Document:

Exhibit
10.17

     

    EXECUTION
VERSION

     

    
      	 
      

    

    
      

      $110,000,000

    

     

    CREDIT
AGREEMENT

     

    among

     

    WEB.COM
GROUP, INC.,

     

    as
Borrower,

     

    The
Several Lenders from Time to Time Parties Hereto,

     

    WELLS
FARGO BANK, NATIONAL ASSOCIATION,

     

    as
Syndication Agent,

     

    and

     

    ROYAL
BANK OF CANADA,

    as
Administrative Agent

     

    Dated as
of July 30, 2010

     

    
      	 
      

    

    

    RBC
CAPITAL MARKETS

     

    and

     

    WELLS
FARGO SECURITIES, LLC,

     

    as Joint
Lead Arrangers and Joint Bookrunners

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    TABLE OF
CONTENTS

     

    
      
        
          
            
              	 
      	 
      	 	
                      Page

                    
	 	 	 	 
	
                      SECTION
      1.

                    	
                      DEFINITIONS

                    	 	
                      1

                    
	 
      	 
      	 	 
      
	 
      	
                      Defined
      Terms

                    	 	
                      1

                    
	 
      	
                      Other
      Definitional Provisions

                    	 	
                      22

                    
	 
      	 
      	 	 
      
	
                      SECTION
      2.

                    	
                      AMOUNT
      AND TERMS OF COMMITMENTS

                    	 	
                      23

                    
	 
      	 
      	 	 
      
	 
      	
                      Term
      Commitments

                    	 	
                      23

                    
	 
      	
                      Procedure
      for Term Loan Borrowing

                    	 	
                      23

                    
	 
      	
                      Repayment
      of Term Loans

                    	 	
                      23

                    
	 
      	
                      Revolving
      Commitments

                    	 	
                      24

                    
	 
      	
                      Procedure
      for Revolving Loan Borrowing

                    	 	
                      25

                    
	 
      	
                      Swingline
      Commitment

                    	 	
                      25

                    
	 
      	
                      Procedure
      for Swingline Borrowing; Refunding of Swingline Loans

                    	 	
                      26

                    
	 
      	
                      Commitment
      Fees, etc

                    	 	
                      27

                    
	 
      	
                      Termination
      or Reduction of Revolving Commitments

                    	 	
                      27

                    
	 
      	
                      Optional
      Prepayments

                    	 	
                      27

                    
	 
      	
                      Mandatory
      Prepayments and Commitment Reductions

                    	 	
                      28

                    
	 
      	
                      Conversion
      and Continuation Options

                    	 	
                      29

                    
	 
      	
                      Limitations
      on Eurodollar Tranches

                    	 	
                      29

                    
	 
      	
                      Interest
      Rates and Payment Dates

                    	 	
                      29

                    
	 
      	
                      Computation
      of Interest and Fees

                    	 	
                      30

                    
	 
      	
                      Inability
      to Determine Interest Rate

                    	 	
                      30

                    
	 
      	
                      Payments
      Generally; Pro Rata Treatment; Sharing of Set-offs

                    	 	
                      30

                    
	 
      	
                      Requirements
      of Law

                    	 	
                      32

                    
	 
      	
                      Taxes

                    	 	
                      33

                    
	 
      	
                      Indemnity

                    	 	
                      36

                    
	 
      	
                      Change
      of Lending Office

                    	 	
                      36

                    
	 
      	
                      Mitigation
      Obligations; Replacement of Lenders

                    	 	
                      37

                    
	 
      	
                      Defaulting
      Lenders

                    	 	
                      37

                    
	 
      	 
      	 	 
      
	
                      SECTION
      3.

                    	
                      LETTERS
      OF CREDIT

                    	 	
                      39

                    
	 
      	 
      	 	 
      
	 
      	
                      L/C
      Commitment

                    	 	
                      39

                    
	 
      	
                      Procedure
      for Issuance and Amendment of Letter of Credit

                    	 	
                      39

                    
	 
      	
                      Fees
      and Other Charges

                    	 	
                      40

                    
	 
      	
                      L/C
      Participations

                    	 	
                      40

                    
	 
      	
                      Reimbursement
      Obligation of the Borrower

                    	 	
                      41

                    
	 
      	
                      Obligations
      Absolute

                    	 	
                      41

                    
	 
      	
                      Letter
      of Credit Payments

                    	 	
                      42

                    
	 
      	
                      Applications

                    	 	
                      42

                    
	 
      	
                      Letters
      of Credit Issued for Subsidiaries

                    	 	
                      42

                    
	 
      	 
      	 	 
      
	
                      SECTION
      4.

                    	
                      REPRESENTATIONS
      AND WARRANTIES

                    	 	
                      42

                    
	 
      	 
      	 	 
      
	 
      	
                      Financial
      Condition

                    	 	
                      42

                    
	 
      	
                      No
      Change

                    	 	
                      43

                    

            

          

        

      

    

     

    
      
        
           

        

        
          i

          
            

          

        

        
           

        

      

    

     

    
      
        
          
            	 
      	
                    Existence;
      Compliance with Law

                  	 	
                    43

                  
	 
      	
                    Power;
      Authorization; Enforceable Obligations

                  	 	
                    43

                  
	 
      	
                    No
      Legal Bar

                  	 	
                    44

                  
	 
      	
                    Litigation

                  	 	
                    44

                  
	 
      	
                    No
      Default

                  	 	
                    44

                  
	 
      	
                    Ownership
      of Property; Liens

                  	 	
                    44

                  
	 
      	
                    Intellectual
      Property

                  	 	
                    44

                  
	 
      	
                    Taxes

                  	 	
                    44

                  
	 
      	
                    Federal
      Regulations

                  	 	
                    44

                  
	 
      	
                    Labor
      Matters

                  	 	
                    45

                  
	 
      	
                    ERISA

                  	 	
                    45

                  
	 
      	
                    Investment
      Company Act; Other Regulations

                  	 	
                    45

                  
	 
      	
                    Subsidiaries

                  	 	
                    45

                  
	 
      	
                    Use
      of Proceeds

                  	 	
                    45

                  
	 
      	
                    Environmental
      Matters

                  	 	
                    46

                  
	 
      	
                    Accuracy
      of Information, etc

                  	 	
                    46

                  
	 
      	
                    Security
      Documents

                  	 	
                    47

                  
	 
      	
                    Solvency

                  	 	
                    47

                  
	 
      	
                    Senior
      Indebtedness

                  	 	
                    47

                  
	 
      	
                    Certain
      Documents

                  	 	
                    47

                  
	 
      	 
      	 	 
      
	
                    SECTION
      5.

                  	
                    CONDITIONS
      PRECEDENT

                  	 	
                    47

                  
	 
      	 
      	 	 
      
	 
      	
                    Conditions
      to Initial Extension of Credit

                  	 	
                    47

                  
	 
      	
                    Conditions
      to Each Extension of Credit

                  	 	
                    49

                  
	 
      	 
      	 	 
      
	
                    SECTION
      6.

                  	
                    AFFIRMATIVE
      COVENANTS

                  	 	
                    50

                  
	 
      	 
      	 	 
      
	 
      	
                    Financial
      Statements

                  	 	
                    50

                  
	 
      	
                    Certificates;
      Other Information

                  	 	
                    50

                  
	 
      	
                    Payment
      of Obligations

                  	 	
                    52

                  
	 
      	
                    Maintenance
      of Existence; Compliance

                  	 	
                    52

                  
	 
      	
                    Maintenance
      of Property; Insurance

                  	 	
                    53

                  
	 
      	
                    Inspection
      of Property; Books and Records; Discussions

                  	 	
                    53

                  
	 
      	
                    Notices

                  	 	
                    53

                  
	 
      	
                    Environmental
      Laws

                  	 	
                    53

                  
	 
      	
                    Interest
      Rate Protection

                  	 	
                    54

                  
	 
      	
                    Further
      Assurances; Additional Collateral, etc

                  	 	
                    54

                  
	 
      	
                    Letters
      of Credit

                  	 	
                    55

                  
	 
      	
                    Post-Closing
      Covenants

                  	 	
                    55

                  
	 
      	 
      	 	 
      
	
                    SECTION
      7.

                  	
                    NEGATIVE
      COVENANTS

                  	 	
                    56

                  
	 
      	 
      	 	 
      
	 
      	
                    Financial
      Condition Covenants

                  	 	
                    56

                  
	 
      	
                    Indebtedness

                  	 	
                    57

                  
	 
      	
                    Liens

                  	 	
                    59

                  
	 
      	
                    Fundamental
      Changes

                  	 	
                    61

                  
	 
      	
                    Disposition
      of Property

                  	 	
                    61

                  
	 
      	
                    Restricted
      Payments

                  	 	
                    62

                  
	 
      	
                    Investments

                  	 	
                    62

                  
	 
      	
                    Optional
      Payments and Modifications of Certain Debt Instruments

                  	 	
                    64

                  

          

        

      

    

     

    
      
        
           

        

        
          ii

          
            

          

        

        
           

        

      

    

    

    
      
        
          
            
              	 
      	
                      Transactions
      with Affiliates

                    	 	
                      64

                    
	 
      	
                      Sales
      and Leasebacks

                    	 	
                      65

                    
	 
      	
                      Swap
      Agreements

                    	 	
                      65

                    
	 
      	
                      Changes
      in Fiscal Periods

                    	 	
                      65

                    
	 
      	
                      Negative
      Pledge Clauses

                    	 	
                      65

                    
	 
      	
                      Clauses
      Restricting Subsidiary Distributions

                    	 	
                      65

                    
	 
      	
                      Lines
      of Business

                    	 	
                      66

                    
	 
      	
                      Amendments
      to Acquisition Documents

                    	 	
                      66

                    
	 
      	 
      	 	 
      
	
                      SECTION
      8.

                    	
                      EVENTS
      OF DEFAULT

                    	 	
                      66

                    
	 
      	 
      	 	 
      
	 
      	
                      Events
      of Default

                    	 	
                      66

                    
	 
      	
                      Application
      of Proceeds

                    	 	
                      68

                    
	 
      	 
      	 	 
      
	
                      SECTION
      9.

                    	
                      THE
      AGENTS

                    	 	
                      69

                    
	 
      	 
      	 	 
      
	 
      	
                      Appointment

                    	 	
                      69

                    
	 
      	
                      Delegation
      of Duties

                    	 	
                      69

                    
	 
      	
                      Exculpatory
      Provisions

                    	 	
                      70

                    
	 
      	
                      Reliance
      by Administrative Agent

                    	 	
                      70

                    
	 
      	
                      Notice
      of Default

                    	 	
                      70

                    
	 
      	
                      Non-Reliance
      on Agents and Other Lenders

                    	 	
                      71

                    
	 
      	
                      Indemnification

                    	 	
                      71

                    
	 
      	
                      Agent
      in Its Individual Capacity

                    	 	
                      71

                    
	 
      	
                      Successor
      Administrative Agent

                    	 	
                      72

                    
	 
      	
                      Syndication
      Agent

                    	 	
                      72

                    
	 
      	 
      	 	 
      
	
                      SECTION
      10.

                    	
                      MISCELLANEOUS

                    	 	
                      72

                    
	 
      	 
      	 	 
      
	 
      	
                      Amendments
      and Waivers

                    	 	
                      72

                    
	 
      	
                      Notices

                    	 	
                      74

                    
	 
      	
                      No
      Waiver; Cumulative Remedies

                    	 	
                      74

                    
	 
      	
                      Survival
      of Representations and Warranties

                    	 	
                      75

                    
	 
      	
                      Payment
      of Expenses and Taxes

                    	 	
                      75

                    
	 
      	
                      Successors
      and Assigns; Participations and Assignments

                    	 	
                      76

                    
	 
      	
                      Adjustments;
      Set-off

                    	 	
                      79

                    
	 
      	
                      Counterparts

                    	 	
                      79

                    
	 
      	
                      Severability

                    	 	
                      80

                    
	 
      	
                      Integration

                    	 	
                      80

                    
	 
      	
                      GOVERNING
      LAW

                    	 	
                      80

                    
	 
      	
                      Submission
      To Jurisdiction; Waivers

                    	 	
                      80

                    
	 
      	
                      Acknowledgements

                    	 	
                      80

                    
	 
      	
                      Releases
      of Guarantees and Liens

                    	 	
                      81

                    
	 
      	
                      Confidentiality

                    	 	
                      81

                    
	 
      	
                      WAIVERS
      OF JURY TRIAL

                    	 	
                      82

                    
	 
      	
                      USA
      Patriot Act

                    	 	
                      82

                    

            

          

        

      

    

    

    
      
        
           

        

        
          iii

          
            

          

        

        
           

        

      

    

     

    SCHEDULES:

     

    
      	
              1.1A

            	
              Commitments

            

    

    
      	
              1.1B

            	
              Existing
      Letters of Credit

            

    

    
      	
              1.1C

            	
              Sources
      and Uses

            

    

    
      	
              1.1D

            	
              Excluded
      Foreign Subsidiaries

            

    

    
      	
              3.1

            	
              Subsidiaries

            

    

    
      	
              4.1

            	
              Liabilities
      and Dispositions

            

    

    
      	
              4.15

            	
              Subsidiaries

            

    

    
      	
              4.19

            	
              UCC
      Filing Jurisdictions; Intellectual Property
  Filings

            

    

    
      	
              7.3(f)

            	
              Existing
      Liens

            

    

    

    EXHIBITS:

     

    
      	
              A

            	
              Form
      of Guarantee and Collateral
Agreement

            

    

    
      	
              B

            	
              Form
      of Compliance Certificate

            

    

    
      	
              C-1

            	
              Form
      of Closing Certificate for Borrower

            

    

    
      	
              C-2

            	
              Form
      of Closing Certificate for Loan
Parties

            

    

    
      	
              D

            	
              Form
      of Assignment and Assumption

            

    

    
      	
              E-1

            	
              Form
      of Exemption Certificate

            

    

    
      	
              E-2

            	
              Form
      of Exemption Certificate

            

    

    
      	
              E-3

            	
              Form
      of Exemption Certificate

            

    

    
      	
              E-4

            	
              Form
      of Exemption Certificate

            

    

    
      	
              F

            	
              Form
      of Borrowing Notice

            

    

    
      	
              G

            	
              Form
      of Loan Conversion and Continuation
Notice

            

    

    
      	
              H

            	
              L/C
      Application

            

    

    
      	
              I-1

            	
              Form
      of Term Loan Note

            

    

    
      	
              I-2

            	
              Form
      of Revolving Loan Note

            

    

    
      
         

      

      
        iv

        
          

        

      

      
         

      

    

    CREDIT
AGREEMENT (this “Agreement”), dated as
of July 30, 2010, among WEB.COM GROUP, INC., a Delaware corporation (the “Borrower”), the
several banks and other financial institutions or entities from time to time
parties to this Agreement (the “Lenders”), WELLS
FARGO BANK, NATIONAL ASSOCIATION, as syndication agent (in such capacity, the
“Syndication
Agent”), and ROYAL BANK OF CANADA, as administrative agent.

     

    The
parties hereto hereby agree as follows:

     

    SECTION
1.     DEFINITIONS

     

    1.1. 
     Defined
Terms. 
As used in this Agreement, the terms listed in this Section 1.1 shall have the
respective meanings set forth in this Section 1.1.

     

    “2010 Projection
Model”:  the projection model delivered to the Lenders before
the Closing Date detailing marketing expenses to be incurred for the fiscal
years 2010 through 2015.

     

    “ABR”:  for
any day, a rate per annum (rounded upwards, if necessary, to the next 1/16 of
1%) equal to the greatest of (a) the Prime Rate in effect on such day, (b) the
Federal Funds Rate in effect on such day plus 1⁄2 of 1% and (c)
the Eurodollar Rate that would be calculated as of such day (or, if such day is
not a Business Day, as of the next preceding Business Day) in respect of a
proposed Eurodollar Loan with a one-month Interest Period plus 1.0% (provided, that for
the avoidance of doubt, the Eurodollar Rate for any day shall be based on the
rate appearing on the Libor Reuters Screen LIBOR01 Page (or on any successor or
substitute page of such page) at approximately 11:00 a.m. London time on such
day).  Any change in the ABR due to a change in the Prime Rate, the Federal
Funds Rate or such Eurodollar Rate shall be effective as of the opening of
business on the day of such change in the Prime Rate, the Federal Funds Rate or
such Eurodollar Rate, respectively.

     

    “ABR
Loans”:  Loans the rate of interest applicable to which is
based upon the ABR.

     

    “Acquisition”:  the
acquisition by Web.com Group, Inc. of all of the outstanding Capital Stock of
Register.com (Cayman) Limited Partnership from the existing holders of such
capital stock, pursuant to the Acquisition Agreement.

     

    “Acquisition
Agreement”:  the Purchase Agreement, dated as of June 17, 2010,
among the Borrower, Register.com (Cayman) Limited Partnership, Register.com GP
(Cayman) Ltd. and the sellers named therein.

     

    “Acquisition
Documentation”:  collectively, the Acquisition Agreement and
all schedules, exhibits and annexes thereto and all side letters and agreements
affecting the terms thereof or entered into in connection
therewith.

     

    “Acquisition
Expenses”: any fees or expenses incurred or paid by the Borrower or any
of its Subsidiaries in connection with the Acquisition, this Agreement and the
other Loan Documents and the transactions contemplated hereby and
thereby.

     

    “Adjustment
Date”:  as defined in the Applicable Pricing Grid.

     

    “Administrative
Agent”:  Royal Bank of Canada, together with its affiliates, as
the arranger of the Commitments and as the administrative agent for the Lenders
under this Agreement and the other Loan Documents, together with any of its
successors.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    “Affiliate”:  as
to any Person, any other Person that, directly or indirectly, is in control of,
is controlled by, or is under common control with, such Person.  For
purposes of determining the Affiliates of the Borrower, “control” of a Person
means the power, directly or indirectly, either to direct or cause the direction
of the management and policies of such Person, whether by contract or
otherwise.

     

    “Agent
Indemnitee”:  as defined in Section 9.7.

     

    “Agents”:  the
collective reference to the Syndication Agent and the Administrative
Agent.

     

    “Aggregate
Exposure”:  with respect to any Lender at any time, an amount
equal to (a) until the Closing Date, the aggregate amount of such Lender’s
Commitments at such time and (b) thereafter, the sum of (i) the aggregate then
unpaid principal amount of such Lender’s Term Loan and (ii) the amount of such
Lender’s Revolving Commitment then in effect or, if the Revolving Commitments
have been terminated, the amount of such Lender’s Revolving Extensions of Credit
then outstanding.

     

    “Aggregate Exposure
Percentage”:  with respect to any Lender, the percentage of the
total Commitments represented by such Lender’s Commitment; provided, that in the
case of Section 2.23 when a Defaulting Lender shall exist, “Aggregate Exposure
Percentage” shall mean the percentage of the total Commitments (disregarding any
Defaulting Lender’s Commitment) represented by such Lender’s Commitment. 
If the Commitments have terminated or expired, the Aggregate Exposure
Percentages shall be determined based upon the Commitments most recently in
effect, giving effect to any assignments and to any Lender’s status as a
Defaulting Lender at the time of determination.

     

    “Agreement”:  as
defined in the preamble hereto.

     

    “Applicable
Margin”:  for each Type of Loan, the rate per annum set forth
under the relevant column heading below:

     

    
      
        
          
            
              
                
                  
                    
                      	 
      	 	
                              ABR
      Loans

                            	 	 	
                              Eurodollar
      Loans

                            	 
	 	 	 	 	 	 	 	 	 
	
                              Revolving
      Loans and

                              Swingline
      Loans

                            	 	 	3.50	%	 	 	4.50	%
	 	 	 	 	 	 	 	 	 
	
                              Term
      Loans

                            	 	 	3.50	%	 	 	4.50	%

                    

                  

                

              

            

          

        

      

    

     

    ; provided, that on and
after the first Adjustment Date occurring after the completion of the first full
fiscal quarter of the Borrower after the Closing Date, the Applicable Margin
with respect to Revolving Loans, Swingline Loans and Term Loans will be
determined pursuant to the Applicable Pricing Grid.

    “Applicable Pricing
Grid”:  the table set forth below:

     

    
      
        
          
            	
                    Consolidated

                    Leverage Ratio

                  	 	
                    Applicable Margin for

                    Eurodollar Loans

                  	 	 	
                    Applicable Margin for

                    ABR Loans

                  	 
	
                    Greater
      than 2.25:1.00

                  	 	 	4.50	%	 	 	3.50	%
	
                    Less
      than or equal to 2.25:1.00 but greater than 1.75:1.00

                  	 	 	4.25	%	 	 	3.25	%
	
                    Less
      than or equal to 1.75:1.00

                  	 	 	4.00	%	 	 	3.00	%

          

        

      

    

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    For the purposes of the Applicable
Pricing Grid, changes in the Applicable Margin resulting from changes in the
Consolidated Leverage Ratio shall become effective on the date (the “Adjustment Date”)
that is three Business Days after the date on which financial statements are
delivered to the Lenders pursuant to Section 6.1 and shall remain in effect
until the next change to be effected pursuant to this paragraph.  If any
financial statements referred to above are not delivered within the time periods
specified in Section 6.1, then, until the date that is three Business Days after
the date on which such financial statements are delivered, the highest rate set
forth in each column of the Applicable Pricing Grid shall apply.  In
addition, at all times while an Event of Default shall have occurred and be
continuing, the highest rate set forth in each column of the Applicable Pricing
Grid shall apply.  Each determination of the Consolidated Leverage Ratio
for purposes of the Applicable Pricing Grid shall be made in a manner consistent
with the determination thereof pursuant to Section 7.1.

     

    “Application”:  an
application, in the form of Exhibit H, requesting the Issuing Lender to open a
Letter of Credit.

     

    “Approved
Fund”:  as defined in Section 10.6(b).

     

    “Asset
Sale”:  any Disposition of property or series of related
Dispositions of property (excluding any such Disposition permitted by clause
(a), (b), (c), (d), (e), (f), (g) or (h) of Section 7.5) that yields gross
proceeds to the Borrower or any of its Subsidiaries (valued at the initial
principal amount thereof in the case of non-cash proceeds consisting of notes or
other debt securities and valued at fair market value in the case of other
non-cash proceeds) in excess of $1,000,000.

     

    “Assignee”:  as
defined in Section 10.6(b).

     

    “Assignment and
Assumption”:  an Assignment and Assumption, substantially in
the form of Exhibit D.

     

    “Available Revolving
Commitment”:  as to any Revolving Lender at any time, an amount
equal to the excess, if any, of (a) such Lender’s Revolving Commitment then in
effect over (b)
such Lender’s Revolving Extensions of Credit then outstanding; provided, that in
calculating any Lender’s Revolving Extensions of Credit for the purpose of
determining such Lender’s Available Revolving Commitment pursuant to Section
2.8(a), the aggregate principal amount of Swingline Loans then outstanding shall
be deemed to be zero.

     

    “Bankruptcy Event”:
with respect to any Person, such Person becomes the subject of a bankruptcy or
insolvency proceeding, or has had a receiver, conservator, trustee,
administrator, custodian, assignee for the benefit of creditors or similar
Person charged with the reorganization or liquidation of its business appointed
for it, or, in the good faith determination of the Administrative Agent, has
taken any action in furtherance of, or indicating its consent to, approval of,
or acquiescence in, any such proceeding or appointment; provided, that a
Bankruptcy Event shall not result solely by virtue of any ownership interest, or
the acquisition of any ownership interest, in such Person by a Governmental
Authority or instrumentality thereof; provided further, that such
ownership interest does not result in or provide such Person with immunity from
the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Person (or such
Governmental Authority or instrumentality) to reject, repudiate, disavow or
disaffirm any contracts or agreements made by such Person.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    “Benefitted
Lender”:  as defined in Section 10.7(a).

     

    “Board”:  the
Board of Governors of the Federal Reserve System of the United States (or any
successor).

     

    “Borrower”:  as
defined in the preamble hereto.

     

    “Borrowing
Date”:  any Business Day specified by the Borrower as a date on
which the Borrower requests the relevant Lenders to make Loans
hereunder.

     

    “Business”:  as
defined in Section 4.17(a)(v).

     

    “Business
Day”:  a day other than a Saturday, Sunday or other day on
which commercial banks in New York City are authorized or required by law to
close; provided, that with
respect to notices and determinations in connection with, and payments of
principal and interest on, Eurodollar Loans, such day is also a day for trading
by and between banks in Dollar deposits in the interbank eurodollar
market.

     

    “Canadian Government
Loan”: the principal amount of the Indebtedness of Register.com, Inc.
under the Promissory Note, dated as of June 9, 2008, issued in favor of Her
Majesty the Queen in Right of the Province of Nova Scotia pursuant to the Letter
of Offer, dated March 27, 2008, from Nova Scotia Economic Development to
Register.com, Inc.

     

    “Capital
Expenditures”:  for any period, with respect to any Person, the
aggregate of all expenditures by such Person and its Subsidiaries for the
acquisition or leasing (pursuant to a capital lease) of fixed or capital assets
or additions to equipment (including replacements, capitalized repairs and
improvements during such period) that should be capitalized under GAAP on a
consolidated balance sheet of such Person and its Subsidiaries.

     

    “Capital Lease
Obligations”:  as to any Person, the obligations of such Person
to pay rent or other amounts under any lease of (or other arrangement conveying
the right to use) real or personal property, or a combination thereof, which
obligations are required to be classified and accounted for as capital leases on
a balance sheet of such Person under GAAP and, for the purposes of this
Agreement, the amount of such obligations at any time shall be the capitalized
amount thereof at such time determined in accordance with GAAP.

     

     “Capital
Stock”:  with respect to any Person, any and all shares,
interests, participations or other equivalents (however designated) of capital
stock of a corporation, any and all equivalent ownership interests in a Person
(other than a corporation), any and all warrants, rights or options to purchase
any of the foregoing and any and all securities convertible into or exchangeable
for shares of the foregoing, whether voting or nonvoting, and whether or not
such shares, warrants, options, rights or others  interests are
outstanding on any date of determination.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    “Cash
Equivalents”:  (a) marketable direct obligations issued by, or
unconditionally guaranteed by, the United States Government or issued by any
agency thereof and backed by the full faith and credit of the United States, in
each case maturing within one year from the date of acquisition; (b)
certificates of deposit, time deposits, eurodollar time deposits or overnight
bank deposits having maturities of one year or less from the date of acquisition
issued by any Lender or by any commercial bank organized under the laws of the
United States or any state thereof having combined capital and surplus of not
less than $500,000,000; (c) commercial paper of an issuer rated at least A-1 by
Standard & Poor’s Ratings Services (“S&P”) or P-1 by
Moody’s Investors Service, Inc. (“Moody’s”), or
carrying an equivalent rating by a nationally recognized rating agency, if both
of the two named rating agencies cease publishing ratings of commercial paper
issuers generally, and maturing within 270 days from the date of acquisition;
(d) repurchase obligations of any Lender or of any commercial bank satisfying
the requirements of clause (b) of this definition, having a term of not more
than 30 days, with respect to securities issued or fully guaranteed or insured
by the United States government; (e) securities with maturities of one year or
less from the date of acquisition issued or fully guaranteed by any state,
commonwealth or territory of the United States, by any political subdivision or
taxing authority of any such state, commonwealth or territory or by any foreign
government, the securities of which state, commonwealth, territory, political
subdivision, taxing authority or foreign government (as the case may be) are
rated at least A by S&P or A by Moody’s; (f) securities with maturities of
six months or less from the date of acquisition backed by standby letters of
credit issued by any Lender or any commercial bank satisfying the requirements
of clause (b) of this definition; (g) money market mutual or similar funds that
invest exclusively in assets satisfying the requirements of clauses (a) through
(f) of this definition; or (h) money market funds that (i) comply with the
criteria set forth in SEC Rule 2a-7 under the Investment Company Act of 1940, as
amended, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have
portfolio assets of at least $5,000,000,000.

     

    “Change in Control”:
(a) the acquisition of ownership, directly or indirectly, beneficially or of
record, by any Person or group (within the meaning of the Exchange Act and the
rules of the SEC thereunder as in effect on the date hereof), of shares
representing more than 35% of the aggregate ordinary voting power represented by
the issued and outstanding Capital Stock of the Borrower; or (b) occupation of a
majority of the seats (other than vacant seats) on the board of directors of the
Borrower by Persons who were neither (i) nominated by the board of directors of
the Borrower nor (ii) appointed by directors so nominated.

     

    “Class”:  when
used in reference to (a) any Loan, refers to whether such Loan is a
Revolving Loan, Term Loan or Swingline Loan, (b) any Commitment, refers to
whether such Commitment is a Revolving Commitment or Term Commitment and
(c) any Lender, refers to whether such Lender has a Loan or Commitment with
respect to a particular Class of Loans or Commitments.

     

    “Closing
Date”:  the date on which the conditions precedent set forth in
Section 5.1 shall have been satisfied, which date is July 30, 2010.

     

    “Code”:  the
Internal Revenue Code of 1986, as amended from time to time.

     

    “Collateral”:  all
property of the Loan Parties, now owned or hereafter acquired, upon which a Lien
is purported to be created by any Security Document.

     

    “Commitment”:  as
to any Lender, the sum of the Term Commitment and the Revolving Commitment of
such Lender.

     

    “Commitment Fee
Rate”:  0.50% per annum.

     

    “Commonly Controlled
Entity”:  an entity, whether or not incorporated, that is under
common control with a Borrower within the meaning of Section 4001 of ERISA
or is part of a group that includes a Borrower and that is treated as a single
employer under Section 414 of the Code.

     

    “Compliance
Certificate”:  a certificate duly executed by a Responsible
Officer substantially in the form of Exhibit B.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    “Conduit
Lender”:  any special purpose corporation organized and
administered by any Lender for the purpose of making Loans otherwise required to
be made by such Lender and designated by such Lender pursuant to an Assignment
and Assumption; provided, that the
designation by any Lender of a Conduit Lender shall not relieve the designating
Lender of any of its obligations to fund a Loan under this Agreement if, for any
reason, its Conduit Lender fails to fund any such Loan, and the designating
Lender (and not the Conduit Lender) shall have the sole right and responsibility
to deliver all consents and waivers required or requested under this Agreement
with respect to its Conduit Lender; provided further, that no
Conduit Lender shall (a) be entitled to receive any greater amount pursuant to
Section 2.18, 2.19, 2.20 or 10.5 than the designating Lender would have been
entitled to receive in respect of the extensions of credit made by such Conduit
Lender or (b) be deemed to have any Commitment.

     

     “Consolidated Current
Assets”:  at any date, all amounts (other than cash and Cash
Equivalents) that would, in conformity with GAAP, be set forth opposite the
caption “total current assets” (or any like caption) on a consolidated balance
sheet of the Borrower and its Subsidiaries at such date.

     

    “Consolidated Current
Liabilities”:  at any date, all amounts that would, in
conformity with GAAP, be set forth opposite the caption “total current
liabilities” (or any like caption) on a consolidated balance sheet of the
Borrower and its Subsidiaries at such date, but excluding (a) the current
portion of any Funded Debt of the Borrower and its Subsidiaries and (b) without
duplication of clause (a) above, all Indebtedness consisting of Revolving Loans
or Swingline Loans to the extent otherwise included therein.

     

    “Consolidated
EBITDA”:  for any period, Consolidated Net Income for such
period plus,
without duplication and to the extent reflected as a charge in the statement of
such Consolidated Net Income for such period, the sum of (a) income tax expense,
(b) interest expense, amortization or writeoff of debt discount and debt
issuance costs and commissions, discounts and other fees and charges associated
with Indebtedness (including the Loans), (c) depreciation and amortization
expense, (d) amortization of intangibles (including, but not limited to,
goodwill) and organization costs, (e) extraordinary losses reducing Consolidated
Net Income during any such period, (f) any cash restructuring, integration,
transition, severance, facilities discontinuation or transaction costs, fees or
expenses reducing Consolidated Net Income during any such period ending (x) on
or prior to December 31, 2011 in an aggregate amount not to exceed $6,000,000 or
(y) subsequent to December 31, 2011 in an aggregate amount not to exceed
$5,000,000 in any fiscal year, (g) any expenses or losses resulting from the
fair market value adjustment to acquired deferred revenue under purchase
accounting rules reducing
Consolidated Net Income during any such period, (h) any expenses resulting from
the related fair market value adjustment to acquired prepaid registry fees under
purchase accounting reducing Consolidated Net Income for any such period, (i)
non-cash stock-based compensation expenses, (j) other non-cash expenses or
losses reducing Consolidated Net Income during any such period (excluding any
such losses or expenses that represent an accrual or reserve for a cash
expenditure for a future period), (k) Acquisition Expenses in the case of any
period that includes a period ending prior to December 31, 2010, or, solely with
respect to audit and valuation expenses which constitute Acquisition Expenses,
any period that includes a period ending on or prior to December 31, 2011 or (l)
solely for purposes of calculating Consolidated EBITDA for any Reference Period
pursuant to any determination of compliance with the covenants set forth in
Section 7.1, marketing program expenditures to the extent such expenditures (A)
exceed the projected amount of such expenses as reflected in the 2010 Projection
Model for such period, (B) are identified in writing to the Administrative Agent
in advance of being made, (C) reduce Consolidated Net Income for any such period
and (D) do not exceed $3,000,000 in any fiscal year, minus, (a) to the
extent included in the statement of such Consolidated Net Income for such
period, the sum of (i) interest income, (ii) any extraordinary income or gains
(including, whether or not otherwise includable as a separate item in the
statement of such Consolidated Net Income for such period, non-cash gains on the
sales of assets outside the ordinary course of business, but excluding any
non-cash gain to the extent it represents the reversal of an accrual or reserve
for a potential cash item in any prior period), (iii) income tax credits (to the
extent not netted from income tax expense) and (iv) any other non-cash income
and (b) any cash payments made during such period in respect of items described
in clause (j) above subsequent to the fiscal quarter in which the relevant
non-cash expenses or losses were reflected in Consolidated Net Income to the
extent such amounts were added back in any prior fiscal quarter, all as
determined on a consolidated basis.  For the purposes of calculating
Consolidated EBITDA for any period of four consecutive fiscal quarters (each, a
“Reference
Period”) pursuant to any determination of the Consolidated Leverage
Ratio, (i) if at any time during such Reference Period the Borrower or any
Subsidiary shall have made any Material Disposition, the Consolidated EBITDA for
such Reference Period shall be reduced by an amount equal to the Consolidated
EBITDA (if positive) attributable to the property that is the subject of such
Material Disposition for such Reference Period or increased by an amount equal
to the Consolidated EBITDA (if negative) attributable thereto for such Reference
Period and (ii) if during such Reference Period the Borrower or any Subsidiary
shall have made a Material Acquisition, Consolidated EBITDA for such Reference
Period shall be calculated after giving pro forma effect thereto
as if such Material Acquisition occurred on the first day of such Reference
Period.  As used in this definition, “Material Acquisition” means any
Permitted Acquisition made pursuant to Section 7.7(h) that involves the payment
of consideration by the Borrower and its Subsidiaries in excess of $10,000,000;
and “Material Disposition” means any Disposition of property or series of
related Dispositions of property to any Person that is not a Loan Party or a
Subsidiary that yields gross proceeds to the Borrower or any of its Subsidiaries
in excess of $3,000,000.  For purposes of determining the Consolidated
Leverage Ratio and the Consolidated Fixed Charge Coverage Ratio, Consolidated
EBITDA for the fiscal quarters ended September 30, 2010, June 30, 2010, March
31, 2010, and December 31, 2009 shall be $10,200,000, $10,000,000, $8,500,000,
and $11,400,000, respectively.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    “Consolidated Fixed Charge
Coverage Ratio”:  for any period, the ratio of (a) Consolidated
EBITDA for such period less the aggregate amount actually paid by the Borrower
and its Subsidiaries during such period on account of Capital Expenditures
(excluding the principal amount of Indebtedness incurred in connection with such
expenditures but, for the avoidance of doubt, including any Revolving Loans
incurred in connection with such expenditures) to (b) Consolidated Fixed Charges
for such period.

     

    “Consolidated Fixed
Charges”:  for any period, the sum (without duplication) of (a)
Consolidated Interest Expense for such period and (b) scheduled payments made
during such period on account of principal of Indebtedness of the Borrower or
any of its Subsidiaries (including scheduled principal payments in respect of
the Term Loans), but excluding any such payments to the extent refinanced
through the incurrence of additional Indebtedness permitted under Section
7.2.

     

    “Consolidated Interest
Expense”:  for any period, total cash interest expense
(including that attributable to Capital Lease Obligations) of the Borrower and
its Subsidiaries for such period with respect to all outstanding Indebtedness of
the Borrower and its Subsidiaries (including all commissions, discounts and
other fees and charges owed with respect to letters of credit and bankers’
acceptance financing and net costs under Swap Agreements in respect of interest
rates to the extent such net costs are allocable to such period in accordance
with GAAP).

     

    “Consolidated Leverage
Ratio”:  as at the last day of any period, the ratio of (a)
Consolidated Total Debt on such day to (b) Consolidated EBITDA for such
period.

     

    “Consolidated Net
Income”:  for any period, the consolidated net income (or loss)
of the Borrower and its Subsidiaries, determined on a consolidated basis in
accordance with GAAP; provided, that there
shall be excluded (a) the income (or deficit) of any Person accrued prior to the
date it becomes a Subsidiary of the Borrower or is merged into or consolidated
with the Borrower or any of its Subsidiaries, (b) the income (or deficit) of any
Person (other than a Subsidiary of the Borrower) in which the Borrower or any of
its Subsidiaries has an ownership interest, except to the extent that any such
income is actually received by the Borrower or such Subsidiary in the form of
dividends or similar distributions and (c) the undistributed earnings of any
Subsidiary of the Borrower to the extent that the declaration or payment of
dividends or similar distributions by such Subsidiary is not at the time
permitted by the terms of any Contractual Obligation (other than under any Loan
Document) or Requirement of Law applicable to such Subsidiary.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    “Consolidated Total
Debt”:  at any date, the aggregate principal amount of all
Indebtedness of the Borrower and its Subsidiaries at such date, determined on a
consolidated basis in accordance with GAAP.

     

    “Consolidated Working
Capital”:  at any date, the excess of Consolidated Current
Assets on such date over Consolidated
Current Liabilities on such date.

     

    “Contractual
Obligation”:  as to any Person, any provision of any security
issued by such Person or of any agreement, instrument or other undertaking to
which such Person is a party or by which it or any of its property is bound (it
being agreed that, for purposes of Section 6.4, “Contractual Obligation” shall
not include any Loan Document).

     

    “Credit Party”: the
Administrative Agent, the Issuing Lender, the Swingline Lender or any other
Lender.

     

    “Default”:  any
of the events specified in Section 8, whether or not any requirement for
the giving of notice, the lapse of time, or both, has been
satisfied.

     

    “Defaulting Lender”:
any Lender, as reasonably determined by the Administrative Agent, that (a) has
failed, within three Business Days of the date required to be funded or paid, to
(i) fund any portion of its Loans, (ii) fund any portion of its participations
in Letters of Credit or Swingline Loans or (iii) pay over to any Credit Party
any other amount required to be paid by it hereunder, unless, in the case of
clauses (i) and/or (ii) above, such Lender notifies the Administrative Agent in
writing that such failure is the result of such Lender’s good faith
determination that a condition precedent to funding (specifically identified and
including the particular default, if any) has not been satisfied, (b) has
notified the Borrower or any Credit Party in writing, or has made a public
statement to the effect, that it does not intend or expect to comply with any of
its funding obligations under this Agreement (unless such writing or public
statement indicates that such position is based on such Lender’s good faith
determination that a condition precedent (specifically identified and including
the particular default, if any) to funding a loan under this Agreement cannot be
satisfied) or generally under other agreements in which it commits to extend
credit in each case in this clause (b), unless the subject of a good faith
dispute, (c) has failed, within three Business Days after written request by a
Credit Party, acting in good faith and based on the reasonable belief that such
Lender may not fulfill its funding obligation, to provide a certification in
writing from an authorized officer of such Lender that it will comply with its
obligations to fund prospective Loans and participations in then outstanding
Letters of Credit and Swingline Loans under this Agreement, unless the subject
of a good faith dispute (provided, that such
Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon
such Credit Party’s receipt of such certification in form and substance
reasonably satisfactory to it and the Administrative Agent), or (d) has become
the subject of a Bankruptcy Event.

     

    “Disposition”:  with
respect to any property, any sale, lease, sale and leaseback, assignment,
conveyance, transfer or other disposition thereof.  The terms “Dispose” and “Disposed of” shall
have correlative meanings.

     

     “Dollars” and “$”:  dollars
in lawful currency of the United States.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    “Domestic
Subsidiary”:  any Subsidiary of the Borrower organized under
the laws of any jurisdiction within the United States.

     

    “ECF
Percentage”:  50%; provided, that with
respect to each fiscal year of the Borrower ending on or after December 31,
2010, the ECF Percentage shall be reduced to 33% if the Consolidated Leverage
Ratio as of the last day of such fiscal year is not greater than 1.5 to
1.0.

     

    “Environmental Claim”:
any written or oral notice, claim, demand, order, action, suit, complaint,
proceeding, request for information or other communication by any person
alleging liability or potential liability (including without limitation
liability or potential liability for investigatory costs, cleanup costs,
governmental response costs, natural resource damages, property damage, personal
injury, fines or penalties) arising out of, relating to, based on or resulting
from (i) the presence, discharge, emission, release or threatened release of any
Materials of Environmental Concern at any location; (ii) circumstances forming
the basis of any violation or alleged violation of any Environmental Law or
Environmental Permit or (iii) otherwise relating to obligations or liabilities
under any Environmental Laws.

     

     “Environmental
Laws”:  any and all foreign, Federal, state, local or municipal
laws, rules, orders, regulations, statutes, ordinances, codes, decrees,
requirements of any Governmental Authority or other Requirements of Law
(including common law) regulating, relating to or imposing liability or
standards of conduct concerning pollution or protection of the environment or
human health and safety.

     

    “Environmental
Permits”: any and all permits, licenses, registrations, approvals,
notifications, exemptions and any other authorization required under any
Environmental Law.

     

    “Environmental
Report”:  any report, study, assessment, audit, or other
similar document that addresses any issue of actual or potential noncompliance
with, actual or potential liability under or cost arising out of, or actual or
potential impact on business in connection with, any Environmental Law or any
proposed or anticipated change in or addition to Environmental Law.

     

    “ERISA”:  the
Employee Retirement Income Security Act of 1974, as amended from time to
time.

     

    “ERISA Affiliate”: any
trade or business (whether or not incorporated) that, together with the Borrower
or any of its Subsidiaries, is treated as a single employer under Section 414 of
the Code.

     

    “ERISA
Event”:  (a) any Reportable Event; (b) the existence
with respect to any Plan of a Prohibited Transaction; (c) any failure by any
Pension Plan to satisfy the minimum funding standards (within the meaning of
Section 412 or 430 of the Code or Section 302 of ERISA) applicable to such
Pension Plan, including any “accumulated funding deficiency” (as defined in
Section 412 of the Code or Section 302 of ERISA), whether or not
waived; (d) the filing pursuant to Section 412 of the Code or
Section 302(c) of ERISA of an application for a waiver of the minimum
funding standard with respect to any Pension Plan, the failure to make by its
due date a required installment under Section 430(j) of the Code with respect to
any Pension Plan or the failure by the Borrower, any of its Subsidiaries or any
ERISA Affiliate to make any required contribution to a Multiemployer Plan;
(d) the incurrence by the Borrower, any of its Subsidiaries or
any  ERISA Affiliate of any liability under Title IV of ERISA
with respect to the termination of any Pension Plan, including but not limited
to the imposition of any Lien in favor of the PBGC or any Pension Plan;
(f) a determination that any Pension Plan is, or is expected to be, in “at
risk” status (within the meaning of Title IV of ERISA); (g) the receipt by the
Borrower, any of its Subsidiaries or any ERISA Affiliate from the PBGC or a plan
administrator of any notice relating to an intention to terminate any Pension
Plan or to appoint a trustee to administer any Pension Plan under Section 4042
of ERISA; (h) the incurrence by the Borrower, any of its Subsidiaries or any
ERISA Affiliate of any liability with respect to the withdrawal or partial
withdrawal from any Pension Plan or Multiemployer Plan; or (i) the receipt
by the Borrower, any of its Subsidiaries or any ERISA Affiliate of any notice,
or the receipt by any Multiemployer Plan from the Borrower, any of its
Subsidiaries or any ERISA Affiliate of any notice, concerning the imposition of
Withdrawal Liability or a determination that a Multiemployer Plan is, or is
expected to be, Insolvent, in Reorganization or in endangered or critical
status, within the meaning of Section 432 of the Code or Section 305 or
Title IV of ERISA.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    “Eurodollar
Loans”:  Loans the rate of interest applicable to which is
based upon the Eurodollar Rate.

     

    “Eurodollar
Rate”:  with respect to each day during each Interest Period
pertaining to a Eurodollar Loan, the rate per annum determined on the basis of
the rate for deposits in Dollars for a period equal to such Interest Period
commencing on the first day of such Interest Period appearing on the Reuters
Screen LIBOR01 Page as of 11:00 A.M., London time, two Business Days prior to
the beginning of such Interest Period.  In the event that such rate does
not appear on such page (or otherwise on such screen), the “Eurodollar Rate”
shall be determined by reference to such other comparable publicly available
service for displaying eurodollar rates as may be selected by the Administrative
Agent or, in the absence of such availability, by reference to the rate at which
the Administrative Agent is offered Dollar deposits at or about 11:00 A.M., New
York City time, two Business Days prior to the beginning of such Interest Period
in the interbank eurodollar market where its eurodollar and foreign currency and
exchange operations are then being conducted for delivery on the first day of
such Interest Period for the number of days comprised therein.

     

    “Eurodollar
Tranche”:  the collective reference to Eurodollar Loans under a
particular Facility the then current Interest Periods with respect to all of
which begin on the same date and end on the same later date (whether or not such
Loans shall originally have been made on the same day).

     

    “Event of
Default”:  any of the events specified in Section 8; provided, that any
requirement for the giving of notice, the lapse of time, or both, has been
satisfied.

     

    “Excess Cash
Flow”:  for any fiscal year of the Borrower, the excess, if
any, of (a) the sum, without duplication, of (i) Consolidated Net Income for
such fiscal year, (ii) the amount of all non-cash charges (including
depreciation and amortization) deducted in arriving at such Consolidated Net
Income, (iii) decreases in Consolidated Working Capital for such fiscal year,
and (iv) the aggregate net amount of non-cash loss on the Disposition of
property by the Borrower and its Subsidiaries during such fiscal year (other
than sales of inventory in the ordinary course of business), to the extent
deducted in arriving at such Consolidated Net Income minus (b) the sum,
without duplication, of (i) the amount of all non-cash credits included in
arriving at such Consolidated Net Income, (ii) the aggregate amount actually
paid by the Borrower and its Subsidiaries in cash during such fiscal year on
account of Capital Expenditures (excluding the principal amount of Indebtedness
incurred in connection with such expenditures and any such expenditures financed
with the proceeds of any Reinvestment Deferred Amount), (iii) to the extent not
funded with the proceeds of Indebtedness, the aggregate amount of all principal
repayments or prepayments of Funded Debt (including the Term Loans) of the
Borrower and its Subsidiaries made during such fiscal year (other than in
respect of any revolving credit facility to the extent there is not an
equivalent permanent reduction in commitments thereunder), (iv) the aggregate
amount of permitted optional prepayments of the Subordinated Note during such
fiscal year (to the extent such prepayments are not funded with the proceeds of
Indebtedness), (v) increases in Consolidated Working Capital for such fiscal
year, and (vi) the aggregate net amount of non-cash gain on the Disposition of
property by the Borrower and its Subsidiaries during such fiscal year (other
than sales of inventory in the ordinary course of business), to the extent
included in arriving at such Consolidated Net Income.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    “Excess Cash Flow Application
Date”:  as defined in Section 2.11(c).

     

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

     

    “Excluded Foreign
Subsidiary”:  (1) any Subsidiary listed on Schedule 1.1D and
(2) any Foreign Subsidiary in respect of which either (a) the pledge of all of
the Capital Stock of such Subsidiary as Collateral or (b) the guaranteeing by
such Subsidiary of the Obligations, would, in the good faith judgment of the
Borrower, result in adverse tax consequences to the Borrower or any of its
Subsidiaries.

     

    “Existing Letters of
Credit”: the letters of credit identified on Schedule 1.1B.

     

    “Facility”:  each
of (a) the Term Commitments and the Term Loans made thereunder (the “Term Facility”) and
(b) the Revolving Commitments and the extensions of credit made thereunder (the
“Revolving
Facility”).

     

    “Federal Funds
Rate”:  means, for any day, the rate per annum equal to the
weighted average of the rates on overnight federal funds transactions with
members of the Federal Reserve System arranged by federal funds brokers on such
day, as published by the Federal Reserve Bank on the Business Day next
succeeding such day; provided, that (a),
if such day is not a Business Day, the Federal Funds Rate for such day shall be
such rate on such transactions on the immediately preceding Business Day as so
published on the next succeeding Business Day and (b) if no such rate is so
published on such next succeeding Business Day, the Federal Funds Rate for such
day shall be the average rate charged to the Administrative Agent on such day on
such transactions as determined by the Administrative Agent.

     

    “Fee Letter” means the
Fee Letter, dated as of June 17, 2010, by and among the Borrower, Royal Bank of
Canada, Wells Fargo Securities LLC and Wells Fargo Bank, National
Association.

     

    “Fee Payment
Date”:  (a) the third Business Day following the last day of
each March, June, September and December and (b) the last day of the Revolving
Commitment Period.

     

    “Foreign
Subsidiary”:  any Subsidiary of the Borrower that is not a
Domestic Subsidiary.

     

    “Funded
Debt”:  as to any Person, all Indebtedness of such Person that
matures more than one year from the date of its creation or matures within one
year from such date but is renewable or extendible, at the option of such
Person, to a date more than one year from such date or arises under a revolving
credit or similar agreement that obligates the lender or lenders to extend
credit during a period of more than one year from such date, including all
current maturities and current sinking fund payments in respect of such
Indebtedness whether or not required to be paid within one year from the date of
its creation and, in the case of the Borrower, Indebtedness in respect of the
Loans.

     

    “Funding
Office”:  the office of the Administrative Agent specified in
Section 10.2 or such other office as may be specified from time to time by the
Administrative Agent as its funding office by written notice to the Borrower and
the Lenders.

     

    “GAAP”:  generally
accepted accounting principles in the United States of America as in effect from
time to time.

    
      
         

      

      
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    “Governmental
Authority”:  any nation or government, any state or other
political subdivision thereof, any agency, authority, instrumentality,
regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative functions of or
pertaining to government, any securities exchange and any self-regulatory
organization (including the National Association of Insurance
Commissioners).

     

    “Guarantee and Collateral
Agreement”:  the Guarantee and Collateral Agreement to be
executed and delivered by the Borrower and each Subsidiary Guarantor,
substantially in the form of Exhibit A.

     

    “Guarantee
Obligation”:  as to any Person (the “guaranteeing
person”), any obligation, including a reimbursement, counterindemnity or
similar obligation, of the guaranteeing Person that guarantees or in effect
guarantees, or which is given to induce the creation of a separate obligation by
another Person (including any bank under any letter of credit) that guarantees
or in effect guarantees, any Indebtedness, (the “primary obligations”)
of any other third Person (the “primary obligor”) in
any manner, whether directly or indirectly, including any obligation of the
guaranteeing person, whether or not contingent, (i) to purchase any such primary
obligation or any property constituting direct or indirect security therefor,
(ii) to advance or supply funds (1) for the purchase or payment of any such
primary obligation or (2) to maintain working capital or equity capital of the
primary obligor or otherwise to maintain the net worth or solvency of the
primary obligor, (iii) to purchase property, securities or services primarily
for the purpose of assuring the owner of any such primary obligation of the
ability of the primary obligor to make payment of such primary obligation or
(iv) otherwise to assure or hold harmless the owner of any such primary
obligation against loss in respect thereof; provided, however, that the
term Guarantee Obligation shall not include endorsements of instruments for
deposit or collection in the ordinary course of business.  The amount of
any Guarantee Obligation of any guaranteeing person shall be deemed to be the
lower of (a) an amount equal to the stated or determinable amount of the primary
obligation in respect of which such Guarantee Obligation is made and (b) the
maximum amount for which such guaranteeing person may be liable pursuant to the
terms of the instrument embodying such Guarantee Obligation, unless such primary
obligation and the maximum amount for which such guaranteeing person may be
liable are not stated or determinable, in which case the amount of such
Guarantee Obligation shall be such guaranteeing person’s maximum reasonably
anticipated liability in respect thereof as determined by the Borrower in good
faith.

     

    “Guarantors”:  the
Subsidiary Guarantors.

     

    “Immaterial
Subsidiary”: on any date, any Subsidiary that represented 1% or less of
consolidated total assets and 1% or less of annual consolidated revenues of the
Borrower and its Subsidiaries as reflected on the most recent financial
statements delivered pursuant to Section 6.1(a) prior to such date; provided, that (i) at
such time as any such Subsidiary becomes a party to this Agreement or any other
Loan Document or executes and delivers a guarantee, security agreement, mortgage
or other similar agreement supporting the Obligations, such Subsidiary shall at
all times thereafter not be an Immaterial Subsidiary irrespective of the value
of its assets or its revenues and (ii) the aggregate assets and aggregate annual
consolidated revenues of all Immaterial Subsidiaries shall at no time exceed 5%
of consolidated total assets and 5% of annual consolidated revenues of the
Borrower and its Subsidiaries, respectively (the “5% Requirement”);
provided further, that in the
event that the designation of any Subsidiary as an Immaterial
Subsidiary would result in the failure to comply with the 5% Requirement, the
Borrower shall notify the Administrative Agent as to the Subsidiary or
Subsidiaries which shall no longer be deemed Immaterial Subsidiaries, to the
extent required to ensure compliance with the 5%
Requirement.

    
      
         

      

      
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    “Indebtedness”:  of
any Person at any date, without duplication, (a) all indebtedness of such Person
for borrowed money, (b) all obligations of such Person for the deferred purchase
price of property or services (other than current trade payables incurred in the
ordinary course of such Person’s business), (c) all obligations of such Person
evidenced by notes, bonds, debentures or other similar instruments, (d) all
indebtedness created or arising under any conditional sale or other title
retention agreement with respect to property acquired by such Person (even
though the rights and remedies of the seller or lender under such agreement in
the event of default are limited to repossession or sale of such property), (e)
all Capital Lease Obligations of such Person, (f) all obligations of such
Person, contingent or otherwise, as an account party or applicant under or in
respect of bankers’ acceptances, letters of credit, surety bonds or similar
arrangements, (g) the liquidation value of all redeemable preferred Capital
Stock of such Person, (h) all Guarantee Obligations of such Person in respect of
obligations of the kind referred to in clauses (a) through (g) above, and (i)
all obligations of the kind referred to in clauses (a) through (h) above secured
by (or for which the holder of such obligation has an existing right, contingent
or otherwise, to be secured by) any Lien on property (including accounts and
contract rights) owned by such Person, whether or not such Person has assumed or
become liable for the payment of such obligation, valued at the lesser of (i) if
recourse is limited to such property, the fair market value of such property or
(ii) the amount of the Indebtedness of such other Person.  The Indebtedness
of any Person shall include the Indebtedness of any other entity (including any
partnership in which such Person is a general partner) to the extent such Person
is liable therefor as a result of such Person’s ownership interest in or other
relationship with such entity, except to the extent the terms of such
Indebtedness expressly provide that such Person is not liable
therefor.

     

    “Indemnified
Liabilities”:  as defined in Section 10.5.

     

    “Indemnitee”:  as
defined in Section 10.5.

     

    “Insolvent”:  with
respect to any Multiemployer Plan, the condition that such Plan is insolvent
within the meaning of Section 4245 of ERISA.

     

    “Intellectual Property”: the
collective reference to all intellectual property and all rights, priorities and
privileges relating to intellectual property, whether arising under United
States, multinational or foreign laws or otherwise, including, without
limitation, the Copyrights, the Copyright Licenses, the Patents, the Patent
Licenses, the Trademarks and the Trademark Licenses (each as defined in the
Guarantee and Collateral Agreement), trade secrets, know-how and other
proprietary information and related documentation, and all rights to sue at law
or in equity for any infringement or other impairment thereof, including the
right to receive all proceeds and damages therefrom.

     

    “Interest Payment
Date”:  (a) as to any ABR Loan (other than any Swingline Loan),
the first Business Day following the last day of each March, June, September and
December (or, if an Event of Default is in existence, the first Business Day
following last day of each calendar month) to occur while such Loan is
outstanding and the final maturity date of such Loan, (b) as to any Eurodollar
Loan having an Interest Period of three months or less, the last day of such
Interest Period, (c) as to any Eurodollar Loan having an Interest Period longer
than three months, each day that is three months, or a whole multiple thereof,
after the first day of such Interest Period, (d) as to any Loan (other than any
Revolving Loan that is an ABR Loan and any Swingline Loan), the date of any
repayment or prepayment made in respect thereof and (e) as to any Swingline
Loan, the day that such Loan is required to be repaid.

    
      
         

      

      
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    “Interest
Period”:  as to any Eurodollar Loan, (a) initially, the period
commencing on the borrowing or conversion date, as the case may be, with respect
to such Eurodollar Loan and ending one, two, three or six (or, if agreed to by
all Lenders under the relevant Facility, nine or twelve) months thereafter, as
selected by the Borrower in its notice of borrowing or notice of conversion, as
the case may be, given with respect thereto; and (b) thereafter, each period
commencing on the last day of the next preceding Interest Period applicable to
such Eurodollar Loan and ending one, two, three or six (or, if agreed to by all
Lenders under the relevant Facility, nine or twelve) months thereafter, as
selected by the Borrower by irrevocable notice to the Administrative Agent not
later than 11:00 A.M., New York City time, on the date that is three Business
Days prior to the last day of the then current Interest Period with respect
thereto; provided that, all of
the foregoing provisions relating to Interest Periods are subject to the
following:

     

    (i)       if
any Interest Period would otherwise end on a day that is not a Business Day,
such Interest Period shall be extended to the next succeeding Business Day
unless the result of such extension would be to carry such Interest Period into
another calendar month in which event such Interest Period shall end on the
immediately preceding Business Day;

     

    (ii)      the
Borrower may not select an Interest Period under a particular Facility that
would extend beyond the Revolving Termination Date or beyond the date final
payment is due on the Term Loans;

     

    (iii)     any
Interest Period that begins on the last Business Day of a calendar month (or on
a day for which there is no numerically corresponding day in the calendar month
at the end of such Interest Period) shall end on the last Business Day of a
calendar month; and

     

    (iv)     the
Borrower shall select Interest Periods so as not to require a payment or
prepayment of any Eurodollar Loan during an Interest Period for such
Loan.

