Document:

Exhibit 4.9 to Deluxe Corporation Form 10-Q

Exhibit 4.9 

5-YEAR REVOLVING CREDIT AGREEMENT 

Dated as of July 22, 2004 

among 

DELUXE CORPORATION, 

BANK ONE, NA, 

as Administrative Agent, 

CREDIT SUISSE FIRST BOSTON, 

as Syndication Agent, 

THE BANK OF NEW YORK,

THE BANK OF TOKYO-MITSUBISHI, LTD., and

WACHOVIA BANK, NATIONAL ASSOCIATION, 

as Documentation Agents 

and 

THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO 

arranged by 

J.P. MORGAN SECURITIES INC. and

CREDIT SUISSE FIRST BOSTON, 

as Co-Lead Arrangers and Joint Book Runners 

TABLE OF CONTENTS  

	Section		Page
	 
	ARTICLE I      DEFINITIONS  	1 
	 
	1.01	 	Certain Defined Terms 	 	1	 
	1.02 	 	Other Interpretive Provisions 	 	15 	 
	1.03 	 	Accounting Principles 	 	16 	 
	 
	ARTICLE II      THE CREDITS  	16 
	 
	2.01 	 	The Revolving Credit 	 	16 	 
	2.02 	 	Loan Accounts; Notes 	 	17 	 
	2.03 	 	Procedure for Committed Borrowing 	 	17 	 
	2.04 	 	Conversion and Continuation Elections for Committed Borrowings 	 	18 	 
	2.05 	 	Bid Borrowings 	 	19 	 
	2.06 	 	Procedure for Bid Borrowings 	 	20 	 
	2.07 	 	Termination or Reduction of Commitments; Increase of Commitments 	 	23 	 
	2.08 	 	Optional Prepayments 	 	24 	 
	2.09 	 	[RESERVED] 	 	24 	 
	2.10 	 	Repayment 	 	24 	 
	2.11 	 	Interest 	 	24 	 
	2.12 	 	Fees 	 	25 	 
	2.13 	 	Computation of Fees and Interest 	 	26 	 
	2.14 	 	Payments by the Company 	 	27 	 
	2.15 	 	Payments by the Banks to the Agent 	 	27 	 
	2.16 	 	Sharing of Payments, Etc. 	 	28 	 
	2.17 	 	Facility LCs 	 	28 	 
	 
	ARTICLE III      TAXES, YIELD PROTECTION AND ILLEGALITY  	32 
	 
	3.01 	 	Taxes 	 	32 	 
	3.02 	 	Illegality 	 	35 	 
	3.03 	 	Increased Costs and Reduction of Return 	 	36 	 
	3.04 	 	Funding Losses 	 	37 	 
	3.05 	 	Inability to Determine Rates 	 	37 	 
	3.06 	 	Reserves on Offshore Rate Committed Loans 	 	38 	 
	3.07 	 	Certificates of Banks 	 	38 	 
	3.08 	 	Substitution of Banks 	 	38 	 
	3.09 	 	Survival 	 	38 	 
	 
	ARTICLE IV      CONDITIONS PRECEDENT  	38 
	 
	4.01 	 	Conditions to Effectiveness of Commitments and to Initial Loans 	 	38 	 
	4.02 	 	Conditions to All Credit Extensions 	 	40 	 
	 
	ARTICLE V      REPRESENTATIONS AND WARRANTIES  	41 
	 
	5.01 	 	Corporate Existence and Power 	 	41 	 
	5.02 	 	Corporate Authorization; No Contravention 	 	41 	 

ii. 

	Section		Page
	 
	5.03	 	Governmental Authorization	 	42	 
	5.04 	 	Binding Effect 	 	42 	 
	5.05 	 	Litigation 	 	42 	 
	5.06 	 	No Default 	 	42 	 
	5.07 	 	ERISA Compliance 	 	42 	 
	5.08 	 	Use of Proceeds; Margin Regulations 	 	43 	 
	5.09 	 	Title to Properties 	 	43 	 
	5.10 	 	Taxes 	 	43 	 
	5.11 	 	Financial Condition 	 	44 	 
	5.12 	 	Environmental Matters 	 	44 	 
	5.13 	 	Regulated Entities 	 	44 	 
	5.14 	 	No Burdensome Restrictions 	 	44 	 
	5.15 	 	Copyrights, Patents, Trademarks and Licenses, etc. 	 	44 	 
	5.16 	 	Subsidiaries 	 	45 	 
	5.17 	 	Insurance 	 	45 	 
	5.18 	 	Full Disclosure 	 	45 	 
	5.19 	 	Reportable Transaction 	 	45 	 
	5.20 	 	Solvency 	 	45 	 
	 
	ARTICLE VI      AFFIRMATIVE COVENANTS  	46 
	 
	6.01 	 	Financial Statements 	 	46 	 
	6.02 	 	Certificates; Other Information 	 	46 	 
	6.03 	 	Notices 	 	47 	 
	6.04 	 	Preservation of Corporate Existence, Etc. 	 	48 	 
	6.05 	 	Maintenance of Property 	 	48 	 
	6.06 	 	Insurance 	 	48 	 
	6.07 	 	Payment of Obligations 	 	48 	 
	6.08 	 	Compliance with Laws 	 	49 	 
	6.09 	 	Compliance with ERISA 	 	49 	 
	6.10 	 	Inspection of Property and Books and Records 	 	49 	 
	6.11 	 	Environmental Laws 	 	50 	 
	6.12 	 	Use of Proceeds 	 	50 	 
	6.13 	 	Guarantors 	 	50 	 
	 
	ARTICLE VII      NEGATIVE COVENANTS  	50 
	 
	7.01 	 	Limitation on Liens 	 	50 	 
	7.02 	 	Disposition of Assets 	 	52 	 
	7.03 	 	Consolidations and Mergers 	 	52 	 
	7.04 	 	Transactions with Affiliates 	 	53 	 
	7.05 	 	Use of Proceeds 	 	53 	 
	7.06 	 	Restricted Payments 	 	53 	 
	7.07 	 	ERISA 	 	54 	 
	7.08 	 	Change in Business 	 	54 	 
	7.09 	 	Accounting Changes 	 	54 	 
	7.10 	 	Interest Coverage 	 	54 	 
	7.11 	 	Subsidiary Indebtedness 	 	54 	 

iii. 

	Section		Page
	 
	ARTICLE VIII      EVENTS OF DEFAULT  	55 
	 
	8.01	 	Event of Default 	 	55	 
	8.02 	 	Remedies 	 	57 	 
	8.03 	 	Rights Not Exclusive 	 	58 	 
	 
	ARTICLE IX      THE AGENT  	58 
	 
	9.01 	 	Appointment and Authorization 	 	58 	 
	9.02 	 	Delegation of Duties 	 	58 	 
	9.03 	 	Liability of Agent 	 	58 	 
	9.04 	 	Reliance by Agent 	 	59 	 
	9.05 	 	Notice of Default 	 	59 	 
	9.06 	 	Credit Decision 	 	59 	 
	9.07 	 	Indemnification 	 	60 	 
	9.08 	 	Agent in Individual Capacity 	 	60 	 
	9.09 	 	Successor Agent 	 	61 	 
	9.10 	 	Withholding Tax 	 	61 	 
	 
	ARTICLE X      MISCELLANEOUS  	62 
	 
	10.01   	 	Amendments and Waivers 	 	62 	 
	10.02   	 	Notices 	 	63 	 
	10.03   	 	No Waiver; Cumulative Remedies 	 	63 	 
	10.04   	 	Costs and Expenses 	 	63 	 
	10.05   	 	Indemnity 	 	64 	 
	10.06   	 	Payments Set Aside 	 	65 	 
	10.07   	 	Successors and Assigns 	 	65 	 
	10.08   	 	Assignments, Participations, etc. 	 	65 	 
	10.09   	 	Set-off 	 	68 	 
	10.10   	 	Notification of Addresses, Lending Offices, Etc. 	 	68 	 
	10.11   	 	Counterparts 	 	68 	 
	10.12   	 	Severability 	 	68 	 
	10.13   	 	No Third Parties Benefited 	 	68 	 
	10.14   	 	Governing Law and Jurisdiction 	 	69 	 
	10.15   	 	Waiver of Jury Trial 	 	69 	 
	10.16   	 	Entire Agreement 	 	69 	 
	10.17   	 	USA PATRIOT ACT NOTIFICATION 	 	70 	 

iv. 

	     ANNEX I	 	Pricing Grid	 
	 
	SCHEDULES 	 
	 
	     Schedule 2.01	 	List of Commitments and Pro Rata Shares	 
	     Schedule 5.05	 	Litigation Schedule	 
	     Schedule 5.07	 	ERISA Matters	 
	     Schedule 5.12	 	Environmental Schedule	 
	     Schedule 5.16	 	List of Subsidiaries and Material Equity Investments	 
	     Schedule 7.01	 	Existing Liens	 
	     Schedule 10.02	 	Offshore and Domestic Lending Offices, Addresses for Notices	 
	 
	EXHIBITS 	 
	 
	     Exhibit A	 	Form of Compliance Certificate	 
	     Exhibit B	 	Form of Notice of Borrowing	 
	     Exhibit C	 	Form of Notice of Conversion/Continuation	 
	     Exhibit D	 	Form of Invitation for Competitive Bids	 
	     Exhibit E	 	Form of Competitive Bid Request	 
	     Exhibit F	 	Form of Competitive Bid	 
	     Exhibit G-1	 	Form of Committed Loan Note	 
	     Exhibit G-2	 	Form of Bid Loan Note	 
	     Exhibit H	 	Form of Opinion of Anthony C. Scarfone, General Counsel to the Company and the initial Guarantor	 
	     Exhibit I	 	Form of Assignment and Acceptance	 

v. 

5-YEAR REVOLVING CREDIT AGREEMENT 

        This 5-YEAR REVOLVING CREDIT AGREEMENT is entered into
as of July 22, 2004, among DELUXE CORPORATION, a Minnesota corporation (the “Company”), the several
financial institutions from time to time party to this Agreement (collectively, the “Banks”;
individually, a “Bank”), and BANK ONE, NA, with its principal office in Chicago, Illinois, as
administrative agent (in such capacity, the “Agent”) for the Banks and as an LC Issuer. 

        WHEREAS, the Banks have agreed to make available to the
Company a revolving credit facility upon the terms and conditions set forth in this Agreement;
 

        NOW, THEREFORE, in consideration of the mutual
agreements, provisions and covenants contained herein, the parties agree as follows: 

ARTICLE I 

DEFINITIONS 

	  	
1.01    Certain Defined Terms.  The following terms have the following meanings:

         “Absolute Rate” has the meaning specified in
subsection 2.06(c).

         “Absolute Rate Auction” means a solicitation of
Competitive Bids setting forth Absolute Rates pursuant to Section 2.06.

         “Absolute Rate Bid Loan” means a Bid Loan that bears
interest at a rate determined with reference to the Absolute Rate.

         “Acquisition” means any transaction or series of
related transactions for the purpose of or resulting, directly or indirectly, in (a) the acquisition of all or
substantially all of the assets of a Person, or of any material part of the business and operations or division of a
Person, (b) the acquisition of in excess of 50% of the capital stock, partnership interests or equity of any
Person, or otherwise causing any Person to become a Subsidiary, or (c) a merger or consolidation or any other
combination with another Person (other than a Person that is a Subsidiary) provided that the Company or a Subsidiary is
the surviving entity.

         “Affiliate” means, as to any Person, any other
Person which, directly or indirectly, is in control of, is controlled by, or is under common control with, such Person.
A Person shall be deemed to control another Person if the controlling Person possesses, directly or indirectly, the
power to direct or cause the direction of the management and policies of the other Person, whether through the ownership
of voting securities, by contract, or otherwise.

         “Agent” means Bank One in its capacity as
administrative agent for the Banks hereunder, and any successor agent arising under Section 9.09.

         “Agent-Related Persons” means Bank One in its
capacity as Agent and any successor agent arising under Section 9.09, together with their respective Affiliates

 

1.

	  	(including, in the case of Bank One, J.P. Morgan
Securities Inc.), the Syndication Agent and the Documentation Agents, together with their respective Affiliates, and the
officers, directors, employees, agents and attorneys-in-fact of such Persons and Affiliates. 

	  	        “Agent’s Payment Office” means the address for payments set forth on Schedule 10.02 hereto in relation to the Agent, or such other address as the Agent may from time to time specify. 

	  	        “Aggregate Outstanding Credit Exposure” means, at any time, the aggregate of the Outstanding Credit Exposure of all the Banks. 

	  	        “Agreement” means this 5-Year Revolving Credit Agreement. 

	  	        “Applicable Facility Fee Rate” means, at any time, the percentage rate per annum at which the Facility Fee (as defined in Section 2.12) accrues at such time as set forth in the pricing grid on Annex I. 

	  	        “Applicable Margin” means (i) with respect to Base Rate Committed Loans, the amount set forth below the indicated Level Status opposite the heading “Base Rate Applicable Margin”, (ii) with respect to Offshore Rate Committed Loans, the amount set forth below the indicated Level Status opposite the heading “LIBO Rate Applicable Margin”, and (iii) with respect to Facility LCs, the amount set forth below the indicated Level Status opposite the heading “Commercial LC Fee Rate” or “Standby LC Fee Rate”, as applicable, each such heading as set forth in the pricing grid on Annex I. The Applicable Margin shall automatically change in respect of all Committed Loans then outstanding or as to which a Notice of Borrowing has been delivered as of the date of any public announcement by S&P or Moody’s resulting in a change of Level Status.

	  	        “Applicable Utilization Fee Rate” means, at any time, the percentage rate per annum at which the Utilization Fee (as defined in Section 2.12) accrues at such time as set forth in the pricing grid on Annex I. 

	  	        “Arrangers” means
J.P. Morgan Securities  Inc. and Credit Suisse First Boston.  

	  	        “Assignee” has
the meaning specified  in subsection 10.08(a).  

	  	        “Assignment
and Acceptance” has the  meaning specified in Section 10.08(a).  

	  	        “Attorney Costs” means and includes all reasonable fees and disbursements of any law firm or other external counsel, the reasonable allocated cost of internal legal services and all reasonable disbursements of internal counsel. 

	  	        “Bank” has
the meaning specified  in the introductory clause hereto.

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

	  	        “Bankruptcy
Code” means the Federal  Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et
seq.).  

2.

	  	        “Base Rate” means, for any day, a fluctuating rate of interest per annum equal to (i) the higher of (a) the Prime Rate for such day and (b) the sum of (A) the Federal Funds Effective Rate for such day and (B) one-half of one percent (0.5%) per annum, plus (ii) the then Applicable Margin, changing as and when the Applicable Margin changes. 

	  	        “Base
Rate Committed Loan” means a Committed Loan that bears interest based on the Base Rate. 

	  	        “Bid Borrowing” means a Borrowing hereunder consisting of one or more Bid Loans made to the Company on the same day by one or more Banks. 

	  	        “Bid Loan” means a Loan by a Bank to the Company under Section 2.05, which may be a LIBOR Bid Loan or an Absolute Rate Bid Loan. 

	  	        “Bid Loan Lender” means, in respect of any Bid Loan, the Bank making such Bid Loan to the Company. 

	  	        “Bid
Loan Note” has the meaning specified in Section 2.02. 

	  	        “Borrowing” means a borrowing hereunder consisting of Loans of the same Type (in the case of Committed Loans) made to the Company on the same day by one or more of the Banks under Article II, and may be a Committed Borrowing or a Bid Borrowing and, other than in the case of Base Rate Committed Loans, having the same Interest Period. 

	  	        “Borrowing
Date” means any date on which a Borrowing occurs under Section 2.03. 

	  	        “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks in New York City or Chicago are authorized or required by law to close and, if the applicable Business Day relates to any Offshore Rate Loan, means such a day on which dealings are carried on in the applicable offshore dollar interbank market. 

	  	        “Capital Adequacy Regulation” means any guideline, request or directive of any central bank or other Governmental Authority, or any other law, rule or regulation, whether or not having the force of law, in each case, regarding capital adequacy of any bank or of any corporation controlling a bank. 

	  	        “Closing Date” means the date on which all conditions precedent set forth in Section 4.01 are satisfied or waived by all Banks (or, in the case of subsection 4.01(e), waived by the Person entitled to receive such payment). 

	  	        “Code” means
the Internal Revenue Code of 1986, and regulations promulgated thereunder. 

	  	        “Collateral
Shortfall Amount” means, at any time, an amount equal to the difference of (x) the amount of LC Obligations at
such time, less (y) the amount on 

3.

	  	deposit in the Facility LC Collateral Account at such
time which is free and clear of all rights and claims of third parties and has not been applied against the Obligations.

	  	        “Combined Commitment” means the sum of (i) the aggregate of the Commitments of all Banks hereunder plus (ii) the aggregate of the “Commitments” of all “Banks” under (and as such terms are defined in) the 2004 364-Day Credit Agreement. 

	  	        “Combined Utilized Amount” means, for any date, the sum of (i) the Aggregate Outstanding Credit Exposure (including all Bid Loans) as of such date, plus (ii) the aggregate principal amount of all outstanding “Loans” (including all “Bid Loans”) as of such date under (and as defined in) the 2004 364-Day Credit Agreement. 

	  	        “Commitment”,
as to each Bank, has  the meaning specified in Section 2.01.  

	  	        “Committed Borrowing” means a Borrowing hereunder consisting of Committed Loans made on the same day by the Banks ratably according to their respective Pro Rata Shares and, in the case of Offshore Rate Committed Loans, having the same Interest Periods. 

	  	        “Committed Loan” means a Loan by a Bank to the Company under Section 2.01, and may be an Offshore Rate Committed Loan or a Base Rate Committed Loan (each, a “Type” of Committed Loan). 

	  	        “Committed
Loan Note” has the meaning  specified in Section 2.02.  

	  	        “Competitive Bid” means an offer by a Bank to make a Bid Loan in accordance with subsection 2.06(c). 

	  	        “Competitive
Bid Request” has the  meaning specified in subsection 2.06(a).  

	  	        “Compliance
Certificate” means a  certificate substantially in the form of Exhibit A.  

	  	        “Contingent
Obligation” means, as applied to any Person, any material direct or indirect liability of that Person with
respect to any Indebtedness, lease, dividend, Surety Instrument or other obligation (the “primary
obligations”) of another Person (the “primary obligor”), including any obligation of that Person, whether
or not contingent, (a) to purchase, repurchase or otherwise acquire such primary obligations or any property
constituting direct or indirect security therefor, or (b) to advance or provide funds (i) for the payment or
discharge of any such primary obligation, or (ii) to maintain working capital or equity capital of the primary
obligor or otherwise to maintain the net worth or solvency or any balance sheet item, level of income or financial
condition of the primary obligor, or (c) 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 (d) otherwise to assure or hold harmless the holder of any such primary obligation against loss in
respect thereof; in each case (a), (b), (c) or (d), including arrangements wherein the rights and remedies of
the holder of the primary obligation are limited to repossession or sale of certain property of such Person. The amount
of any Contingent Obligation shall be deemed equal to the lesser of (x) the 

4.

	  	
stated
or determinable amount of the primary obligation in respect of which such Contingent
 Obligation is made or, if not stated or if indeterminable, the maximum reasonably
anticipated liability  in respect thereof, or (y) any limitation of such Contingent
Obligation contained in the instrument  or agreement creating such Contingent Obligation.  

	  	        “Contractual Obligation” means, as to any Person, any provision either of any security issued by such Person or of any agreement, undertaking, contract, indenture, mortgage, deed of trust or other instrument, document or agreement to which such Person is a party or by which it or any of its property is bound and which in either case is material to such Person. 

	  	        “Conversion/Continuation Date” means any date on which, under Section 2.04, the Company (a) converts Committed Loans of one Type to another Type, or (b) continues Committed Loans of the same Type, but with a new Interest Period, in the case of Committed Loans having Interest Periods expiring on such date. 

	  	        “Credit
Extension” means the making  of a Loan or the issuance of a Facility LC
hereunder.  

	  	        “Credit Extension Date” means the Borrowing Date for a Borrowing or the issuance date for a Facility LC. 

	  	        “Default” means any event or circumstance which, with the giving of notice, the lapse of time, or both, would (if not cured or otherwise remedied during such time) constitute an Event of Default. 

	  	        “Documentation Agents” means The Bank of New York, The Bank of Tokyo-Mitsubishi, Ltd. and Wachovia Bank, National Association, in their capacity as documentation agents for the credit transaction evidenced by this Agreement. 

        “Dollars”, “dollars” and “$”
 each mean lawful money of the United States. 

	  	        “Eligible Assignee” means (i) any Bank party hereto as of the Closing Date, (ii) a commercial bank organized under the laws of the United States, or any state thereof, and having a combined capital and surplus of at least $500,000,000; (iii) a commercial bank organized under the laws of any other country which is a member of the Organization for Economic Cooperation and Development (the “OECD”), or a political subdivision of any such country, and having a combined capital and surplus of at least $500,000,000, provided that such bank is acting through a branch or agency located in the United States; or (iv) a Person that is primarily engaged in the business of commercial banking and that is (A) a Subsidiary of a Bank, (B) a Subsidiary of a Person of which a Bank is a Subsidiary, or (C) a Person of which a Bank is a Subsidiary; provided that any such bank or Person
shall also have senior unsecured long-term debt ratings which are rated at least A- (or the equivalent) as publicly announced by S&P or A3 (or the equivalent) as publicly announced by Moody’s. 

	  	

        “Environmental Claims” means all
 claims, however asserted, by any Governmental Authority or other Person alleging potential liability
 or responsibility for violation of any Environmental Law, or for release or injury to the environment.
 

5.

	  	        “Environmental Laws” means all federal, state or local laws, statutes, common law duties, rules, regulations, ordinances and codes, together with all administrative orders, directed duties, licenses, authorizations and permits of, and agreements with, any Governmental Authorities, in each case relating to environmental, health, safety and land use matters. 

	  	        “ERISA” means the Employee Retirement Income Security Act of 1974, and regulations promulgated thereunder. 

	  	        “ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Company within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

	  	        “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by the Company or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations which is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Company or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Section 4041 or 4041A of ERISA of, or the commencement of proceedings by the PBGC to terminate, a Pension Plan or Multiemployer Plan; (e) an event or condition which might reasonably be expected to constitute grounds
under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA, other than PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Company or any ERISA Affiliate. 

        “Event of Default” means any of the
 events or circumstances specified in Section 8.01. 

	  	        “Exchange Act” means the Securities Exchange Act of 1934, as amended, and regulations promulgated thereunder. 

	  	        “Existing Bridge Credit Agreement” means that certain Bridge Revolving Credit Agreement, dated as of May 24, 2004, by and among the Company, the lenders parties thereto, and Bank One, NA, as administrative agent, as the same may be amended, restated, supplemented or otherwise modified and as in effect from time to time. 

	  	        “Existing Credit Agreements” means, collectively, (i) the Existing 5-Year Credit Agreement, (ii) the 2004 364-Day Credit Agreement, and (iii) the Existing Bridge Credit Agreement. 

	  	

        “Existing 5-Year Credit Agreement”
 means that certain 5-Year Revolving Credit Agreement, dated as of August 19, 2002, by and among the
 Company, the lenders parties thereto and Bank One, NA, as administrative agent, as the same may be amended,
 restated, supplemented or otherwise modified and as in effect from time to time. 

6.

	  	        “Existing 364-Day Credit Agreement” means that certain Amended and Restated 364-Day Revolving Credit Agreement, dated as of August 14, 2003, by and among the Company, the lenders parties thereto and Bank One, NA, as administrative agent, as amended, supplemented or otherwise modified. 

        “Facility Fee” has the meaning specified
 in Section 2.12(a). 

        “Facility LC” is defined in Section
 2.17(a). 

        “Facility LC Application” is defined
 in Section 2.17(c). 

        “Facility LC Collateral Account”
 is defined in Section 2.17(k). 

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

	  	        “FRB” means the Board of Governors of the Federal Reserve System, and any Governmental Authority succeeding to any of its principal functions. 

	  	        “Funded Debt” means as of the date of any determination all outstanding Indebtedness of the Company and its consolidated Subsidiaries which matures more than one (1) year after the incurrence thereof or is extendable, renewable or refundable, at the option of the obligor, to a date more than one (1) year after the incurrence thereof. 

	  	        “GAAP” means generally accepted accounting principles set forth from time to time in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar functions of comparable stature and authority within the U.S. accounting profession). 

	  	        “Governmental Authority” means any nation or government, any state or other political subdivision thereof, any central bank (or similar monetary or regulatory authority) thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, and any governmental regulatory authority or agency such as the FDIC, FRB, IRS or SEC. 

	  	

        “Guarantors” means, collectively,
 NEBS and, if applicable, each Material Subsidiary which becomes a party to the Guaranty pursuant to
 Section 6.13 or Section 7.03. As of the Closing Date the sole Guarantor shall be NEBS. 

7.

	  	        “Guaranty” means that certain Guaranty, dated as of July 22, 2004, made by the Guarantors in favor of the Agent, for the benefit of the Agent and the Banks, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

	  	        “Indebtedness” of any Person means, without duplication, (a) all indebtedness for borrowed money; (b) all obligations issued, undertaken or assumed as the deferred purchase price of property or services (other than trade payables entered into in the ordinary course of business on ordinary terms); (c) all non-contingent reimbursement or payment obligations with respect to Surety Instruments; (d) all obligations evidenced by notes, bonds, debentures or similar instruments, including obligations so evidenced incurred in connection with the acquisition of property, assets or businesses; (e) all recourse indebtedness created or arising under any conditional sale or other title retention agreement, or incurred as financing, in either case with respect to property acquired by the Person; (f) all obligations with respect to capital leases; and (g) all reimbursement obligations with
respect to letters of credit; provided, however, that the term “Indebtedness” shall not include non-recourse obligations or indebtedness of any kind; and provided further, however, that the term “Indebtedness” shall not include any such obligations or indebtedness owing by the Company or any Subsidiary to the Company or any Subsidiary. 

        “Indemnified Liabilities” has the
 meaning specified in Section 10.05. 

        “Indemnified Person” has the meaning
 specified in Section 10.05. 

        “Independent Auditor” has the meaning
 specified in subsection 6.01(a). 

	  	        “Insolvency Proceeding” means with respect to a Person (a) any case, action or proceeding before any court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, or (b) any general assignment for the benefit of creditors, composition, marshalling of assets for creditors generally, or other, similar arrangement in respect of its creditors generally or any substantial portion of its creditors; in each case undertaken under U.S. Federal, state or foreign law, including the Bankruptcy Code. 

	  	        “Interest Payment Date” means, as to any Loan other than a Base Rate Committed Loan, the last day of each Interest Period applicable to such Loan and the Revolving Termination Date, and, as to any Base Rate Committed Loan, the last Business Day of each calendar quarter and the Revolving Termination Date, provided, however, that (a) if any Interest Period for an Offshore Rate Committed Loan exceeds three months, the date that falls three months after the beginning of such Interest Period and after each Interest Payment Date thereafter is also an Interest Payment Date, and (b) as to any Bid Loan, such intervening dates prior to the maturity thereof as may be specified by the Company and agreed to by the applicable Bid Loan Lender in the applicable Competitive Bid shall also be Interest Payment Dates. 

	  	

        “Interest Period” means, (a) as to
 any Offshore Rate Committed Loan, the period commencing on the Business Day such Loan is disbursed,
 or on the Conversion/Continuation Date on which the Loan is converted into or continued as an 

8.

	  	        Offshore
Rate Committed Loan, and ending on the date one, two, three or six months thereafter,  as
selected by the Company in its Notice of Borrowing or Notice of Conversion/Continuation,
as the case  may be; (b) as to any LIBOR Bid Loan, the period commencing on the Business
Day such Loan is disbursed  and ending on the date one, two, three, six, nine or twelve
months thereafter as selected by the Company  in the applicable Competitive Bid Request
and agreed to by the applicable Bid Loan Lender(s); and (c) as  to any Absolute Rate
Bid Loan, a period of not less than 7 days and not more than 364 days as selected  by the
Company in the applicable Competitive Bid Request and agreed to by the applicable Bid
Loan Lender(s);  

        provided that: 

		
    (i)        if any Interest Period
 would otherwise end on a day that is not a Business Day, that Interest Period shall be extended to the
 following Business Day unless, in the case of an Offshore Rate Loan, 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 preceding Business Day; 

		
    (ii)        any Interest Period
 pertaining to an Offshore Rate Loan 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 the calendar month at the end of such Interest Period;
 and 

		
    (iii)        no Interest Period
 for any Loan shall extend beyond the Revolving Termination Date. 

	  	        “Invitation for Competitive Bids” means a solicitation for Competitive Bids, substantially in the form of Exhibit D. 

	  	        “IRS” means the Internal Revenue Service, and any Governmental Authority succeeding to any of its principal functions under the Code. 

        “LC Fee” is defined in Section 2.17(d).
 

	  	        “LC Issuer” means Bank One (or any subsidiary or affiliate of Bank One designated by Bank One) or any other Bank, as applicable, in its respective capacity as issuer of Facility LCs hereunder. 

	  	        “LC Obligations” means, at any time, the sum, without duplication, of (i) the aggregate undrawn stated amount under all Facility LCs outstanding at such time plus (ii) the aggregate unpaid amount at such time of all Reimbursement Obligations. 

        “LC Payment Date” is defined in Section
 2.17(e). 

	  	

        “Lending Office” means, as to any
 Bank, the office or offices of such Bank specified as its “Lending Office” or “Domestic Lending Office”
 or “Offshore Lending Office”, as the case may be, on Schedule 10.02, or such other office
 or offices as such Bank may from time to time notify the Company and the Agent. 

9.

        “Level I Status” has the meaning
 specified in Annex I. 

        “Level
II Status” has the meaning specified in Annex I. 

        “Level III Status” has the meaning
 specified in Annex I. 

        “Level IV Status” has the meaning
 specified in Annex I. 

        “Level V Status” has the meaning
 specified in Annex I. 

	  	        “Level
Status” means Level I Status, Level II Status, Level III Status, Level
IV Status or Level V Status (as such terms are defined in Annex I), as
applicable at any time. 

	  	        “LIBO Base Rate” for any Interest Period, with respect to each LIBOR Bid Loan in any Bid Borrowing or each Offshore Rate Committed Loan comprising part of the same Committed Borrowing, means, for the relevant Interest Period, the applicable British Bankers’ Association Interest Settlement Rate for deposits in Dollars as reported by any generally recognized financial information service as of 11:00 a.m. (London time) two (2) Business Days prior to the first day of such Interest Period, and having a maturity equal to such Interest Period; provided that if no such British Bankers’ Association Interest Settlement Rate is available, the applicable LIBO Base Rate for the relevant Interest Period shall instead be the rate determined by the Agent to be the rate at which Bank One offers to place deposits in Dollars with first class banks in the London interbank market at approximately 11:00 a.m. (London
time) two (2) Business Days prior to the first day of such Interest Period, in the approximate amount of Bank One’s relevant Eurodollar Loan, and having a maturity equal to such Interest Period. 

