Document:

EX-10.1

CREDIT AGREEMENT,

dated as of June 6, 2006,

among

FERRO CORPORATION

and

CERTAIN OF ITS DESIGNATED SUBSIDIARIES

FROM TIME TO TIME PARTY HERETO,

as the Borrowers,

VARIOUS FINANCIAL INSTITUTIONS AND OTHER PERSONS

FROM TIME TO TIME PARTY HERETO,

as the Lenders,

CREDIT SUISSE, CAYMAN ISLANDS BRANCH

as the Term Loan Administrative Agent,

NATIONAL CITY BANK,

as the Revolving Loan Administrative Agent

and the Collateral Agent,

and

KEYBANK NATIONAL ASSOCIATION,

as the Documentation Agent

CREDIT SUISSE SECURITIES (USA) LLC

and

NATIONAL CITY BANK,

as Joint Lead Arrangers and Joint Bookrunners

1

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Section 1.1
	 	Defined Terms
	 	 	1	 	 	 	 	 
	Section 1.2
	 	Use of Defined Terms
	 	 	31	 	 	 	 	 
	Section 1.3
	 	Cross-References
	 	 	31	 	 	 	 	 
	Section 1.4
	 	Accounting and Financial Determinations
	 	 	31	 	 	 	 	 
	Section 1.5
	 	Exchange Rates; Currency Equivalents
	 	 	32	 	 	 	 	 
	Section 1.6
	 	Redenomination of Certain Foreign Currencies and
	 	 	 	 	 	 	32	 
	 
	 	Computation of Dollar Amounts
	 	 	 	 	 	 	 	 
	Section 1.7
	 	American Legal Terms
	 	 	33	 	 	 	 	 

ARTICLE II

COMMITMENTS, BORROWING AND ISSUANCE PROCEDURES, NOTES AND LETTERS OF CREDIT

	 	 	 	 	 	 	 	 	 
	Section 2.1
	 	Commitments
	 	 	33	 
	Section 2.2
	 	Reduction of the Commitment Amounts
	 	 	34	 
	Section 2.3
	 	Borrowing Procedures
	 	 	35	 
	Section 2.4
	 	Continuation and Conversion Elections
	 	 	36	 
	Section 2.5
	 	Alternate Currency Loans
	 	 	37	 
	Section 2.6
	 	Funding
	 	 	38	 
	Section 2.7
	 	Issuance Procedures
	 	 	38	 
	Section 2.8
	 	Registers; Notes
	 	 	41	 
	Section 2.9
	 	Designated Borrowers
	 	 	42	 

ARTICLE III

REPAYMENTS, PREPAYMENTS, INTEREST AND FEES

	 	 	 	 	 	 	 	 	 
	Section 3.1
	 	Repayments and Prepayments; Application
	 	 	43	 
	Section 3.2
	 	Interest Provisions
	 	 	47	 
	Section 3.3
	 	Fees
	 	 	48	 

ARTICLE IV

CERTAIN LIBO RATE AND OTHER PROVISIONS

	 	 	 	 	 	 	 	 	 
	Section 4.1
	 	LIBO Rate Lending Unlawful
	 	 	50	 
	Section 4.2
	 	Deposits Unavailable
	 	 	50	 
	Section 4.3
	 	Increased LIBO Rate Loan Costs, etc
	 	 	50	 
	Section 4.4
	 	Funding Losses
	 	 	51	 
	Section 4.5
	 	Increased Capital Costs
	 	 	51	 
	Section 4.6
	 	Taxes
	 	 	51	 
	Section 4.7
	 	Payments, Computations; Proceeds of Collateral, etc
	 	 	53	 
	Section 4.8
	 	Sharing of Payments
	 	 	55	 
	Section 4.9
	 	Setoff
	 	 	55	 
	Section 4.10
	 	Removal of Lenders
	 	 	56	 
	Section 4.11
	 	Guaranty by Borrowers
	 	 	57	 

ARTICLE V

CONDITIONS TO CREDIT EXTENSIONS

	 	 	 	 	 	 	 	 	 
	Section 5.1
	 	Initial Credit Extension
	 	 	59	 
	Section 5.2
	 	All Credit Extensions
	 	 	63	 

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

	 	 	 	 	 	 	 	 	 
	Section 6.1
	 	Organization, etc
	 	 	64	 
	Section 6.2
	 	Due Authorization, Non-Contravention, etc
	 	 	64	 
	Section 6.3
	 	Government Approval, Regulation, etc
	 	 	65	 
	Section 6.4
	 	Validity, etc
	 	 	65	 
	Section 6.5
	 	Financial Information
	 	 	65	 
	Section 6.6
	 	No Material Adverse Change
	 	 	65	 
	Section 6.7
	 	Litigation, Labor Controversies, etc
	 	 	65	 
	Section 6.8
	 	Subsidiaries
	 	 	66	 
	Section 6.9
	 	Ownership of Properties
	 	 	66	 
	Section 6.10
	 	Taxes; Other Laws
	 	 	66	 
	Section 6.11
	 	Pension and Welfare Plans
	 	 	66	 
	Section 6.12
	 	Environmental Warranties
	 	 	67	 
	Section 6.13
	 	Accuracy of Information
	 	 	68	 
	Section 6.14
	 	Regulations U and X
	 	 	68	 
	Section 6.15
	 	Solvency
	 	 	68	 

ARTICLE VII

COVENANTS

	 	 	 	 	 	 	 	 	 
	Section 7.1
	 	Affirmative Covenants
	 	 	68	 
	Section 7.2
	 	Negative Covenants
	 	 	74	 

ARTICLE VIII

EVENTS OF DEFAULT

	 	 	 	 	 	 	 	 	 
	Section 8.1
	 	Listing of Events of Default
	 	 	81	 
	Section 8.2
	 	Action if Bankruptcy
	 	 	83	 
	Section 8.3
	 	Action if Other Event of Default
	 	 	83	 

ARTICLE IX

THE AGENTS

	 	 	 	 	 	 	 	 	 
	Section 9.1
	 	Actions
	 	 	84	 
	Section 9.2
	 	Funding Reliance, etc
	 	 	84	 
	Section 9.3
	 	Exculpation
	 	 	85	 
	Section 9.4
	 	Successor
	 	 	85	 
	Section 9.5
	 	Loans by the Agents
	 	 	86	 
	Section 9.6
	 	Credit Decisions
	 	 	86	 
	Section 9.7
	 	Copies, etc
	 	 	86	 
	Section 9.8
	 	Reliance by the Agents
	 	 	86	 
	Section 9.9
	 	Defaults
	 	 	87	 
	Section 9.10
	 	Posting of Approved Electronic Communications
	 	 	87	 
	Section 9.11
	 	Joint Lead Arrangers and Documentation Agent
	 	 	88	 

ARTICLE X

MISCELLANEOUS PROVISIONS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Section 10.1
	 	Waivers, Amendments, etc
	 	 	 	 	 	 	89	 	 	 	 	 
	Section 10.2
	 	Notices; Time
	 	 	 	 	 	 	90	 	 	 	 	 
	Section 10.3
	 	Payment of Costs and Expenses
	 	 	 	 	 	 	90	 	 	 	 	 
	Section 10.4
	 	Indemnification
	 	 	 	 	 	 	91	 	 	 	 	 
	Section 10.5
	 	Survival
	 	 	 	 	 	 	92	 	 	 	 	 
	Section 10.6
	 	Severability
	 	 	 	 	 	 	92	 	 	 	 	 
	Section 10.7
	 	Headings
	 	 	 	 	 	 	92	 	 	 	 	 
	Section 10.8	 	Execution in Counterparts, Effectiveness, etc
	 	 	92	 	 	 	 	 
	Section 10.9
	 	Governing Law; Entire Agreement
	 	 	 	 	 	 	93	 	 	 	 	 
	Section 10.10
	 	Successors and Assigns
	 	 	 	 	 	 	93	 	 	 	 	 
	Section 10.11	 	Sale and Transfer of Credit Extensions; Participations in Credit Extensions; Notes
	 	 	 	 	 	 	93	 
	Section 10.12
	 	Other Transactions
	 	 	 	 	 	 	96	 	 	 	 	 
	Section 10.13	 	Forum Selection and Consent to Jurisdiction
	 	 	96	 	 	 	 	 
	Section 10.14
	 	Waiver of Jury Trial
	 	 	 	 	 	 	97	 	 	 	 	 
	Section 10.15
	 	Patriot Act
	 	 	 	 	 	 	97	 	 	 	 	 
	Section 10.16
	 	Judgment Currency
	 	 	 	 	 	 	97	 	 	 	 	 
	Section 10.17
	 	Confidentiality
	 	 	 	 	 	 	98	 	 	 	 	 
	Section 10.18
	 	Counsel Representation
	 	 	 	 	 	 	99	 	 	 	 	 
	SCHEDULE I
	 	 	–	 	 	Disclosure Schedule
	 	 	 	 	 	 	 	 
	SCHEDULE II
	 	 	–	 	 	Percentages; LIBOR Office; Domestic Office
	 	 	 	 	 	 	 	 
	SCHEDULE III
	 	 	–	 	 	Mortgaged Properties
	 	 	 	 	 	 	 	 
	SCHEDULE IV
	 	 	–	 	 	Foreign Subsidiaries
	 	 	 	 	 	 	 	 
	EXHIBIT A-1
	 	 	–	 	 	Form of Revolving Note
	 	 	 	 	 	 	 	 
	EXHIBIT A-2
	 	 	–	 	 	Form of Term Note
	 	 	 	 	 	 	 	 
	EXHIBIT A-3
	 	 	–	 	 	Form of Swingline Note
	 	 	 	 	 	 	 	 
	EXHIBIT B-1
	 	 	–	 	 	Form of Borrowing Request
	 	 	 	 	 	 	 	 
	EXHIBIT B-2
	 	 	–	 	 	Form of Issuance Request
	 	 	 	 	 	 	 	 
	EXHIBIT C
	 	 	–	 	 	Form of Continuation/Conversion Notice
	 	 	 	 	 	 	 	 
	EXHIBIT D
	 	 	–	 	 	Form of Lender Assignment Agreement
	 	 	 	 	 	 	 	 
	EXHIBIT E
	 	 	–	 	 	Form of Compliance Certificate
	 	 	 	 	 	 	 	 
	EXHIBIT F
	 	 	–	 	 	Form of Subsidiary Guaranty (Domestic)
	 	 	 	 	 	 	 	 
	EXHIBIT G
	 	 	–	 	 	Form of Pledge and Security Agreement
	 	 	 	 	 	 	 	 
	EXHIBIT H-1
	 	 	–	 	 	Form of Designated Borrower Request and Assumption Agreement
	 	 	 	 	 	 	 	 
	EXHIBIT H-2
	 	 	–	 	 	Form of Designated Borrower Notice
	 	 	 	 	 	 	 	 

2

CREDIT AGREEMENT

THIS CREDIT AGREEMENT, dated as of June 6, 2006, is among FERRO CORPORATION, an Ohio
corporation (the “Company”), certain Subsidiaries of the Company from time to time party
hereto (each a “Designated Borrower” and together with the Company, each a
“Borrower” and collectively the “Borrowers”), the various financial institutions
and other Persons from time to time party hereto (the “Lenders”), CREDIT SUISSE, CAYMAN
ISLANDS BRANCH (“CS”), as the administrative agent for the Term Loan Lenders (in such
capacity, the “Term Loan Administrative Agent”), NATIONAL CITY BANK (“National
City”), as the administrative agent for the Revolving Loan Lenders (in such capacity, the
“Revolving Loan Administrative Agent”, and together with the Term Loan Administrative
Agent, each an Administrative Agent and collectively the “Administrative Agents”) and as
the collateral agent for the Secured Parties (in such capacity, the “Collateral Agent”),
and KEYBANK NATIONAL ASSOCIATION as the documentation agent (in such capacity, the
“Documentation Agent”).

W I T N E S S E T H:

WHEREAS, the Company intends to refinance (the “Refinancing”) certain existing
Indebtedness and pay fees, costs and expenses related hereto and thereto (the foregoing, together
with the Refinancing and all other transactions related hereto and thereto, collectively, the
“Transaction”);

WHEREAS, the Lenders and the Issuers are willing, on the terms and subject to the conditions
hereinafter set forth, to extend the Commitments, make Loans and issue (or participate in) Letters
of Credit;

NOW, THEREFORE, the parties hereto agree as follows.

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

SECTION 1.1 Defined Terms. The following terms (whether or not underscored) when used
in this Agreement, including its preamble and recitals, shall, except where the context otherwise
requires, have the following meanings (such meanings to be equally applicable to the singular and
plural forms thereof):

“Account” means any account (as that term is defined in Section 9-102 of the UCC) of
the Company or any of its Subsidiaries arising from the sale or lease of goods or rendering of
services.

“Account Debtor” means any Person who is or who may become obligated under, with
respect to, or on account of, an account, chattel paper, or a general intangible, in each case, as
such term is defined under the UCC.

“Administrative Agent” and “Administrative Agents” are defined in the
preamble and includes each other Person appointed as a successor Administrative Agent
pursuant to Section 9.4.

“Affected Lender” is defined in Section 4.10.

“Affiliate” of any Person means any other Person which, directly or indirectly,
controls, is controlled by or is under common control with such Person. “Control” of a Person
means the power, directly or indirectly, (a) to vote 10% or more of the Capital Securities (on a
fully diluted basis) of such Person having ordinary voting power for the election of directors,
managing members or general partners (as applicable) or (b) to direct or cause the direction of the
management and policies of such Person (whether by contract or otherwise).

“Agents” means, collectively, the Administrative Agents and the Collateral Agent.

“Agreement” means, on any date, this Credit Agreement as originally in effect on the
Closing Date and as thereafter from time to time amended, supplemented, amended and restated or
otherwise modified from time to time and in effect on such date.

“Alternate Base Rate” means, on any date and with respect to all Base Rate Loans, a
fluctuating rate of interest per annum (rounded upward, if necessary, to the next highest 1/16 of
1%) equal to the higher of (a) the Base Rate in effect on such day; and (b) the Federal Funds Rate
in effect on such day plus 1/2 of 1%. Changes in the rate of interest on that portion of any Loans
maintained as Base Rate Loans will take effect simultaneously with each change in the Alternate
Base Rate. The Revolving Loan Administrative Agent will give notice promptly to the Company and
the Lenders of changes in the Alternate Base Rate; provided that the failure to give such
notice shall not affect the Alternate Base Rate in effect after such change.

“Alternate Currency” means Euros or Yen, as the case may be.

“Alternate Currency Commitment” means, relative to any Lender, such Lender’s
obligation (if any) to make Alternate Currency Loans pursuant to clause (a) of Section
2.1.1.

“Alternate Currency Commitment Amount” means, on any date, a maximum amount equal to
the Dollar Equivalent of $100,000,000, as such amount may be permanently reduced by
Section 2.2.

“Alternate Currency Equivalent” means, with respect to any amount denominated in
Dollars, the equivalent amount thereof in the applicable Alternate Currency as determined by the
Revolving Loan Administrative Agent at such time on the basis of the Spot Rate (determined in
respect of the most recent Revaluation Date) for the purchase of such Alternate Currency with
Dollars.

“Alternate Currency Loan” means any Revolving Loan denominated in an Alternate
Currency.

“Applicant Borrower” is defined in clause (a) of Section 2.9.

“Applicable Commitment Fee Margin” means:

(a) with respect to the Revolving Loan Commitment, the applicable percentage set forth
below corresponding to the relevant Index Debt Rating:

	 	 	 	 	 	 	 	 	 
	 	 	Index Debt Rating	 	Applicable Commitment Fee
	 	 	Moody’s/S&P	 	Margin for Revolving Loan
	 	 	 	 	 	 	Commitment
	Level I
	 	Ba1/BB+
	 	 	0.250	%
	Level II
	 	Ba2/BB
	 	 	0.375	%
	Level III
	 	Below Ba2/BB
	 	 	0.500	%

For purposes of determining the Applicable Commitment Fee Margin hereunder, (i) if
either Moody’s or S&P shall not have in effect an Index Debt Rating (other than by reason of
the circumstances referred to in the last sentence hereof), then such Rating Agency shall be
deemed to have established a Level III rating, (ii) if the Index Debt Rating shall fall
within different Levels, the Applicable Commitment Fee Margin shall be based on the lower of
the two ratings and (iii) if the Index Debt Rating shall be changed (other than as a result
of a change in the rating system of Moody’s or S&P), such change shall be effective as of
the date on which it is first announced by the applicable Rating Agency. Each change in the
Applicable Commitment Fee Margin shall apply during the period commencing on the effective
date of such change and ending on the date immediately preceding the effective date of the
next such change. If the rating system of Moody’s or S&P shall change, or if either such
Rating Agency shall cease to be in the business of rating corporate debt obligations, the
Borrowers and the Lenders shall negotiate in good faith to amend this definition to reflect
such changed rating system or the unavailability of ratings from such Rating Agency and,
pending the effectiveness of any such amendment, the Applicable Commitment Fee Margin shall
be determined by reference to the rating most recently in effect prior to such change or
cessation.

(b) with respect to the Term Loan Commitment, the applicable percentage set forth below
corresponding to the relevant period:

	 	 	 	 	 
	 	 	Applicable
	 	 	Commitment Fee Margin for
	Period	 	Term Loan Commitment
	The Closing Date through and including the
90th day thereafter
	 	 	0.75	%
	the 91st day thereafter through and
including the 180th day thereafter
	 	 	1.00	%
	the 181st day thereafter through and
including the 270th day thereafter
	 	 	1.25	%
	the 271st day thereafter through and
including the Term Loan Commitment
Termination Date
	 	 	1.50	%

“Applicable Margin” means:

(a) with respect to Term Loans, 2.25% for Base Rate Loans and 3.25% for LIBO Rate Loans; and

(b) with respect to Revolving Loans and Swing Line Loans (other than Swing Line Loans being
maintained as Money Market Rate Loans), the applicable percentage set forth below corresponding to
the relevant Index Debt Rating:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Index Debt Rating	 	Applicable	 	Applicable
	 	 	Moody’s/S&P	 	Margin for	 	Margin for
	 	 	 	 	 	 	Base Rate Loans	 	LIBO Rate Loans
	Level I
	 	Ba1/BB+
	 	 	0.75	%	 	 	1.75	%
	Level II
	 	Ba2/BB
	 	 	1.00	%	 	 	2.00	%
	Level III
	 	Ba3/BB-
	 	 	1.25	%	 	 	2.25	%
	Level IV
	 	 	B1/B+	 	 	 	1.75	%	 	 	2.75	%
	Level V
	 	At or below B2/B
	 	 	2.25	%	 	 	3.25	%

For purposes of determining the Applicable Margin hereunder, (i) if either Moody’s or S&P shall not
have in effect an Index Debt Rating (other than by reason of the circumstances referred to in the
last sentence hereof), then such Rating Agency shall be deemed to have established a Level IV
rating, (ii) if the Index Debt Rating shall fall within different Levels, the Applicable Margin
shall be based on the lower of the two ratings and (iii) if the Index Debt Rating shall be changed
(other than as a result of a change in the rating system of Moody’s or S&P), such change shall be
effective as of the date on which it is first announced by the applicable Rating Agency. Each
change in the Applicable Margin shall apply during the period commencing on the effective date of
such change and ending on the date immediately preceding the effective date of the next such
change. If the rating system of Moody’s or S&P shall change, or if either such Rating Agency shall
cease to be in the business of rating corporate debt obligations, the Borrowers and the Lenders
shall negotiate in good faith to amend this definition to reflect such changed rating system or the
unavailability of ratings from such Rating Agency and, pending the effectiveness of any such
amendment, the Applicable Margin for Revolving Loans and Swing Line Loans (other than Swing Line
Loans being maintained as Money Market Rate Loans) shall be determined by reference to the rating
most recently in effect prior to such change or cessation. Notwithstanding the foregoing, until
the SEC Filing Date, the Applicable Margins set forth above shall in each case automatically be
increased by 0.50%.

“Approved Fund” means any Person (other than a natural Person) that (a) is engaged in
making, purchasing, holding or otherwise investing in commercial loans and similar extensions of
credit in the ordinary course of its business and (b) is administered or managed by a Lender, an
Affiliate of a Lender or a Person or an Affiliate of a Person that administers or manages a Lender.

“Authorized Officer” means, relative to any Obligor, those of its officers, general
partners, managing members or other authorized person(s) (as applicable) whose signatures and
incumbency shall have been certified to the Administrative Agents, the Lenders and the Issuers
pursuant to Section 5.1.1.

“Available” means, in respect of any Alternate Currency and any Lender, that such
Alternate Currency is, at the relevant time, readily available to such Lender as deposits in the
London or other applicable interbank market in the relevant amount and for the relevant term, is
freely convertible into Dollars and is freely transferable for the purposes of this Agreement, but
if, notwithstanding that each of the foregoing tests is satisfied:

(a) such Alternate Currency is, under the then current legislation or regulations of
the country of such Alternate Currency (or under the policy of the central bank of such
country) or the F.R.S. Board, not permitted to be used for the purposes of this Agreement;

(b) there is no, or only insignificant, investor demand for the making of advances
having an interest period equivalent to that for the LIBO Rate Loan denominated in an
Alternate Currency which the Borrowers have requested be made; or

(c) there are policy or other reasons which make it undesirable or impractical for a
Lender to make a LIBO Rate Loan denominated in such Alternate Currency available as
determined by such Lender in its sole discretion;

then such Alternate Currency may be treated by any Lender as not being Available.

“Base Rate” means, at any time, (a) with respect to Term Loans, the rate of interest
then most recently established by CS in New York, New York as its base rate for Dollars loaned in
the United States and (b) with respect to Revolving Loans and Swing Line Loans, the rate of
interest then most recently established by National City in Cleveland, Ohio as its base rate for
Dollars loaned in the United States. The Base Rate is not necessarily intended to be the lowest
rate of interest determined by the Administrative Agents in connection with extensions of credit.

“Base Rate Loan” means a Loan denominated in Dollars bearing interest at a fluctuating
rate determined by reference to the Alternate Base Rate.

“Borrower” and “Borrowers” are defined in the preamble.

“Borrowing” means the Loans of the same type and, in the case of LIBO Rate Loans,
having the same Interest Period made by all Lenders required to make such Loans on the same
Business Day and pursuant to the same Borrowing Request in accordance with Section 2.3.

“Borrowing Request” means a Loan request and certificate duly executed by an
Authorized Officer of a Borrower substantially in the form of Exhibit B-1 hereto.

“Business Day” means: (a) any day which is neither a Saturday or Sunday nor a legal
holiday on which banks are authorized or required to be closed in New York, New York; and
(b)relative to the making, continuing, prepaying or repaying of any LIBO Rate Loans, any day which
is a Business Day described in clause (a) above and (i) on which dealings in the relevant
currency are carried on in the London interbank eurodollar market and (ii) in the case of LIBO Rate
Loans denominated in an Alternate Currency, on which banks in the country for which such Alternate
Currency is the lawful currency are not authorized or required to be closed.

“Capital Expenditures” means, for any period, the aggregate amount of all expenditures
of the Company and its Subsidiaries for fixed or capital assets made during such period which, in
accordance with GAAP, would be classified as capital expenditures.

“Capital Securities” means, with respect to any Person, all shares, interests,
participations or other equivalents (however designated, whether voting or non-voting) of such
Person’s capital, whether now outstanding or issued after the Closing Date.

“Capitalized Lease Liabilities” means, with respect to any Person, all monetary
obligations of such Person and its Subsidiaries under any leasing or similar arrangement which have
been (or, in accordance with GAAP, should be) classified as capitalized leases, and for purposes of
each Loan Document the amount of such obligations shall be the capitalized amount thereof,
determined in accordance with GAAP, and the stated maturity thereof shall be the date of the last
payment of rent or any other amount due under such lease prior to the first date upon which such
lease may be terminated by the lessee without payment of a premium or a penalty.

“Cash Collateralize” means, with respect to a Letter of Credit, the deposit of
immediately available funds into a cash collateral account maintained with (or on behalf of) the
Revolving Loan Administrative Agent on terms satisfactory to the Revolving Loan Administrative
Agent in an amount equal to the Stated Amount of such Letter of Credit.

“Cash Equivalent Investment” means, at any time:

(a) any direct obligation of (or unconditionally guaranteed by) the United States or a
State thereof (or any agency or political subdivision thereof, to the extent such
obligations are supported by the full faith and credit of the United States or a State
thereof) maturing not more than one year after such time;

(b) commercial paper maturing not more than 270 days from the date of issue, which is
issued by (i) a corporation (other than an Affiliate of any Obligor) organized under the
laws of any State of the United States or of the District of Columbia and rated A-1 or
higher by S&P or P-1 or higher by Moody’s, or (ii) any Lender (or its holding company);

(c) any certificate of deposit, time deposit or bankers acceptance, maturing not more
than one year after its date of issuance, which is issued by either (i) any bank organized
under the laws of the United States (or any State thereof) and which has (x) a credit rating
of A2 or higher from Moody’s or A or higher from S&P and (y) a combined capital and surplus
greater than $500,000,000, or (ii) any Lender; or

(d) any repurchase agreement having a term of 30 days or less entered into with any
Lender or any commercial banking institution satisfying the criteria set forth in
clause (c)(i) which (i) is secured by a fully perfected security interest in any
obligation of the type described in clause (a), and (ii) has a market value at the
time such repurchase agreement is entered into of not less than 100% of the repurchase
obligation of such commercial banking institution thereunder.

“Casualty Event” means the damage, destruction or condemnation, as the case may be, of
property of any Person or any of its Subsidiaries.

“CERCLA” means the Comprehensive Environmental Response, Compensation and Liability
Act of 1980, as amended.

“CERCLIS” means the Comprehensive Environmental Response Compensation Liability
Information System List.

“Change in Control” means:

(a) any person or group (within the meaning of Sections 13(d) and 14(d) under the
Exchange Act), shall become the ultimate “beneficial owner” (as defined in Rules 13d-3 and
13d-5 under the Exchange Act) of, or enter into contracts or arrangements whereby they will
acquire or control, directly or indirectly, Capital Securities or Voting Securities
representing 25% or more of the Capital Securities or Voting Securities of the Company on a
fully diluted basis;

(b) during any period of up to 24 consecutive months, individuals who at the beginning
of such period constituted the Board of Directors of the Company (together with any new
directors whose election to such Board or whose nomination for election by the stockholders
of the Company was approved by a vote of at least two-thirds of the directors then still in
office who were either directors at the beginning of such period or whose election or
nomination for election was previously so approved) cease for any reason to constitute a
majority of the Board of Directors of the Company then in office; or

(c) the shareholders of the Company approve a plan of complete liquidation of the
Company or an agreement or agreements for the sale or disposition by the Company of all or
substantially all of the Company’s assets.

“Closing Date” means the date this Agreement becomes effective pursuant to
Section 10.8, but in no event shall such date be later than June 29, 2006.

“Closing Date Certificate” means the closing date certificate executed and delivered
by an Authorized Officer of the Company in form and substance satisfactory to the Administrative
Agents.

“Code” means the Internal Revenue Code of 1986, and the regulations thereunder, in
each case as amended, reformed or otherwise modified from time to time.

“Collateral Agent” is defined in the preamble and includes each other Person
appointed as the successor Collateral Agent pursuant to Section 9.4.

“Collateral Sharing Agreement” means the Collateral Sharing Agreement, dated as of the
Closing Date, among the Obligors, the Collateral Agent and J. P. Morgan Trust Company, National
Association, as trustee under the Indentures, as amended, supplemented, amended and restated or
otherwise modified from time to time.

“Collections” means all cash, checks, notes, instruments and other items of payment
(including insurance proceeds, proceeds of cash sales, rental proceeds and Tax refunds) of the
Company and its Subsidiaries.

“Commitment” means, as the context may require, the Term Loan Commitment, the
Revolving Loan Commitment, the Alternate Currency Commitment, the Letter of Credit Commitment or
the Swing Line Loan Commitment.

“Commitment Amount” means, as the context may require, the Term Loan Commitment
Amount, the Alternate Currency Commitment Amount, the Revolving Loan Commitment Amount, the Letter
of Credit Commitment Amount or the Swing Line Loan Commitment Amount.

“Commitment Termination Date” means, as the context may require, the Term Loan
Commitment Termination Date or the Revolving Loan Commitment Termination Date.

“Commitment Termination Event” means:

(a) the occurrence of any Event of Default with respect to the Company described in
clauses (a) through (d) of Section 8.1.9; or

(b) the occurrence and continuance of any other Event of Default and either:

(i) the declaration of all or any portion of the Loans to be due and payable
pursuant to Section 8.3, or

(ii) the giving of notice by the Administrative Agents, acting at the direction
of the Required Lenders, to the Company that the Commitments have been terminated.

“Communications” is defined in clause (a) of Section 9.10.

“Company” is defined in the preamble.

“Compliance Certificate” means a certificate duly completed and executed by an
Authorized Officer of the Company, substantially in the form of Exhibit E hereto, together
with such changes thereto as the Administrative Agents may from time to time request for the
purpose of monitoring the Company’s compliance with the financial covenants contained herein.

“Contingent Liability” means any agreement, undertaking or arrangement by which any
Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or
indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or
otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the Indebtedness
of any other Person (other than by endorsements of instruments in the course of collection), or
guarantees the payment of dividends or other distributions upon the Capital Securities of any other
Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any
limitation set forth therein) be deemed to be the outstanding principal amount of the debt,
obligation or other liability guaranteed thereby. For the avoidance of doubt, “Contingent
Liability” shall not include “take-or-pay” obligations for less than twelve months for inventory
acquired in the ordinary course of business; provided that such twelve-month limitation
shall not apply to “take-or-pay” obligations with respect to natural gas acquired in the ordinary
course of business.

“Continuation/Conversion Notice” means a notice of continuation or conversion and
certificate duly executed by an Authorized Officer of the Company, substantially in the form of
Exhibit C hereto.

“Control Agreement” means an agreement in form and substance satisfactory to the
Collateral Agent which provides for the Collateral Agent to have “control” (as defined in Section
8-106 of the UCC, as such term relates to investment property (other than certificated securities
or commodity contracts), or as used in Section 9-106 of the UCC, as such term relates to commodity
contracts, or as used in Section 9-104(a) of the UCC, as such term relates to deposit accounts).

“Controlled Group” means all members of a controlled group of corporations and all
members of a controlled group of trades or businesses (whether or not incorporated) under common
control which, together with the Company, are treated as a single employer under Section 414(b) or
414(c) of the Code or Section 4001 of ERISA.

“Copyright Pledge and Security Agreement” means any Copyright Security Agreement
executed and delivered by any Obligor in substantially the form of Exhibit C to the Security
Agreement, as amended, supplemented, amended and restated or otherwise modified from time to time.

“Credit Extension” means, as the context may require: (a)the making of a Loan by a
Lender; or (b) the issuance of any Letter of Credit, or the extension of any Stated Expiry Date of
any existing Letter of Credit, by an Issuer.

“CS” is defined in the preamble.

“Currency” and “Currencies” means Dollars, Euros and Yen.

“Current GAAP Financials” is defined in Section 1.4.

“Default” means any Event of Default or any condition, occurrence or event which,
after notice or lapse of time or both, would constitute an Event of Default.

“Deposit Account” means a “deposit account” as that term is defined in Section
9-102(a) of the UCC.

“Designated Borrower” is defined in the preamble.

“Designated Borrower Notice” is defined in clause (a) of Section 2.9.

“Designated Borrower Obligations” means all Obligations of each Designated Borrower.

“Designated Borrower Request and Assumption Agreement” is defined in clause
(a) of Section 2.9.

“Disbursement” is defined in Section 2.7.2.

“Disbursement Date” is defined in Section 2.7.2.

“Disclosure Schedule” means the Disclosure Schedule attached hereto as
Schedule I, as it may be amended, supplemented, amended and restated or otherwise modified
from time to time by the Company with the written consent of the Required Lenders.

“Disposition” (or similar words such as “Dispose”) means any sale, transfer,
lease, contribution or other conveyance (including by way of merger) of, or the granting of
options, warrants or other rights to, any of the Borrowers’ or their Subsidiaries’ assets
(including accounts receivable and Capital Securities of Subsidiaries) to any other Person in a
single transaction or series of transactions.

“Documentation Agent” is defined in the preamble.

“Dollar” and the sign “$” mean lawful money of the United States.

“Dollar Equivalent” means, as of any date of determination, (a) as to any amount
denominated in Dollars, such amount in Dollars, and (b) as to any amount denominated in an
Alternate Currency, the equivalent amount thereof in Dollars as determined by the Revolving Loan
Administrative Agent on the basis of the Spot Rate for the purchase of Dollars with such Alternate
Currency.

“Domestic Office” means the office of a Lender designated as its “Domestic Office” on
Schedule II hereto or in a Lender Assignment Agreement, or such other office within the
United States as may be designated from time to time by notice from such Lender to the applicable
Administrative Agent and the Company.

“EBITDA” means, for any applicable period, the sum of (a) Net Income, plus (b)
to the extent deducted in determining Net Income, the sum of (i) amounts attributable to
amortization, (ii) income tax expense, (iii) Interest Expense, (iv) depreciation of assets, (v)
expenses incurred in connection with the Company’s accounting investigations and audit expenses in
an aggregate amount not to exceed $10,000,000 for each of the 2005 Fiscal Year and 2006 Fiscal
Year, respectively, and (vi) restructuring expenses (including expenses relating to modifications
to the Company’s retirement programs) in an aggregate amount not to exceed $30,000,000 in the
aggregate for the 2006 and 2007 Fiscal Years.

“Eligible Assignee” means (a) in the case of an assignment of a Term Loan or Term Loan
Commitment, any Person (other than an Ineligible Assignee) and (b) in the case of any assignment of
the Revolving Loan Commitment, (i) a Revolving Loan Lender or (ii) any other Person (other than an
Ineligible Assignee) with the consent of the Company (such consent not to be unreasonably withheld
or delayed) unless (A) the assignment is being made to an Affiliate of a Lender or an Approved
Fund, (B) the assignment is being made to such Person by the Revolving Loan Administrative Agent
during the Primary Syndication (in which case the Revolving Loan Administrative Agent shall consult
with the Company prior to any such assignment), or (C) an Event of Default has occurred and is
continuing.

“EMU” means Economic and Monetary Union as contemplated in the Treaty on European
Union.

“EMU Legislation” means legislative measures of the European Council (including
without limitation European Council regulations) for the introduction of, changeover to or
operation of a single or unified European currency (whether known as the Euro or otherwise), being
in part the implementation of the third stage of EMU.

“Environmental Laws” means all applicable federal, state or local statutes, laws,
ordinances, codes, rules, regulations and guidelines (including consent decrees and administrative
orders) relating to public health and safety and protection of the environment.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and any
successor statute thereto of similar import, together with the regulations thereunder, in each case
as in effect from time to time. References to Sections of ERISA also refer to any successor
Sections thereto.

“ESS” is defined in clause (a) of Section 10.11.

“Euro” means the single currency of Participating Member States of the European Union.

“Event of Default” is defined in Section 8.1.

“Excess Cash Flow” means, for any Fiscal Year, the excess (if any), of (a) EBITDA for
such Fiscal Year less (b) the sum (for such Fiscal Year) of (i) Interest Expense actually
paid in cash by the Company and its Subsidiaries, (ii) scheduled and voluntary principal
repayments, to the extent actually made, of Term Loans pursuant to clause (c) of
Section 3.1.1, (iii) all income Taxes actually paid in cash by the Company and its
Subsidiaries, (iv) Capital Expenditures actually made by the Company and its Subsidiaries and (v)
all Restricted Payments actually made by the Company in such Fiscal Year.

“Excluded Property” means the Georgia Property and Niagara Falls Property.

“Exemption Certificate” is defined in clause (e) of Section 4.6.

“Exchange Act” means the Securities Exchange Act of 1934, as amended.

“Federal Funds Rate” means, for any period, a fluctuating interest rate per annum
equal for each day during such period to (a) the weighted average of the rates on overnight federal
funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as
published for such day (or, if such day is not a Business Day, for the next preceding Business Day)
by the Federal Reserve Bank of New York or (b) if such rate is not so published for any day which
is a Business Day, the average of the quotations for such day on such transactions received by
National City from three federal funds brokers of recognized standing selected by it.

“Fee Letter” means the confidential letter, dated March 24, 2006, among the Company,
National City, CS and Credit Suisse Securities (USA), LLC.

“Ferro Electronic” means Ferro Electronic Materials Inc., a Delaware corporation.

“Ferro PF” means Ferro Pfanstiehl (Europe) Ltd., a company organized under the laws of
England.

“Filing Agent” is defined in Section 5.1.12.

“Filing Statements” is defined in Section 5.1.12.

“Fiscal Quarter” means a quarter ending on the last day of March, June, September or
December.

“Fiscal Year” means any period of twelve consecutive calendar months ending on
December 31; references to a Fiscal Year with a number corresponding to any calendar year
(e.g., the “2006 Fiscal Year”) refer to the Fiscal Year ending on December 31 of such
calendar year.

“Fixed Charge Coverage Ratio” means, as of the close of any Fiscal Quarter, the ratio
computed for the period consisting of such Fiscal Quarter and each of the three immediately
preceding Fiscal Quarters of (a) EBITDA (for all such Fiscal Quarters) minus Capital Expenditures
made during such Fiscal Quarters to (b) the sum (for all such Fiscal Quarters) of
(i) Interest Expense actually paid in cash during such Fiscal Quarters (excluding initial issuance
costs paid in connection with Indebtedness incurred in respect of the Obligations), (ii) scheduled
principal repayments of Indebtedness (other than Indebtedness issued under the Indentures) actually
made during such Fiscal Quarters (including repayments of the Term Loans pursuant to
clause (c) of Section 3.1.1), (iii) finance expenses paid in connection with the
Permitted Receivables Program during such Fiscal Quarters, and (iv) Restricted Payments made by the
Company during such Fiscal Quarters.

“Foreign Pledge Agreement” means any supplemental pledge agreement governed by the
laws of a jurisdiction other than the United States or a State thereof executed and delivered by
the Company or any of its Subsidiaries pursuant to the terms of this Agreement, in form and
substance satisfactory to the Collateral Agent, as may be necessary or desirable under the laws of
organization or incorporation of a Subsidiary to further protect or perfect the Lien on and
security interest in any Collateral (as defined in the Security Agreement).

“Foreign Subsidiary” means any Subsidiary that is not a U.S. Subsidiary.

“Fronting Fee” is defined in clause (b) of Section 3.3.3.

“F.R.S. Board” means the Board of Governors of the Federal Reserve System or any
successor thereto.

“GAAP” means, with respect to the interpretation of all accounting terms used herein
and in each other Loan Document, the calculation of all accounting determinations and computations
required to be made hereunder or thereunder (including under Section 7.2.4 and in respect
of any defined terms used herein or in any other Loan Document), those U.S. generally accepted
accounting principles applied in the preparation of the audited consolidated financial statements
of the Company for the Fiscal Year ended December 31, 2004.

“Georgia Property” means the Company’s real property located at Meadow Brook
Industrial Park in Toccoa, Georgia.

“Governmental Authority” means the government of the United States, any other nation
or any political subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other Person exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to
government.

“Granting Lender” is defined in clause (i) of Section 10.11.

“Guarantor” means, collectively, the Company and each Subsidiary Guarantor.

“Hazardous Material” means:

(a) any “hazardous substance”, as defined by CERCLA;

(b) any “hazardous waste”, as defined by the Resource Conservation and Recovery Act, as
amended; or

(c) any pollutant or contaminant or hazardous, dangerous or toxic chemical, material or
substance (including any petroleum product) within the meaning of any other applicable
federal, state or local law, regulation, ordinance or requirement (including consent decrees
and administrative orders) relating to or imposing liability or standards of conduct
concerning any hazardous, toxic or dangerous waste, substance or material, all as amended.

“Hedging Obligations” means, with respect to any Person, all liabilities of such
Person under currency exchange agreements, interest rate swap agreements, interest rate cap
agreements and interest rate collar agreements, and all other agreements or arrangements designed
to protect such Person against fluctuations in interest rates, currency exchange rates or commodity
prices.

“herein”, “hereof”, “hereto”, “hereunder” and similar terms
contained in any Loan Document refer to such Loan Document as a whole and not to any particular
Section, paragraph or provision of such Loan Document.

“Impermissible Qualification” means any qualification or exception to the opinion or
certification of any independent public accountant as to any financial statement of the Company:

(a) which is of a “going concern” or similar nature (other than in connection with the
Company’s 2004 financial statements);

(b) which relates to the limited scope of examination of matters relevant to such
financial statement; or

(c) which relates to the treatment or classification of any item in such financial
statement and which, if adjusted in the manner deemed appropriate by the Company’s
independent public accountants, would have the effect of causing the Company to be in
Default.

The foregoing notwithstanding, it shall not be considered an Impermissible Qualification for
audited financial statements for the 2005 Fiscal Year:

(i) if the Company receives a disclaimer because the Company’s auditors were
not engaged until after the close of the 2005 Fiscal Year and thus were not involved
during the 2005 Fiscal Year in reviewing the Company’s internal controls and
procedures;

(ii) if the Company receives a qualification or disclaimer because the
Company’s auditors were not engaged until after the close of the 2005 Fiscal Year
and thus did not observe the Company’s physical inventory for the 2005 Fiscal Year;
or

(iii) if the SEC and/or any national securities exchange takes the position,
based on clauses (i) or (ii) above, that as a result of such qualification or
disclaimer, the Company is not in compliance with SEC filing requirements or the
applicable listing standard.

“including” and “include” means including without limiting the generality of
any description preceding such term, and, for purposes of each Loan Document, the parties hereto
agree that the rule of ejusdem generis shall not be applicable to limit a general statement, which
is followed by or referable to an enumeration of specific matters, to matters similar to the
matters specifically mentioned.

“Indebtedness” of any Person means:

(a) all obligations of such Person for borrowed money or advances and all obligations
of such Person evidenced by bonds, debentures, notes or similar instruments;

(b) all obligations, contingent or otherwise, relative to the face amount of all
letters of credit, whether or not drawn, and banker’s acceptances issued for the account of
such Person;

(c) all Capitalized Lease Liabilities of such Person;

(d) for purposes of Section 8.1.5 only, all other items which, in accordance
with GAAP, would be included as liabilities on the balance sheet of such Person as of the
date at which Indebtedness is to be determined;

(e) net Hedging Obligations of such Person;

(f) whether or not so included as liabilities in accordance with GAAP, all obligations
of such Person to pay the deferred purchase price of property or services (excluding trade
accounts payable in the ordinary course of business which are not overdue for a period of
more than 90 days or, if overdue for more than 90 days, as to which a dispute exists and
adequate reserves in conformity with GAAP have been established on the books of such
Person), and indebtedness secured by (or for which the holder of such indebtedness has an
existing right, contingent or otherwise, to be secured by) a Lien on property owned or being
acquired by such Person (including indebtedness arising under conditional sales or other
title retention agreements), whether or not such indebtedness shall have been assumed by
such Person or is limited in recourse;

(g) obligations arising under Synthetic Leases;

(h) the full outstanding balance of trade receivables, notes or other instruments sold
with full recourse (and the portion thereof subject to potential recourse, if sold with
limited recourse), other than in any such case any thereof sold solely for purposes of
collection of delinquent accounts and other than in connection with any Permitted
Receivables Program;

(i) all obligations (other than intercompany obligations) of such Person pursuant to
any Permitted Receivables Program;

(j) the stated value, or liquidation value if higher, of all Redeemable Stock of such
Person; and

(k) all Contingent Liabilities of such Person in respect of any of the foregoing.

The Indebtedness of any Person shall include the Indebtedness of any other Person (including any
partnership in which such Person is a general partner) to the extent such Person is liable therefor
as a result of such Person’s ownership interest in or other relationship with such Person, except
to the extent the terms of such Indebtedness provide that such Person is not liable therefor.
Neither trade payables nor other similar accrued expenses, in each case arising in the ordinary
course of business, nor obligations in respect of insurance policies or performance or surety bonds
which themselves are not guarantees of Indebtedness (nor drafts, acceptances or similar instruments
evidencing the same nor obligations in respect of letters of credit supporting the payment of the
same), shall constitute Indebtedness. For the avoidance of doubt and to the extent not previously
excluded from Indebtedness, “take-or-pay” obligations for less than twelve months for inventory
acquired in the ordinary course of business shall not constitute Indebtedness; provided
that such twelve-month limitation shall not apply to “take-or-pay” obligations with respect to
natural gas acquired in the ordinary course of business.

“Indemnified Liabilities” is defined in Section 10.4.

“Indemnified Parties” is defined in Section 10.4.

“Indentures” means, collectively, (a) that certain Indenture, dated as of March 25,
1998, among the Company and J. P. Morgan Trust Company, National Association (successor-in-interest
to Chase Manhattan Trust Company, National Association), as trustee (and any successor trustee(s))
and (b) that certain Indenture, dated as of May 1, 1993, among the Company and J. P. Morgan Trust
Company, National Association (successor-in-interest to Society National Bank), as trustee (and any
successor trustee(s)), in each case as amended, supplemented, amended and restated or otherwise
modified from time to time.

“Index Debt” means senior, unsecured, long-term debentures or other debt securities of
the Company that are not guaranteed by any other Person or subject to any other credit support or
enhancement.

“Index Debt Rating” means, as of any date of determination, the rating of the
Company’s Index Debt, as given by the Rating Agencies in their regular rating reports.

“Ineligible Assignee” means a natural Person, the Company, any Affiliate of the
Company or any other Person taking direction from, or working in concert with, the Company or any
of the Company’s Affiliates.

“Interest Expense” means, for any applicable period, the aggregate interest expense
(both accrued and paid and net of interest income paid during such period to the Company and its
Subsidiaries) of the Company and its Subsidiaries for such applicable period, including the portion
of any payments made in respect of Capitalized Lease Liabilities allocable to interest expense.

“Interest Period” means, relative to any LIBO Rate Loan, the period beginning on (and
including) the date on which such LIBO Rate Loan is made or continued as, or converted into, a LIBO
Rate Loan pursuant to Sections 2.3 or 2.4 and shall end on (but exclude) the day
which numerically corresponds to such date one, two, three or six months thereafter (or, if such
month has no numerically corresponding day, on the last Business Day of such month), as the
applicable Borrower may select in its relevant notice pursuant to Sections 2.3 or
2.4; provided that:

(a) the Borrowers shall not be permitted to select Interest Periods to be in effect at
any one time which have expiration dates occurring on more than ten different dates;

(b) if such Interest Period would otherwise end on a day which is not a Business Day,
such Interest Period shall end on the next following Business Day (unless such next
following Business Day is the first Business Day of a calendar month, in which case such
Interest Period shall end on the Business Day next preceding such numerically corresponding
day); and

(c) no Interest Period for any Loan may end later than the Stated Maturity Date for
such Loan.

“Investment” means, relative to any Person,

(a) any loan, advance or extension of credit made by such Person to any other Person,
including the purchase by such Person of any bonds, notes, debentures or other debt
securities of any other Person;

(b) Contingent Liabilities in favor of any other Person; and

(c) any Capital Securities held by such Person in any other Person.

The amount of any Investment shall be the original principal or capital amount thereof less all
returns of principal or equity thereon and shall, if made by the transfer or exchange of property
other than cash, be deemed to have been made in an original principal or capital amount equal to
the fair market value of such property at the time of such Investment.

