Document:

exv10w2

Exhibit 10.2

THIS AGREEMENT CONTAINS A WAIVER OF CERTAIN OF YOUR

LEGAL RIGHTS. YOU ARE ADVISED TO CONSULT

WITH AN ATTORNEY PRIOR TO SIGNING.

SEPARATION AGREEMENT AND RELEASE

     This Separation Agreement and Release (“Agreement”) is made and is effective as of the latest
date signed below, by and between Jeffrey D. Fisher (hereinafter referred to as the “Employee” even
for periods after which he is no longer employed in an “employee” status) and Spartech Corporation,
a Delaware corporation, which includes, for purposes of this Agreement, its subsidiaries and
related organizations and, collectively, all of its and their officers, directors, employees,
trustees, agents, representatives, predecessors, successors and assigns, and compensation plans and
programs sponsored or established by any of the foregoing (hereinafter collectively referred to as
the “Corporation”).

     WHEREAS, Employee is an employee and officer of the Corporation; and

     WHEREAS, the parties to this Agreement intend hereby to implement the Employee’s resignation
as an employee and officer of the Corporation and to resolve any and all claims, to provide for the
amounts to be paid and benefit provided to the Employee in connection with the termination of his
employment with the Corporation, and to secure a release of all claims from the Employee for the
benefit of the Corporation.

     NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and
intending to be legally bound hereby, it is understood and agreed as follows:

			
	1.	 	Resignation as Officer and Director; Cessation of Employment; Payments and Benefits

     The Employee hereby resigns as an officer and employee of the Corporation effective July 25,
2008 (the “Termination Date”). Provided that the Employee is not at the time in breach of any of
his obligations under this Agreement, the Corporation hereby covenants with the Employee to provide
the Employee with the following payments and benefits:

     (a) Severance and Non-Competition Payments. In accordance with the terms of the
Severance and Non-Competition Agreement, as amended, the Employee shall receive as a severance
payment, to be paid in equal installments over the twelve months following Employee’s termination,
and in accordance with the Company’s normal payroll practices, an aggregate amount equal to the sum
of (i) $284,000, being equal to 12 months base salary at the highest rate paid to the Employee in
the three years prior to the Termination Date, plus (b) $73,457, being the average annual bonus
awarded to the Employee for the last three fiscal years of the Company ended prior to the
Termination Date.

     (b) Executive Bonus Plan. The Employee acknowledges that he is not entitled to a
bonus under the Executive Bonus Plan for the measurement year ending in 2008.

 

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     (c) Automobile. The Corporation shall transfer to the Employee as additional
separation pay the 2004 Toyota Highlander currently being leased for the Employee and having a
buyout value of $14,000.

     (d) Computer. The Corporation shall transfer to the Employee as additional separation
pay the laptop computer currently being provided to the Employee, having an agreed value of $250;
provided that prior to such transfer the Corporation may permanently delete all files and data as
required by any licenses or which contain Confidential Information of the Corporation.

     (e) Other Compensation and Benefits.

          (i) Accrued Vacation, Sick Days and Other Compensation. On the first payroll date after the
Termination Date, the Corporation shall pay the Employee in a single lump sum the aggregate amount
of any accrued and unpaid base salary through the Termination Date, any accrued but unused
vacation, any accrued but unused sick days (payable at the same rate as vacation pay), and (subject
to normal documentation requirements) any unreimbursed business expenses incurred before the
Termination Date.

          (ii) Coverage Under Health Insurance Benefit Plans. Should Employee timely elect health
insurance continuation coverage under COBRA, the Corporation also agrees to continue to pay the
company’s portion of the COBRA payment for premiums for the first twelve months following
Employee’s termination, if Executive pays contributions in the same amount charged to active
employees. After this twelve month period Employee will be responsible for full payment of any
premiums consistent with COBRA.

          (iv) Employment Search; Outplacement Services. Prior to the Termination Date, to the extent
his employment duties permit, the Employee will be afforded reasonable time off to search for other
employment. After the Termination Date, the Corporation will pay for third-party outplacement
services for up to 12 months or until the Employee secures a substantially full-time position,
whichever comes first.

     (f) ERISA Rights. Nothing in this Agreement is intended to surrender or waive any
right the Employee may have to any vested and accrued benefits under the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”), including, but not limited and balances under
Corporation’s employee benefit plans, which accrued benefits and balances shall be payable when and
in accordance with the terms of the respective plans.

     (g) Applicable Taxes. Notwithstanding any provision of this Agreement, prior to the
delivery of any thing of value to the Employee, the Corporation shall withhold from any cash
payment under this Agreement the amount determined in good faith by the Corporation to be required
to be withheld for applicable federal, state and/or local taxes or to be paid by the Employee as
federal, state or local payroll taxes for all things of value to be delivered under this Agreement.
If any thing of value to be delivered under this Agreement is to be delivered in a form other than
cash, withholding for applicable taxes shall be withheld from cash payments before delivery of
non-cash things of value.

     (h) Deferral. The parties agree that (i) Employee is a “specified employee” (within
the meaning of Internal Revenue Code Section 409A(a)(2)(B)(i)) of the Corporation and that (ii)
notwithstanding the Employee’s resignation the separation payments under Section 1(a), (c) and (d)
are on account of the Employee’s “involuntary separation from service” (as defined in Treasury
Regulation Section 1.409A-1(n)). The Employee shall receive such payments during the six month
period immediately following the Termination Date as otherwise provided under

 

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Section 1(a) for such six month period except that the total amount of such payments shall not
exceed the lesser of the amounts specified under Treasury Regulation Section
1.409A-1(b)(9)(iii)(A)(1) or (2). To the extent the amounts otherwise payable during such six
month period under Section 1(a) exceed the amounts payable under the immediately preceding
sentence, such excess amounts shall be paid in a single sum on the first regular payroll date of
the Corporation immediately following the six month anniversary of the Termination Date.

	2.	 	Agreement to Assist and Consult

     (a) As of July 25, 2008, when no employment relationship exists, as and for consulting
services, the Corporation agrees to pay to Employee Twenty Three Thousand Five Hundred Dollars
($23,500.00) per month, commencing in July 25, 2008 and continuing through October 31, 2008 for a
total of Seventy Five Thousand Nine Hundred Dollars ($75,900.00). The Corporation will issue the
Employee an IRS Form 1099 for the sums attributable to the consulting relationship, and Employee
will be responsible for all taxes due on the payments made.

     (b) As an independent consultant, Employee will make himself available, on an as-needed basis,
for the purpose of responding in good faith to questions that the management may have concerning
the Corporation within the specific knowledge of the Employee and/or to help transition a new
General Counsel. If the Employee fails to cooperate in good faith on questions or matters referred
to him, the Corporation may, at its discretion, withhold any or all of the monthly payments to be
made pursuant to this paragraph 2.

	3.	 	Release of Liability and Covenant Not to Sue

     (a) This Agreement constitutes full and final settlement of all claims asserted or which could
have been asserted by Employee prior to the date of the Agreement. By the execution of the terms
hereof, Corporation, its officers, directors, agents, employees, attorneys, representatives,
affiliates, subsidiaries, successors and assigns are released from all claims for liability
asserted or which could have been asserted. The Release under this paragraph includes any and all
claims, demands and causes of action of any kind whatever, including attorneys’ fees and costs
actually incurred (collectively referred to as “Claims”), whether known or unknown, which Employee
now has or ever has had against Corporation up to the date of this Agreement, including but not
limited to claims under the Age Discrimination in Employment Act, 29 U.S.C. §§621 et
seq., the Equal Pay Act, 29 U.S.C. §206 et seq., the Employment Retirement
Security Act, 29 U.S.C. §§1001 et seq., Title VII, 42 U.S.C. §§2000 et
seq., the Missouri Human Rights Act, R.S.Mo. Chapter 213, et seq., 42
U.S.C. §1981, the Americans With Disabilities Act, 42 U.S.C. §§12,101 et seq., the
Missouri Service Letter Statute, R.S.Mo. §290.140; and any and all other federal, state or local
statues and/or ordinances, and any and all other Claims arising under or pursuant to statute,
contract or common law. In the event that any person or entity should bring a charge, claim or
complaint or action on Employee’s behalf relating to any Claim, he hereby waives, releases and
forfeits any right to recovery under said Claim and will exercise a good faith effort, including
(but not limited to) the execution of such additional releases or other documents, to have any such
Claim dismissed. The foregoing shall not prevent the Employee from filing charges with the Equal
Employment Opportunity Commission but the Employee agrees he shall not financially benefit from
such charges.

     (b) If Employee violates this Agreement by filing a claim against or suing the Corporation,
Employee agrees to pay all costs and expenses of defending against such claims incurred by the
Corporation or in prosecuting any counterclaim or cross claim based on this
Agreement, including reasonable attorney’s fees and all other costs and expenses associated
therewith.

 

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	4.	 	Waiver of Relief

     This Agreement encompasses all relief, no matter how called, whether now apparent or yet to be
discovered, including but not limited to: wages, front pay, back pay, compensatory damages, pension
or retirement benefits, punitive damages, liquidated damages, damages for pain, suffering, mental
anguish and loss of enjoyment of life, and costs and attorney’s fees.

	5.	 	No Admission of Liability

     Execution of this Agreement and compliance with its terms, as provided above, do not
constitute an admission by the Corporation that (i) it has treated the Employee or any other person
unfairly or unlawfully or (ii) that it engaged in any breach of contract or violation of any Civil
Rights Provision or other employment discrimination statute, or any other legal provision,
regulation, ordinance order or rule of common law.

	6.	 	Return of Property

     (a) The Employee shall, by the close of business on the Termination Date, return to the
Corporation all cell phones and other items of tangible personal property owned by the Corporation,
However the Employee may keep his current cell phone and service until the end of the consulting
period in section 2.

     (b) The Employee shall, by the close of business on the Termination Date, return to the
Corporation all records relating to the Corporation and its business in whatever medium; provided
that the Employee (i) may retain copies of documents and records which are publicly available and
(ii) may retain as forms for use in his future employment as an attorney, copies of legal forms and
documents personally prepared by him during his employment, provided that they are first redacted
to remove any Confidential Information of the Company.

	7.	 	Litigation Cooperation

     The Employee agrees to cooperate with the Corporation in the prosecution or defense of claims
asserted by or against the Corporation. Such cooperation shall include meeting with
representatives of the Corporation or the Corporation’s attorneys, or both, divulging to the
Corporation any information that the Corporation may request for possible use in litigation,
arbitration, or other legal proceeding, and testifying on behalf of the Corporation at the
Corporation’s request. If called upon by the Corporation for cooperation under this Section 7, the
Corporation shall reimburse the Employee for his reasonable out-of-pocket expenses in connection
with such cooperation. If the Employee is named a defendant in any lawsuit arising or alleged to
have arisen from his employment with the Corporation prior to the Termination Date, he shall be
provided a defense and indemnity or insurance coverage to the extent provided by the By-laws of the
Corporation and/or under any indemnification agreement and/or under any policy of insurance in
effect on the Termination Date.

	8.	 	Non-Competition Agreement; Non-Solicitation; Non-Disparagement; Confidentiality

The Employee agrees that:

     (a) Until after the first anniversary of the Termination Date, he shall refrain, as a
principal, partner, co-venturer, employee, agent, servant or independent contractor, from any

 

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business activity which is engaged in a business which competes with a business in which the
Corporation is engaged as of the Termination Date, including, but not limited to, the production of
engineered thermoplastic sheet and rollstock, thermoformed plastic packaging, polymeric compounds
and custom engineered wheels.

     (b) Until after the first anniversary of the Effective Date, he shall refrain from soliciting
for employment with any business of any type whatsoever individuals who are employees of the
Corporation on the Termination Date.

     (c) The Employee will not divulge to others or use for his or her own benefit or for the
benefit of others any confidential information, including correspondence and other records, whether
or not reduced to writing, which the Employee may have acquired from Spartech or others by reason
of the Employee’s employment with Spartech; it being expressly understood that all such
information, lists, correspondence and other writings are confidential and (except to the limited
extent provided in Section 6(b)) shall remain the sole property of Spartech and shall not be
removed or transcribed for removal by the Employee before or after the Termination Date.

     (d) The Employee and the Corporation agree that he and it will not, in any way, disparage one
another to any person(s) or organization(s), including, without limitation, any employee of the
Corporation. The Corporation will not make any public statement or provide information to any
person concerning the reasons for the termination of the Employee’s employment other than as made
in this Agreement or as mutually agreed.

     (e) Any breach or threatened breach of any one or more of the provisions of this Section 8
would cause immediate, material and irreparable harm to the Corporation and that money damages
would not provide an adequate remedy to the Corporation. The Corporation shall have all of the
rights and remedies available under law or equity, including, but not limited to, injunctive
relief, available to any party enforcing this covenant not to compete. Each of the rights and
remedies shall be independent of the other and shall be severally enforceable including, but not
limited to, the right to have the covenants specifically enforced by any court of competent
jurisdiction and the right to require Employee to account for and pay over to the Corporation all
benefits derived or received by him as a result of any such breach of covenant and Employee shall
not raise a defense to the granting of any such relief that the Corporation has an adequate remedy
at law.

     (f) Nothing in this Agreement shall diminish the professional responsibilities or obligations
due to Corporation pursuant to the Employee’s role as an attorney for Corporation, including but
not limited to any fiduciary duties or any duties to maintain the confidences of the Corporation,
or any obligations Employee may have under other agreements.

	9.	 	Entire Agreement; Counterparts; Amendments

This Agreement constitutes the entire agreement and understanding of the parties and supersedes all
prior negotiations, understandings and agreements, proposed or otherwise, written or oral.
Notwithstanding this paragraph, all written stock option or equity award agreements, as well as the
provisions of paragraphs 2, 3, and 4 of the Severance and Noncompetiton Agreement between the
parties dated March 7, 2006 and paragraphs 5, 6, and 7 of the Employment Agreement dated December
11, 2003 shall remain in full force and effect.. This Agreement may be executed in several
counterparts each of which shall be deemed to be an original, and all such counterparts when taken
together shall constitute one and the same instrument. Furthermore, no

 

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modification of this Agreement shall be binding unless in writing signed by each of the parties
hereto.

	10.	 	Severability

     Should any provision of this Agreement be declared illegal or unenforceable by any court of
competent jurisdiction and if such provision cannot be modified to be enforceable (including the
general release language in Section 3), such provision shall immediately become null and void,
leaving the remainder of this Agreement in full force and effect. However, if any portion of the
general release language in Section 3 is ruled unenforceable for any reason, the Corporation and
the Employee agree to use their best efforts to negotiate in good faith an enforceable general
release.

11. Governing Law

     This Agreement shall be governed by, and construed and enforced in accordance with, the laws
of the State of Missouri, the state in which the Corporation operates its principal place of
business, without regard to its principles or provisions of conflicts of laws. Any action brought
under this Agreement shall be brought in a court of competent jurisdiction with venue in St. Louis
County, Missouri.

	12.	 	Judicial Enforcement

     This Agreement may be specifically enforced in judicial proceedings brought in equity in a
court of competent jurisdiction.

	13.	 	Voluntary and Understanding Execution

     The Employee agrees and acknowledges that he has read this Agreement and fully understands the
terms and conditions of this Agreement, including the release of claims and waiver of rights, and
that he enters into this Agreement knowingly, voluntarily, free from duress and as a result of his
own free will.

	14.	 	Consideration and Revocation Periods

     (a) The Employee acknowledges that he has been advised by this writing and previously by the
Corporation to consult with an attorney of his choosing concerning his rights in connection with
his termination from employment and the terms and conditions of this Agreement, including the
release of all claims contained herein. It is expressly agreed that the benefits specified in this
Agreement include benefits to which Employee is presently not entitled.

     (b) The Employee acknowledges that he has been advised that, with regard to the release of
claims under the Age Discrimination in Employment Act, as amended, he has a legal right to use all
or any part of twenty-one (21) days to consider, in consultation with his attorney, whether to sign
this Agreement.

