##### 



SALE AND PURCHASE AGREEMENT
 dated as of
 June 26, 2007,
 by and among
 CERADYNE EPB, INC.,
 CERADYNE, INC.,
 EAGLEPICHER BORON, LLC,
 EAGLEPICHER TECHNOLOGY HOLDINGS, LLC
 AND
 EAGLEPICHER CORPORATION




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TABLE OF CONTENTS
 PageARTICLE I DEFINITIONS
    
    
    1Section 1.1 Definitions
    
    
    1Section 1.2 Other Definitions
    
    
    4ARTICLE II THE TRANSACTION; CLOSING
    
    
    6Section 2.1 Sale and Purchase of LLC Interests
    
    
    6Section 2.2 Purchase Price
    
    
    6Section 2.3 Adjustments to Purchase Price
    
    
    7Section 2.4 Adjustment to Purchase Price Based on Collection of
Accounts Receivable
    
    
    8Section 2.5 Adjustment to Purchase Price Based on the Pilot Plant
Clean-Up and the Beryllium Clean-Up
    
    
    9Section 2.6 Closing
    
    
    9ARTICLE III REPRESENTATIONS AND WARRANTIES OF EPB AND SELLER
    
    
    9Section 3.1 Organization and Good Standing of EPB
    
    
    9Section 3.2 Authority; No Conflict
    
    
    10Section 3.3 Capitalization; No Subsidiaries
    
    
    10Section 3.4 Financial Statements
    
    
    11Section 3.5 Inventory
    
    
    11Section 3.6 Real Property
    
    
    12Section 3.7 Tangible Personal Property
    
    
    12Section 3.8 Taxes
    
    
    13Section 3.9 Employees
    
    
    14Section 3.10 Employee Benefits
    
    
    14Section 3.11 Compliance with Legal Requirements
    
    
    16Section 3.12 Governmental Authorizations
    
    
    16Section 3.13 Litigation; Orders
    
    
    16Section 3.14 Environmental Matters
    
    
    17Section 3.15 Illegal Payments
    
    
    17Section 3.16 Insurance
    
    
    17Section 3.17 Material Contracts; No Defaults
    
    
    18Section 3.18 Intellectual Property
    
    
    19Section 3.19 Absence of Certain Changes and Events
    
    
    20Section 3.20 Customers and Suppliers
    
    
    20Section 3.21 Transactions with Related Persons
    
    
    21
 i




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TABLE OF CONTENTS
(continued)
 PageSection 3.22 Brokers or Finders
    
