Document:

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                                                                  Exhibit 4(b)

                          REGISTRATION RIGHTS AGREEMENT

                                     BETWEEN

                                 AON CORPORATION

                                   AS ISSUER,

                                       AND

                       MORGAN STANLEY & CO. INCORPORATED,

                              AS INITIAL PURCHASER

                          DATED AS OF NOVEMBER 7, 2002

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         REGISTRATION RIGHTS AGREEMENT dated as of November 7, 2002 between Aon
Corporation, a Delaware corporation (the "COMPANY"), and Morgan Stanley & Co.
Incorporated (the "INITIAL PURCHASER") pursuant to the Purchase Agreement dated
November 4, 2002 (the "PURCHASE AGREEMENT"), between the Company and the Initial
Purchaser. In order to induce the Initial Purchaser to enter into the Purchase
Agreement, the Company has agreed to provide the registration rights set forth
in this Agreement. The execution of this Agreement is a condition to the closing
under the Purchase Agreement.

         The Company agrees with the Initial Purchaser, (i) for its benefit as
Initial Purchaser and (ii) for the benefit of the beneficial owners (including
the Initial Purchaser) from time to time of the Debentures (as defined herein)
and the beneficial owners from time to time of the Underlying Common Stock (as
defined herein) issued upon conversion of the Debentures (each of the foregoing
a "HOLDER" and together the "HOLDERS"), as follows:

         SECTION 1. DEFINITIONS. Capitalized terms used herein without
definition shall have their respective meanings set forth in the Purchase
Agreement. As used in this Agreement, the following terms shall have the
following meanings:

         "AFFILIATE" means with respect to any specified person, an "affiliate,"
as defined in Rule 144, of such person.

         "AMENDMENT EFFECTIVENESS DEADLINE DATE" has the meaning set forth in
Section 2(d) hereof.

         "BUSINESS DAY" means each Monday, Tuesday, Wednesday, Thursday and
Friday that is not a day on which banking institutions in The City of New York
are authorized or obligated by law or executive order to close.

         "COMMON STOCK" means the shares of common stock, par value $1.00 per
share, of the Company and any other shares of common stock as may constitute
"Common Stock" for purposes of the Indenture, including the Underlying Common
Stock.

         "CONVERSION PRICE" has the meaning assigned such term in the Indenture.

         "DAMAGES ACCRUAL PERIOD" has the meaning set forth in Section 2(e)
hereof.

         "DAMAGES PAYMENT DATE" means each May 15 and November 15.

         "DEBENTURES" means the 3 1/2% Senior Convertible Debentures Due 2012 of
the Company to be purchased pursuant to the Purchase Agreement.

         "DEFERRAL NOTICE" has the meaning set forth in Section 3(h) hereof.

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         "DEFERRAL PERIOD" has the meaning set forth in Section 3(h) hereof.

         "EFFECTIVENESS DEADLINE DATE" has the meaning set forth in Section 2(a)
hereof.

         "EFFECTIVENESS PERIOD" means the period commencing on the date hereof
and ending on the date that all Registrable Securities have ceased to be
Registrable Securities.

         "EVENT" has the meaning set forth in Section 2(e) hereof.

         "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended,
and the rules and regulations of the SEC promulgated thereunder.

         "FILING DEADLINE DATE" has the meaning set forth in Section 2(a)
hereof.

         "HOLDER" has the meaning set forth in the second paragraph of this
Agreement.

         "INDENTURE" means the Indenture, dated as of November 7, 2002, between
the Company and The Bank of New York, as trustee, pursuant to which the
Debentures are being issued.

         "INITIAL PURCHASER" means Morgan Stanley & Co. Incorporated.

         "INITIAL SHELF REGISTRATION STATEMENT" has the meaning set forth in
Section 2(a) hereof.

         "ISSUE DATE" means November 7, 2002.

         "LIQUIDATED DAMAGES AMOUNT" has the meaning set forth in Section 2(e)
hereof.

         "MATERIAL EVENT" has the meaning set forth in Section 3(h) hereof.

         "NOTICE AND QUESTIONNAIRE" means a written notice delivered to the
Company containing substantially the information called for by the Selling
Securityholder Notice and Questionnaire attached as Annex A to the Offering
Memorandum of the Company dated November 4, 2002 relating to the Debentures.

         "NOTICE HOLDER" means, on any date, any Holder that has delivered a
Notice and Questionnaire to the Company on or prior to such date.

         "PURCHASE AGREEMENT" has the meaning set forth in the preamble hereof.

         "PROSPECTUS" means the prospectus included in any Registration
Statement (including, without limitation, a prospectus that discloses
information previously omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A promulgated under

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the Securities Act), as amended or supplemented by any amendment or prospectus
supplement, including post-effective amendments, and all materials incorporated
by reference or explicitly deemed to be incorporated by reference in such
Prospectus.

         "RECORD HOLDER" means with respect to any Damages Payment Date relating
to any Debentures or Underlying Common Stock as to which any Liquidated Damages
Amount has accrued, the registered holder of such Debenture or Underlying Common
Stock on the May 1 immediately preceding a Damages Payment Date occurring on a
May 15, and on the November 1 immediately preceding a Damages Payment Date
occurring on a November 15.

         "REGISTRABLE SECURITIES" means the Debentures until such Debentures
have been converted into or exchanged for the Underlying Common Stock and, at
all times subsequent to any such conversion, the Underlying Common Stock and any
securities into or for which such Underlying Common Stock has been converted or
exchanged, and any security issued with respect thereto upon any stock dividend,
split or similar event until, in the case of any such security, (A) the earliest
of (i) its effective registration under the Securities Act and resale in
accordance with the Registration Statement covering it, (ii) expiration of the
holding period that would be applicable thereto, under Rule 144(k) or (iii) its
sale to the public pursuant to Rule 144 (or any similar provision then in force,
but not Rule 144A) under the Securities Act, and (B) as a result of the event or
circumstance described in any of the foregoing clauses (i) through (iii), the
legend with respect to transfer restrictions required under the Indenture is
removed or removable in accordance with the terms of the Indenture or such
legend, as the case may be.

         "REGISTRATION STATEMENT" means any registration statement of the
Company that covers any of the Registrable Securities pursuant to the provisions
of this Agreement, including the Prospectus, amendments and supplements to such
registration statement, including post-effective amendments, all exhibits and
all materials incorporated by reference or explicitly deemed to be incorporated
by reference in such registration statement.

         "RESTRICTED SECURITIES" means "Restricted Securities" as defined in
Rule 144.

         "RULE 144" means Rule 144 under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted
by the SEC.

         "RULE 144A" means Rule 144A under the Securities Act, as such Rule may
be amended from time to time, or any similar rule or regulation hereafter
adopted by the SEC.

         "SEC" means the Securities and Exchange Commission.

         "SECURITIES ACT" means the Securities Act of 1933, as amended, and the
rules and regulations promulgated by the SEC thereunder.

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         "SHELF REGISTRATION STATEMENT" has the meaning set forth in Section
2(a) hereof.

         "SPECIAL COUNSEL" means Davis Polk & Wardwell or one such other
successor counsel as shall be specified by the Holders of a majority of the
Registrable Securities, but which may, with the written consent of the Initial
Purchaser (which shall not be unreasonably withheld), be another nationally
recognized law firm experienced in securities law matters designated by the
Company, the reasonable fees and expenses of which will be paid by the Company
pursuant to Section 5 hereof. For purposes of determining the holders of a
majority of the Registrable Securities in this definition, Holders of Debentures
shall be deemed to be the Holders of the number of shares of Underlying Common
Stock into which such Debentures are or would be convertible as of the date the
consent is requested.

         "SUBSEQUENT SHELF REGISTRATION STATEMENT" has the meaning set forth in
Section 2(b) hereof.

         "TIA" means the Trust Indenture Act of 1939, as amended.

         "TRUSTEE" means The Bank of New York, the Trustee under the Indenture.

         "UNDERLYING COMMON STOCK" means the Common Stock into which the
Debentures are convertible or issued upon any such conversion.

         SECTION 2. SHELF REGISTRATION. (a) The Company shall prepare and file
or cause to be prepared and filed with the SEC, as soon as practicable but in
any event by the date (the "FILING DEADLINE DATE") ninety (90) days after the
Issue Date, a Registration Statement for an offering to be made on a delayed or
continuous basis pursuant to Rule 415 of the Securities Act (a "SHELF
REGISTRATION STATEMENT") registering the resale from time to time by Holders
thereof of all of the Registrable Securities (the "INITIAL SHELF REGISTRATION
STATEMENT"). The Initial Shelf Registration Statement shall be on Form S-3 or
another appropriate form permitting registration of such Registrable Securities
for resale by such Holders in accordance with the methods of distribution
elected by the Holders and set forth in the Initial Shelf Registration
Statement. The Company shall use its reasonable best efforts to cause the
Initial Shelf Registration Statement to be declared effective under the
Securities Act as promptly as is practicable but in any event by the date (the
"EFFECTIVENESS DEADLINE DATE") that is one hundred eighty (180) days after the
Issue Date, and to keep the Initial Shelf Registration Statement (or any
Subsequent Shelf Registration Statement) continuously effective under the
Securities Act until the expiration of the Effectiveness Period. At the time the
Initial Shelf Registration Statement is declared effective, each Holder that
became a Notice Holder on or prior to the date ten (10) Business Days prior to
such time of effectiveness shall be named as a selling securityholder in the
Initial Shelf Registration Statement and the related Prospectus in such a manner
as to permit such Holder to deliver such Prospectus to purchasers of Registrable
Securities in accordance with applicable law. None of the Company's security
holders (other than the Holders of Registrable Securities)

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shall have the right to include any of the Company's securities in the Shelf
Registration Statement.

          (b) If the Initial Shelf Registration Statement or any Subsequent
Shelf Registration Statement ceases to be effective for any reason at any time
during the Effectiveness Period (other than because all Registrable Securities
registered thereunder shall have been resold pursuant thereto or shall have
otherwise ceased to be Registrable Securities), the Company shall use its
reasonable best efforts to obtain the prompt withdrawal of any order suspending
the effectiveness thereof, and in any event shall within thirty (30) days of
such cessation of effectiveness amend the Shelf Registration Statement in a
manner reasonably expected to obtain the withdrawal of the order suspending the
effectiveness thereof, or file an additional Shelf Registration Statement
covering all of the securities that as of the date of such filing are
Registrable Securities (a "SUBSEQUENT SHELF REGISTRATION STATEMENT"). If a
Subsequent Shelf Registration Statement is filed, the Company shall use its
reasonable best efforts to cause the Subsequent Shelf Registration Statement to
become effective as promptly as is practicable after such filing and to keep
such Registration Statement (or subsequent Shelf Registration Statement)
continuously effective until the end of the Effectiveness Period.

          (c) The Company shall supplement and amend the Shelf Registration
Statement if required by the rules, regulations or instructions applicable to
the registration form used by the Company for such Shelf Registration Statement,
if required by the Securities Act or as necessary to name a Notice Holder as a
selling securityholder pursuant to Section (d) below.

          (d) Each Holder agrees that if such Holder wishes to sell Registrable
Securities pursuant to a Shelf Registration Statement and related Prospectus, it
will do so only in accordance with this Section 2(d) and Section 3(h). Following
the date that the Initial Shelf Registration Statement is declared effective,
each Holder wishing to sell Registrable Securities pursuant to a Shelf
Registration Statement and related Prospectus agrees to deliver a Notice and
Questionnaire to the Company at least three (3) Business Days prior to any
intended distribution of Registrable Securities under the Shelf Registration
Statement. Each holder who elects to sell Registrable Securities pursuant to a
Shelf Registration Statement agrees by submitting a Notice and Questionnaire to
the Company, it will be bound by the terms and conditions of the Notice and
Questionnaire and this Agreement. From and after the date the Initial Shelf
Registration Statement is declared effective, the Company shall, as promptly as
practicable after the date a Notice and Questionnaire is delivered pursuant to
Section 8(c) hereof, and in any event upon the later of (x) five (5) Business
Days after such date or (y) five (5) Business Days after the expiration of any
Deferral Period in effect when the Notice and Questionnaire is delivered or put
into effect within five (5) Business Days of such delivery date:

                (i) if required by applicable law, file with the SEC a
          post-effective amendment to the Shelf Registration Statement or
          prepare and, if required by applicable law, file a supplement to the
          related Prospectus or a supplement or amendment to any document

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          incorporated therein by reference or file any other required
          document so that the Holder delivering such Notice and
          Questionnaire is named as a selling securityholder in the Shelf
          Registration Statement and the related Prospectus in such a
          manner as to permit such Holder to deliver such Prospectus to
          purchasers of the Registrable Securities in accordance with
          applicable law and, if the Company shall file a post-effective
          amendment to the Shelf Registration Statement, use its reasonable
          best efforts to cause such post-effective amendment to be
          declared effective under the Securities Act as promptly as is
          practicable, but in any event by the date (the "AMENDMENT
          EFFECTIVENESS DEADLINE DATE") that is forty-five (45) days after
          the date such post-effective amendment is required by this clause
          to be filed;

                (ii) provide such Holder copies of any documents filed pursuant
          to Section 2(d)(i); and

                (iii) notify such Holder as promptly as practicable after the
          effectiveness under the Securities Act of any post-effective
          amendment filed pursuant to Section 2(d)(i);

PROVIDED, that if such Notice and Questionnaire is delivered during a Deferral
Period, the Company shall so inform the Holder delivering such Notice and
Questionnaire and shall take the actions set forth in clauses (i), (ii) and
(iii) above upon expiration of the Deferral Period in accordance with Section
3(h). Notwithstanding anything contained herein to the contrary, (i) the Company
shall be under no obligation to name any Holder that is not a Notice Holder as a
selling securityholder in any Registration Statement or related Prospectus and
(ii) the Amendment Effectiveness Deadline Date shall be extended by up to ten
(10) Business Days from the expiration of a Deferral Period (and the Company
shall incur no obligation to pay Liquidated Damages during such extension or
during such Deferral Period) if such Deferral Period shall be in effect on the
Amendment Effectiveness Deadline Date.

          (e) The parties hereto agree that the Holders of Registrable
Securities will suffer damages, and that it would not be feasible to ascertain
the extent of such damages with precision, if, other than as permitted
hereunder,

                  (i) the Initial Shelf Registration Statement has not been
         filed on or prior to the Filing Deadline Date,

                 (ii) the Initial Shelf Registration Statement has not been
         declared effective under the Securities Act on or prior to the
         Effectiveness Deadline Date,

                (iii) the Company has failed to perform its obligations set
         forth in Section 2(d)(i) within the time period required therein,

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                 (iv) any post-effective amendment to a Shelf Registration
         Statement filed pursuant to Section 2(d)(i) has not become effective
         under the Securities Act on or prior to the Amendment Effectiveness
         Deadline Date, or

                  (v) the aggregate duration of Deferral Periods in any period
         exceeds the number of days permitted in respect of such period pursuant
         to Section 3(h) hereof.

Each event described in any of the foregoing clauses (i) through (v) is
individually referred to herein as an "EVENT." For purposes of this Agreement,
each Event set forth above shall begin and end on the dates set forth in the
table set forth below:

<Table>
<Caption>

              Type of
              Event by                            Beginning                           Ending
               Clause                               Date                               Date
------------------------------------- ---------------------------------- ----------------------------------
<S>           <C>                     <C>                                <C>

                (i)                   Filing Deadline Date               the date the Initial Shelf
                                                                         Registration Statement is filed

                (ii)                  Effectiveness Deadline Date        the date the Initial Shelf
                                                                         Registration Statement becomes
                                                                         effective under the Securities
                                                                         Act

               (iii)                  the date by which the Company is   the date the Company performs
                                      required to perform its            its obligations set forth in
                                      obligations under Section 2(d)     Section 2(d)

                (iv)                  the Amendment Effectiveness        the date the applicable
                                      Deadline Date                      post-effective amendment to a
                                                                         Shelf Registration Statement
                                                                         becomes effective under the
                                                                         Securities Act

                (v)                   the date on which the aggregate    termination of the Deferral
                                      duration of Deferral Periods in    Period that caused the limit on
                                      any period exceeds the number of   the aggregate duration of
                                      days permitted by Section 3(h)     Deferral Periods to be exceeded
</Table>

For purposes of this Agreement, Events shall begin on the dates set forth in the
table above and shall continue until the ending dates set forth in the table
above.

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         Commencing on (and including) any date that an Event has begun and
ending on (but excluding) the next date on which there are no Events that have
occurred and are continuing (a "DAMAGES ACCRUAL PERIOD"), the Company shall pay,
as liquidated damages and not as a penalty, to Record Holders of Registrable
Securities an amount (the "LIQUIDATED DAMAGES AMOUNT") accruing, for each day in
the Damages Accrual Period, (i) in respect of any Debenture, at a rate per annum
equal to 0.25% for the first 90 day period after the occurrence of such an Event
and 0.5% thereafter, of the aggregate principal amount of such Debenture and
(ii) in respect of each share of Underlying Common Stock at a rate per annum
equal to 0.25% for the first 90 day period after the occurrence of such an Event
and 0.5% thereafter, on the Conversion Price on such date, as the case may be;
PROVIDED that in the case of a Damages Accrual Period that is in effect solely
as a result of an Event of the type described in clause (iii) or (iv) of the
preceding paragraph, such Liquidated Damages Amount shall be paid only to the
Holders (as set forth in the succeeding paragraph) that have delivered Notices
and Questionnaires that caused the Company to incur the obligations set forth in
Section 2(d) the non-performance of which is the basis of such Event. In
calculating the Liquidated Damages Amount on any date on which no Debentures are
outstanding, the Conversion Price and the Liquidated Damages Amount payable with
respect to shares of Common Stock which are Registrable Securities, shall be
calculated as if the Debentures were still outstanding. Notwithstanding the
foregoing, no Liquidated Damages Amount shall accrue as to any Registrable
Security from and after the earlier of (x) the date such security is no longer a
Registrable Security and (y) expiration of the Effectiveness Period. The rate of
accrual of the Liquidated Damages Amount with respect to any period shall not
exceed the rate provided for in this paragraph notwithstanding the occurrence of
multiple concurrent Events.

         The Liquidated Damages Amount shall accrue from the first day of the
applicable Damages Accrual Period, and shall be payable on each Damages Payment
Date during the Damage Accrual Period (and on the Damages Payment Date next
succeeding the end of the Damages Accrual Period if the Damage Accrual Period
does not end on a Damages Payment Date) to the Record Holders of the Registrable
Securities entitled thereto; PROVIDED that any Liquidated Damages Amount accrued
with respect to any Debenture or portion thereof redeemed by the Company on a
redemption date or converted into Underlying Common Stock on a conversion date
prior to the Damages Payment Date, shall, in any such event, be paid instead to
the Holder who submitted such Debenture or portion thereof for redemption or
conversion on the applicable redemption date or conversion date, as the case may
be, on such date (or promptly following the conversion date, in the case of
conversion); PROVIDED FURTHER, that, in the case of an Event of the type
described in clause (iii) or (iv) of the first paragraph of this Section 2(e),
such Liquidated Damages Amount shall be paid only to the Holders entitled
thereto pursuant to such first paragraph by check mailed to the address set
forth in the Notice and Questionnaire delivered by such Holder. The Trustee
shall be entitled, on behalf of registered holders of Debentures or Underlying
Common Stock, to seek any available remedy for the enforcement of this
Agreement, including for the payment of such Liquidated Damages Amount.
Notwithstanding the foregoing, the parties agree that the sole damages payable
for a violation of the terms of this Agreement

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with respect to which liquidated damages are expressly provided shall be such
liquidated damages. Nothing shall preclude any Holder from pursuing or obtaining
specific performance or other equitable relief with respect to this Agreement.

         All of the Company's obligations set forth in this Section 2(e) that
are outstanding with respect to any Registrable Security at the time such
security ceases to be a Registrable Security shall survive until such time as
all such obligations with respect to such security have been satisfied in full
(notwithstanding termination of this Agreement pursuant to Section 8(k)).

         The parties hereto agree that the liquidated damages provided for in
this Section 2(e) constitute a reasonable estimate of the damages that may be
incurred by Holders of Registrable Securities by reason of the failure of the
Shelf Registration Statement to be filed or declared effective or available for
effecting resales of Registrable Securities in accordance with the provisions
hereof.

         SECTION 3. REGISTRATION PROCEDURES. In connection with the registration
obligations of the Company under Section 2 hereof, during the Effectiveness
Period, the Company shall:

                  (a) Prepare and file with the SEC a Registration Statement or
         Registration Statements on any appropriate form under the Securities
         Act available for the sale of the Registrable Securities by the Holders
         thereof in accordance with the intended method or methods of
         distribution thereof, and use its reasonable best efforts to cause each
         such Registration Statement to become effective and remain effective as
         provided herein; PROVIDED that before filing any Registration Statement
         or Prospectus or any amendments or supplements thereto with the SEC
         (but excluding reports filed with the SEC under the Exchange Act),
         furnish to the Initial Purchaser and the Special Counsel of such
         offering, if any, copies of all such documents proposed to be filed at
         least three (3) Business Days prior to the filing of such Registration
         Statement or amendment thereto or Prospectus or supplement thereto.

                  (b) Subject to Section 3(h), prepare and file with the SEC
         such amendments and post-effective amendments to each Registration
         Statement as may be necessary to keep such Registration Statement
         continuously effective for the applicable period specified in Section
         2(a); cause the related Prospectus to be supplemented by any required
         prospectus supplement, and as so supplemented to be filed pursuant to
         Rule 424 (or any similar provisions then in force) under the Securities
         Act; and use its reasonable best efforts to comply with the provisions
         of the Securities Act applicable to it with respect to the disposition
         of all securities covered by such Registration Statement during the
         Effectiveness Period in accordance with the intended methods of
         disposition by the sellers thereof set forth in such Registration
         Statement as so amended or such Prospectus as so supplemented.

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                  (c) As promptly as practicable give notice to the Notice
         Holders, the Initial Purchaser and the Special Counsel, (i) when any
         Prospectus, prospectus supplement, Registration Statement or
         post-effective amendment to a Registration Statement has been filed
         with the SEC and, with respect to a Registration Statement or any
         post-effective amendment, when the same has been declared effective,
         (ii) of any request, following the effectiveness of the Initial Shelf
         Registration Statement under the Securities Act, by the SEC or any
         other federal or state governmental authority for amendments or
         supplements to any Registration Statement or related Prospectus or for
         additional information relating to the Shelf Registration Statement,
         (iii) of the issuance by the SEC or any other federal or state
         governmental authority of any stop order suspending the effectiveness
         of any Registration Statement or the initiation or threatening of any
         proceedings for that purpose, (iv) of the receipt by the Company of any
         notification with respect to the suspension of the qualification or
         exemption from qualification of any of the Registrable Securities for
         sale in any jurisdiction or the initiation or threatening of any
         proceeding for such purpose, (v) of the occurrence of, but not the
         nature of or details concerning, a Material Event and (vi) of the
         determination by the Company that a post-effective amendment to a
         Registration Statement will be filed with the SEC, which notice may, at
         the discretion of the Company (or as required pursuant to Section
         3(h)), state that it constitutes a Deferral Notice, in which event the
         provisions of Section 3(h) shall apply.

                  (d) Use its reasonable best efforts to obtain the withdrawal
         of any order suspending the effectiveness of a Registration Statement
         or the lifting of any suspension of the qualification (or exemption
         from qualification) of any of the Registrable Securities for sale in
         any jurisdiction in which they have been qualified for sale, in either
         case at the earliest possible moment, and provide immediate notice to
         each Notice Holder and the Initial Purchaser of the withdrawal of any
         such order.

                  (e) As promptly as practicable furnish to each Notice Holder,
         the Special Counsel and the Initial Purchaser, upon request and without
         charge, at least one (1) conformed copy of the Registration Statement
         and any amendment thereto, including exhibits and if requested, all
         documents incorporated or deemed to be incorporated therein by
         reference.

                  (f) During the Effectiveness Period, deliver to each Notice
         Holder, the Special Counsel, if any, and the Initial Purchaser, in
         connection with any sale of Registrable Securities pursuant to a
         Registration Statement, without charge, as many copies of the
         Prospectus or Prospectuses relating to such Registrable Securities
         (including each preliminary prospectus) and any amendment or supplement
         thereto as such Notice Holder may reasonably request; and the Company
         hereby consents (except during such periods that a Deferral Notice is
         outstanding and has not been revoked) to the use of such Prospectus or
         each amendment or supplement thereto by each Notice Holder in

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         connection with any offering and sale of the Registrable Securities
         covered by such Prospectus or any amendment or supplement thereto in
         the manner set forth therein.

                  (g) Prior to any public offering of the Registrable Securities
         pursuant to a Registration Statement, use its reasonable best efforts
         to register or qualify or cooperate with the Notice Holders and the
         Special Counsel in connection with the registration or qualification
         (or exemption from such registration or qualification) of such
         Registrable Securities for offer and sale under the securities or Blue
         Sky laws of such jurisdictions within the United States as any Notice
         Holder reasonably requests in writing (which request may be included in
         the Notice and Questionnaire); prior to any public offering of the
         Registrable Securities pursuant to the Shelf Registration Statement,
         use its reasonable best efforts to keep each such registration or
         qualification (or exemption therefrom) effective during the
         Effectiveness Period in connection with such Notice Holder's offer and
         sale of Registrable Securities pursuant to such registration or
         qualification (or exemption therefrom) and do any and all other acts or
         things reasonably necessary or advisable to enable the disposition in
         such jurisdictions of such Registrable Securities in the manner set
         forth in the relevant Registration Statement and the related
         Prospectus; PROVIDED that the Company will not be required to (i)
         qualify as a foreign corporation or as a dealer in securities in any
         jurisdiction where it would not otherwise be required to qualify but
         for this Agreement or (ii) take any action that would subject it to
         general service of process in suits or to taxation in any such
         jurisdiction where it is not then so subject.

