PHH CORP
EX-10.11: MASTER TERMS AND CONDITIONS
<DOCUMENT>
<TYPE>EX-10.11
<SEQUENCE>13
<FILENAME>y52588k2exv10w11.htm
<DESCRIPTION>EX-10.11: MASTER TERMS AND CONDITIONS
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<TITLE>EX-10.11</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.11</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">MASTER TERMS AND CONDITIONS FOR WARRANTS<BR>
ISSUED BY PHH CORPORATION
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purpose of this Master Terms and Conditions for Warrants (this &#147;<U>Master
Confirmation</U>&#148;), dated as of March&nbsp;27, 2008, is to set forth certain terms and conditions for
warrant transactions that PHH Corporation (&#147;<U>Issuer</U>&#148;) shall enter into with Citibank, N.A.
(&#147;Citi&#148;), as initial purchaser. Each such transaction (a &#147;<U>Transaction</U>&#148;) entered into
between Citi and Issuer that is to be subject to this Master Confirmation shall be evidenced by a
written confirmation substantially in the form of Exhibit&nbsp;A hereto, with such modifications thereto
as to which Issuer and Citi mutually agree (a &#147;<U>Confirmation</U>&#148;). This Master Confirmation
and each Confirmation together constitute a &#147;Confirmation&#148; as referred to in the Agreement
specified below.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Master Confirmation and a Confirmation evidence a complete binding agreement between you
and us as to the terms of the Transaction to which this Master Confirmation and such Confirmation
relates. This Master Confirmation and each Confirmation hereunder, shall supplement, form a part
of, and be subject to an agreement in the form of the 1992 ISDA Master Agreement
(Multicurrency-Cross Border) as if we had executed an agreement in such form on the Trade Date of
the first such Transaction (but without any Schedule except for the election of (i)&nbsp;the laws of the
State of New York as the governing law and (ii)&nbsp;United States dollars as the Termination Currency)
between you and us, and such agreement shall be considered the &#147;<U>Agreement</U>&#148; hereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The definitions and provisions contained in the 2002 ISDA Equity Derivatives Definitions (the
&#147;<U>Definitions</U>&#148;) as published by ISDA are incorporated into this Master Confirmation. For
the purposes of the Definitions, each reference herein or in any Confirmation hereunder to a
Warrant shall be deemed to be a reference to a Call Option or an Option, as context requires.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS MASTER CONFIRMATION WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REFERENCE TO CHOICE OF LAW DOCTRINE. THE PARTIES HERETO IRREVOCABLY
SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES
COURT FOR THE SOUTHERN DISTRICT OF NEW YORK IN CONNECTION WITH ALL MATTERS RELATING HERETO AND
WAIVE ANY OBJECTION TO THE LAYING OF VENUE IN, AND ANY CLAIM OF INCONVENIENT FORUM WITH RESPECT TO,
THESE COURTS.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Transactions under this Master Confirmation shall be the sole Transactions under the
Agreement. If there exists any ISDA Master Agreement between Citi and Issuer or any confirmation
or other agreement between Citi and Issuer pursuant to which an ISDA Master Agreement is deemed to
exist between Citi and Issuer, then notwithstanding anything to the contrary in such ISDA Master
Agreement, such confirmation or agreement or any other agreement to which Citi and Issuer are
parties, the Transactions under this Master Confirmation and the Agreement shall not be considered
Transactions under, or otherwise governed by, such existing or deemed ISDA Master Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. In the event of any inconsistency between this Master Confirmation, on the one hand, and
the Definitions or the Agreement, on the other hand, this Master Confirmation will control for the
purpose of the Transaction to which a Confirmation relates. In the event of any inconsistency
between the Definitions, the Agreement and this Master Confirmation, on the one hand, and a
Confirmation, on the other hand, the Confirmation will govern. With respect to a Transaction,
capitalized terms used herein that are not otherwise defined shall have the meaning assigned to
them in the Confirmation relating to such Transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Each party will make each payment specified in this Master Confirmation or a Confirmation
as being payable by such party, not later than the due date for value on that date in the place of
the account specified below or otherwise specified in writing, in freely transferable funds and in
a manner customary for payments in the required currency.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3. </B><U><B>Confirmations and General Terms</B></U><B>:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Master Confirmation and the Agreement, together with the Confirmation relating to a
Transaction, shall constitute the written agreement between Issuer and Citi with respect to such
Transaction. Each Transaction to which a Confirmation relates is a Warrant Transaction, which
shall be considered a Share Option Transaction for purposes of the Definitions, and shall have the
following terms:
</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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Components:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Each Transaction will be divided into individual Components, each with the terms</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">set forth in this Confirmation, and, in particular, with the Number of Warrants and</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">Expiration Date set forth in the Confirmation for such Transaction.  The payments and</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">deliveries to be made upon settlement of each Transaction will be determined separately</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">for each Component or such Transaction as if each Component were a separate Transaction</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">under the Agreement.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Warrant Style:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">European</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Warrant Type:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Call</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Seller:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Issuer</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Buyer:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Citi</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shares:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The common stock, USD 0.01 par value per share, of Issuer (Ticker Symbol: "PHH").</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade Date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">As set forth in the Confirmation for such Transaction</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Effective Date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">As set forth in the Confirmation for such Transaction</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Number of Warrants:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">For each Component, as set forth in
the Confirmation for such Transaction.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Multiple Exercise:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Not Applicable</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Warrant Entitlement:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">One Share Per Warrant</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Minimum Number of Warrants:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">0</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Maximum Number of Warrants:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">For any Transaction, the Number of
Warrants for such Transaction.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Strike Price:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">As set forth in the Confirmation for such Transaction</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Premium:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">As set forth in the Confirmation for such Transaction</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Premium Payment Date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">As set forth in the Confirmation for such Transaction</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Exchange:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">New York Stock Exchange</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Related Exchanges:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">All Exchanges</TD>
</TR>
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</TABLE>
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<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
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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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Calculation Agent:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Buyer.</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>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4. </B><U><B>Procedure for Exercise and Valuation</B></U><B>:</B></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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>In respect of any Component:</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expiration Time:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Valuation Time</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expiration Dates:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">As set forth in the Confirmation for such Transaction (or, if such date is</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">not a Scheduled Trading Day, the next following Scheduled Trading Day that is not</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">already an Expiration Date for another Component); <U>provided</U> that if that date</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">is a Disrupted Day, the Expiration Date for such Component shall be the first</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">succeeding Scheduled Trading Day that is not a Disrupted Day and is not or is not</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">deemed to be an Expiration Date in respect of any other Component of a Transaction</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">hereunder; and <U>provided</U>, <U>further</U>, that if the Expiration Date has not</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">occurred pursuant to the preceding proviso as of the Final Disruption Date, the Final</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">Disruption Date shall be the Expiration Date (irrespective of whether such date is an</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">Expiration Date in respect of any other Component for a Transaction).</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">Notwithstanding the foregoing and anything to the contrary in the Definitions, if a</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">Market Disruption Event occurs on any Expiration Date, the Calculation Agent may</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">determine that such Expiration Date is a Disrupted Day only in part, in which case the</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">Calculation Agent shall make adjustments to the number of Warrants for the relevant</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">Component for which such day shall be the Expiration Date and shall designate the</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">Scheduled Trading Day determined in the manner described in the immediately preceding</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">sentence as the Expiration Date for the remaining Warrants for such Component.  Section</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">6.6 of the Definitions shall not apply to any Valuation Date occurring on an Expiration</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">Date.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Automatic Exercise:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable.  The Warrants for any Component shall be deemed</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">automatically exercised at the Expiration Time on the Expiration Date for such</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">Component if at such time the Warrants are In-the-Money; <U>provided</U> that all</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">references in Section 3.4(b) of the Equity Definitions to "Physical Settlement" shall</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">be read as references to "Net Share Settlement."  &#147;<U>In-the-Money</U>" means, for any</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">Transaction, that the Reference Price is greater than the Strike Price for such</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">Transaction.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reference Price:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">For any Valuation Date, the per Share volume-weighted average price on the</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">Exchange as displayed under the heading "Bloomberg VWAP" on Bloomberg page PHH.N</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">&#060;equity&#062; AQR (or any successor thereto) in respect of the period from the</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">scheduled opening time to the Scheduled Closing Time (New York City time) on such</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">Valuation Date (or if such volume-weighted average price is unavailable, the market</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">value of one Share on such Valuation Date, as determined by</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="65%">&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">the Calculation Agent). Notwithstanding anything to the contrary in the Definitions, if there is a Market