    
    21Section 3.23 Product Warranties; Defects; Liabilities
    
    
    21Section 3.24 Exclusivity of Representations and Warranties
    
    
    21ARTICLE IV REPRESENTATIONS AND WARRANTIES OF BUYER AND CERADYNE
    
    
    21Section 4.1 Organization and Good Standing
    
    
    21Section 4.2 Authority; No Conflict
    
    
    21Section 4.3 Financing
    
    
    22Section 4.4 Investment Intent
    
    
    22Section 4.5 Buyers Investigation and Reliance
    
    
    22Section 4.6 Brokers or Finders
    
    
    23ARTICLE V REPRESENTATIONS AND WARRANTIES OF SELLER AND EP CORPORATION
    
    
    23Section 5.1 Organization and Good Standing
    
    
    23Section 5.2 Authority; No Conflict
    
    
    23Section 5.3 Ownership of LLC Interests
    
    
    24ARTICLE VI PRE-CLOSING COVENANTS
    
    
    24Section 6.1 Access and Investigation
    
    
    24Section 6.2 Operation of the Business of EPB
    
    
    25Section 6.3 Required Approvals
    
    
    26Section 6.4 Notification; Update of Schedules
    
    
    27Section 6.5 Commercially Reasonable Efforts
    
    
    28Section 6.6 Exclusive Dealing
    
    
    28Section 6.7 Environmental Remediation
    
    
    28Section 6.8 Subdivision of Parcel; Environmental Permits; Option to Purchase
    
    
    28Section 6.9 Process Safety Management Program
    
    
    30Section 6.10 Physical Inventory
    
    
    30Section 6.11 Seneca and Miami Assets
    
    
    30ARTICLE VII OTHER AGREEMENTS
    
    
    30Section 7.1 Public Announcements
    
    
    30Section 7.2 Confidentiality
    
    
    31Section 7.3 Certain Tax Matters
    
    
    31Section 7.4 Employee Retention
    
    
    32Section 7.5 Sellers and EP Corporations Covenant Not to Compete
    
    
    33Section 7.6 Directors and Officers Indemnification
    
    
    33
 ii




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TABLE OF CONTENTS
(continued)
 PageSection 7.7 Employees
    
    
    34Section 7.8 Information Retention
    
    
    36Section 7.9 EaglePicher Boron and EP Boron Trademarks
    
    
    36Section 7.10 ANL Consent
    
    
    36ARTICLE VIII CONDITIONS TO CLOSING
    
    
    37Section 8.1 Mutual Conditions
    
    
    37Section 8.2 Conditions to Obligations of Buyer and Ceradyne
    
    
    37Section 8.3 Conditions to Obligations of EPB and Seller
    
    
    39ARTICLE IX TERMINATION
    
    
    39Section 9.1 Termination Events
    
    
    39Section 9.2 Effect of Termination
    
    
    40ARTICLE X SURVIVAL; INDEMNIFICATION
    
    
    40Section 10.1 Survival of Covenants, Representations and Warranties
    
    
    40Section 10.2 Indemnification by Seller
    
    
    41Section 10.3 Indemnification by Buyer and Ceradyne
    
    
    41Section 10.4 Limitations; Nature of Liability
    
    
    42Section 10.5 Notice of Claims; Settlement
    
    
    43Section 10.6 Third Party Claims
    
    
    43Section 10.7 Indemnification Procedures
    
    
    44Section 10.8 Environmental Indemnification
    
    
    45Section 10.9 Subrogation
    
    
    45Section 10.10 Remedies
    
    
    45Section 10.11 No Benefit to Third Parties
    
    
    45Section 10.12 Arbitration
    
    
    46ARTICLE XI GENERAL PROVISIONS
    
    
    46Section 11.1 Expenses
    
    
    46Section 11.2 Assignment; No Third Party Beneficiaries
    
    
    46Section 11.3 Notices
    
    
    47Section 11.4 Entire Agreement; Modification
    
    
    48Section 11.5 Waiver
    
    
    48Section 11.6 Severability
    
    
    48Section 11.7 Headings; Construction
    
    
    48Section 11.8 Governing Law
    
    
    48Section 11.9 Execution of Agreement; Counterparts
    
    
    48
 iii




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TABLE OF CONTENTS
(continued)
 PageSection 11.10 Further Assurances
    
    
    49Section 11.11 Attorneys Fees
    
    
    49
 iv




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Exhibits and Schedules
 SchedulesSchedule 3.2(c)
    
    No ConflictSchedule 3.2(d)
    
    ConsentsSchedule 3.3(a)
    
    CapitalizationSchedule 3.3(b)
    
    Voting Trusts, Proxies, Etc.Schedule 3.4(a)
    
    Financial StatementsSchedule 3.4(b)
    
    Undisclosed LiabilitiesSchedule 3.6(a)
    
    Owned Real PropertySchedule 3.6(b)
    
    Leased Real PropertySchedule 3.7(a)
    
    Permitted LiensSchedule 3.7(b)
    
    Depreciation ScheduleSchedule 3.8
    
    TaxesSchedule 3.9(a)
    
    Collective Bargaining AgreementsSchedule 3.9(b)
    
    Employees  Compliance with Legal RequirementsSchedule 3.9(c)
    
    Employment ContractsSchedule 3.9(d)
    
    Known Terminations of EmploymentSchedule 3.10(a)
    
    Employee Benefit PlansSchedule 3.10(c)
    