	  	        “LIBO Rate” means, with respect to each LIBOR Bid Loan in any Bid Borrowing or Offshore Rate Committed Loan comprising part of the same Committed Borrowing for the relevant Interest Period, the sum of (i) the quotient of (a) the LIBO Base Rate applicable to such Interest Period, divided by (b) one minus the Reserve Requirement (expressed as a decimal) applicable to such Interest Period, plus (ii) the then Applicable Margin, changing as and when the Applicable Margin changes. 

	  	        “LIBOR Auction” means a solicitation of Competitive Bids setting forth a LIBOR Bid Margin pursuant to Section 2.06. 

        “LIBOR Bid Loan” means any Bid Loan
 that bears interest at a rate based upon the LIBO Rate. 

        “LIBOR Bid Margin” has the meaning
 specified in subsection 2.06(c)(ii)(C). 

	  	        “Lien” means
any security interest,  mortgage, deed of trust, pledge, hypothecation, charge or deposit
arrangement, encumbrance, lien (statutory  or other) or preferential arrangement of any
kind or nature whatsoever in respect of any property (including  those created by,
arising under or evidenced by any conditional sale or other title retention agreement,
 the interest of a lessor under a capital lease, any financing lease having substantially
the same economic  effect as any of the foregoing, or the filing of any financing
statement signed by and naming the owner  of the asset to which such lien  

10.

	  	relates
as debtor, under the Uniform Commercial Code or any comparable law), but not including
 the interest of a lessor under an operating lease.  

	  	        “Loan” means an extension of credit by a Bank to the Company under Article II, and may be a Committed Loan or a Bid Loan. 

	  	        “Loan Documents” means this Agreement, the Facility LC Applications, the Guaranty, any Notes and all other documents, instruments and agreements delivered to the Agent or any Bank in connection herewith. 

	  	        “Majority Banks” means (a) at any time prior to the Revolving Termination Date, Banks then holding greater than 50% of the Commitments, and (b) otherwise, Banks then holding greater than 50% of the then aggregate unpaid principal amount of the Aggregate Outstanding Credit Exposure. 

        “Margin Stock” means “margin stock”
 as such term is defined in Regulation T, U or X of the FRB. 

	  	        “Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the financial condition of the Company and its Subsidiaries taken as a whole; or (b) a material adverse effect upon the legality, validity, binding effect or enforceability against the Company of this Agreement, the Facility LC Applications, the Guaranty or the Notes. 

	  	        “Material Subsidiary” means (a) NEBS, and (b) at any time, any other Subsidiary having at such time either (i) total (gross) revenues for the preceding four fiscal quarter period in excess of 20% of total (gross) revenues of the Company and its consolidated Subsidiaries for such period or (ii) total assets, as of the last day of the preceding fiscal quarter, having a net book value in excess of 20% of the total assets of the Company and its consolidated Subsidiaries as of such day, in each case, based upon the Company’s most recent annual or quarterly financial statements delivered to the Agent under Section 6.01. 

        “Modify” and “Modification”
 are defined in Section 2.17(a). 

        “Moody’s” means Moody’s Investors
 Service, a division of Dun & Bradstreet Corporation. 

	  	        “Multiemployer Plan” means a “multiemployer plan”, within the meaning of Section 4001(a)(3) of ERISA, to which the Company or any ERISA Affiliate makes, is making, or is obligated to make contributions or, during the preceding three calendar years, has made, or been obligated to make, contributions. 

        “NEBS” means New England Business
 Service, Inc., a Delaware corporation. 

        “Notes” means the Committed Loan
 Notes and the Bid Loan Notes. 

        “Notice of Borrowing” means a notice
 in substantially the form of Exhibit B. 

11.

	  	        “Notice
of Conversion/Continuation” means a notice in substantially the form of Exhibit C.
         “Obligations” means
all advances, debts, fees, liabilities, obligations (including, but not limited to,
reimbursement obligations with respect to letters of credit), covenants and duties
arising under this Agreement and the Notes, owing by the Company to any Bank, the LC
Issuer, the Agent, or any Indemnified Person, whether direct or indirect (including those
acquired by assignment), absolute or contingent, due or to become due, now existing or
hereafter arising.  

	  	       “Offshore Rate Committed Loan” means any Committed Loan that bears interest based on the LIBO Rate. 

        “Offshore Rate Loan” means any LIBOR
 Bid Loan or any Offshore Rate Committed Loan. 

	  	        “Organization Documents” means, for any corporation, the certificate or articles of incorporation, the bylaws, any certificate of determination or instrument relating to the rights of preferred shareholders of such corporation, any shareholder rights agreement, and all applicable resolutions of the board of directors (or any committee thereof) of such corporation. 

	  	        “Other Taxes” means any present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies which arise from any payment made hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Agreement or any other Loan Documents. 

	  	        “Outstanding Credit Exposure” means, as to any Bank on any date, the sum of (i) the aggregate principal amount of all Committed Loans and Bid Loans made by such Bank and outstanding as of such date, plus (ii) an amount equal to such Bank’s Pro Rata Share of the LC Obligations on such date. 

        “Participant” has the meaning specified
 in subsection 10.08(d). 

	  	        “PBGC” means the Pension Benefit Guaranty Corporation, or any Governmental Authority succeeding to any of its principal functions under ERISA. 

	  	        “Pension Plan” means a pension plan (as defined in Section 3(2) of ERISA) subject to Title IV of ERISA which the Company sponsors, maintains, or to which it makes, is making, or is obligated to make contributions, or in the case of a multiple employer plan (as described in Section 4064(a) of ERISA) has made contributions at any time during the immediately preceding five (5) plan years. 

        “Permitted Liens” has the meaning
 specified in Section 7.01. 

	  	

        “Person” means an individual, partnership,
 corporation, business trust, joint stock company, trust, unincorporated association, joint venture or
 Governmental Authority. 

12.

	  	        “Plan” means an employee benefit plan (as defined in Section 3(3) of ERISA) which the Company sponsors or maintains or to which the Company makes, is making, or is obligated to make contributions and includes any Pension Plan. 

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

	  	        “Pro Rata Share” means, as to any Bank at any time, the percentage equivalent (expressed as a decimal, rounded to the ninth decimal place) at such time of such Bank’s Commitment divided by the aggregate Commitments hereunder (or, if all Commitments have been terminated, the aggregate principal amount of such Bank’s Outstanding Credit Exposure divided by the Aggregate Outstanding Credit Exposure). The initial Pro Rata Share of each Bank is set forth opposite such Bank’s name in Schedule 2.01 under the heading “Pro Rata Share”. 

	  	        “Reimbursement Obligations” means, at any time, the aggregate of all obligations of the Company then outstanding under Section 2.17 to reimburse the LC Issuers for amounts paid by the LC Issuers in respect of any one or more drawings under Facility LCs. 

	  	        “Replacement
Bank” has the meaning  specified in Section 3.08.  

	  	        “Reportable Event” means, any of the events set forth in Section 4043(b) of ERISA or the regulations thereunder, other than any such event for which the 30-day notice requirement under ERISA has been waived in regulations issued by the PBGC. 

	  	        “Requirement of Law” means, as to any Person, any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or of a Governmental Authority, in each case applicable to or binding upon the Person or any of its property or to which the Person or any of its property is subject. 

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

	  	        “Responsible Officer” means any of the following officers of the Company: the chief executive officer, the chief operating officer, the president, the chief financial officer, the treasurer, the assistant treasurer, or any other officer of the Company having similar authority and responsibility to any of the foregoing. 

	  	        “Revolving
Termination Date” means  the earlier to occur of:  

	  	        (a)       
July 22, 2009; and 

	  	        (b)        the
date on which  the Commitments terminate in accordance with Section 2.07 or 8.02 of
this Agreement. 

13. 

	  	        “S&P” means
Standard & Poor’s Ratings Services, a division of McGraw-Hill Companies,
Inc.  

	  	        “SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions. 

	  	        “Solvent” means,
when used with respect  to any Person, that at the time of determination:  

	  	        (i)        the
fair value of  its assets (both at fair valuation and at present fair saleable value, it
being recognized that such  determination shall not be made based on the book value of
such assets as determined in accordance with  GAAP) is equal to or in excess of the total
amount of its liabilities, including, without limitation,  contingent liabilities; and

	  	        (ii)        it
is then able and  expects to be able to pay its debts as they mature; and  

	  	        (iii)        it
has capital sufficient  to carry on its business as conducted and as proposed to be
conducted. 

	  	        For purposes of this definition of “Solvent”, with respect to contingent liabilities (such as litigation, guarantees and pension plan liabilities), such liabilities shall be computed at the amount which, in light of all the facts and circumstances existing at the time, represent the amount which can be reasonably be expected to become an actual or matured liability. 

	  	        “Subsidiary” of a Person means any corporation, association, partnership, limited liability company, joint venture or other business entity of which more than 60% of the voting stock, membership interests or other equity interests (in the case of Persons other than corporations), is owned or controlled directly or indirectly by the Person, or one or more of the Subsidiaries of the Person, or a combination thereof. Unless the context otherwise clearly requires, references herein to a “Subsidiary” refer to a Subsidiary of the Company. 

	  	        “Surety Instruments” means all letters of credit (including standby and commercial), banker’s acceptances, bank guaranties, shipside bonds, surety bonds and similar instruments. 

	  	        “Syndication Agent” means Credit Suisse First Boston, in its capacity as syndication agent for the credit transaction evidenced by this Agreement. 

	  	

        “Taxes” means any and all present
 or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect
 thereto, excluding, in the case of each Bank and the Agent, such taxes (including income taxes or franchise
 taxes) as are imposed on or measured by each Bank’s net income by the jurisdiction (or any political
 subdivision thereof) under the laws of which such Bank or the Agent, as the case may be, is organized
 or maintains a lending office; provided, however, that “Taxes” shall be limited to taxes,
 levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, which
 are imposed by any Governmental Authority in the United 

14.

	  	
States
unless the Company makes any payments hereunder with funds derived from sources outside
 the United States.  

	  	        “2004 364-Day Credit Agreement” means that certain 364-Day Revolving Credit Agreement, dated as of July 22, 2004, by and among the Company, the lenders parties thereto, and Bank One, NA, as administrative agent, as the same may be amended, restated, supplemented or otherwise modified and as in effect from time to time. 

	  	        “Type” has
the meaning specified  in the definition of “Committed Loan.” 

	  	        “Unfunded Pension Liability” means the excess of a Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. 

        “United States” and “U.S.”
 each means the United States of America. 

        “Utilization Fee” has the meaning
 specified in Section 2.12(b). 

	  	        “Wholly-Owned Subsidiary” means any corporation in which (other than directors’ qualifying shares or similar nominal shares required by law) 100% of the capital stock of each class having ordinary voting power, and 100% of the capital stock of every other class, in each case, at the time as of which any determination is being made, is owned, beneficially and of record, by the Company, or by one or more of the other Wholly-Owned Subsidiaries, or both. 

	  	        1.02    Other Interpretive Provisions. 

	  	
                      (a)    Defined
Terms.   Unless otherwise specified herein or therein, all terms defined in this Agreement shall have
the defined meanings when used in any certificate or other document made or delivered pursuant hereto. The meaning of
defined terms shall be equally applicable to the singular and plural forms of the defined terms. Terms (including
uncapitalized terms) not otherwise defined herein and that are defined in the UCC shall have the meanings therein
described.

                      (b)    The
Agreement.   The words “hereof”, “herein”, “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 subsection, section, schedule and exhibit references are to this Agreement unless otherwise
specified.

                      
(c)    Certain Common Terms. 

	  	        (i)    The
term “documents” includes any and all instruments, documents, agreements, certificates, indentures, notices
and other writings, however evidenced. 

	  	        (ii)    The
term “including” is not limiting and means “including without limitation.” 

15. 

	  	
                      
(d)    Performance; Time.   Whenever any performance obligation hereunder
shall be stated to be due or required to be satisfied on a day other than a Business Day, such performance shall be made
or satisfied on the next succeeding Business Day. In the computation of periods of time from a specified date to a later
specified date, the word “from” means “from and including”; the words “to” and
“until” each mean “to but excluding”, and the word “through” means “to and
including.” If any provision of this Agreement refers to any action taken or to be taken by any Person, or which
such Person is prohibited from taking, such provision shall be interpreted to encompass any and all reasonable means,
direct or indirect, of taking, or not taking, such action. 

	  	
                      
(e)    Contracts.   Unless otherwise expressly provided herein, references to
agreements and other contractual instruments shall be deemed to include all subsequent amendments and other
modifications thereto, but only to the extent such amendments and other modifications are not prohibited by the terms of
any Loan Document. 

	  	
                      
(f)    Laws.   References to any statute or regulation are to be construed as
including all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting the
statute or regulation. 

	  	
                      
(g)    Captions.   The captions and headings of this Agreement are for
convenience of reference only and shall not affect the interpretation of this Agreement. 

	  	
                      
(h)    Independence of Provisions.   The parties acknowledge that this
Agreement and other Loan Documents may use several different limitations, tests or measurements to regulate the same or
similar matters, and that such limitations, tests and measurements are cumulative and must each be performed, except as
expressly stated to the contrary in this Agreement. 

	  	        1.03    Accounting Principles. 

	  	
                      
(a)    Unless the context otherwise clearly requires, all accounting terms not expressly defined
herein shall be construed, and all financial computations required under this Agreement shall be made, in accordance
with GAAP, consistently applied.

                      
(b) References herein to “fiscal year” and “fiscal quarter” refer
 to such fiscal periods of the Company.

ARTICLE II 

THE CREDITS 

	  	        2.01    The Revolving Credit. 

	  	        Each
Bank severally agrees, on the terms and conditions set forth herein, to make Committed Loans to, and participate in
Facility LCs issued upon the application of, the Company from time to time on any Business Day during the period from
the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the
amount set forth on Schedule 2.01 (such an amount as the same may be reduced or increased under
Section 2.07 or extended under Section 2.09 or changed as a result of one or more assignments 

16.

	  	under Section 10.08, such Bank’s
“Commitment”); provided, however, that, the Aggregate Outstanding Credit Exposure
(including all Bid Loans) shall not at any time exceed the aggregate Commitments hereunder. Within the limits of each
Bank’s Commitment, at any time prior to the Revolving Termination Date and subject to the other terms and
conditions hereof, the Company may borrow under this Section 2.01, prepay under Section 2.08 and reborrow
under this Section 2.01. The LC Issuers will issue Facility LCs hereunder on the terms and conditions set forth in
Section 2.17. 

	  	        2.02    Loan
Accounts; Notes. 

	  	
                      
(a)    The Committed Loans, the LC Obligations and the Bid Loans made by each Bank shall be
evidenced by one or more loan accounts or records maintained by such Bank in the ordinary course of business. The loan
accounts or records maintained by the Agent and each Bank shall be prima facie evidence of the amount of the Loans and
Facility LCs made by the Banks and the LC Issuers, respectively, to the Company and the interest and payments thereon.
Any failure so to record or any error in doing so shall not, however, limit or otherwise affect the obligation of the
Company hereunder to pay any amount owing with respect to the Loans and Facility LCs.

                      
(b)    If requested by any Bank, the Company shall execute and deliver to such Bank a promissory
note evidencing such Bank’s Committed Loans (each a “Committed Loan Note”) and a promissory note
evidencing such Bank’s Bid Loans (each a “Bid Loan Note”, and collectively, the
“Notes”) (each such Committed Loan Note to be substantially in the form of Exhibit G-1, and each
such Bid Loan Note to be substantially in the form of Exhibit G-2). Each Bank shall endorse on the schedule
annexed to its Note the date, amount and maturity of each Loan made by it and the amount of each payment of principal
made by the Company with respect thereto. Each such Bank is irrevocably authorized by the Company to endorse its Note
and each Bank’s record shall be prima facie evidence of the amount of each such Loan; provided,
however, that the failure of a Bank to make, or an error in making, a notation thereon with respect to any Loan
shall not limit or otherwise affect the obligations of the Company hereunder or under any such Note to such Bank.

	  	        2.03    Procedure for Committed Borrowing. 

	  	
                      
(a)    Each Committed Borrowing shall be made upon the Company’s irrevocable written notice
delivered to the Agent in the form of a Notice of Borrowing (which notice must be received by the Agent (i) prior
to 10:00 a.m. (Chicago time) three Business Days prior to the requested Borrowing Date, in the case of Offshore Rate
Committed Loans; and (ii) prior to 10:00 a.m. (Chicago time) on the requested Borrowing Date, in the case of Base
Rate Committed Loans, specifying: 

	  	        (A)    the
amount of the Committed Borrowing, which shall be in an aggregate minimum amount of $5,000,000 or any multiple of
$1,000,000 in excess thereof; 

	  	        (B)    the
requested Borrowing Date, which shall be a Business Day; 

17.

	  	        (C)    the
Type of Committed Loans comprising the Committed Borrowing; and 

	  	        (D)    if
the Committed Loans consist of Offshore Rate Committed Loans, the duration of the Interest Period applicable to such
Committed Loans included in such notice. If the Notice of Borrowing fails to specify the duration of the Interest Period
for any Committed Borrowing comprised of Offshore Rate Committed Loans, such Interest Period shall be one month. 

	  	
                      
(b)    The Agent will promptly notify each Bank of its receipt of any Notice of Borrowing and of the
amount of such Bank’s Pro Rata Share of that Committed Borrowing. 

	  	
                      
(c)    Each Bank will make the amount of its Pro Rata Share of each Committed Borrowing available to
the Agent for the account of the Company at the Agent’s Payment Office by 12:00 noon (Chicago time) on the
Borrowing Date requested by the Company in funds immediately available to the Agent. Any such amount which is received
later than 12:00 noon (Chicago time) shall be deemed to have been received on the immediately succeeding Business Day.
The proceeds of each such Committed Borrowing will then be made available to the Company by the Agent at such office by
crediting the account of the Company on the books of Bank One for the aggregate of the amounts made available to the
Agent by the Banks and in like funds as received by the Agent, or if requested by the Company, by wire transfer in
accordance with written instructions provided to the Agent by the Company of such funds as received by the Agent, unless
on the date of the Committed Borrowing all or any portion of the proceeds thereof shall then be required to be applied
to the repayment of any outstanding Loans, in which case such proceeds or portion thereof shall be applied to the
payment of such Loans. 

	  	
                      
(d)    After giving effect to any Committed Borrowing, there may not be more than eight (8)
different Interest Periods in effect in respect of all Committed Loans and Bid Loans together then outstanding. 

	  	        2.04    Conversion
and Continuation Elections for Committed Borrowings. 

	  	
                      
(a)    The Company may, upon irrevocable written notice to the Agent in accordance with subsection 2.04(b):  

	  	        (i)    elect,
as of any Business Day, in the case of Base Rate Committed Loans, or as of the last day of the applicable Interest
Period, in the case of Offshore Rate Committed Loans, to convert any such Committed Borrowings (or any part thereof in
an amount not less than $5,000,000, or that is in an integral multiple of $1,000,000 in excess thereof) into Committed
Borrowings of the other Type; or 

	  	        (ii)    elect,
as of the last day of the applicable Interest Period, to continue any Committed Borrowings having Interest Periods
expiring on such day (or any part thereof in an amount not less than $5,000,000, or that is in an integral multiple of
$1,000,000 in excess thereof); 

	  	provided, that if at any time the aggregate
amount of Offshore Rate Committed Loans in respect of any Committed Borrowing is reduced, by payment, prepayment, or
conversion of part thereof 

18.

	  	to be less than $1,000,000, such Offshore Rate Committed
Loans shall automatically convert into Base Rate Committed Loans, and on and after such date the right of the Company to
continue such Committed Loans as, and convert such Committed Loans into, Offshore Rate Committed Loans shall terminate.

	  	
                      
(b)    The Company shall deliver a Notice of Conversion/Continuation to be received by the Agent not
later than (i) 10:00 a.m. (Chicago time) at least three Business Days in advance of the Conversion/Continuation
Date, if the Committed Borrowings are to be converted into or continued as Offshore Rate Committed Loans; and
(ii) 10:00 a.m. (Chicago time) on the Conversion/Continuation Date, if the Loans are to be converted into Base Rate
Committed Loans, specifying: 

	  	        (A)    the
proposed Conversion/Continuation Date; 

	  	        (B)    the
aggregate amount of Committed Loans to be converted or continued; 

	  	        (C)    the
Type of Committed Loans resulting from the proposed conversion or continuation; and 

	  	        (D)    other
than in the case of conversions into Base Rate Committed Loans, the duration of the requested Interest Period. 

	  	
                      
(c)    If upon the expiration of any Interest Period applicable to Offshore Rate Committed Loans,
the Company has failed to select timely a new Interest Period to be applicable to such Loans in accordance with
Section 2.04(b), or if any Event of Default then exists, the Company shall be deemed to have elected to convert
such Offshore Rate Committed Loans into Base Rate Committed Loans effective as of the expiration date of such Interest
Period. 

	  	
                      
(d)    The Agent will promptly notify each Bank of its receipt of a Notice of
Conversion/Continuation, or, if no timely notice is provided by the Company, the Agent will promptly notify each Bank of
the details of any automatic conversion. All conversions and continuations shall be made ratably according to the
respective outstanding principal amounts of the Committed Loans with respect to which the notice was given held by each
Bank. 

	  	
                      
(e)    Unless the Majority Banks otherwise agree, during the existence of an Event of Default, the
Company may not elect to have a Committed Loan made as, converted into or continued as, an Offshore Rate Committed Loan.

	  	
                      
(f)    Unless otherwise agreed to by the Agent, after giving effect to any conversion or
continuation of Committed Loans, there may not be more than eight (8) different Interest Periods in effect in respect of
all Committed Loans and Bid Loans together then outstanding. 

	  	        2.05    Bid
Borrowings.   In addition to Committed Borrowings, each Bank severally agrees that the Company may,
as set forth in Section 2.06, from time to time request the Banks prior to the Revolving Termination Date to submit
offers to make Bid Loans to the Company; provided, however, that the Banks may, but shall have no
obligation to, submit such offers and the Company may, but shall have no obligation to, accept any such offers; and
provided, further, 

19.

	  	that at no time shall (a) the outstanding aggregate
principal amount of all Bid Loans made by all Banks, plus the outstanding aggregate principal amount of (i) all
Committed Loans made by all Banks and (ii) the LC Obligations exceed the combined Commitments; or (b) the number of
Interest Periods for Bid Loans then outstanding plus the number of Interest Periods for Committed Loans then outstanding
exceed eight (8) unless agreed by the Agent. 

	  	        2.06    Procedure
for Bid Borrowings.   The Company may, as set forth in this Section, request the Agent to solicit
offers from all the Banks to make Bid Loans. 

	  	
                      
(a)    When the Company wishes to request the Banks to submit offers to make Bid Loans hereunder, it
shall transmit to the Agent by telephone call followed promptly by facsimile transmission a notice in substantially the
form of Exhibit E (a “Competitive Bid Request”) so as to be received no later than 10:00
a.m. (Chicago time) (x) four Business Days prior to the date of a proposed Bid Borrowing in the case of a LIBOR
Auction, or (y) one Business Day prior to the date of a proposed Bid Borrowing in the case of an Absolute Rate
Auction, specifying: 

	  	        (i)    the
date of such Bid Borrowing, which shall be a Business Day; 

	  	        (ii)    the
aggregate amount of such Bid Borrowing, which shall be a minimum amount of $5,000,000 or in multiples of $1,000,000 in
excess thereof; 

	  	        (iii)    whether
the Competitive Bids requested are to be for LIBOR Bid Loans or Absolute Rate Bid Loans or both; and 

	  	        (iv)    the
duration of the Interest Period applicable thereto, subject to the provisions of the definition of “Interest
Period” herein. 

	  	Subject to subsection 2.06(c), the Company may not
request Competitive Bids for more than three Interest Periods in a single Competitive Bid Request and may not request
Competitive Bids more than once in any period of five Business Days. 

	  	
                      
(b)    Upon receipt of a Competitive Bid Request, the Agent will promptly send to the Banks by
facsimile transmission an Invitation for Competitive Bids, which shall constitute an invitation by the Company to each
Bank to submit Competitive Bids offering to make the Bid Loans to which such Competitive Bid Request relates in
accordance with this Section 2.06. 

	  	
                      

(c)    (i) Each Bank may at its discretion submit a Competitive Bid containing an offer or offers to
make Bid Loans in response to any Invitation for Competitive Bids. Each Competitive Bid must comply with the
requirements of this subsection 2.06(c) and must be submitted to the Agent by facsimile transmission at its offices
specified in or pursuant to Section 10.02 not later than (1) 10:00 a.m. (Chicago time) three Business Days
prior to the proposed date of Borrowing, in the case of a LIBOR Auction or (2) 10:00 a.m. (Chicago time) on the
proposed date of Borrowing, in the case of an Absolute Rate Auction; provided that Competitive Bids by Bank One
(or any Affiliate of Bank One) may only be submitted if Bank One or such Affiliate notifies the Company of the terms of
the offer or offers contained therein not later than (A) 10:00 a.m. (Chicago time) three Business Days prior to the
proposed date of Borrowing, in the case of a LIBOR Auction or (B) 10:00 a.m. (Chicago time) on the proposed
date of Borrowing, in the case of an Absolute Rate Auction. 

20.

	  	        (ii)    Each
Competitive Bid shall be in substantially the form of Exhibit F, specifying therein: 

	  	                        
(A)    the proposed date of Borrowing;

                        
(B)   the principal amount of each Bid Loan for which such Competitive Bid is being made, which principal
amount (x) may be equal to, greater than or less than the Commitment of the quoting Bank, (y) must be
$5,000,000 or in multiples of $1,000,000 in excess thereof, and (z) may not exceed the principal amount of Bid
Loans for which Competitive Bids were requested; 

                        
(C)    in case the Company elects a LIBOR Auction, the margin above or below the LIBO Rate
(exclusive of the Applicable Margin) (the “LIBOR Bid Margin”) offered for each such Bid Loan, expressed
in multiples of 1/1000th of one basis point to be added to or subtracted from the applicable LIBO Rate (exclusive of the
Applicable Margin) and the Interest Period applicable thereto;

                        
(D)    in case the Company elects an Absolute Rate Auction, the rate of interest per annum expressed
in multiples of 1/1000th of one basis point (the “Absolute Rate”) offered for each such Bid Loan and
the Interest Period applicable thereto; and 

                        
(E)    the identity of the quoting Bank.

                        
(F)    a Competitive Bid may contain up to three separate offers by the quoting Bank with respect to
each Interest Period specified in the related Invitation for Competitive Bids. 

	  	        (iii)    Any
Competitive Bid shall be disregarded if it: 

	  	
        
        
        (A)    is not substantially in conformity with Exhibit F or does not specify
all of  the information required by subsection (c)(ii) of this Section;

        
        
        (B)    contains qualifying, conditional or similar language;

        
        
        (C)    proposes terms other than or in addition to those set forth in the applicable Invitation
for Competitive Bids; or 

        
        
        (D)    arrives after the time set forth in subsection (c)(i). 

	  	
                      
(d)    Promptly on receipt and not later than 9:00 a.m. (Chicago time) three Business Days prior to
the proposed date of Borrowing, in the case of a LIBOR Auction, or 9:00 a.m. (Chicago time) on the proposed date of
Borrowing, in the case of an Absolute Rate Auction, the Agent will notify the Company of the terms (i) of any
Competitive Bid submitted by a Bank that is in accordance with subsection 2.06(c), and (ii) of any Competitive
Bid that amends, modifies or is otherwise inconsistent with a previous Competitive Bid submitted by such Bank with
respect to the same Competitive Bid Request. Notwithstanding the foregoing, any such subsequent 

21. 

	  	Competitive Bid shall be disregarded by the Agent unless
such subsequent Competitive Bid is submitted solely to correct a manifest error in such former Competitive Bid and only
if received within the times set forth in subsection 2.06(c). The Agent’s notice to the Company shall specify
(1) the aggregate principal amount of Bid Loans for which offers have been received for each Interest Period
specified in the related Competitive Bid Request; (2) the respective principal amounts and LIBOR Bid Margins or
Absolute Rates, as the case may be, so offered; and (3) any other information regarding such Competitive Bid
reasonably requested by the Company. Subject only to the provisions of Sections 3.02, 3.05 and 4.02 hereof and the
provisions of this subsection (d), any Competitive Bid shall be irrevocable except with the written consent of the
Agent given on the written instructions of the Company. 

	  	
                      
(e)    Not later than 10:00 a.m. (Chicago time) three Business Days prior to the proposed date of
Borrowing, in the case of a LIBOR Auction, or 10:00 a.m. (Chicago time) on the proposed date of Borrowing, in the case
of an Absolute Rate Auction, the Company shall notify the Agent, in writing and in a form reasonably acceptable to the
Agent, of its acceptance or non-acceptance of the offers received by it pursuant to subsection 2.06(c) or notified
to it pursuant to subsection 2.06(d). The Company shall be under no obligation to accept any offer and may choose
to accept or reject some or all offers. In the case of acceptance, such notice shall specify the aggregate principal
amount of offers for each Interest Period that is accepted. The Company may accept any Competitive Bid in whole or in
part; provided that: 

	  	        (i)    the
aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related
Competitive Bid Request; 

	  	        (ii)    the
principal amount of each Bid Borrowing must be $5,000,000 or in any multiple of $1,000,000 in excess thereof; 

	  	        (iii)    acceptance
of offers may only be made on the basis of ascending LIBOR Bid Margins or Absolute Rates within each Interest Period, as
the case may be; and 

	  	        (iv)    the
Company may not accept any offer that is described in subsection 2.06(c)(iii) or that otherwise fails to
comply with the requirements of this Agreement. 

	  	
                      
(f)    If offers are made by two or more Banks with the same LIBOR Bid Margins or Absolute Rates, as
the case may be, for a greater aggregate principal amount than the amount in respect of which such offers are accepted
for the related Interest Period, the principal amount of Bid Loans in respect of which such offers are accepted shall be
allocated by the Agent among such Banks (in such multiples, not less than $1,000,000, as the Agent may deem appropriate)
as nearly as practicable in proportion to the aggregate principal amounts of such offers. Determination by the Agent of
the amounts of Bid Loans shall be conclusive in the absence of manifest error. 

	  	
                      
(g)    (i) The Agent will promptly notify each Bank having submitted a Competitive Bid if its offer
has been accepted and, if its offer has been accepted, of the amount of the Bid Loan or Bid Loans to be made by it on
the date of the Bid Borrowing. 

	  	        (ii)    Each
Bank, which has received notice pursuant to subsection 2.06(g)(i) that its Competitive Bid has been accepted,
shall make the amounts 

22. 

	  	of such Bid Loans available to the Agent for the account
of the Company at the Agent’s Payment Office, by 11:00 a.m. (Chicago time) in the case of Absolute Rate Bid
Loans, and by 11:00 a.m. (Chicago time) in the case of LIBOR Bid Loans, on such date of Bid Borrowing, in funds
immediately available to the Agent for the account of the Company at the Agent’s Payment Office. 

	  	        (iii)    Promptly
following each Bid Borrowing, the Agent shall notify each Bank of the ranges of bids submitted and the highest and
lowest bids accepted for each Interest Period requested by the Company and the aggregate amount borrowed pursuant to
such Bid Borrowing. 