 Disruption Event on any Valuation Date, then the Calculation Agent
shall determine the Reference Price
for such Valuation Date on the basis of its good faith estimate of the market value for the relevant
 Shares on such Valuation Date.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Valuation Time:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">As defined in Section 6.1 of the Definitions</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Valuation Date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Each Exercise Date</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>
</TR>
<TR valign="top">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Final Disruption Date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">For any Transaction, the eighth Scheduled Trading Day immediately following the scheduled Expiration Date for the last Component of such
Transaction.</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>
</TR>
<TR valign="top">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Market Disruption Event:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The third and fourth lines of Section 6.3(a) of the Definitions are hereby amended by deleting the words &#147;during the one hour period that ends at the
relevant Valuation Time&#148; and replacing them with &#147;at any time prior to the relevant Valuation Time&#148;.</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>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5. </B><U><B>Settlement Terms</B></U><B>:</B></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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>In respect of any Component:</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&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>
</TR>
<TR valign="top">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net Share Settlement:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">On each Settlement Date, Issuer shall deliver to Buyer a number of Shares equal to the Net Share Amount for such Settlement Date to the account
specified by Buyer and cash in lieu of any fractional shares valued at the Reference
Price for the Valuation Date corresponding to such Settlement Date.  If Buyer
reasonably determines that, for any reason, the Shares deliverable upon Net Share
Settlement would not be immediately freely transferable by Buyer under Rule 144 under
the Securities Act of 1933, as amended (the &#147;<U>Securities Act</U>&#148;), then Buyer may
elect to either (x) accept delivery of such Shares notwithstanding any restriction on
transfer or (y) have the provisions set forth in Section 12(c) below apply.</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>
</TR>
<TR valign="top">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net Share Amount:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">For any Settlement Date, a number of Shares, as calculated by the
Calculation Agent, equal to the product of (i) the number of Warrants being exercised
or deemed exercised on the Exercise Date corresponding to such Settlement Date, <I>and</I>
(ii) the excess, if any, of the Reference Price for the Valuation Date corresponding to
such Settlement Date over the Strike Price for the relevant Transaction (such product,
the &#147;<U>Net Share Settlement Amount</U>&#148;), <I>divided by </I>such Reference Price.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Settlement Currency:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">USD</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Failure to Deliver:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="top">
    <TD ><DIV style="margin-left:15px; text-indent:-15px">Representation and Agreement:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">To the extent Seller is obligated to deliver Shares hereunder,
the provisions of Sections 9.1(c), 9.8, 9.9, 9.11 and 9.12 of the Definitions will be
applicable as if Physical Settlement were applicable to the Transaction;
<U>provided</U> that the Representation and Agreement contained in Section 9.11 of the
Definitions shall be modified by excluding any representations therein relating to
restrictions, obligations, limitations or requirements under applicable securities laws
arising as a result of the fact that Seller is the Issuer of the Shares.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Maximum Delivery Amount:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">As set forth in the Confirmation for such Transaction</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>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6. </B><U><B>Dividends</B></U><B>:</B></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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><I>In respect of any Component:</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&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>
</TR>
<TR valign="top">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dividend Adjustments:</DIV></TD>
    <TD>&nbsp;</TD>
<TD>
Issuer agrees to notify Buyer promptly of the announcement of an
ex-dividend date of any cash dividend by the Issuer.  If an ex-dividend date with
respect to a cash dividend occurs at any time from but excluding the Trade Date for the
Transaction that includes such Component to and including the Expiration Date for such
Component, then in addition to any adjustments as provided under &#147;Share Adjustments&#148;
below, the Calculation Agent shall make such adjustments to the Strike Price, Number of
Warrants and/or Number of Warrants per Component for such Transaction as it deems
appropriate to preserve for the parties the intended economic benefits of such
Transaction.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Calculation Agent shall provide prompt notice of any such adjustments, including a schedule or other
reasonably detailed explanation of the basis for and determination of each adjustment.</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>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7. </B><U><B>Share Adjustments</B></U><B>:</B></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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Method of Adjustment:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Calculation Agent Adjustment.</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>
</TR>
<TR valign="top">
    <TD>New Shares:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">In the definition of New Shares in Section 12.1(i) of the Definitions,
the text in clause (i) thereof shall be deleted in its entirety and replaced with
&#147;issued by an entity or person organized under the laws of the United States, any State
thereof or the District of Columbia and publicly quoted, traded or listed on any of the
New York Stock Exchange, the American Stock Exchange, The NASDAQ Global Select Market
or the NASDAQ Global Market (or their respective successors)&#148;.</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>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8. </B><U><B>Extraordinary Events</B></U><B>:</B></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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consequences of Merger Events:</DIV></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 -->5<!-- /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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Share-for-Share:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Modified Calculation Agent Adjustment</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Share-for Other:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Cancellation and Payment (Calculation Agent Determination)</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>
</TR>
<TR valign="top">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Share-for-Combined:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Cancellation and Payment (Calculation Agent
Determination); <U>provided</U> that Citi may elect, in its commercially reasonable
judgment, Component Adjustment (Calculation Agent Determination)</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Tender Offer:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consequences of Tender Offers:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Share-for-Share:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Modified Calculation Agent Adjustment</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Share-for-Other:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Modified Calculation Agent Adjustment</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>
</TR>
<TR valign="top">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Share-for-Combined:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Modified Calculation Agent Adjustment; <U>provided,</U>
<U>however,</U> that if an event occurs that constitutes both a Tender Offer under
Section 12.1(d) of the Equity Definitions and an Additional Termination Event under
Section 12(f) of this Master Confirmation, Citi may elect, in its commercially
reasonable judgment, whether the provisions of Section 12.3 of the Equity Definitions
or Section 12(f) of this Master Confirmation will apply</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Composition of Combined Consideration:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">                   Not Applicable</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nationalization, Insolvency or Delisting: </DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">            Cancellation and Payment (Calculation Agent
Determination).</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
<TD>
In addition to the provisions of Section 12.6(a)(iii)
of the Definitions, it will also constitute a
Delisting if the Exchange is located in the United
States and the Shares are not immediately re-listed
or re-traded on any of the New York Stock Exchange,
the American Stock Exchange, The NASDAQ Global Select
Market or The NASDAQ Global Market (or their
respective successors); if the Shares are immediately
re-listed or re-traded on any such exchange, such
exchange shall thereafter be deemed to be the
Exchange and the Calculation Agent shall make any
adjustments it deems necessary to the terms of the
Transaction, as if Modified Calculation Agent
Adjustment were applicable to such event.
</TR>
<tr><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Determining Party:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Buyer</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>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9. </B><U><B>Additional Disruption Events</B></U><B>:</B></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>
</TR>
<TR valign="top">
    <TD>Change in Law:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable; <U>provided</U> that Section 12.9(a)(ii) of the Definitions is
hereby amended by (i) replacing the phrase &#147;the interpretation&#148; in the third line
thereof with the phrase &#147;or public announcement of the formal or informal
interpretation&#148; and (ii) immediately following the word &#147;Transaction&#148; in</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="65%">&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">clause (X) thereof, adding the phrase &#147;in the manner
 contemplated by the Hedging Party on the Trade Date&#148;.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Failure to Deliver:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Insolvency Filing:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable, except if Issuer is a debtor (or similar participant) with
 respect to such Insolvency Filing.</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hedging Disruption:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increased Cost of Hedging:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Loss of Stock Borrow:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Maximum Stock Loan Rate:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2.00%</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increased