     

    “Investments”:  as
defined in Section 7.7.

     

    “Issuing
Lender”:  Royal Bank of Canada or any affiliate thereof, in its
capacity as issuer of any Letter of Credit.

     

    “L/C
Commitment”:  $5,000,000.

     

    “L/C
Disbursement”:  a payment made by an Issuing Lender pursuant to
a Letter of Credit.

     

    “L/C
Obligations”:  at any time, an amount equal to the sum of (a)
the aggregate then undrawn and unexpired amount of the then outstanding Letters
of Credit and (b) the aggregate amount of drawings under Letters of Credit that
have not then been reimbursed pursuant to Section 3.5.

     

    “L/C
Participants”:  the collective reference to all the Revolving
Lenders other than the Issuing Lender.

     

    “Lead Arrangers”: the
collective reference to RBC Capital Markets and Wells Fargo Securities,
LLC.

     

    “Lenders”:  as
defined in the preamble hereto; provided, that unless
the context otherwise requires, each reference herein to the Lenders shall be
deemed to include any Conduit Lender.

     

    “Letters of
Credit”:  as defined in Section 3.1(a).

    
      
         

      

      
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    “Lien”:  any
mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance,
lien (statutory or other), charge or other security interest or any preference,
priority or other security agreement or preferential arrangement in the nature
of a security interest of any kind or nature whatsoever (including any
conditional sale or other title retention agreement and any capital lease having
substantially the same economic effect as any of the foregoing).

     

     “Loan”:  any
loan made by any Lender pursuant to this Agreement.

     

    “Loan
Documents”:  this Agreement, the Security Documents and any
amendment, waiver, supplement or other modification to any of the
foregoing.

     

    “Loan
Parties”:  the Borrower and each of its Subsidiaries that is a
party to a Loan Document.

     

    “Majority Facility
Lenders”:  with respect to any Facility, the holders of more
than 50% of the aggregate unpaid principal amount of the Term Loans or the Total
Revolving Extensions of Credit, as the case may be, outstanding under such
Facility (or, in the case of the Revolving Facility, prior to any termination of
the Revolving Commitments, the holders of more than 50% of the Total Revolving
Commitments).

     

     “Material Adverse
Effect”:  a material adverse effect on (a) the business,
operations, property, or financial condition of the Borrower and its
Subsidiaries taken as a whole or (b) the validity or enforceability of this
Agreement or any of the other Loan Documents or the rights and remedies of the
Administrative Agent or the Lenders hereunder or thereunder.

     

    “Materials of Environmental
Concern”:  any gasoline or petroleum (including crude oil or
any fraction thereof) or petroleum products, asbestos, polychlorinated
biphenyls, urea-formaldehyde insulation or any hazardous, toxic or other
substances, materials or wastes, regulated pursuant to or that could give rise
to liability under any Environmental Law.

     

    “Maturity Date”: July
30, 2015.

     

    “Mortgages”:  each
of the mortgages and deeds of trust made by any Loan Party in favor of, or for
the benefit of, the Administrative Agent for the benefit of the Lenders, in form
and substance reasonably satisfactory to the Administrative Agent.

     

     “Multiemployer
Plan”:  a Plan that is a multiemployer plan as defined in
Section 4001(a)(3) of ERISA.

     

    “Net Cash
Proceeds”:  (a) in connection with any Asset Sale or any
Recovery Event, the proceeds thereof in the form of cash and Cash Equivalents
(including any such proceeds received by way of deferred payment of principal
pursuant to a note or installment receivable or purchase price adjustment
receivable or otherwise, but only as and when received), net of attorneys’ fees,
accountants’ fees, investment banking fees, amounts required to be applied to
the repayment of Indebtedness secured by a Lien expressly permitted hereunder on
any asset that is the subject of such Asset Sale or Recovery Event (other than
any Lien pursuant to a Security Document) and other customary fees and expenses
actually incurred in connection therewith and net of taxes paid or reasonably
estimated to be payable as a result thereof (after taking into account any
available tax credits or deductions and any tax sharing arrangements) and (b) in
connection with any issuance or sale of Capital Stock or any incurrence of
Indebtedness, the cash proceeds received from such issuance or incurrence, net
of attorneys’ fees, investment banking fees, accountants’ fees, underwriting
discounts and commissions and other customary fees and expenses actually
incurred in connection therewith.

    
      
         

      

      
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    “Non-Consenting
Lender”:  as defined in Section 10.1.

     

    “Non-Excluded
Taxes”:  as defined in Section 2.19(a).

     

    “Non-U.S.
Lender”:  as defined in Section 2.19(e).

     

    “Notes”:  the
collective reference to any promissory note evidencing Loans, substantially in
the form of Exhibit I-1 in the case of a Note with respect to a Term Loan and
substantially in the form of Exhibit I-2 in the case of a Note with respect to
Revolving Loans.

     

    “Obligations”:  the
unpaid principal of and interest on (including interest accruing after the
maturity of the Loans and Reimbursement Obligations and interest accruing after
the filing of any petition in bankruptcy, or the commencement of any insolvency,
reorganization or like proceeding, relating to the Borrower, whether or not a
claim for post-filing or post-petition interest is allowed in such proceeding)
the Loans and all other obligations and liabilities of the Borrower to the
Administrative Agent or to any Lender (or, in the case of Specified Swap
Agreements and Specified Cash Management Agreements, any Affiliate of any
Lender), whether direct or indirect, absolute or contingent, due or to become
due, or now existing or hereafter incurred, which may arise under, out of, or in
connection with, this Agreement, any other Loan Document, the Letters of Credit,
any Specified Swap Agreement, any Specified Cash Management Agreement or any
other document made, delivered or given in connection herewith or therewith,
whether on account of principal, interest, reimbursement obligations, fees,
indemnities, costs, expenses (including all fees, charges and disbursements of
counsel to the Administrative Agent or to any Lender that are required to be
paid by the Borrower pursuant hereto) or otherwise.

     

    “Other
Taxes”:  any and all present or future stamp or documentary
taxes or any other excise or property taxes, charges or similar levies arising
from any payment made hereunder or from the execution, delivery or enforcement
of, or otherwise with respect to, this Agreement or any other Loan Document,
including any interest, additions to tax or penalties applicable
thereto.

     

    “Parent”: with respect
to any Lender, any Person as to which such Lender is, directly or indirectly, a
subsidiary.

     

    “Participant”:  as
defined in Section 10.6(c).

     

    “PBGC”:  the
Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title
IV of ERISA (or any successor).

     

    “Pension
Plan”:  any Plan (other than a Multiemployer Plan) subject to
the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of
ERISA.

     

    “Permitted
Acquisition”:  as defined in Section 7.7(h).

    
      
         

      

      
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    “Permitted
Refinancing” shall mean, with respect to any Indebtedness of any person,
any modification, refinancing, refunding, renewal or extension of such
Indebtedness; provided, that (i) in
the case of any modification, refinancing, refunding, renewal or extension of
Indebtedness assumed pursuant to Section 7.2(q), no person that is not an
obligor with respect to such Indebtedness immediately prior to such
modification, refinancing, refunding, renewal or extension shall be an obligor
with respect to such Indebtedness after giving effect to such modification,
refinancing, refunding, renewal or extension, (ii) the final maturity and
weighted average life to maturity of such Indebtedness shall not be shortened as
a result of such modification, refinancing, refunding, renewal or extension,
(iii) in the case of any modification, refinancing, refunding, renewal or
extension of Indebtedness incurred pursuant Section 7.2(e), the other material
terms and conditions of such Indebtedness after giving effect to such
modification, refinancing, refunding, renewal or extension, taken as a whole,
including the collateral if any securing such Indebtedness, shall not be
materially more restrictive as determined by the Borrower in good faith, and
(iv) the principal amount (or accreted value, if applicable) thereof does not
exceed the principal amount (or accreted value, if applicable) of the
Indebtedness so modified, refinanced, refunded, renewed or extended except by an
amount equal to unpaid accrued interest and premium thereon at such time plus
reasonable fees and expenses incurred in connection with such modification,
refinancing, refunding, renewal or extension.

     

    “Permitted Sale and
Leaseback” means the sale and leaseback of the property located at 1425
North Washington Street, Spokane, Washington.

     

    “Person”:  an
individual, partnership, corporation, limited liability company, business trust,
joint stock company, trust, unincorporated association, joint venture,
Governmental Authority or other entity of whatever nature.

     

    “Plan”:  at
a particular time any employee benefit plan that is covered by ERISA and any
plan which is both an employee welfare benefit plan and an employee pension
benefit plan, and in respect of which the Borrower or a Commonly Controlled
Entity is (or, if such Plan were terminated, would under or Section 4069 of
ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.

     

    “Prime
Rate”:  the rate of interest per annum publicly announced from
time to time by Royal Bank of Canada as its prime rate in effect at its
principal office in New York City (the Prime Rate not being intended to be the
lowest rate of interest charged by Royal Bank of Canada in connection with
extensions of credit to debtors).

     

    “Pro Forma Balance
Sheet”:  as defined in Section 4.1(a).

     

    “Prohibited
Transaction”:  as defined in Section 406 of ERISA and Section
4975(f)(3) of the Code.

     

    “Projections”:  as
defined in Section 6.2(c).

     

    “Properties”:  as
defined in Section 4.17(a).

     

    “Proposed
Change”:  as defined in Section 10.1.

     

    “Recovery
Event”:  any settlement of or payment in respect of any
property or casualty insurance claim or any condemnation proceeding relating to
any asset of the Borrower or any of its Subsidiaries.

     

    “Refunded Swingline
Loans”:  as defined in Section 2.7(b).

     

    “Register”:  as
defined in Section 10.6(b)(iv).

     

    “Regulation
S-X”:  Regulation S-X of the Securities Act of 1933, as
amended.

     

    “Regulation
U”:  Regulation U of the Board as in effect from time to
time.

    
      
         

      

      
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    “Reimbursement
Obligation”:  the obligation of the Borrower to reimburse the
Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of
Credit.

     

    “Reinvestment Deferred
Amount”:  with respect to any Reinvestment Event, the aggregate
Net Cash Proceeds received by the Borrower or any of its Subsidiaries in
connection therewith that are not applied to prepay the Term Loans or reduce the
Revolving Commitments pursuant to Section 2.11(b) as a result of the delivery of
a Reinvestment Notice.

     

    “Reinvestment
Event”:  any Asset Sale or Recovery Event in respect of which
the Borrower has delivered a Reinvestment Notice.

     

    “Reinvestment
Notice”:  a written notice executed by a Responsible Officer
stating that no Event of Default has occurred and is continuing and that the
Borrower (directly or indirectly through a Subsidiary) intends and expects to
use all or a specified portion of the Net Cash Proceeds of an Asset Sale or
Recovery Event to acquire or repair assets useful in its business, other than
current assets.

     

    “Reinvestment Prepayment
Amount”:  with respect to any Reinvestment Event, the
Reinvestment Deferred Amount relating thereto less any amount expended prior to
the relevant Reinvestment Prepayment Date to acquire or repair assets useful in
the Borrower’s business, other than current assets.

     

    “Reinvestment Prepayment
Date”:  with respect to any Reinvestment Event, the earlier of
(a) the date occurring six months after such Reinvestment Event and (b) the date
on which the Borrower shall have determined not to, or shall have otherwise
ceased to, acquire or repair assets useful in the Borrower’s business, other
than current assets, with all or any portion of the relevant Reinvestment
Deferred Amount.

     

    “Reorganization”:  with
respect to any Multiemployer Plan, the condition that such plan is in
reorganization within the meaning of Section 4241 of ERISA.

     

    “Replaced Term
Loans”:  as defined in Section 10.1.

     

    “Replacement Term
Loans”:  as defined in Section 10.1.

     

    “Reportable
Event”:  any of the events set forth in Section 4043(c) of
ERISA, other than those events as to which the thirty day notice period is
waived, with respect to a Pension Plan.

     

    “Required
Lenders”:  (a) at any time there are four or fewer Lenders
hereunder, the holders of more than 66 2/3% of (i) until the Closing Date, the
Commitments then in effect and (ii) thereafter, the sum of (x) the aggregate
unpaid principal amount of the Term Loans then outstanding and (y) the Total
Revolving Commitments then in effect or, if the Revolving Commitments have been
terminated, the Total Revolving Extensions of Credit then outstanding; or (b) at
any time there are at least five Lenders hereunder, the holders of more than 50%
of the sum of (x) the aggregate unpaid principal amount of the Term Loans then
outstanding and (y) the Total Revolving Commitments then in effect or, if the
Revolving Commitments have been terminated, the Total Revolving Extensions of
Credit then outstanding.

     

    “Requirement of
Law”:  as to any Person, the certificate of incorporation and
by-laws or other organizational or governing documents of such Person, and any
law, treaty, rule or regulation or determination of an arbitrator or a court or
other Governmental Authority, in each case applicable to or binding upon such
Person or any of its property or to which such Person or any of its property is
subject.

    
      
         

      

      
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    “Responsible
Officer”:  the chief executive officer, president or chief
financial officer of the Borrower, but in any event, with respect to financial
matters, the chief financial officer of the Borrower.

     

    “Restricted
Payments”:  as defined in Section 7.6.

     

    “Revolving
Commitment”:  as to any Lender, the obligation of such Lender,
if any, to make Revolving Loans and participate in Swingline Loans and Letters
of Credit in an aggregate principal and/or face amount not to exceed the amount
set forth under the heading “Revolving Commitment” opposite such Lender’s name
on Schedule 1.1A or in the Assignment and Assumption pursuant to which such
Lender became a party hereto, as the same may be changed from time to time
pursuant to the terms hereof.  The original amount of the Total Revolving
Commitments is $15,000,000.

     

    “Revolving Commitment
Period”:  the period from and including the Closing Date to the
Revolving Termination Date.

     

    “Revolving Credit
Exposure”: with respect to any Lender at any time, the sum of the
outstanding principal amount of such Revolving Lender's Revolving Loans and its
L/C Obligations at such time.  

     

     “Revolving Extensions of
Credit”:  as to any Revolving Lender at any time, an amount
equal to the sum of (a) the aggregate principal amount of all Revolving Loans
held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of
the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage
of the aggregate principal amount of Swingline Loans then
outstanding.

     

    “Revolving
Lender”:  each Lender that has a Revolving Commitment or that
holds Revolving Loans.

     

    “Revolving
Loans”:  as defined in Section 2.4(a).

     

    “Revolving
Percentage”:  as to any Revolving Lender at any time, the
percentage which such Lender’s Revolving Commitment then constitutes of the
Total Revolving Commitments or, at any time after the Revolving Commitments
shall have expired or terminated, the percentage which the aggregate principal
amount of such Lender’s Revolving Loans then outstanding constitutes of the
aggregate principal amount of the Revolving Loans then outstanding; provided, that in the
event that the Revolving Loans are paid in full prior to the reduction to zero
of the Total Revolving Extensions of Credit, the Revolving Percentages shall be
determined in a manner designed to ensure that the other outstanding Revolving
Extensions of Credit shall be held by the Revolving Lenders on a comparable
basis.

     

    “Revolving Termination
Date”:  July 30, 2015.

     

    “SEC”:  the
Securities and Exchange Commission, any successor thereto and any analogous
Governmental Authority.

     

    “Secured Parties”: the
collective reference to the Administrative Agent, the Lenders and any Affiliate
of any Lender to which Obligations are owed by any Loan Party.

     

     “Security
Documents”:  the collective reference to the Guarantee and
Collateral Agreement, any Mortgages and all other security documents hereafter
delivered to the Administrative Agent granting a Lien on any property of any
Person to secure the obligations and liabilities of any Loan Party under any
Loan Document.

    
      
         

      

      
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    “Solvent”:  when
used with respect to any Person, means that, as of any date of determination,
(a) the amount of the “fair value” of the assets of such Person will, as of such
date, exceed the amount of all “liabilities of such Person, contingent or
otherwise”, as of such date, as such quoted terms are determined in accordance
with applicable federal and state laws governing determinations of the
insolvency of debtors, (b) the present fair saleable value of the assets of such
Person will, as of such date, be greater than the amount that will be required
to pay the liability of such Person on its debts as such debts become absolute
and matured as such quoted terms are determined in accordance with applicable
federal and state laws governing determinations of the insolvency of debtors,
(c) such Person will not have, as of such date, an unreasonably small amount of
capital with which to conduct its business, and (d) such Person will be able to
pay its debts as they mature.  For purposes of this definition, (i) “debt”
means liability on a “claim”, and (ii) “claim” means any (x) right to payment,
whether or not such a right is reduced to judgment, liquidated, unliquidated,
fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable,
secured or unsecured or (y) right to an equitable remedy for breach of
performance if such breach gives rise to a right to payment, whether or not such
right to an equitable remedy is reduced to judgment, fixed, contingent, matured
or unmatured, disputed, undisputed, secured or unsecured.

     

    “Specified Cash Management
Agreement”:  any agreement providing for treasury, depositary,
purchasing card or cash management services, or bank card products or services
provided in connection therewith, including in connection with any automated
clearing house transfers of funds or any similar transactions between the
Borrower or any Guarantor and any Lender or an Affiliate thereof, which has been
designated by such Lender and the Borrower, by notice to the Administrative
Agent not later than 90 days after the execution and delivery by the Borrower or
such Guarantor, as a “Specified Cash Management Agreement”.

     

    “Specified Swap
Agreement”:  any Swap Agreement in respect of interest rates,
currency exchange rates or commodity prices entered into by the Borrower or any
Guarantor and any Person that is a Lender or an Affiliate of a Lender at the
time such Swap Agreement is entered into (notwithstanding such Person
subsequently ceases at any time to be a Lender or an Affiliate thereof under
this Agreement for any reason) together with such Lender’s or Affiliate’s
successors and assigns (if any).

     

    “Subordinated
Note”:  the subordinated unsecured note in a principal amount
of $5,000,000, issued by the Borrower on the date hereof to Register.com GP
(Cayman) Ltd.

     

    “Subsidiary”:  as
to any Person, a corporation, partnership, limited liability company or other
entity of which shares of stock or other ownership interests having ordinary
voting power (other than stock or such other ownership interests having such
power only by reason of the happening of a contingency) to elect a majority of
the board of directors or other managers of such corporation, partnership or
other entity are at the time owned, or the management of which is otherwise
controlled, directly or indirectly through one or more intermediaries, or both,
by such Person.  Unless otherwise qualified, all references to a
“Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary
or Subsidiaries of the Borrower.

     

    “Subsidiary
Guarantor”:  each Subsidiary of the Borrower other than (i) any
Excluded Foreign Subsidiary and (ii) any Immaterial Subsidiary, for as long as
such Subsidiary remains an Immaterial Subsidiary; provided, that Ranger
Holdco LLC (or any other entity holding all or substantially all of the Capital
Stock of Register.com, Inc. or any successor or assignee of all or substantially
all the assets of Register.com, Inc.) shall be a Subsidiary Guarantor; provided further, that each of
Register.com Investments Coöperatie U.A. and Register Domain Spain, S.L. shall
not be required to be a Subsidiary Guarantor until such time as the
Administrative Agent requests that the Borrower cause it to become a Subsidiary
Guarantor (unless at such time it constitutes an Immaterial Subsidiary) and,
following such request, it shall promptly comply with the requirements of
Section 6.10 as if it were a new Subsidiary.

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

    “Swap
Agreement”:  any agreement with respect to any swap, forward,
future or derivative transaction or option or similar agreement involving, or
settled by reference to, one or more rates, currencies, commodities, equity or
debt instruments or securities, or economic, financial or pricing indices or
measures of economic, financial or pricing risk or value or any similar
transaction or any combination of these transactions; provided, that no
phantom stock or similar plan providing for payments only on account of services
provided by current or former directors, officers, employees or consultants of
the Borrower or any of its Subsidiaries shall be a “Swap
Agreement”.

     

    “Swingline
Commitment”:  the obligation of the Swingline Lender to make
Swingline Loans pursuant to Section 2.6 in an aggregate principal amount at any
one time outstanding not to exceed $5,000,000; provided, that such
amount may be adjusted downward should the Borrower exceed the Revolving
Commitment (less the Swingline Commitment) and may be adjusted back up if any
repayments or prepayments of Revolving Loans are made so as to result in
availability under the Revolving Commitment (less the Swingline
Commitment).

     

    “Swingline Exposure”:
at any time, the aggregate principal amount of all Swingline Loans outstanding
at such time.  The Swingline Exposure of any Lender at any time shall be
its Applicable Exposure Percentage of the total Swingline Exposure at such
time.

     

    “Swingline
Lender”:  Royal Bank of Canada or any of its Affiliates, in its
capacity as the lender of Swingline Loans.

     

    “Swingline
Loans”:  as defined in Section 2.6.

     

    “Swingline Participation
Amount”:  as defined in Section 2.7(c).

     

    “Syndication
Agent”:  as defined in the preamble hereto.

     

    “Target”:  Register.com
(Cayman) Limited Partnership, a Cayman Islands limited partnership.

     

    “Term
Commitment”:  as to any Lender, the obligation of such Lender,
if any, to make a Term Loan to the Borrower in a principal amount not to exceed
the amount set forth under the heading “Term Commitment” opposite such Lender’s
name on Schedule 1.1A.  The original aggregate amount of the Term
Commitments is $95,000,000.

     

     “Term
Lenders”:  each Lender that has a Term Commitment or that holds
a Term Loan.

     

    “Term
Loan”:  as defined in Section 2.1.

     

     “Term
Percentage”:  as to any Term Lender at any time, the percentage
which such Lender’s Term Commitment then constitutes of the aggregate Term
Commitments (or, at any time after the Closing Date, the percentage which the
aggregate principal amount of such Lender’s Term Loans then outstanding
constitutes of the aggregate principal amount of the Term Loans then
outstanding).

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

     “Total Revolving
Commitments”:  at any time, the aggregate amount of the
Revolving Commitments then in effect.

     

    “Total Revolving Extensions
of Credit”:  at any time, the aggregate amount of the Revolving
Extensions of Credit of the Revolving Lenders outstanding at such
time.

     

     “Transferee”:  any
Assignee or Participant.

     

    “Type”:  as
to any Loan, its nature as an ABR Loan or a Eurodollar Loan.

     

    “United
States”:  the United States of America.

     

    “Wholly Owned
Subsidiary”:  as to any Person, any other Person all of the
Capital Stock of which (other than directors’ qualifying shares required by law)
is owned by such Person directly and/or through other Wholly Owned
Subsidiaries.

     

    “Wholly Owned Subsidiary
Guarantor”:  any Subsidiary Guarantor that is a Wholly Owned
Subsidiary of the Borrower.

     

    “Withdrawal
Liability”: any liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are
defined in Title IV of ERISA.

     

    1.2. 
     Other Definitional
Provisions. 
(a)  Unless otherwise specified therein, all terms defined in this
Agreement shall have the defined meanings when used in the other Loan Documents
or any certificate or other document made or delivered pursuant hereto or
thereto.

     

    (b)    
   As used herein and in the other Loan Documents, and any
certificate or other document made or delivered pursuant hereto or thereto, (i)
accounting terms relating to the Borrower or any of its Subsidiaries not defined
in Section 1.1 and accounting terms partly defined in Section 1.1, to the extent
not defined, shall have the respective meanings given to them under GAAP (provided, that except
as expressly specified in the definition of Consolidated EBITDA, notwithstanding
anything to the contrary herein, all accounting or financial terms used herein
shall be construed, and all financial computations pursuant hereto shall be
made, without giving effect to any election under Statement of Financial
Accounting Standards 159 (or any other Financial Accounting Standard having a
similar effect) to value any Indebtedness or other liabilities of the Borrower
or any of its Subsidiaries at “fair value”, as defined therein), (ii) the words
“include”, “includes” and “including” shall be deemed to be followed by the
phrase “without limitation”, (iii) the word “incur” shall be construed to mean
incur, create, issue, assume, become liable in respect of or suffer to exist
(and the words “incurred” and “incurrence” shall have correlative meanings),
(iv) the words “asset” and “property” shall be construed to have the same
meaning and effect and to refer to any and all tangible and intangible assets
and properties, including cash, Capital Stock, securities, revenues, accounts,
leasehold interests and contract rights, and (v) references to agreements or
other Contractual Obligations shall, unless otherwise specified, be deemed to
refer to such agreements or Contractual Obligations as amended, supplemented,
restated or otherwise modified from time to time. In the event that any
Accounting Change (as defined below) shall occur and such change results in a
change in the method of determination or calculation under this Agreement, then
the Borrower and the Administrative Agent agree to enter into good faith
negotiations in order to amend such provisions of this Agreement so as to
equitably reflect such Accounting Change with the desired result that the
criteria for evaluating the Borrower and its Subsidiaries consolidated financial
condition shall be the same after such Accounting Change as if such Accounting
Change had not been made.  Until such time as such an amendment shall have
been executed and delivered by the Borrower, the Administrative Agent and the
Required Lenders, all accounting determinations and computations made hereunder
(including under Section 7.1 and the definitions used in such calculation) shall
continue to be calculated or construed as if such Accounting Change had not
occurred.  “Accounting Change”
refers to any change in accounting principles required by the promulgation of
any rule, regulation, pronouncement or opinion by the Financial Accounting
Standards Board of the American Institute of Certified Public Accountants or, if
applicable, the SEC.  Unless otherwise expressly provided, Section 7.1 and
all defined financial terms shall be computed on a consolidated basis for the
Borrower and its Subsidiaries, in each case without
duplication.

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

    (c)        The
words “hereof”, “herein” and “hereunder” and words of similar import, when used
in this Agreement, shall refer to this Agreement as a whole and not to any
particular provision of this Agreement, and Section, Schedule and Exhibit
references are to this Agreement unless otherwise specified.

     

    (d)       The
meanings given to terms defined herein shall be equally applicable to both the
singular and plural forms of such terms.

     

    SECTION
2.    AMOUNT AND TERMS OF COMMITMENTS

     

    2.1. 
    Term
Commitments. 
Subject to the terms and conditions hereof, each Term Lender severally agrees to
make a term loan (a “Term Loan”) to the
Borrower on the Closing Date in an amount not to exceed the amount of the Term
Commitment of such Lender.  The Term Loans may from time to time be
Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the
Administrative Agent in accordance with Sections 2.2 and 2.12.

     

    2.2. 
    Procedure for Term Loan
Borrowing. 
The Borrower shall give the Administrative Agent irrevocable notice in the form
of Exhibit F (which notice must be received by the Administrative Agent prior to
12:00 Noon, New York City time, one Business Day prior to the anticipated
Closing Date) requesting that the Term Lenders make the Term Loans on the
Closing Date and specifying the amount to be borrowed.  Upon receipt of
such notice the Administrative Agent shall promptly notify each Term Lender
thereof.  Not later than 9:00 A.M., New York City time, on the Closing Date
each Term Lender shall make available to the Administrative Agent at the Funding
Office an amount in immediately available funds equal to the Term Loan or Term
Loans to be made by such Lender; provided, that if any
Term Lender has not funded its Term Loan by 9:00 A.M., New York City time on the
Closing Date and has not indicated to the Administrative Agent that it will not
be funding its Term Loan, the Administrative Agent is authorized to advance such
Term Lender’s Term Loan; provided further, that such
Term Lender shall fund its Term Loan no later than 12:00 Noon, New York City
time on the Closing Date.  The Administrative Agent shall credit the
account of the Borrower on the books of such office of the Administrative Agent
with the aggregate of the amounts made available to the Administrative Agent by
the Term Lenders in immediately available funds.

     

    2.3. 
    Repayment of Term
Loans. 
The Term Loan of each Lender shall mature in twenty (20) consecutive quarterly
installments on the last day of each quarter starting with the quarter ending
December 31, 2010, each of which shall be in an amount equal to such Lender’s
Term Percentage multiplied by the amount set forth below opposite such
installment:

    
      
         

      

      
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                  Installment

                	 	
                  Principal Amount

                	 
	
                  December
      31, 2010

                	 	$	2,375,000	 
	
                  March
      31, 2011

                	 	$	2,375,000	 
	
                  June
      30, 2011

                	 	$	2,375,000	 
	
                  September
      30, 2011

                	 	$	2,375,000	 
	
                  December
      31, 2011

                	 	$	2,968,750	 
	
                  March
      31, 2012

                	 	$	2,968,750	 
	
                  June
      30, 2012

                	 	$	2,968,750	 
	
                  September
      30, 2012

                	 	$	2,968,750	 
	
                  December
      31, 2012

                	 	$	2,968,750	 
	
                  March
      31, 2013

                	 	$	2,968,750	 
	
                  June
      30, 2013

                	 	$	2,968,750	 
	
                  September
      30, 2013

                	 	$	2,968,750	 
	
                  December
      31, 2013

                	 	$	2,968,750	 
	
                  March
      31, 2014

                	 	$	2,968,750	 
	
                  June
      30, 2014

                	 	$	2,968,750	 
	
                  September
      30, 2014

                	 	$	2,968,750	 
	
                  December
      31, 2014

                	 	$	12,468,750	 
	
                  March
      31, 2015

                	 	$	12,468,750	 
	
                  June
      30, 2015

                	 	$	12,468,750	 
	
                  Maturity
      Date

                	 	$	12,468,750	 

        

      

    

     

    Notwithstanding
the foregoing, such installments shall be reduced in connection with any
voluntary or mandatory prepayments of the Loans in accordance with Section 2.10
and Section 2.11.

     

    2.4. 
    Revolving
Commitments. 
(a) Subject to the terms and conditions hereof, each Revolving Lender severally
agrees to make revolving credit loans (“Revolving Loans”) to
the Borrower from time to time during the Revolving Commitment Period in an
aggregate principal amount at any one time outstanding which, when added to such
Lender’s Revolving Percentage of the sum of (i) the L/C Obligations then
outstanding and (ii) the aggregate principal amount of the Swingline Loans then
outstanding, does not exceed the amount of such Lender’s Revolving
Commitment.  During the Revolving Commitment Period the Borrower may use
the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole
or in part, and reborrowing, all in accordance with the terms and conditions
hereof.  The Revolving Loans may from time to time be Eurodollar Loans or
ABR Loans, as determined by the Borrower and notified to the Administrative
Agent in accordance with Sections 2.5 and 2.12.

     

    (b)       The
Borrower shall repay all outstanding Revolving Loans on the Revolving
Termination Date.

    
      
         

      

      
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    2.5. 
    Procedure for Revolving Loan
Borrowing. 
 The Borrower may borrow under the Revolving Commitments during the
Revolving Commitment Period on any Business Day; provided, that the
Borrower shall give the Administrative Agent irrevocable notice in the form of
Exhibit F (which notice must be received by the Administrative Agent prior to
12:00 Noon, New York City time, (a) three Business Days prior to the requested
Borrowing Date, in the case of Eurodollar Loans, or (b) one Business Day prior
to the requested Borrowing Date, in the case of ABR Loans) (provided, that any
such notice of a borrowing of ABR Loans under the Revolving Facility to finance
payments required by Section 3.5 may be given not later than 10:00 A.M.,
New York City time, on the date of the proposed borrowing), specifying (i) the
amount and Type of Revolving Loans to be borrowed, (ii) the requested Borrowing
Date and (iii) in the case of Eurodollar Loans, the respective amounts of each
such Type of Loan and the respective lengths of the initial Interest Period
therefor.  Each borrowing under the Revolving Commitments shall be in an
amount equal to (x) in the case of ABR Loans, $500,000 or a whole multiple
thereof (or, if the then aggregate Available Revolving Commitments are less than
$500,000, such lesser amount) and (y) in the case of Eurodollar Loans,
$2,500,000 or a whole multiple of $500,000 in excess thereof; provided, that the
Swingline Lender may request, on behalf of the Borrower, borrowings under the
Revolving Commitments that are ABR Loans in other amounts pursuant to Section
2.7.  Upon receipt of any such notice from the Borrower, the Administrative
Agent shall promptly notify each Revolving Lender thereof.  Each Revolving
Lender will make the amount of its pro rata share of each
borrowing available to the Administrative Agent for the account of the Borrower
at the Funding Office prior to 12:00 noon, New York City time, on the Borrowing
Date requested by the Borrower in funds immediately available to the
Administrative Agent.  Notwithstanding the foregoing, solely with respect
to the Revolving Loans made on the Closing Date, not later than 9:00 A.M., New
York City time, on the Closing Date each Revolving Lender shall make available
to the Administrative Agent at the Funding Office an amount in immediately
available funds equal to its pro rata share of such
Revolving Loans; provided, that if any
Revolving Lender has not funded its pro rata share of such
Revolving Loans by 9:00 A.M., New York City time on the Closing Date and has not
indicated to the Administrative Agent that it will not be funding its pro rata share of such
Revolving Loans, the Administrative Agent is authorized to advance such
Revolving Lender’s pro rata share of such
Revolving Loans; provided further, that such
Revolving Lender shall fund its pro rata share of such
Revolving Loans no later than 12:00 Noon, New York City time on the Closing
Date.  Such borrowing will then be made available to the Borrower by the
Administrative Agent crediting the account of the Borrower on the books of such
office with the aggregate of the amounts made available to the Administrative
Agent by the Revolving Lenders and in like funds as received by the
Administrative Agent.

     

    2.6. 
    Swingline
Commitment. 
(a) Subject to the terms and conditions hereof, the Swingline Lender agrees to
make a portion of the credit otherwise available to the Borrower under the
Revolving Commitments from time to time during the Revolving Commitment Period
by making swing line loans (“Swingline Loans”) to
the Borrower; provided, that (i)
the aggregate principal amount of Swingline Loans outstanding at any time shall
not exceed the Swingline Commitment then in effect (notwithstanding that the
Swingline Loans outstanding at any time, when aggregated with the Swingline
Lender’s other outstanding Revolving Loans, may exceed the Swingline Commitment
then in effect) and (ii) the Borrower shall not request, and the Swingline
Lender shall not make, any Swingline Loan if, after giving effect to the making
of such Swingline Loan, the aggregate amount of the Available Revolving
Commitments would be less than zero.  During the Revolving Commitment
Period, the Borrower may use the Swingline Commitment by borrowing, repaying and
reborrowing, all in accordance with the terms and conditions hereof. 
Swingline Loans shall be ABR Loans only.

     

    (b)       The
Borrower shall repay to the Swingline Lender the then unpaid principal amount of
each Swingline Loan on the earlier of the Revolving Termination Date and the
first date after such Swingline Loan is made that is the 15th or last day of a
calendar month and is at least two Business Days after such Swingline Loan is
made; provided,
that on each date that a Revolving Loan is borrowed, the Borrower shall repay
all Swingline Loans then outstanding.

    
      
         

      

      
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    2.7. 
    Procedure for Swingline
Borrowing; Refunding of Swingline Loans. 
(a)Whenever the Borrower desires that the Swingline Lender make Swingline Loans
it shall give each of the Swingline Lender and the Administrative Agent
irrevocable fax or .pdf notice signed by the authorized signatories (which
written notice must be received by each of the Swingline Lender and the
Administrative Agent not later than 1:00 P.M., New York City time, on the
proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii) the
requested Borrowing Date (which shall be a Business Day during the Revolving
Commitment Period).  Each borrowing under the Swingline Commitment shall be
in an amount equal to $500,000 or a whole multiple of $100,000 in excess
thereof.  Not later than 3:00 P.M., New York City time, the Swingline
Lender shall make the proceeds of such Swingline Loan available to the Borrower
on the requested Borrowing Date by depositing such proceeds in the account of
the Borrower on such Borrowing Date in immediately available funds.

     

    (b)       The
Swingline Lender, at any time and from time to time in its sole and absolute
discretion may, on behalf of the Borrower (which hereby irrevocably directs the
Swingline Lender to act on its behalf), on one Business Day’s notice given by
the Swingline Lender no later than 12:00 Noon, New York City time, to the
Administrative Agent, who shall then request each Revolving Lender to make, and
each Revolving Lender hereby agrees to make, a Revolving Loan, in an amount
equal to such Revolving Lender’s Revolving Percentage of the aggregate amount of
the Swingline Loans (the “Refunded Swingline
Loans”) outstanding on the date of such notice, to repay the Swingline
Lender.  Each Revolving Lender shall make the amount of such Revolving Loan
available to the Administrative Agent at the Funding Office in immediately
available funds, not later than 10:00 A.M., New York City time, one Business Day
after the date of such notice.  The proceeds of such Revolving Loans shall
be immediately made available by the Administrative Agent to the Swingline
Lender for application by the Swingline Lender to the repayment of the Refunded
Swingline Loans.  The Borrower irrevocably authorizes the Swingline Lender,
following notice by the Swingline Lender to the Administrative Agent, to charge
the Borrower’s accounts (up to the amount available in each such account) in
order to immediately pay the amount of such Refunded Swingline Loans to the
extent amounts received from the Revolving Lenders are not sufficient to repay
in full such Refunded Swingline Loans.

     

    (c)        If
prior to the time a Revolving Loan would have otherwise been made pursuant to
Section 2.7(b), one of the events described in Section 8.1(f) shall have
occurred and be continuing with respect to the Borrower or if for any other
reason, as determined by the Swingline Lender in its sole discretion, Revolving
Loans may not be made as contemplated by Section 2.7(b), each Revolving Lender
shall, on the date such Revolving Loan was to have been made pursuant to the
notice referred to in Section 2.7(b), purchase for cash an undivided
participating interest in the then outstanding Swingline Loans by paying to the
Swingline Lender (through the Administrative Agent) an amount (the “Swingline Participation
Amount”) equal to (i) such Revolving Lender’s Revolving Percentage times (ii) the sum of
the aggregate principal amount of Swingline Loans then outstanding that were to
have been repaid with such Revolving Loans.

     

    (d)       Whenever,
at any time after the Swingline Lender has received from any Revolving Lender
(through the Administrative Agent) such Lender’s Swingline Participation Amount,
the Swingline Lender receives any payment on account of the Swingline Loans, the
Swingline Lender will distribute (through the Administrative Agent) to such
Lender  its Swingline Participation Amount (appropriately adjusted, in
the case of interest payments, to reflect the period of time during which such
Lender’s participating interest was outstanding and funded and, in the case of
principal and interest payments, to reflect such Lender’s pro rata portion of such
payment if such payment is not sufficient to pay the principal of and interest
on all Swingline Loans then due); provided, however, that in the
event that such payment received by the Swingline Lender is required to be
returned, such Revolving Lender will return (through the Administrative Agent)
to the Swingline Lender any portion thereof previously distributed to it by the
Swingline Lender.

    
      
         

      

      
        26

        
          

        

      

      
         

      

    

    (e)        Each
Revolving Lender’s obligation to make the Loans referred to in Section 2.7(b)
and to purchase participating interests pursuant to Section 2.7(c) shall be
absolute and unconditional and shall not be affected by any circumstance,
including (i) any setoff, counterclaim, recoupment, defense or other right that
such Revolving Lender or the Borrower may have against the Swingline Lender, the
Borrower or any other Person for any reason whatsoever, (ii) the occurrence or
continuance of a Default or an Event of Default or the failure to satisfy any of
the other conditions specified in Section 5, (iii) any adverse change in the
condition (financial or otherwise) of the Borrower, (iv) any breach of this
Agreement or any other Loan Document by the Borrower, any other Loan Party or
any other Revolving Lender or (v) any other circumstance, happening or event
whatsoever, whether or not similar to any of the foregoing.

     

    2.8. 
    Commitment Fees,
etc. 
(a) The Borrower agrees to pay to the Administrative Agent for the account of
each Revolving Lender a commitment fee for the period from and including the
date hereof to the last day of the Revolving Commitment Period, computed at the
Commitment Fee Rate on the average daily amount of the Available Revolving
Commitment of such Lender during the period for which payment is made, payable
quarterly in arrears on each Fee Payment Date, commencing on the first such date
to occur after the date hereof.

     

    (b)   The
Borrower agrees to pay to the Administrative Agent the fees in the amounts and
on the dates as set forth in any fee agreements with the Administrative Agent
and to perform any other obligations contained therein.

     

    2.9. 
    Termination or Reduction of
Revolving Commitments. 
The Borrower shall have the right, upon not less than three Business Days’
notice to the Administrative Agent, to terminate the Revolving Commitments or,
from time to time, to reduce the amount of the Revolving Commitments; provided, that no
such termination or reduction of Revolving Commitments shall be permitted if,
after giving effect thereto and to any prepayments of the Revolving Loans and
Swingline Loans made on the effective date thereof, the Total Revolving
Extensions of Credit would exceed the Total Revolving Commitments.  Each
notice delivered by the Borrower pursuant to this Section 2.9 shall be
irrevocable; provided, that such
notice may state that it is conditioned upon the effectiveness of other credit
facilities, settlement of an offering of securities or a Change in Control, in
each case, which such notice may be revoked by the Borrower (by notice to the
Administrative Agent no later than  10:00 A.M., New York City time, on
the specified effective date) if such condition is not satisfied.  Any such
reduction shall be in an amount equal to $1,000,000, or a whole multiple
thereof, and shall reduce permanently the Revolving Commitments then in
effect.

     

    2.10. 
  Optional
Prepayments. 
The Borrower may at any time and from time to time prepay the Loans, in whole or
in part, without premium or penalty, upon notice delivered to the Administrative
Agent no later than 12:00 Noon, New York City time, three Business Days prior
thereto, in the case of Eurodollar Loans, and no later than 12:00 Noon, New York
City time, one Business Day prior thereto, in the case of ABR Loans, which
notice shall specify the date and amount of prepayment and whether the
prepayment is of Eurodollar Loans or ABR Loans; provided, that if a
Eurodollar Loan is prepaid on any day other than the last day of the Interest
Period applicable thereto, the Borrower shall also pay any amounts owing
pursuant to Section 2.20.  Each notice delivered by the Borrower pursuant
to this Section 2.10 shall be irrevocable; provided, that such
notice may state that it is conditioned upon the effectiveness of other credit
facilities, settlement of an offering of securities or a Change in Control, in
each case, which such notice may be revoked by the Borrower (by notice to the
Administrative Agent no later than 10:00 A.M., New York City time, on the
specified effective date) if such condition is not satisfied.  Upon receipt
of any such notice the Administrative Agent shall promptly notify each relevant
Lender thereof.  If any such notice is given, the amount specified in such
notice shall be due and payable on the date specified therein, together with
(except in the case of Revolving Loans that are ABR Loans and Swingline Loans)
accrued interest to such date on the amount prepaid.  Partial prepayments
of Term Loans shall be in an aggregate principal amount of $1,000,000 (or, if
the Term Loans then outstanding are less than $1,000,000, such lesser
amount).  Partial prepayments of Swingline Loans shall be in an aggregate
principal amount of $100,000 (or, if the Swingline Loans then outstanding are
less than $100,000, such lesser amount).  Amounts to be applied in
connection with prepayments and Commitment reductions made pursuant to this
Section 2.10 shall be applied, in the case of Term Loans, to the prepayment of
the Term Loans in accordance with Section 2.17(b) and, in the case of Commitment
reductions, to reduce permanently the Revolving Commitments.

    
      
         

      

      
        27

        
          

        

      

      
         

      

    

    2.11. 
  Mandatory
Prepayments and Commitment Reductions. 
(a)  If any Indebtedness shall be incurred by the Borrower or any of
its Subsidiaries (excluding any Indebtedness incurred in accordance with Section
7.2, other than paragraph (s) thereof), an amount equal to 100% of the Net Cash
Proceeds thereof shall be applied within one Business Day of the date of such
issuance or incurrence toward the prepayment of the Term Loans and the reduction
of the Revolving Commitments as set forth in Section 2.11(d).

     

    (b)       If
on any date the Borrower or any of its Subsidiaries shall receive Net Cash
Proceeds from any Asset Sale or Recovery Event then, unless a Reinvestment
Notice shall be delivered in respect thereof, such Net Cash Proceeds shall be
applied within one Business Day of such date toward the prepayment of the Term
Loans and the reduction of the Revolving Commitments as set forth in Section
2.11(d); provided, that
notwithstanding the foregoing, (i) the aggregate Net Cash Proceeds of Asset
Sales and Recovery Events that may be excluded from the foregoing requirement
pursuant to a Reinvestment Notice shall not exceed $5,000,000 in any fiscal year
of the Borrower and (ii) on each Reinvestment Prepayment Date, an amount equal
to the Reinvestment Prepayment Amount with respect to the relevant Reinvestment
Event shall be applied toward the prepayment of the Term Loans and the reduction
of the Revolving Commitments as set forth in Section 2.11(d).

     

    (c)        If,
for any fiscal year of the Borrower commencing with the fiscal year ending
December 31, 2011, there shall be Excess Cash Flow, the Borrower shall, on the
relevant Excess Cash Flow Application Date, prepay an aggregate amount of Loans
in an amount equal to (A) the ECF Percentage of Excess Cash Flow for the fiscal
year covered by the financial statements for such fiscal year (such prepayment
to be applied as set forth in Section 2.11(d) below), minus (B) solely with
respect to the fiscal year ending December 31, 2011, $7,500,000.  Each such
prepayment shall be made on a date (an “Excess Cash Flow Application
Date”) no later than five Business Days after the earlier of (i) the date
on which the financial statements of the Borrower referred to in Section 6.1(a),
for the fiscal year with respect to which such prepayment is made, are required
to be delivered to the Lenders and (ii) the date such financial statements are
actually delivered.

     

    (d)       Amounts
to be applied in connection with prepayments and Commitment reductions made
pursuant to Section 2.11 shall be applied, first, to the
prepayment of the Term Loans in accordance with Section 2.17(b) and, second, to reduce
permanently the Revolving Commitments.  Any such reduction of the Revolving
Commitments shall be accompanied by prepayment of the Revolving Loans and/or
Swingline Loans to the extent, if any, that the Total Revolving Extensions of
Credit exceed the amount of the Total Revolving Commitments as so reduced; provided, that if the
aggregate principal amount of Revolving Loans and Swingline Loans then
outstanding is less than the amount of such excess (because L/C Obligations
constitute a portion thereof), the Borrower shall, to the extent of the balance
of such excess, replace outstanding Letters of Credit and/or deposit an amount
in cash in a cash collateral account established with the Administrative Agent
for the benefit of the Lenders on terms and conditions satisfactory to the
Administrative Agent.  The application of any prepayment pursuant to
Section 2.11 shall be made, first, to ABR Loans
and, second, to
Eurodollar Loans.  Each prepayment of the Loans under Section 2.11 (except
in the case of Revolving Loans that are ABR Loans and Swingline Loans) shall be
accompanied by accrued interest to the date of such prepayment on the amount
prepaid.

    
      
         

      

      
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    2.12. 
  Conversion
and Continuation Options. 
(a)  The Borrower may elect from time to time to convert Eurodollar
Loans to ABR Loans by giving the Administrative Agent prior irrevocable notice
in the form of Exhibit G of such election no later than 11:00 A.M., New York
City time, on the Business Day preceding the proposed conversion date; provided, that any
such conversion of Eurodollar Loans may only be made on the last day of an
Interest Period with respect thereto.  The Borrower may elect from time to
time to convert ABR Loans to Eurodollar Loans by giving the Administrative Agent
prior irrevocable notice in the form of Exhibit G of such election no later than
11:00 A.M., New York City time, on the third Business Day preceding the proposed
conversion date (which notice shall specify the length of the initial Interest
Period therefor); provided, that no ABR
Loan under a particular Facility may be converted into a Eurodollar Loan when
any Event of Default has occurred and is continuing and the Administrative Agent
or the Majority Facility Lenders in respect of such Facility have determined in
its or their sole discretion not to permit such conversions.  Upon receipt
of any such notice the Administrative Agent shall promptly notify each relevant
Lender thereof.

     

    (b)       Any
Eurodollar Loan may be continued as such upon the expiration of the then current
Interest Period with respect thereto by the Borrower giving irrevocable notice
to the Administrative Agent in the form of Exhibit G, in accordance with the
applicable provisions of the term “Interest Period” set forth in Section 1.1, of
the length of the next Interest Period to be applicable to such Loans; provided, that no
Eurodollar Loan under a particular Facility may be continued as such when any
Event of Default has occurred and is continuing and the Administrative Agent has
or the Majority Facility Lenders in respect of such Facility have determined in
its or their sole discretion not to permit such continuations; provided further, that if the
Borrower shall fail to give any required notice as described above in this
paragraph or if such continuation is not permitted pursuant to the preceding
proviso such Loans shall be automatically converted to ABR Loans on the last day
of such then expiring Interest Period.  Upon receipt of any such notice the
Administrative Agent shall promptly notify each relevant Lender
thereof.

     

    2.13. 
  Limitations on Eurodollar
Tranches. 
Notwithstanding anything to the contrary in this Agreement, all borrowings,
conversions and continuations of Eurodollar Loans and all selections of Interest
Periods shall be in such amounts and be made pursuant to such elections so that
no more than ten Eurodollar Tranches shall be outstanding at any one
time.

     

    2.14. 
  Interest
Rates and Payment Dates. 
(a)  Each Eurodollar Loan shall bear interest for each day during each
Interest Period with respect thereto at a rate per annum equal to the Eurodollar
Rate determined for such day plus the Applicable Margin.

     

    (b)       Each
ABR Loan shall bear interest at a rate per annum equal to the ABR plus the
Applicable Margin.

     

    (c)        (i)
If all or a portion of the principal amount of any Loan or Reimbursement
Obligation shall not be paid when due (whether at the stated maturity, by
acceleration or otherwise), all outstanding Loans and Reimbursement Obligations
(whether or not overdue) shall bear interest at a rate per annum equal to (x) in
the case of the Loans, the rate that would otherwise be applicable thereto
pursuant to the foregoing provisions of this Section plus 2% or (y) in the
case of Reimbursement Obligations, the rate applicable to ABR Loans under the
Revolving Facility plus 2%, and (ii) if
all or a portion of any interest payable on any Loan or Reimbursement Obligation
or any commitment fee or other amount payable hereunder shall not be paid when
due (whether at the stated maturity, by acceleration or otherwise), such overdue
amount shall bear interest at a rate per annum equal to the rate then applicable
to ABR Loans under the relevant Facility plus 2% (or, in the
case of any such other amounts that do not relate to a particular Facility, the
rate then applicable to ABR Loans under the Revolving Facility plus 2%), in each
case, with respect to clauses (i) and (ii) above, from the date of such
non-payment until such amount is paid in full (as well after as before
judgment).

    
      
         

      

      
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    (d)       Interest
shall be payable in arrears on each Interest Payment Date; provided, that
interest accruing pursuant to paragraph (c) of this Section shall be payable
from time to time on demand.

     

    2.15. 
  Computation of Interest and
Fees. 
(a)  Interest and fees payable pursuant hereto shall be calculated on
the basis of a 360-day year for the actual days elapsed, except that, with
respect to ABR Loans the rate of interest on which is calculated on the basis of
the Prime Rate, the interest thereon shall be calculated on the basis of a 365-
(or 366-, as the case may be) day year for the actual days elapsed.  The
Administrative Agent shall as soon as practicable notify the Borrower and the
relevant Lenders of each determination of a Eurodollar Rate.  Any change in
the interest rate on a Loan resulting from a change in the ABR or the Eurodollar
Rate shall become effective as of the opening of business on the day on which
such change becomes effective.  The Administrative Agent shall as soon as
practicable notify the Borrower and the relevant Lenders of the effective date
and the amount of each such change in interest rate.

     

    (b)       Each
determination of an interest rate by the Administrative Agent pursuant to any
provision of this Agreement shall be conclusive and binding on the Borrower and
the Lenders in the absence of manifest error.  The Administrative Agent
shall, at the request of the Borrower, deliver to the Borrower a statement
showing the quotations used by the Administrative Agent in determining any
interest rate pursuant to Section 2.14(a).

     

    2.16. 
  Inability
to Determine Interest Rate. 
If prior to the first day of any Interest Period:

     

    (a)        the
Administrative Agent shall have determined (which determination shall be
conclusive and binding upon the Borrower in the absence of manifest error) that,
by reason of circumstances affecting the relevant market, adequate and
reasonable means do not exist for ascertaining the Eurodollar Rate for such
Interest Period, or

     

    (b)       the
Administrative Agent shall have received notice from the Majority Facility
Lenders in respect of the relevant Facility that the Eurodollar Rate determined
or to be determined for such Interest Period will not adequately and fairly
reflect the cost to such Lenders (as conclusively certified by such Lenders) of
making or maintaining their affected Loans during such Interest
Period,

     

    the
Administrative Agent shall give telecopy or telephonic notice thereof to the
Borrower and the relevant Lenders as soon as practicable thereafter.  If
such notice is given (x) any Eurodollar Loans under the relevant Facility
requested to be made on the first day of such Interest Period shall be made as
ABR Loans, (y) any Loans under the relevant Facility that were to have been
converted on the first day of such Interest Period to Eurodollar Loans shall be
continued as ABR Loans and (z) any outstanding Eurodollar Loans under the
relevant Facility shall be converted, on the last day of the then-current
Interest Period, to ABR Loans.  Until such notice has been withdrawn by the
Administrative Agent, no further Eurodollar Loans under the relevant Facility
shall be made or continued as such, nor shall the Borrower have the right to
convert Loans under the relevant Facility to Eurodollar Loans.

     

    2.17. 
  Payments
Generally; Pro Rata Treatment; Sharing of Set-offs. 
(a)  Each borrowing by the Borrower from the Lenders hereunder, each
payment by the Borrower on account of any commitment fee and any reduction of
the Commitments of the Lenders shall be made pro rata according to the
respective Term Percentages or Revolving Percentages, as the case may be, of the
relevant Lenders.

    
      
         

      

      
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    (b)       Each
payment (including each prepayment) by the Borrower on account of principal of
and interest on the Term Loans shall be made pro rata according to the
respective outstanding principal amounts of the Term Loans then held by the Term
Lenders.  The amount of each principal prepayment of the Term Loans shall
be applied to reduce the then remaining installments of the Term Loans, pro rata based upon the
respective then remaining principal amounts thereof.  Except as otherwise
may be agreed by the Administrative Agent and the Required Lenders, any
prepayment of Loans shall be applied to the then outstanding Term Loans on a pro
rata basis regardless of Type.  Amounts prepaid on account of the Term
Loans may not be reborrowed.

     

    (c)        Each
payment (including each prepayment) by the Borrower on account of principal of
and interest on the Revolving Loans shall be made pro rata according to the
respective outstanding principal amounts of the Revolving Loans then held by the
Revolving Lenders.

     

    (d)       All
payments (including prepayments) to be made by the Borrower hereunder, whether
on account of principal, interest, fees or otherwise, shall be made without
setoff or counterclaim and shall be made prior to 12:00 Noon, New York City
time, on the due date thereof to the Administrative Agent, for the account of
the Lenders, at the Funding Office, in Dollars and in immediately available
funds.  The Administrative Agent shall distribute such payments to each
relevant Lender promptly upon receipt in like funds as received, net of any
amounts owing by such Lender pursuant to Section 9.7.  If any payment
hereunder (other than payments on the Eurodollar Loans) becomes due and payable
on a day other than a Business Day, such payment shall be extended to the next
succeeding Business Day.  If any payment on a Eurodollar Loan becomes due
and payable on a day other than a Business Day, the maturity thereof shall be
extended to the next succeeding Business Day unless the result of such extension
would be to extend such payment into another calendar month, in which event such
payment shall be made on the immediately preceding Business Day.  In the
case of any extension of any payment of principal pursuant to the preceding two
sentences, interest thereon shall be payable at the then applicable rate during
such extension.

     

    (e)        Unless
the Administrative Agent shall have been notified in writing by any Lender prior
to a borrowing that such Lender will not make the amount that would constitute
its share of such borrowing available to the Administrative Agent, the
Administrative Agent may assume that such Lender is making such amount available
to the Administrative Agent, and the Administrative Agent may, in reliance upon
such assumption, make available to the Borrower a corresponding amount.  If
such amount is not made available to the Administrative Agent by the required
time on the Borrowing Date therefor, such Lender shall pay to the Administrative
Agent, on demand, such amount with interest thereon, at a rate equal to the
greater of (i) the Federal Funds Rate and (ii) a rate determined by the
Administrative Agent in accordance with banking industry rules on interbank
compensation, for the period until such Lender makes such amount immediately
available to the Administrative Agent.  A certificate of the Administrative
Agent submitted to any Lender with respect to any amounts owing under this
paragraph shall be conclusive in the absence of manifest error.  If such
Lender’s share of such borrowing is not made available to the Administrative
Agent by such Lender within three Business Days after such Borrowing Date, the
Administrative Agent shall also be entitled to recover such amount with interest
thereon at the rate per annum applicable to ABR Loans under the relevant
Facility, on demand, from the Borrower.

     

    (f)        Unless
the Administrative Agent shall have been notified in writing by the Borrower
prior to the date of any payment due to be made by the Borrower hereunder that
the Borrower will not make such payment to the Administrative Agent, the
Administrative Agent may assume that the Borrower is making such payment, and
the Administrative Agent may, but shall not be required to, in reliance upon
such assumption, make available to the Lenders their respective pro rata shares of a
corresponding amount.  If such payment is not made to the Administrative
Agent by the Borrower within three Business Days after such due date, the
Administrative Agent shall be entitled to recover, on demand, from each Lender
to which any amount which was made available pursuant to the preceding sentence,
such amount with interest thereon at the rate per annum equal to the daily
average Federal Funds Rate.  Nothing herein shall be deemed to limit the
rights of the Administrative Agent or any Lender against the
Borrower.