	  	
                      
(h)    If, on or prior to the proposed date of Borrowing, the Commitments have not been terminated
and if, on such proposed date of Borrowing all applicable conditions to funding referenced in Sections 3.02, 3.05
and 4.02 hereof are satisfied, the Bank or Banks whose offers the Company has accepted will fund each Bid Loan so
accepted. Nothing in this Section 2.06 shall be construed as a right of first offer in favor of the Banks or to
otherwise limit the ability of the Company to request and accept credit facilities from any Person (including any of the
Banks), provided that such credit facilities are not prohibited by this Agreement. 

	  	        2.07    Termination
or Reduction of Commitments; Increase of Commitments. 

	  	
                      
(a)     The Company may, upon not less than three Business Days’ prior notice to the Agent,
terminate the Commitments, or permanently reduce the Commitments by an aggregate minimum amount of $5,000,000 or any
multiple of $1,000,000 in excess thereof; unless, after giving effect thereto and to any payments or prepayments
of Committed Loans and Reimbursement Obligations made on the effective date thereof, the then-Aggregate Outstanding
Credit Exposure would exceed the amount of the aggregate Commitments then in effect. The Agent shall promptly notify the
Banks of any such termination or reduction. Once reduced in accordance with this Section, the Commitments may not be
increased. Any reduction of the Commitments shall be applied to each Bank according to its Pro Rata Share. All accrued
Facility Fees to, but not including the effective date of any reduction or termination of Commitments, shall be paid on
the effective date of such reduction or termination. 

	  	
                      
(b)     At any time prior to the Revolving Termination Date the Company may, on the terms set forth
below, request that the Commitments hereunder and the “Commitments” under (and as defined in) the 2004 364-Day
Credit Agreement be increased on a pro rata basis by an aggregate amount up to $75,000,000; provided, however, that (i)
an increase in the Commitments hereunder may only be made at a time when no Default or Unmatured Default shall have
occurred and be continuing and (ii) in no event shall the Combined Commitment exceed $400,000,000 in the aggregate. In
the event of such a requested increase in the Commitments, any financial institution which the Company and the Agent
invite to become a Bank or to increase its Commitment may set the amount of its Commitment at a level agreed to by the
Company and the Agent. In the event that the Company and one or more of the Banks (or other financial institutions)
shall agree upon such an increase in the Commitments (i) the Company, the Agent and each Bank or other financial
institution increasing its Commitment or extending a new Commitment shall enter into an amendment to this Agreement
setting forth the amounts of the Commitments, as so increased, providing that the financial institutions extending new
Commitments shall be Banks for all purposes under this Agreement, and setting forth such 

23. 

	  	additional provisions as the Agent and the Company shall
consider reasonably appropriate and (ii) the Company shall furnish, if requested, new Notes to each financial
institution that is extending a new Commitment or increasing its Commitment. No such amendment shall require the
approval or consent of any Bank whose Commitment is not being increased. Upon the execution and delivery of such
amendment as provided above, and upon satisfaction of such other conditions as the Agent may reasonably specify upon the
request of the financial institutions that are extending new Commitments (including, without limitation, the Agent
administering the reallocation of any outstanding Loans (other than Bid Loans) ratably among the Banks after giving
effect to each such increase in the Commitments, and the delivery of certificates, evidence of corporate authority and
legal opinions on behalf of the Company), this Agreement shall be deemed to be amended accordingly. 

	  	        2.08    Optional
Prepayments. 

	  	
                      
(a)     Subject to Section 3.04, the Company may, at any time or from time to time, upon not
less than three Business Days’ irrevocable notice to the Agent, in the case of Offshore Rate Committed Loans, or
upon not less than one Business Day’s irrevocable notice to the Agent, in the case of Base Rate Committed Loans,
ratably prepay such Loans in whole or in part, in minimum amounts of $5,000,000 or any multiple of $1,000,000 in excess
thereof. Such notice of prepayment shall specify the date and amount of such prepayment and the Type(s) of Committed
Loans to be prepaid. The Agent will promptly notify each Bank of its receipt of any such notice, and of such Bank’s
Pro Rata Share of such prepayment. If such notice is given by the Company, the Company shall make such prepayment and
the payment amount specified in such notice shall be due and payable on the date specified therein, together with
accrued interest thereon to each such date on the amount prepaid and any amounts required pursuant to Section 3.04;
provided that if the Company shall fail to make any such payment on the date specified therein, such failure
shall not constitute an Event of Default hereunder, and if the Committed Loan is a Base Rate Committed Loan such Loan
shall continue as if such prepayment notice had not been given, and if the Committed Loan is an Offshore Rate Committed
Loan such Loan shall be automatically converted to a Base Rate Committed Loan as of the date specified in such notice.

	  	
                      
(b)     Bid Loans may not be voluntarily prepaid.  

	  	        2.09    [RESERVED]. 

	  	        2.10    Repayment.   The
Company shall repay to the Banks on the Revolving Termination Date the Aggregate Outstanding Credit Exposure and all
other unpaid Obligations on such date. The Company shall repay each Offshore Rate Committed Loan and each Bid Loan on
the last day of the relevant Interest Period. 

	  	        2.11   Interest. 

	  	
                      
(a)     Each Committed Loan shall bear interest on the outstanding principal amount thereof from the
applicable Borrowing Date at a rate per annum equal to the LIBO Rate or the Base Rate, as the case may be (and subject
to the Company’s right to convert to other Types of Loans under Section 2.04). Each Bid Loan shall bear
interest on the outstanding principal amount thereof from the relevant Borrowing Date at a rate per annum equal to the

24. 

	  	LIBO Rate (exclusive of the Applicable Margin) plus (or
minus) the LIBOR Bid Margin, or at the Absolute Rate, as the case may be. 

	  	
                      
(b)     Interest on each Loan shall be paid in arrears on each Interest Payment Date. Interest shall
also be paid on the date of any prepayment of Committed Loans (except in the case of a Base Rate Committed Loan, as to
which such interest shall be paid on the next Interest Payment Date) under Section 2.08 for the portion of the
Loans so prepaid and upon payment (including prepayment) in full thereof. 

	  	
                      
(c)     Notwithstanding subsection (a) of this Section, after acceleration or the occurrence
and continuation of an Event of Default under Section 8.01(a) or (c), or commencing five (5) days after the
occurrence and continuation of any other Event of Default, (i) the Company shall pay interest (after as well as before
entry of judgment thereon to the extent permitted by law) on the principal amount of all outstanding Obligations, at a
rate per annum which is determined by adding 2% per annum to the Applicable Margin then in effect for such Loans, (ii)
the LC Fee shall be increased by 2% per annum, and (iii) in the case of all other Obligations not subject to an
Applicable Margin, at a rate per annum equal to the Base Rate plus 2%; provided, however, that, on and
after the expiration of any Interest Period applicable to any Offshore Rate Loan outstanding on the date of occurrence
of such Event of Default or acceleration, the principal amount of such Loan shall, after the expiration of such Interest
Period and during the continuation of such Event of Default or after acceleration, bear interest at a rate per annum
equal to the Base Rate plus 2%. Interest payable under this subsection 2.11(c) shall be payable on demand by the
Majority Banks or the applicable Bid Loan Lender, as the case may be. 

	  	
                      
(d)     Anything herein to the contrary notwithstanding, the obligations of the Company to any Bank
hereunder shall be subject to the limitation that payments of interest shall not be required for any period for which
interest is computed hereunder, to the extent (but only to the extent) that contracting for or receiving such payment by
such Bank would be contrary to the provisions of any law applicable to such Bank limiting the highest rate of interest
that may be lawfully contracted for, charged or received by such Bank, and in such event the Company shall pay such Bank
interest at the highest rate permitted by applicable law. 

	  	        2.12    Fees. 

	  	
                      
(a)    Facility Fee.   The Company shall pay to the Agent for the account of
each Bank a facility fee (the “Facility Fee”) on the entire portion of such Bank’s Commitment
(whether utilized or unutilized), computed on a quarterly basis in arrears on the last Business Day of each calendar
quarter, equal to the Applicable Facility Fee Rate. Such Facility Fee shall accrue from the Closing Date to the date on
which this Agreement is terminated and all of the Obligations hereunder have been paid in full and shall be due and
payable quarterly in arrears on the last Business Day of each calendar quarter commencing on September 30, 2004 through
the date on which this Agreement is terminated and all of the Obligations hereunder have been paid in full, with the
final payment to be made on the date on which this Agreement is terminated and all of the Obligations hereunder have
been paid in full; provided that, in connection with any reduction or termination of Commitments under
Section 2.07, the accrued Facility Fee calculated for the period ending on such date shall also be paid on the date
of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from
such 

25. 

	  	reduction or termination date to such quarterly payment
date. The Facility Fees provided in this subsection shall accrue at all times after the above-mentioned
commencement date, including at any time during which one or more conditions in Article IV are not met. 

	  	
                      
(b)    Utilization Fee.   The Company shall pay to the Agent for the account
of each Bank a utilization fee (the “Utilization Fee”) on the actual outstanding Loan balance and LC
Obligations for all days on which the Combined Utilized Amount exceeds fifty percent (50%) of the Combined Commitment
(or, if all or any part of the Combined Commitment has been terminated, the Combined Commitment in effect immediately
prior to such termination), equal to the Applicable Utilization Fee Rate. Such utilization fee shall (i) be computed on
a quarterly basis in arrears on the last Business Day of each calendar quarter during which the Combined Utilized Amount
exceeds fifty percent (50%) of the Combined Commitment (or, if all or any part of the Combined Commitment has been
terminated, the Combined Commitment in effect immediately prior to such termination), (ii) accrue for all such days from
the Closing Date to the date on which this Agreement is terminated and all of the Obligations hereunder have been paid
in full, and (iii) be payable in arrears on the last Business Day of each such quarter commencing on the last Business
Day of the fiscal quarter following the Closing Date through the date on which this Agreement is terminated and all of
the Obligations hereunder have been paid in full, with the final payment, if applicable, to be made on the date on which
this Agreement is terminated and all of the Obligations hereunder have been paid in full. 

	  	        2.13   Computation
of Fees and Interest. 

	  	
                      
(a)     All computations of interest for Base Rate Committed Loans shall be made on the basis of a
year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of interest and fees,
including LC Fees, shall be made on the basis of a 360-day year and actual days elapsed (which results in more interest
being paid than if computed on the basis of a 365-day year). Interest and fees shall accrue during each period during
which interest or such fees are computed from the first day thereof to the last day thereof. 

	  	
                      
(b)     Each determination of an interest rate by the Agent shall be conclusive and binding on the
Company and the Banks in the absence of manifest error. The Agent will, at the request of the Company or any Bank,
deliver to the Company or the Bank, as the case may be, a statement showing the quotations used by the Agent in
determining any interest rate. 

	  	
                      
(c)     The Agent will, with reasonable promptness, notify the Company and the Banks of each
determination of the LIBO Rate; provided that any failure to do so shall not relieve the Company of any liability
hereunder or provide the basis for any Event of Default or any claim against the Agent. Any change in the interest rate
payable on the Offshore Rate Committed Loans or in the Facility Fees or Utilization Fees payable under Section 2.12
resulting from a change in the Company’s senior unsecured long-term debt ratings shall become effective and shall
apply to any such Loans then outstanding or to such fees as of the opening of business on the day on which such change
in the Company’s debt ratings becomes effective. The Agent will with reasonable promptness notify the Company and
the Banks of the effective date and the amount of each such change, provided that any failure to do so shall not
relieve the Company of any liability hereunder or provide the basis for any Event of Default or any claim against the
Agent. 

26. 

	  	        2.14    Payments by the Company. 

	  	
                      
(a)     All payments to be made by the Company shall be made without set-off, recoupment or
counterclaim. Except as otherwise expressly provided herein, all payments by the Company shall be made to the Agent for
the account of the Banks at the Agent’s Payment Office, and shall be made in dollars and in immediately available
funds, no later than 12:00 noon (Chicago time) on the date specified herein. The Agent will promptly distribute to each
Bank its Pro Rata Share (except in the case of Reimbursement Obligations for which the LC Issuers have not been fully
indemnified by the Banks, or as otherwise specifically required hereunder) of such payment in like funds as received.
Any payment received by the Agent later than 12:00 noon (Chicago time) shall be deemed to have been received on the
following Business Day and any applicable interest or fee shall continue to accrue. Each reference to the Agent in this
Section 2.14 shall also be deemed to refer, and shall apply equally, to the LC Issuers, in the case of payments required
to be made by the Company to the LC Issuers pursuant to Section 2.17(f). 

	  	
                      
(b)     Subject to the provisions set forth in the definition of “Interest Period” herein,
whenever any payment is due on a day other than a Business Day, such payment shall be made on the following Business
Day, and such extension of time shall in such case be included in the computation of interest or fees, as the case may
be. 

	  	
                      
(c)     Unless the Agent receives notice from the Company prior to the date on which any payment is
due to the Banks that the Company will not make such payment in full as and when required, the Agent may assume that the
Company has made such payment in full to the Agent on such date in immediately available funds and the Agent may (but
shall not be so required), in reliance upon such assumption, distribute to each Bank on such due date an amount equal to
the amount then due such Bank. If and to the extent the Company has not made such payment in full to the Agent, each
Bank shall repay to the Agent on demand such amount distributed to such Bank, together with interest thereon at the
Federal Funds Rate for each day from the date such amount is distributed to such Bank until the date repaid.
 

	  	        2.15    Payments
by the Banks to the Agent. 

	  	
                      
(a)     Unless the Agent receives notice from a Bank on or prior to the Closing Date or, with
respect to any Borrowing after the Closing Date, prior to 11:00 a.m. (Chicago time) on the date of such Borrowing, that
such Bank will not make available as and when required hereunder to the Agent for the account of the Company the amount
of that Bank’s Loan comprising a Borrowing, the Agent may assume that each Bank has made such amount available to
the Agent in immediately available funds on the Borrowing Date and the Agent may (but shall not be so required), in
reliance upon such assumption, make available to the Company on such date a corresponding amount. If and to the extent
any Bank shall not have made its full amount available to the Agent in immediately available funds and the Agent in such
circumstances has made available to the Company such amount, that Bank shall on the Business Day following such
Borrowing Date make such amount available to the Agent, together with interest at the Federal Funds Rate for each day
during such period. A notice of the Agent submitted to any Bank with respect to amounts owing under this
subsection (a) shall be conclusive, absent manifest error. If such amount is so made available, such payment to the
Agent shall constitute such Bank’s Loan on the date of Borrowing for all purposes of this Agreement. If such amount
is not made available to the Agent on the Business Day following the Borrowing Date, the Agent 

27. 

	  	will notify the Company of such failure to fund and,
upon demand by the Agent, the Company shall pay such amount to the Agent for the Agent’s account, together with
interest thereon for each day elapsed since the date of such Borrowing, at a rate per annum equal to the interest rate
applicable at the time to the Loans comprising such Borrowing. 

	  	
                      
(b)     The failure of any Bank to make any Committed Loan on any Borrowing Date shall not relieve
any other Bank of any obligation hereunder to make a Committed Loan on such Borrowing Date, but no Bank shall be
responsible for the failure of any other Bank to make the Committed Loan to be made by such other Bank on any Borrowing
Date. 

	  	        2.16    Sharing
of Payments, Etc.   If, other than as expressly provided in Section 3.08 or 10.08 hereof, any
Bank shall obtain on account of the Committed Loans made by it any payment (whether voluntary, involuntary, through the
exercise of any right of set-off, or otherwise) in excess of its Pro Rata Share, such Bank shall immediately (a) notify
the Agent of such fact, and (b) purchase from the other Banks such participations in the Committed Loans made by them as
shall be necessary to cause such purchasing Bank to share the excess payment pro rata with each of them;
provided, however, that if all or any portion of such excess payment is thereafter recovered from the
purchasing Bank, such purchase shall to that extent be rescinded and each other Bank shall repay to the purchasing Bank
the purchase price paid therefor, together with an amount equal to such paying Bank’s ratable share (according to
the proportion of (i) the amount of such paying Bank’s required repayment to (ii) the total amount so
recovered from the purchasing Bank) of any interest or other amount paid or payable by the purchasing Bank in respect of
the total amount so recovered. The Company agrees that any Bank so purchasing a participation from another Bank may, to
the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off, but subject to
Section 10.09) with respect to such participation as fully as if such Bank were the direct creditor of the Company
in the amount of such participation. The Agent will keep records (which shall be conclusive and binding in the absence
of manifest error) of participations purchased under this Section and will in each case notify the Banks following
any such purchases or repayments. Any Bank having outstanding both Committed Loans and Bid Loans at any time a right of
set-off is exercised by such Bank shall apply the proceeds of such set-off first to such Bank’s Committed Loans,
until its Committed Loans are reduced to zero, and thereafter to its Bid Loans. 

	  	        2.17    Facility
LCs. 

	  	
                      
(a)    Issuance.   Each LC Issuer hereby agrees, on the terms and conditions
set forth in this Agreement, to issue standby and commercial letters of credit (each, a “Facility LC”) and to
renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a
“Modification”), from time to time from and including the date of this Agreement and prior to the Revolving
Termination Date upon the request of the Company; provided that immediately after each such Facility LC is issued
or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $25,000,000 and (ii) the
Aggregate Outstanding Credit Exposure (including all Bid Loans) shall not exceed the aggregate Commitments hereunder. No
Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving
Termination Date and (y) one year after its issuance. 

	  	
                      
(b)    Participations.   Upon the issuance or Modification by any LC Issuer of
a Facility LC in accordance with this Section 2.17, such LC Issuer shall be deemed, without 

28. 

	  	further action by any party hereto, to have
unconditionally and irrevocably sold to each Bank, and each Bank shall be deemed, without further action by any party
hereto, to have unconditionally and irrevocably purchased from such LC Issuer, a participation in such Facility LC (and
each Modification thereof) and the related LC Obligations in proportion to its Pro Rata Share. 

	  	
                      
(c)    Notice.   Subject to Section 2.17(a), the Company shall give the
applicable LC Issuer notice prior to 10:00 a.m. (Chicago time) at least five Business Days prior to the proposed date of
issuance or Modification of each Facility LC, specifying the beneficiary, the proposed date of issuance (or
Modification) and the expiry date of such Facility LC, and describing the proposed terms of such Facility LC and the
nature of the transactions proposed to be supported thereby. Upon receipt of such notice, the applicable LC Issuer shall
promptly notify the Agent, and the Agent shall promptly notify each Bank, of the contents thereof and of the amount of
such Bank’s participation in such proposed Facility LC. The issuance or Modification by any LC Issuer of any
Facility LC shall, in addition to the conditions precedent set forth in Article IV (the satisfaction of which no LC
Issuer shall have any duty to ascertain), be subject to the conditions precedent that such Facility LC shall be
satisfactory to the applicable LC Issuer and that the Company shall have executed and delivered such application
agreement and/or such other instruments and agreements relating to such Facility LC as the applicable LC Issuer shall
have reasonably requested (each, a “Facility LC Application”). In the event of any conflict between the terms
of this Agreement and the terms of any Facility LC Application, the terms of this Agreement shall control. 

	  	
                      
(d)    LC Fees.   The Company shall pay to the Agent, for the account of the
Banks ratably in accordance with their respective Pro Rata Shares, (i) with respect to each standby Facility LC, a
letter of credit fee at a per annum rate equal to the Applicable Margin for such standby Facility LC in effect from time
to time multiplied by the average daily undrawn stated amount under such standby Facility LC, such fee to be payable in
arrears on each Payment Date, and (ii) with respect to each commercial Facility LC, a one-time letter of credit fee in
an amount equal to the Applicable Margin at such time for such commercial Facility LC multiplied by the initial stated
amount (or, with respect to a Modification of any such commercial Facility LC which increases the stated amount thereof,
such increase in the stated amount) thereof, such fee to be payable on the date of such issuance or increase (each such
fee described in this sentence an “LC Fee”). The Company shall also pay to each LC Issuer for its own account
(x) at the time of issuance of each Facility LC, a fronting fee in an amount to be agreed upon between such LC Issuer
and the Company, and (y) documentary and processing charges in connection with the issuance or Modification of and draws
under Facility LCs in accordance with such LC Issuer’s standard schedule for such charges as in effect from time to
time. 

	  	
                      
(e)    Administration; Reimbursement by Banks.   Upon receipt from the
beneficiary of any Facility LC of any demand for payment under such Facility LC, the applicable LC Issuer shall notify
the Agent and the Agent shall promptly notify the Company and each other Bank as to the amount to be paid by the
applicable LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”). The
responsibility of the LC Issuers to the Company and each Bank shall be only to determine that the documents (including
each demand for payment) delivered under each Facility LC in connection with such presentment shall be in conformity in
all material respects with such Facility LC. Each LC Issuer shall endeavor to exercise the same care in the issuance and
administration of the Facility LCs issued by it as it 

29. 

	  	does with respect to letters of credit in which no
participations are granted, it being understood that in the absence of any gross negligence or willful misconduct by the
applicable LC Issuer, each Bank shall be unconditionally and irrevocably liable without regard to the occurrence of any
Default or any condition precedent whatsoever, to reimburse the applicable LC Issuer on demand for (i) such Bank’s
Pro Rata Share of the amount of each payment made by the applicable LC Issuer under each Facility LC to the extent such
amount is not reimbursed by the Company pursuant to Section 2.17(f) below, plus (ii) interest on the foregoing amount to
be reimbursed by such Bank, for each day from the date of the applicable LC Issuer’s demand for such reimbursement
(or, if such demand is made after 11:00 a.m. (Chicago time) on such date, from the next succeeding Business Day) to the
date on which such Bank pays the amount to be reimbursed by it, at a rate of interest per annum equal to the Federal
Funds Effective Rate for the first three days and, thereafter, at a rate of interest equal to the rate applicable to
Base Rate Committed Loans. 

	  	
                      
(f)    Reimbursement by Company.   The Company shall be irrevocably and
unconditionally obligated to reimburse the applicable LC Issuer on or before the applicable LC Payment Date for any
amounts to be paid by such LC Issuer upon any drawing under any Facility LC issued by it, without presentment, demand,
protest or other formalities of any kind; provided that neither the Company nor any Bank shall hereby be
precluded from asserting any claim for direct (but not consequential) damages suffered by the Company or such Bank to
the extent, but only to the extent, caused by (i) the willful misconduct or gross negligence of the applicable LC Issuer
in determining whether a request presented under any Facility LC issued by it complied with the terms of such Facility
LC or (ii) the applicable LC Issuer’s failure to pay under any Facility LC issued by it after the presentation to
it of a request strictly complying with the terms and conditions of such Facility LC. All such amounts paid by any LC
Issuer and remaining unpaid by the Company shall bear interest, payable on demand, for each day until paid at a rate per
annum equal to (x) the Base Rate for such day if such day falls on or before the applicable LC Payment Date and (y) the
sum of 2% plus the Base Rate for such day if such day falls after such LC Payment Date. Each LC Issuer will pay to each
Bank ratably in accordance with its Pro Rata Share all amounts received by it from the Company for application in
payment, in whole or in part, of the Reimbursement Obligation in respect of any Facility LC issued by such LC Issuer,
but only to the extent such Bank has made payment to such LC Issuer in respect of such Facility LC pursuant to Section
2.17(e). Subject to the terms and conditions of this Agreement (including without limitation the submission of a
Borrowing Notice in compliance with Section 2.03 and the satisfaction of the applicable conditions precedent set forth
in Article IV), the Company may request a Committed Loan hereunder for the purpose of satisfying any Reimbursement
Obligation. 

	  	
                      
(g)    Obligations Absolute.   The Company’s obligations under this
Section 2.17 shall be absolute and unconditional under any and all circumstances and irrespective of any setoff,
counterclaim or defense to payment which the Company may have or have had against any LC Issuer, any Bank or any
beneficiary of a Facility LC. The Company further agrees with the LC Issuers and the Banks that the LC Issuers and the
Banks shall not be responsible for, and the Company’s Reimbursement Obligation in respect of any Facility LC shall
not be affected by, among other things, the validity or genuineness of documents or of any endorsements thereon, even if
such documents should in fact prove to be in any or all respects invalid, fraudulent or forged, or any dispute between
or among the Company, any of its Affiliates, the beneficiary of any Facility LC or any financing institution or other
party to whom any Facility LC may be 

30. 

	  	transferred or any claims or defenses whatsoever of the
Company or of any of its Affiliates against the beneficiary of any Facility LC or any such transferee. The LC Issuers
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 Facility LC. The Company agrees that any action taken or omitted
by any LC Issuer or any Bank under or in connection with each Facility LC and the related drafts and documents, if done
without gross negligence or willful misconduct, shall be binding upon the Company and shall not put any LC Issuer or any
Bank under any liability to the Company. Nothing in this Section 2.17(g) is intended to limit the right of the Company
to make a claim against any LC Issuer for damages as contemplated by the proviso to the first sentence of
Section 2.17(f). 

	  	
                      
(h)    Actions
of LC Issuers. Each LC Issuer shall be entitled  to rely, and shall be fully
protected in relying, upon any Facility LC, draft, writing, resolution,  notice, consent,
certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message,
 statement, order or other document 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, independent  accountants and other experts selected by such
LC Issuer. Each LC Issuer shall be fully justified in  failing or refusing to take any
action under this Agreement unless it shall first have received such  advice or
concurrence of the Majority Banks as it reasonably deems appropriate or it shall first be
 indemnified to its reasonable satisfaction by the Banks against any and all liability
and expense which  may be incurred by it by reason of taking or continuing to take any
such action. Notwithstanding any  other provision of this Section 2.17, each LC Issuer
shall in all cases be fully protected in acting,  or in refraining from acting, under
this Agreement in accordance with a request of the Majority Banks,  and such request and
any action taken or failure to act pursuant thereto shall be binding upon the Banks  and
any future holders of a participation in any Facility LC.  

	  	
                      
(i)    Indemnification.   The Company hereby agrees to indemnify and hold
harmless each Bank, each LC Issuer and the Agent, and their respective directors, officers, agents and employees from
and against any and all claims and damages, losses, liabilities, costs or expenses which such Bank, such LC Issuer or
the Agent may incur (or which may be claimed against such Bank, such LC Issuer or the Agent by any Person whatsoever) by
reason of or in connection with the issuance, execution and delivery or transfer of or payment or failure to pay under
any Facility LC or any actual or proposed use of any Facility LC, including, without limitation, any claims, damages,
losses, liabilities, costs or expenses which any LC Issuer may incur by reason of or in connection with (i) the failure
of any other Bank to fulfill or comply with its obligations to any LC Issuer hereunder (but nothing herein contained
shall affect any rights the Company may have against any defaulting Bank) or (ii) by reason of or on account of any LC
Issuer issuing any Facility LC which specifies that the term “Beneficiary” included therein includes any
successor by operation of law of the named Beneficiary, but which Facility LC does not require that any drawing by any
such successor Beneficiary be accompanied by a copy of a legal document, satisfactory to the applicable LC Issuer,
evidencing the appointment of such successor Beneficiary; provided that the Company shall not be required to
indemnify any Bank, any LC Issuer or the Agent for any claims, damages, losses, liabilities, costs or expenses to the
extent, but only to the extent, caused by (x) the willful misconduct or gross negligence of any LC Issuer in determining
whether a request presented under any Facility LC complied with the terms of such Facility LC or (y) any LC
Issuer’s failure to pay under any Facility LC after the presentation to it of a request strictly complying with the
terms and conditions of such Facility 

31. 

	  	LC. Nothing in this Section 2.17(i) is intended to limit
the obligations of the Company under any other provision of this Agreement. 

	  	
                      
(j)    Banks’ Indemnification.   Each Bank shall, ratably in accordance
with its Pro Rata Share, indemnify each LC Issuer, its affiliates and their respective directors, officers, agents and
employees (to the extent not reimbursed by the Company) against any cost, expense (including reasonable counsel fees and
disbursements), claim, demand, action, loss or liability (except such as result from such indemnitees’ gross
negligence or willful misconduct or any LC Issuer’s failure to pay under any Facility LC issued by it after the
presentation to it of a request strictly complying with the terms and conditions of the Facility LC) that such
indemnitees may suffer or incur in connection with this Section 2.17 or any action taken or omitted by such indemnitees
hereunder. 

	  	
                      
(k)    Facility LC Collateral Account.   The Company agrees that it will, upon
the request of the Agent or the Majority Banks and until the final expiration date of any Facility LC and thereafter as
long as any amount is payable to any LC Issuer or the Banks in respect of any Facility LC, maintain a special collateral
account pursuant to arrangements satisfactory to the Agent (the “Facility LC Collateral Account”) at the
Agent’s office at the address specified pursuant to Section 10.02, in the name of such Company but under the sole
dominion and control of the Agent, for the benefit of the Banks and in which such Company shall have no interest other
than as set forth in Section 8.02. The Company hereby pledges, assigns and grants to the Agent, on behalf of and for the
ratable benefit of the Banks and the LC Issuers, a security interest in all of the Company’s right, title and
interest in and to all funds which may from time to time be on deposit in the Facility LC Collateral Account to secure
the prompt and complete payment and performance of the Obligations. The Agent will invest any funds on deposit from time
to time in the Facility LC Collateral Account in certificates of deposit of Bank One having a maturity not exceeding 30
days. Nothing in this Section 2.17(k) shall either obligate the Agent to require the Company to deposit any funds in the
Facility LC Collateral Account or limit the right of the Agent to release any funds held in the Facility LC Collateral
Account in each case other than as required by Section 8.02. 

	  	
                      
(l)    Rights as a Bank.   In its capacity as a Bank, each LC Issuer shall
have the same rights and obligations as any other Bank. 

ARTICLE III 

TAXES, YIELD PROTECTION AND ILLEGALITY  

	  	        3.01   Taxes. 

	  	
                      
(a)    Subject to subsection 3.01(f), any and all payments by the Company to each Bank, each LC
Issuer or the Agent under this Agreement and any other Loan Document shall be made free and clear of, and without
deduction or withholding for, any Taxes. In addition, the Company shall pay all Other Taxes. 

	  	
                      
(b)    Subject to subsection 3.01(f), the Company agrees to indemnify and hold harmless each
Bank, each LC Issuer and the Agent for the full amount of Taxes or Other Taxes 

32. 

	  	(including any Taxes or Other Taxes imposed by any
jurisdiction on amounts payable under this Section) paid by the Banks, the LC Issuers or the Agent and any liability
(including penalties, interest, additions to tax and expenses) arising therefrom or with respect thereto, whether or not
such Taxes or Other Taxes were correctly or legally asserted. Payment under this indemnification shall be made within 30
days after the date any Bank, any LC Issuer or the Agent makes written demand therefor. If the Company in good faith
determines that any such Taxes or Other Taxes for which indemnification has been sought hereunder are not due or owing
or otherwise correctly assessed, each Bank, each LC Issuer or the Agent at the request of the Company, or the Company at
the election of each Bank, LC Issuer or the Agent following any such request, in either case at the expense of the
Company, shall by appropriate means file for a refund or otherwise contest the payment of such Taxes or Other Taxes,
provided that any such filing or contest does not result in any penalty, lien or other liability to any Bank, any LC
Issuer or the Agent for which the Company has not provided a satisfactory undertaking to indemnify and hold any Bank,
any LC Issuer or the Agent harmless. The Banks, the LC Issuers and the Agent agree to provide reasonable cooperation to
the Company in connection with any such filing or contest, at the Company’s expense and, if the Company has paid
any such Tax or Other Tax or compensated the Banks, the LC Issuers or Agent with respect thereto, any refund thereof
shall belong and be remitted to the Company. 