    Multiemployer PlansSchedule 3.10(d)
    
    Welfare Benefit PlansSchedule 3.10(f)
    
    Acceleration of Employee BenefitsSchedule 3.10(g)
    
    Employee Benefits  ProceedingsSchedule 3.11
    
    Compliance with Legal RequirementsSchedule 3.12
    
    Governmental AuthorizationsSchedule 3.13(a)
    
    ProceedingsSchedule 3.13(b)
    
    OrdersSchedule 3.14
    
    Environmental MattersSchedule 3.16
    
    InsuranceSchedule 3.17(a)
    
    Material ContractsSchedule 3.17(b)
    
    Material Contracts  Defaults, Etc.Schedule 3.17(c)
    
    Descriptions of Oral Material ContractsSchedule 3.18(a)
    
    Intellectual PropertySchedule 3.18(b)
    
    License AgreementsSchedule 3.18(f)
    
    Intellectual Property  TitleSchedule 3.18(g)
    
    Intellectual Property  ProtectionSchedule 3.19
    
    Absence of Certain Changes and EventsSchedule 3.20(a)
    
    Material CustomersSchedule 3.20(b)(i)
    
    Material SuppliersSchedule 3.20(b)(ii)
    
    Sole Source SuppliersSchedule 3.21
    
    Related PersonsSchedule 8.2(c)
    
    Required ConsentsSchedule 10.4(f)
    
    Exceptions to Certain Limitations
 ExhibitsExhibit A
    
    Calculation of the May 31 Net Tangible Book ValueExhibit B
    
    EHS Issue Summary TableExhibit C
    
    Escrow AgreementExhibit D
    
    RCRA Pond Parcelization
 v




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SALE AND PURCHASE AGREEMENT
 Agreement Ceradyne Buyer EPB Seller EP Corporation
 RECITALS
 LLC Interests
   ARTICLE I
DEFINITIONS
 Section 1.1 Definitions .
 Affiliate
 Business Day
 CERCLA
 Closing Date
 Code
 Confidentiality Agreement
 Damages




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DOJ
 EHS Issue Summary Table Exhibit B
 Environmental Laws
 EPB Business
 ERISA
 ERISA Affiliate
 Exchange Act
 Final Date
 FTC
 GAAP
 Governmental Authority
 Hazardous Materials
 HSR Act
 Knowledge
 2




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Liens
 Material Adverse Effect
 May 31 Net Tangible Book Value Exhibit A
 Net Tangible Book Value
 Permitted Liens Schedule 3.7(a)
 Person
 RCRA
 Restricted Period
 3




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Subsidiary
 Tax Taxes
 Tax Return
 Territory
 Trade Secrets
 Section 1.2 Other Definitions
 Term
    
    SectionAcquisition Transaction
    
    Section 6.6(a)Actual Closing Date Net Tangible Book Value
    
    Section 2.3(a)Additional Purchase Price
    
    Section 2.3(b)Additional Purchase Price Reduction
    
    Section 2.4Adjustment Amount
    
    Section 2.3(b)Agreement
    
    PrefaceANL
    
    Section 7.10A/R Collection Period
    
    Section 2.4Asset Acquisition Statement
    
    Section 7.3(g)Basket Amount
    
    Section 10.4(d)(i)Beryllium Clean-Up
    
    Section 2.2(a)Buyer
    
    PrefaceBuyer Closing Documents
    
    Section 4.2(a)Buyer Indemnified Party(ies)
    
