QuickLinks -- Click here to rapidly navigate through this document

Exhibit 10.13

        FORM OF

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

TRIUMPH GROUP, INC.

--------------------------------------------------------------------------------

NOTE PURCHASE AGREEMENT

--------------------------------------------------------------------------------

Dated November 21, 2002

$80,000,000 6.06% Series A Senior Notes due December 2, 2012
$70,000,000 5.59% Series B Senior Notes due December 2, 2012

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

TABLE OF CONTENTS

Section

--------------------------------------------------------------------------------

   
  Page

--------------------------------------------------------------------------------

1.   AUTHORIZATION OF NOTES   1
2.
 
SALE AND PURCHASE OF NOTES
 
1
3.
 
CLOSING
 
2
4.
 
CONDITIONS TO CLOSING
 
2
 
 
4.1.
 
Representations and Warranties
 
2     4.2.   Performance; No Default   2     4.3.   Compliance Certificates   2
    4.4.   Opinions of Counsel   3     4.5.   Purchase Permitted By Applicable
Law, etc   3     4.6.   Sale of Other Notes   3     4.7.   Payment of Special
Counsel Fees   3     4.8.   Private Placement Number   3     4.9.   Changes in
Corporate Structure   4     4.10.   Subsidiary Guaranty   4     4.11.  
Amendment of Credit Agreement   4     4.12.   Proceedings and Documents   4
5.
 
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
 
4
 
 
5.1.
 
Organization; Power and Authority
 
4     5.2.   Authorization, etc   5     5.3.   Disclosure   5     5.4.  
Organization and Ownership of Shares of Subsidiaries   5     5.5.   Financial
Statements   6     5.6.   Compliance with Laws, Other Instruments, etc   6    
5.7.   Governmental Authorizations, etc   6     5.8.   Litigation; Observance of
Statutes and Orders   7     5.9.   Taxes   7     5.10.   Title to Property;
Leases   7     5.11.   Licenses, Permits, etc   7     5.12.   Compliance with
ERISA   8     5.13.   Private Offering by the Company   9     5.14.   Use of
Proceeds; Margin Regulations   9     5.15.   Existing Indebtedness   9     5.16.
  Foreign Assets Control Regulations, etc   10     5.17.   Status under Certain
Statutes   10     5.18.   Anti-Terrorism Order; USA Patriot Act   10     5.19.  
Environmental Matters   10
6.
 
REPRESENTATIONS OF THE PURCHASER
 
11
 
 
6.1.
 
Purchase for Investment
 
11     6.2.   Source of Funds   11
7.
 
INFORMATION AS TO COMPANY
 
13
 
 
7.1.
 
Financial and Business Information
 
13     7.2.   Officer's Certificate   15

2

--------------------------------------------------------------------------------

    7.3.   Inspection   16
8.
 
PREPAYMENT OF THE NOTES
 
16
 
 
8.1.
 
Required Prepayments
 
16     8.2.   Optional Prepayments with Make-Whole Amount   16     8.3.  
Allocation of Partial Prepayments   17     8.4.   Maturity; Surrender, etc   17
    8.5.   Purchase of Notes   17     8.6.   Make-Whole Amount   18     8.7.  
Change in Control   19
9.
 
AFFIRMATIVE COVENANTS
 
21
 
 
9.1.
 
Compliance with Law
 
21     9.2.   Insurance   21     9.3.   Maintenance of Properties   21     9.4.
  Payment of Taxes   22     9.5.   Corporate Existence, etc   22     9.6.   Pari
Passu   22     9.7.   Additional Subsidiary Guarantors   23
10.
 
NEGATIVE COVENANTS
 
23
 
 
10.1.
 
Transactions with Affiliates
 
23     10.2.   Merger, Consolidation, etc   23     10.3.   Liens   24     10.4.
  Sale-and-Leaseback Transactions   24     10.5.   Fixed Charges Coverage Ratio
  24     10.6.   Leverage Ratio   24     10.7.   Sale of Assets, etc   24    
10.8.   Disposal of Ownership of Subsidiary   25     10.9.   Restricted
Investments   25     10.10.   Subsidiary Debt   25
11.
 
EVENTS OF DEFAULT
 
26
12.
 
REMEDIES ON DEFAULT, ETC
 
28
 
 
12.1.
 
Acceleration
 
28     12.2.   Other Remedies   28     12.3.   Rescission   28     12.4.   No
Waivers or Election of Remedies, Expenses, etc   29
13.
 
REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES
 
29
 
 
13.1.
 
Registration of Notes
 
29     13.2.   Transfer and Exchange of Notes   29     13.3.   Replacement of
Notes   30
14.
 
PAYMENTS ON NOTES
 
30
 
 
14.1.
 
Place of Payment
 
30     14.2.   Home Office Payment   30

3

--------------------------------------------------------------------------------

15.
 
EXPENSES, ETC
 
31
 
 
15.1.
 
Transaction Expenses
 
31     15.2.   Survival   31
16.
 
SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT
 
31
17.
 
AMENDMENT AND WAIVER
 
32
 
 
17.1.
 
Requirements
 
32     17.2.   Solicitation of Holders of Notes   32     17.3.   Binding Effect,
etc   33     17.4.   Notes held by Company, etc   33
18.
 
NOTICES
 
33
19.
 
REPRODUCTION OF DOCUMENTS
 
33
20.
 
CONFIDENTIAL INFORMATION
 
34
21.
 
SUBSTITUTION OF PURCHASER
 
35
22.
 
MISCELLANEOUS
 
35
 
 
22.1.
 
Successors and Assigns
 
35     22.2.   Payments Due on Non-Business Days   35     22.3.   Severability  
35     22.4.   Construction   35     22.5.   Counterparts   36     22.6.  
Governing Law   36

4

--------------------------------------------------------------------------------

Schedules & Exhibits

Schedule A   —   Purchaser Schedule Schedule B   —   Defined Terms Schedule 4.9
  —   Changes in Corporate Structure Schedule 5.3   —   Disclosure Schedule 5.4
  —   Subsidiaries Schedule 5.5   —   Financial Statements Schedule 5.8   —  
Litigation Schedule 5.11   —   Licenses, Permits, etc. Schedule 5.14   —   Use
of Proceeds Schedule 5.15   —   Indebtedness Schedule 5.19   —   Environmental
Matters Schedule 10.3, Part 1   —   Liens Securing Debt Schedule 10.3, Part 2  
—   Judgment Liens Schedule 10.9   —   Investments Schedule 10.10   —  
Subsidiary Debt Exhibit 1.1   —   Form of Series A Note Exhibit 1.2   —   Form
of Series B Note Exhibit 4.3(a)   —   Form of Officer's Certificate Exhibit
4.3(b)   —   Form of Secretary's Certificate—Company Exhibit 4.4(a)   —   Form
of Opinion of General Counsel for the Company and the Subsidiary Guarantors
Exhibit 4.4(b)   —   Form of Opinion of Special Counsel for the Purchasers
Exhibit 4.4(c)   —   Form of Opinion of Special Counsel for the Company and the
Subsidiary Guarantors Exhibit 4.10(a)   —   Form of Subsidiary Guaranty Exhibit
4.10(b)   —   Form of Secretary's Certificate—Subsidiary Guarantors Exhibit
4.11(a)   —   Form of Credit Agreement Amendment (Second Amendment to Loan
Documents) Exhibit 4.11(b)   —   Form of Credit Agreement Amendment (Third
Amendment to Loan Documents)

5

--------------------------------------------------------------------------------

Triumph Group, Inc.
1255 Drummers Lane
Wayne, Pennsylvania 19087

6.06% Series A Senior Notes due December 2, 2012
5.59% Series B Senior Notes due December 2, 2012

November 21, 2002

Separately addressed to each of the Purchasers
    listed in the attached Schedule A:

Ladies and Gentlemen:

        Triumph Group, Inc., a Delaware corporation (the "Company"), agrees with
you as follows:

1. AUTHORIZATION OF NOTES.

        The Company will authorize the issue and sale of $80,000,000 aggregate
principal amount of its 6.06% Series A Senior Notes due December 2, 2012 (the
"Series A Notes") and $70,000,000 aggregate principal amount of its 5.59%
Series B Senior Notes due December 2, 2012 (the "Series B Notes" and together
with the Series A Notes, collectively, the "Notes", such term to include any
such notes issued in substitution therefor pursuant to Section 13 of this
Agreement or the Other Agreements (as hereinafter defined)). The Notes shall
rank pari passu with the Company's other unsecured senior Indebtedness,
including, without limitation, Indebtedness under the Credit Agreement, as in
effect from time to time. The Series A Notes and the Series B Notes shall be
substantially in the forms set out in Exhibit 1.1 and Exhibit 1.2, respectively,
with such changes therefrom, if any, as may be approved by you and the Company.
Certain capitalized terms used in this Agreement are defined in Schedule B;
references to a "Schedule" or an "Exhibit" are, unless otherwise specified, to a
Schedule or an Exhibit attached to this Agreement.

2. SALE AND PURCHASE OF NOTES.

        Subject to the terms and conditions of this Agreement, the Company will
issue and sell to you and you will purchase from the Company, at the Closing
provided for in Section 3, Notes in the principal amount specified opposite your
name in Schedule A at the purchase price of 100% of the principal amount
thereof. Contemporaneously with entering into this Agreement, the Company is
entering into separate Note Purchase Agreements (the "Other Agreements")
identical with this Agreement with each of the other purchasers named in
Schedule A (the "Other Purchasers"), providing for the sale at such Closing to
each of the Other Purchasers of Notes in the principal amount specified opposite
its name in Schedule A. Your obligation hereunder and the obligations of the
Other Purchasers under the Other Agreements are several and not joint
obligations and you shall have no obligation under any Other Agreement and no
liability to any Person for the performance or non-performance by any Other
Purchaser thereunder. This Agreement and the Other Agreements shall constitute
one single agreement for purposes of New York General Obligations Law
Section 5-501.

3. CLOSING.

        The sale and purchase of the Notes to be purchased by you and the Other
Purchasers shall occur at the offices of Bingham McCutchen LLP, 399 Park Avenue,
New York, NY 10022, at 10:00 a.m., New York time, at a closing (the "Closing")
on December 2, 2002 or on such other Business Day thereafter on or prior to
December 2, 2002 as may be agreed upon by the Company and you and the Other

6

--------------------------------------------------------------------------------

Purchasers. At the Closing the Company will deliver to you the Notes to be
purchased by you in the form of a single Note (or such greater number of Notes
in denominations of at least $100,000 as you may request) dated the date of the
Closing and registered in your name (or in the name of your nominee), against
delivery by you to the Company or its order of immediately available funds in
the amount of the purchase price therefor by wire transfer of immediately
available funds for the account of the Company to account number 1005588987 at
PNC Bank, N.A., Pittsburgh, Pennsylvania, ABA Number 043000096. If at the
Closing the Company shall fail to tender such Notes to you as provided above in
this Section 3, or any of the conditions specified in Section 4 shall not have
been fulfilled to your satisfaction, you shall, at your election, be relieved of
all further obligations under this Agreement, without thereby waiving any rights
you may have by reason of such failure or such nonfulfillment.

4. CONDITIONS TO CLOSING.

        Your obligation to purchase and pay for the Notes to be sold to you at
the Closing is subject to the fulfillment to your satisfaction, prior to or at
the Closing, of the following conditions:

        4.1.    Representations and Warranties.

        The representations and warranties of the Company in this Agreement
shall be correct when made and at the time of the Closing.

        4.2.    Performance; No Default.

        The Company shall have performed and complied with all agreements and
conditions contained in this Agreement required to be performed or complied with
by it prior to or at the Closing and after giving effect to the issue and sale
of the Notes (and the application of the proceeds thereof as contemplated by
Schedule 5.14) no Default or Event of Default shall have occurred and be
continuing.

        4.3.    Compliance Certificates.

        (a) Officer's Certificate. The Company shall have delivered to you an
Officer's Certificate, dated the date of the Closing, substantially in the form
of Exhibit 4.3(a), certifying that the conditions specified in Sections 4.1, 4.2
and 4.9 have been fulfilled.

        (b) Secretary's Certificate. The Company shall have delivered to you a
certificate, substantially in the form of Exhibit 4.3(b), certifying as to the
resolutions attached thereto and other corporate proceedings relating to the
authorization, execution and delivery of the Notes and the Agreements.

        4.4.    Opinions of Counsel.

        You shall have received opinions in form and substance satisfactory to
you, dated the date of the Closing (a) from the general counsel of the Company
and the Subsidiary Guarantors, substantially in the form set forth in
Exhibit 4.4(a) and covering such other matters incident to the transactions
contemplated hereby as you or your counsel may reasonably request (and the
Company hereby instructs its general counsel to deliver such opinion to you),
(b) from Bingham McCutchen LLP, your special counsel in connection with such
transactions, substantially in the form set forth in Exhibit 4.4(b) and covering
such other matters incident to such transactions as you may reasonably request
and (c) from the special counsel of the Company and the Subsidiary Guarantors,
substantially in the form set forth in Exhibit 4.4(c) and covering such other
matters incident to the transactions contemplated hereby as you or your counsel
may reasonably request (and the Company hereby instructs its special counsel to
deliver such opinion to you).

        4.5.    Purchase Permitted By Applicable Law, etc.

        On the date of the Closing your purchase of Notes shall (a) be permitted
by the laws and regulations of each jurisdiction to which you are subject,
without recourse to provisions (such as Section 1405(a)(8) of the New York
Insurance Law) permitting limited investments by insurance

7

--------------------------------------------------------------------------------

companies without restriction as to the character of the particular investment,
(b) not violate any applicable law or regulation (including, without limitation,
Regulation T, U or X of the Board of Governors of the Federal Reserve System)
and (c) not subject you to any tax, penalty or liability under or pursuant to
any applicable law or regulation, which law or regulation was not in effect on
the date hereof. If requested by you, you shall have received an Officer's
Certificate certifying as to such matters of fact as you may reasonably specify
to enable you to determine whether such purchase is so permitted.

        4.6.    Sale of Other Notes.

        Contemporaneously with the Closing the Company shall sell to the Other
Purchasers and the Other Purchasers shall purchase the Notes to be purchased by
them at the Closing as specified in Schedule A.

        4.7.    Payment of Special Counsel Fees.

        Without limiting the provisions of Section 15.1, the Company shall have
paid on or before the Closing the fees, charges and disbursements of your
special counsel referred to in Section 4.4 to the extent reflected in a
statement of such counsel rendered to the Company at least one Business Day
prior to the Closing.

        4.8.    Private Placement Number.

        A Private Placement Number issued by Standard & Poor's CUSIP Service
Bureau (in cooperation with the Securities Valuation Office of the National
Association of Insurance Commissioners) shall have been obtained for the Notes.

        4.9.    Changes in Corporate Structure.

        Except as specified in Schedule 4.9, neither the Company nor any
Subsidiary Guarantor shall have changed its jurisdiction of incorporation or
organization, as the case may be, or been a party to any merger or consolidation
and shall have succeeded to all or any substantial part of the liabilities of
any other entity, at any time following the date of the most recent financial
statements referred to in Schedule 5.5.

        4.10.    Subsidiary Guaranty.

        The Company shall have delivered to you the following:

        (a)    a guaranty (as may be amended from time to time, the "Subsidiary
Guaranty") from the Subsidiary Guarantors, substantially in the form of
Exhibit 4.10(a), executed and delivered by each of the Company's Subsidiaries
and dated the date hereof; and

        (b)    a certificate, substantially in the form of Exhibit 4.10(b), of
each Subsidiary Guarantor certifying as to the resolutions attached thereto and
other corporate proceedings relating to the authorization, execution and
delivery of the Subsidiary Guaranty.

        4.11.    Amendment of Credit Agreement.

        The Company shall have delivered fully executed, true and correct copies
of the Credit Agreement Amendments pursuant to which the Company shall be
permitted to enter into and perform all obligations under the transactions
contemplated by the Financing Documents.

        4.12.    Proceedings and Documents.

        All corporate and other proceedings in connection with the transactions
contemplated by this Agreement and all documents and instruments incident to
such transactions shall be satisfactory to you and your special counsel, and you
and your special counsel shall have received all such counterpart originals or
certified or other copies of such documents as you or they may reasonably
request.

8

--------------------------------------------------------------------------------

5.    REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

        The Company represents and warrants to you that:

        5.1.    Organization; Power and Authority.

        The Company and each of its Subsidiaries is a corporation duly
organized, validly existing and in good standing under the laws of its
jurisdiction of incorporation, and is duly qualified as a foreign corporation
and is in good standing in each jurisdiction in which such qualification is
required by law, other than those jurisdictions as to which the failure to be so
qualified or in good standing would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. The Company and each
of its Subsidiaries has the corporate power and authority to own or hold under
lease the properties it purports to own or hold under lease, to transact the
business it transacts and proposes to transact, to execute and deliver, in the
case of the Company, this Agreement and the Other Agreements and the Notes, and
in the case of the Subsidiary Guarantors, the Subsidiary Guaranty, and to
perform the provisions hereof and thereof.

        5.2.    Authorization, etc.

        This Agreement and the Other Agreements and the Notes have been duly
authorized by all necessary corporate action on the part of the Company, and
this Agreement constitutes, and upon execution and delivery thereof each Note
will constitute, a legal, valid and binding obligation of the Company
enforceable against the Company in accordance with its terms, except as such
enforceability may be limited by (a) applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of
creditors' rights generally and (b) general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).
The Subsidiary Guaranty has been duly authorized by all necessary corporate
action on the part of each Subsidiary Guarantor and constitutes a legal, valid
and binding obligation of each Subsidiary Guarantor enforceable against such
Subsidiary Guarantor in accordance with its terms, except as such enforceability
may be limited by (x) applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws affecting the enforcement of creditors' rights
generally and (y) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law).

        5.3.    Disclosure.

        The Company, through its agent, PNC Capital Markets, Inc., has delivered
to you and each Other Purchaser a copy of a Confidential Offering Memorandum,
dated October 2002 (the "Memorandum"), relating to the transactions contemplated
hereby. Except as disclosed in Schedule 5.3, this Agreement, the Memorandum, the
documents, certificates or other writings identified in Schedule 5.3 and the
financial statements listed in Schedule 5.5, taken as a whole, do not contain
any untrue statement of a material fact or omit to state any material fact
necessary to make the statements therein not misleading in light of the
circumstances under which they were made. Except as disclosed in the Memorandum
or as expressly described in Schedule 5.3, or in one of the documents,
certificates or other writings identified therein, or in the financial
statements listed in Schedule 5.5, since March 31, 2002, there has been no
change in the financial condition, operations, business or properties of the
Company or any of its Subsidiaries except changes that individually or in the
aggregate would not reasonably be expected to have a Material Adverse Effect.

        5.4.    Organization and Ownership of Shares of Subsidiaries.

        (a)    Schedule 5.4 is (except as noted therein) a complete and correct
list of the Company's Subsidiaries, showing, as to each Subsidiary, the correct
name thereof, the jurisdiction of its organization, and the percentage of shares
of each class of its capital stock or similar equity interests outstanding owned
by the Company and each other Subsidiary.

9

--------------------------------------------------------------------------------

        (b)    All of the outstanding shares of capital stock or similar equity
interests of each Subsidiary shown in Schedule 5.4 as being owned by the Company
and its Subsidiaries have been validly issued, are fully paid and nonassessable
and are owned by the Company or another Subsidiary free and clear of any Lien
(except as otherwise disclosed in Schedule 5.4).

        (c)    Each Subsidiary identified in Schedule 5.4 is a corporation or
other legal entity duly organized, validly existing and in good standing under
the laws of its jurisdiction of organization, and is duly qualified as a foreign
corporation or other legal entity and is in good standing in each jurisdiction
in which such qualification is required by law, other than those jurisdictions
as to which the failure to be so qualified or in good standing would not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. Each such Subsidiary has the corporate or other power and
authority to own or hold under lease the properties it purports to own or hold
under lease and to transact the business it transacts and proposes to transact.

        5.5. Financial Statements.

        The Company has delivered to each Purchaser copies of the financial
statements, of the Company and its Subsidiaries, listed on Schedule 5.5. All of
said financial statements (including in each case the related schedules and
notes) fairly present in all material respects the consolidated financial
position of the Company and its Subsidiaries as of the respective dates
specified in such Schedule and the consolidated results of their operations and
cash flows for the respective periods so specified and have been prepared in
accordance with GAAP consistently applied throughout the periods involved except
as set forth in the notes thereto (subject, in the case of any interim financial
statements, to normal year-end adjustments).

        5.6.    Compliance with Laws, Other Instruments, etc.

        The execution, delivery and performance by the Company of this Agreement
and the Notes and by the Subsidiary Guarantors of the Subsidiary Guaranty will
not (a) contravene, result in any breach of, or constitute a default under, or
result in the creation of any Lien in respect of any property of the Company or
any Subsidiary under, any indenture, mortgage, deed of trust, loan, purchase or
credit agreement, lease, corporate charter or by-laws, or any other Material
agreement or instrument to which the Company or any Subsidiary is bound or by
which the Company or any Subsidiary or any of their respective properties may be
bound or affected, (b) conflict with or result in a breach of any of the terms,
conditions or provisions of any order, judgment, decree, or ruling of any court,
arbitrator or Governmental Authority applicable to the Company or any Subsidiary
or (c) violate any provision of any statute or other rule or regulation of any
Governmental Authority applicable to the Company or any Subsidiary.