	  	
                      
(c)    If the Company shall be required by law to deduct or withhold any Taxes or Other Taxes from
or in respect of any sum payable hereunder to any Bank, any LC Issuer or the Agent, then, subject to
subsection 3.01(f): 

	  	        (i)    the
sum payable shall be increased as necessary so that after making all required deductions and withholdings (including
deductions and withholdings applicable to additional sums payable under this Section) such Bank, such LC Issuer or the
Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions or
withholdings been made; 

	  	        (ii)    the
Company shall make such deductions and withholdings; 

	  	        (iii)    the
Company shall pay the full amount deducted or withheld to the relevant taxing authority or other authority in accordance
with applicable law; and 

	  	        (iv)    the
Company shall also pay to each Bank, each LC Issuer or the Agent for the account of such Bank or such LC Issuer, as
applicable, at the time interest is paid, all additional amounts which the respective Bank or the respective LC Issuer
specifies as necessary to preserve the after-tax yield such Bank or such LC Issuer would have received if such Taxes or
Other Taxes had not been imposed. 

	  	
                      
(d)    Within 30 days after the date of any payment by the Company of Taxes or Other Taxes, the
Company shall furnish the Agent the original or a certified copy of a receipt evidencing payment thereof, or other
evidence of payment satisfactory to the Agent. 

	  	
                      
(e)    Each Bank which is a foreign person (i.e., a person other than a United States person for
United States Federal income tax purposes) agrees that: 

	  	        (i)    it
shall, no later than the Closing Date (or, in the case of a Bank which becomes a party hereto pursuant to
Section 10.08 after the Closing Date, the date 

33. 

	  	upon which the Bank becomes a party hereto) deliver to
the Company through the Agent two accurate and complete signed originals of Internal Revenue Service Form W-8 BEN or any
successor thereto (“Form W-8 BEN”), or two accurate and complete signed originals of Internal Revenue Service
Form W-8 ECI or any successor thereto (“Form W-8 ECI”), as appropriate, in each case indicating that the Bank
is on the date of delivery thereof entitled to receive payments of principal, interest and fees under this Agreement
free from withholding of United States Federal income tax; 

	  	        (ii)    if
at any time the Bank makes any changes necessitating a new Form W-8 BEN or Form W-8 ECI, it shall with reasonable
promptness deliver to the Company through the Agent in replacement for, or in addition to, the forms previously
delivered by it hereunder, two accurate and complete signed originals of Form W-8 BEN; or two accurate and complete
signed originals of Form W-8 ECI, as appropriate, in each case indicating that the Bank is on the date of delivery
thereof entitled to receive payments of principal, interest and fees under this Agreement free from withholding of
United States Federal income tax; 

	  	        (iii)    it
shall, before or promptly after the occurrence of any event (including the passing of time) requiring a change in or
renewal of the most recent Form W-8 BEN or Form W-8 ECI previously delivered by such Bank, deliver to the Company
through the Agent two accurate and complete original signed copies of Form W-8 BEN or Form W-8 ECI in replacement for
the forms previously delivered by the Bank; and 

	  	        (iv)    it
shall, promptly upon the Company’s or the Agent’s reasonable request to that effect, deliver to the Company or
the Agent (as the case may be) such other forms or similar documentation as may be required from time to time by any
applicable law, treaty, rule or regulation in order to establish such Bank’s tax status for withholding purposes.

	  	
                      
(f)    The Company will not be required to indemnify, hold harmless or pay any additional amounts in
respect of United States Federal income tax pursuant to subsection 3.01(c) to any Bank for the account of any
Lending Office of such Bank: 

	  	        (i)    if
the obligation to indemnify, hold harmless or pay such additional amounts would not have arisen but for a failure by
such Bank to comply with its obligations (if any) under subsection 3.01(e) in respect of such Lending Office;

	  	        (ii)    if
such Bank shall have delivered to the Company a Form W-8 BEN in respect of such Lending Office pursuant to
subsection 3.01(e), and such Bank shall not at any time be entitled to exemption from deduction or withholding of
United States Federal income tax in respect of payments by the Company hereunder for the account of such Lending Office
for any reason other than a change in United States law or regulations or in the official interpretation of such law or
regulations by any governmental authority charged with the interpretation or administration thereof (whether or not
having the force of law) after the date of delivery of such Form W-8 BEN; or 

	  	        (iii)    if
the Bank shall have delivered to the Company a Form W-8 ECI in respect of such Lending Office pursuant to
subsection 3.01(e), and such Bank shall not 

34. 

	  	at any time be entitled to exemption from deduction or
withholding of United States Federal income tax in respect of payments by the Company hereunder for the account of such
Lending Office for any reason other than a change in United States law or regulations or any applicable tax treaty or
regulations or in the official interpretation of any such law, treaty or regulations by any governmental authority
charged with the interpretation or administration thereof (whether or not having the force of law) after the date of
delivery of such Form W-8 ECI. 

	  	
                      
(g)    If the Company is required to pay additional amounts to any Bank, any LC Issuer or the Agent
pursuant to subsection (c) of this Section, then such Bank shall use reasonable efforts (consistent with legal and
regulatory restrictions) to change the jurisdiction of its Lending Office so as to eliminate any such additional payment
by the Company which may thereafter accrue, if such change in the judgment of such Bank is not otherwise disadvantageous
to such Bank. 

	  	
                      
(h)    Each Bank agrees to promptly notify the Company of the first written assessment of any Taxes
payable by the Company hereunder which is received by such Bank, provided that failure to give such notice shall
not in any way prejudice the Bank’s rights under Section 3.01 hereof. The Company shall not be obligated to
pay any Taxes under Section 3.01 which are assessed against any Bank if the statute of limitations applicable
thereto (as same may be extended from time to time by agreement between such Bank and the relevant Governmental
Authority) has lapsed. Additionally, the Company shall not be obligated to pay any penalties, interest, additions to tax
or expenses with respect to any final assessment of Taxes against any Bank (i) unless such Bank shall have first
notified the Company in writing of such final assessment, and (ii) which are attributable to periods exceeding 90
days prior to the date of receipt by the Company of such notice. 

	  	        3.02   Illegality. 

	  	
                      
(a)     If any Bank determines that the introduction of any Requirement of Law, or any change in any
Requirement of Law, or in the interpretation or administration of any Requirement of Law, has made it unlawful, or any
central bank or other Governmental Authority has asserted that it is unlawful, for any Bank or its applicable Lending
Office to make Offshore Rate Loans, then, on notice thereof by the Bank to the Company through the Agent, any obligation
of that Bank to make additional Offshore Rate Loans (including in respect of any LIBOR Bid Loan as to which the Company
has accepted such Bank’s Competitive Bid, but as to which the Borrowing Date has not arrived) shall be suspended
until the Bank notifies the Agent and the Company that the circumstances giving rise to such determination no longer
exist. 

	  	
                      
(b)     If a Bank determines that it is unlawful to maintain any Offshore Rate Loan, the Company
shall, upon its receipt of notice of such fact and demand from such Bank (with a copy to the Agent), prepay in full such
Offshore Rate Loans of that Bank then outstanding, together with interest accrued thereon and amounts required under
Section 3.04, either on the last day of the Interest Period thereof, if the Bank may lawfully continue to maintain
such Offshore Rate Loans to such day, or immediately, if the Bank may not lawfully continue to maintain such Offshore
Rate Loan. If the Company is required to so prepay any Offshore Rate Committed Loan, then concurrently with such
prepayment, the Company shall 

35. 

	  	borrow from the affected Bank, and the affected Bank
shall lend to the Company, in the amount of such repayment, a Base Rate Committed Loan. 

	  	
                      
(c)     If the obligation of any Bank to make or maintain Offshore Rate Committed Loans has been so
terminated or suspended, the Company may elect, by giving notice to the Bank through the Agent that all Loans which
would otherwise be made by the Bank as Offshore Rate Committed Loans shall be instead Base Rate Committed Loans. 

	  	
                      
(d)     Before giving any notice to the Agent under this Section, the affected Bank shall designate
a different Lending Office with respect to its Offshore Rate Loans if such designation will avoid the need for giving
such notice or making such demand and will not, in the judgment of the Bank, be illegal or otherwise disadvantageous to
the Bank in such Bank’s reasonable judgment. 

	  	        3.03   Increased
Costs and Reduction of Return. 

	  	
                      
(a)    If any Bank or any LC Issuer determines that, due to either (i) the introduction of or
any change in or in the interpretation of any law or regulation after the Closing Date or (ii) the compliance by
that Bank or that LC Issuer with any guideline or request from any central bank or other Governmental Authority (whether
or not having the force of law) after the Closing Date, there shall be any increase in the cost to such Bank or such LC
Issuer of agreeing to make or making, funding or maintaining any Offshore Rate Loans or issuing or maintaining Facility
LCs, as the case may be, then the Company shall be liable for, and shall from time to time, upon demand (with a copy of
such demand to be sent to the Agent), pay to the Agent for the account of such Bank or such LC Issuer, as the case may
be, additional amounts as are sufficient to compensate such Bank or such LC Issuer for such increased costs. 

	  	
                      
(b)     If any Bank or any LC Issuer shall have determined that (i) the introduction after the
Closing Date of any Capital Adequacy Regulation , (ii) any change after the Closing Date in any Capital Adequacy
Regulation, (iii) any change after the Closing Date in the interpretation or administration of any Capital Adequacy
Regulation by any central bank or other Governmental Authority charged with the interpretation or administration
thereof, or (iv) compliance by the Bank (or its Lending Office) or any corporation controlling the Bank with any
change in any Capital Adequacy Regulation after the Closing Date, affects the amount of capital required to be
maintained by any Bank or any LC Issuer or any corporation controlling any Bank or any LC Issuer and (taking into
consideration such Bank’s or such corporation’s policies with respect to capital adequacy and such Bank’s
desired return on capital) determines that the amount of such capital is increased as a consequence of its Commitment,
loans, credits, LC Obligations or obligations under this Agreement, then, upon demand of such Bank or such LC Issuer to
the Company through the Agent, the Company shall pay to the applicable Bank or the applicable LC Issuer, as the case may
be, from time to time as specified by such Bank or such LC Issuer, additional amounts sufficient to compensate such Bank
or such LC Issuer for such increase. 

	  	
                      
(c)     The Company shall not be obligated to pay any amounts under subsection 3.03(a) or (b)
to any Bank or any LC Issuer (i) unless such Bank or such LC Issuer shall have first notified the Company in
writing that it intends to seek compensation from the 

36. 

	  	Company pursuant to such subsection, and (ii) which
are attributable to periods exceeding 90 days prior to the date of receipt by the Company of such notice. 

	  	        3.04    Funding
Losses.   The Company shall reimburse each Bank and hold each Bank harmless from any direct loss or
expense (but excluding any consequential loss or expense) which the Bank may sustain or incur as a consequence of:

	  	
                      

(a)     the failure of the Company to make on a timely basis any payment required hereunder of
principal of any Offshore Rate Loan; 

	  	
                      
(b)     the failure of the Company to borrow a Bid Loan after the Agent has notified a Bank pursuant
to subsection 2.06(g)(i) that its Competitive Bid has been accepted by the Company, or the failure of the Company to
borrow, continue or convert a Committed Loan after the Company has given (or is deemed to have given) a Notice of
Borrowing or a Notice of Conversion/Continuation; 

	  	
                      
(c)     the failure of the Company to make any prepayment of any Committed Loan in accordance with
any notice delivered under Section 2.08; 

	  	
                      
(d)     the prepayment (including pursuant to Sections 2.08 or 2.09) or payment after
acceleration thereof following an Event of Default of any Offshore Rate Loan or Absolute Rate Bid Loan on a day that is
not the last day of the relevant Interest Period; or 

	  	
                      
(e)     the automatic conversion under the proviso contained in Section 2.04(a) or under the
proviso contained in Section 2.08 of any Offshore Rate Committed Loan to a Base Rate Committed Loan on a day that
is not the last day of the relevant Interest Period; 

	  	including any such loss or expense arising from the
liquidation or reemployment of funds obtained by it to maintain its Offshore Rate Loans or from fees payable to
terminate the deposits from which such funds were obtained. For purposes of calculating amounts payable by the Company
to the Banks under this Section and under subsection 3.03(a), each Offshore Rate Committed Loan made by a Bank
(and each related reserve, special deposit or similar requirement) shall be conclusively deemed to have been funded at
the LIBO Rate by a matching deposit or other borrowing in the interbank eurodollar market for a comparable amount and
for a comparable period, whether or not such Offshore Rate Committed Loan is in fact so funded. 

	  	        3.05    Inability
to Determine Rates.   If the LIBO Rate applicable pursuant to subsection 2.11(a) for any
requested Interest Period with respect to a proposed Offshore Rate Loan does not adequately and fairly reflect the cost
to the Banks of funding such Loan, the Agent will promptly so notify the Company and each Bank. Thereafter, the
obligation of the Banks to make additional Offshore Rate Loans hereunder shall be suspended until the Agent upon the
instruction of the Majority Banks revokes such notice in writing. Upon receipt of such notice, the Company without cost
or expense may revoke any Notice of Borrowing or Notice of Conversion/Continuation then submitted by it. If the Company
does not revoke such Notice, the Banks shall make, convert or continue the Committed Loans, as proposed by the Company,
in the amount specified in the applicable notice submitted by the Company, but such Committed Loans shall be made,
converted or continued as Base Rate Committed Loans instead of Offshore Rate Committed Loans. 

37. 

	  	        3.06    Reserves
on Offshore Rate Committed Loans.   The Company shall pay to each Bank, as long as such Bank shall be
required under regulations of the FRB to maintain reserves with respect to liabilities or assets consisting of or
including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest
on the unpaid principal amount of each Offshore Rate Committed Loan equal to the actual costs of such reserves allocated
to such Committed Loan by the Bank (as reasonably determined by the Bank), payable on each date on which interest is
payable on such Committed Loan, provided the Company shall have received at least 30 days’ prior written notice
(with a copy to the Agent) of such additional interest from the Bank. If a Bank fails to give notice 30 days prior to
the relevant Interest Payment Date, such additional interest shall be payable 30 days from receipt of such notice. No
Bank shall be entitled to additional interest under this Section 3.06 accruing more than 90 days prior to the date of
receipt by the Company of notice requesting payment thereof. 

	  	        3.07    Certificates
of Banks.   Any Bank or any LC Issuer claiming reimbursement or compensation under this Article III
shall deliver to the Company (with a copy to the Agent) a certificate setting forth in reasonable detail the amount
payable to such Bank or such LC Issuer hereunder and such certificate shall be conclusive and binding on the Company in
the absence of manifest error unless the Company shall have notified such Bank or such LC Issuer of its objection to
such certificate (with a copy to the Agent) within 30 days of the Company’s receipt of such claim. 

	  	        3.08    Substitution
of Banks.   Upon the receipt by the Company from any Bank (an “Affected Bank”) of a
claim for compensation under Section 3.01, 3.02 or 3.03, the Company may: (i) request the Affected Bank to use
its reasonable efforts to obtain a replacement bank or financial institution satisfactory to the Company and the Agent
and meeting the qualifications of an Eligible Assignee to acquire and assume all or a ratable part of all of such
Affected Bank’s Committed Loans and Commitment (a “Replacement Bank”); (ii) request one or
more of the other Banks to acquire and assume all or part of such Affected Bank’s Committed Loans and Commitment
(but no other Bank shall be required to do so); or (iii) designate a Replacement Bank. Any such designation of a
Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Agent (which
consent shall not be unreasonably withheld). Any transfer arising under this Section 3.08 shall comply with the
requirements of Section 10.08 and on the date of transfer the Affected Bank shall be entitled to all sums payable
to it hereunder on such date including, outstanding principal, accrued interest and fees, and other sums (including
amounts payable under Section 3.04(d)) arising under the provisions of this Agreement with reference to such
Committed Loans. 

	  	        3.09    Survival.   The
agreements and obligations of the Company in this Article III shall survive the payment of all other Obligations. 

ARTICLE IV 

CONDITIONS PRECEDENT  

	  	        4.01    Conditions
to Effectiveness of Commitments and to Initial Loans.   The obligation of each Bank and each LC
Issuer to make its initial Credit Extension hereunder, and of each Bank to receive through the Agent the initial
Competitive Bid Request, is subject to and shall become effective when the Agent shall have received on or before the
Closing Date all of the

38. 

	  	following, in form and substance satisfactory to the
Agent, each Bank and each LC Issuer, and in sufficient copies for each Bank and each LC Issuer: 

	  	
                      
(a)    Credit Agreement; Notes; Guaranty.   This Agreement, the Guaranty (and,
if requested, Notes for each such requesting Bank) properly executed; 

	  	
                      
(b)    Resolutions; Incumbency.  

	  	        (i)    Copies
of the resolutions of the board of directors (or appropriate committee thereof) of each of the Company and the initial
Guarantor (together, the “Initial Loan Parties”) authorizing the transactions contemplated by the Loan
Documents to which it is a party, certified as of the Closing Date by the Secretary, Assistant Secretary or other
appropriate officer of such Initial Loan Party; and 

	  	        (ii)    A
certificate of the Secretary, Assistant Secretary or other appropriate officer of each Initial Loan Party certifying the
names and true signatures of the officers of such Initial Loan Party authorized to execute, deliver and perform, this
Agreement, and all other Loan Documents to be delivered by it hereunder; 

	  	
                      
(c)    Organization Documents; Good Standing.   Each of the following documents:  

	  	        (i)    the
articles or certificate of incorporation and the bylaws of each Initial Loan Party as in effect on the Closing Date,
certified by the Secretary, Assistant Secretary or other appropriate officer of such Initial Loan Party as of the
Closing Date; and 

	  	        (ii)    a
good standing certificate dated within five (5) days of the Closing Date for each Initial Loan Party from the Secretary
of State (or similar, applicable Governmental Authority) of its respective state of incorporation; 

	  	
                      
(d)    Legal Opinions.   An opinion letter from Anthony C. Scarfone, General
Counsel to the Initial Loan Parties, addressed to the Agent, the Banks and the LC Issuers, containing opinions
substantially in the form of Exhibit H; 

	  	
                      
(e)    Payment of Fees.   Evidence of payment by the Company of all accrued
and unpaid fees, costs and expenses to the extent then due and payable on the Closing Date, including any such costs,
fees and expenses arising under or referenced in Section 2.12; 

	  	
                      
(f)    Certificate.   A certificate signed on behalf of the Company by the
Company’s chief executive officer, chief financial officer or treasurer, dated as of the Closing Date, stating
that: 

	  	        (i)    the
representations and warranties contained in Article V are true and correct on and as of such date, as though made on and
as of such date; 

	  	        (ii)    no
Default or Event of Default exists as of the Closing Date; and 

39. 

	  	        (iii)    there
has occurred since December 31, 2003, no event or circumstance that has resulted or would reasonably be expected to
result in a material adverse change in, or material adverse effect upon, the financial condition of the Company and its
Subsidiaries taken as a whole; 

	  	
                      
(g)    Existing 364-Day Credit Agreement and Existing Bridge Credit
Agreement.   Evidence satisfactory to the Agent that (i) the Existing 364-Day Credit Agreement shall
have been or shall simultaneously on the Closing Date be terminated (except for those provisions that expressly survive
the termination thereof), all loans outstanding and other amounts owed to the lenders or agents thereunder shall have
been paid in full, and all liens and security interests granted in connection therewith shall have been or shall
simultaneously on the Closing Date be terminated, and (ii) the aggregate “Commitments” under (and as defined
in) the Existing Bridge Credit Agreement shall have been or shall simultaneously on the Closing Date be permanently
reduced by an amount not less than $150,000,000; and 

	  	
                      
(h)    2004 364-Day Credit Agreement.   Evidence satisfactory to the Agent that the
2004 364-Day  Credit Agreement shall have been duly executed by all parties thereto.  

	  	
                      
(i)    LC Application.   If the initial Credit Extension will be the issuance of a
Facility  LC, a properly completed Facility LC Application.  

	  	
                      
(j)    Other Documents.   Such other approvals, opinions, documents or
materials as the Agent, any LC Issuer or any Bank may reasonably request, as well as any other information required by
Section 326 of the USA PATRIOT Act of 2001 or necessary for the Agent, any LC Issuer or any Bank to verify the identity
of the Company as required by Section 326 of the USA PATRIOT Act of 2001. 

	  	        4.02    Conditions
to All Credit Extensions.   The obligation of each Bank and each LC Issuer to make any Credit
Extension to be made by it, or any Bid Loan as to which the Company has accepted the relevant Competitive Bid (including
the initial Loan), or to continue or convert any Committed Loan under Section 2.04 is subject to the satisfaction
of the following conditions precedent on the relevant Credit Extension Date or Conversion/Continuation Date: 

	  	
                      
(a)    Notice of Borrowing or Conversion/Continuation.   As to any Committed
Loan, the Agent shall have received (with, in the case of the initial Loan only, a copy for each Bank) a Notice of
Borrowing or a Notice of Conversion/Continuation, as applicable; 

	  	
                      
(b)    Facility LC Application.   As to any Facility LC, the applicable LC
Issuer shall have received the Facility LC Application and all other notices specified in Section  2.17(c); 

	  	
                      
(c)    Continuation of Representations and Warranties.   The representations
and warranties in Article V (excluding those contained in Section 5.11(b)) shall be true and correct on and as of such
Credit Extension Date or Conversion/Continuation Date with the same effect as if made on and as of such Credit Extension
Date or Conversion/Continuation Date (except to the extent such representations and warranties expressly refer to an
earlier date, in which case they shall be true and correct as of such earlier date); and 

	  	
                      
(d)    No Existing Default.   No Default or Event of Default shall exist or
shall result from such Credit Extension or continuation or conversion. 

40. 

	  	Each Notice of Borrowing, Notice of
Conversion/Continuation, Competitive Bid Request and request for issuance of a Facility LC submitted by the Company
hereunder shall constitute a representation and warranty by the Company hereunder, as of the date of each such notice or
request and as of each Credit Extension Date, Conversion/Continuation Date or issuance date of a Facility LC, as
applicable, that the conditions in Section 4.02 are satisfied. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES  

	  	        The
Company represents and warrants to the Agent and each Bank that: 

	  	        5.01    Corporate
Existence and Power.   The Company and each of its Material Subsidiaries: 

	  	
                      
(a)     is a corporation duly organized, validly existing and in good  standing under the laws of
the jurisdiction of its incorporation;  

	  	
                      
(b)     has the power and authority and all governmental licenses, authorizations, consents and
approvals to own its assets, carry on its business (except where the failure to have any such governmental license,
authorization, consent or approval would not reasonably be expected to have a Material Adverse Effect) and as to the
Company and each Guarantor only, to execute, deliver, and perform its obligations under the Loan Documents; 

	  	
                      
(c)    is duly qualified as a foreign corporation and is licensed and in good standing under the
laws of each jurisdiction except where the failure to so qualify or to be so licensed or in good standing would preclude
it from enforcing its rights with respect to any of its assets or expose it to any liability and which, in either case,
would reasonably be expected to have a Material Adverse Effect; and 

	  	
                      
(d)    is in all material respects in compliance with the Requirements of Law except to the extent
that the failure to do so would not reasonably be expected to have a Material Adverse Effect. 

	  	        5.02    Corporate
Authorization; No Contravention.   The execution, delivery and performance by the Company of this
Agreement and each other Loan Document to which the Company or any Material Subsidiary is party, have been duly
authorized by all necessary corporate action, and do not and will not: 

	  	
                      
(a)     contravene the terms of any of the Company’s or such Material  Subsidiary’s Organization
Documents;  

	  	
                      
(b)     conflict with or result in any breach or contravention of, or the creation of any Lien
under, any document evidencing any Contractual Obligation to which the Company or such Material Subsidiary is a party or
any order, injunction, writ or decree of any Governmental Authority to which the Company or such Material Subsidiary or
its respective property is subject except where such conflict, breach, contravention or Lien would not reasonably be
expected to have a Material Adverse Effect; or 

41. 

	  	
                      
(c)     violate any Requirement of Law.  

	  	        5.03    Governmental
Authorization.   No approval, consent, exemption, authorization, or other action by, or notice to, or
filing with, any Governmental Authority, which has not been obtained by the Company and its Subsidiaries, is necessary
or required in connection with the execution, delivery or performance by, or enforcement against, the Company or any of
its Subsidiaries of the Agreement or any other Loan Document. 

	  	        5.04    Binding
Effect.   This Agreement and each other Loan Document to which the Company or any of its Material
Subsidiaries is a party constitute the legal, valid and binding obligations of the Company or such Material Subsidiary,
as applicable, enforceable against the Company or such Material Subsidiary, as applicable, in accordance with their
respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws
affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

	  	        5.05    Litigation.   Except
as specifically disclosed in Schedule 5.05, there are no actions, suits, proceedings, claims or disputes
pending, or to the best knowledge of the Company, threatened or contemplated, at law, in equity, in arbitration or
before any Governmental Authority, against the Company, or its Subsidiaries or any of their respective properties which:

	  	
                      
(a)    purport to affect or pertain to this Agreement or any other Loan Document, or any of the
transactions contemplated hereby or thereby; or 

	  	
                      
(b)     would reasonably be expected to have a Material Adverse Effect.  

	  	No injunction, writ, temporary restraining order or any
order of any nature has been issued by any court or other Governmental Authority purporting to enjoin or restrain the
execution, delivery or performance of this Agreement or any other Loan Document, or directing that the transactions
provided for herein or therein not be consummated as herein or therein provided. 

	  	        5.06    No
Default.   At the Closing Date and at the time of any Credit Extension, no Default or Event of
Default exists or would result from the incurring of any Obligations by the Company. As of the Closing Date, neither the
Company nor any Subsidiary is in default under or with respect to any Contractual Obligation in any respect which,
individually or together with all such defaults, would reasonably be expected to have a Material Adverse Effect, or that
would, if such default had occurred after the Closing Date, create an Event of Default under subsection 8.01(e). 

	  	        5.07    ERISA
Compliance.   Except as specifically disclosed in Schedule 5.07: 

	  	
                      
(a)    Each Plan is in compliance in all material respects with the applicable provisions of ERISA,
the Code and other federal or state law except where non-compliance would not reasonably be expected to result in a
Material Adverse Effect. Each Plan which is intended to qualify under Section 401(a) of the Code has received a
favorable determination letter from the IRS or, if otherwise, the failure to apply for or receive a favorable
determination letter would not reasonably be expected to have a Material Adverse Effect. To the best knowledge of the
Company, nothing has occurred which would cause the loss of qualification the effect of which would reasonably be
expected to result in a Material Adverse Effect. The 

42. 

	  	Company and each ERISA Affiliate has made all required
contributions to any Plan subject to Section 412 of the Code, and no application for a funding waiver or an
extension of any amortization period pursuant to Section 412 of the Code has been made with respect to any Plan
when the failure to make such contribution or when such application or extension would reasonably be expected to result
in a Material Adverse Effect. 

	  	
                      
(b)    There are no pending or, to the best knowledge of Company, threatened claims, actions or
lawsuits, or action by any Governmental Authority, with respect to any Plan which has resulted or would reasonably be
expected to result in a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary
responsibility rules with respect to any Plan which has resulted or would reasonably be expected to result in a Material
Adverse Effect. 

	  	
                      
(c)    (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension
Plan has any Unfunded Pension Liability; (iii) neither the Company nor any ERISA Affiliate has incurred, or
reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension Plan (other than premiums
due and not delinquent under Section 4007 of ERISA); (iv) neither the Company nor any ERISA Affiliate has
incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice
under Section 4219 of ERISA, would result in such liability) under Section 4201 or 4243 of ERISA with respect
to a Multiemployer Plan; and (v) neither the Company nor any ERISA Affiliate has engaged in a transaction that
could be subject to Section 4069 or 4212(c) of ERISA that, in the case of any of clauses (i) through (v),
would reasonably be expected to result in a Material Adverse Effect. 

	  	        5.08    Use
of Proceeds; Margin Regulations.   The proceeds of the Credit Extensions are to be used solely for
the purposes set forth in and permitted by Section 6.12 and Section 7.05. Neither the Company nor any
Subsidiary is generally engaged in the business of purchasing or selling Margin Stock or extending credit for the
purpose of purchasing or carrying Margin Stock. 

	  	        5.09    Title
to Properties.   The Company and each Subsidiary have good record and marketable title in fee simple
to, or to their knowledge valid leasehold interests in, all real property necessary for the ordinary conduct of their
respective businesses, except for such defects in title as would not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect. As of the Closing Date, the property of the Company and its Subsidiaries
is subject to no Liens, other than Permitted Liens. 

	  	        5.10    Taxes.   The
Company and its Subsidiaries have filed all Federal and other material tax returns and reports required to be filed, and
have paid all Federal and other material taxes, assessments, fees and other governmental charges levied or imposed upon
them or their properties, income or assets otherwise due and payable, except those which are being contested in good
faith by appropriate proceedings and for which adequate reserves have been provided in accordance with GAAP or where
failure to file such return or to pay any such tax would not reasonably be expected to have a Material Adverse Effect.
There is no proposed tax assessment against the Company or any Subsidiary that would, if made, have a Material Adverse
Effect. 

43. 

	  	        5.11    Financial Condition. 

	  	
                      
(a)    The audited consolidated financial statements of the Company and its Subsidiaries dated
December 31, 2003, and the unaudited consolidated financial statements dated March 31, 2004, and the related
consolidated statements of income or operations, balance sheet and cash flows for the fiscal year or the fiscal quarter,
respectively, ended on that date: 

	  	        (i)    were
prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein, subject to ordinary, good faith year end audit adjustments in the case of such unaudited
statements; 

	  	        (ii)    fairly
present the financial condition of the Company and its Subsidiaries as of the date thereof and results of operations for
the period covered thereby; and 

	  	        (iii)    show
all material Indebtedness and other liabilities, direct or contingent, of the Company and its consolidated Subsidiaries
as of the date thereof, including liabilities for taxes, material commitments and Contingent Obligations except for
Indebtedness and other liabilities, the existence of which would not have a Material Adverse Effect. 

	  	
                      
(b)    Since December 31, 2003, there has been no Material Adverse  Effect.  

	  	        5.12    Environmental
Matters.   The Company conducts in the ordinary course of business a review of the effect of existing
Environmental Laws and existing Environmental Claims on its business, operations and properties, and as a result thereof
the Company has reasonably concluded that, except as specifically disclosed in Schedule 5.12, such
Environmental Laws and Environmental Claims would not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect. 

	  	        5.13    Regulated
Entities.   None of the Company, any Person controlling the Company, or any Subsidiary, is an
“Investment Company” within the meaning of the Investment Company Act of 1940. The Company is not subject to
any other Federal or state statute or regulation limiting its ability to incur Indebtedness. 