“ISP Rules” is defined in Section 10.9.

“Issuance Request” means a Letter of Credit request and certificate duly executed by
an Authorized Officer of a Borrower, substantially in the form of Exhibit B-2 hereto.

“Issuer” means National City, in its capacity as Issuer of the Letters of Credit. At
the request of National City and with the Company’s consent (not to be unreasonably withheld),
another Lender or an Affiliate of National City may issue one or more Letters of Credit hereunder
and shall be deemed to be an Issuer.

“Judgment Currency” is defined in Section 10.16.

“Lender Assignment Agreement” means an assignment agreement substantially in the form
of Exhibit D hereto.

“Lenders” is defined in the preamble.

“Lender’s Environmental Liability” means any and all losses, liabilities, obligations,
penalties, claims, litigation, demands, defenses, costs, judgments, suits, proceedings, damages
(including consequential damages), disbursements or expenses of any kind or nature whatsoever
(including reasonable attorneys’ fees at trial and appellate levels and experts’ fees and
disbursements and expenses incurred in investigating, defending against or prosecuting any
litigation, claim or proceeding) which may at any time be imposed upon, incurred by or asserted or
awarded against either Administrative Agent, any Lender or any Issuer or any of such Person’s
Affiliates, shareholders, directors, officers, employees, and agents in connection with or arising
from:

(a) any Hazardous Material on, in, under or affecting all or any portion of any
property of the Company or any of its Subsidiaries, the groundwater thereunder, or any
surrounding areas thereof to the extent caused by Releases from the Company’s or any of its
Subsidiaries’ or any of their respective predecessors’ properties;

(b) any misrepresentation, inaccuracy or breach of any warranty, contained or referred
to in Section 6.12;

(c) any violation or claim of violation by the Company or any of its Subsidiaries of
any Environmental Laws; or

(d) the imposition of any lien for damages caused by or the recovery of any costs for
the cleanup, release or threatened release of Hazardous Material by the Company or any of
its Subsidiaries, or in connection with any property owned or formerly owned by the Company
or any of its Subsidiaries.

“Letter of Credit” is defined in Section 2.1.2.

“Letter of Credit Commitment” means the relevant Issuer’s obligation to issue Letters
of Credit pursuant to Section 2.1.2.

“Letter of Credit Commitment Amount” means, on any date, a maximum amount equal to the
Dollar Equivalent of $50,000,000, as such amount may be permanently reduced from time to time
pursuant to Section 2.2.

“Letter of Credit Outstandings” means, on any date, an amount equal to the sum of
(a) the then aggregate amount which is undrawn and available under all issued and outstanding
Letters of Credit and (b) the then aggregate amount of all unpaid and outstanding Reimbursement
Obligations.

“Leverage Ratio” means, as of the last day of any Fiscal Quarter, the ratio of (a)
Total Debt outstanding on the last day of such Fiscal Quarter to (b) EBITDA computed for
the period consisting of such Fiscal Quarter and each of the three immediately preceding Fiscal
Quarters.

“LIBO Alternate Rate” means, with respect to any Loan that is denominated in an
Alternate Currency, relative to an interest period of one month, that rate of interest determined
by the Revolving Loan Administrative Agent by reference to the cost to the Revolving Loan
Administrative Agent of obtaining deposits of such Currency from such sources as it may reasonably
select. The Revolving Loan Administrative Agent shall determine the LIBO Alternate Rate for each
such interest period (which determination shall be conclusive in the absence of manifest error),
and will promptly give notice to the Company and the Lenders thereof.

“LIBO Rate” means, relative to any Interest Period:

(a) for LIBO Rate Loans denominated in Dollars, the rate of interest equal to the
average of the rates per annum at which Dollar deposits in immediately available funds are
offered to the applicable Administrative Agent’s LIBOR Office in the London interbank market
as at or about 11:00 a.m. London, England time two Business Days prior to the beginning of
such Interest Period for delivery on the first day of such Interest Period, and in an amount
approximately equal to the amount of such Administrative Agent’s LIBO Rate Loan and for a
period approximately equal to such Interest Period; and

(b) for LIBO Rate Loans denominated in an Alternate Currency, the rate of interest
equal to the average (rounded upward, if necessary, to the next 1/16 of 1%) of the rates per
annum determined by the Revolving Loan Administrative Agent as the rate at which such
Alternate Currency deposits in immediately available funds are offered to the applicable
Administrative Agent’s LIBOR Office (or such other office as may be designated by the
Revolving Loan Administrative Agent) to major banks in the offshore interbank market at
approximately 11:00 a.m., two Business Days prior to (or on such other date as is customary
in the relevant offshore interbank market) the beginning of such Interest Period for
delivery on the first day of such Interest Period, and in an amount approximately equal to
the amount of the Revolving Loan Administrative Agent’s LIBO Rate Loan and for a period
approximately equal to such Interest Period.

“LIBO Rate Loan” means a Loan bearing interest, at all times during an Interest Period
applicable to such Loan, at a rate of interest determined by reference to the LIBO Rate (Reserve
Adjusted).

“LIBO Rate (Reserve Adjusted)” means, relative to any Loan to be made, continued or
maintained as, or converted into, a LIBO Rate Loan for any Interest Period:

(a) if denominated in Dollars or Euros, a rate per annum determined pursuant to the
following formula:

	 	 	 	 	 
	LIBO Rate

	 	=
	 	LIBO Rate
	 
	 	 	 	 
	(Reserve Adjusted)

	 	 	 	1.00 – LIBOR Reserve Percentage

(b) if denominated in Yen, the relevant LIBO Rate or LIBO Alternate Rate, as the case
may be, plus any applicable reserve or other funding costs incurred by the Lenders in making
such Loan.

The LIBO Rate (Reserve Adjusted) for any Interest Period for LIBO Rate Loans will be determined by
the applicable Administrative Agent on the basis of the LIBOR Reserve Percentage in effect, and the
applicable rates furnished to and received by such Administrative Agent, two Business Days before
the first day of such Interest Period.

“LIBOR Office” means the office of a Lender designated as its “LIBOR Office” on
Schedule II hereto or in a Lender Assignment Agreement, or such other office designated
from time to time by notice from such Lender to the Company and the Administrative Agents, whether
or not outside the United States, which shall be making or maintaining the LIBO Rate Loans of such
Lender.

“LIBOR Reserve Percentage” means, relative to any Interest Period for LIBO Rate Loans,
the reserve percentage (expressed as a decimal) equal to the maximum aggregate reserve requirements
(including all basic, emergency, supplemental, marginal and other reserves and taking into account
any transitional adjustments or other scheduled changes in reserve requirements) specified under
regulations issued from time to time by the F.R.S. Board and then applicable to assets or
liabilities consisting of or including “Eurocurrency Liabilities”, as currently defined in
Regulation D of the F.R.S. Board, having a term approximately equal or comparable to such Interest
Period.

“Lien” means any security interest, mortgage, pledge, hypothecation, assignment,
deposit arrangement, encumbrance, lien (statutory or otherwise), charge against or interest in
property, or other priority or preferential arrangement of any kind or nature whatsoever.

“Loan Documents” means, collectively, this Agreement, the Notes, the Letters of
Credit, the Fee Letter, the Collateral Sharing Agreement, each agreement pursuant to which the
Collateral Agent is granted a Lien to secure the Obligations, each Subsidiary Guaranty and each
other agreement, certificate, document or instrument delivered in connection with any Loan
Document, whether or not specifically mentioned herein or therein.

“Loans” means, as the context may require, a Revolving Loan, an Alternate Currency
Loan, a Term Loan or a Swing Line Loan of any type.

“Material Adverse Effect” means a material adverse effect on (a) the business,
condition (financial or otherwise), operations, performance, properties or, until the Closing Date,
prospects of the Company or the Company and its Subsidiaries taken as a whole, (b) the rights and
remedies of any Secured Party under any Loan Document or (c) the ability of any Obligor to perform
its Obligations under any Loan Document.

“Material Debt” means the Indebtedness of the Company and its Subsidiaries under the
Permitted Receivables Program and the Indentures.

“Material Debt Documents” means collectively, the loan agreements, indentures, note
purchase agreements, promissory notes, guarantees, and other instruments and agreements evidencing
the terms of any Material Debt, each as amended, supplemented, amended and restated or otherwise
modified in accordance with Section 7.2.9.

“Money Market Rate Loan” means a Swing Line Loan denominated in Dollars bearing
interest at a rate determined by reference to the Quoted Rate.

“Moody’s” means Moody’s Investors Service, Inc. and its successors.

“Mortgage” means each mortgage, deed of trust, leasehold mortgage, leasehold deed of
trust or other agreement executed and delivered by any Obligor in favor of the Collateral Agent for
the benefit of the Secured Parties pursuant to the requirements of this Agreement, in form and
substance reasonably satisfactory to the Collateral Agent, under which a valid, perfected, first
priority Lien is granted on the real property and fixtures, or leasehold estate (if applicable),
described therein, in each case as amended, supplemented, amended and restated or otherwise
modified from time to time.

“National City” is defined in the preamble.

“Net Casualty Proceeds” means, with respect to any Casualty Event, the amount of any
insurance proceeds or condemnation awards received by the Company or any of its Subsidiaries in
connection with such Casualty Event in excess of $2,500,000, individually or in the aggregate over
the course of a Fiscal Year (net of all reasonable and customary collection expenses thereof), but
excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which
holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the
property which is the subject of such Casualty Event.

“Net Debt Proceeds” means, with respect to the sale or issuance by the Company or any
of its Subsidiaries of any Indebtedness to any other Person after the Closing Date which is not
expressly permitted by Section 7.2.2, the excess of (a) the gross cash proceeds actually
received by such Person from such sale or issuance, over (b) all customary arranging or
underwriting discounts, fees and commissions, and all legal, investment banking, brokerage and
accounting and other professional fees, sales commissions and disbursements and other customary
closing costs and expenses actually incurred in connection with such sale or issuance other than
any such fees, discounts, commissions or disbursements paid to Affiliates of the Company or any
such Subsidiary in connection therewith.

“Net Disposition Proceeds” means, with respect to any Disposition by the Company, its
U.S. Subsidiaries or any Subsidiary Guarantor pursuant to clauses (c) and (f) of
Section 7.2.8 and any cash payment received in respect of promissory notes or other
non-cash consideration delivered to the Company or such Subsidiary in respect thereof, the excess
of (a) the gross cash proceeds received by the Company or such Subsidiary over (b) the sum of (i)
all reasonable and customary legal, investment banking, brokerage and accounting fees and expenses
incurred in connection with such Disposition, (ii) all taxes actually paid or accrued by the
Company to be payable in cash in connection with such Disposition, and (iii) payments made by the
Company or such Subsidiary to retire Indebtedness (other than the Credit Extensions) where payment
of such Indebtedness is required in connection with such Disposition; provided that if the
amount of any accrued taxes pursuant to clause (ii) exceeds the amount of taxes actually
required to be paid in cash in respect of such Disposition, the aggregate amount of such excess
shall constitute Net Disposition Proceeds.

“Net Equity Proceeds” means, with respect to the sale or issuance after the Closing
Date by the Company to any Person of any of its Capital Securities, warrants or options or the
exercise of any such warrants or options, the excess of (a) the gross cash proceeds
received by the Company from such sale, exercise or issuance, over (b) all reasonable and
customary underwriting commissions and legal, investment banking, brokerage and accounting and
other professional fees, sales commissions and disbursements actually incurred in connection with
such sale or issuance which have not been paid to Affiliates of the Company in connection
therewith; provided that proceeds resulting from sales or issuances of options or the
exercise of such options up to $10,000,000 in the aggregate in any Fiscal Year shall not constitute
Net Equity Proceeds.

“Net Income” means, for any period, the aggregate of all amounts which would be
included as net income on the consolidated financial statements of the Company and its Subsidiaries
for such period.

“Niagara Falls Property” means the Company’s real property located at 4511 Hyde Park
Blvd., Niagara Falls, NY.

“Non-Excluded Taxes” means any Taxes other than net income and franchise Taxes imposed
with respect to any Secured Party by any Governmental Authority under the laws of which such
Secured Party is organized or in which it maintains its applicable lending office.

“Non-U.S. Lender” means any Lender that is not a “United States person”, as defined
under Section 7701(a)(30) of the Code.

“Note” means, as the context may require, a Revolving Note, a Term Note or a Swing
Line Note.

“Obligations” means all obligations (monetary or otherwise, whether absolute or
contingent, matured or unmatured) of the Borrowers and each other Obligor arising under or in
connection with a Loan Document, including Reimbursement Obligations and the principal of and
premium, if any, and interest (including interest accruing during the pendency of any proceeding of
the type described in Section 8.1.9, whether or not allowed in such proceeding) on the
Loans; provided that for purposes of this definition, when the term “Obligations” is used
in any agreement pursuant to which the Collateral Agent is granted a Lien to secure the
Obligations, the Subsidiary Guaranty (Domestic) and Section 4.11, “Loan Document” shall
include each Rate Protection Agreement.

“Obligor” means, as the context may require, the Borrowers and each other Person
(other than a Secured Party) obligated under any Loan Document.

“Organic Document” means, relative to any Obligor, as applicable, its articles or
certificate of incorporation, regulations, by-laws, certificate of partnership, partnership
agreement, certificate of formation, limited liability agreement, operating agreement and all
shareholder agreements, voting trusts and similar arrangements applicable to any of such Obligor’s
Capital Securities.

“Original Currency” is defined in Section 10.16.

“Other Taxes” means any and all stamp, documentary or similar Taxes, or any other
excise or property Taxes or similar levies that arise on account of any payment made or required to
be made under any Loan Document or from the execution, delivery, registration, recording or
enforcement of any Loan Document.

“Participant” is defined in clause (d) of Section 10.11.

“Participating Member State” means each country so described in any EMU Legislation.

“Patent Security Agreement” means any Patent Security Agreement executed and delivered
by any Obligor in substantially the form of Exhibit A to the Security Agreement, as amended,
supplemented, amended and restated or otherwise modified from time to time.

“Patriot Act” means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law
October 26, 2001)), as amended and supplemented from time to time.

“Patriot Act Disclosures” means all documentation and other information which a
Lender, if subject to the Patriot Act, is required to provide pursuant to the applicable section of
the Patriot Act and which required documentation and information the Administrative Agents
reasonably request in order to comply with their ongoing obligations under applicable “know your
customer” and anti-money laundering rules and regulations, including the Patriot Act.

“PBGC” means the Pension Benefit Guaranty Corporation and any Person succeeding to any
or all of its functions under ERISA.

“Pension Plan” means a “pension plan”, as such term is defined in Section 3(2) of
ERISA, which is subject to Title IV of ERISA (other than a multiemployer plan as defined in Section
4001(a)(3) of ERISA), and to which the Company or any corporation, trade or business that is, along
with the Company, a member of a Controlled Group, may have liability, including any liability by
reason of having been a substantial employer within the meaning of Section 4063 of ERISA at any
time during the preceding five years, or by reason of being deemed to be a contributing sponsor
under Section 4069 of ERISA.

“Percentage” means, as the context may require, any Lender’s Revolving Loan Percentage
or Term Loan Percentage.

“Permitted Acquisition” means an acquisition (whether pursuant to an acquisition of
Capital Securities, assets or otherwise) by the Company or any of its Subsidiaries from any Person
of a business in which the following conditions are satisfied:

(a) the SEC Filing Date has occurred;

(b) immediately before and after giving effect to such acquisition no Default shall
have occurred and be continuing or would result therefrom (including under
Section 7.1.8 and Section 7.2.1);

(c) the Company shall have delivered a certificate certifying that before and after
giving effect to such acquisition, the representations and warranties set forth in each Loan
Document shall, in each case, be true and correct in all material respects with the same
effect as if then made (unless stated to relate solely to an earlier date, in which case
such representations and warranties shall be true and correct in all material respects as of
such earlier date) and no Default has occurred and is continuing; and

(d) the Company shall have delivered to the Administrative Agents a Compliance
Certificate for the period of four full Fiscal Quarters immediately preceding such
acquisition (prepared in good faith and in a manner and using such methodology which is
consistent with the most recent financial statements delivered pursuant to Section
7.1.1) giving pro forma effect to the consummation of such acquisition
and evidencing compliance with the covenants set forth in Section 7.2.4, such
pro forma adjustments being reasonably satisfactory to the Administrative
Agents.

“Permitted Receivables Program” means any Disposition by the Company or any of its
Subsidiaries consisting of trade receivables and related collateral, credit support and similar
rights, pursuant to one or more receivables programs, to a Person who is not a Subsidiary of the
Company or is an SPV; provided that:

(a) the consideration to be received by the Company and its Subsidiaries for any such
Disposition consists of cash, contributions to capital, a deferred purchase price evidenced
by a deferred purchase price note or, with respect to Dispositions to an SPV, a credit
against any interest and/or principal amounts outstanding owed by the Company or any such
Subsidiary to such SPV;

(b) no Default shall have occurred and be continuing or would result therefrom; and

(c) the aggregate outstanding balance of the Indebtedness in respect of all such
programs at any point in time is not in excess of $200,000,000.

“Person” means any natural person, corporation, limited liability company,
partnership, joint venture, association, trust or unincorporated organization, Governmental
Authority or any other legal entity, whether acting in an individual, fiduciary or other capacity.

“Platform” is defined in clause (b) of Section 9.10.

“Pledge and Security Agreement” means the Pledge and Security Agreement executed and
delivered by the Company and each U.S. Subsidiary, substantially in the form of Exhibit G
hereto, together with any supplemental Foreign Pledge Agreements delivered pursuant to the terms of
this Agreement, in each case as amended, supplemented, amended and restated or otherwise modified
from time to time.

“Primary Syndication” means the period commencing on or prior to the Closing Date and
ending on the earlier of (a) the date that is 90 days following the Closing Date and (b) the date
that the Administrative Agents have declared the primary syndication of the Commitments and Credit
Extensions to have ended.

“Prior GAAP Financials” is defined in Section 1.4.

“Proceeds Reduction Percentage” means, at any time of determination, (a) with respect
to a mandatory prepayment in respect of Net Equity Proceeds pursuant to clause (d) of
Section 3.1.1, (i) 80%, if the Leverage Ratio set forth in the Compliance Certificate most
recently delivered by the Company to the Administrative Agents was greater than or equal to 3.50:1
and (ii) 50%, if the Leverage Ratio set forth in such Compliance Certificate was less than 3.50:1,
and (b) with respect to a mandatory prepayment in respect of Excess Cash Flow pursuant to
clause (g) of Section 3.1.1, (i) 50%, if the Leverage Ratio set forth in the
Compliance Certificate most recently delivered by the Company to the Administrative Agents was
greater than or equal to 3.50:1 and (ii) 0%, if the Leverage Ratio set forth in such Compliance
Certificate was less than 3.50:1.

“Pro-forma EBITDA” is defined in Section 5.1.7.

“Quarterly Payment Date” means the first day of January, April, July and October, or,
if any such day is not a Business Day, the next succeeding Business Day.

“Quoted Rate” is defined in clause (b) of Section 2.3.2.

“Rate Protection Agreement” means, collectively, any agreement with respect to Hedging
Obligations entered into by the Company or any Subsidiary under which the counterparty of such
agreement is (or at the time such agreement was entered into, was) a Lender or an Affiliate of a
Lender.

“Rating Agency” means, as applicable, S&P or Moody’s.

“Redeemable Stock” means with respect to any Person any Capital Securities of such
Person that (a) is by its terms subject to mandatory redemption, in whole or in part, pursuant to a
sinking fund, scheduled redemption or similar provisions, at any time prior to the Stated Maturity
Date for Term Loans; or (b) otherwise is required to be repurchased or retired on a scheduled date
or dates, upon the occurrence of any event or circumstance, at the option of the holder or holders
thereof, or otherwise, at any time prior to the Stated Maturity Date for Term Loans, other than any
such repurchase or retirement occasioned by a “change of control” or similar event;
provided that Redeemable Stock shall not include the Series A ESOP Convertible Preferred
Stock of the Company.

“Refinancing” is defined in the first recital.

“Refunded Swing Line Loans” is defined in clause (c) of Section 2.3.2.

“Register” and “Registers” are defined in clause (a) of
Section 2.8.

“Reimbursement Obligation” is defined in Section 2.7.3.

“Release” means a “release”, as such term is defined in CERCLA.

“Replacement Lender” is defined in Section 4.10.

“Replacement Notice” is defined in Section 4.10.

“Required Lenders” means, at any time, Lenders holding more than 50% of the Total
Exposure Amount.

“Required Revolving Lenders” means, at any time, Revolving Loan Lenders holding more
than 50% of the Total Revolving Loan Exposure Amount.

“Resource Conservation and Recovery Act” means the Resource Conservation and Recovery
Act, 42 U.S.C. Section 6901, et seq., as amended.

“Restricted Payment” means (a) the declaration or payment of any dividend (other than
dividends payable solely in Capital Securities of the Company or any Subsidiary) on, or the making
of any payment or distribution on account of, or setting apart assets for a sinking or other
analogous fund for the purchase, redemption, defeasance, retirement or other acquisition of, any
class of Capital Securities of the Company or any Subsidiary or any warrants, options or other
right or obligation to purchase or acquire any such Capital Securities, whether now or hereafter
outstanding, or (b) the making of any other distribution in respect of such Capital Securities, in
each case either directly or indirectly, whether in cash, property or obligations of the Company
or any Subsidiary or otherwise.

“Revaluation Date” means, with respect to any Credit Extension denominated in an
Alternate Currency, each of the following: (a) in connection with the origination of any new
Credit Extension, the Business Day which is the earliest of the date such credit is extended or the
date the applicable rate is set; (b) in connection with any extension or conversion or continuation
of an existing Loan, the Business Day that is the earlier of the date such Loan is extended,
converted or continued, or the date the applicable rate is set; (c) each date a Letter of Credit is
issued or renewed pursuant to Section 2.1.2 or amended in such a way as to modify the
Letter of Credit Outstandings; (d) the date of any reduction of any of the Revolving Commitment
Amount, the Alternate Currency Commitment Amount or the Letter of Credit Commitment Amount pursuant
to the terms of Section 2.2; and (e) such additional dates as the Revolving Loan
Administrative Agent shall deem necessary. For purposes of determining availability hereunder, the
rate of exchange for any Alternate Currency shall be the Spot Rate.

“Revolving Exposure” means, relative to any Revolving Loan Lender, at any time, (a)
the Dollar Equivalent of the aggregate outstanding principal amount of all Revolving Loans of such
Lender at such time, plus (b) such Lender’s Revolving Loan Percentage of the Dollar
Equivalent of the Letter of Credit Outstandings, plus (c) such Lender’s Revolving Loan
Percentage of the aggregate principal amount outstanding of all Swing Line Loans at such time.

“Revolving Loan Administrative Agent” is defined in the preamble.

“Revolving Loan Commitment” means, relative to any Lender, such Lender’s obligation
(if any) to make Revolving Loans pursuant to clause (a) of Section 2.1.1.

“Revolving Loan Commitment Amount” means, on any date, $250,000,000, as such amount
may be (a) increased from time to time pursuant to clause (c) of Section 2.1.1 or (b)
reduced from time to time pursuant to Section 2.2 .

“Revolving Loan Commitment Termination Date” means the earliest of

(a) June 29, 2006 (if the initial Credit Extension has not occurred on or prior to such
date);

(b) the fifth anniversary of the Closing Date;

(c) the date on which the Revolving Loan Commitment Amount is terminated in full or
reduced to zero pursuant to the terms of this Agreement; and

(d) the date on which any Commitment Termination Event occurs.

Upon the occurrence of any event described above, the Revolving Loan Commitments shall terminate
automatically and without any further action.

“Revolving Loan Lender” is defined in clause (a) of Section 2.1.1.

“Revolving Loan Percentage” means, relative to any Lender, the applicable percentage
relating to Revolving Loans set forth opposite its name on Schedule II hereto under the
Revolving Loan Commitment column or set forth in a Lender Assignment Agreement under the Revolving
Loan Commitment column, as such percentage may be adjusted from time to time pursuant to Lender
Assignment Agreements executed by such Lender and its Assignee Lender and delivered pursuant to
Section 10.11. A Lender shall not have any Revolving Loan Commitment if its percentage
under the Revolving Loan Commitment column is zero.

“Revolving Loans” is defined in Section 2.1.1.

“Revolving Note” means a promissory note of the Borrowers payable to any Revolving
Loan Lender, substantially in the form of Exhibit A-1 hereto (as such promissory note may
be amended, endorsed or otherwise modified from time to time), evidencing the aggregate
Indebtedness of the Borrowers to such Revolving Loan Lender resulting from outstanding Revolving
Loans, and also means all other promissory notes accepted from time to time in substitution
therefor or renewal thereof.

“S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill
Companies, Inc. and its successors.

“SEC” means the Securities and Exchange Commission.

“SEC Filing Date” means the last date on which the Company files any of its Form 10-Ks
and Form 10-Qs for the 2004 and 2005 Fiscal Years and its Form 10-Qs for the 2006 Fiscal Year.

“Secured Parties” means, collectively, the Lenders, the Issuers, the Agents, each
counterparty to a Rate Protection Agreement that is (or at the time such Rate Protection Agreement
was entered into, was) a Lender or an Affiliate thereof, each Person to whom an Obligor owes a
Secured Obligation (as defined in any Loan Document) and (in each case), each of their respective
successors, transferees and assigns.

“Securities Account” means a “securities account” as that term is defined in Section
9-102(a) of the UCC.

“Solvent” means, with respect to any Person and its Subsidiaries on a particular date,
that on such date (a) the fair value of the property of such Person and its Subsidiaries on a
consolidated basis is greater than the total amount of liabilities, including contingent
liabilities, of such Person and its Subsidiaries on a consolidated basis, (b) the present fair
salable value of the assets of such Person and its Subsidiaries on a consolidated basis is not less
than the amount that will be required to pay the probable liability of such Person and its
Subsidiaries on a consolidated basis on its debts as they become absolute and matured, (c) such
Person does not intend to, and does not believe that it or its Subsidiaries will, incur debts or
liabilities beyond the ability of such Person and its Subsidiaries to pay as such debts and
liabilities mature, and (d) such Person and its Subsidiaries on a consolidated basis is not engaged
in business or a transaction, and such Person and its Subsidiaries on a consolidated basis is not
about to engage in a business or a transaction, for which the property of such Person and its
Subsidiaries on a consolidated basis would constitute an unreasonably small capital. The amount of
Contingent Liabilities at any time shall be computed as the amount that, in light of all the facts
and circumstances existing at such time, can reasonably be expected to become an actual or matured
liability.

“SPC” is defined in clause (g) of Section 10.11.

“Specified Disposition” means any Disposition of assets (a) which was previously
disclosed to the Administrative Agents, (b) a contract for which is entered into within six months
after the Closing Date, and (c) the proceeds of which, together with all specified Dispositions,
does not exceed $150,000,000.

“Spot Rate” means the rate determined by the Revolving Loan Administrative Agent to be
the rate quoted by the Person acting in such capacity as the spot rate for the purchase by such
Person of such currency with another currency through its principal foreign exchange trading office
at approximately 11:00 a.m. (in the applicable time zone) on the date two Business Days prior to
the date as of which the foreign exchange computation is made; provided that the Revolving
Loan Administrative Agent may obtain such spot rate from another financial institution designated
by such Administrative Agent if the Person acting in such capacity does not have as of the date of
determination a spot buying rate for any such currency.

“SPV” means Ferro Finance Corporation, an Ohio corporation, and any other Person that
is a Subsidiary of the Company that is a special purpose entity, variable interest entity or other
bankruptcy remote entity created for the purpose of facilitating a Permitted Receivables Program.

“Stated Amount” means, on any date and with respect to a particular Letter of Credit,
the total amount then available to be drawn under such Letter of Credit.

“Stated Expiry Date” is defined in Section 2.7.

“Stated Maturity Date” means (a) with respect to all Term Loans, the sixth anniversary
of the Closing Date and (b) with respect to all Revolving Loans, Alternate Currency Loans and Swing
Line Loans, the fifth anniversary of the Closing Date.

“Subsidiary” means, with respect to any Person, any other Person of which more than
50% of the outstanding Voting Securities of such other Person (irrespective of whether at the time
Capital Securities of any other class or classes of such other Person shall or might have voting
power upon the occurrence of any contingency) is at the time directly or indirectly owned or
controlled by such Person, by such Person and one or more other Subsidiaries of such Person, or by
one or more other Subsidiaries of such Person. Unless the context otherwise specifically requires,
the term “Subsidiary” shall be a reference to a Subsidiary of the Company.

“Subsidiary Guarantor” means each Subsidiary that has executed and delivered to the
Administrative Agents a Subsidiary Guaranty (including by means of a delivery of a supplement
thereto).

“Subsidiary Guaranty” means, as applicable, the Subsidiary Guaranty (Domestic) or a
Subsidiary Guaranty (Foreign).

“Subsidiary Guaranty (Domestic)” means the subsidiary guaranty executed and delivered
by an Authorized Officer of each Subsidiary required to execute it or become a party to it pursuant
to the terms of this Agreement, substantially in the form of Exhibit F hereto, as amended,
supplemented, amended and restated or otherwise modified from time to time.

“Subsidiary Guaranty (Foreign)” means each subsidiary guaranty executed and delivered
by an Authorized Officer of each Subsidiary of a Designated Borrower guaranteeing the Obligations
of such Designated Borrower, in form and substance reasonably satisfactory to the Administrative
Agents, as amended, supplemented, amended and restated or otherwise modified from time to time.

“Swing Line Lender” means, subject to the terms of this Agreement, National City.

“Swing Line Loan” is defined in clause (b) of Section 2.1.1.

“Swing Line Loan Commitment” is defined in clause (b) of
Section 2.1.1.

“Swing Line Loan Commitment Amount” means, on any date, $20,000,000, as such amount
may be reduced from time to time pursuant to Section 2.2.

“Swing Line Note” means a promissory note of the Borrowers payable to the Swing Line
Lender, in the form of Exhibit A-3 hereto (as such promissory note may be amended, endorsed
or otherwise modified from time to time), evidencing the aggregate Indebtedness of the Borrowers to
the Swing Line Lender resulting from outstanding Swing Line Loans, and also means all other
promissory notes accepted from time to time in substitution therefor or renewal thereof.

“Synthetic Lease” means, as applied to any Person, any lease (including leases that
may be terminated by the lessee at any time) of any property (whether real, personal or mixed)
(a) that is not a capital lease in accordance with GAAP and (b) in respect of which the lessee
retains or obtains ownership of the property so leased for federal income tax purposes, other than
any such lease under which that Person is the lessor.

“Taxes” means all income, stamp or other taxes, duties, levies, imposts, charges,
assessments, fees, deductions or withholdings, now or hereafter imposed, levied, collected,
withheld or assessed by any Governmental Authority, and all interest, penalties or similar
liabilities with respect thereto.

“Term Loan Administrative Agent” is defined in the preamble.

“Term Loan Commitment” means, relative to any Lender, such Lender’s obligation (if
any) to make Term Loans pursuant to clause (a) of Section 2.1.3.

“Term Loan Commitment Amount” means, on any date, $450,000,000.

“Term Loan Commitment Termination Date” means the earliest of:

(a) 364 days following the Closing Date; and

(b) the date on which any Commitment Termination Event occurs.

Upon the occurrence of any event described above, the Term Loan Commitments shall terminate
automatically and without any further action.

“Term Loan Lender” is defined in Section 2.1.3.

“Term Loan Percentage” means, relative to any Lender, the applicable percentage
relating to Term Loans set forth opposite its name on Schedule II hereto under the Term
Loan Commitment column or set forth in a Lender Assignment Agreement under the Term Loan Commitment
column, as such percentage may be adjusted from time to time pursuant to Lender Assignment
Agreements executed by such Lender and its Assignee Lender and delivered pursuant to
Section 10.11. A Lender shall not have any Term Loan Commitment if its percentage under
the Term Loan Commitment column is zero.

“Term Loan Repayment Trigger Date” means the earliest of (a) the date on which the
Borrower reduces the Term Loan Commitment Amount to zero pursuant to Section 2.2, (b) the
date on which the Term Loans are fully drawn hereunder and (c) the Term Loan Commitment Termination
Date.

“Term Loans” is defined in clause (a) of Section 2.1.3.

“Term Note” means a promissory note of the Borrowers payable to any Term Loan Lender,
substantially in the form of Exhibit A-2 hereto (as such promissory note may be amended,
endorsed or otherwise modified from time to time), evidencing the aggregate Indebtedness of the
Borrowers to such Term Loan Lender resulting from outstanding Term Loans, and also means all other
promissory notes accepted from time to time in substitution therefor or renewal thereof.

“Termination Date” means the date on which all Obligations have been paid in full in
cash, all Letters of Credit have been terminated or expired (or been Cash Collateralized), all Rate
Protection Agreements have been terminated and all Commitments shall have terminated.

“Total Debt” means, on any date, the outstanding principal amount of all Indebtedness
of the Company and its Subsidiaries of the type referred to in clause (a) (which, in the
case of the Loans, shall be deemed to equal the Dollar Equivalent (determined as of the most recent
Revaluation Date) for any Loans denominated in an Alternate Currency, clause (b) (which, in
the case of Letter of Credit Outstandings, shall be deemed to equal the Dollar Equivalent
(determined as of the most recent Revaluation Date) for any Letter of Credit Outstandings
denominated in an Alternate currency, clause (c), clause (g), clause (i)
and clause (j), in each case of the definition of “Indebtedness” (exclusive of intercompany
Indebtedness between the Company and its Subsidiaries) and any Contingent Liability in respect of
any of the foregoing.

“Total Exposure Amount” means, on any date of determination (and without duplication),
the Dollar Equivalent (determined as of the most recent Revaluation Date) of the outstanding
principal amount of all Loans, the aggregate amount of all Letter of Credit Outstandings and the
unfunded amount of the Commitments.

“Total Revolving Loan Exposure Amount” means, on any date of determination (and
without duplication), the Dollar Equivalent (determined as of the most recent Revaluation Date) of
the outstanding principal amount of all Revolving Loans, the aggregate amount of all Letter of
Credit Outstandings and the unfunded amount of the Revolving Loan Commitments.

“Trademark Security Agreement” means any Trademark Security Agreement executed and
delivered by any Obligor substantially in the form of Exhibit B to the Pledge and Security
Agreement, as amended, supplemented, amended and restated or otherwise modified from time to time.

“Transaction” is defined in the first recital.

“Treaty on European Union” means the Treaty of Rome of March 25, 1957, as amended by
the Single European Act 1986 and the Maastricht Treaty (which was signed at Maastricht, the Kingdom
of Netherlands, on February 1, 1992 and came into force on November 1, 1993), as amended from time
to time.

“type” means, relative to any Loan, the portion thereof, if any, being maintained as a
Base Rate Loan, a LIBO Rate Loan or a Money Market Rate Loan.

“UCC” means the Uniform Commercial Code as in effect from time to time in the State
of New York; provided that if, with respect to any Filing Statement or by reason of any
provisions of law, the perfection or the effect of perfection or non-perfection of the security
interests granted to the Collateral Agent pursuant to the applicable Loan Document is governed by
the Uniform Commercial Code as in effect in a jurisdiction of the United States other than New
York, then “UCC” means the Uniform Commercial Code as in effect from time to time in such other
jurisdiction for purposes of the provisions of each Loan Document and any Filing Statement relating
to such perfection or effect of perfection or non-perfection.

“United States” or “U.S.” means the United States of America, its fifty states
and the District of Columbia.

“U.S. Subsidiary” means any Subsidiary that is incorporated or organized under the
laws of the United States, a state thereof or the District of Columbia.

“Voting Securities” means, with respect to any Person, Capital Securities of any class
or kind ordinarily having the power to vote for the election of directors, managers or other voting
members of the governing body of such Person.

“Welfare Plan” means a “welfare plan”, as such term is defined in Section 3(1) of
ERISA.

“wholly owned Subsidiary” means any Subsidiary all of the outstanding Capital
Securities of which (other than any director’s qualifying shares or investments by foreign
nationals mandated by applicable laws) is owned directly or indirectly by the Company.

“Yen” means Japanese yen, the lawful currency of Japan.

SECTION 1.2 Use of Defined Terms. Unless otherwise defined or the context otherwise
requires, terms for which meanings are provided in this Agreement shall have such meanings when
used in each other Loan Document and the Disclosure Schedule.

SECTION 1.3 Cross-References. Unless otherwise specified, references in a Loan
Document to any Article or Section are references to such Article or Section of such Loan Document,
and references in any Article, Section or definition to any clause are references to such clause of
such Article, Section or definition.

SECTION 1.4 Accounting and Financial Determinations. (a) Unless otherwise specified,
all accounting terms used in each Loan Document shall be interpreted, and all accounting
determinations and computations thereunder (including under Section 7.2.4 and the
definitions used in such calculations) shall be made, in accordance with GAAP. Unless otherwise
expressly provided, all financial covenants and defined financial terms shall be computed on a
consolidated basis for the Company and its Subsidiaries, in each case without duplication.

(b) As of any date of determination, for purposes of determining the Fixed Charge
Coverage Ratio or Leverage Ratio (and any financial calculations required to be made or
included within such ratios, or required for purposes of preparing any Compliance
Certificate to be delivered pursuant to the definition of “Permitted Acquisition”), the
calculation of such ratios and other financial calculations shall include or exclude, as the
case may be, the effect of any assets or businesses that have been acquired or Disposed of
by the Company or any of its Subsidiaries pursuant to the terms hereof (including through
mergers or consolidations) as of such date of determination, as determined by the Company on
a pro forma basis in accordance with GAAP, which determination may include one-time
adjustments or reductions in costs, if any, directly attributable to any such permitted
Disposition or Permitted Acquisition, as the case may be, in each case (i) calculated in
accordance with Regulation S-X of the Securities Act of 1933, as amended from time to time,
and any successor statute, for the period of four Fiscal Quarters ended on or immediately
prior to the date of determination of any such ratios (without giving effect to any
cost-savings or adjustments relating to synergies resulting from a Permitted Acquisition
except as the Administrative Agents shall otherwise agree) and (ii) giving effect to any
such Permitted Acquisition or permitted Disposition as if it had occurred on the first day
of such four Fiscal Quarter period.

(c) If the Company notifies the Administrative Agents that the Company wishes to amend
any covenant in Article VII or any related definition to eliminate the effect of any
change in GAAP occurring after the date of this Agreement on the operation of such covenant
(or if an Administrative Agent notifies the Company that the Required Lenders wish to amend
Article VII or any related definition for such purpose), then the Company’s
compliance with such covenant shall be determined on the basis of GAAP in effect immediately
before the relevant change in GAAP became effective, until either such notice is withdrawn
or such covenant is amended in a manner satisfactory to the Company and the Required
Lenders. In the event of any such notification from the Company or the Administrative
Agents and until such notice is withdrawn or such covenant is so amended, the Company will
furnish to each Lender and the Administrative Agents, in addition to the financial
statements required to be furnished pursuant to Section 7.1.1 (the “Current GAAP
Financials”), (i) the financial statements described in such Section based upon GAAP as
in effect at the time such covenant was agreed to (the “Prior GAAP Financials”) and
(ii) a reconciliation between the Prior GAAP Financials and the Current GAAP Financials.

SECTION 1.5 Exchange Rates; Currency Equivalents. The Revolving Loan Administrative
Agent shall determine the Spot Rates as of each Revaluation Date to be used for calculating the
Dollar Equivalent of Credit Extensions and amounts outstanding hereunder denominated in Alternate
Currencies. Such Spot Rates shall become effective as of such Revaluation Date and shall be the
Spot Rates employed in converting any amounts between the applicable currencies until the next
Revaluation Date to occur. Except for purposes of financial statements delivered by the Company
hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the
applicable amount of any Currency for purposes of the Loan Documents shall be such Dollar
Equivalent as so determined by the Revolving Loan Administrative Agent. Wherever in this Agreement
in connection with a Credit Extension, conversion, continuation or prepayment of a Loan, an amount,
such as a required minimum or multiple amount, is expressed in Dollars, but such Credit Extension
is denominated in an Alternate Currency, such amount shall be the relevant Alternate Currency
Equivalent of such Dollars, as determined by the Revolving Loan Administrative Agent.

SECTION 1.6 Redenomination of Certain Foreign Currencies and Computation of Dollar
Amounts. Each obligation of the Borrowers hereunder to make a payment denominated in the
national currency unit of any member state of the European Union that adopts the Euro as its lawful
currency after the date hereof shall be redenominated into Euro at the time of such adoption (in
accordance with the EMU Legislation). If, in relation to the currency of any such member state,
the basis of accrual of interest expressed in this Agreement in respect of that currency shall be
inconsistent with any convention or practice in the London interbank market for the basis of
accrual of interest in respect of the Euro, such expressed basis shall be replaced by such
convention or practice with effect from the date on which such member state adopts the Euro as its
lawful currency; provided that if any Credit Extension in the currency of such member state
is outstanding immediately prior to such date, such replacement shall take effect, with respect to
such Credit Extension, at the end of the then current Interest Period. Each provision of this
Agreement shall be subject to such reasonable changes of construction as the Administrative Agents
may from time to time specify to be appropriate to reflect the adoption of the Euro by any member
state of the European Union and any relevant market conventions or practices relating to the Euro.
References herein to minimum Dollar amounts and integral multiples stated in Dollars, where they
shall also be applicable to Alternate Currency, shall be deemed to refer to approximate Alternative
Currency Equivalents.

SECTION 1.7 American Legal Terms. References to any legal term or concept (including
without limitation those for any action, remedy, method of judicial proceeding, document, statute,
court official, governmental authority or agency) shall in respect of any jurisdiction other than
the United States be construed as references to the term or concept which most nearly corresponds
to it in that jurisdiction.

ARTICLE II

COMMITMENTS, BORROWING AND ISSUANCE

PROCEDURES, NOTES AND LETTERS OF CREDIT

SECTION 2.1 Commitments. On the terms and subject to the conditions of this
Agreement, the Lenders and the Issuers severally agree to make Credit Extensions as set forth
below.

SECTION 2.1.1 Revolving Loan Commitment and Swing Line Loan Commitment. From time to
time on any Business Day occurring from and after the Closing Date, but prior to the Revolving Loan
Commitment Termination Date:

(a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving
Loan Lender”) agrees that it will make loans (relative to such Lender, its
“Revolving Loans”) (i) to the Company, denominated in Dollars and (ii) to any
Designated Borrower, denominated in an Alternate Currency, in each case, equal to such
Lender’s Revolving Loan Percentage of the Dollar Equivalent (determined as of the most
recent Revaluation Date) of the aggregate amount of each Borrowing of the Revolving Loans
requested by the applicable Borrower to be made on such day; and

(b) the Swing Line Lender agrees that it will make loans (its “Swing Line
Loans”) denominated in Dollars to the Company equal to the principal amount of the Swing
Line Loan requested by the Company to be made on such day. The Commitment of the Swing Line
Lender described in this clause is herein referred to as its “Swing Line Loan
Commitment”.

On the terms and subject to the conditions hereof, the Borrowers may from time to time borrow,
prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be
permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the Dollar
Equivalent of such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage
of the then existing Revolving Loan Commitment Amount, (ii) the Dollar Equivalent of the aggregate
principal amount of Alternate Currency Loans, together with the Dollar Equivalent of Letters of
Credit Outstandings, would exceed the Alternate Currency Commitment Amount, or (iii) the Dollar
Equivalent of the aggregate amount of Revolving Loans and Swing Line Loans outstanding together
with the Dollar Equivalent of Letters of Credit Outstandings would exceed the Revolving Loan
Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make
Swing Line Loans if, after giving effect thereto, (x) the aggregate outstanding principal amount of
all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (y) unless
otherwise agreed to by the Swing Line Lender, in its sole discretion, the sum of all Swing Line
Loans and Revolving Loans made by the Swing Line Lender plus the Swing Line Lender’s
Revolving Loan Percentage of the aggregate amount of Letter of Credit Outstandings would exceed the
Swing Line Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment
Amount.

(c) Increases in Revolving Loan Commitment Amount. At any time that no Default
has occurred and is continuing, and prior to the Revolving Loan Commitment Termination Date,
the Company may notify the Revolving Loan Administrative Agent that the Company is
requesting that, on the terms and subject to the conditions contained in this Agreement, the
Lenders and/or other lenders not then a party to this Agreement provide up to an aggregate
amount of $50,000,000 in additional Revolving Loan Commitments. Upon receipt of such
notice, the Revolving Loan Administrative Agent shall use commercially reasonable efforts to
arrange for the Lenders or other Eligible Assignees to provide such additional Commitments.
Nothing contained in this Section or otherwise in this Agreement is intended to commit any
Lender or any Agent to provide any portion of any such additional Commitments. If and to
the extent that any Lenders and/or other lenders agree, in their sole discretion, to provide
any such additional Commitments, (i) the Revolving Loan Commitment Amount shall be increased
by the amount of the additional Revolving Loan Commitments agreed to be so provided, (ii)
the Percentages of the respective Lenders in respect of the increased Revolving Loan
Commitment Amount shall be proportionally adjusted (provided, however, that
the amount equal to the adjusted Percentage of a Lender in respect of Revolving Loans
multiplied by the Revolving Loan Commitment Amount as increased pursuant to clause
(i) may not exceed the amount equal to the Percentage of such Lender in respect of
Revolving Loans immediately prior to any adjustment made pursuant to this clause
(ii) multiplied by the Revolving Loan Commitment Amount immediately prior to the
corresponding increase thereof pursuant to clause (ii) without the consent of such
Lender) and such adjustment shall be recorded in the Register and (iii) at such time and in
such manner as the Company and the Revolving Loan Administrative Agent shall agree (it being
understood that the Company and the Revolving Loan Administrative Agent will use
commercially reasonable efforts to avoid the prepayment or assignment of any LIBO Rate Loan
on a day other than the last day of the Interest Period applicable thereto), the Lenders
shall assign and assume outstanding Revolving Loans so as to cause the amounts of such
Revolving Loans held by each Lender with a Percentage in excess of zero of the Revolving
Loan Commitment to conform to its adjusted Percentage of the Revolving Loan Commitment and
(iv) the Company shall execute and deliver any additional Notes, other amendments or
modifications to any Loan Document, and any other certificates, consents or legal opinions
as the Revolving Loan Administrative Agent may reasonably request.

SECTION 2.1.2 Letter of Credit Commitment. From time to time on any Business Day
occurring from the Closing Date but 3 days prior to the Revolving Loan Commitment Termination Date,
the relevant Issuer agrees that it will

(a) issue one or more standby letters of credit (relative to such Issuer, its
“Letter of Credit”) in Dollars or in an Alternate Currency for the account of any
Borrower or any Subsidiary Guarantor in the Stated Amount requested by the applicable
Borrower on such day; or

(b) extend the Stated Expiry Date of an existing standby Letter of Credit previously
issued hereunder.

No Issuer shall be permitted or required to issue any Letter of Credit if, after giving effect
thereto, (i) the Dollar Equivalent (determined as of the most recent Revaluation Date) of the
aggregate amount of all Letter of Credit Outstandings would exceed the then existing Letter of
Credit Commitment Amount or (ii) the sum of the aggregate amount of all Letter of Credit
Outstandings plus the aggregate principal amount of all Revolving Loans and Swing Line Loans then
outstanding would exceed the then existing Revolving Loan Commitment Amount.

