by (b)
the number of years (calculated to the nearest one-twelfth year) that will elapse between
the Settlement Date with respect to such Called Principal and the scheduled due date of such
Remaining Scheduled Payment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Remaining Scheduled Payments&#148; </I></B>means, with respect to the Called Principal of any Note,
all payments of such Called Principal and interest thereon that would be due after the
Settlement Date with respect to such Called Principal if no payment of such Called Principal
were made prior to its scheduled due date, provided that if such
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Settlement Date is not a date on which interest payments are due to be made under the
terms of the Notes, then the amount of the next succeeding scheduled interest payment will
be reduced by the amount of interest accrued to such Settlement Date and required to be paid
on such Settlement Date pursuant to Section&nbsp;6.2 or 10.1.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Settlement Date&#148; </I></B>means, with respect to the Called Principal of any Note, the date on
which such Called Principal is to be prepaid pursuant to Section&nbsp;6.2 or has become or is
declared to be immediately due and payable pursuant to Section&nbsp;10.1, as the context
requires.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Material&#148; </B>means material in relation to the business, operations, affairs, financial
condition, assets, properties, or prospects of the Company and its Subsidiaries taken as a whole.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Material Adverse Effect&#148; </B>means a material adverse effect on (a)&nbsp;the business, operations,
affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a
whole, (b)&nbsp;the ability of the Company to perform its obligations under this Agreement and the Notes
or (c)&nbsp;the validity or enforceability of this Agreement, the Notes or any Subsidiary Guarantee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Maximum Amount&#148;</B> means on any date an amount equal to 10% of pro forma consolidated net
revenues of the Company and its Subsidiaries for the four consecutive fiscal quarters then most
recently ended, determined on a consolidated basis in accordance with GAAP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Mortgage Instrument&#148; </B>has the meaning specified in Section&nbsp;7.8 hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Mortgaged Property&#148; </B>has the meaning specified in Section&nbsp;7.8 hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Multiemployer Plan&#148; </B>means any Plan that is a &#147;multiemployer plan&#148; (as such term is defined in
section 4001(a)(3) of ERISA).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Net Cash Proceeds&#148; </B>means:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;with respect to any Asset Sale by the Company or any of its Subsidiaries, or any
Extraordinary Receipt received or paid to the account of the Company or any of its Subsidiaries,
the excess, if any, of (i)&nbsp;the sum of cash and cash equivalents received in connection with such
transaction (including any cash or cash equivalents received by way of deferred payment pursuant
to, or by monetization of, a note receivable or otherwise, but only as and when so received) over
(ii)&nbsp;the sum of (A)&nbsp;the principal amount of any Indebtedness that is secured by the applicable
asset and that is required to be repaid in connection with such transaction (other than
Indebtedness under the Financing Documents), (B)&nbsp;the reasonable and customary out-of-pocket
expenses incurred by the Company or such Subsidiary in connection with such transaction and
(C)&nbsp;taxes reasonably estimated to be actually payable as a result of the relevant transaction;
provided that, if the amount of any estimated taxes pursuant to subclause&nbsp;(C) exceeds the amount of
taxes actually required to be paid in cash in respect of such Asset Sale, the aggregate amount of
such excess shall constitute Net Cash Proceeds; and
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;with respect to the sale or issuance of any Equity Interest by the Company or any of its
Subsidiaries, or the incurrence or issuance of any Indebtedness by the Company or any of its
Subsidiaries, the excess of (i)&nbsp;the sum of the cash and cash equivalents received in connection
with such transaction over (ii)&nbsp;the underwriting discounts and commissions, and other reasonable
and customary out-of-pocket expenses, incurred by the Company or such Subsidiary in connection
therewith.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Note Prepayment Basis&#148; </B>has the meaning specified in Section&nbsp;6.1(b)(i) hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Notes&#148; </B>has the meaning specified in Section&nbsp;1.3 hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Officer&#146;s Certificate&#148; </B>means a certificate of a Senior Financial Officer or of any other
officer of the Company whose responsibilities extend to the subject matter of such certificate.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Organization Documents&#148; </B>means, (a)&nbsp;with respect to any corporation, the certificate or
articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with
respect to any non-U.S. jurisdiction); (b)&nbsp;with respect to any limited liability company, the
certificate or articles of formation or organization and operating agreement; and (c)&nbsp;with respect
to any partnership, joint venture, trust or other form of business entity, the partnership, joint
venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with