    
      
         

      

      
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    (g)       If
any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.4, 2.6, 3.1, 2.17(e), 2.17(f) or 9.7, then the Administrative Agent
may, in its discretion and notwithstanding any contrary provision hereof, (i)
apply any amounts thereafter received by the Administrative Agent for the
account of such Lender for the benefit of the Administrative Agent, the
Swingline Lender or the Issuing Lender to satisfy such Lender’s obligations to
it under such Section until all such unsatisfied obligations are fully paid,
and/or (ii) hold any such amounts in a segregated account as cash collateral
for, and application to, any future funding obligations of such Lender under any
such Section, in the case of each of clauses (i) and (ii) above, in any order as
determined by the Administrative Agent in its discretion.

     

    2.18. 
  Requirements of
Law. 
(a)  If the adoption of or any change in any Requirement of Law or in
the interpretation or application thereof or compliance by any Lender with any
request or directive (whether or not having the force of law) from any central
bank or other Governmental Authority made subsequent to the date
hereof:

     

    (i)           shall
subject any Lender to any tax of any kind whatsoever with respect to this
Agreement, any Letter of Credit, any Application or any Eurodollar Loan made by
it, or change the basis of taxation of payments to such Lender in respect
thereof (except for the excluded taxes described in the first sentence of
Section 2.19 and changes in the rate of tax on the overall net income of such
Lender);

     

    (ii)          shall
impose, modify or hold applicable any reserve, special deposit, compulsory loan
or similar requirement against assets held by, deposits or other liabilities in
or for the account of, advances, loans or other extensions of credit by, or any
other acquisition of funds by, any office of such Lender that is not otherwise
included in the determination of the Eurodollar Rate; or

     

    (iii)         shall
impose on such Lender any other condition;

     

    and the
result of any of the foregoing is to increase the cost to such Lender, by an
amount that such Lender deems to be material, of making, converting into,
continuing or maintaining Eurodollar Loans (or, in the case of (i), any Loan) or
issuing or participating in Letters of Credit, or to reduce any amount
receivable hereunder in respect thereof, then, in any such case, the Borrower
shall promptly pay such Lender, within 10 days after receipt of an invoice
therefor, any additional amounts necessary to compensate such Lender for such
increased cost or reduced amount receivable.  If any Lender becomes
entitled to claim any additional amounts pursuant to this paragraph, it shall
promptly notify the Borrower (with a copy to the Administrative Agent) of the
event by reason of which it has become so entitled.

     

    (b)       If
any Lender shall have determined that the adoption of or any change in any
Requirement of Law regarding capital adequacy or in the interpretation or
application thereof or compliance by such Lender or any corporation controlling
such Lender with any request or directive regarding capital adequacy (whether or
not having the force of law) from any Governmental Authority made subsequent to
the date hereof shall have the effect of reducing the rate of return on such
Lender’s or such corporation’s capital as a consequence of its obligations
hereunder or under or in respect of any Letter of Credit to a level below that
which such Lender or such corporation could have achieved but for such adoption,
change or compliance (taking into consideration such Lender’s or such
corporation’s policies with respect to capital adequacy) by an amount deemed by
such Lender to be material, then from time to time, after submission by such
Lender to the Borrower (with a copy to the Administrative Agent) of a written
request therefor, the Borrower shall pay to such Lender such additional amount
or amounts as will compensate such Lender or such corporation for such
reduction.

    
      
         

      

      
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    (c)        A
certificate as to any additional amounts payable pursuant to this Section
submitted by any Lender to the Borrower (with a copy to the Administrative
Agent) shall be conclusive in the absence of manifest error. 
Notwithstanding anything to the contrary in this Section, the Borrower shall not
be required to compensate a Lender pursuant to this Section for any amounts
incurred more than nine months prior to the date that such Lender notifies the
Borrower of such Lender’s intention to claim compensation therefor; provided, that if the
circumstances giving rise to such claim have a retroactive effect, then such
nine-month period shall be extended to include the period of such retroactive
effect.  The obligations of the Borrower pursuant to this Section shall
survive the termination of this Agreement and the payment of the Loans and all
other amounts payable hereunder.

     

    2.19. 
  Taxes. 
(a)  All payments made by or on behalf of any Loan Party under this
Agreement or any other Loan Document shall be made free and clear of, and
without deduction or withholding for or on account of, any present or future
income, stamp or other taxes, levies, imposts, duties, charges, fees, deductions
or withholdings, now or hereafter imposed, levied, collected, withheld or
assessed by any Governmental Authority, excluding net income taxes, franchise
taxes (imposed in lieu of net income taxes), branch-level income tax and branch
profits taxes imposed on the Administrative Agent or any Lender as a result of a
present or former connection between the Administrative Agent or such Lender and
the jurisdiction of the Governmental Authority imposing such tax or any
political subdivision or taxing authority thereof or therein (other than any
such connection arising solely from the Administrative Agent or such Lender
having executed, delivered or performed its obligations or received a payment
under, or enforced, this Agreement or any other Loan Document); provided, that if any
such non-excluded taxes, levies, imposts, duties, charges, fees, deductions or
withholdings (“Non-Excluded Taxes”)
or Other Taxes are required to be withheld from any amounts payable to the
Administrative Agent or any Lender as determined in good faith by the applicable
withholding agent, (i) such amounts shall be paid to the relevant Governmental
Authority in accordance with applicable law and (ii) the amounts so payable by
the applicable Loan Party to the Administrative Agent or such Lender shall be
increased to the extent necessary to yield to the Administrative Agent or such
Lender (after payment of all Non-Excluded Taxes and Other Taxes) interest or any
such other amounts payable hereunder at the rates or in the amounts specified in
this Agreement as if such withholding or deduction had not been made; provided further, however, that the
Borrower shall not be required to increase any such amounts payable to any
Lender with respect to any Non-Excluded Taxes (w) that are attributable to such
Lender’s failure to comply with the requirements of paragraph (e) or (f) of this
Section (x) that are United States withholding taxes imposed on amounts payable
to such Lender at the time such Lender becomes a party to this Agreement, or
designates a new lending office except to the extent that such Lender’s (or its
assignor if any) was entitled, at the time of such change in lending office (or
assignment), to receive additional amounts from the Borrower with respect to
such Non-Excluded Taxes pursuant to this paragraph or (y) that are imposed by
reason of Section 1471 or Section 1472 of the Code other than by reason of a
change in Law imposed after the date hereof (in the case of Section 1471 or 1472
of the Code, any future regulation or official interpretation of Section 1471 or
1472 of the Code as such sections are in effect as of the date hereof shall not
be considered a change in law imposed after the date hereof).

     

    (b)       In
addition, the Borrower shall pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.

    
      
         

      

      
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    (c)        Whenever
any Non-Excluded Taxes or Other Taxes are payable by the Borrower, as promptly
as possible thereafter the Borrower shall send to the Administrative Agent for
its own account or for the account of the relevant Lender, as the case may be, a
certified copy of an original official receipt received by the Borrower showing
payment thereof.  If (i) the Borrower fails to pay any Non-Excluded Taxes
or Other Taxes when due to the appropriate taxing authority, (ii) the Borrower
fails to remit to the Administrative Agent the required receipts or other
required documentary evidence or (iii) any Non-Excluded Taxes or Other Taxes are
imposed directly upon the Administrative Agent or any Lender, the Borrower shall
indemnify the Administrative Agent and the Lenders for any incremental taxes,
interest or penalties that may become payable by the Administrative Agent or any
Lender as a result of any such failure, in the case of (i) and (ii), or any such
direct imposition of tax, excluding interest and penalties caused by the willful
misconduct or gross negligence of the Administrative Agent or any Lender, in the
case of (iii).

     

    (d)       
Each Lender shall indemnify the Administrative Agent for the full amount of any
taxes, levies, imposts, duties, charges, fees, deductions, withholdings or
similar charges imposed by any Governmental Authority that are attributable to
such Lender and that are payable or paid by the Administrative Agent, together
with all interest, penalties, reasonable costs and expenses arising therefrom or
with respect thereto, as determined by the Administrative Agent in good faith. A
certificate as to the amount of such payment or liability delivered to any
Lender by the Administrative Agent shall be conclusive absent manifest
error.

     

    (e)        Any
Lender that is entitled to an exemption from or reduction of withholding tax or
backup withholding tax under the law of any applicable jurisdiction with respect
to payments under the Loan Documents shall deliver to the Borrower and the
Administrative Agent at any time or times reasonably requested by such Borrower
or the Administrative Agent, such properly completed and executed documentation
as prescribed by applicable law or reasonably requested by the Borrower or the
Administrative Agent to permit such payments to be made without such withholding
tax or backup withholding tax or at a reduced rate.

     

    Without
limiting the generality of the foregoing, any Lender that is not a “United
States Person” (as defined in Section 7701(a)(30) of the Code) (a “Non-U.S. Lender”)
shall, to the extent it is legally entitled to do so, deliver to the Borrower
and the Administrative Agent (in such number of copies as shall be requested by
the recipient) on or prior to the date on which such Non-U.S. Lender becomes a
Lender under this Agreement (and from time to time thereafter upon the request
of the Borrower or the Administrative Agent, but only if such Non-U.S. Lender is
legally entitled to do so), whichever of the following is
applicable:

    

    (i)           duly
completed signed originals of Internal Revenue Service Form W-8BEN (or any
successor forms) claiming eligibility for benefits of an income tax treaty to
which the United States is a party,

    

    (ii)          duly
completed signed originals of Internal Revenue Service Form W-8ECI (or any
successor forms),

    

    (iii)         in
the case of a Non-U.S. Lender claiming the benefits of the exemption for
portfolio interest under Section 881(c) of the Code, (x) a signed original
certificate, in substantially the form of Exhibit E-1, or any
other form approved by the Administrative Agent and the Borrower, to the effect
that such Non-U.S. Lender is not (A) a “bank” within the meaning of Section
881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrower within
the meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign
corporation” described in Section 881(c)(3)(C) of the Code, and that no payments
in connection with the Loan Documents are effectively connected with such
Non-U.S. Lender’s conduct of a U.S. trade or business and (y) duly completed
signed originals of Internal Revenue Service Form W-8BEN (or any successor
forms),

    
      
         

      

      
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    (iv)        to
the extent a Non-U.S. Lender is not the beneficial owner (for example, where the
Non-U.S. Lender is a partnership or participating Lender granting a typical
participation), a signed original Internal Revenue Service Form W-8IMY,
accompanied by a signed original Form W-8ECI, W-8BEN, a certificate in
substantially the form of Exhibit E-2, Exhibit E-3 or Exhibit E-4, as
applicable, Form W-9, and/or other certification documents from each beneficial
owner, as applicable; provided that, if the
Non-U.S. Lender is a partnership (and not a participating Lender) and one or
more partners of such Non-U.S. Lender are claiming the portfolio interest
exemption, such Non-U.S. Lender may provide a certificate, in substantially the
form of Exhibit
E-3, on behalf of such beneficial owner(s), or

    

    (v) any
other form prescribed by applicable laws as a basis for claiming exemption from
or a reduction in U.S. federal withholding tax duly completed together with such
supplementary documentation as may be prescribed by applicable requirements of
law to permit the Borrower and the Administrative Agent to determine the
withholding or deduction required to be made.

    

    Any
Lender that is a “United States person” (within the meaning of Section
7701(a)(30) of the Code) shall deliver to the Borrower and the Administrative
Agent on or prior to the date on which such Lender becomes a Lender under this
Agreement (and from time to time thereafter as prescribed by applicable law or
upon the request of the Borrower or the Administrative Agent), duly executed and
properly completed copies of Internal Revenue Service Form W-9 certifying that
it is not subject to backup withholding.

    

    Each
Lender shall, from time to time after the initial delivery by Lender of the
forms described above, whenever a lapse in time or change in such Lender’s
circumstances renders such forms, certificates or other evidence so delivered
obsolete, expired or inaccurate, promptly (1) deliver to the Borrower and the
Administrative Agent (in such number of copies as shall be requested by the
recipient) renewals, amendments or additional or successor forms, properly
completed and duly executed by such Lender, together with any other certificate
or statement of exemption required in order to confirm or establish such
Non-U.S. Lender’s status or that such Lender is entitled to an exemption from or
reduction in withholding tax or backup withholding tax  with respect
to payments under any Loan Document or (2) notify the Administrative Agent and
the Borrower of the inability of any previously delivered forms, certifications,
or other evidence (including invalidity due to a change in the Lender’s status
as the beneficial owner (for U.S. tax purposes) of any payments (or portions
thereof) due under the Loan Documents) and its inability to deliver any such
forms, certificates or other evidence.

    

    Each
Lender on or prior to the date on which such Lender becomes a Lender hereunder
and from time to time thereafter, either upon the request of the Borrower or the
Administrative Agent or its agents or upon the expiration or obsolescence of any
previously delivered documentation, shall furnish to the Borrower and the
Administrative Agent any documentation that is required under the Code or
applicable Treasury regulations (including any documentation that is required as
a result of any future regulation or official interpretation of Section 1471 or
1472 of the Code as in effect as of the date hereof ) to enable the Borrower or
the Administrative Agent to determine and execute its obligations, duties and
liabilities with respect to Section 1471 or 1472 of the Code, including but not
limited to any taxes it may be required to withhold in respect of  Section
1471 or 1472 of the Code.

    
      
         

      

      
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    (f)        A
Lender that is entitled to an exemption from or reduction of non-U.S.
withholding tax under the law of the jurisdiction in which the Borrower is
located, or any treaty to which such jurisdiction is a party, with respect to
payments under this Agreement shall deliver to the Borrower (with a copy to the
Administrative Agent), at the time or times prescribed by applicable law or
reasonably requested by the Borrower or the Administrative Agent, such properly
completed and executed documentation prescribed by applicable law as will permit
such payments to be made without withholding or at a reduced rate; provided, that such
Lender is legally entitled to complete, execute and deliver such documentation
and in such Lender’s judgment such completion, execution or submission would not
materially prejudice the legal position of such Lender.

     

    (g)       If
the Administrative Agent or any Lender determines, in its sole discretion, that
it has received a refund of any Non-Excluded Taxes or Other Taxes as to which it
has been indemnified by a Loan Party or with respect to which a Loan Party has
paid additional amounts pursuant to this Section 2.19, it shall pay over such
refund to such Loan Party (but only to the extent of indemnity payments made, or
additional amounts paid, by such Loan Party under this Section 2.19 with respect
to the Non-Excluded Taxes or Other Taxes giving rise to such refund), net of all
out-of-pocket expenses of the Administrative Agent or such Lender and without
interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund); provided, that such
Loan Party, upon the request of the Administrative Agent or such Lender, agrees
to repay the amount paid over to such Loan Party (plus any penalties, interest
or other charges imposed by the relevant Governmental Authority) to the
Administrative Agent or such Lender in the event the Administrative Agent or
such Lender is required to repay such refund to such Governmental Authority.
This paragraph shall not be construed to require the Administrative Agent or any
Lender to make available its tax returns (or any other information relating to
its taxes which it deems confidential) to any Loan Party or any other
Person.

     

    (h)       The
agreements in this Section shall survive the termination of this Agreement and
the payment of the Loans and all other amounts payable hereunder.

     

    2.20. 
  Indemnity. 
The Borrower agrees to indemnify each Lender for, and to hold each Lender
harmless from, any loss or expense that such Lender may sustain or incur as a
consequence of (a) default by the Borrower in making a borrowing of,
conversion into or continuation of Eurodollar Loans after the Borrower has given
a notice requesting the same in accordance with the provisions of this
Agreement, (b) default by the Borrower in making any prepayment of or conversion
from Eurodollar Loans after the Borrower has given a notice thereof in
accordance with the provisions of this Agreement or (c) the making of a
prepayment of Eurodollar Loans on a day that is not the last day of an Interest
Period with respect thereto.  Such indemnification may include an amount
equal to the excess, if any, of (i) the amount of interest that would have
accrued on the amount so prepaid, or not so borrowed, converted or continued,
for the period from the date of such prepayment or of such failure to borrow,
convert or continue to the last day of such Interest Period (or, in the case of
a failure to borrow, convert or continue, the Interest Period that would have
commenced on the date of such failure) in each case at the applicable rate of
interest for such Loans provided for herein (excluding, however, the Applicable
Margin included therein, if any) over (ii) the amount
of interest (as reasonably determined by such Lender) that would have accrued to
such Lender on such amount by placing such amount on deposit for a comparable
period with leading banks in the interbank eurodollar market.  A
certificate as to any amounts payable pursuant to this Section submitted to the
Borrower by any Lender shall be conclusive in the absence of manifest
error.  This covenant shall survive the termination of this Agreement and
the payment of the Loans and all other amounts payable hereunder.

     

    2.21. 
  Change of
Lending Office. 
Each Lender agrees that, upon the occurrence of any event giving rise to the
operation of Section 2.18 or 2.19(a) with respect to such Lender, it will, if
requested by the Borrower, use reasonable efforts (subject to overall policy
considerations of such Lender) to designate another lending office for any Loans
affected by such event with the object of avoiding the consequences of such
event; provided, that such
designation is made on terms that, in the sole judgment of such Lender, cause
such Lender and its lending office(s) to suffer no economic, legal or regulatory
disadvantage; provided further, that nothing
in this Section shall affect or postpone any of the obligations of the Borrower
or the rights of any Lender pursuant to Section 2.18 or
2.19(a).

    
      
         

      

      
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    2.22. 
  Mitigation
Obligations; Replacement of Lenders.

     

    (a)    If
any Lender requests compensation under Section 2.18, or if the Borrower is
required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 2.19(a), then such
Lender shall use reasonable efforts to designate a different lending office for
funding or booking its Loans hereunder or to assign its rights and obligations
hereunder to another of its offices, branches or affiliates, if, in the judgment
of such Lender, such designation or assignment (i) would eliminate or reduce
amounts payable pursuant to Section 2.18 or 2.19(a), as the case may be, in the
future and (ii) would not subject such Lender to any unreimbursed cost or
expense and would not otherwise be disadvantageous to such Lender.  The
Borrower hereby agrees to pay all reasonable costs and expenses incurred by any
Lender in connection with any such designation or assignment.

     

    (b)       If
any Lender requests compensation under Section 2.18, or if the Borrower is
required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 2.19(a), or if any
Lender becomes a Defaulting Lender, then the Borrower may, at its sole expense
and effort, upon notice to such Lender and the Administrative Agent, require
such Lender to assign and delegate, without recourse (in accordance with and
subject to the restrictions contained in Section 10.6), all its interests,
rights and obligations under this Agreement to an assignee that shall assume
such obligations (which assignee may be another Lender, if a Lender accepts such
assignment); provided, that (i)
the Borrower shall have received the prior written consent of the Administrative
Agent (and if a Commitment is being assigned, the Issuing Lender), which consent
shall not unreasonably be withheld, (ii) such Lender shall have received payment
of an amount equal to the outstanding principal of its Loans and participations
in L/C Disbursements and Swingline Loans, accrued interest thereon, accrued fees
and all other amounts payable to it hereunder, from the assignee (to the extent
of such outstanding principal and accrued interest and fees) or the Borrower (in
the case of all other amounts) and (iii) in the case of any such assignment
resulting from a claim for compensation under Section 2.18 or payments required
to be made pursuant to Section 2.19(a), such assignment will result in a
reduction in such compensation or payments.  A Lender shall not be required
to make any such assignment and delegation if, prior thereto, as a result of a
waiver by such Lender or otherwise, the circumstances entitling the Borrower to
require such assignment and delegation cease to apply.

     

    2.23. 
  Defaulting
Lenders. 
Notwithstanding any provision of this Agreement to the contrary, if any Lender
becomes a Defaulting Lender, then the following provisions shall apply for so
long as such Lender is a Defaulting Lender:

     

    (a)        fees
shall cease to accrue on the unfunded portion of the Commitment of such
Defaulting Lender pursuant to Section 2.8(a);

     

    (b)       the
Commitment and Revolving Credit Exposure of such Defaulting Lender shall not be
included in determining whether the Required Lenders have taken or may take any
action hereunder (including any consent to any amendment, waiver or other
modification pursuant to Section 10.1); provided, that this
clause (b) shall not apply to the vote of a Defaulting Lender in the case of an
amendment, waiver or other modification requiring the consent of such Lender or
each Lender affected thereby;

     

    (c)       if
any Swingline Exposure or L/C Obligation exists at the time such Lender becomes
a Defaulting Lender then:

    
      
         

      

      
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    (i)           all
or any part of the Swingline Exposure and L/C Obligation of such Defaulting
Lender shall be reallocated among the non-Defaulting Lenders in accordance with
their respective Aggregate Exposure Percentages but only to the extent the sum
of all non-Defaulting Lenders’ Revolving Credit Exposures plus such Defaulting
Lender’s Swingline Exposure and L/C Obligation does not exceed the total of all
non-Defaulting Lenders’ Commitments; 

     

    (ii)          if
the reallocation described in clause (i) above cannot, or can only partially, be
effected, the Borrower shall following notice by the Administrative Agent (x)
first, within three Business Days following notice by the Administrative Agent,
prepay such Swingline Exposure and (y) second, within three Business Days
following notice by the Administrative Agent, cash collateralize for the benefit
of the Issuing Lender only the Borrower’s obligations corresponding to such
Defaulting Lender’s L/C Obligation (after giving effect to any partial
reallocation pursuant to clause (i) above) in accordance with the procedures set
forth in Section 8 for so long as such L/C Obligation is
outstanding;

     

    (iii)         if
the Borrower cash collateralizes any portion of such Defaulting Lender’s L/C
Obligation pursuant to Section 2.23(c), the Borrower shall not be required to
pay any fees to such Defaulting Lender pursuant to Section 3.3(a) with respect
to such Defaulting Lender’s L/C Obligation during the period such Defaulting
Lender’s L/C Obligation is cash collateralized;

     

    (iv)         if
the L/C Obligation of the non-Defaulting Lenders is reallocated pursuant to
clause (i) above, then the fees payable to the Lenders pursuant to Section
2.8(a) and Section 3.3(a) shall be adjusted in accordance with such
non-Defaulting Lenders’ Aggregate Exposure Percentages; and

     

    (v)          if
all or any portion of such Defaulting Lender’s L/C Obligation is neither
reallocated nor cash collateralized pursuant to Section 2.23, then, without
prejudice to any rights or remedies of the Issuing Lender or any other Lender
hereunder, all facility fees that otherwise would have been payable to such
Defaulting Lender (solely with respect to the portion of such Defaulting
Lender’s Commitment that was utilized by such L/C Obligation) and letter of
credit fees payable under Section 3.3(a) with respect to such Defaulting
Lender’s L/C Obligation shall be payable to the Issuing Lender until and to the
extent that such L/C Obligation is reallocated and/or cash collateralized;
and

     

    (d)         so
long as such Lender is a Defaulting Lender, the Swingline Lender shall not be
required to fund any Swingline Loan and the Issuing Lender shall not be required
to issue, amend or increase any Letter of Credit, unless it is satisfied that
the related exposure and the Defaulting Lender’s then outstanding L/C Obligation
will be 100% covered by the Commitments of the non-Defaulting Lenders, including
obligations to participate in Swingline Loans and Letters of Credit, and/or cash
collateral will be provided by the Borrower in accordance with Section 2.23(c),
and participating interests in any newly made Swingline Loan or any newly issued
or increased Letter of Credit shall be allocated among non-Defaulting Lenders in
a manner consistent with Section 2.23(c)(i) (and such Defaulting Lender shall
not participate therein).

     

    If (i) a
Bankruptcy Event with respect to a Parent of any Lender shall occur following
the date hereof and for so long as such event shall continue or (ii) the
Swingline Lender or the Issuing Lender has a good faith belief that any Lender
has defaulted in fulfilling its obligations under one or more other agreements
in which such Lender commits to extend credit, then in the event that such
Lender becomes a Defaulting Lender, the re-allocation described in clause (c)(i)
above or the other procedures described in this Section 2.23 shall apply to the
Swingline Exposure and L/C Obligations of such Lender or, solely with respect to
a request for Swingline Loans, the Borrower shall make a request for Swingline
Loans on a “net” basis taking into account the unavailability of such Defaulting
Lender’s commitment.

    
      
         

      

      
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    In the
event that the Administrative Agent, the Borrower, the Swingline Lender and the
Issuing Lender each agrees that a Defaulting Lender has adequately remedied all
matters that caused such Lender to be a Defaulting Lender, then the Swingline
Exposure and L/C Obligation of the Lenders shall be readjusted to reflect the
inclusion of such Lender’s Commitment and on such date such Lender shall
purchase at par such of the Loans of the other Lenders (other than Swingline
Loans) as the Administrative Agent shall determine may be necessary in order for
such Lender to hold such Loans in accordance with its Aggregate Exposure
Percentage.

     

    SECTION
3.     LETTERS OF CREDIT

     

    3.1. 
    L/C
Commitment. 
(a)  Subject to the terms and conditions hereof, the Issuing Lender,
in reliance on the agreements of the other Revolving Lenders set forth in
Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”)
for the account of the Borrower or the Subsidiaries listed on Schedule 3.1 (as
such schedule may be updated from time to time to the satisfaction of the
Issuing Lender), and to amend or extend Letters of Credit previously issued by
it, on any Business Day during the Revolving Commitment Period in such form as
may be approved from time to time by the Issuing Lender; provided, that the
Issuing Lender shall have no obligation to issue any Letter of Credit if, after
giving effect to such issuance, (i) the L/C Obligations would exceed the L/C
Commitment or (ii) the aggregate amount of the Available Revolving Commitments
would be less than zero.  Each Letter of Credit shall (i) be denominated in
Dollars and (ii) expire no later than the earlier of (x) the first anniversary
of its date of issuance and (y) the date that is five Business Days prior to the
Revolving Termination Date unless such Letter of Credit shall be cash
collateralized or otherwise credit supported to the reasonable satisfaction of
the Administrative Agent and the Issuing Lender.  Any Letter of Credit with
a one-year term may provide for the renewal thereof for additional one-year
periods (which shall in no event extend beyond the date referred to in clause
(y) above); provided further, that in the
event any such Letter of Credit is renewed beyond the date referred to in clause
(y) above, such Letter of Credit shall be cash collateralized or otherwise
credit supported to the reasonable satisfaction of the Administrative Agent and
the Issuing Lender.

     

    (b)        The
Issuing Lender shall not at any time be obligated to issue or amend any Letter
of Credit if such issuance or amendment would conflict with, or cause the
Issuing Lender or any L/C Participant to exceed any limits imposed by, any
applicable Requirement of Law.

     

    3.2. 
     Procedure for Issuance and
Amendment of Letter of Credit. 
The Borrower may from time to time request that the Issuing Lender issue or
amend, as the case may be, a Letter of Credit by delivering to the Issuing
Lender and the Administrative Agent at their respective addresses for notices
specified herein an Application therefor, completed to the satisfaction of each
of the Issuing Lender and the Administrative Agent, and such other certificates,
documents and other papers and information as the Issuing Lender may
request.  Upon receipt of any Application, the Issuing Lender will process
such Application and the certificates, documents and other papers and
information delivered to it in connection therewith in accordance with its
customary procedures (including receiving information from the Administrative
Agent that there is sufficient availability under the L/C Commitment and the
Revolving Commitment) and shall promptly issue or amend, as applicable, the
Letter of Credit requested thereby (but in no event shall the Issuing Lender be
required to issue or amend any Letter of Credit earlier than three Business Days
after its receipt of the Application therefor and all such other certificates,
documents and other papers and information relating thereto) by issuing the
original of such Letter of Credit to the beneficiary thereof, amending an
existing Letter of Credit, or as otherwise may be agreed to by the Issuing
Lender and the Borrower.  The Issuing Lender shall furnish a copy of such
Letter of Credit to the Borrower promptly following the issuance or amendment
thereof.  The Issuing Lender shall promptly furnish to the Administrative
Agent, which shall in turn promptly furnish to the Lenders, notice of the
issuance or amendment of each Letter of Credit (including the amount
thereof).

    
      
         

      

      
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    3.3. 
     Fees and Other
Charges. 
(a)  The Borrower will pay a fee on all outstanding undrawn and
unexpired Letters of Credit at a per annum rate equal to the Applicable Margin
then in effect with respect to Eurodollar Loans under the Revolving Facility,
shared ratably among the Revolving Lenders and payable quarterly in arrears on
each Fee Payment Date after the issuance date.  In addition, the Borrower
shall pay to the Issuing Lender for its own account a fronting fee of 0.125% per
annum on the undrawn and unexpired amount of each Letter of Credit, payable
quarterly in arrears on each Fee Payment Date after the issuance date or
amendment date, as applicable.

     

    (b)       In
addition to the foregoing fees, the Borrower shall pay or reimburse the Issuing
Lender for such normal and customary costs and expenses as are incurred or
charged by the Issuing Lender in issuing, negotiating, effecting payment under,
amending or otherwise administering any Letter of Credit.

     

    3.4. 
    L/C
Participations. 
(a)  The Issuing Lender irrevocably agrees to grant and hereby grants
to each L/C Participant, and, to induce the Issuing Lender to issue Letters of
Credit, each L/C Participant irrevocably agrees to accept and purchase and
hereby accepts and purchases from the Issuing Lender, on the terms and
conditions set forth below, for such L/C Participant’s own account and risk an
undivided interest equal to such L/C Participant’s Revolving Percentage in the
Issuing Lender’s obligations and rights under and in respect of each Letter of
Credit and the amount of each draft paid by the Issuing Lender thereunder. 
Each L/C Participant agrees with the Issuing Lender that, if a draft is paid
under any Letter of Credit for which the Issuing Lender is not reimbursed in
full by the Borrower in accordance with the terms of this Agreement (or in the
event that any reimbursement received by the Issuing Lender shall be required to
be returned to it at any time), such L/C Participant shall pay to the Issuing
Lender upon demand at the Issuing Lender’s address for notices specified herein
an amount equal to such L/C Participant’s Revolving Percentage of the amount
that is not so reimbursed (or is so returned).  Each L/C Participant’s
obligation to pay such amount shall be absolute and unconditional and shall not
be affected by any circumstance, including (i) any setoff, counterclaim,
recoupment, defense or other right that such L/C Participant may have against
the Issuing Lender, the Borrower or any other Person for any reason whatsoever,
(ii) the occurrence or continuance of a Default or an Event of Default or the
failure to satisfy any of the other conditions specified in Section 5, (iii) any
adverse change in the condition (financial or otherwise) of the Borrower, (iv)
any breach of this Agreement or any other Loan Document by the Borrower, any
other Loan Party or any other L/C Participant or (v) any other circumstance,
happening or event whatsoever, whether or not similar to any of the
foregoing.

     

    (b)       If
any amount required to be paid by any L/C Participant to the Issuing Lender
pursuant to Section 3.4(a) in respect of any unreimbursed portion of any payment
made by the Issuing Lender under any Letter of Credit is paid to the Issuing
Lender within three Business Days after the date such payment is due, such L/C
Participant shall pay to the Issuing Lender on demand an amount equal to the
product of (i) such amount, times (ii) the daily average Federal Funds Rate
during the period from and including the date such payment is required to the
date on which such payment is immediately available to the Issuing Lender, times
(iii) a fraction the numerator of which is the number of days that elapse during
such period and the denominator of which is 360.  If any such amount
required to be paid by any L/C Participant pursuant to Section 3.4(a) is not
made available to the Issuing Lender by such L/C Participant within three
Business Days after the date such payment is due, the Issuing Lender shall be
entitled to recover from such L/C Participant, on demand, such amount with
interest thereon calculated from such due date at the rate per annum applicable
to ABR Loans under the Revolving Facility.  A certificate of the Issuing
Lender submitted to any L/C Participant with respect to any amounts owing under
this Section shall be conclusive in the absence of manifest
error.

    
      
         

      

      
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    (c)        Whenever,
at any time after the Issuing Lender has made payment under any Letter of Credit
and has received from any L/C Participant its pro rata share of such
payment in accordance with Section 3.4(a), the Issuing Lender receives any
payment related to such Letter of Credit (whether directly from the Borrower or
otherwise, including proceeds of Collateral applied thereto by the Issuing
Lender), or any payment of interest on account thereof, the Issuing Lender will
distribute to such L/C Participant its pro rata share thereof;
provided, however, that in the
event that any such payment received by the Issuing Lender shall be required to
be returned by the Issuing Lender, such L/C Participant shall return to the
Issuing Lender the portion thereof previously distributed by the Issuing Lender
to it.

     

    3.5. 
     Reimbursement Obligation of
the Borrower. 
If any draft is paid under any Letter of Credit, the Borrower shall reimburse
the Issuing Lender for the amount of (a) the draft so paid and (b) any taxes,
fees, charges or other costs or expenses incurred by the Issuing Lender in
connection with such payment, not later than 1:00 P.M., New York City time, on
(i) the Business Day that the Borrower receives notice of such draft, if such
notice is received on such day prior to 10:00 A.M., New York City time, or (ii)
if clause (i) above does not apply, the Business Day immediately following the
day that the Borrower receives such notice; provided, that the
Borrower may, subject to the conditions to borrowing set forth herein, request
in accordance with Section 2.5 or Section 2.7 that such payment be financed with
an ABR Revolving Loan or Swingline Loan in an equivalent amount and, to the
extent so financed, the Borrower’s obligation to make such payment shall be
discharged and replaced by the resulting ABR Revolving Loan or Swingline
Loan.  Each such payment shall be made to the Issuing Lender at its address
for notices referred to herein in Dollars and in immediately available
funds.  Interest shall be payable on any such amounts from the date on
which the relevant draft is paid until payment in full at the rate set forth in
(x) until the Business Day next succeeding the date of the relevant notice,
Section 2.14(b) and (y) thereafter, Section 2.14(c).

     

    3.6. 
     Obligations
Absolute. 
The Borrower’s obligations under this Section 3 shall be absolute and
unconditional under any and all circumstances and irrespective of any setoff,
counterclaim or defense to payment that the Borrower may have or have had
against the Issuing Lender, any beneficiary of a Letter of Credit or any other
Person.  The Borrower also agrees with the Issuing Lender that the Issuing
Lender shall not be responsible for, and the Borrower’s Reimbursement
Obligations under Section 3.5 shall not be affected by, among other things, the
validity or genuineness of documents or of any endorsements thereon, even though
such documents shall in fact prove to be invalid, fraudulent or forged, or any
dispute between or among the Borrower and any beneficiary of any Letter of
Credit or any other party to which such Letter of Credit may be transferred or
any claims whatsoever of the Borrower against any beneficiary of such Letter of
Credit or any such transferee.  The Issuing Lender shall not be liable for
any error, omission, interruption or delay in transmission, dispatch or delivery
of any message or advice, however transmitted, in connection with any Letter of
Credit, except for errors or omissions found by a final and nonappealable
decision of a court of competent jurisdiction to have resulted from the gross
negligence or willful misconduct of the Issuing Lender.  The Borrower
agrees that any action taken or omitted by the Issuing Lender under or in
connection with any Letter of Credit or the related drafts or documents, if done
in the absence of gross negligence or willful misconduct, shall be binding on
the Borrower and shall not result in any liability of the Issuing Lender to the
Borrower.

    
      
         

      

      
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    3.7. 
    Letter of Credit
Payments. 
If any draft shall be presented for payment under any Letter of Credit, the
Issuing Lender shall promptly notify the Borrower of the date and amount
thereof.  The responsibility of the Issuing Lender to the Borrower in
connection with any draft presented for payment under any Letter of Credit
shall, in addition to any payment obligation expressly provided for in such
Letter of Credit, be limited to determining that the documents (including each
draft) delivered under such Letter of Credit in connection with such presentment
are substantially in conformity with such Letter of Credit.

     

    3.8. 
    Applications. 
To the extent that any provision of any Application related to any Letter of
Credit is inconsistent with the provisions of this Section 3, the provisions of
this Section 3 shall apply.

     

    3.9. 
    Letters of Credit Issued for
Subsidiaries. 
Notwithstanding that a Letter of Credit issued or outstanding hereunder is in
support of any obligations, or is for the account of, a Subsidiary, the Borrower
shall be obligated to reimburse the Issuing Lender hereunder of any and all
drawings under such Letter of Credit.  The Borrower hereby acknowledges
that the issuance of Letters of Credit for the account of Subsidiaries inures to
the benefit of the Borrower, and that the Borrower’s business derives
substantial benefits from the businesses of such Subsidiaries.

     

    SECTION
4.    REPRESENTATIONS AND WARRANTIES

     

    To induce
the Administrative Agent and the Lenders to enter into this Agreement and to
make the Loans and issue or participate in the Letters of Credit, the Borrower
hereby represents and warrants to the Administrative Agent and each Lender
that:

     

    4.1. 
    Financial
Condition. 
(a)  The unaudited pro forma consolidated
balance sheet of the Borrower and its consolidated Subsidiaries as at March 31,
2010 (including the notes thereto) (the “Pro Forma Balance
Sheet”), copies of which have heretofore been furnished to each Lender,
has been prepared giving effect (as if such events had occurred on such date) to
(i) the consummation of the Acquisition, (ii) the Loans to be made, the issuance
of the Subordinated Note, on the Closing Date and the use of proceeds thereof
and (iii) the payment of fees and expenses in connection with the
foregoing.  The Pro Forma Balance Sheet has been prepared based on the best
information available to the Borrower as of the date of delivery thereof, and
presents fairly on a pro forma basis the
estimated financial position of Borrower and its consolidated Subsidiaries as at
March 31, 2010, assuming that the events specified in the preceding sentence had
actually occurred at such date.

     

    (b)       The
audited consolidated balance sheets of the Borrower and its consolidated
Subsidiaries as at December 31, 2007, December 31, 2008 and December 31, 2009
and the related consolidated statements of income and of cash flows for the
fiscal years ended on such dates, reported on by and accompanied by an
unqualified report from Ernst & Young, LLP, present fairly in all material
respects the consolidated financial condition of the Borrower and its
consolidated Subsidiaries as at such date, and the consolidated results of its
operations and its consolidated cash flows for the respective fiscal years then
ended.  The unaudited consolidated balance sheet of the Borrower and its
consolidated Subsidiaries as at March 31, 2010 and the related unaudited
consolidated statements of income and cash flows for the three-month period
ended on such date, present fairly in all material respects the consolidated
financial condition of the Borrower and its consolidated Subsidiaries as at such
date, and the consolidated results of its operations and its consolidated cash
flows for the three-month period then ended (subject to normal year-end audit
adjustments).  All such financial statements, including the related
schedules and notes thereto, have been prepared in accordance with GAAP applied
consistently throughout the periods involved (except as approved by the
aforementioned firm of accountants and disclosed therein), subject, in the case
of the unaudited quarterly financial statements, to normal year-end audit
adjustments, if any.

    
      
         

      

      
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    (c)       
The audited consolidated balance sheets of the Target and its consolidated
Subsidiaries as at December 31, 2007, December 31, 2008 and December 31, 2009
and the related consolidated statements of income and of cash flows for the
fiscal years ended on such dates, reported on by and accompanied by an
unqualified report from Amper, Politziner & Mattia, LLP, to the Borrower’s
knowledge, present fairly in all material respects the consolidated financial
condition of the Target and its consolidated Subsidiaries as at such date, and
the consolidated results of its operations and its consolidated cash flows for
the respective fiscal years then ended.  To the Borrower’s knowledge, all
such financial statements, including the related schedules and notes thereto,
have been prepared in accordance with GAAP applied consistently throughout the
periods involved (except as approved by the aforementioned firm of accountants
and disclosed therein).  As of the Closing Date, neither the Target nor any
of its Subsidiaries has any material Guarantee Obligations, contingent
liabilities and liabilities for taxes, or any long-term leases or unusual
forward or long-term commitments, including any interest rate or foreign
currency swap or exchange transaction or obligation in respect of derivatives,
that are not reflected in the most recent financial statements referred to in
this paragraph or reflected on Schedule 4.1.  During the period from
December 31, 2009 to and including the date hereof, there has been no
Disposition by the Target or any of its Subsidiaries of any material part of its
business or property, other than as set forth on Schedule 4.1.

     

    4.2. 
    No Change. 
Since December 31, 2009, there has been no development or event that has had or
could reasonably be expected to have a Material Adverse Effect.

     

    4.3. 
    Existence; Compliance with
Law. 
Each of the Borrower and its Subsidiaries (a) is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its
organization, (b) has the power and authority, and the legal right, to own and
operate its property, to lease the property it operates as lessee and to conduct
the business in which it is currently engaged, (c) is duly qualified as a
foreign corporation or other organization and in good standing under the laws of
each jurisdiction where its ownership, lease or operation of property or the
conduct of its business requires such qualification and (d) is in compliance
with all Requirements of Law, except in the case of each of (b) through (d), to
the extent that the failure to comply therewith could not, in the aggregate,
reasonably be expected to have a Material Adverse Effect.

     

    4.4. 
    Power; Authorization;
Enforceable Obligations. 
Each Loan Party has the power and authority, and the legal right, to make,
deliver and perform the Loan Documents to which it is a party and, in the case
of the Borrower, to obtain extensions of credit hereunder.  Each Loan Party
has taken all necessary organizational action to authorize the execution,
delivery and performance of the Loan Documents to which it is a party and, in
the case of the Borrower, to authorize the extensions of credit on the terms and
conditions of this Agreement.  No consent or authorization of, filing with,
notice to or other act by or in respect of, any Governmental Authority or any
other Person is required in connection with the Acquisition and the extensions
of credit hereunder or with the execution, delivery, performance, validity or
enforceability of this Agreement or any of the Loan Documents, except (i) the
filings referred to in Section 4.19 or otherwise required in order to perfect,
record or maintain the security interests granted under the Security Documents
and (ii) those that, if not obtained or made, could not reasonably be expected
to have a Material Adverse Effect.  Each Loan Document has been duly
executed and delivered on behalf of each Loan Party party thereto.  This
Agreement constitutes, and each other Loan Document upon execution will
constitute, a legal, valid and binding obligation of each Loan Party party
thereto, enforceable against each such Loan Party in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of
creditors’ rights generally and by general equitable principles (whether
enforcement is sought by proceedings in equity or at law).

    
      
         

      

      
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    4.5. 
    No Legal
Bar. 
The execution, delivery and performance of this Agreement and the other Loan
Documents, the issuance of Letters of Credit, the borrowings hereunder and the
use of the proceeds thereof will not violate any Requirement of Law or any
Contractual Obligation of the Borrower or any of its Subsidiaries, except for
any such violation other than with respect to a violation of the organizational
documents of the Borrower or any of its Subsidiaries, which could not reasonably
be expected to have a Material Adverse Effect, and will not result in, or
require, the creation or imposition of any Lien on any of their respective
properties or revenues pursuant to any such Requirement of Law or any such
Contractual Obligation (other than the Liens created by the Security
Documents).

     

    4.6. 
    Litigation. 
No litigation, investigation or proceeding of or before any arbitrator or
Governmental Authority is pending or, to the knowledge of any Responsible
Officer of the Borrower, threatened by or against the Borrower or any of its
Subsidiaries or against any of their respective properties or revenues (a) with
respect to any of the Loan Documents or any of the transactions contemplated
hereby or thereby, or (b) that could reasonably be expected to have a Material
Adverse Effect.

     

    4.7. 
    No
Default. 
None of the Borrower or any of its Subsidiaries is in default under or with
respect to any of its Contractual Obligations in any respect that could
reasonably be expected to have a Material Adverse Effect.  No Default or
Event of Default has occurred and is continuing.

     

    4.8. 
    Ownership of Property;
Liens. 
Each of the Borrower and its Subsidiaries has title in fee simple to, or a valid
leasehold interest in, all its real property, and good title to, or a valid
leasehold interest in, all its other property except as could not reasonably be
expected to materially interfere with the conduct of business of the Borrower
and its Subsidiaries, taken as a whole, and none of such property is subject to
any Lien except as permitted by Section 7.3.

     

    4.9. 
    Intellectual
Property. 
Each of the Borrower and its Subsidiaries owns, is licensed to use or possesses
the right to use all material Intellectual Property necessary for the conduct of
its business as currently conducted.  No claim has been asserted in writing
and is pending by any Person challenging the use of any Intellectual Property
owned by the Borrower or its Subsidiaries or the validity or effectiveness of
any such Intellectual Property, nor does any Responsible Officer of the Borrower
know of any valid basis for any such claim.  The conduct of the business by
each of the Borrower and its Subsidiaries does not infringe on the rights of any
Person in any material respect.

     

    4.10. 
  Taxes. 
(i) Each of the Borrower and its Subsidiaries has filed or caused to be filed
all material Federal, state and other tax returns that are required to be filed
and has paid all taxes shown to be due and payable on said returns or on any
assessments made against it or any of its property and all other taxes, fees or
other charges imposed on it or any of its property by any Governmental Authority
(other than any the amount or validity of which are currently being contested in
good faith by appropriate proceedings and with respect to which reserves in
conformity with GAAP have been provided on the books of the Borrower and any of
its relevant Subsidiaries); and (ii) no tax Lien has been filed, and, to the
knowledge of the Borrower, no claim is being asserted, with respect to any such
tax, fee or other charge.

     

    4.11. 
  Federal
Regulations. 
No part of the proceeds of any Loans, and no other extensions of credit
hereunder, will be used (a) for “buying” or “carrying” any “margin stock” within
the respective meanings of each of the quoted terms under Regulation U as now
and from time to time hereafter in effect for any purpose that violates the
provisions of the Regulations of the Board or (b) for any purpose that violates
the provisions of the Regulations of the Board.  If requested by any Lender
or the Administrative Agent, the Borrower will furnish to the Administrative
Agent and each Lender a statement to the foregoing effect in conformity with the
requirements of FR Form G-3 or FR Form U-1, as applicable, referred to in
Regulation U.

    
      
         

      

      
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    4.12. 
  Labor
Matters. 
Except as, in the aggregate, could not reasonably be expected to have a Material
Adverse Effect: (a) there are no strikes or other labor disputes against the
Borrower or any of its Subsidiaries pending or, to the knowledge of the
Borrower, threatened; (b) hours worked by and payment made to employees of each
of the Borrower and its Subsidiaries have not been in violation of the Fair
Labor Standards Act or any other applicable Requirement of Law dealing with such
matters; and (c) all payments due from the Borrower or any of its Subsidiaries
on account of employee health and welfare insurance have been paid or accrued as
a liability on the books of the Borrower or any of its relevant
Subsidiaries.

     

    4.13. 
  ERISA. 
Except as could not reasonably be expected, individually or in the aggregate, to
have a Material Adverse Effect: (i) each of the Borrower and its Subsidiaries
and each of their respective ERISA Affiliates is in compliance with the
applicable provisions of ERISA and the provisions of the Code relating to Plans
and the regulations and published interpretations thereunder; (ii) no ERISA
Event has occurred or is reasonably expected to occur; and (iii) all amounts
required by applicable law with respect to, or by the terms of, any retiree
welfare benefit arrangement maintained by the Borrower, any of its Subsidiaries
or any ERISA Affiliate or to which the Borrower, any of its Subsidiaries or any
ERISA Affiliate has an obligation to contribute have been accrued in accordance
with Statement of Financial Accounting Standards No. 106.  The present
value of all accumulated benefit obligations under each Pension Plan (based on
the assumptions used for purposes of Statement of Financial Accounting Standards
No. 87) did not, as of the date of the most recent financial statements
reflecting such amounts, exceed by more than a material amount the fair market
value of the assets of such Pension Plan allocable to such accrued benefits, and
the present value of all accumulated benefit obligations of all underfunded
Pension Plans (based on the assumptions used for purposes of Statement of
Financial Accounting Standards No. 87) did not, as of the date of the most
recent financial statements reflecting such amounts, exceed by more than a
material amount the fair market value of the assets of all such underfunded
Pension Plans.

     

    4.14. 
  Investment
Company Act; Other Regulations. 
No Loan Party is an “investment company”, or a company “controlled” by an
“investment company”, within the meaning of the Investment Company Act of 1940,
as amended.  No Loan Party is subject to regulation under any Requirement
of Law (other than Regulation X of the Board) that limits its ability to incur
Indebtedness.

     

    4.15. 
  Subsidiaries. 
Except as disclosed to the Administrative Agent by the Borrower in writing from
time to time after the Closing Date, (a) Schedule 4.15 sets forth the name and
jurisdiction of organization of each Subsidiary and, as to each such Subsidiary,
the percentage of each class of Capital Stock owned by any Loan Party and (b)
there are no outstanding subscriptions, options, warrants, calls, rights or
other agreements or commitments (other than stock options granted to employees
or directors and directors’ qualifying shares) of any nature relating to any
Capital Stock of any Subsidiary of the Borrower, except to the extent permitted
by the Loan Documents.

     

    4.16. 
  Use of
Proceeds. 
The proceeds of the Term Loans shall be used to finance a portion of the
Acquisition and to pay related fees and expenses.  The proceeds of the
Revolving Loans and the Swingline Loans, and the Letters of Credit, shall be
used for working capital needs and general corporate purposes of the Borrower
and its Subsidiaries (including to finance a portion of the Acquisition and to
pay related fees and expenses) and for the issuance of Letters of
Credit.

     

    
      
         

      

      
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      4.17.       
Environmental
Matters.

       

      (a)           Except
as, individually or in the aggregate, could not reasonably be expected to have a
Material Adverse Effect:

    

     

    (i)           the
facilities and properties owned, leased or operated by the Borrower or any of
its Subsidiaries (the “Properties”) do not
contain, and have not previously contained, any Materials of Environmental
Concern in amounts or concentrations or under circumstances that constitute or
constituted a violation of, or could reasonably be expected give rise to
liability under, any applicable Environmental Law;

     

    (ii)           each
of the Borrower and its Subsidiaries (A) is in compliance with all, and has not
violated any, applicable Environmental Laws; (B) holds all Environmental Permits
(each of which is in full force and effect) required for any of its current or
intended operations or for any property owned, leased, or otherwise operated by
it; and (C) is in compliance with all, and has not violated any, of its
Environmental Permits;

     

    (iii)           neither
the Borrower nor any Subsidiary is aware of any past, present, or reasonably
anticipated future events, circumstances, practices, plans, or legal
requirements that could reasonably be expected to prevent it from (or increase
the burden on it of) complying with applicable Environmental Laws or obtaining,
renewing, or complying with all Environmental Permits required under such
laws;

     

    (iv)           Materials
of Environmental Concern are not present at, on, under, in or about any current
or former Properties or at any other location (including, without limitation,
any location to which Materials of Environmental Concern have been sent for
re-use or recycling or for treatment, storage, or disposal) in amounts or
concentrations or under circumstances that:  (A) constitute or
constituted a violation of, or could give rise to liability under, any
Environmental Law or otherwise result in costs to the Borrower or its
Subsidiaries; or (B) interfere with the continuing operations of Borrower or its
Subsidiaries;

     

    (v)           neither
the Borrower nor any Subsidiary has received notice of any pending or threatened
Environmental Claim with regard to any of the Properties or the business
operated by the Borrower or any of its Subsidiaries (the “Business”), nor is
the Borrower aware of any facts, conditions or circumstances that could
reasonably be expected to give rise to such an Environmental Claim;
and

     

    (vi)           none
of the Borrower or any of its Subsidiaries has assumed or retained any
obligations or liabilities of any kind, fixed or contingent, known or unknown,
under any Environmental Law or with respect to any Material of Environmental
Concern.

     

    (b)           The
Borrower has provided to the Administrative Agent true and complete copies of
all Environmental Reports that are in the possession or control of the Borrower
or any Subsidiary.

     

    4.18. 
      Accuracy of Information,
etc. 
No statement or information contained in this Agreement, any other Loan Document
or any other document, certificate or statement furnished by or on behalf of any
Loan Party to the Administrative Agent or the Lenders, or any of them, for use
in connection with the transactions contemplated by this Agreement or the other
Loan Documents, taken as a whole, contain as of the date such statement,
information, document or certificate was so furnished any untrue statement of a
material fact or omitted to state a material fact necessary to make the
statements contained herein or therein not materially misleading in light of the
circumstances when made.  The projections and pro forma financial
information contained in the materials referenced above are based upon good
faith estimates and assumptions believed by management of the Borrower to be
reasonable at the time made, it being recognized by the Lenders that such
financial information as it relates to future events is not to be viewed as fact
and that actual results during the period or periods covered by such financial
information may differ from the projected results set forth therein by a
material amount.  As of the date hereof, the representations and warranties
contained in the Acquisition Documentation are true and correct in all material
respects.  There is no fact known to any Loan Party that could reasonably
be expected to have a Material Adverse Effect that has not been expressly
disclosed herein, in the other Loan Documents or in any other documents,
certificates and statements furnished to the Administrative Agent and the
Lenders for use in connection with the transactions contemplated hereby and by
the other Loan Documents.

    
      
         

      

      
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    4.19. 
       Security
Documents. The
Guarantee and Collateral Agreement is effective to create in favor of the
Administrative Agent, for the benefit of the Lenders, a legal, valid and
enforceable security interest in the Collateral described therein and proceeds
thereof.  In the case of the certificated Pledged Stock described in the
Guarantee and Collateral Agreement, when stock certificates representing such
Pledged Stock are delivered to the Administrative Agent (together with a
properly completed and signed stock power or endorsement), and in the case of
the other Collateral described in the Guarantee and Collateral Agreement, when
financing statements and other filings specified on Schedule 4.19 in appropriate
form are filed in the offices specified on Schedule 4.19, the Guarantee and
Collateral Agreement shall constitute a fully perfected Lien on, and security
interest in, all right, title and interest of the Loan Parties in such
Collateral and the proceeds thereof, as security for the Obligations (as defined
in the Guarantee and Collateral Agreement), in each case prior and superior in
right to any other Person (except, in the case of Collateral other than Pledged
Stock, Liens permitted by Section 7.3).

     

    4.20. 
       Solvency. 
The Loan Parties on a consolidated basis are, and after giving effect to the
Acquisition and the incurrence of all Indebtedness and obligations being
incurred in connection herewith and therewith will be and will continue to be,
Solvent.

     

    4.21. 
       Senior
Indebtedness. 
The Obligations constitute “Senior Indebtedness” (or any comparable term) of the
Borrower under and as defined in the documentation governing the Subordinated
Note.  The obligations of each Subsidiary Guarantor under the Guarantee and
Collateral Agreement constitute “Senior Indebtedness” (or any comparable term)
of such Subsidiary Guarantor under and as defined in the documentation governing
the Subordinated Note.

     

    4.22. 
       Certain
Documents. 
The Borrower has delivered to the Administrative Agent a complete and correct
copy of the Acquisition Documentation and the Subordinated Note, including any
amendments, supplements or modifications with respect to any of the
foregoing.

     

    SECTION
5.       CONDITIONS PRECEDENT

     

    5.1. 
         Conditions to Initial
Extension of Credit. 
The agreement of each Lender to make the initial extension of credit requested
to be made by it is subject to the satisfaction, prior to or concurrently with
the making of such extension of credit on the Closing Date, of the following
conditions precedent:

     

    (a)           
Credit Agreement;
Guarantee and Collateral Agreement.  The Administrative Agent shall
have received (i) this Agreement, executed and delivered by the
Administrative Agent, the Borrower and each Person listed on Schedule 1.1A, (ii)
the Guarantee and Collateral Agreement, executed and delivered by the Borrower
and each Subsidiary Guarantor, including for the avoidance of doubt,
Register.com, Inc., and (iii) an Acknowledgement and Consent in the form
attached to the Guarantee and Collateral Agreement, executed and delivered by
each Issuer (as defined therein), if any, that is not a Loan
Party.

    
      
         

      

      
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    (b)           Acquisition. 
(i) The Acquisition shall be consummated concurrently with the initial funding
of the Credit Facilities in accordance with the terms of the Acquisition
Agreement and no terms or conditions to the Borrower’s obligations to consummate
the Acquisition shall have been amended or waived other than (x) with the
consent of the Agents (which consent shall not be unreasonably withheld or
delayed (it being understood that the Administrative Agent shall promptly post
to Intralinks a notice to the Lenders regarding the giving of any such consent))
or (y) any terms or conditions the amendment or waiver of which shall not be
materially adverse to the Lenders or the Lead Arrangers (as determined by the
Agents (it being understood that the Administrative Agent shall promptly post to
Intralinks a notice to the Lenders regarding the making of any such
determination)) (it being understood that any change to the purchase price of
the Acquisition in excess of $5,000,000 or to the financing cooperation covenant
in the Acquisition Agreement shall be deemed to be material and adverse to the
interests of the Lenders and the Lead Arrangers); (ii) the sources and uses of
funding for the Acquisition shall be as set forth on the Sources and Uses table
attached as Schedule 1.1C; and (iii) after giving effect to the Acquisition and
the borrowings under the Loan Documents, the Subordinated Note and the payment
of fees and expenses in connection with the foregoing, Register.com (Cayman)
Limited Partnership and its Subsidiaries shall have no Indebtedness, other than
the Indebtedness pursuant to any Loan Document, the Canadian Government Loan in
an amount not to exceed CDN $672,000, trade payables, Capital Leases, equipment
financings, the Existing Letters of Credit and  other Indebtedness
permitted by Section 7.2.

     

    (c)           Pro Forma Balance Sheet;
Financial Statements.  The Lenders shall have received (i) the Pro
Forma Balance Sheet and a pro forma statement of operations for the 12-month
period ending March 31, 2010, prepared in accordance with Regulation S-X with
such adjustments or deviations therefrom as the Lead Arrangers may agree, (ii)
the audited consolidated financial statements of each of the Borrower and the
Target for the 2007, 2008 and 2009 fiscal years and (iii) the unaudited interim
consolidated financial statements of each of the Borrower and the Target for
each fiscal quarter ended (A) after the date of the latest applicable financial
statements delivered pursuant to clause (ii) of this paragraph and (B) at least
45 days prior to the Closing Date.

     

    (d)           Approvals.  All
governmental and third party approvals necessary in connection with the
execution and delivery of the Loan Documents shall have been obtained and be in
full force and effect. No action, investigation, litigation or proceeding
exists, is pending or is threatened in any court or before any arbitrator or
governmental authority that could reasonably be expected to have a material
adverse effect on the Borrower or the execution and delivery of the Loan
Documents.

     

    (e)           Lien Searches. 
The Administrative Agent shall have received the results of a recent Lien search
with respect to each Loan Party, and such search shall reveal no Liens on any of
the assets of the Loan Parties except for Liens (A) permitted by Section 7.3 or
(B) discharged on or prior to the Closing Date pursuant to documentation
satisfactory to the Administrative Agent.