Cost of Stock Borrow:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Initial Stock Loan Rate:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">0.25%</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hedging Party:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">For all applicable Additional Disruption Events, Buyer</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Determining Party:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">For all applicable Additional Disruption Events, Buyer</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>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10. </B><U><B>Acknowledgements</B></U><B>:</B></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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Non-Reliance:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Agreements and Acknowledgments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Regarding Hedging Activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable</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>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Additional Acknowledgments:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applicable</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11. </B><U><B>Representations, Warranties and Agreements</B></U><B>:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;In connection with this Master Confirmation, each Confirmation, each Transaction to which
a Confirmation relates and any other documentation relating to the Agreement, each party to this
Master Confirmation represents and warrants to, and agrees with, the other party that:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) it is an &#147;accredited investor&#148; as defined in Section&nbsp;2(a)(15)(ii) of the Securities
Act; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) it is an &#147;eligible contract participant&#148; as defined in Section&nbsp;1a(12) of the
Commodity Exchange Act, as amended (the &#147;<U>CEA</U>&#148;), and this Master Confirmation and
each Transaction hereunder are subject to individual negotiation by the parties and have not
been executed or traded on a &#147;trading facility&#148; as defined in Section&nbsp;1a(33) of the CEA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Issuer hereby repeats the representations and warranties of Issuer set forth in Section&nbsp;1
of the Purchase Agreement (the &#147;<U>Purchase Agreement</U>&#148;) dated as of March&nbsp;27, 2008 between,
among others, Issuer and Buyer as a representative of the Initial Purchasers (as defined in the
Purchase Agreement), and, in addition, represents and warrants to, and agrees with, Buyer on the
Trade Date of each Transaction that:
</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;(i) IT UNDERSTANDS THAT SUCH TRANSACTION IS SUBJECT TO COMPLEX RISKS THAT MAY ARISE
WITHOUT WARNING AND MAY AT TIMES BE VOLATILE AND THAT LOSSES MAY OCCUR QUICKLY AND IN
UNANTICIPATED MAGNITUDE AND IS WILLING TO ACCEPT SUCH TERMS AND CONDITIONS AND ASSUME
(FINANCIALLY AND OTHERWISE) SUCH RISKS;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) it is not on the date hereof in possession of material, non-public information
with respect to Issuer or the Shares;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) it is not entering into any Transaction to create, and will not engage in any
other securities or derivatives transactions to create, actual or apparent trading activity
in the Shares (or any security convertible into or exchangeable for Shares) or to raise or
depress or to manipulate the price of the Shares (or any security convertible into or
exchangeable for Shares);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) for any Transaction hereunder, it shall maintain a number of authorized but
unissued Shares that are free from preemptive rights that at all times exceeds the sum of
(x)&nbsp;the Maximum Delivery Amount for each Transaction, <I>plus </I>(y)&nbsp;the aggregate number of
Shares expressly reserved for any other use (including, without limitation, Shares reserved
for issuance upon the exercise of options or convertible debt), whether expressed as caps or
as numbers of Shares reserved or otherwise;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Shares issuable upon exercise of all Warrants (the &#147;<U>Warrant Shares</U>&#148;)
have been duly authorized and, when delivered pursuant to the terms of such Transaction,
shall be validly issued, fully-paid and non-assessable, and such issuance of the Warrant
Shares shall not be subject to any preemptive or similar rights;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Issuer is not, and after giving effect to the transactions contemplated hereby
will not be, an &#147;investment company&#148; as such term is defined in the Investment Company Act
of 1940, as amended;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) without limiting the generality of Section&nbsp;13.1 of the Equity Definitions, Issuer
acknowledges that Citi is not making any representations or warranties with respect to the
treatment of the Transaction under FASB Statements 128, 133, as amended, 149 or 150, EITF
Issue No.&nbsp;00-19, Issue No.&nbsp;01-6 or Issue No.&nbsp;03-6 (or any successor issue statements) or
under FASB&#146;s Liabilities &#038; Equity Project; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) it is not on the date hereof engaged in a distribution, as such term is used in
Regulation&nbsp;M under the Securities Exchange Act of 1934, as amended (the &#147;<U>Exchange
Act</U>&#148;), of any securities of Issuer, other than a distribution meeting the requirements
of the exception set forth in Rules&nbsp;101(b)(10) and 102(b)(7) of Regulation&nbsp;M. Issuer shall
not, until the sixth Scheduled Trading Day immediately following the Trade Date, engage in
any such distribution.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Issuer shall deliver to Citi an opinion of counsel, dated as of the Effective Date for
each Transaction hereunder and reasonably acceptable to Citi in form and substance, with respect to
the matters set forth in Section 3(a) of the Agreement and Sections&nbsp;11(b)(v) and (vi)&nbsp;hereof with
respect to such Transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12. </B><U><B>Miscellaneous</B></U><B>:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Early Termination</U>. The parties agree that Second Method and Loss will apply to
each Transaction under this Master Confirmation as such terms are defined under the Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Alternative Calculations and Issuer Payment on Early Termination and on Certain
Extraordinary Events</U>. If, subject to Section 12(f) below, Issuer owes Buyer any amount in
connection with a Transaction hereunder pursuant to Section&nbsp;12.7 or 12.9 of the Definitions (except
in the case of an Extraordinary
</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">Event in which the consideration or proceeds to be paid to holders of Shares as a result of
such event consists solely of cash) or pursuant to Section&nbsp;6(d)(ii) of the Agreement (except in the
case of an Event of Default in which Issuer is the Defaulting Party or a Termination Event in which
Issuer is the Affected Party, other than an (x)&nbsp;Event of Default of the type described in Section
5(a)(iii), (v), (vi)&nbsp;or (vii)&nbsp;of the Agreement or (y)&nbsp;a Termination Event of the type described in
Section 5(b) of the Agreement that in the case of either (x)&nbsp;or (y)&nbsp;resulted from an event or
events outside Issuer&#146;s control) (an &#147;<U>Issuer Payment Obligation</U>&#148;), Issuer shall have the
right, in its sole discretion, to satisfy any such Issuer Payment Obligation by delivery of
Termination Delivery Units (as defined below) by giving irrevocable telephonic notice to Buyer,
confirmed in writing within one Scheduled Trading Day, between the hours of 9:00 a.m. and 4:00 p.m.
New York time on the Merger Date, the Announcement Date (in the case of Nationalization, Insolvency
or Delisting), Early Termination Date or date of cancellation, as applicable (&#147;<U>Notice of Issuer
Termination Delivery</U>&#148;); <U>provided</U> that (i)&nbsp;if Issuer does not validly elect to satisfy
its Issuer Payment Obligation in Termination Delivery Units, Buyer shall have the right to require
Issuer to satisfy its Issuer Payment Obligation in Termination Delivery Units, notwithstanding
Issuer&#146;s election to the contrary and (ii)&nbsp;Issuer shall not have the right, notwithstanding any
notice to the contrary, to satisfy its Issuer Payment Obligation by Termination Delivery Units
unless on the date of any such notice, Issuer represents to Buyer that, as of such date, it is not
in possession of any material non-public information with respect to itself or the Shares. Within
a commercially reasonable period of time following receipt of a Notice of Issuer Termination
Delivery, Issuer shall deliver to Buyer a number of Termination Delivery Units having a cash value
equal to the amount of such Issuer Payment Obligation (such number of Termination Delivery Units to
be delivered to be determined by the Calculation Agent as the number of whole Termination Delivery
Units that could be sold over a commercially reasonable period of time to generate proceeds equal
to the cash equivalent of such payment obligation, and the date of such delivery, the
&#147;<U>Termination Payment Date</U>&#148;). In addition, if, in the reasonable opinion of counsel to
Issuer or Buyer, for any reason, the Termination Delivery Units deliverable pursuant to this
paragraph (b)&nbsp;would not be immediately freely transferable by Buyer under Rule&nbsp;144 under the
Securities Act, then Buyer may elect either to (x)&nbsp;accept delivery of such Termination Delivery
Units notwithstanding any restriction on transfer or (y)&nbsp;have the provisions set forth in paragraph
(c)&nbsp;below apply. If the provisions set forth in this paragraph are applicable, the provisions of
Sections&nbsp;9.8, 9.9, 9.10, 9.11 (modified as described above) and 9.12 of the Definitions shall be
applicable, except that all references to &#147;Shares&#148; shall be read as references to &#147;Termination
Delivery Units.&#148;
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&#147;<U>Termination Delivery Unit</U>&#148; means (i)&nbsp;in the case of a Termination Event, an Event
of Default or an Extraordinary Event (other than an Insolvency, Nationalization, Merger
Event or Tender Offer), one Share or (ii)&nbsp;in the case of an Insolvency, Nationalization,
Merger Event or Tender Offer, a unit consisting of the number or amount of each type of
property received by a holder of one Share (without consideration of any requirement to pay
cash or other consideration in lieu of fractional amounts of any securities) in such
Insolvency, Nationalization, Merger Event or Tender Offer. If a Termination Delivery Unit
consists of property other than cash or New Shares and Issuer provides irrevocable written
notice to the Calculation Agent on or prior to the Closing Date or the date of such
Termination Event, Event of Default or an Additional Disruption Event, as the case may be,
that it elects to deliver cash, New Shares or a combination thereof (in such proportion as
Issuer designates) in lieu of such other property, the Calculation Agent will replace such
property with cash, New Shares or a combination thereof as components of a Termination
Delivery Unit in such amounts, as determined by the Calculation Agent in its discretion by
commercially reasonable means, as shall have a value equal to the value of the property so
replaced. If such Insolvency, Nationalization, Merger Event or Tender Offer involves a
choice of consideration to be received by holders, such holder shall be deemed to have
elected to receive the maximum possible amount of cash.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>Registration/Private Placement Procedures</U>. (i)&nbsp;With respect to each Transaction,
the following provisions shall apply to the extent provided for above opposite the caption &#147;Net
Share Settlement&#148; in Section&nbsp;5, if Buyer reasonably determines that, for any reason, the Shares
deliverable upon Net Share Settlement would not be immediately freely transferable by Buyer under
Rule&nbsp;144 under the Securities Act, or in paragraph (b)&nbsp;of this Section&nbsp;12. If so applicable, then,
at the election of Issuer by notice to Buyer within one Exchange Business Day after the relevant
delivery obligation arises, but in any event at least one Exchange Business Day prior to the date
on which such delivery obligation is due (if Issuer does not make an election by such date, Issuer
shall be
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">deemed to have made the election described in clause (B)&nbsp;below), either (A)&nbsp;all Shares or
Termination Delivery Units, as the case may be, delivered by Issuer to Buyer shall be, at the time
of such delivery, covered by an effective registration statement of Issuer for immediate resale by
Buyer (such registration statement and the corresponding prospectus (the &#147;<U>Prospectus</U>&#148;)
(including, without limitation, any sections describing the plan of distribution) in form and
content commercially reasonably satisfactory to Buyer) or (B)&nbsp;Issuer shall deliver additional
Shares or Termination Delivery Units, as the case may be, so that the value of such Shares or
Termination Delivery Units, as determined by the Calculation Agent to reflect an appropriate
liquidity discount, equals the value of the number of Shares or Termination Delivery Units that
would otherwise be deliverable if such Shares or Termination Delivery Units were freely tradeable