10

--------------------------------------------------------------------------------

5.7.    Governmental Authorizations, etc.

        No consent, approval or authorization of, or registration, filing or
declaration with, any Governmental Authority is required in connection with the
execution, delivery or performance by the Company of this Agreement or the Notes
or by the Subsidiary Guarantors of the Subsidiary Guaranty.

5.8.    Litigation; Observance of Statutes and Orders.

        (a)    Except as disclosed in Schedule 5.8, there are no actions, suits
or proceedings pending or, to the knowledge of the Company, threatened against
or affecting the Company or any Subsidiary or any property of the Company or any
Subsidiary in any court or before any arbitrator of any kind or before or by any
Governmental Authority that, individually or in the aggregate, would reasonably
be expected to have a Material Adverse Effect.

        (b)    Neither the Company nor any Subsidiary is in default under any
order, judgment, decree or ruling of any court, arbitrator or Governmental
Authority or is in violation of any applicable law, ordinance, rule or
regulation (including without limitation Environmental Laws) of any Governmental
Authority, which default or violation, individually or in the aggregate, would
reasonably be expected to have a Material Adverse Effect.

5.9.    Taxes.

        The Company and its Subsidiaries have filed all income tax returns that
are required to have been filed in any jurisdiction, and have paid all taxes
shown to be due and payable on such returns and all other taxes and assessments
payable by them, to the extent such taxes and assessments have become due and
payable and before they have become delinquent, except for any taxes and
assessments (a) the amount of which is not individually or in the aggregate
Material or (b) the amount, applicability or validity of which is currently
being contested in good faith by appropriate proceedings and with respect to
which the Company or a Subsidiary, as the case may be, has established adequate
reserves in accordance with GAAP. The Federal income tax liabilities of the
Company and its Subsidiaries have been determined and paid for all fiscal years
up to and including the fiscal year ended March 31, 2002.

5.10.    Title to Property; Leases.

        The Company and its Subsidiaries have good and sufficient title to their
respective Material properties, including all such properties reflected in the
most recent audited balance sheet referred to in Section 5.5 or purported to
have been acquired by the Company or any Subsidiary after said date (except as
sold or otherwise disposed of in the ordinary course of business), in each case
free and clear of Liens prohibited by this Agreement, except for those defects
in title and Liens that, individually or in the aggregate, would not have a
Material Adverse Effect. All Material leases are valid and subsisting and are in
full force and effect in all material respects.

5.11.    Licenses, Permits, etc.

        Except as disclosed in Schedule 5.11, the Company and its Subsidiaries
own or possess all licenses, permits, franchises, authorizations, patents,
copyrights, service marks, trademarks and trade names, or rights thereto, that
are Material, without known conflict with the rights of others, except for those
conflicts that, individually or in the aggregate, would not have a Material
Adverse Effect.

5.12.    Compliance with ERISA.

        (a)    The Company and each ERISA Affiliate have operated and
administered each Plan in compliance with all applicable laws except for such
instances of noncompliance as have not resulted in and could not reasonably be
expected to result in a Material Adverse Effect. Neither

11

--------------------------------------------------------------------------------

the Company nor any ERISA Affiliate has incurred any liability pursuant to Title
I or IV of ERISA or the penalty or excise tax provisions of the Code relating to
employee benefit plans (as defined in Section 3 of ERISA), and no event,
transaction or condition has occurred or exists that would reasonably be
expected to result in the incurrence of any such liability by the Company or any
ERISA Affiliate, or in the imposition of any Lien on any of the rights,
properties or assets of the Company or any ERISA Affiliate, in either case
pursuant to Title I or IV of ERISA or to such penalty or excise tax provisions
or to Section 401(a)(29) or 412 of the Code, other than such liabilities or
Liens as would not be individually or in the aggregate Material.

        (b)    The present value of the aggregate benefit liabilities under each
of the Plans (other than Multiemployer Plans), determined as of the end of such
Plan's most recently ended plan year on the basis of the actuarial assumptions
specified for funding purposes in such Plan's most recent actuarial valuation
report, did not exceed the aggregate current value of the assets of such Plan
allocable to such benefit liabilities by more than $1,000,000 in the case of any
single Plan and by more than $2,000,000 in the aggregate for all Plans. The term
"benefit liabilities" has the meaning specified in section 4001 of ERISA and the
terms "current value" and "present value" have the meaning specified in
Section 3 of ERISA.

        (c)    The Company and its ERISA Affiliates have not incurred withdrawal
liabilities (and are not subject to contingent withdrawal liabilities) under
Section 4201 or 4204 of ERISA in respect of Multiemployer Plans that
individually or in the aggregate are Material.

        (d)    The expected postretirement benefit obligation (determined as of
the last day of the Company's most recently ended fiscal year in accordance with
Financial Accounting Standards Board Statement No. 106, without regard to
liabilities attributable to continuation coverage mandated by section 4980B of
the Code) of the Company and its Subsidiaries is not Material.

        (e)    The execution and delivery of this Agreement and the Subsidiary
Guaranty and the issuance and sale of the Notes hereunder will not involve any
transaction that is subject to the prohibitions of Section 406 of ERISA or in
connection with which a tax could be imposed pursuant to
Section 4975(c)(1)(A)-(D) of the Code. The representation by the Company in the
first sentence of this Section 5.12(e) is made in reliance upon and subject to
(i) the accuracy of your representation in Section 6.2 as to the sources of the
funds to be used to pay the purchase price of the Notes to be purchased by you
and (ii) the assumption, made solely for the purpose of making such
representation, that Department of Labor Interpretive Bulletin 75-2 with respect
to prohibited transactions remains valid in the circumstances of the
transactions contemplated herein.

5.13.    Private Offering by the Company.

        Neither the Company nor anyone acting on its behalf has offered the
Notes or any similar securities for sale to, or solicited any offer to buy any
of the same from, or otherwise approached or negotiated in respect thereof with,
any person other than you, the Other Purchasers and not more than 35 other
Institutional Investors, each of which has been offered the Notes at a private
sale for investment. Neither the Company nor anyone acting on its behalf has
taken, or will take, any action that would subject the issuance or sale of the
Notes to the registration requirements of Section 5 of the Securities Act.

5.14.    Use of Proceeds; Margin Regulations.

        The Company will apply the proceeds of the sale of the Notes as set
forth in Schedule 5.14. No part of the proceeds from the sale of the Notes
hereunder will be used, directly or indirectly, for the purpose of buying or
carrying any margin stock within the meaning of Regulation U of the Board of
Governors of the Federal Reserve System (12 CFR 221), or for the purpose of
buying or carrying or trading in any securities under such circumstances as to
involve the Company in a violation of

12

--------------------------------------------------------------------------------

Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a
violation of Regulation T of said Board (12 CFR 220). Margin stock does not
constitute more than 1% of the value of the consolidated assets of the Company
and its Subsidiaries and the Company does not have any present intention that
margin stock will constitute more than 5% of the value of such assets. As used
in this Section, the terms "margin stock" and "purpose of buying or carrying"
shall have the meanings assigned to them in said Regulation U.

5.15.    Existing Indebtedness.

        Except as described therein, Schedule 5.15 sets forth a complete and
correct list of all outstanding Indebtedness of the Company and its Subsidiaries
as of November 21, 2002, since which date there has been no Material change in
the amounts, interest rates, sinking funds, installment payments or maturities
of the Indebtedness of the Company or its Subsidiaries. Neither the Company nor
any Subsidiary is in default and no waiver of default is currently in effect, in
the payment of any principal or interest on any Indebtedness of the Company or
such Subsidiary and no event or condition exists with respect to any
Indebtedness of the Company or any Subsidiary the outstanding principal amount
of which exceeds $10,000,000 that would permit (or that with notice or the lapse
of time, or both, would permit) one or more Persons to cause such Indebtedness
to become due and payable before its stated maturity or before its regularly
scheduled dates of payment. The obligations of the Company under the Notes are
senior to any outstanding Indebtedness (other than Existing Seller Debt) of the
Company or any Subsidiary which is in any manner subordinated in right of
payment or security with respect to any other Indebtedness of the Company.

5.16.    Foreign Assets Control Regulations, etc.

        Neither the sale of the Notes by the Company hereunder nor its use of
the proceeds thereof will violate the Trading with the Enemy Act, as amended, or
any of the foreign assets control regulations of the United States Treasury
Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling
legislation or executive order relating thereto.

5.17.    Status under Certain Statutes.

        Neither the Company nor any Subsidiary is subject to regulation under
the Investment Company Act of 1940, as amended, the Public Utility Holding
Company Act of 1935, as amended, the Interstate Commerce Act, as amended, or the
Federal Power Act, as amended.

5.18.    Anti-Terrorism Order; USA Patriot Act.

        Neither the Company nor any of its Subsidiaries is a Person or entity
described in Section 1 of the Anti-Terrorism Order or described in the
Department of the Treasury Rule, and, to the best knowledge and belief of the
Company, neither the Company nor any of its Subsidiaries engages in any dealings
or transactions, or is otherwise associated, with any such Persons or entities.
Each of the Company and Subsidiary Guarantors is in compliance with the USA
Patriot Act.

5.19.    Environmental Matters

        Except as disclosed on Schedule 5.19:

        (a)    Neither the Company nor any Subsidiary has received any
Environmental Complaint from any Governmental Authority or private Person
alleging that such Company or Subsidiary or, with respect to its property, any
prior or subsequent owner of such property is a potentially responsible party
under the Comprehensive Environmental Response, Compensation and Liability Act,
42 U.S.C. § 9601, et seq., and the Company has no reason to believe that such an
Environmental Complaint is reasonably likely to be received. There are no
pending or, to the

13

--------------------------------------------------------------------------------

Company's knowledge, threatened Environmental Complaints relating to the Company
or any Subsidiary or, to the Company's knowledge with respect to property of the
Company or any Subsidiary, any prior or subsequent owner of such property
pertaining to, or arising out of, any Environmental Conditions.

        (b)    There are no circumstances at, on or under the property of the
Company or any Subsidiary that constitute a breach of or non-compliance with any
of the Environmental Laws, and there are no Environmental Conditions at, on or
under such property or, to the knowledge of the Company, at, on or under
adjacent property, that prevent compliance with the Environmental Laws at the
property of the Company or any Subsidiary.

        (c)    Neither the property of the Company or any Subsidiary nor any
structures, improvements, equipment, fixtures, activities or facilities thereon
or thereunder contain or use Regulated Substances except in compliance with
Environmental Laws. There are no processes, facilities, operations, equipment or
any other activities at, on or under such property, or, to the knowledge of the
Company, at, on or under adjacent property, that currently result in the release
or threatened release of Regulated Substances onto the property of the Company
or any Subsidiary, except to the extent that such releases or threatened
releases are not a breach of or otherwise not a violation of the Environmental
Laws or are not likely to result in a Material Adverse Effect.

        (d)    The Company and each Subsidiary has all permits, licenses,
authorizations, plans and approvals necessary under the Environmental Laws for
the conduct of the business of the Company and its Subsidiaries as presently
conducted. The Company and each Subsidiary has submitted all notices, reports
and other filings required by the Environmental Laws to be submitted to a
Governmental Authority which pertain to past and current operations on the
property of the Company or any Subsidiary.

        (e)    All past and present on-site generation, storage, processing,
treatment, recycling, reclamation, disposal or other use or management of
Regulated Substances at, on, or under the property of the Company or any
Subsidiary and all off-site transportation, storage, processing, treatment,
recycling, reclamation, disposal or other use or management of Regulated
Substances has been done by the Company and its Subsidiaries in accordance with
the Environmental Laws.

6.    REPRESENTATIONS OF THE PURCHASER.

6.1.    Purchase for Investment.

        You represent that you are purchasing the Notes for your own account or
for one or more separate accounts maintained by you or for the account of one or
more pension or trust funds and not with a view to the distribution thereof,
provided that the disposition of your or their property shall at all times be
within your or their control. You understand that the Notes have not been
registered under the Securities Act and may be resold only if registered
pursuant to the provisions of the Securities Act or if an exemption from
registration is available, except under circumstances where neither such
registration nor such an exemption is required by law, and that the Company is
not required to register the Notes.

6.2.    Source of Funds.

        You represent that at least one of the following statements is an
accurate representation as to each source of funds (a "Source") to be used by
you to pay the purchase price of the Notes to be purchased by you hereunder:

        (a)    the Source is an "insurance company general account" (as the term
is defined in the United States Department of Labor's Prohibited Transaction
Exemption ("PTE") 95-60) in respect

14

--------------------------------------------------------------------------------

of which the reserves and liabilities (as defined by the annual statement for
life insurance companies approved by the National Association of Insurance
Commissioners (the "NAIC Annual Statement")) for the general account contract(s)
held by or on behalf of any employee benefit plan together with the amount of
the reserves and liabilities for the general account contract(s) held by or on
behalf of any other employee benefit plans maintained by the same employer (or
affiliate thereof as defined in PTE 95-60) or by the same employee organization
in the general account do not exceed 10% of the total reserves and liabilities
of the general account (exclusive of separate account liabilities) plus surplus
as set forth in the NAIC Annual Statement filed with your state of domicile; or

        (b)    the Source is a separate account that is maintained solely in
connection with your fixed contractual obligations under which the amounts
payable, or credited, to any employee benefit plan (or its related trust) that
has any interest in such separate account (or to any participant or beneficiary
of such plan (including any annuitant)) are not affected in any manner by the
investment performance of the separate account; or

        (c)    the Source is either (i) an insurance company pooled separate
account, within the meaning of PTE 90-1 or (ii) a bank collective investment
fund, within the meaning of the PTE 91-38 and, except as disclosed by you to the
Company in writing pursuant to this clause (c), no employee benefit plan or
group of plans maintained by the same employer or employee organization
beneficially owns more than 10% of all assets allocated to such pooled separate
account or collective investment fund; or

        (d)    the Source constitutes assets of an "investment fund" (within the
meaning of Part V of the QPAM Exemption) managed by a "qualified professional
asset manager" or "QPAM" (within the meaning of Part V of the QPAM Exemption),
no employee benefit plan's assets that are included in such investment fund,
when combined with the assets of all other employee benefit plans established or
maintained by the same employer or by an affiliate (within the meaning of
Section V(c)(1) of the QPAM Exemption) of such employer or by the same employee
organization and managed by such QPAM, exceed 20% of the total client assets
managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption
are satisfied, neither the QPAM nor a person controlling or controlled by the
QPAM (applying the definition of "control" in Section V(e) of the QPAM
Exemption) owns a 5% or more interest in the Company and (i) the identity of
such QPAM and (ii) the names of all employee benefit plans whose assets are
included in such investment fund have been disclosed to the Company in writing
pursuant to this clause (d); or

        (e)    the Source constitutes assets of a "plan(s)" (within the meaning
of Section IV of PTE 96-23 (the "INHAM Exemption")) managed by an "in-house
asset manager" or "INHAM" (within the meaning of Part IV of the INHAM
exemption), the conditions of Parts I(a), (g) and (h) of the INHAM Exemption are
satisfied, neither the INHAM nor a person controlling or controlled by the INHAM
(applying the definition of "control" in Section IV(h) of the INHAM Exemption)
owns a 5% or more interest in the Company and (i) the identity of such INHAM and
(ii) the name(s) of the employee benefit plan(s) whose assets constitute the
Source have been disclosed to the Company in writing pursuant to this
clause (e); or

        (f)    the Source is a governmental plan; or

15

--------------------------------------------------------------------------------

        (g) the Source is one or more employee benefit plans, or a separate
account or trust fund comprised of one or more employee benefit plans, each of
which has been identified to the Company in writing pursuant to this clause (g);
or

        (h) the Source does not include assets of any employee benefit plan,
other than a plan exempt from the coverage of ERISA.

        As used in this Section 6.2, the terms "employee benefit plan",
"governmental plan", and "separate account" shall have the respective meanings
assigned to such terms in Section 3 of ERISA.

7.    INFORMATION AS TO COMPANY.

        7.1.    Financial and Business Information.

        The Company shall deliver to each holder of Notes that is an
Institutional Investor:

        (a)  Quarterly Statements.—within 60 days after the end of each
quarterly fiscal period in each fiscal year of the Company (other than the last
quarterly fiscal period of each such fiscal year), duplicate copies of,

        (i)    a consolidated balance sheet of the Company and its Subsidiaries
as at the end of such quarter, and

        (ii)  consolidated statements of income, changes in shareholders' equity
and cash flows of the Company and its Subsidiaries, for such quarter and (in the
case of the second and third quarters) for the portion of the fiscal year ending
with such quarter,

setting forth in each case in comparative form the figures for the corresponding
periods in the previous fiscal year, all in reasonable detail, prepared in
accordance with GAAP applicable to quarterly financial statements generally, and
certified by a Senior Financial Officer as fairly presenting, in all material
respects, the financial position of the companies being reported on and their
results of operations and cash flows, subject to changes resulting from year-end
adjustments, provided that delivery within the time period specified above of
copies of the Company's Quarterly Report on Form 10-Q prepared in compliance
with the requirements therefor and filed with the Securities and Exchange
Commission shall be deemed to satisfy the requirements of this Section 7.1(a);

        (b)  Annual Statements.—within 120 days after the end of each fiscal
year of the Company, duplicate copies of,

        (i)    a consolidated balance sheet of the Company and its Subsidiaries,
as at the end of such year, and

        (ii)  consolidated statements of income, changes in shareholders' equity
and cash flows of the Company and its Subsidiaries, for such year,

setting forth in each case in comparative form the figures for the previous
fiscal year, all in reasonable detail, prepared in accordance with GAAP, and
accompanied by an opinion thereon of independent certified public accountants of
recognized national standing, which opinion shall state that such financial
statements present fairly, in all material respects, the financial position of
the companies being reported upon and their results of operations and cash flows
and have been prepared in conformity with GAAP, and that the examination of such
accountants in connection with such financial statements has been made in
accordance with generally accepted auditing standards, and that such audit
provides a reasonable basis for such opinion in the circumstances, provided that
the delivery within the time period specified above of the Company's Annual
Report on Form 10-K for such fiscal year (together with the Company's annual
report to shareholders, if

16

--------------------------------------------------------------------------------

any, prepared pursuant to Rule 14a-3 under the Exchange Act) prepared in
accordance with the requirements therefor and filed with the Securities and
Exchange Commission shall be deemed to satisfy the requirements of this
Section 7.1(b);

        (c)  SEC and Other Reports.—promptly upon their becoming available, one
copy of (i) each financial statement, report, notice or proxy statement sent by
the Company or any Subsidiary to public securities holders generally, and
(ii) each regular or periodic report, each registration statement that shall
have become effective (without exhibits except as expressly requested by such
holder), and each final prospectus and all amendments thereto filed by the
Company or any Subsidiary with the Securities and Exchange Commission;

        (d)  Notice of Default or Event of Default.—promptly, and in any event
within five days after a Responsible Officer becoming aware of the existence of
any Default or Event of Default, a written notice specifying the nature and
period of existence thereof and what action the Company is taking or proposes to
take with respect thereto;

        (e)  ERISA Matters.—promptly, and in any event within thirty days in the
case of subclause (i) of this clause (e) and five days in the case of subclauses
(ii) and (iii) of this clause (e), after a Responsible Officer becoming aware of
any of the following, a written notice setting forth the nature thereof and the
action, if any, that the Company or an ERISA Affiliate proposes to take with
respect thereto:

        (i)    with respect to any Plan, any reportable event, as defined in
section 4043(b) of ERISA and the regulations thereunder, for which notice
thereof has not been waived pursuant to such regulations as in effect on the
date hereof; or

        (ii)  the taking by the PBGC of steps to institute, or the threatening
by the PBGC of the institution of, proceedings under section 4042 of ERISA for
the termination of, or the appointment of a trustee to administer, any Plan, or
the receipt by the Company or any ERISA Affiliate of a notice from a
Multiemployer Plan that such action has been taken by the PBGC with respect to
such Multiemployer Plan; or

        (iii)  any event, transaction or condition that could result in the
incurrence of any liability by the Company or any ERISA Affiliate pursuant to
Title I or IV of ERISA or the penalty or excise tax provisions of the Code
relating to employee benefit plans, or in the imposition of any Lien on any of
the rights, properties or assets of the Company or any ERISA Affiliate pursuant
to Title I or IV of ERISA or such penalty or excise tax provisions, if such
liability or Lien, taken together with any other such liabilities or Liens then
existing, would reasonably be expected to have a Material Adverse Effect;

        (f)    Actions, Proceedings.—written notice of any pending litigation
or, to the knowledge of the Company, threat of litigation which arises between
the Company, or any of its Subsidiaries, and any other Person which litigation
or threat of litigation, individually or in the aggregate, is determined to be
reasonably likely to cause a Material Adverse Effect, any such notice to be
given not later than five Business Days after such determination with respect to
any such litigation or threat of litigation; and

        (g)  Requested Information.—with reasonable promptness, such other data
and information relating to the business, operations, affairs, financial
condition, assets or properties of the Company or any of its Subsidiaries or
relating to the ability of the Company to perform its obligations hereunder and
under the Notes as from time to time may be reasonably requested by any such
holder of Notes.