     

    (f)           Fees.  The
Lenders, the Administrative Agent and the Lead Arrangers shall have received all
fees required to be paid, and all expenses for which invoices have been
presented (including the reasonable fees and expenses of legal counsel), on or
before the Closing Date pursuant to the Fee Letter.  All such amounts will
be paid with proceeds of Loans made on the Closing Date and will be reflected in
the funding instructions given by the Borrower to the Administrative Agent on or
before the Closing Date.

    
      
         

      

      
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    (g)           Closing Certificate;
Certified Certificate of Incorporation; Good Standing Certificates. 
The Administrative Agent shall have received (i) a certificate of each Loan
Party, dated the Closing Date, substantially in the form of Exhibit C, with
appropriate insertions and attachments, including the charter, articles,
certificate of organization or incorporation of each Loan Party certified by the
relevant authority of the jurisdiction of organization of such Loan Party (if
applicable), and (ii) a good standing certificate for each Loan Party from its
jurisdiction of organization (if applicable).

     

    (h)           Legal Opinion. 
The Administrative Agent shall have received the legal opinion of Cooley LLP,
counsel to the Borrower and its Subsidiaries, in form and substance reasonably
satisfactory to the Administrative Agent.

     

    (i)           Pledged Stock; Stock Powers;
Pledged Notes.  The Administrative Agent shall have received (i) the
certificates representing the shares of Capital Stock pledged pursuant to the
Guarantee and Collateral Agreement, together with an undated stock power for
each such certificate executed in blank by a duly authorized officer of the
pledgor thereof and (ii) each promissory note (if any) pledged to the
Administrative Agent pursuant to the Guarantee and Collateral Agreement endorsed
(without recourse) in blank (or accompanied by an executed transfer form in
blank) by the pledgor thereof.

     

    (j)           Filings, Registrations and
Recordings.  Each document (including any Uniform Commercial Code
financing statement) required by the Security Documents or under law or
reasonably requested by the Administrative Agent to be filed, registered or
recorded in order to create in favor of the Administrative Agent, for the
benefit of the Lenders, a perfected Lien on the Collateral described therein,
prior and superior in right to any other Person (other than with respect to
Liens expressly permitted by Section 7.3), shall be in proper form for filing,
registration or recordation.

     

    (k)           Solvency
Certificate.  The Administrative Agent shall have received a
solvency certificate from the chief financial officer of the
Borrower.

     

    (l)           Insurance.  The
Administrative Agent shall have received insurance certificates satisfying the
requirements of Section 5.2 of the Guarantee and Collateral
Agreement.

     

    (m)          No Material Adverse
Effect.  There not occurring or becoming known to the Lead Arrangers
any Material Adverse Effect as that term is defined in the Acquisition
Agreement.

     

    For the
purpose of determining compliance with the conditions specified in this Section
5.1, each Lender that has signed this Agreement shall be deemed to have
accepted, and to be satisfied with, each document or other matter required under
this Section 5.1 unless the Administrative Agent shall have received written
notice from such Lender prior to the proposed Closing Date specifying its
objection thereto.

     

    5.2. 
        Conditions to Each Extension
of Credit. 
The agreement of each Lender to make any extension of credit requested to be
made by it on any date (including its initial extension of credit) is subject to
the satisfaction of the following conditions precedent:

    
      
         

      

      
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    (a)           Representations and
Warranties.  Each of the representations and warranties made by any
Loan Party in or pursuant to the Loan Documents shall be true and correct in all
material respects on and as of such date 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 shall be true and correct in all material
respects on and as of such earlier date.

     

    (b)           No Default.  No
Default or Event of Default shall have occurred and be continuing on such date
or after giving effect to the extensions of credit requested to be made on such
date.

     

    Each
borrowing by and issuance of a Letter of Credit on behalf of the Borrower
hereunder shall constitute a representation and warranty by the Borrower as of
the date of such extension of credit that the conditions contained in this
Section 5.2 have been satisfied.

     

    SECTION
6.   AFFIRMATIVE COVENANTS

     

    The
Borrower hereby agrees that, so long as the Commitments remain in effect, any
Letter of Credit remains outstanding or any Loan or other amount is owing to any
Lender or the Administrative Agent hereunder, the Borrower shall and shall cause
each of its Subsidiaries to:

     

    6.1. 
        Financial
Statements. 
Furnish to the Administrative Agent and each Lender:

     

    (a)           as
soon as available, but in any event within 90 days after the end of each
fiscal year of the Borrower, a copy of the audited consolidated and unaudited
Borrower-prepared consolidating balance sheet of the Borrower and its
consolidated and consolidating Subsidiaries as at the end of such year and the
related audited consolidated statements of income and of cash flows for such
year, setting forth in each case in comparative form the figures for the
previous year, reported on, in the case of audited financial statements, without
a “going concern” or like qualification or exception, or qualification arising
out of the scope of the audit, by Ernst & Young, LLP or other independent
certified public accountants of nationally recognized standing; and

     

    (b)           as
soon as available, but in any event not later than 45 days after the end of each
of the first three quarterly periods of each fiscal year of the Borrower, the
unaudited consolidated and unaudited Borrower-prepared consolidating balance
sheet of the Borrower and its consolidated and consolidating Subsidiaries as at
the end of such quarter and the related unaudited consolidated statements of
income and of cash flows for such quarter and the portion of the fiscal year
through the end of such quarter, setting forth in each case in comparative form
the figures for the previous year, certified by a Responsible Officer as being
fairly stated in all material respects (subject to normal year-end audit
adjustments).

     

    All such
financial statements shall be complete and correct in all material respects and
shall be prepared in reasonable detail and in accordance with GAAP applied
(except as approved by such accountants or officer, as the case may be, and
disclosed in reasonable detail therein) consistently throughout the periods
reflected therein and with prior periods.

     

    6.2. 
         Certificates; Other
Information. 
Furnish to the Administrative Agent and each Lender:

     

    (a)           
concurrently with the delivery of the financial statements referred to in
Section 6.1(a), a certificate of the independent certified public accountants
reporting on such financial statements stating that in making the examination
necessary therefor no knowledge was obtained of any Default or Event of Default,
except as specified in such certificate;

     

    
      
         

      

      
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    (b)           concurrently
with the delivery of any financial statements pursuant to Section 6.1, (i) a
certificate of a Responsible Officer stating that, to the best of each such
Responsible Officer’s knowledge, each Loan Party during such period has observed
or performed all of its covenants and other agreements, and satisfied every
condition contained in this Agreement and the other Loan Documents to which it
is a party to be observed, performed or satisfied by it, and that such
Responsible Officer has obtained no knowledge of any Default or Event of Default
except as specified in such certificate and (ii) in the case of quarterly or
annual financial statements, (x) a Compliance Certificate containing (A) a
schedule setting forth any differences in the financial condition and results of
operations of the Borrower and its Subsidiaries for the relevant fiscal quarter
and for the period from the beginning of the then current fiscal year to the end
of such fiscal quarter from the portion of the Projections (including, for the
avoidance of doubt, the budget) covering such periods, and (B) all information
and calculations necessary for determining compliance by each of the Borrower
and its Subsidiaries with the provisions of this Agreement referred to therein
as of the last day of the fiscal quarter or fiscal year of the Borrower, as the
case may be, and (y) to the extent not previously disclosed to the
Administrative Agent, (1) a description of any change in the jurisdiction of
organization of any Loan Party, (2) a list of any Intellectual Property acquired
by any Loan Party and (3) a description of any Person that has become a Borrower
or any of its Subsidiaries, in each case since the date of the most recent
report delivered pursuant to this clause (y) (or, in the case of the first such
report so delivered, since the Closing Date);

     

    (c)           as
soon as available, and in any event no later than 45 days after the end of each
fiscal year of the Borrower, a detailed consolidated budget for the following
fiscal year (including a projected consolidated balance sheet of the Borrower
and its Subsidiaries as of the end of the following fiscal year, the related
consolidated statements of projected cash flow and projected income and a
description of the underlying assumptions applicable thereto), and as soon as
available, significant revisions, if any, of such budget and projections with
respect to such fiscal year (collectively, the “Projections”), which
Projections shall in each case be accompanied by a certificate of a Responsible
Officer stating that such Projections are based upon good faith estimates and
assumptions believed by management of the Borrower to be reasonable at the time
made; provided,
that unless an Event of Default has occurred and is continuing, the Borrower
shall not be required to deliver more than one significant revision in any
fiscal quarter;

     

    (d)           concurrently
with the delivery of any financial statements pursuant to Section 6.1, a
narrative discussion and analysis of the financial condition and results of
operations of the Borrower and its Subsidiaries for such fiscal quarter and for
the period from the beginning of the then current fiscal year to the end of such
fiscal quarter, as compared to the comparable periods of the previous
year;

     

    (e)           no
later than three Business Day prior to the effectiveness thereof, copies of
substantially final drafts of any proposed amendment, supplement, waiver or
other modification with respect to the Acquisition Documentation or the
Subordinated Note;

     

    (f)           within
five days after the same are sent, copies of all financial statements and
reports that the Borrower sends to the holders of any class of its debt
securities or public equity securities and, within five days after the same are
filed, copies of all financial statements and reports that the Borrower may make
to, or file with, the SEC;

    
      
         

      

      
        51

        
          

        

      

      
         

      

    

     

    (g)           promptly
following receipt thereof, copies of (i) any documents described in Section
101(k) of ERISA that the Borrower, any of its Subsidiaries or any ERISA
Affiliate may request with respect to any Multiemployer Plan and (ii) any
notices described in Section 101(l) of ERISA that the Borrower, any of its
Subsidiaries or any ERISA Affiliate may request with respect to any
Multiemployer Plan; provided, that if the
Borrower, any of its relevant Subsidiaries or ERISA Affiliate has not requested
such documents or notices from the administrator or sponsor of the applicable
Multiemployer Plan, then, upon reasonable request of the Administrative Agent,
the Borrower, any of its Subsidiaries or the ERISA Affiliate shall promptly make
a request for such documents or notices from such administrator or sponsor and
the Borrower shall provide copies of such documents and notices promptly after
receipt thereof;

     

    (h)           following
the delivery of any financial statements pursuant to Section 6.1, management of
the Borrower shall make itself available for one conference call with the
Administrative Agent and Lenders during which it will offer a comparison of the
financial condition and results of operations of the Borrower and its
Subsidiaries for the relevant fiscal quarter and for the period from the
beginning of then then-current fiscal year to the end of such fiscal quarter to
the portion of the Projections (including, for the avoidance of doubt, the
budget) covering such periods; and

     

    (i)           promptly,
such additional information regarding the business, financial, legal or
corporate affairs of any Loan Party or any Subsidiary thereof as the
Administrative Agent may from time to time reasonably request.

     

    Documents
required to be delivered pursuant to Section 6.1(a) or (b) or Section 6.2(d) or
(f) shall be deemed to have been delivered on the date (i) on which the Borrower
files such documents with the SEC and such documents are publicly available on
the SEC’s EDGAR filing system or any successor thereto, (ii) on which the
Borrower posts such documents, or provides a link thereto on the Borrower’s
website or (iii) on which such documents are posted on the Borrower’s behalf on
an Internet or intranet website, if any, to which each Lender and the
Administrative Agent have access (whether a commercial, third-party website or
whether sponsored by the Administrative Agent); provided that (A) the
Borrower shall deliver paper copies of such documents to the Administrative
Agent for further distribution to any Lender that requests that the Borrower
deliver such paper copies and (B) in the case of clauses (i) and (ii) above, the
Borrower shall (x) notify the Administrative Agent of the filing or posting of
any such documents and (y) provide copies of all such documents to the
Administrative Agent for posting on an Internet or intranet website to which the
Lenders have access.

     

    6.3. 
         Payment of
Obligations. 
Pay, discharge or otherwise satisfy at or before maturity or before they become
delinquent, as the case may be, all its material obligations of whatever nature,
including tax liabilities, except where such obligation is currently being
contested in good faith by appropriate proceedings and reserves in conformity
with GAAP with respect thereto have been provided on the books of the Borrower
or any of its relevant Subsidiaries.

     

    6.4. 
         Maintenance of Existence;
Compliance. 
(a)(i)  Preserve, renew and keep in full force and effect its
organizational existence and (ii) take all reasonable action to maintain all
rights, privileges and franchises reasonably necessary or desirable in the
normal conduct of its business, except, in each case, as otherwise permitted by
Section 7.4 or 7.5 and except, in the case of clause (ii) above, to the extent
that failure to do so could not reasonably be expected to have a Material
Adverse Effect; and (b) comply with (i) all Contractual Obligations and (ii)
Requirements of Law, except (A) to the extent that failure to comply therewith
could not, in the aggregate, reasonably be expected to have a Material Adverse
Effect or (B) to the extent such Contractual Obligation or Requirement of Law is
currently being contested in good faith by appropriate
proceedings.

    
      
         

      

      
        52

        
          

        

      

      
         

      

    

     

    6.5. 
         Maintenance of Property;
Insurance. 
(a)  Keep all material property reasonably necessary in the conduct of its
business in good working order and condition, ordinary wear and tear excepted
and (b) maintain with financially sound and reputable insurance companies
insurance on all its property in at least such amounts and against at least such
risks (but including in any event public liability, product liability and
business interruption) as are customarily insured against by Persons engaged in
the same general area by companies engaged in the same or a similar business and
owning similar properties.

     

    6.6. 
         Inspection of Property;
Books and Records; Discussions. 
(a)  Keep proper books of records and account in which full, true and
correct entries in conformity with GAAP (or, in the case of Foreign
Subsidiaries, generally accepted accounting principles in effect from time to
time in their respective jurisdictions of organization) and all Requirements of
Law shall be made of all dealings and transactions in relation to its business
and activities and (b) at reasonable times and upon reasonable advance notice,
as often as may be desired, permit representatives of the Administrative Agent
or any Lender to visit and inspect any of its properties and examine and make
abstracts from any of its books and records and to discuss the business,
operations, properties and financial and other condition of the Borrower and its
Subsidiaries with officers and employees of the Borrower and its Subsidiaries
and with their independent certified public accountants; provided, that (i)
representatives of the Borrower or such Subsidiary may be present and
participate in any such discussion with such accountants and (ii) unless an
Event of Default has occurred and is continuing, such visits, inspections and
making of abstracts shall occur not more than once in any fiscal quarter for the
Administrative Agent and all of the Lenders taken together.

     

    6.7. 
         Notices. 
Promptly after a Responsible Officer or any Loan Party obtains knowledge
thereof, give notice to the Administrative Agent and each Lender
of:

     

    (a)  the
occurrence of any Default or Event of Default;

     

    (b)  any
litigation or proceeding affecting the Borrower or any of its Subsidiaries (i)
in which the amount sought against the Borrower or any of its Subsidiaries is
$2,500,000 or more and not covered by insurance, (ii) in which injunctive or
similar relief is sought as to which there is a reasonable probability of an
adverse determination and, if adversely determined, could reasonably be expected
to have a Material Adverse Effect or (iii) which relates to any Loan
Document;

     

    (c)   an
ERISA Event; and

     

    (d)   any
other development or event that has had or could reasonably be expected to have
a Material Adverse Effect.

     

    Each
notice pursuant to this Section 6.7 shall be accompanied by a statement of a
Responsible Officer setting forth details of the occurrence referred to therein
and stating what action the Borrower or any of its relevant Subsidiaries
proposes to take with respect thereto.

     

    6.8. 
         Environmental
Laws. 
(a)  Comply with, and undertake reasonable efforts to ensure
compliance, by all tenants and subtenants, if any, with, all applicable
Environmental Laws, and obtain and comply with and maintain, and undertake
reasonable efforts to ensure that all tenants and subtenants obtain and comply
with and maintain, any and all licenses, approvals, notifications, registrations
or permits required by applicable Environmental Laws.

    
      
         

      

      
        53

        
          

        

      

      
         

      

    

     

    (b)           Conduct
and complete all investigations, studies, sampling and testing, and all
remedial, removal and other actions required under Environmental Laws and
promptly comply in all material respects with all lawful orders and directives
of all Governmental Authorities regarding Environmental Laws.

     

    6.9. 
         Interest Rate
Protection. 
In the case of the Borrower, not later than December 31, 2010, enter into, and
thereafter maintain, Swap Agreements to the extent necessary to provide that at
least 50% of the then-outstanding aggregate principal amount of the Term Loans
(which, for the avoidance of doubt, shall give effect to any repayment or
prepayment made pursuant to Section 2.3, 2.10 or 2.11 on or prior to such date)
is subject to either a fixed interest rate or interest rate protection for a
period of not less than three years, the terms and conditions of the ISDA
agreements evidencing such Swap Agreements shall be reasonably satisfactory to
the Borrower and the Administrative Agent.

     

    6.10. 
         Further Assurances;
Additional Collateral, etc. 
(a)  With respect to any property acquired after the Closing Date by
the Borrower or any of its Subsidiaries (other than (x) any property described
in paragraph (c), (d) or (e) below, (y) any property subject to a Lien expressly
permitted by Section 7.3(g) and (z) property acquired by any Excluded Foreign
Subsidiary) as to which the Administrative Agent, for the benefit of the Secured
Parties, does not have a perfected Lien, promptly (i) execute and deliver to the
Administrative Agent such amendments to the Guarantee and Collateral Agreement
or such other documents as the Administrative Agent deems necessary or advisable
to grant to the Administrative Agent, for the benefit of the Secured Parties, a
security interest in such property and (ii) take all actions necessary or
advisable to grant to the Administrative Agent, for the benefit of the Secured
Parties, a perfected first priority security interest in such property,
including the filing of Uniform Commercial Code financing statements in such
jurisdictions as may be required by the Guarantee and Collateral Agreement or by
law or as may be requested by the Administrative Agent.

     

    (b)           With
respect to any fee interest in any real property having a value (together with
improvements thereof) of at least $3,000,000 acquired after the Closing Date by
the Borrower or any of its Subsidiaries (other than (x) any such real property
subject to a Lien expressly permitted by Section 7.3(g) and (y) real property
acquired by any Immaterial Subsidiary or any Excluded Foreign Subsidiary),
promptly (i) execute and deliver a first priority Mortgage, in favor of the
Administrative Agent, for the benefit of the Lenders, covering such real
property, (ii) if requested by the Administrative Agent, provide the Lenders
with (x) title and extended coverage insurance covering such real property in an
amount at least equal to the purchase price of such real property (or such other
amount as shall be reasonably specified by the Administrative Agent) as well as
a current ALTA survey thereof, together with a surveyor’s certificate and (y)
any consents or estoppels reasonably deemed necessary or advisable by the
Administrative Agent in connection with such Mortgage, each of the foregoing in
form and substance reasonably satisfactory to the Administrative Agent and (iii)
if requested by the Administrative Agent, deliver to the Administrative Agent
legal opinions relating to the matters described above, which opinions shall be
in form and substance, and from counsel, reasonably satisfactory to the
Administrative Agent, (iv) a “Life-of-Loan” Federal Emergency Management Agency
Standard Flood Hazard Determination with respect to such real property (together
with a notice about special flood hazard area status and flood disaster
assistance, duly executed by the Borrower or the applicable Subsidiary) and (v)
if such real property is located in an area that has been identified by the
Secretary of Housing and Urban Development as an area having special flood
hazards, obtain flood insurance made available under the National Flood
Insurance Act of 1968, if such insurance is available, or otherwise provide
evidence of flood insurance, reasonably satisfactory to the Administrative
Agent.

    
      
         

      

      
        54

        
          

        

      

      
         

      

    

     

    (c)           With
respect to any new Subsidiary (other than an Immaterial Subsidiary or an
Excluded Foreign Subsidiary) created or acquired after the Closing Date by the
Borrower or any of its Subsidiaries (which, for the purposes of this paragraph
(c), shall include any existing Subsidiary that ceases to be an Immaterial
Subsidiary or an Excluded Foreign Subsidiary), promptly (i) execute and deliver
to the Administrative Agent such amendments to the Guarantee and Collateral
Agreement as the Administrative Agent deems necessary or advisable to grant to
the Administrative Agent, for the benefit of the Secured Parties, a perfected
first priority security interest in the Capital Stock of such new Subsidiary
that is owned by the Borrower or any of its Subsidiaries, (ii) deliver to the
Administrative Agent the certificates representing such Capital Stock, together
with undated stock powers, in blank, executed and delivered by a duly authorized
officer of the Borrower or any of its relevant Subsidiaries, (iii) cause such
new Subsidiary (A) to become a party to the Guarantee and Collateral
Agreement, (B) to take such actions necessary or advisable to grant to the
Administrative Agent for the benefit of the Secured Parties a perfected first
priority security interest in the Collateral described in the Guarantee and
Collateral Agreement with respect to such new Subsidiary, including the filing
of Uniform Commercial Code financing statements in such jurisdictions as may be
required by the Guarantee and Collateral Agreement or by law or as may be
requested by the Administrative Agent and (C) to deliver to the Administrative
Agent a certificate of such Subsidiary, substantially in the form of Exhibit C,
with appropriate insertions and attachments, and (iv) if requested by the
Administrative Agent, deliver to the Administrative Agent legal opinions
relating to the matters described above, which opinions shall be in form and
substance, and from counsel, reasonably satisfactory to the Administrative
Agent.

     

    (d)           With
respect to any new Immaterial Subsidiary or new Excluded Foreign Subsidiary
created or acquired after the Closing Date by the Borrower or any of its
Subsidiaries (other than by any Subsidiary that is an Immaterial Subsidiary or
an Excluded Foreign Subsidiary), promptly (i) execute and deliver to the
Administrative Agent such amendments to the Guarantee and Collateral Agreement
as the Administrative Agent deems necessary or advisable to grant to the
Administrative Agent, for the benefit of the Secured Parties, a perfected first
priority security interest in the Capital Stock of such new Subsidiary that is
owned by any the Borrower or any of its Subsidiaries (provided, that in no
event shall more than 66% of the total outstanding voting Capital Stock of any
new Excluded Foreign Subsidiary be required to be so pledged), (ii) deliver to
the Administrative Agent the certificates representing such Capital Stock,
together with undated stock powers, in blank, executed and delivered by a duly
authorized officer of the Borrower or any of its relevant Subsidiaries, and take
such other action as may be necessary or, in the opinion of the Administrative
Agent, desirable to perfect the Administrative Agent’s security interest
therein, and (iii) if requested by the Administrative Agent, deliver to the
Administrative Agent legal opinions relating to the matters described above,
which opinions shall be in form and substance, and from counsel, reasonably
satisfactory to the Administrative Agent.

     

    6.11. 
       Letters of
Credit. 
Within 60 days after the Closing Date, cause each Existing Letter of Credit to
be cash collateralized or otherwise credit supported to the reasonable
satisfaction of the Administrative Agent (it being understood that each such
Existing Letter of Credit shall be subject to Section 7.2).

     

    6.12. 
       Post-Closing
Covenants. 
(a)  Within 60 days after the Closing Date (or such later date as the
Administrative Agent may agree in its reasonable discretion but in any case not
to exceed 120 days), have delivered to the Administrative Agent, in form and
substance reasonably satisfactory to the Administrative Agent, a fully-executed
account control agreement by and among the Administrative Agent, each bank where
the Borrower or any Subsidiary Guarantor has any deposit or securities account,
and the Borrower or such Subsidiary Guarantor, as the case may be, duly
authorized, executed and delivered by such bank and by the Borrower or such
Subsidiary Guarantor, as the case may be; provided that the
Borrower and the Subsidiary Guarantors shall not be required to deliver an
account control agreement with respect to (i) any individual account the balance
of which is at all times less than $100,000, provided, that the
aggregate amount of all such accounts shall at all times be $1,000,000 or less,
or (ii) any deposit account that is specifically and exclusively used for
payroll, payroll taxes,  and other employee wage and benefit payments
to or for the benefit of any Loan Party’s employees.

    
      
         

      

      
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    (b)           File
all inventor assignment and name change filings and other filings with the
United States Patent and Trademark Office and United States Copyright Office
that are requested by the Administrative Agent on or prior to the Closing Date
to clean up any title issues within seven days of the Closing Date for U.S.
copyright applications and registrations, and within 20 days of the Closing Date
for U.S. patents, trademark registrations and patent and trademark applications
(or, in each case, such later date as the Administrative Agent may agree in its
reasonable discretion).

    

    (c)           No
later than five Business Days of the Closing Date (or such later date as the
Administrative Agent may agree in its reasonable discretion), with respect to
the insurance maintained by the Loan Parties pursuant to Section 6.5 of this
Agreement, deliver endorsements satisfying the requirements of Section 5.2 of
the Guarantee and Collateral Agreement, including naming the Administrative
Agent, on behalf of the Lenders, as an additional insured or loss payee
thereunder, as applicable.

    

    SECTION
7.    NEGATIVE COVENANTS

     

    The
Borrower hereby agrees that, so long as the Commitments remain in effect, any
Letter of Credit remains outstanding or any Loan or other amount is owing to any
Lender or the Administrative Agent hereunder, the Borrower shall not, and shall
not permit any of its Subsidiaries to, directly or indirectly:

     

    7.1. 
         Financial Condition
Covenants. 
(a)  Consolidated Leverage
Ratio.  Permit the Consolidated Leverage Ratio as at the last day of
any period of four consecutive fiscal quarters of the Borrower (or, if less, the
number of full fiscal quarters subsequent to the Closing Date) ending with any
fiscal quarter set forth below to exceed the ratio set forth below opposite such
fiscal quarter:

     

    
      
        
          	
                  Fiscal Quarter

                	 
      	
                  Consolidated Leverage
  Ratio

                
	 	 	 
	
                  September
      30, 2010

                	 
      	
                  3.75:1.00

                
	
                  December
      31, 2010

                	 
      	
                  3.75:1.00

                
	
                  March
      31, 2011

                	 
      	
                  3.50:1.00

                
	
                  June
      30, 2011

                	 
      	
                  3.25:1.00

                
	
                  September
      30, 2011

                	 
      	
                  2.75:1.00

                
	
                  December
      31, 2011

                	 
      	
                  2.50:1.00

                
	
                  March
      31, 2012

                	 
      	
                  2.00:1.00

                
	
                  June
      30, 2012

                	 
      	
                  2.00:1.00

                
	
                  September
      30, 2012

                	 
      	
                  1.75:1.00

                
	
                  December
      31, 2012

                	 
      	
                  1.75:1.00

                
	
                  March
      31, 2013

                	 
      	
                  1.50:1:00

                
	
                  June
      30, 2013

                	 
      	
                  1.50:1:00

                
	
                  September
      30, 2013

                	 
      	
                  1.50:1:00

                
	
                  December
      31, 2013

                	 
      	
                  1.50:1:00

                
	
                  March
      31, 2014

                	 
      	
                  1.50:1:00

                
	
                  June
      30, 2014

                	 
      	
                  1.50:1:00

                
	
                  September
      30, 2014

                	 
      	
                  1.50:1:00

                
	
                  December
      31, 2014

                	 
      	
                  1.50:1:00

                
	
                  March
      31, 2015

                	 
      	
                  1.50:1:00

                
	
                  June
      30, 2015

                	
                    

                	
                  1.50:1:00

                

        

      

    

     

    
      
         

      

      
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    (b)          Consolidated Fixed Charge
Coverage Ratio.  Permit the Consolidated Fixed Charge Coverage Ratio
for any period of four consecutive fiscal quarters of the Borrower (or, if less,
the number of full fiscal quarters subsequent to the Closing Date) ending with
any fiscal quarter set forth below to be less than the ratio set forth below
opposite such fiscal quarter:

     

    
      
        
          	
                  Fiscal Quarter

                	 
      	
                  Consolidated Fixed Charge

                  Coverage Ratio

                
	
                  September
      30, 2010

                	 
      	
                  1.85:1:00

                
	
                  December
      31, 2010

                	 
      	
                  1.85:1:00

                
	
                  March
      31, 2011

                	 
      	
                  2.00:1.00

                
	
                  June
      30, 2011

                	 
      	
                  2.00:1.00

                
	
                  September
      30, 2011

                	 
      	
                  2.00:1.00

                
	
                  December
      31, 2011

                	 
      	
                  2.00:1.00

                
	
                  March
      31, 2012

                	 
      	
                  2.00:1.00

                
	
                  June
      30, 2012

                	 
      	
                  2.00:1.00

                
	
                  September
      30, 2012

                	 
      	
                  2.00:1.00

                
	
                  December
      31, 2012

                	 
      	
                  2.00:1.00

                
	
                  March
      31, 2013

                	 
      	
                  2.25:1.00

                
	
                  June
      30, 2013

                	 
      	
                  2.25:1.00

                
	
                  September
      30, 2013

                	 
      	
                  2.25:1.00

                
	
                  December
      31, 2013

                	 
      	
                  2.25:1.00

                
	
                  March
      31, 2014

                	 
      	
                  2.50:1.00

                
	
                  June
      30, 2014

                	 
      	
                  2.50:1.00

                
	
                  September
      30, 2014

                	 
      	
                  2.50:1.00

                
	
                  December
      31, 2014

                	 
      	
                  2.50:1.00

                
	
                  March
      31, 2015

                	 
      	
                  2.50:1.00

                
	
                  June
      30, 2015

                	
                    

                	
                  2.50:1.00

                

        

      

    

     

    ; provided, that for
the purposes of determining the ratio described above for the fiscal quarters of
the Borrower ending September 30, 2010, December 31, 2010, and March 31, 2011,
Consolidated Fixed Charges for the relevant period shall be deemed to equal
Consolidated Fixed Charges for such fiscal quarter (and, in the case of the
latter two such determinations, each previous fiscal quarter commencing after
the Closing Date) multiplied by 4, 2
and 4/3, respectively.

     

    7.2. 
        Indebtedness. 
Create, issue, incur, assume, become liable in respect of or suffer to exist any
Indebtedness, except:

     

    (a)           Indebtedness
of any Loan Party pursuant to any Loan Document;

     

    (b)           Indebtedness
of (i) the Borrower to any Subsidiary, (ii) any Wholly Owned Subsidiary
Guarantor to the Borrower or any other Subsidiary or (iii) any Subsidiary that
is not a Loan Party to any other Subsidiary that is not a Loan
Party;

     

    (c)           Guarantee
Obligations incurred by the Borrower or any of its Subsidiaries of obligations
of the Borrower or any Wholly Owned Subsidiary Guarantor to the extent such
obligations are permitted hereunder;

    
      
         

      

      
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    (d)           Reserved;

     

    (e)           the
Existing Letters of Credit; provided that the
aggregate face value of the Existing Letters of Credit shall not exceed
$4,000,000 at any time;

     

    (f)         
  Indebtedness (including, without limitation, Capital Lease
Obligations and purchase money obligations) to finance the acquisition of fixed
or capital assets in an aggregate principal amount not to exceed $7,500,000 at
any one time outstanding;

     

    (g)           Indebtedness
of the Borrower in respect of the Subordinated Note;

     

    (h)           Indebtedness
pursuant to the Canadian Government Loan not to exceed CDN $672,000 at any time
and any guarantees provided in connection therewith;

     

    (i)        
   Indebtedness of the Borrower in respect of Specified Cash
Management Agreements, netting services, overdraft protections and other cash
management, intercompany cash pooling and similar arrangements in connection
with deposit accounts, in each case in the ordinary course of
business;

     

    (j)        
   Indebtedness arising under any Swap Agreement permitted by
Section 7.11;

     

    (k)           Indebtedness
(other than for borrowed money) that may be deemed to exist pursuant to any
guarantees, warranty or contractual service obligations, performance, surety,
statutory, appeal, bid, prepayment guarantee, payment (other than payment of
Indebtedness) or completion of performance guarantees or similar obligations
incurred in the ordinary course of business;

     

    (l)        
   Indebtedness in respect of workers’ compensation claims,
payment obligations in connection with health, disability or other types of
social security benefits, unemployment or other insurance obligations,
reclamation and statutory obligations, in each case in the ordinary course of
business;

     

    (m)           Indebtedness
arising from the honoring by a bank or other financial institution of a check,
draft or similar instrument drawn against insufficient funds, so long as such
Indebtedness is covered or extinguished within five Business Days;

     

    (n)           Indebtedness
consisting of (i) the financing of insurance premiums or self-insurance
obligations or (ii) take-or-pay obligations contained in supply or similar
agreements in each case in the ordinary course of business;

     

    (o)           client
advance or deposits received in the ordinary course of business;

     

    (p)           any
indemnification, purchase price adjustment, earn-out or similar obligations
incurred in connection with Investments permitted by Section
7.7;

    
      
         

      

      
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    (q)         Indebtedness
acquired by the Borrower or any of its Subsidiaries in connection with a
Permitted Acquisition; provided, that such
Indebtedness is not incurred in connection with, or in contemplation of, such
transaction; provided further, that on the
date of the incurrence of such Indebtedness, after giving effect to the
incurrence thereof and otherwise determined on a pro forma basis in accordance
with the provisions set forth in the definition of Consolidated EBITDA, the
Consolidated Leverage Ratio would not exceed (i) if a Compliance Certificate has
not yet been delivered pursuant to Section 6.2(b) for the Reference Period
ending on December 31, 2011, the Consolidated Leverage Ratio then in effect
pursuant to Section 7.1(a) minus 0.50:1.00 or (ii) if otherwise, the
Consolidated Leverage Ratio then in effect pursuant to Section 7.1(a) minus
0.25:1.00; provided still further that (x) such
Indebtedness is not guaranteed in any respect by the Borrower or any Subsidiary
(other than by any such Person that so becomes a Subsidiary or is the survivor
of a merger with such Person and any of its Subsidiaries) and (y) such Person
executes a supplement to the Guarantee and Collateral Agreement to the extent
required under Section
6.10;

     

    (r)          the
capitalized amount of the remaining lease or similar payments under the relevant
lease or other applicable agreement or instrument that would appear on a balance
sheet of such Person as of such date in accordance with GAAP arising from the
Permitted Sale and Leaseback;

     

    (s)          additional
Indebtedness of the Borrower or any of its Subsidiaries in an aggregate
principal amount (for the Borrower and all Subsidiaries) not to exceed
$7,500,000 at any one time outstanding;

     

    (t)          
Indebtedness pursuant to an arrangement with a Governmental Authority having
terms substantially similar to those of the Canadian Government Loan in an
aggregate amount not to exceed $3,000,000 at any time and guarantees provided in
connection therewith;

     

    (u)          time-based
licenses of the Borrower or any Subsidiary in the ordinary course of business;
and

     

    (v)          any
Permitted Refinancing with respect to Sections 7.2(e), (q) and (r).

     

    7.3. 
       Liens. 
Create, incur, assume or suffer to exist any Lien upon any of its property,
whether now owned or hereafter acquired, except:

     

    (a)           Liens
for taxes, assessments or governmental charges or claims not yet due or that are
being contested in good faith by appropriate proceedings; provided, that
adequate reserves with respect thereto are maintained on the books of the
Borrower or its Subsidiaries, as the case may be, in conformity with
GAAP;

     

    (b)           carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s or other similar Liens
arising in the ordinary course of business that are not overdue for a period of
more than 30 days or that are being contested in good faith by appropriate
proceedings;

     

    (c)           pledges
or deposits in connection with workers’ compensation, unemployment insurance and
other social security legislation;

     

    (d)           deposits
to secure the performance of tenders, bids, trade contracts (other than for
borrowed money), leases, regulatory or statutory obligations, surety or appeal
bonds, tender or performance bonds, return of money bonds, bankers’ acceptances,
government contracts and other obligations of a like nature incurred in the
ordinary course of business;

     

    (e)           easements,
rights-of-way, municipal and zoning and building ordinances and similar charges,
encumbrances, title defects or other irregularities, governmental restrictions
on the use of property or conduct of business, and Liens in favor of
governmental authorities and public utilities, restrictions and other similar
encumbrances incurred in the ordinary course of business that, in the aggregate,
are not substantial in amount and that do not in any case materially interfere
with the ordinary conduct of the business of the Borrower and its Subsidiaries
(taken as a whole);

     

    
      
         

      

      
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    (f)           
Liens in existence on the date hereof listed on Schedule 7.3(f) and any
modifications, replacements, renewals or extensions thereof; provided, that (i)
such Lien shall not apply to any other property or asset (other than products or
proceeds) of the Borrower or any Subsidiary and (ii) such Lien shall secure only
those obligations that it secures on the date hereof and any Permitted
Refinancing thereof permitted by Section 7.2(v);

     

    (g)           (i)
Liens securing Indebtedness of the Borrower or any Subsidiary incurred pursuant
to Section 7.2(f) to finance the acquisition of fixed or capital assets; provided, that (A)
such Liens shall be created substantially simultaneously with the acquisition of
such fixed or capital assets and (B) such Liens do not at any time encumber any
property other than the property financed by such Indebtedness and the proceeds
and products thereof; and (ii) Liens securing any refinancing with respect to
such Indebtedness permitted by Section 7.2;

     

    (h)           Liens
created pursuant to the Security Documents;

     

    (i)           
any interest or title of a lessor under any lease or sublease or any licensor
under any license or sublicense entered into by the Borrower or any Subsidiary
in the ordinary course of its business and covering only the assets so
leased;

     

    (j)           
Liens pursuant to the Canadian Government Loan and Indebtedness permitted
pursuant to Section 7.2(t) on the assets, other than real property, of
Register.Com located at 150 Barrington Street, 12N, Halifax, Nova Scotia, and
all proceeds thereof;

     

    (k)           Liens
in favor of any Loan Party so long as such Liens are junior to the Liens created
pursuant to the Security Documents;

     

    (l)           
Liens arising from filing Uniform Commercial Code or personal property security
financing statements (or substantially equivalent filings outside of the United
States) regarding leases;

     

    (m)         
any option or other agreement to purchase any asset of the Company or any
Subsidiary, the purchase, sale or other disposition of which is not prohibited
by Section 7.5;

     

    (n)           Liens
arising from the rendering of an interim or final judgment or order against the
Company or any Subsidiary that does not give rise to an Event of Default, and
Liens imposed against the Company or any Subsidiary in connection with any claim
against the Company or Subsidiary so long as the claim is being contested in
good faith and does not materially adversely affect the business and operations
of the Company and its Subsidiaries, taken as a whole;

     

    (o)           Liens
on property (including Capital Stock) existing at the time of the permitted
acquisition of such property by the Borrower or any of its Subsidiaries to the
extent the Liens on such assets secure Indebtedness permitted by Section 7.2(q)
or other obligations permitted by this Agreement, provided that such
Liens attach at all times only to the same assets or category of assets that
such Liens (other than after acquired property that is affixed or incorporated
into the property covered by such Lien) attached to, and secure only the same
Indebtedness or obligations (or any Permitted Refinancing permitted by Section
7.2(v)) that such Liens secured, immediately prior to such permitted
acquisition;

    
      
         

      

      
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    (p)           cash
collateral arrangements made in accordance with Section 6.11 with respect to
Existing Letters of Credit permitted by Section 7.2(e);

     

    (q)           licenses,
sublicenses, leases and subleases of Intellectual Property of the Borrower or
any Subsidiary in the ordinary course of business; and

     

    (r)       
    Liens not otherwise permitted by this Section so long as
the aggregate principal amount of the obligations secured thereby does not
exceed (as to the Borrower and all Subsidiaries) $5,000,000 at any one
time.

     

    7.4. 
        Fundamental
Changes. 
Enter into any merger, consolidation or amalgamation, or liquidate, wind up or
dissolve itself (or suffer any liquidation or dissolution), or Dispose of all or
substantially all of its property or business, except that:

     

    (a)           any
Subsidiary of the Borrower may be merged or consolidated with or into the
Borrower (provided, that the
Borrower shall be the continuing or surviving corporation) or with or into any
other Subsidiary (provided, that when
any Wholly Owned Subsidiary Guarantor is merging with or into another
Subsidiary, such Wholly Owned Subsidiary Guarantor shall be the continuing or
surviving corporation);

     

    (b)           (i)
any Subsidiary of the Borrower may Dispose of any or all of its assets (x) to
the Borrower or any Wholly Owned Subsidiary Guarantor (upon voluntary
liquidation or otherwise) or (y) pursuant to a Disposition permitted by Section
7.5 and (ii) the Borrower may dispose of its assets pursuant to a Disposition
permitted by Section 7.5;

     

    (c)           any
Subsidiary of the Borrower that is not a Loan Party may dispose of all or
substantially all of its assets to the Borrower or any of its
Subsidiaries;

     

    (d)           the
Borrower and its Subsidiaries may consummate the Acquisition in accordance with
the Acquisition Agreement; and

     

    (e)           any
Investment expressly permitted by Section 7.7 may be structured as a merger,
consolidation or amalgamation.

     

    7.5. 
        Disposition of
Property. 
Dispose of any of its property, whether now owned or hereafter acquired, or, in
the case of any Subsidiary, issue or sell any shares of such Subsidiary’s
Capital Stock to any Person, except:

     

    (a)           the
Disposition of obsolete, worn out, retired or surplus property in the ordinary
course of business and Dispositions of property no longer used or useful in the
conduct of the business of the Borrower and its Subsidiaries;

     

    (b)           Dispositions
of inventory and Cash Equivalents in the ordinary course of
business;

     

    (c)           Dispositions
permitted by clause (i) of Section 7.4(b);

     

    (d)           the
sale or issuance of any Subsidiary’s Capital Stock to the Borrower or any Wholly
Owned Subsidiary Guarantor;

    
      
         

      

      
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    (e)           Dispositions
consisting of the sale, transfer, assignment or other disposition of unpaid and
overdue accounts receivable in connection with the collection, compromise or
settlement thereof in the ordinary course of business and not as part of a
financing transaction;

     

    (f)     
      Dispositions of property to the extent that
(i) such property is exchanged for credit against the purchase price of similar
replacement property or (ii) the proceeds of such Disposition are promptly
applied to the purchase price of such replacement property;

     

    (g)           Dispositions
resulting from casualty events;

     

    (h)           licenses,
sublicenses, leases and subleases of Intellectual Property of the Borrower or
any Subsidiary in the ordinary course of business; and

     

    (i)           
the Disposition of other property having a fair market value not to exceed
$5,000,000 in the aggregate for any period of two fiscal years of the
Borrower.

     

    7.6. 
        Restricted
Payments. 
Declare or pay any dividend (other than dividends payable solely in common stock
(including warrants, rights or options relating thereto of the Person making
such dividend) on, or make any payment on account of, or set apart assets for a
sinking or other analogous fund for, the purchase, redemption, defeasance,
retirement or other acquisition of, any Capital Stock of the Borrower or any
Subsidiary, whether now or hereafter outstanding, or make any other distribution
in respect thereof, either directly or indirectly, whether in cash or property
or in obligations of the Borrower or any Subsidiary (collectively, “Restricted
Payments”), except that:

     

    (a)           any
Subsidiary may make Restricted Payments to the Borrower or any Wholly Owned
Subsidiary Guarantor;

     

    (b)           any
Subsidiary that is not a Loan Party may make Restricted Payments to any other
Subsidiary that is not a Loan Party;

     

    (c)           the
Borrower may make repurchases of Capital Stock deemed to occur upon the exercise
of stock options, rights or warrants issued in accordance with any stock option
plan, any management, director and/or employee stock ownership or incentive plan
if such Capital Stock represents a portion of the exercise price of such
options, rights or warrants;

     

    (d)           the
Borrower or any Subsidiary may make any Restricted Payment required to be made
pursuant to the Acquisition Agreement as in effect on the Closing Date;
and

     

    (e)           the
Borrower may make repurchases of its Capital Stock not to exceed (x) $3,000,000
in any fiscal year of the Borrower if, at the time of the making of such
repurchase, the Consolidated Leverage Ratio shall be less than 2.25:1.00 but
greater than 1.50:1.00, or (y) $5,000,000 in any fiscal year of the Borrower, if
at the time of the making of such repurchase, the Consolidated Leverage Ratio
shall be less than or equal to 1.50:1.00, in each case determined on a pro forma
basis giving effect to such repurchase, as if such repurchase had been made at
the beginning of the most recent Reference Period.

     

    7.7. 
        Investments. 
Make any advance, loan, extension of credit (by way of guaranty or otherwise) or
capital contribution to, or purchase any Capital Stock, bonds, notes, debentures
or other debt securities of, or any assets constituting a business unit of, or
make any other investment in, any Person (all of the foregoing, “Investments”),
except:

    
      
         

      

      
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    (a)           extensions
of trade credit in the ordinary course of business;

     

    (b)           investments
in Cash Equivalents;

     

    (c)           Guarantee
Obligations permitted by Section 7.2;

     

    (d)           loans
and advances to directors, officers and employees of the Borrower or any of its
Subsidiaries in the ordinary course of business (including for travel,
entertainment and relocation expenses) in an aggregate amount for the Borrower
and its Subsidiaries not to exceed $500,000 at any one time
outstanding;

     

    (e)           the
Acquisition;

     

    (f)         
  Investments in assets useful in the business, other than current
assets, of the Borrower and its Subsidiaries made by the Borrower or any of its
Subsidiaries with the proceeds of any Reinvestment Deferred Amount;

     

    (g)           intercompany
Investments (i) by the Borrower or any of its Subsidiaries in the Borrower or
any Person that, prior to such investment, is a Wholly Owned Subsidiary
Guarantor and (ii) by any Subsidiary that is not a Loan Party in any other
Subsidiary that is not a Loan Party; and

     

    (h)           the
purchase or other acquisition (a “Permitted
Acquisition”) of all of the Capital Stock of, or all or substantially all
of the property of, any Person that, upon the consummation thereof, will be
wholly-owned directly by the Borrower or one or more of its wholly-owned
Subsidiaries (including as a result of a merger or consolidation); provided, that with
respect to each purchase or other acquisition made pursuant to this Section
7.7(h):

     

    (i)           any
such newly-created or acquired Subsidiary shall comply with the requirements of
Section 6.10;

     

    (ii)           the
lines of business of the Person to be (or the property of which is to be) so
purchased or otherwise acquired shall be substantially the same lines of
business, or reasonably related, incidental or complimentary thereto, as one or
more of the businesses in which the Borrower and its Subsidiaries are engaged on
the date of this Agreement (after giving effect to the
Acquisition);

     

    (iii)           the
total cash and noncash consideration (including the reasonably estimated amount
of earn-outs and other contingent payment obligations to, and the aggregate cash
amounts paid or to be paid under non-compete, consulting and other affiliated
agreements with, the sellers thereof, and all assumption of Indebtedness but
excluding noncash consideration in the form of the Borrower’s Capital Stock)
paid by or on behalf of the Borrower and its Subsidiaries for any such purchase
or other acquisition, when aggregated with the total cash and noncash
consideration paid by or on behalf of the Borrower and its Subsidiaries for all
other purchases and other acquisitions made by the Borrower and its Subsidiaries
pursuant to this Section 7.7(h), shall not exceed $30,000,000, and the cash and
noncash consideration for any individual purchase or acquisition or series of
related purchases or acquisitions shall not exceed $20,000,000;

    
      
         

      

      
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    (iv)           (A)
immediately before and immediately after giving effect on a pro forma basis to
any such purchase or other acquisition, no Default shall have occurred and be
continuing and (B) immediately after giving effect to such purchase or other
acquisition, the Borrower and its Subsidiaries shall be in pro forma compliance
with all of the covenants set forth in Section 7.1, such compliance to be
determined (i) on the basis of the financial information most recently delivered
to the Administrative Agent and the Lenders pursuant to Section 6.1(a) or (b) as
though such purchase or other acquisition had been consummated as of the first
day of the fiscal period covered thereby and (ii) as if such purchase or
acquisition is a Material Acquisition (even if such purchase or acquisition does
not involve the payment of consideration by the Borrower and its Subsidiaries in
excess of $10,000,000); and

     

    (v)           the
board of directors (or similar governing body) of the Person so purchased or
acquired shall not have indicated publicly its opposition to the consummation of
such purchase or acquisition (which opposition has not been publicly
withdrawn).

     

    (i)           promissory
notes and other non-cash consideration received in connection with Dispositions
permitted by Section 7.5 or received in connection with collections and
compromises of accounts receivable in the ordinary course of
business;

     

    (j)           Investments
acquired as a result of the purchase or other acquisition by the Borrower or any
of its Subsidiaries in connection with a Permitted Acquisition; provided, that such
Investments were not made in contemplation with such Permitted Acquisition and
were in existence at the time of such Permitted Acquisition; and

     

    (k)           in
addition to Investments otherwise expressly permitted by this Section,
Investments by the Borrower or any of its Subsidiaries in an aggregate amount
(valued at cost) not to exceed $5,000,000 during the term of this
Agreement.

     

    7.8. 
        Optional Payments and
Modifications of Certain Debt Instruments. 
(a)  (i) Make or offer to make any optional or voluntary payment or
prepayment of principal, repurchase or redemption of or otherwise optionally or
voluntarily defease or segregate funds with respect to the Subordinated Note at
any time prior to the third anniversary of the Closing Date, or thereafter at
any time that the Consolidated Leverage Ratio would, after giving effect to any
such payment, prepayment, repurchase, redemption, defeasement or segregation of
funds, be greater than 1.50:1.00; provided, that the
aggregate amount of all such payments, prepayments, repurchases, redemptions,
defeasements or segregation of funds shall not exceed $5,000,000; (ii) amend,
modify, waive or otherwise change, or consent or agree to any amendment,
modification, waiver or other change to, any of the terms of the Subordinated
Note (other than any such amendment, modification, waiver or other change that
(x) would not adversely affect the interests of the Lenders and (y) does not
involve the payment of a consent fee); or (iii) designate any Indebtedness
(other than obligations of the Loan Parties pursuant to the Loan Documents) as
“Senior Indebtedness” (or any other defined term having a similar purpose) for
the purposes of the Subordinated Note.

     

    (b) Make
any interest payments with respect to the Subordinated Note after a Default has
occurred.

     

    7.9. 
        Transactions with
Affiliates. 
Enter into any transaction, including any purchase, sale, lease or exchange of
property, the rendering of any service or the payment of any management,
advisory or similar fees, with any Affiliate (other than the Borrower or any
Wholly Owned Subsidiary Guarantor) unless such transaction is (a) otherwise
permitted under this Agreement and (b) upon fair and reasonable terms no
less favorable to the Borrower or any of its relevant Subsidiaries than it would
obtain in a comparable arm’s length transaction with a Person that is not an
Affiliate.

    
      
         

      

      
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    7.10. 
       Sales and
Leasebacks. 
Enter into any arrangement with any Person providing for the leasing by the
Borrower or any of its Subsidiaries of real or personal property that has been
or is to be sold or transferred by the Borrower or any such Subsidiary to such
Person or to any other Person to whom funds have been or are to be advanced by
such Person on the security of such property or rental obligations of the
Borrower or any such Subsidiary, other than the Permitted Sale and
Leaseback.

     

    7.11. 
       Swap
Agreements. 
Enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge
or mitigate risks to which the Borrower or any Subsidiary has actual exposure
(other than those in respect of Capital Stock) and (b) Swap Agreements entered
into in order to effectively cap, collar or exchange interest rates (from fixed
to floating rates, from one floating rate to another floating rate, from
floating to fixed rates or otherwise) with respect to any interest-bearing
liability or investment of the Borrower or any Subsidiary.

     

    7.12. 
       Changes in Fiscal
Periods. 
Permit the fiscal year of the Borrower to end on a day other than December 31 or
change the Borrower’s method of determining fiscal quarters.

     

    7.13. 
       Negative Pledge
Clauses. 
Enter into or suffer to exist or become effective any agreement that prohibits
or limits the ability of the Borrower or any of its Subsidiaries to create,
incur, assume or suffer to exist any Lien upon any of its property or revenues,
whether now owned or hereafter acquired, to secure its obligations under the
Loan Documents to which it is a party other than (a) this Agreement and the
other Loan Documents, (b) any agreements governing any purchase money Liens or
Capital Lease Obligations otherwise permitted hereby (in which case, any
prohibition or limitation shall only be effective against the assets financed
thereby), (c) any agreement in effect at the time any Subsidiary becomes a
Subsidiary of the Borrower, so long as such agreement was not entered into in
contemplation of such Person becoming a Subsidiary of the Borrower, as such
agreement may be amended, restated, supplemented, modified extended renewed or
replaced, so long as such amendment, restatement, supplement, modification,
extension, renewal or replacement does not expand in any material respect the
scope of any restriction contemplated by this Section 7.13 contained therein or
(d) customary provisions restricting assignments, subletting, sublicensing,
pledging or other transfers contained in leases, subleases, licenses or
sublicenses, so long as such restrictions are limited to the property or assets
subject to such leases, subleases, licenses or sublicenses, as the case may
be.

     

    7.14. 
       Clauses Restricting
Subsidiary Distributions. 
Enter into or suffer to exist or become effective any consensual encumbrance or
restriction on the ability of any Subsidiary of the Borrower to (a) make
Restricted Payments in respect of any Capital Stock of such Subsidiary held by,
or pay any Indebtedness owed to, the Borrower or any other Subsidiary of the
Borrower, (b) make loans or advances to, or other Investments in, the Borrower
or any other Subsidiary of the Borrower or (c) transfer any of its assets to the
Borrower or any other Subsidiary of the Borrower, except for such encumbrances
or restrictions existing under or by reason of (i) any restrictions existing
under the Loan Documents, (ii) any restrictions with respect to a Subsidiary
imposed pursuant to an agreement that has been entered into in connection with
the Disposition of all or substantially all of the Capital Stock or assets of
such Subsidiary, (iii) any restriction under any agreement in effect at the time
any Subsidiary becomes a Subsidiary of the Borrower, so long as such agreement
was not entered into in contemplation of such Person becoming a Subsidiary of
the Borrower, as such agreement may be amended, restated, supplemented, modified
extended renewed or replaced, so long as such amendment, restatement,
supplement, modification, extension, renewal or replacement does not expand in
any material respect the scope of any restriction contemplated by this Section
7.14 contained therein or (iv) customary provisions restricting assignments,
subletting, sublicensing, pledging or other transfers contained in leases,
subleases, licenses or sublicenses, so long as such restrictions are limited to
the property or assets subject to such leases, subleases, licenses or
sublicenses, as the case may be.

    
      
         

      

      
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    7.15. 
       Lines of
Business. 
Enter into any business, either directly or through any Subsidiary, except for
those businesses in which the Borrower and its Subsidiaries are engaged on the
date of this Agreement (after giving effect to the Acquisition) or that are
reasonably related, incidental or complementary thereto, or reasonable
extensions thereof.

     

    7.16. 
       Amendments to Acquisition
Documents. 
(a)  Amend, supplement or otherwise modify (pursuant to a waiver or
otherwise) the terms and conditions of the indemnities and licenses furnished to
the Borrower or any of its Subsidiaries pursuant to the Acquisition
Documentation such that after giving effect thereto such indemnities or licenses
shall be materially less favorable to the interests of the Loan Parties or the
Lenders or (b) otherwise amend, supplement or otherwise modify the terms and
conditions of the Acquisition Documentation or any such other documents except
for any such amendment, supplement or modification that (i) becomes effective
after the Closing Date and (ii) could not reasonably be expected to have a
Material Adverse Effect.