SECTION 2.1.3 Term Loan Commitment. From time to time on any Business Day occurring
from and after the Closing Date, but prior to the Term Loan Commitment Termination Date, each
Lender that has a Term Loan Commitment (referred to as a “Term Loan Lender”) agrees that it
will make loans (relative to such Lender, its “Term Loans”) in Dollars to the Company equal
to such Lender’s Term Loan Percentage of the aggregate amount of the Borrowing of Term Loans
requested by the Company to be made on such day. No amounts paid or prepaid with respect to Term
Loans may be reborrowed.

SECTION 2.2 Reduction of the Commitment Amounts. The Company may, from time to time
on any Business Day occurring after the Closing Date, voluntarily reduce any Commitment Amount on
the Business Day so specified by the Company; provided that all such reductions shall
require at least three Business Day’s prior notice to the applicable Administrative Agent and be
permanent, and any partial reduction of any Commitment Amount shall be in a minimum amount of
$10,000,000 and in an integral multiple of $1,000,000. Any optional or mandatory reduction of the
Revolving Loan Commitment Amount pursuant to the terms of this Agreement which reduces the
Revolving Loan Commitment Amount below the sum of (i) the Swing Line Loan Commitment Amount, (ii)
the Alternate Currency Commitment Amount and (iii) the Letter of Credit Commitment Amount shall
result in an automatic and corresponding reduction of the Swing Line Loan Commitment Amount,
Alternate Currency Commitment Amount and/or Letter of Credit Commitment Amount (as directed by the
Borrowers in a notice to the Revolving Loan Administrative Agent delivered together with the notice
of such voluntary reduction in the Revolving Loan Commitment Amount) to an aggregate amount not in
excess of the Revolving Loan Commitment Amount, as so reduced, without any further action on the
part of the Swing Line Lender, any Revolving Loan Lender or any Issuer.

SECTION 2.3 Borrowing Procedures. Loans (other than Swing Line Loans) shall be made
by the Lenders in accordance with Section 2.3.1, and Swing Line Loans shall be made by the
Swing Line Lender in accordance with Section 2.3.2.

SECTION 2.3.1 Borrowing Procedure. In the case of Loans (other than Swing Line
Loans), by delivering a Borrowing Request to the Revolving Loan Administrative Agent or the Term
Loan Administrative Agent, as applicable, on or before 12:00 noon on a Business Day, the Borrowers
may from time to time irrevocably request, on the proposed date of the Borrowing in the case of
Base Rate Loans, or on three Business Days’ notice in the case of LIBO Rate Loans denominated in
Dollars, and in either case not more than five Business Days’ notice, or on no less than five
Business Days’, and no more than ten Business Days’ notice in the case of Alternate Currency Loans,
that a Borrowing be made, in the case of LIBO Rate Loans, in a minimum amount of $5,000,000 (or the
Dollar Equivalent thereof) and an integral multiple of $1,000,000 (or the Dollar Equivalent
thereof), in the case of Base Rate Loans, in a minimum amount of $1,000,000 and an integral
multiple of $100,000 or, in either case, in the unused amount of the applicable Commitment;
provided that all of the initial Loans shall be made as Base Rate Loans. Notwithstanding
the foregoing, any such request for Term Loans shall be in a minimum amount of $10,000,000 and in
integral multiples thereof of $10,000,000, or in the unused amount of the Term Loan Commitment. On
the terms and subject to the conditions of this Agreement, each Borrowing shall be comprised of the
type of Loans, and shall be made on the Business Day and in the Currency specified in such
Borrowing Request. In the case of other than Swing Line Loans, on or before 11:00 a.m. on such
Business Day each Lender that has a Commitment to make the Loans being requested shall deposit with
the applicable Administrative Agent same day funds in an amount equal to such Lender’s Percentage
of the requested Borrowing. Such deposit will be made to the applicable account which each
Administrative Agent shall specify from time to time by notice to the Lenders. To the extent funds
are received from the Lenders, each Administrative Agent shall make such funds available to the
applicable Borrower by wire transfer to the account such Borrower shall have specified in its
Borrowing Request. No Lender’s obligation to make any Loan shall be affected by any other Lender’s
failure to make any Loan.

SECTION 2.3.2 Swing Line Loans; Participations, etc.

(a) By telephonic notice to the Swing Line Lender on or before 12:00 noon on a Business
Day (promptly confirmed in writing if so requested by the Swing Line Lender), the Borrowers
may from time to time irrevocably request that Swing Line Loans be made by the Swing Line
Lender in an aggregate minimum principal amount of $500,000 and an integral multiple of
$100,000. All Swing Line Loans shall be made as (i) Base Rate Loans and shall not be
entitled to be converted into LIBO Rate Loans or (ii) pursuant to clause (b) below,
Money Market Rate Loans. The proceeds of each Swing Line Loan shall be made available by
the Swing Line Lender to the applicable Borrower by wire transfer to the account such
Borrower shall have specified in its notice therefor by the close of business on the
Business Day telephonic notice is received by the Swing Line Lender. Upon the making of
each Swing Line Loan, and without further action on the part of the Swing Line Lender or any
other Person, each Revolving Loan Lender (other than the Swing Line Lender) shall be deemed
to have irrevocably purchased, to the extent of its Revolving Loan Percentage, a
participation interest in such Swing Line Loan, and such Revolving Loan Lender shall, to the
extent of its Revolving Loan Percentage, be responsible for reimbursing within one Business
Day the Swing Line Lender for Swing Line Loans which have not been reimbursed by the Company
in accordance with the terms of this Agreement.

(b) Whenever the Borrowers propose to request that Swing Line Loans be made as Money
Market Rate Loans, prior to submitting such request, the Borrowers shall notify the
Revolving Loan Administrative Agent of its intention and request the Revolving Loan
Administrative Agent to quote a fixed or floating interest rate (the “Quoted Rate”)
to be applicable thereto prior to the proposed maturity thereof (which shall not exceed
thirty days). The Revolving Loan Administrative Agent will immediately so notify the Swing
Line Lender, and if the Swing Line Lender is agreeable to a particular interest rate for the
proposed maturity of such Money Market Rate Loan if such Loan is made on or prior to a
specified date, the Revolving Loan Administrative Agent shall quote such interest rate to
the Borrowers as the Quoted Rate applicable to such proposed Money Market Rate Loan if made
on or before such specified date for a maturity as so proposed by the Borrowers. The Swing
Line Lender contemplates that any Quoted Rate will be a rate of interest which reflects a
margin corresponding to (i) the sum of (x) the Applicable Margin for Revolving Loans being
maintained as LIBO Rate Loans plus (y) the Applicable Commitment Fee Margin for the
Revolving Loan Commitments, each as in effect at the time of quotation of any Quoted Rate,
over (ii) the then prevailing Federal Funds Rate, commercial paper, call money, overnight
repurchase or other commonly quoted interest rate, or the Swing Line Lender’s average fully
absorbed cost of short term funds, in each case as selected and determined by the Swing Line
Lender. Nothing herein shall be deemed to permit any Lender other than the Swing Line
Lender any right of approval with respect to a Quoted Rate.

(c) If (i) any Swing Line Loan shall be outstanding for more than thirty Business Days,
(ii) any Swing Line Loan is or will be outstanding on a date when any Borrower requests that
a Revolving Loan be made, or (iii) any Default shall occur and be continuing, then each
Revolving Loan Lender (other than the Swing Line Lender) irrevocably agrees that it will, at
the request of the Swing Line Lender, make a Revolving Loan (which shall initially be funded
as a Base Rate Loan) in an amount equal to such Lender’s Revolving Loan Percentage of the
aggregate principal amount of all such Swing Line Loans then outstanding (such outstanding
Swing Line Loans hereinafter referred to as the “Refunded Swing Line Loans”). On or
before 11:00 a.m. on the first Business Day following receipt by each Revolving Loan Lender
of a request to make Revolving Loans as provided in the preceding sentence, each Revolving
Loan Lender shall deposit in an account specified by the Swing Line Lender the amount so
requested in same day funds and such funds shall be applied by the Swing Line Lender to
repay the Refunded Swing Line Loans. At the time the Revolving Loan Lenders make the above
referenced Revolving Loans the Swing Line Lender shall be deemed to have made, in
consideration of the making of the Refunded Swing Line Loans, Revolving Loans in an amount
equal to the Swing Line Lender’s Revolving Loan Percentage of the aggregate principal amount
of the Refunded Swing Line Loans. Upon the making (or deemed making, in the case of the
Swing Line Lender) of any Revolving Loans pursuant to this clause, the amount so funded
shall become an outstanding Revolving Loan and shall no longer be owed as a Swing Line Loan.
All interest payable with respect to any Revolving Loans made (or deemed made, in the case
of the Swing Line Lender) pursuant to this clause shall be appropriately adjusted to reflect
the period of time during which the Swing Line Lender had outstanding Swing Line Loans in
respect of which such Revolving Loans were made. Each Revolving Loan Lender’s obligation to
make the Revolving Loans referred to in this clause shall be absolute and unconditional and
shall not be affected by any circumstance, including (i) any set-off, counterclaim,
recoupment, defense or other right which such Lender may have against the Swing Line Lender,
any Obligor or any Person for any reason whatsoever; (ii) the occurrence or continuance of
any Default; (iii) any adverse change in the condition (financial or otherwise) of any
Obligor; (iv) the acceleration or maturity of any Obligations or the termination of any
Commitment after the making of any Swing Line Loan; (v) any breach of any Loan Document by
any Person; or (vi) any other circumstance, happening or event whatsoever, whether or not
similar to any of the foregoing.

SECTION 2.4 Continuation and Conversion Elections. By delivering prior telephonic
notice to the to the applicable Administrative Agent on or before 10:00 a.m. on a Business Day
(such notice to be confirmed in writing within 24 hours thereafter by delivery of a
Continuation/Conversion Notice), any Borrower may from time to time irrevocably elect:

(a) on not less than three nor more than five Business Days’ notice, the conversion of
any Base Rate Loan into one or more LIBO Rate Loans denominated in Dollars or the
continuation of any LIBO Rate Loan denominated in Dollars as a LIBO Rate Loan so
denominated; and

(b) on not less than five nor more than ten Business Days’ notice, the continuation of
any LIBO Rate Loan denominated in an Alternate Currency as a LIBO Rate Loan denominated in
such Alternate Currency;

provided that any portion of any Loan which is continued or converted hereunder shall
be in a minimum amount of $1,000,000 and in an integral multiple amount of $1,000,000; and
provided further that in the absence of prior notice (which notice may be delivered
telephonically followed by written confirmation within 24 hours thereafter by delivery of a
Continuation/Conversion Notice) with respect to any LIBO Rate Loan denominated in Dollars at least
three Business Days (or, with respect to any LIBO Rate Loan denominated in an Alternate Currency,
at least five Business Days) before the last day of the then current Interest Period with respect
thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan;
provided that (i) each such conversion or continuation shall be pro rated among the
applicable outstanding Loans of all Lenders that have made such Loans, and (ii) no portion of the
outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate
Loans when any Default has occurred and is continuing.

SECTION 2.5 Alternate Currency Loans.

(a) If any Borrower requests a Borrowing in an Alternate Currency, or if pursuant to
any Continuation/Conversion Notice a Borrower elects to continue any LIBO Rate Loan
denominated in an Alternate Currency, the Revolving Loan Administrative Agent shall in the
notice given to the Revolving Loan Lenders pursuant to Section 2.3 or Section
2.4, as the case may be, give details of such request or election including, without
limitation, as the case may be, the aggregate principal amount of the Borrowing in such
Alternate Currency to be made by each Lender pursuant to the terms of this Agreement or the
aggregate principal amount of such LIBO Rate Loans to be continued by each Lender pursuant
to the terms of this Agreement.

(b) Each Lender shall be treated as having confirmed that the Alternate Currency
requested, or elected by the applicable Borrower to be continued, is Available to it unless
no later than 9:00 a.m. on the same Business Day of the requested Borrowing or the proposed
continuation it shall have notified the Revolving Loan Administrative Agent that such
Alternate Currency is not Available.

(c) In the event that the Revolving Loan Administrative Agent has received notification
from any of the Lenders that the Alternate Currency requested or elected by the applicable
Borrower to be continued is not Available, then the Revolving Loan Administrative Agent
shall notify such Borrower and the Lenders no later than 10:00 a.m. on the same Business Day
of the proposed Borrowing or proposed continuation.

(d) If the Revolving Loan Administrative Agent notifies a Borrower pursuant to
clause (c) above that any of the Lenders has notified the Revolving Loan
Administrative Agent that the Alternate Currency requested or elected by such Borrower to be
continued or converted is not Available, such notification shall (i) in the case of any
Borrowing Request, revoke such Borrowing Request and (ii) in the case of any
Continuation/Conversion Notice, such continuation/conversion with respect thereto shall be
deemed withdrawn and such Alternate Currency Loans shall be redenominated into Base Rate
Loans. The Revolving Loan Administrative Agent will promptly notify the Borrowers and the
Lenders of any such redenomination and in such notice by the Revolving Loan Administrative
Agent to each Lender the Revolving Loan Administrative Agent will state the aggregate Dollar
Equivalent amount of the redenominated Alternate Currency Loans as of the Revaluation Date
with respect thereto and such Lender’s Percentage thereof.

(e) Notwithstanding anything herein to the contrary, during the existence of an Event
of Default, upon the request of the Lenders holding in excess of 50% of the Revolving Loan
Commitments, all or any part of any outstanding Alternate Currency Loans shall be
redenominated and converted into Base Rate Loans on the last day of the Interest Period with
respect to any such Alternate Currency Loans. The Revolving Loan Administrative Agent will
promptly notify the applicable Borrowers and the Revolving Loan Lenders of any such
redenomination and conversion request.

SECTION 2.6 Funding. Each Lender may, if it so elects, fulfill its obligation to
make, continue or convert LIBO Rate Loans hereunder by causing one of its foreign branches or
Affiliates (or an international banking facility created by such Lender) to make or maintain such
LIBO Rate Loan; provided that such LIBO Rate Loan shall nonetheless be deemed to have been
made and to be held by such Lender, and the obligation of the Borrowers to repay such LIBO Rate
Loan shall nevertheless be to such Lender for the account of such foreign branch, Affiliate or
international banking facility. In addition, each Borrower hereby consents and agrees that, for
purposes of any determination to be made for purposes of Sections 4.1, 4.2,
4.3 or 4.4, it shall be conclusively assumed that each Lender elected to fund all
LIBO Rate Loans by purchasing deposits in the relevant Currency in its LIBOR Office’s interbank
eurodollar market. Each Lender may, at its option, make any Loan available to any Designated
Borrower by causing any foreign or domestic branch or Affiliate of such Lender to make such Loan;
provided that any exercise of such option shall not affect the obligation of such
Designated Borrower to repay such Alternate Currency Loan in accordance with the terms of this
Agreement.

SECTION 2.7 Issuance Procedures. By delivering to the Revolving Loan Administrative
Agent an Issuance Request on or before 12:00 noon on a Business Day, the Borrowers may from time to
time irrevocably request on not less than three nor more than ten Business Days’ notice, in the
case of an initial issuance of a Letter of Credit and not less than three Business Days’ prior
notice, in the case of a request for the extension of the Stated Expiry Date of a standby Letter of
Credit (in each case, unless a shorter notice period is agreed to by the relevant Issuer, in its
sole discretion), that an Issuer issue, or extend the Stated Expiry Date of, a Letter of Credit in
such form as may be requested by the Borrowers and approved by such Issuer, solely for the purposes
described in Section 7.1.7. Each Letter of Credit shall by its terms be stated to expire
on a date (its “Stated Expiry Date”) no later than the earlier to occur of (i) five
Business Days’ prior to the Revolving Loan Commitment Termination Date and (ii) (unless otherwise
agreed to by an Issuer, in its sole discretion), one year from the date of its issuance;
provided that any Letter of Credit may provide for renewal periods of up to one year so
long as such renewal periods do not exceed the date set forth in clause (i). Each Issuer
will make available to the beneficiary thereof the original of the Letter of Credit which it
issues. Notwithstanding the foregoing, all Letters of Credit issued hereunder shall be subject to
the customary procedures of the applicable Issuer.

SECTION 2.7.1 Other Lenders Participation. Upon the issuance of each Letter of
Credit, and without further action, each Revolving Loan Lender (other than the Issuer) shall be
deemed to have irrevocably purchased, to the extent of its Revolving Loan Percentage, a
participation interest in such Letter of Credit (including the Contingent Liability and any
Reimbursement Obligation with respect thereto), and such Revolving Loan Lender shall, to the extent
of its Revolving Loan Percentage, be responsible for reimbursing within one Business Day the Issuer
for Reimbursement Obligations which have not been reimbursed by the Borrowers in accordance with
Section 2.7.3 of receiving notice from the Issuer for Reimbursement Obligations which have
not been reimbursed by the Borrowers in accordance with Section 2.7.3 (with the terms of
this Section surviving the termination of this Agreement). In addition, such Revolving Loan Lender
shall, to the extent of its Revolving Loan Percentage, be entitled to receive a ratable portion of
the Letter of Credit fees payable pursuant to Section 3.3.3 with respect to each Letter of
Credit (other than the issuance fees payable to the Issuer of such Letter of Credit pursuant to the
last sentence of Section 3.3.3) and of interest payable pursuant to Section 3.2
with respect to any Reimbursement Obligation. To the extent that any Revolving Loan Lender has
reimbursed any Issuer for a Disbursement, such Lender shall be entitled to receive its ratable
portion of any amounts subsequently received (from the Borrowers or otherwise) in respect of such
Disbursement.

SECTION 2.7.2 Disbursements. An Issuer will notify the applicable Borrower and the
Revolving Loan Administrative Agent promptly of the presentment for payment of any Letter of Credit
issued by such Issuer, together with notice of the date (the “Disbursement Date”) such
payment shall be made (each such payment, a “Disbursement”). Subject to the terms and
provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such
payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the
Disbursement Date, the applicable Borrower will reimburse the Revolving Loan Administrative Agent,
for the account of the applicable Issuer, for all amounts which such Issuer has disbursed under
such Letter of Credit, such payments to be made in Dollars (and in the amount which is the Dollar
Equivalent of any such payment or disbursement made or denominated in an Alternate Currency)
together with interest thereon at a rate per annum equal to the rate per annum then in effect for
Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount)
pursuant to Section 3.2 for the period from the Disbursement Date through the date of such
reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the
contrary contained herein or in any separate application for any Letter of Credit, each Borrower
hereby acknowledges and agrees that it shall be obligated to reimburse the applicable Issuer upon
each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of
each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is
a Borrower or a Subsidiary Guarantor).

SECTION 2.7.3 Reimbursement. The obligation (a “Reimbursement Obligation”) of
the Borrowers under Section 2.7.2 to reimburse an Issuer with respect to each Disbursement
(including interest thereon), and, upon the failure of the Borrowers to reimburse an Issuer, each
Revolving Loan Lender’s obligation under Section 2.7.1 to reimburse an Issuer, shall be
absolute and unconditional under any and all circumstances and irrespective of any setoff,
counterclaim or defense to payment which the Borrowers or such Revolving Loan Lender, as the case
may be, may have or have had against such Issuer or any Lender, including any defense based upon
the failure of any Disbursement to conform to the terms of the applicable Letter of Credit (if, in
such Issuer’s good faith opinion, such Disbursement is determined to be appropriate) or any
non-application or misapplication by the beneficiary of the proceeds of such Letter of Credit;
provided that after paying in full its Reimbursement Obligation hereunder, nothing herein
shall adversely affect the right of the Borrowers or such Lender, as the case may be, to commence
any proceeding against an Issuer for any wrongful Disbursement made by such Issuer under a Letter
of Credit as a result of acts or omissions constituting gross negligence or willful misconduct on
the part of such Issuer.

SECTION 2.7.4 Deemed Disbursements. Upon the occurrence and during the continuation
of any Default under Section 8.1.9 or upon notification by the Revolving Loan
Administrative Agent (acting at the direction of the Required Revolving Loan Lenders) to the
Borrowers of its obligations under this Section, following the occurrence and during the
continuation of any other Event of Default,

(a) the aggregate Stated Amount of all Letters of Credit shall, without demand upon or
notice to the Borrowers or any other Person, be deemed to have been paid or disbursed by the
Issuers of such Letters of Credit (notwithstanding that such amount may not in fact have
been paid or disbursed); and

(b) the Borrowers shall be immediately obligated to reimburse the Issuers for the
amount deemed to have been so paid or disbursed by such Issuers.

Amounts payable by the Borrowers pursuant to this Section shall be deposited in immediately
available funds with the Revolving Loan Administrative Agent and held as collateral security for
the Reimbursement Obligations. When all Defaults giving rise to the deemed disbursements under
this Section have been cured or waived the Revolving Loan Administrative Agent shall return to the
Borrowers all amounts then on deposit with the Revolving Loan Administrative Agent pursuant to this
Section which have not been applied to the satisfaction of the Reimbursement Obligations.

SECTION 2.7.5 Nature of Reimbursement Obligations. The Borrowers, each other Obligor
and, to the extent set forth in Section 2.7.1, each Revolving Loan Lender shall assume all
risks of the acts, omissions or misuse of any Letter of Credit by the beneficiary thereof. No
Issuer (except to the extent of its own gross negligence or willful misconduct) shall be
responsible for:

(a) the form, validity, sufficiency, accuracy, genuineness or legal effect of any
Letter of Credit or any document submitted by any party in connection with the application
for and issuance of a Letter of Credit, even if it should in fact prove to be in any or all
respects invalid, insufficient, inaccurate, fraudulent or forged;

(b) the form, validity, sufficiency, accuracy, genuineness or legal effect of any
instrument transferring or assigning or purporting to transfer or assign a Letter of Credit
or the rights or benefits thereunder or the proceeds thereof in whole or in part, which may
prove to be invalid or ineffective for any reason;

(c) failure of the beneficiary to comply fully with conditions required in order to
demand payment under a Letter of Credit;

(d) errors, omissions, interruptions or delays in transmission or delivery of any
messages, by mail, cable, telegraph, telex or otherwise; or

(e) any loss or delay in the transmission or otherwise of any document or draft
required in order to make a Disbursement under a Letter of Credit.

None of the foregoing shall affect, impair or prevent the vesting of any of the rights or powers
granted to any Issuer or any Revolving Loan Lender hereunder. In furtherance and not in limitation
or derogation of any of the foregoing, any action taken or omitted to be taken by an Issuer in good
faith (and not constituting gross negligence or willful misconduct) shall be binding upon each
Obligor and each such Secured Party, and shall not put such Issuer under any resulting liability to
any Obligor or any Secured Party, as the case may be.

SECTION 2.8 Registers; Notes. The Registers shall be maintained on the following
terms.

(a) The Borrowers hereby designate (i) the Revolving Loan Administrative Agent, in the
case of the Revolving Loan Commitments, Alternate Currency Commitments, Swing Line Loan
Commitments and Letter of Credit Commitments, and (ii) the Term Loan Administrative Agent,
in the case of Term Loan Commitments, to serve as the Borrowers’ agents, solely for the
purpose of this clause, to maintain a register (each, a “Register” and collectively,
the “Registers”) on which such Administrative Agent will record the applicable
Commitment of each Lender, the applicable Loans made by each Lender and each repayment in
respect of the principal amount of such Loans, annexed to which the relevant Administrative
Agent shall retain a copy of each Lender Assignment Agreement delivered to such
Administrative Agent pursuant to Section 10.11. Failure to make any recordation, or
any error in such recordation, shall not affect any Obligor’s Obligations. The entries in
the Registers shall be conclusive, in the absence of manifest error, and the Borrowers, the
Administrative Agents and the Lenders shall treat each Person in whose name a Loan is
registered (or, if applicable, to which a Note has been issued) as the owner thereof for the
purposes of all Loan Documents, notwithstanding notice or any provision herein to the
contrary. Any assignment or transfer of a Commitment or the Loans made pursuant hereto
shall be registered in the Registers only upon delivery to the relevant Administrative Agent
of a Lender Assignment Agreement that has been executed by the requisite parties pursuant to
Section 10.11. No assignment or transfer of a Lender’s Commitment or Loans shall be
effective unless such assignment or transfer shall have been recorded in the applicable
Register by the relevant Administrative Agent as provided in this Section.

(b) Each Borrower agrees that, upon the request to the Administrative Agents by any
Lender, such Borrower will execute and deliver to such Lender a Note evidencing the Loans
made by, and payable to the order of, such Lender in a maximum principal amount equal to
such Lender’s Percentage of the original applicable Commitment Amount. Each Borrower hereby
irrevocably authorizes each Lender to make (or cause to be made) appropriate notations on
the grid attached to such Lender’s Note (or on any continuation of such grid), which
notations, if made, shall evidence, inter alia, the date of, the outstanding
principal amount of, and the interest rate and Interest Period applicable to the Loans
evidenced thereby. Such notations shall, to the extent not inconsistent with notations made
by the applicable Administrative Agent in its respective Register, be conclusive and binding
on each Obligor absent manifest error; provided that the failure of any Lender to
make any such notations shall not limit or otherwise affect any Obligations of any Obligor.

SECTION 2.9 Designated Borrowers.

(a) The Company may at any time, upon not less than thirty Business Days’ notice from
the Company to the Revolving Loan Administrative Agent (or such shorter period as may be
agreed by the Revolving Loan Administrative Agent in its sole discretion), designate one or
more wholly-owned Subsidiaries organized under the laws of Japan or The Kingdom of the
Netherlands (each an “Applicant Borrower”), as a Designated Borrower to receive
Alternate Currency Loans hereunder by delivering to the Revolving Loan Administrative Agent
(which shall promptly deliver counterparts thereof to each applicable Lender and the other
Administrative Agent) a duly executed notice and agreement in substantially the form of
Exhibit H-1 (a “Designated Borrower Request and Assumption Agreement”). The
parties hereto acknowledge and agree that prior to any Applicant Borrower becoming entitled
to become a Designated Borrower the Revolving Loan Administrative Agent and the Lenders
shall have received such supporting resolutions, incumbency certificates, opinions of
counsel and other documents or information, in form, content and scope reasonably
satisfactory to the Revolving Loan Administrative Agent, as may be required by the Revolving
Loan Administrative Agent or the Required Lenders in their sole discretion, and Notes signed
by such new Borrowers to the extent any Lenders so require. If the Revolving Loan
Administrative Agent and the Required Lenders agree that an Applicant Borrower shall be
entitled to receive Alternate Currency Loans hereunder, then promptly following receipt of
all such documents or information, the Revolving Loan Administrative Agent shall send a
notice in substantially the form of Exhibit H-2 (a “Designated Borrower
Notice”) to the Company, the other Administrative Agent and the Lenders specifying the
effective date upon which the Applicant Borrower shall constitute a Designated Borrower for
purposes hereof, whereupon each of the Lenders agrees to permit such Designated Borrower to
receive Alternate Currency Loans hereunder, on the terms and conditions set forth herein,
and each of the parties agrees that such Designated Borrower otherwise shall be a Borrower
for all purposes of this Agreement.

(b) To the extent each Foreign Subsidiary and each Designated Borrower has not already
executed a Subsidiary Guaranty and granted and perfected Liens over its assets to secure all
of the Obligations, each Designated Borrower will cause each of its Subsidiaries to execute
a Subsidiary Guaranty (Foreign) guaranteeing the Obligations of such Designated Borrower and
each Designated Borrower will and will cause each of its Subsidiaries to execute any
documentation and take all other actions deemed reasonably necessary by the Collateral Agent
to secure the Obligations of such Designated Borrower and such Subsidiaries hereunder or
under such Subsidiary Guaranty (Foreign), as applicable and grant Liens on such Person’s
assets, in a manner and to the extent that a U.S. Subsidiary is required to secure its
Obligations under the Subsidiary Guaranty (Domestic) pursuant to the terms hereof and the
Subsidiary Guaranty (Domestic) and will otherwise comply with Section 7.1.8.

(c) Each Subsidiary of the Company that becomes a “Designated Borrower” pursuant to
this Section hereby irrevocably appoints the Company as its agent for all purposes relevant
to this Agreement and each of the other Loan Documents, including (i) the giving and receipt
of notices, (ii) the execution and delivery of all documents, instruments and certificates
contemplated herein and all modifications hereto, and (iii) the receipt of the proceeds of
any Alternate Currency Loans made by the Lenders, to any such Designated Borrower hereunder.
Any acknowledgment, consent, direction, certification or other action which might otherwise
be valid or effective only if given or taken by all Borrowers, or by each Borrower acting
singly, shall be valid and effective if given or taken only by the Company, whether or not
any such other Borrower joins therein. Any notice, demand, consent, acknowledgement,
direction, certification or other communication delivered to the Company in accordance with
the terms of this Agreement shall be deemed to have been delivered to each Designated
Borrower.

(d) The Company may from time to time, upon not less than thirty Business Days’ notice
from the Company to the Revolving Loan Administrative Agent (or such shorter period as may
be agreed by the Administrative Agents in their sole discretion), terminate a Designated
Borrower’s status as such; provided that there are no outstanding Alternate Currency
Loans payable by such Designated Borrower, or other amounts payable by such Designated
Borrower on account of any Alternate Currency Loans made to it, as of the effective date of
such termination. The Revolving Loan Administrative Agent will promptly notify the other
Administrative Agent and the Lenders of any such termination of a Designated Borrower’s
status.

ARTICLE III

REPAYMENTS, PREPAYMENTS, INTEREST AND FEES

SECTION 3.1 Repayments and Prepayments; Application. The Borrowers agree that the
Loans shall be repaid and prepaid pursuant to the following terms.

SECTION 3.1.1 Repayments and Prepayments. The Borrowers shall repay in full the
unpaid principal amount of each Loan upon the applicable Stated Maturity Date therefor. Prior
thereto, payments and prepayments of the Loans shall or may be made as set forth below.

(a) From time to time on any Business Day, the Borrowers may make a voluntary
prepayment, in whole or in part, of the outstanding principal amount of any:

(i) Loans (other than Swing Line Loans); provided that:

(A) any such prepayment shall be made pro rata among
Loans of the same type and denominated in the same Currency, if applicable,
having the same Interest Period of all Lenders that have made such Loans,
and in the case of Term Loans, applied to the remaining amortization
payments in such amounts as the Borrowers shall determine;

(B) no such prepayment of any LIBO Rate Loan may be made on any day
other than the last day of the Interest Period for such Loan unless payments
required, if any, pursuant to Section 4.4 are made;

(C) all such voluntary prepayments with respect to Term Loans shall be
received by the Term Loan Administrative Agent by 12:00 noon at least three
but no more than five Business Days’ prior to the date of such repayment;
and

(D) all such voluntary partial prepayments shall, in the case of Base
Rate Loans, be in an aggregate minimum amount of $1,000,000 and an integral
multiple of $100,000, and in the case of LIBO Rate Loans, be in an aggregate
minimum amount of $1,000,000 and an integral multiple of $1,000,000; and

(ii) Swing Line Loans; provided that (A) all such voluntary prepayments
shall require prior telephonic notice to the Swing Line Lender on or before
1:00 p.m. on the day of such prepayment (such notice to be confirmed in writing
within 24 hours thereafter); (B) all such voluntary partial prepayments shall be in
an aggregate minimum amount of $500,000 and an integral multiple of $100,000; and
(C) no such prepayment of any Money Market Rate Loan may be made on any day other
than the maturity date for such Loan unless payments required, if any, pursuant to
Section 4.4 are made.

(b) On each date when aggregate Revolving Exposure of all Revolving Loan Lenders
exceeds the Revolving Loan Commitment Amount (as it may be reduced from time to time
pursuant to this Agreement), the Borrowers shall make a mandatory prepayment of Revolving
Loans or Swing Line Loans (or both) and, if necessary, Cash Collateralize all Letter of
Credit Outstandings, in an aggregate amount equal to such excess.

(c) Commencing on the first Quarterly Payment Date occurring on and after the Term Loan
Repayment Trigger Date and continuing on each Quarterly Payment Date thereafter through and
including the fourth Quarterly Payment Date prior to the Stated Maturity Date, the Company
shall make a scheduled repayment of the aggregate outstanding principal amount, if any, of
all Term Loans in an amount equal to 0.25% of the original principal amount of the Term
Loans. The balance thereof shall be due in four equal installments, payable on the three
Quarterly Payment Dates preceding the Stated Maturity Date and on the Stated Maturity Date.

(d) Concurrently with the receipt by the Company of any Net Equity Proceeds,
the Company shall make, or cause to be made, a mandatory prepayment of the Loans in an
amount equal to the product of (i) such Net Equity Proceeds multiplied by (ii) the
applicable Proceeds Reduction Percentage, to be applied as set forth in
Section 3.1.2.

(e) Concurrently with the receipt by the Company or any Subsidiary of any Net Debt
Proceeds, the Company shall make, or cause to be made, a mandatory prepayment of the Loans
in an amount equal to 100% of such Net Debt Proceeds, to be applied as set forth in
Section 3.1.2;

(f) Within five Business Days receipt of any Net Disposition Proceeds or Net Casualty
Proceeds by the Company or any Subsidiary, the Company shall deliver to the Administrative
Agents a calculation of the amount of such proceeds and, to the extent the aggregate amount
of such proceeds received by the Company and its Subsidiaries in any period of twelve
consecutive calendar months since the Closing Date exceeds $2,500,000, the Company shall
make, or cause to be made, a mandatory prepayment of the Loans in an amount equal to 100% of
such Net Disposition Proceeds or Net Casualty Proceeds; provided that upon written
notice by the Company to the Administrative Agents not more than five Business Days
following receipt of any Net Disposition Proceeds or Net Casualty Proceeds (so long as no
Default has occurred and is continuing), such proceeds may be retained by the Company and
its Subsidiaries (and be excluded from the prepayment requirements of this clause) if
(i) the Company informs the Administrative Agents in such notice of its good faith intention
to apply (or cause one or more of the Subsidiary Guarantors to apply) such Net Disposition
Proceeds or Net Casualty Proceeds to the acquisition of other assets or properties in the
U.S. or to consummate the restructuring of other assets or properties of the Company and its
Subsidiaries located in Europe (in an amount not to exceed $30,000,000 with respect to such
assets in Europe), consistent with the businesses permitted to be conducted pursuant to
Section 7.2.1 (including by way of merger or Investment), and (ii) within 180 days
following the receipt of such Net Disposition Proceeds or Net Casualty Proceeds, such
proceeds are applied or committed to such acquisition. The amount of such Net Disposition
Proceeds or Net Casualty Proceeds unused or uncommitted after such 180 day period shall be
applied to prepay the Loans as set forth in Section 3.1.2. At any time after
receipt of any such Net Disposition Proceeds or Net Casualty Proceeds in excess of
$5,000,000 but prior to the application thereof to a mandatory prepayment or the acquisition
of other assets or properties as described above, upon the request by the Administrative
Agents to the Company, the Company shall deposit an amount equal to such Net Disposition
Proceeds into a cash collateral account maintained with (and subject to documentation
reasonably satisfactory to) the Collateral Agent for the benefit of the Secured Parties (and
over which the Collateral Agent shall have a first priority perfected Lien) pending
application as a prepayment or to be released as requested by the Company in respect of such
acquisition. Amounts deposited in such cash collateral account shall be invested in Cash
Equivalent Investments, as directed by the Company. Notwithstanding the foregoing, in the
event that the application of Net Disposition Proceeds or Net Casualty Proceeds by any
Foreign Subsidiary to repay the Loans as required by this clause would result in a
materially increased Tax liability for the Company (as reasonably determined by the
Administrative Agents in consultation with the Company), such Foreign Subsidiary shall not
be required to apply such Net Disposition Proceeds or such Net Casualty Proceeds to prepay
the Loans.

(g) Within 100 days after the close of each Fiscal Year (beginning with the close of
the 2006 Fiscal Year), the Company shall make, or cause to be made, a mandatory prepayment
of the Loans in an amount equal to the product of (i) Excess Cash Flow (if any) for such
Fiscal Year multiplied by (ii) the applicable Proceeds Reduction Percentage, to be applied
as set forth in Section 3.1.2; provided that the amount payable for the 2006
Fiscal Year will be calculated by dividing the amount otherwise payable by 365 and then
multiplying the result by the actual number of days elapsed from the Closing Date through
December 31, 2006.

(h) Immediately upon any acceleration of the Stated Maturity Date of any Loans pursuant
to Section 8.2 or Section 8.3, the Borrowers shall repay all the Loans,
unless, pursuant to Section 8.3, only a portion of all the Loans is so accelerated
(in which case the portion so accelerated shall be so repaid).

Each prepayment of any Loans made pursuant to this Section shall be without premium or penalty,
except as may be required by Section 4.4.

SECTION 3.1.2 Application. Amounts prepaid pursuant to Section 3.1.1 shall be
applied as set forth in this Section.

(a) Subject to clause (b), each prepayment or repayment of the principal of the
Loans shall be applied, to the extent of such prepayment or repayment, first, to the
principal amount thereof being maintained as Base Rate Loans, and second, subject to
the terms of Section 4.4, to the principal amount thereof being maintained as LIBO
Rate Loans.

(b) Each prepayment of the Loans made pursuant to clauses (d), (e),
(f) (subject to clause (c) below with respect to those resulting from Net
Disposition Proceeds of Dispositions made pursuant to clause (f) of Section
7.2.8) and (g) of Section 3.1.1 shall be applied (i) first,
pro rata to a mandatory prepayment of the outstanding principal amount of
all Term Loans (with the amount of such prepayment of the Term Loans being applied in
inverse order in accordance with the amount of each remaining Term Loan amortization
payment), and (ii) second, once all Term Loans have been repaid in full, to the
repayment of any outstanding Revolving Loans (without a corresponding reduction to the
Revolving Loan Commitment Amount).

(c) Each prepayment of the Loans made pursuant to clause (f) of
Section 3.1.1 resulting from Net Disposition Proceeds of Dispositions made pursuant
to clause (f) of Section 7.2.8 shall be made at the Company’s discretion to
repay either outstanding Revolving Loans or Term Loans. In the event that the Company
elects to repay Term Loans, the proceeds shall be applied (i) first, upon the offer
to, and acceptance by, the Term Loan Lenders, pro rata to a mandatory
prepayment of the outstanding principal amount of all Term Loans (with the amount of such
prepayment of the Term Loans being applied in inverse order in accordance with the amount of
each remaining Term Loan amortization payment) and (ii) second, subject to waiver of
such mandatory prepayment of the Term Loans by the Term Loan Lenders in accordance with
clause (d) below, to the repayment of any outstanding Revolving Loans (without a
corresponding reduction to the Revolving Loan Commitment Amount) or retained by the Company,
at its discretion. The Company shall give prior written notice to the Term Loan
Administrative Agent of any mandatory prepayment made in connection with this clause
(including the date and an estimate of the aggregate amount of such mandatory prepayment) at
least five Business Days prior thereto; provided that the failure to give such
notice shall not relieve the Company of its obligations to make such mandatory prepayments.

(d) So long as the Term Loan Administrative Agent has received prior written notice
from the Company of a mandatory prepayment that may be waived by the Term Loan Lenders
pursuant to the immediately preceding clause (c), the Term Loan Administrative Agent
shall provide notice of such mandatory prepayment to the Term Loan Lenders. Unless the Term
Loan Administrative Agent shall otherwise so provide, in the event a Term Loan Lender does
not notify the Term Loan Administrative Agent in writing of its waiver of the right to
receive:

(i) its pro rata share of such mandatory prepayment; and

(ii) its pro rata share (such pro rata share to
be based on the percentage obtained by dividing the principal amount of Term Loans
held immediately prior to such mandatory prepayment by such Term Loan Lender by the
aggregate principal amount of Term Loans held immediately prior to such mandatory
prepayments by the Term Loan Lenders that do not waive their right to receive a
portion of the mandatory prepayment described in this clause) of any portion (if
any) of such mandatory prepayment that may be waived by Term Loan Lenders

within two Business Days of the providing of such notice by the Term Loan Administrative Agent, the
Term Loan Administrative Agent may assume that such Term Loan Lender will receive its applicable
pro rata share of such mandatory prepayment and such portion (if any) of such
mandatory prepayment that has actually been waived by the Term Loan Lenders. It is understood and
agreed by the Company that, notwithstanding receipt by the Term Loan Administrative Agent of any
such mandatory prepayment, the Term Loans shall not be deemed repaid, unless otherwise consented to
by the Term Loan Administrative Agent, until five Business Days have elapsed from the delivery to
the Term Loan Administrative Agent of the notice described in clause (c) of
Section 3.1.2.

SECTION 3.2 Interest Provisions. Interest on the outstanding principal amount of the
Loans shall accrue and be payable in accordance with the terms set forth below.

SECTION 3.2.1 Rates. Subject to Section 2.3.2, pursuant to an appropriately
delivered Borrowing Request or Continuation/Conversion Notice, the Borrowers may elect that the
Loans comprising a Borrowing accrue interest at a rate per annum:

(a) on that portion maintained from time to time as a Base Rate Loan, equal to the sum
of the Alternate Base Rate from time to time in effect plus the Applicable Margin;
provided that Swing Line Loans made as Base Rate Loans shall always accrue interest
at the Alternate Base Rate plus the then effective Applicable Margin for Revolving
Loans maintained as Base Rate Loans;

(b) on that portion maintained from time to time as a Money Market Rate Loan, equal to
the applicable Quoted Rate then in effect for such Loan; and

(c) on that portion maintained as a LIBO Rate Loan, during each Interest Period
applicable thereto, equal to the sum of the LIBO Rate (Reserve Adjusted) or the LIBO
Alternate Rate, as the case may be, applicable to the Currency in which such Loans are
denominated for such Interest Period plus the Applicable Margin;

All LIBO Rate Loans shall bear interest from and including the first day of the applicable Interest
Period to (but not including) the last day of such Interest Period at the interest rate determined
as applicable to such LIBO Rate Loan.

SECTION 3.2.2 Post-Default Rates. After the date any Event of Default has occurred
and for so long as such Event of Default is continuing, each Borrower, as applicable, shall pay (in
the applicable Currency), but only to the extent permitted by law, interest (after as well as
before judgment) on all outstanding Obligations at a rate per annum equal to (a) in the case of
principal on any Loan, the rate of interest that otherwise would be applicable to such Loan
plus 2% per annum; and (b) in the case of overdue interest, fees, and other monetary
Obligations, the Alternate Base Rate from time to time in effect, plus the Applicable Margin for
Term Loans accruing interest at the Base Rate, plus a margin of 2% per annum.

SECTION 3.2.3 Payment Dates. Interest accrued on each Loan shall be payable, without
duplication:

(a) on the Stated Maturity Date therefor;

(b) on the date of any payment or prepayment, in whole or in part, of principal
outstanding on such Loan on the principal amount so paid or prepaid;

(c) with respect to Base Rate Loans, on each Quarterly Payment Date occurring after the
Closing Date;

(d) with respect to LIBO Rate Loans, on the last day of each applicable Interest Period
(and, if such Interest Period shall exceed three months, on the date occurring on each
three-month interval occurring after the first day of such Interest Period);

(e) with respect to any Base Rate Loans converted into LIBO Rate Loans on a day when
interest would not otherwise have been payable pursuant to clause (c), on the date
of such conversion; and

(f) with respect to any Money Market Rate Loan, at the end of each month; and

(g) on that portion of any Loans the Stated Maturity Date of which is accelerated
pursuant to Section 8.2 or Section 8.3, immediately upon such acceleration.

Interest accrued on Loans or other monetary Obligations after the date such amount is due and
payable (whether on the Stated Maturity Date, upon acceleration or otherwise) shall be payable upon
demand.

SECTION 3.3 Fees. The Company agrees to pay the fees set forth below. All such fees
shall be non-refundable.

SECTION 3.3.1 Commitment Fees.

(a) The Company agrees to pay to the Revolving Loan Administrative Agent for the
account of each Revolving Loan Lender, for the period (including any portion thereof when
any of its Commitments are suspended by reason of the Borrowers’ inability to satisfy any
condition of Article V) commencing on the Closing Date and continuing through the
Revolving Loan Commitment Termination Date, a commitment fee in an amount equal to the
Applicable Commitment Fee Margin, in each case on such Lender’s Revolving Loan Percentage of
the sum of the average daily unused portion of the Revolving Loan Commitment Amount (net of
Letter of Credit Outstandings). The making of Swing Line Loans shall not constitute usage
of the Revolving Loan Commitment with respect to the calculation of commitment fees to be
paid by the Borrowers to the Lenders.

(b) The Company agrees to pay to the Term Loan Administrative Agent for the account of
each Term Loan Lender, for the period (including any portion thereof when any of its
Commitments are suspended by reason of the Borrowers’ inability to satisfy any condition of
Article V) commencing on the Closing Date and continuing through the Term Loan
Commitment Termination Date, a commitment fee in an amount equal to the Applicable
Commitment Fee Margin, in each case on such Lender’s Term Loan Percentage of the sum of the
average daily unused portion of the Term Loan Commitment Amount.

All commitment fees payable pursuant to this Section shall be calculated on a year comprised of 360
days and payable by the Company in arrears on the Closing Date and thereafter on each Quarterly
Payment Date, commencing with the first Quarterly Payment Date following the Closing Date, and on
the applicable Commitment Termination Date.

SECTION 3.3.2 Administrative Agents’ Fee. The Borrowers agree to pay to each
Administrative Agent, for its own account, the fees in the amounts and on the dates set forth in
the Fee Letter.

SECTION 3.3.3 Letter of Credit Fees.

(a) The Borrowers agree to pay to the Revolving Loan Administrative Agent, for the
pro rata account of the applicable Issuer and each Revolving Loan Lender, a
Letter of Credit fee in a per annum amount equal to the then effective Applicable Margin for
Revolving Loans maintained as LIBO Rate Loans, multiplied by the Stated Amount of each such
Letter of Credit, such fees being payable quarterly in arrears on each Quarterly Payment
Date following the date of issuance of each Letter of Credit and on the Revolving Loan
Commitment Termination Date and such fee being paid in the currency in which the applicable
Letter of Credit was issued.

(b) The Borrowers agree to pay directly to each Issuer a fee in respect of each Letter
of Credit issued by it (a “Fronting Fee”), computed for each day at a rate per annum
equal to 0.125% of the Stated Amount of such Letter of Credit issued by such Issuer which is
outstanding on such day. Accrued Fronting Fees shall be due and payable on each Quarterly
Payment Date and on the Stated Maturity Date for Revolving Loans (to the extent such Letter
of Credit remains outstanding).

All Letter of Credit fees payable pursuant to this Section shall be calculated on a year comprised
of 360 days.

ARTICLE IV

CERTAIN LIBO RATE AND OTHER PROVISIONS

SECTION 4.1 LIBO Rate Lending Unlawful. If any Lender shall determine (which
determination shall, upon notice thereof to the Borrowers and the Administrative Agents, be
conclusive and binding on the Borrowers) that the introduction of or any change in or in the
interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is
unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate
Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall,
upon such determination, forthwith be suspended until such Lender shall notify the Administrative
Agents that the circumstances causing such suspension no longer exist, and (a) all outstanding LIBO
Rate Loans denominated in Dollars payable to such Lender shall automatically convert into Base Rate
Loans at the end of the then current Interest Periods with respect thereto or sooner, if required
by such law or assertion , and (b) all LIBO Rate Loans denominated in any Alternate Currency shall
automatically become due and payable at the end of the then current Interest Periods with respect
thereto or sooner, if required by applicable law.