17

--------------------------------------------------------------------------------

        7.2.    Officer's Certificate.

        Each set of financial statements delivered to a holder of Notes pursuant
to Section 7.1(a) or Section 7.1(b) hereof shall be accompanied by a certificate
of a Senior Financial Officer setting forth:

        (a)  Covenant Compliance.—the information (including detailed
calculations) required in order to establish whether the Company was in
compliance with the requirements of Section 10.3 through Section 10.10 hereof,
inclusive, during the quarterly or annual period covered by the statements then
being furnished (including with respect to each such Section, where applicable,
the calculations of the maximum or minimum amount, ratio or percentage, as the
case may be, permissible under the terms of such Sections, and the calculation
of the amount, ratio or percentage then in existence); and

        (b)  Event of Default.—a statement that such officer has reviewed the
relevant terms hereof and has made, or caused to be made, under his or her
supervision, a review of the transactions and conditions of the Company and its
Subsidiaries from the beginning of the quarterly or annual period covered by the
statements then being furnished to the date of the certificate and that such
review shall not have disclosed the existence during such period of any
condition or event that constitutes a Default or an Event of Default or, if any
such condition or event existed or exists (including, without limitation, any
such event or condition resulting from the failure of the Company or any
Subsidiary to comply with any Environmental Law), specifying the nature and
period of existence thereof and what action the Company shall have taken or
proposes to take with respect thereto.

        7.3.    Inspection.

        The Company shall permit the representatives of each holder of Notes
that is an Institutional Investor:

        (a)  No Default.—if no Default or Event of Default then exists, at the
expense of such holder and upon reasonable prior notice to the Company, to visit
the principal executive office of the Company, to discuss the affairs, finances
and accounts of the Company and its Subsidiaries with the Company's officers,
and, with the consent of the Company (which consent will not be unreasonably
withheld) to visit the other offices and properties of the Company and each
Subsidiary, all at such reasonable times and as often as may be reasonably
requested in writing; and

        (b)  Default.—if a Default or Event of Default then exists, at the
expense of the Company to visit and inspect any of the offices or properties of
the Company or any Subsidiary, to examine all their respective books of account,
records, reports and other papers, to make copies and extracts therefrom, and to
discuss their respective affairs, finances and accounts with their respective
officers and independent public accountants (and by this provision the Company
authorizes said accountants to discuss the affairs, finances and accounts of the
Company and its Subsidiaries), all at such times and as often as may be
requested.

8.    PREPAYMENT OF THE NOTES.

        8.1.    Required Prepayments.

        (a)  Series A Notes.    There are no scheduled prepayments on the
Series A Notes. The entire outstanding principal amount of the Series A Notes,
together with interest accrued thereon, is due and payable on December 2, 2012.

        (b)  Series B Notes.    On December 2, 2006 and on each December 2
thereafter to and including December 2, 2011, the Company will prepay
$10,000,000 principal amount (or such lesser

18

--------------------------------------------------------------------------------

principal amount as shall then be outstanding) of the Series B Notes at par and
without payment of the Make-Whole Amount or any premium, provided that upon any
partial prepayment of the Series B Notes pursuant to Section 8.2, purchase of
the Series B Notes permitted by Section 8.5, or any prepayment of the Series B
Notes pursuant to Section 8.7 the principal amount of each required prepayment
of the Series B Notes becoming due under this Section 8.1(b) on and after the
date of such prepayment or purchase shall be reduced in the same proportion as
the aggregate unpaid principal amount of the Series B Notes is reduced as a
result of such prepayment or purchase. The entire principal amount of the
Series B Notes remaining outstanding, together with interest accrued thereon, is
due and payable on December 2, 2012.

        8.2.    Optional Prepayments with Make-Whole Amount.

        The Company may, at its option, upon notice as provided below, prepay at
any time all, or from time to time any part of, the Notes in an amount not less
than $10,000,000 in the case of a partial prepayment, at 100% of the principal
amount so prepaid, plus the Make-Whole Amount determined for the prepayment date
with respect to such principal amount. The Company will give each holder of
Notes written notice of each optional prepayment under this Section 8.2 not less
than 30 days and not more than 60 days prior to the date fixed for such
prepayment. Each such notice shall specify such date, the aggregate principal
amount of the Notes and of each Series of Notes to be prepaid on such date, the
principal amount and Series of each Note held by such holder to be prepaid
(determined in accordance with Section 8.3), and the interest to be paid on the
prepayment date with respect to such principal amount being prepaid, and shall
be accompanied by a certificate of a Senior Financial Officer as to the
estimated Make-Whole Amount due in connection with such prepayment (calculated
as if the date of such notice were the date of the prepayment), setting forth
the details of such computation. Two Business Days prior to such prepayment, the
Company shall deliver to each holder of Notes a certificate of a Senior
Financial Officer specifying the calculation of such Make-Whole Amount as of the
specified prepayment date.

        8.3.    Allocation of Partial Prepayments.

        (a)  Required Prepayments.    In the case of each required prepayment of
the Series B Notes pursuant to Section 8.1(b), the principal amount of the
Series B Notes to be prepaid shall be allocated among all of the Series B Notes
at the time outstanding in proportion, as nearly as practicable, to the
respective unpaid principal amounts thereof not theretofore called for
prepayment.

        (b)  Optional Prepayments.    In the case of each partial prepayment of
the Notes pursuant to Section 8.2, the principal amount of the Notes to be
prepaid shall be allocated among all of the Notes of each Series then
outstanding in proportion, as nearly as practicable, to the respective unpaid
principal amounts thereof.

        8.4.    Maturity; Surrender, etc.

        In the case of each prepayment of Notes pursuant to this Section 8, the
principal amount of each Note to be prepaid shall mature and become due and
payable on the date fixed for such prepayment, together with interest on such
principal amount accrued to such date and the applicable Make-Whole Amount, if
any. From and after such date, unless the Company shall fail to pay such
principal amount when so due and payable, together with the interest and
Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall
cease to accrue. Any Note paid or prepaid in full shall be surrendered to the
Company and cancelled and shall not be reissued, and no Note shall be issued in
lieu of any prepaid principal amount of any Note.

19

--------------------------------------------------------------------------------

        8.5.    Purchase of Notes.

        The Company will not and will not permit any Affiliate to purchase,
redeem, prepay or otherwise acquire, directly or indirectly, any of the
outstanding Notes except (a) upon the payment or prepayment of the Notes in
accordance with the terms of this Agreement and the Notes or (b) pursuant to an
offer to purchase made by the Company or an Affiliate pro rata to the holders of
all Notes at the time outstanding upon the same terms and conditions. Any such
offer shall provide each holder with sufficient information to enable it to make
an informed decision with respect to such offer, and shall remain open for at
least 30 Business Days. If the holders of more than 15% of the principal amount
of the Notes then outstanding accept such offer, the Company shall promptly
notify the remaining holders of such fact and the expiration date for the
acceptance by holders of Notes of such offer shall be extended by the number of
days necessary to give each such remaining holder at least 30 Business Days from
its receipt of such notice to accept such offer. The Company will promptly
cancel all Notes acquired by it or any Affiliate pursuant to any payment,
prepayment or purchase of Notes pursuant to any provision of this Agreement and
no Notes may be issued in substitution or exchange for any such Notes.

        8.6.    Make-Whole Amount.

        The term "Make-Whole Amount" means, with respect to any Note, an amount
equal to the excess, if any, of the Discounted Value of the Remaining Scheduled
Payments with respect to the Called Principal of such Note over the amount of
such Called Principal, provided that the Make-Whole Amount may in no event be
less than zero. For the purposes of determining the Make-Whole Amount, the
following terms have the following meanings:

        "Called Principal" means, with respect to any Note, the principal of
such Note that is to be prepaid pursuant to Section 8.2 or has become or is
declared to be immediately due and payable pursuant to Section 12.1, as the
context requires.

        "Discounted Value" means, with respect to the Called Principal of any
Note, the amount obtained by discounting all Remaining Scheduled Payments with
respect to such Called Principal from their respective scheduled due dates to
the Settlement Date with respect to such Called Principal, in accordance with
accepted financial practice and at a discount factor (applied on the same
periodic basis as that on which interest on the Notes is payable) equal to the
Reinvestment Yield with respect to such Called Principal.

        "Reinvestment Yield" means, with respect to the Called Principal of any
Note, 0.50% over the yield to maturity implied by (a) the yields reported, as of
10:00 A.M. (New York City time) on the second Business Day preceding the
Settlement Date with respect to such Called Principal, on the display designated
as "Page "PX1" on the Bloomberg Financial Market Service (or such other display
as may replace Page "PX1" on the Bloomberg Financial Market Service) for
actively traded United States Treasury securities having a maturity equal to the
Remaining Average Life of such Called Principal as of such Settlement Date, or
(b) if such yields are not reported as of such time or the yields reported as of
such time are not ascertainable, the Treasury Constant Maturity Series Yields
reported, for the latest day for which such yields have been so reported as of
the second Business Day preceding the Settlement Date with respect to such
Called Principal, in Federal Reserve Statistical Release H.15 (519) (or any
comparable successor publication) for actively traded United States Treasury
securities having a constant maturity equal to the Remaining Average Life of
such Called Principal as of such Settlement Date. Such implied yield will be
determined, if necessary, by (i) converting United States. Treasury bill
quotations to bond-equivalent yields in accordance with accepted financial
practice and (ii) interpolating linearly between (1) the actively traded United
States Treasury security with the maturity closest to and greater than the
Remaining Average Life and (2) the actively traded United States Treasury
security with the maturity closest to and less than the Remaining Average Life.

20

--------------------------------------------------------------------------------

        "Remaining Average Life" means, with respect to any Called Principal,
the number of years (calculated to the nearest one-twelfth year) obtained by
dividing (a) such Called Principal into (b) the sum of the products obtained by
multiplying (i) the principal component of each Remaining Scheduled Payment with
respect to such Called Principal by (ii) the number of years (calculated to the
nearest one-twelfth year) that will elapse between the Settlement Date with
respect to such Called Principal and the scheduled due date of such Remaining
Scheduled Payment.

        "Remaining Scheduled Payments" means, with respect to the Called
Principal of any Note, all payments of such Called Principal and interest
thereon that would be due after the Settlement Date with respect to such Called
Principal if no payment of such Called Principal were made prior to its
scheduled due date, provided that if such Settlement Date is not a date on which
interest payments are due to be made under the terms of the Notes, then the
amount of the next succeeding scheduled interest payment will be reduced by the
amount of interest accrued to such Settlement Date and required to be paid on
such Settlement Date pursuant to Section 8.2 or 12.1.

        "Settlement Date" means, with respect to the Called Principal of any
Note, the date on which such Called Principal is to be prepaid pursuant to
Section 8.2 or has become or is declared to be immediately due and payable
pursuant to Section 12.1, as the context requires.

        8.7.    Change in Control.

        (a) Notice of Change in Control or Control Event. The Company will,
within 10 days after any Responsible Officer has knowledge of the occurrence of
any Change in Control or Control Event, give written notice of such Change in
Control or Control Event to each holder of Notes unless notice in respect of
such Change in Control (or the Change in Control contemplated by such Control
Event) shall have been given pursuant to paragraph (b) of this Section 8.7. If a
Change in Control has occurred, such notice shall contain and constitute an
offer to prepay the Notes as described in paragraph (c) of this Section 8.7 and
shall be accompanied by the certificate described in paragraph (g) of this
Section 8.7.

        (b) Condition to Company Action. The Company will not take any action
that consummates or finalizes a Change in Control unless (i) at least 40 days
prior to such action it shall have given to each holder of Notes written notice
containing and constituting an offer to prepay Notes as described in
paragraph (c) of this Section 8.7, accompanied by the certificate described in
paragraph (g) of this Section 8.7, and (ii) contemporaneously with such action,
it prepays all Notes required to be prepaid in accordance with this Section 8.7.

        (c) Offer to Prepay Notes. The offer to prepay Notes contemplated by
paragraphs (a) and (b) of this Section 8.7 shall be an offer to prepay, in
accordance with and subject to this Section 8.7, all, but not less than all, the
Notes held by each holder (in this case only, "holder" in respect of any Note
registered in the name of a nominee for a disclosed beneficial owner shall mean
such beneficial owner) on a date specified in such offer (the "Proposed
Prepayment Date"). If such Proposed Prepayment Date is in connection with an
offer contemplated by paragraph (a) of this Section 8.7, such date shall be not
less than 40 days and not more than 60 days after the date of such offer (if the
Proposed Prepayment Date shall not be specified in such offer, the Proposed
Prepayment Date shall be the 45th day after the date of such offer).

        (d) Acceptance; Rejection. A holder of Notes may accept the offer to
prepay made pursuant to this Section 8.7 by causing a notice of such acceptance
to be delivered to the Company at least 10 days prior to the Proposed Prepayment
Date. If the Company shall not have received a written response to the offer to
prepay pursuant to this Section 8.7 from each holder of Notes within 15 days
after the date of making of such offer to such holder of Notes, then the Company
shall immediately send a second written notice with offer to prepay via an
overnight courier of national reputation to each such holder of Notes who shall
have not previously responded to the Company.

21

--------------------------------------------------------------------------------

If the offer is so accepted by any holder of Notes, the Company at least 10 days
prior to the Proposed Prepayment Date shall give written notice to each holder
of Notes that has not so accepted the offer, in which notice the Company shall
(i) state the aggregate outstanding principal amount of Notes in respect of
which the offer has been accepted and (ii) renew the offer and extend the time
for acceptance by stating that any holder of Notes may yet accept the offer,
whether theretofore rejected or not, by causing a notice of such acceptance to
be delivered to the Company at least 5 days prior to the Proposed Prepayment
Date. A failure by a holder of Notes to respond to the last offer to prepay
required to be sent by the Company prior to the Proposed Prepayment Date
pursuant to this Section 8.7 shall be deemed to constitute a rejection of such
offer by such holder.

        (e) Prepayment. Prepayment of the Notes to be prepaid pursuant to this
Section 8.7 shall be at 100% of the principal amount of such Notes, together
with interest on such Notes accrued to the date of prepayment. On the Business
Day preceding the date of prepayment, the Company shall deliver to each holder
of Notes being prepaid a statement showing the principal amount and interest due
in connection with such prepayment and setting forth the details of the
computation of such amount. The prepayment shall be made on the Proposed
Prepayment Date except as provided in paragraph (f) of this Section 8.7.

        (f) Deferral Pending Change in Control. The obligation of the Company to
prepay Notes pursuant to the offers required by paragraph (b) and accepted in
accordance with paragraph (d) of this Section 8.7 is subject to the occurrence
of the Change in Control in respect of which such offers and acceptances shall
have been made. In the event that such Change in Control does not occur on the
Proposed Prepayment Date in respect thereof, the prepayment shall be deferred
until and shall be made on the date on which such Change in Control occurs. The
Company shall keep each holder of Notes reasonably and timely informed of
(i) any such deferral of the date of prepayment, (ii) the date on which such
Change in Control and the prepayment are expected to occur, and (iii) any
determination by the Company that efforts to effect such Change in Control have
ceased or been abandoned (in which case the offers and acceptances made pursuant
to this Section 8.7 in respect of such Change in Control shall be deemed
rescinded).

        (g) Officer's Certificate. Each offer to prepay the Notes pursuant to
this Section 8.7 shall be accompanied by a certificate, executed by a Senior
Financial Officer and dated the date of such offer, specifying: (i) the Proposed
Prepayment Date; (ii) that such offer is made pursuant to this Section 8.7;
(iii) the principal amount of each Note offered to be prepaid; (iv) the interest
that would be due on each Note offered to be prepaid, accrued to the Proposed
Prepayment Date; (v) that the conditions of this Section 8.7 have been
fulfilled; and (vi) in reasonable detail, the nature and date or proposed date
of the Change in Control.

9. AFFIRMATIVE COVENANTS.

        The Company covenants that so long as any of the Notes are outstanding:

        9.1.    Compliance with Law.

        The Company will and will cause each of its Subsidiaries to comply with
all laws, ordinances or governmental rules or regulations to which each of them
is subject, including, without limitation, Environmental Laws, ERISA and the USA
Patriot Act, and will obtain and maintain in effect all licenses, certificates,
permits, franchises and other governmental authorizations necessary to the
ownership of their respective properties or to the conduct of their respective
businesses, in each case to the extent necessary to ensure that non-compliance
with such laws, ordinances or governmental rules or regulations or failures to
obtain or maintain in effect such licenses, certificates, permits, franchises
and other governmental authorizations would not reasonably be expected,
individually or in the aggregate,

22

--------------------------------------------------------------------------------

to have a materially adverse effect on the business, operations, affairs,
financial condition, properties or assets of the Company and its Subsidiaries
taken as a whole.

        9.2.    Insurance.

        The Company will and will cause each of its Subsidiaries to maintain,
with financially sound and reputable insurers, insurance with respect to their
respective properties and businesses against such casualties and contingencies,
of such types, on such terms and in such amounts (including deductibles,
co-insurance and self-insurance, if adequate reserves are maintained with
respect thereto) as is customary in the case of entities of established
reputations engaged in the same or a similar business and similarly situated.

        9.3.    Maintenance of Properties.

        The Company will and will cause each of its Subsidiaries to maintain and
keep, or cause to be maintained and kept, their respective properties in good
repair, working order and condition (other than ordinary wear and tear), so that
the business carried on in connection therewith may be properly conducted at all
times, provided that this Section shall not prevent the Company or any
Subsidiary from discontinuing the operation and the maintenance of any of its
properties if such discontinuance is desirable in the conduct of its business
and the Company has concluded that such discontinuance would not, individually
or in the aggregate, have a materially adverse effect on the business,
operations, affairs, financial condition, properties or assets of the Company
and its Subsidiaries taken as a whole.

        9.4.    Payment of Taxes.

        The Company will and will cause each of its Subsidiaries to file all
income tax or similar tax returns required to be filed in any jurisdiction and
to pay and discharge all taxes shown to be due and payable on such returns and
all other taxes, assessments, governmental charges, or levies payable by any of
them, to the extent such taxes and assessments have become due and payable and
before they have become delinquent, provided that neither the Company nor any
Subsidiary need pay any such tax or assessment if (a) the amount, applicability
or validity thereof is contested by the Company or such Subsidiary on a timely
basis in good faith and in appropriate proceedings, and the Company or a
Subsidiary has established adequate reserves therefor in accordance with GAAP on
the books of the Company or such Subsidiary or (b) the nonpayment of all such
taxes and assessments in the aggregate would not reasonably be expected to have
a materially adverse effect on the business, operations, affairs, financial
condition, properties or assets of the Company and its Subsidiaries taken as a
whole.

        9.5.    Corporate Existence, etc.

        The Company will at all times preserve and keep in full force and effect
its corporate existence. Subject to Section 10.2 and Section 10.8, the Company
will at all times preserve and keep in full force and effect the corporate
existence of each of its Subsidiaries (unless merged into the Company or a
Subsidiary) and all rights and franchises of the Company and its Subsidiaries
unless, in the good faith judgment of the Company, the termination of or failure
to preserve and keep in full force and effect such corporate existence, right or
franchise would not, individually or in the aggregate, have a materially adverse
effect on the business, operations, affairs, financial condition, properties or
assets of the Company and its Subsidiaries taken as a whole.

        9.6.    Pari Passu.

        The obligations of the Company under this Agreement, the Other
Agreements and the Notes at all times shall rank pari passu with all of its
other unsecured senior Indebtedness (including, without limitation, Indebtedness
under the Credit Agreement, as in effect from time to time). The obligations of
each Subsidiary Guarantor under the Subsidiary Guaranty at all times shall rank
pari passu with all of such Subsidiary Guarantor's other unsecured senior
Indebtedness (including, without limitation, any guaranty of the Indebtedness
under the Credit Agreement, as in effect from time to time). Without

23

--------------------------------------------------------------------------------

limiting the foregoing, (a) the Company shall take all steps necessary to
provide that its obligations evidenced by the Notes shall be senior to any
outstanding Indebtedness (other than the Existing Seller Debt) of the Company or
any Subsidiary that is in any manner subordinated in right of payment or
security to any other Indebtedness on the same terms and conditions as such
other Indebtedness and (b) if the Company or any Subsidiary incurs any
Indebtedness ("New Subordinated Indebtedness") after the date of Closing that is
in any manner subordinated in right of payment or security to any other
Indebtedness, the New Subordinated Indebtedness shall be subordinated in right
of payment and security to the obligations of the Company and Subsidiary
Guarantors evidenced by the Notes and the Subsidiary Guaranty on the same terms
and conditions as such other Indebtedness.

9.7.    Additional Subsidiary Guarantors.

        The Company will cause each Person that becomes a Material Subsidiary
after the date of Closing to execute and deliver to each of the holders of the
Notes within thirty (30) days after becoming a Material Subsidiary (but, in the
case of any Person that becomes a Material Subsidiary pursuant to clause (c) of
the definition of "Material Subsidiary" in Schedule B, such execution and
delivery shall occur contemporaneously with such Person's becoming a Material
Subsidiary pursuant to such clause regardless of whether such Person already
became a Material Subsidiary pursuant to clause (a) or clause (b) of such
definition) a duly authorized Joinder Agreement and an opinion of the general
counsel to the Subsidiary regarding the authorization, execution and delivery of
such Joinder Agreement, and its enforceability, which opinion shall be
satisfactory in all respects to the Required Holders.