     (c) The Employee acknowledges that he has been advised that, if he signs this Agreement, he
can thereafter revoke his execution of this Agreement to the extent of the release of claims under
the Age Discrimination in Employment Act (but only to the extent of his release of claims under the
Age Discrimination in Employment Act) on or before the close of business on the seventh day after
his execution hereof by delivering a written revocation to Spartech Corporation, Attention: Chief
Executive Officer, 120 Central Avenue, Suite 1700, St. Louis, Missouri 63105. For the avoidance
of doubt, the Employee’s release of all claims other than those under the Age Discrimination in
Employment Act shall be effective on the date the Employee executes and delivers this Agreement to
the Corporation. In the event that the Employee revokes his execution with respect to his release
of claims under the Age
Discrimination in Employment Act, he will forfeit any and all rights and benefits under this
Agreement other than Sections 1(a) and (d).

 

 

IN WITNESS WHEREOF, the aforesaid parties have hereunto set their hands and seals as of the date
written below.

	 	 	 	 	 	 	 
	 	 	JEFFREY D. FISHER	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Jeffrey D. Fisher	 	 
	 	 	 	 	 
	 	 	Date:      July 15, 2008	 	 
	 
	 	 	 	 	 	 
	 	 	SPARTECH CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Myles S. Odaniell
 

Myles S. Odaniell
	 	 
	 

	 	 	 	President and Chief Executive Officer	 	 
	 

	 	Date:
	 	      July 14, 2008exv10w4

Exhibit 10.4

THIRD AMENDMENT TO

FOURTH AMENDED AND RESTATED CREDIT AGREEMENT

     THIS THIRD AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT (this “Third
Amendment”), dated as of September 10, 2008, is entered into among SPARTECH CORPORATION, a
Delaware corporation (the “Borrower”), the lenders listed on the signature pages hereof
(collectively, the “Lenders”), and BANK OF AMERICA, N.A., as Administrative Agent and L/C
Issuer.

BACKGROUND

     A. The Borrower, the Lenders, the Administrative Agent, and the L/C Issuer heretofore entered
into that certain Fourth Amended and Restated Credit Agreement, dated as of June 2, 2006, as
amended by that certain First Amendment to Fourth Amended and Restated Credit Agreement, dated as
of March 7, 2008, and that certain Waiver and Amendment Agreement to Fourth Amended and Restated
Credit Agreement, dated as of July 30, 2008 (the “Waiver and Amendment”) (said Credit
Agreement, as so waived or amended, the “Credit Agreement”; the terms defined in the Credit
Agreement and not otherwise defined herein shall be used herein as defined in the Credit
Agreement).

     B. The Borrower, the Lenders, the Administrative Agent, and the L/C Issuer desire to amend the
Credit Agreement.

     NOW, THEREFORE, in consideration of the covenants, conditions and agreements hereafter set
forth, and for other good and valuable consideration, the receipt and adequacy of which are all
hereby acknowledged, the Borrower, the Lenders, the Administrative Agent, and the L/C Issuer
covenant and agree as follows:

     1. AMENDMENTS TO THE CREDIT AGREEMENT.

     (a) Section 1.01 of the Credit Agreement is hereby amended by adding the following
defined terms thereto in proper alphabetical order to read as follows:

     “Collateral” means any collateral in which a Lien is granted by any Person to
the Collateral Agent to secure the Senior Secured Obligations pursuant to the Collateral
Documents.

     “Collateral Agent” means Bank of America in its capacity as collateral agent
for the Creditors, or any successor thereto under the Intercreditor Agreement.

     “Collateral Documents” means the Security Agreement, any Mortgage Instrument,
and any document related thereto.

     “Consolidated Total Assets” means, at any date, for the Borrower and its
Subsidiaries, the total assets as of such date which would be shown as assets on a

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consolidated balance sheet of the Borrower and its Subsidiaries prepared in accordance
with GAAP.

     “Creditor” has the meaning specified in the Intercreditor Agreement.

     “Disclosed Transaction” means the asset exchange previously disclosed to the
Lenders.

     “Excess Cash Flow” means, for any period for the Borrower and its Subsidiaries
on a consolidated basis, an amount equal to the sum of, without duplication, in each case
for such period (a) the sum of (i) EBITDA (excluding for purposes of the determination of
Excess Cash Flow only, the addition of any cash restructuring expenses), (ii) interest
income received in cash, and (iii) net decrease (if any) in working capital minus (b) the
sum of (i) Restricted Payments, (ii) aggregate amount of federal, state, local and foreign
income taxes paid in cash, (iii) unfinanced cash portion of Capital Expenditures,
(iv) amounts expended for Permitted Acquisitions, (v) scheduled principal repayments of
Indebtedness (other than Indebtedness of the Borrower or any Subsidiary owing to the
Borrower or another Subsidiary) and, without duplication, payments of such Indebtedness
which result in a permanent reduction of any commitment related thereto, (vi) interest and
fees in respect of any Indebtedness (other than Indebtedness of the Borrower or any
Subsidiary owing to the Borrower or another Subsidiary) actually paid in cash, and (vii) net
increases (if any) in working capital.

     “Extraordinary Receipt” means any cash received by or paid to or for the
account of any Person in excess of $1,000,000 not in the ordinary course of business,
including tax refunds, pension plan reversions, proceeds of insurance (other than proceeds
of business interruption insurance to the extent such proceeds constitute compensation for
lost earnings), condemnation awards (and payments in lieu thereof), indemnity payments and
any purchase price adjustments; provided, however, that an Extraordinary
Receipt shall not include cash receipts from proceeds of insurance, condemnation awards (or
payments in lieu thereof) or indemnity payments to the extent that such proceeds, awards or
payments are received by any Person in respect of any third party claim against such Person
and applied to pay (or to reimburse such Person for its prior payment of) such claim and the
costs and expenses of such Person with respect thereto.

     “Fixed Charge Coverage Ratio” means, as of any date of determination, for the
Borrower and its Subsidiaries on a consolidated basis, the ratio of (a) the sum of
(i) EBITDA minus (ii) Capital Expenditures, minus (iii) income tax expense to (b) the sum of
(i) cash Consolidated Interest Expense, plus (ii) Dividends and (iii) scheduled installment
payments of principal of Consolidated Indebtedness, in each case for the four consecutive
fiscal quarters most recently ended.

     “Granting Party” means each Domestic Subsidiary of the Borrower.

     “Intercreditor Agreement” means that certain Intercreditor and Collateral
Agency Agreement, dated as of September 10, 2008, among the Collateral Agent, the
Administrative Agent on behalf of each of the Lenders, Calyon New York Branch, and

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the Noteholders and consented to by the Borrower and each Granting Party, as hereafter
amended, modified or supplemented from time to time, substantially in the form of
Exhibit F.

     “Loan Prepayment Basis” has the meaning specified in Section 2.04(c).

     “Majority Creditors” has the meaning specified in the Intercreditor Agreement.

     “Mortgage Instrument” has the meaning specified in Section 6.15.

     “Mortgaged Property” has the meaning specified in Section 6.15.

     “Net Cash Proceeds” means:

     (a) with respect to any Asset Sale by the Borrower or any of its Subsidiaries,
or any Extraordinary Receipt received or paid to the account of the Borrower or any
of its Subsidiaries, the excess, if any, of (i) the sum of cash and cash equivalents
received in connection with such transaction (including any cash or cash equivalents
received by way of deferred payment pursuant to, or by monetization of, a note
receivable or otherwise, but only as and when so received) over (ii) the sum of
(A) the principal amount of any Indebtedness that is secured by the applicable asset
and that is required to be repaid in connection with such transaction (other than
Indebtedness under the Loan Documents), (B) the reasonable and customary
out-of-pocket expenses incurred by the Borrower or such Subsidiary in connection
with such transaction and (C) taxes reasonably estimated to be actually payable as a
result of the relevant transaction; provided that, if the amount of any estimated
taxes pursuant to subclause (C) exceeds the amount of taxes actually required to be
paid in cash in respect of such Asset Sale, the aggregate amount of such excess
shall constitute Net Cash Proceeds; and

     (b) with respect to the sale or issuance of any Equity Interest by the Borrower
or any of its Subsidiaries, or the incurrence or issuance of any Indebtedness by the
Borrower or any of its Subsidiaries, the excess of (i) the sum of the cash and cash
equivalents received in connection with such transaction over (ii) the underwriting
discounts and commissions, and other reasonable and customary out-of-pocket
expenses, incurred by the Borrower or such Subsidiary in connection therewith.

     “Noteholders” means, collectively, the holders, from time to time, of (a) the
Borrower’s 5.54% Senior Notes due 2016 and (b) the Borrower’s 5.78% Senior Notes due 2011.

     “Reinvestment Property” has the meaning set forth in Section 2.04(c).

     “Senior Secured Obligations” has the meaning specified in the Intercreditor
Agreement.

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     “Security Agreement” means that certain Security Agreement, dated as of
September 10, 2008, by the Borrower and each Granting Party in favor of the Collateral Agent
for the benefit of the Creditors, substantially in the form of Exhibit G.

     “Superpriority Amount” has the meaning specified in the Intercreditor
Agreement.

     “Third Amendment Closing Date” means September 10, 2008.

     (b) Section 1.01 of the Credit Agreement is hereby further amended by deleting the
defined terms “Canadian Facility”, “Canadian Facility Documents” and “Interest
Coverage Ratio” therefrom.

     (c) The definition of “Applicable Rate” set forth in Section 1.01 of the
Credit Agreement is hereby amended to read as follows:

     “Applicable Rate” means the following percentages per annum, based upon the
Leverage Ratio as set forth in the most recent Compliance Certificate received by the
Administrative Agent pursuant to Section 6.02(a):

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Eurodollar Rate	 	 
	Pricing	 	 	 	Commitment	 	for Loans and	 	Base Rate
	Level	 	Leverage Ratio	 	Fee	 	Letters of Credit	 	for Loans
	 	1	 	 	Less than 2.75 to 1.00
	 	 	0.300	 	 	 	1.500	 	 	 	0.500	 
	 	2	 	 	Greater than or equal to 2.75 to
1.00, but less than 3.25 to 1.00
	 	 	0.350	 	 	 	1.750	 	 	 	0.750	 
	 	3	 	 	Greater than or equal to 3.25 to
1.00, but less than 3.75 to 1.00
	 	 	0.400	 	 	 	2.000	 	 	 	1.000	 
	 	4	 	 	Greater than or equal to 3.75 to
1.00, but less than 4.00 to 1.00
	 	 	0.450	 	 	 	2.250	 	 	 	1.250	 
	 	5	 	 	Greater than or equal to 4.00 to 1.00
	 	 	0.500	 	 	 	2.500	 	 	 	1.500	 

     Any increase or decrease in the Applicable Rate resulting from a change in the Leverage
Ratio shall become effective as of the first Business Day immediately following the date a
Compliance Certificate is delivered for any fiscal quarter pursuant to
Section 6.02(a); provided, however, that if a Compliance Certificate
is not delivered when due in accordance with such Section 6.02(a), then Pricing
Level 5 shall apply as of the first Business Day after the date on which such Compliance
Certificate was required to have been delivered and shall remain in effect until the first
Business Day immediately following the date such Compliance Certificate is actually
delivered to the Administrative Agent. Notwithstanding the foregoing, the Applicable Rate
in effect from and after the Third Amendment Closing Date through and including the date the
Compliance Certificate is delivered pursuant to Section 6.02(a) for the third fiscal
quarter of fiscal year 2008 shall be Pricing Level 4.

     In the event that any financial statement delivered pursuant to Section 6.01(a)
or 6.01(b) or any Compliance Certificate delivered pursuant to
Section 6.02(a) is shown to be inaccurate (regardless of whether this Agreement or
the Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if
corrected, would have led to a higher Applicable Rate for any period (an “Applicable
Period”) than the Applicable

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Rate applied for such Applicable Period, then (i) the Borrower shall immediately
deliver to the Administrative Agent a correct Compliance Certificate for such Applicable
Period, (ii) the Applicable Rate shall be determined using the Pricing Level applicable for
such Applicable Period based upon the corrected Compliance Certificate, and (iii) the
Borrower shall immediately pay to the Administrative Agent the accrued additional interest
and fees owing as a result of such increased Applicable Rate for such Applicable Period,
which payment shall be promptly applied by the Administrative Agent in accordance with the
terms hereof. This paragraph shall not limit the rights of the Administrative Agent and the
Lenders under Section 2.07 and Article VIII and other provisions of this
Agreement. The obligations of the Borrower under this paragraph shall survive termination
of the Commitments and the repayment of all other Obligations hereunder.

     (d) The definition of “EBITDA” set forth in Section 1.01 of the Credit
Agreement is hereby amended to read as follows:

     “EBITDA” for any period means Consolidated Net Income for such period plus all
amounts deducted in the computation thereof on account of (a) Consolidated Interest Expense,
(b) depreciation and amortization expenses and other non-cash charges (included but not
limited to expensing of stock options, fixed asset write-offs and impairments of goodwill),
(c) income and profits taxes, and (d) cash restructuring expenses; provided,
however, the aggregate amount of cash restructuring expenses which may be added to
determine EBITDA shall not exceed $5,000,000 for any period of four consecutive fiscal
quarters.

     (e) The definition of “Loan Documents” set forth in Section 1.01 of the Credit
Agreement is hereby amended to read as follows:

     “Loan Documents” means this Agreement, the Notes, the Agent Fee Letter, each
Guaranty, each Request for Credit Extension, each Compliance Certificate, each Collateral
Document, and any other agreement executed, delivered or performable by any Loan Party in
connection herewith or as security for the Obligations.

     (f) The definition of “Restricted Payments” set forth in Section 1.01 of the
Credit Agreement is hereby amended to read as follows:

     “Restricted Payments” means (i) the authorization, declaration or payment of
any Dividend, (ii) the payment, purchase or redemption of principal of or interest on any
Subordinated Debt, (iii) Stock Redemptions, (iv) any voluntary or optional prepayment or
voluntary or optional redemption of the Borrower’s 5.54% Senior Notes due 2016 or the
Borrower’s 5.75% Senior Notes due 2011 and (v) any voluntary or optional prepayment of the
Indebtedness under the Calyon Credit Documents.

     (g) Section 2.04 of the Credit Agreement is hereby amended to read as follows:

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     2.04 Prepayments.

     (a) The Borrower may, upon notice to the Administrative Agent, at any time or from time
to time voluntarily prepay Loans in whole or in part without premium or penalty;
provided that (i) such notice must be received by the Administrative Agent not later
than 10:00 a.m. (A) three Business Days prior to any date of prepayment of Eurodollar Rate
Loans and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment of
Eurodollar Rate Loans shall be in a principal amount of $500,000 or a whole multiple of
$100,000 in excess thereof; and (iii) any prepayment of Base Rate Loans shall be in a
principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each
case, if less, the entire principal amount thereof then outstanding. Each such notice shall
specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and,
if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The
Administrative Agent will promptly notify each Lender of its receipt of each such notice,
and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice
is given by the Borrower, the Borrower shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein. Any
prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the
amount prepaid, together with any additional amounts required pursuant to
Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in
accordance with their respective Applicable Percentages.

     (b) If for any reason the Total Outstandings at any time exceed the Aggregate
Commitments then in effect, the Borrower shall immediately prepay Loans and/or Cash
Collateralize the L/C Obligations in an aggregate amount equal to such excess;
provided, however, that the Borrower shall not be required to Cash
Collateralize the L/C Obligations pursuant to this Section 2.04(b) unless after the
prepayment in full of the Loans the Total Outstandings exceed the Aggregate Commitments then
in effect.