    Section 10.2
 4




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Term
    
    SectionCeradyne
    
    PrefaceClass A Key Employees
    
    Section 7.4Class B Key Employees
    
    Section 7.4Closing
    
    Section 2.6Closing Date A/R
    
    Section 2.4Closing Date Balance Sheet
    
    Section 2.3(a)Closing Date Cash Payment
    
    Section 2.2(a)Closing Date Net Tangible Book Value
    
    Section 2.3(a)Competing Business
    
    Section 7.5(a)Contest Notice
    
    Section 10.7Copyrights
    
    Section 3.18(a)Core Representations
    
    Section 10.4(c)Employees
    
    Section 7.7(a)Employee Benefit Plans
    
    Section 3.10(a)EPB
    
    PrefaceEPB Closing Documents
    
    Section 3.2(a)EPB Governing Documents
    
    Section 3.1(c)EPB Financial Statements
    
    Section 3.4(a)EPB Intellectual Property
    
    Section 3.18(a)EPB Leased Real Property
    
    Section 3.6(b)EPB Mark
    
    Section 7.9(a)EPB Owned Real Property
    
    Section 3.6(a)EPB Products
    
    Section 3.23EPB Real Property
    
    Section 3.6(c)EP Corporation
    
    PrefaceEquipment
    
    Section 3.7(b)Escrow Agent
    
    Section 2.2(b)(ii)Escrow Agreement
    
    Section 2.2(b)(ii)Escrow Amount
    
    Section 2.2(b)(i)Filing Date
    
    Section 10.12(b)Governmental Authorizations
    
    Section 3.12Indemnification Ceiling
    
    Section 10.4(c)Interim Balance Sheet
    
    Section 3.4(a)Interim Balance Sheet Date
    
    Section 3.4(a)Key Employees
    
    Section 7.4Legal Requirements
    
    Section 3.2(c)LLC Interests
    
    RecitalsMarks
    
    Section 3.18(a)Master Trust
    
    Section 7.7(e)(i)Material Contracts
    
    Section 3.17(a)New EPB Pension Plans
    
    Section 7.7(e)(i)Notice of Claim
    
    Section 10.7Notice of Liability
    
    Section 10.7Orders
    
    Section 3.2(c)Parcel A
    
    Section 6.8(a)Parcel B
    
    Section 6.8 (a)Patents
    
    Section 3.18(a)Physical Inventory
    
    Section 6.10Pilot Plant Clean-Up
    
    Section 2.2(a)
 5




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Term
    
    SectionProceeding
    
    Section 3.13(a)Purchase Price
    
    Section 2.2(a)Purchase Price Reduction
    
    Section 2.3(b)Purchased Assets
    
    Section 7.3(g)Qualified Plan
    
    Section 3.10(h)RCRA Parcels
    
    Section 6.8(b)RCRA Parcel Option
    
    Section 6.8(f)RCRA Pond
    
    Section 6.8(b)Related Person
    
    Section 3.21Retained Parcels
    
    Section 6.8(b)Retained Parcels Options
    
    Section 6.8(e)Revised Statements
    
    Section 7.3(g)Right of First Refusal
    
    Section 6.8(g)Securities Act
    
    Section 4.4Selected Accounting Firm
    
    Section 2.3(a)Seller
    
    PrefaceSeller Closing Documents
    
    Section 5.2(a)Seller Indemnified Party(ies)
    
    Section 10.3Seller Plans
    
    Section 7.7(a)Subdivision Laws
    
    Section 6.8(a)Transaction Expenses
    
    Section 11.1Transitional Costs
    
    Section 7.7(c)(ii)Transitional Participants
    
    Section 7.7(c)(i)
 ARTICLE II
THE TRANSACTION; CLOSING
 Section 2.1 Sale and Purchase of LLC Interests
 Section 2.2 Purchase Price .
 Aggregate Purchase Price plus minus Pilot Plant Clean-Up Beryllium Clean-Up plus Closing Date Cash
Payment Purchase Price
 Payments at Closing
 less Escrow Amount
 6




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Escrow
Agent Exhibit C Escrow Agreement
 Section 2.3 Adjustments to Purchase Price
 Closing Date Net Tangible Book Value Closing Date Balance Sheet Closing Date Net Tangible Book Value not Actual Closing Date Net Tangible Book Value does Selected Accounting
Firm
 Net Tangible Book Value Adjustment Adjustment Amount Additional Purchase Price
 7