                  (h) Upon (A) the issuance by the SEC of a stop order
         suspending the effectiveness of the Shelf Registration Statement or the
         initiation of proceedings with respect to the Shelf Registration
         Statement under Section 8(d) or 8(e) of the Securities Act, (B) the
         occurrence of any event or the existence of any fact (a "MATERIAL
         EVENT") as a result of which any Registration Statement shall contain
         any untrue statement of a material fact or omit to state any material
         fact required to be stated therein or necessary to make the statements
         therein not misleading, or any Prospectus shall contain any untrue
         statement of a material fact or omit to state any material fact
         required to be stated therein or necessary to make the statements
         therein, in the light of the circumstances under which they were made,
         not misleading, or (C) the occurrence or existence of any pending
         corporate development that, in the reasonable discretion of the
         Company, makes it appropriate to suspend the availability of the Shelf
         Registration Statement and the related Prospectus:

                     (i) in the case of clause (B) above, subject to the next
               sentence, as promptly as practicable prepare and file, if
               necessary pursuant to applicable law, a post-effective amendment
               to such Registration Statement or a supplement to the related
               Prospectus or any document incorporated therein by reference or
               file any other required document that would be incorporated by
               reference into such

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               Registration Statement and Prospectus so that such Registration
               Statement does not contain any untrue statement of a material
               fact or omit to state any material fact required to be stated
               therein or necessary to make the statements therein not
               misleading, and such Prospectus does not contain any untrue
               statement of a material fact or omit to state any material fact
               required to be stated therein or necessary to make the statements
               therein, in the light of the circumstances under which they were
               made, not misleading, as thereafter delivered to the purchasers
               of the Registrable Securities being sold thereunder, and, in the
               case of a post-effective amendment to a Registration Statement,
               subject to the next sentence, use its reasonable best efforts to
               cause it to be declared effective as promptly as is practicable,
               and

                     (ii) give notice to the Notice Holders, and the Special
               Counsel, if any, that the availability of the Shelf Registration
               Statement is suspended (a "DEFERRAL NOTICE") and, upon receipt
               of any Deferral Notice, each Notice Holder agrees not to sell
               any Registrable Securities pursuant to the Registration
               Statement until such Notice Holder's receipt of copies of the
               supplemented or amended Prospectus provided for in clause (i)
               above, or until it is advised in writing by the Company that the
               Prospectus may be used, and has received copies of any
               additional or supplemental filings that are incorporated or
               deemed incorporated by reference in such Prospectus.

The Company will use its reasonable best efforts to ensure that the use of the
Prospectus may be resumed (x) in the case of clause (A) above, as promptly as is
practicable, (y) in the case of clause (B) above, as soon as, in the sole
judgment of the Company, public disclosure of such Material Event would not be
prejudicial to or contrary to the interests of the Company or, if necessary to
avoid unreasonable burden or expense, as soon as practicable thereafter and (z)
in the case of clause (C) above, as soon as in the reasonable discretion of the
Company, such suspension is no longer appropriate. The Company shall be entitled
to exercise its right under this Section 3(h) to suspend the availability of the
Shelf Registration Statement or any Prospectus, without incurring or accruing
any obligation to pay liquidated damages pursuant to Section 2(e) (the "DEFERRAL
PERIOD"); PROVIDED that the aggregate duration of any Deferral Periods shall not
exceed 30 days in any three month period (or 60 days in any three month period
in the event of a Material Event pursuant to which the Company has delivered a
second notice as required below) or 90 days in any twelve (12) month period;
PROVIDED that in the case of a Material Event relating to an acquisition or a
probable acquisition or financing, recapitalization, business combination or
other similar transaction, the Company may, without incurring any obligation to
pay liquidated damages pursuant to Section 2(e), deliver to Notice Holders a
second notice to the effect set forth above, which shall have the effect of
extending the Deferral Period by up to an additional 30 days, or such shorter
period of time as is specified in such second notice.

                                       13
<Page>

                  (i) If reasonably requested in writing in connection with a
         disposition of Registrable Securities pursuant to a Registration
         Statement, make reasonably available for inspection during normal
         business hours by a representative for the Notice Holders of such
         Registrable Securities, any broker-dealers, attorneys and accountants
         retained by such Notice Holders, and any attorneys or other agents
         retained by a broker-dealer engaged by such Notice Holders, all
         relevant financial and other records and pertinent corporate documents
         and properties of the Company and its subsidiaries, and cause the
         appropriate officers, directors and employees of the Company and its
         subsidiaries to make reasonably available for inspection during normal
         business hours on reasonable notice all relevant information reasonably
         requested by such representative for the Notice Holders, or any such
         broker-dealers, attorneys or accountants in connection with such
         disposition, in each case as is customary for similar "due diligence"
         examinations; PROVIDED that such persons shall first agree in writing
         with the Company that any information that is reasonably designated by
         the Company as confidential at the time of delivery of such information
         shall be kept confidential by such persons and shall be used solely for
         the purposes of exercising rights under this Agreement, unless (i)
         disclosure of such information is required by court or administrative
         order or is necessary to respond to inquiries of regulatory
         authorities, (ii) disclosure of such information is required by law
         (including any disclosure requirements pursuant to federal securities
         laws in connection with the filing of any Registration Statement or the
         use of any prospectus referred to in this Agreement), (iii) such
         information becomes generally available to the public other than as a
         result of a disclosure or failure to safeguard by any such person or
         (iv) such information becomes available to any such person from a
         source other than the Company and such source is not bound by a
         confidentiality agreement, and PROVIDED FURTHER that the foregoing
         inspection and information gathering shall, to the greatest extent
         possible, be coordinated on behalf of all the Notice Holders and the
         other parties entitled thereto by the counsel referred to in Section 5.
         Any person legally compelled to disclose any such confidential
         information made available for inspection shall provide the Company
         with prompt prior written notice of such requirement so that the
         Company may seek a protective order or other appropriate remedy.

                  (j) Comply with all applicable rules and regulations of the
         SEC and make generally available to its securityholders earning
         statements (which need not be audited) satisfying the provisions of
         Section 11(a) of the Securities Act and Rule 158 thereunder (or any
         similar rule promulgated under the Securities Act) for a 12-month
         period commencing on the first day of the first fiscal quarter of the
         Company commencing after the effective date of a Registration
         Statement, which statements shall be made available no later than 45
         days after the end of the 12-month period or 90 days if the 12-month
         period coincides with the fiscal year of the Company.

                  (k) Cooperate with each Notice Holder to facilitate the timely
         preparation and delivery of certificates representing Registrable
         Securities sold or to be sold pursuant to a

                                       14
<Page>

         Registration Statement, which certificates shall not bear any
         restrictive legends, and cause such Registrable Securities to be in
         such denominations as are permitted by the Indenture and registered in
         such names as such Notice Holder may request in writing at least two
         (2) Business Day prior to any sale of such Registrable Securities.

                  (l) Provide a CUSIP number for all Registrable Securities
         covered by each Registration Statement not later than the effective
         date of such Registration Statement and provide the Trustee and the
         transfer agent for the Common Stock with printed certificates for the
         Registrable Securities that are in a form eligible for deposit with The
         Depository Trust Company.

                  (m) Cooperate and assist in any filings required to be made
         with the National Association of Securities Dealers, Inc.

                  (n) Upon (i) the filing of the Initial Shelf Registration
         Statement and (ii) the effectiveness of the Initial Shelf Registration
         Statement, announce the same, in each case by release to Reuters
         Economic Services and Bloomberg Business News.

         SECTION 4. HOLDER'S OBLIGATIONS. Each Holder agrees, by acquisition of
the Registrable Securities, that no Holder shall be entitled to sell any of such
Registrable Securities pursuant to a Registration Statement or to receive a
Prospectus relating thereto, unless such Holder has furnished the Company with a
Notice and Questionnaire as required pursuant to Section 2(d) hereof (including
the information required to be included in such Notice and Questionnaire) and
the information set forth in the next sentence. Each Notice Holder agrees
promptly to furnish to the Company all information required to be disclosed in
order to make the information previously furnished to the Company by such Notice
Holder not misleading and any other information regarding such Notice Holder and
the distribution of such Registrable Securities as the Company may from time to
time reasonably request. Any sale of any Registrable Securities by any Holder
shall constitute a representation and warranty by such Holder that the
information relating to such Holder and its plan of distribution is as set forth
in the Prospectus delivered by such Holder in connection with such disposition,
that such Prospectus does not as of the time of such sale contain any untrue
statement of a material fact relating to or provided by such Holder or its plan
of distribution and that such Prospectus does not as of the time of such sale
omit to state any material fact relating to or provided by such Holder or its
plan of distribution necessary to make the statements in such Prospectus, in the
light of the circumstances under which they were made, not misleading.

         SECTION 5. REGISTRATION EXPENSES. The Company shall bear all fees and
expenses incurred in connection with the performance by the Company of its
obligations under Sections 2 and 3 of this Agreement whether or not any
Registration Statement is declared effective. Such fees and expenses shall
include, without limitation, (i) all registration and filing fees (including,
without limitation, fees and expenses (x) with respect to filings required to be
made with the

                                       15
<Page>

National Association of Securities Dealers, Inc. and (y) of compliance with
federal and state securities or Blue Sky laws (including, without limitation,
reasonable fees and disbursements of the Special Counsel in connection with Blue
Sky qualifications of the Registrable Securities under the laws of such
jurisdictions as Notice Holders of a majority of the Registrable Securities
being sold pursuant to a Registration Statement may designate), (ii) printing
expenses (including, without limitation, expenses of printing certificates for
Registrable Securities in a form eligible for deposit with The Depository Trust
Company), (iii) duplication expenses relating to copies of any Registration
Statement or Prospectus delivered to any Holders hereunder, (iv) fees and
disbursements of counsel for the Company in connection with the Shelf
Registration Statement, (v) reasonable fees and disbursements of the Trustee and
its counsel and of the registrar and transfer agent for the Common Stock and
(vi) any Securities Act liability insurance obtained by the Company in its sole
discretion. In addition, the Company shall pay the internal expenses of the
Company (including, without limitation, all salaries and expenses of officers
and employees performing legal or accounting duties), the expense of any annual
audit, the fees and expenses incurred in connection with the listing by the
Company of the Registrable Securities on any securities exchange on which
similar securities of the Company are then listed and the fees and expenses of
any person, including special experts, retained by the Company. Notwithstanding
the provisions of this Section 5, each seller of Registrable Securities shall
pay selling expenses, including any underwriting discount and commissions, and
all registration expenses to the extent required by applicable law.

         SECTION 6.  INDEMNIFICATION AND CONTRIBUTION.

          (a) INDEMNIFICATION BY THE COMPANY. The Company agrees to indemnify
and hold harmless each Notice Holder, each person, if any, who controls any
Notice Holder within the meaning of either Section 15 of the Securities Act or
Section 20 of the Exchange Act, from and against any and all losses, claims,
damages and liabilities (including, without limitation, any legal or other
expenses reasonably incurred in connection with defending or investigating any
such action or claim) caused by any untrue statement or alleged untrue statement
of a material fact contained in any Registration Statement or any amendment
thereof, any preliminary prospectus or the Prospectus (as amended or
supplemented if the Company shall have furnished any amendments or supplements
thereto), caused by any omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein
not misleading, except insofar as such losses, claims, damages or liabilities
are caused by any such untrue statement or omission or alleged untrue statement
or omission based upon information relating to any Holder furnished to the
Company in writing by such Holder expressly for use therein; PROVIDED that the
indemnification contained in this paragraph shall not inure to the benefit of
any Holder (or to the benefit of any person controlling such Holder) on account
of any such losses, claims, damages or liabilities caused by any untrue
statement or alleged untrue statement or omission or alleged omission made in
any preliminary prospectus provided in each case the Company has performed its
obligations under Section 3(a) hereof if either (A) (i) such Holder failed to
send or deliver a copy of the Prospectus with or prior to the delivery of
written

                                       16
<Page>

confirmation of the sale by such Holder to the person asserting the claim from
which such losses, claims, damages or liabilities arise and (ii) the Prospectus
would have corrected such untrue statement or alleged untrue statement or such
omission or alleged omission, or (B) (x) such untrue statement or alleged untrue
statement, omission or alleged omission is corrected in an amendment or
supplement to the Prospectus and (y) having previously been furnished by or on
behalf of the Company with copies of the Prospectus as so amended or
supplemented, such Holder thereafter fails to deliver such Prospectus as so
amended or supplemented, with or prior to the delivery of written confirmation
of the sale of a Registrable Security to the person asserting the claim from
which such losses, claims, damages or liabilities arise.

          (b) INDEMNIFICATION BY HOLDERS. Each Holder agrees severally and not
jointly to indemnify and hold harmless the Company and its directors, its
officers and each person, if any, who controls the Company (within the meaning
of either Section 15 of the Securities Act or Section 20 of the Exchange Act) or
any other Holder, to the same extent as the foregoing indemnity from the Company
to such Holder, but only with reference to information relating to such Holder
furnished to the Company in writing by such Holder expressly for use in such
Registration Statement or Prospectus or amendment or supplement thereto. In no
event shall the liability of any Holder hereunder be greater in amount than the
dollar amount of the proceeds received by such Holder upon the sale of the
Registrable Securities pursuant to the Registration Statement giving rise to
such indemnification obligation.

          (c) CONDUCT OF INDEMNIFICATION PROCEEDINGS. In case any proceeding
(including any governmental investigation) shall be instituted involving any
person in respect of which indemnity may be sought pursuant to Section 6(a) or
6(b) hereof, such person (the "INDEMNIFIED PARTY") shall promptly notify the
person against whom such indemnity may be sought (the "INDEMNIFYING PARTY") in
writing and the indemnifying party, upon request of the indemnified party, shall
retain counsel reasonably satisfactory to the indemnified party to represent the
indemnified party and any others the indemnifying party may designate in such
proceeding and shall pay the reasonable fees and disbursements of such counsel
related to such proceeding. In any such proceeding, any indemnified party shall
have the right to retain its own counsel, but the fees and expenses of such
counsel shall be at the expense of such indemnified party unless (i) the
indemnifying party and the indemnified party shall have mutually agreed to the
retention of such counsel or (ii) the named parties to any such proceeding
(including any impleaded parties) include both the indemnifying party and the
indemnified party and representation of both parties by the same counsel would
be inappropriate due to actual or potential differing interests between them. It
is understood that the indemnifying party shall not, in respect of the legal
expenses of any indemnified party in connection with any proceeding or related
proceedings in the same jurisdiction, be liable for the fees and expenses of
more than one separate firm (in addition to any local counsel) for all such
indemnified parties and that all such fees and expenses shall be reimbursed as
they are incurred. Such firm shall be designated in writing by, in the case of
parties indemnified pursuant to Section 6(a), the Holders of a majority (with
Holders of Debentures deemed to be the Holders, for purposes of determining such
majority, of the number

                                       17
<Page>

of shares of Underlying Common Stock into which such Debentures are or would be
convertible as of the date on which such designation is made) of the Registrable
Securities covered by the Registration Statement held by Holders that are
indemnified parties pursuant to Section 6(a) and, in the case of parties
indemnified pursuant to Section 6(b), the Company. The indemnifying party shall
not be liable for any settlement of any proceeding effected without its written
consent, but if settled with such consent or if there be a final judgment for
the plaintiff, the indemnifying party agrees to indemnify the indemnified party
from and against any loss or liability by reason of such settlement or judgment.
Notwithstanding the foregoing sentence, if at any time an indemnified party
shall have requested an indemnifying party to reimburse the indemnified party
for fees and expenses of counsel as contemplated by the second and third
sentences of this paragraph, the indemnifying party agrees that it shall be
liable for any settlement of any proceeding effected without its written consent
if (i) such settlement is entered into more than 30 days after receipt by such
indemnifying party of the aforesaid request and (ii) such indemnifying party
shall not have reimbursed the indemnified party in accordance with such request
prior to the date of such settlement. No indemnifying party shall, without the
prior written consent of the indemnified party, effect any settlement of any
pending or threatened proceeding in respect of which any indemnified party is or
could have been a party and indemnity could have been sought hereunder by such
indemnified party, unless such settlement includes an unconditional release of
such indemnified party from all liability on claims that are the subject matter
of such proceeding.

          (d) CONTRIBUTION. To the extent that the indemnification provided for
in Section 6(a) or 6(b) is unavailable to an indemnified party or insufficient
in respect of any losses, claims, damages or liabilities referred to therein,
then each indemnifying party under such paragraph, in lieu of indemnifying such
indemnified party thereunder, shall contribute to the amount paid or payable by
such indemnified party as a result of such losses, claims, damages or
liabilities (i) in such proportion as is appropriate to reflect the relative
benefits received by the indemnifying party or parties on the one hand and the
indemnified party or parties on the other hand or (ii) if the allocation
provided by clause (i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred
to in clause (i) above but also the relative fault of the indemnifying party or
parties on the one hand and of the indemnified party or parties on the other
hand in connection with the statements or omissions that resulted in such
losses, claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative benefits received by the Company shall be deemed to
be equal to the total net proceeds from the initial placement pursuant to the
Purchase Agreement (before deducting expenses) of the Registrable Securities to
which such losses, claims, damages or liabilities relate. The relative benefits
received by any Holder shall be deemed to be equal to the value of receiving
Registrable Securities that are registered under the Securities Act. The
relative fault of the Holders on the one hand and the Company on the other hand
shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission
to state a material fact relates to information supplied by the Holders or by
the Company, and the parties' relative intent, knowledge, access to information
and opportunity to

                                       18
<Page>

correct or prevent such statement or omission. The Holders' respective
obligations to contribute pursuant to this paragraph 6 are several in proportion
to the respective number of Registrable Securities they have sold pursuant to a
Registration Statement, and not joint.

         The parties hereto agree that it would not be just and equitable if
contribution pursuant to this Section 6(d) were determined by PRO RATA
allocation or by any other method of allocation that does not take into account
the equitable considerations referred to in the immediately preceding paragraph.
The amount paid or payable by an indemnified party as a result of the losses,
claims, damages or liabilities referred to in the immediately preceding
paragraph shall be deemed to include, subject to the limitations set forth
above, any legal or other expenses reasonably incurred by such indemnified party
in connection with investigating or defending any such action or claim.
Notwithstanding this Section 6, no indemnifying party that is a selling Holder
shall be required to contribute any amount in excess of the amount by which the
total price at which the Registrable Securities sold by it and distributed to
the public were offered to the public exceeds the amount of any damages that
such indemnifying party has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation.

          (e) The remedies provided for in this Section 6 are not exclusive and
shall not limit any rights or remedies which may otherwise be available to an
indemnified party at law or in equity, hereunder, under the Purchase Agreement
or otherwise.

          (f) The indemnity and contribution provisions contained in this
Section 6 shall remain operative and in full force and effect regardless of (i)
any termination of this Agreement, (ii) any investigation made by or on behalf
of any Holder, any person controlling any Holder or any affiliate of any Holder
or by or on behalf of the Company, its officers or directors or any person
controlling the Company and (iii) the sale of any Registrable Securities by any
Holder.

         SECTION 7. INFORMATION REQUIREMENTS. The Company covenants that, if at
any time before the end of the Effectiveness Period the Company is not subject
to the reporting requirements of the Exchange Act, it will cooperate with any
Holder and take such further reasonable action as any Holder may reasonably
request in writing (including, without limitation, making such reasonable
representations as any such Holder may reasonably request), all to the extent
required from time to time to enable such Holder to sell Registrable Securities
without registration under the Securities Act within the limitation of the
exemptions provided by Rule 144 and Rule 144A under the Securities Act and
customarily taken in connection with sales pursuant to such exemptions. Upon the
written request of any Holder, the Company shall deliver to such Holder a
written statement as to whether it has complied with such filing requirements,
unless such a statement has been included in the Company's most recent report
filed pursuant to Section 13 or Section 15(d) of Exchange Act. Notwithstanding
the foregoing, nothing in this

                                       19
<Page>

Section 7 shall be deemed to require the Company to register any of its
securities (other than the Common Stock) under any section of the Exchange Act.

         SECTION 8.  MISCELLANEOUS.

         (a) NO CONFLICTING AGREEMENTS. The Company is not, as of the date
hereof, a party to, nor shall it, on or after the date of this Agreement, enter
into, any agreement with respect to its securities that conflicts with the
rights granted to the Holders in this Agreement. The Company represents and
warrants that the rights granted to the Holders hereunder do not in any way
conflict with the rights granted to the holders of the Company's securities
under any other agreements.

         (b) AMENDMENTS AND WAIVERS. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given, unless the Company has obtained the written consent of Holders
of a majority of the then outstanding Underlying Common Stock constituting
Registrable Securities (with Holders of Debentures deemed to be the Holders, for
purposes of this Section, of the number of outstanding shares of Underlying
Common Stock into which such Debentures are or would be convertible as of the
date on which such consent is requested). Notwithstanding the foregoing, a
waiver or consent to depart from the provisions hereof with respect to a matter
that relates exclusively to the rights of Holders whose securities are being
sold pursuant to a Registration Statement and that does not directly or
indirectly affect the rights of other Holders may be given by Holders of at
least a majority of the Registrable Securities being sold by such Holders
pursuant to such Registration Statement; PROVIDED that the provisions of this
sentence may not be amended, modified or supplemented except in accordance with
the provisions of the immediately preceding sentence. Notwithstanding the
foregoing sentence, (i) this Agreement may be amended by written agreement
signed by the Company and the Initial Purchaser, without the consent of the
Holders of Registrable Securities, to cure any ambiguity or to correct or
supplement any provision contained herein that may be defective or inconsistent
with any other provision contained herein, or to make such other provisions in
regard to matters or questions arising under this Agreement that shall not
adversely affect the interests of the Holders of Registrable Securities. Each
Holder of Registrable Securities outstanding at the time of any such amendment,
modification, supplement, waiver or consent or thereafter shall be bound by any
such amendment, modification, supplement, waiver or consent effected pursuant to
this Section 8(b), whether or not any notice, writing or marking indicating such
amendment, modification, supplement, waiver or consent appears on the
Registrable Securities or is delivered to such Holder.

          (c) NOTICES. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand delivery, by telecopier, by
courier guaranteeing overnight delivery or by first-class mail, return receipt
requested, and shall be deemed given (i) when made, if made by hand delivery,
(ii) upon confirmation, if made by telecopier, (iii) one (1) Business Day

                                       20
<Page>

after being deposited with such courier, if made by overnight courier or (iv) on
the date indicated on the notice of receipt, if made by first-class mail, to the
parties as follows:

                   (i) if to a Holder, at the most current address given by such
          Holder to the Company in a Notice and Questionnaire or any amendment
          thereto;

                  (ii)  if to the Company, to:

                        Aon Corporation
                        200 East Randolph Street
                        Chicago, Illinois 60601
                        Attention: General Counsel
                        Telecopy No.: (312) 381-6165

                        and

                        Sidley Austin Brown & Wood LLP
                        787 Seventh Avenue
                        New York, New York 10016
                        Attention: Michael Kohler
                        Telecopy No.: (212) 839-5599

                (iii)   if to the Initial Purchaser, to:

                        Morgan Stanley & Co. Incorporated
                        1585 Broadway
                        New York, New York
                        Attention: Equity Capital Markets
                        Telecopy No.: (212) 761-0538

or to such other address as such person may have furnished to the other persons
identified in this Section 8(c) in writing in accordance herewith.

          (d) APPROVAL OF HOLDERS. Whenever the consent or approval of Holders
of a specified percentage of Registrable Securities is required hereunder,
Registrable Securities held by the Company or its affiliates (as such term is
defined in Rule 405 under the Securities Act) (other than the Initial Purchaser
or subsequent Holders if such subsequent Holders are deemed to be such
affiliates solely by reason of their holdings of such Registrable Securities)
shall not be counted in determining whether such consent or approval was given
by the Holders of such required percentage.

                                       21
<Page>

          (e) SUCCESSORS AND ASSIGNS. Any person who purchases any Registrable
Securities from the Initial Purchaser shall be deemed, for purposes of this
Agreement, to be an assignee of the Initial Purchaser. This Agreement shall
inure to the benefit of and be binding upon the successors and assigns of each
of the parties and shall inure to the benefit of and be binding upon each Holder
of any Registrable Securities, PROVIDED that nothing herein shall be deemed to
permit any assignment, transfer or other disposition of Registrable Securities
in violation of the terms of the Indenture. If any transferee of any Holder
shall acquire Registrable Securities, in any manner, whether by operation of law
or otherwise, such Registrable Securities shall be held subject to all of the
terms of this Agreement, and by taking and holding such Registrable Securities,
such person shall be conclusively deemed to have agreed to be bound by and to
perform all of the terms and provisions of this Agreement and such person shall
be entitled to receive the benefits hereof.

          (f) COUNTERPARTS. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be original and all of which taken together
shall constitute one and the same agreement.

          (g) HEADINGS. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

          (h) GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

          (i) SEVERABILITY. If any term provision, covenant or restriction of
this Agreement is held to be invalid, illegal, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired
or invalidated thereby, and the parties hereto shall use their best efforts to
find and employ an alternative means to achieve the same or substantially the
same result as that contemplated by such term, provision, covenant or
restriction, it being intended that all of the rights and privileges of the
parties shall be enforceable to the fullest extent permitted by law.

          (j) ENTIRE AGREEMENT. This Agreement is intended by the parties as a
final expression of their agreement and is intended to be a complete and
exclusive statement of the agreement and understanding of the parties hereto in
respect of the subject matter contained herein and the registration rights
granted by the Company with respect to the Registrable Securities. Except as
provided in the Purchase Agreement, there are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein,
with respect to the registration rights granted by the Company with respect to
the Registrable Securities. This Agreement supersedes all prior agreements and
undertakings among the parties with respect to such registration rights. No
party hereto shall have any rights, duties or obligations other than those
specifically set forth in this Agreement. In no event will such methods of
distribution take the form of an underwritten offering of the Registrable
Securities without the prior agreement of the Company.

                                       22
<Page>

          (k) TERMINATION. This Agreement and the obligations of the parties
hereunder shall terminate upon the end of the Effectiveness Period, except for
any liabilities or obligations under Section 4, 5 or 6 hereof and the
obligations to make payments of and provide for liquidated damages under Section
2(e) hereof to the extent such damages accrue prior to the end of the
Effectiveness Period, each of which shall remain in effect in accordance with
its terms.

                                       23
<Page>

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

                                       Aon CORPORATION

                                       By:  /s/ Patrick G. Ryan
                                           -------------------------------------
                                           Name:  Patrick G. Ryan
                                           Title: Chairman and Chief Executive
                                                   Officer

Confirmed and accepted as of the date first above written:

MORGAN STANLEY & CO. INCORPORATED

By:  /s/ Trevor R. Burgess
   -------------------------------------
     Name:  Trevor R. Burgess
     Title: Vice President<Page>

                                                                  EXHIBIT 10 (x)

                                                                  EXECUTION COPY

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

                                  $437,500,000
                           THREE YEAR CREDIT AGREEMENT

                                      AMONG

                                AON CORPORATION,
                                  AS BORROWER,

                                  THE LENDERS,

                                  BANK ONE, NA,
                                    AS AGENT,

                                       AND

                                 CITIBANK, N.A.,
                               ABN AMRO BANK N.V.