     (c) If the Borrower or any of its Subsidiaries makes an Asset Sale (other than any
Asset Sale permitted by Section 7.02(a), (b) or (c)) which results
in the realization by such Person of Net Cash Proceeds, the Borrower shall immediately
prepay an aggregate principal amount of Loans equal to (x) such Net Cash Proceeds that
exceed $1,000,000 (such amount of Net Cash Proceeds as the “Loan Prepayment Basis”)
times (y)(i) if the Leverage Ratio as of the last fiscal quarter preceding such Asset Sale
is greater than or equal to 3.50 to 1.00, 75% of such Loan Prepayment Basis, (ii) if the
Leverage Ratio as of the last fiscal quarter preceding such Asset Sale is less than 3.50 to
1.00 but greater than or equal to 2.50 to 1.00, 50% of such Loan Prepayment Basis, and
(iii) if the Leverage Ratio as of the last fiscal quarter preceding such Asset Sale is less
than 2.50 to 1.00, 0% of such Loan Prepayment Basis, provided that (A) the Required Lenders
have approved the release of the Superpriority Amount and such release is effective and
(B) the Asset Sale mandatory prepayment provisions (or corresponding provisions) in the Note
Purchase Agreements and the Calyon Credit Agreement are similar to this
Section 2.04(c) (such prepayments to be applied as set forth in clause (h) below and
to be subject to the Intercreditor Agreement and to be reduced by any amounts required to be
paid to other Creditors pursuant to the Intercreditor Agreement). Any portion of the Loan

6

 

Prepayment Basis not used to prepay the Loans shall be reinvested in Reinvestment
Property so long as within 180 days after the receipt of such Net Cash Proceeds, such
purchase shall have been consummated or contractually committed to be consummated pursuant
to a definitive agreement (and, if so contractually committed, actually reinvested within
270 days of the date of receipt of such Net Cash Proceeds; and provided,
however, that any such Net Cash Proceeds not subject to such definitive agreement or
so reinvested as required above shall be immediately applied to the prepayment of the Loans
as set forth in this Section 2.04(c)). As used herein, “Reinvestment
Property” means property that is useful in the business of the Borrower and its
Subsidiaries.

     (d) Upon the sale or issuance by the Borrower or any of its Subsidiaries of any of its
Equity Interests, the Borrower shall prepay an aggregate principal amount of Loans equal to
85% of all Net Cash Proceeds received therefrom (reduced by any amounts required to be paid
to the other Creditors pursuant to the Intercreditor Agreement) immediately upon receipt
thereof by the Borrower or such Subsidiary (such prepayments to be applied as set forth in
clause (h) below and to be subject to the Intercreditor Agreement).

     (e) Upon the incurrence or issuance by the Borrower or any of its Subsidiaries of any
Indebtedness, the Borrower shall prepay an aggregate principal amount of Loans equal to 100%
of all Net Cash Proceeds received therefrom (reduced by any amounts required to be paid to
the other Creditors pursuant to the Intercreditor Agreement) immediately upon receipt
thereof by the Borrower or such Subsidiary (such prepayments to be applied as set forth in
clause (h) below and to be subject to the Intercreditor Agreement).

     (f) Upon any Extraordinary Receipt received by or paid to or for the account of the
Borrower or any of its Subsidiaries, and not otherwise included in clauses (c), (d) or (e)
of this Section 2.04, the Borrower shall prepay an aggregate principal amount of
Loans equal to 100% of all Net Cash Proceeds received therefrom (reduced by any amounts
required to be paid to the other Creditors pursuant to the Intercreditor Agreement)
immediately upon receipt thereof by the Borrower or such Subsidiary (such prepayments to be
applied as set forth in clause (h) below and to be subject to the Intercreditor Agreement);
provided, however, that with respect to any proceeds of insurance,
condemnation awards (or payments in lieu thereof) or indemnity payments, at the election of
the Borrower, and so long as no Default shall have occurred and be continuing, the Borrower
or such Subsidiary may apply such cash proceeds within 180 days after the receipt thereof to
replace or repair the equipment, fixed assets or real property in respect of which such cash
proceeds were received or contractually agree to such replacement or repair within such 180
day period pursuant to definitive agreement (and, if so contractually committed, actually
utilized within 270 days of the date of receipt of such cash proceeds); and provided
further, however, that any Net Cash Proceeds not subject to such definitive
agreement or so applied as required above shall be immediately applied to the prepayment of
the Loans as set forth in this Section 2.04(f).

     (g) Within 15 days after the date that the Audited Financial Statements are required to
be delivered pursuant to Section 6.01(a), commencing with the Audited

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Financial Statements for fiscal year 2008, and by each such date for each fiscal year
thereafter, the Borrower shall prepay Loans in an aggregate principal amount equal to (i) if
the Leverage Ratio as of the last fiscal quarter of such fiscal year is greater than or
equal to 3.50 to 1.00, 75% of the Excess Cash Flow, if any, for the immediately preceding
fiscal year, (ii) if the Leverage Ratio as of the last fiscal quarter of such fiscal year is
less than 3.50 to 1.00 but greater than or equal to 2.50 to 1.00, 50% of the Excess Cash
Flow, if any, for the immediately preceding fiscal year, and (iii) if the Leverage Ratio as
of the last fiscal quarter of such fiscal year is less than 2.50 to 1.00, 0% of the Excess
Cash Flow for the immediately preceding fiscal year, provided that (A) the Required Lenders
have approved the release of the Superpriority Amount and such release is effective and
(B) the Excess Cash Flow mandatory prepayment provisions in the Note Purchase Agreements and
the Calyon Credit Agreement are similar to this Section 2.04(g) (such prepayment to
be applied as set forth in clause (h) below and to be subject to the Intercreditor Agreement
and in each case to be reduced by any amounts to be paid to the other Creditors pursuant to
the Intercreditor Agreement); provided, however, the Excess Cash Flow, if
any, to be paid for the fiscal year ending 2008 shall be calculated on Excess Cash Flow, if
any, for the last fiscal quarter of fiscal year 2008.

     (h) Any mandatory prepayment required pursuant to Section 2.04(b), (c),
(d), (e), (f) or (g) shall (i) in addition to such
prepayment amount, include any amounts required pursuant to Section 3.05, (ii) not
be subject to any notice and minimum payment provisions, (iii) be applied to the Loans of
the Lenders in accordance with their respective Applicable Percentages of such Loans, and
(iv) if the Loans have been repaid in full, to Cash Collateralize the L/C Obligations.
Notwithstanding anything in this Section 2.04 to the contrary, the application of
Net Cash Proceeds required to be made hereunder shall be applied as provided in the
Intercreditor Agreement until such time, if any, that the Intercreditor Agreement is no
longer in effect.

     (h) Section 2.05 of the Credit Agreement is hereby amended to read as follows:

     2.05 Termination or Reduction of Commitments. The Borrower may, upon notice to the
Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently
reduce the Aggregate Commitments; provided that (i) any such notice shall be
received by the Administrative Agent not later than 10:00 a.m. five Business Days prior to
the date of termination or reduction, (ii) any such partial reduction shall be in an
aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof,
(iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving
effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would
exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the
Aggregate Commitments, the Letter of Credit Sublimit exceeds the amount of the Aggregate
Commitments, the Letter of Credit Sublimit shall be automatically reduced by the amount of
such excess. The Administrative Agent will promptly notify the Lenders of any such notice
of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate
Commitments shall be applied to the Commitment of each Lender according to its Applicable
Percentage. All Commitment Fees accrued until the effective date of any termination of the
Aggregate Commitments shall be paid on the effective date of such

8

 

termination. The Aggregate Commitments shall be automatically and permanently reduced
by the amount of any mandatory prepayment of any Loan or any amount of Cash Collateral
required to be made pursuant to Section 2.04 hereof (other than pursuant to
Section 2.04(b)) or Section 2.5 of the Intercreditor Agreement, including any
payment that would have otherwise been required to be made but for the fact that no Loans or
Letters of Credit were outstanding in such amount.

     (i) Section 2.13 of the Credit Agreement is hereby amended to read as follows:

     2.13 [Intentionally Omitted.]

     (j) Section 5.13 of the Credit Agreement is hereby amended to read as follows:

     5.13 Subsidiaries. As of the Third Amendment Closing Date, the Borrower has no
Subsidiaries other than those specifically disclosed in Part (a) of Schedule 5.13
and has no equity investments in any other corporation or entity other than those
specifically disclosed in Part (b) of Schedule 5.13.

     (k) Section 6.14 of the Credit Agreement is hereby amended to read as follows:

     6.14 Minimum Borrower and Guarantor Consolidated Total Operating Income and
Consolidated Total Assets. The Borrower shall cause either (a) at least 75% of the
Consolidated Total Operating Income to be generated by the Borrower and the Guarantors or
(ii) at least 75% of the Consolidated Assets to be owned by the Borrower and the Guarantors.

     (l) Article VI of the Credit Agreement is hereby amended by adding the following
Section 6.15 thereto to read as follows:

     6.15 Collateral. The Borrower shall, and shall cause each Granting Party to,
(a) execute the Security Agreement (or a joinder agreement thereto) in order to grant a Lien
in all personal property (excluding certain intellectual property agreed to by the Required
Lenders and covering only 65% of the equity interests of any Foreign Subsidiary) now or
hereafter owned by the Borrower and such Granting Parties, subject only to Permitted Liens,
in favor of the Collateral Agent, for the ratable benefit of the Creditors, to secure the
Senior Secured Obligations pursuant to the terms and conditions of the Collateral Documents
and (b) deliver such other documentation as the Collateral Agent may request in connection
with the foregoing, including without limitation, landlord’s waivers, certified resolutions
and other Organization Documents and authorizing documents of such Person, favorable
opinions of counsel to such Person (which shall cover, among other things, the legality,
validity, binding effect and enforceability of the documentation referred to above and the
perfection of the Collateral Agent’s Liens thereunder), all in form, content and scope
satisfactory to the Collateral Agent. If requested by the Majority Creditors at any time
after the Third Amendment Closing Date, the Borrower and each Granting Party shall enter
into and deliver to the Collateral Agent a mortgage, deed of trust or other security
document, in form and substance acceptable to the Collateral Agent (a “Mortgage
Instrument”), with respect to each owned real property that has an aggregate fair market
value of at least $3,000,000

9

 

(the “Mortgaged Property”) to secure the Senior Secured Obligations, together
with such title insurance policies, evidence of insurance, insurance certificates and
endorsements, surveys, appraisals, consents, estoppels, waivers, subordination agreements,
bond resolutions, officers certificates, corporate documents, opinions of counsel, and other
documents and instruments as the Collateral Agent shall reasonably request.

     (m) Article VII of the Credit Agreement is hereby amended to read as follows:

ARTICLE VII.

NEGATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain
outstanding, the Borrower shall not, nor shall it permit any Subsidiary to, directly or
indirectly:

     7.01 Liens. Create, incur, assume or suffer to exist any Lien upon any of its
property, assets or revenues, whether now owned or hereafter acquired, other than the
following (collectively, “Permitted Liens”):

     (a) Liens in respect of property of the Borrower or a Subsidiary existing on
September 4, 2008 and described in Schedule 7.01, and any renewals or
extensions thereof, provided (i) the property covered thereby is not changed and
(ii) the amount of Indebtedness secured thereby is not increased;

     (b) Liens in respect of property acquired or constructed by the Borrower or a
Subsidiary after the Closing Date, which are created at the time of or within 180
days after acquisitions or completion of construction of such property to secure
Indebtedness assumed or incurred to finance all or any part of the purchase price or
cost of construction of such property, provided that in any such case;

     (i) no such Lien shall extend to or cover any other property of the
Borrower or such Subsidiary, as the case may be, and

     (ii) the aggregate principal amount of Indebtedness secured by all such
Liens in respect of any such property shall not exceed the cost of such
property and any improvements then being financed;

     (c) Liens in respect to property acquired by the Borrower or a Subsidiary after
the Closing Date, existing on such property at the time of acquisition thereof (and
not created in anticipation thereof), or in the case of any Person that after the
Closing Date becomes a Subsidiary or is consolidated with or merged with or into the
Borrower or a Subsidiary or sells, leases or otherwise disposes of all or
substantially all of its property to the Borrower or a Subsidiary, Liens existing at
the time such Person becomes a Subsidiary or is so consolidated or merged or effects
such sale, lease or other disposition of property (and not created in anticipation
thereof), provided that in any such case no such Lien shall

10

 

extend to or cover any other property of the Borrower or such Subsidiary, as
the case may be;

     (d) Liens securing Indebtedness owed by a Subsidiary to the Borrower or to a
Wholly-Owned Subsidiary which is a Guarantor;

     (e) Liens for taxes not yet due or which are being contested in good faith and
by appropriate proceedings diligently conducted, if adequate reserves with respect
thereto are maintained on the books of the applicable Person in accordance with
GAAP;

     (f) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other
like Liens arising in the ordinary course of business which are not overdue for a
period of more than 30 days or which are being contested in good faith and by
appropriate proceedings diligently conducted, if adequate reserves with respect
thereto are maintained on the books of the applicable Person;

     (g) pledges or deposits in the ordinary course of business in connection with
workers’ compensation, unemployment insurance and other social security legislation,
other than any Lien imposed by ERISA;

     (h) deposits to secure the performance of bids, trade contracts and leases
(other than Indebtedness), statutory obligations, surety bonds (other than bonds
related to judgments or litigation), performance bonds and other obligations of a
like nature incurred in the ordinary course of business;

     (i) easements, rights-of-way, restrictions and other similar encumbrances
affecting real property which, in the aggregate, are not substantial in amount, and
which do not in any case materially detract from the value of the property subject
thereto or materially interfere with the ordinary conduct of the business of the
applicable Person; and

     (j) Liens in respect of property of the Borrower and its Domestic Subsidiaries
to secure the Senior Secured Obligations.

For purposes of this Section 7.01 any Lien existing in respect of property at the
time such property is acquired or in respect of property of a Person at the time such Person
is acquired, consolidated or merged with or into the Borrower or a Subsidiary shall be
deemed to have been created at that time.

     7.02 Disposition of Assets. Make any sale, transfer, lease (as lessor), loan or other
disposition of any property or assets (an “Asset Sale”), other than the following:

     (a) Asset Sales in the ordinary course of business;

     (b) Asset Sales of property or assets by a Subsidiary to the Borrower or a
Wholly-Owned Subsidiary that is a Subsidiary Guarantor;

11

 

     (c) the Asset Sale as a result of the Disclosed Transaction; or

     (d) other Asset Sales, provided that in each case

     (i) immediately before and after giving effect thereto, no Default
shall have occurred and be continuing, and

     (ii) the aggregate net book value of the property or assets disposed of
in such Asset Sale and all other Asset Sales by the Borrower and its
Subsidiaries during the immediately preceding twelve months does not exceed
15% of Consolidated Net Worth (as of the last day of the quarterly
accounting period ending on or most recently prior to the last day of such
twelve month period).

     For purposes of this Section 7.02, any Voting Equity Interests of a Subsidiary
that are the subject of an Asset Sale shall be valued at the greater of (x) the fair market
value of such shares as determined in good faith by the Board of Directors of the Borrower
and (y) the aggregate net book value of the assets of such Subsidiary multiplied by a
fraction of which the numerator is the aggregate number of Voting Equity Interests of such
Subsidiary disposed of in such Asset Sale and the denominator is the aggregate number of
Voting Equity Interests of such Subsidiary outstanding immediately prior to such Asset Sale.

     7.03 Consolidations and Mergers. Consolidate with or merge with any other corporation
or convey, transfer or lease all or substantially all of its assets in a single transaction
or series of transactions to any Person except a Subsidiary may consolidate with or merge
with any other corporation or convey or transfer all or substantially all of its assets to
(a) the Borrower (provided that the Borrower shall be the continuing or surviving
corporation) or a then-existing Wholly-Owned Subsidiary that is a Subsidiary Guarantor and
(b) any Person in an Asset Sale involving all of the outstanding stock or all or
substantially all of the assets of such Subsidiary, in either case subject to the limitation
of Section 7.02.

     7.04 Loans and Investments. Purchase or acquire, or make any commitment therefor, any
capital stock, equity interest, or any obligations or other securities of, or any interest
in, any Person, or make or commit to make any Acquisitions, or make or commit to make any
advance, loan, extension of credit or capital contribution to or any other investment in,
any Person including any Affiliate of the Borrower (collectively, “Investments”),
except for:

     (a) Investments held by the Borrower or any Subsidiary in the form of cash
equivalents or short term marketable securities;

     (b) extensions of credit in the nature of accounts receivable or notes
receivable arising from the sale or lease of goods or services in the ordinary
course of business;

12

 

     (c) extensions of credit by the Borrower to any of its Wholly-Owned
Subsidiaries or by any of its Wholly-Owned Subsidiaries to another of its
Wholly-Owned Subsidiaries;

     (d) pledges or deposits as required in the ordinary course of business in
connection with workmen’s compensation, unemployment insurance and other social
security legislation;

     (e) advances, loans, extensions of credit or investments in the ordinary course
of business; provided that the aggregate amount thereof shall not exceed
$15,000,000;

     (f) Investments incurred in order to consummate Permitted Acquisitions; and

     (g) purchases and other acquisitions by the Borrower of stock of the Borrower
to the extent permitted by Section 7.13.