10.    NEGATIVE COVENANTS.

        The Company covenants that so long as any of the Notes are outstanding:

        10.1.    Transactions with Affiliates.

        The Company will not and will not permit any Subsidiary to enter into
directly or indirectly any Material transaction or Material group of related
transactions (including without limitation the purchase, lease, sale or exchange
of properties of any kind or the rendering of any service) with any Affiliate
(other than the Company or another Subsidiary), except pursuant to the
reasonable requirements of the Company's or such Subsidiary's business and upon
fair and reasonable terms no less favorable to the Company or such Subsidiary
than would be obtainable in a comparable arm's length transaction with a Person
not an Affiliate.

        10.2.    Merger, Consolidation, etc.

        The Company will not, and will not permit any of its Subsidiaries to,
consolidate with or merge with any other corporation or convey, transfer or
lease substantially all of its assets in a single transaction or series of
transactions to any Person (except that a Subsidiary of the Company may
(x) consolidate with or merge with, or convey, transfer or lease substantially
all of its assets in a single transaction or series of transactions to, the
Company or a Wholly-Owned Subsidiary and (y) convey, transfer or lease all of
its assets in compliance with the provisions of Section 10.7), provided that the
foregoing restriction does not apply to the consolidation or merger of the
Company with, or the conveyance, transfer or lease of substantially all of the
assets of the Company in a single transaction or series of transactions to, any
Person so long as:

        (a) the successor formed by such consolidation or the survivor of such
merger or the Person that acquires by conveyance, transfer or lease
substantially all of the assets of the Company as an entirety, as the case may
be (the "Successor Corporation"), shall be a solvent corporation organized and
existing under the laws of the United States of America, any State thereof or
the District of Columbia;

24

--------------------------------------------------------------------------------

        (b) if the Company is not the Successor Corporation, such corporation
shall have executed and delivered to each holder of Notes in form and substance
satisfactory to each holder of Notes its assumption of the due and punctual
performance and observance of each covenant and condition of this Agreement and
the Notes; and

        (c) immediately after giving effect to such transaction no Default or
Event of Default would exist.

No such conveyance, transfer or lease of substantially all of the assets of the
Company shall have the effect of releasing the Company or any Successor
Corporation from its liability under this Agreement or the Notes.

        10.3.    Liens.

        The Company will not, and will not permit any of its Subsidiaries to,
directly or indirectly create, incur, assume or permit to exist (upon the
happening of a contingency or otherwise) any Lien on or with respect to any
property or asset (including, without limitation, any document or instrument in
respect of goods or accounts receivable) of the Company or any such Subsidiary,
whether now owned or held or hereafter acquired, or any income or profits
therefrom, or assign or otherwise convey any right to receive income or profits,
except Permitted Liens.

        10.4.    Sale-and-Leaseback Transactions.

        The Company will not, and will not permit any Subsidiary to, enter into
any Sale-and-Leaseback Transaction unless, immediately after giving effect
thereto, the aggregate amount of Priority Debt does not exceed 20% of
Consolidated Net Worth.

        10.5.    Fixed Charges Coverage Ratio.

        The Company will not, at any time, permit the Fixed Charges Coverage
Ratio to be less than 1.5 to 1.

        10.6.    Leverage Ratio.

        The Company will not, at any time, permit the Leverage Ratio to be
greater than 3 to 1.

        10.7.    Sale of Assets, etc.

        Except as permitted under Section 10.2, the Company will not, and will
not permit any of its Subsidiaries to, make any Asset Disposition unless:

        (a) in the good faith opinion of the Company (and the Company's board of
directors, if approval by the Company's board of directors of such Asset
Disposition is required by the Company's governing documents or by applicable
law), the Asset Disposition is in exchange for consideration having a Fair
Market Value at least equal to that of the property exchanged and is in the best
interest of the Company or such Subsidiary;

        (b) immediately prior to and after giving effect to the Asset
Disposition, no Default or Event of Default exists or would exist;

        (c) immediately after giving effect to the Asset Disposition,

        (i) the Disposition Value of all property that was the subject of any
Asset Disposition occurring in the then current fiscal year of the Company would
not exceed 15% of Consolidated Assets as of the end of the then most recently
ended fiscal year of the Company, and

25

--------------------------------------------------------------------------------

        (ii) the Disposition Value of all property that was the subject of any
Asset Disposition occurring on or after the date of the Closing would not exceed
40% of Consolidated Assets as of the end of the then most recently ended fiscal
year of the Company; and

        (d) If the Net Proceeds Amount for any Transfer is applied to a Debt
Prepayment Application contemporaneously with such Transfer or a Property
Reinvestment Application within 365 days after such Transfer, then such
Transfer, only for the purpose of determining compliance with subsection (c) of
this Section 10.7 as of a date on or after the Net Proceeds Amount is so
applied, shall be deemed not to be an Asset Disposition.

        10.8. Disposal of Ownership of Subsidiary.

        The Company will not, and will not permit any of its Subsidiaries to,
issue, sell or otherwise dispose of any shares of Subsidiary Stock, nor will the
Company permit any such Subsidiary to issue, sell or otherwise dispose of any
shares of its own Subsidiary Stock unless (a) such issuance, sale or disposition
satisfies the requirements of Section 10.7 hereof and (b) in the case of a 10%
Subsidiary, the effect of such issuance, sale or disposition would not reduce
the direct or indirect proportionate interest of the Company and the other
Subsidiaries in the outstanding Subsidiary Stock of such Subsidiary.

        10.9. Restricted Investments.

        The Company will not, and will not permit any of its Subsidiaries to,
have outstanding any Restricted Investments with an aggregate book value at any
time in excess of 15% of Consolidated Net Worth.

        10.10. Subsidiary Debt.

        The Company will not at any time permit any Subsidiary to, directly or
indirectly, create, incur, assume, guarantee, have outstanding, or otherwise
become or remain directly or indirectly liable with respect to, any Debt other
than:

        (a) Debt under the Subsidiary Guaranty;

        (b) Debt outstanding on the date hereof and disclosed in Schedule 10.10
(which Schedule shall list the principal amounts of such Debt on the date of
Closing), provided that the principal amounts of such Debt may not be increased
above the principal amounts disclosed on such Schedule;

        (c) Debt owed to the Company or a Wholly-Owned Subsidiary; and

        (d) other Debt so long as the aggregate amount of Priority Debt at no
time exceeds 20% of Consolidated Net Worth.

11.    EVENTS OF DEFAULT.

        An "Event of Default" shall exist if any of the following conditions or
events shall occur and be continuing:

        (a) the Company defaults in the payment of any principal or Make-Whole
Amount, if any, on any Note when the same becomes due and payable, whether at
maturity or at a date fixed for prepayment or by declaration or otherwise; or

        (b) the Company defaults in the payment of any interest on any Note for
more than five Business Days after the same becomes due and payable; or

        (c) the Company defaults in the performance of or compliance with any
term contained in Section 9.1 with respect to compliance with ERISA or Sections
10.2 through 10.10, inclusive; or

26

--------------------------------------------------------------------------------

        (d) the Company defaults in the performance of or compliance with any
term contained herein (other than those referred to in clauses (a), (b) and
(c) of this Section 11) and such default is not remedied within 30 days after
the earlier of (i) a Responsible Officer obtaining actual knowledge of such
default and (ii) the Company receiving written notice of such default from any
holder of a Note (any such written notice to be identified as a "notice of
default" and to refer specifically to this clause (d) of Section 11); or

        (e) any representation or warranty made in writing by or on behalf of
the Company or by any officer of the Company in this Agreement or in any writing
furnished in connection with the transactions contemplated hereby proves to have
been false or incorrect in any material respect on the date as of which made; or

        (f) (i) the Company or any Significant Subsidiary is in default (as
principal or as guarantor or other surety) in the payment of any principal of or
premium or make-whole amount or interest on any Indebtedness that is outstanding
in an aggregate principal amount of at least $10,000,000 beyond any period of
grace provided with respect thereto, or (ii) the Company or any Significant
Subsidiary is in default in the performance of or compliance with any term of
any evidence of any Indebtedness in an aggregate outstanding principal amount of
at least $10,000,000 or of any mortgage, indenture or other agreement relating
thereto or any other condition exists, and as a consequence of such default or
condition such Indebtedness has become, or has been declared due and payable
before its stated maturity or before its regularly scheduled dates of payment;
or

        (g) the Company or any Significant Subsidiary (i) is generally not
paying, or admits in writing its inability to pay, its debts as they become due,
(ii) files, or consents by answer or otherwise to the filing against it of, a
petition for relief or reorganization or arrangement or any other petition in
bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency,
reorganization, moratorium or other similar law of any jurisdiction, (iii) makes
an assignment for the benefit of its creditors, (iv) consents to the appointment
of a custodian, receiver, trustee or other officer with similar powers with
respect to it or with respect to any substantial part of its property, (v) is
adjudicated as insolvent or to be liquidated, or (vi) takes corporate action for
the purpose of any of the foregoing; or

        (h) a court or governmental authority of competent jurisdiction enters
an order appointing, without consent by the Company or any of its Significant
Subsidiaries, a custodian, receiver, trustee or other officer with similar
powers with respect to it or with respect to any substantial part of its
property, or constituting an order for relief or approving a petition for relief
or reorganization or any other petition in bankruptcy or for liquidation or to
take advantage of any bankruptcy or insolvency law of any jurisdiction, or
ordering the dissolution, winding-up or liquidation of the Company or any of its
Significant Subsidiaries, or any such petition shall be filed against the
Company or any of its Significant Subsidiaries and such petition shall not be
dismissed within 60 days; or

        (i) a final judgment or judgments for the payment of money aggregating
in excess of $5,000,000 are rendered against one or more of the Company and its
Significant Subsidiaries and which judgments are not, within 60 days after entry
thereof, bonded, discharged or stayed pending appeal, or are not discharged
within 60 days after the expiration of such stay; or

27

--------------------------------------------------------------------------------

        (j) if (i) any Plan shall fail to satisfy the minimum funding standards
of ERISA or the Code for any plan year or part thereof or a waiver of such
standards or extension of any amortization period is sought or granted under
section 412 of the Code, (ii) a notice of intent to terminate any Plan shall
have been or is reasonably expected to be filed with the PBGC or the PBGC shall
have instituted proceedings under ERISA section 4042 to terminate or appoint a
trustee to administer any Plan or the PBGC shall have notified the Company or
any ERISA Affiliate that a Plan may become a subject of any such proceedings,
(iii) the aggregate "amount of unfunded benefit liabilities" (within the meaning
of section 4001(a)(18) of ERISA) under all Plans, determined in accordance with
Title IV of ERISA, shall exceed $10,000,000, (iv) the Company or any ERISA
Affiliate shall have incurred or is reasonably expected to incur any liability
pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of
the Code relating to employee benefit plans, (v) the Company or any ERISA
Affiliate withdraws from any Multiemployer Plan, or (vi) the Company or any
Subsidiary establishes or amends any employee welfare benefit plan that provides
post-employment welfare benefits in a manner that would increase the liability
of the Company or any Subsidiary thereunder; and any such event or events
described in clauses (i) through (vi) above, either individually or together
with any other such event or events, would reasonably be expected to have a
Materially Adverse Effect.

As used in Section 11(j), the terms "employee benefit plan" and "employee
welfare benefit plan" shall have the respective meanings assigned to such terms
in Section 3 of ERISA.

12.    REMEDIES ON DEFAULT, ETC.

12.1.    Acceleration.

        (a) If an Event of Default with respect to the Company described in
clause (g) or (h) of Section 11 (other than an Event of Default described in
subclause (i) of clause (g) or described in subclause (vi) of clause (g) by
virtue of the fact that such clause encompasses subclause (i) of clause (g)) has
occurred, all the Notes then outstanding shall automatically become immediately
due and payable.

        (b) If any other Event of Default has occurred and is continuing, any
holder or holders of more than 50% in principal amount of the Notes at the time
outstanding may at any time at its or their option, by notice or notices to the
Company, declare all the Notes then outstanding to be immediately due and
payable.

        (c) If any Event of Default described in paragraph (a) or (b) of
Section 11 has occurred and is continuing, any holder or holders of Notes at the
time outstanding affected by such Event of Default may at any time, at its or
their option, by notice or notices to the Company, declare all the Notes held by
it or them to be immediately due and payable.

Upon any Notes becoming due and payable under this Section 12.1, whether
automatically or by declaration, such Notes will forthwith mature and the entire
unpaid principal amount of such Notes, plus (x) all accrued and unpaid interest
thereon and (y) the Make-Whole Amount determined in respect of such principal
amount (to the full extent permitted by applicable law), shall all be
immediately due and payable, in each and every case without presentment, demand,
protest or further notice, all of which are hereby waived. The Company
acknowledges, and the parties hereto agree, that each holder of a Note has the
right to maintain its investment in the Notes free from repayment by the Company
(except as herein specifically provided for) and that the provision for payment
of a Make-Whole Amount by the Company in the event that the Notes are prepaid or
are accelerated as a result of an Event of Default, is intended to provide
compensation for the deprivation of such right under such circumstances.

28

--------------------------------------------------------------------------------

12.2.    Other Remedies.

        If any Default or Event of Default has occurred and is continuing, and
irrespective of whether any Notes have become or have been declared immediately
due and payable under Section 12.1, the holder of any Note at the time
outstanding may proceed to protect and enforce the rights of such holder by an
action at law, suit in equity or other appropriate proceeding, whether for the
specific performance of any agreement contained herein or in any Note, or for an
injunction against a violation of any of the terms hereof or thereof, or in aid
of the exercise of any power granted hereby or thereby or by law or otherwise.

12.3.    Rescission.

        At any time after any Notes have been declared due and payable pursuant
to paragraph (b) or (c) of Section 12.1, the holders of not less than 662/3% in
principal amount of the Notes then outstanding, by written notice to the
Company, may rescind and annul any such declaration and its consequences if
(a) the Company has paid all overdue interest on the Notes, all principal of and
Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid
other than by reason of such declaration, and all interest on such overdue
principal and Make-Whole Amount, if any, and (to the extent permitted by
applicable law) any overdue interest in respect of the Notes, at the Default
Rate, (b) all Events of Default and Defaults, other than non-payment of amounts
that have become due solely by reason of such declaration, have been cured or
have been waived pursuant to Section 17, and (c) no judgment or decree has been
entered for the payment of any monies due pursuant hereto or to the Notes. No
rescission and annulment under this Section 12.3 will extend to or affect any
subsequent Event of Default or Default or impair any right consequent thereon.

12.4.    No Waivers or Election of Remedies, Expenses, etc.

        No course of dealing and no delay on the part of any holder of any Note
in exercising any right, power or remedy shall operate as a waiver thereof or
otherwise prejudice such holder's rights, powers or remedies. No right, power or
remedy conferred by this Agreement or by any Note upon any holder thereof shall
be exclusive of any other right, power or remedy referred to herein or therein
or now or hereafter available at law, in equity, by statute or otherwise.
Without limiting the obligations of the Company under Section 15, the Company
will pay to the holder of each Note on demand such further amount as shall be
sufficient to cover all costs and expenses of such holder incurred in any
enforcement or collection under this Section 12, including, without limitation,
reasonable attorneys' fees, expenses and disbursements.

13.    REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.

13.1.    Registration of Notes.

        The Company shall keep at its principal executive office a register for
the registration and registration of transfers of Notes. The name and address of
each holder of one or more Notes, each transfer thereof and the name and address
of each transferee of one or more Notes shall be registered in such register.
Prior to due presentment for registration of transfer, the Person in whose name
any Note shall be registered shall be deemed and treated as the owner and holder
thereof for all purposes hereof, and the Company shall not be affected by any
notice or knowledge to the contrary. The Company shall give to any holder of a
Note that is an Institutional Investor promptly upon request therefor, a
complete and correct copy of the names and addresses of all registered holders
of Notes.

13.2.    Transfer and Exchange of Notes.

        Upon surrender of any Note at the principal executive office of the
Company for registration of transfer or exchange (and in the case of a surrender
for registration of transfer, duly endorsed or

29

--------------------------------------------------------------------------------

accompanied by a written instrument of transfer duly executed by the registered
holder of such Note or his attorney duly authorized in writing and accompanied
by the address for notices of each transferee of such Note or part thereof), the
Company shall execute and deliver, at the Company's expense (except as provided
below), one or more new Notes (as requested by the holder thereof) in exchange
therefor, in an aggregate principal amount equal to the unpaid principal amount
of the surrendered Note. Each such new Note shall be payable to such Person as
such holder may request and shall be substantially in the form of Exhibit 1.1 in
the case of the Series A Notes and Exhibit 1.2 in the case of the Series B
Notes. Each such new Note shall be dated and bear interest from the date to
which interest shall have been paid on the surrendered Note or dated the date of
the surrendered Note if no interest shall have been paid thereon. The Company
may require payment of a sum sufficient to cover any stamp tax or governmental
charge imposed in respect of any such transfer of Notes. Notes shall not be
transferred in denominations of less than $100,000, provided that, if necessary
to enable the registration of transfer by a holder of its entire holding of
Notes, one Note may be in a denomination of less than $100,000. Any transferee,
by its acceptance of a Note registered in its name (or the name of its nominee),
shall be deemed to have made the representation set forth in Section 6.2.

13.3.    Replacement of Notes.

        Upon receipt by the Company of evidence reasonably satisfactory to it of
the ownership of and the loss, theft, destruction or mutilation of any Note
(which evidence shall be, in the case of an Institutional Investor, notice from
such Institutional Investor of such ownership and such loss, theft, destruction
or mutilation), and

        (a) in the case of loss, theft or destruction, of indemnity reasonably
satisfactory to it (provided that if the holder of such Note is, or is a nominee
for, an original Purchaser or another holder of a Note with a minimum net worth
of at least $100,000,000, such Person's own unsecured agreement of indemnity
shall be deemed to be satisfactory), or

        (b) in the case of mutilation, upon surrender and cancellation thereof,

the Company at its own expense shall execute and deliver, in lieu thereof, a new
Note, dated and bearing interest from the date to which interest shall have been
paid on such lost, stolen, destroyed or mutilated Note or dated the date of such
lost, stolen, destroyed or mutilated Note if no interest shall have been paid
thereon.

14.    PAYMENTS ON NOTES.

14.1.    Place of Payment.

        Subject to Section 14.2, payments of principal, Make-Whole Amount, if
any, and interest becoming due and payable on the Notes shall be made in New
York, New York at the principal office of PNC Bank, National Association, in
such jurisdiction. The Company may at any time, by notice to each holder of a
Note, change the place of payment of the Notes so long as such place of payment
shall be either the principal office of the Company in such jurisdiction or the
principal office of a bank or trust company in such jurisdiction.

14.2.    Home Office Payment.

        So long as you or your nominee shall be the holder of any Note, and
notwithstanding anything contained in Section 14.1 or in such Note to the
contrary, the Company will pay all sums becoming due on such Note for principal,
Make-Whole Amount, if any, and interest by the method and at the address
specified for such purpose below your name in Schedule A, or by such other
method or at such other address as you shall have from time to time specified to
the Company in writing for such purpose, without the presentation or surrender
of such Note or the making of any notation thereon, except that

30

--------------------------------------------------------------------------------

upon written request of the Company made concurrently with or reasonably
promptly after payment or prepayment in full of any Note, you shall surrender
such Note for cancellation, reasonably promptly after any such request, to the
Company at its principal executive office or at the place of payment most
recently designated by the Company pursuant to Section 14.1. Prior to any sale
or other disposition of any Note held by you or your nominee you will, at your
election, either endorse thereon the amount of principal paid thereon and the
last date to which interest has been paid thereon or surrender such Note to the
Company in exchange for a new Note or Notes pursuant to Section 13.2. The
Company will afford the benefits of this Section 14.2 to any Institutional
Investor that is the direct or indirect transferee of any Note purchased by you
under this Agreement and that has made the same agreement relating to such Note
as you have made in this Section 14.2.

15.    EXPENSES, ETC.

15.1.    Transaction Expenses.

        Whether or not the transactions contemplated hereby are consummated, the
Company will pay all costs and expenses (including reasonable attorneys' fees of
special counsel) incurred by you and each Other Purchaser or holder of a Note in
connection with such transactions and in connection with any amendments, waivers
or consents under or in respect of this Agreement or the Notes (whether or not
such amendment, waiver or consent becomes effective), including, without
limitation: (a) the costs and expenses incurred in enforcing or defending (or
determining whether or how to enforce or defend) any rights under this Agreement
or the Notes or in responding to any subpoena or other legal process or informal
investigative demand issued in connection with this Agreement or the Notes, or
by reason of being a holder of any Note, and (b) the costs and expenses,
including financial advisors' fees, incurred in connection with the insolvency
or bankruptcy of the Company or any Subsidiary or in connection with any
work-out or restructuring of the transactions contemplated hereby and by the
Notes. The Company will pay, and will save you and each other holder of a Note
harmless from, all claims in respect of any fees, costs or expenses if any, of
brokers and finders (other than those retained by you).