the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;PBGC&#148; </B>means the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any
successor thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Permitted Acquisitions&#148; </B>means an Acquisition (a)&nbsp;which is non-hostile, (b)&nbsp;which occurs when
no Default or Event of Default exists or will result therefrom, (c)&nbsp;which after giving effect to
which, on a pro forma basis (assuming that such Acquisition had occurred on the last day of the
fiscal quarter most recently ended from the date which is one year prior to the date of such
Acquisition) no Default or Event of Default will exist; and (d)&nbsp;with respect to which the Required
Holders have given their prior written consent. &#147;Permitted Acquisition&#148; shall include the
acquisition by the Company of the assets of a division of an unaffiliated company previously
disclosed immediately prior to the Effective Date to the Noteholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Permitted Liens&#148; </B>has the meaning specified in Section&nbsp;8.1 hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Person&#148; </B>means an individual, partnership, corporation, limited liability company,
association, trust, unincorporated organization, or a government or agency or political subdivision
thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Plan&#148; </B>means an &#147;employee benefit plan&#148; (as defined in section 3(3) of ERISA) that is or,
within the preceding five years, has been established or maintained, or to which contributions are
or, within the preceding five years, have been made or required to be made, by
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">the Company or any ERISA Affiliate or with respect to which the Company or any ERISA Affiliate
may have any liability.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Preferred Stock"</B>, as applied to any Person, means shares or other equity interests of such
person that shall be entitled to preference or priority over any other shares of such Person in
respect of either the payment of dividends or the distribution of assets upon liquidation, or both.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;property&#148; </B>or <B>&#147;properties&#148; </B>means, unless otherwise specifically limited, real or personal
property of any kind, tangible or intangible, inchoate or otherwise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Reinvestment Property&#148; </B>has the meaning set forth in Section&nbsp;6.1(b)(i) hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Required Holders&#148; </B>means, at any time, the holders of at least a majority in unpaid principal
amount of the Notes at the time outstanding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Required Lenders&#148; </B>has the meaning specified in the Credit Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Responsible Officer&#148; </B>means any Senior Financial Officer and any other officer of the Company
with responsibility for the administration of the relevant portion of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Restricted Payments&#148; </B>means (i)&nbsp;the authorization, declaration or payment of any Dividend,
(ii)&nbsp;the payment, purchase or redemption of principal of or interest on any Subordinated Debt,
(iii)&nbsp;Stock Redemptions, (iv)&nbsp;any voluntary or optional prepayment of the Indebtedness under the
Credit Facility Documents that permanently reduces the Aggregate Commitments (as defined therein)
and (v)&nbsp;any voluntary or optional prepayment of the Indebtedness under the Term Loan Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Securities Act&#148; </B>means the Securities Act of 1933, as amended from time to time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Security Agreement&#148; </B>has the meaning specified in Section&nbsp;3.6 hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Security Documents&#148; </B>means the Security Agreement, any Mortgage Instrument, the Intercreditor
Agreement and any document related thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Senior Financial Officer&#148; </B>means the chief financial officer, principal accounting officer,
treasurer or comptroller of the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Senior Secured Obligations&#148; </B>has the meaning specified in the Intercreditor Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Significant Subsidiary&#148; </B>means, at any date, a Subsidiary (a)&nbsp;which, together with its
Subsidiaries, produced more than 5% of Consolidated Net Income for the fiscal year then most
recently ended (calculated on a pro forma basis in the case of any Person which became a Subsidiary
during or after the end of such fiscal year) or (b)&nbsp;the assets of which, together with the
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">assets of its Subsidiaries, exceeded 5% of the consolidated total assets (fixed and current)
of the Company and its Subsidiaries as of the last day of such fiscal year (calculated on a pro
forma basis as of the last day of such fiscal year in the case of any Person which became a
Subsidiary thereafter).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Stock Redemptions&#148; </B>means with respect to any Person any and all funds, cash or other payments
made in respect of the redemption, repurchase or acquisition of such capital stock (specifically
including, without limitation, a Treasury Stock Purchase), unless such capital stock shall be
redeemed or acquired through the exchange of such capital stock with capital stock of the same