SECTION 4.2 Deposits Unavailable. If either of the Administrative Agents shall have
determined that:

(a) Dollar deposits in the relevant amount and for the relevant Interest Period are not
available to it in its relevant market; or

(b) by reason of circumstances affecting it’s relevant market, adequate means do not
exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated
in any Currency;

then, upon notice from such Administrative Agent to the Borrowers and the Lenders, the obligations
of all Lenders under Section 2.3 and Section 2.4 to make or continue any Loans as,
or to convert any Loans into, LIBO Rate Loans denominated in such Currency shall forthwith be
suspended until such Administrative Agent shall notify the Borrowers and the Lenders that the
circumstances causing such suspension no longer exist.

SECTION 4.3 Increased LIBO Rate Loan Costs, etc. The Borrowers agree to reimburse
each Lender and Issuer for any increase in the cost to such Lender or Issuer of, or any reduction
in the amount of any sum receivable by such Secured Party in respect of, such Secured Party’s
Commitments and the making of Credit Extensions hereunder (including the making, continuing or
maintaining (or of its obligation to make or continue) any Loans as, or of converting (or of its
obligation to convert) any Loans into, LIBO Rate Loans) that arise in connection with any change
in, or the introduction, adoption, effectiveness, interpretation, reinterpretation or phase-in
after the Closing Date of, any law or regulation, directive, guideline, decision or request
(whether or not having the force of law) of any Governmental Authority, except for such changes
with respect to increased capital costs and Taxes which are governed by Sections 4.5 and
4.6, respectively. Each affected Secured Party shall promptly notify the applicable
Administrative Agent and the Borrowers in writing of the occurrence of any such event, stating the
reasons therefor and the additional amount required fully to compensate such Secured Party for such
increased cost or reduced amount. Such additional amounts shall be payable by the Borrowers
directly to such Secured Party within five Business Days of its receipt of such notice, and such
notice shall, in the absence of manifest error, be conclusive and binding on the Borrowers.

SECTION 4.4 Funding Losses. In the event any Lender shall incur any loss or expense
(including any loss or expense incurred by reason of the liquidation or reemployment of deposits or
other funds acquired by such Lender to make any Swing Line Loan as a Money Market Rate Loan or to
make or continue any portion of the principal amount of any Loan as, or to convert any portion of
the principal amount of any Loan into, a LIBO Rate Loan) as a result of

(a) any (i) conversion or repayment or prepayment of the principal amount of any LIBO
Rate Loan on a date other than the scheduled last day of the Interest Period applicable
thereto, or (ii) repayment or prepayment of any Money Market Rate Loan on a date other than
the applicable maturity date thereof, in each case whether pursuant to Article III
or otherwise;

(b) any Loans not being made as LIBO Rate Loans or Money Market Rate Loans in
accordance with the Borrowing Request therefor; or

(c) any Loans not being continued as, or converted into, LIBO Rate Loans in accordance
with the Continuation/Conversion Notice therefor;

then, upon the written notice of such Lender to the Borrowers, the Borrowers shall, within five
Business Days of its receipt thereof, pay directly to such Lender such amount as will (in the
reasonable determination of such Lender) reimburse such Lender for such loss or expense. Such
written notice shall, in the absence of manifest error, be conclusive and binding on the Borrowers.

SECTION 4.5 Increased Capital Costs. If any change in, or the introduction, adoption,
effectiveness, interpretation, reinterpretation or phase-in of, any law or regulation, directive,
guideline, decision or request (whether or not having the force of law) of any Governmental
Authority affects or would affect the amount of capital required or expected to be maintained by
any Secured Party or any Person controlling such Secured Party, and such Secured Party determines
(in good faith but in its sole and absolute discretion) that the rate of return on its or such
controlling Person’s capital as a consequence of the Commitments or the Credit Extensions made, or
the Letters of Credit participated in, by such Secured Party is reduced to a level below that which
such Secured Party or such controlling Person could have achieved but for the occurrence of any
such circumstance, then upon notice from time to time by such Secured Party to the Borrowers, the
Borrowers shall within five Business Days following receipt of such notice pay directly to such
Secured Party additional amounts sufficient to compensate such Secured Party or such controlling
Person for such reduction in rate of return. A statement of such Secured Party as to any such
additional amount or amounts shall, in the absence of manifest error, be conclusive and binding on
the Borrowers. In determining such amount, such Secured Party may use any method of averaging and
attribution that it (in its sole and absolute discretion) shall deem applicable.

SECTION 4.6 Taxes. The Company covenants and agrees as follows with respect to Taxes.

(a) Any and all payments by the Borrowers under each Loan Document shall be made
without setoff, counterclaim or other defense, and free and clear of, and without deduction
or withholding for or on account of, any Taxes. In the event that any Taxes are imposed and
required to be deducted or withheld from any payment required to be made by any Obligor to
or on behalf of any Secured Party under any Loan Document, then:

(i) subject to clause (f), if such Taxes are Non-Excluded Taxes, the
amount of such payment shall be increased as may be necessary so that such payment
is made, after withholding or deduction for or on account of such Taxes, in an
amount that is not less than the amount provided for in such Loan Document; and

(ii) the Borrowers shall withhold the full amount of such Taxes from such
payment (as increased pursuant to clause (a)(i)) and shall pay such amount
to the Governmental Authority imposing such Taxes in accordance with applicable law.

(b) In addition, the Borrowers shall pay all Other Taxes imposed to the relevant
Governmental Authority imposing such Other Taxes in accordance with applicable law.

(c) As promptly as practicable after the payment of any Taxes or Other Taxes, and in
any event within 45 days of any such payment being due, the Borrowers shall furnish to the
Administrative Agents a copy of an official receipt (or a certified copy thereof) evidencing
the payment of such Taxes or Other Taxes. The Administrative Agents shall make copies
thereof available to any Lender upon request therefor.

(d) Subject to clause (f), the Company, shall indemnify each Secured Party for
any Non-Excluded Taxes and Other Taxes levied, imposed or assessed on (and whether or not
paid directly by) such Secured Party whether or not such Non-Excluded Taxes or Other Taxes
are correctly or legally asserted by the relevant Governmental Authority. Promptly upon
having knowledge that any such Non-Excluded Taxes or Other Taxes have been levied, imposed
or assessed, and promptly upon notice thereof by any Secured Party, the Company shall pay
such Non-Excluded Taxes or Other Taxes directly to the relevant Governmental Authority
(provided that no Secured Party shall be under any obligation to provide any such
notice to the Company). In addition, the Company shall indemnify each Secured Party for
any incremental Taxes that may become payable by such Secured Party as a result of any
failure of the Borrowers to pay any Taxes when due to the appropriate Governmental Authority
or to deliver to the Administrative Agents, pursuant to clause (c), documentation
evidencing the payment of Taxes or Other Taxes. With respect to indemnification for
Non-Excluded Taxes and Other Taxes actually paid by any Secured Party or the indemnification
provided in the immediately preceding sentence, such indemnification shall be made within 30
days after the date such Secured Party makes written demand therefor. The Borrowers
acknowledge that any payment made to any Secured Party or to any Governmental Authority in
respect of the indemnification obligations of the Borrowers provided in this
clause (d) shall constitute a payment in respect of which the provisions of
clause (a) and this clause shall apply.

(e) Each Non-U.S. Lender, on or prior to the date on which such Non-U.S. Lender becomes
a Lender hereunder (and from time to time thereafter upon the request of the Borrowers or
the Administrative Agents, but only for so long as such non-U.S. Lender is legally entitled
to do so), shall deliver to the Company and the applicable Administrative Agent, either
(i) two duly completed copies of either (x) Internal Revenue Service Form W-8BEN claiming
eligibility of the Non-U.S. Lender for benefits of an income tax treaty to which the United
States is a party or (y) Internal Revenue Service Form W-8ECI, or in either case an
applicable successor form; or (ii) in the case of a Non-U.S. Lender that is not legally
entitled to deliver either form listed in clause (e)(i), (x) a certificate to the
effect that such Non-U.S. Lender is not (A) a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of any Borrower within the
meaning of Section 881(c)(3)(B) of the Code, or (C) a controlled foreign corporation
receiving interest from a related person within the meaning of Section 881(c)(3)(C) of the
Code (referred to as an “Exemption Certificate”) and (y) two duly completed copies
of Internal Revenue Service Form W-8BEN or applicable successor form.

(f) No Borrower shall be obligated to pay any additional amounts to any Lender pursuant
to clause (a)(i), or to indemnify any Lender pursuant to clause (d), in
respect of United States federal withholding taxes to the extent imposed as a result of
(i) the failure of such Lender to deliver to the Borrowers the form or forms and/or an
Exemption Certificate, as applicable to such Lender, pursuant to clause (e),
(ii) such form or forms and/or Exemption Certificate not establishing a complete exemption
from U.S. federal withholding tax or the information or certifications made therein by the
Lender being untrue or inaccurate on the date delivered in any material respect, or
(iii) the Lender designating a successor lending office at which it maintains its Loans
which has the effect of causing such Lender to become obligated for tax payments in excess
of those in effect immediately prior to such designation; provided that the
Borrowers shall be obligated to pay additional amounts to any such Lender pursuant to
clause (a)(i), and to indemnify any such Lender pursuant to clause (d), in
respect of United States federal withholding taxes if (i) any such failure to deliver a form
or forms or an Exemption Certificate or the failure of such form or forms or Exemption
Certificate to establish a complete exemption from U.S. federal withholding tax or
inaccuracy or untruth contained therein resulted from a change in any applicable statute,
treaty, regulation or other applicable law or any interpretation of any of the foregoing
occurring after the Closing Date, which change rendered such Lender no longer legally
entitled to deliver such form or forms or Exemption Certificate or otherwise ineligible for
a complete exemption from U.S. federal withholding tax, or rendered the information or
certifications made in such form or forms or Exemption Certificate untrue or inaccurate in a
material respect, (ii) the redesignation of the Lender’s lending office was made at the
request of the Borrowers or (iii) the obligation to pay any additional amounts to any such
Lender pursuant to clause (a)(i) or to indemnify any such Lender pursuant to
clause (d) is with respect to an Assignee Lender that becomes an Assignee Lender as
a result of an assignment made at the request of the Borrowers.

SECTION 4.7 Payments, Computations; Proceeds of Collateral, etc.

(a) Unless otherwise expressly provided in a Loan Document, all payments by the
Borrowers pursuant to each Loan Document shall be made by the Borrowers to the applicable
Administrative Agent for the pro rata account of the Secured Parties
entitled to receive such payment. All payments shall be made without setoff, deduction or
counterclaim not later than 12:00 noon on the date due in same day or immediately available
funds, in the applicable Currency, to such account as such Administrative Agent shall
specify from time to time by notice to the Borrowers. Funds received after that time shall,
in the sole discretion of the applicable Administrative Agent, be deemed to have been
received by such Administrative Agent on the next succeeding Business Day. Each
Administrative Agent shall promptly remit in same day funds to each Secured Party its share,
if any, of such payments received by such Administrative Agent for the account of such
Secured Party. All interest (including interest on LIBO Rate Loans) and fees shall be
computed on the basis of the actual number of days (including the first day but excluding
the last day) occurring during the period for which such interest or fee is payable over a
year comprised of 360 days (or, in the case of interest on a Base Rate Loan (calculated at
other than the Federal Funds Rate), 365 days or, if appropriate, 366 days); provided
that to the extent the current market practice is to compute interest and/or fees in respect
of any Alternate Currency or any Loan denominated in any Alternate Currency in a manner
other than as set forth above, all interest and fees hereunder shall be computed on the
basis of such market practice, as certified to the Borrowers by the applicable
Administrative Agent. Payments due on other than a Business Day shall (except as otherwise
required by clause (c) of the definition of “Interest Period”) be made on the next
succeeding Business Day and such extension of time shall be included in computing interest
and fees in connection with that payment.

(b) All amounts received as a result of the exercise of remedies under the Loan
Documents (including from the proceeds received by the Collateral Agent in respect of any
sale of, collection from or other realization upon, all or any part of the collateral
securing the Obligations, which proceeds shall be paid over to the Administrative Agents) or
under applicable law shall be applied upon receipt by either Administrative Agent to the
Obligations as follows:

(i) first, ratably to the payment of all Obligations owing to the
Agents, in their capacity as Agents (including the fees and expenses of counsel to
the Agents),

(ii) second, after payment in full in cash of the amounts specified in
clause (b)(i), to the ratable payment of all interest (including interest accruing
after the commencement of a proceeding in bankruptcy, insolvency or similar law,
whether or not permitted as a claim under such law) and fees owing under the Loan
Documents, and all costs and expenses owing to the Secured Parties pursuant to the
terms of the Loan Documents, until paid in full in cash,

(iii) third, after payment in full in cash of the amounts specified in
clauses (b)(i) and (b)(ii), to the ratable payment of the principal
amount of the Loans then outstanding, the aggregate Reimbursement Obligations then
owing, the Cash Collateralization for contingent liabilities under Letter of Credit
Outstandings and credit exposure owing to Secured Parties under Rate Protection
Agreements,

(iv) fourth, after payment in full in cash of the amounts specified in
clauses (b)(i) through (b)(iii), to the ratable payment of all other
Obligations owing to the Secured Parties, and

(v) fifth, after payment in full in cash of the amounts specified in
clauses (b)(i) through (b)(iv), and following the Termination Date,
to each applicable Obligor or any other Person lawfully entitled to receive such
surplus.

For purposes of clause (b)(iii), the “credit exposure” at any time of any Secured Party
with respect to a Rate Protection Agreement to which such Secured Party is a party shall be
determined at such time in accordance with the customary methods of calculating credit exposure
under similar arrangements by the counterparty to such arrangements, taking into account potential
interest rate (or, if applicable, currency) movements and the respective termination provisions and
notional principal amount and term of such Rate Protection Agreement.

SECTION 4.8 Sharing of Payments. If any Secured Party shall obtain any payment or
other recovery (whether voluntary, involuntary, by application of setoff or otherwise) on account
of any Credit Extension or Reimbursement Obligation (other than pursuant to the terms of
Sections 4.3, 4.4, 4.5 or 4.6) in excess of its pro
rata share of payments obtained by all Secured Parties, such Secured Party shall purchase
from the other Secured Parties such participations in Credit Extensions made by them as shall be
necessary to cause such purchasing Secured Party to share the excess payment or other recovery
ratably (to the extent such other Secured Parties were entitled to receive a portion of such
payment or recovery) with each of them; provided that if all or any portion of the excess
payment or other recovery is thereafter recovered from such purchasing Secured Party, the purchase
shall be rescinded and each Secured Party which has sold a participation to the purchasing Secured
Party shall repay to the purchasing Secured Party the purchase price to the ratable extent of such
recovery together with an amount equal to such selling Secured Party’s ratable share (according to
the proportion of (a) the amount of such selling Secured Party’s required repayment to the
purchasing Secured Party to (b) total amount so recovered from the purchasing Secured
Party) of any interest or other amount paid or payable by the purchasing Secured Party in respect
of the total amount so recovered. The Borrowers agree that any Secured Party purchasing a
participation from another Secured Party pursuant to this Section may, to the fullest extent
permitted by law, exercise all its rights of payment (including pursuant to Section 4.9)
with respect to such participation as fully as if such Secured Party were the direct creditor of
the Borrowers in the amount of such participation. If under any applicable bankruptcy, insolvency
or other similar law any Secured Party receives a secured claim in lieu of a setoff to which this
Section applies, such Secured Party shall, to the extent practicable, exercise its rights in
respect of such secured claim in a manner consistent with the rights of the Secured Parties
entitled under this Section to share in the benefits of any recovery on such secured claim.

SECTION 4.9 Setoff. Each Secured Party shall, upon the occurrence and during the
continuance of any Default described in Section 8.1.1 or clauses (a) through
(d) of Section 8.1.9 or, with the consent of the Required Lenders, upon the
occurrence and during the continuance of any other Event of Default, have the right to appropriate
and apply to the payment of the Obligations (whether or not then due), and (as security for such
Obligations) each Borrower hereby grants to each Secured Party a continuing security interest in,
any and all balances, credits, deposits, accounts or moneys of such Borrower then or thereafter
maintained with such Secured Party; provided that any such appropriation and application
shall be subject to the provisions of Section 4.8. Each Secured Party agrees promptly to
notify the Borrowers and the Administrative Agents after any such appropriation and application
made by such Secured Party; provided that the failure to give such notice shall not affect
the validity of such setoff and application. The rights of each Secured Party under this Section
are in addition to other rights and remedies (including other rights of setoff under applicable law
or otherwise) which such Secured Party may have.

SECTION 4.10 Removal of Lenders. If any Lender (an “Affected Lender”) (a)
fails to consent to an election, consent, amendment, waiver or other modification to this Agreement
or other Loan Document that requires the consent of a greater percentage of the Lenders than the
Required Lenders and such election, consent, amendment, waiver or other modification is otherwise
consented to by the Required Lenders or (b) makes a demand upon the Company for (or if the Company
is otherwise required to pay) amounts pursuant to Section 4.3, 4.5 or 4.6
(and the payment of such amounts are, and are likely to continue to be, more onerous in the
reasonable judgment of the Company than with respect to the other Lenders), or gives notice
pursuant to Section 4.1 requiring a conversion of such Affected Lender’s LIBO Rate Loans to
Base Rate Loans or suspending such Lender’s obligation to make Loans as, or to convert Loans into,
LIBO Rate Loans, the Company may, within 30 days of receipt by the Company of such demand or
notice, as the case may be, give notice (a “Replacement Notice”) in writing to the
applicable Administrative Agent and such Affected Lender of its intention to cause such Affected
Lender to sell all or any portion of its Loans, Commitments, Notes and/or Synthetic Deposit to
another financial institution or other Person (a “Replacement Lender”) designated in such
Replacement Notice; provided that no Replacement Notice may be given by the Company if (i)
such replacement conflicts with any applicable law or regulation, (ii) any Event of Default shall
have occurred and be continuing at the time of such replacement or (iii) prior to any such
replacement, such Lender shall have taken any necessary action under Section 4.5 or
4.6 (if applicable) so as to eliminate the continued need for payment of amounts owing
pursuant to Section 4.5 or 4.6. If the applicable Administrative Agent shall, in
the exercise of its reasonable discretion and within 30 days of its receipt of such Replacement
Notice, notify the Company and such Affected Lender in writing that the Replacement Lender is
satisfactory to the applicable Administrative Agent (such consent not being required where the
Replacement Lender is already a Lender), then such Affected Lender shall, subject to the payment of
any amounts due pursuant to Section 4.4, assign, in accordance with Section 10.11,
the portion of its Commitments, Loans, Notes (if any), Synthetic Deposits and other rights and
obligations under this Agreement and all other Loan Documents (including Reimbursement Obligations,
if applicable) designated in the replacement notice to such Replacement Lender; provided
that (i) such assignment shall be without recourse, representation or warranty and shall be on
terms and conditions reasonably satisfactory to such Affected Lender and such Replacement Lender,
(ii) the purchase price paid by such Replacement Lender shall be in the amount of such Affected
Lender’s Loans designated in the Replacement Notice, Synthetic Deposits and/or its Percentage of
outstanding Reimbursement Obligations, as applicable, together with all accrued and unpaid interest
and fees in respect thereof, plus all other amounts (including the amounts demanded and
unreimbursed under Sections 4.3, 4.5 and 4.6), owing to such Affected
Lender hereunder and (iii) the Company shall pay to the Affected Lender and the applicable
Administrative Agent all reasonable out-of-pocket expenses incurred by the Affected Lender and such
Administrative Agent in connection with such assignment and assumption (including the processing
fees described in Section 10.11). Upon the effective date of an assignment described
above, the Replacement Lender shall become a “Lender” for all purposes under the Loan Documents.
Each Lender hereby grants to each Administrative Agent an irrevocable power of attorney (which
power is coupled with an interest) to execute and deliver, on behalf of such Lender as assignor,
any assignment agreement necessary to effectuate any assignment of such Lender’s interests
hereunder in the circumstances contemplated by this Section.

SECTION 4.11 Guaranty by the Company. The Company acknowledges and agrees that,
whether or not specifically indicated as such in a Loan Document, all Designated Borrower
Obligations shall be joint and several Obligations of the Company, and in furtherance of such joint
and several Obligations, the Company hereby irrevocably guarantees the payment of all Designated
Borrower Obligations of each Designated Borrower as set forth below.

SECTION 4.11.1 Guaranty. The Company hereby absolutely, unconditionally and
irrevocably guarantees the full and punctual payment when due, whether at stated maturity, by
required prepayment, declaration, acceleration, demand or otherwise, of all Designated Borrower
Obligations. This guaranty constitutes a guaranty of payment when due and not of collection, and
the Company specifically agrees that it shall not be necessary or required that any Secured Party
exercise any right, assert any claim or demand or enforce any remedy whatsoever against any Obligor
or any other Person before or as a condition to the obligations of the Company hereunder.

SECTION 4.11.2 Guaranty Absolute, etc. The guaranty agreed to above shall in all
respects be a continuing, absolute, unconditional and irrevocable guaranty of payment, and shall
remain in full force and effect until the Termination Date. The Company guarantees that the
Designated Borrower Obligations will be paid strictly in accordance with the terms of each Loan
Document under which such Designated Borrower Obligations arise, regardless of any law, regulation
or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights
of any Secured Party with respect thereto. The liability of the Company under this Agreement shall
be joint and several, absolute, unconditional and irrevocable irrespective of: (a) any lack of
validity, legality or enforceability of any Loan Document; (b) the failure of any Secured Party to
assert any claim or demand or to enforce any right or remedy against any Obligor or any other
Person (including any other guarantor) under the provisions of any Loan Document or otherwise, or
to exercise any right or remedy against any other guarantor (including any Obligor) of, or
collateral securing, any Designated Borrower Obligations; (c) any change in the time, manner or
place of payment of, or in any other term of, all or any part of the Designated Borrower
Obligations, or any other extension, compromise or renewal of any Designated Borrower Obligation;
(d) any reduction, limitation, impairment or termination of any Designated Borrower Obligations for
any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall
not be subject to (and the Company hereby waives any right to or claim of) any defense (including
any defense under or in connection with any decree) or setoff, counterclaim, recoupment or
termination whatsoever by reason of the invalidity, illegality, irregularity, compromise,
unenforceability of, or any other event or occurrence affecting, any Designated Borrower
Obligations or otherwise; (e) any amendment to, rescission, waiver, or other modification of, or
any consent to or departure from, any of the terms of any Loan Document; (f) any addition,
exchange, release, surrender or non-perfection of any collateral, or any amendment to or waiver or
release or addition of, or consent to or departure from, any other guaranty held by any Secured
Party securing any of the Designated Borrower Obligations; or (g) any other circumstance which
might otherwise constitute a defense available to, or a legal or equitable discharge of, any
Obligor, any surety or any guarantor.

SECTION 4.11.3 Reinstatement, etc. The Company agrees that its guaranty shall
continue to be effective or be reinstated, as the case may be, if at any time any payment (in whole
or in part) of any of the Designated Borrower Obligations is rescinded or must otherwise be
restored by any Secured Party, upon the insolvency, bankruptcy or reorganization of any other
Designated Borrower, any other Obligor or otherwise, all as though such payment had not been made.

SECTION 4.11.4 Waiver, etc. The Company hereby waives promptness, diligence, notice
of acceptance and any other notice with respect to any of the Obligations and this Agreement and
any requirement that any Secured Party protect, secure, perfect or insure any Lien, or any property
subject thereto, or exhaust any right or take any action against any other Obligor or any other
Person (including any other guarantor) or entity or any collateral securing the Obligations, as the
case may be.

SECTION 4.11.5 Postponement of Subrogation, etc. Each Borrower agrees that it will
not exercise any rights which it may acquire by way of rights of subrogation under any Loan
Document to which it is a party, nor shall any Borrower seek or be entitled to seek any
contribution or reimbursement from any Obligor, in respect of any payment made hereunder, under any
other Loan Document or otherwise, until following the Termination Date. Any amount paid to any
Borrower on account of any such subrogation rights prior to the Termination Date shall be held in
trust for the benefit of the Secured Parties and shall immediately be paid and turned over to the
Collateral Agent for the benefit of the Secured Parties in the exact form received by such Borrower
(duly endorsed in favor of the Collateral Agent, if required), to be credited and applied against
the Obligations, whether matured or unmatured, in accordance with Section 4.7;
provided that (a) if any Borrower has made payment to the Secured Parties of all or any
part of the Obligations; and (b) the Termination Date has occurred; then at such Borrower’s
request, the Collateral Agent, (on behalf of the Secured Parties) will, at the expense of such
Borrower, execute and deliver to such Borrower appropriate documents (without recourse and without
representation or warranty) necessary to evidence the transfer by subrogation to such Borrower of
an interest in the Obligations resulting from such payment. In furtherance of the foregoing, at
all times prior to the Termination Date each Borrower shall refrain from taking any action or
commencing any proceeding against any Obligor (or its successors or assigns, whether in connection
with a bankruptcy proceeding or otherwise) to recover any amounts in the respect of payments made
under any Loan Document to any Secured Party.

ARTICLE V

CONDITIONS TO CREDIT EXTENSIONS

SECTION 5.1 Initial Credit Extension. The obligations of the Lenders and, if
applicable, an Issuer to make the initial Credit Extension shall be subject to the prior or
concurrent satisfaction of each of the conditions precedent set forth in this Article.

SECTION 5.1.1 Resolutions, etc. The Administrative Agents shall have received from
each Obligor, as applicable, (i) a copy of a good standing certificate, dated a date reasonably
close to the Closing Date, for each such Person and (ii) a certificate, dated as of the Closing
Date with counterparts for each Lender, duly executed and delivered by such Person’s Secretary or
Assistant Secretary, managing member or general partner, as applicable, as to

(a) resolutions of each such Person’s Board of Directors (or other managing body, in
the case of other than a corporation) then in full force and effect authorizing, to the
extent relevant, all aspects of the Transaction applicable to such Person and the execution,
delivery and performance of each Loan Document to be executed by such Person and the
transactions contemplated hereby and thereby;

(b) the incumbency and signatures of those of its officers, managing member or general
partner, as applicable, authorized to act with respect to each Loan Document to be executed
by such Person; and

(c) the full force and validity of each Organic Document of such Person and copies
thereof;

upon which certificates each Secured Party may conclusively rely until it shall have received a
further certificate of the Secretary, Assistant Secretary, managing member or general partner, as
applicable, of any such Person canceling or amending the prior certificate of such Person.

SECTION 5.1.2 Closing Date Certificate. The Administrative Agents shall have received
the Closing Date Certificate, dated as of the Closing Date and duly executed and delivered by an
Authorized Officer of each Borrower, in which certificate such Borrower shall agree and acknowledge
that the statements made therein shall be deemed to be true and correct representations and
warranties of such Borrower as of such date, and, at the time each such certificate is delivered,
such statements shall in fact be true and correct. All documents and agreements required to be
appended to the Closing Date Certificate shall be in form and substance satisfactory to the
Administrative Agents, shall have been executed and delivered by the requisite parties, and shall
be in full force and effect.

SECTION 5.1.3 Consummation of Transaction. The Administrative Agents shall have
received evidence satisfactory to them that all actions necessary to consummate the Refinancing and
the other parts of the Transaction have been consummated and taken in accordance with all
applicable law, and all Liens securing payment of any Indebtedness to be repaid in connection with
the Refinancing have been released and appropriate payoff letters executed and delivered, and the
Administrative Agents shall have received appropriate payoff letters and all Uniform Commercial
Code Form UCC-3 termination statements or other instruments as may be suitable or appropriate in
connection therewith.

SECTION 5.1.4 Payment of Outstanding Indebtedness, etc. All Indebtedness identified
in Item 7.2.2(b) of the Disclosure Schedule, together with all interest, all prepayment
premiums and other amounts due and payable with respect thereto, shall have been paid in full from
the proceeds of the initial Credit Extension and the commitments in respect of such Indebtedness
shall have been terminated, and all Liens securing payment of any such Indebtedness shall have been
released and the Administrative Agents shall have received all Uniform Commercial Code Form UCC-3
termination statements or other instruments as may be suitable or appropriate in connection
therewith.

SECTION 5.1.5 Delivery of Notes. The Administrative Agents shall have received, for
the account of each Lender that has requested a Note, such Lender’s Notes duly executed and
delivered by an Authorized Officer of the Borrowers.

SECTION 5.1.6 Financial Information, etc. The Administrative Agents shall have
received,

(a) unaudited consolidated financial statements of the Company and its Subsidiaries for
the 2005 Fiscal Year, which financial statements shall not be materially inconsistent with
the financial statements previously provided to the Administrative Agents; and

(b) the Company’s Form 10-K for the 2004 Fiscal Year.

SECTION 5.1.7 Compliance Certificate. The Administrative Agents shall have received
an initial Compliance Certificate on a pro forma basis as if the Refinancing had
been consummated and the initial Credit Extension had been made as of December 31, 2005, dated the
date of the initial Credit Extension, duly executed (and with all schedules thereto duly completed)
and delivered by the chief financial or accounting Authorized Officer of the Company, which
Compliance Certificate shall set forth such items therein as the Administrative Agents may
reasonably request, including, without limitation, demonstrating that (a) the Company’s pro
forma EBITDA for the four full Fiscal Quarters ended December 31, 2005 (prepared in
accordance with Regulation S-X under the Securities Act of 1933, as amended, and with such further
adjustments satisfactory to the Administrative Agents, in each case, to give pro
forma effect to the Transactions as if they had occurred at the beginning of such four
Fiscal Quarters period), the “Pro Forma EBITDA”) is not less than $150,000,000 and (b) the
Company’s pro forma Leverage Ratio is not greater than 4.25:1.

SECTION 5.1.8 Solvency. The Administrative Agents shall have received a solvency
certificate, dated as of the Closing Date and duly executed and delivered by the chief financial or
accounting Authorized Officer of the Company, in form and substance satisfactory to the
Administrative Agents, certifying that after giving pro forma effect to the
Transaction the Company and its Subsidiaries are Solvent.

SECTION 5.1.9 Guarantees. The Administrative Agents shall have received the
Subsidiary Guaranty (Domestic), dated as of the Closing Date and duly executed and delivered by an
Authorized Officer of each U.S. Subsidiary and each Foreign Subsidiary to the extent required by
Section 7.1.8.

SECTION 5.1.10 Pledge and Security Agreement; Collateral Sharing Agreement.

(a) The Administrative Agents shall have received the Pledge and Security Agreement, dated as
of the Closing Date and duly executed and delivered by the Company and each U.S. Subsidiary (other
than an SPV), together with:

(i) certificates (in the case of Capital Securities that are securities (as defined in
the UCC)) evidencing all of the issued and outstanding Capital Securities owned by each
Obligor in its U.S. Subsidiaries (other than an SPV) and, except for the Foreign
Subsidiaries listed on Schedule IV and Ferro PF, 65% of the issued and outstanding
Voting Securities of each Foreign Subsidiary (together with all the issued and outstanding
non-voting Capital Securities of such Foreign Subsidiary) directly owned by the Company or
any U.S. Subsidiary, which certificates in each case shall be accompanied by undated
instruments of transfer duly executed in blank, or, if any Capital Securities (in the case
of Capital Securities that are uncertificated securities (as defined in the UCC)),
confirmation and evidence satisfactory to the Agents that the security interest therein has
been transferred to and perfected by the Collateral Agent for the benefit of the Secured
Parties in accordance with Articles 8 and 9 of the UCC and all laws otherwise applicable to
the perfection of the pledge of such Capital Securities;

(ii) Filing Statements suitable in form for naming the Company and each Subsidiary
Guarantor as a debtor and the Collateral Agent as the secured party, or other similar
instruments or documents to be filed under the UCC of all jurisdictions as may be necessary
or, in the opinion of the Collateral Agent, desirable to perfect the security interests of
the Collateral Agent pursuant to the Pledge and Security Agreement;

(iii) UCC Form UCC-3 termination statements, if any, necessary to release all Liens and
other rights of any Person (i) in any collateral described in any security agreement
previously granted by any Person, and (ii) securing any of the Indebtedness identified in
Item 7.2.2(b) of the Disclosure Schedule, together with such other UCC Form UCC-3
termination statements as the Administrative Agents may reasonably request from such
Obligors; and

(iv) certified copies of UCC Requests for Information or Copies (Form UCC-11), or a
similar search report certified by a party acceptable to the Collateral Agent, dated a date
reasonably near to the Closing Date, listing all effective financing statements which name
any Obligor (under its present name and any previous names) as the debtor, together with
copies of such financing statements (none of which shall, except with respect to Liens
permitted by Section 7.2.3.), evidence a Lien on any collateral described in any
Loan Document); and

(b) The Administrative Agents shall have received the Collateral Sharing Agreement, executed
and delivered by the Trustee and each party to the Pledge and Security Agreement.

SECTION 5.1.11 Intellectual Property Security Agreements. The Administrative Agents
shall have received a Patent Security Agreement, a Copyright Security Agreement and a Trademark
Security Agreement, as applicable, each dated as of the Closing Date and duly executed and
delivered by each Obligor that, pursuant to the Pledge and Security Agreement, is required to
provide such intellectual property security agreements to the Collateral Agent.

SECTION 5.1.12 Filing Agent, etc. All Uniform Commercial Code financing statements or
other similar financing statements and Uniform Commercial Code (Form UCC-3) termination statements
required pursuant to the Loan Documents (collectively, the “Filing Statements”) shall have
been delivered to CT Corporation System or another similar filing service company acceptable to the
Agents (the “Filing Agent”). The Filing Agent shall have acknowledged in a writing
satisfactory to the Agents and their counsel (i) the Filing Agent’s receipt of all Filing
Statements, (ii) that the Filing Statements have either been submitted for filing in the
appropriate filing offices or will be submitted for filing in the appropriate offices within ten
days following the Closing Date and (iii) that the Filing Agent will notify the Agents and their
counsel of the results of such submissions within thirty days following the Closing Date.

SECTION 5.1.13 Insurance. The Administrative Agents shall have received a
certificate, reasonably satisfactory to the Administrative Agents, from the Company’s insurance
broker(s), dated as of (or a date reasonably near) the Closing Date relating to each insurance
policy required to be maintained pursuant to Section 7.1.4, identifying types of insurance
and insurance limits of each such insurance policy and naming the Collateral Agent as additional
insured and/or loss payee on behalf of the Secured Parties to the extent required under Section
7.1.4.

SECTION 5.1.14 Mortgages. Except for the properties listed on Schedule III,
the Administrative Agents shall have received Mortgages, each dated as of the Closing Date and duly
executed and delivered by the applicable Obligor, for all real property owned by the Company or any
U.S. Subsidiary (other than any Excluded Property) together with:

(a) evidence of the completion (or satisfactory arrangements for the completion) of all
recordings and filings of each Mortgage as may be necessary or, in the opinion of the
Administrative Agents, desirable to create a valid, perfected first priority Lien against
the properties purported to be covered thereby;

(b) mortgagee’s title insurance policies in favor of the Collateral Agent for the
benefit of the Secured Parties in amounts and in form and substance and issued by insurers,
satisfactory to the Agents, with respect to the property purported to be covered by each
Mortgage, insuring that title to such property is marketable and that the interests created
by each Mortgage constitute valid first Liens thereon free and clear of all defects and
encumbrances other than as approved by the Administrative Agents, and, if required by the
Administrative Agents and if available, revolving credit endorsement, comprehensive
endorsement, variable rate endorsement, access and utilities endorsements, mechanic’s lien
endorsement and such other endorsements as the Administrative Agents shall reasonably
request and shall be accompanied by evidence of the payment in full of all premiums thereon;
and

(c) such other approvals, opinions, or documents as the Administrative Agents may
request in form and substance satisfactory to the Administrative Agents including consents
and estoppel agreements from landlords, in form and substance satisfactory to the
Administrative Agents and the title insurer.

SECTION 5.1.15 Opinions of Counsel. The Administrative Agents shall have received
opinions, each dated the Closing Date and addressed to the Agents and all Lenders, from:

(a) Baker Hostetler, Ohio, Delaware and New York counsel to the Obligors, in form and
substance reasonably satisfactory to the Administrative Agents; and

(b) local counsel to the Obligors in each jurisdiction in which a Mortgage is being
filed on the Closing Date or in which an Obligor is organized, in form and substance, and
from counsel, reasonably satisfactory to the Administrative Agents.

SECTION 5.1.16 Liquidity, Permitted Receivables Program. The Administrative Agents
shall be satisfied with the liquidity position of the Company and its Subsidiaries and with the
terms of any Indebtedness of the Company and its Subsidiaries, including the terms of the Permitted
Receivables Program.

SECTION 5.1.17 Patriot Act Disclosures. Within five Business Days’ prior to the
Closing Date, the Administrative Agents shall have received copies of all Patriot Act Disclosures
as reasonably requested by the Administrative Agents.

SECTION 5.1.18 Closing Fees, Expenses, etc. The Administrative Agents shall have
received for their own account, or for the account of each other Person entitled thereto, as the
case may be, all fees, costs and expenses due and payable pursuant to Sections 3.3 and, if
then invoiced, 10.3.

SECTION 5.2 All Credit Extensions. The obligation of each Lender and each Issuer to
make any Credit Extension shall be subject to the satisfaction of each of the conditions precedent
set forth below.

SECTION 5.2.1 Compliance with Warranties, No Default, etc. Both before and after
giving effect to any Credit Extension (but, if any Default of the nature referred to in
Section 8.1.5 shall have occurred with respect to any other Indebtedness, without giving
effect to the application, directly or indirectly, of the proceeds thereof) the following
statements shall be true and correct:

(a) the representations and warranties set forth in each Loan Document shall, in each
case, be true and correct with the same effect as if then made (unless stated to relate
solely to an earlier date, in which case such representations and warranties shall be true
and correct in all material respects as of such earlier date); and

(b) no Default shall have then occurred and be continuing.

SECTION 5.2.2 Credit Extension Request, etc. Subject to Section 2.3.2, the
Administrative Agents shall have received a Borrowing Request if Loans are being requested, or an
Issuance Request if a Letter of Credit is being requested or extended. Each of the delivery of a
Borrowing Request or Issuance Request and the acceptance by the Borrowers of the proceeds of such
Credit Extension shall constitute a representation and warranty by the Borrowers that on the date
of such Credit Extension (both immediately before and after giving effect to such Credit Extension
and the application of the proceeds thereof) the statements made in Section 5.2.1 are true
and correct in all material respects.

SECTION 5.2.3 Satisfactory Legal Form. All documents executed or submitted pursuant
hereto by or on behalf of any Obligor shall be reasonably satisfactory in form and substance to the
Administrative Agents and their counsel, and the Administrative Agents and their counsel shall have
received all information, approvals, opinions, documents or instruments as the Administrative
Agents or its counsel may reasonably request.

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

In order to induce the Secured Parties to enter into this Agreement and to make Credit
Extensions hereunder, each Borrower represents and warrants to each Secured Party as set forth in
this Article.

SECTION 6.1 Organization, etc. Each Obligor is validly organized and existing and in
good standing under the laws of the state or jurisdiction of its incorporation or organization, is
duly qualified to do business and is in good standing as a foreign entity in each jurisdiction
where the nature of its business requires such qualification, and has full power and authority and
holds all requisite governmental licenses, permits and other approvals to enter into and perform
its Obligations under each Loan Document to which it is a party, to own and hold under lease its
property and to conduct its business substantially as currently conducted by it.

SECTION 6.2 Due Authorization, Non-Contravention, etc. The execution, delivery and
performance by each Obligor of each Loan Document executed or to be executed by it, each Obligor’s
participation in the consummation of all aspects of the Transaction, and the execution, delivery
and performance by any Borrower or (if applicable) any Obligor of the agreements executed and
delivered by it in connection with the Transaction are in each case within such Person’s powers,
have been duly authorized by all necessary action, and do not

(a) contravene any (i) Obligor’s Organic Documents, (ii) court decree or order binding
on or affecting any Obligor or (iii) law or governmental regulation binding on or affecting
any Obligor; or

(b) result in (i) or require the creation or imposition of, any Lien on any Obligor’s
properties (except as permitted by this Agreement) or (ii) a default under any contractual
restriction binding on or affecting any Obligor.

SECTION 6.3 Government Approval, Regulation, etc. No authorization or approval or
other action by, and no notice to or filing with, any Governmental Authority or other Person (other
than those that have been, or on the Closing Date will be, duly obtained or made and which are, or
on the Closing Date will be, in full force and effect) is required for the consummation of the
Transaction or the due execution, delivery or performance by any Obligor of any Loan Document to
which it is a party. Neither the Company nor any of its Subsidiaries is an “investment company”
within the meaning of the Investment Company Act of 1940, as amended.

SECTION 6.4 Validity, etc. Each Loan Document to which any Obligor is a party
constitutes the legal, valid and binding obligations of such Obligor, enforceable against such
Obligor in accordance with their respective terms (except, in any case, as such enforceability may
be limited by applicable bankruptcy, insolvency, reorganization or similar laws affecting
creditors’ rights generally and by principles of equity).

SECTION 6.5 Financial Information. The financial statements of the Company and its
Subsidiaries furnished to the Administrative Agents and each Lender pursuant to
Section 5.1.6 have been prepared in accordance with GAAP consistently applied, and present
fairly the consolidated financial condition of the Persons covered thereby as at the dates thereof
and the results of their operations for the periods then ended. All balance sheets, all statements
of income and of cash flow and all other financial information of each of the Company and its
Subsidiaries furnished pursuant to Section 7.1.1 have been and will for periods following
the Closing Date be prepared in accordance with GAAP consistently applied, and do or will present
fairly the consolidated financial condition of the Persons covered thereby as at the dates thereof
and the results of their operations for the periods then ended; provided that unaudited
financial statements of the Company and its Subsidiaries have been prepared without footnotes,
without reliance on any physical inventory and are subject to year-end adjustments.

SECTION 6.6 No Material Adverse Change. There has been no material adverse change in
the financial condition, results of operations, assets, business, properties or, until the Closing
Date, prospects of the Company and its Subsidiaries, taken as a whole, since December 31, 2004.

SECTION 6.7 Litigation, Labor Controversies, etc. There is no pending or, to the
knowledge of the Company or any of its Subsidiaries, threatened litigation, action, proceeding,
labor controversy or investigation:

(a) except as disclosed in Item 6.7 of the Disclosure Schedule, affecting the
Company any of its Subsidiaries or any other Obligor, or any of their respective properties,
businesses, assets or revenues, which could reasonably be expected to have a Material
Adverse Effect, and no adverse development has occurred in any labor controversy,
litigation, arbitration or governmental investigation or proceeding disclosed in
Item 6.7; or

(b) which purports to affect the legality, validity or enforceability of any Loan
Document or the Transaction.

SECTION 6.8 Subsidiaries. The Company has no Subsidiaries, except those Subsidiaries
which are identified in Item 6.8 of the Disclosure Schedule, or which are permitted to have
been organized or acquired in accordance with Sections 7.2.5 or 7.2.7.

SECTION 6.9 Ownership of Properties. The Company and each of its Subsidiaries owns
(a) in the case of owned real property, good and marketable fee title to, and (b) in the case of
owned personal property, good and valid title to, or, in the case of leased real or personal
property, valid and enforceable leasehold interests (as the case may be) in, all of its properties
and assets, tangible and intangible, of any nature whatsoever, free and clear in each case of all
Liens or claims, except for Liens permitted pursuant to Section 7.2.3.

SECTION 6.10 Taxes; Other Laws.

(a) The Company and each of its Subsidiaries has filed all tax returns and reports
required by law to have been filed by it and has paid all Taxes thereby shown to be due and
owing, except any such Taxes which are being diligently contested in good faith by
appropriate proceedings and for which adequate reserves in accordance with GAAP shall have
been set aside on its books.

(b) If a Borrowing is repaid in the same country in which such Borrowing is made, there
is no income, stamp or other tax of any country, or any taxing authority thereof or therein,
in the nature of withholding or otherwise, which is imposed on any payment to be made by any
Borrower pursuant hereto, or is imposed on or by virtue of the execution, delivery,
performance or enforcement of the Obligations.

(c) Each Obligor is in compliance in all material respects with the requirements of all
applicable laws and all orders, writs, injunctions and decrees applicable to it or to its
properties (except for Environmental Laws which are the subject of Section 6.12),
except in such instances in which the failure to comply therewith, either individually or in
the aggregate, would not reasonably be expected to have a Material Adverse Effect.

(d) As of the date hereof, no Obligor is subject to any labor or collective bargaining
agreement. There are no existing or threatened strikes, lockouts or other labor disputes
involving any Obligor that singly or in the aggregate could reasonably be expected to have a
Material Adverse Effect. Hours worked by and payments made to employees of each Obligor are
not in violation of the Fair Labor Standards Act or any other applicable law, rule or
regulation dealing with such matters where such violation could reasonably be expected to
have a Material Adverse Effect.

SECTION 6.11 Pension and Welfare Plans. During the twelve-consecutive-month period
prior to the Closing Date and prior to the date of any Credit Extension hereunder, no steps have
been taken to terminate any Pension Plan, and no contribution failure has occurred with respect to
any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA. No condition
exists or event or transaction has occurred with respect to any Pension Plan which might result in
the incurrence by the Company or any member of the Controlled Group of any material liability, fine
or penalty. Except as disclosed in Item 6.11 of the Disclosure Schedule, neither the
Company nor any member of the Controlled Group has any contingent liability with respect to any
post-retirement benefit under a Welfare Plan that is subject to ERISA, other than liability for
continuation coverage described in Part 6 of Title I of ERISA.

SECTION 6.12 Environmental Warranties. Except as set forth in Item 6.12 of
the Disclosure Schedule:

(a) all facilities and property (including underlying groundwater) owned, operated or
leased by the Company or any of its Subsidiaries during the period from and after the date
five years prior to the Closing Date have been, and continue to be, owned, operated or
leased by the Company and its Subsidiaries in material compliance with all Environmental
Laws such that the failure to own, operate or lease such facility or property does not
result in a single liability in excess of $1,000,000 or $5,000,000 in the aggregate for all
such liabilities;

(b) there are no material pending or threatened (i) claims, complaints, notices or
requests for information received by the Company or any of its Subsidiaries with respect to
any alleged violation of any Environmental Law, or (ii) complaints, notices or inquiries to
the Company or any of its Subsidiaries regarding potential liability under any Environmental
Law;

(c) there have been no Releases of Hazardous Materials at, on or under any property now
or previously owned, operated or leased by the Company or any of its Subsidiaries that have,
or could reasonably be expected to have, a Material Adverse Effect;

(d) the Company and its Subsidiaries have been issued and are in material compliance
with all material permits, certificates, approvals, licenses and other authorizations
relating to environmental matters;

(e) no property now or, to the knowledge of the Company, previously owned, operated or
leased by the Company or any of its Subsidiaries is listed or, to the knowledge of the
Company, proposed for listing (with respect to owned property only) on the National
Priorities List pursuant to CERCLA, on the CERCLIS or on any similar state list of sites
requiring investigation or clean-up;

(f) there are no underground storage tanks, active or abandoned, including petroleum
storage tanks, on or under any property now or previously owned, operated or leased by the
Company or any of its Subsidiaries that, singly or in the aggregate, have, or could
reasonably be expected to have, a Material Adverse Effect;

(g) neither the Company nor any of its Subsidiaries has directly transported or
directly arranged for the transportation of any Hazardous Material to any location which is
listed or, to the knowledge of the Company, proposed for listing on the National Priorities
List pursuant to CERCLA, on the CERCLIS or on any similar state list or which is the subject
of federal, state or local enforcement actions or other investigations which may lead to
material claims against the Company or such Subsidiary for any remedial work, damage to
natural resources or personal injury, including claims under CERCLA;

(h) there are no polychlorinated biphenyls or asbestos present at any property now or
previously owned, operated or leased by the Company or any Subsidiary that, singly or in the
aggregate, have, or could reasonably be expected to have, a Material Adverse Effect; and

(i) no conditions exist at, on or under any property now owned, operated or leased by
the Company or any Subsidiary which, with the passage of time, or the giving of notice or
both, would give rise to material liability under any Environmental Law.