	  	        5.14    No
Burdensome Restrictions.   Neither the Company nor any Subsidiary is a party to or bound by any
Contractual Obligation, or subject to any restriction in any Organization Document, or any Requirement of Law, which
would reasonably be expected to have a Material Adverse Effect. 

	  	        5.15    Copyrights,
Patents, Trademarks and Licenses, etc.   Except as disclosed in Schedule 5.15, the Company or its
Subsidiaries own or are licensed or otherwise have the right to use all of the patents, trademarks, service marks, trade
names, copyrights, contractual franchises, authorizations and other rights that are reasonably necessary for the
operation of their respective businesses, without conflict with the rights of any other Person except where the failure
to own, be licensed to or otherwise have the right to use the same would not have a Material Adverse Effect. To the best
knowledge of the Company, no material slogan or other advertising device, 

44. 

	  	product, process, method, substance, part or other
material now employed, or now contemplated to be employed, by the Company or any Subsidiary infringes upon any rights
held by any other Person where any such infringement would reasonably be expected to have a Material Adverse Effect.
Except as specifically disclosed in Schedule 5.05, no claim or litigation regarding any of the foregoing is pending
or to the knowledge of the Company threatened, which would reasonably be expected to have a Material Adverse Effect.

	  	        5.16    Subsidiaries.   As
of the Closing Date, the Company has no Subsidiaries other than those specifically disclosed in part (a) of
Schedule 5.16 hereto and has no material equity investments in any other corporation or entity other than
those specifically disclosed in part (b) of Schedule 5.16. 

	  	        5.17    Insurance.   The
properties of the Company and its Subsidiaries are insured with financially sound and reputable insurance or reinsurance
companies, in such amounts, with such deductibles and covering such risks as are believed by the Company to be adequate
in the exercise of its reasonable business judgment. 

	  	        5.18    Full
Disclosure.   None of the representations or warranties made by the Company or any of its
Subsidiaries in the Loan Documents as of the date such representations and warranties are made or deemed made, and none
of the statements contained in any exhibit, financial report or statements or certificate furnished by or on behalf of
the Company in connection with the Loan Documents, contains any untrue statement of a material fact or omits any
material fact required to be stated therein or necessary to make the statements made therein, in light of the
circumstances under which they are made, not misleading as of the time when made or delivered. 

	  	        5.19    Reportable
Transaction.   The Company does not intend to treat the Credit Extensions and related transactions as
being a “reportable transaction” (within the meaning of the Treasury Regulation Section 1.6011-4). In the
event the Company determines to take any action inconsistent with such intention, it will promptly notify the Agent
thereof. 

	  	        5.20    Solvency.   After
giving effect to the Credit Extensions to be made on the date such Credit Extensions are requested to be made, the
Company and its Subsidiaries taken as a whole are Solvent. 

	  	        5.21    Specially
Designated Nationals or Blocked Persons List.   None of the Company, Subsidiaries of the Company or
Affiliates of the Company are named on the United States Department of the Treasury’s Specially Designated
Nationals or Blocked Persons list available through http://www.treas.gov/offices/ectoffc/ofac/sdn/index.html or as
otherwise published from time to time. 

45. 

ARTICLE VI 

AFFIRMATIVE COVENANTS  

	  	        So long
as any Bank shall have any Commitment hereunder, or any Loan or other Obligation (other than indemnification) shall
remain unpaid or unsatisfied, unless the Majority Banks waive compliance in writing: 

	  	        6.01    Financial
Statements.   The Company shall deliver to the Agent, in form and detail reasonably satisfactory to
the Agent, with sufficient copies for each Bank: 

	  	
                      
(a)     as soon as available, but not later than the date which is the earlier of (x) 120 days
after the end of each fiscal year or (y) five (5) Business Days after the delivery of the following financial
statements to the SEC, a copy of the audited consolidated balance sheet of the Company and its consolidated Subsidiaries
as at the end of such year and the related consolidated statements of income or operations, shareholders’ equity
and cash flows for such year, setting forth in each case in comparative form the figures for the previous fiscal year,
and accompanied by the opinion of PriceWaterhouseCoopers LLP or another nationally-recognized independent public
accounting firm (“Independent Auditor”) which report shall state that such consolidated financial
statements present fairly, in all material respects, the financial position for the periods indicated in conformity with
GAAP. Such opinion shall not be qualified or limited because of a restricted or limited examination by the Independent
Auditor of any material portion of the Company’s or any Subsidiary’s records; and 

	  	
                      
(b)    as soon as available, but not later than the date which is the earlier of
(x) 60 days after the end of each of the first three fiscal quarters of each fiscal year or (y) five (5)
Business Days after the delivery of the following financial statements to the SEC, a copy of the unaudited consolidated
balance sheet of the Company and its consolidated Subsidiaries as of the end of such quarter and the related
consolidated statements of income and cash flows for the period commencing on the first day and ending on the last day
of such quarter, and certified on behalf of the Company by a Responsible Officer as fairly presenting, in all material
respects and in accordance with GAAP (subject to ordinary, good faith year-end audit adjustments), the financial
position and the results of operations of the Company and its consolidated Subsidiaries. 

	  	        6.02    Certificates;
Other Information.   The Company shall furnish to the Agent, with sufficient copies for each Bank: 

	  	
                      
(a)    concurrently with the delivery of the financial statements referred to in
subsections 6.01(a) and (b), a Compliance Certificate executed by a Responsible Officer on behalf of the Company
which certifies that no Default or Event of Default has occurred and is continuing (except as described therein);

	  	
                      
(b)     promptly, copies of all financial statements and reports that  the Company sends to its
shareholders, and copies of all financial statements and regular, periodical  or special
reports (including Forms 10K, 10Q and 8K) that the Company or any Subsidiary may make to,
 or file with, the SEC; and  

	  	
                      
(c)     promptly, such additional information regarding the business,  financial or corporate affairs of
the Company or any Subsidiary as the Agent, at the request of any  Bank,  

46. 

	  	may from time to time reasonably request and which
materially relates to the ability of the Company to perform under this Agreement. 

	  	        6.03    Notices.   Upon
obtaining knowledge of any event described below, the Company shall promptly notify the Agent and each Bank: 

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

	  	
                      
(b)    of any of the following matters of which a Responsible Officer obtains knowledge
that would  result in a Material Adverse Effect: (i) breach or non-performance of,
or any default under, a  Contractual Obligation of the Company or any Subsidiary; (ii) any
dispute, litigation, investigation,  proceeding or suspension between the Company or any
Subsidiary and any Governmental Authority; or (iii) the  commencement of, or any
material development in, any litigation or proceeding affecting the Company  or any
Subsidiary, including pursuant to any applicable Environmental Laws;  

	  	
                      
(c)    of the occurrence of any of the following events affecting the Company or any ERISA
Affiliate  which would reasonably be expected to result in a Material Adverse Effect (but
in no event more than  10 days after a Responsible Officer obtains knowledge of such
event), and deliver to the Agent and each  Bank a copy of any notice with respect to such
event that is filed with a Governmental Authority and  any notice delivered by a
Governmental Authority to the Company or any ERISA Affiliate with respect  to such event:  

	  	        (i)    an ERISA Event;  

	  	        (ii)    a material increase in the Unfunded Pension Liability of any Pension Plan;  

	  	        (iii)    the adoption of, or the commencement of contributions to, any Plan subject to
Section 412  of the Code by the Company or any ERISA Affiliate; or  

	  	        (iv)    the adoption of any amendment to a Plan subject to Section 412 of the Code, if
such  amendment results in a material increase in contributions or Unfunded Pension Liability;  

	  	
                      
(d)    of any material change in accounting policies or financial reporting practices by the Company
or any of its consolidated Subsidiaries which would reasonably be expected to materially affect the Company’s
consolidated financial reports; and 

	  	
                      
(e)    of any change in the Company’s senior unsecured long-term debt ratings as publicly
announced by either S&P or Moody’s including placement of such ratings on watch status, provided that
any failure by the Company to give notice of such change shall not affect the Company’s payment obligations
hereunder and such failure shall not constitute an Event of Default. 

	  	Each notice under this Section shall be accompanied
by a written statement by a Responsible Officer setting forth details of the occurrence referred to therein, and stating
what action the Company or any affected Subsidiary proposes to take with respect thereto and at what time. 

47. 

	  	Each notice under subsection 6.03(a) shall describe
with particularity any and all provisions of this Agreement or other Loan Document (if any) that have been breached or
violated. 

	  	        6.04    Preservation
of Corporate Existence, Etc.   Except pursuant to a transaction permitted under Section 7.02 and
Section 7.03, the Company shall, and shall cause each Material Subsidiary to: 

	  	
                      
(a)     preserve and maintain in full force and effect its corporate existence and good standing
under the laws of its state or jurisdiction of incorporation; 

	  	
                      
(b)    to the extent practicable, using reasonable efforts, preserve and maintain in full force and
effect all governmental rights, privileges, qualifications, permits, licenses and franchises necessary or desirable in
the normal conduct of its business except (x) when the non-preservation and non-maintenance of such rights,
privileges, qualifications, permits, licenses or franchises would not reasonably be expected to have a Material Adverse
Effect or (y) in connection with transactions permitted by Section 7.03 and sales of assets permitted by
Section 7.02; 

	  	
                      
(c)    use reasonable efforts, in the ordinary course of business, to preserve its business
organization and goodwill except when in the reasonable judgment of the Company it is not economical to do so or where
the failure to do so would not reasonably be expected to have a Material Adverse Effect; and 

	  	
                      
(d)    to the extent practicable, using reasonable efforts, preserve or renew all of its registered
patents, trademarks, trade names and service marks, except when non-preservation or non-renewal of such patents,
trademarks, trade names or service marks would not reasonably be expected to have a Material Adverse Effect. 

	  	        6.05    Maintenance
of Property.   The Company shall maintain, and shall cause each Subsidiary to maintain, and preserve
all its property which is used or useful in its business in good working order and condition, ordinary wear and tear and
casualty loss excepted and make all necessary repairs thereto and renewals and replacements thereof except when in the
reasonable judgment of the Company it is not economical to do so or where the failure to do so would not reasonably be
expected to have a Material Adverse Effect. The Company and each Subsidiary shall use the standard of care typical in
the industry in the operation and maintenance of its facilities except where the failure to do so would not reasonably
be expected to have a Material Adverse Effect. 

	  	        6.06    Insurance.   The
Company shall maintain, and shall cause each Material Subsidiary to maintain, with financially sound and reputable
insurers or independent reinsurers, insurance with respect to its properties and business against loss or damage of the
kinds and in the amounts determined by the Company to be necessary or desirable in the exercise of its reasonable
business judgment. 

	  	        6.07    Payment
of Obligations.   The Company shall, and shall cause each Subsidiary to, pay and discharge as the
same shall become due and payable, all their respective obligations and liabilities, including: 

48. 

	  	
                      
(a)    all tax liabilities, assessments and governmental charges or levies upon it or its properties
or assets, unless the same are being contested in good faith by appropriate proceedings and adequate reserves in
accordance with GAAP are being maintained by the Company or such Subsidiary or unless the failure to pay or discharge
would not have a Material Adverse Effect; 

	  	
                      
(b)    all lawful claims which, if unpaid, would by law become a Lien upon its property except when
the failure to pay or discharge would not have a Material Adverse Effect; and 

	  	
                      
(c)    all Indebtedness, as and when due and payable (except for such Indebtedness which is
contested by the Company or any Subsidiary in good faith or where the failure to pay or discharge would not reasonably
be expected to result in a Material Adverse Effect), but subject to any subordination provisions contained in any
instrument or agreement evidencing such Indebtedness. 

	  	        6.08    Compliance
with Laws.   The Company shall comply, and shall cause each Subsidiary to comply, in all material
respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business
(including the Federal Fair Labor Standards Act), except such as may be contested in good faith or as to which a bona
fide dispute may exist or where the failure to comply would not have a Material Adverse Effect. 

	  	        6.09    Compliance
with ERISA.   The Company shall, and shall cause each of its ERISA Affiliates to: (a) maintain each
Plan in compliance in all material respects with the applicable provisions of ERISA, the Code and other federal or state
law except where non-compliance would not reasonably be expected to result in a Material Adverse Effect; and (b) make
all required contributions to any Plan subject to Section 412 of the Code except where failure to make any
contribution would not reasonably be expected to result in a Material Adverse Effect. 

	  	        6.10    Inspection
of Property and Books and Records.   The Company shall maintain and shall cause each Material
Subsidiary to maintain proper books of record and account, in which full, true and correct entries in conformity with
GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of
the Company and such Subsidiary. Subject to reasonable safeguards to protect confidential information, the Company shall
permit, and shall cause each Material Subsidiary to permit, representatives and independent contractors of the Agent or
any Bank to visit and inspect any of their respective properties, to examine their respective corporate, financial and
operating records, and make copies thereof or abstracts therefrom, and with respect to the Company but not its
Subsidiaries to discuss their respective affairs, finances and accounts with the Company’s directors, senior
officers, and independent public accountants, all at such reasonable times during normal business hours and as often as
may be reasonably desired, upon reasonable advance notice to the Company. Such inspections and examinations described in
the preceding sentence (i) by or on behalf of any Bank shall, unless occurring at a time when an Event of Default shall
be continuing, be at such Bank’s expense and (ii) by or on behalf of the Agent, other than the first such
inspection or examination occurring during any calendar year or any inspections and examination occurring at a time when
an Event of Default be continuing, shall be at the Agent’s expense; all other such inspections and visitations
shall be at the Company’s expense and at any time during normal business hours and without advance notice. 

49.  

	  	        6.11    Environmental
Laws.   The Company shall, and shall cause each Subsidiary to, conduct its operations and keep and
maintain its property in compliance with all Environmental Laws except where the failure to comply would not have a
Material Adverse Effect. 

	  	        6.12    Use
of Proceeds.   The Company shall use the proceeds of the Credit Extensions for commercial paper
liquidity support, to repurchase the Company’s capital stock, to refinance Indebtedness under the Existing 364-Day
Credit Agreement and a portion of the Existing Bridge Credit Agreement and for other general corporate purposes
including Acquisitions not in contravention of any Requirement of Law or any provision of this Agreement. 

	  	        6.13    Guarantors.   The
Company shall cause (i) each Subsidiary that (a) is created for the purpose of acquiring assets or capital stock or
other ownership interests in connection with an Acquisition and (b) becomes a Material Subsidiary after giving effect to
such Acquisition, and (ii) each Material Subsidiary acquired in connection with an Acquisition, in each case, to
guarantee the Obligations pursuant to the Guaranty promptly and in any event within 30 days following the date of
creation or acquisition thereof. In furtherance of the foregoing, the Company shall cause such Material Subsidiary to
(i) execute a supplement to the Guaranty and (ii) deliver such other documentation as the Agent may reasonably request
in connection with the foregoing, including, without limitation, certified resolutions and other authority documents of
such Material Subsidiary and, to the extent requested by the Agent, favorable opinions of counsel to such Material
Subsidiary (which shall cover, among other things, the legality, validity, binding effect and enforceability of the
Guaranty), all in form, content and scope reasonably satisfactory to the Agent. 

ARTICLE VII 

NEGATIVE COVENANTS  

	  	        So long
as any Bank shall have any Commitment hereunder, or any Loan or other Obligation (other than indemnification) shall
remain unpaid or unsatisfied, unless the Majority Banks waive compliance in writing: 

	  	        7.01    Limitation
on Liens.   The Company shall not, and shall not suffer or permit any Subsidiary to, directly or
indirectly, make, create, incur, assume or suffer to exist any Lien upon or with respect to any part of its property,
whether now owned or hereafter acquired, other than the following (“Permitted Liens”): 

	  	
                      
(a)    any Lien existing on property of the Company or any Subsidiary on the Closing Date and set
forth in Schedule 7.01 or shown as a liability on the Company’s consolidated financial statements as of
March 31, 2004 securing Indebtedness outstanding on such date, provided that the aggregate amount of all such
Indebtedness secured by all such Liens does not exceed $10,000,000; 

	  	
                      
(b)    any Lien created under any Loan Document or under any “Loan  Document” as defined
in the Existing Credit Agreements;  

	  	
                      
(c)    Liens for taxes, fees, assessments or other governmental charges  which are not delinquent or
remain payable without penalty, or to the extent that non-payment thereof  is 

50. 

	  	permitted by Section 6.07, provided that no notice
of lien has been filed or recorded under the Code; 

	  	
                      
(d)    carriers’, warehousemen’s, mechanics’, landlords’, materialmen’s,
repairmen’s or other similar Liens arising in the ordinary course of business which are not delinquent or remain
payable without penalty or which are being contested in good faith and by appropriate proceedings, which proceedings
have the effect of preventing the forfeiture or sale of the property subject thereto; 

	  	
                      
(e)    Liens consisting of pledges or deposits required in the ordinary course of business in
connection with workers’ compensation, unemployment insurance and other social security legislation; 

	  	
                      
(f)    Liens on the property of the Company or any of its Subsidiaries securing (i) the
non-delinquent performance of bids, trade contracts (other than for borrowed money), leases, statutory obligations,
(ii) contingent obligations on surety and appeal bonds, and (iii) other non-delinquent obligations of a like
nature; in each case, incurred in the ordinary course of business, provided all such Liens in the aggregate would not
(even if enforced) cause a Material Adverse Effect; 

	  	
                      
(g)    easements, rights-of-way, restrictions and other similar encumbrances incurred in the
ordinary course of business which, in the aggregate, are not substantial in amount, and which do not in any case
materially detract from the value of the property subject thereto or interfere with the ordinary conduct of the
businesses of the Company and its Subsidiaries; 

	  	
                      
(h)    Liens on (i) assets of corporations which become Subsidiaries after the date of this
Agreement, provided, however, that such Liens existed at the time the respective corporations became
Subsidiaries, and (ii) any assets prior to the acquisition thereof by the Company or any Subsidiary and not created
in contemplation of such acquisition, provided, however, that such Liens do not encumber any other
property or assets; 

	  	
                      
(i)    purchase money security interests on any property acquired or held by the Company or its
Subsidiaries in the ordinary course of business, securing Indebtedness incurred or assumed for the purpose of financing
all or any part of the cost of acquiring such property; providedthat (i) any such Lien attaches to
such property concurrently with or within 20 days after the acquisition thereof, (ii) such Lien attaches solely to
the property so acquired in such transaction, and (iii) the principal amount of the Indebtedness secured thereby
does not exceed 100% of the cost of such property; 

	  	
                      
(j)    Liens securing obligations in respect of capital leases on assets subject to such leases; 

	  	
                      
(k)    Liens arising solely by virtue of any statutory or common law provision relating to
banker’s liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained
with a creditor depository institution; providedthat (i) such deposit account is not a dedicated cash
collateral account and is not subject to restrictions against access by the Company in excess of those set forth by
regulations promulgated by the FRB, and (ii) such deposit account is not intended by the Company or any Subsidiary
to provide collateral 

51. 

	  	to the depository institution except in either case when
such deposit accounts are established or required in the ordinary course of business and would not have a Material
Adverse Effect; 

	  	
                      
(l)     Any extensions, renewals or replacements of the Liens permitted  by clauses (a), (f), (h),
(i) and (j) above; and  

	  	
                      
(m)    Notwithstanding the provisions of subsections 7.01(a) through (l), there shall be
permitted Liens on property (including Liens which would otherwise be in violation of such subsections),
provided that the sum of the aggregate Indebtedness of the Company and its Subsidiaries secured by all Liens
permitted under this subsection (m), excluding the Liens permitted under subsections (a) through (l), shall
not exceed an amount equal to 15% of the Company’s total consolidated assets as shown on its consolidated balance
sheet for its most recent prior fiscal quarter. 

	  	        7.02    Disposition
of Assets.   Except as otherwise permitted by any other provision of this Agreement, the Company
shall not, and shall not suffer or permit any Material Subsidiary to, directly or indirectly, sell, assign, lease,
convey, transfer or otherwise dispose of (whether in one or a series of transactions) any property (including accounts
and notes receivable, with or without recourse) or enter into any agreement to do any of the foregoing, except: 

	  	
                      
(a)    dispositions of inventory, or used, worn-out or surplus equipment, all in the ordinary course
of business; 

	  	
                      
(b)    dispositions on reasonable commercial terms and for fair value or which would not have a
Material Adverse Effect, provided that dispositions of the stock of any Material Subsidiary shall not be permitted under
this subsection (b); 

	  	
                      
(c)    dispositions of property between the Company and any consolidated Subsidiary or among
consolidated Subsidiaries; and 

	  	
                      
(d)    other dispositions of property during the term of this Agreement (excluding dispositions
permitted under subsections 7.02(a) through (c)) whose net book value in the aggregate shall not exceed 25% of the
Company’s total consolidated assets as shown on its consolidated balance sheet for its most recent prior fiscal
quarter. 

	  	        7.03    Consolidations
and Mergers.   The Company shall not, and shall not suffer or permit any Material Subsidiary to,
merge, consolidate with or into, or convey, transfer, lease or otherwise dispose of (whether in one transaction or in a
series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor
of any Person, except: 

	  	
                      
(a)    any Person may merge with the Company, provided that the Company shall be the continuing or
surviving corporation; 

	  	
                      
(b)    any Subsidiary may merge with the Company, provided that the Company shall be the continuing
or surviving corporation, or with any one or more Subsidiaries, provided that (i) if any transaction shall be between a
Subsidiary and a Wholly-Owned Subsidiary, the Wholly-Owned Subsidiary shall be the continuing or surviving corporation
and (ii) if any transaction shall be between a Guarantor and any Subsidiary that is not a Guarantor, the

52. 

	  	Guarantor shall be the continuing or surviving
corporation or, concurrently with such transaction, such continuing or surviving corporation shall become a Guarantor
pursuant to the Guaranty; and 

	  	
                      
(c)    the Company or any Subsidiary may convey, transfer, lease or otherwise dispose of all or
substantially all of its assets (upon voluntary liquidation or otherwise), to the Company or another Wholly-Owned
Subsidiary, as the case may be, provided that if (i) any such transaction shall be between a Guarantor and any
Wholly-Owned Subsidiary that is not a Guarantor, and (ii) such Wholly-Owned Subsidiary shall become a Material
Subsidiary after giving effect to such transaction, such Wholly-Owned Subsidiary shall, concurrently with such
transaction, become a Guarantor pursuant to the Guaranty. 

	  	        7.04    Transactions
with Affiliates.   The Company shall not, and shall not suffer or permit any Subsidiary to, enter
into any transaction with any Affiliate (other than a Wholly-Owned Subsidiary) of the Company, except transactions (a)
entered into in good faith and (b) upon commercially reasonable terms and taking into consideration the totality of
circumstances pertaining to such transaction as determined by the Company. 

	  	        7.05    Use
of Proceeds.   The Company shall not, and shall not suffer or permit any Subsidiary to, use any
portion of the Loan proceeds, directly or indirectly, in a manner which violates any applicable Requirement of Law and
which would have a Material Adverse Effect (provided that this Section 7.05 shall not be deemed to permit
the use of Loan proceeds in violation of any Requirement of Law applicable to any Bank). Notwithstanding the foregoing,
at no time shall more than 25% of the value (as determined by a method deemed reasonable for purposes of applicable
regulations relating to Margin Stock) of the Company’s assets consist of Margin Stock, unless the Company has taken
all necessary action so that in the event that more than 25% of the Company’s assets consist of Margin Stock there
shall occur no violation of any Requirement of Law applicable to it or any Bank. 

	  	        7.06    Restricted
Payments.   The Company shall not, and shall not suffer or permit any Subsidiary (other than a
Wholly-Owned Subsidiary) to, declare or make any dividend payment or other distribution of assets, properties, cash,
rights, obligations or securities on account of any shares of any class of its capital stock, or purchase, redeem or
otherwise acquire for value any shares of its capital stock or any warrants, rights or options to acquire such shares,
now or hereafter outstanding; except that the Company or any non-Wholly-Owned Subsidiary may: 

	  	
                      
(a)    declare and make dividend payments or other distributions payable solely in its common stock; 

	  	
                      
(b)    purchase, redeem or otherwise acquire shares of its common stock or warrants or options to
acquire any such shares with the proceeds received from the substantially concurrent issue of new shares of its common
stock; and 

	  	
                      
(c)    (i) in the case of the Company, declare or pay cash dividends or cash distributions to
its stockholders and purchase, redeem or otherwise acquire shares of its capital stock or warrants, rights or options to
acquire any such shares for cash provided, that, before and immediately after giving effect to such proposed
action, no Default or Event of Default exists or would exist, and (ii) in the case of any non-Wholly-Owned Subsidiary,
declare or pay cash dividends or cash distributions to its stockholders and purchase, redeem or otherwise acquire

53. 

	  	shares of its capital stock or warrants, rights or
options to acquire any such shares for cash provided, that, the Company or its respective Subsidiary which owns
the equity interest or interests in such Subsidiary paying such dividends or distributions or purchasing, redeeming or
otherwise acquiring such shares or warrants, rights or options receives at least its proportionate share of such
dividends or distributions or receives a proportionate offer to purchase, redeem or otherwise acquire such shares or
warrants, rights or options, the proportionality of which in each case shall be based upon the affected class or classes
of securities. 

	  	        7.07    ERISA.   The
Company shall not, and shall not suffer or permit any of its ERISA Affiliates to: (a) engage in a prohibited
transaction or violation of the fiduciary responsibility rules with respect to any Plan which has resulted or would
reasonably be expected to result in a Material Adverse Effect; or (b) engage in a transaction that could be subject to
Section 4069 or 4212(c) of ERISA and which would reasonably be expected to result in a Material Adverse Effect.

	  	        7.08    Change
in Business.   The Company shall not, and shall not suffer or permit any Subsidiary to, engage in any
business that would substantially change the general nature of the business conducted by the Company and its
consolidated Subsidiaries on the Closing Date. 

	  	        7.09    Accounting
Changes.   The Company shall not, and shall not suffer or permit any Material Subsidiary to, make any
significant change in accounting treatment or reporting practices, except as required by GAAP, or change the fiscal year
of the Company or of any such Subsidiary, if such change would reasonably be expected to result in a Material Adverse
Effect.

	  	        7.10    Interest
Coverage.   The Company shall not permit as of the last day of any fiscal quarter (commencing with
the period ending September 30, 2004), on a consolidated basis, the ratio of (i) Earnings Before Interest and Taxes
to (ii) Interest Expense, to be less than 3.0 to 1.0. For purposes of this section, “Earnings Before Interest
and Taxes” means as at the end of any fiscal quarter of the Company for the period of four consecutive fiscal
quarters ended as at such date, the sum of (a) the consolidated net income (or net loss) of the Company and its
Subsidiaries for such period as determined in accordance with GAAP, plus (b) all amounts treated as interest expense for
such period to the extent included in the determination of such consolidated net income (or loss); plus (c) all taxes
accrued for such period on or measured by income to the extent included in the determination of such consolidated net
income (or loss); provided, however, that consolidated net income (or loss) shall be computed for the
purposes of this definition without giving effect to extraordinary losses or extraordinary gains for such period; and
“Interest Expense” means as at the end of any fiscal quarter of the Company for the period of four consecutive
fiscal quarters ended as at such date, all amounts treated as interest expense for such period to the extent included in
the determination of the Company’s consolidated net income (or net loss) for such period as determined in
accordance with GAAP. 

	  	        7.11    Subsidiary
Indebtedness.   The Company shall not permit as of the last day of any fiscal quarter (commencing
with the period ending March 31, 2004), the aggregate Indebtedness of its consolidated Subsidiaries to exceed
$50,000,000. For purposes of this Section 7.11, the term “Indebtedness” shall be deemed to exclude
Indebtedness of a Person which becomes a Subsidiary after the date hereof, provided that such excluded
Indebtedness existed at the time such Person became a Subsidiary and was not created in anticipation thereof. 

54. 

ARTICLE VIII 

EVENTS OF DEFAULT  

	  	        8.01    Event
of Default.   Any of the following shall constitute an “Event of Default”: 

	  	
                      
(a)    Non-Payment.   The Company fails to pay, (i) when and as required
to be paid herein, any amount of principal of any Loan, or (ii) within two (2) Business Days following written
notice to the Company given by the Agent or any Bank after the same becomes due, any interest, fee, Reimbursement
Obligation or any other amount payable hereunder or under any other Loan Document; or 

	  	
                      
(b)    Representation or Warranty.   Any representation or warranty by the
Company or any Subsidiary made or deemed made herein, in any other Loan Document, or which is contained in any
certificate, document or financial or other statement by the Company, any Subsidiary, or any Responsible Officer,
furnished at any time under this Agreement, or in or under any other Loan Document, is incorrect in any material respect
on or as of the date made or deemed made; or 

	  	
                      
(c)    Specific Defaults.   The Company fails to perform or observe any term,
covenant or agreement contained in any of Sections 6.03(a), 6.12, 6.13, 7.02, 7.03, 7.04, 7.05, 7.06, 7.09, 7.10 or
7.11; or 

	  	
                      
(d)    Other Defaults.   The Company fails to perform or observe (i) Section
6.01(a) hereunder and such default shall continue unremedied for a period of 5 days after the earlier of (A) the date
upon which a Responsible Officer knew of such failure or (B) the date upon which written notice thereof is given to the
Company by the Agent or any Bank; or (ii) any other term or covenant contained in the Agreement or any other Loan
Document, and such default shall continue unremedied for a period of 30 days after the earlier of (A) the date upon
which a Responsible Officer knew of such failure or (B) the date upon which written notice thereof is given to the
Company by the Agent or any Bank; or 

	  	
                      
(e)    Cross-Default.   (i) The Company or any Material
Subsidiary fails to perform or observe any condition or covenant, or any other event shall occur or condition shall
exist, under (a) the Existing Credit Agreements or (b) any other agreement or instrument relating to any Indebtedness
having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to
all creditors under any combined or syndicated credit arrangement) of more than $100,000,000, and such failure continues
after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, if
the effect of such failure, event or condition is to cause such Indebtedness to be declared to be due and payable prior
to its stated maturity; provided, that, with respect to any such breach occurring as a result of a change
of control under any agreement or instrument evidencing such Indebtedness of a Subsidiary of more than $100,000,000 upon
the acquisition of such Subsidiary, such breach shall cause an Event of Default hereunder only if such breach has not
been cured (or the Indebtedness related thereto prepaid in full and the related agreements and instruments shall be
terminated) within three days after the occurrence thereof; or (ii) if there shall occur any other default or event
of default, however denominated, under any cross default 

55. 

	  	provision under any agreement or instrument relating to
any such Indebtedness of more than $100,000,000; or 

	  	
                      
(f)    Insolvency; Voluntary Proceedings.   The Company or any Material
Subsidiary (i) ceases or fails to be solvent, or generally fails to pay, or admits in writing its inability to pay,
its debts as they become due, subject to applicable grace periods, if any, whether at stated maturity or otherwise;
(ii) voluntarily ceases to conduct its business in the ordinary course; (iii) commences any Insolvency
Proceeding with respect to itself; or (iv) takes any action to effectuate or authorize any of the foregoing; or

	  	
                      
(g)    Involuntary Proceedings.   (i) Any involuntary Insolvency
Proceeding is commenced or filed against the Company or any Material Subsidiary, or any writ, judgment, warrant of
attachment, execution or similar process, is issued or levied against a substantial part of the Company’s or any
such Material Subsidiary’s properties, and any such proceeding or petition shall not be dismissed, or such writ,
judgment, warrant of attachment, execution or similar process shall not be released, stayed, vacated or fully bonded
within 60 days after commencement, filing, issuance or levy; (ii) the Company or any Material Subsidiary admits the
material allegations of a petition against it in any Insolvency Proceeding, or an order for relief (or similar order
under non-U.S. law involving a material portion of the Company’s or such Material Subsidiary’s total assets)
is ordered in any Insolvency Proceeding involving the Company or any such Material Subsidiary; or (iii) the Company
or any Material Subsidiary acquiesces in the appointment of a receiver, trustee, custodian, conservator, liquidator,
mortgagee in possession (or agent therefor), or other similar Person for itself or a substantial portion of its property
or business; or 

	  	
                      
(h)    ERISA.   (i) An ERISA Event shall occur with respect to a Pension
Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of the Company
under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of
$50,000,000; (ii) the aggregate amount of Unfunded Pension Liability among all Pension Plans at any time exceeds
$50,000,000; or (iii) the Company or any ERISA Affiliate shall fail to pay when due, after the expiration of any
applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of
ERISA under a Multiemployer Plan in an aggregate amount in excess of $50,000,000 and, in the case of any of clauses
(i) through (iii), such liability or failure to pay shall not have been vacated, discharged, stayed, appealed or
paid within ten (10) Business Days after such liability or payment obligation arises; or 

	  	
                      
(i)    Monetary Judgments.   One or more non-interlocutory judgments,
non-interlocutory orders, non-interlocutory decrees or arbitration awards is entered against the Company or any Material
Subsidiary involving in the aggregate a liability (to the extent not covered by independent third-party insurance as to
which the insurer does not dispute coverage) as to any single or related series of transactions, incidents or
conditions, of $50,000,000 or more, and the same shall not have been vacated, discharged, stayed or appealed within the
applicable period for appeal from the date of entry thereof or paid within ten (10) Business Days after the same becomes
non-appealable; or 

56. 