class or options or warrants to purchase such capital stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Subordinated Debt&#148; </B>means any Indebtedness of the Company or any Subsidiary which is expressly
subordinated to the Notes, at all times pursuant to terms satisfactory to the Required Holders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Subsidiary&#148; </B>means, as to any Person, any corporation or other business entity a majority of
the combined voting power of all Voting Equity Interests of which is owned by such Person or one or
more of its Subsidiaries or such Person and one or more of its Subsidiaries. Unless the context
otherwise clearly requires, any reference to a &#147;Subsidiary&#148; is a reference to a Subsidiary of the
Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Subsidiary Guarantee&#148; </B>is defined in Section&nbsp;1.5.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Subsidiary Guarantors&#148; </B>is defined in Section&nbsp;1.5.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Superpriority Amount&#148; </B>has the meaning specified in the Intercreditor Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Swap Contract&#148; </B>means (a)&nbsp;any and all rate swap transactions, basis swaps, credit derivative
transactions, forward rate transactions, commodity swaps, commodity options, forward commodity
contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or
options or forward bond or forward bond price or forward bond index transactions, interest rate
options, forward foreign exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap transactions, currency options,
spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is
governed by or subject to any master agreement, and (b)&nbsp;any and all transactions of any kind, and
the related confirmations, which are subject to the terms and conditions of, or governed by, any
form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master
agreement, together with any related schedules, a &#147;Master Agreement&#148;), including any such
obligations or liabilities under any Master Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Term Loan Agreement&#148; </B>has the meaning specified in Section&nbsp;3.5(c) hereof.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Term Loan Documents&#148; </B>means the Term Loan Agreement and any and all promissory notes and other
documents and agreements executed and delivered in connection therewith.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Treasury Stock Purchase&#148; </B>means any purchase, redemption, retirement, defeasance or other
acquisition (including any sinking fund or similar deposit for such purpose) by the Company or any
Subsidiary of the Company of its capital stock or any warrants, rights or options to acquire such
capital stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#147;</I><B>USA Patriot Act</B><I>&#148; </I>means United States Public Law 107-56, Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of
2001, as amended from time to time, and the rules and regulations promulgated thereunder from time
to time in effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Voting Equity Interests&#148; </B>of any Person means any Equity Interests of any class or classes
having ordinary voting power for the election of at least a majority of the members of the board of
directors, managing general partners or the equivalent governing body of such Person, irrespective
of whether, at the time, any Equity Interests of any other class or classes or such entity shall
have or might have voting power by reason of the happening of any contingency.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Wholly-Owned Subsidiary&#148; </B>means any corporation in which (other than directors&#146; qualifying
shares required by law) 100% of the capital stock of each class having ordinary voting power, and
100% of the capital stock of every other class, in each case, at the time as of which any
determination is being made, is owned, beneficially and of record, by the Company, or by one or
more of the other Wholly-Owned Subsidiaries, or both.
</DIV>



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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;1.3
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM OF NOTE</B>
</DIV>


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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;1.5
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM OF SUBSIDIARY GUARANTEE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GUARANTEE AGREEMENT dated as of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 20&#95;&#95;&#95;, made by <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, a
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> corporation (the <B>&#147;Guarantor&#148;</B>), in favor of the holders from time to time of the
Notes referred to below (collectively the <B>&#147;Obligees&#148;</B>).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Spartech Corporation, a Delaware corporation (the <B>&#147;Company&#148;</B>), has entered into
several Note Purchase Agreements dated as of June&nbsp;5, 2006 (as amended pursuant to the Amended and
Restated Note Purchase Agreement (Initially Dated as of June&nbsp;5, 2006) dated as of September&nbsp;10,
2008, and as otherwise modified from time to time, collectively the <B>&#147;Note Agreements&#148; </B>and terms
defined therein and not otherwise defined herein are being used herein as so defined) with the
institutional purchasers listed in Schedule&nbsp;A thereto, pursuant to which the Company sold and such
purchasers purchased $50,000,000 aggregate principal amount of its 5.54% Senior Notes due 2016 (as