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Purchase Price
Reduction
  Payment of Adjustment Amount
   Section 2.4 Adjustment to Purchase Price Based on Collection of Accounts Receivable Closing Date A/R A/R Collection Period Additional Purchase Price Reduction
 8




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Section 2.5 Adjustment to Purchase Price Based on the Pilot Plant Clean-Up and the
Beryllium Clean-Up .
 Section 2.6 Closing . Closing th
 ARTICLE III
REPRESENTATIONS AND WARRANTIES OF EPB AND SELLER
  Section 3.1 Organization and Good Standing of EPB
   EPB Governing Documents
 9




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Section 3.2 Authority; No Conflict .
 EPB Closing Documents
  Schedule 3.2(c) Legal
Requirements Orders
 Schedule 3.2(d)
 Section 3.3 Capitalization; No Subsidiaries .
 Schedule 3.3(a)
 10




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Schedule 3.3(b) Schedule 3.3(b)
  Section 3.4 Financial Statements .
 Schedule 3.4(a) Interim Balance Sheet Interim Balance Sheet Date EPB
Financial Statements
 Schedule 3.4(b)
 Section 3.5 Inventory .
 11




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Section 3.6 Real Property .
 Owned Real Properties Schedule 3.6(a) EPB Owned Real
Property Schedule 3.6(a)
 Schedule 3.6(b) EPB Leased Real Property Schedule 3.6(b)
 EPB Real
Property
 Section 3.7 Tangible Personal Property .
 Schedule 3.7(a)
 Equipment Schedule
3.7(b)
  12




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Section 3.8 Taxes . Schedule 3.8
         13




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Section 3.9 Employees .
 Schedule 3.9(a)
 Schedule 3.9(b)
 Schedule 3.9(c)
 Schedule 3.9(d)
 Section 3.10 Employee Benefits .
 Schedule 3.10(a) Employee Benefit Plans
 14




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Schedule 3.10(c)
 Schedule 3.10(d)
  Schedule 3.10(f)
 Schedule 3.10(g) Schedule 3.10(g)
 Qualified Plan
 15




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Section 3.11 Compliance with Legal Requirements . Schedule
3.11
 Section 3.12 Governmental Authorizations . Schedule 3.12 Governmental
Authorizations Schedule 3.12 Schedule 3.12 Schedule
3.12
 Section 3.13 Litigation; Orders .
 Schedule 3.13(a) Proceeding
 16




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Schedule 3.13(b)
 Section 3.14 Environmental Matters . Schedule 3.14
      Section 3.15 Illegal Payments .
 Section 3.16 Insurance . Schedule 3.16
 17




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Section 3.17 Material Contracts; No Defaults .
 Schedule 3.17(a) Schedule 3.6(b) Schedule 3.9(c) Schedule 3.18(b) Schedule 3.6(b) Schedule
3.9(c) Schedule 3.18(b) Material Contracts
           Schedule 3.17(b)
  18




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Schedule 3.2(d)
    Schedule 3.17(c)
 Section 3.18 Intellectual Property .
 Schedule 3.18(a) EPB Intellectual Property Patents Marks Copyrights
 Schedule 3.18(b)
  19




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Schedule 3.18(f)
 Schedule 3.18(g)
 Section 3.19 Absence of Certain Changes and Events . Schedule 3.19
 Section 3.20 Customers and Suppliers .
 Customers Schedule 3.20(a)
 Suppliers
 Schedule 3.20(b)(i)
 Schedule 3.20(b)(ii)
 20




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Section 3.21 Transactions with Related Persons Schedule
3.21 Related
Person
 Section 3.22 Brokers or Finders .
 Section 3.23 Product Warranties; Defects; Liabilities EPB Products
 Section 3.24 Exclusivity of Representations and Warranties
 ARTICLE IV
REPRESENTATIONS AND WARRANTIES OF BUYER AND CERADYNE
  Section 4.1 Organization and Good Standing .
 Section 4.2 Authority; No Conflict .
 Buyer Closing Documents
 21