	  	
                      
(j)    Non-Monetary Judgments.   Any non-monetary judgment, order or decree is
entered against the Company or any Subsidiary which does or would reasonably be expected to have a Material Adverse
Effect; or 

	  	
                      
(k)    Change of Control.   There occurs any Change of Control. For purposes
of this Section 8.01(k), (i) a “Change of Control” shall occur if any person or group of persons
becomes the beneficial owner of 25% or more of the voting power of the Company for a period of 30 days or more; and
(ii) the term “person” shall have the meaning set forth in Section 13(d) of the Exchange Act and the
term “beneficial owner” shall have the meaning set forth in Rule 13d-3 promulgated under the Exchange Act.

	  	
                      
(l)    Impairment of Guaranty.   (i) The Guaranty shall fail to remain in
full force or effect or any action shall be taken by the Company or any Guarantor to discontinue or to assert the
invalidity or unenforceability of the Guaranty, or (ii) any Guarantor shall fail to comply with any of the material
terms or provisions of the Guaranty to which it is a party, or (iii) at any time prior to a Guarantor’s release
from the Guaranty in accordance with the terms of this Agreement, such Guarantor shall deny that it has any further
liability under the Guaranty to which it is a party, or shall give notice to such effect. 

	  	        8.02    Remedies.   If
any Event of Default occurs, the Agent shall, at the request of, or may, with the consent of, the Majority Banks,

	  	
                      
(a)    declare the obligation of each Bank to make any Loans and the obligation of each LC Issuer to
issue Facility LCs to be terminated, whereupon such obligations and the corresponding Commitments of each Bank shall be
terminated; 

	  	
                      
(b)    declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid
thereon, and all other Obligations and other amounts owing or payable hereunder or under any other Loan Document to be
immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived by the Company; 

	  	
                      
(c)    while any Default is continuing, if the Agent determines that the Collateral Shortfall Amount
at such time is greater than zero, make demand on the Company to pay, and the Company will, forthwith upon such demand
and without any further notice or act, pay to the Agent an amount equal to the Collateral Shortfall Amount, which funds
shall be deposited in the Facility LC Collateral Account; 

	  	
                      
(d)    at any time or from time to time after funds are deposited in the Facility LC Collateral
Account, apply such funds to the payment of the Reimbursement Obligations and any other amounts as shall from time to
time have become due and payable by the Company to the Banks or the LC Issuers under the Loan Documents; and 

	  	
                      
(e)    exercise on behalf of itself and the Banks all rights and remedies available to it and the
Banks under the Loan Documents or applicable law; 

	  	provided, however, that upon the
occurrence of any event specified in subsection (f) or (g) of Section 8.01 (in the case of clause (i) of
subsection (g) upon the expiration of the 60-day period mentioned therein), (i) the obligation of each Bank to
make Loans and the obligation and power 

57. 

	  	of the LC Issuers to issue Facility LCs shall
automatically terminate, (ii) the unpaid principal amount of all outstanding Loans and all interest and other
amounts as aforesaid shall automatically become due and payable, and (iii) the Company will be and thereby become
obligated to pay to the Agent an amount in immediately available funds, which funds shall be held in the Facility LC
Collateral Account, equal to the Collateral Shortfall Amount, in each case without further act of the Agent or any Bank
without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the
Company. At any time while any Default is continuing, neither the Company nor any Person claiming on behalf of or
through the Company shall have any right to withdraw any of the funds held in the Facility LC Collateral Account. After
all of the Obligations have been indefeasibly paid in full and all Commitments hereunder have been terminated, any funds
remaining in the Facility LC Collateral Account shall be returned by the Agent to the Company or paid to whomever may be
legally entitled thereto at such time 

	  	        8.03    Rights
Not Exclusive.   The rights provided for in this Agreement and the other Loan Documents (whether now
existing or hereafter arising) are cumulative and are not exclusive of any other rights, powers, privileges or remedies
provided by law or in equity. 

ARTICLE IX 

THE AGENT  

	  	        9.01    Appointment
and Authorization.   Each Bank hereby irrevocably appoints, designates and authorizes the Agent to
take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such
powers and perform such duties as are expressly delegated to it by the terms of this Agreement or any other Loan
Document, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary
contained elsewhere in this Agreement or in any other Loan Document, the Agent shall not have any duties or
responsibilities, except those expressly set forth herein, nor shall the Agent have or be deemed to have any fiduciary
relationship with any Bank, 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 Agent. 

	  	        9.02    Delegation
of Duties.   The Agent may execute any of its duties under this Agreement or any other Loan Document
by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters
pertaining to such duties. The Agent shall not be responsible for the negligence or misconduct of any agent or
attorney-in-fact that it selects with reasonable care. 

	  	        9.03    Liability
of Agent.   None of the Agent-Related Persons shall (i) be liable for any action taken or
omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the
transactions contemplated hereby (except for its own gross negligence or willful misconduct), or (ii) be
responsible in any manner to any of the Banks for any recital, statement, representation or warranty made by the Company
or any Subsidiary or Affiliate of the Company, or any officer thereof, contained in this Agreement or in any other Loan
Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the
Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness,
genuineness, enforceability or sufficiency of 

58. 

	  	this Agreement or any other Loan Document, or for any
failure of the Company or any other party to any Loan Document to perform its obligations hereunder or thereunder. No
Agent-Related Person shall be under any obligation to any Bank 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 the Company or any of the Company’s Subsidiaries or Affiliates. 

	  	        9.04    Reliance
by Agent. 

	  	
                      
(a)    The Agent shall be entitled to rely, and shall be fully protected in relying, upon any
writing, resolution, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message,
statement 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
Company), independent accountants and other experts selected by the Agent. The 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 Majority Banks (or all the Banks if specifically required hereunder) as it deems appropriate and,
if it so requests, it shall first be indemnified to its satisfaction by the Banks against any and all liability and
expense which may be incurred by it by reason of taking or continuing to take any such action. The Agent shall in all
cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in
accordance with a request or consent of the Majority Banks (or all the Banks if specifically required hereunder) and
such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Banks. 

	  	
                      
(b)    For purposes of determining compliance with the conditions specified in Section 4.01,
each Bank that has executed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied
with, each document or other matter either sent on or prior to the Closing Date by the Agent to such Bank for consent,
approval, acceptance or satisfaction, or required thereunder to be consented to or approved by or acceptable or
satisfactory to the Bank. 

	  	        9.05    Notice
of Default.   The Agent shall not be deemed to have knowledge or notice of the occurrence of any
Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to
be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or
the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a
“notice of default”. The Agent will notify the Banks of its receipt of any such notice. The Agent shall take
such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance
with Article VIII; provided, however, that unless and until the Agent has received any such request, the
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 or in the best interest of the Banks. 

	  	        9.06    Credit
Decision.   Each Bank acknowledges that none of the Agent-Related Persons has made any representation
or warranty to it, and that no act by the Agent hereafter taken, including any review of the affairs of the Company and
its Subsidiaries, shall be deemed to constitute any representation or warranty by any Agent-Related Person to any Bank.
Each 

59. 

	  	Bank
represents to the Agent that it has, independently and without reliance upon any Agent-Related Person and based on such
documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business,
prospects, operations, property, financial and other condition and creditworthiness of the Company and its Subsidiaries,
and all applicable bank regulatory laws relating to the transactions contemplated hereby, and made its own decision to
enter into this Agreement and to extend credit to the Company hereunder. Each Bank also represents that it will,
independently and without reliance upon any Agent-Related Person 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 investigations as it deems necessary to
inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of
the Company. Except for notices, reports and other documents expressly herein required to be furnished to the Banks by
the Agent, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information
concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the
Company which may come into the possession of any of the Agent-Related Persons. 

	  	        9.07    Indemnification.   Whether
or not the transactions contemplated hereby are consummated, the Banks shall indemnify upon demand the Agent-Related
Persons (to the extent not reimbursed by or on behalf of the Company and without limiting the obligation of the Company
to do so), pro rata, from and against any and all Indemnified Liabilities; provided, however, that no Bank
shall be liable for the payment to the Agent-Related Persons of any portion of such Indemnified Liabilities resulting
solely from such Person’s gross negligence or willful misconduct. Without limitation of the foregoing, each Bank
shall reimburse the Agent upon demand for its ratable share of any costs or out-of-pocket expenses (including Attorney
Costs) incurred by the Agent in connection with the preparation, execution, delivery, administration, modification,
amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect
of rights or responsibilities under, this Agreement, any other Loan Document, or any document contemplated by or
referred to herein, to the extent that the Agent is not reimbursed for such expenses by or on behalf of the Company. The
undertaking in this Section shall survive the payment of all Obligations hereunder and the resignation or
replacement of the Agent. 

	  	        9.08    Agent
in Individual Capacity.   Bank One, Credit Suisse First Boston, Wachovia Bank, National Association,
The Bank of New York, The Bank of Tokyo-Mitsubishi, Ltd., and their respective Affiliates may make loans to, issue
letters of credit for the account of, accept deposits from, acquire equity interests in and generally engage in any kind
of banking, trust, financial advisory, underwriting or other business with the Company and its Subsidiaries and
Affiliates as though Bank One were not the Agent and Credit Suisse First Boston was not the Syndication Agent and
Wachovia Bank, National Association, The Bank of New York and The Bank of Tokyo-Mitsubishi, Ltd. were not the
Documentation Agents hereunder and without notice to or consent of the Banks. The Banks acknowledge that, pursuant to
such activities, Bank One, Credit Suisse First Boston, Wachovia Bank, National Association, The Bank of New York, The
Bank of Tokyo-Mitsubishi, Ltd. or their respective Affiliates may receive information regarding the Company or its
Affiliates (including information that may be subject to confidentiality obligations in favor of the Company or such
Subsidiary) and acknowledge that neither the Agent, the Syndication Agent nor the Documentation Agents shall be under
any 

60. 

	  	        obligation
to provide such information to them. With respect to its Loans, each of Bank One, Credit Suisse First Boston, Wachovia
Bank, National Association, The Bank of New York and The Bank of Tokyo-Mitsubishi, Ltd. shall have the same rights and
powers under this Agreement as any other Bank and may exercise the same as though it were not the Agent, the Syndication
Agent or the Documentation Agents, as applicable, and the terms “Bank” and “Banks” include each of
Bank One, Credit Suisse First Boston, Wachovia Bank, National Association, The Bank of New York and The Bank of
Tokyo-Mitsubishi, Ltd. in its individual capacity. Notwithstanding anything herein to the contrary, the Arrangers, the
Syndication Agent and the Documentation Agents named herein shall not have any duties or liabilities under this
Agreement, except in their capacity, if any, as Banks. 

	  	        9.09    Successor
Agent.   The Agent may, and at the request of the Company (so long as no Default or Event of Default
exists at the time of such request) or the Majority Banks shall, resign as Agent upon 30 days’ notice to the Banks.
If the Agent resigns under this Agreement, the Company shall appoint from among the Banks a successor agent for the
Banks (unless an Event of Default then exists in which case the Majority Banks shall appoint the successor agent). If no
successor agent is appointed prior to the effective date of the resignation of the Agent, the Agent may appoint, after
consulting with the Banks and the Company, a successor agent from among the Banks. Upon the acceptance of its
appointment as successor agent hereunder, such successor agent shall succeed to all the rights, powers and duties of the
retiring Agent and the term “Agent” shall mean such successor agent and the retiring Agent’s appointment,
powers and duties as Agent shall be terminated. After any retiring Agent’s resignation hereunder as Agent, the
provisions of this Article IX and Sections 10.04 and 10.05 shall inure to its benefit as to any actions taken or
omitted to be taken by it while it was Agent under this Agreement. If no successor agent has accepted appointment as
Agent by the date which is 30 days following a retiring Agent’s notice of resignation, the retiring Agent’s
resignation shall nevertheless thereupon become effective and the Banks shall perform all of the duties of the Agent
hereunder until such time, if any, as the Company or the Majority Banks appoint a successor agent as provided for above. 

	  	        9.10    Withholding Tax. 

	  	
                      
(a)    If any Bank claims exemption from withholding tax under a United States tax treaty by
providing IRS Form W-8 BEN and such Bank sells, assigns, grants a participation in, or otherwise transfers all or part
of the Obligations of the Company to such Bank, such Bank agrees to notify the Agent of the percentage amount in which
it is no longer the beneficial owner of Obligations of the Company to such Bank. To the extent of such percentage
amount, the Agent will treat such Bank’s IRS Form W-8 BEN as no longer valid. 

	  	
                      
(b)    Subject to the requirements of this Agreement, if any Bank claiming exemption from United
States withholding tax by filing IRS Form W-8 ECI with the Agent sells, assigns, grants a participation in, or otherwise
transfers all or part of the Obligations of the Company to such Bank, such Bank agrees to undertake sole responsibility
for complying with the withholding tax requirements imposed by the Code. 

	  	
                      
(c)    If the IRS or any other Governmental Authority of the United States or any other jurisdiction
asserts a claim that the Agent did not properly withhold tax from amounts paid to or for the account of any Bank
(because the appropriate form was not delivered, was not 

61. 

	  	properly executed, or because such Bank failed to notify
the Agent of a change in circumstances which rendered the exemption from withholding tax ineffective, or for any other
reason) such Bank shall indemnify the Agent fully for all amounts paid, directly or indirectly, by the Agent as tax or
otherwise, including penalties and interest, and including any taxes imposed by any jurisdiction on the amounts payable
to the Agent under this subsection, together with all costs and expenses (including Attorney Costs). The obligation of
the Banks under this subsection shall survive the payment of all Obligations and the resignation or replacement of
the Agent. 

ARTICLE X 

MISCELLANEOUS  

	  	        10.01    Amendments
and Waivers.   No amendment or waiver of any provision of this Agreement or any other Loan Document,
and no consent with respect to any departure by the Company therefrom, shall be effective unless the same shall be in
writing and signed by the Majority Banks (or by the Agent at the written request of the Majority Banks) and the Company
and acknowledged by the Agent, and then any such waiver and consent shall be effective only in the specific instance and
for the specific purpose for which given; provided, however, that no such waiver, amendment, or consent
shall, unless in writing and signed by the Company and each Bank affected thereby, and acknowledged by the Agent, do any
of the following: 

	  	
                      
(a)    increase or extend the Commitment of any Bank (or reinstate any Commitment terminated
pursuant to subsection 8.02(a)); 

	  	
                      
(b)    postpone or delay any date fixed by this Agreement or any other Loan Document for any payment
of principal, interest, Facility Fees, Utilization Fees, Reimbursement Obligations, LC Fees or other material amounts
due to the Banks (or any of them) or the LC Issuers (or any of them) hereunder or under any other Loan Document; 

	  	
                      
(c)    reduce the principal of, or the rate of interest specified herein on any Loan, Reimbursement
Obligations or (subject to clause (ii) below) any Facility Fees, Utilization Fees, LC Fees or other amounts payable
hereunder or under any other Loan Document; 

	  	
                      
(d)    change the percentage of the Commitments or of the aggregate unpaid principal amount of the
Aggregate Outstanding Exposure which is required for the Banks or any of them to take any action hereunder; 

	  	
                      
(e)    amend this Section, or Section 2.14, or any provision herein providing for consent or
other action by all Banks; or 

	  	
                      
(f)    except pursuant to a transaction permitted under Section 7.02 and Section 7.03, release any
Guarantor from its obligations under the Guaranty; 

	  	and, provided further, that (i) no
amendment, waiver or consent shall, unless in writing and signed by the Agent in addition to the Majority Banks or all
the Banks, as the case may be, affect the rights or duties of the Agent under this Agreement or any other Loan Document,
(ii) any fee letter may be amended, or rights or privileges thereunder waived, in a writing executed by the parties
thereto, (ii) no amendment, waiver or consent of any provision herein relating to the LC 

62. 

	  	Issuers shall be effective without the written consent
of the LC Issuers and (iii) no amendments, consents or waivers are required to effectuate the increases in
Commitments pursuant to Section 2.07(b) except as provided in such Section. 

	  	        10.02    Notices. 

	  	
                      
(a)    All notices, requests and other communications shall be in writing (including, unless the
context expressly otherwise provides, by facsimile transmission, provided that any matter transmitted by facsimile
(i) shall be immediately confirmed by a telephone call to the recipient at the number specified on
Schedule 10.02, and (ii) shall be followed promptly by delivery of a hard copy original thereof) and
mailed, faxed or delivered, to the address or facsimile number specified for notices on Schedule 10.02; or,
as directed to the Company or the Agent, to such other address as shall be designated by such party in a written notice
to the other parties, and as directed to any other party, at such other address as shall be designated by such party in
a written notice to the Company and the Agent. 

	  	
                      
(b)    All such notices, requests and communications shall, when transmitted by overnight delivery,
or faxed, be effective when delivered for overnight (next-day) delivery, or transmitted in legible form by facsimile
machine, respectively, or if mailed, upon the fifth Business Day after the date deposited into the U.S. mail, or if
delivered, upon delivery; except that notices pursuant to Article II or IX shall not be effective until actually
received by the Agent. 

	  	
                      
(c)    Any agreement of the Agent, the Banks and the LC Issuers herein to receive certain notices by
telephone or facsimile is solely for the convenience and at the request of the Company. The Agent, the Banks and the LC
Issuers shall be entitled to rely on the authority of any Person purporting to be a Person authorized by the Company to
give such notice and, absent gross negligence or willful misconduct, the Agent, the Banks and the LC Issuers shall not
have any liability to the Company or other Person on account of any action taken or not taken by the Agent, the Banks or
the LC Issuers in reliance upon such telephonic or facsimile notice. The obligation of the Company to repay the Loans
and pay the Reimbursement Obligations shall not be affected in any way or to any extent by any failure by the Agent and
the Banks or the LC Issuers, as the case may be, to receive written confirmation of any telephonic or facsimile notice
or the receipt by the Agent and the Banks or the LC Issuers, as the case may be, of a confirmation which is at variance
with the terms understood by the Agent and the Banks or the LC Issuers to be contained in the telephonic or facsimile
notice. 

	  	        10.03    No
Waiver; Cumulative Remedies.   No failure to exercise and no delay in exercising, on the part of the
Agent, any Bank or any LC Issuer, any right, remedy, power or privilege hereunder, 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.

	  	        10.04    Costs
and Expenses.   The Company shall: 

	  	
                      
(a)    pay or reimburse the Agent within five Business Days after demand  for all reasonable costs
and expenses incurred by the Agent in connection with the development, preparation,
 documentation negotiation, syndication, distribution, administration and closing of  

63. 

	  	this Agreement and the Loan Documents and any other
documents prepared in connection therewith (whether or not closing occurs), and the administration of, and any
amendment, supplement, waiver or modification to (in each case, whether or not consummated), this Agreement, any Loan
Document and any such other documents, including reasonable Attorney Costs incurred by the Agent with respect thereto;
and 

	  	
                      
(b)    pay or reimburse the Agent, the Arrangers and each Bank within five Business Days after
demand for all reasonable costs and expenses (including Attorney Costs) incurred by them in connection with the
enforcement, attempted enforcement, or preservation of any rights or remedies under this Agreement or any other Loan
Document during the existence of an Event of Default or after acceleration of the Loans (including in connection with
any “workout” or restructuring regarding the Loans, and including in any Insolvency Proceeding or appellate
proceeding). 

	  	        10.05    Indemnity.   Whether
or not the transactions contemplated hereby are consummated, the Company shall indemnify and hold the Agent-Related
Persons, each Bank and each LC Issuer and each of its respective officers, directors, employees, counsel, agents and
attorneys-in-fact (each, an “Indemnified Person”) harmless from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, charges, fines, expenses and disbursements
(including reasonable Attorney Costs) of any kind or nature whatsoever which may at any time (including at any time
following repayment of the Loans and the termination, resignation or replacement of the Agent or replacement of any
Bank) result from an action, suit, proceeding or claim asserted against any such Indemnified Person by any Person not
entitled to indemnification under this section in any way relating to or arising out of this Agreement or any document
contemplated by or referred to herein or any act or omission of the Borrower contrary to the representations made in
Section 5.21, or the transactions contemplated hereby, or any action taken or omitted by any such Person under or in
connection with any of the foregoing, including with respect to any investigation, litigation or proceeding (including
any Insolvency Proceeding or appellate proceeding) related to or arising out of this Agreement, the Loans or any
Facility LC or the use of the proceeds thereof, whether or not any Indemnified Person is a party thereto (all the
foregoing, collectively, the “Indemnified Liabilities”);
provided, however, that the Company  shall not be liable to any Indemnified
Person for any portion of such Indemnified Liabilities resulting  from such Indemnified
Person’s gross negligence or willful misconduct. In the event this indemnity is
 unenforceable as a matter of law as to a particular matter or consequence referred to
herein, it shall  be enforceable to the full extent permitted by law. Promptly upon
receipt of notice of the making of  any claim or the initiation of any action, suit, or
proceeding (together, “Dispute”), the Indemnified  Person shall, if a
claim in respect thereof is to be made against the Company hereunder, notify the  Company
in writing thereof, provided that any failure to provide such notice shall not
excuse  the Company from its obligations under this Section, except to the extent that
such failure to notify  shall have materially prejudiced the Company’s position. The
Company shall have the right at its expense  to control the defense of any Dispute, provided the
Company has delivered prompt notice to the  Indemnified Person expressly agreeing to
assume the defense thereof and reaffirming its obligation to  indemnify and hold harmless
hereunder, with nationally-recognized counsel selected by the Company, but  reasonably
satisfactory to the Indemnified Person. In such event, the Company shall promptly notify
 the Indemnified Person of any and all material developments in such Dispute and the
Company shall not  agree to any settlement or material stipulation in such Dispute
without the prior written consent of  the Indemnified Person (such consent not to be  

64. 

	  	unreasonably withheld). Notwithstanding the foregoing,
if in the reasonable judgment of the Indemnified Person, there may exist bona fide legal defenses available to it
relating to the Dispute which conflict with those of the Company or another Indemnified Person, such Indemnified Person
shall have the right to select separate counsel, at the expense of the Company, to assert such legal defenses and
otherwise participate in the legal defense of such Dispute on behalf of such Indemnified Person. Notwithstanding the
foregoing, no Dispute subject to this paragraph shall be settled without the Company’s prior consent, not to be
unreasonably withheld; provided, however, that any Indemnified Person may settle any such Dispute without the
Company’s consent if (a) the market reputation of Bank One or its Affiliates, or any Bank or its Affiliates which
becomes an Indemnified Person under this Section 10.05, or the relationship of any of such Persons with their applicable
state or federal regulators, in the judgment of such Persons, is being or foreseeably will be materially impaired as a
result of the continuation of such Dispute, or (b) such Dispute involves or relates to any allegation of criminal
wrongdoing, or (c) the Company is disputing its obligation to indemnify under this Section, or (d) the Company has
failed to respond to any request for such consent within 10 days of its receipt of written notice of such proposed
settlement. No Indemnified Person shall have any liability to the Company or any of its Affiliates for any indirect or
consequential damages in connection with its activities related to this Agreement. The agreements in this
Section shall survive payment of all other Obligations and the termination of the Commitments. 

	  	        10.06    Payments
Set Aside.   To the extent that the Company makes a payment to the Agent, the Banks or the LC
Issuers, or the Agent, the Banks or the LC Issuers exercise their right of set-off, and such payment or the proceeds of
such set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or
required (including pursuant to any settlement entered into by the Agent, such Bank or such LC Issuer in its discretion)
to be repaid to a trustee, receiver or any other party, in connection with any Insolvency Proceeding or otherwise, then
(a) to the extent of such recovery the obligation or part thereof originally intended to be satisfied shall be revived
and continued in full force and effect as if such payment had not been made or such set-off had not occurred, and (b)
each Bank severally agrees to pay to the Agent upon demand its pro rata share or other applicable share of any amount so
recovered from or repaid by the Agent. 

	  	        10.07    Successors
and Assigns.   The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns, except that the Company may not assign or transfer any of
its rights or obligations under this Agreement without the prior written consent of the Agent and each Bank and no Bank
shall assign any of its rights or obligations hereunder except in accordance with Section 10.08. 

	  	        10.08    Assignments,
Participations, etc. 

	  	
                      
(a)    Any Bank may, with the written consent of the Company at all times other than during the
existence of an Event of Default, and any LC Issuer and the Agent, which consents shall not be unreasonably withheld or
delayed, at any time assign and delegate to one or more Eligible Assignees (provided that no written consent of the
Company, any LC Issuer or the Agent shall be required in connection with any assignment and delegation by a Bank to an
Eligible Assignee that is an Affiliate of such Bank) (each an “Assignee”) all, or any ratable part of
all, of such Bank’s Outstanding Credit Exposure, the Commitment and the other rights and obligations of such Bank
hereunder, in a minimum amount of $5,000,000 (or such lesser amount 

65. 

	  	as the Company and the Agent may consent);
provided, however, that the Company and the Agent may continue to deal solely and directly with such Bank
in connection with the interest so assigned to an Assignee until (i) written notice of such assignment, together
with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the
Company and the Agent by such Bank and the Assignee; (ii) such Bank and its Assignee shall have delivered to the
Company and the Agent an Assignment and Acceptance in the form of Exhibit I (“Assignment and
Acceptance”) and (iii) the assignor Bank or Assignee has paid to the Agent a processing fee in the amount
of $3,500, provided that in the case of a transfer under Section 3.08, the assignor Bank shall not be
obligated to pay such processing fee. 

	  	
                      
(b)    From and after the date that the Agent notifies the Company and the assignor Bank that it has
received an executed Assignment and Acceptance which has been consented to by the Agent, the LC Issuers and by the
Company (if required), and payment of the above-referenced processing fee, (i) the Assignee thereunder shall be a
party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such
Assignment and Acceptance, shall have the rights and obligations of a Bank under the Loan Documents, and (ii) the
assignor Bank shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been
assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations
under the Loan Documents. 

	  	
                      
(c)    Within five Business Days after its receipt of notice by the Agent that it has received an
executed Assignment and Acceptance and payment of the processing fee (and provided that the Agent, the LC Issuers and
the Company consent to such assignment in accordance with subsection 10.08(a), to the extent required), the Company
shall, if requested, execute and deliver to the Agent Notes for the Assignee (if the Assignee was not previously a Bank
under this Agreement) and, if the assignor Bank is not retaining any interest in this Agreement such assignor Bank shall
promptly cancel and return its Notes to the Agent for return to the Company. Immediately upon each Assignee’s
making its processing fee payment under the Assignment and Acceptance, this Agreement shall be deemed to be amended to
the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of
the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the
assigning Bank protanto. 

	  	
                      
(d)    Any Bank may, with the written consent of the Company at all times other than during the
existence of an Event of Default, which consent shall not be unreasonably withheld, at any time sell to one or more
Eligible Assignees (a “Participant”) participating interests in any Outstanding Credit Exposure of such
Bank, the Commitment of that Bank and the other interests of that Bank (the “originating Bank”)
hereunder and under the other Loan Documents; provided, however, that (i) the originating Bank’s obligations
under this Agreement shall remain unchanged, (ii) the originating Bank shall remain solely responsible for the
performance of such obligations, (iii) the Company and the Agent shall continue to deal solely and directly with
the originating Bank in connection with the originating Bank’s rights and obligations under this Agreement and the
other Loan Documents, (iv) no Bank shall transfer or grant any participating interest under which the Participant
has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan
Document, except to the extent such amendment, consent or waiver would require unanimous consent of the Banks as
described in the first proviso to Section 10.01 and (v) with respect to the sale of participating interests in any
Bid Loan to any Participant, (x) the Company’s consent shall not be required and 

66. 

	  	(y) the Participant need not be an Eligible Assignee. In
the case of any such participation, the Participant shall not have any rights under this Agreement, or any of the other
Loan Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such
participation. 