amended and restated, and as otherwise modified from time to time, collectively, the <B>&#147;Notes&#148;</B>); and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, it is a requirement of the Note Agreements that the Guarantor shall execute and
deliver this Guarantee Agreement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the premises the Guarantor hereby agrees as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1. <U>Guarantee</U>. The Guarantor unconditionally and irrevocably guarantees, as
primary obligor and not merely as surety,
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. the punctual payment when due, whether at stated maturity, by acceleration or
otherwise, of all obligations of the Company arising under the Notes and the Note
Agreements, including all extensions, modifications, substitutions, amendments and renewals
thereof, whether for principal, interest (including without limitation interest on any
overdue principal, premium and interest at the rate specified in the Notes and interest
accruing or becoming owing both prior to and subsequent to the commencement of any
proceeding against or with respect to the Company under any chapter of the Bankruptcy Code
of 1978, 11 U.S.C. &#167;101 <U>et</U> <U>seq</U>.), Make-Whole Amount, Additional Amounts,
fees, expenses, indemnification or otherwise, and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. the due and punctual performance and observance by the Company of all covenants,
agreements and conditions on its part to be performed and observed under the Notes and the
Note Agreements;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(all such obligations are called the <B>&#147;Guaranteed Obligations&#148;</B>); provided that the aggregate
liability of the Guarantor hereunder in respect of the Guaranteed Obligations shall not exceed at
any time the lesser of (1)&nbsp;the amount of the Guaranteed Obligations and (2)&nbsp;the maximum amount for
which the Guarantor is liable under this Guarantee Agreement without such liability being deemed a
fraudulent transfer under applicable Debtor Relief Laws (as hereinafter defined), as determined by
a court of competent jurisdiction. As used herein, the term <B>&#147;Debtor Relief Laws&#148; </B>means any
applicable liquidation, conservatorship, bankruptcy, moratorium,
</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">rearrangement, insolvency, reorganization or similar debtor relief laws affecting the rights of
creditors generally from time to time in effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Guarantor also agrees to pay, in addition to the amount stated above, any and all
reasonable expenses (including reasonable counsel fees and expenses) incurred by any Obligee in
enforcing any rights under this Guarantee Agreement or in connection with any amendment of this
Guarantee Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without limiting the generality of the foregoing, this Guarantee Agreement guarantees, to the
extent provided herein, the payment of all amounts which constitute part of the Guaranteed
Obligations and would be owed by any other Person to any Obligee but for the fact that they are
unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar
proceeding involving such Person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 2. <U>Guarantee Absolute</U>. The obligations of the Guarantor under Section&nbsp;1 of
this Guarantee Agreement constitute a present and continuing guaranty of payment and not of
collectability and the Guarantor guarantees that the Guaranteed Obligations will be paid strictly
in accordance with the terms of the Notes and the Note Agreements, regardless of any law,
regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or
the rights of any Obligee with respect thereto. The obligations of the Guarantor under this
Guarantee Agreement are independent of the Guaranteed Obligations, and a separate action or actions
may be brought and prosecuted against the Guarantor to enforce this Guarantee Agreement,
irrespective of whether any action is brought against the Company or any other Person liable for
the Guaranteed Obligations or whether the Company or any other such Person is joined in any such
action or actions. The liability of the Guarantor under this Guarantee Agreement shall be primary,
absolute, irrevocable, and unconditional irrespective of:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. any lack of validity or enforceability of any Guaranteed Obligation, any Note, the
Note Agreements or any agreement or instrument relating thereto;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. any change in the time, manner or place of payment of, or in any other term of, all
or any of the Guaranteed Obligations, or any other amendment or waiver of or any consent to
departure from any Note, the Note Agreements or this Guarantee Agreement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. any taking, exchange, release or non-perfection of any collateral, or any taking,
release or amendment or waiver of or consent to departure by the Guarantor or other Person
liable, or any other guarantee, for all or any of the Guaranteed Obligations;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. any manner of application of collateral, or proceeds thereof, to all or any of the
Guaranteed Obligations, or any manner of sale or other disposition of any collateral or any
other assets of the Company or any other Subsidiary;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. any change, restructuring or termination of the corporate structure or existence of
the Company or any other Subsidiary; or
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. any other circumstance (including without limitation any statute of limitations)