SECTION 6.13 Accuracy of Information. None of the factual information heretofore or
contemporaneously furnished in writing to any Secured Party by or on behalf of any Obligor in
connection with any Loan Document or any transaction contemplated hereby (including the
Transaction) contains any untrue statement of a material fact, or omits to state any material fact
necessary to make any information not misleading, and no other factual information hereafter
furnished in connection with any Loan Document by or on behalf of any Obligor to any Secured Party
will contain any untrue statement of a material fact or will omit to state any material fact
necessary to make any information not misleading on the date as of which such information is dated
or certified.

SECTION 6.14 Regulations U and X. No Obligor is engaged in the business of extending
credit for the purpose of buying or carrying margin stock, and no proceeds of any Credit Extensions
will be used to purchase or carry margin stock or otherwise for a purpose which violates, or would
be inconsistent with, F.R.S. Board Regulation U or Regulation X. Terms for which meanings are
provided in F.R.S. Board Regulation U or Regulation X or any regulations substituted therefor, as
from time to time in effect, are used in this Section with such meanings.

SECTION 6.15 Solvency. The Company and its Subsidiaries, taken as a whole, on a
consolidated basis, both before and after giving effect to any Credit Extensions, are Solvent.

ARTICLE VII

COVENANTS

SECTION 7.1 Affirmative Covenants. Each Borrower agrees with each Lender, each Issuer
and the Administrative Agents that until the Termination Date has occurred, each Borrower will, and
will cause its Subsidiaries to, perform or cause to be performed the obligations set forth below.

SECTION 7.1.1 Financial Information, Reports, Notices, etc. The Company will furnish
each Lender and the Administrative Agents copies of the following financial statements, reports,
notices and information:

(a) as soon as available and in any event within 45 days after the end of each of the
first three Fiscal Quarters of each Fiscal Year, an unaudited consolidated balance sheet of
the Company and its Subsidiaries as of the end of such Fiscal Quarter and consolidated
statements of income and cash flow of the Company and its Subsidiaries for such Fiscal
Quarter and for the period commencing at the end of the previous Fiscal Year and ending with
the end of such Fiscal Quarter, and including (in each case), in comparative form the
figures for the corresponding Fiscal Quarter in, and year to date portion of, the
immediately preceding Fiscal Year, certified as complete and correct by the chief financial
or accounting Authorized Officer of the Company (subject to normal year-end audit
adjustments); provided that the financial information required to be delivered under
this clause for the Fiscal Quarters ended June 30, 2006 and September 30, 2006 will not be
required to be delivered until the date the Company is required to file those statements
with the SEC to comply with clause (a) of Section 7.1.9;

(b) as soon as available and in any event within 90 days after the end of each Fiscal
Year, a copy of the consolidated balance sheet of the Company and its Subsidiaries, and the
related consolidated statements of income and cash flow of the Company and its Subsidiaries
for such Fiscal Year, setting forth in comparative form the figures for the immediately
preceding Fiscal Year, audited (without any Impermissible Qualification) by a “Big Four”
accounting firm or other independent public accountants acceptable to the Administrative
Agents, stating that, in performing the examination necessary to deliver the audited
financial statements of the Company, no knowledge was obtained of any Event of Default;

(c) concurrently with the delivery of the financial information pursuant to
clauses (a) and (b), a Compliance Certificate, executed by the chief
financial or accounting Authorized Officer of the Company, (i) showing compliance with the
financial covenants set forth in Section 7.2.4 and stating that no Default has
occurred and is continuing (or, if a Default has occurred, specifying the details of such
Default and the action that the Company or an Obligor has taken or proposes to take with
respect thereto), (ii) stating that no Subsidiary has been formed or acquired since the
delivery of the last Compliance Certificate (or, if a Subsidiary has been formed or acquired
since the delivery of the last Compliance Certificate, a statement that such Subsidiary has
complied with Section 7.1.8) and (iii) in the case of a Compliance Certificate
delivered concurrently with the financial information pursuant to clause (b), if the
Company’s Leverage Ratio is equal to or exceeds 3.50:1, a calculation of Excess Cash Flow;
provided that, notwithstanding the proviso to clause (a), the Compliance
Certificate for the Fiscal Quarters ended June 30, 2006 and September 30, 2006 will not be
required to be delivered until October 30, 2006 and November 30, 2006, respectively;

(d) as soon as possible and in any event within three Business Days after the Company
or any other Obligor obtains knowledge of the occurrence of a Default, a statement of an
Authorized Officer of the Company setting forth details of such Default and the action which
the Company or such Obligor has taken and proposes to take with respect thereto;

(e) as soon as possible and in any event within three Business Days after the Company
or any other Obligor obtains knowledge of (i) the occurrence of any material adverse
development with respect to any litigation, action, proceeding or labor controversy
described in Item 6.7 of the Disclosure Schedule or (ii) the commencement of any
litigation, action, proceeding or labor controversy of the type and materiality described in
Section 6.7, notice thereof and, to the extent any Agent requests, copies of all
documentation relating thereto;

(f) promptly upon becoming aware of (i) the institution of any steps by any Person to
terminate any Pension Plan, (ii) the failure to make a required contribution to any Pension
Plan if such failure is sufficient to give rise to a Lien under Section 302(f) of ERISA,
(iii) the taking of any action with respect to a Pension Plan which could result in the
requirement that any Obligor furnish a bond or other security to the PBGC or such Pension
Plan, or (iv) the occurrence of any event with respect to any Pension Plan which could
result in the incurrence by any Obligor of any material liability, fine or penalty, notice
thereof and copies of all documentation relating thereto;

(g) promptly following the mailing or receipt of any notice or report delivered under
the terms of the Indentures, copies of such notice or report;

(h) all Patriot Act Disclosures, to the extent reasonably requested by the
Administrative Agents; and

(i) such other financial and other information as any Lender or Issuer through the
Administrative Agents may from time to time reasonably request (including information and
reports in such detail as the Administrative Agents may request with respect to the terms of
and information provided pursuant to the Compliance Certificate).

SECTION 7.1.2 Maintenance of Existence; Compliance with Contracts, Laws, etc. The
Company will, and will cause each of its Subsidiaries to, preserve and maintain its legal existence
(except as otherwise permitted by Section 7.2.7), perform in all material respects their
obligations under material agreements to which the Company or a Subsidiary is a party, and comply
in all material respects with all applicable laws, rules, regulations and orders, including the
payment (before the same become delinquent), of all Taxes, imposed upon the Company or its
Subsidiaries or upon their property except to the extent being diligently contested in good faith
by appropriate proceedings and for which adequate reserves in accordance with GAAP have been set
aside on the books of the Company or its Subsidiaries, as applicable.

SECTION 7.1.3 Maintenance of Properties. The Company will, and will cause each of its
Subsidiaries to, maintain, preserve, protect and keep its and their respective properties in good
repair, working order and condition (ordinary wear and tear excepted), and make necessary repairs,
renewals and replacements so that the business carried on by the Borrowers and their Subsidiaries
may be properly conducted at all times, unless any Borrower or any Subsidiary determines in good
faith that the continued maintenance of such property is no longer economically desirable,
necessary or useful to the business of such Borrower or any of its Subsidiaries or the Disposition
of such property is otherwise permitted by Sections 7.2.7 or 7.2.8.

SECTION 7.1.4 Insurance. The Company will, and will cause each of its Subsidiaries to
maintain:

(a) insurance on its property with financially sound and reputable insurance companies
against loss and damage in at least the amounts (and with only those deductibles)
customarily maintained, and against such risks as are typically insured against in the same
general area, by Persons of comparable size engaged in the same or similar business as the
Borrowers and their Subsidiaries; and

(b) all worker’s compensation, employer’s liability insurance or similar insurance as
may be required under the laws of any state or jurisdiction in which it may be engaged in
business.

Without limiting the foregoing, all insurance policies required pursuant to this Section shall
(i) name the Collateral Agent on behalf of the Secured Parties as mortgagee (in the case of
property insurance) or additional insured (in the case of liability insurance), as applicable, and
provide that no cancellation or modification of the policies will be made without thirty days’
prior written notice to the Collateral Agent and (ii) be in addition to any requirements to
maintain specific types of insurance contained in the other Loan Documents.

SECTION 7.1.5 Books and Records. The Company will, and will cause each of its
Subsidiaries to:

(a) keep books and records in accordance with GAAP which accurately reflect all of its
business affairs and transactions;

(b) permit the Administrative Agents or any of their respective representatives, at
reasonable times and intervals and upon reasonable notice to the Company, to visit each of
the Company’s and its Subsidiaries’ offices, to discuss such Person’s financial matters with
its officers and employees, and, after the occurrence of an Event of Default, its
independent public accountants (and the Company hereby authorizes such independent public
accountant to discuss each of such Person’s financial matters with the Administrative Agents
or any of their respective representatives whether or not any representative of such Person
is present, so long as a representative of such Person has been afforded a reasonable
opportunity to be present) and to examine (and photocopy extracts from) any of such Person’s
books and records; and

(c) afford all other Lenders and any of their respective representatives the
opportunity to collectively visit the Company’s and its Subsidiaries’ offices on one day per
calendar year, coordinated with the Administrative Agents (such date to be determined by the
Company in consultation with the Administrative Agents and each such Lender to be given
reasonable notice of such visitation date), to discuss such Person’s financial matters with
its officers and employees; provided that each such Lender or any of their
respective representatives, at reasonable times and intervals and upon reasonable notice to
the Company, shall be permitted to do any of the foregoing at any time after the occurrence
and during the continuation of an Event of Default.

The Company shall pay any fees of such independent public accountant incurred in connection
with any Lender’s exercise of its rights pursuant to this Section.

SECTION 7.1.6 Environmental Law Covenant. The Company will, and will cause each of
its Subsidiaries to:

(a) use and operate all of its and their facilities and properties in material
compliance with all Environmental Laws, keep all necessary permits, approvals, certificates,
licenses and other authorizations relating to environmental matters in effect and remain in
material compliance therewith, and handle all Hazardous Materials in material compliance
with all applicable Environmental Laws; and

(b) promptly notify the Agents and provide copies upon receipt of all written claims,
complaints, notices or inquiries relating to the condition of its facilities and properties
in respect of, or as to any material non-compliance with, Environmental Laws, and shall
promptly resolve such material non-compliance with Environmental Laws and keep its property
free of any Lien imposed by any Environmental Law.

SECTION 7.1.7 Use of Proceeds. The Borrowers will apply the proceeds of the Credit
Extensions as follows:

(a) in the case of Term Loans, (i) to repay Indebtedness of the Company consisting of
notes or debentures issued under the Indentures and (ii) to repay Revolving Loans in an
amount not to exceed $95,000,000; provided that at such time there is no condition,
occurrence or event which, after notice or lapse of time or both, would constitute an Event
of Default (as defined in each Indenture) or any Event of Default (as defined in each
Indenture) continuing under any Indenture, the Company may repay an additional amount of
Revolving Loans in an amount not to exceed $55,000,000 with the proceeds of Term Loans;

(b) in the case of the Revolving Loans, for working capital and general corporate
purposes of the Borrowers and the Subsidiary Guarantors, including Capital Expenditures and
Permitted Acquisitions by such Persons, but excluding the repayment of outstanding
Indebtedness under the Indentures; and

(c) for issuing Letters of Credit for the account of the Borrowers and the Subsidiary
Guarantors.

SECTION 7.1.8 Future Guarantors, Security, etc. The Company will, and will cause each
of its Subsidiaries to:

(a) execute the Subsidiary Guaranty (Domestic) or a supplement thereto unless, in the
case of a Foreign Subsidiary, to do so would result in a materially increased Tax liability
for the Company (as reasonably determined by the Administrative Agents in consultation with
the Company).

(b) with respect to each U.S. Subsidiary (and any subsequently acquired or created U.S.
Subsidiary), execute the Pledge and Security Agreement or a supplement thereto and a
Mortgage with respect to any real property owned by such Person (other than any Excluded
Property) with a net book value of more than $500,000.

(c) execute any documents, Foreign Pledge Agreements, Filing Statements, agreements and
instruments, and take all further action (including filing such Mortgages) that may be
required under applicable law, or that the Administrative Agents may reasonably request, in
order to effectuate the transactions contemplated by the Loan Documents and in order to
grant, preserve, protect and perfect the validity and first priority (subject to Liens
permitted by Section 7.2.3) of the Liens created or intended to be created by the
Loan Documents.

(d) at its cost and expense, promptly secure the Obligations by pledging or creating,
or causing to be pledged or created, perfected Liens with respect to such of its assets and
properties as the Administrative Agents or the Required Lenders shall designate, it being
agreed that it is the intent of the parties that the Obligations shall be secured by, among
other things, substantially all the assets of the Company and its U.S. Subsidiaries
(including real and personal property acquired subsequent to the Closing Date (subject to
the limitation in clause (b)); provided that neither the Company nor its
Subsidiaries shall be required to pledge more than 65% of the Voting Securities of any
Foreign Subsidiary unless such pledge would not result in a materially adverse tax
consequences to the Company (as determined by the Administrative Agents) or the Capital
Securities of Ferro PF. Such Liens will be created under the Loan Documents in form and
substance satisfactory to the Agents, and the Company shall deliver or cause to be delivered
to the Agents all such instruments and documents (including legal opinions, surveys, title
insurance policies and Lien searches) as the Agents shall reasonably request to evidence
compliance with this Section.

Notwithstanding the foregoing provisions of this Section, no SPV shall be required, under any
circumstances, to execute any Subsidiary Guaranty or any other Loan Document to grant Liens in any
of its assets to secure the Obligations.

SECTION 7.1.9 SEC Reports; Certain Financial Information

(a) The Company will file with the SEC, (i) on or prior to November 15, 2006, its
report on Form 10-K for the 2005 Fiscal Year and (ii) on the earlier of (x) three months
after the date such Form 10-K is delivered and (y) January 15, 2007, its reports on Form
10-Q for the first three Fiscal Quarters of the 2006 Fiscal Year.

(b) Except as set forth in clause (a) above, the Company shall comply, on a
timely basis, with all SEC filing requirements applicable to the Company and its
Subsidiaries.

SECTION 7.1.10 Maintenance of Ratings of Loans. The Company will use commercially
reasonable efforts to (a) cause its Index Debt Rating with S&P as of the Closing Date to be in
effect at all times through the Stated Maturity Date, (b) cause Moody’s to reinstate coverage of
the Company by March 31, 2007 and (c) if unable to obtain reinstatement of Moody’s coverage
pursuant to clause (b), cause a senior secured credit rating with respect to the Loans from
each of S&P and Moody’s to be available at all times after March 31, 2007 through the Stated
Maturity Date for Term Loans.

SECTION 7.1.11 Cash Management. The Company will deliver to the Collateral Agent
fully executed Control Agreements with respect to each Deposit Account and Securities Account of
the Company and each U.S. Subsidiary (other than those maintained with the Collateral Agent and
accounts holding cash on deposit with metal lessors) that at any time holds assets in excess of
$1,000,000, in each case when such account is created or when such threshold is reached.

SECTION 7.1.12 Maintenance of Corporate Separateness. The Company will, and will
cause each of its Subsidiaries to, satisfy customary corporate formalities, including the holding
of regular board of directors’ and shareholders’ meetings and the maintenance of corporate offices
and records and take all actions reasonably necessary to maintain their corporate separateness.

SECTION 7.1.13 Mortgages. The Company will deliver, or cause to be delivered, as soon
as possible following the Closing Date, and in any event on or prior to the dates set forth in
Schedule III, Mortgages for each property listed on Schedule III (except as
otherwise extended with the consent of the Collateral Agent, such consent not to be unreasonably
withheld), each duly executed and delivered by the applicable Obligor together with all applicable
requirements set forth in clauses (a), (b) and (c) of Section
5.1.14.

SECTION 7.1.14 Foreign Subsidiaries; Foreign Pledge Agreements. The Company will
deliver, or cause to be delivered, as soon as possible following the Closing Date, and in any event
within sixty days following the Closing Date (except as otherwise extended with the consent of the
Collateral Agent, such consent not to be unreasonably withheld),

(a) certificates (in the case of Capital Securities that are securities (as defined in
the UCC)), or such other instruments, agreements, or other arrangements, as the Collateral
Agent may reasonably approve (such approval not to be unreasonably withheld), evidencing 65%
of the issued and outstanding Voting Securities of each Foreign Subsidiary listed on
Schedule IV (together with all the issued and outstanding non-voting Capital
Securities of such Foreign Subsidiary) directly owned by the Company or any U.S. Subsidiary
(other than Ferro PF), which certificates in each case shall be accompanied by undated
instruments of transfer duly executed in blank, or, if any Capital Securities (in the case
of Capital Securities that are uncertificated securities (as defined in the UCC)),
confirmation and evidence satisfactory to the Agents that the security interest therein has
been transferred to and perfected by the Collateral Agent for the benefit of the Secured
Parties in accordance with Articles 8 and 9 of the UCC and all laws otherwise applicable to
the perfection of the pledge of such Capital Securities, and

(b) all Foreign Pledge Agreements, in each case duly executed and delivered by all
parties thereto, which such agreements shall remain in full force and effect, and all Liens
granted to the Collateral Agent thereunder shall be duly perfected to provide the Collateral
Agent with a security interest in and Lien on all collateral granted thereunder free and
clear of other Liens, except to the extent consented to by the Administrative Agents.

SECTION 7.2 Negative Covenants. Each Borrower covenants and agrees with each Lender,
each Issuer and the Administrative Agents that until the Termination Date has occurred, each
Borrower will, and will cause its Subsidiaries to, perform or cause to be performed the obligations
set forth below.

SECTION 7.2.1 Business Activities. The Company will not, and will not permit any of
its Subsidiaries to, engage in any business activity except those business activities engaged in on
the date of this Agreement and activities reasonably incidental thereto.

SECTION 7.2.2 Indebtedness. The Company will not, and will not permit any of its
Subsidiaries to, create, incur, assume or permit to exist any Indebtedness, other than:

(a) Indebtedness in respect of the Obligations;

(b) until the Closing Date, Indebtedness that is to be repaid in full as further
identified in Item 7.2.2(b) of the Disclosure Schedule;

(c) Indebtedness existing as of the Closing Date which is identified in
Item 7.2.2(c) of the Disclosure Schedule, and refinancing of such Indebtedness in a
principal amount not in excess of that which is outstanding on the Closing Date (as such
amount has been reduced following the Closing Date);

(d) unsecured Indebtedness (i) incurred in the ordinary course of business of the
Company and its Subsidiaries and (ii) in respect of performance, surety or appeal bonds
provided in the ordinary course of business, but excluding (in each case), Indebtedness
incurred through the borrowing of money or Contingent Liabilities in respect thereof;

(e) Indebtedness (i) in respect of industrial revenue bonds or other similar
governmental or municipal bonds, (ii) evidencing the deferred purchase price of newly
acquired property or incurred to finance the acquisition of equipment of the Company and its
Subsidiaries (pursuant to purchase money mortgages or otherwise, whether owed to the seller
or a third party) used in the ordinary course of business of the Company and its
Subsidiaries (provided that such Indebtedness is incurred within 90 days of the
acquisition of such property) and (iii) in respect of Capitalized Lease Liabilities;
provided that the aggregate amount of all Indebtedness outstanding pursuant to this
clause shall not at any time exceed $25,000,000;

(f) Indebtedness of any Subsidiary owing to the Company or any other Subsidiary;

(g) Indebtedness of a Person existing at the time such Person became a Subsidiary of
the Company, but only if such Indebtedness was not created or incurred in contemplation of
such Person becoming a Subsidiary and the aggregate outstanding amount of all Indebtedness
existing pursuant to this clause does not exceed $10,000,000 at any time;

(h) Indebtedness of the Company consisting of notes or debentures issued by the Company
under the Indentures in an aggregate principal amount not to exceed $355,000,000, as such
amount is reduced on or after the Closing Date;

(i) Indebtedness incurred under the Permitted Receivables Programs;

(j) Indebtedness of Foreign Subsidiaries in connection with local lines of credit in an
aggregate amount not to exceed $25,000,000;

(k) Indebtedness of the Company and its Subsidiaries in connection with credit cards
issued to employees in the ordinary course of business;

(l) Indebtedness in respect of Hedging Obligations entered into in the ordinary course
of business and not for speculative purposes; and

(m) other Indebtedness of the Company and its Subsidiaries in an aggregate amount at
any time outstanding not to exceed $20,000,000;

provided that no Indebtedness otherwise permitted by clauses (c), (e),
(g) or (m) shall be assumed, created or otherwise incurred if a Default has
occurred and is then continuing or would result therefrom.

SECTION 7.2.3 Liens. The Company will not, and will not permit any of its
Subsidiaries to, create, incur, assume or permit to exist any Lien upon any of its property
(including Capital Securities of any Person), revenues or assets, whether now owned or hereafter
acquired, except:

(a) Liens securing payment of the Obligations, the Indebtedness incurred under the
Indentures and securing Indebtedness of the type described in clauses (j),
(k) or (l) of Section 7.2.2, which are secured on a pari passu basis
in accordance with the Collateral Sharing Agreement and the other Loan Documents;

(b) until the Closing Date, Liens securing payment of Indebtedness of the type
described in clause (b) of Section 7.2.2;

(c) Liens existing as of the Closing Date and disclosed in Item 7.2.3(c) of the
Disclosure Schedule securing Indebtedness described in clause (c) of
Section 7.2.2, and refinancings of such Indebtedness; provided that no such
Lien shall encumber any additional property and the amount of Indebtedness secured by such
Lien is not increased from that existing on the Closing Date (as such Indebtedness may have
been permanently reduced subsequent to the Closing Date);

(d) Liens securing Indebtedness of the type permitted under clause (e) of
Section 7.2.2; provided that (i) such Lien is granted within 90 days after
such Indebtedness is incurred, (ii) the Indebtedness secured thereby does not exceed 80% of
the lesser of the cost or the fair market value of the applicable property, improvements or
equipment at the time of such acquisition (or construction) and (iii) such Lien secures only
the assets that are the subject of the Indebtedness referred to in such clause;

(e) Liens securing Indebtedness permitted by clause (g) of
Section 7.2.2; provided that such Liens existed prior to such Person
becoming a Subsidiary, were not created in anticipation thereof and attach only to specific
tangible assets of such Person (and not assets of such Person generally);

(f) Liens in favor of carriers, warehousemen, mechanics, materialmen and landlords
granted in the ordinary course of business for amounts not overdue or being diligently
contested in good faith by appropriate proceedings and for which adequate reserves in
accordance with GAAP shall have been set aside on its books;

(g) Liens incurred or deposits made in the ordinary course of business in connection
with worker’s compensation, unemployment insurance or other forms of governmental insurance
or benefits, or to secure performance of tenders, statutory obligations, bids, leases or
other similar obligations (other than for borrowed money) entered into in the ordinary
course of business or to secure obligations on surety and appeal bonds or performance bonds;

(h) judgment Liens in existence for less than 45 days after the entry thereof or with
respect to which execution has been stayed or the payment of which is covered in full
(subject to a customary deductible) by insurance maintained with responsible insurance
companies and which do not otherwise result in an Event of Default under
Section 8.1.6;

(i) easements, rights-of-way, zoning restrictions, minor defects or irregularities in
title and other similar encumbrances not interfering in any material respect with the value
or use of the property to which such Lien is attached;

(j) Liens for Taxes not at the time delinquent or thereafter payable without penalty or
being diligently contested in good faith by appropriate proceedings and for which adequate
reserves in accordance with GAAP shall have been set aside on its books;

(k) Liens on inventory that has been chemically combined with precious metals inventory
or inventories so long as the aggregate Indebtedness secured thereby does not exceed
$15,000,000, and Liens on consigned metals or leased metals that are held as Inventory by an
Obligor but for which title has not yet transferred to such Obligor;

(l) Liens on the assets of the Company, Ferro Electronic or an SPV securing
Indebtedness permitted by clause (i) of Section 7.2.2; and

(m) Liens (not otherwise permitted hereunder) securing obligations not exceeding
$5,000,000 in the aggregate at any time outstanding; provided that such Liens are
limited to assets other than accounts receivable.

SECTION 7.2.4 Financial Condition and Operations. The Company will not permit any of
the events set forth below to occur.

(a) The Company will not permit the Leverage Ratio as of the last day of any Fiscal Quarter
occurring during any period set forth below to be greater than the ratio set forth opposite such
period:

	 	 	 
	Period	 	Leverage Ratio
	Closing Date through and including 9/30/06

	 	4.50:1.00
	 
	 	 
	10/1/06 through and including 12/31/06

	 	4.25:1.00
	 
	 	 
	1/1/07 through and including 6/30/07

	 	4.00:1.00
	 
	 	 
	7/1/07 through and including 12/31/07

	 	3.75:1.00
	 
	 	 
	1/1/08 through and including 12/31/08

	 	3.50:1.00
	 
	 	 
	1/1/09 and thereafter

	 	3.25:1.00

(b) The Company will not permit the Fixed Charge Coverage Ratio as of the last day of any
Fiscal Quarter occurring during any period set forth below to be less than the ratio set forth
opposite such period:

	 	 	 
	 	 	Fixed Charge
	Period	 	Coverage Ratio
	Effective Date through and including 12/31/06

	 	1.15:1.00
	 
	 	 
	1/1/07 through and including 6/30/07

	 	1.20:1.00
	 
	 	 
	7/1/07 through and including 12/31/07

	 	1.25:1.00
	 
	 	 
	1/1/08 through and including 6/30/08

	 	1.35:1.00
	 
	 	 
	7/1/08 through and including 12/31/08

	 	1.40:1.00
	 
	 	 
	1/1/09 through and including 12/31/09

	 	1.45:1.00
	 
	 	 
	1/1/10 and thereafter

	 	1.50:1.00

SECTION 7.2.5 Investments. The Company will not, and will not permit any of its
Subsidiaries to, purchase, make, incur, assume or permit to exist any Investment in any other
Person, except:

(a) Investments existing on the Closing Date and identified in Item 7.2.5(a) of
the Disclosure Schedule;

(b) Cash Equivalent Investments;

(c) Investments received in connection with the bankruptcy or reorganization of, or
settlement of delinquent accounts and disputes with, customers and suppliers, in each case
in the ordinary course of business;

(d) Investments consisting of any deferred portion of the sales price received by the
Company or any Subsidiary in connection with any Disposition permitted under
Section 7.2.8;

(e) Investments (i) by the Company in any Subsidiaries or by any Subsidiary in other
Subsidiaries or (ii) by any Subsidiary in the Company;

(f) Investments constituting (i) accounts receivable arising, (ii) trade debt granted,
or (iii) deposits made in connection with the purchase price of goods or services, in each
case in the ordinary course of business;

(g) Investments by way of the acquisition of Capital Securities constituting Permitted
Acquisitions permitted by clause (b) of Section 7.2.7; and

(h) other Investments in an amount not to exceed $20,000,000 over the term of this
Agreement;

provided that

(i) any Investment which when made complies with the requirements of the definition of
the term “Cash Equivalent Investment” may continue to be held notwithstanding that such
Investment if made thereafter would not comply with such requirements; and

(j) no Investment otherwise permitted by clauses (g) or (h) shall be
permitted to be made if any Default has occurred and is continuing or would result
therefrom.

SECTION 7.2.6 Restricted Payments, etc. The Company will not, and will not permit any
of its Subsidiaries to, declare or make a Restricted Payment, or make any deposit for any
Restricted Payment, other than (a) Restricted Payments made by Subsidiaries to the Company, wholly
owned Subsidiaries or joint venture partners and (b) Restricted Payments consisting of dividends on
the Company’s Capital Securities so long as no Default has occurred and is continuing or would be
caused thereby.

SECTION 7.2.7 Consolidation, Merger; Permitted Acquisitions, etc. Except in
connection with a Disposition permitted by Section 7.2.8, the Company will not, and will
not permit any of its Subsidiaries to, liquidate or dissolve, consolidate with, or merge into or
with, any other Person, or purchase or otherwise acquire all or substantially all of the assets of
any Person (or any division or line of business thereof), except:

(a) any Subsidiary may liquidate or dissolve voluntarily into, and may merge with and
into, the Company or any other Subsidiary (provided that a Guarantor may only
liquidate or dissolve into, or merge with and into, the Company or another Guarantor), and
the assets or Capital Securities of any Subsidiary may be purchased or otherwise acquired by
the Company or any other Subsidiary (provided that the assets or Capital Securities
of any Guarantor may only be purchased or otherwise acquired by any Borrower or another
Guarantor); provided further that in no event shall any Subsidiary
consolidate with or merge with and into any other Subsidiary unless after giving effect
thereto, the Collateral Agent shall have a perfected pledge of, and security interest in and
to, at least the same percentage of the issued and outstanding interests of Capital
Securities (on a fully diluted basis) and other assets of the surviving Person as the
Collateral Agent had immediately prior to such merger or consolidation in form and substance
satisfactory to the Agent and their respective counsel, pursuant to such documentation and
opinions as shall be necessary in the opinion of the Agents to create, perfect or maintain
the collateral position of the Secured Parties therein; and

(b) so long as no Default has occurred and is continuing or would occur after giving
effect thereto, the Company or any of its Subsidiaries may, at any time following the SEC
Filing Date, purchase all or substantially all of the assets of any Person (or any division
or line of business thereof), or acquire such Person by merger or otherwise, in each case,
if such purchase or acquisition constitutes a Permitted Acquisition and the amount expended
in connection with such transaction does not exceed $50,000,000 in any Fiscal Year (except
that any amounts unused in any Fiscal Year may be carried over to subsequent Fiscal Years)
and $200,000,000 over the term of this Agreement.

SECTION 7.2.8 Permitted Dispositions. The Company will not, and will not permit any
of its Subsidiaries to, Dispose of any of the Company’s or such Subsidiaries’ assets (including
accounts receivable and Capital Securities of Subsidiaries) to any Person in one transaction or
series of transactions unless such Disposition is:

(a) inventory or obsolete, damaged, worn out or surplus property Disposed of in the
ordinary course of its business;

(b) permitted by Section 7.2.7;

(c) (i) for fair market value and the consideration received consists of no less than
80% in cash, (ii) the Net Disposition Proceeds received from such Disposition, together with
the Net Disposition Proceeds of all other assets Disposed of pursuant to this clause in any
Fiscal Year, does not exceed (individually or in the aggregate) $10,000,000 in such Fiscal
Year and (iii) the Net Disposition Proceeds from such Disposition are applied pursuant to
Sections 3.1.1 and 3.1.2;

(d) a Disposition of assets by (i) the Company to an Obligor that guarantees all of the
Obligations, (ii) an Obligor that guarantees all of the Obligations to the Company or
another Obligor that guarantees all of the Obligations, (iii) a Designated Borrower to an
Obligor that guarantees all of the Obligations of such Designated Borrower or by such
Obligor to such Designated Borrower;

(e) made by the Company or Ferro Electronic to any Person who is not a Subsidiary of
the Company or is an SPV pursuant to the Permitted Receivables Programs;

(f) a Specified Disposition; or

(g) a closing or cessation of use of the Niagara Falls Property.

SECTION 7.2.9 Modification of Certain Agreements. The Company will not, and will not
permit any of its Subsidiaries to, consent to any amendment, supplement, waiver or other
modification of, or enter into any forbearance from exercising any rights with respect to the terms
or provisions contained in:

(a) any of the Material Debt Documents, other than any amendment, supplement, waiver or
modification which (i) extends the date or reduces the amount of any required repayment,
prepayment or redemption of the principal of such Material Debt, (ii) reduces the rate or
extends the date for payment of principal, interest, premium (if any) or fees payable on
such Material Debt or (iii) makes the covenants, events of default or remedies in such
Material Debt Documents less restrictive on the Company or its Subsidiaries, as the case may
be; or

(b) the Organic Documents of the Company or any of its Subsidiaries, if the result
would have an adverse effect on the rights or remedies of any Secured Party.

SECTION 7.2.10 Transactions with Affiliates. The Company will not, and will not
permit any of its Subsidiaries to, enter into or cause or permit to exist any arrangement,
transaction or contract (including for the purchase, lease or exchange of property or the rendering
of services) with any of its other Affiliates, unless such arrangement, transaction or contract
(i) is on fair and reasonable terms no less favorable to the Company or such Subsidiary than it
could obtain in an arm’s-length transaction with a Person that is not an Affiliate and (ii) is of
the kind which would be entered into by a prudent Person in the position of the Company or such
Subsidiary with a Person that is not one of its Affiliates.

SECTION 7.2.11 Restrictive Agreements, etc. The Company will not, and will not permit
any of its Subsidiaries to, enter into any agreement prohibiting:

(a) the creation or assumption of any Lien upon its properties, revenues or assets,
whether now owned or hereafter acquired;

(b) the ability of any Obligor to amend or otherwise modify any Loan Document; or

(c) the ability of any Subsidiary to make any payments, directly or indirectly, to the
Company, including by way of dividends, advances, repayments of loans, reimbursements of
management and other intercompany charges, expenses and accruals or other returns on
investments.

The foregoing prohibitions shall not apply to restrictions contained (i) in any Loan Document,
(ii) in the case of clause (a), any agreement governing any Indebtedness permitted by
clause (e) of Section 7.2.2 as to the assets financed with the proceeds of such
Indebtedness, or (iii) in the case of clauses (a) and (c), any agreement of a
Foreign Subsidiary governing the Indebtedness permitted by clause (f)(i) of
Section 7.2.2.

SECTION 7.2.12 Sale and Leaseback. The Company will not, and will not permit any of
its Subsidiaries to, directly or indirectly enter into any agreement or arrangement providing for
the sale or transfer by it of any property (now owned or hereafter acquired) to a Person and the
subsequent lease or rental of such property or other similar property from such Person except for
agreements providing for the sale or transfer of property with a value not exceeding $15,000,000 in
the aggregate over the term of this agreement, as long as the lease or rental thereof is entered
into within 90 days of such sale or transfer.

ARTICLE VIII

EVENTS OF DEFAULT

SECTION 8.1 Listing of Events of Default. Each of the following events or occurrences
described in this Article shall constitute an “Event of Default”.

SECTION 8.1.1 Non-Payment of Obligations. The Borrowers shall default in the payment
or prepayment when due of:

(a) any principal of any Loan, or any Reimbursement Obligation or any deposit of cash
for collateral purposes pursuant to Section 2.7.4; or

(b) any interest on any Loan or any fee described in Article III or any other
monetary Obligation, and such default shall continue unremedied for a period of three
Business Days after such amount was due.

SECTION 8.1.2 Breach of Warranty. Any representation or warranty of any Obligor made
or deemed to be made in any Loan Document (including any certificates delivered pursuant to
Article V) is or shall be incorrect when made or deemed to have been made in any material
respect.

SECTION 8.1.3 Non-Performance of Certain Covenants and Obligations. The Borrowers
shall default in the due performance or observance of any of its obligations under
Section 7.1.1, Section 7.1.7, Section 7.1.9 or Section 7.2.

SECTION 8.1.4 Non-Performance of Other Covenants and Obligations. Any Obligor shall
default in the due performance and observance of any other agreement contained in any Loan Document
executed by it, and such default shall continue unremedied for a period of 30 days after the
earlier to occur of (i) notice thereof given to the Company by any Agent or any Lender or (ii) the
date on which any Obligor has knowledge of such default.

SECTION 8.1.5 Default on Other Indebtedness. A default shall occur in the payment of
any amount when due (subject to any applicable grace period), whether by acceleration or otherwise,
of any principal or stated amount of, or interest or fees on, any Indebtedness (other than
Indebtedness described in Section 8.1.1) of the Company or any of its Subsidiaries or any
other Obligor having a principal or stated amount, individually or in the aggregate, in excess of
$7,500,000 (or the Dollar Equivalent thereof), or a default shall occur in the performance or
observance of any obligation or condition with respect to such Indebtedness if the effect of such
default is to accelerate the maturity of any such Indebtedness or such default shall continue
unremedied for any applicable period of time sufficient to permit the holder or holders of such
Indebtedness, or any trustee or agent for such holders, to cause or declare such Indebtedness to
become due and payable or to require such Indebtedness to be prepaid, redeemed, purchased or
defeased, or require an offer to purchase or defease such Indebtedness to be made, prior to its
expressed maturity; provided that a default under any Indebtedness issued under the
Indentures resulting in an acceleration of such Indebtedness thereunder shall not constitute an
Event of Default under this Section 8.1.5 prior to the termination of the Term Loan
Commitments.

SECTION 8.1.6 Judgments. Any judgment or order for the payment of money individually
or in the aggregate in excess of $7,500,000 (or the Dollar Equivalent thereof) (exclusive of any
amounts fully covered by insurance (less any applicable deductible) and as to which the insurer has
acknowledged its responsibility to cover such judgment or order) shall be rendered against the
Company or any of its Subsidiaries or any other Obligor and such judgment shall not have been
vacated or discharged or stayed or bonded pending appeal within 30 days after the entry thereof or
enforcement proceedings shall have been commenced by any creditor upon such judgment or order.

SECTION 8.1.7 Pension Plans. Any of the following events shall occur with respect to
any Pension Plan:

(a) the institution of any steps by the Company, any member of its Controlled Group or
any other Person to terminate a Pension Plan if, as a result of such termination, the
Company or any such member could be required to make a contribution to such Pension Plan, or
could reasonably expect to incur a liability or obligation to such Pension Plan, in excess
of $5,000,000; or

(b) a contribution failure occurs with respect to any Pension Plan sufficient to give
rise to a Lien under section 302(f) of ERISA.

SECTION 8.1.8 Change in Control. Any Change in Control shall occur.

SECTION 8.1.9 Bankruptcy, Insolvency, etc. The Company, any of its Subsidiaries or
any other Obligor shall:

(a) become insolvent or generally fail to pay, or admit in writing its inability or
unwillingness generally to pay, debts as they become due;

(b) apply for, consent to, or acquiesce in the appointment of a trustee, receiver,
sequestrator or other custodian for any substantial part of the property of any thereof, or
make a general assignment for the benefit of creditors;

(c) in the absence of such application, consent or acquiescence in or permit or suffer
to exist the appointment of a trustee, receiver, sequestrator or other custodian for a
substantial part of the property of any thereof, and such trustee, receiver, sequestrator or
other custodian shall not be discharged within 60 days; provided that the Company,
each Subsidiary and each other Obligor hereby expressly authorizes each Secured Party to
appear in any court conducting any relevant proceeding during such 60-day period to
preserve, protect and defend their rights under the Loan Documents;

(d) permit or suffer to exist the commencement of any bankruptcy, reorganization, debt
arrangement or other case or proceeding under any bankruptcy or insolvency law or any
dissolution, winding up or liquidation proceeding, in respect thereof, and, if any such case
or proceeding is not commenced by the Company, any Subsidiary or any Obligor, such case or
proceeding shall be consented to or acquiesced in by the Company, such Subsidiary or such
Obligor, as the case may be, or shall result in the entry of an order for relief or shall
remain for 60 days undismissed; provided that the Company, each Subsidiary and each
Obligor hereby expressly authorizes each Secured Party to appear in any court conducting any
such case or proceeding during such 60-day period to preserve, protect and defend their
rights under the Loan Documents; or

(e) take any action authorizing, or in furtherance of, any of the foregoing.

SECTION 8.1.10 Impairment of Security, etc. Any Loan Document or any Lien granted
thereunder shall (except in accordance with its terms), in whole or in part, terminate, cease to be
effective or cease to be the legally valid, binding and enforceable obligation of any Obligor party
thereto; any Obligor or any other party shall, directly or indirectly, contest in any manner such
effectiveness, validity, binding nature or enforceability; or, except as permitted under any Loan
Document, any Lien securing any Obligation shall, in whole or in part, cease to be a perfected
first priority Lien.

SECTION 8.2 Action if Bankruptcy. If any Event of Default described in
clauses (a) through (d) of Section 8.1.9 with respect to the Company shall
occur, the Commitments (if not theretofore terminated) shall automatically terminate and the
outstanding principal amount of all outstanding Loans and all other Obligations (including
Reimbursement Obligations) shall automatically be and become immediately due and payable, without
notice or demand to any Person and each Obligor shall automatically and immediately be obligated to
Cash Collateralize all Letter of Credit Outstandings.

SECTION 8.3 Action if Other Event of Default. If any Event of Default (other than any
Event of Default described in clauses (a) through (d) of Section 8.1.9 with
respect to the Borrowers) shall occur for any reason, whether voluntary or involuntary, and be
continuing, the Administrative Agents, upon the direction of the Required Lenders, shall by notice
to the Company declare all or any portion of the outstanding principal amount of the Loans and
other Obligations (including Reimbursement Obligations) to be due and payable and/or the
Commitments (if not theretofore terminated) to be terminated, whereupon the full unpaid amount of
such Loans and other Obligations which shall be so declared due and payable shall be and become
immediately due and payable, without further notice, demand or presentment, and/or, as the case may
be, the Commitments shall terminate and the Borrowers shall automatically and immediately be
obligated to Cash Collateralize all Letter of Credit Outstandings.

ARTICLE IX

THE AGENTS

SECTION 9.1 Actions. Each Revolving Loan Lender hereby appoints National City as its
Revolving Loan Administrative Agent under and for purposes of each Loan Document, each Term Loan
Lender hereby appoints CS as its Term Loan Administrative Agent under and for purposes of each Loan
Document, and each Lender hereby appoints National City as its Collateral Agent under and for
purposes of each Loan Document. Each Lender authorizes such Agent to act on behalf of such Lender
under each Loan Document and, in the absence of other written instructions from the Required
Lenders received from time to time by such Agent (with respect to which each Agent agrees that it
will comply, except as otherwise provided in this Section or as otherwise advised by counsel in
order to avoid contravention of applicable law), to exercise such powers hereunder and thereunder
as are specifically delegated to or required of such Agent by the terms hereof and thereof,
together with such powers as may be incidental thereto (including the release of Liens on assets
Disposed of in accordance with the terms of the Loan Documents). Each Lender hereby indemnifies
(which indemnity shall survive any termination of this Agreement) each Agent, pro
rata according to such Lender’s proportionate Total Exposure Amount, from and against any
and all liabilities, obligations, losses, damages, claims, costs or expenses of any kind or nature
whatsoever which may at any time be imposed on, incurred by, or asserted against, such Agent in any
way relating to or arising out of any Loan Document, (including attorneys’ fees), and as to which
such Administrative Agent is not reimbursed by the Borrowers; provided that no Lender shall
be liable for the payment of any portion of such liabilities, obligations, losses, damages, claims,
costs or expenses which are determined by a court of competent jurisdiction in a final proceeding
to have resulted from such Agent’s gross negligence or willful misconduct. No Agent shall be
required to take any action under any Loan Document, or to prosecute or defend any suit in respect
of any Loan Document, unless it is indemnified hereunder to its satisfaction. If any indemnity in
favor of any Agent shall be or become, in such Agent’s determination, inadequate, Agent may call
for additional indemnification from the Lenders and cease to do the acts indemnified against
hereunder until such additional indemnity is given.

SECTION 9.2 Funding Reliance, etc.

(a) Unless the applicable Administrative Agent shall have been notified in writing by
any Lender by 3:00 p.m. on the Business Day prior to a Borrowing that such Lender will not
make available the amount which would constitute its Percentage of such Borrowing on the
date specified therefor, such Administrative Agent may assume that such Lender has made such
amount available to such Administrative Agent and, in reliance upon such assumption, make
available to the Borrowers a corresponding amount. If and to the extent that such Lender
shall not have made such amount available to such Administrative Agent, such Lender and the
Borrowers severally agree to repay such Administrative Agent forthwith on demand such
corresponding amount together with interest thereon, for each day from the date such
Administrative Agent made such amount available to the Borrowers to the date such amount is
repaid to such Administrative Agent, at the interest rate applicable at the time to Loans
comprising such Borrowing (in the case of the Borrowers) and (in the case of a Lender), at
the Federal Funds Rate (for the first two Business Days after which such amount has not been
repaid), and thereafter at the interest rate applicable to Loans comprising such Borrowing.

(b) Unless the applicable Administrative Agent shall have been notified in writing
prior to the time at which any payment hereunder is due to such Administrative Agents for
the account of the Secured Parties hereunder that the Borrowers will not make such payment,
such Administrative Agent may assume that the Borrowers have made such payment on such date
in accordance herewith and may, in reliance upon such assumption, distribute to the Secured
Parties its share of the amount due. In such event, if the Borrowers have not in fact made
such payment, then each of the Secured Parties severally agrees to repay to the applicable
Administrative Agent forthwith on demand the amount so distributed to such Secured Party, in
immediately available funds with interest thereon, for each day from and including the date
such amount is distributed to it to but excluding the date of payment to such Administrative
Agent, at the Federal Funds Rate (for the first two Business Days after which such amount
has not been repaid), and thereafter at the interest rate applicable to the Loans which were
repaid.

SECTION 9.3 Exculpation. No Agent nor any of its directors, officers, employees or
agents shall be liable to any Secured Party for any action taken or omitted to be taken by it under
any Loan Document, or in connection therewith, except for its own willful misconduct or gross
negligence, nor responsible for any recitals or warranties herein or therein, nor for the
effectiveness, enforceability, validity or due execution of any Loan Document, nor for the
creation, perfection or priority of any Liens purported to be created by any of the Loan Documents,
or the validity, genuineness, enforceability, existence, value or sufficiency of any collateral
security, nor to make any inquiry respecting the performance by any Obligor of its Obligations.
Any such inquiry which may be made by an Agent shall not obligate it to make any further inquiry or
to take any action. Each Agent shall be entitled to rely upon advice of counsel concerning legal
matters and upon any notice, consent, certificate, statement or writing which such Agent believes
to be genuine and to have been presented by a proper Person.