(without prospectus delivery) upon receipt by Buyer (such value, the &#147;<U>Freely Tradeable
Value</U>&#148;); <U>provided</U> that Issuer may not make the election described in this clause (B)
if, on the date of its election, it has taken, or caused to be taken, any action that would make
unavailable either the exemption pursuant to Section&nbsp;4(2) of the Securities Act for the sale by
Issuer to Buyer (or any affiliate designated by Buyer) of the Shares or the exemption pursuant to
Section&nbsp;4(1) or Section&nbsp;4(3) of the Securities Act for resales of the Shares by Buyer (or any such
affiliate of Buyer). (For the avoidance of doubt, as used in this paragraph (b)&nbsp;only, the term
&#147;Issuer&#148; shall mean the issuer of the relevant securities, as the context shall require.)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;If Issuer makes the election described in clause (c)(i)(A) above:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Buyer (or an Affiliate of Buyer designated by Buyer) shall be afforded a reasonable
opportunity to conduct a due diligence investigation with respect to Issuer that is
customary in scope for underwritten offerings of equity securities and that yields results
that are commercially reasonably satisfactory to Buyer or such Affiliate, as the case may
be, in its discretion; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Buyer (or an Affiliate of Buyer designated by Buyer) and Issuer shall enter into an
agreement (a &#147;<U>Registration Agreement</U>&#148;) on commercially reasonable terms in
connection with the public resale of such Shares or Termination Delivery Units, as the case
may be, by Buyer or such Affiliate substantially similar to underwriting agreements
customary for underwritten offerings of equity securities, in form and substance
commercially reasonably satisfactory to Buyer or such Affiliate and Issuer, which
Registration Agreement shall include, without limitation, provisions substantially similar
to those contained in such underwriting agreements relating to the indemnification of, and
contribution in connection with the liability of, Buyer and its Affiliates and Issuer, shall
provide for the payment by Issuer of all expenses in connection with such resale, including
all registration costs and all fees and expenses of counsel for Buyer, and shall provide for
the delivery of accountants&#146; &#147;comfort letters&#148; to Buyer or such Affiliate with respect to
the financial statements and certain financial information contained in or incorporated by
reference into the Prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;If Issuer makes the election described in clause (c)(i)(B) above:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Buyer (or an Affiliate of Buyer designated by Buyer) and any potential
institutional purchaser of any such Shares or Termination Delivery Units, as the case may
be, from Buyer or such Affiliate identified by Buyer shall be afforded a commercially
reasonable opportunity to conduct a due diligence investigation in compliance with
applicable law with respect to Issuer customary in scope for private placements of equity
securities (including, without limitation, the right to have made available to them for
inspection all financial and other records, pertinent corporate documents and other
information reasonably requested by them), subject to execution by such recipients of
customary confidentiality agreements reasonably acceptable to Issuer;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Buyer (or an Affiliate of Buyer designated by Buyer) and Issuer shall enter into an
agreement (a &#147;<U>Private Placement Agreement</U>&#148;) on commercially reasonable terms in
connection with the private placement of such Shares or Termination Delivery Units, as the
case may be, by Issuer to Buyer or such Affiliate and the private resale of such shares by
Buyer or such Affiliate, substantially similar to private placement purchase agreements
customary for private placements of equity securities, in form and substance commercially
reasonably satisfactory to Buyer and Issuer, which Private Placement Agreement shall
include, without limitation, provisions substantially similar to those contained in such
private placement purchase agreements relating to the indemnification of, and contribution
in connection with the
</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%">liability of, Buyer and its Affiliates and Issuer, shall provide for the payment by
Issuer of all expenses in connection with such resale, including all fees and expenses of
counsel for Buyer, shall contain representations, warranties and agreements of Issuer
reasonably necessary or advisable to establish and maintain the availability of an exemption
from the registration requirements of the Securities Act for such resales, and shall use
best efforts to provide for the delivery of accountants&#146; &#147;comfort letters&#148; to Buyer or such
Affiliate with respect to the financial statements and certain financial information
contained in or incorporated by reference into the offering memorandum prepared for the
resale of such Shares; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) Issuer agrees that any Shares or Termination Delivery Units so delivered to Buyer,
(i)&nbsp;may be transferred by and among Buyer and its affiliates, and Issuer shall effect such
transfer without any further action by Buyer and (ii)&nbsp;after the minimum &#147;holding period&#148;
within the meaning of Rule 144(d) under the Securities Act has elapsed with respect to such
Shares or any securities issued by Issuer comprising such Termination Delivery Units, Issuer
shall promptly remove, or cause the transfer agent for such Shares or securities to remove,
any legends referring to any such restrictions or requirements from such Shares or
securities upon delivery by Buyer (or such affiliate of Buyer) to Issuer or such transfer
agent of seller&#146;s and broker&#146;s representation letters customarily delivered by Buyer in
connection with resales of restricted securities pursuant to Rule&nbsp;144 under the Securities
Act, without any further requirement for the delivery of any certificate, consent,
agreement, opinion of counsel, notice or any other document, any transfer tax stamps or
payment of any other amount or any other action by Buyer (or such affiliate of Buyer).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <U>Make-whole Shares</U>. If (x)&nbsp;Issuer elects to deliver Termination Delivery Units
pursuant to &#147;Alternative Calculations and Issuer Payment on Early Termination and on Certain
Extraordinary Events&#148; above or (y)&nbsp;Issuer makes the election described in clause (i)(B) of
paragraph (c)&nbsp;of this Section&nbsp;12, then in either case Buyer or its affiliate may sell (which sale
shall be made in a commercially reasonable manner) such Shares or Termination Delivery Units, as
the case may be, during a period (the &#147;<U>Resale Period</U>&#148;) commencing on the Exchange Business
Day following delivery of such Shares or Termination Delivery Units, as the case may be, and ending
on the Exchange Business Day on which Buyer completes the sale of all such Shares or Termination
Delivery Units, as the case may be, or a sufficient number of Shares or Termination Delivery Units,
as the case may be, so that the realized net proceeds of such sales exceed the amount of the Issuer
Payment Obligation (in the case of clause (x), or in the case that both clause (x)&nbsp;and clause (y)
apply) or the Freely Tradeable Value (in the case that only clause (y)&nbsp;applies) (such amount of the
Issuer Payment Obligation or Freely Tradeable Value, as the case may be, the &#147;<U>Required
Proceeds</U>&#148;). If any of such delivered Shares or Termination Delivery Units remain after such
realized net proceeds exceed the Required Proceeds, Buyer shall return such remaining Shares or
Termination Delivery Units to Issuer. If the Required Proceeds exceed the realized net proceeds
from such resale, Issuer shall transfer to Buyer by the open of the regular trading session on the
Exchange on the Exchange Business Day immediately following the last day of the Resale Period the
amount of such excess (the &#147;<U>Additional Amount</U>&#148;) in cash or in a number of additional Shares
or Termination Delivery Units (&#147;<U>Make-whole Shares</U>&#148;) in an amount that, based on the
Relevant Price on the last day of the Resale Period (as if such day was the &#147;Valuation Date&#148; for
purposes of computing such Relevant Price), has a dollar value equal to the Additional Amount. The
Resale Period shall continue to enable the sale of the Make-whole Shares in the manner contemplated
by this Section&nbsp;12(d). This provision shall be applied successively until the Additional Amount is
equal to zero, subject to Section&nbsp;12(e).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <U>Limitations on Settlement by Issuer</U>. Notwithstanding anything herein or in the
Agreement to the contrary, in no event shall Issuer be required to deliver Shares in connection
with any Transaction in excess of the Maximum Delivery Amount for such Transaction. Issuer
represents and warrants (which shall be deemed to be repeated on each day that the Transaction is
outstanding) that the Maximum Delivery Amount for all Transactions hereunder is equal to or less
than the number of authorized but unissued Shares of the Issuer that are not reserved for future
issuance in connection with transactions in the Shares (other than all Transactions hereunder). In
the event Issuer shall not have delivered the full number of Shares otherwise deliverable as a
result of this Section 12(e) (the resulting deficit, the &#147;<U>Deficit Shares</U>&#148;), Issuer shall,
at its option, either (A)&nbsp;pay the cash value of such Deficit Shares as determined by Calculation
Agent on the related Settlement Date or (B)&nbsp;use its best efforts to obtain a shareholder vote
authorizing the issuance of such Deficit Shares in accordance with the rules and regulations of the
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">New York Stock Exchange and, upon obtaining such approval, promptly deliver such Deficit
Shares in settlement of such Transactions. Issuer shall notify Buyer prior to the Exchange Business
Day immediately preceding the first Expiration Date for such Transaction of its election in respect
of any such Deficit Shares. For the avoidance of doubt, to the extent that Issuer elects to use its
best efforts to obtain shareholder approval pursuant to clause (B)&nbsp;and, notwithstanding having used
such best efforts shareholder approval was not obtained, Issuer shall be discharged from the
obligation to deliver such Deficit Shares.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <U>Certain Corporate Transactions</U>. Upon the consummation of any of the following
events, each a &#147;<U>Fundamental Change</U>&#148;, Buyer shall have the right to designate each such
event an Additional Termination Event and designate an Early Termination Date pursuant to Section
6(b) of the Agreement with respect to which the Transaction is the sole Affected Transaction and
Issuer is the sole Affected Party:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;any Person (as defined below) acquires beneficial ownership, directly or indirectly,
through a purchase, merger or other acquisition transaction or series of transactions, of shares of
Issuer&#146;s Capital Stock (as defined below) entitling the Person to exercise 50% or more of the total
voting power of all shares of Issuer&#146;s Capital Stock entitled to vote generally in elections of
directors, other than an acquisition by Issuer or any of Issuer&#146;s Subsidiaries (as defined below)
provided that a Fundamental Change shall not occur as a result of this clause (1)&nbsp;if, in such
purchase, merger, acquisition or other transaction, all or substantially all of the Common Stock
(as defined below) is exchanged for or converted into cash, securities or other property, in which
case clause (2)&nbsp;below shall apply (in addition to, if applicable, clauses (3), (4)&nbsp;or (5)&nbsp;below);
or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Issuer (i)&nbsp;merges or consolidates with or into any other Person, another Person merges
with or into Issuer, or Issuer conveys, sells, transfers or leases all or substantially all of
Issuer&#146;s assets to another Person (excluding a pledge of securities issued by any of Issuer&#146;s
Subsidiaries, but not excluding any transfer or other disposition resulting from the foreclosure or
other exercise of creditors&#146; remedies pursuant to such pledge) or (ii)&nbsp;engages in any
recapitalization, reclassification or other acquisition transaction or series of transactions in
which all or substantially all of the Common Stock is exchanged for or converted into cash,
securities or other property, in each case other than a merger or consolidation:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;pursuant to which the holders of the Common Stock immediately prior to the transaction
have the entitlement to exercise, directly or indirectly, 50% or more of the voting power of all
shares of Capital Stock entitled to vote generally in the election of directors of either (x)&nbsp;the
continuing or surviving corporation immediately after the transaction or (y)&nbsp;the corporation that