that might otherwise constitute a defense, offset or counterclaim available to, or a
discharge of, the Company or the Guarantor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Guarantee Agreement shall continue to be effective or be reinstated, as the case may be,
if at any time any payment of any of the Guaranteed Obligations is rescinded or must otherwise be
returned by any Obligee, or any other Person upon the insolvency, bankruptcy or reorganization of
the Company or otherwise, all as though such payment had not been made.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3. <U>Waivers</U>. The Guarantor hereby irrevocably waives, to the extent permitted
by applicable law:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. promptness, diligence, presentment, notice of acceptance and any other notice with
respect to any of the Guaranteed Obligations and this Guarantee Agreement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. any requirement that any Obligee or any other Person protect, secure, perfect or
insure any Lien or any property subject thereto or exhaust any right or take any action
against the Company or any other Person or any collateral;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. any defense, offset or counterclaim arising by reason of any claim or defense based
upon any action by any Obligee;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. any duty on the part of any Obligee to disclose to the Guarantor any matter, fact or
thing relating to the business, operation or condition of any Person and its assets now
known or hereafter known by such Obligee; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. any rights by which it might be entitled to require suit on an accrued right of
action in respect of any of the Guaranteed Obligations or require suit against the Company
or the Guarantor or any other Person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 4. <U>Waiver of Subrogation and Contribution</U>. The Guarantor shall not assert,
enforce, or otherwise exercise (A)&nbsp;any right of subrogation to any of the rights, remedies, powers,
privileges or liens of any Obligee or any other beneficiary against the Company or any other
obligor on the Guaranteed Obligations or any collateral or other security, or (B)&nbsp;any right of
recourse, reimbursement, contribution, indemnification, or similar right against the Company, and
the Guarantor hereby waives any and all of the foregoing rights, remedies, powers, privileges and
the benefit of, and any right to participate in, any collateral or other security given to any
Obligee or any other beneficiary to secure payment of the Guaranteed Obligations, until such time
as the Guaranteed Obligations have been paid in full.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 5. <U>Representations and Warranties</U>. The Guarantor hereby represents and
warrants as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Guarantor is a corporation duly organized, validly existing and in good standing
under the laws of its jurisdiction of incorporation. The execution, delivery and
performance of this Guarantee Agreement have been duly authorized by all necessary action on
the part of the Guarantor.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The execution, delivery and performance by the Guarantor of this Guarantee Agreement
will not (i)&nbsp;contravene, result in any breach of, or constitute a default under, or result
in the creation of any Lien in respect of any property of the Guarantor or any Subsidiary of
the Guarantor under, any indenture, mortgage, deed of trust, loan, purchase or credit
agreement, lease, corporate charter or by-laws, or any other material agreement or
instrument to which the Guarantor or any Subsidiary of the Guarantor is bound or by which
the Guarantor or any Subsidiary of the Guarantor or any of their respective properties may
be bound or affected, (ii)&nbsp;conflict with or result in a breach of any of the terms,
conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator
or Governmental Authority applicable to the Guarantor or any Subsidiary of the Guarantor or
(iii)&nbsp;violate any provision of any statute or other rule or regulation of any Governmental
Authority applicable to the Guarantor or any Subsidiary of the Guarantor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. The Guarantor and the Company are members of the same consolidated group of
companies and are engaged in related businesses and the Guarantor will derive substantial
direct and indirect benefit from the execution and delivery of this Guarantee Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 6. <U>Amendments, Etc</U>. No amendment or waiver of any provision of this
Guarantee Agreement and no consent to any departure by the Guarantor therefrom shall in any event
be effective unless the same shall be in writing and signed by the Required Holders, and then such
waiver or consent shall be effective only in the specific instance and for the specific purpose for
which given; provided that no amendment, waiver or consent shall, unless in writing and signed by
all Obligees, (i)&nbsp;limit the liability of or release the Guarantor hereunder, (ii)&nbsp;postpone any date
fixed for, or change the amount of, any payment hereunder or (iii)&nbsp;change the percentage of Notes
the holders of which are, or the number of Obligees, required to take any action hereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7. <U>Addresses for Notices</U>. All notices and other communications provided for
hereunder shall be in writing and (A)&nbsp;by telecopy if the sender on the same day sends a confirming
copy of such notice by a recognized overnight delivery service (charges prepaid), or (B)&nbsp;by