                                       AND

                           FIRST UNION NATIONAL BANK,
                              AS SYNDICATION AGENTS

                                   DATED AS OF

                                FEBRUARY 8, 2002

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

                         BANC ONE CAPITAL MARKETS, INC.
                    SOLE LEAD ARRANGER AND SOLE BOOK MANAGER

<Page>

                                TABLE OF CONTENTS

<Table>
<S>                                                                              <C>
ARTICLE I DEFINITIONS.............................................................1

ARTICLE II THE CREDITS...........................................................12
2.1.    Commitment...............................................................12
2.2.    Required Payments; Termination...........................................12
2.3.    Ratable Loans............................................................12
2.4.    Types of Advances........................................................12
2.5.    Facility Fee; Utilization Fee; Reductions in Aggregate Commitment........12
2.6.    Minimum Amount of Each Advance...........................................13
2.7.    Optional Principal Payments..............................................13
2.8.    Method of Selecting Types and Interest Periods for New Advances..........13
2.9.    Conversion and Continuation of Outstanding Advances......................14
2.10.   Changes in Interest Rate, etc............................................14
2.11.   Rates Applicable After Default...........................................15
2.12.   Method of Payment........................................................15
2.13.   Noteless Agreement; Evidence of Indebtedness.............................15
2.14.   Telephonic Notices.......................................................16
2.15.   Interest Payment Dates; Interest and Fee Basis...........................16
2.16.   Notification of Advances, Interest Rates, Prepayments and Commitment
        Reductions...............................................................17
2.17.   Lending Installations....................................................17
2.18.   Non-Receipt of Funds by the Agent........................................17
2.19.   Replacement of Lender....................................................17

ARTICLE III YIELD PROTECTION; TAXES..............................................18
3.1.    Yield Protection.........................................................18
3.2.    Changes in Capital Adequacy Regulations..................................18
3.3.    Availability of Types of Advances........................................19
3.4.    Funding Indemnification..................................................19
3.5.    Taxes....................................................................19
3.6.    Lender Statements; Survival of Indemnity.................................21

ARTICLE IV CONDITIONS PRECEDENT..................................................22
4.1.    Effectiveness............................................................22
4.2.    Each Advance.............................................................23

ARTICLE V REPRESENTATIONS AND WARRANTIES.........................................23
5.1.    Corporate Existence and Standing.........................................23
5.2.    Authorization and Validity...............................................24
5.3.    Compliance with Laws and Contracts.......................................24
5.4.    Governmental Consents....................................................24
5.5.    Financial Statements.....................................................24
</Table>

                                       -i-
<Page>

<Table>
<S>                                                                              <C>
5.6.    Material Adverse Change..................................................25
5.7.    Taxes....................................................................25
5.8.    Litigation and Contingent Obligations....................................25
5.9.    ERISA....................................................................25
5.10.   Defaults.................................................................26
5.11.   Regulation U.............................................................26
5.12.   Investment Company; Public Utility Holding Company.......................26
5.13.   Ownership of Properties..................................................26
5.14.   Material Agreements......................................................26
5.15.   Environmental Laws.......................................................27
5.16.   Insurance................................................................27
5.17.   Insurance Licenses.......................................................27
5.18.   Solvency.................................................................27
5.19.   Disclosure...............................................................28

ARTICLE VI COVENANTS.............................................................28
6.1.    Financial Reporting......................................................28
6.2.    Use of Proceeds..........................................................29
6.3.    Notice of Default........................................................29
6.4.    Conduct of Business......................................................30
6.5.    Taxes....................................................................30
6.6.    Insurance................................................................30
6.7.    Compliance with Laws.....................................................30
6.8.    Maintenance of Properties................................................30
6.9.    Inspection...............................................................30
6.10.   Capital Stock and Dividends..............................................30
6.11.   Merger...................................................................31
6.12.   Liens....................................................................31
6.13.   Affiliates...............................................................32
6.14.   Change in Fiscal Year....................................................32
6.15.   Inconsistent Agreements..................................................32
6.16.   Sale of Assets...........................................................33
6.17.   Financial Covenants......................................................33
6.18.   ERISA....................................................................33

ARTICLE VII DEFAULTS.............................................................33

ARTICLE VIII ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES......................35
8.1.    Acceleration.............................................................35
8.2.    Amendments...............................................................35
8.3.    Preservation of Rights...................................................36

ARTICLE IX GENERAL PROVISIONS....................................................36
9.1.    Survival of Representations..............................................36
9.2.    Governmental Regulation..................................................36
9.3.    Headings.................................................................37
</Table>

                                      -ii-
<Page>

<Table>
<S>                                                                              <C>
9.4.    Entire Agreement.........................................................37
9.5.    Several Obligations; Benefits of this Agreement..........................37
9.6.    Expenses; Indemnification................................................37
9.7.    Numbers of Documents.....................................................37
9.8.    Accounting...............................................................38
9.9.    Severability of Provisions...............................................38
9.10.   Nonliability of Lenders..................................................38
9.11.   Confidentiality..........................................................38
9.12.   Disclosure...............................................................38

ARTICLE X THE AGENT..............................................................38
10.1.   Appointment..............................................................38
10.2.   Powers...................................................................39
10.3.   General Immunity.........................................................39
10.4.   No Responsibility for Loans, Recitals, etc...............................39
10.5.   Action on Instructions of Lenders........................................39
10.6.   Employment of Agents and Counsel.........................................40
10.7.   Reliance on Documents; Counsel...........................................40
10.8.   Agent's Reimbursement and Indemnification................................40
10.9.   Notice of Default........................................................41
10.10.  Rights as a Lender.......................................................41
10.11.  Lender Credit Decision...................................................41
10.12.  Successor Agent..........................................................41
10.13.  Agent and Arranger Fees..................................................42
10.14.  Delegation to Affiliates.................................................42
10.15.  Syndication Agents; Senior Managing Agents; Managing Agents..............42

ARTICLE XI SETOFF; RATABLE PAYMENTS..............................................42
11.1.   Setoff...................................................................42
11.2.   Ratable Payments.........................................................42

ARTICLE XII BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS....................43
12.1.   Successors and Assigns...................................................43
12.2.   Participations...........................................................43
12.3.   Assignments..............................................................44
12.4.   Dissemination of Information.............................................45
12.5.   Tax Treatment............................................................45

ARTICLE XIII NOTICES.............................................................45
13.1.   Giving Notice............................................................45
13.2.   Change of Address........................................................46

ARTICLE XIV COUNTERPARTS.........................................................46

ARTICLE XV CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY
TRIAL............................................................................46
</Table>

                                      -iii-
<Page>

<Table>
<S>                                                                              <C>
15.1.   CHOICE OF LAW............................................................46
15.2.   CONSENT TO JURISDICTION..................................................46
15.3.   WAIVER OF JURY TRIAL.....................................................47
</Table>

                                      -iv-
<Page>

                                    EXHIBITS

Exhibit A          Note
Exhibit B          Compliance Certificate
Exhibit C          Assignment Agreement

                                    SCHEDULES

Pricing Schedule
Schedule 1         Commitments

                                       -v-
<Page>

                           THREE YEAR CREDIT AGREEMENT

     This Three Year Credit Agreement, dated as of February 8, 2002, is among
Aon Corporation, a Delaware corporation, the Lenders and Bank One, NA, a
national banking association having its principal office in Chicago, Illinois,
as Agent.

                                    RECITALS:

     A.      The Borrower has requested the Lenders to make financial
accommodations to it in the aggregate principal amount of $437,500,000; and

     B.      The Lenders are willing to extend such financial accommodations on
the terms and conditions set forth below.

     NOW, THEREFORE, in consideration of the premises and of the mutual
agreements made herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrower, the
Lenders and the Agent hereby agree as follows:

                                    ARTICLE I
                                   DEFINITIONS

     As used in this Agreement:

     "Advance" means a borrowing of Loans, (a) advanced by the Lenders on the
same Borrowing Date, or (b) converted or continued by the Lenders on the same
date of conversion or continuation, consisting, in either case, of the aggregate
amount of the several Loans of the same Type and, in the case of Eurodollar
Loans, for the same Interest Period.

     "Affiliate" of any Person means any other Person directly or indirectly
controlling, controlled by or under common control with such Person. A Person
shall be deemed to control another Person if the controlling Person owns 10% or
more of any class of voting securities (or other ownership interests) of the
controlled Person or possesses, directly or indirectly, the power to direct or
cause the direction of the management or policies of the controlled Person,
whether through ownership of stock, by contract or otherwise.

     "Agent" means Bank One in its capacity as contractual representative of the
Lenders pursuant to ARTICLE X, and not in its individual capacity as a Lender,
and any successor Agent appointed pursuant to ARTICLE X.

     "Aggregate Commitment" means the aggregate of the Commitments of all the
Lenders, as reduced from time to time pursuant to the terms hereof. The initial
Aggregate Commitment is $437,500,000.

     "Agreement" means this Three Year Credit Agreement, as it may be amended or
modified and in effect from time to time.

<Page>

     "Agreement Accounting Principles" means generally accepted accounting
principles as in effect from time to time, applied in a manner consistent with
those used in preparing the financial statements referred to in SECTION 5.5.

     "Alternate Base Rate" means, for any day, a rate of interest per annum
equal to the higher of (a) the Prime Rate for such day, and (b) the sum of the
Federal Funds Effective Rate for such day plus 1/2% per annum.

     "Alternate Base Rate Advance" means an Advance which, except as otherwise
provided in SECTION 2.11, bears interest at the Alternate Base Rate.

     "Alternate Base Rate Loan" means a Loan which, except as otherwise provided
in SECTION 2.11, bears interest at the Alternate Base Rate.

     "Applicable Facility Fee Rate" means, at any time, the percentage
determined in accordance with the Pricing Schedule at such time. The Applicable
Facility Fee Rate shall change as and when the Borrower Debt Rating changes. The
initial Applicable Facility Fee Rate shall be .09%.

     "Applicable Margin" means, with respect to Advances of any Type at any
time, the percentage rate per annum which is applicable at such time with
respect to Advances of such Type as set forth in the Pricing Schedule.

     "Applicable Utilization Fee Rate" means, at any time, the percentage
determined in accordance with the Pricing Schedule at such time. The Applicable
Utilization Fee Rate shall change as and when the Borrower Debt Rating changes.

     "Approved Fund" means any Fund that is administered or managed by (a) a
Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an
entity that administers or manages a Lender.

     "Arranger" means Banc One Capital Markets, Inc., a Delaware corporation,
and its successors, in its capacity as "Sole Lead Arranger" and "Sole Book
Manager".

     "Article" means an article of this Agreement unless another document is
specifically referenced.

     "Authorized Officer" means any of the president, chief financial officer,
treasurer or vice-president and controller of the Borrower, acting singly.

     "Bank One" means Bank One, NA, a national banking association having its
principal office in Chicago, Illinois, in its individual capacity, and its
successors.

     "Borrower" means Aon Corporation, a Delaware corporation, and its
successors and assigns.

                                       -2-
<Page>

     "Borrower Debt Rating" means the senior unsecured long term debt (without
third party credit enhancement) rating of the Borrower as determined by a rating
agency identified on the Pricing Schedule.

     "Borrowing Date" means a date on which an Advance is made hereunder.

     "Borrowing Notice" is defined in SECTION 2.8.

     "Business Day" means (a) with respect to any borrowing, payment or rate
selection of Eurodollar Advances, a day (other than a Saturday or Sunday) on
which banks generally are open in Chicago and New York for the conduct of
substantially all of their commercial lending activities, interbank wire
transfers can be made on the Fedwire system and dealings in United States
dollars are carried on in the London interbank market and (b) for all other
purposes, a day (other than a Saturday or Sunday) on which banks generally are
open in Chicago and New York for the conduct of substantially all of their
commercial lending activities and interbank wire transfers can be made on the
Fedwire system.

     "Capitalized Lease" of a Person means any lease of Property by such Person
as lessee which would be capitalized on a balance sheet of such Person prepared
in accordance with Agreement Accounting Principles.

     "Capitalized Lease Obligations" of a Person means the amount of the
obligations of such Person under Capitalized Leases which would be shown as a
liability on a balance sheet of such Person prepared in accordance with
Agreement Accounting Principles.

     "Change" is defined in SECTION 3.2.

     "Change in Control" means (a) the acquisition by any Person, or two or more
Persons acting in concert, including without limitation any acquisition effected
by means of any transaction contemplated by SECTION 6.11, of beneficial
ownership (within the meaning of Rule 13d-3 of the Securities and Exchange
Commission under the Securities Exchange Act of 1934) of 20% or more of the
outstanding shares of voting stock of the Borrower, or (b) during any period of
25 consecutive calendar months, commencing on the date of this Agreement, the
ceasing of those individuals (the "CONTINUING DIRECTORS") who (i) were directors
of the Borrower on the first day of each such period or (ii) subsequently became
directors of the Borrower and whose initial election or initial nomination for
election subsequent to that date was approved by a majority of the Continuing
Directors then on the board of directors of the Borrower, to constitute a
majority of the board of directors of the Borrower.

     "Code" means the Internal Revenue Code of 1986, as amended, reformed or
otherwise modified from time to time.

     "Commitment" means, for each Lender, the obligation of such Lender to make
Loans not exceeding the amount set forth opposite its name on SCHEDULE 1 hereto,
as it may be modified as a result of any assignment that has become effective
pursuant to SECTION 12.3.2 or as otherwise modified from time to time pursuant
to the terms hereof.

                                       -3-
<Page>

     "Condemnation" is defined in SECTION 7.8.

     "Consolidated" or "consolidated", when used in connection with any
calculation, means a calculation to be determined on a consolidated basis for
the Borrower and its Subsidiaries in accordance with Agreement Accounting
Principles.

     "Consolidated EBITDA" means Consolidated Net Income PLUS, to the extent
deducted from revenues in determining Consolidated Net Income, (i) Consolidated
Interest Expense, (ii) expense for taxes paid or accrued, (iii) depreciation,
(iv) amortization and (v) extraordinary losses incurred other than in the
ordinary course of business, MINUS, to the extent included in Consolidated Net
Income, extraordinary gains realized other than in the ordinary course of
business, all calculated for the Borrower and its Subsidiaries on a consolidated
basis.

     "Consolidated Interest Expense" means, with reference to any period, the
interest expense of the Borrower and its Subsidiaries calculated on a
consolidated basis for such period.

     "Consolidated Net Income" means, with reference to any period, the net
income (or loss) of the Borrower and its Subsidiaries calculated on a
consolidated basis for such period.

     "Consolidated Net Worth" means, at any date of determination, the
consolidated common stockholders' equity of the Borrower and its consolidated
Subsidiaries determined in accordance with Agreement Accounting Principles.

     "Consolidated Person" means, for the taxable year of reference, each Person
which is a member of the affiliated group of the Borrower if Consolidated
returns are or shall be filed for such affiliated group for federal income tax
purposes or any combined or unitary group of which the Borrower is a member for
state income tax purposes.

     "Contingent Obligation" of a Person means any agreement, undertaking or
arrangement by which such Person assumes, guarantees, endorses, contingently
agrees to purchase or provide funds for the payment of, or otherwise becomes or
is contingently liable upon, the obligation or liability of any other Person, or
agrees to maintain the net worth or working capital or other financial condition
of any other Person, or otherwise assures any creditor of such other Person
against loss, including, without limitation, any comfort letter, operating
agreement or take-or-pay contract or application for a Letter of Credit.

     "Controlled Group" means all members of a controlled group of corporations
or other business entities and all trades or businesses (whether or not
incorporated) under common control which, together with the Borrower or any of
its Subsidiaries, are treated as a single employer under Section 414 of the
Code.

     "Conversion/Continuation Notice" is defined in SECTION 2.9.

     "CSC" means Combined Specialty Corporation, a Wholly-Owned Subsidiary of
the Borrower, that will, immediately prior to the CSC Spin-Off, hold only the
general insurance underwriting business of the Borrower.

                                       -4-
<Page>

     "CSC Distribution Agreement" means the distribution agreement to be filed
with the U.S. Securities and Exchange Commission and entered into between the
Borrower and CSC to effect the CSC Spin-Off in material conformity with the
description of the CSC Spin-Off and pro-forma financial information relating to
the CSC Spin-Off which was included in the Form 8-K filed with the U.S.
Securities and Exchange Commission on December 3, 2001 by the Borrower under the
Securities Act of 1934.

     "CSC Group" means CSC and each of CSC's Subsidiaries.

     "CSC Spin-Off" means the distribution, as a tax-free dividend by the
Borrower to the current holders of the Borrower's common stock, of the
outstanding shares of common stock of CSC to be effected pursuant to the terms
of the CSC Distribution Agreement, together with the related transactions
expressly contemplated by the terms of the CSC Distribution Agreement.

     "Default" means an event described in ARTICLE VII.

     "Environmental Laws" is defined in SECTION 5.15.

     "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and any rule or regulation issued thereunder.

     "Eurodollar Advance" means an Advance which, except as otherwise provided
in SECTION 2.11, bears interest at the applicable Eurodollar Rate.

     "Eurodollar Base Rate" means, with respect to a Eurodollar Advance: (a) for
any one, two, three or six month Interest Period applicable to such Eurodollar
Advance, the applicable British Bankers' Association Interest Settlement Rate
for deposits in U.S. dollars appearing on Reuters Screen FRBD as of 11:00 a.m.
(London time) two (2) Business Days prior to the first day of such Interest
Period, and having a maturity equal to such Interest Period, PROVIDED that, (i)
if Reuters Screen FRBD is not available to the Agent for any reason, the
applicable Eurodollar Base Rate for the relevant Interest Period shall instead
be the applicable British Bankers' Association Interest Settlement Rate for
deposits in U.S. dollars as reported by any other generally recognized financial
information service as of 11:00 a.m. (London time) two (2) Business Days prior
to the first day of such Interest Period, and having a maturity equal to such
Interest Period, and (ii) if no such British Bankers' Association Interest
Settlement Rate is available to the Agent, the applicable Eurodollar Base Rate
for the relevant Interest Period shall instead be the rate determined by the
Agent to be the rate at which Bank One or one of its Affiliate banks offers to
place deposits in U.S. dollars with first-class banks in the London interbank
market at approximately 11:00 a.m. (London time) two (2) Business Days prior to
the first day of such Interest Period, in the approximate amount of Bank One's
relevant Eurodollar Loan and having a maturity equal to such Interest Period; or
(b) for any fourteen (14) day Interest Period applicable to such Eurodollar
Advance, the rate determined by the Agent to be the rate at which Bank One or
one of its Affiliate banks offers to place deposits in U.S. dollars with
first-class banks in the interbank market at approximately 10:00 a.m. (Chicago
time) two (2) Business Days prior to the first day of such Interest Period, in
the approximate amount of Bank One's relevant Eurodollar Loan and having a
maturity equal to such Interest Period.

                                       -5-
<Page>

     "Eurodollar Loan" means a Loan which, except as otherwise provided in
SECTION 2.11, bears interest at the applicable Eurodollar Rate.

     "Eurodollar Rate" means, with respect to a Eurodollar Advance for the
relevant Interest Period, the sum of (a) the quotient of (i) the Eurodollar Base
Rate applicable to such Interest Period, divided by (ii) one minus the Reserve
Requirement (expressed as a decimal) applicable to such Interest Period, plus
(b) the Applicable Margin for Eurodollar Advances.

     "Excluded Taxes" means, in the case of each Lender or applicable Lending
Installation and the Agent, taxes imposed on its overall net income, and
franchise taxes imposed on it, by (i) the jurisdiction under the laws of which
such Lender or the Agent is incorporated or organized or (ii) the jurisdiction
in which the Agent's or such Lender's principal executive office or such
Lender's applicable Lending Installation is located.

     "Exhibit" refers to an exhibit to this Agreement, unless another document
is specifically referenced.

     "Existing Credit Agreements" means that certain $600,000,000 364-Day
Amended and Restated Credit Agreement dated as of October 8, 1998 among the
Borrower, Bank One, as agent, and the lenders named therein, and that certain
$600,000,000 Five Year Credit Agreement dated as of January 14, 1997 among the
Borrower, Bank One, as agent, and the lenders named therein, in each case as
amended, restated, supplemented or otherwise modified from time to time.

     "Facility Termination Date" means February 8, 2005 or any earlier date on
which the Aggregate Commitment is reduced to zero or otherwise terminated
pursuant to the terms hereof.

     "Federal Funds Effective Rate" means, for any day, an interest rate per
annum equal to the weighted average of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal
funds brokers on such day, as published for such day (or, if such day is not a
Business Day, for the immediately preceding Business Day) by the Federal Reserve
Bank of New York, or, if such rate is not so published for any day which is a
Business Day, the average of the quotations at approximately 10:00 a.m. (Chicago
time) on such day on such transactions received by the Agent from three Federal
funds brokers of recognized standing selected by the Agent in its sole
discretion.

     "Financial Statements" is defined in SECTION 5.5.

     "Fiscal Quarter" means each of the four three-month accounting periods
comprising a Fiscal Year.

     "Fiscal Year" means the twelve-month accounting period ending December 31
of each year.

                                       -6-
<Page>

     "Fund" means any Person (other than a natural person) that is (or will be)
engaged in making, purchasing, holding or otherwise investing in commercial
loans and similar extensions of credit in the ordinary course of its business.

     "Governmental Authority" means any government (foreign or domestic) or any
state or other political subdivision thereof or any governmental body, agency,
authority, department or commission (including without limitation any taxing
authority or political subdivision) or any instrumentality or officer thereof
(including, without limitation, any court or tribunal and any board of
insurance, insurance department or insurance commissioner) exercising executive,
legislative, judicial, regulatory or administrative functions of or pertaining
to government and any corporation, partnership or other entity directly or
indirectly owned or controlled by or subject to the control of any of the
foregoing.

     "Hazardous Materials" is defined in SECTION 5.15.

     "Indebtedness" of a Person means such Person's (a) obligations for borrowed
money, (b) obligations representing the deferred purchase price of Property or
services (other than accounts payable arising in the ordinary course of such
Person's business payable on terms customary in the trade), (c) obligations,
whether or not assumed, secured by Liens or payable out of the proceeds or
production from Property now or hereafter owned or acquired by such Person, (d)
obligations which are evidenced by notes, acceptances, or similar instruments,
(e) Capitalized Lease Obligations, (f) Contingent Obligations, (g) obligations
for which such Person is obligated pursuant to or in respect of a Letter of
Credit and (h) repurchase obligations or liabilities of such Person with respect
to accounts or notes receivable sold by such Person.

     "Interest Period" means, with respect to a Eurodollar Advance, a period of
fourteen (14) days or one, two, three or six months commencing on a Business Day
selected by the Borrower pursuant to this Agreement. An Interest Period of one,
two, three or six months shall end on (but exclude) the day which corresponds
numerically to such date one, two, three or six months thereafter; PROVIDED,
HOWEVER, that if there is no such numerically corresponding day in such next,
second, third or sixth succeeding month, such Interest Period shall end on the
last Business Day of such next, second, third or sixth succeeding month. If an
Interest Period would otherwise end on a day which is not a Business Day, such
Interest Period shall end on the next succeeding Business Day; PROVIDED,
HOWEVER, that if said next succeeding Business Day falls in a new calendar
month, such Interest Period shall end on the immediately preceding Business Day.

     "Lenders" means the lending institutions listed on the signature pages of
this Agreement and their respective successors and assigns.

     "Lending Installation" means, with respect to a Lender or the Agent, the
office, branch, subsidiary or affiliate of such Lender or the Agent listed on
the signature pages hereof or on a Schedule or otherwise selected by such Lender
or the Agent pursuant to SECTION 2.17.

     "Letter of Credit" of a Person means a letter of credit or similar
instrument which is issued upon the application of such Person or upon which
such Person is an account party or for which such Person is in any way liable.

                                       -7-
<Page>

     "Lien" means any security interest, lien (statutory or other), mortgage,
pledge, hypothecation, assignment, deposit arrangement, encumbrance or
preference, priority or other security agreement or preferential arrangement of
any kind or nature whatsoever (including, without limitation, the interest of a
vendor or lessor under any conditional sale, Capitalized Lease or other title
retention agreement).

     "Loan" means, with respect to a Lender, such Lender's loan made pursuant to
ARTICLE II (or any conversion or continuation thereof).

     "Loan Documents" means this Agreement, any Notes issued pursuant to SECTION
2.13 and the other documents and agreements contemplated hereby and executed by
the Borrower in favor of the Agent or any Lender.

     "Margin Stock" has the meaning assigned to that term under Regulation U.

     "Material Adverse Effect" means a material adverse effect on (a) the
business, Property, condition (financial or otherwise), performance, results of
operations, or prospects of the Post-Spin-Off Group taken as a whole or, if the
Borrower has confirmed or it has notified the holders of the Borrower's common
stock or the US Securities and Exchange Commission that the CSC Spin-Off is not
to take place, the Borrower and its Subsidiaries taken as a whole, (b) the
ability of the Borrower to perform its obligations under the Loan Documents, or
(c) the validity or enforceability of any of the Loan Documents or the rights or
remedies of the Agent or the Lenders thereunder.

     "Modified Required Lenders" means Lenders in the aggregate having at least
66 2/3% of the Aggregate Commitment or, if the Aggregate Commitment has been
terminated, Lenders in the aggregate holding at least 66 2/3% of the aggregate
unpaid principal amount of the outstanding Loans.

     "Moody's" means Moody's Investors Service, Inc., or any successor thereto.

     "Multiemployer Plan" means a Plan maintained pursuant to a collective
bargaining agreement or any other arrangement to which the Borrower or any
member of the Controlled Group is a party to which more than one employer is
obligated to make contributions.

     "Non-U.S. Lender" is defined in SECTION 3.5(d).

     "Note" is defined in SECTION 2.13.

     "Obligations" means all unpaid principal of and accrued and unpaid interest
on the Loans, all accrued and unpaid fees and all expenses, reimbursements,
indemnities and other obligations of the Borrower to the Lenders or to any
Lender, the Agent or any indemnified party arising under the Loan Documents.

     "Other Taxes" is defined in SECTION 3.5(b).

     "Participants" is defined in SECTION 12.2.1.

                                       -8-
<Page>

     "Payment Date" means the last day of each March, June, September and
December.

     "PBGC" means the Pension Benefit Guaranty Corporation, or any successor
thereto.

     "Person" means any natural person, corporation, firm, joint venture,
partnership, association, enterprise, limited liability company, trust or other
entity or organization, or any government or political subdivision or any
agency, department or instrumentality thereof.

     "Plan" means an employee pension benefit plan which is covered by Title IV
of ERISA or subject to the minimum funding standards under Section 412 of the
Code as defined in Section 3(2) of ERISA, as to which the Borrower or any member
of the Controlled Group may have any liability.

     "Post-Spin-Off Group" means the Borrower and each of its Subsidiaries but
excluding any member of the CSC Group.

     "Pricing Schedule" means the Schedule attached hereto identified as such.

     "Prime Rate" means a rate per annum equal to the prime rate of interest
announced from time to time by Bank One or its parent (which is not necessarily
the lowest rate charged to any customer), changing when and as said prime rate
changes.

     "Property" of a Person means any and all property, whether real, personal,
tangible, intangible, or mixed, of such Person, or other assets owned, leased or
operated by such Person.