     

    SECTION
8.   EVENTS OF DEFAULT

     

    8.1. 
         Events of
Default. 
If any of the following events shall occur and be continuing:

     

    (a)           
the Borrower shall fail to pay any principal of any Loan or Reimbursement
Obligation when due in accordance with the terms hereof; or the Borrower shall
fail to pay any interest on any Loan or Reimbursement Obligation, or any other
amount payable hereunder or under any other Loan Document, within five days
after any such interest or other amount becomes due in accordance with the terms
hereof; or

     

    (b)           any
representation or warranty made or deemed made by any Loan Party herein or in
any other Loan Document or that is contained in any certificate, document or
financial or other statement furnished by it at any time under or in connection
with this Agreement or any such other Loan Document shall prove to have been
inaccurate in any material respect on or as of the date made or deemed made;
or

     

    (c)           any
Loan Party shall default in the observance or performance of any agreement
contained in clause (i) or (ii) of Section 6.4(a) (with respect to the Borrower
only), Section 6.7(a) or Section 7 of this Agreement or Sections 5.5 and 5.7(b)
of the Guarantee and Collateral Agreement; or

     

    (d)           any
Loan Party shall default in the observance or performance of any other agreement
contained in this Agreement or any other Loan Document (other than as provided
in paragraphs (a) through (c) of this Section), and such default shall continue
unremedied for a period of 30 days after notice to the Borrower from the
Administrative Agent or the Required Lenders; or

     

    
      
         

      

      
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    (e)           the
Borrower or any Subsidiary shall (i) default under the Subordinated Note; (ii)
default in making any payment of any principal of any Indebtedness (including
any Guarantee Obligation, and including, for purposes of this Section 8.1(e),
obligations in respect of Swap Agreements, but excluding the Loans) on the
scheduled or original due date with respect thereto; (iii) default in making any
payment of any interest on any such Indebtedness beyond the period of grace, if
any, provided in the instrument or agreement under which such Indebtedness was
created; or (iv) default in the observance or performance of any other agreement
or condition relating to any such Indebtedness or contained in any instrument or
agreement evidencing, securing or relating thereto, or any other event shall
occur or condition exist, the effect of which default or other event or
condition is to cause, or to permit the holder or beneficiary of such
Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to
cause, with the giving of notice if required, such Indebtedness to become due
prior to its stated maturity or (in the case of any such Indebtedness
constituting a Guarantee Obligation) to become payable; provided, that a
default, event or condition described in clause (i), (ii), (iii) or (iv) of this
paragraph (e) shall not at any time constitute an Event of Default unless, at
such time, one or more defaults, events or conditions of the type described in
clauses (i), (ii), (iii) and (iv) of this paragraph (e) shall have occurred and
be continuing with respect to Indebtedness the aggregate outstanding principal
amount of which is $5,000,000 or more; or

     

    (f)           (i)
the Borrower or any Subsidiary (other than an Immaterial Subsidiary) shall
commence any case, proceeding or other action (A) under any existing or future
law of any jurisdiction, domestic or foreign, relating to bankruptcy,
insolvency, reorganization or relief of debtors, seeking to have an order for
relief entered with respect to it, or seeking to adjudicate it as bankrupt or
insolvent, or seeking reorganization, arrangement, adjustment, winding-up,
liquidation, dissolution, composition or other relief with respect to it or its
debts, or (B) seeking appointment of a receiver, trustee, custodian, conservator
or other similar official for it or for all or any substantial part of its
assets; or (ii) there shall be commenced against the Borrower or any Subsidiary
(other than an Immaterial Subsidiary) any case, proceeding or other action of a
nature referred to in clause (i) above that (A) results in the entry of an order
for relief or any such adjudication or appointment or (B) remains undismissed or
undischarged for a period of 60 days; or (iii) there shall be commenced against
the Borrower or any Subsidiary (other than an Immaterial Subsidiary) any case,
proceeding or other action seeking issuance of a warrant of attachment,
execution, distraint or similar process against all or any substantial part of
its assets that results in the entry of an order for any such relief that shall
not have been vacated, discharged, or stayed or bonded pending appeal within 60
days from the entry thereof; or (iv) the Borrower or any Subsidiary (other than
an Immaterial Subsidiary) shall authorize any action set forth in clause (i),
(ii), or (iii) above; or (v) the Borrower or any Subsidiary (other than an
Immaterial Subsidiary) shall generally not, or shall be unable to, or shall
admit in writing its inability to, pay its debts as they become due; or (vi) or
the Borrower or any Subsidiary (other than an Immaterial Subsidiary) shall make
a general assignment for the benefit of its creditors; or

     

    (g)           (i)
an ERISA Event shall have occurred, (ii) a trustee shall be appointed by a
United States district court to administer any Pension Plan, (iii) the PBGC
shall institute proceedings to terminate any Pension Plan(s), (iv) any Loan
Party or any of their respective ERISA Affiliates shall have been notified by
the sponsor of a Multiemployer Plan that it has incurred or will be assessed
Withdrawal Liability to such Multiemployer Plan and such entity does not have
reasonable grounds for contesting such Withdrawal Liability or is not contesting
such Withdrawal Liability in a timely and appropriate manner; or (v) any other
event or condition shall occur or exist with respect to a Plan; and in each case
in clauses (i) through (v) above, such event or condition, together with all
other such events or conditions, if any, could reasonably be expected to have a
Material Adverse Effect; or

     

    (h)           one
or more final monetary judgments or decrees shall be entered against the
Borrower or any Subsidiary (to the extent not paid or covered by insurance as to
which the relevant insurance company has not denied coverage) of $5,000,000 or
more, which such judgments or decrees are not paid, discharged, satisfied,
annulled, rescinded, vacated, discharged, stayed or bonded pending appeal for a
period of 60 days; or

    
      
         

      

      
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    (i)         
  any of the Security Documents shall cease, for any reason, to be in
full force and effect, or any Loan Party or any Affiliate of any Loan Party
shall so assert, or any Lien created by any of the Security Documents shall
cease to be enforceable and of the same effect and priority purported to be
created thereby; or

     

    (j)           
 the guarantee contained in Section 2 of the Guarantee and Collateral
Agreement shall cease, for any reason, to be in full force and effect or any
Loan Party or any Affiliate of any Loan Party shall so assert; or

     

    (k)           
a Change in Control shall occur; or

     

    (l)            
the Subordinated Note or any guarantee thereof shall cease, for any reason, to
be validly subordinated to the Obligations or the obligations of the Subsidiary
Guarantors under the Guarantee and Collateral Agreement, as the case may be, as
provided in the Subordinated Note, or the Borrower or any of its Subsidiaries
shall so assert;

     

    then, and
in any such event, (A) if such event is an Event of Default specified in clause
(i) or (ii) of paragraph (f) above with respect to the Borrower, automatically
the Commitments shall immediately terminate and the Loans (with accrued interest
thereon) and all other amounts owing under this Agreement and the other Loan
Documents (including all amounts of L/C Obligations, whether or not the
beneficiaries of the then outstanding Letters of Credit shall have presented the
documents required thereunder) shall immediately become due and payable, and (B)
if such event is any other Event of Default, either or both of the following
actions may be taken:  (i) with the consent of the Required Lenders,
the Administrative Agent may, or upon the request of the Required Lenders, the
Administrative Agent shall, by notice to the Borrower declare the Revolving
Commitments to be terminated forthwith, whereupon the Revolving Commitments
shall immediately terminate; and (ii) with the consent of the Required Lenders,
the Administrative Agent may, or upon the request of the Required Lenders, the
Administrative Agent shall, by notice to the Borrower, declare the Loans (with
accrued interest thereon) and all other amounts owing under this Agreement and
the other Loan Documents (including all amounts of L/C Obligations, whether or
not the beneficiaries of the then outstanding Letters of Credit shall have
presented the documents required thereunder) to be due and payable forthwith,
whereupon the same shall immediately become due and payable.  With respect
to all Letters of Credit with respect to which presentment for honor shall not
have occurred at the time of an acceleration pursuant to this paragraph, the
Borrower shall at such time deposit in a cash collateral account opened by the
Administrative Agent an amount equal to the aggregate then undrawn and unexpired
amount of such Letters of Credit.  Amounts held in such cash collateral
account shall be applied by the Administrative Agent to the payment of drafts
drawn under such Letters of Credit, and the unused portion thereof after all
such Letters of Credit shall have expired or been fully drawn upon, if any,
shall be applied to repay other obligations of the Borrower hereunder and under
the other Loan Documents.  After all such Letters of Credit shall have
expired or been fully drawn upon, all Reimbursement Obligations shall have been
satisfied and all other obligations of the Borrower hereunder and under the
other Loan Documents shall have been paid in full, the balance, if any, in such
cash collateral account shall be returned to the Borrower (or such other Person
as may be lawfully entitled thereto).  Except as expressly provided above
in this Section, presentment, demand, protest and all other notices of any kind
are hereby expressly waived by the Borrower.

     

    8.2. 
         Application of
Proceeds. 
The proceeds received by the Administrative Agent in respect of any sale of,
collection from or other realization upon all or any part of the Collateral
pursuant to the exercise by the Administrative Agent of its remedies shall be
applied, in full or in part, together with any other sums then held by the
Administrative Agent pursuant to this Agreement, promptly by the Administrative
Agent as follows:

    
      
         

      

      
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    (a)           First, to the payment
of all reasonable costs and expenses, fees, commissions and taxes of such sale,
collection or other realization including compensation to the Administrative
Agent and its agents and counsel, and all expenses, liabilities and advances
made or incurred by the Administrative Agent in connection therewith and all
amounts for which the Administrative Agent is entitled to indemnification
pursuant to the provisions of any Loan Document, together with interest on each
such amount pursuant to Section 2.14 from and after the date such amount is due,
owing or unpaid until paid in full;  

     

    (b)           Second, to the
payment of all other reasonable out-of-pocket costs and expenses of such sale,
collection or other realization including compensation to the other Secured
Parties and their agents and counsel and all costs, liabilities and advances
made or incurred by the other Secured Parties in connection therewith, together
with interest on each such amount at the highest rate then in effect under this
Agreement from and after the date such amount is due, owing or unpaid until paid
in full;  

     

    (c)           Third, to the payment
in full in cash of the principal amount of the Obligations (excluding
Obligations in respect of Specified Cash Management Agreements), any interest
and premium thereon and any breakage, termination or other payments under
agreements constituting Obligations and any interest accrued thereon; and
 

     

    (d)           Fourth, to the
payment in full in cash of the principal amount of the Obligations in respect of
Specified Cash Management Agreements, and any interest and premium thereon; and
 

     

    (e)           Fifth, the balance
remaining after the Obligations shall have been paid in full, no Letters of
Credit shall be outstanding and the Commitments shall have terminated, if any,
to the person lawfully entitled thereto (including the applicable Loan Party or
its successors or assigns) or as a court of competent jurisdiction may direct.
 

     

    In the
event that any such proceeds are insufficient to pay in full the items described
in clauses (a) through (e) of this Section 8.2, the Loan Parties shall remain
liable, jointly and severally, for any deficiency.

     

    SECTION
9.     THE AGENTS

     

    9.1. 
         Appointment. 
Each Lender hereby irrevocably designates and appoints the Administrative Agent
as the agent of such Lender under this Agreement, the other Loan Documents, and
the Specified Swap Agreements and each such Lender irrevocably authorizes the
Administrative Agent, in such capacity, to take such action on its behalf under
the provisions of this Agreement, the other Loan Documents, and the Specified
Swap Agreements and to exercise such powers and perform such duties as are
expressly delegated to the Administrative Agent by the terms of this Agreement,
the other Loan Documents, and the Specified Swap Agreements, together with such
other powers as are reasonably incidental thereto.   Notwithstanding
any provision to the contrary elsewhere in this Agreement, the Administrative
Agent shall not have any duties or responsibilities, except those expressly set
forth herein, or any fiduciary relationship with any Lender, and no implied
covenants, functions, responsibilities, duties, obligations or liabilities shall
be read into this Agreement or any other Loan Document or otherwise exist
against the Administrative Agent.

     

    9.2. 
         Delegation of
Duties. 
The Administrative Agent may execute any of its duties under this Agreement and
the other Loan Documents by or through agents or attorneys-in-fact and shall be
entitled to advice of counsel concerning all matters pertaining to such
duties.  The Administrative Agent shall not be responsible for the
negligence or misconduct of any agents or attorneys-in-fact selected by it with
reasonable care.

     

    
      
         

      

      
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    9.3. 
         Exculpatory
Provisions. 
Neither any Agent nor any of their respective officers, directors, employees,
agents, advisors, attorneys-in-fact or affiliates shall be (i) liable for any
action lawfully taken or omitted to be taken by it or such Person under or in
connection with this Agreement or any other Loan Document (except to the extent
that any of the foregoing are found by a final and nonappealable decision of a
court of competent jurisdiction to have resulted from its or such Person’s own
gross negligence or willful misconduct) or (ii) responsible in any manner to any
of the Lenders for any recitals, statements, representations or warranties made
by any Loan Party or any officer thereof contained in this Agreement or any
other Loan Document or in any certificate, report, statement or other document
referred to or provided for in, or received by the Agents under or in connection
with, this Agreement or any other Loan Document or for the value, validity,
effectiveness, genuineness, enforceability or sufficiency of this Agreement or
any other Loan Document or for any failure of any Loan Party a party thereto to
perform its obligations hereunder or thereunder.  The Agents shall not be
under any obligation to any Lender to ascertain or to inquire as to the
observance or performance of any of the agreements contained in, or conditions
of, this Agreement or any other Loan Document, or to inspect the properties,
books or records of any Loan Party.

     

    9.4. 
         Reliance by Administrative
Agent. 
The Administrative Agent shall be entitled to rely, and shall be fully protected
in relying, upon any instrument, writing, resolution, notice, consent,
certificate, affidavit, letter, telecopy or email message, statement, order or
other document or conversation believed by it to be genuine and correct and to
have been signed, sent or made by the proper Person or Persons and upon advice
and statements of legal counsel (including counsel to the Borrower), independent
accountants and other experts selected by the Administrative Agent.  If the
payee of any Note is listed as a Lender in the Register, the Administrative
Agent may deem and treat the payee of any Note as the owner thereof to the
extent of such Payee’s registered principal and stated interest on any Loan for
all purposes unless a written notice of assignment, negotiation or transfer
thereof shall have been filed with the Administrative Agent.  The
Administrative Agent shall be fully justified in failing or refusing to take any
action under this Agreement or any other Loan Document unless it shall first
receive such advice or concurrence of the Required Lenders (or, if so specified
by this Agreement, all Lenders) as it deems appropriate or it shall first be
indemnified to its satisfaction by the Lenders against any and all liability and
expense that may be incurred by it by reason of taking or continuing to take any
such action.  The Administrative Agent shall in all cases be fully
protected in acting, or in refraining from acting, under this Agreement and the
other Loan Documents in accordance with a request of the Required Lenders (or,
if so specified by this Agreement, all Lenders), and such request and any action
taken or failure to act pursuant thereto shall be binding upon all the Lenders
and all future holders of the Loans.

     

    9.5. 
         Notice of
Default. 
The Administrative Agent shall not be deemed to have knowledge or notice of the
occurrence of any Default or Event of Default unless the Administrative Agent
has received notice from a Lender or the Borrower referring to this Agreement,
describing such Default or Event of Default and stating that such notice is a
“notice of default”.  In the event that the Administrative Agent receives
such a notice, the Administrative Agent shall give notice thereof to the
Lenders.  The Administrative Agent shall take such action with respect to
such Default or Event of Default as shall be reasonably directed by the Required
Lenders (or, if so specified by this Agreement, all Lenders); provided, that unless
and until the Administrative Agent shall have received such directions, the
Administrative Agent may (but shall not be obligated to) take such action, or
refrain from taking such action, with respect to such Default or Event of
Default as it shall deem advisable in the best interests of the
Lenders.

    
      
         

      

      
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    9.6. 
         Non-Reliance on Agents and
Other Lenders. 
Each Lender expressly acknowledges that neither the Agents nor any of their
respective officers, directors, employees, agents, advisors, attorneys-in-fact
or affiliates have made any representations or warranties to it and that no act
by any Agent hereafter taken, including any review of the affairs of a Loan
Party or any affiliate of a Loan Party, shall be deemed to constitute any
representation or warranty by any Agent to any Lender.  Each Lender
represents to the Agents that it has, independently and without reliance upon
any Agent or any other Lender, and based on such documents and information as it
has deemed appropriate, made its own appraisal of and investigation into the
business, operations, property, financial and other condition and
creditworthiness of the Loan Parties and their affiliates and made its own
decision to make its Loans hereunder and enter into this Agreement.  Each
Lender also represents that it will, independently and without reliance upon any
Agent or any other Lender, and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit analysis,
appraisals and decisions in taking or not taking action under this Agreement and
the other Loan Documents, and to make such investigation as it deems necessary
to inform itself as to the business, operations, property, financial and other
condition and creditworthiness of the Loan Parties and their affiliates. 
Except for notices, reports and other documents expressly required to be
furnished to the Lenders by the Administrative Agent hereunder, the
Administrative Agent shall not have any duty or responsibility to provide any
Lender with any credit or other information concerning the business, operations,
property, condition (financial or otherwise), prospects or creditworthiness of
any Loan Party or any affiliate of a Loan Party that may come into the
possession of the Administrative Agent or any of its officers, directors,
employees, agents, advisors, attorneys-in-fact or affiliates.

     

    9.7. 
         Indemnification. 
The Lenders agree to indemnify the Administrative Agent and its officers,
directors, employees, affiliates, agents, advisors and controlling persons
(each, an “Agent
Indemnitee”)  (to the extent not reimbursed by the Borrower and
without limiting the obligation of the Borrower to do so), ratably according to
their respective Aggregate Exposure Percentages in effect on the date on which
indemnification is sought under this Section (or, if indemnification is sought
after the date upon which the Commitments shall have terminated and the Loans
shall have been paid in full, ratably in accordance with such Aggregate Exposure
Percentages immediately prior to such date), from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses or disbursements of any kind whatsoever that may at any time
(whether before or after the payment of the Loans) be imposed on, incurred by or
asserted against such Agent Indemnitee in any way relating to or arising out of,
the Commitments, this Agreement, any of the other Loan Documents or any
documents contemplated by or referred to herein or therein or the transactions
contemplated hereby or thereby or any action taken or omitted by such Agent
Indemnitee under or in connection with any of the foregoing; provided, that no
Lender shall be liable for the payment of any portion of such liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements that are found by a final and nonappealable decision
of a court of competent jurisdiction to have resulted from such Agent
Indemnitee’s gross negligence or willful misconduct.  The agreements in
this Section shall survive the termination of this Agreement and the payment of
the Loans and all other amounts payable hereunder.

     

    9.8. 
         Agent in Its Individual
Capacity. 
Each Agent and its affiliates may make loans to, accept deposits from and
generally engage in any kind of business with any Loan Party as though such
Agent were not an Agent.  With respect to its Loans made or renewed by it
and with respect to any Letter of Credit issued or participated in by it, each
Agent shall have the same rights and powers under this Agreement and the other
Loan Documents as any Lender and may exercise the same as though it were not an
Agent, and the terms “Lender” and “Lenders” shall include each Agent in its
individual capacity.

    
      
         

      

      
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    9.9. 
         Successor Administrative
Agent. 
The Administrative Agent may resign as Administrative Agent upon 10 days’ notice
to the Lenders and the Borrower.  If the Administrative Agent shall resign
as Administrative Agent under this Agreement and the other Loan Documents, then
the Required Lenders shall appoint a successor agent for the Lenders, which
shall be a financial institution, which successor agent shall (unless an Event
of Default under Section 8.1(a) or Section 8.1(f) with respect to the Borrower
shall have occurred and be continuing) be subject to approval by the Borrower
(which approval shall not be unreasonably withheld or delayed), whereupon such
successor agent shall succeed to the rights, powers and duties of the
Administrative Agent, and the term “Administrative Agent” shall mean such
successor agent effective upon such appointment and approval, and the former
Administrative Agent’s rights, powers and duties as Administrative Agent shall
be terminated, without any other or further act or deed on the part of such
former Administrative Agent or any of the parties to this Agreement or any
holders of the Loans.  If no successor agent has accepted appointment as
Administrative Agent by the date that is 10 days following a retiring
Administrative Agent’s notice of resignation, the retiring Administrative
Agent’s resignation shall nevertheless thereupon become effective, and the
Lenders shall assume and perform all of the duties of the Administrative Agent
hereunder until such time, if any, as the Required Lenders appoint a successor
agent as provided for above.  After any retiring Administrative Agent’s
resignation as Administrative Agent, the provisions of this Section 9 and of
Section 10.5 shall continue to inure to its benefit as to any actions taken or
omitted to be taken by it while it was Administrative Agent under this Agreement
and the other Loan Documents.

     

    9.10. 
       Syndication
Agent. 
The Syndication Agent shall not have any duties or responsibilities hereunder in
its capacity as such.

     

    SECTION
10.     MISCELLANEOUS

     

    10.1. 
       Amendments and
Waivers. 
Neither this Agreement, any other Loan Document, nor any terms hereof or thereof
may be amended, supplemented or modified except in accordance with the
provisions of this Section 10.1.  The Required Lenders and each Loan Party
party to the relevant Loan Document may, or, with the written consent of the
Required Lenders, the Administrative Agent and each Loan Party party to the
relevant Loan Document may, from time to time, (a) enter into written
amendments, supplements or modifications hereto and to the other Loan Documents
for the purpose of adding any provisions to this Agreement or the other Loan
Documents or changing in any manner the rights of the Lenders or of the Loan
Parties hereunder or thereunder or (b) waive, on such terms and conditions as
the Required Lenders or the Administrative Agent, as the case may be, may
specify in such instrument, any of the requirements of this Agreement or the
other Loan Documents or any Default or Event of Default and its consequences;
provided, however, that no such
waiver and no such amendment, supplement or modification shall (i) forgive the
principal amount or extend the final scheduled date of maturity of any Loan,
extend the scheduled date of any amortization payment in respect of any Term
Loan, reduce the stated rate of any interest or fee payable hereunder (except
(x) in connection with the waiver of applicability of any post-default increase
in interest rates (which waiver shall be effective with the consent of the
Majority Facility Lenders of each adversely affected Facility) and (y) that any
amendment or modification of defined terms used in the financial covenants in
this Agreement shall not constitute a reduction in the rate of interest or fees
for purposes of this clause (i)) or extend the scheduled date of any payment
thereof, or increase the amount or extend the expiration date of any Lender’s
Revolving Commitment, in each case without the written consent of each Lender
directly affected thereby; (ii) eliminate or reduce the voting rights of any
Lender under this Section 10.1 without the written consent of such Lender; (iii)
reduce any percentage specified in the definition of Required Lenders, consent
to the assignment or transfer by the Borrower of any of its rights and
obligations under this Agreement and the other Loan Documents, release all or
substantially all of the Collateral or release all or substantially all of the
Subsidiary Guarantors from their obligations under the Guarantee and Collateral
Agreement, in each case without the written consent of all Lenders;
(iv) amend, modify or waive any provision of Section 2.17 without the
written consent of all Lenders; (v) reduce the percentage specified in the
definition of Majority Facility Lenders with respect to any Facility without the
written consent of all Lenders under such Facility; (vi) amend, modify or waive
any provision of Section 9 or any other provision of any Loan Document that
primarily affects the Administrative Agent without the written consent of the
Administrative Agent; (vii) amend, modify or waive any provision of Section 2.6
or 2.7 without the written consent of the Swingline Lender; (viii) amend, modify
or waive any provision of Section 3 without the written consent of the Issuing
Lender; (ix) amend Section 2.23 without the written consent of the Required
Lenders, the Administrative Agent, the Swingline Lender and the Issuing Lender;
or (x) amend, modify or waive any provision of Section 8.2 without the written
consent of all Lenders.  Any such waiver and any such amendment, supplement
or modification shall apply equally to each of the Lenders and shall be binding
upon the Loan Parties, the Lenders, the Administrative Agent and all future
holders of the Loans.  In the case of any waiver, the Loan Parties, the
Lenders and the Administrative Agent shall be restored to their former position
and rights hereunder and under the other Loan Documents, and any Default or
Event of Default waived shall be deemed to be cured and not continuing; but no
such waiver shall extend to any subsequent or other Default or Event of Default,
or impair any right consequent thereon.  To the extent that this Section
10.1 requires the consent of all Lenders to any amendment, waiver or
modification, a Defaulting Lender’s vote shall not be included; provided, that (i)
such Defaulting Lender’s Commitment may not be increased or extended without its
consent and (ii) the principal amount of, or interest or fees payable on, Loans
or L/C Disbursements may not be reduced or excused or the scheduled date of
payment may not be postponed as to such Defaulting Lender without such
Defaulting Lender’s consent.

    
      
         

      

      
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    In
connection with any proposed amendment, modification, waiver or termination (a
“Proposed
Change”) requiring the consent of all Lenders or all directly and
adversely affected Lenders, if the consent of the Required Lenders (and, to the
extent any Proposed Change requires the consent of Lenders holding Loans of any
Class pursuant to clause (v) of the preceding paragraph of this Section,
the consent of the Majority Facility Lenders of the outstanding Loans and unused
Commitments of such Class) to such Proposed Change is obtained, but the consent
to such Proposed Change of other Lenders whose consent is required is not
obtained (any such Lender whose consent is not obtained as described in
paragraph (b) of this Section being referred to as a “Non-Consenting
Lender”), then, so long as the Lender that is acting as Administrative
Agent is not a Non-Consenting Lender, the Borrower may, at its sole expense and
effort, upon notice to such Non-Consenting Lender and the Administrative Agent,
require such Non-Consenting Lender to assign and delegate, without recourse (in
accordance with and subject to the restrictions contained in Section 10.6), all
its interests, rights and obligations under this Agreement to an assignee that
shall assume such obligations (which assignee may be another Lender, if a Lender
accepts such assignment); provided, that (a)
the Borrower shall have received the prior written consent of the Administrative
Agent to the extent such consent would be required under Section 10.6(b) for an
assignment of Loans or Commitments, as applicable (and, if a Revolving
Commitment is being assigned, each Issuing Lender and Swingline Lender), which
consent shall not unreasonably be withheld, (b) such Non-Consenting Lender shall
have received payment of an amount equal to the outstanding principal of its
Loans and participations in L/C Disbursements and Swingline Loans, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder
from the assignee (to the extent of such outstanding principal and accrued
interest and fees) or the Borrower (in the case of all other amounts) and
(c) unless waived, the Borrower or such assignee shall have paid to the
Administrative Agent the processing and recordation fee specified in Section
10.6(b).

     

    Notwithstanding
the foregoing, this Agreement may be amended (or amended and restated) with the
written consent of the Required Lenders, the Administrative Agent and the
Borrower (a) to add one or more additional credit facilities to this Agreement
and to permit the extensions of credit from time to time outstanding thereunder
and the accrued interest and fees in respect thereof to share ratably in the
benefits of this Agreement and the other Loan Documents with the Term Loans and
Revolving Extensions of Credit and the accrued interest and fees in respect
thereof and (b) to include appropriately the Lenders holding such credit
facilities in any determination of the Required Lenders and Majority Facility
Lenders.

    
      
         

      

      
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    In
addition, notwithstanding the foregoing, this Agreement may be amended with the
written consent of the Administrative Agent, the Borrower and the Lenders
providing the relevant Replacement Term Loans (as defined below) to permit the
refinancing, replacement or modification of all outstanding Term Loans (“Replaced Term Loans”)
with a replacement term loan hereunder (“Replacement Term
Loans”); provided, that (a)
the aggregate principal amount of such Replacement Term Loans shall not exceed
the aggregate principal amount of such Replaced Term Loans, (b) the Applicable
Margin for such Replacement Term Loans shall not be higher than the Applicable
Margin for such Replaced Term Loans and (c) the weighted average life to
maturity of such Replacement Term Loans shall not be shorter than the weighted
average life to maturity of such Replaced Term Loans at the time of such
refinancing.

     

    10.2. 
       Notices. 
All notices, requests and demands to or upon the respective parties hereto to be
effective shall be in writing (including by telecopy), and, unless otherwise
expressly provided herein, shall be deemed to have been duly given or made when
delivered, or three Business Days after being deposited in the mail, postage
prepaid, or, in the case of telecopy notice, when received, addressed as follows
in the case of  the Borrower and the Administrative Agent, and as set
forth in an administrative questionnaire delivered to the Administrative Agent
in the case of the Lenders, or to such other address as may be hereafter
notified by the respective parties hereto:

     

    
      
        	
                Borrower:

              	
                12808
      Gran Bay Parkway West

                Jacksonville,
      Florida 32258

              
	 
      	
                Attention:  Chief
      Financial Officer

              
	 
      	
                Telecopy:  (904)
      880-0350

              
	 
      	
                Telephone:  (904)
      680-6600

              
	 
      	 
      
	
                Administrative
      Agent:

              	
                Royal
      Bank of Canada

                Address:
      P.O. Box 50, 200 Bay Street

                Royal
      Bank Plaza

                12th
      Floor, South Tower

                Toronto,
      Ontario

                M5J2W7

              
	 
      	
                Attention:
      Manager, Agency

              
	 
      	
                Facsimile:
      (416) 842-4023

              
	 
      	 
      

      

    

    provided, that any
notice, request or demand to or upon the Administrative Agent or the Lenders
shall not be effective until received.

     

    Notices
and other communications to the Lenders hereunder may be delivered or furnished
by electronic communications pursuant to procedures approved by the
Administrative Agent; provided, that the
foregoing shall not apply to notices pursuant to Section 2 unless otherwise
agreed by the Administrative Agent and the applicable Lender.  The
Administrative Agent or the Borrower may, in its discretion, agree to accept
notices and other communications to it hereunder by electronic communications
pursuant to procedures approved by it; provided, that
approval of such procedures may be limited to particular notices or
communications.

     

    10.3. 
       No Waiver; Cumulative
Remedies. 
No failure to exercise and no delay in exercising, on the part of the
Administrative Agent or any Lender, any right, remedy, power or privilege
hereunder or under the other Loan Documents shall operate as a waiver thereof;
nor shall any single or partial exercise of any right, remedy, power or
privilege hereunder preclude any other or further exercise thereof or the
exercise of any other right, remedy, power or privilege.  The rights,
remedies, powers and privileges herein provided are cumulative and not exclusive
of any rights, remedies, powers and privileges provided by law.

    
      
         

      

      
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    10.4. 
       Survival of Representations
and Warranties. 
All representations and warranties made hereunder, in the other Loan Documents
and in any document, certificate or statement delivered pursuant hereto or in
connection herewith shall survive the execution and delivery of this Agreement
and the making of the Loans and other extensions of credit
hereunder.

     

    10.5. 
       Payment of Expenses and
Taxes. 
The Borrower agrees (a) to pay or reimburse the Administrative Agent for all its
reasonable and documented out-of-pocket costs and expenses incurred in
connection with the development, preparation and execution of, and any
amendment, supplement or modification to, this Agreement and the other Loan
Documents and any other documents prepared in connection herewith or therewith,
and the consummation and administration of the transactions contemplated hereby
and thereby, including the reasonable fees and disbursements of counsel to the
Administrative Agent and filing and recording fees and expenses, with statements
with respect to the foregoing to be submitted to the Borrower prior to the
Closing Date (in the case of amounts to be paid on the Closing Date) and from
time to time thereafter on a quarterly basis or such other periodic basis as the
Administrative Agent shall deem appropriate, (b) to pay or reimburse each Lender
and the Administrative Agent for all its reasonable and documented out-of-pocket
costs and expenses incurred in connection with the enforcement or preservation
of any rights under this Agreement, the other Loan Documents and any such other
documents, including the fees and disbursements of counsel to each Lender and of
counsel to the Administrative Agent; provided, that the
Borrower shall not be liable for the fees and disbursements of more than one
separate firm for the Lenders (unless there shall exist an actual conflict of
interest among the Lenders) and one separate firm for the Agents in connection
with any one action or any separate but substantially similar or related actions
in the same jurisdiction, (c) to pay, indemnify, and hold each Lender and the
Administrative Agent harmless from, any and all recording and filing fees and
any and all liabilities with respect to, or resulting from any delay in paying,
stamp, excise and similar taxes, if any, other than those caused by the willful
misconduct or gross negligence of the Administrative Agent or any Lender that
may be payable or determined to be payable in connection with the execution and
delivery of, or consummation or administration of any of the transactions
contemplated by, or any amendment, supplement or modification of, or any waiver
or consent under or in respect of, this Agreement, the other Loan Documents and
any such other documents, and (d) to pay, indemnify, and hold each Lender and
the Administrative Agent and their respective officers, directors, employees,
affiliates, agents, advisors and controlling persons (each, an “Indemnitee”) harmless
from and against any and all other liabilities, obligations, losses, damages,
penalties, judgments, suits or actions or other legal proceedings (whether
brought by a third party or the Borrower or other Loan Party), costs, expenses
or disbursements of any kind or nature whatsoever arising out of the execution,
delivery, enforcement, performance and administration of this Agreement, the
other Loan Documents and any such other documents, including any of the
foregoing relating to the use of proceeds of the Loans or the violation of,
noncompliance with or liability under, any Environmental Law applicable to the
operations of the Borrower or any Subsidiary or any of the Properties, any
Environmental Claims, and the reasonable and documented fees and expenses of
legal counsel in connection with claims, actions or proceedings by any
Indemnitee against any Loan Party under any Loan Document (all the foregoing in
this clause (d), collectively, the “Indemnified
Liabilities”); provided, that the
Borrower shall have no obligation hereunder to any Indemnitee with respect to
Indemnified Liabilities to the extent such Indemnified Liabilities are found by
a final and nonappealable decision of a court of competent jurisdiction to have
(x) resulted from the gross negligence or willful misconduct of such Indemnitee
or any of its affiliates or their respective officers, directors or employees or
(y) result from a claim brought by the Borrower or any other Loan Party against
an Indemnitee for breach in bad faith of such Indemnitee’s obligations under
this Agreement or any other Loan Document.  Without limiting the foregoing,
and to the extent permitted by applicable law, the Borrower agrees not to assert
and to cause its Subsidiaries not to assert, and hereby waives and agrees to
cause its Subsidiaries to waive, all rights for contribution or any other rights
of recovery with respect to all claims, demands, penalties, fines, liabilities,
settlements, damages, costs and expenses of whatever kind or nature, under or
related to Environmental Laws, that any of them might have by statute or
otherwise against any Indemnitee.  All amounts due under this Section 10.5
shall be payable not later than 10 days after written demand therefor. 
Statements payable by the Borrower pursuant to this Section 10.5 shall be
submitted to Chief Financial Officer (Telephone No. (904) 680-6600)
(Telecopy No. (904) 880-0350), at the address of the Borrower set forth in
Section 10.2, or to such other Person or address as may be hereafter designated
by the Borrower in a written notice to the Administrative Agent.  The
agreements in this Section 10.5 shall survive the termination of this Agreement
and the repayment of the Loans and all other amounts payable
hereunder.

    
      
         

      

      
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    10.6. 
       Successors and Assigns;
Participations and Assignments. 
(a)  The provisions of this Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns
permitted hereby (including any affiliate of the Issuing Lender that issues any
Letter of Credit), except that (i) the Borrower may not assign or otherwise
transfer any of its rights or obligations hereunder without the prior written
consent of each Lender (and any attempted assignment or transfer by the Borrower
without such consent shall be null and void) and (ii) no Lender may assign or
otherwise transfer its rights or obligations hereunder except in accordance with
this Section.

     

    (b)           (i)  Subject
to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to
one or more assignees (each, an “Assignee”) all or a
portion of its rights and obligations under this Agreement (including all or a
portion of its Commitments and the Loans at the time owing to it) with the prior
written consent of:

     

    (A)           the
Borrower (such consent not to be unreasonably withheld); provided, that no
consent of the Borrower shall be required for an assignment to a Lender, an
affiliate of a Lender, an Approved Fund (as defined below) or, if an Event of
Default under Section 8.1(a) or (f) has occurred and is continuing, any other
Person;

     

    (B)           the
Administrative Agent; provided, that no
consent of the Administrative Agent shall be required for an assignment of all
or any portion of a Term Loan  to a Lender, an affiliate of a Lender
or an Approved Fund; and

     

    (C)           the
Issuing Lender, only if such assignment is of a Revolving Loan, and provided
that the Aggregate Exposure Percentage of the Issuing Lender is greater than
10%.

     

    (ii)           Assignments
shall be subject to the following additional conditions:

     

    (A)           except
in the case of an assignment to a Lender, an affiliate of a Lender or an
Approved Fund or an assignment of the entire remaining amount of the assigning
Lender’s Commitments or Loans under any Facility, the amount of the Commitments
or Loans of the assigning Lender subject to each such assignment (determined as
of the date the Assignment and Assumption with respect to such assignment is
delivered to the Administrative Agent) shall not be less than $1,000,000 (in the
case of Term Loans) and $2,500,000 (in the case of Revolving Loans) unless each
of the Borrower and the Administrative Agent otherwise consent; provided, that (1) no
such consent of the Borrower shall be required if an Event of Default has
occurred and is continuing and (2) such amounts shall be aggregated in respect
of each Lender and its affiliates or Approved Funds, if any;

    
      
         

      

      
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    (B)           (1)
the parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation
fee of $3,500 and (2) the assigning Lender shall have paid in full any amounts
owing by it to the Administrative Agent;

     

    (C)           the
Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent
an administrative questionnaire in which the Assignee designates one or more
credit contacts to whom all syndicate-level information (which may contain
material non-public information about the Borrower and its Affiliates and their
related parties or their respective securities) will be made available and who
may receive such information in accordance with the Assignee’s compliance
procedures and applicable laws, including Federal and state securities laws;
and

     

    (D)           without
the prior written consent of the Administrative Agent and the Borrower, no
assignments shall be made to a prospective Assignee that bears a relationship to
the Borrower described in Section 108(e)(4) of the Code.

     

    For the
purposes of this Section 10.6, “Approved Fund” means
any Person (other than a natural person) that is engaged in making, purchasing,
holding or investing in bank loans and similar extensions of credit in the
ordinary course of its business and that is administered or managed by (a) a
Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an
entity that administers or manages a Lender.

     

    (iii)           Subject
to acceptance and recording thereof pursuant to paragraph (b)(iv) below,
from and after the effective date specified in each Assignment and Assumption
the Assignee thereunder shall be a party hereto and, to the extent of the
interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender
thereunder shall, to the extent of the interest assigned by such Assignment and
Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a
party hereto but shall continue to be entitled to the benefits of
Sections 2.18, 2.19, 2.20 and 10.5).  Any assignment or transfer by a
Lender of rights or obligations under this Agreement that does not comply with
this Section 10.6 shall be treated for purposes of this Agreement as a sale by
such Lender of a participation in such rights and obligations in accordance with
paragraph (c) of this Section.

     

    (iv)           The
Administrative Agent, acting for this purpose as an agent of the Borrower, shall
maintain at one of its offices a copy of each Assignment and Assumption
delivered to it and a register for the recordation of the names and addresses of
the Lenders, and the Commitments of, and principal amount of the Loans and L/C
Obligations owing to, each Lender pursuant to the terms hereof from time to time
(the “Register”).  The
entries in the Register shall be conclusive, and the Borrower, the
Administrative Agent, the Issuing Lender and the Lenders may treat each Person
whose name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement, notwithstanding notice to the
contrary.  The Register shall be available for inspection by the Borrower
and any Lender, at any reasonable time and from time to time upon reasonable
prior notice.

    
      
         

      

      
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    (v)           Upon
its receipt of a duly completed Assignment and Assumption executed by an
assigning Lender and an Assignee, the Assignee’s completed administrative
questionnaire (unless the Assignee shall already be a Lender hereunder), the
processing and recordation fee referred to in paragraph (b) of this Section
and any written consent to such assignment required by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Assumption
and record the information contained therein in the Register.  No
assignment shall be effective for purposes of this Agreement unless it has been
recorded in the Register as provided in this paragraph.

     

    (c)           (i)
Any Lender may, without the consent of the Borrower or the Administrative Agent,
sell participations to one or more banks or other entities (a “Participant”) in all
or a portion of such Lender’s rights and obligations under this Agreement
(including all or a portion of its Commitments and the Loans owing to it); provided, that
(A) such Lender’s obligations under this Agreement shall remain unchanged,
(B) such Lender shall remain solely responsible to the other parties hereto
for the performance of such obligations, (C) the Borrower, the
Administrative Agent, the Issuing Lender and the other Lenders shall continue to
deal solely and directly with such Lender in connection with such Lender’s
rights and obligations under this Agreement and (D) without the prior written
consent of the Administrative Agent and the Borrower, no participation shall be
sold to a prospective Participant that bears a relationship to the Borrower
described in Section 108(e)(4) of the Code.  Any agreement pursuant to
which a Lender sells such a participation shall provide that such Lender shall
retain the sole right to enforce this Agreement and to approve any amendment,
modification or waiver of any provision of this Agreement; provided, that such
agreement may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver that (1) requires
the consent of each Lender directly affected thereby pursuant to the proviso to
the second sentence of Section 10.1 and (2) directly affects such
Participant.  Subject to paragraph (c)(ii) of this Section, the Borrower
agrees that each Participant shall be entitled to the benefits of, and subject
to the limitations of, Sections 2.18, 2.19 and 2.20 to the same extent as if it
were a Lender and had acquired its interest by assignment pursuant to paragraph
(b) of this Section.  To the extent permitted by law, each Participant also
shall be entitled to the benefits of Section 10.7(b) as though it were a
Lender; provided, such
Participant shall be subject to Section 10.7(a) as though it were a
Lender.

     

    (ii)           A
Participant shall not be entitled to receive any greater payment under Section
2.18 or 2.19 than the applicable Lender would have been entitled to receive with
respect to the participation sold to such Participant, unless the sale of the
participation to such Participant is made with the Borrower’s prior written
consent.  No Participant shall be entitled to the benefits of
Section 2.19 unless the Borrower and the Administrative Agent are notified
of the payments under the Loan Documents that are associated with the
Participant and such Participant complies with Sections 2.19(d), (e) and (f) as
if it were a Lender.

     

    (d)           Any
Lender may at any time pledge or assign a security interest in all or any
portion of its rights under this Agreement to secure obligations of such Lender,
including any pledge or assignment to secure obligations to a Federal Reserve
Bank, and this Section shall not apply to any such pledge or assignment of a
security interest; provided, that no
such pledge or assignment of a security interest shall release a Lender from any
of its obligations hereunder or substitute any such pledgee or Assignee for such
Lender as a party hereto.

    
      
         

      

      
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    (e)         
  The Borrower, upon receipt of written notice from the relevant
Lender, agrees to issue Notes to any Lender requiring Notes to facilitate
transactions of the type described in paragraph (d) above; provided, that a
transfer of any Note may be effected only by the surrender of the original Note
and either re-issuance by the Borrower of the original Note to a new holder or
the issuance by the Borrower of a new Note to a new holder.

     

    (f)       
     Notwithstanding the foregoing, any Conduit Lender
may assign any or all of the Loans it may have funded hereunder to its
designating Lender without the consent of the Borrower or the Administrative
Agent and without regard to the limitations set forth in Section 10.6(b). 
The Borrower, each Lender and the Administrative Agent hereby confirms that it
will not institute against a Conduit Lender or join any other Person in
instituting against a Conduit Lender any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceeding under any state bankruptcy or
similar law, for one year and one day after the payment in full of the latest
maturing commercial paper note issued by such Conduit Lender; provided, however, that each
Lender designating any Conduit Lender hereby agrees to indemnify, save and hold
harmless each other party hereto for any loss, cost, damage or expense arising
out of its inability to institute such a proceeding against such Conduit Lender
during such period of forbearance.

     

    10.7. 
       Adjustments;
Set-off. 
(a)  Except to the extent that this Agreement or a court order
expressly provides for payments to be allocated to a particular Lender or to the
Lenders under a particular Facility, if any Lender (a “Benefitted Lender”)
shall receive any payment of all or part of the Obligations owing to it (other
than in connection with an assignment made pursuant to Section 10.6), or receive
any Collateral in respect thereof (whether voluntarily or involuntarily, by
set-off, pursuant to events or proceedings of the nature referred to in Section
8.1(f), or otherwise), in a greater proportion than any such payment to or
Collateral received by any other Lender, if any, in respect of the Obligations
owing to such other Lender, such Benefitted Lender shall purchase for cash from
the other Lenders a participating interest in such portion of the Obligations
owing to each such other Lender, or shall provide such other Lenders with the
benefits of any such Collateral, as shall be necessary to cause such Benefitted
Lender to share the excess payment or benefits of such Collateral ratably with
each of the Lenders; provided, however, that if all
or any portion of such excess payment or benefits is thereafter recovered from
such Benefitted Lender, such purchase shall be rescinded, and the purchase price
and benefits returned, to the extent of such recovery, but without
interest.

     

    (b)           
In addition to any rights and remedies of the Lenders provided by law, each
Lender shall have the right, without notice to the Borrower, any such notice
being expressly waived by the Borrower to the extent permitted by applicable
law, upon any Obligations becoming due and payable by the Borrower (whether at
the stated maturity, by acceleration or otherwise), to apply to the payment of
such Obligations, by setoff or otherwise, any and all deposits (general or
special, time or demand, provisional or final), in any currency, and any other
credits, indebtedness or claims, in any currency, in each case whether direct or
indirect, absolute or contingent, matured or unmatured, at any time held or
owing by such Lender, any affiliate thereof or any of their respective branches
or agencies to or for the credit or the account of the Borrower.  Each
Lender agrees promptly to notify the Borrower and the Administrative Agent after
any such application made by such Lender; provided, that the
failure to give such notice shall not affect the validity of such
application.

     

    10.8. 
       Counterparts. 
This Agreement may be executed by one or more of the parties to this Agreement
on any number of separate counterparts, and all of said counterparts taken
together shall be deemed to constitute one and the same instrument. 
Delivery of an executed signature page of this Agreement by email or facsimile
transmission shall be effective as delivery of a manually executed counterpart
hereof.  A set of the copies of this Agreement signed by all the parties
shall be lodged with the Borrower and the Administrative Agent.

    
      
         

      

      
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    10.9. 
       Severability. 
Any provision of this Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

     

    10.10. 
     Integration. 
This Agreement and the other Loan Documents represent the entire agreement of
the Borrower, the Administrative Agent and the Lenders with respect to the
subject matter hereof and thereof, and there are no promises, undertakings,
representations or warranties by the Administrative Agent or any Lender relative
to the subject matter hereof not expressly set forth or referred to herein or in
the other Loan Documents.

     

    10.11. 
     GOVERNING
LAW. 
THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF NEW YORK.

     

    10.12. 
     Submission To Jurisdiction;
Waivers. 
The Borrower hereby irrevocably and unconditionally:

     

    (a)           submits
for itself and its property in any legal action or proceeding relating to this
Agreement and the other Loan Documents to which it is a party, or for
recognition and enforcement of any judgment in respect thereof, to the
non-exclusive general jurisdiction of the courts of the State of New York, the
courts of the United States for the Southern District of New York, and
appellate courts from any thereof;

     

    (b)           consents
that any such action or proceeding may be brought in such courts and waives any
objection that it may now or hereafter have to the venue of any such action or
proceeding in any such court or that such action or proceeding was brought in an
inconvenient court and agrees not to plead or claim the same;

     

    (c)           agrees
that service of process in any such action or proceeding may be effected by
mailing a copy thereof by registered or certified mail (or any substantially
similar form of mail), postage prepaid, to the Borrower, as the case may be at
its address set forth in Section 10.2 or at such other address of which the
Administrative Agent shall have been notified pursuant thereto;

     

    (d)           agrees
that nothing herein shall affect the right to effect service of process in any
other manner permitted by law or shall limit the right to sue in any other
jurisdiction; and

     

    (e)           waives,
to the maximum extent not prohibited by law, any right it may have to claim or
recover in any legal action or proceeding referred to in this Section any
special, exemplary, punitive or consequential damages.

     

    10.13. 
    Acknowledgements. 
The Borrower hereby acknowledges that:

     

    (a)           
it has been advised by counsel in the negotiation, execution and delivery of
this Agreement and the other Loan Documents;

     

    (b)           
neither the Administrative Agent nor any Lender has any fiduciary relationship
with or duty to the Borrower arising out of or in connection with this Agreement
or any of the other Loan Documents, and the relationship between the
Administrative Agent and Lenders, on one hand, the Borrower, on the other hand,
in connection herewith or therewith is solely that of debtor and creditor;
and

    
      
         

      

      
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    (c)           
no joint venture is created hereby or by the other Loan Documents or otherwise
exists by virtue of the transactions contemplated hereby among the Lenders or
among the Borrower and the Lenders.

     

    10.14. 
     Releases of Guarantees and
Liens. 
(a)  Notwithstanding anything to the contrary contained herein or in
any other Loan Document, the Administrative Agent is hereby irrevocably
authorized by each Lender (without requirement of notice to or consent of any
Lender except as expressly required by Section 10.1) to take any action
requested by the Borrower having the effect of releasing any Collateral or
Guarantee Obligations (i) to the extent necessary to permit consummation of any
transaction not prohibited by any Loan Document or that has been consented to in
accordance with Section 10.1 or (ii) under the circumstances described in
paragraph (b) below.

     

    (b)           At
such time as the Loans, the Reimbursement Obligations and the other obligations
under the Loan Documents (other than obligations under or in respect of
Specified Cash Management Agreements) shall have been paid in full, the
Commitments have been terminated and no Letters of Credit shall be outstanding,
the Collateral shall be released from the Liens created by the Security
Documents, and the Security Documents and all obligations (other than those
expressly stated to survive such termination) of the Administrative Agent and
each Loan Party under the Security Documents shall terminate, all without
delivery of any instrument or performance of any act by any Person.

     

    10.15. 
     Confidentiality. 
Each of the Administrative Agent and each Lender agrees to keep confidential all
non-public information provided to it by any Loan Party, the Administrative
Agent or any Lender pursuant to or in connection with this Agreement that is
designated by the provider thereof as confidential; provided, that
nothing herein shall prevent the Administrative Agent or any Lender from
disclosing any such information (a) to the Administrative Agent, any other
Lender or any affiliate thereof, (b) subject to an agreement to comply with the
provisions of this Section, to any actual or prospective Transferee or any
direct or indirect counterparty to any Swap Agreement (or any professional
advisor to such counterparty), (c) to its employees, directors, agents,
attorneys, accountants and other professional advisors or those of any of its
affiliates, provided that such Persons have been advised of the confidentiality
provisions hereof and are subject thereto, (d) upon the request or demand of any
Governmental Authority, (e) in response to any order of any court or other
Governmental Authority or as may otherwise be required pursuant to any
Requirement of Law, (f) if requested or required to do so in connection with any
litigation or similar proceeding, (g) that has been publicly disclosed, (h) to
the National Association of Insurance Commissioners or any similar organization
or any nationally recognized rating agency that requires access to information
about a Lender’s investment portfolio in connection with ratings issued with
respect to such Lender, (i) in connection with the exercise of any remedy
hereunder or under any other Loan Document, (j) if agreed by the Borrower in its
sole discretion, to any other Person or (k) to any regulatory or self-regulatory
agency having supervisory authority over any Lender in connection with an
examination of such Lender by such agency.

     

    Each
Lender acknowledges that information furnished to it pursuant to this Agreement
or the other Loan Documents may include material non-public information
concerning the Borrower and its Affiliates and their related parties or their
respective securities, and confirms that it has developed compliance procedures
regarding the use of material non-public information and that it will handle
such material non-public information in accordance with those procedures and
applicable law, including Federal and state securities laws.

    
      
         

      

      
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    All
information, including requests for waivers and amendments, furnished by the
Borrower or the Administrative Agent pursuant to, or in the course of
administering, this Agreement or the other Loan Documents will be
syndicate-level information, which may contain material non-public information
about the Borrower and its Affiliates and their related parties or their
respective securities.  Accordingly, each Lender represents to the Borrower
and the Administrative Agent that it has identified in its administrative
questionnaire a credit contact who may receive information that may contain
material non-public information in accordance with its compliance procedures and
applicable law, including Federal and state securities laws.

     

    10.16. 
       WAIVERS
OF JURY TRIAL. 
THE BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING
TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM
THEREIN.

     

    10.17. 
       USA Patriot
Act. 
Each Lender hereby notifies the Borrower that pursuant to the requirements of
the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “Patriot Act”), it is required to obtain, verify and record
information that identifies the Borrower, which information includes the name
and address of the Borrower and other information that will allow such Lender to
identify the Borrower in accordance with the Patriot Act.

    
      
         

      

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

     

    
      
        	
                WEB.COM
      GROUP, INC.

              
	 
      
	
                By: 

              	
                /s/ David L. Brown

              
	 
      	
                Name:  David
      L. Brown

              
	 
      	
                Title:
      Chief Executive Officer

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	 
      	
                ROYAL
      BANK OF CANADA, as Administrative Agent

              
	 
      	 
      
	 
      	
                By: 

              	
                /s/ Ann Hurley

              
	 
      	 
      	
                Name:  Ann
      Hurley

              
	 
      	 
      	
                Title:
      Manger, Agency

              
	 
      	 
      	 
      
	 
      	
                WELLS
      FARGO  BANK, NATIONAL 

                ASSOCIATION,
      as Syndication Agent and as a Lender

              
	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/ Charles N. Kauffman

              
	 
      	 
      	
                Name:  Charles
      N. Kauffman

              
	 
      	 
      	
                Title:
      Senior Vice President

              
	 
      	 
      	 
      
	 
      	
                ROYAL
      BANK OF CANADA, as a Lender

              
	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/ Mark Gronich

              
	 
      	 
      	
                Name:  Mark
      Gronich

              
	 
      	 
      	
                Title:
      Authorized Signatoary

              
	 
      	 
      	 
      
	 
      	
                BANK
      OF AMERICA, N.A., as a Lender

              
	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/ Ethan Grossman

              
	 
      	 
      	
                Name:  Ethan
      Grossman

              
	 
      	 
      	
                Title:
      Associate Vice President

              
	 
      	 
      	 
      
	 
      	
                SUNTRUST
      BANK, as a Lender

              
	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/ Robert Dilts

              
	 
      	 
      	
                Name:  Robert
      Dilts

              
	 
      	 
      	
                Title:
      First Vice President

              

      

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    Schedule
1.1A

    Commitments

    

    
      
        
          
            	
                    Lender

                  	 	
                    Term Commitment

                  	 	 	
                    Revolving Commitment

                  	 	 	
                    Total

                  	 
	 
      	 	 	 	 	 	 	 	 	 
	
                    Royal
      Bank of Canada

                  	 	$	25,900,000	 	 	$	4,100,000	 	 	$	30,000,000	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	
                    Wells
      Fargo Bank, National Association

                  	 	$	25,900,000	 	 	$	4,100,000	 	 	$	30,000,000	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	
                    Bank
      of America, N.A.

                  	 	$	25,900,000	 	 	$	4,100,000	 	 	$	30,000,000	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	
                    SunTrust
      Bank

                  	 	$	17,300,000	 	 	$	2,700,000	 	 	$	20,000,000	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	
                    Total

                  	 	$	95,000,000	 	 	$	15,000,000	 	 	$	110,000,000	 

          

        

      

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    Schedule
1.1B

    Existing
Letters of Credit

    

    Web.com Group,
Inc.:

    

    Letter of
Credit for $900,000 with Wachovia Bank, N.A. for the benefit of Flagler Real
Estate Development, for the property at 12808 Gran Bay Parkway West,
Jacksonville, FL 32258.  Expiration Date:  8/1/2013.

    

    Register.com:

    

    Register.com,
Inc. has a Letter of Credit from JP Morgan Chase for the benefit of PennBus
Realties, Inc. (T-398970, issued by March 23, 1999, as amended) in the amount of
$333,035.

    

    Register.com,
Inc. has a Letter of Credit from JP Morgan Chase for the benefit of Verisign,
Inc. (T-290023, issued June 23, 1999, as amended) in the amount of
$1,000,000.

    

    Register.com,
Inc. has three Letters of Credit from Wells Fargo Bank, N.A.:

    
      
        
          
            
              
                
                  	
                          Letter
      of Credit Number

                        	 	
                          Beneficiary

                        	 	
                          Amount

                        	 
	 
      	 	      	 	 	 
	
                          NZS646426

                        	 	
                          State
      of Arkansas

                        	 	$	50,000	 
	 
      	 	 
      	 	 	 	 
	
                          NZS646424

                        	 	
                          Utah
      Division of Consumer Protection

                        	 	$	50,000	 
	 
      	 	 
      	 	 	 	 
	
                          NZS650698

                        	 	
                          W.A.
      Drew Edmonson

                        	 	$	10,000	 

                

              

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Schedule
1.1C

    Sources
and Uses Table

    

    
      
        
          
            
              
                	
                        Sources:

                      	 	 	 
	
                        Term
      Loans

                      	 	$	95,000,000	 
	
                        Revolving
      Loans

                      	 	 	15,000,000	 
	
                        Seller
      Financing (1)

                      	 	 	5,000,000	 
	
                        Borrower
      Cash

                      	 	 	27,615,500	 
	 
      	 	 	 	 
	
                        Total
      Sources

                      	 	$	142,615,500	 
	 
      	 	 	 	 
	
                        Uses:

                      	 	 	 	 
	
                        Purchase
      of Target Stock

                      	 	 	135,000,000	 
	
                        Estimated
      Fees and Expenses (2)

                      	 	 	7,500,000	 
	
                        Cash
      Collateralization of Existing Letters of Credit

                      	 	 	115,500	 
	 
      	 	 	 	 
	
                        Total
      Uses

                      	 	$	142,615,500	 

              

            

          

        

      

    

    

    (1)       The
Seller Financing shall consist of a subordinated unsecured note in a principal
amount of $5,000,000, to be issued by the Borrower on the date of the
consummation of the Acquisition to Register.com GP (Cayman) Ltd. as the Seller
Representative under the Acquisition Agreement.

    

    (2)       It
being understood this is merely an estimate of fees and expenses, and as such
may vary from $7.5 million, and that as a result Total Uses and Total Sources
are merely an estimate as well.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
1.1D

    Excluded
Foreign Subsidiaries

    

    For so
long as either (a) the pledge of any of the Capital Stock or any other asset of
such Subsidiary as Collateral or (b) the guaranteeing by such Subsidiary of the
Obligations, would, in the good faith judgment of the Borrower, result in
adverse tax consequences to the Borrower or any of its Subsidiaries, the
following:

    

    
      	
              Name

            	 
      	
              Jurisdiction of
  Organization

            
	
              RCOM
      Spain Holding LLC

            	 
      	
              Delaware

            
	
              Register.com
      LP

            	 
      	
              Delaware

            
	
              Ranger
      Registration Madeira LLC

            	
                

            	
              Delaware

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Schedule
3.1

    Subsidiaries

    

    
      	
              Name

            	 
      	
              Jurisdiction of
  Organization

            
	
              Web.com
      Holding Company, Inc.

            	 
      	
              Delaware

            
	
              RCOM
      Holding Inc.

            	 
      	
              Delaware

            
	
              Ranger
      Holdco LLC

            	 
      	
              Delaware

            
	
              Register.com,
      Inc.

            	
                

            	
              Delaware

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    Schedule
4.1

    Liabilities
and Dispositions

    

    Register.com,
Inc. transferred its ownership interest in Afilias Limited to a third party or
an affiliate of the Seller on or prior to the Closing Date. Any associated
proceeds will not be retained by any Register Entity (as defined in the Purchase
Agreement) and may be distributed by way of distribution, dividend or otherwise
prior to the Closing Date.  As of the Closing Date, no Register Entity
shall own, of record or beneficially, any equity interest in Afilias
Limited.
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
4.15

    Subsidiaries

    

    
      
        
          
            
              
                	
                        Subsidiary Name

                      	 
      	
                        Jurisdiction of

                        Organization

                      	 
      	
                        Percentage of Each Class

                        of Capital Stock Owned by

                        Any Loan Party

                      
	
                        Web.com
      Holding Company, Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        1425
      N. Washington Street, LLC

                      	 
      	
                        Washington

                      	 
      	
                        100%

                      
	
                        CommuniTech
      Net, Inc.

                      	 
      	
                        Missouri

                      	 
      	
                        100%

                      
	
                        Eversites,
      LLC

                      	 
      	
                        Texas

                      	 
      	
                        100%

                      
	
                        Franchise
      Website Solutions, L.P.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        HostPro,
      Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        Interland
      Government Contracting, Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        MEI
      California, Inc.

                      	 
      	
                        California

                      	 
      	
                        100%

                      
	
                        Micron
      Electronics International, Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        Perfect
      Privacy, LLC

                      	 
      	
                        Connecticut

                      	 
      	
                        100%

                      
	
                        Siteblast,
      L.L.C.

                      	 
      	
                        Texas

                      	 
      	
                        100%

                      
	
                        Trellix
      Corporation

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        US
      WEB NETWORK, LLC

                      	 
      	
                        Texas

                      	 
      	
                        100%

                      
	
                        WSM
      Holdco, Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        Wazoo
      Web, Inc.

                      	 
      	
                        Georgia

                      	 
      	
                        100%

                      
	
                        Web
      Astro GP, Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        Web
      Astro LP, Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        Web.com
      (Cayman) GP Limited

                      	 
      	
                        Cayman
      Islands

                      	 
      	
                        100%

                      
	
                        WEB.COM
      CANADA, INC.