registered or certified mail with return receipt requested (postage prepaid), or (C)&nbsp;by a
recognized overnight delivery service (with charges prepaid). Such notice if sent to the Guarantor
shall be addressed to it at the address of the Guarantor provided below its name on the signature
page of this Guarantee Agreement or at such other address as the Guarantor may hereafter designate
by notice to each holder of Notes, or if sent to any holder of Notes, shall be addressed to it as
set forth in the Note Agreements. Any notice or other communication herein provided to be given to
the holders of all outstanding Notes shall be deemed to have been duly given if sent as aforesaid
to each of the registered holders of the Notes at the time outstanding at the address for such
purpose of such holder as it appears on the Note register maintained by the Company in accordance
with the provisions of Section&nbsp;11.1 of the Note Agreements. Notices under this Section&nbsp;7 will be
deemed given only when actually received.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 8. <U>No Waiver; Remedies</U>. No failure on the part of any Obligee to exercise,
and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any
single or partial exercise of any right hereunder preclude any other or further exercise
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">thereof or the exercise of any other right. The remedies herein provided are cumulative and
not exclusive of any remedies provided by law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 9. <U>Continuing Guarantee</U>. This Guarantee Agreement is a continuing guarantee
of payment and performance and shall (A)&nbsp;remain in full force and effect until payment in full of
the Guaranteed Obligations and all other amounts payable under this Guarantee Agreement, (B)&nbsp;be
binding upon the Guarantor, its successors and assigns and (C)&nbsp;inure to the benefit of and be
enforceable by the Obligees and their successors, transferees and assigns.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 10. <U>Jurisdiction and Process; Waiver of Jury Trial</U>. The Guarantor
irrevocably submits to the non-exclusive <U>in</U> <U>personam</U> jurisdiction of any New York
State or federal court sitting in the Borough of Manhattan, The City of New York, over any suit,
action or proceeding arising out of or relating to this Guarantee Agreement. To the fullest extent
permitted by applicable law, the Guarantor irrevocably waives and agrees not to assert, by way of
motion, as a defense or otherwise, any claim that it is not subject to the <U>in</U>
<U>personam</U> jurisdiction of any such court, any objection that it may now or hereafter have to
the laying of the venue of any such suit, action or proceeding brought in any such court and any
claim that any such suit, action or proceeding brought in any such court has been brought in an
inconvenient forum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Guarantor agrees, to the fullest extent permitted by applicable law, that a final judgment
in any suit, action or proceeding of the nature referred to in this Section&nbsp;10 brought in any such
court shall be conclusive and binding upon the Guarantor subject to rights of appeal, as the case
may be, and may be enforced in the courts of the United States of America or the State of New York
(or any other courts to the jurisdiction of which the Guarantor is or may be subject) by a suit
upon such judgment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Guarantor consents to process being served in any suit, action or proceeding of the nature
referred to in this Section&nbsp;10 by mailing a copy thereof by registered or certified mail, postage
prepaid, return receipt requested, to the Guarantor at its address specified in Section&nbsp;7 or at
such other address of which you shall then have been notified pursuant to said Section. The
Guarantor agrees that such service upon receipt (i)&nbsp;shall be deemed in every respect effective
service of process upon it in any such suit, action or proceeding and (ii)&nbsp;shall, to the fullest
extent permitted by applicable law, be taken and held to be valid personal service upon and
personal delivery to the Guarantor. Notices hereunder shall be conclusively presumed received as
evidenced by a delivery receipt furnished by the United States Postal Service or any recognized
courier or overnight delivery service.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing in this Section&nbsp;10 shall affect the right of any holder of a Note to serve process in
any manner permitted by law, or limit any right that the holders of any of the Notes may have to
bring proceedings against the Guarantor in the courts of any appropriate jurisdiction or to enforce
in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE GUARANTOR WAIVES TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS GUARANTEE
AGREEMENT OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 11. &#091;Tax Indemnification.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1. <U>Payments Without Tax Withholding</U><B>. </B>All payments whatsoever by the Guarantor
under this Guarantee Agreement shall be made in the lawful currency of the United States free and
clear of, and without reduction or liability for or on account of, any present or future taxes
(whether income, documentary, sales, stamp, registration, issue, capital, property, excise or
otherwise), levies, imposts, duties, fees, charges, deductions, withholding, restrictions or
conditions or any penalties, interest or additions thereto of any nature whatsoever (herein called