	  	
                      
(e)    Each Bank agrees to take normal and reasonable precautions and exercise due care to maintain
the confidentiality of all information identified as “confidential” or “secret” by the Company and
provided to it by the Company or any Subsidiary, or by the Agent on such Company’s or Subsidiary’s behalf,
under this Agreement or any other Loan Document, and neither it nor any of its Affiliates shall disseminate such
information except on a “need to know” basis to employees of such Bank or Affiliate, as the case may be, and
their respective representatives or use any such information other than in connection with or in enforcement of this
Agreement and the other Loan Documents; except to the extent such information (i) was or becomes generally
available to the public other than as a result of disclosure by the Bank, or (ii) was or becomes available on a
non-confidential basis from a source other than the Company, provided that such source is not bound by a confidentiality
agreement with the Company known to the Bank; provided, however, that any Bank may disclose such
information (A) at the request or pursuant to any requirement of any Governmental Authority to which the Bank is subject
or in connection with an examination of such Bank by any such authority; (B) pursuant to subpoena or other court process
(provided that such Bank shall promptly notify the Company of any such subpoena or process, unless it is legally
prohibited from doing so, and cooperate with the Company at the Company’s expense in obtaining a suitable order
protecting the confidentiality of such information); (C) when required to do so in accordance with the provisions of any
applicable Requirement of Law; (D) to the extent reasonably required in connection with any litigation or proceeding to
which the Agent, any Bank or their respective Affiliates may be party provided that such Bank will promptly
notify the Company of any such disclosure and use reasonable efforts at the Company’s expense to obtain a suitable
order protecting the confidentiality of such information; (E) to the extent reasonably required in connection with the
exercise of any remedy hereunder or under any other Loan Document; (F) to such Bank’s independent auditors and
other professional advisors; and (G) to any Affiliate of such Bank, or to any Participant or Assignee, actual or
(provided that there exists no Event of Default, with the written consent of the Company, ) potential, provided that
such Affiliate, Participant or Assignee agrees in writing to keep such information confidential to the same extent
required of the Banks hereunder. Notwithstanding anything to the contrary set forth herein or in any other agreement to
which the parties hereto are parties or by which they are bound, the obligations of confidentiality contained herein and
therein (the “Confidentiality Obligations”), as they relate to the transactions contemplated by this
Agreement, shall not apply to the “tax structure” or “tax treatment” of the transactions
contemplated by this Agreement (as these terms are used in Section 1.6011-4(b)(3) (or any successor provision) of the
Treasury Regulations (the “Confidentiality Regulation”) promulgated under Section 6011 of the Internal Revenue
Code of 1986, as amended); and each party hereto (and any employee, representative, or agent of any party hereto) may
disclose to any and all persons, without limitation of any kind, the “tax structure” and “tax
treatment” of the transactions contemplated by this Agreement (as these terms are defined in the Confidentiality
Regulation). In addition, each party hereto acknowledges that it has no proprietary or exclusive rights to any tax
matter or tax idea related to the transactions contemplated by this Agreement. 

67. 

	  	
                      
(f)    Notwithstanding any other provision in this Agreement, without consent of the Company, any
Bank may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in
this Agreement and any Note held by it (i) in favor of any Federal Reserve Bank in accordance with Regulation A of the
FRB or U.S. Treasury Regulation 31 CFR §203.14, and such Federal Reserve Bank may enforce such pledge or security
interest in any manner permitted under applicable law, and (ii) to any direct or indirect counterparties in credit
derivative transactions relating to the Loans for the purpose of the physical settlement of such transaction. If
requested by any such Bank for purposes of this subsection 10.08(f), the Company shall execute and deliver Notes to
such Bank. 

	  	        10.09    Set-off.   In
addition to any rights and remedies of the Banks provided by law, if an Event of Default exists, each Bank is authorized
at any time and from time to time, without prior notice to the Company, any such notice being waived by the Company to
the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held by, and other indebtedness at any time owing by, such Bank to or for the credit
or the account of the Company against any and all Obligations owing to such Bank, now or hereafter existing,
irrespective of whether or not the Agent or such Bank shall have made demand under this Agreement or any Loan Document
and although such Obligations may be contingent or unmatured. In the event of any inconsistency between this section and
any agreement governing deposits maintained by the Company with any Bank, this Section shall control with respect
to set-offs affecting this Agreement. Each Bank agrees promptly to notify the Company and the Agent after any such
set-off and application made by such Bank; provided, however, that the failure to give such notice shall
not affect the validity of such set-off and application. 

	  	        10.10    Notification
of Addresses, Lending Offices, Etc.   Each Bank and each LC Issuer shall notify the Agent in writing
of any changes in the address to which notices to the Bank should be directed, of addresses of any Lending Office, of
payment instructions in respect of all payments to be made to it hereunder and of such other administrative information
as the Agent shall reasonably request. 

	  	        10.11    Counterparts.   This
Agreement may be executed in any number of separate counterparts, each of which, when so executed, shall be deemed an
original, and all of said counterparts taken together shall be deemed to constitute but one and the same instrument.

	  	        10.12    Severability.   The
illegality or unenforceability of any provision of this Agreement or any instrument or agreement required hereunder
shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Agreement or
any instrument or agreement required hereunder. 

	  	        10.13    No
Third Parties Benefited.   This Agreement is made and entered into for the sole protection and legal
benefit of the Company, the Banks, the LC Issuers, the Agent and the Agent-Related Persons, and their permitted
successors and assigns, and no other Person shall be a direct or indirect legal beneficiary of, or have any direct or
indirect cause of action or claim in connection with, this Agreement or any of the other Loan Documents. 

68. 

	  	        10.14    Governing
Law and Jurisdiction. 

	  	
                      
(a)    THIS AGREEMENT (AND THE NOTES) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAW OF THE STATE OF NEW YORK; PROVIDED THAT THE AGENT, THE BANKS AND THE LC ISSUERS SHALL RETAIN ALL RIGHTS ARISING
UNDER FEDERAL LAW. 

	  	
                      
(b)    ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY
BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK AND BY
EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE COMPANY, THE AGENT, THE BANKS AND THE LC ISSUERS CONSENTS, FOR
ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH OF THE COMPANY, THE
AGENT, THE BANKS AND THE LC ISSUERS IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR
BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR
PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR ANY DOCUMENT RELATED HERETO. 

	  	        10.15    Waiver
of Jury Trial.   THE COMPANY, THE BANKS, THE LC ISSUERS AND THE AGENT EACH WAIVE THEIR RESPECTIVE
RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT, THE
OTHER LOAN DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION
OF ANY TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR ANY AGENT-RELATED PERSON, PARTICIPANT OR ASSIGNEE,
WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. THE COMPANY, THE BANKS AND THE AGENT EACH AGREE THAT
ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE
PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY
ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY
OF THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS OR ANY PROVISION HEREOF OR THEREOF. THIS WAIVER SHALL APPLY TO ANY
SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS. 

	  	        10.16    
Entire Agreement.   This Agreement, together with the other Loan Documents, embodies the entire
agreement and understanding among the Company, the Banks, the LC Issuers and the Agent, and supersedes all prior or
contemporaneous agreements and understandings of such Persons, verbal or written, relating to the subject matter hereof
and thereof. Each Loan Document was drafted with the joint participation of the respective parties thereto and shall be
construed neither against nor in favor of any party, but rather in accordance with the fair meaning thereof. 

69. 

	  	        10.17    USA
PATRIOT ACT NOTIFICATION.   The following notification is provided to the Company pursuant to Section
326 of the USA PATRIOT Act of 2001, 31 U.S.C. Section 5318: 

	  	        IMPORTANT
INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government fight the funding of terrorism and money
laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that
identifies each person or entity that opens an account, including any deposit account, treasury management account,
loan, other extension of credit, or other financial services product. What this means for the Company: When Company
opens an account, the Agent, the LC Issuers and the Banks will ask for Company’s name, tax identification number,
business address, and other information that will allow the Agent, the LC Issuers and the Banks to identify the Company.

70. 

        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. 

	 	 	 	 	 	 
	 	 	DELUXE CORPORATION 
	

   		

By: 	 	

/s/   Raj Agrawal 	 
	 	

	   		Name:  	 	Raj Agrawal 	 
	   		Title:  	 	Vice President and Treasurer 	 
	

   		

Federal Employer Identification Number:
	
   		
41-0216880 
	 	

SIGNATURE PAGE TO 5-YEAR REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	 	 	 	 
	 	 	BANK ONE, NA (MAIN OFFICE CHICAGO),
individually and as Agent 
	

   		

By: 	 	

/s/   Ronald Edwards	
	 	

	   		Name:  	 	Ronald Edwards 	 
	   		Title:   	 	Director/Senior Underwriter 	 

SIGNATURE PAGE TO 5-YEAR REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	 	 	 	 
	 	 	CREDIT SUISSE FIRST BOSTON, ACTING 
THROUGH ITS CAYMAN ISLANDS BRANCH, 
individually and as Syndication Agent 
	

   		

By: 	 	

/s/   Jay Chall 	
	 	

	   		Name:  	 	Jay Chall 	 
	   		Title:   	 	Director 	 
	

   		

By: 	 	

/s/   Rianka Mohan 	
	 	

	   		Name:  	 	Rianka Mohan 	 
	   		Title:   	 	Associate 	 

SIGNATURE PAGE TO 5-YEAR REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK, individually and as Co-Documentation Agent 
	

   		

By: 	 	

/s/   John-Paul Marotta 	
	 	

	   		Name:  	 	John-Paul Marotta 	 
	   		Title:   	 	Vice President 	 

  

	 	 	 	 	 	 
	 	 	THE BANK OF TOKYO-MITSUBISHI, LTD., 
CHICAGO BRANCH, individually and as 
Co-Documentation Agent 
	

   		

By: 	 	

/s/   Patrick McCue 	
	 	

	   		Name:  	 	Patrick McCue 	 
	   		Title:   	 	Vice President and Manager 	 

  

	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION, 
individually and as Co-Documentation Agent  
	

   		

By: 	 	

/s/   Kirsten Carver 	
	 	

	   		Name:  	 	Kirsten Carver 	 
	   		Title:   	 	Associate 	 

  

	 	 	 	 	 	 
	 	 	THE NORTHERN TRUST COMPANY  
	

   		

By: 	 	

/s/   David C. Fisher 	
	 	

	   		Name:  	 	David C. Fisher 	 
	   		Title:   	 	Vice President 	 

  

	 	 	 	 	 	 
	 	 	NATIONAL CITY BANK 
	

   		

By: 	 	

/s/   Laura J. Rowley 	
	 	

	   		Name:  	 	Laura J. Rowley 	 
	   		Title:   	 	Vice President 	 

  

	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION 
	

   		

By: 	 	

/s/   Mark H. Halldorson 	
	 	

	   		Name:  	 	Mark H. Halldorson 	 
	   		Title:   	 	Vice President 	 
	

   		

By: 	 	

/s/   Jennifer D. Barrett 	
	 	

	   		Name:  	 	Jennifer D. Barrett 	 
	   		Title:   	 	 Vice President & Loan Team Manager 	 

  

	 	 	BNP PARIBAS 
	

   		

By: 	 	

/s/   Peter C. Labrie 	
	 	

	   		Name:  	 	Peter C. Labrie 	 
	   		Title:   	 	Central Region Manager 	 
	

   		

By: 	 	

/s/   Christine L. Howard 	
	 	

	   		Name:  	 	Christine L. Howard 	 
	   		Title:   	 	 Director 	 

  

	 	 	FIFTH THIRD BANK 
	

   		

By: 	 	

/s/   David C. Melin 	
	 	

	   		Name:  	 	David C. Melin 	 
	   		Title:   	 	Vice President 	 

  

	 	 	U.S. BANK NATIONAL ASSOCIATION  
	

   		

By: 	 	

/s/   Christopher W. Rupp 	
	 	

	   		Name:  	 	Christopher W. Rupp 	 
	   		Title:   	 	Assistant Vice President 	 

  

ANNEX I  

PRICING GRID  

	

	5-Year Revolving Credit

Pricing Grid
	

	Status	Level I	Level II	Level III	Level IV	Level V
	

	Applicable Facility Fee Rate	 	 	 	0.090	%	 	0.100	%	 	0.125	%	 	0.175	%	 	0.225	%
	

	Applicable Utilization Fee Rate	 	 	 	0.100	%	 	0.100	%	 	0.125	%	 	0.150	%	 	0.250	%
	

	LIBO Rate Applicable Margin	 	 	 	0.210	%	 	0.300	%	 	0.375	%	 	0.425	%	 	0.525	%
	

	Base Rate Applicable Margin	 	 	 	0.000	%	 	0.000	%	 	0.000	%	 	0.000	%	 	0.000	%
	

	Commercial LC Fee Rate	 	 	 	0.150	%	 	0.200	%	 	0.250	%	 	0.300	%	 	0.375	%
	

	Standby LC Fee Rate	 	 	 	0.300	%	 	0.400	%	 	0.500	%	 	0.600	%	 	0.750	%
	

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

        “Level I Status” exists at any date if,
 on such date, the Company’s Moody’s Rating is A2 or better or the Company’s S&P Rating is
 A or better. 

        “Level II Status” exists at any date if,
 on such date, (i) the Company has not qualified for Level I Status and (ii) the Company’s Moody’s Rating
 is A3 or better or the Company’s S&P Rating is A- or better. 

        “Level III Status” exists at any date if,
 on such date, (i) the Company has not qualified for Level I Status or Level II Status and (ii) the Company’s
 Moody’s Rating is Baa1 or better or the Company’s S&P Rating is BBB+ or better. 

        “Level IV Status” exists at any date if,
 on such date, (i) the Company has not qualified for Level I Status, Level II Status or Level III Status
 and (ii) the Company’s Moody’s Rating is Baa2 or better or the Company’s S&P Rating is BBB
 or better. 

        “Level V Status” exists at any date if,
 on such date, the Company has not qualified for Level I Status, Level II Status, Level III Status or
 Level IV Status. 

        “Moody’s Rating” means, at any time, the
 rating issued by Moody’s Investors Service, Inc. and then in effect with respect to the Company’s senior
 unsecured long-term debt securities without third-party credit enhancement. 

ANNEX I 

        “Rating” means Moody’s Rating or S&P
 Rating. 

        “S&P Rating” means, at any time, the
 rating issued by Standard and Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc.,
 and then in effect with respect to the Company’s senior unsecured long-term debt securities without
 third-party credit enhancement. 

        “Status” means Level I Status, Level II
 Status, Level III Status, Level IV Status or Level V Status. 

        The Applicable Margins, the Applicable Facility
 Fee Rate, the Applicable Utilization Fee Rate, the applicable Commercial LC Fee Rate and the applicable
 Standby LC Fee Rate shall be determined in accordance with the foregoing table based on the Company’s
 Status as determined from its then-current Moody’s or S&P Rating. If the Company is split-rated
 and the ratings differential is two levels or more, the intermediate rating at the midpoint will apply.
 If there is no midpoint, the higher of the two intermediate ratings will apply. The credit rating in
 effect on any date for the purposes of this Schedule is that in effect at the close of business on such
 date. Unless Moody’s or S&P, as applicable, shall cease generally to issue public ratings with respect
 to senior unsecured long-term debt securities without third-party credit enhancement (in which event
 the Applicable Margins, the Applicable Facility Fee Rate, the Applicable Utilization Fee Rate, the applicable
 Commercial LC Fee Rate and the applicable Standby LC Fee Rate shall be determined in accordance with
 the foregoing table based on the Company’s Status as determined from its then-current and available
 Moody’s or S&P Rating, as applicable), if the Company does not have both a Moody’s Rating and an
 S&P Rating, Level V Status shall apply. 

ANNEX I 

SCHEDULE 2.01 

LIST OF COMMITMENTS AND PRO RATA SHARES 

	

	BANK	COMMITMENT	PRO RATA SHARE
	

	BANK ONE, NA	 	 	$	  27,346,154	 	 	12.154	%
	

	CREDIT SUISSE FIRST BOSTON	 	 	$	  27,346,154	 	 	12.154	%
	

	THE BANK OF NEW YORK	 	 	$	  25,615,385	 	 	11.385	%
	

	THE BANK OF TOKYO-MITSUBISHI, LTD	 	 	$	  25,615,385	 	 	11.385	%
	

	WACHOVIA BANK, NATIONAL ASSOCIATION	 	 	$	  25,615,385	 	 	11.385	%
	

	THE NORTHERN TRUST COMPANY	 	 	$	  15,923,077	 	 	7.077	%
	

	NATIONAL CITY BANK	 	 	$	  15,923,077	 	 	7.077	%
	

	WELLS FARGO BANK, NATIONAL ASSOCIATION	 	 	$	  15,923,077	 	 	7.077	%
	

	BNP PARIBAS	 	 	$	  15,923,077	 	 	7.077	%
	

	FIFTH THIRD BANK	 	 	$	  15,923,077	 	 	7.077	%
	

	U.S. BANK, NATIONAL ASSOCIATION	 	 	$	  13,846,154	 	 	6.152	%
	

	TOTAL 	 	 	$	 225,000,000	 	 	100	%
	

SCHEDULES 

SCHEDULE 5.05 

LITIGATION 

None. 

SCHEDULES 

SCHEDULE 5.07 

ERISA MATTERS 

None. 

SCHEDULES 

SCHEDULE 5.12 

ENVIRONMENTAL MATTERS 

None. 

SCHEDULES 

SCHEDULE 5.16 

LIST OF SUBSIDIARIES AND MATERIAL EQUITY INVESTMENTS 

	(a)  	  	Subsidiaries  

	Deluxe Financial Services, Inc.	(MN — 100%) 
	Designer Checks, Inc.	(AL — 100%) 
	Direct Checks Unlimited, LLC	(CO — 100%) 
	DLX Check Printers, Inc.	(MN — 100%) 
	DLX Check Texas, Inc.	(MN — 100%) 
	         Deluxe Financial Services Texas L.P.
	Paper Payment Services LLC	(MN — 100%) 
	Plaid Moon, Inc.	(MN — 100%) 
	PPS Holding Company, Inc.	(MN — 100%) 
	PPS Services 1, Inc.	(MN — 100%) 
	PPS Services 2, Inc.	(MN — 100%) 
	Accounting Forms Co., Inc.	(MA — 100%) 
	Chiswick, Inc.	(MA — 100%) 
	Mass Distribution, Inc.	(DE — 100%) 
	McBee Systems, Inc.	(CO — 100%) 
	New England Business Service, Inc.  	(DE — 100%) 
	NEBS Interactive, Inc.	(MA — 100%) 
	         NEBS Capital
	PremiumWear, Inc.	(DE — 100%) 
	Rapidforms, Inc.	(NJ — 100%) 
	Russell and Miller, Inc.	(DE — 100%) 
	Safeguard Business Systems, Inc.	(DE — 100%) 
	Stephen Fossler Company	(DE — 100%) 
	Veripack, Inc.	(DE — 100%) 
	NEBS Business Stationery Limited	(UK — 100%) 
	Shirlite Limited	(UK — 100%) 
	Sigma Afterprint Services Limited	(UK — 100%) 
	Standard Forms Limited	(UK — 100%) 
	Standard Forms Holdings Limited	(UK — 100%) 
	NEBS Business Products Limited	(ON — 100%) 
	NEBS Payroll Service Limited	(ON — 100%) 
	Safeguard Business Systems Limited  (ON — 100%)

	(b)  	  	Material
Equity Investments  

	Deluxe Mexicana S.A. de C.V.	(Mexico — 50%) 

SCHEDULES 

SCHEDULE 7.01 

EXISTING LIENS 

None. 

SCHEDULES 

SCHEDULE 10.02 

OFFSHORE AND DOMESTIC LENDING OFFICES, ADDRESSES FOR NOTICES 

DELUXE CORPORATION 

Address for Notices 

3680 Victoria Street North
Shoreview, MN 55126 

Attention: Raj Agrawal, Vice President and Treasurer
Telephone: (651) 787-1068 

Facsimile: (651) 787-1566 

With a copy to: 

3680 Victoria Street North

Shoreview, MN 55126 

Attention: Anthony C. Scarfone, General Counsel
Telephone: (651) 483-7122

Facsimile: (651) 787-2749 

BANK ONE, NA as Agent 

Notices for Borrowing, Conversions/Continuations, and Payments 

Bank One, NA
One Bank One Plaza
Chicago, IL 60670

Attention: Erica Lowe

Telephone : (312) 732-6137

Facsimile: (312) 732-4303 

Address for Notices other than Borrowing: 

Bank One, NA 
111 E. Wisconsin Ave. 
Milwaukee, WI 53202 
Attention: Anthony Maggiore

Telephone: (414) 765-3111 
Facsimile: (414) 765-2625 

SCHEDULES 

EXHIBIT A 

FORM OF TRANSMITTAL LETTER/COMPLIANCE CERTIFICATE 

DELUXE CORPORATION 

Financial Statements Date: ______________ 

        Reference is made to that certain 5-Year
 Revolving Credit Agreement dated as of July 22, 2004 (as extended, renewed, amended or restated from
 time to time, the “Credit Agreement”), among Deluxe Corporation (the “Company”), the several
 financial institutions from time to time party thereto (the “Banks”) and Bank One, NA, as Agent
 (in such capacity, the “Agent”) and as an LC Issuer. Unless otherwise defined herein, capitalized
 terms used herein have the respective meanings assigned to them in the Credit Agreement. 

[Use the following if this Transmittal Letter/Certificate is delivered in connection
 with the financial statements required by subsection 6.01(a) of the Credit Agreement.] 

Transmittal Letter 

        Pursuant to subsection 6.01(a) of the Credit
 Agreement, attached hereto are true copies of the audited consolidated balance sheet of the Company
 and its consolidated Subsidiaries as at the end of the fiscal year ended _______________ and the related
 consolidated statements of income or operations, shareholders’ equity and cash flows for such year,
 setting forth in each case in comparative form the figures for the previous fiscal year, accompanied
 by the opinion of the Independent Auditor, which report states that such consolidated financial statements
 present fairly, in all material respects, the financial position for the periods indicated in conformity
 with GAAP. 

Certificate 

        The undersigned hereby certifies that he/she
 is a Responsible Officer as defined in the Credit Agreement and hereby certifies as of the date hereof
 on behalf of the Company and its consolidated Subsidiaries that: 

	1. 	
No Default or Event of Default has occurred and is continuing, except as described in Attachment
 1 hereto. 

	2. 	
The computations set forth below are true and correct as of _________________, ____, the
 last day of the accounting period for which the aforesaid financial statements were prepared. 

	3. 	
If the financial statements of the Company being concurrently delivered were not prepared
 in accordance with GAAP, Attachment 2 hereto sets forth any derivations required to conform the relevant
 data in such financial statements to the computations set forth below. 

A-1 

	4. 	
There have been no changes in accounting policies or financial reporting practices of the
 Company or any of its Subsidiaries since the date of the last compliance certificate delivered to you,
 except as described in Attachment 3 hereto. 

        IN WITNESS WHEREOF, the undersigned has
 executed this Certificate on behalf of the Company (and not personally) as the ____________ of the Company
 as of ______________, _______. 

DELUXE CORPORATION

By:   _______________________________________________ 
Title:  
   ______________________________________________  

 

[Use the following paragraph if this Certificate is delivered in connection with the
 financial statements required by subsection 6.01(b) of the Credit Agreement.] 

Certificate 

        _________The undersigned hereby certifies
 that he/she is a Responsible Officer as defined in the Credit Agreement and hereby certifies as of the
 date hereof on behalf of the Company and its Consolidated Subsidiaries, and that: 

	1. 	
Pursuant to Section 6.01(b) of the Credit Agreement, attached hereto are true copies of
 the unaudited consolidated balance sheet of the Company and its consolidated Subsidiaries as of the
 end of the fiscal quarter ended _________ and the related consolidated statements of income and cash
 flows for the period commencing on the first day and ending on the last day of such quarter, which fairly
 present in all material respects and in accordance with GAAP (subject to ordinary, good faith year-end
 audit adjustments), the financial position and the results of operations of the Company and its consolidated
 Subsidiaries. 

	2. 	
No Default or Event of Default has occurred and is continuing, except as described in Attachment
 1 hereto. 

	3. 	
The computations set forth below are true and correct as of _________________, ____, the
 last day of the accounting period for which the aforesaid financial statements were prepared. 

	4. 	
If the financial statements of the Company being concurrently delivered were not prepared
 in accordance with GAAP, Attachment 2 hereto sets forth any derivations required to conform the relevant
 data in such financial statements to the computations set forth below. 

	5. 	
There have been no changes in accounting policies or financial reporting practices of the
 Company or any of its Subsidiaries since the date of the last compliance certificate delivered to you,
 except as described in Attachment 3 hereto. 

A-2 

        IN WITNESS WHEREOF, the undersigned has
 executed this Certificate on behalf of the Company (and not personally) as the ____________ of the Company
 as of ______________, _______. 

DELUXE CORPORATION

By:   _______________________________________________ 
Title:  
   ______________________________________________  

 

A-3  

SCHEDULE 1

to the Compliance Certificate

Dated _______________ / For the fiscal quarter ended ___________.

	 	 	 	Actual

	Required/Permitted

	I.  Section 7.10 – Interest Coverage

	 	 	 
	 	Ratio of Earnings Before Interest and Taxes to Interest Expense under Section 7.10

	 	            to 1.00

	
Not less than 3.00 to 1.00 (measured as of the last day of any fiscal quarter)

	II.  Section 7.11 – Subsidiary Indebtedness

	 	 	 
	 	Aggregate Indebtedness of Company’s consolidated Subsidiaries

	 	___________	

Not greater than $50,000,000 
(measured as of the last day of 
any fiscal quarter)

1 

EXHIBIT B 

FORM OF NOTICE OF BORROWING 

Date: ______________ 

	To:  	  	Bank
One, NA
as Agent

Ladies and Gentlemen: 

        The undersigned, Deluxe Corporation (the
 “Company”), refers to the 5-Year Revolving Credit Agreement, dated as of July 22, 2004 (as extended,
 renewed, amended or restated from time to time, the “Credit Agreement”), among the Company, the
 several financial institutions from time to time party thereto (the “Banks”) and Bank One, NA,
 as Agent (the “Agent”) and as an LC Issuer, the terms defined therein being used herein as therein
 defined, and hereby gives you notice irrevocably, pursuant to Section 2.03 of the Credit Agreement,
 of the Committed Borrowing specified below: 

	1. 	
The Business Day of the proposed Committed Borrowing is _______________. 

	2. 	
The aggregate amount of the proposed Committed Borrowing is $_____________________. 

	3. 	
The Committed Borrowing is to be comprised of $___________ of [Offshore Rate] [Base Rate]
 Committed Loans. 

	4. 	
[If applicable:] The duration of the Interest Period for the Offshore Rate Committed Loans
 included in the Committed Borrowing shall be _____ months. 

	5. 	
As of the date hereof, the current senior credit rating established or deemed established
 for the Company by Moody’s and S&P is _________ for Moody’s and _________ for S&P. 

        The undersigned hereby certifies that the
 following statements are true on the date hereof, and will be true on the date of the proposed Committed
 Borrowing, before and after giving effect thereto and to the application of the proceeds therefrom:
 

	1. 	
the representations and warranties of the Company contained in Article V of the Credit Agreement
 (excluding those contained in Section 5.11(b) of the Credit Agreement) are true and correct as though
 made on and as of such date, except to the extent such representations and warranties expressly refer
 to an earlier date, in which case they are true and correct as of such date; 

	2. 	
no Default or Event of Default has occurred and is continuing, or would result from such
 proposed Committed Borrowing; 

B-1. 

	3. 	  	after giving effect to the proposed Committed Borrowing the Aggregate Outstanding Credit Exposure does not exceed the aggregate Commitments under the Credit Agreement. 

DELUXE CORPORATION 

By: ____________________ 
Title:  ____________________ 

 

B-2. 

EXHIBIT C 

FORM OF NOTICE OF CONVERSION/CONTINUATION 

Date: _______________ 

	To:  	  	Bank
One, NA
as Agent 

Ladies and Gentlemen: 

        The undersigned, Deluxe Corporation (the
 “Company”), refers to the 5-Year Revolving Credit Agreement, dated as of July 22, 2004 (as extended,
 renewed, amended or restated from time to time, the “Credit Agreement”), among the Company, the
 several financial institutions from time to time party thereto (the “Banks”) and Bank One, NA,
 as Agent (the “Agent”) and as an LC Issuer, the terms defined therein being used herein as therein
 defined, and hereby gives you notice irrevocably, pursuant to Section 2.04 of the Credit Agreement,
 of the [conversion] [continuation] of Committed Loans specified below: 

	1. 	
The Conversion/Continuation Date is ______________. 

	2. 	
The aggregate amount of the Committed Loans to be [converted] [continued] is $_______________.
 

	3. 	
The Committed Loans are to be [converted into] [continued as] [Offshore Rate] [Base Rate]
 Committed Loans. 

	4. 	
[If applicable:] The duration of the Interest Period for the Committed Loans included in
 the [conversion] [continuation] shall be ____ months. 

	5. 	
As of the date hereof, the current senior credit rating established or deemed established
 for the Company by Moody’s and S&P is _________ for Moody’s and _________ for S&P. 

        The undersigned hereby certifies that the
 following statements will be true on and as of the proposed Conversion/Continuation Date, before and
 after giving effect thereto and to the application of the proceeds therefrom: 

	1. 	
the representations and warranties of the Company contained in Article V of the Credit Agreement
 are true and correct as though made on and as of such date (except to the extent such representations
 and warranties relate to an earlier date, in which case they are true and correct as of such date; 

	2. 	
no Default or Event of Default exists or shall result from such proposed [conversion] [continuation];
 

	3. 	
after giving effect to the proposed [conversion][continuation], the Aggregate Outstanding
 Credit Exposure does not exceed the aggregate Commitments under the Credit Agreement. 

C-1. 

DELUXE CORPORATION 

By: ____________________ 
Title:  ____________________ 

 

C-2. 

EXHIBIT D 

FORM OF INVITATION FOR COMPETITIVE BIDS 

Via Facsimile  

Date: __________________ 

To the Banks Listed on Annex A Attached Hereto 

Ladies and Gentlemen: 

        Reference is made to that certain 5-Year
 Revolving Credit Agreement dated as of July 22, 2004 (as extended, renewed, amended or restated from
 time to time, the “Credit Agreement”), among Deluxe Corporation (the “Company”), the Banks
 party thereto and Bank One, NA, as Agent for the Banks (in such capacity, the “Agent”) and as
 an LC Issuer. Capitalized terms used herein have the meanings specified in the Credit Agreement. 

        Pursuant to subsection 2.06(b) of the Credit
 Agreement, you are hereby invited to submit offers to make Bid Loans to the Company based on the following
 specifications: 

    1.        Date of Bid Borrowing: _______________; 

    2.        Aggregate amount of
 Bid Borrowing: $___________________; 

    3.        The Bid Loans shall
 be: [LIBOR Bid Loans] [Absolute Rate Bid Loans]; and 

    4.        Interest Period[s]
 and requested Interest Payment Dates, if any: [____________________], [________________] and [________________].
 

        All Competitive Bids shall be in the form
 of Exhibit F to the Credit Agreement and shall be received by the Agent no later than 10:00
 a.m. (Chicago time) on ___________, _____; provided that terms of the offer or offers contained
 in any Competitive Bid(s) to be submitted by the Agent (or any Affiliate of the Agent) shall be notified
 to the Company not later than 10:00 a.m. (Chicago time) on _____________.1 

BANK ONE, NA, as Agent 

By: ______________________________ 
Title: ______________________________ 

 

	1 	  	 Insert
a date which is three Business Days prior to the date of Borrowing,  in the case of a
LIBOR Auction, or on the date of Borrowing, in the case of an Absolute Rate Auction.  

D-1 

ANNEX A 

to the Invitation for Competitive Bids 

List of Bid Loan Lenders 

[Bank One, NA, as a Bank] 

Facsimile: (415) 622-____ 

[Bank] 

Facsimile: (___) ___-____

[Bank] 

Facsimile: (___) ___-____

[Bank] 

Facsimile: (___) ___-____

[Bank] 

Facsimile: (___) ___-____

EXHIBIT E 

FORM OF COMPETITIVE BID REQUEST 

Date: _______________ 

	To:  	  	Bank
One, NA
as Agent 

Ladies and Gentlemen: 

        Reference is made to the 5-Year Revolving
 Credit Agreement dated as of July 22, 2004 (as extended, renewed, amended or restated from time to time,
 the “Credit Agreement”), among Deluxe Corporation (the “Company”), the Banks party thereto, and
 Bank One, NA, as Agent and as an LC Issuer. Capitalized terms used herein have the meanings specified
 in the Credit Agreement. 