directly or indirectly owns 100% of the Capital Stock of such continuing or surviving corporation;
or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;that does not result in a reclassification, conversion, exchange or cancellation of the
outstanding shares of Common Stock; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;which is effected solely to change Issuer&#146;s jurisdiction of incorporation and results in a
reclassification, conversion or exchange of outstanding shares of Common Stock solely into shares
of common stock of the surviving entity; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;at any time Issuer&#146;s Continuing Directors (as defined below) do not constitute a majority
of the Board of Directors (as defined below) of Issuer (or, if applicable, a successor Person to
Issuer); or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;Issuer is liquidated or dissolved or holders of the Common Stock approve any plan or
proposal for Issuer&#146;s liquidation or dissolution; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;if shares of Common Stock, or shares of any other Capital Stock which constitute Reference
Property (as defined below), are not listed for trading on any United States national securities
exchange.
</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;&#147;<U>Board of Directors</U>&#148; means, with respect to any Person, either the board of directors
of such Person or any duly authorized committee of that board.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Capital Stock</U>&#148; means any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock and limited liability company interests and,
with respect to partnerships, partnership interests (whether general or limited) and any other
interest or participation that confers on a Person the right to receive a share of the profits and
losses of, or distributions of assets of, such partnership.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Common Stock</U>&#148; means the Shares as they exist on the date of the Indenture (as defined
below) or any other shares of Capital Stock of Issuer into which the Common Stock shall be
reclassified or changed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Continuing Directors</U>&#148; means (i)&nbsp;individuals who on the date of original issuance of
the Notes (as defined below) were members of the Board of Directors of Issuer and (ii)&nbsp;any new
directors whose election to the Board of Directors of Issuer or whose nomination for election by
Issuer&#146;s stockholders was approved by at least a majority of Issuer&#146;s directors then still in
office (or a duly constituted committee thereof), either who were directors on the date of original
issuance of the Notes or whose election or nomination for election was previously so approved.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Conversion Rate</U>&#148; means, initially 48.7805 Shares per $1,000 principal amount of
Notes, subject to adjustment as set forth in the Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Corporation</U>&#148; means a corporation, association, company, limited partnership,
joint-stock company or business trust.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Indenture</U>&#148; means the Indenture between the Issuer and The Bank of New York as
Trustee, dated April&nbsp;2, 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Merger Event</U>&#148; means (i)&nbsp;any reclassification or change of the outstanding Shares
(other than a change in par value, or from par value to no par value, or from no par value to par
value, or as a result of a split, subdivision or combination), (ii)&nbsp;a consolidation, binding share
exchange, recapitalization, reclassification, merger, combination or other similar event, or (iii)
any sale or conveyance to another Person of all or substantially all of the property and assets of
Issuer (excluding a pledge of securities issued by any of the Issuer&#146;s Subsidiaries but, for the
avoidance of doubt, not excluding any foreclosure thereon), in any case as a result of which
holders of Shares shall be entitled to receive cash, securities or other property or assets with
respect to or in exchange for such Shares.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Notes</U>&#148; means the convertible notes issued by the Issuer pursuant to the terms of the
Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Person</U>&#148; means any individual, corporation, partnership, limited liability company,
joint venture, trust, unincorporated organization or government or any 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;&#147;<U>Reference Property</U>&#148; means, at the effective time of a Merger Event, pursuant to the
terms of the Indenture, the kind and amount of cash, securities or other property or assets that a
holder of a number of Shares equal to the Conversion Rate immediately prior to such transaction
would have owned or been entitled to receive.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Subsidiary</U>&#148; means a Corporation more than 50% of the outstanding voting stock or
other voting interests of which is owned, directly or indirectly, by Issuer or by one or more other
Subsidiaries, or by Issuer and one or more other Subsidiaries. For the purposes of this
definition, &#147;voting stock or other voting interests&#148; means stock or other voting interests which
ordinarily have voting power for the election of directors or comparable governing body, whether at
all times or only so long as no senior class of stock or other interests has such voting power by
reason of any contingency.
</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;(g) <U>Set-Off and Netting</U>. Neither party shall set-off or net amounts due to either
party with respect to any Transaction hereunder against amounts due to either party from the other
party whether arising under the Agreement, this Master Confirmation or any other agreement between
the parties hereto, by operation of law or otherwise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <U>Status of Claims in Bankruptcy</U>. Buyer acknowledges and agrees that this Master
Confirmation, together with any Confirmation, is not intended to convey to Buyer rights with
respect to any Transaction that are senior to the claims of common stockholders in any U.S.
bankruptcy proceedings of Issuer; <U>provided</U> that nothing herein shall limit or shall be
deemed to limit Buyer&#146;s right to pursue remedies in the event of a breach by Issuer of its
obligations and agreements with respect to any Transaction; and <U>provided</U>, <U>further</U>,
that nothing herein shall limit or shall be deemed to limit Buyer&#146;s rights in respect of any
transactions other than the Transactions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <U>No Collateral</U>. Notwithstanding any provision of this Master Confirmation, any
Confirmation or the Agreement, or any other agreement between the parties, to the contrary, the
obligations of Issuer under the Transactions are not secured by any collateral. Without limiting
the generality of the foregoing, if this Master Confirmation, the Agreement or any other agreement
between the parties includes an ISDA Credit Support Annex or other agreement pursuant to which
Issuer collateralizes obligations to Buyer, then the obligations of Issuer hereunder shall not be
considered to be obligations under such Credit Support Annex or other agreement pursuant to which
Issuer collateralizes obligations to Buyer, and any Transactions hereunder shall be disregarded for
purposes of calculating any Exposure, Market Value or similar term thereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <U>Assignment of Share Delivery to Affiliates</U>. Buyer has the right to assign any or
all of its rights and obligations under a Transaction to deliver or accept delivery of Shares to
any of its Affiliates; <U>provided</U> that Issuer shall have recourse to Buyer in the event of
failure by the assignee to perform any of such obligations hereunder. Notwithstanding the
foregoing, the recourse to Buyer shall be limited to recoupment of Issuer&#146;s monetary damages and
Issuer hereby waives any right to seek specific performance by Buyer of its obligations hereunder.
Such failure after any applicable grace period shall be deemed to be an Additional Termination
Event, such Transaction shall be the only Affected Transaction and Buyer shall be the only Affected
Party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <U>Limit on Beneficial Ownership</U>. Notwithstanding any other provisions hereof, Buyer
may not exercise any Warrant hereunder, Automatic Exercise shall not apply with respect thereto,
and any delivery pursuant to Section 12(b) shall not be made, to the extent (but only to the
extent) that the receipt of any Shares upon such exercise or delivery would result in Buyer
directly or indirectly (i)&nbsp;beneficially owning (as such term is defined for purposes of Section
13(d) of the Exchange Act) at any time in excess of 8.0% of the outstanding Shares or (ii)&nbsp;own
&#147;control shares&#148; (as such term is used in Section&nbsp;3-701(d) of the Maryland Control Share
Acquisition Act) in excess of 8.0% of the outstanding Shares. Any purported delivery hereunder
shall be void and have no effect to the extent (but only to the extent) that such delivery would
result in Buyer directly or indirectly (i)&nbsp;so beneficially owning in excess of 8.0% of the
outstanding Shares or (ii)&nbsp;so own &#147;control shares&#148; (as such term is used in Section&nbsp;3-701(d) of the
Maryland Control Share Acquisition Act) in excess of 8.0% of the outstanding Shares. If any
delivery owed to Buyer hereunder is not made, in whole or in part, as a result of this provision,
Issuer&#146;s obligation to make such delivery shall not be extinguished and Issuer shall make such
delivery as promptly as practicable after, but in no event later than one Business Day after, Buyer
gives notice to Issuer that such delivery would not result in Buyer directly or indirectly (i)&nbsp;so
beneficially owning in excess of 8.0% of the outstanding Shares or (ii)&nbsp;so own &#147;control shares&#148; (as
such term is used in Section&nbsp;3-701(d) of the Maryland Control Share Acquisition Act) in excess of
8.0% of the outstanding Shares.<U> </U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) &#091;<U>Reserved</U>&#093;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <U>Transfer</U>. Notwithstanding any provision of the Agreement to the contrary, Buyer
may, subject to applicable law, freely transfer and assign all of its right and obligations under
any Transaction without the consent of Seller to persons who are broker-dealers, banks, investment
advisors, investment banks or other persons
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">in the derivatives industry. If at any time at which (1)&nbsp;Buyer&#146;s &#147;beneficial ownership&#148;
(within the meaning of Section&nbsp;13 of the Exchange Act and rules promulgated thereunder) exceeds
8.0% of Seller&#146;s outstanding Shares, (2)&nbsp;the Units Equity Percentage (as defined below) is at or
exceeds 14.5%, or (3)&nbsp;the quotient of (x)&nbsp;the number of &#147;control shares&#148; (as such term is used in
Section&nbsp;3-701(d) of the Maryland Control Share Acquisition Act) owned by Buyer divided by (y)&nbsp;the
number of Seller&#146;s outstanding Shares (the &#147;<B>Control Share Percentage</B>&#148;) exceeds 8.0%, Buyer, in its
discretion, is unable to effect a transfer or assignment to a third party after using commercially
reasonable efforts on pricing terms reasonably acceptable to Buyer and within a time period
reasonably acceptable to Buyer such that (1)&nbsp;Buyer&#146;s &#147;beneficial ownership&#148; (within the meaning of
Section&nbsp;13 of the Exchange Act and rules promulgated thereunder) is reduced to 8.0% of Seller&#146;s
outstanding Shares or less, (2)&nbsp;the Units Equity Percentage is reduced to 14.5% or less or (3)&nbsp;the
Control Share Percentage is reduced to 8.0% or less, Buyer may designate any Scheduled Trading Day
as an Early Termination Date with respect to a portion (the &#147;<B>Terminated Portion</B>&#148;) of the
Transaction, such that (1)&nbsp;its &#147;beneficial ownership&#148; following such partial termination will be
equal to or less than 8.0%, (2)&nbsp;the Units Equity Percentage following such partial termination will
be less than 14.5% or (3)&nbsp;the Control Share Percentage following such partial termination will be
equal to or less than 8.0%. In the event that Buyer so designates an Early Termination Date with
respect to a portion of the Transaction, a payment or delivery shall be made pursuant to Section&nbsp;6
of the Agreement and Section 11(b) of this Master Confirmation as if (i)&nbsp;an Early Termination Date
had been designated in respect of a Transaction having terms identical to the Terminated Portion of
the Transaction, (ii)&nbsp;Seller shall be the sole Affected Party with respect to such partial
termination and (iii)&nbsp;such portion of the Transaction shall be the only Terminated Transaction. The
&#147;<U>Units Equity Percentage</U>&#148; as of any day is the fraction the numerator of which is the
aggregate Number of Shares for all Transactions hereunder and the denominator of which is the