SECTION 9.4 Successor. Any of the Agents may resign as such at any time upon at least
30 days’ prior notice to the other Agents, the Borrowers and all Lenders. If an Agent at any time
shall resign, the Required Lenders may appoint another Lender as a successor Agent which shall
thereupon become the applicable Agent hereunder. If no successor Agent shall have been so
appointed by the Required Lenders, and shall have accepted such appointment, within 30 days after
the retiring Agent’s giving notice of resignation, then such retiring Agent may, on behalf of the
Lenders, appoint a successor Agent, which shall be one of the Lenders or a commercial banking
institution organized under the laws of the United States (or any State thereof) or a United States
branch or agency of a commercial banking institution, and having a combined capital and surplus of
at least $250,000,000; provided that if such retiring Agent is unable to find a commercial
banking institution which is willing to accept such appointment and which meets the qualifications
set forth in above, the retiring Agent’s resignation shall nevertheless thereupon become effective
and the Lenders shall assume and perform all of the duties of the Agent hereunder until such time,
if any, as the Required Lenders appoint a successor as provided for above. Upon the acceptance of
any appointment as an Agent hereunder by a successor Agent, such successor Agent shall be entitled
to receive from the retiring Agent such documents of transfer and assignment as such successor
Agent may reasonably request, and shall thereupon succeed to and become vested with all rights,
powers, privileges and duties of the retiring Agent, and the retiring Administrative Agent shall be
discharged from its duties and obligations under the Loan Documents. After any retiring Agent’s
resignation hereunder as the an Agent, the provisions of this Article shall inure to its benefit as
to any actions taken or omitted to be taken by it while it was an Agent under the Loan Documents,
and Section 10.3 and Section 10.4 shall continue to inure to its benefit.

SECTION 9.5 Loans by the Agents. The Agents shall have the same rights and powers
with respect to (a) the Credit Extensions made by it or any of its Affiliates, and (b) the Notes
held by it or any of its Affiliates as any other Lender and may exercise the same as if it were not
an Agent. CS, National City and their Affiliates may accept deposits from, lend money to, and
generally engage in any kind of business with the Borrowers or any Subsidiary or Affiliate of the
Borrowers as if such Agent were not an Agent hereunder.

SECTION 9.6 Credit Decisions. Each Lender acknowledges that it has, independently of
each Agent and each other Lender, and based on such Lender’s review of the financial information of
the Borrowers (and hereby acknowledges that it has not received copies of the Company’s audited
financial statements for Fiscal Year 2005 and is making Loans hereunder without reliance thereon),
the Loan Documents (the terms and provisions of which being satisfactory to such Lender) and such
other documents, information and investigations as such Lender has deemed appropriate, made its own
credit decision to extend its Commitments. Each Lender also acknowledges that it will,
independently of each Agent and each other Lender, and based on such other documents, information
and investigations as it shall deem appropriate at any time, continue to make its own credit
decisions as to exercising or not exercising from time to time any rights and privileges available
to it under the Loan Documents. Each Lender acknowledges that the Obligations are secured by Liens
that are pari passu with the Liens securing the Indebtedness and other obligations
under the Indentures.

SECTION 9.7 Copies, etc. Each Administrative Agent shall give prompt notice to each
Lender of each notice or request required or permitted to be given to such Administrative Agent by
the Borrowers pursuant to the terms of the Loan Documents (unless concurrently delivered to the
Lenders by the Borrower). Each Administrative Agent will distribute to each Lender each document
or instrument received for its account and copies of all other communications received by such
Administrative Agent from the Borrowers for distribution to the Lenders by such Administrative
Agent in accordance with the terms of the Loan Documents.

SECTION 9.8 Reliance by the Agents. The Agents shall be entitled to rely upon any
certification, notice or other communication (including any thereof by telephone, telecopy,
telegram or cable) believed by it to be genuine and correct and to have been signed or sent by or
on behalf of the proper Person, and upon advice and statements of legal counsel, independent
accountants and other experts selected by such Agent. As to any matters not expressly provided for
by the Loan Documents, the Agents shall in all cases be fully protected in acting, or in refraining
from acting, thereunder in accordance with instructions given by the Required Lenders or all of the
Lenders as is required in such circumstance, and such instructions of such Lenders and any action
taken or failure to act pursuant thereto shall be binding on all Secured Parties. For purposes of
applying amounts in accordance with this Section, the Agents shall be entitled to rely upon any
Secured Party that has entered into a Rate Protection Agreement with any Obligor for a
determination (which such Secured Party agrees to provide or cause to be provided upon request of
the Administrative Agent) of the outstanding Obligations owed to such Secured Party under any Rate
Protection Agreement. Unless it has actual knowledge evidenced by way of written notice from any
such Secured Party and the Company to the contrary, the Administrative Agents, in acting in such
capacity under the Loan Documents, shall be entitled to assume that no Rate Protection Agreements
or Obligations in respect thereof are in existence or outstanding between any Secured Party and any
Obligor.

SECTION 9.9 Defaults. No Agent shall be deemed to have knowledge or notice of the
occurrence of a Default unless an Administrative Agent has received a written notice from a Lender
or the Company specifying such Default and stating that such notice is a “Notice of Default”. In
the event that an Administrative Agent receives such a notice of the occurrence of a Default, such
Administrative Agent shall give prompt notice thereof to the Lenders. The Agents shall (subject to
Section 10.1 and the Collateral Sharing Agreement) take such action with respect to such
Default as shall be directed by the Required Lenders; provided that subject to the
Collateral Sharing Agreement, unless and until the Agents shall have received such directions, the
Agents may (but shall not be obligated to) take such action, or refrain from taking such action,
with respect to such Default as it shall deem advisable in the best interest of the Secured Parties
except to the extent that this Agreement expressly requires that such action be taken, or not be
taken, only with the consent or upon the authorization of the Required Lenders or all Lenders.

SECTION 9.10 Posting of Approved Electronic Communications.

(a) The Borrowers hereby agree, unless directed otherwise by an Administrative Agent or
unless the electronic mail address referred to below has not been provided by such
Administrative Agent to the Borrowers, that it will, or will cause its Subsidiaries to,
provide to such Administrative Agent all information, documents and other materials that it
is obligated to furnish to such Administrative Agent pursuant to the Loan Documents or to
the Lenders under Section 7.1.1, including all notices, requests, financial
statements, financial and other reports, certificates and other information materials, but
excluding any such communication that (i) is or relates to a Borrowing Request, a
Continuation/Conversion Notice or an Issuance Request, (ii) relates to the payment of any
principal or other amount due under this Agreement prior to the scheduled date therefor,
(iii) provides notice of any Default under this Agreement or any other Loan Document or (iv)
is required to be delivered to satisfy any condition precedent to the effectiveness of this
Agreement and/or any Borrowing or other extension of credit hereunder (all such non-excluded
communications being referred to herein collectively as “Communications”), by
transmitting the Communications in an electronic/soft medium that is properly identified in
a format acceptable to the Administrative Agents to an electronic mail address as directed
by such Administrative Agent. In addition, the Company agrees, and agrees to cause its
Subsidiaries, to continue to provide the Communications to the Administrative Agents or the
Lenders, as the case may be, in the manner specified in the Loan Documents but only to the
extent requested by such Administrative Agent.

(b) The Borrowers further agree that the Administrative Agents may make the
Communications available to the Lenders by posting the Communications on Intralinks or a
substantially similar electronic transmission system (the “Platform”).

(c) THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”. THE INDEMNIFIED PARTIES DO
NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE
PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO
WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE INDEMNIFIED PARTIES IN CONNECTION
WITH THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL THE INDEMNIFIED PARTIES HAVE ANY
LIABILITY TO ANY OBLIGOR, ANY LENDER OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR
NOT BASED ON STRICT LIABILITY AND INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR
CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING
OUT OF ANY OBLIGOR’S OR THE ADMINISTRATIVE AGENTS’ TRANSMISSION OF COMMUNICATIONS THROUGH
THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY INDEMNIFIED PARTY IS FOUND IN A
FINAL RULING BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH
INDEMNIFIED PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

(d) Each Administrative Agent agrees that the receipt of the Communications by such
Administrative Agent at its e-mail address delivered to the Borrowers shall constitute
effective delivery of the Communications to such Administrative Agent for purposes of the
Loan Documents. Each Lender agrees that receipt of notice to it (as provided in the next
sentence) specifying that the Communications have been posted to the Platform shall
constitute effective delivery of the Communications to such Lender for purposes of the Loan
Documents. Each Lender agrees to notify the applicable Administrative Agent in writing
(including by electronic communication) from time to time of such Lender’s e-mail address to
which the foregoing notice may be sent by electronic transmission and that the foregoing
notice may be sent to such e-mail address.

(e) Nothing herein shall prejudice the right of the Administrative Agents or any Lender
to give any notice or other communication pursuant to any Loan Document in any other manner
specified in such Loan Document.

SECTION 9.11 Joint Lead Arrangers and Documentation Agent. Notwithstanding anything
else to the contrary contained in this Agreement or any other Loan Document, the Joint Lead
Arrangers, Joint Bookrunners and the Documentation Agent, in their respective capacities as such,
each in such capacity, shall have no duties or responsibilities under this Agreement or any other
Loan Document nor any fiduciary relationship with any Lender, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this Agreement or otherwise
exist against such Person in such capacity. Each Joint Lead Arranger shall at all times have the
right to receive current copies of the Registers and any other information relating to the Lenders
and the Loans that they may request from the Administrative Agents.

ARTICLE X

MISCELLANEOUS PROVISIONS

SECTION 10.1 Waivers, Amendments, etc. The provisions of each Loan Document (other
than Rate Protection Agreements, Letters of Credit or the Fee Letter, which shall be modified only
in accordance with their respective terms) may from time to time be amended, modified or waived, if
such amendment, modification or waiver is in writing and consented to by the Company and the
Required Lenders; provided that no such amendment, modification or waiver shall:

(a) modify clause (b) of Section 4.7 or Section 4.8 (as it
relates to sharing of payments) or this Section, in each case, without the consent of all
Lenders;

(b) increase the aggregate amount of any Credit Extensions required to be made by a
Lender pursuant to its Commitments, extend the final Commitment Termination Date of Credit
Extensions made (or participated in) by a Lender or extend the final Stated Maturity Date
for any Lender’s Loan, in each case without the consent of such Lender (it being agreed,
however, that any vote to rescind any acceleration made pursuant to Section 8.2 and
Section 8.3 of amounts owing with respect to the Loans and other Obligations shall
only require the vote of the Required Lenders);

(c) reduce (by way of forgiveness), the principal amount of or reduce the rate of
interest on any Lender’s Loan, reduce any fees described in Article III payable to
any Lender or extend the date on which interest or fees are payable in respect of such
Lender’s Loans, in each case without the consent of such Lender (provided that the
vote of Required Lenders shall be sufficient to waive the payment, or reduce the increased
portion, of interest accruing under Section 3.2.2);

(d) reduce the percentage set forth in the definition of “Required Lenders” or modify
any requirement hereunder that any particular action be taken by all Lenders without the
consent of all Lenders;

(e) increase the Stated Amount of any Letter of Credit unless consented to by the
Issuer of such Letter of Credit;

(f) except as otherwise expressly provided in a Loan Document, release (i) the
Borrowers from their Obligations under the Loan Documents or any Guarantor from its
obligations under a Guaranty or (ii) all or substantially all of the collateral under the
Loan Documents, in each case without the consent of all Lenders;

(g) amend, modify or waive after the Closing Date any condition precedent set forth in
Section 5.2 (or any Default to the extent such amendment, waiver or other
modification would enable the Borrowers to satisfy clause (b) of Section
5.2.1) unless consented to by the Required Revolving Lenders; or

(h) affect adversely the interests, rights or obligations of any Agent (in its capacity
as such Agent), any Issuer (in its capacity as Issuer), or the Swing Line Lender (in its
capacity as Swing Line Lender) unless consented to by such Person, as the case may be.

No failure or delay on the part of any Secured Party in exercising any power or right under any
Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any
such power or right preclude any other or further exercise thereof or the exercise of any other
power or right. No notice to or demand on any Obligor in any case shall entitle it to any notice
or demand in similar or other circumstances. No waiver or approval by any Secured Party under any
Loan Document shall, except as may be otherwise stated in such waiver or approval, be applicable to
subsequent transactions. No waiver or approval hereunder shall require any similar or dissimilar
waiver or approval thereafter to be granted hereunder.

SECTION 10.2 Notices; Time. Except as otherwise provided in clause (d) of
Section 9.10, All notices and other communications provided under each Loan Document shall
be in writing or by facsimile and addressed, delivered or transmitted, if to the Borrowers, the
Agents, a Lender or an Issuer, to the applicable Person at its address or facsimile number set
forth on Schedule II hereto or set forth in the Lender Assignment Agreement, or at such
other address or facsimile number as may be designated by such party in a notice to the other
parties. Any notice, if mailed and properly addressed with postage prepaid or if properly
addressed and sent by pre-paid courier service, shall be deemed given when received; any notice, if
transmitted by facsimile, shall be deemed given when the confirmation of transmission thereof is
received by the transmitter. Electronic mail and Internet and intranet websites may be used only
to distribute routine communications by the Administrative Agents to the Lenders, such as financial
statements and other information as provided in Section 7.1.1 and for the distribution and
execution of Loan Documents for execution by the parties thereto, and may not be used for any other
purpose. The parties hereto agree that delivery of an executed counterpart of a signature page to
this Agreement and each other Loan Document by facsimile (or electronic transmission) shall be
effective as delivery of an original executed counterpart of this Agreement or such other Loan
Document. Unless otherwise indicated, all references to the time of a day in a Loan Document shall
refer to New York time.

SECTION 10.3 Payment of Costs and Expenses. The Borrowers agree to pay on demand all
expenses of the Agent (including the reasonable fees and out-of-pocket expenses of Mayer, Brown,
Rowe & Maw LLP, counsel to the Agents and of local counsel, if any, who may be retained by or on
behalf of the Agents) in connection with:

(a) the negotiation, preparation, execution and delivery of each Loan Document,
including schedules and exhibits, and any amendments, waivers, consents, supplements or
other modifications to any Loan Document as may from time to time hereafter be required,
whether or not the transactions contemplated hereby are consummated;

(b) the actual costs of filing or recording of any Loan Document (including the Filing
Statements) and all amendments, supplements, amendment and restatements and other
modifications to any thereof, searches made following the Closing Date in jurisdictions
where Filing Statements (or other documents evidencing Liens in favor of the Secured
Parties) have been recorded and any and all other documents or instruments of further
assurance required to be filed or recorded by the terms of any Loan Document; and

(c) the preparation and review of the form of any document or instrument relevant to
any Loan Document.

The Borrowers further agrees to pay, and to save each Secured Party harmless from all liability
for, any stamp or other taxes which may be payable in connection with the execution or delivery of
each Loan Document, the Credit Extensions or the issuance of the Notes. The Borrowers also agree
to reimburse the Agents and each Lender upon demand for all reasonable out-of-pocket expenses
(including reasonable attorneys’ fees and legal expenses of counsel to the Agents) incurred by the
Agents or such Lender in connection with (x) the negotiation of any restructuring or “work-out”
with the Borrowers, whether or not consummated, of any Obligations and (y) the enforcement of any
Obligations.

SECTION 10.4 Indemnification. In consideration of the execution and delivery of this
Agreement by each Secured Party, the Borrowers hereby indemnify, exonerate and hold each Secured
Party, each Joint Lead Arranger, the Documentation Agent and each of their respective officers,
directors, employees and agents (collectively, the “Indemnified Parties”) free and harmless
from and against any and all actions, causes of action, suits, losses, costs, liabilities and
damages, and expenses incurred in connection therewith (irrespective of whether any such
Indemnified Party is a party to the action for which indemnification hereunder is sought),
including reasonable attorneys’ fees and disbursements, whether incurred in connection with actions
between or among the parties hereto or the parties hereto and third parties (collectively, the
“Indemnified Liabilities”), incurred by the Indemnified Parties or any of them as a result
of, or arising out of, or relating to:

(a) any transaction financed or to be financed in whole or in part, directly or
indirectly, with the proceeds of any Credit Extension, including all Indemnified Liabilities
arising in connection with the Transaction;

(b) the entering into and performance of any Loan Document by any of the Indemnified
Parties (including any action brought by or on behalf of the Company as the result of any
determination by the Required Lenders pursuant to Article V not to fund any Credit
Extension, provided that any such action is resolved in favor of such Indemnified
Party);

(c) any investigation, litigation or proceeding related to any acquisition or proposed
acquisition by any Obligor or any Subsidiary thereof of all or any portion of the Capital
Securities or assets of any Person, whether or not an Indemnified Party is party thereto;

(d) any investigation, litigation or proceeding related to any environmental cleanup,
audit, compliance or other matter relating to the protection of the environment or the
Release by any Obligor or any Subsidiary thereof of any Hazardous Material;

(e) the presence on or under, or the escape, seepage, leakage, spillage, discharge,
emission, discharging or releases from, any real property owned or operated by any Obligor
or any Subsidiary thereof of any Hazardous Material (including any losses, liabilities,
damages, injuries, costs, expenses or claims asserted or arising under any Environmental
Law), regardless of whether caused by, or within the control of, such Obligor or Subsidiary;
or

(f) each Lender’s Environmental Liability (the indemnification herein shall survive
repayment of the Obligations and any transfer of the property of any Obligor or its
Subsidiaries by foreclosure or by a deed in lieu of foreclosure for any Lender’s
Environmental Liability, regardless of whether caused by, or within the control of, such
Obligor or such Subsidiary);

except for Indemnified Liabilities arising for the account of a particular Indemnified Party by
reason of the relevant Indemnified Party’s gross negligence or willful misconduct. In no event
shall the Indemnified Parties have any liability to any Obligor, any Lender or any other Person for
incidental or consequential damages of any kind as a result of, or arising out of, or relating to
any of the items described in clause (a) through (f) above. Each Obligor and its
successors and assigns hereby waive, release and agree not to make any claim or bring any cost
recovery action against, any Indemnified Party under CERCLA or any state equivalent, or any similar
law now existing or hereafter enacted. It is expressly understood and agreed that to the extent
that any Indemnified Party is strictly liable under any Environmental Laws, each Obligor’s
obligation to such Indemnified Party under this indemnity shall likewise be without regard to fault
on the part of any Obligor with respect to the violation or condition which results in liability of
an Indemnified Party. If and to the extent that the foregoing undertaking may be unenforceable for
any reason, each Obligor agrees to make the maximum contribution to the payment and satisfaction of
each of the Indemnified Liabilities which is permissible under applicable law.

SECTION 10.5 Survival. The obligations of the Borrowers under Sections 4.3,
4.4, 4.5, 4.6, 10.3 and 10.4, and the obligations of the
Lenders under Section 9.1, shall in each case survive any assignment from one Lender to
another (in the case of Sections 10.3 and 10.4) and the occurrence of the
Termination Date. The representations and warranties made by each Obligor in each Loan Document
shall survive the execution and delivery of such Loan Document.

SECTION 10.6 Severability. Any provision of any Loan Document which is prohibited or
unenforceable in any jurisdiction shall, as to such provision and such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions
of such Loan Document or affecting the validity or enforceability of such provision in any other
jurisdiction.

SECTION 10.7 Headings. The various headings of each Loan Document are inserted for
convenience only and shall not affect the meaning or interpretation of such Loan Document or any
provisions thereof.

SECTION 10.8 Execution in Counterparts, Effectiveness, etc. This Agreement may be
executed by the parties hereto in several counterparts, each of which shall be an original and all
of which shall constitute together but one and the same agreement. This Agreement shall become
effective when counterparts hereof executed on behalf of the Borrowers, the Administrative Agents
and each Lender (or notice thereof satisfactory to the Administrative Agents), shall have been
received by the Administrative Agents.

SECTION 10.9 Governing Law; Entire Agreement. EACH LOAN DOCUMENT (OTHER THAN THE
LETTERS OF CREDIT, TO THE EXTENT SPECIFIED BELOW AND EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN A
LOAN DOCUMENT) WILL EACH BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF
THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL
OBLIGATIONS LAW OF THE STATE OF NEW YORK). EACH LETTER OF CREDIT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OR RULES DESIGNATED IN SUCH LETTER OF CREDIT, OR IF NO LAWS
OR RULES ARE DESIGNATED, THE INTERNATIONAL STANDBY PRACTICES (ISP98—INTERNATIONAL CHAMBER OF
COMMERCE PUBLICATION NUMBER 590 (THE “ISP RULES”)) AND, AS TO MATTERS NOT GOVERNED BY THE
ISP RULES, THE INTERNAL LAWS OF THE STATE OF NEW YORK. The Loan Documents constitute the entire
understanding among the parties hereto with respect to the subject matter thereof and supersede any
prior agreements, written or oral, with respect thereto.

SECTION 10.10 Successors and Assigns. This Agreement shall be binding upon and shall
inure to the benefit of the parties hereto and their respective successors and assigns;
provided that the Borrowers may not assign or transfer its rights or obligations hereunder
without the consent of all Lenders.

SECTION 10.11 Sale and Transfer of Credit Extensions; Participations in Credit Extensions;
Notes. Each Lender may assign, or sell participations in, its Loans, Letters of Credit and
Commitments to one or more other Persons in accordance with the terms set forth below.

(a) Any Lender may, with the consent of (x) the applicable Administrative Agent (such
consent not to be unreasonably withheld or delayed); provided that such consent
shall not be required for assignments to an Affiliate of a Lender or an Approved Fund, and
(y) each Issuer in the case of any assignment of a Revolving Loan Commitment (such consent
not to be unreasonably withheld or delayed), assign to one or more Eligible Assignees all or
a portion of its rights and obligations under this Agreement (including all or a portion of
its Commitments or Loans at the time owing to it); provided that:

(i) the aggregate amount of the Commitments (which for this purpose includes
Loans outstanding thereunder), or principal outstanding balance of the Loans of the
assigning Lender subject to each such assignment (determined as of the date the
Lender Assignment Agreement with respect to such assignment is delivered to such
Administrative Agent) shall not be less than $1,000,000, unless (A) such
Administrative Agent and, so long as no Event of Default has occurred and is
continuing, the Company otherwise consents (each such consent not to be unreasonably
withheld or delayed); (B) such assignment is an assignment of the entire remaining
amount of the assigning Lender’s Commitments or Loans at the time owing to it, (C)
such assignment is an assignment to a Lender or an Affiliate of a Lender or an
Approved Fund with respect to a Lender, (D) such assignment is an assignment during
the Primary Syndication or (E) such assignment is to one or more Eligible Assignees
managed by an Affiliate of such Eligible Assignee(s) and the aggregate amount of
such assignments is not less than $1,000,000;

(ii) each partial assignment shall be made as an assignment of a proportionate
part of all the assigning Lender’s rights and obligations under this Agreement with
respect to the Loans, and/or the Commitments assigned, except that this clause (ii)
shall not prohibit any Lender from assigning all or a portion of its rights and
obligations among separate tranches on a non-pro rata basis; and

(iii) the parties to each assignment shall (A) electronically execute and
deliver to the applicable Administrative Agent a Lender Assignment Agreement via an
electronic settlement system acceptable to such Administrative Agent (an
“ESS”) or (B) with the consent of the applicable Administrative Agent,
manually execute and deliver to such Administrative Agent a Lender Assignment
Agreement, together with, in either case, a processing and recordation fee of $3,500
(which fee may be waived or reduced in the sole discretion of such Administrative
Agent); provided that only one processing and recordation fee of $3,500
shall be required to be paid in connection with the simultaneous assignment by a
Lender to multiple Approved Funds of such Lender, and if the Eligible Assignee is
not already a Lender, administrative details information with respect to such
Eligible Assignee and applicable tax forms.

(b) Subject to acceptance and recording thereof by the applicable Administrative Agent
pursuant to clause (c), from and after the effective date specified in each Lender
Assignment Agreement, (i) the Eligible Assignee thereunder shall be a party hereto and, to
the extent of the interest assigned by such Lender Assignment Agreement, have the rights and
obligations of a Lender under this Agreement, and (ii) the assigning Lender thereunder
shall, to the extent of the interest assigned by such Lender Assignment Agreement, subject
to Section 10.5, be released from its obligations under this Agreement (and, in the
case of a Lender Assignment Agreement covering all of the assigning Lender’s rights and
obligations under this Agreement, such Lender shall cease to be a party hereto, but shall
continue to be entitled to the benefits of any provisions of this Agreement which by their
terms survive the termination of this Agreement). If the consent of the Company to an
assignment or to an Eligible Assignee is required hereunder (including a consent to an
assignment which does not meet the minimum assignment thresholds specified in this Section),
the Company shall be deemed to have given its consent five Business Days after the date
notice thereof has been delivered by the assigning Lender (through the Administrative Agents
or an ESS) unless such consent is expressly refused by the Company prior to such fifth day.

(c) The Administrative Agents shall record each assignment made in accordance with this
Section in the applicable Register pursuant to clause (a) of Section 2.8.
The Registers shall be available for inspection by the Borrowers and any Lender, at any
reasonable time upon reasonable prior notice to the Administrative Agents.

(d) Any Lender may, without the consent of, or notice to, any Person, sell
participations to one or more Persons (other than Ineligible Assignees) (a
“Participant”) in all or a portion of such Lender’s rights or obligations under the
Loan Documents (including all or a portion of its Commitments or the Loans owing to it);
provided that (i) such Lender’s obligations under the Loan Documents shall remain
unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for
the performance of such obligations and (iii) the Borrowers, the Agents and the other
Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under the Loan Documents. Any agreement or instrument
pursuant to which a Lender sells a participation shall provide that such Lender shall retain
the sole right to enforce the rights and remedies of a Lender under the Loan Documents and
to approve any amendment, modification or waiver of any provision of the Loan Documents;
provided that such agreement or instrument may provide that such Lender will not,
without the consent of the Participant, take any action of the type described in
clauses (a) through (d) or clause (f) of Section 10.1 with
respect to Obligations participated in by that Participant. Subject to clause (f),
the Borrowers agrees that each Participant shall be entitled to the benefits of
Sections 4.3, 4.4, 4.5, 4.6, 7.1.1, 10.3 and
10.4 to the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to clause (c). To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section 4.9 as though it were a Lender,
but only if such Participant agrees to be subject to Section 4.8 as though it were a
Lender.

(e) A Participant shall not be entitled to receive any greater payment under
Section 4.3, 4.4, 4.5, 4.6, 10.3 or 10.4
than the applicable Lender would have been entitled to receive with respect to the
participation sold to such Participant, unless the sale of the participation to such
Participant is made with the Company’s prior written consent. A Participant that would be a
Non-U.S. Secured Party if it were a Lender shall not be entitled to the benefits of
Section 4.6 unless the Company is notified of the participation sold to such
Participant and such Participant agrees, for the benefit of the Borrowers, to comply with
the requirements set forth in Section 4.6 as though it were a Lender. Any Lender
that sells a participating interest in any Loan, Commitment or other interest to a
Participant under this Section shall indemnify and hold harmless the Borrowers and the
Agents from and against any taxes, penalties, interest or other costs or losses (including
reasonable attorneys’ fees and expenses) incurred or payable by the Borrowers or the
Administrative Agents as a result of the failure of the Borrowers or the Administrative
Agents to comply with its obligations to deduct or withhold any Taxes from any payments made
pursuant to this Agreement to such Lender or the Administrative Agents, as the case may be,
which Taxes would not have been incurred or payable if such Participant had been a Non-U.S.
Lender that was entitled to deliver to the Borrowers, the applicable Administrative Agent or
such Lender, and did in fact so deliver, a duly completed and valid Form W-8BEN or W-8ECI
(or applicable successor form) entitling such Participant to receive payments under this
Agreement without deduction or withholding of any United States federal taxes.

(f) Any Lender may at any time pledge or assign a security interest in all or any
portion of its rights under this Agreement to secure obligations of such Lender, including
any pledge or assignment to secure obligations to a Federal Reserve Bank; provided
that no such pledge or assignment of a security interest shall release a Lender from any of
its obligations hereunder or substitute any such pledgee or assignee for such Lender as a
party hereto.

(g) Notwithstanding anything to the contrary contained herein, any Lender (a
“Granting Lender”) may grant to a special purpose funding vehicle (a “SPC”),
identified as such in writing from time to time by the Granting Lender to the Administrative
Agents and the Company, the option to provide to the Company all or any part of any Loan
that such Granting Lender would otherwise be obligated to make to the Company pursuant to
this Agreement; provided that (x) nothing herein shall constitute a commitment by
any SPC to make any Loans and (y) if an SPC elects not to exercise such option or otherwise
fails to provide all or any part of such Loan, the Granting Lender shall be obligated to
make such Loan pursuant to the terms hereof. The making of a Loan by an SPC hereunder shall
utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were
made by such Granting Lender. Each party hereto hereby agrees that no SPC shall be liable
for any indemnity or similar payment obligation under this Agreement (all liability for
which shall remain with the Granting Lender). In furtherance of the foregoing, each party
hereto hereby agrees (which agreement shall survive the termination of this Agreement) that,
prior to the date that is one year and one day after the payment in full of all outstanding
commercial paper or other senior indebtedness of any SPC, it will not institute against, or
join any other person in instituting against, such SPC any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under the laws of the United States or
any State thereof. In addition, notwithstanding anything to the contrary contained in this
clause, any SPC may (i) with notice to, but without the prior written consent of, the
Company or the Administrative Agents and without paying any processing fee therefor, assign
all or a portion of its interests in any Loans to the Granting Lender or to any financial
institutions (consented to by the Company, and the Administrative Agents) providing
liquidity and/or credit support to or for the account of such SPC to support the funding or
maintenance of Loans and (ii) disclose on a confidential basis any non-public information
relating to its Loans to any rating agency, commercial paper dealer or provider of any
surety, guarantee or credit or liquidity enhancement to such SPC. This Section may not be
amended without the written consent of the SPC. The Company acknowledges and agrees,
subject to the next sentence, that, to the fullest extent permitted under applicable law,
each SPC, for purposes of Sections 4.3, 4.4, 4.5, 4.6,
4.8, 4.9, 10.3 and 10.4, shall be considered a Lender. The
Borrowers shall not be required to pay any amount under Sections 4.3, 4.4,
4.5, 4.6, 10.3 and 10.4 that is greater than the amount
which it would have been required to pay had no grant been made by a Granting Lender to an
SPC.

SECTION 10.12 Other Transactions. Nothing contained herein shall preclude the
Administrative Agents, any Issuer or any other Lender from engaging in any transaction, in addition
to those contemplated by the Loan Documents, with any Borrower or any of its Affiliates in which
such Borrower or such Affiliate is not restricted hereby from engaging with any other Person.

SECTION 10.13 Forum Selection and Consent to Jurisdiction. ANY LITIGATION BASED
HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, ANY LOAN DOCUMENT, OR ANY COURSE OF
CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF THE ADMINISTRATIVE
AGENTS, THE LENDERS, ANY ISSUER OR THE BORROWERS IN CONNECTION HEREWITH OR THEREWITH MAY BE BROUGHT
AND MAINTAINED IN THE COURTS OF THE STATE OF NEW YORK OR IN THE UNITED STATES DISTRICT COURT FOR
THE SOUTHERN DISTRICT OF NEW YORK; PROVIDED THAT ANY SUIT SEEKING ENFORCEMENT AGAINST ANY
COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT, AT THE AGENTS’ OPTION, IN THE COURTS OF ANY
JURISDICTION WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND, AND, BY EXECUTION AND DELIVERY
OF THIS AGREEMENT, EACH PERSON PARTY HERETO HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF
ITS PROPERTY, GENERALLY AND UNCONDITIONAL, THE NONEXCLUSIVE JURISDICTION OF SUCH COURTS. THE
BORROWERS IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, OR BY
PERSONAL SERVICE WITHIN OR WITHOUT THE STATE OF NEW YORK AT THE ADDRESS FOR NOTICES SPECIFIED IN
SECTION 10.2. THE BORROWERS HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY HAVE OR HEREAFTER MAY HAVE TO THE LAYING OF VENUE OF
ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH
LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. TO THE EXTENT THAT THE BORROWERS HAVE OR
HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS
(WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OR
OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, THE BORROWERS HEREBY IRREVOCABLY WAIVE TO THE
FULLEST EXTENT PERMITTED BY LAW SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THE LOAN
DOCUMENTS.

SECTION 10.14 Waiver of Jury Trial. EACH ADMINISTRATIVE AGENT, EACH LENDER, EACH
ISSUER AND EACH BORROWER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE TO THE FULLEST
EXTENT PERMITTED BY LAW ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, EACH LOAN DOCUMENT, OR ANY COURSE OF
CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF SUCH ADMINISTRATIVE
AGENT, SUCH LENDER, SUCH ISSUER OR EACH BORROWER IN CONNECTION THEREWITH. THE BORROWERS
ACKNOWLEDGE AND AGREE THAT IT HAS RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS PROVISION
(AND EACH OTHER PROVISION OF EACH OTHER LOAN DOCUMENT TO WHICH IT IS A PARTY) AND THAT THIS
PROVISION IS A MATERIAL INDUCEMENT FOR THE ADMINISTRATIVE AGENTS, EACH LENDER AND EACH ISSUER
ENTERING INTO THE LOAN DOCUMENTS.

SECTION 10.15 Patriot Act. Each Lender that is subject to Section 326 of the Patriot
Act and/or the Administrative Agents and/or the Joint Lead Arrangers (each of the foregoing acting
for themselves and not acting on behalf of any of the Lenders) hereby notify the Borrowers that
pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record
information that identifies the Borrowers, which information includes the name and address of the
Borrowers and other information that will allow such Lender, the Administrative Agents or the Joint
Lead Arrangers, as the case may be, to identify the Borrowers in accordance with the Patriot Act.

SECTION 10.16 Judgment Currency. The Obligations of each Obligor in respect of any
sum due to any Secured Party under or in respect of any Loan Document shall, notwithstanding any
judgment in a currency (the “Judgment Currency”) other than the currency in which such sum
was originally denominated (the “Original Currency”), be discharged only to the extent that
on the Business Day following receipt by such Secured Party or any sum adjudged to be so due in the
Judgment Currency, such Secured Party, in accordance with normal banking procedures, purchases the
Original Currency with the Judgment Currency. If the amount of Original Currency so purchased is
less than the sum originally due to such Secured Party, the Borrowers agree, as a separate
obligation and notwithstanding any such judgment, to indemnify such Lender, such Secured Party, as
the case may be, against such loss, and if the amount of Original Currency so purchased exceeds the
sum originally due to such Secured Party, as the case may be, such Secured Party, as the case may
be, agrees to remit such excess to the Borrowers.

SECTION 10.17 Confidentiality. (a) Subject to the provisions of clause (b) of
this Section, each Lender agrees that it will follow its customary procedures in an effort not to
disclose without the prior consent of the Company (other than to its employees, auditors, advisors
or counsel or to another Lender if the Lender or such Lender’s holding or parent company in its
sole discretion determines that any such party should have access to such information, provided
such Persons shall be subject to the provisions of this Section to the same extent as such Lender)
any confidential information which is now or in the future furnished pursuant to this Agreement or
any other Loan Document; provided that any Lender may disclose any such information (i) as
has become generally available to the public other than by virtue of a breach of this clause by the
respective Lender or any other Person to whom such Lender has provided such information as
permitted by this Section, (ii) as may be required or appropriate in any report, statement or
testimony submitted to any municipal, state, provincial or Federal regulatory body having or
claiming to have jurisdiction over such Lender or to the Federal Reserve Board or the Federal
Deposit Insurance Corporation or similar organizations (whether in the United States or elsewhere)
or their successors, (iii) as may be required or appropriate in respect to any summons or subpoena
or in connection with any litigation, (iv) in order to comply with any law, order, regulation or
ruling applicable to such Lender, (v) to the Administrative Agents, (vi) to any pledgee referred to
in clause (f) of Section 10.11 or any prospective or actual transferee or
participant in connection with any contemplated transfer or participation of any of the Notes or
Commitments or any interest therein by such Lender; provided that such prospective
transferee agrees to be bound by the confidentiality provisions contained in this Section, (vii) to
any direct or indirect contractual counterparty in swap agreements or such contractual
counterparty’s professional advisor (so long as such contractual counterparty or professional
advisor to such contractual counterparty agrees to be bound by the provisions of this Section) and
(viii) to the National Association of Insurance Commissioners or any similar organization or any
nationally recognized rating agency that requires access to information about a Lender’s investment
portfolio in connection with ratings issued with respect to such Lender. For purposes of this
Section 10.17, all information furnished to the Lenders by the Company or any of its
Affiliates shall be deemed public information unless prior to or concurrently with the delivery of
such information, the Lenders have been notified otherwise by the Company or such Affiliate.

(b) The Borrowers hereby acknowledge and agree that each Lender may share with any of its
Affiliates, and such Affiliates may share with such Lender, any information related to the Company
or any of its Subsidiaries, provided such Persons shall be subject to the provisions of this
Section to the same extent as such Lender.

Notwithstanding the foregoing paragraphs of this Section, any party to this Agreement (and
each Affiliate, director, officer, employee, agent or representative of the foregoing or such
Affiliate) may disclose to any and all persons, without limitation of any kind, the tax treatment
and tax structure of the transactions contemplated herein and all materials of any kind (including
opinions or other tax analyses) that are provided to such party relating to such tax treatment or
tax structure. The foregoing language is not intended to waive any confidentiality obligations
otherwise applicable under this Agreement except with respect to the information and materials
specifically referenced in the preceding sentence. This authorization does not extend to
disclosure of any other information, including (a) the identity of participants or potential
participants in the transactions contemplated herein, (b) the existence or status of any
negotiations, or (c) any financial, business, legal or personal information of or regarding a party
or its affiliates, or of or regarding any participants or potential participants in the
transactions contemplated herein (or any of their respective affiliates), in each case to the
extent such other information is not related to the tax treatment or tax structure of the
transactions contemplated herein.

SECTION 10.18 Counsel Representation. EACH BORROWER ACKNOWLEDGES AND AGREES THAT IT
HAS BEEN REPRESENTED BY COMPETENT COUNSEL IN THE NEGOTIATION OF THIS AGREEMENT, AND THAT ANY RULE
OR CONSTRUCTION OF LAW ENABLING SUCH BORROWER TO ASSERT THAT ANY AMBIGUITIES OR INCONSISTENCIES IN
THE DRAFTING OR PREPARATION OF THE TERMS OF THIS AGREEMENT SHOULD DIMINISH ANY RIGHTS OR REMEDIES
OF THE ADMINISTRATIVE AGENTS OR THE OTHER SECURED PARTIES ARE HEREBY WAIVED BY SUCH BORROWER.

3

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by
their respective officers thereunto duly authorized as of the day and year first above written.

FERRO CORPORATION

	 	 	 	By:
     

Name: Thomas M. Gannon

Title: Chief Financial Officer

1000 Lakeside Avenue

Cleveland, Ohio 44114

Facsimile No.: (216) 875-7275

Attention: General Counsel

4

NATIONAL CITY BANK,

as the Revolving Loan Administrative Agent, the
Collateral Agent, the Issuer and a Lender

	 	 	 	By:
     

Name: Robert S. Coleman

Title: Senior Vice President

Revolving Loan Administrative Agent:

1900 East Ninth Street

Cleveland, Ohio 44114

Facsimile No.: (216) 222-9396

Attention: Robert S. Coleman

Collateral Agent:

629 Euclid Avenue

Cleveland, Ohio 44114

Facsimile No.: (216) 222-0103

Attention: Traci Sajewski

5

CREDIT SUISSE, CAYMAN ISLANDS BRANCH,

as the Term Loan Administrative Agent and a Lender

	 	 	 	By:
     

Name: Brian T. Caldwell

Title: Director

	 	 	 	By:
     

Name:

Title:

	 	 	 	Eleven Madison Avenue

New York, New York 10010-3629

Facsimile No.: (212) 325 8321

Attention: Brian T. Caldwell

6

THE BANK OF NEW YORK

	 	 	 	By:
     

Name: Kenneth McDonnell

Title: Vice President

7

	 	 	 	CITICORP NORTH AMERICA, INC.

	 	 	 	By:
     

Name: Joronne Jeter

Title: Vice President

8

	 	 	 	FIFTH
THIRD BANK

	 	 	 	By:
     

Name: Roy C. Lanctot

Title: Vice President

9

FIRSTMERIT BANK, N.A.

	 	 	 	By:
     

Name: Jonathan Isaacs

Title: Vice President

10

JPMORGAN CHASE BANK, N.A.

	 	 	 	By:
     

Name: Steven P. Sullivan

Title: Vice President

11

KEYBANK NATIONAL ASSOCIATION, as Documentation Agent
and as a Lender

	 	 	 	By:
     

Name: Thomas J. Purcell

Title: Senior Vice President

12

LASALLE BANK NATIONAL ASSOCIATION

	 	 	 	By:
     

Name:

Title:

13

SCHEDULE I

DISCLOSURE SCHEDULE TO CREDIT AGREEMENT

ITEM 6.7. Litigation.

ITEM 6.8. Existing Subsidiaries.

ITEM 6.11. Employee Benefit Plans.

ITEM 6.12. Environmental Matters.

ITEM 7.2.2(b) Indebtedness to be Paid.

	 	 	 
	CREDITOR

	 	OUTSTANDING

PRINCIPAL AMOUNT

ITEM 7.2.2(c) Existing Indebtedness.

ITEM 7.2.3(c) Ongoing Liens.

ITEM 7.2.5(a) Ongoing Investments.

14

SCHEDULE II

PERCENTAGES;

LIBOR OFFICE;

DOMESTIC OFFICE

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	PERCENTAGES

	NAME AND NOTICE
	 	 	 	 	 	 	 	 	 	REVOLVING LOAN
	 	TERM LOAN

	ADDRESS OF LENDER
	 	LIBOR OFFICE
	 	DOMESTIC OFFICE
	 	COMMITMENT
	 	COMMITMENT

	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National City Bank
1900 East Ninth Street
Cleveland, OH 44114
	 	National City Bank
	 	National City Bank
	 	 	 	 	 	 	 	 
	Facsimile No.: (216) 222-9396
	 	1900 East Ninth Street	 	1900 East Ninth Street	 	 	 	 	 	 	 	 
	Attention: Robert S. Coleman
	 	Cleveland, OH 44114
	 	Cleveland, OH 44114
	 	 	22.20000000	%	 	 	 	 
	Credit Suisse, Cayman Islands Branch
Eleven Madison Avenue
New York, NY 10010-3629
	 	Credit Suisse, Cayman Islands Branch
	 	Credit Suisse, Cayman Islands Branch
	 	 	 	 	 	 	 	 
	Facsimile No.: (212) 325-8321
	 	Eleven Madison Avenue
	 	Eleven Madison Avenue
	 	 	 	 	 	 	 	 
	Attention: Brian T. Caldwell
	 	New York, NY 10010-3629
	 	New York, NY 10010-3629
	 	 	18.20000000	%	 	 	100.000000000	%
	KeyBank National Association
127 Public Square, 6th Floor
Cleveland, Ohio 44114
	 	KeyBank National Association
	 	KeyBank National Association
	 	 	 	 	 	 	 	 
	Facsimile No.: (216) 689-4649
	 	127 Public Square, 6th Floor	 	127 Public Square, 6th Floor	 	 	 	 	 	 	 	 
	Attention: Brian Fox
	 	Cleveland, Ohio 44114
	 	Cleveland, Ohio 44114
	 	 	16.00000000	%	 	 	 	 
	Citicorp North America, Inc.
388 Greenwich Street, 21st floor
New York, NY 10013
	 	Citicorp North America, Inc.
	 	Citicorp North America, Inc.
	 	 	 	 	 	 	 	 
	Facsimile No.: (646) 291-1817
	 	388 Greenwich Street, 21st floor	 	388 Greenwich Street, 21st floor	 	 	 	 	 	 	 	 
	Attention: Daniel H. Gouger
	 	New York, NY 10013
	 	New York, NY 10013
	 	 	10.00000000	%	 	 	 	 
	Fifth Third Bank
600 Superior Avenue East
Cleveland, OH 44114
	 	Fifth Third Bank
	 	Fifth Third Bank
	 	 	 	 	 	 	 	 
	Facsimile No.: (216) 274-5507
	 	600 Superior Avenue East	 	600 Superior Avenue East	 	 	 	 	 	 	 	 
	Attention: Roy C. Lanctot
	 	Cleveland, OH 44114
	 	Cleveland, OH 44114
	 	 	10.000000000	%	 	 	 	 
	JPMorgan Chase Bank, N.A.
One Oxford Centre
301 Grant Street, Suite 1100
	 	JPMorgan Chase Bank, N.A.
	 	JPMorgan Chase Bank, N.A.
	 	 	 	 	 	 	 	 
	Facsimile No.: (312) 385-7096
	 	One Oxford Centre
	 	One Oxford Centre
	 	 	 	 	 	 	 	 
	Attention: Shawuana Simmons
	 	301 Grant Street, Suite 1100	 	301 Grant Street, Suite 1100	 	 	10.00000000	%	 	 	 	 
	LaSalle Bank National Association
1300 E. 9th Street, #1000
Cleveland, OH 44114
	 	LaSalle Bank National Association
	 	LaSalle Bank National Association
	 	 	 	 	 	 	 	 
	Facsimile No.: (216) 802-2212
	 	1300 E. 9th Street, #1000	 	1300 E. 9th Street, #1000	 	 	 	 	 	 	 	 
	Attention: Patrick F. Dunphy
	 	Cleveland, OH 44114
	 	Cleveland, OH 44114
	 	 	6.000000000	%	 	 	 	 
	FirstMerit Bank, N.A.
101 West Prospect Avenue, Suite 350
Cleveland, OH 44115
	 	FirstMerit Bank, N.A.
	 	FirstMerit Bank, N.A.
	 	 	 	 	 	 	 	 
	Facsimile No.: (216) 802-6514
	 	101 West Prospect Avenue, Suite 350	 	101 West Prospect Avenue, Suite 350	 	 	 	 	 	 	 	 
	Attention: Jonathan M. Isaacs
	 	Cleveland, OH 44115
	 	Cleveland, OH 44115
	 	 	5.600000000	%	 	 	 	 
	The Bank of New York
One Wall Street, 21st Floor
New York, NY 10286
Facsimile No.: (212) 635-1066
Attention: Kenneth R. McDonnell
	 	 	 	 	 	 	 	 	 	 	2.00000000	%	 	 	 	 

15

SCHEDULE III

MORTGAGED PROPERTIES

A. Properties to be mortgaged by the Closing Date:

1200 Melrose, Waukegan, ILL

1301 North Flora Street, Plymouth, IN

7050 Krick Road, Bedford, OH

1000 and 1636 Wayside Ave.Cleveland, OH

1560 Main Street, Orrville, OH

1000 Lakeside Ave, Cleveland, OH

B. Properties to be mortgaged by June 30, 2006:

7500 E. Pleasant Valley Road, Independence, Ohio

111 W. Irene, Zachary, La

54 Kellog Court, Edison, NJ

4150 E. 56th Street, Cleveland, Ohio

3 Railroad Avenue, Stryker, Ohio

Route 130 South, Bridgeport, NJ

1789 Transelco Drive, Pen Yan, NY

510 E. Central Avenue, Fort Worth, Texas

C. Properties to be mortgaged by September 30, 2006:

1200 Gladstone Bldg 4, Waukegan, Ill

1200 Gladstone Bldg 4A/4B, Waukegan, Ill

1200 Gladstone Bldg 5, Waukegan, Ill

1200 Gladstone Bldg 6A, Waukegan, Ill

1200 Gladstone Bldg 7, Waukegan, Ill

1321 Glen Rock, Waukegan, Ill

1413 Glen Rock, Waukegan, Ill

1415 Glen Rock, Waukegan, Ill

3900 S. Clinton Road, Building B, South Plainfield, NJ

2495 S. Clinton Road Building E, South Plainfield, NJ

2501 S. Clinton Building F, South Plainfield, NJ

West Wylie Ave, Washington, PA

Peters Road, Evansville, IN

5001 Ohara, Evansville, IN

16

SCHEDULE IV

FOREIGN SUBSIDIARIES

	 	 	 
	Ferro (Spain) S.A.