     7.05 Limitation on Indebtedness. Create, assume, incur, guarantee, permit to exist or
otherwise become liable in respect of any Indebtedness unless immediately before and after
giving effect thereto no Default exists or would result therefrom; provided,
however, notwithstanding anything herein to the contrary, in no event shall the
aggregate amount of Indebtedness outstanding at any time of all Subsidiaries (excluding
(i) Guarantees permitted pursuant to clauses (a), (b), (c) and (d) of Section 7.12,
(ii) Indebtedness of a Subsidiary existing on July 30, 2008 and described in
Schedule 7.05 but no increase of any such Indebtedness, (iii) Indebtedness of a
Subsidiary that is a Guarantor owed to the Borrower or any Guarantor or Indebtedness of a
Subsidiary that is not a Guarantor owed to the Borrower or any other Subsidiary,
(iv) Indebtedness under the Loan Documents, and (v) Indebtedness of a Subsidiary secured by
Liens permitted pursuant to clause (h) of Section 7.01), exceed $5,000,000 in
aggregate amount.

     7.06 Consolidated Net Worth. Permit Consolidated Net Worth at any time to be less than
the sum of (i) $350,000,000 plus (ii) 50% of Consolidated Net Income for each fiscal quarter
beginning with the fiscal quarter ending on April 30, 2006 (excluding any fiscal quarter in
which Consolidated Net Income is not positive) plus (iii) 85% of the net proceeds of any
equity issued by the Borrower after January 31, 2006, minus (iv) non-cash impairment charges
for goodwill, intangible and fixed assets at such time of determination.

     7.07 Fixed Charge Coverage Ratio. Permit the Fixed Charge Coverage Ratio to be less
than (a) 1.50 to 1.00 at the end of any fiscal quarter-end occurring during the period from
and including the Third Amendment Closing Date through and including the fourth fiscal
quarter of fiscal year 2009, (b) 1.75 to 1.00 at the end of any fiscal quarter-end occurring
during the period from and including the first day of the first fiscal quarter of fiscal
year 2010 through and including the second fiscal quarter of fiscal year 2010, and (c) 2.25
to 1.00 at the end of any fiscal quarter thereafter.

13

 

     7.08 Leverage Ratio. Permit the Leverage Ratio to exceed (a) 4.35 to 1.00 at any time
from and including the Third Amendment Closing Date through and including the day
immediately preceding the last day of the fourth fiscal quarter of fiscal year 2008,
(b) 4.25 to 1.00 from and including the last day of the fourth fiscal quarter of fiscal year
2008 through and including the day immediately preceding the last day of the first fiscal
quarter of fiscal year 2009, (c) 4.00 to 1.00 from and including the last day of the first
fiscal quarter of fiscal year 2009 through and including the day immediately preceding the
last day of the third fiscal quarter of fiscal year 2009, (d) 3.75 to 1.00 from and
including the last day of the third fiscal quarter of fiscal year 2009 through and including
the day immediately preceding the last day of the first fiscal quarter of fiscal year 2010,
and (e) 3.50 to 1.00 thereafter.

     7.09 Sale/Leasebacks. Sell, lease, transfer or otherwise dispose of (collectively, a
“transfer”) any asset on terms whereby the asset or a substantially similar asset is or may
be leased or reacquired by the Borrower or any Subsidiary over a period in excess of three
years, unless after giving effect to such transaction and the incurrence of Attributable
Debt in respect thereof, the aggregate Attributable Debt in connection with all sale and
leaseback transactions of the Borrower and its Subsidiaries entered into after the Third
Amendment Closing Date in accordance with the provisions of this Section 7.09, does
not exceed $10,000,000.

     7.10 Transactions with Affiliates. Enter into any transaction with any Affiliate of
the Borrower (other than a Subsidiary), except upon fair and reasonable terms no less
favorable to the Borrower or such Subsidiary than would obtain in an comparable arm’s-length
transaction with a Person not an Affiliate of the Borrower.

     7.11 Use of Proceeds. Use any portion of any Loan proceeds or any Letter of Credit,
directly or indirectly, (i) to purchase or carry Margin Stock, (ii) to repay or otherwise
refinance indebtedness of the Borrower or others incurred to purchase or carry Margin Stock
or (iii) to extend credit for the purpose of purchasing or carrying any Margin Stock.

     7.12 Guarantees. Create, incur, assume or suffer to exist any Guarantees except:

     (a) endorsements for collection or deposit in the ordinary course of business;

     (b) Guarantees of Indebtedness of the Borrower and its Subsidiaries to the
extent such Indebtedness is permitted hereunder, provided that all
Guarantees in respect of Swap Contracts shall arise under contracts entered into in
the ordinary course of business as bona fide hedging transactions;

     (c) Guarantees of the Borrower and its Subsidiaries existing as of the Closing
Date and listed in Schedule 7.12; and

     (d) Guarantees of the Borrower or any Subsidiary in respect of the obligations
(which do not constitute Indebtedness) of (i) in the case of the

14

 

Borrower, any Subsidiary, and (ii) in the case of any Subsidiary, the Borrower
or any Subsidiary of such Subsidiary or any other Subsidiary.

     7.13 Restricted Payments. Declare or make any Restricted Payment except that (i) any
Subsidiary may declare and pay Dividends to (x) the Borrower, (y) a Guarantor, and (z) the
parent of such Subsidiary; and (ii) provided no Default exists or would result therefrom,
the Borrower may pay Dividends not to exceed $1,650,000 in aggregate amount during any
fiscal quarter commencing with the Borrower’s fourth fiscal quarter of fiscal year 2008.

     7.14 ERISA. (a) Engage in a prohibited transaction or violation of the fiduciary
responsibility rules with respect to any Plan which has resulted or could reasonably be
expected to result in liability of the Borrower in an aggregate amount in excess of
$2,000,000; or (b) engage in a transaction that could be subject to Section 4069 or 4212(c)
of ERISA.

     7.15 Change in Business. Engage in any material line of business substantially
different from those lines of business carried on by the Borrower and its Subsidiaries on
the date hereof.

     7.16 Accounting Changes. Make any significant change in accounting treatment or
reporting practices, except as required by GAAP, or change the fiscal year of the Borrower
or of any Subsidiary.

     7.17 Amendment and Waivers of Subordinated Debt. Change or permit any Subsidiary to
change or amend (or take any action or fail to take any action the result of which is an
effective amendment or change) or accept any waiver or consent with respect to, any
document, instrument or agreement relating to any Subordinated Debt that would result in
(a) an increase in the principal, interest, overdue interest, fees or other amounts payable
under any Subordinated Debt, (b) an acceleration of any date fixed for payment or prepayment
of principal, interest, fees or other amounts payable under any Subordinated Debt
(including, without limitation, as a result of any redemption), (c) a change in any of the
subordination provisions of any Subordinated Debt, or (d) any other change in any term or
provision of any Subordinated Debt that could reasonably be expected to have an adverse
effect on the interest of the Lenders.

     7.18 Capital Expenditures. Permit Capital Expenditures of the Borrower and its
Subsidiaries during (a) fiscal year 2008 to exceed $20,000,000, (b) fiscal year 2009 to
exceed $26,000,000, (c) fiscal year 2010 to exceed $28,000,000, and (d) fiscal year 2011 to
exceed $32,000,000.

     7.19 Senior Note Documents. Except as otherwise provided in the Intercreditor
Agreement, change or permit any Subsidiary to change or amend (or take any action or fail to
take any action the result of which is an effective amendment or change) or accept any
waiver or consent with respect to, any Senior Note Document that would result in (a) an
increase in the principal, interest, overdue interest, fees or other amounts payable under
any Senior Note Document, (b) an acceleration of any date fix for

15

 

payment or prepayment of principal, interest, overdue interest, fees or other amounts
payable under any Senior Note Document, (c) the terms and provisions of the Senior Note
Documents, including without limitation the negative covenants and the events of default,
being more restrictive to the Borrower and its Subsidiaries than the terms and provisions of
this Agreement, or (d) the Borrower or any Subsidiary being subject to any prohibition or
limitation on making any payment or prepayment under the Loan Documents.

     7.20 Calyon Credit Documents. Except as otherwise provided in the Intercreditor
Agreement, change or permit any Subsidiary to change or amend (or take any action or fail to
take any action the result of which is an effective amendment or change) or accept any
waiver or consent with respect to, any Calyon Credit Document that would result in (a) an
increase in the principal, interest, overdue interest, fees or other amounts payable under
any Calyon Credit Document, (b) an acceleration of any date fix for payment or prepayment of
principal, interest, overdue interest, fees or other amounts payable under any Calyon Credit
Document, (c) the terms and provisions of the Calyon Credit Documents, including without
limitation the negative covenants and the events of default, being more restrictive to the
Borrower and its Subsidiaries than the terms and provisions of this Agreement, or (d) the
Borrower or any Subsidiary being subject to any prohibition or limitation on making any
payment or prepayment under the Loan Documents.

     (n) Section 8.01(b) of the Credit Agreement is hereby amended to read as follows:

     (b) Specific Covenants. The Borrower or any Subsidiary fails to perform or
observe any term, covenant or agreement contained in any of Section 6.03,
6.05, 6.11, 6.15, 7.01, 7.02, 7.03,
7.05, 7.06, 7.07, 7.08, 7.09, 7.13,
7.17, 7.18, 7.19 and 7.20 required to be performed or
observed by it; or

     (o) Section 8.01 is hereby amended by (i) deleting “or” after subsection (j) thereof,
(ii) deleting “.” after subsection (k) thereof and inserting “;” in lieu thereof and (iii) adding
the following new subsection (l) thereto to read as follows:

     (l) Collateral Documents. Any Collateral Document shall for any reason (other
than on account of the Collateral Agent’s election not to take possession of or make certain
filings or registrations in respect of certain Collateral) fail to create a valid and
perfected first priority (subject only to Permitted Liens) in any Collateral purported to be
covered thereby, except as permitted by the terms of any Collateral Document; or

     (p) Notwithstanding the amount of Aggregate Commitments, after September 9, 2008 the Total
Outstandings shall not exceed $145,000,000 (as reduced by any amount that the Aggregate Commitments
are reduced pursuant to Section 2.05 as a result of mandatory prepayments of the Loans
required to be made pursuant to Sections 2.04(c), (d), (e), (f) and
(g)), and the Borrower shall have no right to request any Credit Extension if, after giving
effect thereto and the application of the proceeds thereof, the Total Outstandings would exceed
$145,000,000 (as reduced as provided in the immediately preceding parenthetical); provided,
however, if the Required Lenders have released the Superpriority Amount and such release is

16

 

	 	 	effective and the Leverage Ratio for the most recently ended fiscal quarter is less than 2.50
to 1.00, the Total Outstandings may be in an aggregate amount up to the Aggregate Commitments,
without the need for any action or consent by the Administrative Agent or any Lender.

     (q) The Compliance Certificate is hereby amended to be in the form of Exhibit C
attached to this Third Amendment.

     (r) Schedule 5.13 to the Credit Agreement is hereby amended to be in the form of
Schedule 5.13 attached to this Third Amendment.

     (s) Schedule 7.01 to the Credit Agreement is hereby amended to be in the form of
Schedule 7.01 attached to this Third Amendment.

     2. REPRESENTATIONS AND WARRANTIES TRUE; NO EVENT OF DEFAULT. By its execution and
delivery hereof, the Borrower represents and warrants that, as of the date hereof and after giving
effect to the amendments contemplated by the foregoing Section 1:

     (a) the representations and warranties contained in the Credit Agreement and the other Loan
Documents are true and correct on and as of the date hereof as if made on and as of such date,
except to the extent that such representations and warranties specifically refer to an earlier
date, in which case they are true and correct as of such earlier date;

     (b) no event has occurred and is continuing which constitutes a Default or an Event of
Default;

     (c) (i) the Borrower has full corporate power and authority to execute, deliver and perform
this Third Amendment and the Security Agreement, (ii) each Granting Party has full legal power and
authority to execute, deliver and perform the Security Agreement, (iii) this Third Amendment, the
Security Agreement and the Credit Agreement, as amended hereby, constitute the legal, valid and
binding respective obligations of the Borrower, enforceable against the Borrower, in accordance
with their respective terms, except as enforceability may be limited by applicable Debtor Relief
Laws and by general principles of equity (regardless of whether enforcement is sought in a
proceeding in equity or at law) and except as rights to indemnity may be limited by federal or
state securities laws, and (iv) the Security Agreement constitutes the legal, valid and binding
respective obligations of each Granting Party, enforceable against each Granting Party, in
accordance with their respective terms, except as enforceability may be limited by applicable
Debtor Relief Laws and by general principles of equity (regardless of whether enforcement is sought
in a proceeding in equity or at law) and except as rights to indemnity may be limited by federal or
state securities laws;

     (d) (i) the execution, delivery and performance by the Borrower of this Third Amendment, the
Security Agreement and the Credit Agreement, as amended hereby, do not and will not conflict with,
result in a breach of or constitute a default under, any Organization Document of the Borrower or
any Contractual Obligation to which the Borrower is a party or by which its respective properties
may be bound and (ii) the execution, delivery and performance by each Granting Party of the
Security Agreement does not and will not conflict with, result in a breach of or constitute a
default under any Organization Document of any Granting Party or any

17

 

Contractual Obligation to which any Granting Party is a party or by which its respective
properties may be bound; and

     (e) (i) no authorization, approval, consent, or other action by, notice to, or filing with,
any Governmental Authority or other Person (including the Borrower’s Board of Directors) not
previously obtained is required for the execution, delivery or performance by the Borrower of this
Third Amendment and the Security Agreement and (ii) no authorization, approval, consent or other
action by, notice to, or filing with, any Governmental Authority or other Person (including any
Granting Party’s Board of Directors or similar governing body) not previously obtained is required
for the execution, delivery or performance by any Granting Party of the Security Agreement.

     3. CONDITIONS TO EFFECTIVENESS. This Third Amendment shall be effective as of
September 10, 2008, subject to the following:

     (a) the Administrative Agent shall have received counterparts of this Third Amendment executed
by the Required Lenders;

     (b) the Administrative Agent shall have received counterparts of this Third Amendment executed
by the Borrower and acknowledged by each Guarantor;

     (c) the representations and warranties set forth in Section 2 of this Third Amendment shall be
true and correct;

     (d) the Administrative Agent shall have received from the Borrower for the benefit of each
Lender executing and delivering this Third Amendment to the Administrative Agent or its counsel by
the date and time communicated to the Lenders by the Administrative Agent an amendment fee in
immediately available funds in an amount equal to the product of (i) 0.15% and (ii) the amount that
each Lender’s Commitment;

     (e) the Administrative Agent shall have received counterparts of the Security Agreement
executed by the Borrower and each Granting Party, together with related UCC-1 financing statements,
intellectual property filings, stock or other appropriate certificates, if applicable, for 100% of
the equity interest of each Domestic Subsidiary;

     (f) the Administrative Agent shall have received certificates showing the existence of all
insurance policies required by the Collateral Documents, together with certificates and
endorsements naming the Collateral Agent as loss payee and additional insured;

     (g) the Calyon Credit Agreement, and the Note Purchase Agreements shall have been amended in
form and substance satisfactory to the Administrative Agent;

     (h) the Administrative Agent shall have received certificates of resolutions or other similar
action, incumbency certificates and/or certificates of Responsible Officers of the Borrower and
each Granting Party as the Administrative Agent may require evidencing the identity, authority and
capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in
connection with this Third Amendment;

18

 

     (i) the Administrative Agent shall have received an opinion of the Borrower’s counsel, in form
and substance satisfactory to the Administrative Agent, with respect to matters set forth in
Sections 2(c), (d) and (e) of this Third Amendment and with respect to such other matters as
requested by the Administrative Agent or its counsel;

     (j) the Administrative Agent shall have received counterparts of the Intercreditor Agreement
executed by all parties thereto (including the Administrative Agent on behalf of the Lenders);

     (k) the Administrative Agent shall have received all fees payable to the Administrative Agent
and Arranger as agreed to by the Borrower;

     (l) the Borrower shall have paid all Attorney Costs of the Administrative Agent incurred in
connection with this Third Amendment to the extent invoiced; and

     (m) the Administrative Agent and the Lenders shall have received in form and substance
satisfactory to the Administrative Agent and the Lenders, such other documents and certificates as
the Lenders shall require.