     "pro-rata" means, when used with respect to a Lender, and any described
aggregate or total amount, an amount equal to such Lender's pro-rata share or
portion based on its percentage of the Aggregate Commitment or if the Aggregate
Commitment has been terminated, its percentage of the aggregate principal amount
of outstanding Advances.

     "Purchasers" is defined in SECTION 12.3.1.

     "Regulation D" means Regulation D of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor thereto or other
regulation or official interpretation of said Board of Governors relating to
reserve requirements applicable to depositary institutions.

     "Regulation U" means Regulation U of the Board of Governors of the Federal
Reserve System as from time to time in effect and any successor or other
regulation or official interpretation of said Board of Governors relating to the
extension of credit by banks and certain other Persons for the purpose of
purchasing or carrying margin stocks applicable to member banks of the Federal
Reserve System and certain other Persons.

     "Release" is defined in the Comprehensive Environmental Response,
Compensation and Liability Act, as amended, 42 U.S.C. 39601 ET SEQ.

                                       -9-
<Page>

     "Reportable Event" means a reportable event as defined in Section 4043 of
ERISA and the regulations issued under such section, with respect to a Plan,
excluding, however, such events as to which the PBGC has by regulation waived
the requirement of Section 4043(a) of ERISA that it be notified within thirty
(30) days of the occurrence of such event; PROVIDED, that a failure to meet the
minimum funding standard of Section 412 of the Code and of Section 302 of ERISA
shall be a Reportable Event regardless of the issuance of any such waiver of the
notice requirement in accordance with either Section 4043(a) of ERISA or Section
412(d) of the Code.

     "Required Lenders" means Lenders in the aggregate having at least 51% of
the Aggregate Commitment or, if the Aggregate Commitment has been terminated,
Lenders in the aggregate holding at least 51% of the aggregate unpaid principal
amount of the outstanding Loans.

     "Reserve Requirement" means, with respect to an Interest Period, the
maximum aggregate reserve requirement (including all basic, supplemental,
marginal and other reserves) which is imposed under Regulation D on Eurocurrency
liabilities.

     "Risk-Based Capital Guidelines" is defined in SECTION 3.2.

     "S&P" means Standard and Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc., or any successor thereto.

     "Schedule" refers to a specific schedule to this Agreement, unless another
document is specifically referenced.

     "Section" means a numbered section of this Agreement, unless another
document is specifically referenced.

     "Single Employer Plan" means a Plan maintained by the Borrower or any
member of the Controlled Group for employees of the Borrower or any member of
the Controlled Group.

     "Subsidiary" of a Person means (a) any corporation more than 50% of the
outstanding securities having ordinary voting power of which shall at the time
be owned or controlled, directly or indirectly, by such Person or by one or more
of its Subsidiaries or by such Person and one or more of its Subsidiaries, or
(b) any partnership, association, joint venture, limited liability company or
similar business organization more than 50% of the ownership interests having
ordinary voting power of which shall at the time be so owned or controlled.
Unless otherwise expressly provided, all references herein to a "Subsidiary"
shall mean a Subsidiary of the Borrower.

     "Substantial Portion" means, with respect to the Property of the Borrower
and its Subsidiaries, Property which (a) represents more than 10% of the
consolidated assets of the Borrower and its Subsidiaries, as would be shown in
the consolidated financial statements of the Borrower and its Subsidiaries as at
the end of the quarter next preceding the date on which such determination is
made, or (b) is responsible for more than 10% of the consolidated net sales or
of

                                      -10-
<Page>

the consolidated net income of the Borrower and its Subsidiaries for the
12-month period ending as of the end of the quarter next preceding the date of
determination.

     "Taxes" means any and all present or future taxes, duties, levies, imposts,
deductions, charges or withholdings, and any and all liabilities with respect to
the foregoing, but EXCLUDING Excluded Taxes and Other Taxes.

     "Termination Event" means, with respect to a Plan which is subject to Title
IV of ERISA, (a) a Reportable Event, (b) the withdrawal of the Borrower or any
other member of the Controlled Group from such Plan during a plan year in which
the Borrower or any other member of the Controlled Group was a "substantial
employer" as defined in Section 4001(a)(2) of ERISA or was deemed such under
Section 4068(f) of ERISA, (c) the termination of such Plan, the filing of a
notice of intent to terminate such Plan or the treatment of an amendment of such
Plan as a termination under Section 4041 of ERISA, (d) the institution by the
PBGC of proceedings to terminate such Plan or (e) any event or condition which
might constitute grounds under Section 4042 of ERISA for the termination of, or
appointment of a trustee to administer, such Plan.

     "364-Day Agreement" means that certain 364-Day Credit Agreement dated as of
the date hereof among the Borrower, Bank One, as agent, and the lenders party
thereto, as from time to time amended, restated or otherwise modified.

     "Total Plan Liability" means, at any time, the present value of all vested
and unvested accrued benefits under all Single Employer Plans, determined as of
the then most recent valuation date for such Plans using PBGC actuarial
assumptions for single employer plan terminations.

     "Transferee" is defined in SECTION 12.4.

     "Transitional Services" means the services to be provided by the
Post-Spin-Off Group to the CSC Group, including but not limited to human
resource administration services, IT and telecommunications support and
services, payroll, salary and employee benefits services, tax, audit and
accounting services, legal services, treasury services (cash investment, foreign
exchange, derivatives and hedging), intellectual property licensing, premium
financing services, claims administration services and benefits/brokerage
consultancy and risk management services.

     "Type" means, with respect to any Advance, its nature as an Alternate Base
Rate Advance or a Eurodollar Advance.

     "Unfunded Liabilities" means the amount (if any) by which the present value
of all vested and unvested accrued benefits under all Single Employer Plans
exceeds the fair market value of all such Plan assets allocable to such
benefits, all determined as of the then most recent valuation date for such
Plans using PBGC actuarial assumptions for single employer plan terminations.

                                      -11-
<Page>

     "Unmatured Default" means an event which but for the lapse of time or the
giving of notice, or both, would constitute a Default.

     "Wholly-Owned Subsidiary" of a Person means (a) any Subsidiary all of the
outstanding voting securities of which shall at the time be owned or controlled,
directly or indirectly, by such Person or one or more Wholly-Owned Subsidiaries
of such Person, or by such Person and one or more Wholly-Owned Subsidiaries of
such Person, or (b) any partnership, association, joint venture, limited
liability company or similar business organization 100% of the ownership
interests having ordinary voting power of which shall at the time be so owned or
controlled. Unless otherwise provided, all references herein to a "Wholly-Owned
Subsidiary" shall mean a Wholly-Owned Subsidiary of the Borrower.

     The foregoing definitions shall be equally applicable to both the singular
and plural forms of the defined terms.

                                   ARTICLE II
                                   THE CREDITS

     2.1.    COMMITMENT. From and including the date of this Agreement to the
Facility Termination Date, each Lender severally agrees, on the terms and
conditions set forth in this Agreement, to make Loans to the Borrower from time
to time in amounts not to exceed in the aggregate at any one time outstanding
the amount of its Commitment. Subject to the terms of this Agreement, the
Borrower may borrow, repay and reborrow at any time prior to the Facility
Termination Date.

     2.2.    REQUIRED PAYMENTS; TERMINATION. Any outstanding Advances and all
other unpaid Obligations shall be paid in full by the Borrower on the Facility
Termination Date.

     2.3.    RATABLE LOANS. Each Advance hereunder shall consist of Loans made
from the several Lenders ratably in proportion to the ratio that their
respective Commitments bear to the Aggregate Commitment.

     2.4.    TYPES OF ADVANCES. The Advances may be Alternate Base Rate Advances
or Eurodollar Advances, or a combination thereof, selected by the Borrower in
accordance with SECTIONS 2.8 and 2.9.

     2.5.    FACILITY FEE; UTILIZATION FEE; REDUCTIONS IN AGGREGATE COMMITMENT.
The Borrower agrees to pay to the Agent for the account of each Lender a
facility fee at a per annum rate equal to the Applicable Facility Fee Rate on
such Lender's Commitment from the date hereof to and including the Facility
Termination Date, payable on each Payment Date hereafter and on the Facility
Termination Date. The Borrower also agrees to pay to the Agent for the ratable
(based on Commitment amounts) account of the Lenders a utilization fee for each
day from the date hereof to and including the later of the Facility Termination
Date and the date all Loans are paid in full and all Commitments are terminated,
such utilization fee to be equal to the Applicable Utilization Fee Rate for such
day multiplied by the outstanding principal amount of the Loans on such day,
payable on each Payment Date and on the Facility Termination Date.

                                      -12-
<Page>

The Borrower may permanently reduce the Aggregate Commitment in whole, or in
part ratably among the Lenders in a minimum aggregate amount of $25,000,000 or
any integral multiple of $5,000,000 in excess thereof, upon at least two (2)
Business Days' written notice to the Agent, which notice shall specify the
amount of any such reduction, PROVIDED, HOWEVER, that the amount of the
Aggregate Commitment may not be reduced below the aggregate principal amount of
the outstanding Advances. All accrued facility and utilization fees shall be
payable on the effective date of any termination of the obligations of the
Lenders to make Loans hereunder.

     2.6.    MINIMUM AMOUNT OF EACH ADVANCE. Each Advance shall be in the
minimum amount of $25,000,000 (and in multiples of $5,000,000 if in excess
thereof); PROVIDED, HOWEVER, that (a) any Alternate Base Rate Advance may be in
the amount of the unused Aggregate Commitment and (b) in no event shall more
than six (6) Eurodollar Advances be permitted to be outstanding at any time.

     2.7.    OPTIONAL PRINCIPAL PAYMENTS. The Borrower may from time to time
pay, without penalty or premium, all outstanding Alternate Base Rate Advances,
or, in a minimum aggregate amount of $10,000,000 or any integral multiple of
$1,000,000 in excess thereof, any portion of the outstanding Alternate Base Rate
Advances upon notice to the Agent by 10:00 a.m. on the Business Day of the
proposed prepayment. The Borrower may from time to time pay, subject to the
payment of any funding indemnification amounts required by SECTION 3.4 but
without penalty or premium, all outstanding Eurodollar Advances, or, in a
minimum aggregate amount of $10,000,000 or any integral multiple of $1,000,000
in excess thereof, any portion of an outstanding Eurodollar Advance, upon two
(2) Business Days' prior notice to the Agent.

     2.8.    METHOD OF SELECTING TYPES AND INTEREST PERIODS FOR NEW ADVANCES.
The Borrower shall select the Type of Advance and, in the case of each
Eurodollar Advance, the Interest Period applicable thereto from time to time;
PROVIDED, HOWEVER, that in the event Loans are incurred on the date of this
Agreement, all Loans incurred on such date shall be Alternate Base Rate
Advances. The Borrower shall give the Agent irrevocable notice (a "BORROWING
NOTICE") not later than 10:00 a.m. (Chicago time) on the Borrowing Date of each
Alternate Base Rate Advance and at least three (3) Business Days before the
Borrowing Date for each Eurodollar Advance, specifying:

             (a)     the Borrowing Date of such Advance, which shall be a
Business Day;

             (b)     the aggregate amount of such Advance;

             (c)     the Type of Advance selected; and

             (d)     in the case of each Eurodollar Advance, the Interest
Period applicable thereto, which shall end on or prior to the Facility
Termination Date.

Not later than noon (Chicago time) on each Borrowing Date, each Lender shall
make available its Loan or Loans, in funds immediately available in Chicago, to
the Agent at its address specified pursuant to ARTICLE XIII. The Agent will make
the funds so received from the Lenders available to the Borrower at the Agent's
aforesaid address.

                                      -13-
<Page>

     2.9.    CONVERSION AND CONTINUATION OF OUTSTANDING ADVANCES. Each Alternate
Base Rate Advance shall continue as an Alternate Base Rate Advance unless and
until such Alternate Base Rate Advance is converted into a Eurodollar Advance
pursuant to this SECTION 2.9 or is repaid in accordance with SECTION 2.7. Each
Eurodollar Advance shall continue as a Eurodollar Advance until the end of the
then applicable Interest Period therefor, at which time such Eurodollar Advance
shall be automatically converted into an Alternate Base Rate Advance unless (x)
such Eurodollar Advance is or was repaid in accordance with SECTION 2.7 or (y)
the Borrower shall have given the Agent a Conversion/Continuation Notice (as
defined below) requesting that, at the end of such Interest Period, such
Eurodollar Advance continue as a Eurodollar Advance for the same or another
Interest Period. Subject to the terms of SECTION 2.6, the Borrower may elect
from time to time to convert all or any part of an Alternate Base Rate Advance
into a Eurodollar Advance. The Borrower shall give the Agent irrevocable notice
(a "CONVERSION/CONTINUATION NOTICE") of each conversion of an Alternate Base
Rate Advance into a Eurodollar Advance or of continuation of a Eurodollar
Advance not later than 10:00 a.m. (Chicago time) on the date of a conversion
into an Alternate Base Rate Advance, or at least three (3) Business Days, in the
case of a conversion into or continuation of a Eurodollar Advance, prior to the
date of the requested conversion or continuation, specifying:

             (a)     the requested date of such conversion or continuation,
which shall be a Business Day;

             (b)     the aggregate amount and Type of the Advance which is to be
converted or continued; and

             (c)     the amount and Type(s) of Advance(s) into which such
Advance is to be converted or continued and, in the case of a conversion into or
continuation of a Eurodollar Advance, the duration of the Interest Period
applicable thereto, which shall end on or prior to the Facility Termination
Date.

     2.10.   CHANGES IN INTEREST RATE, ETC. Each Alternate Base Rate Advance
shall bear interest on the outstanding principal amount thereof, for each day
from and including the date such Advance is made or is converted from a
Eurodollar Advance into an Alternate Base Rate Advance pursuant to SECTION 2.9,
to but excluding the date it is paid or is converted into a Eurodollar Advance
pursuant to SECTION 2.9 hereof, at a rate per annum equal to the Alternate Base
Rate for such day. Changes in the rate of interest on that portion of any
Advance maintained as an Alternate Base Rate Advance will take effect
simultaneously with each change in the Alternate Base Rate. Each Eurodollar
Advance shall bear interest on the outstanding principal amount thereof from and
including the first day of the Interest Period applicable thereto to (but not
including) the last day of such Interest Period at the Eurodollar Rate
determined by the Agent as applicable to such Eurodollar Advance based upon the
Borrower's selections under SECTIONS 2.8 and 2.9 and otherwise in accordance
with the terms hereof. No Interest Period may end after the Facility Termination
Date. The Borrower shall select Interest Periods so that it is not necessary to
repay any portion of a Eurodollar Advance prior to the last day of the
applicable Interest Period in order to make a mandatory repayment required
pursuant to SECTION 2.2.

                                      -14-
<Page>

     2.11.   RATES APPLICABLE AFTER DEFAULT. Notwithstanding anything to the
contrary contained in SECTION 2.8 or 2.9, no Advance may be made as, converted
into or continued as a Eurodollar Advance (except with the consent of the Agent
and the Required Lenders) when any Default or Unmatured Default has occurred and
is continuing. During the continuance of a Default the Required Lenders may, at
their option, by notice to the Borrower (which notice may be revoked at the
option of the Required Lenders notwithstanding any provision of SECTION 8.2
requiring unanimous consent of the Lenders to changes in interest rates),
declare that (a) each Eurodollar Advance shall bear interest for the remainder
of the applicable Interest Period at the Eurodollar Rate otherwise applicable to
such Interest Period plus 1% per annum and (b) each Alternate Base Rate Advance
shall bear interest at a rate per annum equal to the Alternate Base Rate in
effect from time to time plus 1% per annum, PROVIDED that, during the
continuance of a Default under SECTION 7.6 or 7.7, the interest rates set forth
in clauses (a) and (b) above shall be applicable to all Advances without any
election or action on the part of the Agent or any Lender.

     2.12.   METHOD OF PAYMENT. All payments of the Obligations hereunder shall
be made, without setoff, deduction or counterclaim, in immediately available
funds to the Agent at the Agent's address specified pursuant to ARTICLE XIII, or
at any other Lending Installation of the Agent specified in writing by the Agent
to the Borrower, by noon (Chicago time) on the date when due and shall be
applied ratably by the Agent among the Lenders. Each payment delivered to the
Agent for the account of any Lender shall be delivered promptly by the Agent to
such Lender in the same type of funds that the Agent received at its address
specified pursuant to ARTICLE XIII or at any Lending Installation specified in a
notice received by the Agent from such Lender. The Agent is hereby authorized to
charge the account of the Borrower maintained with Bank One for each payment of
principal, interest and fees as it becomes due hereunder.

     2.13.   NOTELESS AGREEMENT; EVIDENCE OF INDEBTEDNESS. (a) Each Lender shall
maintain in accordance with its usual practice an account or accounts evidencing
the indebtedness of the Borrower to such Lender resulting from each Loan made by
such Lender from time to time, including the amounts of principal and interest
payable and paid to such Lender from time to time hereunder.

             (b)     The Agent shall also maintain accounts in which it will
     record (i) the amount of each Loan made hereunder, the Type thereof and the
     Interest Period with respect thereto, (ii) the amount of any principal or
     interest due and payable or to become due and payable from the Borrower to
     each Lender hereunder and (iii) the amount of any sum received by the Agent
     hereunder from the Borrower and each Lender's share thereof.

             (c)     The entries maintained in the accounts maintained pursuant
     to PARAGRAPHS (a) and (b) above shall be PRIMA FACIE evidence of the
     existence and amounts of the Obligations therein recorded; PROVIDED,
     HOWEVER, that the failure of the Agent or any Lender to maintain such
     accounts or any error therein shall not in any manner affect the obligation
     of the Borrower to repay the Obligations in accordance with their terms.

             (d)     Any Lender may request that its Loans be evidenced by a
     promissory note in substantially the form of EXHIBIT A (including any
     amendment, modification, renewal or replacement thereof, a "NOTE"). In such
     event, the Borrower shall prepare, execute and

                                      -15-
<Page>

     deliver to such Lender such Note payable to the order of such Lender.
     Thereafter, the Loans evidenced by such Note and interest thereon shall at
     all times (including after any assignment pursuant to SECTION 12.3) be
     represented by one or more Notes payable to the order of the payee named
     therein or any assignee pursuant to SECTION 12.3, except to the extent that
     any such Lender or assignee subsequently returns any such Note for
     cancellation and requests that such Loans once again be evidenced as
     described in PARAGRAPHS (a) and (b) above. Upon receipt of an affidavit of
     an officer of any Lender as to the loss, theft, destruction or mutilation
     of such Lender's Note, and, in the case of any such loss, theft destruction
     or mutilation, upon cancellation of such Note, the Borrower will issue, in
     lieu thereof, a replacement Note in the same principal amount thereof and
     otherwise of like tenor.

     2.14.   TELEPHONIC NOTICES. The Borrower hereby authorizes the Lenders and
the Agent to extend, convert or continue Advances, effect selections of Types of
Advances and to transfer funds based on telephonic notices made by any person or
persons the Agent or any Lender in good faith believes to be acting on behalf of
the Borrower, it being understood that the foregoing authorization is
specifically intended to allow Borrowing Notices and Conversion/Continuation
Notices to be given telephonically. The Borrower agrees to deliver promptly to
the Agent a written confirmation, if such confirmation is requested by the Agent
or any Lender, of each telephonic notice signed by an Authorized Officer. If the
written confirmation differs in any material respect from the action taken by
the Agent and the Lenders, the records of the Agent and the Lenders shall govern
absent manifest error.

     2.15.   INTEREST PAYMENT DATES; INTEREST AND FEE BASIS. Interest accrued on
each Alternate Base Rate Advance shall be payable on each Payment Date,
commencing with the first such date to occur after the date hereof, on any date
on which an Alternate Base Rate Advance is prepaid, whether due to acceleration
or otherwise, and at maturity. Interest accrued on that portion of the
outstanding principal amount of any Alternate Base Rate Advance converted into a
Eurodollar Advance on a day other than a Payment Date shall be payable on the
date of conversion. Interest accrued on each Eurodollar Advance shall be payable
on the last day of its applicable Interest Period, on any date on which the
Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at
maturity. Interest accrued on each Eurodollar Advance having an Interest Period
longer than three (3) months shall also be payable on the last day of each
three-month interval during such Interest Period. Interest with respect to
Eurodollar Loans, facility fees and utilization fees shall be calculated for
actual days elapsed on the basis of a 360-day year. Interest with respect to
Alternate Base Rate Loans shall be calculated for the actual days elapsed on the
basis of a 365 or 366-day year, as applicable. Interest shall be payable for the
day an Advance is made but not for the day of any payment on the amount paid if
payment is made in full and received prior to noon (Chicago time) at the place
of payment. If any payment of principal of or interest on an Advance shall
become due on a day which is not a Business Day, such payment shall be made on
the next succeeding Business Day and, in the case of a principal payment, such
extension of time shall be included in computing interest in connection with
such payment.

                                      -16-
<Page>

     2.16.   NOTIFICATION OF ADVANCES, INTEREST RATES, PREPAYMENTS AND
COMMITMENT REDUCTIONS. Promptly after receipt thereof, the Agent will notify
each Lender of the contents of each Aggregate Commitment reduction notice,
Borrowing Notice, Conversion/Continuation Notice, and repayment notice received
by it hereunder. The Agent will notify each Lender of the Eurodollar Rate
applicable to each Eurodollar Advance promptly upon determination of such
interest rate and will give each Lender prompt notice of each change in the
Alternate Base Rate.

     2.17.   LENDING INSTALLATIONS. Each Lender may book its Loans at any
Lending Installation selected by such Lender and may change its Lending
Installation from time to time. All terms of this Agreement shall apply to any
such Lending Installation and the Loans and any Notes issued hereunder shall be
deemed held by each Lender for the benefit of any such Lending Installation.
Each Lender may, by written notice to the Agent and the Borrower in accordance
with ARTICLE XIII, designate replacement or additional Lending Installations
through which Loans will be made by it and for whose account Loan payments are
to be made.

     2.18.   NON-RECEIPT OF FUNDS BY THE AGENT. Unless the Borrower or a Lender,
as the case may be, notifies the Agent prior to the date on which it is
scheduled to make payment to the Agent of (a) in the case of a Lender, the
proceeds of a Loan, or (b) in the case of the Borrower, a payment of principal,
interest or fees to the Agent for the account of the Lenders, that it does not
intend to make such payment, the Agent may assume that such payment has been
made. The Agent may, but shall not be obligated to, make the amount of such
payment available to the intended recipient in reliance upon such assumption. If
such Lender or the Borrower, as the case may be, has not in fact made such
payment to the Agent, the recipient of such payment shall, on demand by the
Agent, repay to the Agent the amount so made available together with interest
thereon in respect of each day during the period commencing on the date such
amount was so made available by the Agent until the date the Agent recovers such
amount at a rate per annum equal to (x) in the case of payment by a Lender, the
Federal Funds Effective Rate for such day for the first three (3) days and,
thereafter, the interest rate applicable to the relevant Loan or (y) in the case
of payment by the Borrower, the interest rate applicable to the relevant Loan.

     2.19.   REPLACEMENT OF LENDER. If the Borrower is required pursuant to
SECTION 3.1, 3.2 or 3.5 to make any additional payment to any Lender or if any
Lender's obligation to make or continue, or to convert Alternate Base Rate
Advances into, Eurodollar Advances shall be suspended pursuant to SECTION 3.3
(any Lender so affected an "AFFECTED LENDER"), the Borrower may elect, if such
amounts continue to be charged or such suspension is still effective, to replace
such Affected Lender as a Lender party to this Agreement, PROVIDED that no
Default or Unmatured Default shall have occurred and be continuing at the time
of such replacement, and PROVIDED FURTHER that, concurrently with such
replacement, (i) another bank or other entity which is reasonably satisfactory
to the Borrower and the Agent shall agree, as of such date, to purchase for cash
the Advances and other Obligations due to the Affected Lender pursuant to an
assignment substantially in the form of EXHIBIT C and to become a Lender for all
purposes under this Agreement and to assume all obligations of the Affected
Lender to be terminated as of such date and to comply with the requirements of
SECTION 12.3 applicable to assignments, and (ii) the Borrower shall pay to such
Affected Lender in same day funds on the day of such replacement (A) all
interest, fees and other amounts then accrued but unpaid to such Affected Lender
by the

                                      -17-
<Page>

Borrower hereunder to and including the date of termination, including without
limitation payments due to such Affected Lender under SECTIONS 3.1, 3.2 and 3.5,
and (B) an amount, if any, equal to the payment which would have been due to
such Lender on the day of such replacement under SECTION 3.4 had the Loans of
such Affected Lender been prepaid on such date rather than sold to the
replacement Lender.

                                   ARTICLE III
                             YIELD PROTECTION; TAXES

     3.1.    YIELD PROTECTION. If, on or after the date of this Agreement, the
adoption of any law or any governmental or quasi-governmental rule, regulation,
policy, guideline or directive (whether or not having the force of law), or any
change in the interpretation or administration thereof by any governmental or
quasi-governmental authority, central bank or comparable agency charged with the
interpretation or administration thereof, or compliance by any Lender or
applicable Lending Installation with any request or directive (whether or not
having the force of law) of any such authority, central bank or comparable
agency:

             (a)     subjects any Lender or any applicable Lending Installation
     to any Taxes, or changes the basis of taxation of payments (other than with
     respect to Excluded Taxes) to any Lender in respect of its Eurodollar
     Loans, or

             (b)     imposes or increases or deems applicable any reserve,
     assessment, insurance charge, special deposit or similar requirement
     against assets of, deposits with or for the account of, or credit extended
     by, any Lender or any applicable Lending Installation (other than reserves
     and assessments taken into account in determining the interest rate
     applicable to Eurodollar Advances), or

             (c)     imposes any other condition the result of which is to
     increase the cost to any Lender or any applicable Lending Installation of
     making, funding or maintaining its Eurodollar Loans or reduces any amount
     receivable by any Lender or any applicable Lending Installation in
     connection with its Eurodollar Loans, or requires any Lender or any
     applicable Lending Installation to make any payment calculated by reference
     to the amount of Eurodollar Loans held or interest received by it, by an
     amount deemed material by such Lender,

and the result of any of the foregoing is to increase the cost to such Lender or
applicable Lending Installation of making or maintaining its Eurodollar Loans or
Commitment or to reduce the return received by such Lender or applicable Lending
Installation in connection with such Eurodollar Loans or Commitment, then,
within fifteen (15) days of demand by such Lender, the Borrower shall pay such
Lender such additional amount or amounts as will compensate such Lender for such
increased cost or reduction in amount received.