<B>&#147;Tax"</B>) unless any withholding or deduction for or on account of any Tax is required by law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2. <U>Gross-Up for Required Tax Withholding</U>. If the Guarantor shall be obligated by
law to make any such withholding or deduction for any Tax imposed, levied, collected, assessed or
withheld by or within the jurisdiction in which the Guarantor is organized or resident for tax
purposes (other than the United States) or any political subdivision or taxing authority thereof or
therein or by any other jurisdiction (or any taxing authority thereof or therein) other than the
United States from or through which payments under the Guaranteed Obligations by the Guarantor are
actually made (hereinafter a &#147;<B>Taxing Jurisdiction</B>&#148;), then the Guarantor will promptly (i)&nbsp;notify
the affected holders of Guaranteed Obligations of such requirement, (ii)&nbsp;pay such additional
amounts of interest (&#147;<B>Guarantee Additional Amounts</B>&#148;) as may be necessary so that the net amount
received by each holder of Guaranteed Obligations (including Guarantee Additional Amounts) after
such withholding or deduction will not be less than the amount such holder would have received if
such Taxes had not been withheld or deducted, (iii)&nbsp;make such withholding or deduction and remit
the full amount deducted or withheld to the relevant authority in accordance with applicable law
and (iv)&nbsp;furnish such holder with the original receipt of such payment from such government or
taxing authority (or such other evidence sufficient under United States Treasury Regulations
1.905-2(a)(2) under the Code (or any successor or subsequent provisions) so as to allow such holder
to verify that such Tax has been paid to such government or taxing authority). Notwithstanding the
provisions of this Section&nbsp;11, no such Guarantee Additional Amounts shall be payable for or on
account of:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Tax which would not have been imposed but for (1)&nbsp;the connection of a holder
with the Taxing Jurisdiction (other than the mere holding of a Note) including the existence
of a permanent establishment or other fixed place of business of such holder in such Taxing
Jurisdiction or (2)&nbsp;the appointment by a holder of a collecting agent in such Taxing
Jurisdiction;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any Tax that is imposed or withheld by reason of the failure by the holder of any
Note, notwithstanding its legal and practical ability, promptly after becoming a holder of a
Note to provide information concerning the nationality, residence or identity of such holder
or to make such declaration or other similar claim or report (provided such declaration or
claim does not require the holder to reveal any confidential or proprietary tax return or
other information and does not require the holder to incur any undue
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">expense) as may be required by a statute, treaty or regulation of the Taxing
Jurisdiction as a precondition to exemption from all or part of such Tax; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any combination of clauses (A)&nbsp;and (B)&nbsp;above;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">provided further, however, that no Guarantee Additional Amounts shall be payable (x)&nbsp;in respect of
any Guaranteed Obligation held by a holder who is a fiduciary or a partnership or a beneficial
owner who is other than the sole beneficial owner of such Guaranteed Obligation to the extent a
beneficiary or settlor with respect to such fiduciary or a member of such partnership or a
beneficial owner would not have been entitled to such Guarantee Additional Amounts had it been the
holder of such Guaranteed Obligation or (y)&nbsp;in respect of any Guaranteed Obligation in excess of
the amount which the Guarantor would have been obligated to pay if such Guaranteed Obligation had
been beneficially owned at all relevant times by Persons who were resident in the United States for
purposes of the income tax treaty in effect between the United States and such Taxing Jurisdiction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Guarantor fails to pay any withheld or deducted Taxes pursuant to clause (iii)&nbsp;of
Section&nbsp;11.2 in accordance with applicable law, then the Guarantor shall indemnify and hold
harmless the affected holder and reimburse such holder for the amount of Taxes imposed on and paid
by such holder so that the net amount received by such holder after such reimbursement will not be
less than the net amount such holder would have received if Taxes on such reimbursement had not
been imposed, but excluding any Taxes on such holder&#146;s net income generally or based on such
holder&#146;s capital generally.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3. <U>Taxes Imposed by Means Other Than Withholding</U>. If any Taxes are imposed on a
holder of a Guaranteed Obligation (other than Taxes imposed by the United States, any State thereof
or other political subdivision thereof) with respect to any payment made by the Guarantor hereunder
by means other than deduction or withholding and the Guarantor would be obligated to pay Guarantee
Additional Amounts to such holder hereunder if such Taxes had been withheld or deducted, the
Guarantor shall indemnify and hold harmless each such holder and will upon notice by such holder
and provided that reasonable supporting documentation is provided, reimburse each such holder for
the amount of (i)&nbsp;any Taxes so levied or imposed and paid to such holder as a result of payments
made under or with respect to the Guaranteed Obligation and (ii)&nbsp;any Taxes so levied or imposed
with respect to any reimbursement under the foregoing clause (i)&nbsp;so that the net amount received by