     4. GUARANTORS ACKNOWLEDGMENT. By signing below, each of the Guarantors
(i) acknowledges, consents and agrees to the execution, delivery and performance by the Borrower of
this Third Amendment, (ii) acknowledges and agrees that its obligations in respect of the Guaranty
are not released, diminished, waived, modified, impaired or affected in any manner by this Third
Amendment or any of the provisions contemplated herein, (iii) ratifies and confirms its obligations
under the Guaranty, and (iv) acknowledges and agrees that it has no claims or offsets against, or
defenses or counterclaims to, the Guaranty.

     5. DIRECTION TO EXECUTE INTERCREDITOR AGREEMENT. By signing below, each of the
Lenders hereby directs and requests that the Administrative Agent execute the Intercreditor
Agreement on behalf of the Lenders.

     6. REFERENCE TO THE CREDIT AGREEMENT.

     (a) Upon the effectiveness of this Third Amendment, each reference in the Credit Agreement to
“this Agreement”, “hereunder”, or words of like import shall mean and be a reference to the Credit
Agreement, as affected and amended by this Third Amendment.

     (b) The Credit Agreement, as amended by this Third Amendment, and all other Loan Documents
shall remain in full force and effect and are hereby ratified and confirmed.

     7. COSTS, EXPENSES AND TAXES. The Borrower agrees to pay on demand all costs and
expenses of the Administrative Agent in connection with the preparation, reproduction, execution
and delivery of this Third Amendment and the other instruments and documents to be delivered
hereunder (including the reasonable fees and out-of-pocket expenses of counsel for the
Administrative Agent with respect thereto and with respect to advising the Administrative Agent as
to its rights and responsibilities under the Credit Agreement, as amended by this Third Amendment).

19

 

     8. EXECUTION IN COUNTERPARTS. This Third Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which when taken together shall
constitute but one and the same instrument. For purposes of this Third Amendment, a counterpart
hereof (or signature page thereto) signed and transmitted by any Person party hereto to the
Administrative Agent (or its counsel) by facsimile machine, telecopier or electronic mail is to be
treated as an original. The signature of such Person thereon, for purposes hereof, is to be
considered as an original signature, and the counterpart (or signature page thereto) so transmitted
is to be considered to have the same binding effect as an original signature on an original
document.

     9. GOVERNING LAW; BINDING EFFECT. This Third Amendment shall be governed by and
construed in accordance with the laws of the State of Texas applicable to agreements made and to be
performed entirely in such state; provided that the Administrative Agent and each Lender
shall retain all rights arising under federal law. This Third Amendment shall be binding upon all
parties hereto and their respective successors and assigns.

     10. HEADINGS. Section headings in this Third Amendment are included herein for
convenience of reference only and shall not constitute a part of this Third Amendment for any other
purpose.

     11. RELEASE. THE BORROWER AND EACH GUARANTOR HEREBY ACKNOWLEDGE THAT THE OBLIGATIONS
UNDER THE CREDIT AGREEMENT AND EACH OTHER LOAN DOCUMENT EXECUTED IN CONNECTION THEREWITH ARE
ABSOLUTE AND UNCONDITIONAL WITHOUT ANY RIGHT OF RESCISSION, SETOFF, COUNTERCLAIM, DEFENSE, OFFSET,
CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE WHATSOEVER THAT CAN BE ASSERTED TO REDUCE OR
ELIMINATE ALL OR ANY PART OF ITS LIABILITY TO REPAY THE OBLIGATIONS UNDER THE CREDIT AGREEMENT AND
EACH OTHER LOAN DOCUMENT EXECUTED IN CONNECTION THEREWITH OR TO SEEK AFFIRMATIVE RELIEF OR DAMAGES
OF ANY KIND OR NATURE FROM ANY RELEASED PARTY (AS DEFINED BELOW). THE BORROWER AND EACH GUARANTOR
HEREBY VOLUNTARILY AND KNOWINGLY RELEASE AND FOREVER DISCHARGE THE ARRANGER, THE ADMINISTRATIVE
AGENT, THE L/C ISSUER, EACH LENDER AND ITS PREDECESSORS, EACH RELATED PARTY TO ANY OF THE ABOVE,
AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES, COUNSEL, AGENTS, ATTORNEYS-IN-FACT, SUCCESSORS, AND
ASSIGNS (COLLECTIVELY, THE “RELEASED PARTIES”), FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS,
CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN,
ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL, AT LAW
OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS THIRD AMENDMENT IS
EXECUTED, WHICH THE BORROWER OR ANY GUARANTOR MAY NOW OR HEREAFTER HAVE AGAINST THE RELEASED
PARTIES, IF ANY, AND IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION
OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING OUT OF OR IN CONNECTION WITH OR BY REASON OF THE
CREDIT AGREEMENT OR ANY OTHER

20

 

LOAN DOCUMENT EXECUTED IN CONNECTION THEREWITH, INCLUDING, WITHOUT LIMITATION, ANY CONTRACTING
FOR, CHARGING, TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL
RATE APPLICABLE, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE CREDIT AGREEMENT OR ANY OTHER
LOAN DOCUMENT EXECUTED IN CONNECTION THEREWITH, AND NEGOTIATION FOR AND EXECUTION OF THIS THIRD
AMENDMENT (BUT EXCLUDING IN ALL CASES ANY OF THE FOREGOING ARISING FROM THE GROSS NEGLIGENCE OR
WILLFUL MISCONDUCT OF THE RELEASED PARTIES).

     12. ENTIRE AGREEMENT. THE CREDIT AGREEMENT, AS AMENDED BY THIS THIRD AMENDMENT, AND
THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AS TO THE SUBJECT MATTER
THEREIN AND HEREIN AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT
ORAL AGREEMENTS BETWEEN THE PARTIES.

REMAINDER OF PAGE LEFT INTENTIONALLY BLANK

21

 

     IN WITNESS WHEREOF, this Third Amendment is executed as of the date first set forth above.

	 	 	 	 	 
	 	SPARTECH CORPORATION

 	 
	 	By:  	 	 
	 	 	Randy C. Martin 	 
	 	 	Executive Vice President and Chief

Financial Officer 	 
	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as

Administrative Agent	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as a Lender and L/C
Issuer
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a
Lender and Syndication Agent	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	KEYBANK, NATIONAL ASSOCIATION, as a Lender and
Syndication Agent	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	NATIONAL CITY BANK OF PENNSYLVANIA, as a
Lender and Documentation Agent	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	CALYON NEW YORK BRANCH, as a Lender and
Documentation Agent	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	SUNTRUST BANK, as a Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	FIFTH THIRD BANK, as a Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	U. S. BANK NATIONAL ASSOCIATION, as a Lender
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	COMERICA BANK, as a Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	DEUTSCHE BANK TRUST
COMPANY 

AMERICAS, as a Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Signature Page to Third Amendment

 

 

ACKNOWLEDGED AND AGREED TO:

	 	 	 	 	 	 	 
	ATLAS ALCHEM PLASTICS, INC.	 	 
	ALCHEM PLASTICS CORPORATION	 	 
	ALCHEM PLASTICS, INC.	 	 
	SPARTECH PLASTICS, LLC	 	 
	 

	 	By:
	 	Spartech Corporation, its sole

member	 	 
	POLYMER EXTRUDED PRODUCTS, INC.	 	 
	SPARTECH POLYCAST, INC.	 	 
	SPARTECH TOWNSEND, INC.	 	 
	SPARTECH INDUSTRIES FLORIDA, INC.	 	 
	SPARTECH POLYCOM, INC.	 	 
	FRANKLIN-BURLINGTON PLASTICS, INC.	 	 
	SPARTECH INDUSTRIES, INC.	 	 
	ANJAC-DORON PLASTICS, INC.	 	 
	SPARTECH CMD, LLC	 	 
	 

	 	By:
	 	Spartech Corporation, its sole

member	 	 
	SPARTECH FCD, LLC	 	 
	 

	 	By:
	 	Polymer Extruded Products, Inc., 

its sole member	 	 
	SPARTECH SPD, LLC	 	 
	 

	 	By:
	 	Spartech Corporation, its sole

member	 	 
	SPARTECH MEXICO HOLDING COMPANY	 	 
	SPARTECH MEXICO HOLDING COMPANY TWO	 	 
	SPARTECH MEXICO HOLDINGS, LLC	 	 
	 

	 	By:
	 	Spartech Mexico Holding Company,

its sole member	 	 
	CREATIVE FORMING, INC.	 	 
	SPARTECH POLYCOM (TEXAS), INC.	 	 
	ALSHIN TIRE CORPORATION	 	 
	X-CORE, LLC	 	 
	 

	 	By:
	 	Spartech Industries, Inc.,
its sole member	 	 

	 	 	 	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Randy C. Martin

Vice President for all of the above
	 	 

Signature Page to Third Amendment

 

 

EXHIBIT C

FORM OF COMPLIANCE CERTIFICATE

Financial Statement Date:                    

To:     Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

     Reference is made to that certain Credit Agreement, dated as of June 2, 2006 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the
“Agreement;” the terms defined therein being used herein as therein defined), among
Spartech Corporation, a Delaware corporation (the “Borrower”), the Lenders from time to
party thereto and Bank of America, N.A. as Administrative Agent and L/C Issuer.

     The
undersigned hereby certifies as of the date hereof that he/she is the                                                       
       of the Borrower and
that, as such, he/she is authorized to execute and deliver this certificate to the Administrative
Agent on the behalf of the Borrower and that:

[Use following for fiscal year-end financial statements]

Attached hereto as Schedule 1 are the year-end audited financial statements required by
Section 6.01(a) of the Agreement for the fiscal year of the Borrower ended as of the above
date, together with the report and opinion of an independent certified public accountant required
by such section.

[Use following for fiscal quarter-end financial statements]

     1. Attached hereto as Schedule 1 are the unaudited financial statements required by
Section 6.01(b) of the Agreement for the fiscal quarter of the Borrower ended as of the
date set forth above as the Financial Statement Date. Such financial statements fairly present in
all material respects the financial condition, results of operations and cash flows of the Borrower
and its Subsidiaries in accordance with GAAP as at such date and for such period, subject only to
normal year-end audit adjustments and the absence of footnotes.

     2. The undersigned has reviewed and is familiar with the terms of the Agreement and has made,
or has caused to be made under his/her supervision, a detailed review of the transactions and
condition (financial or otherwise) of the Borrower during the accounting period covered by the
attached financial statements.

     3. A review of the activities of the Borrower during such fiscal period has been made under
the supervision of the undersigned with a view to determining whether during such fiscal period the
Borrower performed and observed all its Obligations under the Loan Documents and

Exhibit C
- 1

Form of Compliance Certificate

 

 

[select one:]

     [to the best knowledge of the undersigned during such fiscal period, the Borrower performed
and observed each covenant and condition of the Loan Documents applicable to it and no Default has
occurred and is continuing.]

—or—

     [the following covenants or conditions have not been performed or observed and the following
is a list of each such Default and its nature and status:]

     4. The representations and warranties of the Borrower contained in Article V of the Agreement,
and any representations and warranties of any Loan Party that are contained in any document
furnished at any time under or in connection with the Loan Documents, are true and correct on and
as of the date hereof, except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they are true and correct as of such earlier date, and
except that for purposes of this Compliance Certificate, the representations and warranties
contained in subsections (a) and (b) of Section 5.05 of the Agreement shall be deemed to
refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of
Section 6.01 of the Agreement, including the statements in connection with which this
Compliance Certificate is delivered. The financial covenant analyses and information set forth on
Schedule 2 attached hereto are true and accurate on and as of the date set forth above as
the Financial Statement Date.

     IN
WITNESS WHEREOF, the undersigned has executed this Certificate as of                                         ,           
          .

	 	 	 	 	 	 	 
	 	 	SPARTECH CORPORATION, a	 	 
	 	 	Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

Exhibit C
- 2

Form of Compliance Certificate

 

 

For the Quarter/Year ended                                         (“Statement Date”)

SCHEDULE 2

to the Compliance Certificate

($ in 000’s)

	 	 	 	 	 
	I.
Section 7.02(c) - Limitation on Asset Dispositions.
	 	 	 	 
	 
	 	 	 	 
	A. Aggregate net book value of the property or assets disposed of in asset sales (other than
asset sales pursuant to 7.02(a), (b) and 7.02(c)):
	 	$	                    	 
	 
	 	 	 	 
	B. All other asset sales by Borrower and its Subsidiaries during the immediately preceding
twelve months:
	 	$	                    	 
	 
	 	 	 	 
	C. Total (Line I.A. + I.B.):
	 	$	                    	 
	 
	 	 	 	 
	D. Maximum (15% x IV.A.(5):
	 	$	                    	 
	 
	 	 	 	 
	II. Section 7.04(e) - Limitations on Loans and Investment.
	 	 	 	 
	 
	 	 	 	 
	A. Aggregate outstanding advances, loans, extensions of credit or investments in the ordinary
course of business:
	 	$	                    	 
	 
	 	 	 	 
	B. Maximum in aggregate amount at any one time outstanding:
	 	$	15,000,000	 
	 
	 	 	 	 
	III. Section 7.05 - Limitation on Indebtedness.
	 	 	 	 
	 
	 	 	 	 
	A. Aggregate outstanding amount of Indebtedness of all Subsidiaries (excluding (i) Guarantees
permitted pursuant to clauses (a), (b), (c) and (d) of Section 7.12, (ii) Indebtedness of a
Subsidiary existing on July 30, 2008 and described in Schedule 7.05 but no increase of any
such Indebtedness, (iii) Indebtedness of a Subsidiary owed to the Borrower or any Guarantor,
(iv) Indebtedness under the Loan Documents, and (v) Indebtedness of a Subsidiary secured by
Liens permitted pursuant to clause (h) of Section 7.01):
	 	$	                    	 
	 
	 	 	 	 
	B. Maximum permitted amount of Subsidiary Indebtedness:
	 	$	5,000,000	 
	 
	 	 	 	 
	IV.
Section 7.06 - Consolidated Net Worth.
	 	 	 	 
	 
	 	 	 	 
	A. Consolidated Net Worth:
	 	 	 	 
	 
	 	 	 	 
	(1) Capital stock taken at par or stated value:
	 	$	                    	 

Exhibit C
- 3

Form of Compliance Certificate

 

 

	 	 	 	 	 
	(2) Capital in excess of par or stated value relating to
capital stock:
	 	$	                    	 
	 
	 	 	 	 
	(3) Retained earnings (or minus any retained earnings
deficit):
	 	$	                    	 
	 
	 	 	 	 
	(4) Sum of treasury stock, capital stock subscribed for
and unissued and other contra-equity accounts, all as
determined in accordance with GAAP:
	 	$	                    	 
	 
	 	 	 	 
	(5) Total (Line IV.A.(1) + (2) + (3) - (4)):
	 	$	                    	 
	 
	 	 	 	 
	B. Minimum Consolidated Net Worth.
	 	 	 	 
	 
	 	 	 	 
	(1) $350,000,000:
	 	$	                    	 
	 
	 	 	 	 
	(2) 50% of Consolidated Net Income for each fiscal
quarter beginning with the fiscal quarter ending on
April 30, 2006 (excluding any fiscal quarter in which
Consolidated Net Income is not positive):
	 	$	                    	 
	 
	 	 	 	 
	(3) 85% of the net proceeds of any equity issued by the
Borrower after January 31, 2006:
	 	$	                    	 
	 