15.2.    Survival.

        The obligations of the Company under this Section 15 will survive the
payment or transfer of any Note, the enforcement, amendment or waiver of any
provision of this Agreement or the Notes, and the termination of this Agreement.

31

--------------------------------------------------------------------------------

16.    SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.

        All representations and warranties contained herein shall survive the
execution and delivery of this Agreement and the Notes, the purchase or transfer
by you of any Note or portion thereof or interest therein and the payment of any
Note, and may be relied upon by any subsequent holder of a Note, regardless of
any investigation made at any time by or on behalf of you or any other holder of
a Note. All statements contained in any certificate or other instrument
delivered by or on behalf of the Company pursuant to this Agreement shall be
deemed representations and warranties of the Company under this Agreement.
Subject to the preceding sentence, this Agreement and the Notes embody the
entire agreement and understanding between you and the Company and supersede all
prior agreements and understandings relating to the subject matter hereof.

17.  AMENDMENT AND WAIVER.

17.1.    Requirements.

        This Agreement and the Notes may be amended, and the observance of any
term hereof or of the Notes may be waived (either retroactively or
prospectively), with (and only with) the written consent of the Company and the
Required Holders, except that (a) no amendment or waiver of any of the
provisions of Sections 1, 2, 3, 4, 5, 6 or 21 hereof, or any defined term (as it
is used therein), will be effective as to you unless consented to by you in
writing, and (b) no such amendment or waiver may, without the written consent of
the holder of each Note at the time outstanding affected thereby, (i) subject to
the provisions of Section 12 relating to acceleration or rescission, change the
amount or time of any prepayment or payment of principal of, or reduce the rate
or change the time of payment or method of computation of interest or of the
Make-Whole Amount on, the Notes, (ii) change the percentage of the principal
amount of the Notes the holders of which are required to consent to any such
amendment or waiver, or (iii) amend any of Sections 8, 11(a), 11(b), 12, 17 or
20, or any defined term (as it is used therein).

17.2.    Solicitation of Holders of Notes.

        (a)    Solicitation.    The Company will provide each holder of the
Notes (irrespective of the amount of Notes then owned by it) with sufficient
information, sufficiently far in advance of the date a decision is required, to
enable such holder to make an informed and considered decision with respect to
any proposed amendment, waiver or consent in respect of any of the provisions
hereof or of the Notes. The Company will deliver executed or true and correct
copies of each amendment, waiver or consent effected pursuant to the provisions
of this Section 17 to each holder of outstanding Notes promptly following the
date on which it is executed and delivered by, or receives the consent or
approval of, the requisite holders of Notes.

        (b)    Payment.    The Company will not directly or indirectly pay or
cause to be paid any remuneration, whether by way of supplemental or additional
interest, fee or otherwise, or grant any security, to any holder of Notes as
consideration for or as an inducement to the entering into by any holder of
Notes or any waiver or amendment of any of the terms and provisions hereof
unless such remuneration is concurrently paid, or security is concurrently
granted, on the same terms, ratably to each holder of Notes then outstanding
even if such holder did not consent to such waiver or amendment.

17.3.    Binding Effect, etc.

        Any amendment or waiver consented to as provided in this Section 17
applies equally to all holders of Notes and is binding upon them and upon each
future holder of any Note and upon the Company without regard to whether such
Note has been marked to indicate such amendment or

32

--------------------------------------------------------------------------------

waiver. No such amendment or waiver will extend to or affect any obligation,
covenant, agreement, Default or Event of Default not expressly amended or waived
or impair any right consequent thereon. No course of dealing between the Company
and the holder of any Note nor any delay in exercising any rights hereunder or
under any Note shall operate as a waiver of any rights of any holder of such
Note. As used herein, the term "this Agreement" and references thereto shall
mean this Agreement as it may from time to time be amended or supplemented.

17.4.    Notes held by Company, etc.

        Solely for the purpose of determining whether the holders of the
requisite percentage of the aggregate principal amount of Notes then outstanding
approved or consented to any amendment, waiver or consent to be given under this
Agreement or the Notes, or have directed the taking of any action provided
herein or in the Notes to be taken upon the direction of the holders of a
specified percentage of the aggregate principal amount of Notes then
outstanding, Notes directly or indirectly owned by the Company or any of its
Affiliates shall be deemed not to be outstanding.

18.  NOTICES.

        All notices and communications provided for hereunder shall be in
writing and sent (a) by telecopy if the sender on the same day sends a
confirming copy of such notice by a recognized overnight delivery service
(charges prepaid), or (b) by registered or certified mail with return receipt
requested (postage prepaid), or (c) by a recognized overnight delivery service
(with charges prepaid). Any such notice must be sent:

        (i)    if to you or your nominee, to you or it at the address specified
for such communications in Schedule A, or at such other address as you or it
shall have specified to the Company in writing,

        (ii)  if to any other holder of any Note, to such holder at such address
as such other holder shall have specified to the Company in writing, or

        (iii)  if to the Company, to the Company at its address set forth at the
beginning hereof to the attention of John R. Bartholdson, or at such other
address as the Company shall have specified to the holder of each Note in
writing.

Notices under this Section 18 will be deemed given only when actually received.

19.  REPRODUCTION OF DOCUMENTS.

        This Agreement and all documents relating thereto, including, without
limitation, (a) consents, waivers and modifications that may hereafter be
executed, (b) documents received by you at the Closing (except the Notes
themselves), and (c) financial statements, certificates and other information
previously or hereafter furnished to you, may be reproduced by you by any
photographic, photostatic, microfilm, microcard, miniature photographic or other
similar process and you may destroy any original document so reproduced. The
Company agrees and stipulates that, to the extent permitted by applicable law,
any such reproduction shall be admissible in evidence as the original itself in
any judicial or administrative proceeding (whether or not the original is in
existence and whether or not such reproduction was made by you in the regular
course of business) and any enlargement, facsimile or further reproduction of
such reproduction shall likewise be admissible in evidence. This Section 19
shall not prohibit the Company or any other holder of Notes from contesting any
such reproduction to the same extent that it could contest the original, or from
introducing evidence to demonstrate the inaccuracy of any such reproduction.

33

--------------------------------------------------------------------------------

20.  CONFIDENTIAL INFORMATION.

        For the purposes of this Section 20, "Confidential Information" means
information delivered to you by or on behalf of the Company or any Subsidiary in
connection with the transactions contemplated by or otherwise pursuant to this
Agreement that is proprietary in nature and that was clearly marked or labeled
or otherwise adequately identified when received by you as being confidential
information of the Company or such Subsidiary, provided that such term does not
include information that (a) was publicly known or otherwise known to you prior
to the time of such disclosure, (b) subsequently becomes publicly known through
no act or omission by you or any person acting on your behalf, (c) otherwise
becomes known to you other than through disclosure by the Company or any
Subsidiary or (d) constitutes financial statements delivered to you under
Section 7.1 that are otherwise publicly available. You will maintain the
confidentiality of such Confidential Information in accordance with procedures
adopted by you in good faith to protect confidential information of third
parties delivered to you, provided that you may deliver or disclose Confidential
Information to (i) your directors, officers, employees, agents, attorneys and
affiliates, (to the extent such disclosure reasonably relates to the
administration of the investment represented by your Notes), (ii) your financial
advisors and other professional advisors who agree to hold confidential the
Confidential Information substantially in accordance with the terms of this
Section 20, (iii) any other holder of any Note, (iv) any Institutional Investor
to which you sell or offer to sell such Note or any part thereof or any
participation therein (if such Person has agreed in writing prior to its receipt
of such Confidential Information to be bound by the provisions of this
Section 20), (v) any Person from which you offer to purchase any security of the
Company (if such Person has agreed in writing prior to its receipt of such
Confidential Information to be bound by the provisions of this Section 20),
(vi) any federal or state regulatory authority having jurisdiction over you,
(vii) the National Association of Insurance Commissioners or any similar
organization, or any nationally recognized rating agency that requires access to
information about your investment portfolio, or (viii) any other Person to which
such delivery or disclosure may be necessary or appropriate (w) to effect
compliance with any law, rule, regulation or order applicable to you, (x) in
response to any subpoena or other legal process, (y) in connection with any
litigation to which you are a party or (z) if an Event of Default has occurred
and is continuing, to the extent you may reasonably determine such delivery and
disclosure to be necessary or appropriate in the enforcement or for the
protection of the rights and remedies under your Notes and this Agreement. Each
holder of a Note, by its acceptance of a Note, will be deemed to have agreed to
be bound by and to be entitled to the benefits of this Section 20 as though it
were a party to this Agreement. On reasonable request by the Company in
connection with the delivery to any holder of a Note of information required to
be delivered to such holder under this Agreement or requested by such holder
(other than a holder that is a party to this Agreement or its nominee), such
holder will enter into an agreement with the Company embodying the provisions of
this Section 20.

21.  SUBSTITUTION OF PURCHASER.

        You shall have the right to substitute any one of your Affiliates as the
purchaser of the Notes that you have agreed to purchase hereunder, by written
notice to the Company, which notice shall be signed by both you and such
Affiliate, shall contain such Affiliate's agreement to be bound by this
Agreement and shall contain a confirmation by such Affiliate of the accuracy
with respect to it of the representations set forth in Section 6. Upon receipt
of such notice, wherever the word "you" is used in this Agreement (other than in
this Section 21), such word shall be deemed to refer to such Affiliate in lieu
of you. In the event that such Affiliate is so substituted as a purchaser
hereunder and such Affiliate thereafter transfers to you all of the Notes then
held by such Affiliate, upon receipt by the Company of notice of such transfer,
wherever the word "you" is used in this Agreement (other than in this
Section 21), such word shall no longer be deemed to refer to such Affiliate, but
shall refer to you, and you shall have all the rights of an original holder of
the Notes under this Agreement.

34

--------------------------------------------------------------------------------

22.  MISCELLANEOUS.

22.1.    Successors and Assigns.

        All covenants and other agreements contained in this Agreement by or on
behalf of any of the parties hereto bind and inure to the benefit of their
respective successors and assigns (including, without limitation, any subsequent
holder of a Note) whether so expressed or not.

22.2.    Payments Due on Non-Business Days.

        Anything in this Agreement or the Notes to the contrary notwithstanding,
any payment of principal of or Make-Whole Amount or interest on any Note that is
due on a date other than a Business Day shall be made on the next succeeding
Business Day without including the additional days elapsed in the computation of
the interest payable on such next succeeding Business Day.

22.3.    Severability.

        Any provision of this Agreement that is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall (to the full extent permitted by law) not invalidate or
render unenforceable such provision in any other jurisdiction.

22.4.    Construction.

        Each covenant contained herein shall be construed (absent express
provision to the contrary) as being independent of each other covenant contained
herein, so that compliance with any one covenant shall not (absent such an
express contrary provision) be deemed to excuse compliance with any other
covenant. Where any provision herein refers to action to be taken by any Person,
or which such Person is prohibited from taking, such provision shall be
applicable whether such action is taken directly or indirectly by such Person.

22.5.    Counterparts.

        This Agreement may be executed in any number of counterparts, each of
which shall be an original but all of which together shall constitute one
instrument. Each counterpart may consist of a number of copies hereof, each
signed by less than all, but together signed by all, of the parties hereto.

22.6.    Governing Law.

        THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND
THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK
EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE
THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

* * * * *

35

--------------------------------------------------------------------------------

        If you are in agreement with the foregoing, please sign the form of
agreement on the accompanying counterpart of this Agreement and return it to the
Company, whereupon the foregoing shall become a binding agreement between you
and the Company.

    Very truly yours,

TRIUMPH GROUP, INC.

 
 
By
 

--------------------------------------------------------------------------------

        Name:   John R. Bartholdson         Title:   Senior Vice President
and Chief Financial Officer

The foregoing is hereby agreed to
as of the date thereof.

PURCHASER

By
 

--------------------------------------------------------------------------------

    Name:
Title:    

36

--------------------------------------------------------------------------------

SCHEDULE A
INFORMATION RELATING TO PURCHASERS

--------------------------------------------------------------------------------

Purchaser Name   NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION

--------------------------------------------------------------------------------

Name in Which Note is Registered   NEW YORK LIFE INSURANCE AND ANNUITY
CORPORATION

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-1; $11,000,000
RB-1; $10,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Chase Manhattan Bank
New York, NY
ABA # 021-000-021
Credit: New York Life Insurance and Annuity Corporation
General Acct. # 323-8-47382
Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Description of Security:   5.59%
Series B Senior Notes due December 2, 2012     PPN:   896818 A@ 0     Due date
and application (as among principal, premium and interest) of the payment being
made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   New York Life Insurance and Annuity
Corporation
c/o New York Life Investment Management LLC
51 Madison Avenue
New York, NY 10010-1603     Attn:   Financial Management and Operations Group
Securities Operation, 2nd Floor     Fax:   (212) 447-4160

--------------------------------------------------------------------------------

Schedule A-1

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION

--------------------------------------------------------------------------------

Address for All Other Notices   New York Life Insurance and Annuity Corporation
c/o New York Life Investment Management LLC
51 Madison Avenue
New York, NY 10010-1603     Attn:   Securities Investment Group
Private Finance, 2nd Floor     Fax:   (212) 447-4122     with a copy of notices
regarding defaults or Events of Default to:     New York Life Insurance and
Annuity Corporation
c/o New York Life Investment Management LLC
51 Madison Avenue
New York, NY 10010-1603     Attn:   Office of the General Counsel
Investment Section, Room 1104     Fax:   (212) 576-8340

--------------------------------------------------------------------------------

Other Instructions   NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION     By:  
New York Life Investment Management LLC,
Its Investment Manager     By:            

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   New York Life Insurance and Annuity
Corporation
c/o New York Life Investment Management LLC
51 Madison Avenue, Room 1107
New York, NY 10010     Attn:   Parkin Lee

--------------------------------------------------------------------------------

Tax Identification Number   13-3044743    

--------------------------------------------------------------------------------

Schedule A-2

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   NEW YORK LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   NEW YORK LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-2; $8,500,000     RB-2;
$10,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Chase Manhattan Bank
New York, NY
ABA # 021-000-021
Credit: New York Life Insurance Company
General Acct. # 008-9-00687     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Description of Security:   5.59%
Series B Senior Notes
due December 2, 2012     PPN:   896818 A@ 0     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   New York Life Insurance Company
c/o New York Life Investment Management LLC
51 Madison Avenue
New York, NY 10010-1603     Attn:   Financial Management and Operations Group
Securities Operation, 2nd Floor     Fax:   (212) 447-4160

--------------------------------------------------------------------------------

Address for All Other Notices   New York Life Insurance Company
c/o New York Life Investment Management LLC
51 Madison Avenue
New York, NY 10010-1603     Attn:   Securities Investment Group
Private Finance, 2nd Floor     Fax:   (212) 447-4122     with a copy of notices
regarding defaults or Events of Default to:     New York Life Insurance Company
c/o New York Life Investment Management LLC
51 Madison Avenue
New York, NY 10010-1603     Attn:   Office of the General Counsel
Investment Section, Room 1104     Fax:   (212) 576-8340

--------------------------------------------------------------------------------

Schedule A-3

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   NEW YORK LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Other Instructions   NEW YORK LIFE INSURANCE COMPANY     By:            

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   New York Life Insurance Company
c/o New York Life Investment Management LLC
51 Madison Avenue, Room 1107
New York, NY 10010     Attn:   Parkin Lee

--------------------------------------------------------------------------------

Tax Identification Number   13-5582869

--------------------------------------------------------------------------------

Schedule A-4

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE
ACCOUNT

--------------------------------------------------------------------------------

Name in Which Note is Registered   NEW YORK LIFE INSURANCE AND ANNUITY
CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT Note
Registration Number; Principal Amount   RA-3; $500,000     Payment on Account of
Note   Method   Federal Funds Wire Transfer   Account Information   Chase
Manhattan Bank
New York, NY
ABA # 021-000-021
Credit: NYLIAC Separate BOLI 3 Broad Fixed
General Acct. # 323-8-39002     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   New York Life Insurance and Annuity
Corporation
Institutionally Owned Life Insurance Separate Account
c/o New York Life Investment Management LLC
51 Madison Avenue
New York, NY 10010-1603     Attn:   Financial Management and Operations Group
Securities Operation, 2nd Floor     Fax:   (212) 447-4160

--------------------------------------------------------------------------------

Address for All Other Notices   New York Life Insurance and Annuity Corporation
Institutionally Owned Life Insurance Separate Account
c/o New York Life Investment Management LLC
51 Madison Avenue
New York, NY 10010-1603     Attn:   Securities Investment Group
Private Finance, 2nd Floor     Fax:   (212) 447-4122     with a copy of notices
regarding defaults or Events of Default to:     New York Life Insurance and
Annuity Corporation
Institutionally Owned Life Insurance Separate Account
c/o New York Life Investment Management LLC
51 Madison Avenue
New York, NY 10010-1603     Attn:   Office of the General Counsel
Investment Section, Room 1104     Fax:   (212) 576-8340

--------------------------------------------------------------------------------

Schedule A-5

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE
ACCOUNT

--------------------------------------------------------------------------------

Other Instructions   NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT

--------------------------------------------------------------------------------

    By:   New York Life Investment Management LLC,
Its Investment Manager     By:        

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   New York Life Insurance and Annuity
Corporation
Institutionally Owned Life Insurance Separate Account
c/o New York Life Investment Management LLC
51 Madison Avenue, Room 1107
New York, NY 10010     Attn:   Parkin Lee

--------------------------------------------------------------------------------

Tax Identification Number   13-3044743

--------------------------------------------------------------------------------

Schedule A-6

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES

--------------------------------------------------------------------------------

Name in Which Note is Registered   THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE
UNITED STATES

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-4; $15,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   The Chase Manhattan Bank, N.A.
1251 Avenue of the Americas
New York, NY 10020
ABA # 021-000-021     Acct.:   The Equitable Life Assurance Society of the
United States
037-2-417394     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   The Equitable Life Assurance Society
of the United States
c/o Alliance Capital Management Corporation
1345 Avenue of the Americas, 38th Floor
New York, NY 10105     Attn:   Cosmo Valente

--------------------------------------------------------------------------------

Address for All Other Notices   The Equitable Life Assurance Society of the
United States
c/o Alliance Capital Management Corporation
1345 Avenue of the Americas, 38th Floor
New York, NY 10105     Attn:   Zev Halstuch

--------------------------------------------------------------------------------

Other Instructions   THE EQUITABLE LIFE ASSURANCE SOCIETY
OF THE UNITED STATES     By:        

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   The Equitable Life Assurance Society of the
United States
c/o Alliance Capital Management Corporation
1290 Avenue of the Americas, 12th Floor
New York, NY 10104     Attn:    Neville Hemmings

--------------------------------------------------------------------------------

Tax Identification Number   13-5570651    

--------------------------------------------------------------------------------

Schedule A-7

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES

--------------------------------------------------------------------------------

Name in Which Note is Registered   THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE
UNITED STATES

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-5; $10,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   The Chase Manhattan Bank, N.A.
1251 Avenue of the Americas
New York, NY 10020
ABA # 021-000-021     Acct.:   The Equitable Life Assurance Society of the
United States
037-2-413336     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   The Equitable Life Assurance Society
of the United States
c/o Alliance Capital Management Corporation
1345 Avenue of the Americas, 38th Floor
New York, NY 10105     Attn:   Cosmo Valente

--------------------------------------------------------------------------------

Address for All Other Notices   The Equitable Life Assurance Society of the
United States
c/o Alliance Capital Management Corporation
1345 Avenue of the Americas, 38th Floor
New York, NY 10105     Attn:   Zev Halstuch     Tel:   212-969-6993

--------------------------------------------------------------------------------

Other Instructions   THE EQUITABLE LIFE ASSURANCE SOCIETY
OF THE UNITED STATES     By:        

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   The Equitable Life Assurance Society of the
United States
c/o Alliance Capital Management Corporation
1290 Avenue of the Americas, 12th Floor
New York, NY 10104     Attn:   Neville Hemmings

--------------------------------------------------------------------------------

Tax Identification Number   13-5570651    

--------------------------------------------------------------------------------

Schedule A-8

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   SOUTHLAND LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   SOUTHLAND LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RB-3; $10,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   The Bank of New York
ABA # 021-000-018
BNF: IOC566     Attn:   P&I Department     Ref:   Southland Life Insurance
Company and 896818 A@ 0     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   5.59% Series B Senior Notes
due December 2, 2012     PPN:   896818 A@ 0     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Securities Accounting     Fax:   (770)
690-5057

--------------------------------------------------------------------------------

Address for All Other Notices   ING Investment Management LLC
100 Washington Avenue South, Suite 1635
Minneapolis, MN 55401-2121     Attn:   Chris Patton     Tel:   (612) 342-7576  
  Fax:   (612) 342-3561
 
 
with a copy to:
 
      ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Private Placements     Fax:   (770) 690-5057

--------------------------------------------------------------------------------

Other Instructions   SOUTHLAND LIFE INSURANCE COMPANY         By:   ING
Investment Management LLC, as Agent     By:        

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-9

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   SOUTHLAND LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   The Bank of New York
Free Receipt / Delivery Window
Window A — 3rd Floor
One Wall Street
New York, NY 10288
 
 
with a copy of the above transmittal to:     ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Joyce Resnick