                      	 
      	
                        Canada

                      	 
      	
                        100%

                      
	
                        WebSource
      Holdco, Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        Register.com
      GP (Cayman) Ltd.

                      	 
      	
                        Cayman
      Islands

                      	 
      	
                        100%

                      
	
                        Register.com
      (Cayman) Limited Partnership

                      	 
      	
                        Cayman
      Islands

                      	 
      	
                        100%

                      
	
                        Register.com
      Investments Cooperatie, U.A.

                      	 
      	
                        Netherlands

                      	 
      	
                        100%

                      
	
                        Register
      Domain Spain, S.L.

                      	 
      	
                        Spain

                      	 
      	
                        100%

                      
	
                        RCOM
      Holding Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        Ranger
      Holdco LLC

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        Register.com,
      Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        RPI,
      Inc.

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        RCOM
      Canada Corp.

                      	 
      	
                        Canada

                      	 
      	
                        100%

                      
	
                        Register
      Investments ETVE, S.L.

                      	 
      	
                        Spain

                      	 
      	
                        100%

                      
	
                        RCOM
      Spain Holding LLC

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        Register.com,
      LP

                      	 
      	
                        Delaware

                      	 
      	
                        100%

                      
	
                        Ranger
      Registration (Madeira) LLC

                      	
                          

                      	
                        Delaware

                      	
                          

                      	
                        100%

                      

              

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Schedule
4.19

    UCC
Filing Jurisdictions

    

    
      
        
          	
                  Debtor

                	 
      	
                  Filing
      Office

                
	
                  Web.com
      Group, Inc.

                	 
      	
                  Delaware
      Secretary of State

                
	
                  Web.com
      Holding Company, Inc.

                	 
      	
                  Delaware
      Secretary of State

                
	
                  Rcom
      Holding Inc.

                	 
      	
                  Delaware
      Secretary of State

                
	
                  Register.com,
      Inc.

                	 
      	
                  Delaware
      Secretary of State

                
	
                  Ranger
      Holdco LLC

                	
                    

                	
                  Delaware
      Secretary of State

                

        

      

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      EXECUTION
VERSION
 

    

    Schedule
7.3(f)

    Existing
Liens

    

    The
Register Entities (as defined in the Purchase Agreement) previously received two
tax liens concerning underpayment of estimated tax penalty from New York State
(aggregate noticed amount is $80,000).  Register.com, Inc. has paid off
these liens and is waiting for confirmation from New York
State.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    

      EXHIBIT
A

       

      FORM
OF

      
        
          
            
              	
                       

                    	
                       

                    

            

          

        

      

      

      GUARANTEE
AND COLLATERAL AGREEMENT

      

      made
by

      WEB.COM
GROUP, INC.,

       

      and
certain of its Subsidiaries

       

      in favor
of

       

      ROYAL
BANK OF CANADA,

       

      as
Administrative Agent

       

      Dated as
of July [  ], 2010

      
        
          
            	
                     

                  	
                     

                  

          

        

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

      TABLE OF
CONTENTS

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                	 
      	 
      	 
      	
                                                                        Page

                                                                      
	 
      	 
      	 
      	 
      
	
                                                                        SECTION 1.

                                                                      	 
      	
                                                                        DEFINED
      TERMS

                                                                      	
                                                                        1

                                                                      
	 
      	 
      	
                                                                        Definitions

                                                                      	
                                                                        1

                                                                      
	 
      	 
      	
                                                                        Other
      Definitional Provisions

                                                                      	
                                                                        5

                                                                      
	 
      	 
      	 
      	 
      
	
                                                                        SECTION
      2.

                                                                      	 
      	
                                                                        GUARANTEE

                                                                      	
                                                                        5

                                                                      
	 
      	 
      	
                                                                        Guarantee

                                                                      	
                                                                        5

                                                                      
	 
      	 
      	
                                                                        Right
      of Contribution

                                                                      	
                                                                        6

                                                                      
	 
      	 
      	
                                                                        No
      Subrogation

                                                                      	
                                                                        6

                                                                      
	 
      	 
      	
                                                                        Amendments,
      etc. with respect to the Borrower Obligations

                                                                      	
                                                                        6

                                                                      
	 
      	 
      	
                                                                        Guarantee
      Absolute and Unconditional

                                                                      	
                                                                        7

                                                                      
	 
      	 
      	
                                                                        Reinstatement

                                                                      	
                                                                        7

                                                                      
	 
      	 
      	
                                                                        Payments

                                                                      	
                                                                        7

                                                                      
	 
      	 
      	 
      	 
      
	
                                                                        SECTION
      3.

                                                                      	 
      	
                                                                        GRANT
      OF SECURITY INTEREST

                                                                      	
                                                                        7

                                                                      
	 
      	 
      	 
      	 
      
	
                                                                        SECTION
      4.

                                                                      	 
      	
                                                                        REPRESENTATIONS
      AND WARRANTIES

                                                                      	
                                                                        8

                                                                      
	 
      	 
      	
                                                                        Title;
      No Other Liens

                                                                      	
                                                                        9

                                                                      
	 
      	 
      	
                                                                        Perfected
      First Priority Liens

                                                                      	
                                                                        9

                                                                      
	 
      	 
      	
                                                                        Legal
      Name; Jurisdiction of Organization; Chief Executive Office

                                                                      	
                                                                        9

                                                                      
	 
      	 
      	
                                                                        Inventory
      and Equipment; Books and Records

                                                                      	
                                                                        10

                                                                      
	 
      	 
      	
                                                                        Investment
      Property

                                                                      	
                                                                        10

                                                                      
	 
      	 
      	
                                                                        Receivables

                                                                      	
                                                                        10

                                                                      
	 
      	 
      	
                                                                        Intellectual
      Property

                                                                      	
                                                                        10

                                                                      
	 
      	 
      	
                                                                        Commercial
      Tort Claims

                                                                      	
                                                                        11

                                                                      
	 
      	 
      	
                                                                        Accounts

                                                                      	
                                                                        11

                                                                      
	 
      	 
      	 
      	 
      
	
                                                                        SECTION
      5.

                                                                      	 
      	
                                                                        COVENANTS

                                                                      	
                                                                        11

                                                                      
	 
      	 
      	
                                                                        Delivery
      of Instruments, Certificated Securities and Chattel Paper

                                                                      	
                                                                        11

                                                                      
	 
      	 
      	
                                                                        Maintenance
      of Insurance

                                                                      	
                                                                        12

                                                                      
	 
      	 
      	
                                                                        Maintenance
      of Perfected Security Interest; Further Documentation

                                                                      	
                                                                        12

                                                                      
	 
      	 
      	
                                                                        Account
      Control Agreements

                                                                      	
                                                                        12

                                                                      
	 
      	 
      	
                                                                        Letters
      of Credit

                                                                      	
                                                                        13

                                                                      
	 
      	 
      	
                                                                        Changes
      in Name, etc

                                                                      	
                                                                        13

                                                                      
	 
      	 
      	
                                                                        Notices

                                                                      	
                                                                        13

                                                                      
	 
      	 
      	
                                                                        Investment
      Property

                                                                      	
                                                                        14

                                                                      
	 
      	 
      	
                                                                        Receivables

                                                                      	
                                                                        14

                                                                      
	 
      	 
      	
                                                                        Intellectual
      Property

                                                                      	
                                                                        14

                                                                      
	 
      	 
      	
                                                                        Commercial
      Tort Claims

                                                                      	
                                                                        16

                                                                      
	 
      	 
      	 
      	 
      
	
                                                                        SECTION
      6.

                                                                      	 
      	
                                                                        REMEDIAL
      PROVISIONS

                                                                      	
                                                                        16

                                                                      
	 
      	 
      	
                                                                        Certain
      Matters Relating to Receivables

                                                                      	
                                                                        16

                                                                      
	 
      	 
      	
                                                                        Communications
      with Obligors; Grantors Remain Liable

                                                                      	
                                                                        16

                                                                      
	 
      	 
      	
                                                                        Pledged
      Stock

                                                                      	
                                                                        17

                                                                      
	 
      	 
      	
                                                                        Proceeds
      to be Turned Over To Administrative Agent

                                                                      	
                                                                        18

                                                                      
	 
      	 
      	
                                                                        Code
      and Other Remedies

                                                                      	
                                                                        18

                                                                      
	 
      	 
      	
                                                                        Registration
      Rights

                                                                      	
                                                                        19

                                                                      

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

       

      
        
          
          

        

        
          i

          
            

          

        

        
          
          

        

      

       

      
        
          
            
              
                	 
      	 
      	
                        Subordination

                      	
                        19

                      
	 
      	 
      	
                        Deficiency

                      	
                        19

                      
	 
      	 
      	 
      	 
      
	
                        SECTION
      7.

                      	 
      	
                        THE
      ADMINISTRATIVE AGENT

                      	
                        19

                      
	 
      	 
      	
                        Administrative
      Agent’s Appointment as Attorney-in-Fact, etc

                      	
                        19

                      
	 
      	 
      	
                        Duty
      of Administrative Agent

                      	
                        21

                      
	 
      	 
      	
                        Execution
      of Financing Statements

                      	
                        21

                      
	 
      	 
      	
                        Authority
      of Administrative Agent

                      	
                        21

                      
	 
      	 
      	 
      	 
      
	
                        SECTION
      8.

                      	 
      	
                        MISCELLANEOUS

                      	
                        21

                      
	 
      	 
      	
                        Amendments
      in Writing

                      	
                        21

                      
	 
      	 
      	
                        Notices

                      	
                        21

                      
	 
      	 
      	
                        No
      Waiver by Course of Conduct; Cumulative Remedies

                      	
                        22

                      
	 
      	 
      	
                        Enforcement
      Expenses; Indemnification

                      	
                        22

                      
	 
      	 
      	
                        Successors
      and Assigns

                      	
                        22

                      
	 
      	 
      	
                        Set-Off

                      	
                        22

                      
	 
      	 
      	
                        Counterparts

                      	
                        23

                      
	 
      	 
      	
                        Severability

                      	
                        23

                      
	 
      	 
      	
                        Section
      Headings

                      	
                        23

                      
	 
      	 
      	
                        Integration

                      	
                        23

                      
	
                            8.11

                      	 
      	
                        GOVERNING
      LAW

                      	
                        23

                      
	
                            8.12

                      	 
      	
                        Submission
      To Jurisdiction; Waivers

                      	
                        23

                      
	 
      	 
      	
                        Acknowledgements

                      	
                        24

                      
	 
      	 
      	
                        Additional
      Grantors

                      	
                        24

                      
	 
      	 
      	
                        Releases

                      	
                        24

                      

              

            

          
 

      

      
        
          	
                  SCHEDULES

                	 
      
	 
      	 
      
	
                  Schedule
      1

                	
                  Notice
      Addresses

                
	
                  Schedule
      2

                	
                  Investment
      Property

                
	
                  Schedule
      3

                	
                  Perfection
      Matters

                
	
                  Schedule
      4

                	
                  Jurisdictions
      of Organization and Chief Executive Offices

                
	
                  Schedule
      5

                	
                  Inventory
      and Equipment Locations

                
	
                  Schedule
      6

                	
                  Intellectual
      Property

                
	
                  Schedule
      7

                	
                  Commercial
      Tort Claims

                
	
                  Schedule
      8

                	
                  Accounts

                

        

      

       

      
        
           

        

        
          ii

          
            

          

        

        
           

        

      

       

      GUARANTEE
AND COLLATERAL AGREEMENT

       

      GUARANTEE
AND COLLATERAL AGREEMENT, dated as of July [  ], 2010, made by each of
the signatories hereto (together with any other entity that may become a party
hereto as provided herein, the “Grantors”), in favor
of Royal Bank of Canada, as Administrative Agent (in such capacity, the “Administrative
Agent”) for the banks and other financial institutions or entities (the
“Lenders”) from
time to time parties to the Credit Agreement, dated as of July [  ],
2010 (as amended, supplemented or otherwise modified from time to time, the
“Credit
Agreement”), among Web.com Group, Inc. (the “Borrower”), the
Lenders, Wells Fargo Bank, National Association, as Syndication Agent, and the
Administrative Agent.

       

      WITNESSETH:

       

      WHEREAS,
pursuant to the Credit Agreement, the Lenders have severally agreed to make
extensions of credit to the Borrower upon the terms and subject to the
conditions set forth therein;

       

      WHEREAS,
the Borrower is a member of an affiliated group of companies that includes each
other Grantor;

       

      WHEREAS,
the proceeds of the extensions of credit under the Credit Agreement will be used
in part to enable the Borrower to make valuable transfers to one or more of the
other Grantors in connection with the operation of their respective
businesses;

       

      WHEREAS,
the Borrower and the other Grantors are engaged in related businesses, and each
Grantor will derive substantial direct and indirect benefit from the making of
the extensions of credit under the Credit Agreement; and

       

      WHEREAS,
it is a condition precedent to the obligation of the Lenders to make their
respective extensions of credit to the Borrower under the Credit Agreement that
the Grantors shall have executed and delivered this Agreement to the
Administrative Agent for the ratable benefit of the Secured
Parties;

       

      NOW,
THEREFORE, in consideration of the premises and to induce the Administrative
Agent and the Lenders to enter into the Credit Agreement and to induce the
Lenders to make their respective extensions of credit to the Borrower
thereunder, each Grantor hereby agrees with the Administrative Agent, for the
ratable benefit of the Secured Parties, as follows:

       

      DEFINED
TERMS

       

      Definitions. 
■  Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement, and the following
terms are used herein as defined in the New York UCC:  Accounts,
Certificated Security, Chattel Paper, Commercial Tort Claims, Documents,
Equipment, General Intangibles, Instruments, Inventory, Letter-of-Credit Rights
and Supporting Obligations.

       

      The
following terms shall have the following meanings:

       

      “Agreement”:  this
Guarantee and Collateral Agreement, as the same may be amended, supplemented or
otherwise modified from time to time.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      “Bankruptcy Code”:
Title 11 of the United States Code entitled “Bankruptcy”.

       

      “Borrower
Obligations”: Obligations as defined in the Credit
Agreement.

       

      “Collateral”:  as
defined in Section 3.

       

      “Collateral
Account”:  any collateral account established by the
Administrative Agent as provided in Section 6.1 or 6.4.

       

      “Copyrights”:  (i)
all copyrights arising under the laws of the United States, any other country or
any political subdivision thereof, whether registered or unregistered and
whether published or unpublished (including, without limitation, those listed in
Schedule 6),
all registrations and recordings thereof, and all applications in connection
therewith, including, without limitation, all registrations, recordings and
applications in the United States Copyright Office, and (ii) the right to obtain
all renewals thereof.

       

      “Copyright
Licenses”:  any written agreement naming any Grantor as
licensor or licensee (including, without limitation, those listed in Schedule
6), granting any right under any Copyright, including, without limitation, the
grant of rights to manufacture, distribute, exploit and sell materials derived
from any Copyright.

       

      “Deposit
Account”:  as defined in the Uniform Commercial Code of any
applicable jurisdiction and, in any event, including, without limitation, any
demand, time, savings, passbook or like account maintained with a depositary
institution.

       

      “Excluded Collateral”:
shall mean

       

      (i)   all
leasehold interests of any Grantor;

       

      (ii)  motor
vehicles and other assets subject to certificates of title;

       

      (iii) any
asset only to the extent and for so long as the terms of any Requirement of Law
of a Governmental Authority applicable thereto, validly prohibit the creation by
a Grantor of a security interest in such asset in favor of the Administrative
Agent (after giving effect to the New York UCC of any applicable jurisdiction or
any other applicable law (including the Bankruptcy Code) or principles of
equity);

       

      (iv)  margin
stock (within the meaning of Regulation U issued by the Board of Governors of
the Federal Reserve System of the United States (“FRB”)) to the extent the
creation of a security interest therein in favor of the Administrative Agent or
the Collateral Agent will result in a violation of Regulation U issued by the
FRB;

       

      (v)  any United States
intent-to-use trademark application to the extent and for so long as creation by
any Grantor of a security interest therein would result in the forfeiture by
such Grantor of its rights therein, unless and until acceptable evidence
of use of the Trademark has been filed with and accepted by the United States
Patent and Trademark Office pursuant to Section 1(c) or Section 1(d) of the
Lanham Act (15 U.S.C. 1051, et seq.), to the extent that granting a Lien in such
Trademark application prior to such filing would adversely affect the
enforceability or validity of such Trademark application;

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

      (vi)  any
Collateral with respect to which the Administrative Agent shall determine in its
sole discretion that the cost of obtaining a security interest therein are
excessive in relation to the value of the security to be afforded
by;

       

      (vii)
Equipment owned by any Grantor on the date hereof or hereafter acquired and any
proceeds thereof that is subject to a Lien securing a purchase money obligation
or Capital Lease  Obligation permitted by the Credit Agreement if the
contract or other agreement in which such Lien is granted (or the documentation
providing for such purchase money obligation or Capital Lease Obligation)
validly prohibits the creation of any other Lien on such Equipment and proceeds;
provided that
notwithstanding anything to the contrary, the foregoing exclusion shall not
apply (x) if any such prohibition has been waived or terminated or such other
Person otherwise consented to the creation hereunder of a security interest in
such Equipment, or (y) if any such prohibition is unenforceable under, or would
be rendered ineffective pursuant to, Sections 9-406, 9-407 or 9-408 of the New
York UCC as applicable and as then in effect in any relevant jurisdiction, or
any other applicable law (including the Bankruptcy Code) or principles of
equity; provided,
further, that notwithstanding anything to the contrary, immediately upon
the ineffectiveness, lapse or termination of any such provision, such Grantor
shall be deemed to have granted a security interest in, all its right, title and
interests in and to such equipment as if such provision had never been in
effect; and

       

      (viii)
Capital Stock representing more than 66% of the total outstanding Foreign
Subsidiary Voting Stock of any Excluded Foreign Subsidiary.

       

      “Foreign Subsidiary Voting
Stock”:  the voting Capital Stock of any Excluded Foreign
Subsidiary.

       

      “Guarantor
Obligations”:  with respect to any Guarantor, all obligations
and liabilities of such Guarantor which may arise under or in connection with
this Agreement (including, without limitation, Section 2) or any other Loan
Document, any Specified Swap Agreement or any Specified Cash Management
Agreement to which such Guarantor is a party, in each case whether on account of
guarantee obligations, reimbursement obligations, fees, indemnities, costs,
expenses or otherwise (including, without limitation, all fees and disbursements
of counsel to the Administrative Agent or to the Lenders that are required to be
paid by such Guarantor pursuant to the terms of this Agreement or any other Loan
Document).

       

      “Guarantors”:  the
collective reference to each Grantor other than the Borrower.

       

      “Intellectual Property
Licenses”:  the collective reference to all Copyright Licenses,
Patent Licenses and Trademark Licenses.

       

      “Intercompany
Note”:  any promissory note evidencing loans made by any
Grantor or any of its Subsidiaries.

       

      “Investment
Property”:  the collective reference to (i) all “investment
property” as such term is defined in Section 9-102(a)(49) of the New York UCC
(other than any Foreign Subsidiary Voting Stock constituting Excluded
Collateral) and (ii) whether or not constituting “investment property” as so
defined, all Pledged Notes and all Pledged Stock.

       

      “Issuers”:  the
collective reference to each issuer of any Investment Property.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

       

      “New York
UCC”:  the Uniform Commercial Code as from time to time in
effect in the State of New York.

       

      “Obligations”:  (i)
in the case of the Borrower, the Borrower Obligations, and (ii) in the case of
each Guarantor, its Guarantor Obligations.

       

      “Patents”:  (i)
all letters patent of the United States, any other country or any political
subdivision thereof, all reissues and extensions thereof and all goodwill
associated therewith, including, without limitation, any of the foregoing
referred to in Schedule 6, (ii) all
applications for letters patent of the United States or any other country and
all divisions, continuations and continuations-in-part thereof, including,
without limitation, any of the foregoing referred to in Schedule 6, and (iii)
all rights to obtain any reissues or extensions of the foregoing.

       

      “Patent
License”:  all written agreements providing for the grant by or
to any Grantor of any right to manufacture, use or sell any invention covered in
whole or in part by a Patent, including, without limitation, any of the
foregoing referred to in Schedule
6.

       

      “Pledged
Notes”:  all promissory notes listed on Schedule 2, all
Intercompany Notes at any time issued to any Grantor and all other promissory
notes issued to or held by any Grantor (other than promissory notes issued in
connection with extensions of trade credit by any Grantor in the ordinary course
of business).

       

      “Pledged
Stock”:  the shares of Capital Stock listed on Schedule 2, together
with any other shares, stock certificates, options, interests or rights of any
nature whatsoever in respect of the Capital Stock of any Person that may be
issued or granted to, or held by, any Grantor while this Agreement is in effect;
provided that
in no event shall more than 66% of the total outstanding Foreign Subsidiary
Voting Stock of any Excluded Foreign Subsidiary be required to be pledged
hereunder.

       

      “Proceeds”:  all
“proceeds” as such term is defined in Section 9-102(a)(64) of the New York UCC
and, in any event, shall include, without limitation, all dividends or other
income from the Investment Property, collections thereon or distributions or
payments with respect thereto.

       

      “Receivable”:  any
right to payment for goods sold or leased or for services rendered, whether or
not such right is evidenced by an Instrument or Chattel Paper and whether or not
it has been earned by performance (including, without limitation, any
Account).

       

      “Secured
Parties”:  the collective reference to the Administrative
Agent, the Lenders and any affiliate of any Lender to which Borrower Obligations
or Guarantor Obligations, as applicable, are owed.

       

      “Securities
Act”:  the Securities Act of 1933, as amended.

       

      “Trademarks”:  (i)
all trademarks, trade names, corporate names, company names, business names,
fictitious business names, trade styles, service marks, domain names, logos and
other source or business identifiers, and all goodwill associated therewith, now
existing or hereafter adopted or acquired, all registrations and recordings
thereof, and all applications in connection therewith, whether in the United
States Patent and Trademark Office or in any similar office or agency of the
United States, any State thereof or any other country or any political
subdivision thereof, or otherwise, and all common-law rights related thereto,
including, without limitation, any of the foregoing referred to in Schedule 6, and (ii)
the right to obtain all renewals thereof.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      “Trademark
License”:  any written agreement providing for the grant by or
to any Grantor of any right to use any Trademark, including, without limitation,
any of the foregoing referred to in Schedule
6.

       

      “Vehicles”:  all
cars, trucks, trailers, construction and earth moving equipment and other
vehicles covered by a certificate of title law of any state or a comparable
federal law and all tires and other appurtenances to any of the
foregoing.

       

      Other Definitional
Provisions. 
■  The
words “hereof,” “herein”, “hereto” and “hereunder” and words of similar import
when used in this Agreement shall refer to this Agreement as a whole and not to
any particular provision of this Agreement, and Section and Schedule references
are to this Agreement unless otherwise specified.

       

      The
meanings given to terms defined herein shall be equally applicable to both the
singular and plural forms of such terms.

       

      Where the
context requires, terms relating to the Collateral or any part thereof, when
used in relation to a Grantor, shall refer to such Grantor’s Collateral or the
relevant part thereof.

       

      GUARANTEE

       

      Guarantee. 
■  Each
of the Guarantors hereby, jointly and severally, unconditionally and
irrevocably, guarantees to the Administrative Agent, for the ratable benefit of
the Secured Parties and their respective successors, indorsees, transferees and
assigns, the prompt and complete payment and performance by the Borrower when
due (whether at the stated maturity, by acceleration or otherwise) of the
Borrower Obligations.

       

      Anything
herein or in any other Loan Document to the contrary notwithstanding, the
maximum liability of each Guarantor hereunder and under the other Loan Documents
shall in no event exceed the amount which can be guaranteed by such Guarantor
under applicable federal and state laws relating to the insolvency of debtors
(after giving effect to the right of contribution established in Section
2.2).

       

      Each
Guarantor agrees that the Borrower Obligations may at any time and from time to
time exceed the amount of the liability of such Guarantor hereunder without
impairing the guarantee contained in this Section 2 or affecting the rights and
remedies of the Administrative Agent or any Lender hereunder.

       

      The
guarantee contained in this Section 2 shall remain in full force and effect
until all the Borrower Obligations and the obligations of each Guarantor under
the guarantee contained in this Section 2 shall have been satisfied by payment
in full, no Letter of Credit shall be outstanding and the Commitments shall be
terminated, notwithstanding that from time to time during the term of the Credit
Agreement the Borrower may be free from any Borrower Obligations.

       

      No
payment made by the Borrower, any of the Guarantors, any other guarantor or any
other Person or received or collected by the Administrative Agent or any Lender
from the Borrower, any of the Guarantors, any other guarantor or any other
Person by virtue of any action or proceeding or any set-off or appropriation or
application at any time or from time to time in reduction of or in payment of
the Borrower Obligations shall be deemed to modify, reduce, release or otherwise
affect the liability of any Guarantor hereunder which shall, notwithstanding any
such payment (other than any payment made by such Guarantor in respect of the
Borrower Obligations or any payment received or collected from such Guarantor in
respect of the Borrower Obligations), remain liable for the Borrower Obligations
up to the maximum liability of such Guarantor hereunder until the Borrower
Obligations are paid in full, no Letter of Credit shall be outstanding and the
Commitments are terminated.

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

       

      Right of
Contribution. 
Each Subsidiary Guarantor hereby agrees that to the extent that a Subsidiary
Guarantor shall have paid more than its proportionate share of any payment made
hereunder, such Subsidiary Guarantor shall be entitled to seek and receive
contribution from and against any other Subsidiary Guarantor hereunder which has
not paid its proportionate share of such payment.  Each Subsidiary
Guarantor’s right of contribution shall be subject to the terms and conditions
of Section 2.3.  The provisions of this Section 2.2 shall in no respect
limit the obligations and liabilities of any Subsidiary Guarantor to the
Administrative Agent and the Lenders, and each Subsidiary Guarantor shall remain
liable to the Administrative Agent and the Lenders for the full amount
guaranteed by such Subsidiary Guarantor hereunder.

       

      No
Subrogation. 
Notwithstanding any payment made by any Guarantor hereunder or any set-off or
application of funds of any Guarantor by the Administrative Agent or any Lender,
no Guarantor shall be entitled to be subrogated to any of the rights of the
Administrative Agent or any Lender against the Borrower or any other Guarantor
or any collateral security or guarantee or right of offset held by the
Administrative Agent or any Lender for the payment of the Borrower Obligations,
nor shall any Guarantor seek or be entitled to seek any contribution or
reimbursement from the Borrower or any other Guarantor in respect of payments
made by such Guarantor hereunder, until all amounts owing to the Administrative
Agent and the Lenders by the Borrower on account of the Borrower Obligations are
paid in full, no Letter of Credit shall be outstanding and the Commitments are
terminated.  If any amount shall be paid to any Guarantor on account of
such subrogation rights at any time when all of the Borrower Obligations shall
not have been paid in full, such amount shall be held by such Guarantor in trust
for the Administrative Agent and the Lenders, segregated from other funds of
such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned
over to the Administrative Agent in the exact form received by such Guarantor
(duly indorsed by such Guarantor to the Administrative Agent, if required), to
be applied against the Borrower Obligations, whether matured or unmatured, in
such order as the Administrative Agent may determine.

       

      Amendments, etc. with
respect to the Borrower Obligations. 
Each Guarantor shall remain obligated hereunder notwithstanding that, without
any reservation of rights against any Guarantor and without notice to or further
assent by any Guarantor, any demand for payment of any of the Borrower
Obligations made by the Administrative Agent or any Lender may be rescinded by
the Administrative Agent or such Lender and any of the Borrower Obligations
continued, and the Borrower Obligations, or the liability of any other Person
upon or for any part thereof, or any collateral security or guarantee therefor
or right of offset with respect thereto, may, from time to time, in whole or in
part, be renewed, extended, amended, modified, accelerated, compromised, waived,
surrendered or released by the Administrative Agent or any Lender, and the
Credit Agreement and the other Loan Documents and any other documents executed
and delivered in connection therewith may be amended, modified, supplemented or
terminated, in whole or in part, as the Administrative Agent (or the Required
Lenders or all Lenders, as the case may be) may deem advisable from time to
time, and any collateral security, guarantee or right of offset at any time held
by the Administrative Agent or any Lender for the payment of the Borrower
Obligations may be sold, exchanged, waived, surrendered or released. 
Neither the Administrative Agent nor any Lender shall have any obligation to
protect, secure, perfect or insure any Lien at any time held by it as security
for the Borrower Obligations or for the guarantee contained in this Section 2 or
any property subject thereto.  

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

       

      Guarantee Absolute and
Unconditional. 
Each Guarantor waives any and all notice of the creation, renewal, extension or
accrual of any of the Borrower Obligations and notice of or proof of reliance by
the Administrative Agent or any Lender upon the guarantee contained in this
Section 2 or acceptance of the guarantee contained in this Section 2; the
Borrower Obligations, and any of them, shall conclusively be deemed to have been
created, contracted or incurred, or renewed, extended, amended or waived, in
reliance upon the guarantee contained in this Section 2; and all dealings
between the Borrower and any of the Guarantors, on the one hand, and the
Administrative Agent and the Lenders, on the other hand, likewise shall be
conclusively presumed to have been had or consummated in reliance upon the
guarantee contained in this Section 2.  Each Guarantor waives diligence,
presentment, protest, demand for payment and notice of default or nonpayment to
or upon the Borrower or any of the Guarantors with respect to the Borrower
Obligations.  Each Guarantor understands and agrees that the guarantee
contained in this Section 2 shall be construed as a continuing, absolute and
unconditional guarantee of payment without regard to (a) the validity or
enforceability of the Credit Agreement or any other Loan Document, any of the
Borrower Obligations or any other collateral security therefor or guarantee or
right of offset with respect thereto at any time or from time to time held by
the Administrative Agent or any Lender, (b) any defense, set-off or counterclaim
(other than a defense of payment or performance) which may at any time be
available to or be asserted by the Borrower or any other Person against the
Administrative Agent or any Lender, or (c) any other circumstance whatsoever
(with or without notice to or knowledge of the Borrower or such Guarantor) which
constitutes, or might be construed to constitute, an equitable or legal
discharge of the Borrower for the Borrower Obligations, or of such Guarantor
under the guarantee contained in this Section 2, in bankruptcy or in any other
instance.  When making any demand hereunder or otherwise pursuing its
rights and remedies hereunder against any Guarantor, the Administrative Agent or
any Lender may, but shall be under no obligation to, make a similar demand on or
otherwise pursue such rights and remedies as it may have against the Borrower,
any other Guarantor or any other Person or against any collateral security or
guarantee for the Borrower Obligations or any right of offset with respect
thereto, and any failure by the Administrative Agent or any Lender to make any
such demand, to pursue such other rights or remedies or to collect any payments
from the Borrower, any other Guarantor or any other Person or to realize upon
any such collateral security or guarantee or to exercise any such right of
offset, or any release of the Borrower, any other Guarantor or any other Person
or any such collateral security, guarantee or right of offset, shall not relieve
any Guarantor of any obligation or liability hereunder, and shall not impair or
affect the rights and remedies, whether express, implied or available as a
matter of law, of the Administrative Agent or any Lender against any
Guarantor.  For the purposes hereof, “demand” shall include the
commencement and continuance of any legal proceedings.

       

      Reinstatement. 
The guarantee contained in this Section 2 shall continue to be effective, or be
reinstated, as the case may be, if at any time payment, or any part thereof, of
any of the Borrower Obligations is rescinded or must otherwise be restored or
returned by the Administrative Agent or any Lender upon the insolvency,
bankruptcy, dissolution, liquidation or reorganization of the Borrower or any
Guarantor, or upon or as a result of the appointment of a receiver, intervenor
or conservator of, or trustee or similar officer for, the Borrower or any
Guarantor or any substantial part of its property, or otherwise, all as though
such payments had not been made.

       

      Payments. 
Each Guarantor hereby guarantees that payments hereunder will be paid to the
Administrative Agent without set-off or counterclaim in Dollars at the Funding
Office.

       

      GRANT OF
SECURITY INTEREST

       

      Each
Grantor hereby assigns and transfers to the Administrative Agent, and hereby
grants to the Administrative Agent, for the ratable benefit of the Secured
Parties, a security interest in, all of the following property now owned or at
any time hereafter acquired by such Grantor or in which such Grantor now has or
at any time in the future may acquire any right, title or interest
(collectively, the “Collateral”), as
collateral security for the prompt and complete payment and performance when due
(whether at the stated maturity, by acceleration or otherwise) of such Grantor’s
Obligations:

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

       

      all
Accounts;

       

      all
Chattel Paper;

       

      all
Deposit Accounts;

       

      all
Documents (other than title documents with respect to Vehicles);

       

      all
Equipment;

       

      all
Fixtures;

       

      all
General Intangibles;

       

      all
Instruments;

       

      all
Intellectual Property and Intellectual Property Licenses;

       

      all
Inventory;

       

      all
Investment Property;

       

      all
Letter-of-Credit Rights;

       

      all
Commercial Tort Claims;

       

      (m)          all
other property not otherwise described above (except for any property
specifically excluded from any clause in this section above, and any property
specifically excluded from any defined term used in any clause of this section
above);

      

      (n)          all
books and records pertaining to the Collateral; and

       

      (o)          to
the extent not otherwise included, all Proceeds, Supporting Obligations and
products of any and all of the foregoing and all collateral security and
guarantees given by any Person with respect to any of the
foregoing;

       

      provided, however,
that notwithstanding any of the other provisions set forth in this Section 3,
this Agreement shall not constitute a grant of a security interest in Excluded
Collateral and the term “Collateral” (including all of the individual items
comprising Collateral) shall not include, any Excluded Collateral.

       

      REPRESENTATIONS
AND WARRANTIES

       

      To induce
the Administrative Agent and the Lenders to enter into the Credit Agreement and
to induce the Lenders to make their respective extensions of credit to the
Borrower thereunder, each Grantor hereby represents and warrants to the
Administrative Agent and each Lender that:

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

       

      Title; No Other
Liens. 
Except for the security interest granted to the Administrative Agent for the
ratable benefit of the Secured Parties pursuant to this Agreement and the other
Liens permitted to exist on the Collateral by the Credit Agreement, such Grantor
owns each item of the Collateral in which a Lien is granted by it free and clear
of any and all Liens.  For the avoidance of doubt, it is understood and
agreed that any Grantor may, as part of its business, grant licenses to third
parties to use Intellectual Property owned or developed by a Grantor.  For
purposes of this Agreement and the other Loan Documents, such licensing activity
shall not constitute a “Lien” on such Intellectual Property.  Each of the
Administrative Agent and each Lender understands that any such licenses may be
exclusive to the applicable licensees, and such exclusivity provisions may limit
the ability of the Administrative Agent to utilize, sell, lease or transfer the
related Intellectual Property or otherwise realize value from such Intellectual
Property pursuant hereto.

       

      Perfected First Priority
Liens. 
The security interests granted pursuant to this Agreement (a) upon completion of
the filings and other actions specified on Schedule 3
(which, in the case of all filings and other documents referred to on said
Schedule, have been delivered to the Administrative Agent in completed and duly
executed form) will constitute valid perfected security interests in all of the
Collateral in favor of the Administrative Agent, for the ratable benefit of the
Secured Parties, as collateral security for such Grantor’s Obligations,
enforceable in accordance with the terms hereof against all creditors of such
Grantor and any Persons purporting to purchase any Collateral from such Grantor
and (b) are prior to all other Liens on the Collateral in existence on the date
hereof except for unrecorded Liens permitted by the Credit Agreement which have
priority over the Liens on the Collateral by operation of law.

       

      Legal Name; Jurisdiction of
Organization; Chief Executive Office. 
■  As
of the date hereof, the exact legal name of such Grantor as it appears on its
certificate of incorporation (or other equivalent formation document) filed with
the applicable state of federal governmental authority, as the case may be, all
other legal names such Grantor has had at any time during the past five years
together with the relevant name change and all trade name(s) or similar
appellations in the operation of its business owned or used by such Grantor are
specified on Schedule 4.  As of the date hereof, the type of organization
of such Grantor is set forth on Schedule 4.  Except as set forth on
Schedule 4, as of the date of hereof, such Grantor has not changed its identity
or corporate structure in any way within the past five years.  If any such
change has occurred within the past five years, Schedule 4 sets forth the
information required by this Section 4.3(a) (other than with respect to chief
executive office address) for any other business or organization as to which
such Grantor became the successor by merger, consolidation, acquisition or
otherwise, now or at any time during the past five years from the date
hereof.  On the date hereof, such Grantor’s jurisdiction of organization,
identification number from the jurisdiction of organization (if any), the
Federal Employer Identification Number (or federal tax identification number)
and the location of such Grantor’s chief executive office or sole place of
business or principal residence, as the case may be, are specified on Schedule
4.

       

      Such
Grantor has furnished to the Administrative Agent a certified charter,
certificate of incorporation or other organization document and good standing
certificate as of a date which is recent to the date hereof.

       

      Except
for Collateral acquired pursuant to mergers, consolidations or acquisitions set
forth on Schedule 4, all Collateral has been originated by such Grantor in the
ordinary course of business or consists of goods which have been acquired by
such Grantor in the ordinary course of business from a person in the business of
selling goods of that kind.

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

       

      Inventory and
Equipment;
Books and Records. 
On the date hereof, the Inventory and the Equipment held by any Grantor and
having an aggregate book value at any location in excess of $250,000 (other than
mobile goods) are kept at the locations listed on Schedule 5.  The
books and records of such Loan Party pertaining to the Collateral are located at
the addresses indicated for such Loan Party is set forth on Schedule 5 (if
different from the chief executive office or sole place of business or principal
residence specified on Schedule 4).

       

      Investment
Property. 
■  As
of the date hereof, Schedule 2 sets forth a true and correct list for such
Grantor of (i) all of the issued and outstanding stock, partnership interests,
limited liability company interests or other Capital Stock owned, beneficially
or of record, by such Grantor, including the Issuer and certificate number (if
any) of, and the number and percentage of ownership represented by, such Capital
Stock, (ii) each equity investment of such Grantor that represents 50% or less
of the equity of the entity in which such investment was made and (iii) all
promissory notes, chattel paper and other evidence of indebtedness owned by such
Grantor (other than checks to be deposited in the ordinary course of business)
that are required to be pledged hereunder.  The shares of Pledged Stock
pledged by such Grantor hereunder constitute all the issued and outstanding
shares of all classes of the Capital Stock of each Issuer owned by such Grantor
or, in the case of Foreign Subsidiary Voting Stock, if less, 66% of the
outstanding Foreign Subsidiary Voting Stock of each relevant
Issuer.

       

      All the
shares of the Pledged Stock have been duly and validly issued and are fully paid
and nonassessable.

       

      Each of
the Pledged Notes constitutes the legal, valid and binding obligation of the
obligor with respect thereto, enforceable in accordance with its terms, subject
to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and other similar laws relating to or affecting creditors’ rights
generally, general equitable principles (whether considered in a proceeding in
equity or at law) and an implied covenant of good faith and fair
dealing.

       

      Such
Grantor is the record and beneficial owner of, and has good and marketable title
to, the Investment Property pledged by it hereunder, free of any and all Liens
or options in favor of, or claims of, any other Person, except the security
interest created by this Agreement.

       

      Receivables. 
■  No
amount payable to such Grantor under or in connection with any Receivable is
evidenced by any Instrument (other than checks that will be promptly deposited
in an investment account in the ordinary course of business) or Chattel Paper
which has not been delivered to the Administrative Agent to the extent such
delivery is required hereunder.

       

      None of
the obligors on any Receivables is a Governmental Authority.

       

      The
amounts represented by such Grantor to the Lenders from time to time as owing to
such Grantor in respect of the Receivables will at such times be accurate in all
material respects.

       

      Intellectual
Property. 
■  Schedule 6 lists (i)
all United States Intellectual Property applications and registrations owned by
such Grantor in its own name on the date hereof and (ii) all United States
Intellectual Property registrations and applications exclusively licensed by
such Grantor, listing in each case, the application or registration number, the
jurisdiction and owner.

       

      On the
date hereof, all material Intellectual Property owned by such Grantor is valid,
unexpired and enforceable, and has not been abandoned. The conduct of such
Grantor’s business does not infringe or violate the Intellectual Property rights
of any Person, except as would not reasonably be expected to result in a
Material Adverse Effect.  To such Grantor’s knowledge, Intellectual
Property owned by such Grantor is not being infringed or violated by any Person
in any material respect.

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

       

      Except as
set forth in Schedule
6, on the date hereof, none of the Intellectual Property is the subject
of any licensing or franchise agreement pursuant to which such Grantor is the
licensor or franchisor.

       

      No
holding, decision or judgment has been rendered by any Governmental Authority or
arbitrator involving Intellectual Property owned by such Grantor in any respect
that could reasonably be expected to have a Material Adverse
Effect.

       

      No action
or proceeding is pending, or, to the knowledge of such Grantor, threatened, on
the date hereof (i) involving any Intellectual Property owned by such Grantor or
(ii) which, if adversely determined, would have a Material Adverse Effect on the
value of any Intellectual Property to such Grantor.

       

      Such
Grantor owns or has the right to use all Intellectual Property that is material
to its business as currently conducted, free of all Liens and takes all
reasonable steps to maintain, enforce and protect same.

       

      Commercial Tort
Claims. 
■  On
the date hereof, except to the extent listed on Schedule 7, no
Grantor has rights in any Commercial Tort Claim with potential value in excess
of $250,000.

       

      Upon the
filing of a financing statement covering any Commercial Tort Claim referred to
in Section 5.11 hereof against such Grantor in the jurisdiction specified in
Schedule 3 hereto, the security interest granted in such Commercial Tort Claim
will constitute a valid perfected security interest in favor of the
Administrative Agent, for the ratable benefit of the Secured Parties, as
collateral security for such Grantor’s Obligations, enforceable in accordance
with the terms hereof against all creditors of such Grantor and any Persons
purporting to purchase such Collateral from Grantor, which security interest
shall be prior to all other Liens on such Collateral except for unrecorded liens
permitted by the Credit Agreement which have priority over the Liens on such
Collateral by operation of law.

       

      Accounts. 
Schedule 8 sets forth a list of all accounts where such Grantor currently
maintains its bank deposits, investments and securities, including Deposit
Accounts, investment accounts, securities accounts, commodity accounts or other
similar accounts with any bank or other financial institution or other
securities intermediary or commodity intermediary.

       

      COVENANTS

       

      Each
Grantor covenants and agrees with the Administrative Agent and the Lenders that,
from and after the date of this Agreement until the Obligations shall have been
paid in full, no Letter of Credit shall be outstanding and the Commitments shall
have terminated:

       

      Delivery of Instruments,
Certificated Securities and Chattel Paper. 
If any amount payable under or in connection with any of the Collateral shall be
or become evidenced by any Instrument (other than check that will be promptly
deposited in an investment account in the ordinary course of business), or
Chattel Paper evidencing an amount in excess of $250,000 in any one case or
which would result in the aggregate amount of all such Chattel Paper or
Instruments to exceed $500,000, any Certified Security, such Instrument,
Certificated Security or Chattel Paper shall be promptly, delivered to the
Administrative Agent, duly indorsed in a manner satisfactory to the
Administrative Agent, to be held as Collateral pursuant to this
Agreement.
 

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

       

      Maintenance of
Insurance. 
All insurance maintained by such Grantor pursuant to Section 6.5 of the Credit
Agreement shall (i) provide that no cancellation, material reduction in amount
or material change in coverage thereof shall be effective until at least 30 days
after receipt by the Administrative Agent of written notice thereof and (ii)
name the Administrative Agent as an additional insured party or loss
payee.

       

      Maintenance of Perfected
Security Interest; Further Documentation. 
■  Such
Grantor shall maintain the security interest created by this Agreement as a
perfected security interest having at least the priority described in Section
4.2 and shall defend such security interest against the claims and demands of
all Persons whomsoever, subject to the rights of such Grantor under the Loan
Documents to dispose of the Collateral.

       

      Such
Grantor will furnish to the Administrative Agent from time to time statements
and schedules further identifying and describing the Collateral of such Grantor
and such other documents in connection therewith as the Administrative Agent may
reasonably request, all in reasonable detail.

       

      At any
time and from time to time, upon the written request of the Administrative
Agent, and at the sole expense of such Grantor, such Grantor will promptly and
duly execute and deliver, and have recorded, such further instruments and
documents and take such further actions as the Administrative Agent may
reasonably request for the purpose of obtaining or preserving the full benefits
of this Agreement and of the rights and powers herein granted, including,
without limitation, (i) filing any financing or continuation statements under
the Uniform Commercial Code (or other similar laws) in effect in any
jurisdiction with respect to the security interests created hereby and (ii) in
the case of Investment Property, Deposit Accounts, Letter-of-Credit Rights and
any other relevant Collateral, taking any actions necessary to enable the
Administrative Agent to obtain “control” (within the meaning of the applicable
Uniform Commercial Code) with respect thereto to the extent required
hereunder.

       

      Account Control
Agreements.

       

       ■  If
any Grantor, after the date hereof opens, establishes or maintains any deposit
account: (i) such Grantor shall promptly notify the Administrative Agent of the
opening or establishment of such deposit account which notice shall specify in
reasonable detail the name of the account, the owner of the account, the name
and address of the bank at which such account has been opened or established and
the individual at such bank with whom such Grantor is dealing, and (ii) no later
than the later of (x) sixty (60) days following the Closing Date or (y) thirty
(30) days following the opening of such deposit account (or such later date as
the Administrative Agent may agree in its reasonable discretion), such Grantor
shall deliver to the Administrative Agent, deposit account control agreements
with respect to such deposit account duly authorized by such Grantor and
executed and delivered by such Grantor and the bank at which such deposit
account is opened and maintained, except that the Grantors shall
not be required to deliver such deposit account control agreements with respect
to (A) any individual account the balance of which is at all times less than
$100,000, provided that the
aggregate amount of all such accounts not subject to a control agreement shall
at all times be $1,000,000 or less (unless the Administrative Agent shall
request such deposit account control agreement at any time an Event of Default
exists), (B) any deposit account that is specifically and exclusively used for
payroll, payroll taxes and other employee wage and benefit payments to or for
the benefit of any Grantor’s salaried employees or (C) fiduciary or trust
accounts.

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

       

      If any
Grantor, after the date hereof opens, establishes or maintains any investment
account, securities account, commodity account or any other similar account
(other than a deposit account in accordance with Section 5.4(a), which shall be
governed by the terms thereof) with any securities intermediary or commodity
intermediary: (i) such Grantor shall promptly notify the Administrative Agent of
the opening or establishment of such account which notice shall specify in
reasonable detail the name of the account, the owner of the account, the name
and address of the securities intermediary or commodity intermediary at which
such account has been opened or established and the individual at such
intermediary with whom such Grantor is dealing, and (ii) no later than the later
of (x) sixty (60) days following the Closing Date or (y) thirty (30) days
following the opening of such investment account, securities account or other
similar account with a securities intermediary or commodity intermediary (or
such later date as the Administrative Agent may agree in its reasonable
discretion), such Grantor shall execute and deliver, and cause to be executed
and delivered to the Administrative Agent, in form and substance reasonably
satisfactory to the Administrative Agent, an investment property control
agreement with respect thereto duly authorized by such Grantor and executed and
delivered by such Grantor and such securities intermediary or commodity
intermediary; except that such Grantor shall
not be required to deliver such investment property  control
agreements with respect to any individual investment, securities, commodity or
similar accounts where the balance is, and shall at all times be, less than less
than $100,000, provided that the
aggregate amount of all such accounts not subject to a control agreement shall
at all times be $1,000,000 or less (unless the Administrative Agent shall
request such investment property control agreement at any time an Event of
Default exists).

       

      Letters of
Credit. 
In the event that any Grantor shall be entitled to or shall receive any right to
payment under any letter of credit, banker’s acceptance or any similar
instrument after the date hereof for obligations in excess of $250,000 in any
one case or $500,000 in the aggregate, whether as beneficiary thereof or
otherwise, such Grantor shall promptly notify the Administrative Agent thereof
in writing. Such Grantor shall promptly, as the Administrative Agent may
specify, either (i) use commercially reasonable efforts to arrange for the
issuer and any confirmer of such letter of credit to consent to an assignment to
the Administrative Agent of the proceeds of any drawing under such letter of
credit or (ii) use commercially reasonable efforts to arrange for the
Administrative Agent to become, the transferee beneficiary of such letter of
credit, with the Administrative Agent agreeing, in each case, that the proceeds
of any drawing under such letter of credit are to be paid to the applicable
Grantor unless an Event of Default has occurred and is continuing.

       

      Changes in Name,
etc. 
Such Grantor will not, except upon ten days’ (or such shorter period as may be
agreed to by the Administrative Agent) prior written notice to the
Administrative Agent and delivery to the Administrative Agent of all additional
executed financing statements and other documents reasonably requested by the
Administrative Agent to maintain the validity, perfection and priority of the
security interests provided for herein, (i) change its jurisdiction of
organization or the location of its chief executive office or sole place of
business from that referred to in Section 4.3 or (ii) change its
name.

       

      Notices. 
Such Grantor will advise the Administrative Agent and the Lenders promptly, in
reasonable detail, of:

       

      any Lien
(other than security interests created hereby or Liens permitted under the
Credit Agreement) on any of the Collateral which would adversely affect the
ability of the Administrative Agent to exercise any of its remedies hereunder;
and

       

      of the
occurrence of any other event which could reasonably be expected to have a
material adverse effect on the aggregate value of the Collateral or on the
security interests created hereby.

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

       

      Investment
Property  ■  If
such Grantor shall become entitled to receive or shall receive any certificate
(including, without limitation, any certificate representing a dividend or a
distribution in connection with any reclassification, increase or reduction of
capital or any certificate issued in connection with any reorganization), option
or rights in respect of the Capital Stock of any Issuer, whether in addition to,
in substitution of, as a conversion of, or in exchange for, any shares of the
Pledged Stock, or otherwise in respect thereof, such Grantor shall accept the
same as the agent of the Administrative Agent and the Lenders, hold the same in
trust for the Administrative Agent and the Lenders and deliver the same
forthwith to the Administrative Agent in the exact form received, duly indorsed
by such Grantor to the Administrative Agent, if required, together with an
undated stock power covering such certificate duly executed in blank by such
Grantor and with, if the Administrative Agent so requests, signature guaranteed,
to be held by the Administrative Agent, subject to the terms hereof, as
additional collateral security for the Obligations; provided, that in no event
shall this Section 5.8(a) apply to any Excluded Collateral.  Any sums paid
upon or in respect of the Investment Property upon the liquidation or
dissolution of any Issuer shall, unless otherwise subject to a perfected
security interest in favor of the Administrative Agent, be paid over to the
Administrative Agent to be held by it hereunder as additional collateral
security for the Obligations, and in case any distribution of capital shall be
made on or in respect of the Investment Property or any property shall be
distributed upon or with respect to the Investment Property pursuant to the
recapitalization or reclassification of the capital of any Issuer or pursuant to
the reorganization thereof, the property so distributed shall, unless otherwise
subject to a perfected security interest in favor of the Administrative Agent,
be delivered to the Administrative Agent to be held by it hereunder as
additional collateral security for the Obligations.  If any sums of money
or property so paid or distributed in respect of the Investment Property shall
be received by such Grantor, such Grantor shall, until such money or property is
paid or delivered to the Administrative Agent, unless otherwise subject to a
perfected security interest in favor of the Administrative Agent, hold such
money or property in trust for the Administrative Agent and the Lenders,
segregated from other funds of such Grantor, as additional collateral security
for the Obligations.

       

      In the
case of each Grantor which is an Issuer, such Issuer agrees that (i) it will be
bound by the terms of this Agreement relating to the Investment Property issued
by it and will comply with such terms insofar as such terms are applicable to
it, (ii) it will notify the Administrative Agent promptly in writing of the
occurrence of any of the events described in Section 5.8(a) with respect to the
Investment Property issued by it and (iii) the terms of Sections 6.3(c) and 6.6
shall apply to it, mutatis mutandis, with
respect to all actions that may be required of it pursuant to Section 6.3(c) or
6.6 with respect to the Investment Property issued by it.

       

      Receivables. 
After an Event of Default has occurred and is continuing:

       

      other
than in the ordinary course of business consistent with its past practice, such
Grantor will not (i) grant any extension of the time of payment of any
Receivable, (ii) compromise or settle any Receivable for less than the full
amount thereof, (iii) release, wholly or partially, any Person liable for the
payment of any Receivable, (iv) allow any credit or discount whatsoever on any
Receivable or (v) amend, supplement or modify any Receivable in any manner that
could adversely affect the value thereof.

       

      such
Grantor will deliver to the Administrative Agent a copy of each material demand,
notice or document received by it that questions or calls into doubt the
validity or enforceability of more than 5% of the aggregate amount of the then
outstanding Receivables.

       

      Intellectual
Property. 
■  Such
Grantor (either itself or through licensees) will (i) continue to use each
material Trademark in order to maintain such Trademark in full force free from
any claim of abandonment for non-use, (ii) maintain as in the past the quality
of products and services offered under such Trademark, (iii) use such Trademark
with the appropriate notice of registration and all other notices and legends
required by applicable Requirements of Law, (iv) not adopt or use any mark which
is confusingly similar or a colorable imitation of such Trademark unless the
Administrative Agent, for the ratable benefit of the Secured Parties, shall
obtain a perfected security interest in such mark pursuant to this Agreement and
(v) not (and not knowingly permit any licensee or sublicensee thereof to) do any
act or knowingly omit to do any act whereby such Trademark may become
invalidated or impaired in any way if such invalidation or impairment could
reasonably be expected to have a Material Adverse Effect.

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

       

      Such
Grantor (either itself or through licensees) will not do any act, or omit to do
any act, whereby any material Patent may become forfeited, abandoned or
dedicated to the public.

       

      Such
Grantor (either itself or through licensees) will not (and will not knowingly
permit any licensee or sublicensee thereof to) do any act or knowingly omit to
do any act whereby any material Copyright may become invalidated or otherwise
impaired if such invalidation or impairment could reasonably be expected to have
a Material Adverse Effect.  Such Grantor will not (either itself or through
licensees) do any act whereby any material Copyright may fall into the public
domain if such act could reasonably be expected to have in a Material Adverse
Effect.

       

      Such
Grantor (either itself or through licensees) will not knowingly do any act to
infringe or violate the Intellectual Property rights of any other
Person.

       

      Such
Grantor will notify the Administrative Agent promptly if it knows, or has reason
to know, that any application or registration relating to any material
Intellectual Property may become forfeited, abandoned or dedicated to the public
or of any materially adverse determination (including, without limitation, any
determination in any proceeding in the United States Patent and Trademark Office
or the United States Copyright Office) regarding such Grantor’s ownership of, or
the validity of, any material Intellectual Property or such Grantor’s right to
register the same or to own and maintain the same.

       

      Whenever
such Grantor, either by itself or through any agent, employee, licensee or
designee, shall (i) acquire, (ii) become the exclusive licensee of or (iii) file
an application for, the registration of any Intellectual Property with the
United States Patent and Trademark Office, the United States Copyright Office or
any similar office or agency in any other country or any political subdivision
thereof, such Grantor shall report such filing or acquisition to the
Administrative Agent not later than the date of delivery of financial statements
pursuant to Section 6.1 of the Credit Agreement.  Upon request of the
Administrative Agent, such Grantor shall execute and deliver, and have recorded
(other than in respect of United States intent-to-use Trademark applications
until acceptable Statements of Use have been filed for such applications and
accepted by the United States Patent and Trademark Office), any and all
agreements, instruments, documents, and papers as the Administrative Agent may
request to evidence the Administrative Agent’s and the Lenders’ security
interest in any Copyright, Patent or Trademark and the goodwill and general
intangibles of such Grantor relating thereto or represented
thereby.

       

      Such
Grantor will take all reasonable and necessary steps, including, without
limitation, in any proceeding before the United States Patent and Trademark
Office and the United States Copyright Office, to maintain and pursue each
application relating to any material Intellectual Property owned by such Grantor
(and to obtain the relevant registration) and to maintain each registration of
the material Intellectual Property owned by such Grantor, including, without
limitation, filing of applications for renewal, affidavits of use and affidavits
of incontestability.

       

      In the
event that any material Intellectual Property is infringed, misappropriated or
diluted by a third party and such Grantor has knowledge of such infringement,
misappropriation or dilution, such Grantor shall (i) as necessary in such
Grantor’s reasonable judgment, take such actions as such Grantor shall
reasonably deem appropriate under the circumstances to protect such Intellectual
Property and (ii) if such Intellectual Property is of material economic value,
promptly notify the Administrative Agent after it learns thereof and sue for
infringement, misappropriation or dilution, to seek injunctive relief where
appropriate and to recover any and all damages for such infringement,
misappropriation or dilution.

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

       

      Commercial Tort
Claims. 
If such Grantor shall obtain an interest in any Commercial Tort Claim with a
potential value in excess of $250,000, such Grantor shall within 30 days of
obtaining such interest sign and deliver documentation acceptable to the
Administrative Agent granting a security interest under the terms and provisions
of this Agreement in and to such Commercial Tort Claim.

       

      REMEDIAL
PROVISIONS

       

      Certain Matters Relating to
Receivables. 
■  After
the occurrence and during the continuance of an Event of Default, the
Administrative Agent shall have the right to make test verifications of the
Receivables in any manner and through any medium that it reasonably considers
advisable, and each Grantor shall furnish all such assistance and information as
the Administrative Agent may require in connection with such test
verifications.  After the occurrence and during the continuance of an Event
of Default,, upon the Administrative Agent’s request and at the expense of the
relevant Grantor, such Grantor shall cause independent public accountants or
others satisfactory to the Administrative Agent to furnish to the Administrative
Agent reports showing reconciliations, aging and test verifications of, and
trial balances for, the Receivables.