	 	 	 	 
	(4) Non-cash impairment charges for goodwill, intangible
and fixed assets:
	 	$	                    	 
	 
	 	 	 	 
	(5) Minimum Consolidated Net Worth (Lines IV.B.(1) + (2)
+ (3) - (4)):
	 	$	                    	 
	 
	 	 	 	 
	V. Section 7.07 - Minimum Fixed Charge Coverage Ratio.
	 	 	 	 
	 
	 	 	 	 
	A. EBITDA for the Borrower and its Subsidiaries on a consolidated basis for the period of the
four fiscal quarters most recently ended (the “Subject Period”):
	 	 	 	 
	 
	 	 	 	 
	1. Consolidated Net Income for the Subject Period:
	 	$	                    	 
	 
	 	 	 	 
	2. Without duplication and to the extent deducted in
determining Net Income, Consolidated Interest
Expense:
	 	$	                    	 

Exhibit C - 4

Form of Compliance Certificate

 

 

	 	 	 	 	 
	3. Without duplication and to the extent deducted in
determining Net Income, depreciation and amortization
expenses and other non-cash charges (including but
not limited to expensing of stock options, fixed
asset write-offs and impairment of goodwill):
	 	$	                    	 
	 
	 	 	 	 
	4. Without duplication and to the extent deducted in
determining Net Income, income and profits taxes:
	 	$	                    	 
	 
	 	 	 	 
	5. Without duplication and to the extent deducted in
determining Net Income, cash restructuring expenses
(not to exceed $5,000,000 for any period of four
consecutive fiscal quarters):
	 	$	                    	 
	 
	 	 	 	 
	6. EBITDA (Lines VI.A.1. + 2. + 3. + 4 + 5.):
	 	$	                    	 
	 
	 	 	 	 
	B. Capital Expenditures for the Subject Period:
	 	$	                    	 
	 
	 	 	 	 
	C. Income tax expenses for the Subject Period:
	 	$	                    	 
	 
	 	 	 	 
	D. Consolidated Interest Expense for the Subject Period:
	 	$	                    	 
	 
	 	 	 	 
	E. Dividends for the Subject Period:
	 	$	                    	 
	 
	 	 	 	 
	F. Scheduled installment payments of principal of Consolidated Indebtedness for the Subject
Period:
	 	$	                    	 
	 
	 	 	 	 
	G. Fixed
Charge Coverage Ratio ((Line V.A.6. - Line V.B - Line V.C.)  ̧ (Line V.D. + Line
V.E. + Line V.F.)):
	 	____ to 1.00
	 
	 	 	 	 
	H. Minimum Required Fixed Charge Coverage Ratio — see Section 7.07:
	 	____ to 1.00
	 
	 	 	 	 
	VI. Section 7.08 - Maximum Leverage Ratio
	 	 	 	 
	 
	 	 	 	 
	A. Consolidated Indebtedness:
	 	 	 	 
	 
	 	 	 	 
	1. Indebtedness (without duplication)
	 	 	 	 
	 
	 	 	 	 
	(a) all obligations of such
Person for borrowed
money and all
obligations of such
Person evidenced by
bonds, debentures,
notes, loan agreements
or other similar
instruments:
	 	$	                    	 

Exhibit C - 5

Form of Compliance Certificate

 

 

	 	 	 	 	 
	(b) all direct or
contingent obligations
of such Person arising
under letters of credit
(including standby and
commercial), bankers’
acceptances, bank
guaranties, surety
bonds and similar
instruments:
	 	$	                    	 
	 
	 	 	 	 
	(c) net obligations of such
Person under any Swap
Contract:
	 	$	                    	 
	 
	 	 	 	 
	(d) all obligations of such
Person to pay the
deferred purchase price
of property or services
(other than trade
accounts payable in the
ordinary course of
business):
	 	$	                    	 
	 
	 	 	 	 
	(e) accrued obligations in
respect of earnout or
similar payments
payable in cash or
which may be payable in
cash at the seller’s or
obligee’s option:
	 	$	                    	 
	 
	 	 	 	 
	(f) Indebtedness (excluding
prepaid interest
thereon) secured by a
Lien on property owned
or being purchased by
such Person (including
indebtedness arising
under conditional sales
or other title
retention agreements),
whether or not such
Indebtedness shall have
been assumed by such
Person or is limited in
recourse:
	 	$	                    	 
	 
	 	 	 	 
	(g) Capitalized Lease
Obligations and
Synthetic Lease
Obligations:
	 	$	                    	 
	 
	 	 	 	 
	(h) Obligations in respect
of Redeemable Stock of
such Person:
	 	$	                    	 
	 
	 	 	 	 
	(i) any “withdrawal
liability” of such
Person as such term is
defined under Part I of
Subtitle E of Title IV
of ERISA:
	 	$	                    	 
	 
	 	 	 	 
	(j) all Guarantees of such
Person in respect of
any of the foregoing:
	 	$	                    	 
	 
	 	 	 	 
	(k) Consolidated
Indebtedness (Lines
VI.A.1.(a) + (b) + (c)
+ (d) + (e) + (f) + (g)
+ (h) + (i) + (j)):
	 	$	                    	 

Exhibit C
- 6

Form of Compliance Certificate

 

 

	 	 	 	 	 
	B. EBITDA for the Borrower and its Subsidiaries on a consolidated basis for the period of the
four fiscal quarters most recently ended (the “Subject Period”). For purposes of calculating
the Leverage Ratio as at any date, EBITDA shall be calculated on a pro forma basis assuming
that all Acquisition made, and all divestitures completed, during the four consecutive fiscal
quarters then most recently ended had been made on the first day of such period (but without
adjustment for expected cost savings or other synergies):
	 	 	 	 
	 
	 	 	 	 
	1. Consolidated Net Income for the Subject Period:
	 	$	                    	 
	 
	 	 	 	 
	2. Without duplication and to the extent deducted in
determining Net Income, Consolidated Interest
Expense:
	 	$	                    	 
	 
	 	 	 	 
	3. Without duplication and to the extent deducted in
determining Net Income, depreciation and amortization
expenses and other non-cash charges (including but
not limited to expensing of stock options, fixed
asset write-offs and impairment of goodwill):
	 	$	                    	 
	 
	 	 	 	 
	4. Without duplication and to the extent deducted in
determining Net Income, income and profits taxes:
	 	$	                    	 
	 
	 	 	 	 
	5. Without duplication and to the extent deducted in
determining Net Income, cash restructuring expenses
(not to exceed $5,000,000 for any period of four
consecutive fiscal quarters):
	 	$	                    	 
	 
	 	 	 	 
	6. EBITDA (Lines VI.B.1. _ 2. + 3. + 4. + 5.):
	 	$	                    	 
	 
	 	 	 	 
	C. Leverage Ratio (Line VI.A.1.(k)  ̧ Line VI.B.6.):
	 	_____ to 1.00
	 
	 	 	 	 
	D. Maximum Leverage Ratio — see Section 7.08:
	 	_____ to 1.00
	 
	 	 	 	 
	VII. Section 7.13 - Limitation on Restricted Payments
	 	 	 	 
	 
	 	 	 	 
	A. Aggregate amount of Dividends paid during fiscal quarter
	 	$	                    	 
	 
	 	 	 	 
	B. Aggregate amount of Dividends permitted during fiscal quarter
	 	$	1,650,000	 
	 
	 	 	 	 
	VIII. Section 7.18 - Limitation on Capital Expenditures
	 	 	 	 
	 
	 	 	 	 

Exhibit C
- 7

Form of Compliance Certificate

 

 

	 	 	 	 	 
	A. Aggregate amount of Capital Expenditures made during fiscal year                     :
	 	$	                    	 
	 
	 	 	 	 
	B. Aggregate amount of Capital Expenditures permitted to be made during fiscal year
                     (see Section 7.18):
	 	$	                    	 
	 
	 	 	 	 
	IX Excess Cash Flow Calculation for fiscal year                     
	 	 	 	 
	 
	 	 	 	 
	A. EBITDA (excluding cash restructuring charges):
	 	$	                    	 
	 
	 	 	 	 
	B. Cash interest income:
	 	$	                    	 
	 
	 	 	 	 
	C. Net decreases (if any) in working capital:
	 	$	                    	 
	 
	 	 	 	 
	D. Lines IX.A. + IX.B. + IX.C.:
	 	$	                    	 
	 
	 	 	 	 
	E. Restricted Payments:
	 	$	                    	 
	 
	 	 	 	 
	F. Income taxes paid in cash:
	 	$	                    	 
	 
	 	 	 	 
	G. Unfinanced portion of Capital Expenditures:
	 	$	                    	 
	 
	 	 	 	 
	H. Amounts expended for Permitted Acquisitions:
	 	$	                    	 
	 
	 	 	 	 
	I. Scheduled principal payments of Indebtedness (excluding intercompany Indebtedness):
	 	$	                    	 
	 
	 	 	 	 
	J. Cash interest and fees in respect of any Indebtedness (excluding intercompany Indebtedness):
	 	$	                    	 
	 
	 	 	 	 
	K. Net increases (if any) in working capital:
	 	$	                    	 
	 
	 	 	 	 
	L. Lines IX.E. + IX.F. + IX.G. + IX.H. + IX.I. + IX.J. + IX.K.:
	 	$	                    	 
	 
	 	 	 	 
	M. Excess
Cash Flow (Line IX.D. - Line IX.L.):
	 	$	                    	 

Exhibit C
- 8

Form of Compliance Certificate

 

 

SCHEDULE 5.13

SUBSIDIARIES AND EQUITY INVESTMENTS

	 	 	 	 	 	 	 	 	 
	 	 	Jurisdiction of	 	 	 	 	 	 
	Name	 	Organization 	 	Guarantor	 	 	 	 
	 
	(a) Domestic Subsidiaries (Excluding Inactive Subsidiaries)
	 	 	 	 	 	 	 	 
	Atlas Alchem Plastics, Inc.
	 	Delaware	 	X	 	 	 	 
	Alchem Plastics Corporation
	 	Georgia	 	X	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Alchem Plastics, Inc.
	 	Delaware	 	X	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Spartech Plastics, LLC
	 	Delaware	 	X	 	 	 	 
	Spartech SPD, LLC
	 	Delaware	 	X	 	 	 	 
	Spartech CMD, LLC
	 	Delaware	 	X	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Spartech Polycast, Inc.
	 	Delaware	 	X	 	 	 	 
	Spartech Townsend, Inc.
	 	Delaware	 	X	 	 	 	 
	Spartech Industries Florida, Inc.
	 	Delaware	 	X	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Spartech Industries, Inc.
	 	Delaware	 	X	 	 	 	 
	X-Core, LLC
	 	California	 	X	 	 	 	 
	Alshin Tire Corporation
	 	California	 	X	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Anjac-Doron Plastics, Inc.
	 	Delaware	 	X	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	PEPAC Holdings, Inc.
	 	Delaware	 	 	 	 	 	 
	Polymer Extruded Products, Inc.
	 	New Jersey	 	X	 	 	 	 
	Spartech FCD, LLC
	 	Delaware	 	X	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Franklin-Burlington Plastics, Inc.
	 	Delaware	 	X	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Spartech Polycom, Inc.
	 	Pennsylvania	 	X	 	 	 	 
	Spartech Polycom (Texas), Inc.
	 	Delaware	 	X	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Spartech Mexico Holding Company
	 	Missouri	 	X	 	 	 	 
	Spartech Mexico Holding Company Two
	 	Missouri	 	X	 	 	 	 
	Spartech Mexico Holdings, LLC
	 	Missouri	 	X	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Creative Forming, Inc.
	 	Wisconsin	 	X	 	 	 	 

Schedule 5.13

 

 

					
	 
	 	2
	 	Schedule 5.13

	 	 	 
	 	 	Jurisdiction of
	Name	 	Organization
	 
	(b) Foreign Subsidiaries
	 	 
	 
	 	 
	Spartech Canada, Inc.
	 	New Brunswick
	Spartech de México Holding Company, S. de R.L. de C.V.
	 	Mexico
	Spartech de México, S.A. de C.V.
	 	Mexico
	Prestadora de Servicios Industriales de Personal, S.A. de C.V.
	 	Mexico
	Industriales Spartech de México, S. de R.L. de C.V.
	 	Mexico
	Prestadora de Servicios Industriales de Personal, S.A. de C.V.
	 	Mexico
	Spartech Polycom, S.A.S.
	 	France
	 
	 	 
	(c) Inactive Subsidiaries
	 	 
	 
	 	 
	None
	 	 
	 
	 	 
	(d) Other Equity Investments
	 	 
	 
	 	 
	Plastic Recycling Center, LLC (50% owned)
	 	South Carolina

 

 

SCHEDULE 7.01

EXISTING LIENS

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	NMHG Financial
Services, Inc.
	 	DE SOS
	 	5/2/02
	 	21241235
	 	All of the equipment now or hereafter leased by Lessor
to Lessee; and all accessories, additions, replacements
and substitutions thereto and therefore and all proceeds
including insurance proceeds, thereof. 4131780 NMHGFS
Cost Center 08A23
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	NMHG Financial
Services, Inc.
	 	DE SOS
	 	1/30/07
	 	20070380039
	 	Continuation of above filing
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	De Lage Landen
Financial Services,
Inc.
	 	DE SOS
	 	4/10/03
	 	30943616
	 	All equipment of any make or manufacture, together with
all accessories and attachments financed by or leased to
lessee by lessor under Master Lease Agreement Number 218
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	De Lage Landed
Financial Services,
Inc.
	 	DE SOS
	 	10/12/07
	 	20073849527
	 	Continuation of above filing
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	NMHG Financial
Services, Inc.
	 	DE SOS
	 	10/27/03
	 	32610114
	 	All of the equipment now or hereafter leased by lessor
to lessee; and all accessions, additions, replacements
and substitutions thereto and therefrom and all
proceeds, including insurance proceeds thereof
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	NMHG Financial
Services, Inc.
	 	DE SOS
	 	4/30/08
	 	20081496098
	 	Continuation of above filing
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicorp Del Lease,
Inc.
	 	DE SOS
	 	11/10/03
	 	32951013
	 	Two New Kalmar Model C508X Serial 566115, 566017 — 188”
Mast, 42” Forks, Sideshifter
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicorp Leasing,
Inc.
	 	DE SOS
	 	1/28/04
	 	40230898
	 	One New Nissan Model # JC50LP Serial CPJ029W5347 —
Triples Mast, 42” Forks & Sideshifter

 Schedule 7.01

1

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	Atlas Copco
Compressors Inc.
	 	DE SOS
	 	5/3/04
	 	41231283
	 	One Atlas Copco Industrial Air Compressor, Model GA
75-VSDAP s/n AII496165, and all proceed derived from the
sale or other disposition of this compressor

Additional debtor — Spartech PEP
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Associates Leasing,
Inc.
	 	DE SOS
	 	5/10/04
	 	41298761
	 	In Lieu of Continuation filing — migrated: Filing No.
3037361; Filed with MO SOS, Filed 5/21/99; Collateral
One New Nissan Forklift Model JC60LP S/N 9R0913 Together
with all present and future attachments, accessories,
replacement parts, additions, and all cash and non-cash
proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicorp Leasing,
Inc.
	 	DE SOS
	 	5/13/04
	 	41339292
	 	One New Mitsubishi Model # FG25KLPHO Serial # AF17C90125
— 188” Mast, 42” Forks & Sideshifter; One New Martin
Cab #126012

Additional debtor Spartech Plastics
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital
Technology Finance,
Inc.
	 	DE SOS
	 	5/18/04
	 	41374133
	 	Equip Desc. OFD# 12655, Oracle, Quantity, Model: Oracle
software, serial, license; equip; asset detail.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicorp Del-Lease,
Inc.
	 	DE SOS
	 	7/28/04
	 	42121426
	 	Three new Nissan Model JC50LP Serial # CPJO29W5072,
CPJ029W5073, CPJ029W5294 — 187” Mast, 42” Forks,
Sideshifter
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Associates Leasing,
Inc.
	 	DE SOS
	 	10/7/04
	 	42826636
	 	In Lieu of Continuation Filing — migrated: File No.
3089105, Filed 10/28/99; Filed with MO SOS; Collateral: Two Nissan Forklift Model JC30LP S/N 9N2182 & 9N2179;
One Nissan Forklift Model JC60LP S/N 9R1126; together
with all present and future attachments, accessories,
replacement parts, additions, and all cash and non-cash
proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Associates