     3.2.    CHANGES IN CAPITAL ADEQUACY REGULATIONS. If a Lender determines the
amount of capital required or expected to be maintained by such Lender, any
Lending Installation of such Lender or any corporation controlling such Lender
is increased as a result of a Change, then, within fifteen (15) days of demand
by such Lender, the Borrower shall pay such Lender the

                                      -18-
<Page>

amount necessary to compensate for any shortfall in the rate of return on the
portion of such increased capital which such Lender determines is attributable
to this Agreement, its Loans or its Commitment to make Loans hereunder (after
taking into account such Lender's policies as to capital adequacy). "CHANGE"
means (a) any change after the date of this Agreement in the Risk-Based Capital
Guidelines or (b) any adoption of or change in any other law, governmental or
quasi-governmental rule, regulation, policy, guideline, interpretation, or
directive (whether or not having the force of law) after the date of this
Agreement which affects the amount of capital required or expected to be
maintained by any Lender or any Lending Installation or any Person controlling
any Lender. "RISK-BASED CAPITAL GUIDELINES" means (a) the risk-based capital
guidelines in effect in the United States on the date of this Agreement,
including transition rules, and (b) the corresponding capital regulations
promulgated by regulatory authorities outside the United States implementing the
July 1988 report of the Basle Committee on Banking Regulation and Supervisory
Practices entitled "International Convergence of Capital Measurements and
Capital Standards," including transition rules, and any amendments to such
regulations adopted prior to the date of this Agreement.

     3.3.    AVAILABILITY OF TYPES OF ADVANCES. If any Lender determines that
maintenance of its Eurodollar Loans at a suitable Lending Installation would
violate any applicable law, rule, regulation, interpretation or directive,
whether or not having the force of law, or if the Required Lenders determine
that (a) deposits of a type and maturity appropriate to match fund Eurodollar
Advances are not available or (b) the interest rate applicable to Eurodollar
Advances does not accurately or fairly reflect the cost of making or maintaining
Eurodollar Advances, then the Agent shall suspend the availability of Eurodollar
Advances and require any affected Eurodollar Advances to be repaid or converted
to Alternate Base Rate Advances, subject to the payment of any funding
indemnification amounts required by SECTION 3.4.

     3.4.    FUNDING INDEMNIFICATION. If any payment of a Eurodollar Advance
occurs on a date prior to the last day of the applicable Interest Period,
whether because of acceleration, prepayment or otherwise, or a Eurodollar
Advance is not made on the date specified by the Borrower for any reason other
than default by the Lenders, the Borrower will indemnify each Lender for any
loss or cost incurred by it resulting therefrom, including, without limitation,
any loss or cost in liquidating or employing deposits acquired to fund or
maintain such Eurodollar Advance.

     3.5.    TAXES.  (a) All payments by the Borrower to or for the account of
any Lender or the Agent hereunder or under any Note shall be made free and clear
of and without deduction for any and all Taxes. If the Borrower shall be
required by law to deduct any Taxes from or in respect of any sum payable
hereunder to any Lender or the Agent, (i) the sum payable shall be increased as
necessary so that after making all required deductions (including deductions
applicable to additional sums payable under this SECTION 3.5) such Lender or the
Agent (as the case may be) receives an amount equal to the sum it would have
received had no such deductions been made, (ii) the Borrower shall make such
deductions, (iii) the Borrower shall pay the full amount deducted to the
relevant authority in accordance with applicable law and (iv) the Borrower shall
furnish to the Agent the original copy of a receipt evidencing payment thereof
within thirty (30) days after such payment is made.

                                      -19-
<Page>

             (b)     In addition, the Borrower hereby agrees to pay any present
     or future stamp or documentary taxes and any other excise or property
     taxes, charges or similar levies which arise from any payment made
     hereunder or under any Note or from the execution or delivery of, or
     otherwise with respect to, this Agreement or any Note ("OTHER TAXES").

             (c)     The Borrower hereby agrees to indemnify the Agent and each
     Lender for the full amount of Taxes or Other Taxes (including, without
     limitation, any Taxes or Other Taxes imposed on amounts payable under this
     SECTION 3.5) paid by the Agent or such Lender and any liability (including
     penalties, interest and expenses) arising therefrom or with respect
     thereto. Payments due under this indemnification shall be made within
     thirty (30) days of the date the Agent or such Lender makes demand therefor
     pursuant to SECTION 3.6.

             (d)     Each Lender that is not incorporated under the laws of the
     United States of America or a state thereof (each a "NON-U.S. LENDER")
     agrees that it will, not more than ten (10) Business Days after the date of
     this Agreement, (i) deliver to each of the Borrower and the Agent two duly
     completed copies of United States Internal Revenue Service Form W-8BEN or
     W-8ECI, certifying in either case that such Lender is entitled to receive
     payments under this Agreement without deduction or withholding of any
     United States federal income taxes, and (ii) deliver to each of the
     Borrower and the Agent a United States Internal Revenue Form W-8 or W-9, as
     the case may be, and certify that it is entitled to an exemption from
     United States backup withholding tax. Each Non-U.S. Lender further
     undertakes, to the extent lawful at such time, to deliver to each of the
     Borrower and the Agent (x) renewals or additional copies of such form (or
     any successor form) on or before the date that such form expires or becomes
     obsolete, and (y) after the occurrence of any event requiring a change in
     the most recent forms so delivered by it, such additional forms or
     amendments thereto as may be reasonably requested by the Borrower or the
     Agent. All forms or amendments described in the preceding sentence shall
     certify that such Lender is entitled to receive payments under this
     Agreement without deduction or withholding of any United States federal
     income taxes, UNLESS an event (including without limitation any change in
     treaty, law or regulation) has occurred prior to the date on which any such
     delivery would otherwise be required which renders all such forms
     inapplicable or which would prevent such Lender from duly completing and
     delivering any such form or amendment with respect to it and such Lender
     advises the Borrower and the Agent that it is not capable of receiving
     payments without any deduction or withholding of United States federal
     income tax.

             (e)     For any period during which a Non-U.S. Lender has failed to
     provide the Borrower with an appropriate form pursuant to CLAUSE (d), above
     (unless such failure is due to a change in treaty, law or regulation, or
     any change in the interpretation or administration thereof by any
     governmental authority, occurring subsequent to the date on which a form
     originally was required to be provided), such Non-U.S. Lender shall not be
     entitled to indemnification under this SECTION 3.5 with respect to Taxes
     imposed by the United States; PROVIDED that, should a Non-U.S. Lender which
     is otherwise exempt from or subject to a reduced rate of withholding tax
     become subject to Taxes because of its

                                       -20
<Page>

     failure to deliver a form required under CLAUSE (d), above, the Borrower
     shall take such steps as such Non-U.S. Lender shall reasonably request to
     assist such Non-U.S. Lender to recover such Taxes.

             (f)     Any Lender that is entitled to an exemption from or
     reduction of withholding tax with respect to payments under this Agreement
     or any Note pursuant to the law of any relevant jurisdiction or any treaty
     shall deliver to the Borrower (with a copy to the Agent), at the time or
     times prescribed by applicable law, such properly completed and executed
     documentation prescribed by applicable law as will permit such payments to
     be made without withholding or at a reduced rate.

             (g)     If the U.S. Internal Revenue Service or any other
     governmental authority of the United States or any other country or any
     political subdivision thereof asserts a claim that the Agent did not
     properly withhold tax from amounts paid to or for the account of any Lender
     (because the appropriate form was not delivered or properly completed,
     because such Lender failed to notify the Agent of a change in circumstances
     which rendered its exemption from withholding ineffective, or for any other
     reason not caused by or constituting gross negligence or willful misconduct
     of the Agent), such Lender shall indemnify the Agent fully for all amounts
     paid, directly or indirectly, by the Agent as tax, withholding therefor, or
     otherwise, including penalties and interest, and including taxes imposed by
     any jurisdiction on amounts payable to the Agent under this subsection,
     together with all reasonable costs and expenses related thereto (including
     reasonable attorneys fees and reasonable time charges of attorneys for the
     Agent, which attorneys may be employees of the Agent). The obligations of
     the Lenders under this SECTION 3.5(g) shall survive the payment of the
     Obligations and termination of this Agreement.

     3.6.    LENDER STATEMENTS; SURVIVAL OF INDEMNITY. To the extent reasonably
possible, each Lender shall designate an alternate Lending Installation with
respect to its Eurodollar Loans to reduce any liability of the Borrower to such
Lender under SECTIONS 3.1, 3.2 and 3.5 or to avoid the unavailability of
Eurodollar Advances under SECTION 3.3, so long as such designation is not, in
the judgment of such Lender, disadvantageous to such Lender. Each Lender shall
deliver a written statement of such Lender to the Borrower (with a copy to the
Agent) as to the amount due, if any, under SECTION 3.1, 3.2, 3.4 or 3.5. Such
written statement shall set forth in reasonable detail the calculations upon
which such Lender determined such amount and shall be final, conclusive and
binding on the Borrower in the absence of manifest error. The Borrower shall
have no obligation to reimburse, compensate or indemnify any Lender with respect
to a claim under this ARTICLE III if the Lender fails to deliver such written
statement within 180 days after the date on which the Lender becomes aware of
the event or occurrence giving rise to such claim. Determination of amounts
payable under such Sections in connection with a Eurodollar Loan shall be
calculated as though each Lender funded its Eurodollar Loan through the purchase
of a deposit of the type and maturity corresponding to the deposit used as a
reference in determining the Eurodollar Rate applicable to such Loan, whether in
fact that is the case or not. Unless otherwise provided herein, the amount
specified in the written statement of any Lender shall be payable on demand
after receipt by the Borrower of such written statement. The

                                      -21-
<Page>

obligations of the Borrower under SECTIONS 3.1, 3.2, 3.4 and 3.5 shall survive
payment of the Obligations and termination of this Agreement.

                                   ARTICLE IV
                              CONDITIONS PRECEDENT

     4.1.    EFFECTIVENESS. This Agreement shall not become effective unless and
until the Borrower has furnished the following to the Agent with sufficient
copies for the Lenders and the other conditions set forth below have been
satisfied:

             (a)     CHARTER DOCUMENTS; GOOD STANDING CERTIFICATES. Copies of
the certificate of incorporation of the Borrower, together with all amendments
thereto, both certified by the appropriate governmental officer in its
jurisdiction of incorporation, together with a good standing certificate issued
by the Secretary of State of the jurisdiction of its incorporation and such
other jurisdictions as shall be requested by the Agent.

             (b)     BY-LAWS AND RESOLUTIONS. Copies, certified by the Secretary
or Assistant Secretary of the Borrower, of its by-laws and of its Board of
Directors' resolutions authorizing the execution, delivery and performance of
the Loan Documents by the Borrower.

             (c)     SECRETARY'S CERTIFICATE. An incumbency certificate,
executed by the Secretary or Assistant Secretary of the Borrower, which shall
identify by name and title and bear the signature of the officers of the
Borrower authorized to sign the Loan Documents and to make borrowings hereunder,
upon which certificate the Agent and the Lenders shall be entitled to rely until
informed of any change in writing by the Borrower.

             (d)     OFFICER'S CERTIFICATE. A certificate, dated the date of
this Agreement, signed by an Authorized Officer of the Borrower, in form and
substance satisfactory to the Agent, to the effect that: (i) on such date (both
before and after giving effect to the making of any Loans hereunder on such
date) no Default or Unmatured Default has occurred and is continuing; (ii) each
of the representations and warranties set forth in ARTICLE V of this Agreement
is true and correct on and as of such date; and (iii) since December 31, 2000 no
event or change has occurred that has caused or evidences a Material Adverse
Effect.

             (e)     LEGAL OPINIONS. Written opinions of internal counsel to the
Borrower and of Sidley Austin Brown & Wood, special counsel to the Borrower,
addressed to the Agent and the Lenders in form and substance acceptable to the
Agent and its counsel.

             (f)     NOTES. Any Notes requested by a Lender pursuant to SECTION
2.13 payable to the order of each such requesting Lender.

             (g)     LOAN DOCUMENTS. Executed originals of this Agreement and
each of the Loan Documents, which shall be in full force and effect, together
with all schedules, exhibits, certificates, instruments, opinions, documents and
financial statements required to be delivered pursuant hereto and thereto.

                                      -22-
<Page>

             (h)     LETTERS OF DIRECTION. Written money transfer instructions
in form and substance acceptable to the Agent and its counsel addressed to the
Agent and signed by an Authorized Officer, together with such other related
money transfer authorizations as the Agent may have reasonably requested.

             (i)     PAYMENT OF FEES. The Borrower shall have paid all fees due
to Bank One under the fee letter dated November 28, 2001.

             (j)     EXISTING CREDIT AGREEMENTS. The Existing Credit Agreements
shall have expired or been terminated and all amounts owing thereunder
(including all principal, interest and accrued fees) shall have been paid (or
shall contemporaneously be paid) in full.

             (k)     OTHER. Such other documents as the Agent, any Lender or
their counsel may have reasonably requested.

     4.2.    EACH ADVANCE. The Lenders shall not be required to make any Advance
unless on the applicable Borrowing Date:

             (a)     There exists no Default or Unmatured Default and none would
result from such Advance;

             (b)     The representations and warranties contained in ARTICLE V
(other than SECTION 5.6) are true and correct as of such Borrowing Date;

             (c)     A Borrowing Notice shall have been properly submitted; and

             (d)     All legal matters incident to the making of such Advance
shall be satisfactory to the Lenders and their counsel.

     Each Borrowing Notice with respect to each such Advance shall constitute a
representation and warranty by the Borrower that the conditions contained in
SECTION 4.2 have been satisfied. Any Lender may require a duly completed
compliance certificate in substantially the form of EXHIBIT B hereto as a
condition to making an Advance.

                                    ARTICLE V
                         REPRESENTATIONS AND WARRANTIES

     The Borrower represents and warrants to the Lenders that:

     5.1.    CORPORATE EXISTENCE AND STANDING. Each of the Borrower and its
Subsidiaries is a corporation duly and properly incorporated, validly existing
and in good standing under the laws of its jurisdiction of incorporation and is
duly qualified and in good standing as a foreign corporation and is duly
authorized to conduct its business in each jurisdiction in which its business is
conducted or proposed to be conducted except where failure to be so qualified or
authorized could not reasonably be expected to have a Material Adverse Effect.

                                      -23-
<Page>

     5.2.    AUTHORIZATION AND VALIDITY. The Borrower has all requisite power
and authority (corporate and otherwise) and legal right to execute and deliver
each of the Loan Documents and to perform its obligations thereunder. The
execution and delivery by the Borrower of the Loan Documents and the performance
of its obligations thereunder have been duly authorized by proper corporate
proceedings and the Loan Documents constitute legal, valid and binding
obligations of the Borrower enforceable against the Borrower, in accordance with
their terms, except as enforceability may be limited by bankruptcy, insolvency
or similar laws affecting the enforcement of creditors' rights generally.

     5.3.    COMPLIANCE WITH LAWS AND CONTRACTS. The Borrower and its
Subsidiaries have complied in all material respects with all applicable
statutes, rules, regulations, orders and restrictions of any domestic or foreign
government or any instrumentality or agency thereof, having jurisdiction over
the conduct of their respective businesses or the ownership of their respective
properties, except where the failure to so comply could not reasonably be
expected to have a Material Adverse Effect. Neither the execution and delivery
by the Borrower of the Loan Documents, the application of the proceeds of the
Loans, or any other transaction contemplated in the Loan Documents, nor
compliance with the provisions of the Loan Documents will, or at the relevant
time did, (a) violate any law, rule, regulation (including Regulation U), order,
writ, judgment, injunction, decree or award binding on the Borrower or any
Subsidiary or the Borrower's or any Subsidiary's charter, articles or
certificate of incorporation or by-laws, (b) violate the provisions of or
require the approval or consent of any party to any indenture, instrument or
agreement to which the Borrower or any Subsidiary is a party or is subject, or
by which it, or its property, is bound, or conflict with or constitute a default
thereunder, or result in the creation or imposition of any Lien (other than
Liens permitted by the Loan Documents) in, of or on the property of the Borrower
or any Subsidiary pursuant to the terms of any such indenture, instrument or
agreement, or (c) require any consent of the stockholders of any Person, except
for any violation of, or failure to obtain an approval or consent required
under, any such indenture, instrument or agreement that could not reasonably be
expected to have a Material Adverse Effect.

     5.4.    GOVERNMENTAL CONSENTS. No order, consent, approval, qualification,
license, authorization, or validation of, or filing, recording or registration
with, or exemption by, or other action in respect of, any court, governmental or
public body or authority, or any subdivision thereof, any securities exchange or
other Person is or at the relevant time was required to authorize, or is or at
the relevant time was required in connection with the execution, delivery,
consummation or performance of, or the legality, validity, binding effect or
enforceability of, any of the Loan Documents, the application of the proceeds of
the Loans or any other transactions contemplated in the Loan Documents. Neither
the Borrower nor any Subsidiary is in default under or in violation of any
foreign, federal, state or local law, rule, regulation, order, writ, judgment,
injunction, decree or award binding upon or applicable to the Borrower or such
Subsidiary, in each case the consequence of which default or violation could
reasonably be expected to have a Material Adverse Effect.

     5.5.    FINANCIAL STATEMENTS. The Borrower has heretofore furnished to each
of the Lenders (a) the December 31, 2000 audited consolidated financial
statements of the Borrower

                                      -24-
<Page>

and its Subsidiaries, and (b) the unaudited consolidated financial statements of
the Borrower and its Subsidiaries through September 30, 2001 (collectively, the
"FINANCIAL STATEMENTS"). Each of the Financial Statements was prepared in
accordance with Agreement Accounting Principles and fairly presents the
consolidated financial condition and operations of the Borrower and its
Subsidiaries at such dates and the consolidated results of their operations for
the respective periods then ended (except, in the case of such unaudited
statements, for normal year-end audit adjustments).

     5.6.    MATERIAL ADVERSE CHANGE. Since December 31, 2000, there has been no
change in the business, Property, condition (financial or otherwise),
performance, prospects or results of operations of the Borrower and its
Subsidiaries taken as a whole which could reasonably be expected to have a
Material Adverse Effect.

     5.7.    TAXES. The Borrower and its Subsidiaries have filed or caused to be
filed on a timely basis and in correct form all United States federal, state and
other material tax returns which are required to be filed and have paid all
taxes due pursuant to said returns or pursuant to any assessment received by the
Borrower or any Subsidiary, except such taxes, if any, as are being contested in
good faith and as to which adequate reserves have been provided in accordance
with Agreement Accounting Principles and as to which no Lien exists. As of the
date hereof, the United States income tax returns of the Borrower on a
consolidated basis have been audited by the Internal Revenue Service through its
Fiscal Year ending December 31, 1989. No tax liens have been filed and no claims
are being asserted with respect to any such taxes which could reasonably be
expected to have a Material Adverse Effect. The charges, accruals and reserves
on the books of the Borrower and its Subsidiaries in respect of any taxes or
other governmental charges are in accordance with Agreement Accounting
Principles.

     5.8.    LITIGATION AND CONTINGENT OBLIGATIONS. There is no litigation,
arbitration, proceeding, inquiry or governmental investigation (including,
without limitation, by the Federal Trade Commission) pending or, to the
knowledge of any of their officers, threatened against or affecting the Borrower
or any Subsidiary or any of their respective Properties that could reasonably be
expected to have a Material Adverse Effect or to prevent, enjoin or unduly delay
the making of the Loans under this Agreement.

     5.9.    ERISA. The Unfunded Liability of all Single Employer Plans does not
in the aggregate exceed twenty percent (20%) of the Total Plan Liability for all
Single Employer Plans. Neither the Borrower nor any other member of the
Controlled Group maintains, or is obligated to contribute to, any Multiemployer
Plan or has incurred, or is reasonably expected to incur, any withdrawal
liability to any Multiemployer Plan. Each Plan complies in all material respects
with all applicable requirements of law and regulations. Neither the Borrower
nor any member of the Controlled Group has, with respect to any Plan, failed to
make any contribution or pay any amount required under Section 412 of the Code
or Section 302 of ERISA or the terms of such Plan which could reasonably be
expected to have a Material Adverse Effect. There are no pending or, to the
knowledge of the Borrower, threatened claims, actions, investigations or
lawsuits against any Plan, any fiduciary thereof, or the Borrower or any member
of the Controlled Group with respect to a Plan which could reasonably be
expected to have a Material Adverse Effect. Neither the Borrower nor any member
of the Controlled Group has engaged in

                                      -25-
<Page>

any prohibited transaction (as defined in Section 4975 of the Code or Section
406 of ERISA) in connection with any Plan which would subject such Person to any
material liability. Within the last five (5) years neither the Borrower nor any
member of the Controlled Group has engaged in a transaction which resulted in a
Single Employer Plan with an Unfunded Liability being transferred out of the
Controlled Group which could reasonably be expected to have a Material Adverse
Effect. No Termination Event has occurred or is reasonably expected to occur
with respect to any Plan which is subject to Title IV of ERISA which could
reasonably be expected to have a Material Adverse Effect.

     5.10.   DEFAULTS. No Default or Unmatured Default has occurred and is
continuing.

     5.11.   REGULATION U. Margin Stock constitutes less than 25% of those
assets of the Borrower and its Subsidiaries which are subject to any limitation
on sale, pledge or other restriction hereunder. Neither the Borrower nor any
Subsidiary is engaged, directly or indirectly, principally, or as one of its
important activities, in the business of extending, or arranging for the
extension of, credit for the purpose of purchasing or carrying Margin Stock. No
part of the proceeds of any Loan will be used in a manner which would violate,
or result in a violation of, Regulation U. Neither the making of any Advance
hereunder nor the use of the proceeds thereof will violate or be inconsistent
with the provisions of Regulation U.

     5.12.   INVESTMENT COMPANY; PUBLIC UTILITY HOLDING COMPANY. Neither the
Borrower nor any Subsidiary is, or after giving effect to any Advance will be,
an "investment company" or a company "controlled" by an "investment company"
within the meaning of the Investment Company Act of 1940, as amended. Neither
the Borrower nor any Subsidiary is a "holding company", or an "affiliate" of a
"holding company" or of a "subsidiary company" of a "holding company", within
the meaning of the Public Utility Holding Company Act of 1935, as amended.

     5.13.   OWNERSHIP OF PROPERTIES. As of the date of this Agreement, the
Borrower and its Subsidiaries have a subsisting leasehold interest in, or good
and marketable title, free of all Liens, other than those permitted by SECTION
6.12 or by any of the other Loan Documents, to all of the properties and assets
reflected in the Financial Statements as being owned by it, except for assets
sold, transferred or otherwise disposed of in the ordinary course of business or
as required by or in connection with the CSC Spin-Off (provided that such sale,
transfer or other disposal in connection with the CSC Spin-Off could not
reasonably be expected to have a Material Adverse Effect) since the date
thereof. The Borrower and its Subsidiaries own or possess rights to use all
licenses, patents, patent applications, copyrights, service marks, trademarks
and trade names necessary to continue to conduct their business as heretofore
conducted, and no such license, patent or trademark has been declared invalid,
been limited by order of any court or by agreement or is the subject of any
infringement, interference or similar proceeding or challenge, except for
proceedings and challenges which could not reasonably be expected to have a
Material Adverse Effect.

     5.14.   MATERIAL AGREEMENTS. Neither the Borrower nor any Subsidiary is a
party to any agreement or instrument or subject to any charter or other
corporate restriction which could reasonably be expected to have a Material
Adverse Effect or which restricts or imposes conditions upon the ability of any
Subsidiary to (a) pay dividends or make other distributions on

                                      -26-
<Page>

its capital stock, (b) make loans or advances to the Borrower or (c) repay loans
or advances from the Borrower. Neither the Borrower nor any Subsidiary is in
default in the performance, observance or fulfillment of any of the obligations,
covenants or conditions contained in any agreement to which it is a party, which
default could reasonably be expected to have a Material Adverse Effect.

     5.15.   ENVIRONMENTAL LAWS. There are no claims, investigations,
litigation, administrative proceedings, notices, requests for information (each
a "PROCEEDING"), whether pending or threatened, or judgments or orders asserting
violations of applicable federal, state and local environmental, health and
safety statutes, regulations, ordinances, codes, rules, orders, decrees,
directives and standards ("ENVIRONMENTAL LAWS") or relating to any toxic or
hazardous waste, substance or chemical or any pollutant, contaminant, chemical
or other substance defined or regulated pursuant to any Environmental Law,
including, without limitation, asbestos, petroleum, crude oil or any fraction
thereof ("HAZARDOUS MATERIALS") asserted against the Borrower or any of its
Subsidiaries which, in any case, could reasonably be expected to have a Material
Adverse Effect. Neither the Borrower nor any Subsidiary has caused or permitted
any Hazardous Materials to be released, either on or under real property,
currently or formerly, legally or beneficially owned or operated by the Borrower
or any Subsidiary or on or under real property to which the Borrower or any of
its Subsidiaries transported, arranged for the transport or disposal of, or
disposed of Hazardous Materials, which release could reasonably be expected to
have a Material Adverse Effect.

     5.16.   INSURANCE. The Borrower and its Subsidiaries maintain, with
financially sound and reputable insurance companies, insurance on their Property
in such amounts and covering such risks as is consistent with sound business
practice.

     5.17.   INSURANCE LICENSES. No material license, permit or authorization of
the Borrower or any Subsidiary to engage in the business of insurance or
insurance-related activities is the subject of a proceeding for suspension or
revocation, except where such suspension or revocation would not individually or
in the aggregate have a Material Adverse Effect.

     5.18.   SOLVENCY. Immediately after the consummation of the CSC Spin-Off
and the making of any Loans related thereto, (a) the fair value of the assets of
the Post-Spin-Off Group on a consolidated basis, at a fair valuation, will
exceed the debts and liabilities, subordinated, contingent or otherwise, of the
Post-Spin-Off Group on a consolidated basis; (b) the present fair saleable value
of the Property of the Post-Spin-Off Group on a consolidated basis will be
greater than the amount that will be required to pay the probable liability of
the Post-Spin-Off Group on a consolidated basis on their debts and other
liabilities, subordinated, contingent or otherwise, as such debts and other
liabilities become absolute and matured; (c) the Post-Spin-Off Group on a
consolidated basis will be able to pay their debts and liabilities,
subordinated, contingent or otherwise, as such debts and liabilities become
absolute and matured; and (d) the Post-Spin-Off Group on a consolidated basis
will not have unreasonably small capital with which to conduct the businesses in
which they are engaged as such businesses are now conducted and as proposed to
be conducted taking into account the CSC Spin-Off.

                                      -27-
<Page>

     5.19.   DISCLOSURE. None of the (a) information, exhibits or reports
furnished or to be furnished by the Borrower or any Subsidiary to the Agent or
to any Lender in connection with the negotiation of the Loan Documents, or (b)
representations or warranties of the Borrower or any Subsidiary contained in
this Agreement, the other Loan Documents, or any other document, certificate or
written statement furnished to the Agent or the Lenders by or on behalf of the
Borrower or any Subsidiary for use in connection with the transactions
contemplated by this Agreement, as the case may be, contained, contains or will
contain any untrue statement of a material fact or omitted, omits or will omit
to state a material fact necessary in order to make the statements contained
herein or therein not misleading in light of the circumstances in which the same
were made. As of the date hereof, there is no fact known to the Borrower (other
than matters of a general economic nature) that has had or could reasonably be
expected to have a Material Adverse Effect and that has not been disclosed
herein or in such other documents, certificates and statements furnished to the
Lenders for use in connection with the transactions contemplated by this
Agreement.