such holder after such reimbursement will not be less than the net amount the holder would have
received if Taxes on such reimbursement had not been imposed, but excluding any Taxes on such
holder&#146;s net income generally or based on such holder&#146;s capital generally.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4. <U>Tax Information Disclosure</U>. For the avoidance of doubt, nothing herein shall
require any Person to disclose any information regarding its tax affairs or computations to the
Guarantor other than as shall be necessary to permit the Guarantor to determine whether any
Guarantee Additional Amounts would be required to be paid pursuant to the provisions of this
Section; provided, however, that no Person shall be obligated to disclose any of its tax returns to
the Guarantor or any agent of the Guarantor.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5. <U>Reimbursement of Guarantee Additional Amounts by Holder</U>. If any Taxes imposed
on any holder are paid or indemnified against by the Guarantor under this Section&nbsp;11, and such
holder receives a refund of any amount of Taxes paid or reimbursed by such Guarantor and such
holder is able, in good faith, to identify the tax refund as being attributable to such payment or
reimbursement, such holder shall pay to such Guarantor an amount equal to such refund.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;12. <U>Judgment Currency</U>. Any payment on account of an amount that is payable
hereunder by the Guarantor in U.S. Dollars which is made to or for the account of any Obligee in
any other currency, whether as a result of any judgment or order or the enforcement thereof or the
realization of any security or the liquidation of such Guarantor, shall constitute a discharge of
such Guarantor&#146;s obligation under this Guarantee Agreement only to the extent of the amount of U.S.
Dollars which such Obligee could purchase in the foreign exchange markets in London, England, with
the amount of such other currency in accordance with normal banking procedures at the rate of
exchange prevailing on the London Banking Day following receipt of the payment first referred to
above. If the amount of U.S. Dollars that could be so purchased is less than the amount of U.S.
Dollars originally due to such Obligee, the Guarantor agrees, to the fullest extent permitted by
law, to indemnify and save harmless such Obligee from and against all loss or damage arising out of
or as a result of such deficiency. This indemnity shall, to the fullest extent permitted by law,
constitute an obligation separate and independent from the other obligations contained in this
Guarantee Agreement, shall give rise to a separate and independent cause of action, shall apply
irrespective of any indulgence granted by such Obligee from time to time and shall continue in full
force and effect notwithstanding any judgment or order for a liquidated sum in respect of an amount
due hereunder or under any judgment or order. As used herein the term &#147;<B>London Banking Day</B>&#148; shall
mean any day other than Saturday or Sunday or a day on which commercial banks are required or
authorized by law to be closed in London, England.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 13.&#093;<SUP style="font-size: 85%; vertical-align: text-top">*</SUP> <U>Governing Law</U>. This Guarantee Agreement shall be construed
and enforced in accordance with, and the rights of the Guarantor and the Obligees shall be governed
by, the laws of the State of New York excluding choice-of-law principles of the law of such State
that would require the application of the laws of a jurisdiction other than such State.
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">*</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Bracketed Sections&nbsp;11 and 12 to be inserted if the
Guarantor is a Subsidiary with a jurisdiction of incorporation outside the
United States.</TD>
</TR>

</TABLE>


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<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the Guarantor has caused this Guarantee Agreement to be duly executed and
delivered as of the date first above written.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&#091;GUARANTOR&#093;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>

</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Address:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attention:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Telephone:<BR>
Telecopy:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;3.4
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM OF OPINION OF SPECIAL COUNSEL FOR COMPANY</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;3.5
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM OF INTERCREDITOR AGREEMENT</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Schedule&nbsp;4.4
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SUBSIDIARIES</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Schedule&nbsp;4.10(c)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>REAL PROPERTY</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Schedule&nbsp;4.10(d)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>LEASES</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Schedule&nbsp;4.11
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>LICENSES, ETC.</B>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Schedule&nbsp;4.13
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXISTING INDEBTEDNESS</B>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Schedule&nbsp;8.1
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>LIENS</B>
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