Commercial
	 	DE SOS
	 	11/9/04
	 	43157957
	 	In Lieu of Continuation Filing — migrated: File No.
3137065, Filed 12/29/99, Filed with KS SOS; Collateral:
	 

	 	Corporation
	 	 	 	 	 	 	 	One Nissan Forklift Model JC50LP S/N 9P3955, together
with all present and future attachments, accessories,
replacements parts, additions, and all cash and non-cash
proceeds

2

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	IOS Capital
	 	DE SOS
	 	11/16/04
	 	43292630
	 	All equipment now or hereafter leased in an equipment
leasing transaction in connection with that certain
Product Schedule No/Agreement 4237733 Master Agreement
NO. Customer: 495130 IKCPP8050 C10007980, as amended
from time to time between lessor and lessee, including
without limit , all additions, improvements,
attachments, accessories, accessions, upgrades, etc.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Sun Microsystems

Finance
	 	DE SOS
	 	12/3/04
	 	43444819
	 	All equipment and related items (“Products”) that are
the subject of and described in any Lease Schedule
whether existing now or in the future, to that certain
Master Lease Agreement No. 4326123, and all additions,
attachments, accessions, replacement parts and
substitutions of such products, etc.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Sun Microsystems

Finance
	 	DE SOS
	 	12/29/04
	 	50063389
	 	Specific listing of equipment, and all additions,
attachments, accessions, replacement parts and
substitutions thereof, whether now or hereafter affixed
thereto and installed therein, and all proceeds of the
foregoing, including insurance proceeds. Lease
Agreement Number 4326123-001
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial

Corporation
	 	DE SOS
	 	1/24/05
	 	50255738
	 	In Lieu of Continuation Filing — migrated: File No.
4068533, Filed 7/19/00, Filed with MO SOS: File NO.
093617, Filed 7/21/00; Filed with Cape Girardeau, MO;
Collateral — Two Nissan Forklifts Model JC30LP S/N
9N2364 and 9N2387, together with all present and future
attachments, accessories, replacement parts, additions
and all cash and non-cash proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial

Corporation
	 	DE SOS
	 	1/25/05
	 	50263476
	 	In Lieu of Continuation Filing — migrated: File No.
4068535, Filed 7/19/00; Filed with MO SOS; File No.
093616; Filed 8/21/00; Filed with Cape Girardeau, MO;
Collateral — One Nissan Forklift Model JC30LP S/N
9N2365, together with all present and future
attachments, accessories, replacement parts, additions
and all cash and non-cash proceeds thereof.

3

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	Citicapital

Commercial

Corporation
	 	DE SOS
	 	1/25/05
	 	50263575
	 	In Lieu of Continuation Filing — migrated: File No.
2337393, Filed 7/19/00, Filed with IN SOS; Collateral —
Two Nissan Forklifts Model JC35LP S/N 9N2274 and 8N2266,
together with all present and future attachments,
accessories, replacement parts, additions and all cash
and non-cash proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial

Corporation
	 	DE SOS
	 	1/25/05
	 	50263757
	 	In Lieu of Continuation Filing — migrated: File No.
20020660210, Filed 7/19/00, Filed with CA SOS;
Collateral — Four Nissan Forklifts Model JC30LP S/N
9N2183, 9N2184, 9N2185 and 9N2186, together with all
present and future attachments, accessories, replacement
parts, additions and all cash and non-cash proceeds
thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial

Corporation
	 	DE SOS
	 	1/25/05
	 	50263849
	 	In Lieu of Continuation Filing — migrated: File No.
D675818, Filed 7/19/00, Filed with MI SOS; Collateral —
One Nissan Forklift Model JC30 S/N 9N2180, together with
all present and future attachments, accessories,
replacement parts, additions and all cash and non-cash
proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial

Corporation
	 	DE SOS
	 	1/25/05
	 	50264367
	 	In Lieu of Continuation Filing — migrated: File No.
488303; Filed 11/1/99, Filed with OR SOS; Collateral —
One Nissan Forklift Model JC30LP S/N 9N2182, together
with all present and future attachments, accessories,
replacement parts, additions and all cash and non-cash
proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial

Corporation
	 	DE SOS
	 	6/26/06
	 	62255503
	 	Amendment to above filing — add collateral — In Lieu of
Continuation Filing — migrated: File No. 488303; Filed
11/1/99, Filed with OR SOS, File NO. 488303, Filed
10/11/04, Filed with OR SOS — continuation filing.

4

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	1/25/05
	 	50264540
	 	In Lieu of Continuation Filing — migrated: File No.
2530048, Filed 2/10/99, File No. 573790, Filed 2/4/04,
Filed with KS SOS; Collateral — One Nissan Forklift
CPJ02a25pv, sn 9p3489, together with all present and
future attachments, accessories, replacement parts,
additions and all cash and non-cash proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	1/25/05
	 	50264698
	 	In Lieu of Continuation Filing — migrated: File No.
AP286341, Filed 6/12/00; File No. 20043630320, Filed
12/27/04, Filed with OH SOS; Collateral — One Nissan
Forklift Model JC30LP S/N 9N2179; One Nissan Forklift
Model JC60LP, S/N 9R1126, together with all present and
future attachments, accessories, replacement parts,
additions and all cash and non-cash proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	1/25/05
	 	50264854
	 	In Lieu of Continuation Filing — migrated: File No.
2337393, Filed 7/19/00, Filed with IN SOS; Collateral —
One Nissan Forklift Model JC30LP S/N 9N2266; One Nissan
Forklift Model JC30LP S/N 9N2274, together with all
present and future attachments, accessories, replacement
parts, additions and all cash and non-cash proceeds
thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	6/29/06
	 	62256683
	 	Amendment to above filing added collateral: In Lieu of
continuation filing — File No. 50264854, Filed 1/25/05,
Filed with DE SOS
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/17/05
	 	50542168
	 	In Lieu of Continuation Filing — migrated: File No.
4067783, Filed 7/18/00, Filed with MO SOS; File No.
200009150, Filed 7/21/00, Filed with St. Louis, MO;
Collateral — One Nissan Forklift Model JC80LP, S/N
9R1453, together with all present and future
attachments, accessories, replacement parts, additions
and all cash and non-cash proceeds thereof.

5

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/17/05
	 	50542556
	 	In Lieu of Continuation Filing — migrated: File No.
3814662, Filed 7/18/00, Filed with KS SOS; Collateral —
One Nissan Forklift Model JC50LP S/N 9P6241; One Nissan
Forklift Model JC50LP S/N 9P6242, together with all
present and future attachments, accessories, replacement
parts, additions and all cash and non-cash proceeds
thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/17/05
	 	50542754
	 	In Lieu of Continuation Filing — migrated: File No.
3574977, Filed 5/4/00, Filed with KS SOS; Collateral —
One Nissan Forklift Model JC40LP, S/N 9Q0533; One Nissan
Forklift Model JC40LP, S/N 9Q5034, together with all
present and future attachments, accessories, replacement
parts, additions and all cash and non-cash proceeds
thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/17/05
	 	50543133
	 	In Lieu of Continuation Filing — migrated: File No.
4206523, Filed 5/8/00, Filed with IL SOS; Collateral —
One Nissan Forklift Model JC40LP, S/N 9Q0535, together
with all present and future attachments, accessories,
replacement parts, additions and all cash and non-cash
proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/17/05
	 	50543398
	 	In Lieu of Continuation Filing — migrated; File No.
004206533, Filed 5/3/00, Filed with IL SOS; Collateral
— One Nissan Forklift Model JC40LP S/N 900535, together
with all present and future attachments, accessories,
replacement parts, additions and all cash and non-cash
proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/18/05
	 	50550823
	 	In Lieu of Continuation Filing — migrated: File No.
3727104, File 6/19/00, Filed with KS SOS; Collateral —
One Nissan Forklift Model JC50LP, S/N 9P6731, together
with all present and future attachments, accessories,
replacement parts, additions and all cash and non-cash
proceeds thereof.

6

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/18/05
	 	50551151
	 	In Lieu of Continuation Filing — migrated: File No.
4059964, Filed 6/21/00, Filed with MO SOS; File No.
200007977, Filed 6/23/00; Filed with St. Louis, MO;
Collateral — Contract 111-93417; One Nissan Forklift
Model JC30LP S/N 9N2182 contract 111-93886 Two Nissan
Forklifts Model JC60LP S/N 9R1126 and Model JC30LP S/N
9N2182, together with all present and future
attachments, accessories, replacement parts, additions
and all cash and non-cash proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/18/05
	 	50551235
	 	In Lieu of Continuation Filing — migrated: File No.
0023660486, Filed 8/16/00, Filed with CA SOS; Collateral
— One Nissan Forklift Model JC50 S/N 9P7276, together
with all present and future attachments, accessories,
replacement parts, additions and all cash and non-cash
proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/18/05
	 	50551391
	 	In Lieu of Continuation Filing — migrated: File No.
517187; Filed 6/22/00; Filed with OR SOS; Collateral —
One Nissan Forklift Model JC30LP S/N 9N2182, together
with all present and future attachments, accessories,
replacement parts, additions and all cash and non-cash
proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/18/05
	 	50551458
	 	In Lieu of Continuation Filing — migrated: File No.
4068527, Filed 7/19/00;Filed with MO SOS; File No.
200009152,Filed 7/21/00; Filed with St. Louis, MO;
Collateral — Contract 111-93885; One Nissan Forklift
Model JC30LP S/N 9N2180 Contract 111-93483 Four Nissan
Forklifts Model JC30LP S/N 9N2180, 9N2183, 9N2184,
9N2185 and 9N2186, together with all present and future
attachments, accessories, replacement parts, additions
and all cash and non-cash proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/18/05
	 	50551516
	 	In Lie of Continuation Filing — migrated: File No.
3819356; Filed 7/19/00, Filed with KS SOS; Collateral —
One Nissan Forklift Model CPJ02A25 S/N 9p618, together
with all present and future attachments, accessories,
replacement parts, additions and all cash and non-cash
proceeds thereof.

7

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/18/05
	 	50551573
	 	In Lieu of Continuation Filing — migrated: File No.
3588597; Filed 5/8/00; Filed with KS SOS; Collateral —
Two Nissan Forklifts Model JC40LP S/N 9Q0531 & 9Q0533,
together with all present and future attachments,
accessories, replacement parts, additions and all cash
and non-cash proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	2/23/05
	 	50588971
	 	In Lieu of Continuation Filing — migrated: File No.
0023660486, Filed 8/16/00, Filed with CA SOS; Collateral
— One Nissan Forklift Model JC50 S/N 9P7276, together
with all present and future attachments, accessories,
replacement parts, additions and all cash and non-cash
proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Citicapital

Commercial Leasing

Corporation
	 	DE SOS
	 	6/29/06
	 	62256600
	 	Amendment to above filing — add collateral; In Lieu of
Continuation Filing: File NO. 50588971, Filed 2/23/05,
Filed with DE SOS
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	The CIT
Group/Equipment
Financing, Inc.
	 	DE SOS
	 	9/26/05
	 	52977776
	 	In Lieu of Continuation Filing — migrated: File No.
01-0030233, Filed 1/5/01, Filed with TX SOS, File No.
D730294, Filed 1/5/01, Filed with MI SOS; Collateral —
One Nissan Model JC80LP S/N 9R1801, and all additions,
substitutions, attachments, replacements and accessions
thereof, plus the proceeds of all the foregoing.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	NMHG Financial
Services, Inc.
	 	DE SOS
	 	5/19/06
	 	61701713
	 	All of the equipment now or hereafter leased by Lessor
to Lessee; and all accessions, additions, replacements,
and substitutions thereto and therefore, and all
proceeds including insurance proceeds thereof.

8

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	Pacific Rim
Capital, Inc.
	 	DE SOS
	 	8/28/06
	 	62984599
	 	All present and future goods including, but not limited
to various Hitachi equipment, peripherals, and software,
and any replacement, substitutions, additions,
attachment, modification, update, revision, new version,
enhancement, accessory, insurance proceeds and the cash
proceeds of an goods, wherever located leaded by Pacific
Rim Capital, Inc. (“Lessor”) to Spartech Corporation
(“Lessee”) pursuant to Equipment Schedule No. 1
(“Lease”) incorporating the terms of Master Equipment
Lease Agreement dated 7/10/06 between Lessor and Lessee.
UCC filing intended to be for informational and
precautionary purposes only and to give notice of
Lessor’s ownership of the goods and the existence of a
true lease.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Pacific Rim
Capital, Inc.
	 	DE SOS
	 	11/10/06
	 	63932027
	 	All present and future goods including, but not limited
to One Nissan Forklift BX50EE Truck and other related
equipment, and any replacement, substitutions,
additions, attachment, modification, update, revision,
new version, enhancement, accessory, insurance proceeds
and the cash proceeds of an goods, wherever located
leaded by Pacific Rim Capital, Inc. (“Lessor”) to
Spartech Corporation (“Lessee”) pursuant to Equipment
Schedule No. 2 (“Lease”) incorporating the terms of
Master Equipment Lease Agreement dated 7/10/06 between
Lessor and Lessee. UCC filing intended to be for
informational and precautionary purposes only and to
give notice of Lessor’s ownership of the goods and the
existence of a true lease.

9

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	Alpha Systems, Inc.
	 	DE SOS
	 	4/2/07
	 	20071211985
	 	The diamond plate roll is jointly owned by Alpha
Systems, Inc., (“Alpha Systems”) and Spartech
Corporation dba Spartech Plastics (“Spartech”). Spartech
will not extruded sheet or roll stock for anyone other
that Alpha Systems, in markets that are served by Alpha
Systems, without Alpha Systems prior written consent.
The coin pattern roll is not transacted, but is to be
owned solely by Alpha Systems. When the transaction for
the coin pattern roll is complete, Alpha Systems will
have exclusivity for the coin patter roll. Spartech
will not extruded sheet or roll stock from the coin
pattern roll for anyone other than Alpha Systems without
Alpha Systems prior written consent. The diamond plate
and coin pattern embossing rolls are described as
follows: One Embossed extrusion roller with diamond
plate pattern; One Embossed extrusion roller with coin
pattern.

Additional debtor — Spartech Plastics
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	Pacific Rim
Capital, Inc.
	 	DE SOS
	 	9/7/07
	 	20073405718
	 	All present and future goods including, but not limited
to One Nissan BX60 Forklift Truck; One Nissan CF60LP
Truck; One 770 Cab to fit PF60LP Nissan Forklift; One
Nissan PF60LP Fork Truck and One Nissan PF50LP Fork
Truck and other related equipment, and any replacement,
substitutions, additions, attachment, modification,
update, revision, new version, enhancement, accessory,
insurance proceeds and the cash proceeds of an goods,
wherever located leaded by Pacific Rim Capital, Inc.
(“Lessor”) to Spartech Corporation (“Lessee”) pursuant
to Equipment Schedule No. 3 (“Lease”) incorporating the
terms of Master Equipment Lease Agreement dated 7/10/06
between Lessor and Lessee. UCC filing intended to be f
or informational and precautionary purposes only and to
give notice of Lessor’s ownership of the goods and the
existence of a true lease.

10

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Corporation

	 	MB Financial Bank,
N.A.
	 	DE SOS
	 	10/26/07
	 	20074075270
	 	Assignment of above filing
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Corporation

	 	NMHG Financial
Services, Inc.
	 	DE SOS
	 	6/10/08
	 	20081976800
	 	All of the equipment now or hereafter leased by Lessor
to Lessee; and all accessions, additions, replacements,
and substitutions thereto and therefore; and all
proceeds including insurance proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech 

Corporation —

Defendant

	 	Michael B. Conway —
Plaintiff
	 	St. Louis County, MO
	 	3/27/97
	 	2197CC-00954
	 	Case Type: CC Person Injury — Other; judgment entered
against defendant 8/14/98 in the amount of $100,000.00
— not satisfied
	 
	 	 	 	 	 	 	 	 	 	 
	Alchem Plastics,
Inc.