                                   ARTICLE VI
                                    COVENANTS

     During the term of this Agreement, unless the Required Lenders shall
otherwise consent in writing:

     6.1.    FINANCIAL REPORTING. The Borrower will maintain, for itself and
each Subsidiary, a system of accounting established and administered in
accordance with generally accepted accounting principles, consistently applied,
and will furnish to the Lenders:

             (a)     As soon as practicable and in any event within ninety (90)
days after the close of each of its Fiscal Years, an unqualified audit report
certified by independent certified public accountants, acceptable to the
Lenders, prepared in accordance with Agreement Accounting Principles on a
consolidated basis for itself and its Subsidiaries, including balance sheets as
of the end of such period and related statements of income, retained earnings
and cash flows accompanied by (i) any management letter prepared by said
accountants and (ii) a certificate of said accountants that, in the course of
their examination necessary for their certification of the foregoing, they have
obtained no knowledge of any Default or Unmatured Default, or if, in the opinion
of such accountants, any Default or Unmatured Default shall exist, stating the
nature and status thereof.

             (b)     As soon as practicable and in any event within 45 days
after the close of the first three Fiscal Quarters of each of its Fiscal Years,
for itself and its Subsidiaries, consolidated unaudited balance sheets as at the
close of each such period and consolidated statements of income, retained
earnings and cash flows for the period from the beginning of such Fiscal Year to
the end of such quarter, all certified by its chief financial officer.

             (c)     Together with the financial statements required by CLAUSES
(a) and (b) above, a compliance certificate in substantially the form of EXHIBIT
B hereto signed by its chief financial officer showing the calculations
necessary to determine compliance with this

                                      -28-
<Page>

Agreement and stating that no Default or Unmatured Default exists, or if any
Default or Unmatured Default exists, stating the nature and status thereof.

             (d)     Within 270 days after the close of each Fiscal Year, a
statement of the Unfunded Liabilities of each Single Employer Plan, certified as
correct by an actuary enrolled under ERISA.

             (e)     As soon as possible and in any event within ten (10) days
after the Borrower knows that any Termination Event has occurred with respect to
any Plan, a statement, signed by the chief financial officer of the Borrower,
describing said Termination Event and the action which the Borrower proposes to
take with respect thereto.

             (f)     As soon as possible and in any event within ten (10) days
after the Borrower learns thereof, notice of the assertion or commencement of
any claims, action, suit or proceeding against or affecting the Company or any
Subsidiary which may reasonably be expected to have a Material Adverse Effect.

             (g)     Promptly upon learning thereof, notice of any change in the
credit rating of the Borrower's senior unsecured long term debt by S&P or
Moody's.

             (h)     Promptly upon the furnishing thereof to the shareholders of
the Borrower, copies of all financial statements, reports and proxy statements
so furnished.

             (i)     Promptly upon the filing thereof, copies of all
registration statements and annual, quarterly, monthly or other regular reports
which the Borrower or any of its Subsidiaries files with the Securities and
Exchange Commission.

             (j)     Promptly upon learning thereof, notice of the completion of
the CSC Spin-Off.

             (k)     Such other information (including, without limitation,
non-financial information) as the Agent or any Lender may from time to time
reasonably request.

     6.2.    USE OF PROCEEDS. The Borrower will, and will cause each Subsidiary
to, use the proceeds of the Advances to meet the general corporate needs of the
Borrower and its Subsidiaries, including commercial paper support. The Borrower
will not, nor will it permit any Subsidiary to, use any of the proceeds of the
Advances to purchase or carry any "margin stock" (as defined in Regulation U) or
to finance the acquisition of any Person which has not been approved and
recommended by the board of directors (or functional equivalent thereof) of such
Person.

     6.3.    NOTICE OF DEFAULT. The Borrower will give prompt notice in writing
to the Lenders of the occurrence of (a) any Default or Unmatured Default and (b)
of any other event or development, financial or other, relating specifically to
the Borrower or any of its Subsidiaries (and not of a general economic or
political nature) which could reasonably be expected to have a Material Adverse
Effect.

                                      -29-
<Page>

     6.4.    CONDUCT OF BUSINESS. The Borrower will, and will cause each
Subsidiary to, carry on and conduct its business in substantially the same
manner and in substantially the same fields of enterprise as it is presently
conducted and to do all things necessary to remain duly incorporated, validly
existing and in good standing as a domestic corporation in its jurisdiction of
incorporation and maintain all requisite authority to conduct its business in
each jurisdiction in which its business is conducted; PROVIDED, HOWEVER, that
nothing in this SECTION 6.4 shall prohibit (a) the dissolution or sale, transfer
or other disposition of any Subsidiary that is not otherwise prohibited by this
Agreement or (b) the occurrence of the CSC Spin-Off and the provision of the
Transitional Services.

     6.5.    TAXES. The Borrower will, and will cause each Subsidiary to, timely
file complete and correct United States federal and applicable foreign, state
and local tax returns required by applicable law and pay when due all taxes,
assessments and governmental charges and levies upon it or its income, profits
or Property, except those which are being contested in good faith by appropriate
proceedings and with respect to which adequate reserves have been set aside.

     6.6.    INSURANCE. The Borrower will, and will cause each Subsidiary to,
maintain with financially sound and reputable insurance companies insurance on
all their Property in such amounts and covering such risks as is consistent with
sound business practice, and the Borrower will furnish to the Agent and any
Lender upon request full information as to the insurance carried.

     6.7.    COMPLIANCE WITH LAWS. The Borrower will, and will cause each
Subsidiary to, comply with all laws, rules, regulations, orders, writs,
judgments, injunctions, decrees or awards to which it may be subject, the
failure to comply with which could reasonably be expected to have a Material
Adverse Effect.

     6.8.    MAINTENANCE OF PROPERTIES. The Borrower will, and will cause each
Subsidiary to, do all things necessary to maintain, preserve, protect and keep
its Property in good repair, working order and condition, and make all necessary
and proper repairs, renewals and replacements so that its business carried on in
connection therewith may be properly conducted at all times.

     6.9.    INSPECTION. The Borrower will, and will cause each Subsidiary to,
permit the Agent and the Lenders, by their respective representatives and
agents, to inspect any of the Property, corporate books and financial records of
the Borrower and each Subsidiary, to examine and make copies of the books of
accounts and other financial records of the Borrower and each Subsidiary, and to
discuss the affairs, finances and accounts of the Borrower and each Subsidiary
with, and to be advised as to the same by, their respective officers at such
reasonable times and intervals as the Lenders may designate. The Borrower will
keep or cause to be kept, and cause each Subsidiary to keep or cause to be kept,
appropriate records and books of account in which complete entries are to be
made reflecting its and their business and financial transactions, such entries
to be made in accordance with Agreement Accounting Principles consistently
applied.

     6.10.   CAPITAL STOCK AND DIVIDENDS. So long as any Default or Unmatured
Default has occurred and is continuing, the Borrower will not declare or pay any
dividends or make any

                                      -30-
<Page>

distributions on its capital stock (other than dividends payable in its own
capital stock) or redeem, repurchase or otherwise acquire or retire any of its
capital stock or any options or other rights in respect thereof at any time
outstanding, other than any such dividend or distribution required in connection
with the CSC Spin-Off; PROVIDED that no such dividend or distribution could
reasonably be expected to have a Material Adverse Effect.

     6.11.   MERGER. Except with respect to any transaction or step required in
connection with the CSC Spin-Off (provided that no such transaction or step
could reasonably be expected to have a Material Adverse Effect), the Borrower
will not, nor will it permit any Subsidiary to, merge or consolidate with or
into any other Person, except that (a) a Wholly-Owned Subsidiary may merge into
the Borrower or any Wholly-Owned Subsidiary of the Borrower, (b) the Borrower or
any Subsidiary may merge or consolidate with any other Person so long as the
Borrower or such Subsidiary is the continuing or surviving corporation and,
prior to and after giving effect to such merger or consolidation, no Default or
Unmatured Default shall exist, and (c) any Subsidiary may enter into a merger or
consolidation as a means of effecting a disposition or acquisition which would
not result in a Default or Unmatured Default.

     6.12.   LIENS. The Borrower will not, nor will it permit any Subsidiary to,
create, incur, or suffer to exist any Lien in, of or on the Property of the
Borrower or any of its Subsidiaries, except:

             (a)     Liens for taxes, assessments or governmental charges or
levies on its Property if the same shall not at the time be delinquent or
thereafter can be paid without penalty, or are being contested in good faith and
by appropriate proceedings and for which adequate reserves in accordance with
generally accepted principles of accounting shall have been set aside on its
books;

             (b)     Liens imposed by law, such as carriers', warehousemen's and
mechanics' liens and other similar liens arising in the ordinary course of
business which secure the payment of obligations not more than sixty (60) days
past due or which are being contested in good faith by appropriate proceedings
and for which adequate reserves shall have been set aside on its books;

             (c)     Liens arising out of pledges or deposits under worker's
compensation laws, unemployment insurance, old age pensions, or other social
security or retirement benefits, or similar legislation;

             (d)     Utility easements, building restrictions and such other
encumbrances or charges against real property as are of a nature generally
existing with respect to properties of a similar character and which do not in
any material way affect the marketability of the same or interfere with the use
thereof in the business of the Borrower or the Subsidiaries;

             (e)     Encumbrances over and limited to the balance of credit
balances on bank accounts of the Borrower and its Subsidiaries created in order
to facilitate the operation of such bank accounts and other bank accounts of the
Borrower and its Subsidiaries on a net balance

                                      -31-
<Page>

basis with credit balances and debit balances on the various accounts being
netted off for interest purposes;

             (f)     Any Lien arising by operation of law in the ordinary course
of trading in respect of any obligation which is less than sixty (60) days
overdue or which is being contested in good faith and by appropriate means and
for which adequate reserves have been made;

             (g)     Encumbrances created by any of the Borrower or its
Subsidiaries over deposits and investments in the ordinary course of such
Person's insurance and reinsurance trade to comply with the requirements of any
regulatory body of insurance or insurance broking business; and

             (h)     Other Liens securing an aggregate principal amount of
obligations at no time exceeding an amount equal to ten percent (10%) of
Consolidated Net Worth at such time; PROVIDED, HOWEVER that during any period
when the sum of (i) the aggregate principal amount of all obligations secured
pursuant to this SECTION 6.12(h) plus (ii) the aggregate Unfunded Liability of
all Single Employer Plans exceeds ten percent (10%) of Consolidated Net Worth,
the creation of additional Liens otherwise allowed hereunder shall be permitted
by this SECTION 6.12(h) only to the extent they secure an aggregate principal
amount of obligations not in excess of one percent (1%) of Consolidated Net
Worth.

     6.13.   AFFILIATES. The Borrower will not, and will not permit any
Subsidiary to, enter into any transaction (including, without limitation, the
purchase or sale of any Property or service) with, or make any payment or
transfer to, any Affiliate except (a) for transactions between the Borrower and
any Wholly-Owned Subsidiary of the Borrower or between Wholly-Owned Subsidiaries
of the Borrower, (b) in the ordinary course of business and pursuant to the
reasonable requirements of the Borrower's or such Subsidiary's business and upon
fair and reasonable terms no less favorable to the Borrower or such Subsidiary
than the Borrower or such Subsidiary would obtain in a comparable arms-length
transaction and (c) as required in connection with the CSC Spin-Off; PROVIDED
that no such transaction, payment or transfer could reasonably be expected to
have a Material Adverse Effect.

     6.14.   CHANGE IN FISCAL YEAR. The Borrower shall not change its Fiscal
Year to end on any date other than December 31 of each year.

     6.15.   INCONSISTENT AGREEMENTS. The Borrower shall not, nor shall it
permit any Subsidiary to, enter into any indenture, agreement, instrument or
other arrangement which, (a) directly or indirectly prohibits or restrains, or
has the effect of prohibiting or restraining, or imposes materially adverse
conditions upon, the incurrence of the Obligations, the amending of the Loan
Documents or the ability of any Subsidiary to (i) pay dividends or make other
distributions on its capital stock, (ii) make loans or advances to the Borrower
or (iii) repay loans or advances from the Borrower or (b) contains any provision
which would be violated or breached by the making of Advances or by the
performance by the Borrower of any of its obligations under any Loan Document.

                                      -32-
<Page>

     6.16.   SALE OF ASSETS. Except with respect to any transaction or step
required in connection with the CSC Spin-Off (provided that no such transaction
or step could reasonably be expected to have a Material Adverse Effect), the
Borrower will not, nor will it permit any Subsidiary to, lease, sell or
otherwise dispose of Property which represents more than 25% of the consolidated
assets of the Borrower and its Subsidiaries, as would be shown in the
consolidated financial statements of the Borrower and its Subsidiaries as at the
end of the quarter immediately preceding the date on which such determination is
made, to any other Person(s) in any Fiscal Year.

     6.17.   FINANCIAL COVENANTS.

             6.17.1. MINIMUM CONSOLIDATED NET WORTH. The Borrower shall at all
     times prior to the CSC Spin-Off maintain a minimum Consolidated Net Worth
     of at least $2,500,000,000 and shall at all times from and after the CSC
     Spin-Off maintain a minimum Consolidated Net Worth of at least
     $2,000,000,000.

             6.17.2. CONSOLIDATED EBITDA TO CONSOLIDATED INTEREST EXPENSE. The
     Borrower will maintain, as at the last day of each of its fiscal quarters,
     a ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in
     each case calculated for the four fiscal quarters then ending, of not less
     than 4.0 to 1.0.

     6.18.   ERISA. The Borrower will (a) fulfill, and cause each member of the
Controlled Group to fulfill, its obligations under the minimum funding standards
of ERISA and the Code with respect to each Plan, except where a failure to
fulfill such obligations individually or in the aggregate could not reasonably
be expected to have a Material Adverse Effect, (b) comply, and cause each member
of the Controlled Group to comply, with all applicable provisions of ERISA and
the Code with respect to each Plan, except where such failure or noncompliance
individually or in the aggregate would not have a Material Adverse Effect and
(c) not, and not permit any member of the Controlled Group to, (i) seek a waiver
of the minimum funding standards under ERISA, (ii) terminate or withdraw from
any Plan or (iii) take any other action with respect to any Plan which would
reasonably be expected to entitle the PBGC to terminate, impose liability in
respect of, or cause a trustee to be appointed to administer, any Plan, unless
the actions or events described in the foregoing clauses (i), (ii) or (iii)
individually or in the aggregate would not have a Material Adverse Effect.

                                   ARTICLE VII
                                    DEFAULTS

     The occurrence of any one or more of the following events shall constitute
a Default:

     7.1.    Any representation or warranty made or deemed made by or on behalf
of the Borrower or any of its Subsidiaries to the Lenders or the Agent under or
in connection with this Agreement, any other Loan Document, any Loan, or any
certificate or information delivered in connection with this Agreement or any
other Loan Document shall be false in any material respect on the date as of
which made or deemed made.

                                      -33-
<Page>

     7.2.    Nonpayment of (a) any principal of any Loan when due, or (b) any
interest upon any Loan or any facility fee, utilization fee or other fee or
obligations under any of the Loan Documents within five (5) days after the same
becomes due.

     7.3.    The breach by the Borrower of any of the terms or provisions of
SECTION 6.2, SECTION 6.3(a) or SECTIONS 6.10 through 6.18.

     7.4.    The breach by the Borrower (other than a breach which constitutes a
Default under SECTION 7.1, 7.2 or 7.3) of any of the terms or provisions of this
Agreement which is not remedied within twenty (20) days after written notice
from the Agent or any Lender.

     7.5.    Failure of the Borrower or any of its Subsidiaries to pay any
Indebtedness aggregating in excess of $25,000,000 when due; or the default by
the Borrower or any of its Subsidiaries in the performance of any term,
provision or condition contained in any agreement or agreements under which any
such Indebtedness was created or is governed, or the occurrence of any other
event or existence of any other condition, the effect of any of which is to
cause, or to permit the holder or holders of such Indebtedness to cause, such
Indebtedness to become due prior to its stated maturity; or any such
Indebtedness of the Borrower or any of its Subsidiaries shall be declared to be
due and payable or required to be prepaid (other than by a regularly scheduled
payment) prior to the stated maturity thereof.

     7.6.    The Borrower or any of its Subsidiaries shall (a) have an order for
relief entered with respect to it under the Federal bankruptcy laws as now or
hereafter in effect, (b) make an assignment for the benefit of creditors, (c)
apply for, seek, consent to, or acquiesce in, the appointment of a receiver,
custodian, trustee, examiner, liquidator or similar official for it or any
Substantial Portion of its Property, (d) institute any proceeding seeking an
order for relief under the Federal bankruptcy laws as now or hereafter in effect
or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution,
winding up, liquidation, reorganization, arrangement, adjustment or composition
of it or its debts under any law relating to bankruptcy, insolvency or
reorganization or relief of debtors or fail to file an answer or other pleading
denying the material allegations of any such proceeding filed against it, (e)
take any corporate action to authorize or effect any of the foregoing actions
set forth in this SECTION 7.6, (f) fail to contest in good faith any appointment
or proceeding described in SECTION 7.7 or (g) become unable to pay, not pay, or
admit in writing its inability to pay, its debts generally as they become due.

     7.7.    Without the application, approval or consent of the Borrower or any
of its Subsidiaries, a receiver, trustee, examiner, liquidator or similar
official shall be appointed for the Borrower or any of its Subsidiaries or any
Substantial Portion of its Property, or a proceeding described in SECTION 7.6(d)
shall be instituted against the Borrower or any of its Subsidiaries and such
appointment continues undischarged or such proceeding continues undismissed or
unstayed for a period of sixty (60) consecutive days.

     7.8.    Any court, government or governmental agency shall condemn, seize
or otherwise appropriate, or take custody or control of (each a "CONDEMNATION"),
all or any portion of the Property of the Borrower and its  Subsidiaries  which,
when taken together with all other Property of the Borrower and its Subsidiaries
so condemned, seized, appropriated, or taken custody or

                                      -34-
<Page>

control of, during the twelve-month period ending with the month in which any
such Condemnation occurs, constitutes a Substantial Portion.

     7.9.    The Borrower or any of its Subsidiaries shall fail within thirty
(30) days to pay, bond or otherwise discharge any judgment or order for the
payment of money in excess of $25,000,000 (or multiple judgments or orders for
the payment of an aggregate amount in excess of $50,000,000), which is not
stayed on appeal or otherwise being appropriately contested in good faith and as
to which no enforcement actions have been commenced.

     7.10.   Any Change in Control shall occur.

     7.11.   The Unfunded Liabilities of all Single Employer Plans shall exceed
in the aggregate twenty percent (20%) of the Total Plan Liability for all Single
Employer Plans or any Termination Event shall occur in connection with any Plan
which could reasonably be expected to have a Material Adverse Effect.

                                  ARTICLE VIII
                 ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES

     8.1.    ACCELERATION. If any Default described in SECTION 7.6 or 7.7 occurs
with respect to the Borrower, the obligations of the Lenders to make Loans
hereunder shall automatically terminate and the Obligations shall immediately
become due and payable without any election or action on the part of the Agent
or any Lender. If any other Default occurs, the Required Lenders (or the Agent
with the consent or upon the instruction of the Required Lenders) may terminate
or suspend the obligations of the Lenders to make Loans hereunder, or declare
the Obligations to be due and payable, or both, whereupon the Obligations shall
become immediately due and payable, without presentment, demand, protest or
notice of any kind, all of which the Borrower hereby expressly waives.

     If, within ten (10) Business Days after acceleration of the maturity of the
Obligations or termination of the obligations of the Lenders to make Loans
hereunder as a result of any Default (other than any Default as described in
SECTION 7.6 or 7.7 with respect to the Borrower) and before any judgment or
decree for the payment of the Obligations due shall have been obtained or
entered, the Required Lenders (or, in the case of an acceleration and/or
termination upon the occurrence of a Default under SECTION 7.10, the Modified
Required Lenders), in their sole discretion, shall so direct, the Agent shall,
by notice to the Borrower, rescind and annul such acceleration and/or
termination.

     8.2.    AMENDMENTS. Subject to the provisions of this ARTICLE VIII, the
Required Lenders (or the Agent with the consent in writing of the Required
Lenders) and the Borrower may enter into agreements supplemental hereto for the
purpose of adding or modifying any provisions to the Loan Documents or changing
in any manner the rights of the Lenders or the Borrower hereunder or thereunder
or waiving any Default hereunder or thereunder; PROVIDED, HOWEVER, that no such
supplemental agreement shall, without the consent of each Lender:

                                      -35-
<Page>

             (a)     Extend the Facility Termination Date, compromise or forgive
the principal amount of any Loan, or reduce the rate of interest or compromise
or forgive payment of interest on any Loan, or reduce the amount of any fee
payable hereunder;

             (b)     Reduce the percentage specified in the definition of
Required Lenders or Modified Required Lenders;

             (c)     Increase the amount of the Commitment of any Lender

hereunder;

             (d)     Amend this SECTION 8.2; or

             (e)     Permit any assignment by the Borrower of its Obligations or
its rights hereunder.

PROVIDED, FURTHER, that no such supplemental agreement shall, without the
consent of the Modified Required Lenders amend the definition of "Change of
Control" or amend or waive SECTION 7.10.

     No amendment of any provision of this Agreement relating to the Agent shall
be effective without the written consent of the Agent. The Agent may waive
payment of the fee required under SECTION 12.3.2 without obtaining the consent
of any other party to this Agreement.

     8.3.    PRESERVATION OF RIGHTS. No delay or omission of the Lenders or the
Agent to exercise any right under the Loan Documents shall impair such right or
be construed to be a waiver of any Default or an acquiescence therein, and the
making of a Loan notwithstanding the existence of a Default or the inability of
the Borrower to satisfy the conditions precedent to such Loan shall not
constitute any waiver or acquiescence. Any single or partial exercise of any
such right shall not preclude other or further exercise thereof or the exercise
of any other right, and no waiver, amendment or other variation of the terms,
conditions or provisions of the Loan Documents whatsoever shall be valid unless
in writing signed by the Lenders required pursuant to SECTION 8.2, and then only
to the extent in such writing specifically set forth. All remedies contained in
the Loan Documents or by law afforded shall be cumulative and all shall be
available to the Agent and the Lenders until the Obligations have been paid in
full.

                                   ARTICLE IX
                               GENERAL PROVISIONS

     9.1.    SURVIVAL OF REPRESENTATIONS. All representations and warranties of
the Borrower contained in this Agreement or of the Borrower or any Subsidiary
contained in any Loan Document shall survive the making of the Loans herein
contemplated.

     9.2.    GOVERNMENTAL REGULATION. Anything contained in this Agreement to
the contrary notwithstanding, no Lender shall be obligated to extend credit to
the Borrower in violation of any limitation or prohibition provided by any
applicable statute or regulation.

                                      -36-
<Page>

     9.3.    HEADINGS. Section headings in the Loan Documents are for
convenience of reference only, and shall not govern the interpretation of any of
the provisions of the Loan Documents.

     9.4.    ENTIRE AGREEMENT. The Loan Documents embody the entire agreement
and understanding among the Borrower, the Agent and the Lenders and supersede
all prior agreements and understandings among the Borrower, the Agent and the
Lenders relating to the subject matter thereof other than the fee letter
described in SECTION 10.13.

     9.5.    SEVERAL OBLIGATIONS; BENEFITS OF THIS AGREEMENT. The respective
obligations of the Lenders hereunder are several and not joint and no Lender
shall be the partner or agent of any other (except to the extent to which the
Agent is authorized to act as such). The failure of any Lender to perform any of
its obligations hereunder shall not relieve any other Lender from any of its
obligations hereunder. This Agreement shall not be construed so as to confer any
right or benefit upon any Person other than the parties to this Agreement and
their respective successors and assigns; PROVIDED, HOWEVER, that the parties
hereto expressly agree that the Arranger shall enjoy the benefits of the
provisions of SECTIONS 9.6, 9.10 and 10.11 to the extent specifically set forth
therein and shall have the right to enforce such provisions on its own behalf
and in its own name to the same extent as if it were a party to this Agreement.

     9.6.    EXPENSES; INDEMNIFICATION. The Borrower shall reimburse the Agent
and the Arranger for any costs, internal charges and out-of-pocket expenses
(including attorneys' fees and time charges of attorneys for the Agent or the
Arranger, which attorneys may be employees of the Agent or the Arranger) paid or
incurred by the Agent or the Arranger in connection with the preparation,
negotiation, execution, delivery, syndication, distribution (including, without
limitation, via the internet), review, amendment, modification, and
administration of the Loan Documents. The Borrower also agrees to reimburse the
Agent, the Arranger and the Lenders for any costs, internal charges and
out-of-pocket expenses (including attorneys' fees and time charges of attorneys
for the Agent, the Arranger and the Lenders, which attorneys may be employees of
the Agent, the Arranger or the Lenders) paid or incurred by the Agent, the
Arranger or any Lender in connection with the collection of the Obligations or
the enforcement of the Loan Documents. The Borrower further agrees to indemnify
the Agent, the Arranger, each Lender, their respective affiliates, and each of
their directors, officers and employees against all losses, claims, damages,
penalties, judgments, liabilities and expenses (including, without limitation,
all expenses of litigation or preparation therefor whether or not the Agent, the
Arranger, any Lender or any affiliate is a party thereto) which any of them may
pay or incur arising out of or relating to this Agreement, the other Loan
Documents, the transactions contemplated hereby, or the direct or indirect
application or proposed application of the proceeds of any Loan hereunder except
to the extent that they are determined in a final non-appealable judgment by a
court of competent jurisdiction to have resulted from the gross negligence or
willful misconduct of the party seeking indemnification. The obligations of the
Borrower under this SECTION 9.6 shall survive the termination of this Agreement.

     9.7.    NUMBERS OF DOCUMENTS. All statements, notices, closing documents,
and requests hereunder shall be furnished to the Agent with sufficient
counterparts so that the Agent may furnish one to each of the Lenders.

                                      -37-
<Page>

     9.8.    ACCOUNTING. Except as provided to the contrary herein, all
accounting terms used herein shall be interpreted and all accounting
determinations hereunder shall be made in accordance with Agreement Accounting
Principles.

     9.9.    SEVERABILITY OF PROVISIONS. Any provision in any Loan Document that
is held to be inoperative, unenforceable, or invalid in any jurisdiction shall,
as to that jurisdiction, be inoperative, unenforceable, or invalid without
affecting the remaining provisions in that jurisdiction or the operation,
enforceability, or validity of that provision in any other jurisdiction, and to
this end the provisions of all Loan Documents are declared to be severable.