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Section 4.3 Financing
 Section 4.4 Investment Intent Securities Act
 Section 4.5 Buyers Investigation and Reliance
 22




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Section 4.6 Brokers or Finders .
 ARTICLE V
REPRESENTATIONS AND WARRANTIES OF SELLER AND EP CORPORATION
  Section 5.1 Organization and Good Standing .
 Section 5.2 Authority; No Conflict .
 Seller Closing Documents
 23




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Section 5.3 Ownership of LLC Interests
 ARTICLE VI
PRE-CLOSING COVENANTS
 Section 6.1 Access and Investigation .
 24




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Section 6.2 Operation of the Business of EPB .
         25




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Schedule 3.13(a)
     Section 6.3 Required Approvals .
   26




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Section 6.4 Notification; Update of Schedules .
 27




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Section 6.5 Commercially Reasonable Efforts .
 Section 6.6 Exclusive Dealing .
 Acquisition Transaction
  Section 6.7 Environmental Remediation
 Section 6.8 Subdivision of Parcels; Environmental Permits; Option to Purchase
 Subdivision Laws
 28




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Schedule 3.6(a) Exhibit D Parcel A.
 Schedule 3.6(a) Exhibit
D Parcel B.
 RCRA Pond RCRA Parcels. Retained Parcels. Exhibit D
   Retained Parcels
Options
 29




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RCRA Parcel Option
 Right of First Refusal
  Section 6.9 Process Safety Management Program
 Section 6.10 Physical Inventory Physical Inventory
 Section 6.11 Seneca and Miami Assets
 ARTICLE VII
OTHER AGREEMENTS
 Section 7.1 Public Announcements .
 30




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Section 7.2 Confidentiality .
 Section 7.3 Certain Tax Matters
 Tax Returns
 Liability for Taxes
    Tax Indemnification
 31




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Treatment of Indemnity Payments
 Cooperation
 FIRPTA Certificate
 Purchase Price Allocation Purchased Assets Asset
Acquisition Statement Revised Statements
 Section 7.4 Employee Retention Key Employees, Class A Key Employees Class B Key
Employees
 32




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Section 7.5 Sellers and EP Corporations Covenant Not to Compete
 Covenant Not to Compete Competing Business
 Remedies
 Section 7.6 Directors and Officers Indemnification
 33




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Section 7.7 Employees
 Cessation of Participation in Employee Benefit Plans Employees Seller Plans
 Retiree Medical Coverage
 Employee Medical Insurance
 Transitional Participants
 Transitional Costs
  34




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401(k) Plans
 Tax-Qualified Pension Plans
 New EPB Pension Plans Master Trust
  35




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No Third Party Beneficiaries
 Section 7.8 Information Retention .
   Section 7.9 EaglePicher Boron and EP Boron Trademarks
 EPB
Mark
   Section 7.10 ANL Consent ANL Schedule
8.2(c)
 36




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ARTICLE VIII
CONDITIONS TO CLOSING
 Section 8.1 Mutual Conditions .
 HSR Act
 No Injunctions or Legal Prohibitions
 Section 8.2 Conditions to Obligations of Buyer and Ceradyne .
 Representations and Warranties
 Covenants
 Material Consents Schedule 8.2(c)
 Closing Deliveries
 37




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Schedule 8.2(c)
     38




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Absence of Material Adverse Effect
 Retention of Key Employees
 Section 8.3 Conditions to Obligations of EPB and Seller .
 Representations and Warranties
 Covenants
 Closing Deliveries
     ARTICLE IX
TERMINATION
 Section 9.1 Termination Events .
 39




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Section 9.2 Effect of Termination .
 ARTICLE X
SURVIVAL; INDEMNIFICATION
 Section 10.1 Survival of Covenants, Representations and Warranties
 40




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Section 10.2 Indemnification by Seller Buyer Indemnified Parties Buyer Indemnified Party
     Section 10.3 Indemnification by Buyer and Ceradyne . Seller Indemnified Parties Seller
Indemnified Party
    41