       

      The
Administrative Agent hereby authorizes each Grantor to collect such Grantor’s
Receivables and the Administrative Agent may curtail or terminate said authority
at any time after the occurrence and during the continuance of an Event of
Default.  If required by the Administrative Agent at any time after the
occurrence and during the continuance of an Event of Default, any payments of
Receivables, when collected by any Grantor, (i) shall be forthwith deposited by
such Grantor in the exact form received, duly indorsed by such Grantor to the
Administrative Agent if required, in a Collateral Account maintained under the
sole dominion and control of the Administrative Agent, subject to withdrawal by
the Administrative Agent for the account of the Lenders only as provided in
Section 8.2 of the Credit Agreement, and (ii) until so turned over, shall be
held by such Grantor in trust for the Administrative Agent and the Lenders,
segregated from other funds of such Grantor.  After the occurrence and
during the continuance of an Event of Default, each such deposit of Proceeds of
Receivables shall be accompanied by a report identifying in reasonable detail
the nature and source of the payments included in the deposit.

       

      At the
Administrative Agent’s request, after the occurrence and during the continuance
of an Event of Default, each Grantor shall deliver to the Administrative Agent
all original and other documents evidencing, and relating to, the agreements and
transactions which gave rise to the Receivables, including, without limitation,
all original orders, invoices and shipping receipts.

       

      Communications with
Obligors; Grantors Remain Liable. 
■  The
Administrative Agent in its own name or in the name of others may at any time
after the occurrence and during the continuance of an Event of Default
communicate with obligors under the Receivables to verify with them to the
Administrative Agent’s satisfaction the existence, amount and terms of any
Receivables.

       

      Upon the
request of the Administrative Agent at any time after the occurrence and during
the continuance of an Event of Default, each Grantor shall notify obligors on
the Receivables that the Receivables have been assigned to the Administrative
Agent for the ratable benefit of the Secured Parties and that payments in
respect thereof shall be made directly to the Administrative
Agent.

      
        
           

        

        
          16

          
            

          

        

        
           

        

      

       

      Anything
herein to the contrary notwithstanding, each Grantor shall remain liable under
each of the Receivables to observe and perform all the conditions and
obligations to be observed and performed by it thereunder, all in accordance
with the terms of any agreement giving rise thereto.  Neither the
Administrative Agent nor any Lender shall have any obligation or liability under
any Receivable (or any agreement giving rise thereto) by reason of or arising
out of this Agreement or the receipt by the Administrative Agent or any Lender
of any payment relating thereto, nor shall the Administrative Agent or any
Lender be obligated in any manner to perform any of the obligations of any
Grantor under or pursuant to any Receivable (or any agreement giving rise
thereto), to make any payment, to make any inquiry as to the nature or the
sufficiency of any payment received by it or as to the sufficiency of any
performance by any party thereunder, to present or file any claim, to take any
action to enforce any performance or to collect the payment of any amounts which
may have been assigned to it or to which it may be entitled at any time or
times.

       

      Pledged
Stock. 
■  Unless
an Event of Default shall have occurred and be continuing and the Administrative
Agent shall have given notice to the relevant Grantor of the Administrative
Agent’s intent to exercise its corresponding rights pursuant to Section 6.3(b),
each Grantor shall be permitted to receive all cash dividends paid in respect of
the Pledged Stock and all payments made in respect of the Pledged Notes to the
extent not prohibited in the Credit Agreement, and to exercise all voting and
corporate or other organizational rights with respect to the Investment
Property; provided, however, that no vote shall be cast or corporate or other
organizational right exercised or other action taken which, in the
Administrative Agent’s reasonable judgment, which would impair the Collateral or
which would be inconsistent with or result in any violation of any provision of
the Credit Agreement, this Agreement or any other Loan Document.

       

      If an
Event of Default shall occur and be continuing and the Administrative Agent
shall give notice of its intent to exercise such rights to the relevant Grantor
or Grantors, (i) the Administrative Agent shall have the right to receive
any and all cash dividends, payments or other Proceeds paid in respect of the
Investment Property and make application thereof to the Obligations in
accordance with the Credit Agreement, and (ii) any or all of the Investment
Property shall be registered in the name of the Administrative Agent or its
nominee, and the Administrative Agent or its nominee may thereafter exercise (x)
all voting, corporate and other rights pertaining to such Investment Property at
any meeting of shareholders of the relevant Issuer or Issuers or otherwise and
(y) any and all rights of conversion, exchange and subscription and any
other rights, privileges or options pertaining to such Investment Property as if
it were the absolute owner thereof (including, without limitation, the right to
exchange at its discretion any and all of the Investment Property upon the
merger, consolidation, reorganization, recapitalization or other fundamental
change in the corporate or other organizational structure of any Issuer, or upon
the exercise by any Grantor or the Administrative Agent of any right, privilege
or option pertaining to such Investment Property, and in connection therewith,
the right to deposit and deliver any and all of the Investment Property with any
committee, depositary, transfer agent, registrar or other designated agency upon
such terms and conditions as the Administrative Agent may determine), all
without liability except to account for property actually received by it, but
the Administrative Agent shall have no duty to any Grantor to exercise any such
right, privilege or option and shall not be responsible for any failure to do so
or delay in so doing.

       

      Each
Grantor hereby authorizes and instructs each Issuer of any Investment Property
pledged by such Grantor hereunder to (i) comply with any instruction received by
it from the Administrative Agent in writing that (x) states that an Event of
Default has occurred and is continuing and (y) is otherwise in accordance with
the terms of this Agreement, without any other or further instructions from such
Grantor, and each Grantor agrees that each Issuer shall be fully protected in so
complying, and (ii) unless otherwise expressly permitted hereby, pay any
dividends or other payments with respect to the Investment Property directly to
the Administrative Agent.

      
        
           

        

        
          17

          
            

          

        

        
           

        

      

       

      Proceeds to be Turned Over
To Administrative Agent. 
In addition to the rights of the Administrative Agent and the Lenders specified
in Section 6.1 with respect to payments of Receivables, if an Event of Default
shall occur and be continuing, all Proceeds received by any Grantor consisting
of cash, checks and other near cash items shall be held by such Grantor in trust
for the Administrative Agent and the Lenders, segregated from other funds of
such Grantor and shall, forthwith upon receipt by such Grantor, be turned over
to the Administrative Agent in the exact form received by such Grantor (duly
indorsed by such Grantor to the Administrative Agent, if required).  All
Proceeds received by the Administrative Agent hereunder shall be held by the
Administrative Agent in a Collateral Account maintained under its sole dominion
and control.  All Proceeds while held by the Administrative Agent in a
Collateral Account (or by such Grantor in trust for the Administrative Agent and
the Lenders) shall continue to be held as collateral security for all the
Obligations and shall not constitute payment thereof until applied as provided
in Section 8.2 of the Credit Agreement.

       

      Code and Other
Remedies. 
If an Event of Default shall occur and be continuing, the Administrative Agent,
on behalf of the Lenders, may exercise, in addition to all other rights and
remedies granted to them in this Agreement and in any other instrument or
agreement securing, evidencing or relating to the Obligations, all rights and
remedies of a secured party under the New York UCC or any other applicable
law.  Without limiting the generality of the foregoing, the Administrative
Agent, without demand of performance or other demand, presentment, protest,
advertisement or notice of any kind (except any notice required by law referred
to below) to or upon any Grantor or any other Person (all and each of which
demands, defenses, advertisements and notices are hereby waived), may in such
circumstances forthwith collect, receive, appropriate and realize upon the
Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give
option or options to purchase, or otherwise dispose of and deliver the
Collateral or any part thereof (or contract to do any of the foregoing), in one
or more parcels at public or private sale or sales, at any exchange, broker’s
board or office of the Administrative Agent or any Lender or elsewhere upon such
terms and conditions as it may deem advisable and at such prices as it may deem
best, for cash or on credit or for future delivery without assumption of any
credit risk.  The Administrative Agent or any Lender shall have the right
upon any such public sale or sales, and, to the extent permitted by law, upon
any such private sale or sales, to purchase the whole or any part of the
Collateral so sold, free of any right or equity of redemption in any Grantor,
which right or equity is hereby waived and released.  Each Grantor further
agrees, at the Administrative Agent’s request, to assemble the Collateral and
make it available to the Administrative Agent at places which the Administrative
Agent shall reasonably select, whether at such Grantor’s premises or
elsewhere.  The Administrative Agent shall apply the net proceeds of any
action taken by it pursuant to this Section 6.5, after deducting all reasonable
costs and expenses of every kind incurred in connection therewith or incidental
to the care or safekeeping of any of the Collateral or in any way relating to
the Collateral or the rights of the Administrative Agent and the Lenders
hereunder, including, without limitation, reasonable attorneys’ fees and
disbursements, to the payment in whole or in part of the Obligations, in such
order as set forth in the Credit Agreement, and only after such application and
after the payment by the Administrative Agent of any other amount required by
any provision of law, including, without limitation, Section 9-615(a)(3) of the
New York UCC, need the Administrative Agent account for the surplus, if any, to
any Grantor.  To the extent permitted by applicable law, each Grantor
waives all claims, damages and demands it may acquire against the Administrative
Agent or any Lender arising out of the exercise by them of any rights hereunder
except to the extent caused by the gross negligence or willful misconduct of the
Administrative Agent or such Lender or their respective agents.  If any
notice of a proposed sale or other disposition of Collateral shall be required
by law, such notice shall be deemed reasonable and proper if given at least 10
days before such sale or other disposition.

      
        
           

        

        
          18

          
            

          

        

        
           

        

      

       

      Registration
Rights. 
■  Each
Grantor recognizes that the Administrative Agent may be unable to effect a
public sale of any or all the Pledged Stock, by reason of certain prohibitions
contained in the Securities Act and applicable state securities laws or
otherwise, and may be compelled to resort to one or more private sales thereof
to a restricted group of purchasers which will be obliged to agree, among other
things, to acquire such securities for their own account for investment and not
with a view to the distribution or resale thereof.  Each Grantor
acknowledges and agrees that any such private sale may result in prices and
other terms less favorable than if such sale were a public sale and,
notwithstanding such circumstances, agrees that any such private sale shall not,
solely by virtue of its status as such, be deemed to have been made in a
commercially unreasonable manner.  Subject to its compliance and state
securities laws applicable to private sales, the Administrative Agent shall be
under no obligation to delay a sale of any of the Pledged Stock for the period
of time necessary to permit the Issuer thereof to register such securities for
public sale under the Securities Act, or under applicable state securities laws,
even if such Issuer would agree to do so.

       

      Each
Grantor agrees to use its best efforts to do or cause to be done all such other
acts as may be necessary to make such sale or sales of all or any portion of the
Pledged Stock pursuant to this Section 6.6 valid and binding and in compliance
with any and all other applicable Requirements of Law.  Each Grantor
further agrees that a breach of any of the covenants contained in this Section
6.6 will cause irreparable injury to the Administrative Agent and the Lenders,
that the Administrative Agent and the Lenders have no adequate remedy at law in
respect of such breach and, as a consequence, that each and every covenant
contained in this Section 6.6 shall be specifically enforceable against such
Grantor, and such Grantor hereby waives and agrees not to assert any defenses
against an action for specific performance of such covenants except for a
defense that no Event of Default has occurred under the Credit
Agreement.

       

      Subordination. 
Each Grantor hereby agrees that, upon the occurrence and during the continuance
of an Event of Default, unless otherwise agreed by the Administrative Agent, all
Indebtedness owing by it to any Subsidiary of the Borrower shall be fully
subordinated to the indefeasible payment in full in cash of such Grantor’s
Obligations.

       

      Deficiency. 
Each Grantor shall remain liable for any deficiency if the proceeds of any sale
or other disposition of the Collateral are insufficient to pay its Obligations
and the fees and disbursements of any attorneys employed by the Administrative
Agent or any Lender to collect such deficiency.

       

      THE
ADMINISTRATIVE AGENT

       

      Administrative Agent’s
Appointment as Attorney-in-Fact, etc. 
■  Each
Grantor hereby irrevocably constitutes and appoints the Administrative Agent and
any officer or agent thereof, with full power of substitution, as its true and
lawful attorney-in-fact with full irrevocable power and authority in the place
and stead of such Grantor and in the name of such Grantor or in its own name,
for the purpose of carrying out the terms of this Agreement, to take any and all
appropriate action and to execute any and all documents and instruments which
may be necessary or desirable to accomplish the purposes of this Agreement, and,
without limiting the generality of the foregoing, each Grantor hereby gives the
Administrative Agent the power and right, on behalf of such Grantor, without
notice to or assent by such Grantor, to do any or all of the
following:

       

      in the
name of such Grantor or its own name, or otherwise, take possession of and
indorse and collect any checks, drafts, notes, acceptances or other instruments
for the payment of moneys due under any Receivable or with respect to any other
Collateral and file any claim or take any other action or proceeding in any
court of law or equity or otherwise deemed appropriate by the Administrative
Agent for the purpose of collecting any and all such moneys due under any
Receivable or with respect to any other Collateral whenever
payable;

      
        
           

        

        
          19

          
            

          

        

        
           

        

      

       

      in the
case of any Intellectual Property, execute and deliver, and have recorded, any
and all agreements, instruments, documents and papers as the Administrative
Agent may request to evidence the Administrative Agent’s and the Lenders’
security interest in such Intellectual Property and the goodwill and general
intangibles of such Grantor relating thereto or represented
thereby;

       

      pay or
discharge taxes and Liens levied or placed on or threatened against the
Collateral, effect any repairs or any insurance called for by the terms of this
Agreement and pay all or any part of the premiums therefor and the costs
thereof;

       

      execute,
in connection with any sale provided for in Section 6.5 or 6.6, any
indorsements, assignments or other instruments of conveyance or transfer with
respect to the Collateral; and

       

      (1)  direct
any party liable for any payment under any of the Collateral to make payment of
any and all moneys due or to become due thereunder directly to the
Administrative Agent or as the Administrative Agent shall
direct;  (2)   ask or demand for, collect, and receive
payment of and receipt for, any and all moneys, claims and other amounts due or
to become due at any time in respect of or arising out of any
Collateral;  (3)   sign and indorse any invoices, freight or
express bills, bills of lading, storage or warehouse receipts, drafts against
debtors, assignments, verifications, notices and other documents in connection
with any of the Collateral;  (4) commence and prosecute any suits,
actions or proceedings at law or in equity in any court of competent
jurisdiction to collect the Collateral or any portion thereof and to enforce any
other right in respect of any Collateral; (5) defend any suit, action or
proceeding brought against such Grantor with respect to any Collateral; (6)
settle, compromise or adjust any such suit, action or proceeding and, in
connection therewith, give such discharges or releases as the Administrative
Agent may deem appropriate; (7) assign any Copyright, Patent or Trademark (along
with the goodwill of the business to which any such Copyright, Patent or
Trademark pertains), throughout the world for such term or terms, on such
conditions, and in such manner, as the Administrative Agent shall in its sole
discretion determine; and (8) generally, sell, transfer, pledge and make any
agreement with respect to or otherwise deal with any of the Collateral as fully
and completely as though the Administrative Agent were the absolute owner
thereof for all purposes, and do, at the Administrative Agent’s option and such
Grantor’s expense, at any time, or from time to time, all acts and things which
the Administrative Agent deems necessary to protect, preserve or realize upon
the Collateral and the Administrative Agent’s and the Lenders’ security
interests therein and to effect the intent of this Agreement, all as fully and
effectively as such Grantor might do.

       

      Anything
in this Section 7.1(a) to the contrary notwithstanding, the Administrative Agent
agrees that it will not exercise any rights under the power of attorney provided
for in this Section 7.1(a) unless an Event of Default shall have occurred and be
continuing.

       

      If any
Grantor fails to perform or comply with any of its agreements contained herein,
the Administrative Agent, at its option, but without any obligation so to do,
may perform or comply, or otherwise cause performance or compliance, with such
agreement.

       

      The
expenses of the Administrative Agent incurred in connection with actions
undertaken as provided in this Section 7.1, together with interest thereon at a
rate per annum equal to the highest rate per annum at which interest would then
be payable on any category of past due ABR Loans under the Credit Agreement,
from the date of payment by the Administrative Agent to the date reimbursed by
the relevant Grantor, shall be payable by such Grantor to the Administrative
Agent on demand.

      
        
           

        

        
          20

          
            

          

        

        
           

        

      

       

      Each
Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be
done by virtue hereof.  All powers, authorizations and agencies contained
in this Agreement are coupled with an interest and are irrevocable until this
Agreement is terminated and the security interests created hereby are
released.

       

      Duty of Administrative
Agent. 
The Administrative Agent’s sole duty with respect to the custody, safekeeping
and physical preservation of the Collateral in its possession, under Section
9-207 of the New York UCC or otherwise, shall be to deal with it in the same
manner as the Administrative Agent deals with similar property for its own
account.  Neither the Administrative Agent, any Lender nor any of their
respective officers, directors, employees or agents shall be liable for failure
to demand, collect or realize upon any of the Collateral or for any delay in
doing so or shall be under any obligation to sell or otherwise dispose of any
Collateral upon the request of any Grantor or any other Person or to take any
other action whatsoever with regard to the Collateral or any part thereof. 
The powers conferred on the Administrative Agent and the Lenders hereunder are
solely to protect the Administrative Agent’s and the Lenders’ interests in the
Collateral and shall not impose any duty upon the Administrative Agent or any
Lender to exercise any such powers.  The Administrative Agent and the
Lenders shall be accountable only for amounts that they actually receive as a
result of the exercise of such powers, and neither they nor any of their
officers, directors, employees or agents shall be responsible to any Grantor for
any act or failure to act hereunder, except for their own gross negligence or
willful misconduct.

       

      Execution of Financing
Statements. 
Pursuant to any applicable law, each Grantor authorizes the Administrative Agent
to file or record financing statements and other filing or recording documents
or instruments with respect to the Collateral without the signature of such
Grantor in such form and in such offices as the Administrative Agent determines
appropriate to perfect the security interests of the Administrative Agent under
this Agreement.  Each Grantor authorizes the Administrative Agent to use
the collateral description “all personal property except for Excluded Collateral
as further described in Exhibit A” in any such financing statement.  Each
Grantor hereby ratifies and authorizes the filing by the Administrative Agent of
any financing statement with respect to the Collateral made prior to the date
hereof.

       

      Authority of Administrative
Agent. 
Each Grantor acknowledges that the rights and responsibilities of the
Administrative Agent under this Agreement with respect to any action taken by
the Administrative Agent or the exercise or non-exercise by the Administrative
Agent of any option, voting right, request, judgment or other right or remedy
provided for herein or resulting or arising out of this Agreement shall, as
between the Administrative Agent and the Lenders, be governed by the Credit
Agreement and by such other agreements with respect thereto as may exist from
time to time among them, but, as between the Administrative Agent and the
Grantors, the Administrative Agent shall be conclusively presumed to be acting
as agent for the Lenders with full and valid authority so to act or refrain from
acting, and no Grantor shall be under any obligation, or entitlement, to make
any inquiry respecting such authority.

       

      MISCELLANEOUS

       

      Amendments in
Writing. 
None of the terms or provisions of this Agreement may be waived, amended,
supplemented or otherwise modified except in accordance with Section 10.1 of the
Credit Agreement.

       

      Notices. 
All notices, requests and demands to or upon the Administrative Agent or any
Grantor hereunder shall be effected in the manner provided for in Section 10.2
of the Credit Agreement; provided that any such notice, request or demand to or
upon any Guarantor shall be addressed to such Guarantor at its notice address
set forth on Schedule
1.

      
        
           

        

        
          21

          
            

          

        

        
           

        

      

       

      No Waiver by Course of
Conduct; Cumulative Remedies. 
Neither the Administrative Agent nor any Lender shall by any act (except by a
written instrument pursuant to Section 8.1), delay, indulgence, omission or
otherwise be deemed to have waived any right or remedy hereunder or to have
acquiesced in any Default or Event of Default.  No failure to exercise, nor
any delay in exercising, on the part of the Administrative Agent or any Lender,
any right, power or privilege hereunder shall operate as a waiver thereof. 
No single or partial exercise of any right, power or privilege hereunder shall
preclude any other or further exercise thereof or the exercise of any other
right, power or privilege.  A waiver by the Administrative Agent or any
Lender of any right or remedy hereunder on any one occasion shall not be
construed as a bar to any right or remedy which the Administrative Agent or such
Lender would otherwise have on any future occasion.  The rights and
remedies herein provided are cumulative, may be exercised singly or concurrently
and are not exclusive of any other rights or remedies provided by
law.

       

      Enforcement Expenses;
Indemnification. 
■  Each
Guarantor agrees to pay or reimburse each Lender and the Administrative Agent
for all its costs and expenses incurred in collecting against such Guarantor
under the guarantee contained in Section 2 of this Agreement or otherwise
enforcing or preserving any rights under this Agreement and the other Loan
Documents to which such Guarantor is a party, including, without limitation, the
fees and disbursements of counsel (including the allocated fees and expenses of
in-house counsel) to each Lender and of counsel to the Administrative
Agent.

       

      Each
Guarantor agrees to pay, and to save the Administrative Agent and the Lenders
harmless from, any and all liabilities with respect to, or resulting from any
delay in paying, any and all stamp, excise, sales or other taxes which may be
payable or determined to be payable with respect to any of the Collateral or in
connection with any of the transactions contemplated by this
Agreement.

       

      Each
Guarantor agrees to pay, and to save the Administrative Agent and the Lenders
harmless from, any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind or
nature whatsoever with respect to the execution, delivery, enforcement,
performance and administration of this Agreement to the extent the Borrower
would be required to do so pursuant to Section 10.5 of the Credit
Agreement.

       

      The
agreements in this Section 8.4 shall survive repayment of the Obligations and
all other amounts payable under the Credit Agreement and the other Loan
Documents.

       

      Successors and
Assigns. 
This Agreement shall be binding upon the successors and assigns of each Grantor
and shall inure to the benefit of the Administrative Agent and the Lenders and
their successors and assigns; provided that no Grantor may assign, transfer or
delegate any of its rights or obligations under this Agreement without the prior
written consent of the Administrative Agent.

       

      Set-Off. 
In addition to any rights and remedies of the Lenders provided by law, each
Lender shall have the right, without notice to any Grantor, any such notice
being expressly waived by each Grantor to the extent permitted by applicable
law, upon any Obligations becoming due and payable by any Grantor (whether at
the stated maturity, by acceleration or otherwise), to apply to the payment of
such Obligations, by setoff or otherwise, any and all deposits (general or
special, time or demand, provisional or final), in any currency, and any other
credits, indebtedness or claims, in any currency, in each case whether direct or
indirect, absolute or contingent, matured or unmatured, at any time held or
owing by such Lender, any affiliate thereof or any of their respective branches
or agencies to or for the credit or the account of such Grantor.  Each
Lender agrees promptly to notify the relevant Grantor and the Administrative
Agent after any such application made by such Lender, provided that the failure
to give such notice shall not affect the validity of such
application.

      
        
           

        

        
          22

          
            

          

        

        
           

        

      

       

      Counterparts. 
This Agreement may be executed by one or more of the parties to this Agreement
on any number of separate counterparts (including by email or telecopy), and all
of said counterparts taken together shall be deemed to constitute one and the
same instrument.

       

      Severability. 
Any provision of this Agreement which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

       

      Section
Headings. 
The Section headings used in this Agreement are for convenience of reference
only and are not to affect the construction hereof or be taken into
consideration in the interpretation hereof.

       

      Integration. 
This Agreement and the other Loan Documents represent the agreement of the
Grantors, the Administrative Agent and the Lenders with respect to the subject
matter hereof and thereof, and there are no promises, undertakings,
representations or warranties by the Administrative Agent or any Lender relative
to subject matter hereof and thereof not expressly set forth or referred to
herein or in the other Loan Documents.

       

      o           GOVERNING
LAW. 
THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF NEW YORK.

       

      Submission To Jurisdiction;
Waivers. 
Each Grantor hereby irrevocably and unconditionally:

       

      submits
for itself and its property in any legal action or proceeding relating to this
Agreement and the other Loan Documents to which it is a party, or for
recognition and enforcement of any judgment in respect thereof, to the
non-exclusive general jurisdiction of the courts of the State of New York, the
courts of the United States of America for the Southern District of
New York, and appellate courts from any thereof;

       

      consents
that any such action or proceeding may be brought in such courts and waives any
objection that it may now or hereafter have to the venue of any such action or
proceeding in any such court or that such action or proceeding was brought in an
inconvenient court and agrees not to plead or claim the same;

       

      agrees
that service of process in any such action or proceeding may be effected by
mailing a copy thereof by registered or certified mail (or any substantially
similar form of mail), postage prepaid, to such Grantor at its address referred
to in Section 8.2 or at such other address of which the Administrative Agent
shall have been notified pursuant thereto;

       

      agrees
that nothing herein shall affect the right to effect service of process in any
other manner permitted by law or shall limit the right to sue in any other
jurisdiction; and

      
        
           

        

        
          23

          
            

          

        

        
           

        

      

       

      waives,
to the maximum extent not prohibited by law, any right it may have to claim or
recover in any legal action or proceeding referred to in this Section any
special, exemplary, punitive or consequential damages.

       

      Acknowledgements. 
Each Grantor hereby acknowledges that:

       

      it has
been advised by counsel in the negotiation, execution and delivery of this
Agreement and the other Loan Documents to which it is a party;

       

      neither
the Administrative Agent nor any Lender has any fiduciary relationship with or
duty to any Grantor arising out of or in connection with this Agreement or any
of the other Loan Documents, and the relationship between the Grantors, on the
one hand, and the Administrative Agent and Lenders, on the other hand, in
connection herewith or therewith is solely that of debtor and creditor;
and

       

      no joint
venture is created hereby or by the other Loan Documents or otherwise exists by
virtue of the transactions contemplated hereby among the Lenders or among the
Grantors and the Lenders.

       

      Additional
Grantors. 
Each Subsidiary of the Borrower that is required to become a party to this
Agreement pursuant to Section 6.10 of the Credit Agreement shall become a
Grantor for all purposes of this Agreement upon execution and delivery by such
Subsidiary of an Assumption Agreement in the form of Annex 1
hereto.

       

      Releases. 
■  At
such time as the Loans, the Reimbursement Obligations and the other Obligations
(other than Obligations in respect of Specified Swap Agreements or Specified
Cash Management Agreements) shall have been paid in full, the Commitments have
been terminated and no Letters of Credit shall be outstanding, the Collateral
shall be released from the Liens created hereby, and this Agreement and all
obligations (other than those expressly stated to survive such termination) of
the Administrative Agent and each Grantor hereunder shall terminate, all without
delivery of any instrument or performance of any act by any party, and all
rights to the Collateral shall revert to the Grantors.  At the request and
sole expense of any Grantor following any such termination, the Administrative
Agent shall deliver to such Grantor any Collateral held by the Administrative
Agent hereunder, and execute and deliver to such Grantor such documents as such
Grantor shall reasonably request to evidence such termination.

       

      If any of
the Collateral shall be sold, transferred or otherwise disposed of by any
Grantor in a transaction not prohibited by the Credit Agreement, then the
Administrative Agent, at the request and sole expense of such Grantor, shall
execute and deliver to such Grantor all releases or other documents reasonably
necessary or desirable for the release of the Liens created hereby on such
Collateral.  At the request and sole expense of the Borrower, a Subsidiary
Guarantor shall be released from its obligations hereunder in the event that all
the Capital Stock of such Subsidiary Guarantor shall be sold, transferred or
otherwise disposed of in a transaction not prohibited by the Credit Agreement;
provided that
the Borrower shall have delivered to the Administrative Agent, at least ten
Business Days or such shorter period as the Administrative Agent may agree prior
to the date of the proposed release, a written request for release identifying
the relevant Subsidiary Guarantor and the terms of the sale or other disposition
in reasonable detail, including the price thereof and any expenses in connection
therewith, together with a certification by the Borrower stating that such
transaction is in compliance with the Credit Agreement and the other Loan
Documents.

      
        
           

        

        
          24

          
            

          

        

        
           

        

      

       

      o           WAIVER OF JURY
TRIAL. 
EACH GRANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY
LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT
AND FOR ANY COUNTERCLAIM THEREIN.

      
        
           

        

        
          25

          
            

          

        

        
           

        

      

      IN
WITNESS WHEREOF, each of the undersigned has caused this Guarantee and
Collateral Agreement to be duly executed and delivered as of the date first
above written.

       

      
        
          
            
              
                
                  
                    	 
      	
                            WEB.COM
      GROUP, INC.

                          
	 
      	 
      
	 
      	
                            By: 

                          	 
      
	 
      	 
      	
                            Name:

                          
	 
      	 
      	
                            Title:

                          
	 
      	 
      
	 
      	
                            WEB.COM
      HOLDING COMPANY, INC.

                          
	 
      	 
      
	 
      	
                            By:

                          	 
      
	 
      	 
      	
                            Name:

                          
	 
      	 
      	
                            Title:

                          
	 
      	 
      
	 
      	
                            REGISTER.COM,
      INC.

                          
	 
      	 
      
	 
      	
                            By:

                          	 
      
	 
      	 
      	
                            Name:

                          
	 
      	 
      	
                            Title:

                          
	 
      	 
      
	 
      	
                            RCOM
      HOLDING INC.

                          
	 
      	 
      
	 
      	
                            By:

                          	 
      
	 
      	 
      	
                            Name:

                          
	 
      	 
      	
                            Title:

                          
	 
      	 
      
	 
      	
                            RANGER
      HOLDCO LLC

                          
	 
      	 
      
	 
      	
                            By:

                          	 
      
	 
      	 
      	
                            Name:

                          
	 
      	 
      	
                            Title:

                          

                  

                

              

            

          

        

      

       

      
        
           

        

        
          26

          
            

          

        

        
           

        

      

       

      
        
          
            	 
      	
                    ROYAL
      BANK OF CANADA, as Administrative Agent

                  
	 
      	 
      	 
      
	 
      	
                    By: 

                  	 
      
	 
      	 
      	
                    Name:

                  
	 
      	 
      	
                    Title:

                  

          

        

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Schedule
1

       

      NOTICE
ADDRESSES OF GUARANTORS

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      Schedule
2

       

      DESCRIPTION
OF INVESTMENT PROPERTY

       

      Membership
Interests:

       

      
        
          	
                  Grantor

                	 
      	
                  Issuer

                	 
      	
                  Certificate No.

                	 
      	
                  No. and Percentage of

                  Ownership

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      

        

      

       

      Pledged
Stock:

       

      
        
          	
                  Issuer

                	 
      	
                  Class of Stock

                	 
      	
                  Stock Certificate No.

                	 
      	
                  No. of Shares

                
	 
      	 
      	 
      	 
      	 
      	 
      	 
      

        

      

       

      Equity
Investments:

       

      Pledged
Notes:

       

      
        	
                Issuer

              	 
      	 
      	
                Payee

              	 
      	
                Principal Amount

              
	 
      	 
      	 
      	 
      	 
      	 
      

      

       

      Promissory
Notes, Chattel Paper and other Evidence of Indebtedness:

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Schedule
3

       

      FILINGS
AND OTHER ACTIONS

       

      REQUIRED
TO PERFECT SECURITY INTERESTS

       

      Uniform Commercial Code
Filings

       

      
        	
                Loan Party

              	 
      	
                Filing Office

              
	 
      	 
      	 
      
	
                Web.com
      Group, Inc.

              	 
      	
                Secretary
      of State of the State of Delaware

              
	 
      	 
      	 
      
	
                Web.com
      Holding Company, Inc.

              	 
      	
                Secretary
      of State of the State of Delaware

              
	 
      	 
      	 
      
	
                Rcom
      Holding Inc.

              	 
      	
                Secretary
      of State of the State of Delaware

              
	 
      	 
      	 
      
	
                Register.com,
      Inc.

              	 
      	
                Secretary
      of State of the State of Delaware

              
	 
      	 
      	 
      
	
                Ranger
      Holdco LLC

              	
                  

              	
                Secretary
      of State of the State of Delaware

              

      

      

      Patent, Trademark and
Copyright Filings

       

      
        	
                 
      

              	
                1.

              	
                Filing
      of Grant of Security Interest in Copyright Rights between the
      Administrative Agent and [GRANTOR] with the United States Copyright
      Office.

              

      

       

      
        	
                 
      

              	
                2.

              	
                Filing
      of Grant of Security Interest in Patent Rights between the Administrative
      Agent and [GRANTOR] with the United States Patent and Trademark
      Office.

              

      

       

      
        	
                 
      

              	
                3.

              	
                Filing
      of Grant of Security Interest in Trademark Rights between the
      Administrative Agent and [GRANTOR] with the United States Patent and
      Trademark Office.

              

      

       

      Other
Actions

       

      [Describe
other actions to be taken]

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Schedule
4

       

      LOCATION
OF JURISDICTION OF ORGANIZATION AND CHIEF EXECUTIVE OFFICE

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                      Grantor

                                    	 	
                                      Legal Name(s);

                                      Trade Names; etc.

                                    	 	
                                      Jurisdiction of

                                      Organization

                                    	 	
                                      Type of

                                      Organization

                                    	 	
                                      Location of

                                      Chief Executive

                                      Office

                                    	 	
                                      Change of Identity or

                                      Legal Structure

                                    
	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Schedule
5

       

      LOCATIONS
OF INVENTORY AND EQUIPMENT

       

      
        
          
            	
                    Grantor

                  	 	
                    Locations

                  
	 
      	 	 
      

          

        

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Schedule
6

       

      COPYRIGHTS
AND COPYRIGHT LICENSES

       

      PATENTS
AND PATENT LICENSES

       

      TRADEMARKS
AND TRADEMARK LICENSES

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Schedule
7

       

      COMMERCIAL
TORT CLAIMS

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      Schedule
8

       

      ACCOUNTS

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      ACKNOWLEDGEMENT
AND CONSENT

       

      The
undersigned hereby acknowledges receipt of a copy of the Guarantee and
Collateral Agreement dated as of July [  ], 2010 (as amended,
restated, supplemented, or otherwise modified from time to time, the “Agreement”), made by
the Grantors parties thereto for the benefit of Royal Bank of Canada, as
Administrative Agent.  The undersigned agrees for the benefit of the
Administrative Agent and the Lenders as follows:

       

      The
undersigned will be bound by the terms of the Agreement and will comply with
such terms insofar as such terms are applicable to the undersigned.

       

      The
undersigned will notify the Administrative Agent promptly in writing of the
occurrence of any of the events described in Section 5.8(a) of the
Agreement.

       

      The terms
of Sections 6.3(c) and 6.7 of the Agreement shall apply to it, mutatis mutandis, with
respect to all actions that may be required of it pursuant to Section 6.3(c) or
6.6 of the Agreement.

       

      
        
          
            
              
                
                  	 
      	
                          [NAME
      OF ISSUER]

                        
	 
      	 
      
	 
      	
                          By: 

                        	 
      
	 
      	 
      	
                          Name:

                        
	 
      	 
      	
                          Title:

                        
	 
      	 
      
	 
      	
                          Address
      for Notices:

                        
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	
                          Fax:

                        

                

              

            

          

        

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Annex 1
to

      Guarantee and Collateral
Agreement

       

      ASSUMPTION
AGREEMENT, dated as of ________________, 200_, made by
______________________________ (the “Additional Grantor”),
in favor of Royal Bank of Canada, as administrative agent (in such capacity, the
“Administrative
Agent”) for the banks and other financial institutions or entities (the
“Lenders”)
parties to the Credit Agreement referred to below.  All capitalized terms
not defined herein shall have the meaning ascribed to them in such Credit
Agreement.

       

      WITNESSETH
:

       

      WHEREAS,
Web.com Group, Inc. (the “Borrower”), the
Lenders and the Administrative Agent have entered into a Credit Agreement, dated
as of July [  ], 2010 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit
Agreement”);

       

      WHEREAS,
in connection with the Credit Agreement, the Borrower and certain of its
Affiliates (other than the Additional Grantor) have entered into the Guarantee
and Collateral Agreement, dated as of July [  ], 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Guarantee and Collateral
Agreement”) in favor of the Administrative Agent for the ratable benefit
of the Secured Parties;

       

      WHEREAS,
the Credit Agreement requires the Additional Grantor to become a party to the
Guarantee and Collateral Agreement; and

       

      WHEREAS,
the Additional Grantor has agreed to execute and deliver this Assumption
Agreement in order to become a party to the Guarantee and Collateral
Agreement;

       

      NOW,
THEREFORE, IT IS AGREED:

       

      1. 
Guarantee and
Collateral Agreement.  By executing and delivering this Assumption
Agreement, the Additional Grantor, as provided in Section 8.14 of the Guarantee
and Collateral Agreement, hereby becomes a party to the Guarantee and Collateral
Agreement as a Grantor thereunder with the same force and effect as if
originally named therein as a Grantor and, without limiting the generality of
the foregoing, hereby expressly assumes all obligations and liabilities of a
Grantor thereunder.  The information set forth in Annex 1-A hereto is
hereby added to the information set forth in the Schedules to the Guarantee and
Collateral Agreement.  The Additional Grantor hereby represents and
warrants that each of the representations and warranties contained in Section 4
of the Guarantee and Collateral Agreement is true and correct on and as the date
hereof (after giving effect to this Assumption Agreement) as if made on and as
of such date.

       

      2. 
Governing
Law.  THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW
YORK.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      IN
WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly
executed and delivered as of the date first above written.

       

      
        
          
            	 
      	
                    [ADDITIONAL
      GRANTOR]

                  
	 
      	 
      
	 
      	
                    By: 

                  	 
      
	 
      	 
      	
                    Name:

                  
	 
      	 
      	
                    Title:

                  

          

        

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Annex 1-A
to

      Assumption
Agreement

       

      Supplement to Schedule
1

       

      Supplement to Schedule
2

       

      Supplement to Schedule
3

       

      Supplement to Schedule
4

       

      Supplement to Schedule
5

       

      Supplement to Schedule
6

       

      Supplement to Schedule
7

       

      Supplement to Schedule
8

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      EXHIBIT
B

       

      FORM
OF

       

      COMPLIANCE
CERTIFICATE

       

      WEB.COM GROUP,
INC.

       

      This
Compliance Certificate (this “Certificate”) is
delivered pursuant to Section 6.2(b) of the Credit Agreement, dated as of July
30, 2010 (as amended, restated, supplemented or otherwise modified from time to
time, the “Credit
Agreement”), among Web.com Group, Inc. (the “Borrower”), the
Lenders party thereto, the Syndication Agent named therein and Royal Bank of
Canada, as administrative agent (in such capacity, the “Administrative
Agent”).  Unless otherwise defined herein, terms defined in the
Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement.

       

      1. 
    I am the duly elected, qualified and acting [Chief
Financial Officer] of the Borrower.

       

      2. 
    I have reviewed and am familiar with the contents of
this Certificate.

       

      3. 
    I have reviewed the terms of the Credit Agreement and
the Loan Documents and have made or caused to be made under my supervision, a
review in reasonable detail of the transactions and condition of the Borrower
and the other Loan Parties during the accounting period covered by the financial
statements delivered on the date hereof pursuant to Section 6.1 of the Credit
Agreement (the “Financial
Statements”).  Such review did not disclose the existence during or
at the end of the accounting period covered by the Financial Statements, and I
have no knowledge of the existence, as of the date of this Certificate, of any
condition or event which constitutes a Default or Event of Default[, except as
set forth below].  To the best of my knowledge, each Loan Party during such
period has observed or performed all of its covenants and other agreements, and
satisfied every condition contained in the Credit Agreement and the other Loan
Documents to which it is a party to be observed, performed or satisfied by
it.

       

      4. 
     Attached hereto as Attachment 1 are the
computations showing compliance with the covenants set forth in Section 7.1 of
the Credit Agreement.

       

      5. 
    Attached hereto as Attachment 2 is the schedule setting
forth any differences in the financial condition and results of operations of
the Borrower and its Subsidiaries for the relevant fiscal quarter and for the
period from the beginning of the then current fiscal year to the end of such
fiscal quarter from the portion of the Projections (including, for the avoidance
of doubt, the budget) covering such periods.

       

      6. 
    [To the extent not previously disclosed to the
Administrative Agent, attached is (1) a description of any change in the
jurisdiction of organization of any Loan Party, (2) a list of any Intellectual
Property acquired by any Loan Party and (3) a description of any Person that has
become a Borrower or any of its Subsidiaries, in each case since the [Closing
Date] [date of the most recent report delivered].]

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      IN
WITNESS WHEREOF, I have executed this Certificate this _____ day of ____,
20___.

       

      
        
          	 
      	 
      
	 
      	
                  Name:

                
	 
      	
                  Title:

                

        

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    Attachment
1

    to
Compliance Certificate

     

    The
information described herein is for the period ended ______, ____, and pertains
to the period from _________, ____ to ________________ __, ____ (as
applicable).

     

    [Set
forth Covenant Calculations]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Attachment
2

    to
Compliance Certificate

     

    The
information described herein is for the period ended ______, ____, and pertains
to the period from _________, ____ to ________________ __, ____ (as
applicable).

     

    [Set
forth differences and
the portion of the Projections covering such periods]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
C-1

     

    FORM
OF

    CLOSING
CERTIFICATE

     

    WEB.COM GROUP,
INC.

     

    Pursuant
to Section 5.1(g) of the Credit Agreement, dated as of July 30, 2010 (the “Credit Agreement”;
terms defined therein being used herein as therein defined),
among  Web.com Group, Inc. (the “Borrower”), the
Lenders party thereto, the Syndication Agent named therein and Royal Bank of
Canada, as administrative agent (in such capacity, the “Administrative
Agent”), the undersigned [INSERT TITLE OF OFFICER] of the Borrower (the
“Certifying Loan
Party”) hereby certifies as follows:

     

    1. 
    The representations and warranties of the Certifying
Loan Party set forth in each of the Loan Documents to which it is a party or
which are contained in any certificate furnished by or on behalf of the
Certifying Loan Party pursuant to any of the Loan Documents to which it is a
party are true and correct in all material respects on and as of the date hereof
with the same effect as if made on the date hereof, except for representations
and warranties expressly stated to relate to a specific earlier date, in which
case such representations and warranties were true and correct in all material
respects as of such earlier date.

     

    2. 
    [NAME OF SECRETARY] is the duly elected and qualified
Corporate Secretary of the Certifying Loan Party and the signature set forth for
such officer below is such officer’s true and genuine signature, and such
officer is duly authorized to execute and deliver on behalf of the Certifying
Loan Party each Loan Document to be delivered by the Certifying Loan
Document.

     

    3. 
    No Default or Event of Default has occurred and is
continuing as of the date hereof or after giving effect to the Loans to be made
on the date hereof and the use of proceeds thereof.

     

    4. 
    The conditions precedent set forth in Section 5.1 of the
Credit Agreement have been satisfied as of the Closing Date.

     

    The
undersigned Corporate Secretary of the Certifying Loan Party certifies as
follows:

     

    1.      Attached hereto as Annex 1 is a true and
complete copy of resolutions duly adopted by the Board of Directors of the
Certifying Loan Party on [  ], 2010; such resolutions have not in any
way been amended, modified, revoked or rescinded, have been in full force and
effect since their adoption to and including the date hereof and are now in full
force and effect and are the only corporate proceedings of the Certifying Loan
Party now in force relating to or affecting the matters referred to
therein.

     

    2. 
    Attached hereto as Annex 2 is a true and
complete copy of the By-Laws of the Certifying Loan Party as in effect on the
date hereof.1

    

      
        

      

    

    
      
        1 Expect to attach
certified charter.

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    3. 
    Attached hereto as Annex 3 is a true and
complete copy of the Certificate of Incorporation of the Certifying Loan Party
as in effect on the date hereof.

     

    4. 
    Attached hereto as Annex 4 is a list of
the duly elected and qualified officers of the Certifying Loan Party holding the
offices indicated next to their respective names, and the signatures appearing
opposite their respective names are the true and genuine signatures of such
officers, and each of such officers is duly authorized to execute and deliver on
behalf of the Certifying Loan Party each of the Loan Documents to which it is a
party and any certificate or other document to be delivered by the Certifying
Loan Party pursuant to the Loan Documents to which it is a party.

     

    5. 
    Attached hereto as Annex 5 is a true,
complete and correct copy of the “short-form” certificate of good standing of
the Certifying Loan Party issued by the Secretary of State of the State of
Delaware.

     

    6. 
    There are no liquidation or dissolution proceedings
pending or to my knowledge threatened against the Certifying Loan Party, nor to
my knowledge has any other event occurred adversely affecting or threatening the
corporate existence of the Certifying Loan Party.

     

    IN
WITNESS WHEREOF, the undersigned have hereunto set our names as of the date set
forth below.

     

    
      
        
          
            
              	 
      	 
      	 
      
	
                      Name:

                    	
                      Name:

                    
	
                      Title:

                    	
                      Title:  Corporate
      Secretary

                    

            

          

        

      

    

     

    Date:  July
__, 2010

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Annex 1

     

    Resolutions

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Annex 2

     

    By-Laws

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Annex 3

     

    Certificate
of Incorporation

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Annex 4

     

    Incumbency

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  Name

                                	 	
                                  Office

                                	 	
                                  Signature

                                
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Annex 5

     

    Certificate
of Good Standing

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
C-2

     

    FORM
OF

    CLOSING
CERTIFICATE

     

    [Loan
Party]

     

    Pursuant
to Section 5.1(h) of the Credit Agreement, dated as of July 30, 2010 (the “Credit Agreement”;
terms defined therein being used herein as therein defined),
among  Web.com Group, Inc. (the “Borrower”), the
Lenders party thereto, the Syndication Agent named therein and Royal Bank of
Canada, as administrative agent (in such capacity, the “Administrative
Agent”), the undersigned [INSERT TITLE OF OFFICER] of [INSERT NAME OF
LOAN PARTY] (the “Certifying Loan
Party”) hereby certifies as follows:

     

    1. 
    The representations and warranties of the Certifying
Loan Party set forth in each of the Loan Documents to which it is a party or
which are contained in any certificate furnished by or on behalf of the
Certifying Loan Party pursuant to any of the Loan Documents to which it is a
party are true and correct in all material respects on and as of the date hereof
with the same effect as if made on the date hereof, except for representations
and warranties expressly stated to relate to a specific earlier date, in which
case such representations and warranties were true and correct in all material
respects as of such earlier date.

     

    2. 
    [NAME OF SECRETARY] is the duly elected and qualified
Corporate Secretary of the Certifying Loan Party and the signature set forth for
such officer below is such officer’s true and genuine signature, and such
officer is duly authorized to execute and deliver on behalf of the Certifying
Loan Party each Loan Document to be delivered by the Certifying Loan
Document.

     

    The
undersigned Corporate Secretary of the Certifying Loan Party certifies as
follows:

     

    1.      There are no liquidation
or dissolution proceedings pending or to my knowledge threatened against the
Certifying Loan Party, nor has any other event occurred adversely affecting or
threatening the continued existence of the Certifying Loan
Party.

     

    2. 
    Attached hereto as Annex 5 is a true,
complete and correct copy of the “short-form” certificate of good standing of
the Certifying Loan Party issued by the Secretary of State of the State of
Delaware

     

    3. 
    Attached hereto as Annex 1 is a true and
complete copy of resolutions duly adopted by the Board of Directors of the
Certifying Loan Party on [  ], 2010; such resolutions have not in any
way been amended, modified, revoked or rescinded, have been in full force and
effect since their adoption to and including the date hereof and are now in full
force and effect and are the only corporate proceedings of the Certifying Loan
Party now in force relating to or affecting the matters referred to
therein.

     

    4. 
    Attached hereto as Annex 2 is a true and
complete copy of the By-Laws (or equivalent document) of the Certifying Loan
Party as in effect on the date hereof.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    5. 
    Attached hereto as Annex 3 is a true and
complete copy of the Certificate of Incorporation of the Certifying Loan Party
as in effect on the date hereof.2

     

    6. 
    Attached hereto as Annex 4 is a list of
the duly elected and qualified officers of the Certifying Loan Party holding the
offices indicated next to their respective names, and the signatures appearing
opposite their respective names are the true and genuine signatures of such
officers, and each of such officers is duly authorized to execute and deliver on
behalf of the Certifying Loan Party each of the Loan Documents to which it is a
party and any certificate or other document to be delivered by the Certifying
Loan Party pursuant to the Loan Documents to which it is a
party:

     

    IN
WITNESS WHEREOF, the undersigned have hereunto set our names as of the date set
forth below.

     

    
      
        
          
            	 
      	 
      	 
      
	
                    Name:

                  	 
      	
                    Name:

                  
	
                    Title:

                  	 
      	
                    Title:  Corporate
      Secretary

                  

          

        

      

    

     

    Date:  July
__, 2010

    

      
        

    

    
      
        
          	
                  2 

                	
                  Expect
      to attach certified charter, which we understand might not be possible for
      Spanish and Dutch entities.

                

        

      

      

      
        
          
             

          

          
            
            

            
              

            

          

          
             

          

        

      

       

      Annex
1

    

     

    Resolutions

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Annex 2

     

    By-Laws

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Annex 3

     

    Certificate
of Incorporation

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Annex 4

     

    Incumbency

     

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Name

                              	 	
                                Office

                              	 	
                                Signature

                              
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Annex 4

     

    Certificate
of Good Standing

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
D

     

    FORM
OF

    ASSIGNMENT
AND ASSUMPTION

     

    Reference
is made to the Credit Agreement, dated as of  July 30, 2010 (as
amended, restated, supplemented or otherwise modified from time to time, the
“Credit
Agreement”), among Web.com Group, Inc. (the “Borrower”), the
Lenders party thereto, the Syndication Agent named therein and Royal Bank of
Canada, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).  Unless otherwise defined herein, terms defined in the
Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement.

     

    The
Assignor identified on Schedule l hereto (the “Assignor”) and the
Assignee identified on Schedule l hereto (the “Assignee”) agree as
follows:

     

    1. 
    The Assignor hereby irrevocably sells and assigns to the
Assignee without recourse to the Assignor, and the Assignee hereby irrevocably
purchases and assumes from the Assignor without recourse to the Assignor, as of
the Effective Date (as defined below), the interest described in Schedule 1
hereto (the “Assigned
Interest”) in and to the Assignor’s rights and obligations under the
Credit Agreement with respect to those credit facilities contained in the Credit
Agreement as are set forth on Schedule 1 hereto (individually, an “Assigned Facility”;
collectively, the “Assigned
Facilities”), in a principal amount for each Assigned Facility as set
forth on Schedule 1 hereto.

     

    2. 
    The Assignor (a) makes no representation or warranty and
assumes no responsibility with respect to any statements, warranties or
representations made in or in connection with the Credit Agreement or with
respect to the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Credit Agreement, any other Loan Document or any
other instrument or document furnished pursuant thereto, other than that the
Assignor has not created any adverse claim upon the interest being assigned by
it hereunder and that such interest is free and clear of any such adverse claim
and (b) makes no representation or warranty and assumes no responsibility with
respect to the financial condition of the Borrower, any of its Affiliates or any
other obligor or the performance or observance by the Borrower, any of its
Affiliates or any other obligor of any of their respective obligations under the
Credit Agreement or any other Loan Document or any other instrument or document
furnished pursuant hereto or thereto.

     

    3. 
    The Assignee (a) represents and warrants that it is
legally authorized to enter into this Assignment and Assumption; (b) confirms
that it has received a copy of the Credit Agreement, together with copies of the
financial statements delivered pursuant to Section 6.1 thereof and such other
documents and information as it has deemed appropriate to make its own credit
analysis and decision to enter into this Assignment and Assumption; (c) agrees
that it will, independently and without reliance upon the Assignor, the Agents
or any Lender and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or
not taking action under the Credit Agreement, the other Loan Documents or any
other instrument or document furnished pursuant hereto or thereto; (d) appoints
and authorizes the Agents to take such action as agent on its behalf and to
exercise such powers and discretion under the Credit Agreement, the other Loan
Documents or any other instrument or document furnished pursuant hereto or
thereto as are delegated to the Agents by the terms thereof, together with such
powers as are incidental thereto; and (e) agrees that it will be bound by the
provisions of the Credit Agreement and will perform in accordance with its terms
all the obligations which by the terms of the Credit Agreement are required to
be performed by it as a Lender including, if it is organized under the laws of a
jurisdiction outside the United States, its obligation pursuant to Section
2.19(e) of the Credit Agreement.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    4. 
    The effective date of this Assignment and Assumption
shall be the Effective Date of Assignment described in Schedule 1 hereto (the
“Effective
Date”).  Following the execution of this Assignment and Assumption,
it will be delivered to the Administrative Agent for acceptance by it and
recording by the Administrative Agent pursuant to the Credit Agreement,
effective as of the Effective Date (which shall not, unless otherwise agreed to
by the Administrative Agent, be earlier than five Business Days after the date
of such acceptance and recording by the Administrative Agent).

     

    5. 
    Upon such acceptance and recording, from and after the
Effective Date, the Administrative Agent shall make all payments in respect of
the Assigned Interest (including payments of principal, interest, fees and other
amounts) to the Assignee whether such amounts have accrued prior to the
Effective Date or accrue subsequent to the Effective Date.  The Assignor
and the Assignee shall make all appropriate adjustments in payments by the Agent
for periods prior to the Effective Date or with respect to the making of this
assignment directly between themselves.

     

    6. 
    From and after the Effective Date, (a) the Assignee
shall be a party to the Credit Agreement and, to the extent provided in this
Assignment and Assumption, have the rights and obligations of a Lender
thereunder and under the other Loan Documents and shall be bound by the
provisions thereof and (b) the Assignor shall, to the extent provided in this
Assignment and Assumption, relinquish its rights and be released from its
obligations under the Credit Agreement.

     

    7. 
    This Assignment and Assumption shall be governed by and
construed in accordance with the laws of the State of New York.

     

    IN
WITNESS WHEREOF, the parties hereto have caused this Assignment and Assumption
to be executed as of the date first above written by their respective duly
authorized officers on Schedule 1 hereto.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Schedule
1

    to
Assignment and Assumption with respect to

    the
Credit Agreement, dated as of July 30, 2010,

    among
Web.com Group, Inc. (the “Borrower”),

    the
Lenders party thereto, the Syndication Agent named therein

    and Royal
Bank of Canada, as Administrative Agent

     

    Name of
Assignor: _______________________

     

    Name of
Assignee: _______________________

     

    Effective
Date of Assignment: _________________

     

    
      
        
          
            
              
                
                  	
                          Credit Facility Assigned

                        	 	
                          Principal

                          Amount Assigned

                        	 	 	
                          Commitment Percentage
    Assigned

                        	 
	 	 	 	 	 	 	 
	 	 	$	______________	 	 	 	___.___________	%

                

              

            

          

        

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                [Name
      of Assignee]

                              	 
      	
                                [Name
      of Assignor]

                              
	 
      	 
      	 
      
	
                                By:

                              	 
      	 
      	
                                By:

                              	 
      
	 
      	
                                Title:

                              	 
      	 
      	
                                Title:

                              
	 
      	 
      	 
      
	
                                Accepted
      for Recordation in the Register:

                              	 
      	
                                Required
      Consents (if required by Section 10.6

                                of
      the Credit Agreement):

                              
	 
      	 
      	 
      
	
                                _________________________________________,
      as

                              	 
      	
                                Web.com
      Group, Inc.

                              
	
                                Administrative
      Agent

                              	 
      	 
      
	 
      	 
      	 
      
	
                                By:

                              	 
      	 
      	
                                By:

                              	 
      
	Title:	 
      	Title:
	 
      	 
      	 
      
	 
      	 
      	
                                __________________________________________,
      as

                              
	 
      	 
      	
                                Administrative
      Agent

                              
	 
      	 
      	 
      
	 
      	 
      	
                                By:

                              	 
      
	 
      	 
      	Title:
	 
      	 
      	 
      
	 
      	 
      	
                                __________________________________________,
      as

                              
	 
      	 
      	
                                Issuing
      Lender

                              
	 
      	 
      	 
      
	 
      	 
      	
                                By:

                              	 
      
	 
      	 
      	 
      	
                                Title:

                              

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
E-1

     

    FORM OF
EXEMPTION CERTIFICATE

     

    (For
Non-U.S. Lenders That Are Not Partnerships for U.S. Federal Income Tax
Purposes)

     

    Reference
is made to the Credit Agreement, dated as of July 30, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among Web.com Group, Inc. (the “Borrower”), the
Lenders party thereto, the Syndication Agent named therein and Royal Bank of
Canada, as administrative agent (in such capacity, the “Administrative
Agent”).  Unless otherwise defined herein, terms defined in the
Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement.  ______________________ (the “Non-U.S. Lender”) is
providing this certificate pursuant to Section 2.19(e) of the Credit
Agreement.  The Non-U.S. Lender hereby represents and warrants
that:

     

    1. 
The Non-U.S. Lender is the sole record and beneficial owner of the Loans in
respect of which it is providing this certificate.

     

    2. 
The Non-U.S. Lender is not a “bank” for purposes of Section 881(c)(3)(A) of the
Internal Revenue Code of 1986, as amended (the “Code”).  In this
regard, the Non-U.S. Lender further represents and warrants that:

     

    (a) the
Non-U.S. Lender is not subject to regulatory or other legal requirements as a
bank in any jurisdiction; and

     

    (b) the
Non-U.S. Lender has not been treated as a bank for purposes of any tax,
securities law or other filing or submission made to any Governmental Authority,
any application made to a rating agency or qualification for any exemption from
tax, securities law or other legal requirements.

     

    3. 
The Non-U.S. Lender is not a 10-percent shareholder of the Borrower within the
meaning of Section 881(c)(3)(B) of the Code.

     

    4. 
The Non-U.S. Lender is not a controlled foreign corporation receiving interest
from a related person within the meaning of Section 881(c)(3)(C) of the
Code.

     

    5. 
No payments in connection with any Loan Document are effectively connected with
the undersigned’s conduct of a U.S. trade or business.

     

    The
undersigned has furnished Administrative Agent and the Borrower with a
certificate of its non-U.S. person status on Internal Revenue Service Form
W-8BEN.  By executing this certificate, the undersigned agrees that (1) if
the information provided on this certificate changes, the undersigned shall
promptly so inform the Borrower and the Administrative Agent in writing and (2)
the undersigned shall furnish the Borrower and the Administrative Agent a
properly completed and currently effective certificate prior to the next payment
date following such change for any payment to the undersigned under the Loan
Documents.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the undersigned has duly executed this
certificate.