     9.10.   NONLIABILITY OF LENDERS. The relationship between the Borrower on
the one hand and the Lenders and the Agent on the other hand shall be solely
that of borrower and lender. Neither the Agent, the Arranger nor any Lender
shall have any fiduciary responsibilities to the Borrower. Neither the Agent,
the Arranger nor any Lender undertakes any responsibility to the Borrower to
review or inform the Borrower of any matter in connection with any phase of the
Borrower's business or operations. Neither the Agent, the Arranger nor any
Lender shall have any liability with respect to, and the Borrower hereby waives,
releases and agrees not to sue for, any special, indirect, consequential or
punitive damages suffered by the Borrower in connection with, arising out of, or
in any way related to the Loan Documents or the transactions contemplated
thereby.

     9.11.   CONFIDENTIALITY. Each Lender agrees to hold any confidential
information which it may receive from the Borrower pursuant to this Agreement in
confidence, except for disclosure (i) to its Affiliates and to other Lenders and
their respective Affiliates, (ii) to legal counsel, accountants, and other
professional advisors to such Lender or to a Transferee, (iii) to regulatory
officials, (iv) to any Person as requested pursuant to or as required by law,
regulation, or legal process, (v) to any Person in connection with any legal
proceeding to which such Lender is a party, (vi) to such Lender's direct or
indirect contractual counterparties in swap agreements or to legal counsel,
accountants and other professional advisors to such counterparties, and (vii)
permitted by Section 12.4.

     9.12.   DISCLOSURE. The Borrower and each Lender hereby acknowledge and
agree that Bank One and/or its Affiliates from time to time may hold investments
in, make other loans to or have other relationships with the Borrower and its
Affiliates.

                                    ARTICLE X
                                    THE AGENT

     10.1.   APPOINTMENT. Bank One, NA is hereby appointed by each of the
Lenders as its contractual representative (herein referred to as the "Agent")
hereunder and under each other Loan Document, and each of the Lenders
irrevocably (subject to Section 10.12) authorizes the Agent to act as the
contractual representative of such Lender with the rights and duties expressly
set forth herein and in the other Loan Documents. The Agent agrees to act as
such contractual representative upon the express conditions contained in this
ARTICLE X. Notwithstanding the use of the defined term "Agent," it is expressly
understood and agreed that the Agent shall not have any fiduciary
responsibilities to any Lender by reason of this Agreement or any other Loan

                                      -38-
<Page>

Document and that the Agent is merely acting as the contractual representative
of the Lenders with only those duties as are expressly set forth in this
Agreement and the other Loan Documents. In its capacity as the Lenders'
contractual representative, the Agent (i) does not hereby assume any fiduciary
duties to any of the Lenders, (ii) is a "representative" of the Lenders within
the meaning of Section 1-201 of the Uniform Commercial Code and (iii) is acting
as an independent contractor, the rights and duties of which are limited to
those expressly set forth in this Agreement and the other Loan Documents. Each
of the Lenders hereby agrees to assert no claim against the Agent on any agency
theory or any other theory of liability for breach of fiduciary duty, all of
which claims each Lender hereby waives.

     10.2.   POWERS. The Agent shall have and may exercise such powers under the
Loan Documents as are specifically delegated to the Agent by the terms of each
thereof, together with such powers as are reasonably incidental thereto. The
Agent shall have no implied duties to the Lenders, or any obligation to the
Lenders to take any action thereunder, except any action specifically provided
by the Loan Documents to be taken by the Agent.

     10.3.   GENERAL IMMUNITY. Neither the Agent nor any of its directors,
officers, agents or employees shall be liable to the Borrower or any Lender for
any action taken or omitted to be taken by it or them hereunder or under any
other Loan Document or in connection herewith or therewith except to the extent
such action or inaction is determined in a final non-appealable judgment by a
court of competent jurisdiction to have arisen from the gross negligence or
willful misconduct of such Person.

     10.4.   NO RESPONSIBILITY FOR LOANS, RECITALS, ETC. Neither the Agent nor
any of its directors, officers, agents or employees shall be responsible for or
have any duty to ascertain, inquire into, or verify (a) any statement, warranty
or representation made in connection with any Loan Document or any borrowing
hereunder; (b) the performance or observance of any of the covenants or
agreements of any obligor under any Loan Document, including, without
limitation, any agreement by an obligor to furnish information directly to each
Lender; (c) the satisfaction of any condition specified in ARTICLE IV, except
receipt of items required to be delivered solely to the Agent; (d) the existence
or possible existence of any Default or Unmatured Default; (e) the validity,
enforceability, effectiveness, sufficiency or genuineness of any Loan Document
or any other instrument or writing furnished in connection therewith; (f) the
value, sufficiency, creation, perfection or priority of any Lien in any
collateral security; or (g) the financial condition of the Borrower or any
guarantor of any of the Obligations or of any of the Borrower's or any such
guarantor's respective Subsidiaries. The Agent shall have no duty to disclose to
the Lenders information that is not required to be furnished by the Borrower to
the Agent at such time, but is voluntarily furnished by the Borrower to the
Agent (either in its capacity as Agent or in its individual capacity).

     10.5.   ACTION ON INSTRUCTIONS OF LENDERS. The Agent shall in all cases be
fully protected in acting, or in refraining from acting, hereunder and under any
other Loan Document in accordance with written instructions signed by the
Required Lenders or, if expressly required hereunder, the Modified Required
Lenders or all the Lenders, and such instructions and any action taken or
failure to act pursuant thereto shall be binding on all of the Lenders. The
Lenders hereby acknowledge that the Agent shall be under no duty to take any
discretionary action

                                      -39-
<Page>

permitted to be taken by it pursuant to the provisions of this Agreement or any
other Loan Document unless it shall be requested in writing to do so by the
Required Lenders or, if expressly required hereunder, the Modified Required
Lenders or all the Lenders. The Agent shall be fully justified in failing or
refusing to take any action hereunder and under any other Loan Document unless
it shall first be indemnified to its satisfaction by the Lenders pro-rata
against any and all liability, cost and expense that it may incur by reason of
taking or continuing to take any such action.

     10.6.   EMPLOYMENT OF AGENTS AND COUNSEL. The Agent may execute any of its
duties as Agent hereunder and under any other Loan Document by or through
employees, agents and attorneys-in-fact and shall not be answerable to the
Lenders, except as to money or securities received by it or its authorized
agents, for the default or misconduct of any such agents or attorneys-in-fact
selected by it with reasonable care. The Agent shall be entitled to advice of
counsel concerning the contractual arrangement between the Agent and the Lenders
and all matters pertaining to the Agent's duties hereunder and under any other
Loan Document.

     10.7.   RELIANCE ON DOCUMENTS; COUNSEL. The Agent shall be entitled to rely
upon any Note, notice, consent, certificate, affidavit, letter, telegram,
statement, paper or document believed by it to be genuine and correct and to
have been signed or sent by the proper person or persons, and, in respect to
legal matters, upon the opinion of counsel selected by the Agent, which counsel
may be employees of the Agent.

     10.8.   AGENT'S REIMBURSEMENT AND INDEMNIFICATION. The Lenders agree to
reimburse and indemnify the Agent ratably in proportion to their respective
Commitments (or, if the Commitments have been terminated, in proportion to their
Commitments immediately prior to such termination) (i) for any amounts not
reimbursed by the Borrower for which the Agent is entitled to reimbursement by
the Borrower under the Loan Documents, (ii) for any other expenses incurred by
the Agent on behalf of the Lenders, in connection with the preparation,
execution, delivery, administration and enforcement of the Loan Documents
(including, without limitation, for any expenses incurred by the Agent in
connection with any dispute between the Agent and any Lender or between two or
more of the Lenders) and (iii) for any liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, costs, expenses or disbursements
of any kind and nature whatsoever which may be imposed on, incurred by or
asserted against the Agent in any way relating to or arising out of the Loan
Documents or any other document delivered in connection therewith or the
transactions contemplated thereby (including, without limitation, for any such
amounts incurred by or asserted against the Agent in connection with any dispute
between the Agent and any Lender or between two or more of the Lenders), or the
enforcement of any of the terms of the Loan Documents or of any such other
documents, PROVIDED that (i) no Lender shall be liable for any of the foregoing
to the extent any of the foregoing is found in a final non-appealable judgment
by a court of competent jurisdiction to have resulted from the gross negligence
or willful misconduct of the Agent and (ii) any indemnification required
pursuant to SECTION 3.5(g) shall, notwithstanding the provisions of this SECTION
10.8, be paid by the relevant Lender in accordance with the provisions thereof.
The obligations of the Lenders under this SECTION 10.8 shall survive payment of
the Obligations and termination of this Agreement.

                                      -40-
<Page>

     10.9.   NOTICE OF DEFAULT. The Agent shall not be deemed to have knowledge
or notice of the occurrence of any Default or Unmatured Default hereunder unless
the Agent has received written notice from a Lender or the Borrower referring to
this Agreement describing such Default or Unmatured Default and stating that
such notice is a "notice of default". In the event that the Agent receives such
a notice, the Agent shall give prompt notice thereof to the Lenders.

     10.10.  RIGHTS AS A LENDER. In the event the Agent is a Lender, the Agent
shall have the same rights and powers hereunder and under any other Loan
Document with respect to its Commitment and its Loans as any Lender and may
exercise the same as though it were not the Agent, and the term "Lender" or
"Lenders" shall, at any time when the Agent is a Lender, unless the context
otherwise indicates, include the Agent in its individual capacity. The Agent and
its Affiliates may accept deposits from, lend money to, and generally engage in
any kind of trust, debt, equity or other transaction, in addition to those
contemplated by this Agreement or any other Loan Document, with the Borrower or
any of its Subsidiaries in which the Borrower or such Subsidiary is not
restricted hereby from engaging with any other Person. The Agent, in its
individual capacity, is not obligated to remain a Lender.

     10.11.  LENDER CREDIT DECISION. Each Lender acknowledges that it has,
independently and without reliance upon the Agent, the Arranger or any other
Lender and based on the financial statements prepared by the Borrower and such
other documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement and the other Loan
Documents. Each Lender also acknowledges that it will, independently and without
reliance upon the Agent, the Arranger or any other Lender and based on such
documents and information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under this
Agreement and the other Loan Documents.

     10.12.  SUCCESSOR AGENT. The Agent may resign at any time by giving written
notice thereof to the Lenders and the Borrower, such resignation to be effective
upon the appointment of a successor Agent or, if no successor Agent has been
appointed, 45 days after the retiring Agent gives notice of its intention to
resign. The Agent may be removed at any time with or without cause by written
notice received by the Agent from the Required Lenders, such removal to be
effective on the date specified by the Required Lenders. Upon any such
resignation or removal, the Required Lenders shall have the right to appoint, on
behalf of the Borrower and the Lenders, a successor Agent. If no successor Agent
shall have been so appointed by the Required Lenders within thirty (30) days
after the resigning Agent's giving notice of its intention to resign, then the
resigning Agent may appoint, on behalf of the Borrower and the Lenders, a
successor Agent. Notwithstanding the previous sentence, the Agent may at any
time without the consent of the Borrower or any Lender, appoint any of its
Affiliates which is a commercial bank as a successor Agent hereunder. If the
Agent has resigned or been removed and no successor Agent has been appointed,
the Lenders may perform all the duties of the Agent hereunder and the Borrower
shall make all payments in respect of the Obligations to the applicable Lender
and for all other purposes shall deal directly with the Lenders; PROVIDED, such
Lenders so performing such duties shall be deemed to be an Agent hereunder with
full benefit of all provisions indemnifying the Agent hereunder. No successor
Agent shall be deemed to be appointed hereunder until such successor Agent has
accepted the appointment. Any such successor Agent

                                      -41-
<Page>

shall be a commercial bank having capital and retained earnings of at least
$100,000,000. Upon the acceptance of any appointment as Agent hereunder by a
successor Agent, such successor Agent shall thereupon succeed to and become
vested with all the rights, powers, privileges and duties of the resigning or
removed Agent. Upon the effectiveness of the resignation or removal of the
Agent, the resigning or removed Agent shall be discharged from its duties and
obligations hereunder and under the Loan Documents. After the effectiveness of
the resignation or removal of an Agent, the provisions of this ARTICLE X shall
continue in effect for the benefit of such Agent in respect of any actions taken
or omitted to be taken by it while it was acting as the Agent hereunder and
under the other Loan Documents. In the event that there is a successor to the
Agent by merger, or the Agent assigns its duties and obligations to an Affiliate
pursuant to this SECTION 10.12, then the term "Prime Rate" as used in this
Agreement shall mean the prime rate, base rate or other analogous rate of the
new Agent.

     10.13.  AGENT AND ARRANGER FEES. The Borrower agrees to pay to the Agent
and the Arranger, for their respective accounts, the fees agreed to by the
Borrower, the Agent and the Arranger pursuant to that certain letter agreement
dated November 28, 2001, or as otherwise agreed from time to time.

     10.14.  DELEGATION TO AFFILIATES. The Borrower and the Lenders agree that
the Agent may delegate any of its duties under this Agreement to any of its
Affiliates. Any such Affiliate (and such Affiliate's directors, officers, agents
and employees) which performs duties in connection with this Agreement shall be
entitled to the same benefits of the indemnification, waiver and other
protective provisions to which the Agent is entitled under ARTICLES IX and X.

     10.15.  SYNDICATION AGENTS; SENIOR MANAGING AGENTS; MANAGING AGENTS. None
of the Lenders identified in this Agreement as the "Syndication Agents", "Senior
Managing Agents" or "Managing Agents" shall have any right, power, obligation,
liability, responsibility or duty under this Agreement in such identified
capacity other than those applicable to all Lenders as such. Without limiting
the foregoing, none of such Lenders shall have or be deemed to have a fiduciary
relationship with any Lender. Each Lender hereby makes the same acknowledgments
with respect to such Lenders as it makes with respect to the Agent in SECTION
10.11.

                                   ARTICLE XI
                            SETOFF; RATABLE PAYMENTS

     11.1.   SETOFF. In addition to, and without limitation of, any rights of
the Lenders under applicable law, if the Borrower becomes insolvent, however
evidenced, or any Default occurs, any and all deposits (including all account
balances, whether provisional or final and whether or not collected or
available) and any other Indebtedness at any time held or owing by any Lender or
any Affiliate of any Lender to or for the credit or account of the Borrower may
be offset and applied toward the payment of the Obligations owing to such
Lender, whether or not the Obligations, or any part thereof, shall then be due.

     11.2.   RATABLE PAYMENTS. If any Lender, whether by setoff or otherwise,
has payment made to it upon its Loans (other than payments received pursuant to
SECTION 3.1, 3.2, 3.4 or 3.5) in a greater proportion than that received by any
other Lender, such Lender agrees, promptly

                                      -42-
<Page>

upon demand, to purchase a portion of the Loans held by the other Lenders so
that after such purchase each Lender will hold its ratable proportion of Loans.
If any Lender, whether in connection with setoff or amounts which might be
subject to setoff or otherwise, receives collateral or other protection for its
Obligations or such amounts which may be subject to setoff, such Lender agrees,
promptly upon demand, to take such action necessary such that all Lenders share
in the benefits of such collateral ratably in proportion to their Loans. In case
any such payment is disturbed by legal process, or otherwise, appropriate
further adjustments shall be made. If an amount to be setoff is to be applied to
Indebtedness of the Borrower to a Lender, other than Indebtedness comprised of
Loans made by such Lender, such amount shall be applied ratably to such other
Indebtedness and to the Indebtedness comprised of such Loans.

                                   ARTICLE XII
                BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS

     12.1.   SUCCESSORS AND ASSIGNS. The terms and provisions of the Loan
Documents shall be binding upon and inure to the benefit of the Borrower and the
Lenders and their respective successors and assigns, except that (i) the
Borrower shall not have the right to assign its rights or obligations under the
Loan Documents and (ii) any assignment by any Lender must be made in compliance
with SECTION 12.3. The parties to this Agreement acknowledge that clause (ii) of
this SECTION 12.1 relates only to absolute assignments and does not prohibit
assignments creating security interests, including, without limitation, (x) any
pledge or assignment by any Lender of all or any portion of its rights under
this Agreement and any Note to a Federal Reserve Bank or (y) in the case of a
Lender which is a Fund, any pledge or assignment of all or any portion of its
rights under this Agreement and any Note to its trustee in support of its
obligations to its trustee; PROVIDED, HOWEVER, that no such pledge or assignment
creating a security interest shall release the transferor Lender from its
obligations hereunder unless and until the parties thereto have complied with
the provisions of SECTION 12.3. The Agent may treat the Person which made any
Loan or which holds any Note as the owner thereof for all purposes hereof unless
and until such Person complies with SECTION 12.3; PROVIDED, HOWEVER, that the
Agent may in its discretion (but shall not be required to) follow instructions
from the Person which made any Loan or which holds any Note to direct payments
relating to such Loan or Note to another Person. Any assignee of the rights to
any Loan or any Note agrees by acceptance of such assignment to be bound by all
the terms and provisions of the Loan Documents. Any request, authority or
consent of any Person, who at the time of making such request or giving such
authority or consent is the owner of the rights to any Loan (whether or not a
Note has been issued in evidence thereof), shall be conclusive and binding on
any subsequent holder or assignee of the rights to such Loan.

     12.2.   PARTICIPATIONS.

             12.2.1. PERMITTED PARTICIPANTS; EFFECT. Any Lender may, in the
     ordinary course of its business and in accordance with applicable law, at
     any time sell to one or more banks or other entities ("PARTICIPANTS")
     participating interests in any Loan owing to such Lender, any Note held by
     such Lender, any Commitment of such Lender or any other interest of such
     Lender under the Loan Documents. In the event of any such sale by a Lender
     of participating interests to a Participant, such Lender's obligations
     under the Loan Documents shall remain unchanged, such Lender shall remain
     solely responsible to

                                      -43-
<Page>

     the other parties hereto for the performance of such obligations, such
     Lender shall remain the owner of its Loans and the holder of any Note
     issued to it in evidence thereof for all purposes under the Loan Documents,
     all amounts payable by the Borrower under this Agreement shall be
     determined as if such Lender had not sold such participating interests, and
     the Borrower and the Agent shall continue to deal solely and directly with
     such Lender in connection with such Lender's rights and obligations under
     the Loan Documents.

             12.2.2. VOTING RIGHTS. Each Lender shall retain the sole right to
     approve, without the consent of any Participant, any amendment,
     modification or waiver of any provision of the Loan Documents other than
     any amendment, modification or waiver with respect to any Loan or
     Commitment in which such Participant has an interest which would require
     consent of all of the Lenders pursuant to the terms of SECTION 8.2 or of
     any other Loan Document.

             12.2.3. BENEFIT OF SETOFF. The Borrower agrees that each
     Participant which has been identified as such to the Borrower in writing
     shall be deemed to have the right of setoff provided in SECTION 11.1 in
     respect of its participating interest in amounts owing under the Loan
     Documents to the same extent as if the amount of its participating interest
     were owing directly to it as a Lender under the Loan Documents; PROVIDED,
     that each Lender shall retain the right of setoff provided in SECTION 11.1
     with respect to the amount of participating interests sold to each
     Participant. The Lenders agree to share with each Participant, and each
     Participant, by exercising the right of setoff provided in SECTION 11.1,
     agrees to share with each Lender, any amount received pursuant to the
     exercise of its right of setoff, such amounts to be shared in accordance
     with SECTION 11.2 as if each Participant were a Lender.

     12.3.   ASSIGNMENTS.

             12.3.1. PERMITTED ASSIGNMENTS. Any Lender may, in the ordinary
     course of its business and in accordance with applicable law, at any time
     assign to one or more banks or other entities ("PURCHASERS") all or any
     part of its rights and obligations under the Loan Documents. Such
     assignment shall be substantially in the form of EXHIBIT C or in such other
     form as may be agreed to by the parties thereto. The consent of the
     Borrower and the Agent shall be required prior to an assignment becoming
     effective with respect to a Purchaser which is not a Lender, an Affiliate
     thereof or an Approved Fund; PROVIDED, HOWEVER, that if a Default has
     occurred and is continuing, the consent of the Borrower shall not be
     required. Such consent shall not be unreasonably withheld or delayed. Each
     such assignment with respect to a Purchaser which is not a Lender or an
     Affiliate thereof shall (unless each of the Borrower and the Agent
     otherwise consents) be in an amount not less than the lesser of (i)
     $5,000,000 or (ii) the remaining amount of the assigning Lender's
     Commitment (calculated as at the date of such assignment) or outstanding
     Loans (if the applicable Commitment has been terminated).

             12.3.2. EFFECT; EFFECTIVE DATE. Upon (i) delivery to the Agent of
     an assignment, together with any consents required by SECTION 12.3.1, and
     (ii) payment of a $4,000 fee to

                                      -44-
<Page>

     the Agent for processing such assignment, such assignment shall become
     effective on the effective date specified in such assignment. The
     assignment shall contain a representation by the Purchaser to the effect
     that none of the consideration used to make the purchase of the Commitment
     and Loans under the applicable assignment agreement constitutes "plan
     assets" as defined under ERISA and that the rights and interests of the
     Purchaser in and under the Loan Documents will not be "plan assets" under
     ERISA. On and after the effective date of such assignment, such Purchaser
     shall for all purposes be a Lender party to this Agreement and any other
     Loan Document executed by or on behalf of the Lenders and shall have all
     the rights and obligations of a Lender under the Loan Documents, to the
     same extent as if it were an original party hereto, and no further consent
     or action by the Borrower, the Lenders or the Agent shall be required to
     release the transferor Lender with respect to the percentage of the
     Aggregate Commitment and Loans assigned to such Purchaser. Upon the
     consummation of any assignment to a Purchaser pursuant to this SECTION
     12.3.2, the transferor Lender, the Agent and the Borrower shall, if the
     transferor Lender or the Purchaser desires that its Loans be evidenced by
     Notes, make appropriate arrangements so that new Notes or, as appropriate,
     replacement Notes are issued to such transferor Lender and new Notes or, as
     appropriate, replacement Notes, are issued to such Purchaser, in each case
     in principal amounts reflecting their respective Commitments, as adjusted
     pursuant to such assignment.

     12.4.   DISSEMINATION OF INFORMATION. The Borrower authorizes each Lender
to disclose to any Participant or Purchaser or any other Person acquiring an
interest in the Loan Documents by operation of law (each a "TRANSFEREE") and any
prospective Transferee any and all information in such Lender's possession
concerning the creditworthiness of the Borrower and its Subsidiaries; PROVIDED
that each Transferee and prospective Transferee agrees to be bound by Section
9.11 of this Agreement.

     12.5.   TAX TREATMENT. If any interest in any Loan Document is transferred
to any Transferee which is organized under the laws of any jurisdiction other
than the United States or any State thereof, the transferor Lender shall cause
such Transferee, concurrently with the effectiveness of such transfer, to comply
with the provisions of SECTION 3.5(d).

                                  ARTICLE XIII
                                     NOTICES

     13.1.   GIVING NOTICE. Except as otherwise permitted by SECTION 2.14 with
respect to borrowing notices, all notices, requests and other communications to
any party hereunder shall be in writing (including electronic transmission,
facsimile transmission or similar writing) and shall be given to such party: (x)
in the case of the Borrower or the Agent, at its address or facsimile number set
forth on the signature pages hereof, (y) in the case of any Lender, at its
address or facsimile number set forth below its signature hereto or (z) in the
case of any party, at such other address or facsimile number as such party may
hereafter specify for the purpose by notice to the Agent and the Borrower in
accordance with the provisions of this SECTION 13.1. Each such notice, request
or other communication shall be effective (i) if given by facsimile
transmission, when transmitted to the facsimile number specified in this Section
and confirmation of receipt is received, (ii) if given by mail, 72 hours after
such communication is

                                      -45-
<Page>

deposited in the mails with first class postage prepaid, addressed as aforesaid,
or (iii) if given by any other means, when delivered (or, in the case of
electronic transmission, received) at the address specified in this Section;
PROVIDED that notices to the Agent under ARTICLE II shall not be effective until
received.

     13.2.   CHANGE OF ADDRESS. The Borrower, the Agent and any Lender may each
change the address for service of notice upon it by a notice in writing to the
other parties hereto.

                                   ARTICLE XIV
                                  COUNTERPARTS

     This Agreement may be executed in any number of counterparts, all of which
taken together shall constitute one agreement, and any of the parties hereto may
execute this Agreement by signing any such counterpart. This Agreement shall be
effective when it has been executed by the Borrower, the Agent and the Lenders
and each party has notified the Agent by facsimile transmission or telephone
that it has taken such action.

                                   ARTICLE XV
          CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL

     15.1.   CHOICE OF LAW. THE LOAN DOCUMENTS (OTHER THAN THOSE CONTAINING A
CONTRARY EXPRESS CHOICE OF LAW PROVISION) SHALL BE CONSTRUED IN ACCORDANCE WITH
THE INTERNAL LAWS (INCLUDING, WITHOUT LIMITATION, 735 ILCS SECTION 105/5-1 ET
SEQ, BUT OTHERWISE WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS) OF THE
STATE OF ILLINOIS, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL
BANKS.

     15.2.   CONSENT TO JURISDICTION. THE BORROWER HEREBY IRREVOCABLY SUBMITS TO
THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR ILLINOIS STATE
COURT SITTING IN CHICAGO, ILLINOIS IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO ANY LOAN DOCUMENTS AND THE BORROWER HEREBY IRREVOCABLY AGREES THAT
ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED
IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER
HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A
COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT
THE RIGHT OF THE AGENT OR ANY LENDER TO BRING PROCEEDINGS AGAINST THE BORROWER
IN THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY THE BORROWER
AGAINST THE AGENT OR ANY LENDER OR ANY AFFILIATE OF THE AGENT OR ANY LENDER
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED
TO, OR CONNECTED WITH ANY LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A COURT IN
CHICAGO, ILLINOIS.

                                      -46-
<Page>

     15.3.   WAIVER OF JURY TRIAL. THE BORROWER, THE AGENT AND EACH LENDER
HEREBY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR
INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY
WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN DOCUMENT OR THE
RELATIONSHIP ESTABLISHED THEREUNDER.

                           [signature pages to follow]

                                      -47-
<Page>

     IN WITNESS WHEREOF, the Borrower, the Lenders and the Agent have executed
this Agreement as of the date first above written.