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Section 10.4 Limitations; Nature of Liability
 Time
 Exclusivity of Tax Indemnification
 Ceiling Amounts; Nature of Liability Indemnification Ceiling Core Representations
 Basket Amount
 Basket
Amount
  Aggregation for Purposes of Indemnification Ceiling
 Other Limitations
  42




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Schedule 10.4(f)
 Calculation of Damages
 Cooperation
 Section 10.5 Notice of Claims; Settlement .
 Section 10.6 Third Party Claims .
 43




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##### 



Section 10.7 Indemnification Procedures . Notice of Claim Contest Notice Notice of Liability
 44




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##### 



Section 10.8 Environmental Indemnification
 Section 10.9 Subrogation .
 Section 10.10 Remedies
 Section 10.11 No Benefit to Third Parties .
 45




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##### 



Section 10.12 Arbitration
  Filing Date
  ARTICLE XI
GENERAL PROVISIONS
 Section 11.1 Expenses . Transaction Expenses
 Section 11.2 Assignment; No Third Party Beneficiaries .
 46




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Section 11.3 Notices .
 If to Seller or EPCorporation, to:
    
    EaglePicher Technology Holdings, LLCP.O. Box 47Joplin, Missouri 64801Attention: Steve Westfall, PresidentFacsimile No.: (417) 623-3818Email:
steve.westfall@eaglepicher.comwith a copy to:
    
    Gibson, Dunn & Crutcher LLP1050 Connecticut Avenue N.W.Washington, DC 20036-5306Attention: Stephen I. Glover, Esq.Facsimile No.: (202) 467-0539Email: siglover@gibsondunn.comIf to Buyer orCeradyne, to:
    
    Ceradyne, Inc.3169 Red Hill Avenue,Costa Mesa, California 92626Attention: Jerrold J. Pellizzon, Chief Financial OfficerFacsimile No.: (714) 556-0367Email: jpellizzon@ceradyne.comwith a copy to:
    
    Stradling Yocca Carlson & Rauth660 Newport Center Drive, Suite 1600Newport Beach, California 92660-6441Attention: Robert E. Rich, Esq.Facsimile No.: (949) 725-4100Email: rrich@sycr.com
  47




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Section 11.4 Entire Agreement; Modification .
 Section 11.5 Waiver .
 Section 11.6 Severability .
 Section 11.7 Headings; Construction .
 Section 11.8 Governing Law .
 Section 11.9 Execution of Agreement; Counterparts .
 48




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##### 



Section 11.10 Further Assurances .
 Section 11.11 Attorneys Fees
 [Signature page follows]
 49




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##### 



BUYER:CERADYNE EPB, INC.By:
    
    /s/ Jerrold J. PellizzonName:
    
    Jerrold J. PellizzonIts:
    
    Chief Financial OfficerCERADYNE:CERADYNE, INC.By:
    
    /s/ Jerrold J. PellizzonName:
    
    Jerrold J. PellizzonIts:
    
    Chief Financial OfficerEPB:EAGLEPICHER BORON, LLCBy:
    
    /s/ Patrick S. AubryName:
    
    Patrick S. AubryIts:
    
    Vice President, Chief Financial OfficerSELLER:EAGLEPICHER TECHNOLOGY HOLDINGS, LLCBy:
    
    /s/ Patrick S. AubryName:
    
    Patrick S. AubryIts:
    
    Vice President, Chief Financial OfficerEP CORPORATION:
(Solely as to Article V, Section 7.5 and Section 7.9)EAGLEPICHER CORPORATIONBy:
    
    /s/ Patrick S. AubryName:
    
    Patrick S. AubryIts:
    
    Vice President, Chief Financial Officer, Treasurer




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EXHIBIT A
CALCULATION OF MAY 31 NET TANGIBLE BOOK VALUE




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EXHIBIT B
EHS ISSUE SUMMARY TABLE




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EXHIBIT C
ESCROW AGREEMENT




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EXHIBIT D
RCRA POND PARCELIZATION