number of Shares outstanding on such day.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <U>Severability; Illegality</U>. If compliance by either party with any provision of a
Transaction would be unenforceable or illegal, (i)&nbsp;the parties shall negotiate in good faith to
resolve such unenforceability or illegality in a manner that preserves the economic benefits of the
transactions contemplated hereby and (ii)&nbsp;the other provisions of the Transaction shall not be
invalidated, but shall remain in full force and effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <U>Waiver of Trial by Jury</U>. EACH OF ISSUER AND BUYER HEREBY IRREVOCABLY WAIVES (ON
ITS OWN BEHALF AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS STOCKHOLDERS) ALL
RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT
OR OTHERWISE) ARISING OUT OF OR RELATING TO ANY TRANSACTION HEREUNDER OR THE ACTIONS OF BUYER OR
ITS AFFILIATES IN THE NEGOTIATION, PERFORMANCE OR ENFORCEMENT HEREOF.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <U>Confidentiality</U>. Notwithstanding any provision in this Master Confirmation, any
Confirmation or the Agreement, in connection with Section&nbsp;1.6011-4 of the Treasury Regulations, the
parties hereby agree that each party (and each employee, representative, or other agent of such
party) may disclose to any and all persons, without limitation of any kind, the U.S. tax treatment
and U.S. tax structure of the Transaction and all materials of any kind (including opinions or
other tax analyses) that are provided to such party relating to such U.S. tax treatment and U.S.
tax structure, other than any information for which nondisclosure is reasonably necessary in order
to comply with applicable securities laws.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <U>Securities Contract; Swap Agreement</U>. The parties hereto intend for: (i)&nbsp;each
Transaction hereunder to be a &#147;securities contract&#148; as defined in Section&nbsp;741(7) of the Bankruptcy
Code (Title 11 of the United States Code, as amended) (the &#147;<U>Bankruptcy Code</U>&#148;) and a &#147;swap
agreement&#148; as defined in Section&nbsp;101(53B) of the Bankruptcy Code, and the parties hereto to be
entitled to the protections afforded by, among other Sections, Sections&nbsp;362(b)(6), 362(b)(27),
362(o), 546(e), 546(g), 546(j), 548(d)(2), 555, 560 and 561 of the Bankruptcy Code; (ii)&nbsp;the
Agreement to be a &#147;master netting agreement&#148; as defined in Section&nbsp;101(38A) of the Bankruptcy Code;
(iii)&nbsp;a party&#146;s right to liquidate, terminate or accelerate any Transaction, offset, net or net out
termination values, payment amounts or other transfer obligations, and to exercise any other
remedies upon the occurrence of any Event of Default or Termination Event under the Agreement with
respect to the other party or any Extraordinary Event that results in the termination or
cancellation of any Transaction to constitute a &#147;contractual right&#148; within the meaning of
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sections&nbsp;555, 560 and 561 of the Bankruptcy Code; (iv)&nbsp;any cash, securities or other property
provided as performance assurance, credit support or collateral with respect to each Transaction to
constitute &#147;margin payments&#148; and &#147;transfers&#148; &#147;under&#148; or &#147;in connection with&#148; each Transaction and
the Agreement, in each case within the meaning of the Bankruptcy Code; and (v)&nbsp;all payments or
deliveries for, under or in connection with each Transaction, all payments for the Shares and the
transfer of such Shares to constitute &#147;settlement payments&#148; and &#147;transfers&#148; &#147;under&#148; or &#147;in
connection with&#148; each Transaction and the Agreement, in each case within the meaning of the
Bankruptcy Code.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <U>Additional Termination Events</U>. (i)&nbsp;If at any time Buyer reasonably determines
that it is advisable to terminate a portion of the Transaction so that Buyer&#146;s related hedging
activities will comply with applicable securities laws, rules, regulations, self-regulatory
requirements or related policies or procedures (whether or not such requirements, policies or
procedures are imposed by law or have been voluntarily adopted by Buyer), an Additional Termination
Event shall occur in respect of which (1)&nbsp;Issuer shall be the sole Affected Party and (2)&nbsp;the
Transaction shall be the sole Affected Transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;If Issuer defaults on the Notes, and such default results in an acceleration of the Notes
pursuant to the terms of the Indenture, an Additional Termination Event shall occur in respect of
which (1)&nbsp;Issuer shall be the sole Affected Party and (2)&nbsp;the Transaction shall be the sole
Affected Transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) <U>Effectiveness</U>. If, prior to the Effective Date for any Transaction, Buyer
reasonably determines that it is advisable to cancel such Transaction because of concerns that
Buyer&#146;s related hedging activities could be viewed as not complying with applicable securities
laws, rules or regulations, such Transaction shall be cancelled and shall not become effective, and
neither party shall have any obligation to the other party in respect of such Transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) <U>Share Deliveries</U>. Issuer acknowledges and agrees that, to the extent the holder of
this Warrant is not then an affiliate and has not been an affiliate for 90&nbsp;days (it being
understood that Buyer will not be considered an affiliate under this paragraph solely by reason of
its receipt of Shares pursuant to this Transaction), and otherwise satisfies all holding period and
other requirements of Rule&nbsp;144 of the Securities Act applicable to it, any delivery of Shares or
Termination Delivery Units hereunder at any time after 6&nbsp;months from the Trade Date (or 1&nbsp;year from
the Trade Date if, at such time, informational requirements of Rule 144(c) are not satisfied with
respect to the Issuer) shall be eligible for resale under Rule&nbsp;144 of the Securities Act and Issuer
agrees to promptly remove, or cause the transfer agent for such Shares or Termination Delivery
Units, to remove, any legends referring to any restrictions on resale under the Securities Act from
the Shares or Termination Delivery Units. Issuer further agrees that any delivery of Shares or
Termination Delivery Units prior to the date that is 6&nbsp;months from the Trade Date (or 1&nbsp;year from
the Trade Date if, at such time, informational requirements of Rule 144(c) are not satisfied with
respect to the Issuer), may be transferred by and among Buyer and its affiliates and Issuer shall
effect such transfer without any further action by Buyer. Notwithstanding anything to the contrary
herein, Issuer agrees that any delivery of Shares or Termination Delivery Units shall be effected
by book-entry transfer through the facilities of the Depositary Trust Corporation (&#147;DTC&#148;), or any
successor depositary, if at the time of delivery, such class of Shares or class of Termination
Delivery Units is in book-entry form at DTC or such successor depositary. Notwithstanding anything
to the contrary herein, to the extent the provisions of Rule&nbsp;144 of the Securities Act or any
successor rule are amended, or the applicable interpretation thereof by the Securities and Exchange
Commission or any court change after the Trade Date, the agreements of Issuer herein shall be
deemed modified to the extent necessary, in the opinion of outside counsel of Issuer, to comply
with Rule&nbsp;144 of the Securities Act, as in effect at the time of delivery of the relevant Shares or
Termination Delivery Units.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) <U>Right to Extend</U>. Buyer may postpone, in whole or in part, any Expiration Date or
any other date of valuation or delivery with respect to some or all of the relevant Warrants (in
which event the Calculation Agent shall make appropriate adjustments to the number of Warrants per
Component with respect to one or more Expiration Dates) if Buyer determines, in its commercially
reasonable judgment, that such extension is reasonably necessary or appropriate to preserve Buyer&#146;s
hedging or hedge unwind activity hereunder in light of
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /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">existing liquidity conditions or to enable Buyer to effect purchases of Shares in connection
with its hedging, hedge unwind or settlement activity hereunder in a manner that would, if Buyer
were Issuer or an affiliated purchaser of Issuer, be in compliance with applicable legal,
regulatory or self-regulatory requirements, or with related policies and procedures applicable to
Buyer.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <U>Amendments to the Equity Definitions</U>:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;Section&nbsp;11.2(a) of the Equity Definitions is hereby amended by deleting the words &#147;a
diluting or concentrative&#148; and replacing them with the words &#147;a material&#148;; and adding the phrase
&#147;or Warrants&#148; at the end of the sentence.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;Section&nbsp;11.2(c) of the Equity Definitions is hereby amended by (x)&nbsp;replacing the words &#147;a
diluting or concentrative&#148; with &#147;an&#148;, (y)&nbsp;adding the phrase &#147;or Warrants&#148; after the words &#147;the
relevant Shares&#148; in the same sentence and (z)&nbsp;deleting the phrase &#147;(provided that no adjustments
will be made to account solely for changes in volatility, expected dividends, stock loan rate or
liquidity relative to the relevant Shares)&#148; and replacing it with the phrase &#147;(and, for the
avoidance of doubt, adjustments may be made to account solely for changes in volatility, expected
dividends, stock loan rate or liquidity relative to the relevant Shares).&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;Section&nbsp;11.2(e)(vii) of the Equity Definitions is hereby amended by deleting the words &#147;a
diluting or concentrative&#148; and replacing them with the word &#147;a material&#148;; and adding the phrase &#147;or
Warrants&#148; at the end of the sentence.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;Section&nbsp;12.6(a)(ii) of the Equity Definitions is hereby amended by (1)&nbsp;deleting from the
fourth line thereof the word &#147;or&#148; after the word &#147;official&#148; and inserting a comma therefor, and (2)
deleting the semi-colon at the end of subsection (B)&nbsp;thereof and inserting the following words
therefor &#147;or (C)&nbsp;at Buyer&#146;s option, the occurrence of any of the events specified in Section
5(a)(vii) (1)&nbsp;through (9)&nbsp;of the ISDA Master Agreement with respect to that Issuer.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;Section&nbsp;12.9(b)(iv) of the Equity Definitions is hereby amended by:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) deleting (1)&nbsp;subsection (A)&nbsp;in its entirety, (2)&nbsp;the phrase &#147;or (B)&#148; following
subsection (A)&nbsp;and (3)&nbsp;the phrase &#147;in each case&#148; in subsection (B); 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;(y) deleting the phrase &#147;neither the Non-Hedging Party nor the Lending Party lends
Shares in the amount of the Hedging Shares or&#148; in the penultimate sentence.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;Section&nbsp;12.9(b)(v) of the Equity Definitions is hereby amended by:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) adding the word &#147;or&#148; immediately before subsection &#147;(B)&#148; and deleting the comma at
the end of subsection (A); 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;(y) (1)&nbsp;deleting subsection (C)&nbsp;in its entirety, (2)&nbsp;deleting the word &#147;or&#148; immediately
preceding subsection (C)&nbsp;and (3)&nbsp;deleting the penultimate sentence in its entirety and
replacing it with the sentence &#147;The Hedging Party will determine the Cancellation Amount
payable by one party to the other.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) <U>Amendment</U>. If, pursuant to the Purchase Agreement, the Initial Purchasers (as
defined in the Purchase Agreement) exercise their right to purchase additional Notes (the
&#147;<U>Additional Notes</U>&#148;), then on the closing date for the purchase and sale of the Additional
Notes, (i)&nbsp;the aggregate Number of Warrants will be automatically increased, and each Component
will be proportionately increased, by additional Warrants (the &#147;<U>Additional Warrants</U>&#148;) in
proportion to the increase in aggregate principal amount represented by such Additional Notes
purchased by the Initial Purchaser affiliated with Buyer; and (ii)&nbsp;Buyer shall pay to Issuer, on
the closing date for such Additional Notes, an additional premium in USD equal to the product of
the Additional Warrants and a
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /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">fraction, the numerator of which is the Premium and the denominator of which is the aggregate
Number of Warrants (prior to any such increase).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>13. </B><U><B>Addresses for Notice</B></U><B>:</B>
</DIV>