	 	Spain
	Ferro BV

	 	The Kingdom of Netherlands
	Zibo Ferro Performance Materials Company, Limited (70%)

	 	Peoples Republic of China
	Ferro Colores SA de CV.

	 	Mexico
	Ferro Argentina SA

	 	Argentina
	Ferro Corporation (Australia) Pty Ltd

	 	Australia
	Ferro Enamel do Brasil Industria e Comercio Ltda.

	 	Brazil
	Ferro Industrial Products Ltd

	 	Canada
	Ferro Holding GmbH

	 	Germany
	PT Ferro Mas Dinamika (95%)

	 	Indonesia
	Ferro Japan K.K

	 	Japan
	Ferro Far East Ltd

	 	Hong Kong
	Ferro Mexicana SA de CV

	 	Mexico
	Ferro (Suzhou) Performance Materials Co. Ltd.

	 	Peoples Republic of China
	Ferro Taiwan Ltd

	 	Taiwan
	Ferro (Thailand) Co. Ltd.

	 	Thailand
	Ferro de Venezuela CA (51%)

	 	Venezuela
	Ferro (Great Britain) Ltd

	 	United Kingdom
	 
	 	 

17EX-10.2

PLEDGE AND SECURITY AGREEMENT

This PLEDGE AND SECURITY AGREEMENT, dated as of June 6, 2006 (as amended, supplemented,
amended and restated or otherwise modified from time to time, this “Security Agreement”),
is made by FERRO CORPORATION, an Ohio corporation (the “Company”), and each U.S. Subsidiary
(other than an SPV) (terms used in the preamble and the recitals have the definitions set forth in
or incorporated by reference in Article I) from time to time a party to this Security
Agreement (each individually a “Grantor” and collectively, the “Grantors”), in
favor of NATIONAL CITY BANK (“National City”), as the collateral agent (together with its
successor(s) thereto in such capacity, the “Collateral Agent”) for the benefit of the
Secured Parties.

W I T N E S S E T H

:

WHEREAS, this Security Agreement is made pursuant to the Credit Agreement, dated as of June 6,
2006 (as amended, supplemented, amended and restated or otherwise modified from time to time, the
“Credit Agreement”), among the Company, the Designated Borrowers from time to time party
thereto (together with the Company, each individually, a “Borrower” and collectively, the
“Borrowers”), the various financial institutions and other Persons from time to time party
thereto (the “Lenders”), Credit Suisse, Cayman Islands Branch, as the Term Loan
Administrative Agent, National City as the Revolving Loan Administrative Agent and the Collateral
Agent, and Keybank National Association, as the Documentation Agent; and

WHEREAS, it is a condition to the making of Loans and the issuance of, and participation in,
Letters of Credit, under the Credit Agreement that each Grantor shall have executed and delivered
this Security Agreement;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, each Grantor hereby makes the following representations and warranties to the
Collateral Agent and the other Secured Parties and hereby covenants and agrees with the Collateral
Agent, for the benefit of each Secured Party, as follows:

ARTICLE I

DEFINITIONS

SECTION 1.1 Certain Terms. The following terms (whether or not underscored) when used
in this Security Agreement, including its preamble and recitals, shall have the following meanings
(such definitions to be equally applicable to the singular and plural forms thereof):

“Borrowers” is defined in the preamble.

“Collateral” is defined in Section 2.1.

“Collateral Account” is defined in clause (b) of Section 4.3.

“Collateral Agent” is defined in the preamble.

“Computer Hardware and Software Collateral” means:

(a) all computer and other electronic data processing hardware, integrated computer
systems, central processing units, memory units, display terminals, printers, features,
computer elements, card readers, tape drives, hard and soft disk drives, cables, electrical
supply hardware, generators, power equalizers, accessories and all peripheral devices and
other related computer hardware, including all operating system software, utilities and
application programs in whatsoever form;

(b) all software programs (including both source code, object code and all related
applications and data files), designed for use on the computers and electronic data
processing hardware described in clause (a) above;

(c) all firmware associated therewith;

(d) all documentation (including flow charts, logic diagrams, manuals, guides,
specifications, training materials, charts and pseudo codes) with respect to such hardware,
software and firmware described in the preceding clauses (a) through (c);
and

(e) all rights with respect to all of the foregoing, including copyrights, licenses,
options, warranties, service contracts, program services, test rights, maintenance rights,
support rights, improvement rights, renewal rights and indemnifications and any
substitutions, replacements, improvements, error corrections, updates, additions or model
conversions of any of the foregoing.

“Control Agreement” means an authenticated record in form and substance satisfactory
to the Collateral Agent, that provides for the Collateral Agent to have “control” (as defined in
the UCC) over certain Collateral.

“Copyright Collateral” means all copyrights of the Grantors, registered or
unregistered and whether published or unpublished, now or hereafter in force throughout the world
including all of the Grantors’ rights, titles and interests in and to all copyrights registered in
the United States Copyright Office or anywhere else in the world and also including the copyrights
referred to in Item A of Schedule V, and registrations and recordings thereof and
all applications for registration thereof, whether pending or in preparation, all copyright
licenses, including each copyright license referred to in Item B of Schedule V, the
right to sue for past, present and future infringements of any of the foregoing, all rights
corresponding thereto, all extensions and renewals of any thereof and all Proceeds of the
foregoing, including licenses, royalties, income, payments, claims, damages and Proceeds of suit,
which are owned or licensed by the Grantors.

“Credit Agreement” is defined in the first recital.

“Distributions” means all dividends paid on Capital Stock pledged hereunder,
liquidating dividends paid on Capital Stock pledged hereunder, shares (or other designations) of
Capital Stock resulting from (or in connection with the exercise of) stock splits,
reclassifications, warrants, options, non-cash dividends, mergers, consolidations, and all other
distributions (whether similar or dissimilar to the foregoing) on or with respect to any Capital
Stock constituting Collateral.

“General Intangibles” means all “general intangibles” and all “payment intangibles”,
each as defined in the UCC, and shall include all interest rate or currency protection or hedging
arrangements, all tax refunds, all licenses, permits, concessions and authorizations and all
Intellectual Property Collateral (in each case, regardless of whether characterized as general
intangibles under the UCC).

“Grantor” and “Grantors” are defined in the preamble.

“Intellectual Property Collateral” means, collectively, the Computer Hardware and
Software Collateral, the Copyright Collateral, the Patent Collateral, the Trademark Collateral and
the Trade Secrets Collateral.

“Organic Document” means, relative to any Grantor, as applicable, its certificate or
articles of incorporation, articles and memorandum of association, by-laws, certificate of
partnership, partnership agreement, certificate of formation, limited liability agreement,
operating agreement and all shareholder agreements, voting trusts and similar arrangements
applicable to any of such Grantor’s Capital Stock pledged hereunder.

“Patent Collateral” means:

(a) inventions and discoveries, whether patentable or not, all letters patent and
applications for letters patent throughout the world, including all patent applications in
preparation for filing and each patent and patent application referred to in Item A
of Schedule III;

(b) all reissues, divisions, continuations, continuations-in-part, extensions, renewals
and reexaminations of any of the items described in clause (a);

(c) all patent licenses, and other agreements providing such Grantor with the right to
use any items of the type referred to in clauses (a) and (b) above,
including each patent license referred to in Item B of Schedule III; and

(d) all Proceeds of, and rights associated with, the foregoing (including licenses,
royalties income, payments, claims, damages and Proceeds of infringement suits), the right
to sue third parties for past, present or future infringements of any patent or patent
application, and for breach or enforcement of any patent license.

“Permitted Lien” means a Lien permitted under Section 7.2.3 of the Credit Agreement.

“Secured Obligations” shall mean and include:

(a) all Obligations and other liabilities owing by the Borrowers or any other Obligor
to the Secured Parties under the Credit Agreement and the other Loan Documents to which the
Borrowers or any other Obligors are now or may hereafter become a party (including, without
limitation, indemnities, Fees and other amounts payable thereunder), whether primary,
secondary, direct, contingent, fixed or otherwise,

(b) all Indebtedness of the type described in clauses (j), (k) and (l) of Section 7.2.2
of the Credit Agreement (without giving effect to any dollar limitations set forth in any
such clause) owed to a Lender or any of its Affiliates, and

(c) all obligations of the Company or any of its Subsidiaries in respect of overdrafts
and related liabilities owed to a Lender or any of its Affiliates and arising from cash
management services (including treasury, depository, overdraft, credit or debit card,
electronic funds transfer and other cash management arrangements),

in all cases whether now existing, or hereafter incurred or arising, including any such interest or
other amounts incurred or arising during the pendency of any bankruptcy, insolvency,
reorganization, receivership or similar proceeding, regardless of whether allowed or allowable in
such proceeding or subject to an automatic stay under section 362(a) of the Bankruptcy Code in
Title 11 of the United States Code, as amended, modified, superseded or replaced from time to time.

“Securities Act” is defined in clause (a) of Section 6.2.

“Security Agreement” is defined in the preamble.

“Specified Default” means the occurrence and continuance of (a) an Event of Default or
(b) a Default under clauses (a) through (d) of Section 8.1.9 of the Credit Agreement.

“Trademark Collateral” means :

(a) (i) all trademarks, trade names, corporate names, company names, business names,
fictitious business names, trade styles, service marks, certification marks, collective
marks, logos and other source or business identifiers, and all goodwill of the business
associated therewith, now existing or hereafter adopted or acquired including those referred
to in Item A of Schedule IV, whether currently in use or not, all
registrations and recordings thereof and all applications in connection therewith, whether
pending or in preparation for filing, including registrations, recordings and applications
in the United States Patent and Trademark Office or in any office or agency of the United
States, or any State thereof or any other country or political subdivision thereof or
otherwise, and all common-law rights relating to the foregoing, and (ii) the right to obtain
all reissues, extensions or renewals of the foregoing (collectively referred to as the
“Trademark”);

(b) all trademark licenses for the grant by or to such Grantor of any right to use any
trademark, including each trademark license referred to in Item B of Schedule
IV; and

(c) all of the goodwill of the business connected with the use of, and symbolized by
the items described in, clause (a), and to the extent applicable clause (b);

(d) the right to sue third parties for past, present and future infringements of any
Trademark Collateral described in clause (a) and, to the extent applicable,
clause (b); and

(e) all Proceeds of, and rights associated with, the foregoing, including any claim by
such Grantor against third parties for past, present or future infringement or dilution of
any Trademark, Trademark registration or Trademark license, or for any injury to the
goodwill associated with the use of any such Trademark or for breach or enforcement of any
Trademark license and all rights corresponding thereto throughout the world.

“Trade Secrets Collateral” means all common law and statutory trade secrets and all
other confidential, proprietary or useful information and all know-how obtained by or used in or
contemplated at any time for use in the business of a Grantor (all of the foregoing being
collectively called a “Trade Secret”), whether or not such Trade Secret has been reduced to
a writing or other tangible form, including all Documents and things embodying, incorporating or
referring in any way to such Trade Secret, all Trade Secret licenses, including each Trade Secret
license referred to in Schedule VI, and including the right to sue for and to enjoin and to
collect damages for the actual or threatened misappropriation of any Trade Secret and for the
breach or enforcement of any such Trade Secret license.

SECTION 1.2 Credit Agreement Definitions. Unless otherwise defined herein or the
context otherwise requires, terms used in this Security Agreement, including its preamble and
recitals, have the meanings provided in the Credit Agreement.

SECTION 1.3 UCC Definitions. When used herein the terms Account, Certificated
Securities, Chattel Paper, Commercial Tort Claim, Commodity Account, Commodity Contract, Deposit
Account, Document, Electronic Chattel Paper, Equipment, Goods, Instrument, Inventory, Investment
Property, Letter-of-Credit Rights, Proceeds, Promissory Notes, Securities Account, Security
Entitlement, Supporting Obligations and Uncertificated Securities have the meaning provided in
Article 8 or Article 9, as applicable, of the UCC. Letters of Credit has the meaning provided in
Section 5-102 of the UCC.

ARTICLE II

SECURITY INTEREST

SECTION 2.1 Grant of Security Interest. Each Grantor hereby grants to the Collateral
Agent, for its benefit and the ratable benefit of each other Secured Party, a continuing security
interest, and a right to set-off against, any and all right, title and interest of such Grantor’s
in and to the following property, whether now or hereafter existing, owned or acquired by such
Grantor, and wherever located (collectively, the “Collateral”):

(a) Accounts;

(b) Chattel Paper;

(c) Commercial Tort Claims listed on Item I of Schedule II (as such
schedule may be amended or supplemented from time to time);

(d) Deposit Accounts;

(e) Documents;

(f) General Intangibles;

(g) Goods;

(h) Instruments;

(i) Investment Property;

(j) Letter-of-Credit Rights and Letters of Credit (other than such as is collateral for
or issued subject to or in connection with the Company’s existing accounts receivable
securitization program);

(k) Supporting Obligations;

(l) all books, records, writings, databases, computer programs, tapes, disks, related
data processing software (owned by such Grantor or in which it has an assignable interest),
information and other property relating to, used or useful in connection with, evidencing,
embodying, incorporating or referring to, any of the foregoing in this Section or are
otherwise helpful in the collection or realization thereupon;

(m) all Proceeds of the foregoing and, to the extent not otherwise included, (A) all
payments under insurance (whether or not the Collateral Agent is the loss payee thereof) and
(B) all tort claims; and

(n) all other property and rights of every kind and description and interests therein.

Notwithstanding the foregoing, the term “Collateral” shall not include:

(i) such Grantor’s real property interests (including fee real estate,
leasehold interests and fixtures);

(ii) any General Intangibles or other rights arising under any contracts,
instruments, licenses or other documents as to which the grant of a security
interest would (A) constitute a violation of a valid and enforceable restriction in
favor of a third party on such grant, unless and until any required consents shall
have been obtained, or (B) give any other party to such contract, instrument,
license or other document the right to terminate its obligations thereunder;

(iii) Investment Property consisting of Capital Stock of a Foreign Subsidiary
of such Grantor, in excess of 65% of the total combined voting power of all Capital
Stock of each such Foreign Subsidiary, except that such 65% limitation shall not
apply to a Foreign Subsidiary that (x) is treated as a partnership under the Code or
(y) is not treated as an entity that is separate from (A) such Grantor; (B) any
Person that is treated as a partnership under the Code or (C) any “United States
person” (as defined in Section 7701(a)(30) of the Code);

(iv) any asset, the granting of a security interest in which would be void or
illegal under any applicable governmental law, rule or regulation, or pursuant
thereto would result in, or permit the termination of, such asset;

(v) any asset subject to a Permitted Lien (other than Liens in favor of the
Collateral Agent) to the extent that the grant of other Liens on such asset (A)
would result in a breach or violation of, or constitute a default under, the
agreement or instrument governing such Permitted Lien, (B) would result in the loss
of use of such asset or (C) would permit the holder of such Permitted Lien to
terminate the Grantor’s use of such asset;

(vi) trade receivables and related collateral, credit support and similar
rights sold or contributed pursuant to the Company’s existing accounts receivable
securitization program (other than residual interests therein);

(vii) Inventory that has been chemically combined with precious metals
inventory or inventories such that an attempt to separate such inventories would
destroy or substantially devalue the inventory that would otherwise be subject to
this Security Agreement; or

(viii) Consigned metals or leased metals that are held as Inventory by such
Grantor but for which title has not yet transferred to such Grantor.

SECTION 2.2 Security for Secured Obligations. This Security Agreement and the
Collateral in which the Collateral Agent for the benefit of the Secured Parties is granted a
security interest hereunder by the Grantors to secure the prompt payment and performance in full
when due, whether by lapse of time, acceleration, mandatory prepayment or otherwise, of the Secured
Obligations.

SECTION 2.3 Grantors Remain Liable. Anything herein to the contrary notwithstanding:

(a) the Grantors will remain liable under the contracts and agreements included in the
Collateral to the extent set forth therein, and will perform all of their duties and
obligations under such contracts and agreements to the same extent as if this Security
Agreement had not been executed;

(b) the exercise by the Collateral Agent of any of its rights hereunder will not
release any Grantor from any of its duties or obligations under any such contracts or
agreements included in the Collateral; and

(c) no Secured Party will have any obligation or liability under any contracts or
agreements included in the Collateral by reason of this Security Agreement, nor will any
Secured Party be obligated to perform any of the obligations or duties of any Grantor
thereunder or to take any action to collect or enforce any claim for payment assigned
hereunder.

SECTION 2.4 Distributions on Pledged Shares. In the event that any Distribution with
respect to any Capital Stock pledged hereunder is permitted to be paid (in accordance with Section
7.2.6 of the Credit Agreement), such Distribution or payment may be paid directly to the applicable
Grantor. If any Distribution is made in contravention of Section 7.2.6 of the Credit Agreement,
such Grantor shall hold the same segregated and in trust for the Collateral Agent until paid to the
Collateral Agent in accordance with Section 4.1.5.

SECTION 2.5 Security Interest Absolute, etc. This Security Agreement shall in all
respects be a continuing, absolute, unconditional and irrevocable grant of security interest, and
shall remain in full force and effect until the Termination Date. All rights of the Secured
Parties and the security interests granted to the Collateral Agent (for its benefit and the ratable
benefit of each other Secured Party) hereunder, and all obligations of the Grantors hereunder,
shall, in each case, be absolute, unconditional and irrevocable irrespective of:

(a) any lack of validity, legality or enforceability of any Loan Document;

(b) the failure of any Secured Party (i) to assert any claim or demand or to enforce
any right or remedy against any Credit Party or any other Person (including any other
Grantor) under the provisions of any Loan Document or otherwise, or (ii) to exercise any
right or remedy against any other guarantor (including any other Grantor) of, or collateral
securing, any Secured Obligations;

(c) any change in the time, manner or place of payment of, or in any other term of, all
or any part of the Secured Obligations, or any other extension, compromise or renewal of any
Secured Obligations;

(d) any reduction, limitation, impairment or termination of any Secured Obligations for
any reason, including any claim of waiver, release, surrender, alteration or compromise, and
shall not be subject to (and each Grantor hereby waives any right to or claim of) any
defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the
invalidity, illegality, nongenuineness, irregularity, compromise, unenforceability of, or
any other event or occurrence affecting, any Secured Obligations or otherwise;

(e) any amendment to, rescission, waiver, or other modification of, or any consent to
or departure from, any of the terms of any Loan Document;

(f) any addition, exchange or release of any Collateral or of any Person that is (or
will become) a Grantor (including the Grantors hereunder) of the Secured Obligations, or any
surrender or non-perfection of any collateral, or any amendment to or waiver or release or
addition to, or consent to or departure from, any other guaranty held by any Secured Party
securing any of the Secured Obligations; or

(g) any other circumstance which might otherwise constitute a defense available to, or
a legal or equitable discharge of, any Credit Party, any surety or any guarantor.

SECTION 2.6 Postponement of Subrogation. Each Grantor agrees that it will not
exercise any rights against another Grantor which it may acquire by way of rights of subrogation
under any Loan Document to which it is a party. No Grantor shall seek or be entitled to seek any
contribution or reimbursement from any Credit Party, in respect of any payment made under any Loan
Document or otherwise, until following the Termination Date. Any amount paid to such Grantor on
account of any such subrogation rights prior to the Termination Date shall be held in trust for the
benefit of the Secured Parties and shall immediately be paid and turned over to the Collateral
Agent for the benefit of the Secured Parties in the exact form received by such Grantor (duly
endorsed in favor of the Collateral Agent, if required), to be credited and applied against the
Secured Obligations, whether matured or unmatured, in accordance with Section 6.1;
provided that if the Termination Date has occurred, then at such Grantor’s request, the
Collateral Agent (on behalf of the Secured Parties) will, at the expense of such Grantor, execute
and deliver to such Grantor appropriate documents (without recourse and without representation or
warranty) necessary to evidence the transfer by subrogation to such Grantor of an interest in the
Secured Obligations resulting from such payment. In furtherance of the foregoing, at all times
prior to the Termination Date, such Grantor shall refrain from taking any action or commencing any
proceeding against any Obligor (or its successors or assigns, whether in connection with a
bankruptcy proceeding or otherwise) to recover any amounts in respect of payments made under this
Security Agreement to any Secured Party.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

In order to induce the Secured Parties to enter into the Credit Agreement and make Loans, or
issue Letters of Credit thereunder, the Grantors represent and warrant to each Secured Party as set
forth below.

SECTION 3.1 As to Capital Stock of the Subsidiaries, Investment Property.

(a) With respect to any Subsidiary of any Grantor that is

(i) a corporation, business trust, joint stock company or similar Person, all
Capital Stock pledged hereunder issued by such Subsidiary is duly authorized and
validly issued, fully paid and non-assessable, and represented by a certificate; and

(ii) a partnership or limited liability company, no Capital Stock pledged
hereunder issued by such Subsidiary (A) is dealt in or traded on securities
exchanges or in securities markets, (B) expressly provides that such Capital Stock
is a security governed by Article 8 of the UCC or (C) is held in a Securities
Account, except, with respect to this clause (a)(ii), Capital Stock pledged
hereunder (x) for which the Collateral Agent is the registered owner or (y) with
respect to which the issuer has agreed in an authenticated record with such Grantor
and the Collateral Agent to comply with any instructions of the Collateral Agent
without the consent of such Grantor.

(b) Each Grantor has delivered all Certificated Securities constituting Collateral held
by such Grantor on the Closing Date to the Collateral Agent, together with duly executed
undated blank stock powers, or other equivalent instruments of transfer acceptable to the
Collateral Agent.

(c) With respect to Uncertificated Securities constituting Collateral owned by any
Grantor, such Grantor has caused the issuer thereof either to (i) register the Collateral
Agent as the registered owner of such security or (ii) agree in an authenticated record with
such Grantor and the Collateral Agent that such issuer will comply with instructions with
respect to such security originated by the Collateral Agent without further consent of such
Grantor (any Grantor that is an Issuer hereby acknowledges and agrees that this Security
Agreement constitutes an agreement in an authenticated record to so comply with such
instructions).

(d) The percentage of the issued and outstanding Capital Stock of each Subsidiary
pledged by each Grantor hereunder is as set forth on Schedule I.

SECTION 3.2 Grantor Name, Location, etc.

(a) The jurisdiction in which each Grantor is located for purposes of Sections 9-301
and 9-307 of the UCC is set forth in Item A of Schedule II.

(b) Each location a secured party would have filed a UCC financing statement in the
five years prior to the date hereof to perfect a security interest in Equipment, Inventory
and General Intangibles owned by such Grantor is set forth in Item B of Schedule
II.

(c) The Grantors do not have any trade names other than those set forth in Item
C of Schedule II hereto.

(d) During the four months preceding the date hereof, no Grantor has been known by any
legal name different from the one set forth on the signature page hereto, nor has such
Grantor been the subject of any merger or other corporate reorganization, except as set
forth in Item D of Schedule II hereto.

(e) Each Grantor’s federal taxpayer identification number is (and, during the four
months preceding the date hereof, such Grantor has not had a federal taxpayer identification
number different from that) set forth in Item E of Schedule II hereto.

(f) No Grantor is a party to any federal, state or local government contract except as
set forth in Item F of Schedule II hereto.

(g) No Grantor maintains any Deposit Accounts, Securities Accounts or Commodity
Accounts with any Person, in each case, except as set forth on Item G of
Schedule II.

(h) No Grantor is the beneficiary of any Letters of Credit (other than such as is
collateral for or issued subject to or in connection with the Company’s existing accounts
receivable securitization program), except as set forth on Item H of Schedule
II.

(i) No Grantor has Commercial Tort Claims except as set forth on Item I of
Schedule II.

(j) The name set forth on the signature page attached hereto is the true and correct
legal name (as defined in the UCC) of each Grantor.

(k) Each Grantor has obtained a legal, valid and enforceable consent of each issuer of
any Letter of Credit to the assignment of the Proceeds of such Letter of Credit to the
Collateral Agent and no Grantor has consented to, and is otherwise aware of, any Person
(other than the Collateral Agent pursuant hereto) having control (within the meaning of
Section 9-104 of the UCC) over, or any other interest in any of such Grantor’s rights in
respect thereof.

SECTION 3.3 Ownership, No Liens, etc. Each Grantor owns its Collateral free and clear
of any Lien, except for any security interest (a) created by this Security Agreement and (b) in the
case of Collateral other than the Capital Stock of each Subsidiary pledged hereunder, that is a
Permitted Lien. No effective UCC financing statement or other filing similar in effect covering
all or any part of the Collateral is on file in any recording office, except those filed in favor
of the Collateral Agent relating to this Security Agreement or Permitted Liens.

SECTION 3.4 Possession of Inventory, Control; etc.

(a) Except in the case of Dispositions permitted under the terms of the Credit
Agreement, and except for certain Collateral that is on consignment, each Grantor has, and
agrees that it will maintain, exclusive possession of its Documents, Instruments, Promissory
Notes, Goods, Equipment and Inventory, other than (i) Equipment and Inventory in transit in
the ordinary course of business, (ii) except for Equipment or Inventory that is in the
temporary possession of another Person for purposes of being serviced, Equipment and
Inventory that is in the possession or control of a warehouseman, bailee agent or other
Person (other than a Person controlled by or under common control with any of the Borrowers)
that has been notified of the security interest created in favor of the Secured Parties
pursuant to this Security Agreement (and Grantor will use its best efforts to have such
third Person(s) authenticate a record acknowledging that it holds possession of such
Collateral for the Secured Parties’ benefit and waives any Lien (other than Permitted Liens)
held by it against such Collateral, and (iii) Instruments or Promissory Notes that have been
delivered to the Collateral Agent pursuant to Section 3.5. In the case of Equipment
or Inventory described in clause (ii) above, no lessor or warehouseman of any
premises or warehouse upon or in which such Equipment or Inventory is located has (i) issued
to a Grantor any warehouse receipt or other receipt in the nature of a warehouse receipt in
respect of any such Equipment or Inventory, (ii) issued to Grantor any Document for any such
Equipment or Inventory, (iii) to the knowledge of such Grantor without inquiry received
notification of any Secured Party’s interest (other than the security interest granted
hereunder) in any such Equipment or Inventory or (iv) any Lien on any such Equipment or
Inventory other than Permitted Liens.

(b) Each Grantor is the sole entitlement holder of its Accounts and no other Person
(other than the Collateral Agent pursuant to this Security Agreement or any other Person
with respect to Permitted Liens) has control or possession of, or any other interest in, any
of its Accounts or any other securities or property credited thereto.

SECTION 3.5 Negotiable Documents, Instruments and Chattel Paper. Each Grantor has
delivered to the Collateral Agent possession of all originals of all Documents, Instruments,
Promissory Notes, and tangible Chattel Paper owned or held by such Grantor on the Closing Date.

SECTION 3.6 Intellectual Property Collateral. Except as disclosed on Schedules
III through V, with respect to any material Intellectual Property Collateral that is
owned by a Grantor:

(a) such Intellectual Property Collateral is valid, subsisting, unexpired and
enforceable and has not been abandoned or adjudged invalid or unenforceable, in whole or in
part except as could not be expected to have a Material Adverse Effect;

(b) such Grantor is the sole and exclusive owner of the entire and unencumbered right,
title and interest in and to such Intellectual Property Collateral and, to Grantor’s
knowledge without inquiry, no claim has been made that the use of such Intellectual Property
Collateral does or may, conflict with, infringe, misappropriate, dilute, misuse or otherwise
violate any of the rights of any third party;

(c) such Grantor has made all necessary filings and recordations to protect its
interest in such Intellectual Property Collateral, including recordations of all of its
interests in the Patent Collateral and Trademark Collateral in the United States Patent and
Trademark Office and in corresponding offices throughout the world, and its claims to the
Copyright Collateral in the United States Copyright Office and in corresponding offices
throughout the world, and, to the extent necessary, has used proper statutory notice in
connection with its use of any material patent, Trademark and copyright in any of the
Intellectual Property Collateral;

(d) such Grantor has taken reasonable steps to safeguard its Trade Secrets and to its
knowledge without inquiry (A) none of the Trade Secrets of such Grantor has been used,
divulged, disclosed or appropriated for the benefit of any other Person other than such
Grantor; (B) no employee, independent contractor or agent of such Grantor has
misappropriated any Trade Secrets of any other Person in the course of the performance of
his or her duties as an employee, independent contractor or agent of such Grantor; and (C)
no employee, independent contractor or agent of such Grantor is in default or breach of any
term of any employment agreement, non-disclosure agreement, assignment of inventions
agreement or similar agreement or contract relating in any way to the protection, ownership,
development, use or transfer of such Grantor’s Intellectual Property Collateral;

(e) to such Grantor’s knowledge without inquiry, no third party is infringing upon any
Intellectual Property owned or used by such Grantor in any material respect, or any of its
respective licensees;

(f) no settlement or consents, covenants not to sue, nonassertion assurances, or
releases have been entered into by such Grantor or to which such Grantor is bound that
adversely affects its rights to own or use any Intellectual Property except as would not
have a Material Adverse Effect;

(g) such Grantor has not made a previous assignment, sale, transfer or agreement
constituting a present or future assignment, sale or transfer of any Intellectual Property
for purposes of granting a security interest or as Collateral that has not been terminated
or released

(h) such Grantor has executed and delivered to the Collateral Agent, Intellectual
Property Collateral security agreements for all copyrights, patents and Trademarks owned by
such Grantor, including all copyrights, patents and trademarks on Schedule III
through V (as such schedules may be amended or supplemented from time to time);

(i) such Grantor uses adequate standards of quality in the manufacture, distribution,
and sale of all products sold and in the provision of all services rendered under or in
connection with all Trademarks and has taken commercially reasonable action necessary to
insure that all licensees of the Trademarks owned by such Grantor use such adequate
standards of quality;

(j) the consummation of the transactions contemplated by the Credit Agreement and this
Security Agreement will not result in the termination or material impairment of any of the
Intellectual Property Collateral; and

(k) such Grantor owns directly or is entitled to use by license or otherwise, all
Patents, Trademarks, Trade Secrets, Copyrights, mask works, licenses, technology, know-how,
processes and rights with respect to any of the foregoing used in, necessary for or of
importance to the conduct of such Grantor’s business.

SECTION 3.7 Validity, etc.

(a) This Security Agreement creates a valid security interest in the Collateral
securing the payment of the Secured Obligations.

(b) Each Grantor has filed or caused to be filed all UCC-1 financing statements in the
filing office for each Grantor’s jurisdiction of organization listed in

Item A of Schedule II (collectively, the “Filing Statements”)
(or has authenticated and delivered to the Collateral Agent the Filing Statements suitable
for filing in such offices) and has taken all other:

(i) actions necessary to obtain control of the Collateral as provided in
Sections 9-104, 9-105, 9-106 and 9-107 of the UCC; and

(ii) actions necessary to perfect the Collateral Agent’s security interest with
respect to any Collateral evidenced by a certificate of ownership.

(c) Upon the filing of the Filing Statements with the appropriate agencies therefor the
security interests created under this Security Agreement shall constitute a perfected
security interest in the Collateral described on such Filing Statements in favor of the
Collateral Agent on behalf of the Secured Parties to the extent that a security interest
therein may be perfected by filing pursuant to the relevant UCC, prior to all other Liens,
except for Permitted Liens (in which case such security interest shall be second in priority
of right only to the Permitted Liens until the obligations secured by such Permitted Liens
have been satisfied).

SECTION 3.8 Authorization, Approval, etc. Except as have been obtained or made and
are in full force and effect, no authorization, approval or other action by, and no notice to or
filing with, any Governmental Authority or any other third party is required either

(a) for the grant by the Grantors of the security interest granted hereby or for the
execution, delivery and performance of this Security Agreement by the Grantors;

(b) for the perfection or maintenance of the security interests hereunder including the
first priority (subject to Permitted Liens) nature of such security interest (except with
respect to the Filing Statements or, with respect to Intellectual Property Collateral, the
recordation of any agreements with the U.S. Patent and Trademark Office or the U.S.
Copyright Office) or the exercise by the Collateral Agent of its rights and remedies
hereunder; or

(c) for the exercise by the Collateral Agent of the voting or other rights provided for
in this Security Agreement, or, except (i) with respect to any securities issued by a
Subsidiary of the Grantors, as may be required in connection with a disposition of such
securities by laws affecting the offering and sale of securities generally, the remedies in
respect of the Collateral pursuant to this Security Agreement and (ii) any “change of
control” or similar filings required by state licensing agencies.

SECTION 3.9 Best Interests. It is in the best interests of each Grantor (other than
the Borrowers) to execute this Security Agreement inasmuch as such Grantor will, as a result of
being a Subsidiary of the Company, derive substantial direct and indirect benefits from the Loans
and other extensions of credit made from time to time to the Borrowers by the Lenders and each
Issuer pursuant to the Credit Agreement, and each Grantor agrees that the Secured Parties are
relying on this representation in agreeing to make such Loans and other extensions of credit
pursuant to the Credit Agreement to the Borrowers.

ARTICLE IV

COVENANTS

Each Grantor covenants and agrees that, until the Termination Date, such Grantor will perform,
comply with and be bound by the obligations set forth below.

SECTION 4.1 As to Investment Property, etc.

SECTION 4.1.1 Capital Stock of Subsidiaries. No Grantor will allow any of its
Subsidiaries, the Capital Stock of which is pledged hereunder:

(a) that is a corporation, business trust, joint stock company or similar Person, to
issue Uncertificated Securities;

(b) that is a partnership or limited liability company, to (i) issue Capital Stock that
are to be dealt in or traded on securities exchanges or in securities markets,

(ii) expressly provide in its Organic Documents that its Capital Stock are securities
governed by Article 8 of the UCC, or (iii) place such Subsidiary’s Capital Stock in a
Securities Account; and

(c) to issue Capital Stock in addition to or in substitution for the Capital Stock
pledged hereunder, except to such Grantor (and such Capital Stock are immediately pledged
and delivered to the Collateral Agent pursuant to the terms of this Security Agreement).

SECTION 4.1.2 Investment Property (other than Certificated Securities).

(a) With respect to any Deposit Accounts, Securities Accounts, Commodity Accounts,
Commodity Contracts or Security Entitlements constituting Investment Property owned or held
by any Grantor, such Grantor will use commercially reasonable efforts to cause the
intermediary maintaining such Investment Property to execute a Control Agreement relating to
such Investment Property pursuant to which such intermediary agrees to comply with the
Collateral Agent’s instructions with respect to such Investment Property without further
consent by such Grantor.

(b) With respect to any Uncertificated Securities (other than Uncertificated Securities
credited to a Securities Account) constituting Investment Property owned or held by any
Grantor, such Grantor will use its commercially reasonable efforts to cause the issuer of
such securities to either (i) register the Collateral Agent as the registered owner thereof
on the books and records of the issuer or (ii) execute a Control Agreement relating to such
Investment Property pursuant to which the issuer agrees to comply with the Collateral
Agent’s instructions with respect to such Uncertificated Securities without further consent
by such Grantor.

SECTION 4.1.3 Certificated Securities (Stock Powers). Each Grantor agrees that all
Certificated Securities, including the Capital Stock delivered by such Grantor pursuant to this
Security Agreement, will be accompanied by duly executed undated blank stock powers, or other
equivalent instruments of transfer reasonably acceptable to the Collateral Agent.

SECTION 4.1.4 Continuous Pledge. Each Grantor will (subject to the terms of the
Credit Agreement) deliver to the Collateral Agent and at all times keep pledged to the Collateral
Agent pursuant hereto, on a first-priority, perfected basis all Investment Property, all Dividends
and Distributions with respect thereto, all Payment Intangibles to the extent they are evidenced by
a Document, Instrument, Promissory Note or Chattel Paper, and all interest and principal with
respect to such Payment Intangibles, and all Proceeds and rights from time to time received by or
distributable to such Grantor in respect of any of the foregoing Collateral. Each Grantor agrees
that it will, promptly following receipt thereof, deliver to the Collateral Agent possession of all
originals of negotiable Documents, Instruments, Promissory Notes and Chattel Paper that it acquires
following the date hereof.

SECTION 4.1.5 Voting Rights; Dividends, etc. Each Grantor agrees:

(a) promptly upon receipt of notice of the occurrence and continuance of a Specified
Default from the Collateral Agent and without any request therefor by the Collateral Agent,
so long as such Specified Default shall continue, to deliver (properly endorsed where
required hereby or requested by the Collateral Agent) to the Collateral Agent all Dividends
and Distributions with respect to Investment Property, all interest, principal, other cash
payments on Payment Intangibles, and all Proceeds of the Collateral, in each case thereafter
received by such Grantor, all of which shall be held by the Collateral Agent as additional
Collateral; and

(b) with respect to Collateral consisting of general partner interests or limited
liability company interests, to promptly modify its Organic Documents to admit the
Collateral Agent as a general partner or member, as applicable, immediately upon the
occurrence and continuance of a Specified Default and so long as the Collateral Agent has
notified such Grantor of the Collateral Agent’s intention to exercise its voting power under
this clause,

(i) that the Collateral Agent may exercise (to the exclusion of such Grantor)
the voting power and all other incidental rights of ownership with respect to any
Investment Property constituting Collateral and such Grantor hereby grants the
Collateral Agent an irrevocable proxy, exercisable under such circumstances, to vote
such Investment Property; and

(ii) to promptly deliver to the Collateral Agent such additional proxies and
other documents as may be necessary to allow the Collateral Agent to exercise such
voting power.

All dividends, Distributions, interest, principal, cash payments, Payment Intangibles and Proceeds
that may at any time and from time to time be held by such Grantor, but which such Grantor is then
obligated to deliver to the Collateral Agent, shall, until delivery to the Collateral Agent, be
held by such Grantor separate and apart from its other property in trust for the Collateral Agent.
The Collateral Agent agrees that unless a Specified Default shall have occurred and be continuing
and the Collateral Agent shall have given the notice referred to in clause (b), such
Grantor will have the exclusive voting power with respect to any Investment Property constituting
Collateral and the Collateral Agent will, upon the written request of such Grantor, promptly
deliver such proxies and other documents, if any, as shall be reasonably requested by such Grantor
which are necessary to allow such Grantor to exercise that voting power; provided that no
vote shall be cast, or consent, waiver, or ratification given, or action taken by such Grantor that
would impair any such Collateral or be inconsistent with or violate any provision of any Loan
Document.

SECTION 4.2 Change of Name, etc. No Grantor will change its name or place of
incorporation or organization or federal taxpayer identification number except upon 30 days’ prior
written notice to the Collateral Agent.

SECTION 4.3 As to Accounts.

(a) Each Grantor shall have the right to collect all Accounts so long as no Specified
Default shall have occurred and be continuing.

(b) Upon (i) the occurrence and continuance of a Specified Default and (ii) the
delivery of notice by the Collateral Agent to each Grantor, all Proceeds of Collateral
received by such Grantor shall be delivered in kind to the Collateral Agent for deposit in a
Deposit Account of such Grantor maintained with the Collateral Agent (together with any
other Accounts pursuant to which any portion of the Collateral is deposited with the
Collateral Agent, the “Collateral Accounts”), and such Grantor shall not commingle
any such Proceeds, and shall hold separate and apart from all other property, all such
Proceeds in express trust for the benefit of the Collateral Agent until delivery thereof is
made to the Collateral Agent, except for proceeds which are or become subject to such
Grantor’s existing accounts receivable securitization program.

(c) Following the delivery of notice pursuant to clause (b)(ii), the Collateral
Agent shall have the right to apply any amount in the Collateral Account to the payment of
any Secured Obligations which are due and payable as it deems appropriate.

(d) With respect to each of the Collateral Accounts, it is hereby confirmed and agreed
that (i) deposits in such Collateral Account are subject to a security interest as
contemplated hereby, (ii) such Collateral Account shall be under the control of the
Collateral Agent and (iii) the Collateral Agent shall have the sole right of withdrawal over
such Collateral Account.

SECTION 4.4 As to Grantors’ Use of Collateral.

(a) Subject to clause (b), each Grantor (i) may in the ordinary course of its
business, at its own expense, sell, lease or furnish under the contracts of service any of
the Inventory normally held by such Grantor for such purpose, and use and consume, in the
ordinary course of its business, any raw materials, work in process or materials normally
held by such Grantor for such purpose, (ii) will, at its own expense, endeavor to collect,
as and when due, all amounts due with respect to any of the Collateral, including the taking
of such action with respect to such collection as the Collateral Agent may request following
the occurrence of a Specified Default or, in the absence of such request, as such Grantor
may deem reasonably advisable, and (iii) may grant, in the ordinary course of business, to
any party obligated on any of the Collateral, any rebate, refund or allowance to which such
party may be lawfully entitled, and may accept, in connection therewith, the return of
Goods, the sale or lease of which shall have given rise to such Collateral.

(b) At any time following the occurrence and during the continuance of a Specified
Default, whether before or after the maturity of any of the Secured Obligations, the
Collateral Agent may (i) revoke any or all of the rights of each Grantor set forth in
clause (a), (ii) notify any parties obligated on any of the Collateral to make
payment to the Collateral Agent of any amounts due or to become due thereunder and
(iii) enforce collection of any of the Collateral by suit or otherwise and surrender,
release, or exchange all or any part thereof, or compromise or extend or renew for any
period (whether or not longer than the original period) any indebtedness thereunder or
evidenced thereby.

(c) Upon request of the Collateral Agent following the occurrence and during the
continuance of a Specified Default, each Grantor will, at its own expense, notify any
parties obligated on any of the Collateral to make payment to the Collateral Agent of any
amounts due or to become due thereunder.

(d) At any time following the occurrence and during the continuation of a Specified
Default, the Collateral Agent may endorse, in the name of such Grantor, any item, howsoever
received by the Collateral Agent, representing any payment on or other Proceeds of any of
the Collateral.

SECTION 4.5 As to Intellectual Property Collateral. Each Grantor covenants and agrees
to comply with the following provisions as such provisions relate to any Intellectual Property
Collateral material to the operations or business of such Grantor:

(a) such Grantor will not (i) do or fail to perform any act whereby any of the Patent
Collateral may lapse or become abandoned or dedicated to the public or unenforceable, (ii)
permit any of its licensees to (A) fail to continue to use any of the Trademark Collateral
in order to maintain all of the Trademark Collateral in full force free from any claim of
abandonment for non-use, (B) fail to maintain as in the past the quality of products and
services offered under all of the Trademark Collateral, (C) fail to employ all of the
Trademark Collateral registered with any federal or state or foreign authority with an
appropriate notice of such registration, (D) adopt or use any other Trademark which is
confusingly similar or a colorable imitation of any of the Trademark Collateral, (E) use any
of the Trademark Collateral registered with any federal, state or foreign authority except
for the uses for which registration or application for registration of all of the Trademark
Collateral has been made or (F) do or permit any act or knowingly omit to do any act whereby
any of the Trademark Collateral may lapse or become invalid or unenforceable, or (iii) do or
permit any act or knowingly omit to do any act whereby any of the Copyright Collateral or
any of the Trade Secrets Collateral may lapse or become invalid or unenforceable or placed
in the public domain except upon expiration of the end of an unrenewable term of a
registration thereof, unless, in the case of any of the foregoing requirements in
clauses (i), (ii) and (iii), such Grantor shall either (x)
reasonably and in good faith determine that any of such Intellectual Property Collateral is
of negligible economic value to such Grantor, or (y) the loss of the Intellectual Property
Collateral would not have a Material Adverse Effect on the business;

(b) such Grantor shall promptly notify the Collateral Agent if it knows, or has reason
to know, that any application or registration relating to any material item of the
Intellectual Property Collateral may become abandoned or dedicated to the public or placed
in the public domain or invalid or unenforceable, or of any adverse determination or
development (including the institution of, or any such determination or development in, any
proceeding in the United States Patent and Trademark Office, the United States Copyright
Office or any foreign counterpart thereof or any court) regarding such Grantor’s ownership
of any of the Intellectual Property Collateral, its right to register the same or to keep
and maintain and enforce the same;

(c) in the event that a Grantor or any of its agents, employees, designees or licensees
files an application for the registration of any Intellectual Property Collateral with the
United States Patent and Trademark Office, the United States Copyright Office or any similar
office or agency in any other country or any political subdivision thereof, it will promptly
so inform the Collateral Agent, and upon request of the Collateral Agent (subject to the
terms of the Credit Agreement), execute and deliver all agreements, instruments and
documents as the Collateral Agent may request to evidence the Collateral Agent’s security
interest in such Intellectual Property Collateral;

(d) such Grantor will take all necessary steps, including in any proceeding before the
United States Patent and Trademark Office, the United States Copyright Office or (subject to
the terms of the Credit Agreement) any similar office or agency in any other country or any
political subdivision thereof, to maintain and pursue any application (and to obtain the
relevant registration) filed with respect to, and to maintain any registration of, the
Intellectual Property Collateral, including the filing of applications for renewal,
affidavits of use, affidavits of incontestability and opposition, interference and
cancellation proceedings and the payment of fees and taxes (except to the extent that
dedication, abandonment or invalidation is permitted under the foregoing clause (a)
or (b)); and

(e) such Grantor will promptly (but no less than twice annually) execute and deliver to
the Collateral Agent (as applicable) a Patent Security Agreement, Trademark Security
Agreement and/or Copyright Security Agreement, as the case may be, in the forms of
Exhibit A, Exhibit B and Exhibit C hereto following its obtaining an
interest in any such Intellectual Property, and shall execute and deliver to the Collateral
Agent any other document required to acknowledge or register or perfect the Collateral
Agent’s interest in any part of such item of Intellectual Property Collateral unless such
Grantor shall determine in good faith (with the consent of the Collateral Agent) that any
Intellectual Property Collateral is of negligible economic value to such Grantor.

SECTION 4.6 As to Letter-of-Credit Rights.

(a) Each Grantor, by granting a security interest in its Letter-of-Credit Rights (other
than such as is collateral for or issued subject to or in connection with the Borrowers’
existing accounts receivable securitization programs) to the Collateral Agent, intends to
(and hereby does) collaterally assign to the Collateral Agent its rights (including its
contingent rights ) to the Proceeds of all Letter-of-Credit Rights of which it is or
hereafter becomes a beneficiary or assignee. Such Grantor will promptly use its
commercially reasonable efforts to cause the issuer of each Letter of Credit and each
nominated person (if any) with respect thereto to consent to such assignment of the Proceeds
thereof in a consent agreement in form and substance satisfactory to the Collateral Agent
and deliver written evidence of such consent to the Collateral Agent.

(b) Upon the occurrence of a Specified Default, such Grantor will, promptly upon
request by the Collateral Agent, (i) notify (and such Grantor hereby authorizes the
Collateral Agent to notify) the issuer and each nominated person with respect to each of the
Letters of Credit that the Proceeds thereof have been assigned to the Collateral Agent
hereunder and any payments due or to become due in respect thereof are to be made directly
to the Collateral Agent and (ii) arrange for the Collateral Agent to become the transferee
beneficiary Letter of Credit.

SECTION 4.7 As to Commercial Tort Claims. Each Grantor covenants and agrees that,
until the payment in full of the Secured Obligations and termination of all Commitments, with
respect to any Commercial Tort Claim hereafter arising, it shall deliver to the Collateral Agent a
supplement in form and substance satisfactory to the Collateral Agent, together with all
supplements to schedules thereto identifying such new Commercial Tort Claims.