                                    AON CORPORATION

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   Aon Center
                                                      200 East Randolph Drive
                                                      Chicago, Illinois  60601
                                                      Attn:  Diane Aigotti

                                           Telecopy:  (312) 381-6060
                                           Telephone: (312) 381-3230

                                    BANK ONE, NA,
                                    individually and as Agent

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   1 Bank One Plaza
                                                      Suite IL1-0085, 16th Floor
                                                      Chicago, Illinois 60670
                                                      Attn: Cindy Priest

                                           Telecopy:  (312) 732-4033
                                           Telephone: (312) 732-9565

<Page>

                                    ABN AMRO BANK N.V.,
                                    individually and as Syndication Agent

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   135 S. LaSalle Street,
                                                      Suite 625
                                                      Chicago, IL 60674
                                                      Attn:  Andrew Haak

                                           Telecopy:  (312) 606-8425
                                           Telephone: (312) 904-2851

<Page>

                                    CITIBANK, N.A.,
                                    individually and as Syndication Agent

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   388 Greenwich Street
                                                      22nd Floor
                                                      New York, New York 10013
                                                      Attn:  Peter C. Bickford

                                           Telecopy:  (212) 816-4144
                                           Telephone: (212) 816-4022

<Page>

                                    FIRST UNION NATIONAL BANK,
                                    individually and as Syndication Agent

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   301 South College Street
                                                      DC-5,
                                                      NC0169
                                                      Charlotte, NC 28288-0169
                                                      Attn:  Lance P. Black

                                           Telecopy:  (704) 383-7611
                                           Telephone: (704) 374-6628

<Page>

                                    JP MORGAN CHASE BANK,
                                    individually and as Senior Managing Agent

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   270 Park Avenue
                                                      15th Floor
                                                      New York, NY 10017
                                                      Attn: Helen Newcomb

                                           Telecopy:  (212) 270-0412
                                           Telephone: (212) 270-6260

<Page>

                                    THE BANK OF NEW YORK,
                                    individually and as Senior Managing Agent

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   One Wall Street
                                                      17th Floor
                                                      New York, New York 10286
                                                      Attn: Evan Glass

                                           Telecopy:  (212) 809-9520
                                           Telephone: (212) 635-6466

<Page>

                                    THE NORTHERN TRUST COMPANY,
                                    individually and as Managing Agent

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   50 S. LaSalle Street
                                                      Chicago, Illinois 60675
                                                      Attn:  Richard W. Berger

                                           Telecopy:  (312) 557-2673
                                           Telephone: (312) 444-5918

<Page>

                                    BANK OF MONTREAL,
                                    individually and as Managing Agent

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   111 West Monroe Street
                                                      Suite 12 West
                                                      Chicago, Illinois 60603
                                                      Attn:  Randy J. Goodleaf

                                           Telecopy:  (312) 845-2196
                                           Telephone: (312) 845-2035

<Page>

                                    FLEET NATIONAL BANK,
                                    individually and as Managing Agent

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   100 Federal Street
                                                      Mail Code: MA DE 10010H
                                                      Boston, MA 02110
                                                      Attn:  Eugene G. Ardito

                                           Telecopy:  (617) 434-1096
                                           Telephone: (617) 434-3311

<Page>

                                    ROYAL BANK OF CANADA,
                                    individually and as Managing Agent

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   New York Branch
                                                      One Liberty Plaza
                                                      3rd Floor
                                                      New York, NY  10006-1404
                                                      Attn:   Manager, Loans
                                                      Administration

                                           Telecopy:  (416) 955-6720
                                           Telephone: (416) 955-6679

                                           with a copy to:

                                           Address:   New York Branch
                                                      One Liberty Plaza
                                                      3rd Floor
                                                      New York, NY  10006-1404
                                                      Attn:   Alexander Birr

                                           Telecopy:  (212) 428-6201
                                           Telephone: (212) 428-6404

<Page>

                                    THE BANK OF NOVA SCOTIA

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   181 W. Madison
                                                      Suite 3700
                                                      Chicago, IL 60602
                                                      Attn:  Lisa Garling

                                           Telecopy:  (312) 201-4108
                                           Telephone: (312) 201-4135

<Page>

                                    WELLS FARGO BANK, N.A.

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   230 W. Monroe Street
                                                      Suite 2900
                                                      Chicago, IL 60606
                                                      Attn:  Robert C. Meyer

                                           Telecopy:  (312) 845-8606
                                           Telephone: (312) 345-8623

<Page>

                                    FIRSTAR BANK, N.A.

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   777 East Wisconsin Avenue
                                                      Milwaukee, Wisconsin 53202
                                                      Attn:  James Spredemann

                                           Telecopy:  (414) 765-5367
                                           Telephone: (414) 765-6626

<Page>

                                    THE FUJI BANK, LIMITED

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   227 West Monroe Street
                                                      Suite 2600
                                                      Chicago, IL 60606
                                                      Attn:  Peter L. Chinnici

                                           Telecopy:  (312) 621-0539
                                           Telephone: (312) 621-0500

<Page>

                                    STATE STREET BANK AND TRUST
                                    COMPANY

                                    By:
                                       ---------------------------------------
                                    Print Name:
                                               -------------------------------
                                    Title:
                                          ------------------------------------

                                           Address:   2 Avenue de Lafayette
                                                      Mail Code: LCC2
                                                      Boston, MA 02111
                                                      Attn:  Lise Anne Boutiette

                                           Telecopy:  (617) 662-3778
                                           Telephone: (617) 662-3262

<Page>

                                PRICING SCHEDULE

<Table>
<Caption>
-------------------------------------------------------------------------------------------------------------------------------
                            LEVEL I          LEVEL II         LEVEL III        LEVEL IV         LEVEL V           LEVEL VI
                            STATUS            STATUS           STATUS           STATUS          STATUS             STATUS
-------------------------------------------------------------------------------------------------------------------------------
<S>                         <C>               <C>              <C>              <C>            <C>          <C>
BORROWER DEBT               AA-/Aa3           A+/A1            A/A2             A-/A3          BBB+/Baa1    LESS THAN BBB+/Baa1
   RATING
-------------------------------------------------------------------------------------------------------------------------------
    Applicable               .07%             .08%             .09%              .11%            .125%              .15%
Facility Fee Rate
-------------------------------------------------------------------------------------------------------------------------------
   Applicable
     Margin
-------------------------------------------------------------------------------------------------------------------------------
Eurodollar Rate              .13%             .17%             .21%             .265%            .375%             .475%
-------------------------------------------------------------------------------------------------------------------------------
Alternate Base               0.0              0.0              0.0               0.0              0.0               0.0
Rate
-------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------
Applicable                   .10%             .10%             .10%             .125%            .125%             .125%
Utilization Fee
Rate* (GREATER THAN 33%)
===============================================================================================================================
</Table>

             Subject to the following two sentences, a particular Level Status
     shall exist on a particular day if on such day the Borrower does not
     qualify for a Level Status with more advantageous pricing and either the
     Moody's Rating or the S&P Rating is at least equal to the corresponding
     rating specified for such Level Status in the table above. In the event of
     a difference in the equivalent "rating level" from S&P and Moody's
     resulting in a split of only one level, then the Level Status shall be
     determined by reference to the higher of the two Ratings. In the event of a
     difference in the equivalent "rating level" from S&P and Moody's resulting
     in a

----------
     *    The Applicable Utilization Fee Rate shall be payable with respect to
          outstanding Advances on days when Utilization is greater than 33%.
          "Utilization" means, for any day, a percentage equal to the aggregate
          principal amount of Loans hereunder and "Loans" (as defined in the
          364-Day Agreement) outstanding on such day (and at the close of
          business on such day if a Business Day) divided by the sum on such day
          of the Aggregate Commitment and the "Aggregate Commitment" under the
          364-Day Agreement; PROVIDED that for purposes of computing the
          Utilization Fee (a) the Aggregate Commitment shall be deemed to in no
          event be less than the aggregate outstanding principal amount of the
          Loans, (b) the "Aggregate Commitment" (as defined in the 364-Day
          Agreement) shall be deemed to in no event be less than the aggregate
          outstanding principal amount of the "Loans" (as defined in the 364-Day
          Agreement) and (c) on and after the "Revolving Credit Termination
          Date" (as defined in the 364-Day Agreement), the "Aggregate
          Commitment" (as defined in the 364-Day Agreement) shall be deemed to
          be equal to the aggregate outstanding principal amount of the "Loans"
          (as defined in the 364-Day Agreement).

<Page>

     split of greater than one level, then the Level Status shall be that Level
     Status one below the Level Status determined by reference to the higher of
     the two Ratings. The above ratings are in the format of S&P Rating/Moody's
     Rating.

             For the purposes of this Schedule, the following terms have the
     following meanings, subject to the final paragraph of this Schedule:

             "Level Status" means either Level I Status, Level II Status, Level
     III Status, Level IV Status, Level V Status or Level VI Status.

             "Moody's Rating" means, at any time, the Borrower Debt Rating
     issued by Moody's and then in effect.

             "Rating" means Moody's Rating or S&P Rating.

             "S&P Rating" means, at any time, the Borrower Debt Rating issued by
     S&P and then in effect.

             The Applicable Margin and Applicable Facility Fee Rate shall be
     determined in accordance with the foregoing table based on the Borrower's
     Level Status as determined from its then-current Moody's and S&P Ratings.
     The Rating in effect on any date for the purposes of this Schedule is that
     in effect at the close of business on such date. If at any time the
     Borrower has no Moody's Rating or no S&P Rating or the Borrower does not
     qualify for a Level Status with more advantageous pricing, Level VI Status
     shall exist.

                                       -2-
<Page>

                                   SCHEDULE 1
                                   COMMITMENTS

<Table>
<Caption>
                      LENDER                                    COMMITMENT
                      ------                                    ----------
         <S>                                                 <C>
         Bank One, NA                                        $   50,000,000
         ABN AMRO Bank N.V.                                      45,000,000
         Citibank, N.A.                                          45,000,000
         First Union National Bank                               45,000,000
         JP Morgan Chase Bank                                    40,000,000
         The Bank of New York                                    37,500,000
         The Northern Trust Company                              30,000,000
         Bank of Montreal                                        25,000,000
         Fleet National Bank                                     25,000,000
         Royal Bank of Canada                                    25,000,000
         The Bank of Nova Scotia                                 17,500,000
         Wells Fargo Bank, N.A.                                  15,000,000
         Firstar Bank, N.A.                                      12,500,000
         The Fuji Bank, Limited                                  12,500,000
         State Street Bank and Trust Company                     12,500,000

         TOTAL                                               $  437,500,000
                                                             ==============
</Table>

<Page>

                                    EXHIBIT A

                                      NOTE

[$______________]                                                         [Date]

     Aon Corporation, a Delaware corporation (the "Borrower"), promises to pay
to the order of ____________________________________ (the "Lender") the lesser
of the principal sum of ______________________ Dollars or the aggregate unpaid
principal amount of all Loans made by the Lender to the Borrower pursuant to
Article II of the Agreement (as hereinafter defined), in immediately available
funds at the main office of Bank One, NA in Chicago, Illinois, as Agent,
together with interest on the unpaid principal amount hereof at the rates and on
the dates set forth in the Agreement. The Borrower shall pay the principal of
and accrued and unpaid interest on the Loans in full on the Facility Termination
Date and shall make such mandatory payments as are required to be made under the
terms of Article II of the Agreement.

     The Lender shall, and is hereby authorized to, record on the schedule
attached hereto, or to otherwise record in accordance with its usual practice,
the date and amount of each Loan and the date and amount of each principal
payment hereunder.

     This Note is one of the Notes issued pursuant to, and is entitled to the
benefits of, the Three Year Credit Agreement dated as of February 8, 2002
(which, as it may be amended or modified and in effect from time to time, is
herein called the "Agreement"), among the Borrower, the lenders party thereto,
including the Lender, and Bank One, NA, as Agent, to which Agreement reference
is hereby made for a statement of the terms and conditions governing this Note,
including the terms and conditions under which this Note may be prepaid or its
maturity date accelerated. Capitalized terms used herein and not otherwise
defined herein are used with the meanings attributed to them in the Agreement.

                                        AON CORPORATION

                                        By:
                                           -------------------------------------
                                        Print Name:
                                                   -----------------------------
                                        Title:
                                              ----------------------------------

                                       A-1
<Page>

                   SCHEDULE OF LOANS AND PAYMENTS OF PRINCIPAL
                                       TO
                            NOTE OF AON CORPORATION,
                               DATED ___________,

<Table>
<Caption>
                             Principal                 Maturity                    Principal
                             Amount of                of Interest                   Amount               Unpaid
         Date                  Loan                     Period                       Paid                Balance
----------------------------------------------------------------------------------------------------------------
<S>                          <C>                      <C>                          <C>                   <C>
</Table>

<Page>

                                    EXHIBIT B

                             COMPLIANCE CERTIFICATE

To:  The Lenders parties to the
     Credit Agreement Described Below

             This Compliance Certificate is furnished pursuant to that certain
Three Year Credit Agreement dated as of February 8, 2002 (as amended, modified,
renewed or extended from time to time, the "Agreement") among the Borrower, the
lenders party thereto and Bank One, NA, as Agent for the Lenders. Unless
otherwise defined herein, capitalized terms used in this Compliance Certificate
have the meanings ascribed thereto in the Agreement.

             THE UNDERSIGNED HEREBY CERTIFIES THAT:

             1.      I am the duly elected ____________________of the Borrower;

             2.      I have reviewed the terms of the Agreement and I have made,
or have caused to be made under my supervision, a detailed review of the
transactions and conditions of the Borrower and its Subsidiaries during the
accounting period covered by the attached financial statements;

             3.      The examinations described in paragraph 2 did not disclose,
and I have no knowledge of, the existence of any condition or event which
constitutes a Default or Unmatured Default during or at the end of the
accounting period covered by the attached financial statements or as of the date
of this Certificate, except as set forth below; and

             4.      Schedule I attached hereto sets forth financial data and
computations evidencing the Borrower's compliance with certain covenants of the
Agreement, all of which data and computations are true, complete and correct.

             Described below are the exceptions, if any, to paragraph 3 by
listing, in detail, the nature of the condition or event, the period during
which it has existed and the action which the Borrower has taken, is taking, or
proposes to take with respect to each such condition or event:

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

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

The foregoing certifications, together with the computations set forth in
Schedule I hereto and the financial statements delivered with this Certificate
in support hereof, are made and delivered this ___ day of _______, 200_.

                                       B-1
<Page>

                      SCHEDULE I TO COMPLIANCE CERTIFICATE
             Schedule of Compliance as of ______________, 200_ with
                          Provisions of Section 6.17 of
                                  the Agreement

1.   SECTION 6.17.1 - CONSOLIDATED NET WORTH

     A.      Consolidated Net Worth                                 $___________

     B.      Must be greater than $2,500,000,000 (or, at all times from and
             after the CSC Spin-Off, $2,000,000,000)

             Complies ________   Does Not Comply ___

2.   SECTION 6.17.2 - CONSOLIDATED EBITDA TO CONSOLIDATED INTEREST EXPENSE

     A.      Consolidated EBITDA
             (for four fiscal quarters ended ___________, 200__)

             (i)     Consolidated Net Income                        $________

             (ii)    Consolidated Interest Expense                  $________

             (iii)   taxes                                          $________

             (iv)    depreciation                                   $________

             (v)     amortization                                   $________

             (vi)    extraordinary losses                           $________

             (vii)   extraordinary gains                            $________

             (viii)  Sum of (i) through (vi) minus (vii)            $________

     B.      Consolidated Interest Expense
             (for four fiscal quarters ended  ___________, 200__)   $________

     C.      Ratio of A to B                            ___ to 1.0

     D.      Permitted Ratio                            Greater than 4.0 to 1.0

             Complies ____   Does Not Comply ___

<Page>

                                    EXHIBIT C

                              ASSIGNMENT AGREEMENT

     This Assignment Agreement (this "Assignment Agreement") between
_________________________ (the "Assignor") and _____________________________
(the "Assignee") is dated as of ________________, 20__. The parties hereto agree
as follows:

     1. PRELIMINARY STATEMENT. The Assignor is a party to a Credit Agreement
(which, as it may be amended, modified, renewed or extended from time to time is
herein called the "Credit Agreement") described in Item 1 of Schedule 1 attached
hereto ("Schedule 1"). Capitalized terms used herein and not otherwise defined
herein shall have the meanings attributed to them in the Credit Agreement.

     2. ASSIGNMENT AND ASSUMPTION. The Assignor hereby sells and assigns to the
Assignee, and the Assignee hereby purchases and assumes from the Assignor, an
interest in and to the Assignor's rights and obligations under the Credit
Agreement and the other Loan Documents, such that after giving effect to such
assignment the Assignee shall have purchased pursuant to this Assignment
Agreement the percentage interest specified in Item 3 of Schedule 1 of all
outstanding rights and obligations under the Credit Agreement and the other Loan
Documents relating to the facilities listed in Item 3 of Schedule 1. The
aggregate Commitment (or Loans, if the applicable Commitment has been
terminated) purchased by the Assignee hereunder is set forth in Item 4 of
Schedule 1.

     3. EFFECTIVE DATE. The effective date of this Assignment Agreement (the
"Effective Date") shall be the later of the date specified in Item 5 of Schedule
1 or two Business Days (or such shorter period agreed to by the Agent) after
this Assignment Agreement, together with any consents required under the Credit
Agreement, are delivered to the Agent. In no event will the Effective Date occur
if the payments required to be made by the Assignee to the Assignor on the
Effective Date are not made on the proposed Effective Date.

     4. PAYMENT OBLIGATIONS. In consideration for the sale and assignment of
Loans hereunder, the Assignee shall pay the Assignor, on the Effective Date, the
amount agreed to by the Assignor and the Assignee. On and after the Effective
Date, the Assignee shall be entitled to receive from the Agent all payments of
principal, interest and fees with respect to the interest assigned hereby. The
Assignee will promptly remit to the Assignor any interest on Loans and fees
received from the Agent which relate to the portion of the Commitment or Loans
assigned to the Assignee hereunder for periods prior to the Effective Date and
not previously paid by the Assignee to the Assignor. In the event that either
party hereto receives any payment to which the other party hereto is entitled
under this Assignment Agreement, then the party receiving such amount shall
promptly remit it to the other party hereto.

                                       C-1
<Page>

     5. RECORDATION FEE. The Assignor and Assignee each agree to pay one-half of
the recordation fee required to be paid to the Agent in connection with this
Assignment Agreement unless otherwise specified in Item 6 of Schedule 1.

     6. REPRESENTATIONS OF THE ASSIGNOR; LIMITATIONS ON THE ASSIGNOR'S
LIABILITY. The Assignor represents and warrants that (i) it is the legal and
beneficial owner of the interest being assigned by it hereunder, (ii) such
interest is free and clear of any adverse claim created by the Assignor and
(iii) the execution and delivery of this Assignment Agreement by the Assignor is
duly authorized. It is understood and agreed that the assignment and assumption
hereunder are made without recourse to the Assignor and that the Assignor makes
no other representation or warranty of any kind to the Assignee. Neither the
Assignor nor any of its officers, directors, employees, agents or attorneys
shall be responsible for (i) the due execution, legality, validity,
enforceability, genuineness, sufficiency or collectability of any Loan Document,
including without limitation, documents granting the Assignor and the other
Lenders a security interest in assets of the Borrower or any guarantor, (ii) any
representation, warranty or statement made in or in connection with any of the
Loan Documents, (iii) the financial condition or creditworthiness of the
Borrower or any guarantor, (iv) the performance of or compliance with any of the
terms or provisions of any of the Loan Documents, (v) inspecting any of the
property, books or records of the Borrower, (vi) the validity, enforceability,
perfection, priority, condition, value or sufficiency of any collateral securing
or purporting to secure the Loans or (vii) any mistake, error of judgment, or
action taken or omitted to be taken in connection with the Loans or the Loan
Documents.

     7. REPRESENTATIONS AND UNDERTAKINGS OF THE ASSIGNEE. The Assignee (i)
confirms that it has received a copy of the Credit Agreement, together with
copies of the financial statements requested by the Assignee and such other
documents and information as it has deemed appropriate to make its own credit
analysis and decision to enter into this Assignment Agreement, (ii) agrees that
it will, independently and without reliance upon the Agent, the Assignor or any
other Lender and based on such documents and information at it shall deem
appropriate at the time, continue to make its own credit decisions in taking or
not taking action under the Loan Documents, (iii) appoints and authorizes the
Agent to take such action as agent on its behalf and to exercise such powers
under the Loan Documents as are delegated to the Agent by the terms thereof,
together with such powers as are reasonably incidental thereto, (iv) confirms
that the execution and delivery of this Assignment Agreement by the Assignee is
duly authorized, (v) agrees that it will perform in accordance with their terms
all of the obligations which by the terms of the Loan Documents are required to
be performed by it as a Lender, (vi) agrees that its payment instructions and
notice instructions are as set forth in the attachment to Schedule 1, (vii)
confirms that none of the funds, monies, assets or other consideration being
used to make the purchase and assumption hereunder are "plan assets" as defined
under ERISA and that its rights, benefits and interests in and under the Loan
Documents will not be "plan assets" under ERISA, (viii) agrees to indemnify and
hold the Assignor harmless against all losses, costs and expenses (including,
without limitation, reasonable attorneys' fees) and liabilities incurred by the
Assignor in connection with or arising in any manner from the Assignee's
non-performance of the obligations assumed under this Assignment Agreement, and

                                       -2-
<Page>

(ix) if applicable, attaches the forms prescribed by the Internal Revenue
Service of the United States certifying that the Assignee is entitled to receive
payments under the Loan Documents without deduction or withholding of any United
States federal income taxes.

     8. GOVERNING LAW. This Assignment Agreement shall be governed by the
internal law, and not the law of conflicts, of the State of Illinois.

     9. NOTICES. Notices shall be given under this Assignment Agreement in the
manner set forth in the Credit Agreement. For the purpose hereof, the addresses
of the parties hereto (until notice of a change is delivered) shall be the
address set forth in the attachment to Schedule 1.

     10. COUNTERPARTS; DELIVERY BY FACSIMILE. This Assignment Agreement may be
executed in counterparts. Transmission by facsimile of an executed counterpart
of this Assignment Agreement shall be deemed to constitute due and sufficient
delivery of such counterpart and such facsimile shall be deemed to be an
original counterpart of this Assignment Agreement.

     IN WITNESS WHEREOF, the duly authorized officers of the parties hereto have
executed this Assignment Agreement by executing Schedule 1 hereto as of the date
first above written.

                                       -3-
<Page>

                                   SCHEDULE 1
                             to Assignment Agreement

1.   Description and Date of Credit Agreement: Three Year Credit Agreement dated
as of February 8, 2002 among Aon Corporation, Bank One, NA, as agent, and the
lenders party thereto.

2.   Date of Assignment Agreement: _____________, 200__

3.   Amounts (As of Date of Item 2 above):

                                                      Facility
                                                         1*
                                                      --------
     a.      Assignee's percentage
             of each Facility purchased
             under the Assignment
             Agreement                                  ____ %

     b.      Amount of
             each Facility
             purchased
             under the Assignment
             Agreement                                  $_____

4.   Assignee's Commitment (or Loans
     with respect to terminated
     Commitments) purchased
     hereunder:                                               $ ___________

5.   Proposed Effective Date:                                 ________________

6.   Non-standard Recordation Fee
     Arrangement (if applicable)

Accepted and Agreed:

[NAME OF ASSIGNOR]                         [NAME OF ASSIGNEE]

By:                                        By:
   ---------------------------------           ---------------------------------
Title:                                     Title:
      ------------------------------              ------------------------------

                                       -1-
<Page>

CONSENTED TO BY                            CONSENTED TO BY
AON CORPORATION                            BANK ONE, NA

By:                                        By:
   ---------------------------------           ---------------------------------
Title:                                     Title:
      ------------------------------              ------------------------------

*    Insert specific facility names per Credit Agreement
**   Percentage taken to 10 decimal places
***  If fee is split 50-50, pick N/A as option
**** Delete if not required by Credit Agreement

                                       -2-
<Page>

                Attachment to SCHEDULE 1 to ASSIGNMENT AGREEMENT

                        ADMINISTRATIVE INFORMATION SHEET

               Attach Assignor's Administrative Information Sheet,
              which must include notice addresses for the Assignor
                                and the Assignee
                            (Sample form shown below)

                              ASSIGNOR INFORMATION
CONTACT:

Name:                                  Telephone No.:
     -----------------------------                   ---------------------------
Fax No.:                               Telex No.:
        --------------------------               -------------------------------
                                       Answerback:
                                                  ------------------------------

PAYMENT INFORMATION:

Name & ABA # of Destination Bank:
                                  ----------------------------------------------

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

Account Name & Number for Wire Transfer:
                                         ---------------------------------------

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

Other Instructions:
                    ------------------------------------------------------------

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

ADDRESS FOR NOTICES FOR ASSIGNOR:
                                  ----------------------------------------------

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

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

                              ASSIGNEE INFORMATION

CREDIT CONTACT:

Name:                                  Telephone No.:
     -----------------------------                   ---------------------------
Fax No.:                               Telex No.:
        --------------------------               -------------------------------
                                       Answerback:
                                                  ------------------------------

KEY OPERATIONS CONTACTS:

Booking Installation:                  Booking Installation:
                     -------------                          --------------------
Name:                                  Name:
     -----------------------------          ------------------------------------
Telephone No.:                         Telephone No.:
              --------------------                   ---------------------------
Fax No.:                               Fax No.:
        --------------------------             ---------------------------------
Telex No.:                             Telex No.:
          ------------------------               -------------------------------
Answerback:                            Answerback:
           -----------------------                ------------------------------

                                       -1-
<Page>

PAYMENT INFORMATION:

Name & ABA # of Destination Bank:
                                  ----------------------------------------------

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

Account Name & Number for Wire Transfer:
                                        ----------------------------------------

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

Other Instructions:
                   -------------------------------------------------------------

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

ADDRESS FOR NOTICES FOR ASSIGNEE:
                                  ----------------------------------------------

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

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

     BANK ONE INFORMATION

     Assignee will be called promptly upon receipt of the signed agreement.

INITIAL FUNDING CONTACT:               SUBSEQUENT OPERATIONS CONTACT:

Name:                                  Name:
     -----------------------                ------------------------------------
Telephone No.: (312)                   Telephone No.: (312)
              --------------                         ---------------------------
Fax No.: (312)                         Fax No.: (312)
        --------------------                    --------------------------------
                            Bank One Telex No.:  190201  (Answerback: FNBC UT)
                                                --------------------------------

INITIAL FUNDING STANDARDS:

Libor - Fund 2 days after rates are set.

BANK ONE WIRE INSTRUCTIONS:        Bank One, NA, ABA # 071000013
                                   LS2 Incoming Account # 481152860000
                                   Ref:________________

ADDRESS FOR NOTICES FOR BANK ONE:  1 Bank One Plaza, Chicago, IL  60670
                                   Attn: Agency Compliance Division,
                                         Suite IL1-0353
                                   Fax No. (312) 732-2038 or (312) 732-4339

                                       -2-

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