<DIV align="rIGHT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="83%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">If to Citi:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Citibank, N.A.</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">390 Greenwich Street</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">New York, NY 10013</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">Attention: Equity Derivatives</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">Facsimile: (212)&nbsp;723-8328</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">Telephone: (212)&nbsp;723-7357</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">with a copy to:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Citibank, N.A.</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">250 West Street, 10th Floor</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">New York, NY 10013</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">Attention: GCIB Legal Group&#151;Derivatives</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">Facsimile: (212)&nbsp;816-7772</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">Telephone: (212)&nbsp;816-2211</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">If to Issuer:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">PHH Corporation</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">3000 Leadenhall Road,</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">Mt. Laurel New Jersey 08054</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">Fax: (856)&nbsp;917-4278</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">Attention: Treasurer</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">with a copy to:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Wm. David Chalk, Esq.,</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">DLA Piper US LLP</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">6225 Smith Avenue</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">Baltimore, Maryland 21209-3600,</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">Fax: (410)&nbsp;580-3120</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14. </B><U><B>Accounts for Payment</B></U><B>:</B>
</DIV>

<DIV align="RIGHT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="83%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">To Citi:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Citibank, N.A.</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">ABA #021000089</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">DDA 00167679</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">Ref: Equity Derivatives</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">To Issuer:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">JP Morgan Chase</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">ABA 021 000 021</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">PHH Corporation</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">Account number 323018688</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>15. </B><U><B>Delivery Instructions</B></U><B>:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise directed in writing, any Share to be delivered hereunder shall be
delivered as follows:
</DIV>