SECTION 4.8 Electronic Chattel Paper and Transferable Records. If any Grantor at any
time holds or acquires an interest in any electronic chattel paper or any “transferable record,” as
that term is defined in Section 201 of the U.S. Federal Electronic Signatures in Global and
National Commerce Act, or in Section 16 of the U.S. Uniform Electronic Transactions Act as in
effect in any relevant jurisdiction, with a value in excess of $1,000,000, such Grantor shall
promptly notify the Collateral Agent thereof and, at the request of the Collateral Agent, shall
take such action as the Collateral Agent may request to vest in the Collateral Agent control under
Section 9-105 of the U.C.C. of such electronic chattel paper or control under Section 201 of the
Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, Section
16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such
transferable record. The Collateral Agent agrees with such Grantor that the Collateral Agent will
arrange, pursuant to procedures satisfactory to the Collateral Agent and so long as such procedures
will not result in the Collateral Agent’s loss of control, for the Grantor to make alterations to
the electronic chattel paper or transferable record permitted under Section 9-105 of the U.C.C. or,
as the case may be, Section 201 of the U.S. Federal Electronic Signatures in Global and National
Commerce Act or Section 16 of the U.S. Uniform Electronic Transactions Act for a party in control
to allow without loss of control, unless an Event of Default has occurred and is continuing or
would occur after taking into account any action by such Grantor with respect to such electronic
chattel paper or transferable record.

SECTION 4.9 Further Assurances, etc. Each Grantor agrees that, from time to time at
its own expense, it will promptly execute and deliver all further instruments and documents, and
take all further action, that may be necessary or that the Collateral Agent may request, in order
to perfect, preserve and protect any security interest granted or purported to be granted hereby or
to enable the Collateral Agent to exercise and enforce its rights and remedies hereunder with
respect to any Collateral. Without limiting the generality of the foregoing, such Grantor will

(a) from time to time upon the request of the Collateral Agent, promptly deliver to the
Collateral Agent such stock powers, instruments and similar documents, satisfactory in form
and substance to the Collateral Agent, with respect to such Collateral as the Collateral
Agent may request and will, from time to time upon the request of the Collateral Agent,
after the occurrence and during the continuance of any Specified Default, promptly transfer
any securities constituting Collateral into the name of any nominee designated by the
Collateral Agent; if any Collateral shall be evidenced by an Instrument, negotiable
Document, Promissory Note or tangible Chattel Paper, deliver and pledge to the Collateral
Agent hereunder such Instrument, negotiable Document, Promissory Note or tangible Chattel
Paper duly endorsed and accompanied by duly executed instruments of transfer or assignment,
all in form and substance satisfactory to the Collateral Agent;

(b) file (and hereby authorize the Collateral Agent to file) such Filing Statements or
continuation statements, or amendments thereto, and such other instruments or notices
(including any assignment of claim form under or pursuant to the federal assignment of
claims statute, 31 U.S.C. § 3726, any successor or amended version thereof or any regulation
promulgated under or pursuant to any version thereof), as may be necessary or that the
Collateral Agent may request in order to perfect and preserve the security interests and
other rights granted or purported to be granted to the Collateral Agent hereby;

(c) deliver to the Collateral Agent and at all times keep pledged to the Collateral
Agent pursuant hereto, on a first-priority, perfected basis, at the request of the
Collateral Agent, all Investment Property constituting Collateral, all Distributions with
respect thereto, and all interest and principal with respect to Promissory Notes, and all
Proceeds and rights from time to time received by or distributable to such Grantor in
respect of any of the foregoing Collateral;

(d) not take or omit to take any action the taking or the omission of which would
result in any impairment or alteration of any obligation of the maker of any Payment
Intangible or other Instrument constituting Collateral, except as provided in Section
4.4;

(e) not create any tangible Chattel Paper without placing a legend on such tangible
Chattel Paper acceptable to the Collateral Agent indicating that the Collateral Agent has a
security interest in such Chattel Paper;

(f) furnish to the Collateral Agent, from time to time at the Collateral Agent’s
request, statements and schedules further identifying and describing the Collateral and such
other reports in connection with the Collateral as the Collateral Agent may request, all in
reasonable detail; and

(g) do all things requested by the Collateral Agent in accordance with this Security
Agreement in order to enable the Collateral Agent to have and maintain control over the
Collateral consisting of Investment Property, Deposit Accounts, Letter-of-Credit-Rights and
Electronic Chattel Paper.

With respect to the foregoing and the grant of the security interest hereunder, each Grantor hereby
authorizes the Collateral Agent to file one or more financing or continuation statements, and
amendments thereto, relative to all or any part of the Collateral. Each Grantor agrees that a
carbon, photographic or other reproduction of this Security Agreement or any UCC financing
statement covering the Collateral or any part thereof shall be sufficient as a UCC financing
statement where permitted by law. Each Grantor hereby authorizes the Collateral Agent to file
financing statements describing as the collateral covered thereby “all of the debtor’s personal
property or assets” or words to that effect, notwithstanding that such wording may be broader in
scope than the Collateral described in this Security Agreement.

SECTION 4.10 Deposit Accounts. Following the occurrence and during the continuance of
a Specified Default, at the request of the Collateral Agent or the Required Lenders, such Grantor
will maintain all of its Deposit Accounts only with the Collateral Agent or with any depositary
institution that has entered into a Control Agreement in favor of the Collateral Agent.

ARTICLE V

THE COLLATERAL AGENT

SECTION 5.1 Collateral Agent Appointed Attorney-in-Fact. Each Grantor hereby
irrevocably appoints the Collateral Agent its attorney-in-fact, with full authority in the place
and stead of such Grantor and in the name of such Grantor or otherwise, from time to time in the
Collateral Agent’s discretion, following the occurrence and during the continuance of a Specified
Default, to take any action and to execute any instrument which the Collateral Agent may deem
necessary or reasonably advisable to accomplish the purposes of this Security Agreement, including:

(a) to ask, demand, collect, sue for, recover, compromise, receive and give acquittance
and receipts for moneys due and to become due under or in respect of any of the Collateral;

(b) to receive, endorse, and collect any drafts or other Instruments, Documents and
Chattel Paper, in connection with clause (a) above;

(c) to file any claims or take any action or institute any proceedings which the
Collateral Agent may deem necessary or desirable for the collection of any of the Collateral
or otherwise to enforce the rights of the Collateral Agent with respect to any of the
Collateral; and

(d) to perform the affirmative obligations of such Grantor hereunder.

Each Grantor hereby acknowledges, consents and agrees that the power of attorney granted pursuant
to this Section is irrevocable and coupled with an interest.

SECTION 5.2 Collateral Agent May Perform. If any Grantor fails to perform any
agreement contained herein, the Collateral Agent may itself perform, or cause performance of, such
agreement, and the expenses of the Collateral Agent incurred in connection therewith shall be
payable by such Grantor pursuant to Section 10.3 of the Credit Agreement.

SECTION 5.3 Collateral Agent Has No Duty. The powers conferred on the Collateral
Agent hereunder are solely to protect its interest (on behalf of the Secured Parties) in the
Collateral and shall not impose any duty on it to exercise any such powers. Except for reasonable
care of any Collateral in its possession and the accounting for moneys actually received by it
hereunder, the Collateral Agent shall have no duty as to any Collateral or responsibility for

(a) ascertaining or taking action with respect to calls, conversions, exchanges,
maturities, tenders or other matters relative to any Investment Property, whether or not the
Collateral Agent has or is deemed to have knowledge of such matters, or

(b) taking any necessary steps to preserve rights against prior parties or any other
rights pertaining to any Collateral.

SECTION 5.4 Reasonable Care. The Collateral Agent is required to exercise reasonable
care in the custody and preservation of any of the Collateral in its possession; provided
that the Collateral Agent shall be deemed to have exercised reasonable care in the custody and
preservation of any of the Collateral, if it takes such action for that purpose as each Grantor
reasonably requests in writing at times other than upon the occurrence and during the continuance
of any Specified Default, but failure of the Collateral Agent to comply with any such request at
any time shall not in itself be deemed a failure to exercise reasonable care.

ARTICLE VI

REMEDIES

SECTION 6.1 Certain Remedies. If any Specified Default shall have occurred and be
continuing:

(a) The Collateral Agent may exercise in respect of the Collateral, in addition to
other rights and remedies provided for herein or otherwise available to it, all the rights
and remedies of a Secured Party on default under the UCC (whether or not the UCC applies to
the affected Collateral) and also may

(i) take possession of any Collateral not already in its possession without
demand and without legal process;

(ii) require each Grantor to, and each Grantor hereby agrees that it will, at
its expense and upon request of the Collateral Agent forthwith, assemble all or part
of the Collateral as directed by the Collateral Agent and make it available to the
Collateral Agent at a place to be designated by the Collateral Agent that is
reasonably convenient to both parties,

(iii) enter onto the property where any Collateral is located and take
possession thereof without demand and without legal process;

(iv) without notice except as specified below, lease, license, sell or
otherwise dispose of the Collateral or any part thereof in one or more parcels at
public or private sale, at any of the Collateral Agent’s offices or elsewhere, for
cash, on credit or for future delivery, and upon such other terms as the Collateral
Agent may deem commercially reasonable. Each Grantor agrees that, to the extent
notice of sale shall be required by law, at least ten days’ prior notice to such
Grantor of the time and place of any public sale or the time after which any private
sale is to be made shall constitute reasonable notification. The Collateral Agent
shall not be obligated to make any sale of Collateral regardless of notice of sale
having been given. The Collateral Agent may adjourn any public or private sale from
time to time by announcement at the time and place fixed therefor, and such sale
may, without further notice, be made at the time and place to which it was so
adjourned.

(b) All cash Proceeds received by the Collateral Agent in respect of any sale of,
collection from, or other realization upon, all or any part of the Collateral shall be
applied by the Collateral Agent against, all or any part of the Secured Obligations as set
forth in Section 4.7 of the Credit Agreement.

(c) The Collateral Agent may

(i) transfer all or any part of the Collateral into the name of the Collateral
Agent or its nominee, with or without disclosing that such Collateral is subject to
the Lien hereunder,

(ii) notify the parties obligated on any of the Collateral to make payment to
the Collateral Agent of any amount due or to become due thereunder,

(iii) withdraw, or cause or direct the withdrawal, of all funds with respect to
the Collateral Account;

(iv) enforce collection of any of the Collateral by suit or otherwise, and
surrender, release or exchange all or any part thereof, or compromise or extend or
renew for any period (whether or not longer than the original period) any
obligations of any nature of any party with respect thereto,

(v) endorse any checks, drafts, or other writings in any Grantor’s name to
allow collection of the Collateral,

(vi) take control of any Proceeds of the Collateral, and

(vii) execute (in the name, place and stead of any Grantor) endorsements,
assignments, stock powers and other instruments of conveyance or transfer with
respect to all or any of the Collateral.

SECTION 6.2 Securities Laws. If the Collateral Agent shall determine to exercise its
right to sell all or any of the Collateral that are Capital Stock pursuant to Section 6.1,
each Grantor agrees that, upon request of the Collateral Agent, each Grantor will, at its own
expense:

(a) execute and deliver, and cause (or, with respect to any issuer which is not a
Subsidiary of such Grantor, use commercially reasonable efforts to cause) each issuer of the
Collateral contemplated to be sold and the directors and officers thereof to execute and
deliver, all such instruments and documents, and do or cause to be done all such other acts
and things, as may be necessary or, in the opinion of the Collateral Agent, reasonably
advisable to register such Collateral under the provisions of the Securities Act of 1933, as
from time to time amended (the “Securities Act”), and cause the registration
statement relating thereto to become effective and to remain effective for such period as
prospectuses are required by law to be furnished, and to make all amendments and supplements
thereto and to the related prospectus which, in the opinion of the Collateral Agent, are
necessary or reasonably advisable, all in conformity with the requirements of the Securities
Act and the rules and regulations of the SEC applicable thereto, or use its commercially
reasonable efforts to exempt the Collateral under the state securities or “Blue Sky” laws
and to obtain all necessary governmental approvals for the sale of the Collateral, as
requested by the Collateral Agent;

(b) if necessary in order to effectuate such a registration or exemption, cause (or,
with respect to any issuer that is not a Subsidiary of such Grantor, use its commercially
reasonable efforts to cause) each such issuer to make available to its security holders, as
soon as practicable, an earnings statement that will satisfy the provisions of Section 11(a)
of the Securities Act; and

(c) do or cause to be done all such other acts and things as may be necessary to make
such sale of the Collateral or any part thereof valid and binding and in compliance with
applicable law.

(d) Each Grantor acknowledges the impossibility of ascertaining the amount of damages
that would be suffered by the Collateral Agent or the Secured Parties by reason of the
failure by such Grantor to perform any of the covenants contained in this Section and
consequently agrees that, if such Grantor shall fail to perform any of such covenants, it
shall pay, as liquidated damages and not as a penalty, an amount equal to the value (as
determined by the Collateral Agent) of such Collateral on the date the Collateral Agent
shall demand compliance with this Section.

SECTION 6.3 Compliance with Restrictions. Each Grantor agrees that in any sale of any
of the Collateral whenever a Specified Default shall have occurred and be continuing, the
Collateral Agent is hereby authorized to comply with any limitation or restriction in connection
with such sale as it may be advised by counsel is necessary in order to avoid any violation of any
right(s) of any third Person or applicable law (including compliance with such procedures as may
restrict the number of prospective bidders and purchasers, require that such prospective bidders
and purchasers have certain qualifications, and restrict such prospective bidders and purchasers to
Persons who will represent and agree that they are purchasing for their own account for investment
and not with a view to the distribution or resale of such Collateral), or in order to obtain any
required approval of the sale or of the purchaser by any third Person or any Governmental Authority
or official, and such Grantor further agrees that such compliance shall not result in such sale
being considered or deemed not to have been made in a commercially reasonable manner, nor shall the
Collateral Agent be liable nor accountable to such Grantor for any discount allowed by the reason
of the fact that such Collateral is sold in compliance with any such limitation or restriction.

SECTION 6.4 Protection of Collateral. The Collateral Agent may from time to time, at
its option, perform any act which any Grantor fails to perform after being requested in writing so
to perform (it being understood that no such request need be given after the occurrence and during
the continuance of a Specified Default) and the Collateral Agent may from time to time take any
other action which the Collateral Agent deems necessary for the maintenance, preservation or
protection of any of the Collateral or of its security interest therein.

ARTICLE VII

MISCELLANEOUS PROVISIONS

SECTION 7.1 Loan Document. This Security Agreement is a Loan Document executed
pursuant to the Credit Agreement and shall (unless otherwise expressly indicated herein) be
construed, administered and applied in accordance with the terms and provisions thereof, including
each Section thereof.

SECTION 7.2 Binding on Successors, Transferees and Assigns; Assignment. This Security
Agreement shall remain in full force and effect until the Termination Date has occurred, shall be
binding upon the Grantors and their successors, transferees and assigns and shall inure to the
benefit of and be enforceable by each Secured Party and its successors, transferees and assigns;
provided that no Grantor may (unless otherwise permitted under the terms of the Credit
Agreement or this Security Agreement) assign any of its obligations hereunder without the prior
written consent of all Lenders.

SECTION 7.3 Amendments, etc. No amendment to or waiver of any provision of this
Security Agreement, nor consent to any departure by any Grantor from its obligations under this
Security Agreement, shall in any event be effective unless the same shall be in writing and signed
by the Collateral Agent (on behalf of the Lenders or the Required Lenders, as the case may be,
pursuant to Section 10.1 of the Credit Agreement) and the Grantors and then such waiver or consent
shall be effective only in the specific instance and for the specific purpose for which given.

SECTION 7.4 Notices. All notices and other communications provided for hereunder
shall be in writing or by facsimile and addressed, delivered or transmitted to the appropriate
party at the address or facsimile number of such party specified in the Credit Agreement or at such
other address or facsimile number as may be designated by such party in a notice to the other
party. Any notice or other communication, if mailed and properly addressed with postage prepaid or
if properly addressed and sent by pre-paid courier service, shall be deemed given when received;
any such notice or other communication, if transmitted by facsimile, shall be deemed given when
transmitted and electronically confirmed.

SECTION 7.5 Release of Liens. Upon (a) the Disposition of Collateral in accordance
with the Credit Agreement or (b) the occurrence of the Termination Date, the security interests
granted herein shall automatically terminate with respect to (i) such Collateral (in the case of
clause (a)) or (ii) all Collateral (in the case of clause (b)). Upon any such
Disposition or termination, the Collateral Agent will, at the Grantors’ sole expense, deliver to
the Grantors, without any representations, warranties or recourse of any kind whatsoever, all
Collateral held by the Collateral Agent hereunder, and execute and deliver to the Grantors such
documents as the Grantors shall reasonably request to evidence such termination.

SECTION 7.6 Additional Grantors. Upon the execution and delivery by any other Person
of a supplement in the form of Annex I hereto, such Person shall become a “Grantor”
hereunder with the same force and effect as if it were originally a party to this Security
Agreement and named as a “Grantor” hereunder. The execution and delivery of such supplement shall
not require the consent of any other Grantor hereunder, and the rights and obligations of each
Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new
Grantor as a party to this Security Agreement.

SECTION 7.7 No Waiver; Remedies. In addition to, and not in limitation of
Section 2.5, no failure on the part of any Secured Party to exercise, and no delay in
exercising, any right hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any right hereunder preclude any other or further exercise thereof or the exercise of
any other right. The remedies herein provided are cumulative and not exclusive of any remedies
provided by law.

SECTION 7.8 Headings. The various headings of this Security Agreement are inserted
for convenience only and shall not affect the meaning or interpretation of this Security Agreement
or any provisions thereof.

SECTION 7.9 Severability. Any provision of this Security Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such provision and such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the
remaining provisions of this Security Agreement or affecting the validity or enforceability of such
provision in any other jurisdiction.

SECTION 7.10 Governing Law, Entire Agreement, etc. THIS SECURITY AGREEMENT SHALL BE
DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK
(INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE
OF NEW YORK), EXCEPT TO THE EXTENT THAT THE PERFECTION, EFFECT OF PERFECTION OR NONPERFECTION, AND
PRIORITY OF THE SECURITY INTEREST HEREUNDER, OR REMEDIES HEREUNDER, IN RESPECT OF ANY PARTICULAR
COLLATERAL ARE GOVERNED BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK. This
Security Agreement and the other Loan Documents constitute the entire understanding among the
parties hereto with respect to the subject matter hereof and thereof and supersede any prior
agreements, written or oral, with respect thereto.

SECTION 7.11 Counterparts. This Security Agreement may be executed by the parties
hereto in several counterparts, each of which shall be deemed to be an original and all of which
shall constitute together but one and the same agreement. Delivery of an executed counterpart of a
signature page to this Security Agreement by facsimile shall be effective as delivery of a manually
executed counterpart of this Security Agreement.

SECTION 7.12 Collateral Sharing Agreement. Notwithstanding anything herein to the
contrary, the lien and security interest granted to the Collateral Agent pursuant to this Security
Agreement and the exercise of any right or remedy by the Collateral Agent hereunder are subject to
the provisions of the Collateral Sharing Agreement. In the event of any conflict between the terms
of the Collateral Sharing Agreement and this Security Agreement, the terms of the Collateral
Sharing Agreement shall govern.

1

IN WITNESS WHEREOF, each of the parties hereto has caused this Security Agreement to be
duly executed and delivered by its Authorized Officer as of the date first above written.

FERRO CORPORATION

	 	 	 	By:

Name: Thomas M. Gannon

Title: Chief Financial Officer

FERRO ELECTRONIC MATERIALS INC.

	 	 	 	By:
     

Name: Rhonda S. Ferguson

Title: Assistant Secretary

FERRO PFANSTIEHL LABORATORIES, INC.

	 	 	 	By:
     

Name: Rhonda S. Ferguson

Title: Assistant Secretary

FERRO COLOR & GLASS CORPORATION

	 	 	 	By:
     

Name: Rhonda S. Ferguson

Title: Secretary

FERRO INTERNATIONAL SERVICES INC.

	 	 	 	By:
     

Name: Rhonda S. Ferguson

Title: Secretary

FERRO CHINA HOLDINGS INC.

	 	 	 	By:
     

Name: Rhonda S. Ferguson

Title: Secretary

2

NATIONAL CITY BANK,

as Collateral Agent

	 	 	 	By:
     

Name:

Title:

3

SCHEDULE I

to Security Agreement

	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name of Grantor:	 	 	 	 	 	 

	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Common Stock

	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

	 
	 	 	 	 	 	 	 	 	 	 
	Issuer (corporate)

	 	Cert. #
	 	# of Shares
	 	Authorized

Shares
	 	Outstanding

Shares
	 	

% of Shares Pledged
	 

	 	 
	 	 
	 	 
	 	 
	 	 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Limited Liability Company Interests
	Issuer (limited	 	% of Limited Liability	 	Type of Limited Liability
	liability company)	 	Company Interests	 	Company Interests Pledged
	 	 	 	 	Pledged	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	 	 	Partnership Interests
	Issuer (partnership)	 	 	% of Partnership	 	% of Partnership
	 	 	 	Interests Owned	 	Interests Pledged

4

SCHEDULE II

to Security Agreement

	Item A.	 	Location of each Grantor.

	 	 	 
	Name of Grantor:

	 	Location for purposes of UCC:
	 

	 	 
	 
	 	 
	[GRANTOR]

	 	[LOCATION]
	 

	 	 

	Item B.	 	Filing locations last five years.

	 	 	 
	Name of Grantor:

	 	Filing locations last five years
	 

	 	 
	 
	 	 
	[GRANTOR]

	 	[LOCATION]
	 

	 	 

	Item C.	 	Trade names.

	 	 	 
	Name of Grantor:

	 	Trade Names:
	 

	 	 
	 
	 	 
	[GRANTOR]

	 	

	 

	 	

	Item D.	 	Merger or other corporate reorganization.

	 	 	 
	Name of Grantor:

	 	Merger or other corporate reorganization:
	 

	 	 
	 
	 	 
	[GRANTOR]

	 	

	 

	 	

	Item E.	 	Taxpayer ID numbers.

	 	 	 
	Name of Grantor:

	 	Taxpayer ID numbers:
	 

	 	 
	 
	 	 
	[GRANTOR]

	 	

	 

	 	

Item F. Government Contracts.

	 	 	 
	Name of Grantor:

	 	Description of Contract:
	 

	 	 
	 
	 	 
	[GRANTOR]

	 	

	 

	 	

Item G. Deposit Accounts and Securities Accounts.

	 	 	 
	Name of Grantor:

	 	Description of Deposit Accounts and Securities

Accounts:
	 

	 	 
	 
	 	 
	[GRANTOR]

	 	

	 

	 	

Item H. Letter of Credit Rights.

	 	 	 
	Name of Grantor:

	 	Description of Letter of Credit Rights:
	 

	 	 
	 
	 	 
	[GRANTOR]

	 	

	 

	 	

Item I. Commercial Tort Claims.

	 	 	 
	Name of Grantor:

	 	Description of Commercial Tort Claims:
	 

	 	 
	 
	 	 
	[GRANTOR]

	 	

	 

	 	

	 
	 	 

5

SCHEDULE III

to Security Agreement

Item A. Patents

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Issued Patents	 	 	 	 
	Country	 	Patent No.	 	Issue Date	 	Inventor(s)	 	Title

Pending Patent Applications

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Country	 	Serial No.	 	Filing Date	 	Inventor(s)	 	Title

Patent Applications In Preparation

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Expected	 	 	 	 
	Country	 	Docket No.	 	Filing Date	 	Inventor(s)	 	Title

Item B. Patent Licenses

	 	 	 	 	 	 	 	 	 	 	 
	Country or

	 	 	 	 	 	Effective
	 	Expiration
	 	Subject
	 
	 	 	 	 	 	 	 	 	 	 
	Territory

	 	Licensor
	 	Licensee
	 	   Date  
	 	   Date  
	 	Matter
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 	 	 	 	 	 	 	 	 

6

SCHEDULE IV

to Security Agreement

Item A. Trademarks

	 	 	 	 	 	 	 
	 	 	Registered Trademarks
	 	 
	 
	 	 	 	 	 	 
	 

	 
	 	 	 	 	 	 
	Country

	 	Trademark
	 	Registration No.
	 	Registration Date
	 

	 	 
	 	 
	 	 

Pending Trademark Applications

	 	 	 	 	 	 	 
	Country

	 	Trademark
	 	Serial No.
	 	Filing Date
	 

	 	 
	 	 
	 	 

Trademark Applications In Preparation

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Expected	 	Products/
	Country	 	Trademark	 	Docket No.	 	Filing Date	 	Services

Item B. Trademark Licenses

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Country or	 	 	 	 	 	 	 	 	 	 	 	 	 	Effective	 	Expiration
	Territory	 	Trademark	 	Licensor	 	Licensee	 	   Date  	 	  	Date   

7

SCHEDULE V

to Security Agreement

Item A. Copyrights/Mask Works

Registered Copyrights/Mask Works

Country Registration No. Registration Date Author(s) Title

Copyright/Mask Work Pending Registration Applications

Country Serial No. Filing Date Author(s) Title

Copyright/Mask Work Registration Applications In Preparation

Expected

Country Docket No. Filing Date Author(s) Title

Item B. Copyright/Mask Work Licenses

8

SCHEDULE VI

to Security Agreement

Trade Secret or Know-How Licenses

9

EXHIBIT A

to Security Agreement

PATENT SECURITY AGREEMENT

This PATENT SECURITY AGREEMENT, dated as of      , 200     (this “Agreement”), is
made by [NAME OF GRANTOR], a      (the “Grantor”), in favor of NATIONAL CITY
BANK, as the collateral agent (together with its successor(s) thereto in such capacity, the
“Collateral Agent”) for each of the Secured Parties.

W I T N E S S E T H :

WHEREAS, this Agreement is made pursuant to the Credit Agreement, dated as of June 6, 2006 (as
amended, supplemented, amended and restated or otherwise modified from time to time, the
“Credit Agreement”), among the Borrowers, the various financial institutions and other
Persons from time to time party thereto (the “Lenders”), the Credit Suisse, Cayman Islands
Branch, as the Term Loan Administrative Agent, National City as the Revolving Loan Administrative
Agent and the Collateral Agent, and Keybank National Association, as the Documentation Agent;

WHEREAS, in connection with the Credit Agreement, the Grantor has executed and delivered a
Pledge and Security Agreement, dated as of June 6, 2006 (as amended, supplemented, amended and
restated or otherwise modified from time to time, the “Security Agreement”);

WHEREAS, pursuant to the Credit Agreement and pursuant to clause (e) of Section 4.5 of the
Security Agreement, the Grantor is required to execute and deliver this Agreement and to grant to
the Collateral Agent a continuing security interest in all of the Patent Collateral (as defined
below) to secure all Secured Obligations; and

WHEREAS, the Grantor has duly authorized the execution, delivery and performance of this
Agreement; and

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Grantor agrees, for the benefit of each Secured Party, as follows:

SECTION 1. Definitions. Unless otherwise defined herein or the context otherwise
requires, terms used in this Agreement, including its preamble and recitals, have the meanings
provided in the Security Agreement.

SECTION 2. Grant of Security Interest. The Grantor hereby assigns, pledges,
hypothecates, charges, mortgages, delivers, and transfers to the Collateral Agent, for its benefit
and the ratable benefit of each other Secured Party, and hereby grants to the Collateral Agent, for
its benefit and the ratable benefit of each other Secured Party, a continuing security interest in
all of the following property, whether now or hereafter existing or acquired by the Grantor (the
“Patent Collateral”):

(a) all of its letters patent and applications for letters patent throughout the world,
including all patent applications in preparation for filing and each patent and patent
application referred to in Item A of Schedule I attached hereto;

(b) all reissues, divisions, continuations, continuations-in-part, extensions, renewals
and reexaminations of any of the items described in clause (a);

(c) all of its patent licenses, and other agreements providing the Grantor with the
right to use any items of the type referred to in clauses (a) and (b) above, including each
patent license referred to in Item B of Schedule I attached hereto; and

(d) all Proceeds of, and rights associated with, the foregoing (including license
royalties and Proceeds of infringement suits), the right to sue third parties for past,
present or future infringements of any patent or patent application, and for breach or
enforcement of any patent license.

SECTION 3. Security Agreement. This Agreement has been executed and delivered by the
Grantor for the purpose of registering the security interest of the Collateral Agent in the Patent
Collateral with the United States Patent and Trademark Office and corresponding offices in other
countries of the world. The security interest granted hereby has been granted as a supplement to,
and not in limitation of, the security interest granted to the Collateral Agent for its benefit and
the ratable benefit of each other Secured Party under the Security Agreement. The Security
Agreement (and all rights and remedies of the Collateral Agent and each Secured Party thereunder)
shall remain in full force and effect in accordance with its terms.

SECTION 4. Release of Liens. Upon (i) the Disposition of Patent Collateral in
accordance with the Credit Agreement or (ii) the occurrence of the Termination Date, the security
interests granted herein shall automatically terminate with respect to (A) such Patent Collateral
(in the case of clause (i)) or (B) all Patent Collateral (in the case of clause
(ii)). Upon any such Disposition or termination, the Collateral Agent will, at the Grantor’s
sole expense, deliver to the Grantor, without any representations, warranties or recourse of any
kind whatsoever, all Patent Collateral held by the Collateral Agent hereunder, and execute and
deliver to the Grantor such Documents as the Grantor shall reasonably request to evidence such
termination.

SECTION 5. Acknowledgment. The Grantor does hereby further acknowledge and affirm
that the rights and remedies of the Collateral Agent with respect to the security interest in the
Patent Collateral granted hereby are more fully set forth in the Security Agreement, the terms and
provisions of which (including the remedies provided for therein) are incorporated by reference
herein as if fully set forth herein.

SECTION 6. Loan Document. This Agreement is a Loan Document executed pursuant to the
Credit Agreement and shall (unless otherwise expressly indicated herein) be construed, administered
and applied in accordance with the terms and provisions thereof, including Article X thereof.

SECTION 7. Counterparts. This Agreement may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original and all of which shall
constitute together but one and the same agreement.

* * * * *

10

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed
and delivered as of the date first above written.

[NAME OF GRANTOR]

	 	 	 	By:
     

Name:

Title:

NATIONAL CITY BANK,

as Collateral Agent

	 	 	 	By:
     

Name:

Title:

11

SCHEDULE I

to Patent Security Agreement

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Item A. Patents	 	 	 	 	 	 
	Issued Patents	 	 	 	 	 	 
	Country	 	Patent No.	 	Issue Date	 	Inventor(s)	 	Title

Pending Patent Applications

Country Serial No. Filing Date Inventor(s) Title

Patent Applications in Preparation

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Expected	 	 	 	 
	Country	 	Docket No.	 	Filing Date	 	Inventor(s)	 	Title

	 	 	 	 	 	 	 	 	 	 	 
	Item B. Patent Licenses
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Country or

Territory

	 	Licensor
	 	Licensee
	 	Effective

    Date    
	 	Expiration

     Date    
	 	Subject

Matter
	 

	 	 
	 	 
	 	 
	 	 
	 	 

12

EXHIBIT B

to Security Agreement

TRADEMARK SECURITY AGREEMENT

This TRADEMARK SECURITY AGREEMENT, dated as of      , 200     (this “Agreement”),
is made by [NAME OF GRANTOR], a      (the “Grantor”), in favor of NATIONAL CITY
BANK, as the collateral agent (together with its successor(s) thereto in such capacity, the
“Collateral Agent”) for each of the Secured Parties.

W I T N E S S E T H :

WHEREAS, this Agreement is made pursuant to the Credit Agreement, dated as of June 6, 2006 (as
amended, supplemented, amended and restated or otherwise modified from time to time, the
“Credit Agreement”), among the Borrowers, the various financial institutions and other
Persons from time to time party thereto (the “Lenders”), the Credit Suisse, Cayman Islands
Branch, as the Term Loan Administrative Agent, National City as the Revolving Loan Administrative
Agent and the Collateral Agent, and Keybank National Association, as the Documentation Agent;

WHEREAS, in connection with the Credit Agreement, the Grantor has executed and delivered a
Pledge and Security Agreement, dated as of June 6, 2006 (as amended, supplemented, amended and
restated or otherwise modified from time to time, the “Security Agreement”);

WHEREAS, pursuant to the Credit Agreement and pursuant to clause (e) of Section 4.5 of the
Security Agreement, the Grantor is required to execute and deliver this Agreement and to grant to
the Collateral Agent a continuing security interest in all of the Trademark Collateral (as defined
below) to secure all Secured Obligations; and

WHEREAS, the Grantor has duly authorized the execution, delivery and performance of this
Agreement; and

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Grantor agrees, for the benefit of each Secured Party, as follows:

SECTION 1. Definitions. Unless otherwise defined herein or the context otherwise
requires, terms used in this Agreement, including its preamble and recitals, have the meanings
provided in the Security Agreement.

SECTION 2. Grant of Security Interest. The Grantor hereby assigns, pledges,
hypothecates, charges, mortgages, delivers, and transfers to the Collateral Agent, for its benefit
and the ratable benefit of each other Secured Party, and hereby grants to the Collateral Agent, for
its benefit and the ratable benefit of each other Secured Party, a continuing security interest in
all of the following property, whether now or hereafter existing or acquired by the Grantor (the
“Trademark Collateral”):

(a) (i) all of its Trademarks, trade names, corporate names, company names, business
names, fictitious business names, trade styles, service marks, certification marks,
collective marks, logos and other source or business identifiers, and all goodwill of the
business associated therewith, now existing or hereafter adopted or acquired including those
referred to in Item A of Schedule I hereto, whether currently in use or not,
all registrations and recordings thereof and all applications in connection therewith,
whether pending or in preparation for filing, including registrations, recordings and
applications in the United States Patent and Trademark Office or in any office or agency of
the United States of America or any State thereof or any other country or political
subdivision thereof or otherwise, and all common-law rights relating to the foregoing, and
(ii) the right to obtain all reissues, extensions or renewals of the foregoing (collectively
referred to as the “Trademark”);

(b) all Trademark licenses for the grant by or to the Grantor of any right to use any
Trademark, including each Trademark license referred to in Item B of Schedule
I hereto;

(c) all of the goodwill of the business connected with the use of, and symbolized by
the items described in, clause (a), and to the extent applicable clause (b);

(d) the right to sue third parties for past, present and future infringements of any
Trademark Collateral described in clause (a) and, to the extent applicable, clause (b); and

(e) all Proceeds of, and rights associated with, the foregoing, including any claim by
the Grantor against third parties for past, present or future infringement or dilution of
any Trademark, Trademark registration or Trademark license, or for any injury to the
goodwill associated with the use of any such Trademark or for breach or enforcement of any
Trademark license and all rights corresponding thereto throughout the world.

SECTION 3. Security Agreement. This Agreement has been executed and delivered by the
Grantor for the purpose of registering the security interest of the Collateral Agent in the
Trademark Collateral with the United States Patent and Trademark Office and corresponding offices
in other countries of the world. The security interest granted hereby has been granted as a
supplement to, and not in limitation of, the security interest granted to the Collateral Agent for
its benefit and the ratable benefit of each other Secured Party under the Security Agreement. The
Security Agreement (and all rights and remedies of the Collateral Agent and each Secured Party
thereunder) shall remain in full force and effect in accordance with its terms.

SECTION 4. Release of Liens. Upon (i) the Disposition of Trademark Collateral in
accordance with the Credit Agreement or (ii) the occurrence of the Termination Date, the security
interests granted herein shall automatically terminate with respect to (A) such Trademark
Collateral (in the case of clause (i)) or (B) all Trademark Collateral (in the case of
clause (ii)). Upon any such Disposition or termination, the Collateral Agent will, at the
Grantor’s sole expense, deliver to the Grantor, without any representations, warranties or recourse
of any kind whatsoever, all Trademark Collateral held by the Collateral Agent hereunder, and
execute and deliver to the Grantor such Documents as the Grantor shall reasonably request to
evidence such termination.

SECTION 5. Acknowledgment. The Grantor does hereby further acknowledge and affirm
that the rights and remedies of the Collateral Agent with respect to the security interest in the
Trademark Collateral granted hereby are more fully set forth in the Security Agreement, the terms
and provisions of which (including the remedies provided for therein) are incorporated by reference
herein as if fully set forth herein.

SECTION 6. Loan Document. This Agreement is a Loan Document executed pursuant to the
Credit Agreement and shall (unless otherwise expressly indicated herein) be construed, administered
and applied in accordance with the terms and provisions thereof, including Article X thereof.

SECTION 7. Counterparts. This Agreement may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original and all of which shall
constitute together but one and the same agreement.

* * * * *

13

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed
and delivered as of the date first above written.

[NAME OF GRANTOR]

	 	 	 	By:
     

Name:

Title:

NATIONAL CITY BANK,

as Collateral Agent

	 	 	 	By:
     

Name:

Title:

14

SCHEDULE I

to Trademark Security Agreement

Item A. Trademarks

Registered Trademarks

Country Trademark Registration No. Registration Date

Pending Trademark Applications

Country Trademark Serial No. Filing Date

Trademark Applications in Preparation

Expected Products/

Country Trademark
Docket No. Filing Date
Services  

	 	 	 	 	 	 	 	 	 	 	 
	Item B. Trademark Licenses
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Country or

Territory

	 	Trademark
	 	Licensor
	 	Licensee
	 	Effective

     Date    
	 	Expiration

      Date   
	 

	 	 
	 	 
	 	 
	 	 
	 	 

15

EXHIBIT C

to Security Agreement

COPYRIGHT SECURITY AGREEMENT

This COPYRIGHT SECURITY AGREEMENT, dated as of      , 200     (this “Agreement”),
is made by [NAME OF GRANTOR], a      (the “Grantor”), in favor of NATIONAL CITY
BANK, as the collateral agent (together with its successor(s) thereto in such capacity, the
“Collateral Agent”) for each of the Secured Parties.

W I T N E S S E T H :

WHEREAS, this Agreement is made pursuant to the Credit Agreement, dated as of June 6, 2006 (as
amended, supplemented, amended and restated or otherwise modified from time to time, the
“Credit Agreement”), among the Borrowers, the various financial institutions and other
Persons from time to time party thereto (the “Lenders”), the Credit Suisse, Cayman Islands
Branch, as the Term Loan Administrative Agent, National City as the Revolving Loan Administrative
Agent and the Collateral Agent, and Keybank National Association, as the Documentation Agent;

WHEREAS, in connection with the Credit Agreement, the Grantor has executed and delivered a
Pledge and Security Agreement, dated as of June 6, 2006 (as amended, supplemented, amended and
restated or otherwise modified from time to time, the “Security Agreement”);

WHEREAS, pursuant to the Credit Agreement and pursuant to clause (e) of Section 4.5 of the
Security Agreement, the Grantor is required to execute and deliver this Agreement and to grant to
the Collateral Agent a continuing security interest in all of the Copyright Collateral (as defined
below) to secure all Secured Obligations; and

WHEREAS, the Grantor has duly authorized the execution, delivery and performance of this
Agreement; and

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Grantor agrees, for the benefit of each Secured Party, as follows:

SECTION 1. Definitions. Unless otherwise defined herein or the context otherwise
requires, terms used in this Agreement, including its preamble and recitals, have the meanings
provided in the Security Agreement.

SECTION 2. Grant of Security Interest. The Grantor hereby assigns, pledges,
hypothecates, charges, mortgages, delivers, and transfers to the Collateral Agent, for its benefit
and the ratable benefit of each other Secured Party, and hereby grants to the Collateral Agent, for
its benefit and the ratable benefit of each other Secured Party, a continuing security interest in
all of the following (the “Copyright Collateral”), whether now or hereafter existing or
acquired by the Grantor: all copyrights of the Grantor, whether statutory or common law,
registered or unregistered and whether published or unpublished, now or hereafter in force
throughout the world including all of the Grantor’s right, title and interest in and to all
copyrights registered in the United States Copyright Office or anywhere else in the world and also
including the copyrights referred to in Item A of Schedule I hereto, and
registrations and recordings thereof and all applications for registration thereof, whether pending
or in preparation, all copyright licenses, including each copyright license referred to in Item
B of Schedule I hereto, the right to sue for past, present and future infringements of
any of the foregoing, all rights corresponding thereto, all extensions and renewals of any thereof
and all Proceeds of the foregoing, including licenses, royalties, income, payments, claims, damages
and Proceeds of suit.

SECTION 3. Security Agreement. This Agreement has been executed and delivered by the
Grantor for the purpose of registering the security interest of the Collateral Agent in the
Copyright Collateral with the United States Copyright Office and corresponding offices in other
countries of the world. The security interest granted hereby has been granted as a supplement to,
and not in limitation of, the security interest granted to the Collateral Agent for its benefit and
the ratable benefit of each other Secured Party under the Security Agreement. The Security
Agreement (and all rights and remedies of the Collateral Agent and each Secured Party thereunder)
shall remain in full force and effect in accordance with its terms.

SECTION 4. Release of Liens. Upon (i) the Disposition of Copyright Collateral in
accordance with the Credit Agreement or (ii) the occurrence of the Termination Date, the security
interests granted herein shall automatically terminate with respect to (A) such Copyright
Collateral (in the case of clause (i)) or (B) all Copyright Collateral (in the case of
clause (ii)). Upon any such Disposition or termination, the Collateral Agent will, at the
Grantor’s sole expense, deliver to the Grantor, without any representations, warranties or recourse
of any kind whatsoever, all Copyright Collateral held by the Collateral Agent hereunder, and
execute and deliver to the Grantor such Documents as the Grantor shall reasonably request to
evidence such termination.

SECTION 5. Acknowledgment. The Grantor does hereby further acknowledge and affirm
that the rights and remedies of the Collateral Agent with respect to the security interest in the
Copyright Collateral granted hereby are more fully set forth in the Security Agreement, the terms
and provisions of which (including the remedies provided for therein) are incorporated by reference
herein as if fully set forth herein.

SECTION 6. Loan Document. This Agreement is a Loan Document executed pursuant to the
Credit Agreement and shall (unless otherwise expressly indicated herein) be construed, administered
and applied in accordance with the terms and provisions thereof, including Article X thereof.

SECTION 7. Counterparts. This Agreement may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original and all of which shall
constitute together but one and the same agreement.

* * * * *

16

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed
and delivered by as of the date first above written.

[NAME OF GRANTOR]

	 	 	 	By:
     

Name:

Title:

NATIONAL CITY BANK,

as Collateral Agent

	 	 	 	By:
     

Name:

Title:

17

SCHEDULE I

to Copyright Security Agreement

Item A. Copyrights/Mask Works

Registered Copyrights/Mask Works

Country Registration No. Registration Date Author(s) Title

Copyright/Mask Work Pending Registration Applications

Country Serial No. Filing Date Author(s) Title

Copyright/Mask Work Registration Applications in Preparation

Expected

Country Docket No. Filing Date Author(s) Title

	 	 	 	 	 	 	 	 	 
	Item B. Copyright/Mask Work Licenses
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Country or

Territory

	 	Licensor
	 	Licensee
	 	Effective

    Date      
	 	Expiration

    Date        
	 

	 	 
	 	 
	 	 
	 	 

18

ANNEX I

to Security Agreement

SUPPLEMENT TO

PLEDGE AND SECURITY AGREEMENT

This SUPPLEMENT, dated as of      ,      (this “Supplement”), is to the
Pledge and Security Agreement, dated as of June 6, 2006 (as amended, supplemented, amended and
restated or otherwise modified from time to time, the “Security Agreement”), among the
Grantors (such term, and other terms used in this Supplement, to have the meanings set forth in
Article I of the Security Agreement) from time to time party thereto, in favor of NATIONAL CITY
BANK, as the collateral agent (together with its successor(s) thereto in such capacity, the
“Collateral Agent”) for each of the Secured Parties.

W I T N E S S E T H

:

WHEREAS, this Supplement is made pursuant to the Credit Agreement, dated as of June 6, 2006
(as amended, supplemented, amended and restated or otherwise modified from time to time, the
“Credit Agreement”), among the Borrowers, the various financial institutions and other
Persons from time to time party thereto (the “Lenders”), the Credit Suisse, Cayman Islands
Branch, as the Term Loan Administrative Agent, National City as the Revolving Loan Administrative
Agent and the Collateral Agent, and Keybank National Association, as the Documentation Agent;

WHEREAS, pursuant to the provisions of Section 7.6 of the Security Agreement, each of the
undersigned is becoming a Grantor under the Security Agreement; and

WHEREAS, each of the undersigned desires to become a “Grantor” under the Security Agreement in
order to induce the Secured Parties to continue to extend Loans and issue Letters of Credit under
the Credit Agreement;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, each of the undersigned agrees, for the benefit of each Secured Party, as
follows.

SECTION 1. Party to Security Agreement, etc. In accordance with the terms of the
Security Agreement, by its signature below each of the undersigned hereby irrevocably agrees to
become a Grantor under the Security Agreement with the same force and effect as if it were an
original signatory thereto and each of the undersigned hereby (a) agrees to be bound by and comply
with all of the terms and provisions of the Security Agreement applicable to it as a Grantor and
(b) represents and warrants that the representations and warranties made by it as a Grantor
thereunder are true and correct as of the date hereof, unless stated to relate solely to an earlier
date, in which case such representations and warranties shall be true and correct as of such
earlier date. In furtherance of the foregoing, each reference to a “Grantor” and/or “Grantors” in
the Security Agreement shall be deemed to include each of the undersigned.

SECTION 2. Representations. Each of the undersigned Grantor hereby represents and
warrants that this Supplement has been duly authorized, executed and delivered by it and that this
Supplement and the Security Agreement constitute the legal, valid and binding obligation of each of
the undersigned, enforceable against it in accordance with its terms.

SECTION 3. Full Force of Security Agreement. Except as expressly supplemented
hereby, the Security Agreement shall remain in full force and effect in accordance with its terms.

SECTION 4. Severability. Wherever possible each provision of this Supplement shall
be interpreted in such manner as to be effective and valid under applicable law, but if any
provision of this Supplement shall be prohibited by or invalid under such law, such provision shall
be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder
of such provision or the remaining provisions of this Supplement or the Security Agreement.

SECTION 5. Governing Law, Entire Agreement, etc. THIS SUPPLEMENT SHALL BE DEEMED TO
BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR
SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).
This Supplement and the other Loan Documents constitute the entire understanding among the parties
hereto with respect to the subject matter thereof and supersede any prior agreements, written or
oral, with respect thereto.

SECTION 6. Counterparts. This Supplement may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original and all of which shall
constitute together but one and the same agreement.

* * * * *

19

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed
and delivered by its Authorized Officer as of the date first above written.

[NAME OF ADDITIONAL SUBSIDIARY]

	 	 	 	By:
     

Name:

Title:

[NAME OF ADDITIONAL SUBSIDIARY]

	 	 	 	 	 
	   By:_________________________________

	   Name:

	   Title:

	ACCEPTED AND AGREED FOR ITSELF
	 	 	 	 
	AND ON BEHALF OF THE SECURED PARTIES:

	NATIONAL CITY BANK,
as Collateral Agent
	 	 	 	 
	By:
	 	 	—	 

Name:

Title:

20

[COPY SCHEDULES FROM SECURITY AGREEMENT]

21

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