--------------------------------------------------------------------------------

Tax Identification Number   75-0572420    

--------------------------------------------------------------------------------

Schedule A-10

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   SECURITY LIFE OF DENVER INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   SECURITY LIFE OF DENVER INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RB-4; $10,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   The Bank of New York
ABA # 021-000-018
BNF: IOC566     Attn:   P&I Department     Ref:   Security Life of Denver
Insurance Company and 896818 A@ 0     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   5.59% Series B Senior Notes
due December 2, 2012     PPN:   896818 A@ 0     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Securities Accounting     Fax:   (770)
690-5057

--------------------------------------------------------------------------------

Address for All Other Notices   ING Investment Management LLC
100 Washington Avenue South, Suite 1635
Minneapolis, MN 55401-2121     Attn:   Chris Patton     Tel:   (612) 342-7576  
  Fax:   (612) 342-3561
 
 
with a copy to:
 
      ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Private Placements     Fax:   (770) 690-5057

--------------------------------------------------------------------------------

Other Instructions   SECURITY LIFE OF DENVER INSURANCE COMPANY     By: ING
Investment Management LLC, as Agent     By:    

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-11

--------------------------------------------------------------------------------

Purchaser Name   SECURITY LIFE OF DENVER INSURANCE COMPANY

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   The Bank of New York
Free Receipt / Delivery Window
Window A — 3rd Floor
One Wall Street
New York, NY 10288
 
 
with a copy of the above transmittal to:     ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Joyce Resnick

--------------------------------------------------------------------------------

Tax Identification Number   84-0499703    

--------------------------------------------------------------------------------

Schedule A-12

--------------------------------------------------------------------------------

Purchaser Name   GOLDEN AMERICAN LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   GOLDEN AMERICAN LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RB-5; $10,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   The Bank of New York
ABA # 021-000-018
BNF: IOC566 — Income Collections     Attn:   William Cashman     Ref:   Golden
American Life Insurance Company (MVA Acct.)
Acct. # 136374 and 896818 A@ 0     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   5.59% Series B Senior Notes
due December 2, 2012     PPN:   896818 A@ 0     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Securities Accounting     Fax:   (770)
690-5057

--------------------------------------------------------------------------------

Address for All Other Notices   ING Investment Management LLC
100 Washington Avenue South, Suite 1635
Minneapolis, MN 55401-2121     Attn:   Chris Patton     Tel:   (612) 342-7576  
  Fax:   (612) 342-3561
 
 
with a copy to:     ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Private Placements     Fax:   (770) 690-5057

--------------------------------------------------------------------------------

Other Instructions   GOLDEN AMERICAN LIFE INSURANCE COMPANY     By: ING
Investment Management LLC, as Agent     By:            

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-13

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   GOLDEN AMERICAN LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   The Bank of New York
Free Receipt / Delivery Window
Window A — 3rd Floor
One Wall Street
New York, NY 10288
 
 
with a copy of the above transmittal to:     ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Joyce Resnick

--------------------------------------------------------------------------------

Tax Identification Number   41-0991508    

--------------------------------------------------------------------------------

Schedule A-14

--------------------------------------------------------------------------------

Purchaser Name   RELIASTAR LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   RELIASTAR LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RB-6; $7,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   The Bank of New York
IOC 566 — INST'L CUSTODY
ABA # 021-000-018     Ref:   Reliastar Life Insurance Company
Acct. # 187035 and 896818 A@ 0     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   5.59% Series B Senior Notes
due December 2, 2012     PPN:   896818 A@ 0     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Securities Accounting     Fax:   (770)
690-5057

--------------------------------------------------------------------------------

Address for All Other Notices   ING Investment Management LLC
100 Washington Avenue South, Suite 1635
Minneapolis, MN 55401-2121     Attn:   Chris Patton     Tel:   (612) 342-7576  
  Fax:   (612) 342-3561
 
 
with a copy to:     ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Private Placements     Fax:   (770) 690-5057

--------------------------------------------------------------------------------

Other Instructions   RELIASTAR LIFE INSURANCE COMPANY         By:   ING
Investment Management LLC, as Agent     By:        

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-15

--------------------------------------------------------------------------------

Purchaser Name   RELIASTAR LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   The Bank of New York
Free Receipt / Delivery Window
Window A — 3rd Floor
One Wall Street
New York, NY 10288
 
 
with a copy of the above transmittal to:     ING Investment Management LLC
5780 Powers Ferry Road, NW, Suite 300
Atlanta, GA 30327-4349     Attn:   Joyce Resnick

--------------------------------------------------------------------------------

Tax Identification Number       41-0451140

--------------------------------------------------------------------------------

Schedule A-16

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-6; $3,500,000     RB-7;
$2,800,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Citibank, N.A.
New York, NY
ABA # 021-000-089
For MassMutual Long-Term Pool
Acct. # 30510669     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Description of Security:   5.59%
Series B Senior Notes
due December 2, 2012     PPN:   896818 A@ 0     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   Massachusetts Mutual Life Insurance
Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Custody and Collection Department
 
 
With telephone advice of payment to:     David L. Babson & Company Inc.
Securities Custody and Collection Department     Tel:   413-226-1803 / 1889

--------------------------------------------------------------------------------

Address for All Other Notices   Massachusetts Mutual Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Investment Division

--------------------------------------------------------------------------------

Other Instructions   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY     By:   David
L. Babson & Company Inc. as Investment Adviser     By        

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-17

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   Massachusetts Mutual Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Chris DeFrancis

--------------------------------------------------------------------------------

Tax Identification Number   04-1590850

--------------------------------------------------------------------------------

Schedule A-18

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-7; $2,750,000
RB-8; $3,100,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Citibank, N.A.
New York, NY
ABA # 021-000-089
For MassMutual Pension Management
Acct. # 30510538
Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes due December 2, 2012     PPN:  
896818 A* 2     Description of Security:   5.59% Series B Senior Notes due
December 2, 2012     PPN:   896818 A@ 0     Due date and application (as among
principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   Massachusetts Mutual Life Insurance
Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Custody and Collection Department  
                With telephone advice of payment to:     David L. Babson &
Company Inc.
Securities Custody and Collection Department     Tel:   413-226-1803 / 1839

--------------------------------------------------------------------------------

Address for All Other Notices   Massachusetts Mutual Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Investment Division

--------------------------------------------------------------------------------

Other Instructions   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY    
By:    David L. Babson & Company Inc.
as Investment Adviser     By:            

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-19

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   Massachusetts Mutual Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Chris DeFrancis

--------------------------------------------------------------------------------

Tax Identification Number   04-1590850    

--------------------------------------------------------------------------------

Schedule A-20

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-8; $1,000,000
RB-9; $800,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Citibank, N.A.
New York, NY
ABA # 021-000-089
For MassMutual Spot-Priced Contract
Acct. # 30510597     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Description of Security:   5.59%
Series B Senior Notes due December 2, 2012     PPN:   896818 A@ 0     Due date
and application (as among principal, premium and interest) of the payment being
made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   Massachusetts Mutual Life Insurance
Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Custody and Collection Department  
                With telephone advice of payment to:     David L. Babson &
Company Inc.
Securities Custody and Collection Department     Tel:   413-226-1807 / 1839

--------------------------------------------------------------------------------

Address for All Other Notices   Massachusetts Mutual Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Investment Division

--------------------------------------------------------------------------------

Other Instructions   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY    
By:    David L. Babson & Company Inc. as Investment Adviser     By:            

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-21

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   Massachusetts Mutual Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Chris DeFrancis

--------------------------------------------------------------------------------

Tax Identification Number   04-1590850

--------------------------------------------------------------------------------

Schedule A-22

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RB-10; $1,200,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Citibank, N.A.
New York, NY
ABA # 021-000-089
For MassMutual Structured Settlement Funde
Acct. # 30510634     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   5.59% Series B Senior Notes due December 2, 2012     PPN:  
896818 A@ 0     Due date and application (as among principal, premium and
interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   Massachusetts Mutual Life Insurance
Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Custody and Collection Department  
                With telephone advice of payment to:     David L. Babson &
Company Inc.
Securities Custody and Collection Department     Tel:   413-226-1807 / 1839

--------------------------------------------------------------------------------

Address for All Other Notices   Massachusetts Mutual Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Investment Division

--------------------------------------------------------------------------------

Other Instructions   MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY    
By:    David L. Babson & Company Inc. as Investment Adviser     By:            

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   Massachusetts Mutual Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Chris DeFrancis

--------------------------------------------------------------------------------

Tax Identification Number   04-1590850

--------------------------------------------------------------------------------

Schedule A-23

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   C.M. LIFE INSURANCE COMPANY c/o MASSACHUSETTS MUTUAL
LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   C.M. LIFE INSURANCE COMPANY c/o MASSACHUSETTS
MUTUAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-9; $2,750,000
RB-11; $1,800,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Citibank, N.A.
New York, NY
ABA # 021-000-089
For C.M. Life Segment 43 — Universal Life
Acct. # 30510546     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Description of Security:   5.59%
Series B Senior Notes due December 2, 2012     PPN:   896818 A@ 0     Due date
and application (as among principal, premium and interest) of the payment being
made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   C.M. Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Custody and Collection Department  
                With telephone advice of payment to:     David L. Babson &
Company Inc.
Securities Custody and Collection Department     Tel:   413-226-1803 / 1839

--------------------------------------------------------------------------------

Address for All Other Notices   C.M.Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Investment Division

--------------------------------------------------------------------------------

Other Instructions   C.M. LIFE INSURANCE COMPANY
c/o MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY     By:    David L. Babson &
Company Inc.
as Investment Sub-Adviser     By:            

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-24

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   C.M. LIFE INSURANCE COMPANY c/o MASSACHUSETTS MUTUAL
LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   C.M. Life Insurance Company
c/o Massachusetts Mutual Life Insurance Company
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115
Attn:    Chris DeFrancis

--------------------------------------------------------------------------------

Tax Identification Number   06-1041383

--------------------------------------------------------------------------------

Schedule A-25

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   MASSMUTUAL ASIA LIMITED

--------------------------------------------------------------------------------

Name in Which Note is Registered   GERLACH & CO.

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RB-12; $300,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Gerlach & Co.
c/o Citibank, N.A.
New York, NY
ABA # 021-000-089     Attn:   Judy Rock     Re:   MassMutual Asia
Concentration Acct. # 36112805     Re: (See "Accompanying information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   5.59% Series B Senior Notes
due December 2, 2012     PPN:   a896818 A@ 0     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   MassMutual Asia Limited
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Custody and Collection Department  
                With telephone advice of payment to:     David L. Babson &
Company Inc.
Securities Custody and Collection Department     Tel:   413-226-1807 / 1839

--------------------------------------------------------------------------------

Address for All Other Notices   MassMutual Asia Limited
c/o David L. Babson & Company Inc.
1500 Main Street, Suite 2800
Springfield, MA 01115     Attn:   Securities Investment Division                
  with notification of corporate action to:     Citgroup Global Securities
Services
3800 Citibank Center Tampa
Building B, Floor 3
Tampa, FL 33610-9122     Attn:   Corporate Action Department

--------------------------------------------------------------------------------

Other Instructions   MASSMUTUAL ASIA LIMITED     By:    David L. Babson &
Company Inc.
as Investment Adviser     By:            

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-26

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   MASSMUTUAL ASIA LIMITED

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   Citibank, N.A.
333 West 34th Street
Third Floor Securities Vault
New York, NY 10001     Re:   Acct. # 849195

--------------------------------------------------------------------------------

Tax Identification Number   None

--------------------------------------------------------------------------------

Schedule A-27

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   HARTFORD FIRE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   HARTFORD FIRE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-10; $10,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   JP Morgan Chase
4 New York Plaza
New York, NY 10004
ABA # 021-000-021
Chase NYC/Cust
A/C # 900-9-000200 for further credit to G06245-FIR     Attn:   Bond
Interest/Principal — Triumph Group, Inc.     Re:    (See "Accompanying
information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   Hartford Investment Management Company
c/o Portfolio Support
P.O. Box 1744
Hartford, CT 06144-1744     Fax:   860-297-8875 / 8876

--------------------------------------------------------------------------------

Address for All Other Notices   Hartford Investment Management Company
c/o Investment Department — Private Placements
P.O. Box 1744
Hartford, CT 06144-1744     Fax:   860-297-8884

--------------------------------------------------------------------------------

Other Instructions   HARTFORD FIRE INSURANCE COMPANY     By:    Hartford
Investment Services, Inc.,
its Agent and Attorney-in-Fact     By        

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   JP Morgan Chase
North America Insurance
3 MetroTech Center, 5th Floor
Brooklyn, NY 11245     Attn:   Bettye Carrera     Custody Account # G06245-FIR
must appear on outside of envelope

--------------------------------------------------------------------------------

Tax Identification Number   06-0383750

--------------------------------------------------------------------------------

Schedule A-28

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   HARTFORD LIFE AND ACCIDENT INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   HARTFORD LIFE AND ACCIDENT INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-11; $10,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   JP Morgan Chase
4 New York Plaza
New York, NY 10004
ABA # 021-000-021
Chase NYC/Cust
A/C # 900-9-000200 for further credit to G06956-EBD     Attn:   Bond
Interest/Principal — Triumph Group, Inc.     Re:    (See "Accompanying
information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   Hartford Investment Management Company
c/o Portfolio Support
P.O. Box 1744
Hartford, CT 06144-1744     Fax:   860-297-8875 / 8876

--------------------------------------------------------------------------------

Address for All Other Notices   Hartford Investment Management Company
c/o Investment Department — Private Placements
P.O. Box 1744
Hartford, CT 06144-1744     Fax:   860-297-8884

--------------------------------------------------------------------------------

Other Instructions   HARTFORD LIFE AND ACCIDENT INSURANCE COMPANY    
By:    Hartford Investment Services, Inc.,
its Agent and Attorney-in-Fact     By:            

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   JP Morgan Chase
North America Insurance
3 MetroTech Center, 5th Floor
Brooklyn, NY 11245     Attn:   Bettye Carrera     Custody Account # G06956-EBD
must appear on outside of envelope

--------------------------------------------------------------------------------

Tax Identification Number   06-0838648

--------------------------------------------------------------------------------

Schedule A-29

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   THE CANADA LIFE ASSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   J. ROMEO & CO.

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-12; $3,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Chase Manhattan Bank
ABA # 021-000-021
A/C # 900-9-000200
Trust Acct. # G52708
Re: (see "Accompanying Information" below)                   for call or
maturity payment:
Chase Manhattan Bank
ABA # 021-000-021
A/C # 900-9-000192
Trust Acct. # G52708
Re: (see "Accompanying Information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes due December 2, 2012     PPN:  
896818 A* 2     Due date and application (as among principal, premium and
interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   Chase Manhattan Bank
North American Insurance
3 Chase MetroTech Center, 6th Floor
Brooklyn, NY 11245     Attn:   Doll Balbadar                   with a copy to:
The Canada Life Assurance Company
330 University Ave., SP-12
Securities Accounting
Toronto, ON M5G 1R8

--------------------------------------------------------------------------------

Address for All Other Notices   The Canada Life Assurance Company
330 University Ave. (SP-11)
Toronto, ON M5G 1R8     Attn:   Paul English
US Investments Division

--------------------------------------------------------------------------------

Other Instructions   THE CANADA LIFE ASSURANCE COMPANY
 
 
By:
 
 
 
     

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-30

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   THE CANADA LIFE ASSURANCE COMPANY

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   Chase Manhattan Bank
4 New York Plaza, 1st Floor
New York, NY 10004-2477     Attn:   Mike Jones
Outsourcing Department     Re:   The Canada Life Assurance Company
Trust Acct. # G52708

--------------------------------------------------------------------------------

Tax Identification Number   38-0397420

--------------------------------------------------------------------------------

Schedule A-31

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   THE CANADA LIFE ASSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   J. ROMEO & CO.

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RA-13; $2,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Chase Manhattan Bank
ABA # 021-000-021
A/C # 900-9-000200
Trust Acct. # G08808     Re: (see "Accompanying Information" below)            
      for call or maturity payment:
Chase Manhattan Bank
ABA # 021-000-021
A/C # 900-9-000192
Trust Acct. # G08808     Re: (see "Accompanying Information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   6.06% Series A Senior Notes
due December 2, 2012     PPN:   896818 A* 2     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments   Chase Manhattan Bank
North American Insurance
3 Chase MetroTech Center, 6th Floor
Brooklyn, NY 11245     Attn:   Doll Balbadar                   with a copy to:
The Canada Life Assurance Company
330 University Ave., SP-12
Securities Accounting
Toronto, ON M5G 1R8

--------------------------------------------------------------------------------

Address for All Other Notices   The Canada Life Assurance Company
330 University Ave. (SP-11)
Toronto, ON M5G 1R8         Attn:   Paul English
US Investments Division

--------------------------------------------------------------------------------

Other Instructions   THE CANADA LIFE ASSURANCE COMPANY     By:            

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

Schedule A-32

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   THE CANADA LIFE ASSURANCE COMPANY

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   Chase Manhattan Bank
4 New York Plaza, 1st Floor
New York, NY 10004-2477     Attn:   Mike Jones
Outsourcing Department     Re:   The Canada Life Assurance Company
Trust Acct. # G08808

--------------------------------------------------------------------------------

Tax Identification Number   38-0397420

--------------------------------------------------------------------------------

Schedule A-33

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   AMERITAS LIFE INSURANCE CORP.

--------------------------------------------------------------------------------

Name in Which Note is Registered   AMERITAS LIFE INSURANCE CORP.

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RB-13; $1,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   U.S. Bank
ABA # 104-000-029
Ameritas Life Insurance Corp.
Acct. # 1-494-0070-0188     Re:    (see "Accompanying Information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   5.59% Series B Senior Notes
due December 2, 2012     PPN:   896818 A@ 0     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments and Written Confirmation of Wire
Transfers   Ameritas Life Insurance Corp.
5900 "O' Street
Lincoln, NE 68510-2234     Attn:   James Mikus     Fax:   402-467-6970

--------------------------------------------------------------------------------

Address for All Other Notices   Ameritas Life Insurance Corp.
5900 "O' Street
Lincoln, NE 68510-2234     Attn:   James Mikus

--------------------------------------------------------------------------------

Other Instructions   AMERITAS LIFE INSURANCE CORP.     By: Ameritas Investment
Advisors Inc., as Agent     By:            

--------------------------------------------------------------------------------

Name: Andrew S. White
Title: Vice President—Fixed Income Securities

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   Ameritas Investment Advisors, Inc.
390 North Cotner Boulevard
Lincoln, NE 68505-2319     Attn: Andrew S. White Tax Identification Number  
47-0098400

--------------------------------------------------------------------------------

Schedule A-34

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   AMERITAS VARIABLE LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   AMERITAS VARIABLE LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RB-14; $1,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Bankers Trust Company
ABA # 021-001-033     Attn:   Private Placement Processing     Acct.#:  
99-911-145     FFC:   Ameritas Variable Life Insurance Company     Acct.#:  
097223     Re: (see "Accompanying Information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   5.59% Series B Senior Notes
due December 2, 2012     PPN:   896818 A@ 0     Due date and application (as
among principal, premium and interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments and Written Confirmation of Wire
Transfers   Ameritas Variable Life Insurance Company
c/o Ameritas Life Insurance Corp.
5900 "O' Street
Lincoln, NE 68510-2234     Attn:   James Mikus     Fax:   402-467-6970

--------------------------------------------------------------------------------

Address for All Other Notices   Ameritas Variable Life Insurance Company
c/o Ameritas Life Insurance Corp.
5900 "O' Street
Lincoln, NE 68510-2234     Attn:   James Mikus

--------------------------------------------------------------------------------

Other Instructions   AMERITAS VARIABLE LIFE INSURANCE COMPANY    
By:    Ameritas Investment Advisors Inc., as Agent     By:            

--------------------------------------------------------------------------------

Name: Andrew S. White
Title: Vice President—Fixed Income Securities

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   Ameritas Investment Advisors, Inc.
390 North Cotner Boulevard
Lincoln, NE 68505-2319     Attn:   Andrew S. White

--------------------------------------------------------------------------------

Tax Identification Number   47-0657746

--------------------------------------------------------------------------------

Schedule A-35

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Purchaser Name   ACACIA NATIONAL LIFE INSURANCE COMPANY

--------------------------------------------------------------------------------

Name in Which Note is Registered   SALKELD & CO.

--------------------------------------------------------------------------------

Note Registration Number; Principal Amount   RB-15; $1,000,000

--------------------------------------------------------------------------------

Payment on Account of Note               Method   Federal Funds Wire Transfer  
Account Information   Bankers Trust New York
ABA # 021-001-033
For credit to acct. # 99911145
Ref: Acacia National Life Insurance Company # 093596
Re: (see "Accompanying Information" below)

--------------------------------------------------------------------------------

Accompanying Information   Name of Issuer:   TRIUMPH GROUP, INC.     Description
of Security:   5.59% Series B Senior Notes due December 2, 2012     PPN:  
896818 A@ 0     Due date and application (as among principal, premium and
interest) of the payment being made.