<DIV align="RIGHT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="83%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">To Citi:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Citi to advise.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

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

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


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Yours sincerely,<BR>
<BR>
CITIBANK, N.A.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Jason Shrednick
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Jason Shrednick&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Authorized Signatory&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">Confirmed as of the
date first above written:<BR>
<BR>
PHH CORPORATION<BR>
&nbsp;</TD>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Mark E. Johnson
&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Mark E. Johnson&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Vice President &#038; Treasurer&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

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

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

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


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

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


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>CONFIRMATION</U>
</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="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;27, 2008</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">To:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">PHH Corporation (&#147;<u>Issuer</u>&#148;)</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Facsimile:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(856) 917-4278</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Attention:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Treasurer</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">From:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Citibank, N.A. (&#147;Citi&#148;)</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Facsimile:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(212) 615-8985</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Transaction Reference Number:
</DIV>

<DIV align="LEFT" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purpose of this communication
(this &#147;<U>Confirmation</U>&#148;) is to set forth the terms and
conditions of the above-referenced Transaction entered into on the Trade Date specified below
between you and us. This Confirmation supplements, forms a part of, and is subject to the Master
Terms and Conditions for Warrants Issued by PHH Corporation, between Citibank, N.A. and PHH
Corporation, dated as of March&nbsp;27, 2008 (as amended from time to time, the &#147;<U>Master Confirmation</U>&#148;).
</DIV>

<DIV align="LEFT" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1. The definitions and provisions
contained in the Definitions (as such term is defined in the
Master Confirmation) and in the Master Confirmation are incorporated into this Confirmation. In
the event of any inconsistency between those definitions and provisions and this Confirmation, this
Confirmation will govern.
</DIV>

<DIV align="LEFT" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The particular Transaction to which this Confirmation relates shall have the following<BR>
terms:
</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="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="58%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Trade Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March&nbsp;27, 2008</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Effective Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April&nbsp;2, 2008</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Strike Price:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">USD 27.20</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Premium:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">USD 6,265,800</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Premium Payment Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Effective Date.</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Maximum Delivery Amount:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">3,246,000 Shares (as adjusted for stock splits, stock
dividends, recapitalizations and similar events)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For each Component of the Transaction, the Number of Warrants and Expiration Date are as set forth
below.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->A-1<!-- /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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Component Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Number of Warrants</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Expiration Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">1.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;16, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">2.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;17, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">3.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;18, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">4.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;19, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">5.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;20, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">6.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;23, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">7.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;24, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">8.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;25, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">9.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;26, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">10.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;27, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">11.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;30, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">12.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;31, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">13.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;1, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">14.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;2, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">15.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;3, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">16.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;6, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">17.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;7, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">18.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;8, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">19.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;9, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">20.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;10, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">21.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;13, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">22.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;14, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">23.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;15, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">24.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;16, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">25.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;17, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">26.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;20, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">27.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;21, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">28.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;22, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">29.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;23, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">30.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;24, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">31.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;27, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">32.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;28, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">33.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;29, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">34.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;30, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">35.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;31, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">36.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;4, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">37.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;5, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">38.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;6, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">39.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;7, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">40.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;10, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">41.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;11, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">42.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;12, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">43.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;13, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">44.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;14, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">45.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;17, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">46.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;18, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">47.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;19, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">48.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;20, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">49.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;21, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">50.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;24, 2012</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->A-2<!-- /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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Component Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Number of Warrants</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Expiration Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">51.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;25, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">52.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;26, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">53.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;27, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">54.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">September&nbsp;28, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">55.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;1, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">56.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;2, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">57.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;3, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">58.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;4, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">59.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;5, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">60.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;8, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">61.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;9, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">62.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;10, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">63.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;11, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">64.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;12, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">65.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;15, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">66.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;16, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">67.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;17, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">68.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;18, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">69.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;19, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">70.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;22, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">71.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;23, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">72.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;24, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">73.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;25, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">74.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;26, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">75.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;29, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">76.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;30, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">77.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">October&nbsp;31, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">78.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;1, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">79.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;2, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">80.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;5, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">81.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;6, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">82.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;7, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">83.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;8, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">84.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;9, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">85.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;12, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">86.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;13, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">87.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;14, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">88.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;15, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">89.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;16, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">90.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;19, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">91.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;20, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">92.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;21, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">93.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;23, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">94.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;26, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">95.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;27, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">96.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;28, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">97.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;29, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">98.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November&nbsp;30, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">99.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;3, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">100.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;4, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">101.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;5, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">102.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;6, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">103.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;7, 2012</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->A-3<!-- /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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Component Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Number of Warrants</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Expiration Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">104.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;10, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">105.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;11, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">106.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;12, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">107.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;13, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">108.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;14, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">109.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;17, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">110.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;18, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">111.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;19, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">112.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;20, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">113.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;21, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">114.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;24, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">115.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;26, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">116.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;27, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">117.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;28, 2012</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">118.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;31, 2012</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center" valign="top">119.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,829
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">January&nbsp;2, 2013</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">120.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">26,862
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">January&nbsp;3, 2013</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->A-4<!-- /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="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Issuer hereby agrees (a)&nbsp;to check this Confirmation promptly upon receipt so that errors or
discrepancies can be promptly identified and rectified and (b)&nbsp;to confirm that the foregoing
correctly sets forth the terms of the agreement between us with respect to the particular
Transaction to which this Confirmation relates, by manually signing this Confirmation and providing
any other information requested herein or in the Master Confirmation and immediately returning an
executed copy to Confirmation Unit via 212-615-8985. Hard copies should be returned to Citibank,
N.A., 333 West 34th Street, 2nd Floor, New York, New York 10001, Attention: Confirmation Unit.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Yours sincerely,<BR>

<BR>
CITIBANK, N.A.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="3" align="left">Confirmed as of the
date first above written:<BR>

<BR>
PHH CORPORATION<BR>
&nbsp;</TD>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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