	 	General Electric

Capital Corporation
	 	DE SOS
	 	12/27/02
	 	23242702
	 	In Lieu of Continuation filing — migrated: File No.
0105760958, Filed 2/23/01, Filed with CA SOS —
Collateral: All of Debtor’s right, title and interest
in, to and under that following (a) that certain
contract dated 12/29/00 involving the equipments: (b)
Two GE Jenbacher JGS 616 version E02 reciprocating gas
gen-sets and related auxiliaries, plus all other
upgrades, attachments, accessories, additions,
replacements and substitutions now or hereafter attached
thereto and made a part thereof, and all proceeds,
including insurance proceeds, of any of the foregoing.
	 
	 	 	 	 	 	 	 	 	 	 
	Alchem Plastics,
Inc.

	 	General Electric

Capital Corporation
	 	DE SOS
	 	8/10/07
	 	20073056214
	 	Continuation of above filing
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech
Industries, Inc.

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	10/6/06
	 	63468212
	 	Three Forklift Model # 7FBCU25 Serial # 02559, 02513,
02681; Two Toyota Forklift Model 7BCU25, Serial # 68244,
68225; Two Battery Model 18-85F-23 Serial # PL107061188,
PL1070661189; Two Charger Model # PH3M-18-96 Serial #
EH149699. It is the intent of the parties that the
transaction referenced herein constitutes a true lease.
The secured party is the owner of the property. This
filing is made as a precaution should the transaction be
viewed as other than a true lease

11

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech
Industries, Inc.

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	10/20/06
	 	63660149
	 	One Toyota Forklift Model # 7FGCU25 Serial # 03661. It
is the intent of the parties that the transaction
referenced herein constitutes a true lease. The secured
party is the owner of the property. This filing is made
as a precaution should the transaction be viewed as
other than a true lease
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech
Industries, Inc.

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	4/20/07
	 	20071481679
	 	One New Toyota Forklift Model # 7FGCU25 Serial # 04213.
It is the intent of the parties that the transaction
referenced herein constitutes a true lease. The secured
party is the owner of the property. This filing is made
as a precaution should the transaction be viewed as
other than a true lease
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech
Industries, Inc.

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	4/24/08
	 	20081430279
	 	One Toyota Forklift Model # 7FBCU25 Serial # 71084. It
is the intent of the parties that the transaction
referenced herein constitutes a true lease. The secured
party is the owner of the property. This filing is made
as a precaution should the transaction be viewed as
other than a true lease
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech
Industries, Inc.

	 	Indiana Dept. of
Revenue
	 	Kosciusko County, IN
	 	3/31/08
	 	06953412

(08-005349)
	 	State tax lien in the amount of $2,066.98
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycast,
Inc.

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	7/19/07
	 	20072722410
	 	Four Toyota Forklift Model # 8FGCU30 Serial # 10664,
10665, 10666, 10667. It is the intent of the parties
that the transaction referenced herein constitutes a
true lease. The secured party is the owner of the
property
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycast,
Inc.

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	10/25/07
	 	20074050711
	 	Four Toyota Forklift Model # 8FGU30 Serial # 11681,

11682, 11696, 11721
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycast,
Inc.

	 	 	 	Bergen County, NJ
	 	 	 	 	 	No state, federal tax liens or judgment liens — county
clerk as of 8/29/08; No state tax liens or judgment
liens — Trenton superior court as of 8/29/08
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	Amano Business

Credit
	 	PA SOS
	 	11/10/03
	 	20031126307
	 	1 Tennant 5700 XP-FAST; as per lease SP1003
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	Prolift, Inc.
	 	PA SOS
	 	4/26/04
	 	20040428998
	 	New Daewoo Model GC25E s/n CV-0272 Note unit is located
at below address: 4921 I.D.A. Park Drive, Lockport NY
14084

12

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Polycom,
Inc.

	 	NMHG Financial
Services, Inc.
	 	PA SOS
	 	6/30/04
	 	20040698966
	 	Any and all material handling equipment manufactured by
NACCO Material Handling Company and any and all
attachments to said equipment
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	De Lage Landen
Financial Services,
Inc.
	 	PA SOS
	 	11/12/04
	 	2004120101706
	 	(1) Nissan CL50 CPL02-9P1267; (2) Nissan CL50
CPL02-9P1218; (3) Nissan CL50 CPL02-9P1219; (4) Nissan
CL50 CPL02-9P1220; (5) Nissan CL50 CPL02-9P1231; (6)
Nissan CL50 CPL02-9P1232; including all components,
additions, upgrades, attachments, accessions,
substitutions, replacement and proceeds of the
foregoing. This filing is for precautionary purposes in
connection with an equipment leasing transaction and is
not to be construed as indicating that the transactions
is other than a true lease.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	Prolift, Inc.
	 	PA SOS
	 	5/26/05
	 	2005052604939
	 	One new caterpillar model C4000 s/n AT9000908; Note,
unit is located at below address; 4921 I.D.A Park Drive,
Lockport, NY 14094
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	NMHG Financial
Services, Inc.
	 	PA SOS
	 	5/10/06
	 	2006051001487
	 	All of the equipment now or hereafter leased by Lessor
to Lessee, and all accessions, additions, replacements,
and substitutions thereto and therefore; and all
proceeds including insurance proceeds thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	Toyota Motor Credit
Corporation —
Assignor —
Jamestown
Industrial Trks.
	 	PA SOS
	 	4/18/07
	 	2007041802752
	 	One Toyota Forklift Model #8FGCU20; Serial #10585; It is
the intent of the parties that the transaction
referenced herein constitutes a true lease; The party
designated as the secured party is the owner of the
property described herein. The filing is made as a
precaution should the transaction be viewed as other
than a true lease.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	Toyota Motor Credit
Corporation —
Assignor —
Forklifts of St.
Louis, Inc.
	 	PA SOS
	 	4/18/07
	 	2007041802815
	 	Three New Toyota Forklifts; Model #8FGCU25; Serial #
11128, 11248, 1186; It is the intent of the parties that
the transaction referenced herein constitutes a true
lease; The party designated as the secured party is the
owner of the property described herein. The filing is
made as a precaution should the transaction be viewed as
other than a true lease.

13

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Polycom,
Inc.

	 	Toyota Motor Credit
Corporation —
Assignor —
Forklifts of St.
Louis, Inc.
	 	PA SOS
	 	1/10/08
	 	2008011101156
	 	One EZ-GO Model #800 Serial 2594511; It is the intent of
the parties that the transaction referenced herein
constitutes a true lease. The filing is made as a
precaution should the transaction be viewed as other
than a true lease.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	Toyota Motor Credit
Corporation —
Assignor —
Forklifts of St.
Louis, Inc.
	 	PA SOS
	 	2/28/08
	 	2008022803816
	 	Five New 2008 Toyota Forklift; Model #85GCU15; Serial #
12287, 12286, 12348, 12352, 12384; Four New Toyota
Forklift; Model # 85GCU15; Serial # 12385, 12386, 12387,
12388. It is the intent of the parties that the
transaction referenced herein constitutes a true lease;
The party designated as the secured party is the owner
of the property described herein. The filing is made as
a precaution should the transaction be viewed as other
than a true lease.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	Toyota Motor Credit
Corporation —
Assignor —
Forklifts of St.
Louis, Inc.
	 	PA SOS
	 	5/6/08
	 	2008050608068
	 	One New 2008 Toyota Forklift; Model # 8FGCU30; Serial #
11458; Two New 2008 Toyota Forklift; Model # 8FGCU25;
Serial # 17693, 17641. It is the intent of the parties
that the transaction referenced herein constitutes a
true lease; The party designated as the secured party is
the owner of the property described herein. The filing
is made as a precaution should the transaction be viewed
as other than a true lease.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	Louisiana State
Dept. of Labor
	 	Calcasieu Parish,
	 	LA 8/30/05
	 	2733208
	 	State tax lien in the amount of $522.23
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Polycom,
Inc.

	 	Louisiana State
Dept. of Labor
	 	Calcasieu Parish,
	 	LA 12/21/06
	 	2788321
	 	State tax lien in the amount of $865.91
	 
	 	 	 	 	 	 	 	 	 	 
	Polymer Extruded
Products, Inc.

	 	NMHG Financial
Services, Inc.
	 	NJ SOS
	 	11/1/02
	 	21289576
	 	All of the equipment now or hereafter leased by Lessor
to Lessee; and all accessories, additions, replacements,
and substitutions thereto and therefor and all proceeds
including insurance proceeds thereof; 4132871 NMHGFS
Cost Center 08A24
	 
	 	 	 	 	 	 	 	 	 	 
	Polymer Extruded
Products, Inc.

	 	NMHG Financial
Services, Inc.
	 	NJ SOS
	 	5/4/07
	 	 	 	Continuation of above filing

14

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Industries
Florida, Inc.

	 	US Bancorp
	 	DE SOS
	 	10/24/03
	 	32789660
	 	Lease # 164975 DI 551l DI 251; CF 2001. This filing is
for informational purposes only
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Industries
Florida, Inc.

	 	US Bancorp
	 	DE SOS
	 	4/9/08
	 	20081251204
	 	One BH350 31128751; One BH600 57BE03600; One MFX1450D
90066006; One MFX1450D 90026007; For information
purposes only
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Industries
Florida, Inc.

	 	Wells Fargo Bank,
N.A.
	 	DE SOS
	 	6/6/08
	 	20081935996
	 	One Used Clark Forklift C25C s/n C232L-0157-9592. The
equipment described and all equipment parts,
accessories, substitutions, additions, accessions and
replacements thereto and thereof, now or hereafter
installed in, affixed to, or used in conjunction
therewith and the proceeds thereof, together with all
installment payments, insurance proceeds, other proceeds
and payments due and to become due arising from or
relating to said equipment
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Plastics, 

LLC

	 	Citicorp Leasing
	 	DE SOS
	 	5/13/04
	 	41339292
	 	One New Mitsubishi Model #FG25KLPHO Serial # AF17C90128
— 188” Mast, 42” Forks and Sideshifter; One New Martin
Cab #126012

Additional Debtor — Spartech Corporation
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Plastics, 

LLC

	 	Key Equipment
Finance Inc.
	 	DE SOS
	 	5/11/05
	 	51450742
	 	Toshiba 550 w/ multiposition stapler including all
accessories, attachments, replacement parts and
substitutions thereof.

15

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Plastics, 

LLC

	 	Alpha Systems, Inc.
	 	DE SOS
	 	4/2/07
	 	20071211985
	 	The diamond plate roll is jointly owned by Alpha
Systems, Inc., (“Alpha Systems”) and Spartech
Corporation dba Spartech Plastics (“Spartech”). Spartech
will not extruded sheet or roll stock for anyone other
that Alpha Systems, in markets that are served by Alpha
Systems, without Alpha Systems prior written consent.
The coin pattern roll is not transacted, but is to be
owned solely by Alpha Systems. When the transaction for
the coin pattern roll is complete, Alpha Systems will
have exclusivity for the coin patter roll. Spartech
will not extruded sheet or roll stock from the coin
pattern roll for anyone other than Alpha Systems without
Alpha Systems prior written consent. The diamond plate
and coin pattern embossing rolls are described as
follows: One Embossed extrusion roller with diamond
plate pattern; One Embossed extrusion roller with coin
pattern.

Additional debtor — Spartech Corporation
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Plastics, 

LLC

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	6/26/07
	 	20072423787
	 	One New E-Z Go Truck Model # 835 Serial # 2541335
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Plastics, 

LLC

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	10/1/07
	 	20073692224
	 	Two Toyota Forklifts Model # 8FGCU32 Serial # 10905,
10928; Two Toyota Forklift Model # 7FBCU32, Serial #
62950, 62951; Four Hawker Model # 024-E0975; Serial #
EP107072037, EP107072038, EP107072039; EP107072040
It is the intent of the parties that the transaction
referenced herein constitutes a true lease. The secured
party is the owner of the property

16

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Plastics, 

LLC

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	10/26/07
	 	20074076955
	 	Five Toyota Forklift Model #7FBCU25 Serial # 70192,
70193, 70194, 70228, 70229; Fourteen Batteries; Model
#24-85F-17, Serial # PL106071373/374/375/376/377/378/379/380/381/471/472/473;
Six chargers Model # PH3M-24-680B Serial #
FG15962/63/64/65/66, FI18481. It is the intent of the
parties that the transaction referenced herein
constitutes a true lease. The secured party is the owner
of the property
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Plastics, 

LLC

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	10/29/07
	 	20074086723
	 	Five Toyota Forklift Model #7FBCU25 Serial # 70192,
70193, 70194, 70228, 70229; Fourteen Batteries; Model
#24-85F-17, Serial #
PL106071373/374/375/376/377/378/379/380/381/471/472/473;
Six chargers Model # PH3M-24-680B Serial #
FG15962/63/64/65/66, FI18481. It is the intent of the
parties that the transaction referenced herein
constitutes a true lease. The secured party is the owner
of the property
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Plastics, 

LLC

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	11/14/07
	 	20074334651
	 	One MTC Battery Handling System Model #BHS. It is the
intent of the parties that the transaction referenced
herein constitutes a true lease. The secured party is
the owner of the property
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Plastics, 

LLC

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	1/8/08
	 	20080081420
	 	One New 2007 Toyota Forklift Model #7FGCU45 Serial #
64577; One 49” 100F 209487/94 Model # 100F-FPS-B149
Serial # 826206-1R1. It is the intent of the parties
that the transaction referenced herein constitutes a
true lease. The secured party is the owner of the
property
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Plastics, 

LLC

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	4/1/08
	 	20081133881
	 	One New 2008 Forklift Model # 8FGCU25 Serial # 356977;
Five New 2008 Toyota Forklift Model # 8FGCU15 Serial #
12408, 12446, 12411, 12392, 12433. It is the intent of
the parties that the transaction referenced herein
constitutes a true lease. The secured party is the owner
of the property

17

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	SECURED	 	 	 	 	 	 	 	 
	DEBTOR	 	PARTY	 	JURIS	 	DATE	 	FILE NO.	 	COMMENTS
	Spartech Plastics, 

LLC

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	4/1/08
	 	20081138393
	 	Amendment to above filing to restate collateral: One New
2008 Forklift Model # 8FGCU25 Serial # 18324; Five New
2008 Toyota Forklift Model # 8FGCU15 Serial # 12408,
12446, 12411, 12392, 12433. It is the intent of the
parties that the transaction referenced herein
constitutes a true lease. The secured party is the owner
of the property. This filing is made as a precaution
should the transaction be view as other than a true
lease.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech Plastics, 

LLC

	 	Toyota Motor Credit
Corporation —
Assignor — Toyota
Material Handling
Midwest, Inc.
	 	DE SOS
	 	6/4/08
	 	20081999901
	 	Six New Toyota Forklifts Model #
8FGCSU20 Serial # 12634, 12651 Model # 8FGCU15 Serial # 12648, 12665 Model # 8FGCU30 Serial # 11896, 11907
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech FCD, LLC

	 	NMHG Financial
Services, Inc.
	 	DE SOS
	 	4/11/06
	 	61215250
	 	In Lieu of Continuation Filing — migrated filing: Filed
with MD SOS; File No. 0000000181250758; Filed 11/30/05;
Collateral: All of the equipment now or hereafter
leased by Lessor to Lessee; and all accessions,
additions, replacements, and substitutions thereto and
therefore; and all proceeds including insurance proceeds
thereof.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech SPD, LLC

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	11/11/06
	 	63937570
	 	Specific listing of forklifts and equipment; It is the
intent of the parties that the transaction referenced
therein constitutes a true lease. The party designated
as the secured party is the owner of the property. This
filing is made as a precaution should the transaction be
view as other than a true lease.
	 
	 	 	 	 	 	 	 	 	 	 
	Spartech SPD, LLC

	 	Toyota Motor Credit

Corporation
	 	DE SOS
	 	11/20/06
	 	64043543
	 	Amendment to above filing to restate collateral.
Specific listing of forklifts and equipment.

18

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