--------------------------------------------------------------------------------

Address for Notices Related to Payments and Written Confirmation of Wire
Transfers   Acacia National Life Insurance Company
c/o Ameritas Investment Advisors Inc.
390 North Cotner Boulevard
Lincoln, NE 68505     Fax:   402-467-6970

--------------------------------------------------------------------------------

Address for All Other Notices   Acacia National Life Insurance Company
c/o Ameritas Investment Advisors Inc.
390 North Cotner Boulevard
Lincoln, NE 68505

--------------------------------------------------------------------------------

Other Instructions   ACACIA NATIONAL LIFE INSURANCE COMPANY
By: Ameritas Investment Advisors Inc., as Agent     By:            

--------------------------------------------------------------------------------

Name: Andrew S. White
Title: Vice President—Fixed Income Securities

--------------------------------------------------------------------------------

Instructions for Delivery of Notes   Bankers Trust Company
Corporate Receive Window 44
16 Wall Street, 4th Floor, M.S. 4045
New York, NY 10005     Ref: Acacia National Life Insurance Company # 093596

--------------------------------------------------------------------------------

Tax Identification Number   52-1009067

--------------------------------------------------------------------------------

Schedule A-36

--------------------------------------------------------------------------------

SCHEDULE B

DEFINED TERMS

        As used herein, the following terms have the respective meanings set
forth below or set forth in the Section hereof following such term:

        "Acceptable Bank" means any bank or trust company (a) which is organized
under the laws of the United States of America or any State thereof, (b) which
has capital, surplus and undivided profits aggregating at least $100,000,000,
and (c) whose long-term unsecured debt obligations (or the long-term unsecured
debt obligations of the bank holding company owning all of the capital stock of
such bank or trust company) shall have been given a rating of "A" or better by
S&P, "A2" or better by Moody's or an equivalent rating by any other credit
rating agency of recognized national standing.

        "Affiliate" means, at any time, and with respect to any Person, any
other Person that at such time directly or indirectly through one or more
intermediaries Controls, or is Controlled by, or is under common Control with,
such first Person. As used in this definition, "Control" means the possession,
directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting
securities, by contract or otherwise. Unless the context otherwise clearly
requires, any reference to an "Affiliate" is a reference to an Affiliate of the
Company.

        "Anti-Terrorism Order" means, United States of America Executive Order
No. 13,224 of September 23, 2001, Blocking Property and Prohibiting Transactions
With Persons Who Commit, Threaten to Commit, or Support Terrorism, 66 Fed. Reg.
49,049 (2001).

        "Asset Disposition" means any Transfer except:

        (a)  any

        (i)    Transfer from a Subsidiary to the Company or a Wholly-Owned
Subsidiary;

        (ii)  Transfer from the Company to a Wholly-Owned Subsidiary; and

        (iii)  Transfer from the Company to a Subsidiary (other than a
Wholly-Owned Subsidiary) or from a Subsidiary to another Subsidiary, which in
either case is for Fair Market Value,

so long as immediately before and immediately after the consummation of any such
Transfer and after giving effect thereto, no Default or Event of Default exists;
and

        (b)  any Transfer made in the ordinary course of business and involving
only property that is either (i) inventory held for sale or (ii) equipment,
fixtures, supplies or materials no longer required in the operation of the
business of the Company or any of its Subsidiaries or that is obsolete.

        "Attributable Debt" means, as to any particular lease relating to a
Sale-and-Leaseback Transaction, the present value of all Lease Rentals required
to be paid by the Company or any Subsidiary under such lease during the
remaining term thereof (determined in accordance with generally accepted
financial practice using a discount factor equal to the interest rate implicit
in such lease if known or, if not known, of 5.59% per annum).

        "Business Day" means any day other than a Saturday, a Sunday or a day on
which commercial banks in New York City are required or authorized to be closed.

        "Capital Lease" means, at any time, a lease with respect to which the
lessee is required concurrently to recognize the acquisition of an asset and the
incurrence of a liability in accordance with GAAP.

Schedule B-1

--------------------------------------------------------------------------------

        "Capital Lease Obligation" means, with respect to any Person and a
Capital Lease, the amount of the obligation of such Person as the lessee under
such Capital Lease which would, in accordance with GAAP, appear as a liability
on a balance sheet of such Person.

        "Change in Control" means if any person (as such term is used in
section 13(d) and section 14(d)(2) of the Exchange Act as in effect on the date
of the Closing) or related persons constituting a group (as such term is used in
Rule 13d-5 under the Exchange Act) (except any such person or related persons
disclosed as a "beneficial owner" in the Company's Proxy Statement For 2002
Annual Meeting Of Stockholders To Be Held On July 15, 2002, filed with the
Securities and Exchange Commission on June 19, 2002), become the "beneficial
owners" (as such term is used in Rule 13d-3 under the Exchange Act as in effect
on the date of the Closing), directly or indirectly, of more than 50% of the
issued and outstanding common stock of all classes then outstanding of the
Company's common stock.

        "Closing" is defined in Section 3.

        "Code" means the Internal Revenue Code of 1986, as amended from time to
time, and the rules and regulations promulgated thereunder from time to time.

        "Company" means Triumph Group, Inc., a Delaware corporation.

        "Confidential Information" is defined in Section 20.

        "Consolidated Adjusted EBITDA" means, with respect to any period,
Consolidated Net Income (before extraordinary items) for such period plus the
amount of income tax expense, interest expense, depreciation and amortization
expense deducted in determining such Consolidated Net Income (before
extraordinary items) provided that (a) the results of operations of any
Subsidiary or operating business acquired (by merger, purchase of assets or
stock or other similar transaction) during such period shall be included in the
determination of Consolidated Adjusted EBITDA for such period assuming such
acquisition had occurred on the first day of such period and (b) the results of
operations of any Subsidiary or operating business sold or otherwise
substantially disposed of (by merger, sale of assets or other similar
transaction) after the beginning of such period shall be excluded in the
determination of Consolidated Adjusted EBITDA for such period.

        "Consolidated Assets" means, at any time, the total assets of the
Company and its Subsidiaries which would be shown as assets on a consolidated
balance sheet of the Company and its Subsidiaries as of such time prepared in
accordance with GAAP, after eliminating all amounts properly attributable to
minority interests, if any, in the stock and surplus of Subsidiaries.

        "Consolidated Debt" means, at any time, the total of all Indebtedness of
the Company and its Subsidiaries outstanding at such time (including, without
limitation, Existing Seller Debt but excluding Excluded PIK Subordinated
Indebtedness incurred after the date of Closing) after eliminating all
offsetting debits and credits between the Company and its Subsidiaries and all
other items required to be eliminated in the course of the preparation of
consolidated financial statements of the Company and its Subsidiaries in
accordance with GAAP.

        "Consolidated Income Available for Fixed Charges" means, with respect to
any period, Consolidated Net Income for such period plus all amounts deducted in
the computation thereof on account of (a) Fixed Charges and (b) taxes imposed on
or measured by income or excess profits.

        "Consolidated Net Income" means, with respect to any period, the net
income (or loss) of the Company and its Subsidiaries for such period (taken as a
cumulative whole), as determined in accordance with GAAP, after eliminating all
offsetting debits and credits between the Company and its Subsidiaries and all
other items required to be eliminated in the course of the preparation of
consolidated financial statements of the Company and its Subsidiaries in
accordance with GAAP, provided that there shall be excluded any aggregate net
gain (but not any aggregate net loss) during

Schedule B-2

--------------------------------------------------------------------------------

such period arising from the sale, conversion, exchange or other disposition of
capital assets (such term to include, without limitation, (a) all non-current
assets and, without duplication, (b) the following, whether or not current: all
fixed assets, whether tangible or intangible, all inventory sold in conjunction
with the disposition of fixed assets, and all Securities).

        "Consolidated Net Worth" means, as of any date of determination, total
stockholders' equity of the Company and its Subsidiaries as of such date
determined and consolidated in accordance with GAAP.

        "Control Event" means:

        (a)  the execution by the Company or any of its Subsidiaries or
Affiliates of any agreement or letter of intent with respect to any proposed
transaction or event or series of transactions or events which, individually or
in the aggregate, may reasonably be expected to result in a Change in Control,

        (b)  the execution of any written agreement which, when fully performed
by the parties thereto, would result in a Change in Control, or

        (c)  the making of any written offer by any person (as such term is used
in section 13(d) and section 14(d)(2) of the Exchange Act as in effect on the
date of the Closing) or related persons constituting a group (as such term is
used in Rule 13d-5 under the Exchange Act as in effect on the date of the
Closing) to the holders of the common stock of the Company, which offer, if
accepted by the requisite number of holders, would result in a Change in
Control.

        "Credit Agreement" means that certain Amended and Restated Credit
Agreement, dated October 16, 2000, among the Company, PNC Bank, National
Association, First Union National Bank, Bank of America, N.A., and Mellon Bank,
N.A., as amended by that certain First Amendment to Loan Documents among the
Company and the financial institutions listed on the signature pages thereto
dated as of February 12, 2002.

        "Credit Agreement Amendments" means (a) that certain Second Amendment to
Loan Documents dated on or about the date hereof, substantially in the form of
Exhibit 4.11(a) and (b) that certain Third Amendment to Loan Documents dated on
or about the date hereof, substantially in the form of Exhibit 4.11(b).

        "Debt" means, with respect to any Person, without duplication,

        (a)  its liabilities for borrowed money;

        (b)  its liabilities for the deferred purchase price of property
acquired by such Person (excluding accounts payable arising in the ordinary
course of business but including, without limitation, all liabilities created or
arising under any conditional sale or other title retention agreement with
respect to any such property);

        (c)  its Capital Lease Obligations;

        (d)  all liabilities for borrowed money secured by any Lien with respect
to any property owned by such Person (whether or not it has assumed or otherwise
become liable for such liabilities); and

        (e)  any Guaranty of such Person with respect to liabilities of a type
described in any of clauses (a) through (d) hereof.

        "Debt Prepayment Application" means, with respect to any Transfer of
property, the application by the Company or its Subsidiaries of cash in an
amount equal to the Net Proceeds Amount with respect to such Transfer to pay
Senior Funded Debt (other than Senior Funded Debt owing to the Company, any of
its Subsidiaries or any Affiliate and Senior Funded Debt in respect of any
revolving credit or similar credit facility providing the Company or any of its
Subsidiaries with the right to obtain loans or other extensions of credit from
time to time, except to the extent that in connection with such payment

Schedule B-3

--------------------------------------------------------------------------------

of Senior Funded Debt the availability of credit under such credit facility is
permanently reduced by an amount not less than the amount of such proceeds
applied to the payment of such Senior Funded Debt), provided that, prior to
making such payment of Senior Funded Debt, the Company or its Subsidiaries shall
apply the cash portion of any proceeds received at the time of such Transfer to
Senior Funded Debt secured by Liens on property of the Company or any Subsidiary
up to an amount equal to, but not in excess of, the Fair Market Value of the
property subject to such Lien, provided further that in the course of making
such application the Company shall prepay each outstanding Note in accordance
with Section 8.2 in a principal amount which, when added to the Make-Whole
Amount applicable thereto, equals the Ratable Portion for such Note.

        "Default" means an event or condition the occurrence or existence of
which would, with the lapse of time or the giving of notice or both, become an
Event of Default.

        "Default Rate" means that rate of interest that is the greater of (a) 2%
per annum above the rate of interest stated in clause (a) of the first paragraph
of the Notes or (b) 2% over the rate of interest publicly announced by PNC Bank,
National Association, in Pittsburgh, Pennsylvania, as its "base" or "prime"
rate.

        "Department of the Treasury Rule" means the United States of America
Department of the Treasury rule entitled Blocked Persons, Specially Designated
Nationals, Specifically Designated Terrorists, Foreign Terrorist Organizations,
and Specially Designated Narcotics Traffickers: Additional Designations of
Terrorism-Related Blocked Persons, 66 Fed. Reg. 54,404 (2001) (to be codified at
appendix A to 31 CFR chapter V), as amended.

        "Disposition Value" means, at any time, with respect to any property,

        (a)  in the case of property that does not constitute Subsidiary Stock,
the book value thereof, valued at the time of such disposition in good faith by
the Company, and

        (b)  in the case of property that constitutes Subsidiary Stock, an
amount equal to that percentage of book value of the assets of the Subsidiary
that issued such stock as is equal to the percentage that the book value of such
Subsidiary Stock represents of the book value of all of the outstanding capital
stock of such Subsidiary (assuming, in making such calculations, that all
Securities convertible into such capital stock are so converted and giving full
effect to all transactions that would occur or be required in connection with
such conversion) determined at the time of the disposition thereof, in good
faith by the Company.

        "Environmental Complaint" means any written complaint setting forth a
cause of action for personal or property damage or natural resource damage or
equitable relief, order, notice of violation, citation, request for information
issued pursuant to any Environmental Laws by a Governmental Authority, subpoena
or other written notice asserting or threatening a claim relating to, arising
out of, or issued pursuant to any of the Environmental Laws or any Environmental
Conditions, as the case may be.

        "Environmental Conditions" means any conditions of the environment,
including the workplace, the ocean, natural resources (including flora or
fauna), soil, surface water, groundwater, any actual or potential drinking water
supply sources, substrata or the ambient air, relating to or arising out of, or
caused by the use, handling, storage, treatment, recycling, generation,
transportation, release, spilling, leaking, pumping, emptying, discharging,
injecting, escaping, leaching, disposal, dumping, threatened release or other
management or mismanagement of Regulated Substances resulting from the use of,
or operations on, the property of the Company or any Subsidiary.

        "Environmental Laws" means any and all Federal, state, local, and
foreign statutes, laws, regulations, ordinances, rules, judgments, orders,
decrees, permits, concessions, grants, franchises, licenses, agreements or
governmental restrictions relating to pollution and the protection of the

Schedule B-4

--------------------------------------------------------------------------------

environment or the release of any materials into the environment, including but
not limited to those related to hazardous substances or wastes, air emissions
and discharges to waste or public systems.

        "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and the rules and regulations promulgated thereunder
from time to time in effect.

        "ERISA Affiliate" means any trade or business (whether or not
incorporated) that is treated as a single employer together with the Company
under section 414 of the Code.

        "Event of Default" is defined in Section 11.

        "Exchange Act" means the Securities Exchange Act of 1934, as amended.

        "Excluded PIK Subordinated Indebtedness" means any Debt of the Company
which (a) by its terms is subordinated to the Debt evidenced by the Notes on the
same terms and conditions as any other Debt to which it is subordinated and
(b) has no terms that require any payment of principal or interest prior to
June 2, 2013.

        "Existing Seller Debt" means the debt obligations existing on the date
of Closing under the Indedtedness set forth in items 3 through 7, inclusive, of
Schedule 5.15 hereof.

        "Fair Market Value" means, at any time and with respect to any property,
the sale value of such property that would be realized in an arm's-length sale
at such time between an informed and willing buyer and an informed and willing
seller (neither being under a compulsion to buy or sell).

        "Financing Documents" means, collectively, this Agreement, the Other
Agreements, the Notes and the Subsidiary Guaranty.

        "Fixed Charges" means, with respect to any period, the sum of
(a) Interest Charges for such period and (b) Lease Rentals for such period.

        "Fixed Charges Coverage Ratio" means, at any time, the ratio of
(a) Consolidated Income Available for Fixed Charges for the period of four
consecutive fiscal quarters ending at, or most recently ended prior to, such
time to (b) Fixed Charges for such period.

Schedule B-5

--------------------------------------------------------------------------------

        "Funded Debt" means, with respect to any Person, all Debt of such Person
which by its terms or by the terms of any instrument or agreement relating
thereto matures, or which is otherwise payable or unpaid, one year or more from,
or is directly or indirectly renewable or extendible at the option of the
obligor in respect thereof to a date one year or more (including, without
limitation, an option of such obligor under a revolving credit or similar
agreement obligating the lender or lenders to extend credit over a period of one
year or more) from, the date of the creation thereof.

        "GAAP" means generally accepted accounting principles as in effect from
time to time in the United States of America.

        "Governmental Authority" means the government of:

        (a)  the United States of America or any State or other political
subdivision thereof, or

        (b)  any jurisdiction in which the Company or any Subsidiary conducts
all or any part of its business, or which asserts jurisdiction over any
properties of the Company or any Subsidiary, or

        (c)  any entity exercising executive, legislative, judicial, regulatory
or administrative functions of, or pertaining to, any such government.

        "Guaranty" means, with respect to any Person, any obligation (except the
endorsement in the ordinary course of business of negotiable instruments for
deposit or collection) of such Person guaranteeing or in effect guaranteeing any
indebtedness, dividend or other obligation of any other Person in any manner,
whether directly or indirectly, including (without limitation) obligations
incurred through an agreement, contingent or otherwise, by such Person:

        (a)  to purchase such indebtedness or obligation or any property
constituting security therefor;

        (b)  to advance or supply funds (i) for the purchase or payment of such
indebtedness or obligation, or (ii) to maintain any working capital or other
balance sheet condition or any income statement condition of any other Person or
otherwise to advance or make available funds for the purchase or payment of such
indebtedness or obligation;

        (c)  to lease properties or to purchase properties or services primarily
for the purpose of assuring the owner of such indebtedness or obligation of the
ability of any other Person to make payment of the indebtedness or obligation;
or

        (d)  otherwise to assure the owner of such indebtedness or obligation
against loss in respect thereof.

In any computation of the indebtedness or other liabilities of the obligor under
any Guaranty, the indebtedness or other obligations that are the subject of such
Guaranty shall be assumed to be direct obligations of such obligor.

        "holder" means, with respect to any Note, the Person in whose name such
Note is registered in the register maintained by the Company pursuant to
Section 13.1.

        "Indebtedness" with respect to any Person means, at any time, without
duplication,

        (a)  its liabilities for borrowed money and its redemption obligations
in respect of mandatorily redeemable Preferred Stock;

        (b)  its liabilities for the deferred purchase price of property
acquired by such Person (excluding accounts payable arising in the ordinary
course of business but including all liabilities created or arising under any
conditional sale or other title retention agreement with respect to any such
property);

        (c)  all liabilities appearing on its balance sheet in accordance with
GAAP in respect of Capital Leases;

Schedule B-6

--------------------------------------------------------------------------------

        (d)  all liabilities for borrowed money secured by any Lien with respect
to any property owned by such Person (whether or not it has assumed or otherwise
become liable for such liabilities);

        (e)  all its liabilities in respect of letters of credit or instruments
serving a similar function issued or accepted for its account by banks and other
financial institutions (whether or not representing obligations for borrowed
money);

        (f)    Swaps of such Person; and

        (g)  any Guaranty of such Person with respect to liabilities of a type
described in any of clauses (a) through (f) hereof.

        "Institutional Investor" means (a) any original purchaser of a Note,
(b) any holder of a Note holding more than 5% of the aggregate principal amount
of the Notes then outstanding, and (c) any bank, trust company, savings and loan
association or other financial institution, any pension plan, any investment
company, any insurance company, any broker or dealer, or any other similar
financial institution or entity, regardless of legal form.

        "Interest Charges" means, with respect to any period, the sum (without
duplication) of the following (in each case, eliminating all offsetting debits
and credits between the Company and its Subsidiaries and all other items
required to be eliminated in the course of the preparation of consolidated
financial statements of the Company and its Subsidiaries in accordance with
GAAP): (a) all interest in respect of Indebtedness of the Company and its
Subsidiaries (including imputed interest on Capital Lease Obligations deducted
in determining Consolidated Net Income for such period, together with all
interest capitalized or deferred during such period and not deducted in
determining Consolidated Net Income for such period, and (b) all debt discount
and expense amortized or required to be amortized in the determination of
Consolidated Net Income for such period.

        "Investment" means any investment, made in cash or by delivery of
property, by the Company or any of its Subsidiaries (a) in any Person, whether
by acquisition of stock, Indebtedness or other obligation or Security, or by
loan, Guaranty, advance, capital contribution or otherwise, or (b) in any
property.

        "Joinder Agreement" means a joinder agreement in the form of the joinder
agreement attached as an exhibit to the Subsidiary Guaranty.

        "Lease Rentals" means, with respect to any period, the sum of the rental
and other obligations required to be paid during such period by the Company or
any Subsidiary as lessee under all leases of real or personal property (other
than Capital Leases), excluding any amount required to be paid by the lessee
(whether or not therein designated as rental or additional rental) on account of
maintenance and repairs, insurance, taxes, assessments, water rates and similar
charges, so long as such amount is not designated as a lease expense in the
determination of Consolidated Net Income for such period.

        "Leverage Ratio" means, at any time, the ratio of (a) Consolidated Debt
at such time to (b) Consolidated Adjusted EBITDA for the period of four
consecutive fiscal quarters ending at, or most recently prior to, such time.

        "Lien" means, with respect to any Person, any mortgage, lien, pledge,
charge, security interest or other encumbrance, or any interest or title of any
vendor, lessor, lender or other secured party to or of such Person under any
conditional sale or other title retention agreement or Capital Lease, upon or
with respect to any property or asset of such Person (including in the case of
stock, stockholder agreements, voting trust agreements and all similar
arrangements).

        "Make-Whole Amount" is defined in Section 8.6.

        "Material" means material in relation to the business, operations,
affairs, financial condition, assets, or properties of the Company and its
Subsidiaries taken as a whole.