     

    
      
        	 
      	
                [NAME
      OF NON-U.S. LENDER]

              
	 
      	 
      	 
      
	 
      	
                By:

              	 
      
	 
      	 
      	
                Name:

              
	 
      	 
      	
                Title:

              

      

    

     

    Date:  ____________________

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
E-2

     

    FORM OF
EXEMPTION CERTIFICATE

     

    (For
Non-U.S. Lenders That Are Partnerships for U.S. Federal Income Tax
Purposes)

     

    Reference
is made to the Credit Agreement, dated as of July 30, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among Web.com Group, Inc. (the “Borrower”), the
Lenders party thereto, the Syndication Agent named therein and Royal Bank of
Canada, as administrative agent (in such capacity, the “Administrative
Agent”).  Unless otherwise defined herein, terms defined in the
Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement.  ______________________ (the “Non-U.S. Lender”) is
providing this certificate pursuant to Section 2.19(e) of the Credit
Agreement.  The Non-U.S. Lender hereby represents and warrants
that:

     

    1. 
The Non-U.S. Lender is the sole record owner of the Loans in respect of which it
is providing this certificate.

     

    2. 
The Non-U.S. Lender’s partners/members are the sole beneficial owners of such
Loans.

     

    3. 
Neither the Non-U.S. Lender nor any of its partners/members is a “bank” for
purposes of Section 881(c)(3)(A) of the Internal Revenue Code of 1986, as
amended (the “Code”).  In this
regard, the Non-U.S. Lender further represents and warrants that:

     

    (a) none
of the Non-U.S. Lender’ s partners/members is subject to regulatory or other
legal requirements as a bank in any jurisdiction; and

     

    (b) none
of the Non-U.S. Lender’s partners/members has been treated as a bank for
purposes of any tax, securities law or other filing or submission made to any
Governmental Authority, any application made to a rating agency or qualification
for any exemption from tax, securities law or other legal
requirements.

     

    4. 
None of the Non-U.S. Lender’s partners/members is a 10-percent shareholder of
the Borrower within the meaning of Section 881(c)(3)(B) of the
Code.

     

    5. 
Non of the Non-U.S. Lender’s partners/members is a controlled foreign
corporation receiving interest from a related person within the meaning of
Section 881(c)(3)(C) of the Code.

     

    6. 
No payments in connection with any Loan Document are effectively connected with
the undersigned’s or its partners/members’ conduct of a U.S. trade or
business.

     

    The
undersigned has furnished Administrative Agent and the Borrower with Internal
Revenue Service Form W-IMY accompanied by an Internal Revenue Service Form
W-8BEN from each of its partners/members claiming the portfolio interest
exemption.  By executing this certificate, the undersigned agrees that (1)
if the information provided on this certificate changes, the undersigned shall
promptly so inform the Borrower and the Administrative Agent in writing and (2)
the undersigned shall furnish the Borrower and the Administrative Agent a
properly completed and currently effective certificate prior to the next payment
date following such change for any payment to the undersigned under the Loan
Documents.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned has duly executed this
certificate.

     

    
      
        	 
      	
                [NAME
      OF NON-U.S. LENDER]

              
	 
      	 
      
	 
      	
                By:

              	 
      
	 
      	 
      	
                Name:

              
	 
      	 
      	
                Title:

              

      

    

    

    
      Date:  ____________________

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
E-3

     

    FORM OF
EXEMPTION CERTIFICATE

     

    (For
Non-U.S. Participants That Are Not Partnerships for U.S. Federal Income Tax
Purposes)

     

    Reference
is made to the Credit Agreement, dated as of July 30, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among Web.com Group, Inc. (the “Borrower”), the
Lenders party thereto, the Syndication Agent named therein and Royal Bank of
Canada, as administrative agent (in such capacity, the “Administrative
Agent”).  Unless otherwise defined herein, terms defined in the
Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement.  ______________________ (the “Non-U.S. Lender”) is
providing this certificate pursuant to Section 2.19(e) of the Credit
Agreement.  The Non-U.S. Lender hereby represents and warrants
that:

     

    1. 
The Non-U.S. Lender is the sole record and beneficial owner of the participation
in respect of which it is providing this certificate.

     

    2. 
The Non-U.S. Lender is not a “bank” for purposes of Section 881(c)(3)(A) of the
Internal Revenue Code of 1986, as amended (the “Code”).  In this
regard, the Non-U.S. Lender further represents and warrants that:

     

    (a) the
Non-U.S. Lender is not subject to regulatory or other legal requirements as a
bank in any jurisdiction; and

     

    (b) the
Non-U.S. Lender has not been treated as a bank for purposes of any tax,
securities law or other filing or submission made to any Governmental Authority,
any application made to a rating agency or qualification for any exemption from
tax, securities law or other legal requirements.

     

    3. 
The Non-U.S. Lender is not a 10-percent shareholder of the Borrower within the
meaning of Section 881(c)(3)(B) of the Code.

     

    4. 
The Non-U.S. Lender is not a controlled foreign corporation receiving interest
from a related person within the meaning of Section 881(c)(3)(C) of the
Code.

     

    5. 
No payments in connection with any Loan Document are effectively connected with
the undersigned’s conduct of a U.S. trade or business.

     

    The
undersigned has furnished its participating Non-U.S. Lender with a certificate
of its non-U.S. person status on Internal Revenue Service Form W-8BEN.  By
executing this certificate, the undersigned agrees that (1) if the information
provided on this certificate changes, the undersigned shall promptly so inform
such Non-U.S. Lender in writing and (2) the undersigned shall furnish such
Non-U.S. Lender a properly completed and currently effective certificate prior
to the next payment date following such change for any payment to the
undersigned under the Loan Documents.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the undersigned has duly executed this
certificate.

     

    
      
        	 
      	
                [NAME
      OF NON-U.S. LENDER]

              
	 
      	 
      
	 
      	
                By:

              	 
      
	 
      	 
      	
                Name:

              
	 
      	 
      	
                Title:

              

      

    

     

    Date:  ____________________

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
E-4

     

    FORM OF
EXEMPTION CERTIFICATE

     

    (For
Non-U.S. Participants That Are Partnerships for U.S. Federal Income Tax
Purposes)

     

    Reference
is made to the Credit Agreement, dated as of July 30, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among Web.com Group, Inc. (the “Borrower”), the
Lenders party thereto, the Syndication Agent named therein and Royal Bank of
Canada, as administrative agent (in such capacity, the “Administrative
Agent”).  Unless otherwise defined herein, terms defined in the
Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement.  ______________________ (the “Non-U.S. Lender”) is
providing this certificate pursuant to Section 2.19(e) of the Credit
Agreement.  The Non-U.S. Lender hereby represents and warrants
that:

     

    1. 
The Non-U.S. Lender is the sole record owner of the participation in respect of
which it is providing this certificate.

     

    2. 
The partners/members of the Non-U.S. Lender are the sole beneficial owners of
such participation.

     

    3. 
Neither the Non-U.S. Lender nor any of its partners/members is a “bank” for
purposes of Section 881(c)(3)(A) of the Internal Revenue Code of 1986, as
amended (the “Code”).  In this
regard, the Non-U.S. Lender further represents and warrants that:

     

    (a) None
of the partners/members of the Non-U.S. Lender is subject to regulatory or other
legal requirements as a bank in any jurisdiction; and

     

    (b) None
of the partners/members of the Non-U.S. Lender has been treated as a bank for
purposes of any tax, securities law or other filing or submission made to any
Governmental Authority, any application made to a rating agency or qualification
for any exemption from tax, securities law or other legal
requirements.

     

    4. 
None of the partners/members of the Non-U.S. Lender is a 10-percent shareholder
of the Borrower within the meaning of Section 881(c)(3)(B) of the
Code.

     

    5. 
None of the partners/members of the Non-U.S. Lender is a controlled foreign
corporation receiving interest from a related person within the meaning of
Section 881(c)(3)(C) of the Code.

     

    6. 
No payments in connection with any Loan Document are effectively connected with
the undersigned’s or its partners/members’ conduct of a U.S. trade or
business.

     

    The
undersigned has furnished its participating Non-U.S. Lender with Internal
Revenue Service Form W-IMY accompanied by an Internal Revenue Service Form
W-8BEN from each of its partners/members claiming the portfolio interest
exemption.  By executing this certificate, the undersigned agrees that (1)
if the information provided on this certificate changes, the undersigned shall
promptly so inform such Non-U.S. Lender in writing and (2) the undersigned shall
furnish such Non-U.S. Lender a properly completed and currently effective
certificate prior to the next payment date following such change for any payment
to the undersigned under the Loan Documents.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    IN
WITNESS WHEREOF, the undersigned has duly executed this
certificate.

     

    
      
        	 
      	
                [NAME
      OF NON-U.S. LENDER]

              
	 
      	 
      
	 
      	
                By:

              	 
      
	 
      	 
      	
                Name:

              
	 
      	 
      	
                Title:

              

      

    

    

    Date:  ____________________

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
F

     

    FORM OF
BORROWING NOTICE

     

    
      	
              To:

            	
              Royal
      Bank of Canada

            

    

    P.O. Box
50, 200 Bay Street

    Royal
Bank Plaza

    12th Floor,
South Tower

    Toronto,
Ontario

    M5J2W7

    Attention:  Manager,
Agency

    Telecopy:  (416)
842-4023

    Telephone:  [  ]

    

    Reference
is hereby made to the Credit Agreement, dated as of July 30, 2010 (as amended,
supplemented, restated or otherwise modified from time to time, the “Credit Agreement”;
unless otherwise defined herein, terms defined therein being used herein as
therein defined), among Web.com Group, Inc., a Delaware corporation (“Borrower”), the
several banks and other financial institutions or entities from time to time
party thereto (the “Lenders”), Royal Bank
of Canada, as administrative agent, and the other agents named
therein.

     

    Pursuant
to Section [2.2][2.5] of the Credit Agreement, the Borrower hereby gives notice
to the Administrative Agent that Loans of the type and amount set forth below be
made to it in the form of [Term Loans][Revolving Loans] on the date indicated
below:

     

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Type of Loan

                                (check one)

                              	 	
                                Interest

                                Period*

                              	 	
                                Amount**

                              	 	
                                Date of Loan***

                              
	 
      	 	 
      	 	 
      	 	 
      
	
                                ABR
      Loan

                              	 	
                                ______

                              	 	
                                _________

                              	 	
                                ____________

                              
	
                                Eurodollar
      Loan

                              	 	
                                ______

                              	 	
                                _________

                              	 	
                                ____________

                              

                      

                    

                  

                

              

            

          

        

      

    

     

    The
Borrower hereby requests that the proceeds of Loans described in this Borrowing
Notice be made available to it as follows:

    

      
        

      

    

    
      *      For
any Eurodollar Loan, one, two, three or six months (or, if agreed by all
applicable Lenders under the relevant Facility, nine or twelve
months).

    

      
      **    If
a Revolving Loan, (i) ABR Loans must be at least $500,000 or a whole multiple
thereof (or, if the then aggregate Available Revolving Commitments are less than
$500,000, such lesser amount) and (ii) Eurodollar Loans must be at least
$2,500,000 or a whole multiple of $500,000 in excess thereof.

    

      
      ***  At
least three (3) Business Days later if a Eurodollar Loan or one (1) Business Day
if an ABR Loan.

       

      
        
          
             

          

          
            
            

            
              

            

          

          
             

          

        

      

      

    

     [insert
transmittal instructions].

     

    The
undersigned Borrower hereby certifies that:

     

    1. 
         No Default or Event of
Default has occurred and is continuing either now or after giving effect to the
extension of credit described herein; and

     

    2. 
         All of the representations
and warranties set forth in the Credit Agreement and in the other Loan Documents
are true and correct in all material respects on and as of the date hereof as if
made on and as of the date hereof.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              	 
      	
                      WEB.COM
      GROUP, INC.

                    
	 
      	 
      
	 
      	
                      By:

                    	 
      
	 
      	 
      	
                      Name:

                    
	 
      	 
      	
                      Title:

                    
	 	 	 
	 	
                      Date:    __________________________

                    

            

          

        

      

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
G

     

    FORM OF
LOAN CONVERSION AND CONTINUATION NOTICE

     

    Pursuant
to that certain Credit Agreement, dated as of July 30, 2010 (as amended,
supplemented, restated or otherwise modified from time to time, the “Credit Agreement”;
unless otherwise defined herein, terms defined therein being used herein as
therein defined), among Web.com Group, Inc., a Delaware corporation (“Borrower”), the
several banks and other financial institutions or entities from time to time
party thereto (the “Lenders”), Royal Bank
of Canada, as administrative agent, and the other agents named therein, this
represents the Borrower’s request to convert or continue Loans originally dated
as of _________ __, ____ with an aggregate principal amount of $_____________
(the “Original
Borrowing”) as follows:

     

    1. 
          Effective Date of
conversion/continuation (which shall be a Business
Day):  __________________________________________________3

     

    2. 
          Amount of borrowing being
converted/continued:  $/US$______________

     

    3. 
          Nature of
conversion/continuation:

     

    
      	
               
      

            	
              [  ]
      a.

            	
              Conversion
      of ABR Loan to Eurodollar Loan

            

    

     

    Specify
portion of Original Borrowing to be allocated to such resulting Eurodollar Loan,
if applicable:$____________

    

    
      	
               
      

            	
              [  ]
      b.

            	
              Conversion
      of Eurodollar Loan to ABR Loan

            

    

     

    Specify
portion of Original Borrowing to be allocated to such resulting ABR Loan, if
applicable: $_______________

     

    
      
        	
              	
                [
       ]c.

              	
                Continuation
      of Eurodollar Loan

              

      

    

     

    Specify
portion of Original Borrowing to be allocated to such continuation of Eurodollar
Loan, if applicable: $_______________

     

    If
borrowings are being continued as or converted to Eurodollar Loans, the duration
of the new Interest Period (as contemplated by the definition of “Interest
Period” in the Credit Agreement) that commences on the conversion/ continuation
date:

    _______________  month(s)**

    

    Upon
delivery of this Loan Conversion Notice and upon effectiveness of the requested
continuation or conversion, as applicable, the Borrower shall be deemed to have
represented and warranted that the conditions to such conversion or
continuation, as applicable, specified in Section 2.12 of the Credit Agreement
have been satisfied.

    

      
        

    

    
      
        
          	
                  3

                	
                  For
      a conversion to ABR Loans, notice must be delivered to the Administrative
      Agent no later than 11:00 A.M, New York City time, on the Business Day
      preceding the proposed conversion.  For a conversion to Eurodollar
      Loans, notice must be delivered to the Administrative Agent no later than
      11:00 A.M, New York City time, on the third Business Day preceding the
      proposed conversion.

                

        

      

       

    

    
      
        
          	
                  **

                	
                  For
      any Eurodollar Loan, one, two, three or six months (or, if agreed by all
      applicable Lenders under the relevant Facility, nine or twelve
      months)

                

        

      

      

        
          
             

          

          
            
            

            
              

            

          

          
             

          

        

      

       

    

    Delivery
of an executed counterpart of this Loan Conversion Notice by facsimile or
electronic mail shall be as effective as delivery of an original executed
counterpart hereof.

     

    
      
        
          	
                  DATED:  ___________________

                	
                  WEB.COM
      GROUP, INC.

                
	 
      	 
      
	 
      	
                  By:

                	 
      
	 
      	 
      
	 
      	
                  Title:

                	 
      

        

      

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
H

    APPLICATION
FOR IRREVOCABLE STANDBY LETTER OF CREDIT

    

    
      	
              TO:

            	
              ROYAL BANK OF CANADA

            	 
      	
                L/C NO.

            	
                

            
	 
      	
              ONE LIBERTY PLAZA

            	 
      	
              (For Bank Use Only)

            
	 
      	
              NEW YORK, N.Y. 10006-1404

            	 
      	
                DATE:

            	
                

            
	 
      	
              Fax: (212) 428-3015

            	 
      	 
      

    

    

    Please
issue for our account an irrevocable Standby Letter of Credit as set forth below
by:

    

     ̈    Courier         ̈    Hand
delivery        o
Swift

    

    
      	
              Advising
      Bank

              (If
      blank, use correspondent bank)

               

              NONE

            	
              For
      Account of (Applicant)

               

               

               

            
	
              In
      Favor of  (Beneficiary)

               

               

               

               

            	
              Amount
      and Type of Currency

              ___________________________________________

              Amount
      in Words

               

              Drafts
      must be presented to Drawee’s counters at One Liberty

              Plaza  on
      or before expiration date

            

    

    

    Available
by Drafts at sight drawn on yourselves accompanied by the following
documents:

    

    
      	
               ̈

            	
              Issue
      as per the attached format

            

    

    

    
      	
               ̈

            	
              Beneficiary's
      signed statement worded as follows (kindly state exact wording that is to
      appear on the statement accompanying the draft).   
      ____________________________________________________________

            

    

    

    
      	
               ̈

            	
              Other
      documents: 
      _________________________________________________________________________

            

    

    

    
      
        	
                 ̈

              	
                Special
      instructions to be an integral part or this application (if necessary,
      attach addendum and sign in addition to this application). 
      ___________________________________________________________________

              
	 	 
	 	 

      

    

     

    At the
bank’s discretion, this Letter of Credit may be issued subject to the Uniform
Customs and Practice for Documentary Credits or the International Standby
Practices (ISP98) as in effect on the date of issuance.

    

    IN
CONSIDERATION OF THE ESTABLISHMENT OF THE CREDIT SUBSTANTIALLY AS APPLIED FOR
HEREIN, APPLICANT ACKNOWLEDGES AND AGREES TO BE BOUND BY THE TERMS AND
CONDITIONS DATED JULY 30 2010 AND THE TERMS AND CONDISITIONS OF THE CREDIT
AGREEMENT, DATED AS OF JULY 30, 2010, AMONG WEB,COM GROUP, INC., THE SEVERAL
LENDERS FROM TIME TO TIME PARTIES THERETO, WELLS FARGO BANK, NATIONAL
ASSOCIATION, AS SYNDICATION AGENT, AND ROYAL BANK OF CANADA, AS ADMINISTRATIVE
AGENT. IN THE EVENT OF A CONFLICT THE TERMS AND CONDITIONS OF THE CREDIT
AGREEMENT SHALL PEVAIL.

    

    
      
        	 
      	 
      
	 
      	 
      	
                (Print
      name of Applicant)

              
	 
      	 
      	 
      
	 
      	 
      	
                By:

              	 
      
	 
      	 
      	
                Title:

              
	 
      	 
      	
                Address:

              
	 
      	 
      
	 
      	 
      

      

    

     

    PLEASE
SIGN OFFICIALLY.  IF MORE THAN ONE APPLICANT, EACH SHOULD SIGN THE
APPLICATION.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
I-1

     

    [FORM
OF]

     

    TERM
LOAN NOTE

     

    $[                      ]

    July 30, 2010

    

    FOR VALUE RECEIVED, WEB.COM GROUP, INC., a Delaware corporation (“Borrower”), promises to
pay [], (“Payee”) or its registered
assigns, on or before July 30,
2015, the lesser of (a) [] ($[]) and
(b) the unpaid principal amount of all advances made by Payee to Borrower
as Term Loans under the Credit Agreement referred to below.

     

    Borrower
also promises to pay interest on the unpaid principal amount hereof, from the
date hereof until paid in full, at the rates and at the times which shall be
determined in accordance with the provisions of that certain Credit Agreement,
dated as of July 30,
2010 (as it may be amended, supplemented or otherwise modified, the “Credit Agreement”; the terms
defined therein and not otherwise defined herein being used herein as therein
defined), by and among BORROWER, as Borrower, the
Lenders party thereto from time to time, WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Syndication Agent, and ROYAL BANK OF CANADA, as
Administrative Agent.

     

    This Note
is one of the Notes issued pursuant to and entitled to the benefits of the
Credit Agreement, to which reference is hereby made for a more complete
statement of the terms and conditions under which the Term Loans evidenced
hereby were made and are to be repaid.

     

    All
payments of principal and interest in respect of this Note shall be made in
lawful money of the United States of America in same day funds at the Funding
Office of the Administrative Agent or at such other place as shall be designated
in writing for such purpose in accordance with the terms of the Credit
Agreement.  Unless and until an Assignment and Assumption effecting the
assignment or transfer of the obligations evidenced hereby shall have been
accepted by Administrative Agent and recorded in the Register, Borrower, each
Agent and the Lenders shall be entitled to deem and treat Payee as the owner and
holder of this Note and the obligations evidenced hereby.  Payee hereby
agrees, by its acceptance hereof, that before disposing of this Note or any part
hereof it will make a notation hereon of all principal payments previously made
hereunder and of the date to which interest hereon has been paid; provided, the
failure to make a notation of any payment made on this Note shall not limit or
otherwise affect the obligations of Borrower hereunder with respect to payments
of principal of or interest on this Note.

     

    This Note
is subject to mandatory prepayment and to prepayment at the option of Borrower,
each as provided in the Credit Agreement.

     

    Upon the
occurrence and during the continuance of an Event of Default, the unpaid balance
of the principal amount of this Note, together with all accrued and unpaid
interest thereon, may become, or may be declared to be, due and payable in the
manner, upon the conditions and with the effect provided in the Credit
Agreement.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    The terms
of this Note are subject to amendment only in the manner provided in the Credit
Agreement.

     

    No
reference herein to the Credit Agreement and no provision of this Note or the
Credit Agreement shall alter or impair the obligations of Borrower, which are
absolute and unconditional, to pay the principal of and interest on this Note at
the place, at the respective times, and in the currency herein
prescribed.

     

    Borrower
and any endorsers of this Note hereby consent to renewals and extensions of time
at or after the maturity hereof, without notice, and hereby waive diligence,
presentment, protest, demand notice of every kind and, to the full extent
permitted by law, the right to plead any statute of limitations as a defense to
any demand hereunder (except as expressly provided in the Credit Agreement and
the Loan Documents).

     

    [Signature
Page Follows]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    THIS NOTE
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK.

     

    
      
        
          
            	 
      	
                    WEB.COM
      GROUP, INC.

                  
	 
      	 
      	 
      
	 
      	
                    By:

                  	 
      
	 
      	
                    Name:

                  	 
      
	 
      	
                    Title:

                  	 
      

          

        

      

    

     

    [Signature
Page to [                             
] Term Loan Note]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    TRANSACTIONS
ON

    TERM LOAN
NOTE

    

    
      
        	
                
                  Date

                

              	 	
                
                  Amount of Loan

                  Made This Date

                

              	 	 	
                
                  Amount of Principal

                  Paid This Date

                

              	 	 	
                
                  Outstanding Principal

                  Balance This Date

                

              	 	 	
                
                  Notation

                  Made By

                

              	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

      

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    EXHIBIT
I-2

     

    [FORM
OF]

     

    REVOLVING
LOAN NOTE

     

    $[                      ]

    July 30, 2010

    

    FOR VALUE RECEIVED, WEB.COM GROUP, INC., a Delaware corporation (“Borrower”), promises to
pay [______________], (“Payee”) or its registered
assigns, on or before July 30,
2015, the lesser of (a) [_______________________] ($[________]) and
(b) the unpaid principal amount of all advances made by Payee to Borrower
as Revolving Loans under the Credit Agreement referred to below.

     

    Borrower
also promises to pay interest on the unpaid principal amount hereof, from the
date hereof until paid in full, at the rates and at the times which shall be
determined in accordance with the provisions of that certain Credit Agreement,
dated as of July 30,
2010 (as it may be amended, supplemented or otherwise modified, the “Credit Agreement”; the terms
defined therein and not otherwise defined herein being used herein as therein
defined), by and among BORROWER, as Borrower, the
Lenders party thereto from time to time, WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Syndication Agent, and ROYAL BANK OF CANADA, as
Administrative Agent.

     

    This Note
is one of the Notes issued pursuant to and entitled to the benefits of the
Credit Agreement, to which reference is hereby made for a more complete
statement of the terms and conditions under which the Revolving Loans evidenced
hereby were made and are to be repaid.

     

    All
payments of principal and interest in respect of this Note shall be made in
lawful money of the United States of America in same day funds at the Funding
Office of the Administrative Agent or at such other place as shall be designated
in writing for such purpose in accordance with the terms of the Credit
Agreement.  Unless and until an Assignment and Assumption effecting the
assignment or transfer of the obligations evidenced hereby shall have been
accepted by Administrative Agent and recorded in the Register, Borrower, each
Agent and the Lenders shall be entitled to deem and treat Payee as the owner and
holder of this Note and the obligations evidenced hereby.  Payee hereby
agrees, by its acceptance hereof, that before disposing of this Note or any part
hereof it will make a notation hereon of all principal payments previously made
hereunder and of the date to which interest hereon has been paid; provided, the
failure to make a notation of any payment made on this Note shall not limit or
otherwise affect the obligations of Borrower hereunder with respect to payments
of principal of or interest on this Note.

     

    This Note
is subject to mandatory prepayment and to prepayment at the option of Borrower,
each as provided in the Credit Agreement.

     

    Upon the
occurrence and during the continuance of an Event of Default, the unpaid balance
of the principal amount of this Note, together with all accrued and unpaid
interest thereon, may become, or may be declared to be, due and payable in the
manner, upon the conditions and with the effect provided in the Credit
Agreement.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    The terms
of this Note are subject to amendment only in the manner provided in the Credit
Agreement.

     

    No
reference herein to the Credit Agreement and no provision of this Note or the
Credit Agreement shall alter or impair the obligations of Borrower, which are
absolute and unconditional, to pay the principal of and interest on this Note at
the place, at the respective times, and in the currency herein
prescribed.

     

    Borrower
and any endorsers of this Note hereby consent to renewals and extensions of time
at or after the maturity hereof, without notice, and hereby waive diligence,
presentment, protest, demand notice of every kind and, to the full extent
permitted by law, the right to plead any statute of limitations as a defense to
any demand hereunder (except as expressly provided in the Credit Agreement and
the Loan Documents).

     

    [Signature
Page Follows]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    THIS NOTE
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK.

    

    
      
        
          
            	 
      	
                    WEB.COM
      GROUP, INC.

                  
	 
      	 
      	 
      
	 
      	
                    By:

                  	 
      
	 
      	
                    Name:

                  	 
      
	 
      	
                    Title:

                  	 
      

          

        

      

    

    

    [Signature
Page to [                                
] Revolving Loan Note]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    
      
        
          
            
              
                
                  
                    	
                            TRANSACTIONS
      ON

                            REVOLVING
      LOAN NOTE

                             

                          	 
	
                            
                              Date

                            

                          	 	
                            
                              Amount
      of Loan

                              Made
      This Date

                            

                          	 	 	
                            
                              Amount
      of Principal

                              Paid
      This Date

                            

                          	 	 	
                            
                              Outstanding
      Principal

                              Balance
      This Date

                            

                          	 	 	
                            
                              Notation

                              Made
      By

                            

                          	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

                  

                

              

            

          

        

      

    

     

    [Credit
Agreement Signature Page]EXHIBIT
10.1

    

    EMPLOYMENT
AGREEMENT

    

    THIS
EMPLOYMENT AGREEMENT (the “Agreement”) is made
and entered into this 3rd day of
August, 2010 by and between RBC Life Sciences, Inc. (“Employer”) located at
2301 Crown Court, Irving, Texas 75038 and Clinton H. Howard (“Employee”), residing
at 3917 Fox Glen Drive, Irving, Texas 75062.

    

    WITNESSETH:

    

    WHEREAS,
Employer is engaged in, among other businesses, the international distribution
of nutritional supplements and personal care products through the network
marketing distribution model, and the distribution of wound care and oncology
care products; and

    

    WHEREAS,
Employee is being compensated as a consultant for a five-year period ending
December 31, 2013 pursuant to Section 16.2 of an employment agreement dated
November 20, 2003 (the “Former Employment Agreement”); and

    

    WHEREAS,
Employer desires to employ Employee, and Employee desires to accept employment
with Employer, on the terms and conditions set forth in this
Agreement;

    

    NOW,
THEREFORE, in consideration of the mutual covenants and promises set forth in
this Agreement, Employer and Employee hereby agree as follows:

    

    Section
1.     Effective
Date and Purpose.  The effective date of this Agreement shall
be August 1, 2010 (the “Effective
Date”).  This Agreement sets forth the terms and conditions of
Employee’s employment with Employer on and after the Effective Date during the
term hereof.

    

    Section
2.     Employment
Title and Duties.  Employer hereby employs Employee and
Employee hereby accepts such employment by Employer on the terms and subject to
the conditions hereunder set forth.  Employer shall employ Employee in
the capacity of Chief Executive Officer and President. In this capacity,
Employee shall have the responsibility to perform all duties that are
customarily performed by one holding that position in other, same, or similar
businesses or enterprises as that engaged in by Employer.  Employee
accepts this employment, subject to the general supervision and pursuant to the
orders and direction of Employer’s Board of Directors (the
“Board”).  Employee shall also render such other services and duties,
consistent with such capacity, as may be assigned from time to time by the
Board.

    

    Section
3.     Compensation
of Employee.  Employer shall pay Employee, in full payment for
Employee’s services and covenants under this Agreement, the following
compensation:

     

    
      	
               
      

            	
              a.

            	
              Salary. During his
      employment pursuant to this Agreement, Employee’s annual base salary shall
      be $325,000 payable bi-weekly in equal payments of $12,500 in accordance
      with Employer’s customary payroll practices.  Employee’s base
      salary may be increased during the term of this Agreement by the
      Compensation Committee of the Board as determined in its sole
      discretion.

            

    

     

    
      	
               
      

            	
              b.

            	
              Incentive
      Bonus. The Board of
      Directors (the “Board”) will
      maintain a discretionary annual cash incentive bonus program each year
      during the term of this Agreement.  The Committee shall
      determine in its discretion whether any annual incentive bonus will be
      payable for any year to Employee based on business-related factors deemed
      appropriate by the Board for a particular year.  Any annual
      incentive bonus payable to Employee will be paid in a lump sum payment in
      the year immediately following the year to which the bonus relates and
      will be paid only if Employee is employed by the Company on the date the
      bonus is paid.

            

    

     

    
      
        
        

      

      
        - 1
-

        
          

        

      

      
        
        

      

    

    

    If at the
end of the year in which employment is terminated, other than for “Cause”, the
employee would have received a bonus, Employee will be paid a prorata share for
the full months of actual employment in that year payable at the time the
bonuses for that year are paid to eligible employees.

     

    
      	
               
      

            	
              c.

            	
              Health
      and Welfare Benefits.  During
      his employment, Employer shall reimburse the Employee for the cost of
      Employee’s Medicare Part D
coverage.

            

    

     

    
      	
               
      

            	
              d.

            	
              Automobile
      Allowance.  Employer
      shall pay to Employee an automobile allowance in an amount equal to $750
      per month, payable in accordance with Employer’s customary payroll
      practices.

            

    

     

    
      	
            	
              e.

            	
              Former
      Employment Agreement.  In connection with employment
      under this Agreement, the consulting arrangement under Section 16.2 of the
      Former Employment agreement is hereby and forever
    terminated.

            

    

    

    Section
4.    Best
Efforts of Employee.  Employee agrees to perform all of the
duties pursuant to the express and implicit terms of this Agreement to the
reasonable satisfaction of Employer.  Employee further agrees to
perform such duties faithfully and to the best of his ability, talent, and
experience.

    

    Section
5.    Place of
Employment.  Employee shall render such duties at 2301 Crown
Court, Irving, Texas 75038 and at such other places as Employer shall in good
faith require or as the interest, needs, business, or opportunity of Employer
shall require.

    

    Section
6.    Non-Competition
with Employer during Employment.  Employee shall devote all his
time, attention, knowledge, and skills solely to the business and interest of
Employer, and Employer shall be entitled to all of the benefits and profits
arising from the work of Employee.  Employee shall not, during his
employment under this Agreement, perform services for or be interested directly
or indirectly, in any manner, as partner, officer, director, shareholder,
advisor, consultant, employee, or in any other capacity in any other business
similar to Employer’s business, any allied trade, or any business offering a
competing or alternative product or service. However, nothing contained in this
section shall prevent or limit Employee from continuing to receive the benefits
of relationships previously disclosed and approved by the Chair of the Audit
Committee of the Board in writing or investing in the capital stock or other
securities of any corporation whose stock or securities are publicly owned and
traded on any public exchange, nor shall anything contained in this Section 6
prevent or limit Employee from investing in real estate.

    

    Section
7.    Confidentiality
and Nondisclosure. Employer promises to
disclose to Employee and Employee acknowledges that in and as a result of his
employment by Employer, he will receive, be making use of, acquiring, and/or
adding to confidential information of a special and unique nature and value
relating to such matters as Employer’s trade secrets and proprietary and
confidential business information, including but not limited to, its unique
business methods and strategies, processes, product and design development,
programs and programming codes, pricing methods, operating techniques and
practices, operating and production costs, corporate financial information,
customer requirements, customer and supplier information, potential customer
lists and marketing techniques, systems, procedures, manuals, confidential
reports, the equipment and methods used and preferred by its customers and the
fees paid by them, and compilations of information, records, and specifications
(all of which are referred to collectively herein as “Confidential
Matters”).  Employee further agrees that if a third party
(e.g., vendors, customers and manufacturers) contracts with Employer, the
information obtained or received from a third party including, but not limited
to, its patents, copyrights, proprietary information, trade secrets, systems,
product development, procedures, manuals, and confidential reports will be
treated in the same manner and subject to the same protection as other
Confidential Matters.

     

    
      
        
        

      

      
        - 2
-

        
          

        

      

      
        
        

      

    

    

    Employee
acknowledges that Employer does not voluntarily disclose Confidential Matters,
but rather takes precautions to prevent their dissemination except pursuant to
suitable confidentiality safeguards.  Employee further acknowledges
that Confidential Matters (1) are secret and not known in the industry;
(2) have been and will be entrusted to Employee because Employee is a
fiduciary of Employer; (3) have been and will be developed by Employer
and/or Employee for and on behalf of Employer through substantial expenditures
of time, effort, and money and are and will be used in Employer’s business;
(4) give Employer an opportunity to obtain an advantage over competitors
who do not know or use the Confidential Matters; and (5) are of such value
and nature as to make it reasonable and necessary for Employee and Employer to
protect and preserve the confidentiality and secrecy of the Confidential
Matters.

     

    Employee
acknowledges and agrees that the Confidential Matters are valuable, special, and
unique assets of Employer, the disclosure of which could cause substantial
injury and loss of profits and good will to Employer.  The
Confidential Matters to be prepared or compiled by Employee and/or Employer or
furnished to Employee prior to or during Employee’s term as an employee of
Employer shall be the sole and exclusive property of Employer.  Upon
the separation of Employee’s employment with Employer, all documents and things
related to Confidential Matters shall be returned to Employer as soon as
practicable and none shall be retained by Employee, including any
copies.

     

    As a
condition of employment and continued employment, Employee shall keep
confidential all such confidential and proprietary information that Employee
learns or acquires as a result of his employment with Employer, and shall not at
any time except as necessary to conduct the business of Employer, directly or
indirectly make known, divulge, use, furnish, or reveal to any person, firm,
company, corporation, or anyone else any of the Confidential Matters or any
knowledge or information with respect thereto, or otherwise use such information
for any purpose whatsoever.  Employee promises that Employee will take
all steps necessary to safeguard all Confidential Matters and to prevent their
use, disclosure, or dissemination to any other person or entity except as
necessary to conduct the business of Employer.

     

    Employee
further agrees that in the event Employee is subpoenaed, served with any legal
process or notice, or otherwise requested to produce or divulge, directly or
indirectly, any Confidential Matters by any entity, agency, or person in any
formal or informal proceeding, including, but not limited to, any interview,
deposition, administrative or judicial hearing, and/or trial, upon Employee’s
receipt of such subpoena, process, notice, or request, Employee shall
immediately notify and deliver a copy of the subpoena, process, notice, or
request to the Board.  Employee further irrevocably nominates,
constitutes, and appoints Employer (specifically including any attorney retained
by Employer) as Employee’s true and lawful attorney-in-fact, to act in
Employee’s name, place, and stead to do and perform any act which Employee might
perform, including to institute, prosecute, defend, quash, compromise, settle,
arbitrate, release, and dispose of any and all legal, equitable, or
administrative hearings, actions, suits, attachments, subpoenas, claims, levies,
or other proceedings, or otherwise engage in or defend any and all litigation in
connection with or relating to any request to disclose, directly or indirectly,
any Confidential Matters; provided, however, that Employer shall be under no
obligation to act as Employee’s attorney-in-fact and may decline to do so upon
written notice to Employee.

     

    Section
8.    Term.  This
Agreement shall be effective for the period beginning on August 1, 2010 and
ending on December 31, 2012.  This Agreement will be automatically
renewed for an additional one-year period upon expiration of its initial term
and each subsequent term thereafter, unless either Employer or Employee gives
written notice to the other party at least sixty (60) days prior to the last day
of the then current term of the Agreement.

    

    Section
9.    Termination
of Employment.

     

    
      	
               
      

            	
              a.

            	
              Termination
      by Employer for Cause.  Employer
      may immediately terminate the employment of Employee under this Agreement
      for “Cause” (as defined below) at any time by giving written notice of
      termination to Employee without prejudice to any other remedy to which
      Employer may be entitled either at law, in equity, or under this
      Agreement.  In this case, Employee will be paid his monthly base
      salary up to the date of his termination of employment and shall not be
      entitled to any other compensation or benefits under this
      Agreement.

            

    

     

    
      
        
        

      

      
        - 3
-

        
          

        

      

      
        
        

      

    

     

    For
purposes of this Agreement, “Cause” shall mean, in
each case, as reasonably determined by the Board:  (i) conviction of,
or entry of a pleading of guilty or no contest by, Employee with respect to a
felony or any lesser crime of which fraud or dishonesty is a material element,
(ii) Employee’s willful and continued failure to perform his duties with
Employer, or a failure to follow the lawful direction of the Board after the
Board delivers a written demand for performance and Employee neglects to cure
such a failure to the reasonable satisfaction of the Board within 15 days after
receipt of the demand, (iii) Employee’s failure to comply with applicable laws
with respect to the execution of Employer’s business operations or his material
breach of Sections 6 or 7 of this Agreement, (iv) Employee’s theft, fraud,
embezzlement, dishonesty, or similar conduct which has resulted or is reasonably
likely to result in material damage to Employer or any of its affiliates or
subsidiaries, or (v) Employee’s habitual intoxication or continued abuse of
illegal drugs which interferes with Employee’s ability to perform his assigned
duties and responsibilities.

     

    
      	
               
      

            	
              b.

            	
              Termination
      by Employee for Good Reason or Termination by Employer Without
      Cause.  Employee
      may terminate his employment under this Agreement for “Good Reason” (as
      defined below) at any time by giving written notice of termination to
      Employer without prejudice to any other remedy to which Employee may be
      entitled either at law or in equity under this Agreement and Employer may
      terminate Employee’s employment under this Agreement at any time for any
      reason other than Cause or as described in Section 9.c. or Section 9.d. of
      this Agreement by giving written notice of such termination to
      Employee.  If Employee’s employment under this agreement is
      terminated by Employee for Good Reason or by Employer for a reason other
      than Cause or as described in Section 9.c. or Section 9.d. of this
      Agreement and Employee executes a general release in the form provided to
      Employee by the Company (the “Release”)
      within 30 days following the date of his termination of employment (the
      “Termination
      Date”) and does not revoke the Release during any applicable
      revocation period, Employee shall be paid an amount equal to the greater
      of (i) his monthly base salary through the last day of the term of this
      Agreement or (ii) his monthly base salary for a period of six (6) months
      as severance pay following the Termination Date payable, in each case, for
      a period of twelve (12) months in substantially equal payments in
      accordance with Employer’s normal payroll practices and commencing,
      subject to the payment timing provisions of Section 10.b., on the first
      regularly scheduled payroll date of Employer following the expiration of
      45 days after the Termination Date, plus an amount equal to his accrued,
      unused  vacation and personal time of “PTO”) paid in a
      single lump sum payment on the first regularly scheduled payroll date of
      Employer following the Termination Date.  The form of the
      Release will be provided to Employee by Employer not later than five (5)
      days following Employee’s Termination Date.  The amounts paid
      shall be reduced by all amounts withheld and deducted pursuant to Section
      20.  No benefits, bonuses, PTO, or other forms of compensation,
      except for the severance payments and accrued PTO described in this
      Section 9.b., will be paid to Employee or accrued for the severance
      payment period.  Payments under this Section 9.b. shall cease if
      during the term of the payments Employee violates the provisions of
      Section 7 or Section 13.

            

    

     

    For
purposes of this Agreement, the term “Good Reason” shall
mean: (i) a material breach by Employer of this Agreement; or (ii) a
material diminution of Employee’s authority, duties, or responsibilities as in
effect immediately after the Effective Date of this Agreement; provided, however
that Employee must provide notice to Employer of the condition described in
clause (i) or (ii) above, as applicable, within ninety (90) days of the initial
existence of the condition, upon the notice of which Employer shall have a
thirty (30) day period during which it may remedy the condition.

     

    
      	
               
      

            	
              c.

            	
              Death
      of Employee.  This
      Agreement shall be deemed terminated as of the date of Employee’s
      death.  In this case, Employer shall pay to employee’s estate
      Employee’s monthly base salary as provided in this Agreement up to the
      Termination Date, plus Employee’s accrued, unused PTO, payable, in each
      case, in accordance with Employer’s customary payroll
      practices.

            

    

    
      
         

      

      
        - 4
-

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              d.

            	
              Disability
      of Employee.   Should
      Employee be unable to perform his duties under this Agreement by reason of
      inability to perform the essential functions of the position for a period
      of six (6) months, as determined by the Board in its sole discretion,
      Employer shall have the right to terminate this Agreement upon written
      notice to Employee.  During the six-month period that Employee
      fails to perform his duties as a result of his inability to perform the
      essential functions of the position, Employer will continue to pay
      Employee Employee’s monthly base salary based on its customary payroll
      practices, reduced by any disability payments received by Employee from a
      disability program made available by Employer, and Employee shall be
      treated as on a bona fide leave of absence.  On the Termination
      Date, Employee shall be paid his accrued, unused PTO.  The
      amounts paid shall be reduced by all amounts withheld and deducted
      pursuant to Section 20.

            

    

     

    
      	
               
      

            	
              e.

            	
              Early
      Termination by Employee.  Should
      Employee terminate his employment prior to the end of the term of this
      Agreement, other than for Good Reason, death or disability, Employee shall
      be paid his monthly base salary and unused, accrued PTO up to the
      Termination Date, and shall be entitled to any other compensation or
      benefits under this Agreement, including any incentive
    bonus.

            

    

     

    Section
10.          Additional
Termination Provisions.

     

    
      	
               
      

            	
              a.

            	
              Separation
      from Service.  Notwithstanding anything to the contrary
      in this Agreement, with respect to any amounts payable to Employee under
      this Agreement in connection with a termination of Employee’s employment
      that would be considered “non-qualified deferred compensation” under
      Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), in no
      event shall a termination of employment be considered to have occurred
      under this Agreement unless such termination constitutes Employee’s
      “separation from service” with Employer as such term is defined in
      Treasury Regulation Section 1.409A-1(h) and any successor provision
      thereto (“Separation from
      Service”).

            

    

     

    
      	
               
      

            	
              b.

            	
              Section
      409A Compliance.  Notwithstanding anything contained in
      this Agreement to the Contrary, to the maximum extent permitted by
      applicable law, the severance payments payable to Employee pursuant to
      Section 9 shall be made in reliance upon Treasury Regulation Section
      1.409A-1(b)(9)(iii) (relating to separation pay plans) or Treasury
      Regulation Section 1.409A-1(b)(4) (relating to short-term
      deferrals).  However, to the extent any such payments are
      treated as “non-qualified deferred compensation” subject to Section 409A
      of the Code, and if Employee is deemed at the time of his Separation from
      Service to be a “specified employee” for purposes of Section
      409A(a)(2)(B)(i) of the Code, then to the extent delayed commencement of
      any portion of the benefits to which Employee is entitled under this
      Agreement is required in order to avoid a prohibited payment under Section
      409A(a)(2)(B)(i) of the Code, such portion of Employee’s termination
      benefits shall not be provided to Employee prior to the earlier of
      (i) the expiration of the six-month period measured from the date of
      Employee’s Separation from Service or (ii) the date of Employee’s
      death.  Upon the earlier of such dates, all payments deferred
      pursuant to this Section 10.b. shall be paid in a lump sum to
      Employee.  The determination of whether Employee is a “specified
      employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as of the
      time of his Separation from Service shall made by Employer in accordance
      with the terms of Section 409A of the Code and applicable guidance
      thereunder (including without limitation Treasury Regulation Section
      1.409A-1(i) and any successor provision
  thereto).

            

    

     

    
      
        
        

      

      
        - 5
-

        
          

        

      

      
        
        

      

    

     

    Section
11.          Section
409A; Separate Payments.  This Agreement is intended to be
written, administered, interpreted and construed in a manner such that no
payment or benefits provided under the Agreement become subject to (a) the
gross income inclusion set forth within Section 409A(a)(1)(A) of the Code or
(b) the interest and additional tax set forth within Section 409A(a)(1)(B)
of the Code (collectively, “Section 409A
Penalties”), including, where appropriate, the construction of defined
terms to have meanings that would not cause the imposition of Section 409A
Penalties.  In no event shall Employer be required to provide a tax
gross-up payment to Employee or otherwise reimburse Employee with respect to
Section 409A Penalties.  For purposes of Section 409A of the Code
(including, without limitation, for purposes of Treasury Regulation Section
1.409A-2(b)(2)(iii)), each payment that Employee may be eligible to receive
under this Agreement shall be treated as a separate and distinct payment and
shall not collectively be treated as a single payment.

     

    Section
12.          In-kind
Benefits and Reimbursements.  Notwithstanding anything to the
contrary in this Agreement, in-kind benefits and reimbursements provided under
this Agreement during any tax year of Employee shall not affect in-kind benefits
or reimbursements to be provided in any other tax year of Employee and are not
subject to liquidation or exchange for another
benefit.  Notwithstanding anything to the contrary in this Agreement,
reimbursement requests must be timely submitted by employee and, if timely
submitted, reimbursement payments shall be made to Employee as soon as
administratively practicable following such submission, but in no event later
than the last day of Employee’s tax year following the taxable year in which the
expense was incurred.  This paragraph shall apply only to in-kind
benefits and reimbursements that would result in taxable compensation income to
Employee.

    

    Section
13.          Post
Employment Non-Compete.  As a material
inducement for receiving, the trade secrets and confidential and proprietary
information described in Section 7 and other good and valuable consideration,
Employee agrees that during the term of his employment and for a period of
twelve (12) months after the separation date of Employee’s employment with
Employer, for whatever reason:

     

    
      	
               
      

            	
              a.

            	
              Employee
      shall not, directly or indirectly, without written approval of the CEO,
      solicit or induce, or attempt to solicit or induce, any current customer
      (defined as all customers of Employer within the 12 months preceding
      Employee’s separation of employment) or employee of Employer to alter,
      leave or cease their relationship with Employer, for any reason
      whatsoever,

            

    

     

    
      	
               
      

            	
              b.

            	
              In
      an executive, financial, sales, or operational capacity, Employee shall
      not, directly or indirectly, without written approval of the CEO, accept
      employment from or provide competitive services or assistance to any
      current customer of Employer with whom Employee has had any contact during
      his employment with Employer; and

            

    

     

    
      	
               
      

            	
              c.

            	
              Employee
      shall not solicit or attempt to solicit Employer’s current customers with
      whom Employee has had any contact during his employment with Employer to
      purchase services or products that are competitive with those marketed,
      offered for sale and/or under any stage of development by Employer as of
      the date of Employee’s separation from
Employer.

            

    

     

    Notwithstanding
the foregoing provisions, Employer shall not unreasonably restrict Employee’s
ability to serve on boards of directors of other companies.

    

    Section
14.          Indemnity.  Employer
shall indemnify Employee and hold Employee harmless for any acts or decisions
made by Employee in good faith and that were reasonably believed to be in the
best interest of Employer while performing services for
Employer.  Employer will use its reasonable best efforts, to maintain
Director and Officer insurance coverage in the amount of not less than
$1,000,000 for Employee under an insurance policy covering the officers and
directors of Employer against lawsuits.  Employer shall pay all
reasonable expenses, including attorney’s fees, actually and necessarily
incurred by Employee in connection with any appeal thereon, including the cost
of court settlements.  Notwithstanding the preceding sentence,
(i) the obligations of Employer shall be subject to the condition that the
Board shall not have determined based on advice from its legal counsel that
Employee would not be permitted to be indemnified under applicable law, and
(ii) the obligation of Employer to make an expense or fee advance pursuant
to this Section 14 shall be subject to the condition that, if, when and to
the extent that the Board determines that Employee would not be permitted to be
so indemnified under applicable law, Employer shall be entitled to be reimbursed
by Employee (who hereby agrees to reimburse Employer) for all such amounts
theretofore paid (it being understood and agreed that the foregoing agreement by
Employee shall be deemed to satisfy any requirement that Employee provide
Employer with an undertaking to repay any advancement of fees or expenses if it
is ultimately determined that Employee is not entitled to indemnification under
applicable law); provided, however, that if Employee has commenced or thereafter
commences legal proceedings in a court of competent jurisdiction to secure a
determination that Employee should be indemnified under applicable law, any
determination made by the Board that Employee would not be permitted to be
indemnified under applicable law shall not be binding and Employee shall not be
required to reimburse Employer for any expense advance until a final judicial
determination is made with respect thereto (as to which all rights of appeal
therefrom have been exhausted or have lapsed).  This undertaking by
Employee to repay such expense advance shall be unsecured and
interest-free.

    

    
      
        
        

      

      
        - 6
-

        
          

        

      

      
        
        

      

    

     

    Section
15.          Effect of
Partial Invalidity.  The invalidity of any portion of this
Agreement shall not affect the validity of any other provision.  In
the event that any provision of this Agreement is held to be invalid, the
parties agree that the remaining provisions shall remain in full force and
effect.

    

    Section
16.          Entire
Agreement.  This Agreement contains the complete Agreement
between the parties and shall supersede all other agreements, either oral or
written, between the parties.  The parties stipulate that neither of
them has made any representations except as are specifically set forth in this
Agreement and each of the parties acknowledges that they have relied on their
own judgment in entering into this Agreement.

    

    Section
17.          Successors
and Assigns; Survival of Rights and Obligations.

     

    
      	
               
      

            	
              a.

            	
              Binding
      Agreement; Employee’s Personal Agreement.  This
      Agreement shall be binding upon and inure to the benefit of Employee’s and
      his heirs and legal representatives and Employer and its successors and
      assigns.  Employee’s rights and obligations under this Agreement
      are personal and may not be assigned or transferred in whole or in part by
      Employee (except that his rights may be transferred upon his death by
      will, trust, or the laws of
intestacy).

            

    

     

    
      	
               
      

            	
              b.

            	
              Employer’s
      Successor.  Employer
      will require any successor to all or substantially all of the business and
      assets of Employer (whether direct or indirect, by purchase, merger,
      consolidation or otherwise) to expressly assume and agree to perform this
      Agreement in the same manner and to the same extent that Employer would be
      required to perform it if no such succession had taken place; except that
      no such assumption and agreement will be required if the successor is
      bound by operation of law to perform this Agreement.  In this
      Agreement, “Employer” shall include any successor to Employer’s business
      and assets that assumes and agrees to perform this Agreement (either by
      agreement or by operation of law).

            

    

     

    
      	
               
      

            	
              c.

            	
              Survival.  The
      respective rights and obligations of Employer and Employee under this
      Agreement (including Sections 7, 9, 10, 11, 13, 14 and 17) shall survive
      the expiration or termination of the Agreement to the extent necessary to
      give full effect to those rights and
  obligations.

            

    

     

    Section
18.          Notices.  All
notices, requests, demands, and other communications shall be in writing and
shall be given by registered or certified mail, postage prepaid, to the
addresses shown on the first page of this Agreement, or to such subsequent
addresses as the parties shall so designate in writing.

    

    Section
19.          Dispute
Resolution.

     

    
      	
               
      

            	
              a.

            	
              Arbitration.  The
      exclusive remedy or method of resolving all disputes or questions arising
      out of or relating to this Agreement (including its expiration or
      termination) or the expiration or termination of Employee’s employment
      hereunder (“Disputes”)
      shall be arbitration held in Dallas, Texas.  Nevertheless,
      although disputes or questions arising out of or relating to Sections 6, 7
      and 13 shall be subject to arbitration, Employer shall not be precluded
      from also seeking and obtaining injunctive relief from any court of proper
      jurisdiction to enforce or protect its rights under Sections 6, 7 and 13.
      Any arbitration may be requested or initiated by a party to the Dispute by
      written notice to the other party or parties to the Dispute specifying the
      subject of the requested arbitration and preparing the name of an
      arbitrator (“Arbitration
      Notice”).

            

    

     

    
      
        
        

      

      
        - 7
-

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              b.

            	
              Arbitrators.  Arbitration
      shall be before a single arbitrator agreed upon by Employer and Employee
      (collectively, the “Parties”).  If
      the Parties are unable to agree upon the selection of an arbitrator, then
      the Parties shall request that the American Arbitration Association in
      Dallas, Texas appoint an
arbitrator.

            

    

     

    
      	
               
      

            	
              c.

            	
              Award
      and Costs.  The
      arbitration proceeding shall be conducted in accordance with the
      Commercial Arbitration Rules of the American Arbitration
      Association.  The costs of arbitration (exclusive of the expense
      of a party to the Dispute in obtaining and presenting evidence and
      attending the arbitration and of the fees and expenses of legal counsel to
      a party to the dispute, all of which shall be borne by that party to the
      Dispute) shall be borne by Employer if Employee receives substantially the
      relief sought by him in the arbitration, whether by settlement, award, or
      judgment; otherwise, the costs shall be borne one-half by Employer and
      one-half by Employee.  The arbitration determination or award
      shall be final and conclusive on the parties to the Dispute, and judgment
      upon such award may be entered and enforced in any court of competent
      jurisdiction.

            

    

     

    Section
20.          Tax
Withholding. Employer shall be
entitled to deduct and withhold from payments made under this Agreement all
amounts required to satisfy its withholding obligations with respect to income,
employment and any other applicable taxes.

    

    Section
21.          Limitation
on Payments.  Notwithstanding anything in this Agreement to the
contrary, if the total of the payments and benefits under this Agreement,
together with any other payments or benefits received by Employee from Employer,
will be an amount that would cause them to be a “parachute payment” within the
meaning of Section 280G(b)(2)(A) of the Code (the “Parachute Payment
Amount”), then such payments under this Agreement shall be reduced so
that the total amount thereof is $1 less than the Parachute Payment
Amount.

    

    Section
22.          Attorney’s
Fees.  If any arbitration proceeding or any action for
injunctive or declaratory relief is brought to enforce or interpret the
provisions of this Agreement, attorney’s fees shall be borne by Employer if
Employee is the prevailing party (or receives substantially the relief sought by
Employee), otherwise each party will be responsible for its own attorney’s
fees.

    

    Section
23.          Additional
Obligations.  During and after the term of this Agreement,
Employee shall, upon reasonable notice from Employer, furnish Employer with such
information as may be in Employee’s possession, and cooperate with Employer as
may reasonably be requested by Employer, in connection with any legal or
governmental proceedings in which Employer or any of its affiliates is or may
become a party.  The Company shall reimburse Employee for his
reasonable expenses in fulfilling his obligations under this Section 23
promptly, but in no event later than the last day of the calendar year following
the calendar year in which Employee incurs the expense.

    

    Section
24.          Supplemental
Consulting and Related Payments.  Except as otherwise provided
below in this Paragraph, as additional consideration for this Agreement and for
the items covered in this Section, upon termination of Employee’s employment
with Employer for any reason other than death or upon non-renewal of this
Agreement, Employer shall pay to Employee a sum equal to Fourteen Thousand Four
Hundred Thirty-three Dollars ($14,433) each month for a period of thirty-six
(36) consecutive months.  This sum will be paid to Employee each month
beginning on the first day of the month that immediately follows the date
Executive’s employment terminates.  The above referenced payment
amount will be reduced by fifty percent (50%) (i) if or when all of the
Employer’s obligations that are personally guaranteed by Employee (the “Employer
Guarantees”) have been satisfied or released and Employee is provided written
verification satisfactory to him showing that he is no longer obligated on any
such debts, or (ii) if his employment is terminated due to
disability.  If Executive’s employment is terminated by Employer for
Cause or disability and all of the debts upon which he is a guarantor have been
released, then there shall be no payment obligations under this
Paragraph.  If Employee is terminated for Cause or disability, and he
has not been released from all of his obligations on the Employer Guarantees,
then the above referenced supplemental consulting and related payments shall be
reduced by fifty percent (50%) for the thirty-six (36) months or until the
Employer Guarantees are released, whichever is sooner.

    

    
      
        
        

      

      
        - 8
-

        
          

        

      

      
        
        

      

    

     

    Section
25.          Amendment.  Any
modification, amendment or change of this Agreement will be effective only if it
is in a writing signed by both parties.

    

    Section
26.         Governing
Law; Interpretation.  This Agreement, and all transactions
contemplated by this Agreement, shall be governed by, construed, and enforced in
accordance with the laws of the State of Texas.  This Agreement shall
be construed and interpreted by the Board and such determination shall be final,
binding and conclusive on all parties.

    

    Section
27.          Headings.  The
titles to the Sections and the paragraphs of this Agreement are solely for the
convenience of the parties and shall not affect in any way the meaning or
interpretation of this Agreement.

     

    IN WITNESS WHEREOF, the parties have executed this Agreement on
this 3rd day
of August, 2010.

     

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                EMPLOYEE:

                              	 	
                                EMPLOYER:

                              
	 
      	 	 
      	 
      
	 
      	 	
                                RBC
      LIFE SCIENCES, INC.

                              
	 
      	 	 
      	 
      
	
                                /s/
      Clinton H. Howard

                              	 	
                                By:

                              	
                                /s/
      Steven E. Brown

                              
	
                                Clinton
      H. Howard

                              	 	 
      	
                                Steven
      E. Brown

                              
	 
      	 	 
      	
                                Chief
      Financial Officer and Vice
President-Finance

                              

                      

                       

                      
                        
                          
                          

                        

                        
                          - 9
-

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