Schedule B-7

--------------------------------------------------------------------------------

        "Material Adverse Effect" means a material adverse effect on (a) the
business, operations, affairs, financial condition, assets or properties of the
Company and its Subsidiaries taken as a whole, or (b) the ability of the Company
to perform its obligations under this Agreement and the Notes, or (c) the
validity or enforceability of this Agreement or the Notes.

        "Material Subsidiary" means any Subsidiary of the Company (a) for which
the Company or any of its Subsidiaries shall have paid $10,000,000 or more in
consideration (including, without limitation, any assumption of such
Subsidiary's debt) to acquire the assets or capital stock of such Subsidiary,
(b) to which the Company or any of its Subsidiaries shall have contributed
$10,000,000 or more by means of capital contribution, loans, purchase of capital
stock, any assumption of debt or similar means or (c) which shall have become
party to a Guaranty of (i) the obligations of the Company under the Credit
Agreement, as may be amended from time to time, or (ii) any other Indebtedness
of the Company or its Subsidiaries.

        "Memorandum" is defined in Section 5.3.

        "Moody's" means Moody's Investors Service, Inc.

        "Multiemployer Plan" means any Plan that is a "multiemployer plan" (as
such term is defined in section 4001(a)(3) of ERISA).

        "Net Proceeds Amount" means, with respect to any Transfer of any
property by any Person, an amount equal to the difference of

        (a)  the aggregate amount of the consideration (valued at the Fair
Market Value of such consideration at the time of the consummation of such
Transfer) received by such Person in respect of such Transfer, minus

        (b)  all ordinary and reasonable out-of-pocket costs and expenses
actually incurred by such Person in connection with such Transfer.

        "New Subordinated Indebtedness" is defined in Section 9.6.

        "Notes" is defined in Section 1.

        "Officer's Certificate" means a certificate of a Senior Financial
Officer or of any other officer of the Company whose responsibilities extend to
the subject matter of such certificate.

        "Other Agreements" is defined in Section 2.

        "Other Purchasers" is defined in Section 2.

        "PBGC" means the Pension Benefit Guaranty Corporation referred to and
defined in ERISA or any successor thereto.

        "Permitted Liens" means any of the following:

        (a)  Liens for taxes, assessments or other governmental charges which
are not yet due and payable or the payment of which is not at the time required
by Section 9.4;

        (b)  Liens (other than any Lien imposed by ERISA) incurred or deposits
made in the ordinary course of business (i) in connection with workers'
compensation, unemployment insurance and other types of social security or
retirement benefits, or (ii) to secure (or to obtain letters of credit that
secure) the performance of tenders, statutory obligations, surety bonds, appeal
bonds, bids, leases (other than Capital Leases), performance bonds, purchase,
construction or sales contracts and other similar obligations, in each case not
incurred or made in connection with the borrowing of money, in excess of the
aggregate amount due thereunder, the obtaining of advances or credit or the
payment of the deferred purchase price of property;

Schedule B-8

--------------------------------------------------------------------------------

        (c)  statutory Liens of landlords and Liens of carriers, warehousemen,
mechanics, materialmen and other similar Liens, in each case, incurred in the
ordinary course of business for sums not yet due and payable or the payment of
which is not at the time required by Section 9.4;

        (d)  leases or subleases granted to others, easements, rights-of-way,
restrictions and other similar charges or encumbrances, in each case incidental
to, and not interfering with, the ordinary conduct of the business of the
Company or any of its Subsidiaries, provided that such Liens do not, in the
aggregate, materially detract from the value of such property;

        (e)  Liens existing on the date of Closing, securing the Indebtedness of
the Company and its Subsidiaries and disclosed on Schedule 10.3, Part 1 (which
Schedule shall list the principal amount secured thereby), provided that the
principal amount secured by each such Lien is not increased above the principal
amount disclosed on such Schedule and no additional property shall become
subject to such Lien;

        (f)    any Lien created to secure all or any part of the purchase price,
or to secure Debt incurred or assumed to pay all or any part of the purchase
price or cost of construction, of fixed assets (or any improvement thereon)
acquired or constructed by the Company or a Subsidiary after the date of the
Closing, provided that:

        (i)    any such Lien shall extend solely to the item or items of such
property (or improvement thereon) so acquired or constructed and, if required by
the terms of the instrument originally creating such Lien, other property (or
improvement thereon) which is an improvement to or is acquired for specific use
in connection with such acquired or constructed property (or improvement
thereon) or which is real property being improved by such acquired or
constructed property (or improvement thereon),

        (ii)  the principal amount of the Debt secured by any such Lien shall at
no time exceed an amount equal to the lesser of (A) the cost to the Company or
such Subsidiary of the property (or improvement thereon) so acquired or
constructed and (B) the Fair Market Value (as determined in good faith by the
board of directors of the Company) of such property (or improvement thereon) at
the time of such acquisition or construction,

        (iii)  any such Lien shall be created contemporaneously with, or within
180 days after, the acquisition or construction of such property, and

        (iv)  the aggregate principal amount of all Debt secured by such Liens
shall not exceed $5,000,000 (excluding for the purpose of this computation the
principal amount of any Debt secured by Liens described on Schedule 10.3,
Part 1);

        (g)  any attachment or judgment Lien, unless the judgment it secures
shall not, within 60 days after the entry thereof, have been discharged or
execution thereof stayed pending appeal, or shall not have been discharged
within 60 days after the expiration of any such stay;

        (h)  Liens existing on the date of Closing, having resulted from final
judgments or orders and disclosed on Schedule 10.3, Part 2; and

        (i)    other Liens, not otherwise permitted by clauses (a) through (h),
securing Indebtedness of the Company or any Subsidiary provided that the
aggregate amount of Priority Debt at no time exceeds 20% of Consolidated Net
Worth.

        "Person" means an individual, partnership, corporation, limited
liability company, association, trust, unincorporated organization, or a
government or agency or political subdivision thereof.

        "Plan" means an "employee pension benefit plan" (as defined in
section 3(3) of ERISA) that is or, within the preceding five years, has been
established or maintained, or to which contributions are

Schedule B-9

--------------------------------------------------------------------------------

or, within the preceding five years, have been made or required to be made, by
the Company or any ERISA Affiliate or with respect to which the Company or any
ERISA Affiliate may have any liability.

        "Preferred Stock" means any class of capital stock of a corporation that
is preferred over any other class of capital stock of such corporation as to the
payment of dividends or the payment of any amount upon liquidation or
dissolution of such corporation.

        "Priority Debt" means, without duplication, (a) all Debt of the Company
and its Subsidiaries secured by the Liens permitted by clause (i) of the
definition of "Permitted Liens" in this Schedule B, (b) all Debt of Subsidiaries
(other than Debt of a Subsidiary described in Section 10.10(c)), and (c) all
Attributable Debt of the Company and its Subsidiaries.

        "property" or "properties" means, unless otherwise specifically limited,
real or personal property of any kind, tangible or intangible, choate or
inchoate.

        "Property Reinvestment Application" means, with respect to any Transfer
of property, the application of an amount equal to the Net Proceeds Amount with
respect to such Transfer to the acquisition by the Company or any Subsidiary of
operating assets of the Company or any Subsidiary provided that such operating
assets are to be used in the ordinary course of its business and are of at least
equivalent value and earning power as such property.

        "Proposed Prepayment Date" is defined in Section 8.7(c).

        "Purchaser" means each of the purchasers listed in Schedule A.

        "QPAM Exemption" means Prohibited Transaction Class Exemption 84-14
issued by the United States Department of Labor.

Schedule B-10

--------------------------------------------------------------------------------

        "Ratable Portion" means for any Note an amount equal to the product of
(a) the Net Proceeds Amount being so applied to the payment of Senior Funded
Debt multiplied by (b) a fraction the numerator of which is the outstanding
principal amount of such Note and the denominator of which is the aggregate
principal amount of all Senior Funded Debt.

        "Regulated Substance" means any substance, including any solid, liquid,
semisolid, gaseous, thermal, thoriated or radioactive material, refuse, garbage,
wastes, chemicals, petroleum products, by-products, coproducts, impurities,
dust, scrap, heavy metals, any substance defined as a "hazardous substance,"
"pollutant," "pollution," "contaminant," "hazardous or toxic substance,"
"extremely hazardous substance," "toxic chemical," "toxic waste," "hazardous
waste," "industrial waste," "residual waste," "solid waste," "municipal waste,"
"mixed waste," "infectious waste," "chemotherapeutic waste," "medical waste,"
"regulated substance" or any related materials, substances or wastes as now or
hereafter defined pursuant to any Environmental Laws, ordinances, rules,
regulations or other directives of any Governmental Authority, the generation,
manufacture, extraction, processing, distribution, treatment, storage, disposal,
transport, recycling, reclamation, use, reuse, spilling, leaking, dumping,
injection, pumping, leaching, emptying, discharge, escape, release or other
management or mismanagement of which is regulated by the Environmental Laws.

        "Required Holders" means, at any time, the holders of a majority in
principal amount of the Notes at the time outstanding (exclusive of Notes then
owned by the Company or any of its Affiliates).

        "Responsible Officer" means any Senior Financial Officer and any other
officer of the Company with responsibility for the administration of the
relevant portion of this Agreement.

        "Restricted Investments" means all Investments except the following:

        (a)  Investments existing on the date of the Closing and disclosed in
Schedule 10.9;

        (b)  Investments in one or more Subsidiaries or any Person that
concurrently with such Investment becomes a Subsidiary;

        (c)  demand deposits, time deposits, money market account deposits or
certificates of deposit maturing within one year in commercial banks whose
obligations are rated A-1, A or the equivalent or better by S&P on the date of
acquisition;

        (d)  Investments in United States Governmental Securities, provided that
such obligations mature within 365 days from the date of acquisition thereof;

        (e)  Investments in commercial paper given the highest rating by a
credit rating agency of recognized national standing and maturing not more than
270 days from the date of creation thereof;

        (f)    shares of money market mutual funds that invest substantially all
of their assets in the investments described in clauses (c) through (e),
inclusive, above;

        (g)  Investments constituting assets of an ongoing business which is in
the same line of business as the Company and its Subsidiaries on the date of
Closing; and

        (h)  Investments in certificates of deposit or banker's acceptances
issued by an Acceptable Bank, provided that such obligations mature within
365 days from the date of acquisition thereof.

        "S&P" means Standard & Poor's Ratings Group, a division of McGraw
Hill, Inc.

        "Sale-and-Leaseback Transaction" means a transaction or series of
transactions pursuant to which the Company or any Subsidiary shall sell or
transfer to any Person (other than the Company or a Subsidiary) any property,
whether now owned or hereafter acquired, and, as part of the same transaction or
series of transactions, the Company or any Subsidiary shall rent or lease as
lessee (other

Schedule B-11

--------------------------------------------------------------------------------

than pursuant to a Capital Lease), or similarly acquire the right to possession
or use of, such property or one or more properties which it intends to use for
the same purpose or purposes as such property.

        "Securities Act" means the Securities Act of 1933, as amended from time
to time.

        "Security" has the meaning set forth in section 2(1) of the Securities
Act.

        "Senior Financial Officer" means the chief financial officer, principal
accounting officer, treasurer or controller of the Company.

        "Senior Funded Debt" means Funded Debt of the Company (other than
Subordinated Debt).

        "Series A Notes" is defined in Section 1.

        "Series B Notes" is defined in Section 1.

        "Significant Subsidiary" means at any time any Subsidiary that would at
such time constitute a "significant subsidiary" (as such term is defined in
Regulation S-X of the Securities and Exchange Commission as in effect on the
date of the Closing) of the Company.

        "Subordinated Debt" means any Debt that is in any manner subordinated in
right of payment or security in any respect to Debt evidenced by the Notes.

        "Subsidiary" means, as to any Person, any corporation, association or
other business entity in which such Person or one or more of its Subsidiaries or
such Person and one or more of its Subsidiaries owns sufficient equity or voting
interests to enable it or them (as a group) ordinarily, in the absence of
contingencies, to elect a majority of the directors (or Persons performing
similar functions) of such entity, and any partnership or joint venture if more
than a 50% interest in the profits or capital thereof is owned by such Person or
one or more of its Subsidiaries or such Person and one or more of its
Subsidiaries (unless such partnership can and does ordinarily take major
business actions without the prior approval of such Person or one or more of its
Subsidiaries). Unless the context otherwise clearly requires, any reference to a
"Subsidiary" is a reference to a Subsidiary of the Company.

        "Subsidiary Guarantor" means any Subsidiary that has executed the
Subsidiary Guaranty or a Joinder Agreement.

        "Subsidiary Guaranty" is defined in Section 4.10.

        "Subsidiary Stock" means, with respect to any Person, the stock (or any
options or warrants to purchase stock or other Securities exchangeable for or
convertible into stock) of any Subsidiary of such Person.

        "Successor Corporation" is defined in Section 10.2(a).

        "Swaps" means, with respect to any Person, payment obligations with
respect to interest rate swaps, currency swaps and similar obligations
obligating such Person to make payments, whether periodically or upon the
happening of a contingency. For the purposes of this Agreement, the amount of
the obligation under any Swap shall be the amount determined in respect thereof
as of the end of the then most recently ended fiscal quarter of such Person,
based on the assumption that such Swap had terminated at the end of such fiscal
quarter, and in making such determination, if any agreement relating to such
Swap provides for the netting of amounts payable by and to such Person
thereunder or if any such agreement provides for the simultaneous payment of
amounts by and to such Person, then in each such case, the amount of such
obligation shall be the net amount so determined.

        "10% Subsidiary" means any Subsidiary whose shares are the subject of
any issuance, sale or disposition and who shall have contributed for the period
of twelve consecutive fiscal quarters ending

Schedule B-12

--------------------------------------------------------------------------------

at, or most recently prior to, the date that such issuance, sale or disposition
is consummated, more than 10% of Consolidated Adjusted EBITDA for such period.

        "this Agreement" is defined in Section 17.3.

        "Transfer" means, with respect to any Person, any transaction in which
such Person sells, conveys, transfers or leases (as lessor) any of its property,
including, without limitation, Subsidiary Stock.

        "USA Patriot Act" means United States Public Law 107-56 (Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism (USA Patriot Act) Act of 2001), as may be amended from time
to time.

        "United States Governmental Security" means any direct obligation of, or
obligation guaranteed by, the United States of America, or any agency controlled
or supervised by or acting as an instrumentality of the United States of America
pursuant to authority granted by the Congress of the United States of America,
so long as such obligation or guarantee shall have the benefit of the full faith
and credit of the United States of America which shall have been pledged
pursuant to authority granted by the Congress of the United States of America.

        "Wholly-Owned Subsidiary" means, at any time, any Subsidiary one hundred
percent (100%) of all of the equity interests (except directors' qualifying
shares) and voting interests of which are owned by any one or more of the
Company and the Company's other Wholly-Owned Subsidiaries at such time.

Schedule B-13

--------------------------------------------------------------------------------

[FORM OF SERIES A NOTE]

TRIUMPH GROUP, INC.

6.06% SERIES A SENIOR NOTE DUE DECEMBER 2, 2012

No. RA-[    ]   [Date] $[            ]   PPN: 896818 A* 2

        FOR VALUE RECEIVED, the undersigned, TRIUMPH GROUP, INC. (herein called
the "Company"), a corporation organized and existing under the laws of the State
of Delaware, hereby promises to pay to [                                ] or
registered assigns, the principal sum of [                                ]
DOLLARS ($[                ]) on December 2, 2012 with interest (computed on the
basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance
thereof at the rate of 6.06% per annum from the date hereof, payable
semiannually, on the 2nd day of June and December in each year, commencing with
the June 2 or December 2 next succeeding the date hereof, until the principal
hereof shall have become due and payable, and (b) to the extent permitted by law
on any overdue payment (including any overdue prepayment) of principal, any
overdue payment of interest and any overdue payment of any Make-Whole Amount (as
defined in the Note Purchase Agreements referred to below), payable semiannually
as aforesaid (or, at the option of the registered holder hereof, on demand), at
a rate per annum from time to time equal to the greater of (i) 2% or (ii) 2%
over the rate of interest publicly announced by PNC Bank, National Association,
from time to time in Pittsburgh, Pennsylvania, as its "base" or "prime" rate.

        Payments of principal of, interest on and any Make-Whole Amount with
respect to this Note are to be made in lawful money of the United States of
America at New York, New York or at such other place as the Company shall have
designated by written notice to the holder of this Note as provided in the Note
Purchase Agreements referred to below.

        This Note is one of a series of Senior Notes (herein called the "Notes")
issued pursuant to separate Note Purchase Agreements, dated as of November 21,
2002 (as from time to time amended, the "Note Purchase Agreements"), between the
Company and the respective Purchasers named therein and is entitled to the
benefits thereof.

        Each holder of this Note will be deemed, by its acceptance hereof,
(a) to have agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreements and (b) to have made the representation set forth
in Section 6.2 of the Note Purchase Agreements.

        This Note is a registered Note and, as provided in the Note Purchase
Agreements, upon surrender of this Note for registration of transfer, duly
endorsed, or accompanied by a written instrument of transfer duly executed, by
the registered holder hereof or such holder's attorney duly authorized in
writing, a new Note for a like principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for
registration of transfer, the Company may treat the person in whose name this
Note is registered as the owner hereof for the purpose of receiving payment and
for all other purposes, and the Company will not be affected by any notice to
the contrary.

        This Note is subject to prepayment, in whole or from time to time in
part, at the times and on the terms specified in the Note Purchase Agreements,
but not otherwise.

        If an Event of Default, as defined in the Note Purchase Agreements,
occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any
applicable Make-Whole Amount) and with the effect provided in the Note Purchase
Agreements.

        THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND
THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK
EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE
THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

    TRIUMPH GROUP, INC.

 
 
By

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

[FORM OF SERIES B NOTE]

TRIUMPH GROUP, INC.

5.59% SERIES B SENIOR NOTE DUE DECEMBER 2, 2012

No. RB-[    ]   [Date] $[            ]   PPN: 896818 A@ 0

        FOR VALUE RECEIVED, the undersigned, TRIUMPH GROUP, INC. (herein called
the "Company"), a corporation organized and existing under the laws of the State
of Delaware, hereby promises to pay to [                                ] or
registered assigns, the principal sum of [                                ]
DOLLARS ($[                  ]) on December 2, 2012 with interest (computed on
the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance
thereof at the rate of 5.59% per annum from the date hereof, payable
semiannually, on the 2nd day of June and December in each year, commencing with
the June 2 or December 2 next succeeding the date hereof, until the principal
hereof shall have become due and payable, and (b) to the extent permitted by law
on any overdue payment (including any overdue prepayment) of principal, any
overdue payment of interest and any overdue payment of any Make-Whole Amount (as
defined in the Note Purchase Agreements referred to below), payable semiannually
as aforesaid (or, at the option of the registered holder hereof, on demand), at
a rate per annum from time to time equal to the greater of (i) 2% or (ii) 2%
over the rate of interest publicly announced by PNC Bank, National Association,
from time to time in Pittsburgh, Pennsylvania, as its "base" or "prime" rate.

        Payments of principal of, interest on and any Make-Whole Amount with
respect to this Note are to be made in lawful money of the United States of
America at New York, New York or at such other place as the Company shall have
designated by written notice to the holder of this Note as provided in the Note
Purchase Agreements referred to below.

        This Note is one of a series of Senior Notes (herein called the "Notes")
issued pursuant to separate Note Purchase Agreements, dated as of November 21,
2002 (as from time to time amended, the "Note Purchase Agreements"), between the
Company and the respective Purchasers named therein and is entitled to the
benefits thereof.

        Each holder of this Note will be deemed, by its acceptance hereof,
(a) to have agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreements and (b) to have made the representation set forth
in Section 6.2 of the Note Purchase Agreements.

        This Note is a registered Note and, as provided in the Note Purchase
Agreements, upon surrender of this Note for registration of transfer, duly
endorsed, or accompanied by a written instrument of transfer duly executed, by
the registered holder hereof or such holder's attorney duly authorized in
writing, a new Note for a like principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for
registration of transfer, the Company may treat the person in whose name this
Note is registered as the owner hereof for the purpose of receiving payment and
for all other purposes, and the Company will not be affected by any notice to
the contrary.

        The Company will make required prepayments of principal on the dates and
in the amounts specified in the Note Purchase Agreement. This Note is also
subject to optional prepayment, in whole or from time to time in part, at the
times and on the terms specified in the Note Purchase Agreements, but not
otherwise.

        If an Event of Default, as defined in the Note Purchase Agreements,
occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any
applicable Make-Whole Amount) and with the effect provided in the Note Purchase
Agreements.

        THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND
THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK
EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE
THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

    TRIUMPH GROUP, INC.

 
 
By

--------------------------------------------------------------------------------

Name:
Title:

--------------------------------------------------------------------------------

QuickLinks

TABLE OF CONTENTS
Schedules & Exhibits
SCHEDULE A INFORMATION RELATING TO PURCHASERS
SCHEDULE B DEFINED TERMS
[FORM OF SERIES A NOTE] TRIUMPH GROUP, INC. 6.06% SERIES A SENIOR NOTE DUE
DECEMBER 2, 2012
[FORM OF SERIES B NOTE] TRIUMPH GROUP, INC. 5.59% SERIES B SENIOR NOTE DUE
DECEMBER 2, 2012