        This is a Competitive Bid Request for Bid
 Loans pursuant to Section 2.06(a) of the Credit Agreement as follows: 

The Business Day of the proposed Bid Borrowing is: ______________.

The aggregate amount
 of the proposed Bid Borrowing is: $___________________.

The proposed Bid Borrowing to be made pursuant to Section 2.06 shall be comprised of [LIBOR]
 [Absolute Rate] Bid Loans. 
The Interest Period[s] and Interest Payment Dates, if any, for the Bid Loans
 comprised in the Bid Borrowing shall be: _______________, [_________________] and [___________________].
 

DELUXE CORPORATION

By:
______________________________ 
Title: _____________________________  

E-1. 

EXHIBIT F 

FORM OF COMPETITIVE BID 

Date: _______________ 

	To:  	  	Bank
One, NA,
as Agent 

Ladies and Gentlemen: 

        Reference is made to the 5-Year Revolving
 Credit Agreement dated as of July 22, 2004 (as extended, renewed, amended or restated from time to time,
 the “Credit Agreement”), among Deluxe Corporation (the “Company”), the “Banks” party thereto,
 and Bank One, NA, as Agent and as an LC Issuer. Capitalized terms used herein have the meanings specified
 in the Credit Agreement. 

        In response to the Invitation for Competitive
 Bids dated ___________ and in accordance with subsection 2.06(c)(ii) of the Credit Agreement, the
 undersigned Bank offers to make [a] Bid Loan[s] thereunder in the following principal amounts[s], at
 the following interest rates and for the following Interest Period[s], with Interest Payment Dates as
 specified by the Company: 

Date of Bid Borrowing: _____________________ 

Aggregate Maximum Bid Amount: $________________ 

Offer 1 (Maximum Bid Amount:
$________________)      Interest Period: ________________  

	Principal Amount $_________	Principal Amount $_________	Principal Amount $_________
	Interest:	Interest:	Interest:
	[Absolute Rate __%]*	[Absolute Rate __%]*	[Absolute Rate __%]*
	or	or	or
	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*

_________________
* Interest rate may be quoted to five decimal places. 

F-1. 

Offer 2 (Maximum Bid Amount:
$________________)      Interest Period: ________________  

	Principal Amount $_________	Principal Amount $_________	Principal Amount $_________
	Interest:	Interest:	Interest:
	[Absolute Rate __%]*	[Absolute Rate __%]*	[Absolute Rate __%]*
	or	or	or
	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*

Offer 3 (Maximum Bid Amount:
$________________)      Interest Period: ________________  

	Principal Amount $_________	Principal Amount $_________	Principal Amount $_________
	Interest:	Interest:	Interest:
	[Absolute Rate __%]*	[Absolute Rate __%]*	[Absolute Rate __%]*
	or	or	or
	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*

[NAME OF BANK]

By:
______________________________ 
Title: _____________________________  

_________________
* Interest rate may be quoted to five decimal places. 

F-2. 

EXHIBIT G-1 

FORM OF COMMITTED LOAN NOTE 

[DATE] 

        FOR VALUE RECEIVED, the undersigned, Deluxe
Corporation, a Minnesota corporation (the “Company”), hereby promises to pay to the order of
______________________ (the “Bank”) at the offices of Bank One, NA, as Administrative Agent for
the Banks (the “Agent”) the aggregate unpaid principal amount of all Committed Loans made by the Bank
to the Company pursuant to the 5-Year Revolving Credit Agreement, dated as of July 22, 2004 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
the Company, the Bank, the other financial institutions from time to time party thereto (the “Banks”),
Bank One, NA, as Agent and as an LC Issuer, on the dates and in the amounts provided in the Credit Agreement.
The Company further promises to pay interest on the unpaid principal amount of the Committed Loans evidenced
hereby from time to time at the rates and on the dates as provided in the Credit Agreement.  

        As provided in the Credit Agreement, the
 Bank is authorized to endorse the amount of and the date on which each Committed Loan is made, the maturity
 date therefor and each payment of principal with respect thereto on the schedules annexed hereto and
 made a part hereof, or on continuations of such schedules which shall be attached hereto and made a
 part hereof; provided that any failure to endorse such information on such schedule or continuation
 thereof shall not in any manner affect any obligation of the Company under the Credit Agreement and
 this Promissory Note (this “Note”). 

        This Note is one of the Committed Loan Notes
 referred to in, and is entitled to the benefits of, the Credit Agreement, which Credit Agreement, among
 other things, contains provisions for acceleration of the maturity hereof upon the happening of certain
 stated events. 

        Terms defined in the Credit Agreement are
 used herein with their defined meanings therein unless otherwise defined herein. 

        This Note shall be governed by, and construed
 and interpreted in accordance with, the laws of the State of New York. 

DELUXE CORPORATION 

By:
______________________________ 
Title: _____________________________ 
          Address: 

          
3680 Victoria Street North 

          
Shoreview, Minnesota 55126-2966  

G-1. 

SCHEDULE 
to Committed Loan Note 
[Offshore Rate Committed Loans] 

	

	Date Loan 	  	  	  	Date Principal 
	Disbursed 	Amount of Loan 	Maturity Date 	Principal Payment 	Paid 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

G-2. 

SCHEDULE 
to Committed Loan Note 
[Base Rate Committed Loans] 

	

	Date Loan 	  	  	  	Date Principal 
	Disbursed 	Amount of Loan 	Maturity Date 	Principal Payment 	Paid 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

G-3. 

EXHIBIT G-2 

FORM OF BID LOAN NOTE 

[DATE] 

        FOR VALUE RECEIVED, the undersigned, Deluxe
 Corporation, a Minnesota corporation (the “Company”), hereby promises to pay to the order of
 ______________________ (the “Bank”) at the offices of Bank One, NA, as Administrative Agent for
 the Banks (the “Agent”) the aggregate unpaid principal amount of all Bid Loans made by the Bank
 to the Company pursuant to the 5-Year Revolving Credit Agreement, dated as of July 22, 2004 (as amended,
 restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
 the Company, the Bank, the other financial institutions from time to time party thereto (the “Banks”),
 Bank One, NA, as Agent and as an LC Issuer, on the dates and in the amounts provided in the Credit Agreement.
 The Company further promises to pay interest on the unpaid principal amount of the Bid Loans evidenced
 hereby from time to time at the rates and on the dates as provided in the Credit Agreement. 

        As provided in the Credit Agreement, the
 Bank is authorized to endorse the amount of and the date on which each Bid Loan is made, the maturity
 date therefor and each payment of principal with respect thereto on the schedules annexed hereto and
 made a part hereof, or on continuations of such schedules which shall be attached hereto and made a
 part hereof; provided that any failure to endorse such information on such schedule or continuation
 thereof shall not in any manner affect any obligation of the Company under the Credit Agreement and
 this Promissory Note (this “Note”). 

        This Note is one of the Bid Loan Notes referred
 to in, and is entitled to the benefits of, the Credit Agreement, which Credit Agreement, among other
 things, contains provisions for acceleration of the maturity hereof upon the happening of certain stated
 events. 

        Terms defined in the Credit Agreement are
 used herein with their defined meanings therein unless otherwise defined herein. 

        This Note shall be governed by, and construed
 and interpreted in accordance with, the laws of the State of New York. 

DELUXE CORPORATION 

By:
______________________________ 
Title: _____________________________ 
          Address: 

          
3680 Victoria Street North 

          
Shoreview, Minnesota 55126-2966  

G-1. 

SCHEDULE 
to Bid Loan Note 
[Absolute Rate Bid Loans] 

	

	Date Loan 	  	  	  	Date Principal 
	Disbursed 	Amount of Loan 	Maturity Date 	Principal Payment 	Paid 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

G-2. 

SCHEDULE 
to Bid Loan Note 
[LIBOR Bid Loans] 

	

	Date Loan 	  	  	  	Date Principal 
	Disbursed 	Amount of Loan 	Maturity Date 	Principal Payment 	Paid 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

G-3. 

EXHIBIT H 

FORM OF OPINION OF ANTHONY C. SCARFONE,
GENERAL COUNSEL TO THE COMPANY 

        Each of the following opinions will address,
 as applicable, matters related to Deluxe Corporation (the “Borrower”) and New England Business Service,
 Inc. (the “Initial Guarantor”, and together with the Borrower, the “Companies”): 

    1.        The Borrower and each
 of its Material Subsidiaries, is a corporation duly organized, validly existing and in good standing
 under the laws of the jurisdiction of its incorporation and is duly qualified to conduct business under
 the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of
 its business requires such qualification, except to the extent that failure to do so would not reasonably
 be expected to have a Material Adverse Effect (as defined in the Agreement). Each of the Companies has
 the requisite corporate power to execute, deliver and perform its obligations under the Loan Documents
 to which it is a party. 

    2.        The execution, delivery
 and performance by each of the Companies of the Loan Documents to which it is a party have been duly
 authorized by all requisite corporate action. The Loan Documents have been duly executed and delivered
 by each of the Companies parties thereto and constitute the valid and binding obligations of each Company
 party thereto, enforceable against each such Company in accordance with their respective terms. 

    3.        The execution and delivery
 by each of the Companies of the Loan Documents to which it is a party, and the performance by the Companies
 of their respective obligations thereunder do not and will not (a) violate any provision of law,
 statute, rule or regulation or any order, writ, judgment, injunction, decree, determination or award
 of any court, governmental agency or arbitrator presently in effect having applicability to the applicable
 Company, (b) violate or be in conflict with any provision of the Amended Articles of Incorporation
 or By-laws (as amended) of the applicable Company, (c) result in breach or constitute a default
 under any indenture, loan or credit agreement or any other material agreement, lease or instrument known
 to me to which such Company is a party or by which it or any of its properties may be bound or result
 in the creation of a Lien thereunder. 

    4.        No order, consent,
 approval, license, authorization or validation of, or filing, recording or registration with, or exemption
 by, any governmental or public body or authority is required on the part of any Company to authorize,
 or is required in connection with the due execution, delivery and performance of, or the legality, validity
 or binding effect or enforceability of, the Loan Documents. 

    5.        Except as disclosed
 on Schedule 5.05 of the Agreement, there are no actions, suits or proceedings pending or, to the best
 of my knowledge, overtly threatened against or affecting any Company or any of its respective properties
 before any court or arbitrator, or any governmental department, board, agency or other instrumentality
 which (i) challenge the legality, validity or enforceability of the Loan Documents, or (ii) would reasonably
 be expected to have a Material Adverse Effect. 

H-1 

    6.        Neither of the Companies
 is an “investment company” or a company “controlled” by an “investment company” within the meaning of
 the Investment Company Act of 1940, as amended. 

    7.        There is no litigation
 pending or, to the best of my knowledge, threatened, alleging that any slogan or other advertising device,
 product, process, method, substance, part or other material now employed by the Borrower or any Subsidiary
 infringes upon any rights of any other Person which would reasonably be expected to have a Material
 Adverse Effect. 

    8.        The making of the Loans
 contemplated by the Agreement, and the use of the proceeds thereof as provided in the Agreement, does
 not violate Regulations T, U or X of the FRB. 

H-2 

EXHIBIT I 

FORM OF ASSIGNMENT AND ACCEPTANCE AGREEMENT 

        This ASSIGNMENT AND ACCEPTANCE AGREEMENT
 (this “Assignment and Acceptance”) dated as of _____________ is made between __________________
 (the “Assignor”) and ________________ (the “Assignee”). 

RECITALS 

        WHEREAS, the Assignor is party to that certain
 5-Year Revolving Credit Agreement dated as of July 22, 2004 (as amended, restated, modified, supplemented
 or renewed from time to time, the “Credit Agreement”), among Deluxe Corporation (the “Company”),
 the several financial institutions from time to time party thereto (including the Assignor, the “Banks”)
 and Bank One, NA, as agent for the Banks (in such capacity, the “Agent”) and as an LC Issuer.
 Any terms defined in the Credit Agreement and not defined in this Assignment and Acceptance are used
 herein as defined in the Credit Agreement; 

        WHEREAS, as provided under the Credit Agreement,
 the Assignor has committed to making Committed Loans to the Company in an aggregate amount not to exceed
 $__________ (the “Commitment”); 

        [WHEREAS, as provided under the Credit Agreement,
 the Assignor has committed to issuing Facility LCs to the Company in an aggregate amount not to exceed
 $___________ (the “LC Commitment”); 

        WHEREAS, [the Assignor has made Committed
 Loans in the aggregate principal amount of $__________ to the Company consisting of $___________ principal
 amount of Committed Loans [no Committed Loans are outstanding under the Credit Agreement]; 

        [WHEREAS, [the Assignor has issued Facility
 LCs in the aggregate principal amount of $__________ to the Company consisting of $___________ principal
 amount of Facility LCs [no Facility LCs are outstanding under the Credit Agreement]; and 

        WHEREAS, the Assignor wishes to assign to
 the Assignee [part of the] [all] rights and obligations of the Assignor under the Credit Agreement in
 respect of its Commitment, [together with a corresponding portion of each of its outstanding Committed
 Loans], in an amount equal to ___% of the Assignor’s Commitment and Committed Loans, on the terms and
 subject to the conditions set forth herein, and the Assignee wishes to accept assignment of such rights
 and to assume such obligations from the Assignor on such terms and subject to such conditions; 

        NOW,
THEREFORE, in consideration of the  foregoing and the mutual agreements contained herein,
the parties hereto agree as follows:  

        1.       Assignment
and Acceptance.  

I-1 

                (a)        Subject
to the terms  and conditions of this Assignment and Acceptance, (i) the Assignor
hereby sells, transfers and  assigns to the Assignee, and (ii) the Assignee hereby
purchases, assumes and undertakes from the  Assignor, without recourse and without
representation or warranty (except as provided in this Assignment  and Acceptance) ___%
(the “Assignee’s Percentage Share”) of (A) the Commitment [and
the  Outstanding Credit Exposure] of the Assignor and (B) all related rights,
benefits, obligations,  liabilities and indemnities of the Assignor under and in
connection with the Credit Agreement and the  Loan Documents.  

                (b)        With
effect on and  after the Effective Date (as defined in Section 5 hereof), the
Assignee shall be a party to the  Credit Agreement and succeed to all of the rights and
be obligated to perform all of the obligations  of a Bank under the Credit Agreement,
including the requirements concerning confidentiality and the  payment of
indemnification, with a Commitment in the amount set forth in subsection (c) below.
 The Assignee agrees that it will perform in accordance with their terms all of the
obligations which  by the terms of the Credit Agreement are required to be performed by
it as a Bank. It is the intent  of the parties hereto that the Commitment of the Assignor
shall, as of the Effective Date, be reduced  by an amount equal to the portion thereof
assigned to the Assignee hereunder, and the Assignor shall  relinquish its rights and be
released from its obligations under the Credit Agreement to the extent  such obligations
have been assumed by the Assignee; provided, however, that the Assignor shall  not
relinquish its rights under Article III or Sections 10.04 and 10.05 of the Credit
Agreement  to the extent such rights relate to the time prior to the Effective Date.  

                (c)        After
giving effect  to the assignment and assumption set forth herein, on the Effective Date:
(i) the Assignee’s Commitment  will be $__________; and (ii) the principal
amount of the Assignee’s Outstanding Credit Exposure  will be $_______________.  

                (d)        After
giving effect  to the assignment and assumption set forth herein, on the Effective Date:
(i) the Assignor’s Commitment  will be $__________; and (ii) the principal
amount of the Assignor’s Outstanding Credit Exposure  will be $_______________.  

        2.       Payments.  

                (a)        As
consideration for  the sale, assignment and transfer contemplated in Section 1
hereof, the Assignee shall pay to the  Assignor on the Effective Date in immediately
available funds an amount equal to $__________, representing  the Assignee’s
Percentage Share of the principal amount of all Committed Loans previously made [, and
 Facility LCs issued] by the Assignor to the Company under the Credit Agreement and
outstanding on the  Effective Date.  

                (b)        The
[Assignor] [Assignee]  further agrees to pay to the Agent a processing fee in the amount
specified in Section 10.08(a) of the  Credit Agreement.  

        3.       Reallocation
of  Payments. Any interest, fees and other payments accrued prior to the Effective
Date with respect  to the Commitment, Committed Loans and Facility LCs, if any, of the
Assignor shall be for the account  of the Assignor. Any interest, fees and other payments
accrued on and after the Effective Date with  respect to the portion of such Commitment,
Committed Loans and Facility LCs assigned to the Assignee  shall be for the account of
the  

I-2 

Assignee. Each of the Assignor and
the Assignee agrees that it will  hold in trust for the other party any interest, fees
and other amounts which it may receive to which  the other party is entitled pursuant to
the preceding sentence and pay to the other party any such amounts  which it may receive
promptly upon receipt.  

        4.       Independent
Credit  Decision. The Assignee: (a) acknowledges that it has received a copy of
the Credit Agreement  and the Schedules and Exhibits thereto, together with copies of the
most recent financial statements  referred to in Section 5.11 or Section 6.01 of the
Credit Agreement, and such other documents and  information as it has deemed appropriate
to make its own credit and legal analysis and decision to enter  into this Assignment and
Acceptance; and (b) agrees that it will, independently and without reliance  upon
the Assignor, the Agent, the Arrangers, or any other Bank and based on such documents and
information  as it shall deem appropriate at the time, continue to make its own credit
and legal decisions in taking  or not taking action under the Credit Agreement.  

        5.       Effective
Date;  Notices.  

                (a)        As
between the Assignor  and the Assignee, the effective date for this Assignment and
Acceptance shall be ______________ (the  “Effective Date”); provided that
the following conditions precedent have been satisfied  on or before the Effective Date:  

		
    (i)        this Assignment and
 Acceptance shall be executed and delivered by the Assignor and the Assignee; 

		
    (ii)        any consent of the
 Company and the Agent required under Section 10.08(a) of the Credit Agreement for the effectiveness
 of the assignment hereunder by the Assignor to the Assignee shall have been duly obtained and shall
 be in full force and effect as of the Effective Date; 

		
    (iii)        the Assignee shall
 pay to the Assignor all amounts due to the Assignor under this Assignment and Acceptance; 

		
    (iv)        the processing fee
 referred to in Section 2(b) hereof and in Section 10.08(a) of the Credit Agreement shall have
 been paid to the Agent; and 

		
    (v)        the Assignor and Assignee
 shall have complied with the other requirements of Section 10.08 of the Credit Agreement and with
 the requirements of Sections 9.10 and 3.01 of the Credit Agreement (in each case to the extent
 applicable). 

                (b)        Promptly
following  the execution of this Assignment and Acceptance, the Assignor shall deliver to
the Company and the Agent  for acknowledgement by the Agent, a Notice of Assignment
substantially in the form attached hereto as Schedule 1.  

        6.       Agent.
The Assignee  hereby appoints and authorizes the Agent to take such action as agent on
its behalf and to exercise  such powers under the Credit Agreement as are delegated to
the Agent by the Banks pursuant to the terms  of the Credit Agreement. [The  

I-3 

Assignee shall assume no duties or
obligations held by the Assignor in  its capacity as Agent under the Credit Agreement.]
[INCLUDE ONLY IF ASSIGNOR IS AGENT] 

        7.       Withholding
Tax.  The Assignee agrees to comply with Sections 3.01 and 9.10 of the Credit
Agreement (if applicable).  

        8.
       Representations
 and Warranties.  

                (a)        The
Assignor represents  and warrants that (i) it is the legal and beneficial owner of
the interest being assigned by it  hereunder and that such interest is free and clear of
any Lien or other adverse claim; (ii) it  is duly organized and existing and it has
the full power and authority to take, and has taken, all action  necessary to execute and
deliver this Assignment and Acceptance and any other documents required or  permitted to
be executed or delivered by it in connection with this Assignment and Acceptance and to
 fulfill its obligations hereunder; (iii) no notices to, or consents, authorizations
or approvals  of, any Person are required (other than those referred to in Section 5(a)(ii) hereof
and any  already given or obtained) for its due execution, delivery and performance of
this Assignment and Acceptance,  and apart from any agreements or undertakings or filings
required by the Credit Agreement, no further  action by, or notice to, or filing with,
any Person is required of it for such execution, delivery or  performance; and (iv) this
Assignment and Acceptance has been duly executed and delivered by it  and constitutes the
legal, valid and binding obligation of the Assignor, enforceable against the Assignor  in
accordance with the terms hereof, subject, as to enforcement, to bankruptcy, insolvency,
moratorium,  reorganization and other laws of general application relating to or
affecting creditors’ rights and  to general equitable principles.  

                (b)        The
Assignor 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 the execution, legality, validity,  enforceability, genuineness,
sufficiency or value of the Credit Agreement or any other instrument or  document
furnished pursuant thereto. The Assignor makes no representation or warranty in
connection  with, and assumes no responsibility with respect to, the solvency, financial
condition or statements  of the Company, or the performance or observance by the Company,
of any of its respective obligations  under the Credit Agreement or any other instrument
or document furnished in connection therewith.  

                (c)        The
Assignee represents  and warrants that (i) it is duly organized and existing and it
has full power and authority to  take, and has taken, all action necessary to execute and
deliver this Assignment and Acceptance and  any other documents required or permitted to
be executed or delivered by it in connection with this  Assignment and Acceptance, and to
fulfill its obligations hereunder; (ii) no notices to, or consents,  authorizations
or approvals of, any Person are required (other than those referred to in Section 5(a)(ii) hereof
 and any already given or obtained) for its due execution, delivery and performance of
this Assignment  and Acceptance; and apart from any agreements or undertakings or filings
required by the Credit Agreement,  no further action by, or notice to, or filing with,
any Person is required of it for such execution,  delivery or performance; (iii) this
Assignment and Acceptance has been duly executed and delivered  by it and constitutes the
legal, valid and binding obligation of the Assignee, 

I-4 

enforceable against the  Assignee in
accordance with the terms hereof, subject, as to enforcement, to bankruptcy, insolvency,
 moratorium, reorganization and other laws of general application relating to or
affecting creditors’ rights and to general equitable principles; and (iv) it is
an Eligible Assignee.  

        9.
       Further Assurances.  

        The Assignor and the Assignee each hereby
 agrees to execute and deliver such other instruments, and take such other action, as either party may
 reasonably request in connection with the transactions contemplated by this Agreement, including the
 delivery of any notices or other documents to the Company or the Agent, which may be required in connection
 with the assignment and assumption contemplated hereby. 

        10.
       Miscellaneous. 

                (a)        Any
amendment or waiver  of any provision of this Assignment and Acceptance shall be in
writing and signed by the parties hereto.  No failure or delay by either party hereto in
exercising any right, power or privilege hereunder shall  operate as a waiver thereof and
any waiver of any breach of the provisions of this Assignment and Acceptance  shall be
without prejudice to any rights with respect to any other or further breach thereof.  

                (b)        All
payments made  hereunder shall be made without any set-off or counterclaim.  

                (c)        The
Assignor and the  Assignee shall each pay its own costs and expenses incurred in
connection with the negotiation, preparation,  execution and performance of this
Assignment and Acceptance.  

                (d)        This
Assignment and  Acceptance may be executed in any number of counterparts and all of such
counterparts taken together  shall be deemed to constitute one and the same instrument.  

                (e)        THIS
ASSIGNMENT AND  ACCEPTANCE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW
OF THE STATE OF NEW YORK. THE  ASSIGNOR AND THE ASSIGNEE EACH IRREVOCABLY SUBMITS TO THE
NON-EXCLUSIVE JURISDICTION OF ANY STATE OR  FEDERAL COURT SITTING IN NEW YORK OVER ANY
SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO  THIS ASSIGNMENT AND ACCEPTANCE
AND IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING  MAY BE
HEARD AND DETERMINED IN SUCH NEW YORK STATE OR FEDERAL COURT. EACH PARTY TO THIS
ASSIGNMENT AND  ACCEPTANCE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY
EFFECTIVELY DO SO, ANY OBJECTION,  INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR
BASED ON THE GROUNDS OF FORUM NON CONVENIENS,  WHICH IT MAY NOW OR HEREAFTER HAVE
TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION  IN RESPECT OF THIS
ASSIGNMENT AND ACCEPTANCE OR ANY DOCUMENT RELATED HERETO, 

I-5 

AND PERSONAL SERVICE OF  ANY
SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY
NEW YORK  LAW.  

                (f)        THE
ASSIGNOR AND THE  ASSIGNEE EACH HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES
ANY RIGHTS IT MAY HAVE TO A TRIAL  BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR
ARISING OUT OF, UNDER, OR IN CONNECTION WITH THIS  ASSIGNMENT AND ACCEPTANCE, AND ANY
RELATED DOCUMENTS AND AGREEMENTS, OR THE TRANSACTIONS CONTEMPLATED  HEREBY OR THEREBY, IN
ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY EITHER OF THE  PARTIES
AGAINST THE OTHER PARTY, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR
OTHERWISE.  EACH OF THE PARTIES ALSO AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL
BE TRIED BY A COURT TRIAL  WITHOUT A JURY. [Other provisions to be added as may be
negotiated between the Assignor and the  Assignee, provided that such provisions are not
inconsistent with the Credit Agreement.] 

        IN WITNESS WHEREOF, the Assignor and the
 Assignee have caused this Assignment and Acceptance to be executed and delivered by their duly authorized
 officers as of the date first above written. 

[ASSIGNOR] 

By: _________________________ 
Title: _________________________ 

[ASSIGNEE] 

By: _________________________ 
Title: _________________________ 

 

I-6 

SCHEDULE 1 
to the Assignment and Acceptance 

NOTICE OF ASSIGNMENT AND ACCEPTANCE 

Date: ___________________

Bank One, NA
as Agent 

_____________________________________

_____________________________________ 
_____________________________________ 

Attention: ________________ 

Deluxe Corporation 

_____________________________________

_____________________________________ 
_____________________________________ 

Attention: ________________ 

Ladies and Gentlemen: 

        We refer to the 5-Year Revolving Credit
 Agreement dated as of July 22, 2004 (as amended, restated, modified, supplemented or renewed from time
 to time, the “Credit Agreement”) among Deluxe Corporation (the “Company”), the Banks referred
 to therein and Bank One, NA, as Agent for the Banks (the “Agent”). Terms defined in the Credit
 Agreement are used herein as therein defined. 

    1.        We hereby give you
 notice of[, and request the consent of the Company and the Agent to, the assignment by ________________________
 (the “Assignor”) to ____________________ (the “Assignee”) of ____% of the right, title
 and interest of the Assignor in and to the Credit Agreement (including, without limitation, ____% of
 the right, title and interest of the Assignor in and to the Commitment of the Assignor and all outstanding
 Committed Loans made [, and Facility LCs issued,] by the Assignor) pursuant to that certain Assignment
 and Acceptance Agreement, dated as of ___________ (the “Assignment and Acceptance”) between Assignor
 and Assignee, a copy of which Assignment and Acceptance is attached hereto. Before giving effect to
 such assignment the Assignor’s Commitment is $___________ and the aggregate principal amount of its
 outstanding Committed Loans is $__________. 

    2.        The Assignee agrees
 that, upon receiving the consent of the Company and the Agent to such assignment and from and after
 the Effective Date (as such term is defined in Section 5 of the Assignment and Acceptance), the Assignee
 shall be bound by the terms of the Credit Agreement, with respect to the interest in the Credit Agreement
 assigned to it as specified 

above, as fully and to the same
extent as if the Assignee were the Bank  originally holding such interest in the Credit
Agreement.  

        3.        The
following administrative  details apply to the Assignee:  

        (A)      Lending
Office(s):  

	Assignee name:	____________________________________
	Address:	____________________________________
	 	____________________________________
	 	____________________________________
	 	____________________________________
	Attention:	____________________________________
	Telephone: 	(   )__________________________________
	Facsimile: 	(   )__________________________________

	Assignee name:	____________________________________
	Address:	____________________________________
	 	____________________________________
	 	____________________________________
	 	____________________________________
	Attention:	____________________________________
	Telephone: 	(   )__________________________________
	Facsimile: 	(   )__________________________________

        (B)      Notice
Address: 

	Assignee name:	____________________________________
	Address:	____________________________________
	 	____________________________________
	 	____________________________________
	 	____________________________________
	Attention:	____________________________________
	Telephone: 	(   )__________________________________
	Facsimile: 	(   )__________________________________

        (C)      Payment Instructions:  

	Account No.:	____________________________________
	At:	____________________________________
	 	____________________________________
	 	____________________________________
	 	____________________________________
	Reference:	____________________________________
	Attention:	____________________________________

Schedule 1 
Page 2 

        4.        You
are entitled to  rely upon the representations, warranties and covenants of each of the
Assignor and Assignee contained  in the Assignment and Acceptance.  

        5.        This
Notice of Assignment  and Acceptance may be executed by the Assignor and the Assignee in
separate counterparts, each of which  when so executed and delivered shall be deemed to
be an original and all of which taken together shall  constitute one and the same notice
and agreement.  

[remainder of page intentionally left blank] 

Schedule 1 
Page 3 

        IN WITNESS WHEREOF, the Assignor and the
 Assignee have caused this Notice of Assignment and Acceptance to be executed by their respective duly
 authorized officials, officers or agents as of the date first above mentioned. 

	 	Very truly yours,
	
Adjusted Commitment: 	[ASSIGNOR]
	 
	$________________________________	By: ________________________________
	 
	 	Title: ________________________________
	Adjusted Pro Rata Share: 
	
________%
	 
	 
	Commitment: 	[ASSIGNEE]
	 
	$________________________________]	By: ________________________________
	 
	 	Title: ________________________________
	 
	 
	ACKNOWLEDGED this ____ day of ________:
	 
	BANK ONE, NA
	as Agent and as an LC Issuer
	 
	By: ________________________________
	 
	Title: ________________________________
	 
	 
	CONSENTED TO this ____ day of ________:
	 
	DELUXE CORPORATION
	 
	By: ________________________________
	 
	Title: ________________________________

Schedule 1 
Page 4Exhibit 10.1 to Deluxe Corporation Form 10-Q

Exhibit 10.1 

DELUXE CORPORATION2004

ANNUAL INCENTIVE PLAN 

        1.      Establishment. On
January 27, 2004, the Board of Directors of Deluxe           Corporation, upon
recommendation by the Compensation Committee of the Board of           Directors,
approved an incentive plan for executives and key employees of the           Company as
described herein, which plan shall be known as the “Deluxe           Corporation
2004 Annual Incentive Plan.” This Plan shall be submitted for           approval by
the shareholders of Deluxe Corporation at the 2004 Annual Meeting of
          Shareholders, and no benefits shall be paid to Executives pursuant to this Plan
          unless and until this Plan has been approved by the shareholders.  

        2.      Purpose.
The purpose of this Plan is to advance the interests of Deluxe           Corporation
and its shareholders by attracting and retaining key employees, and           by
stimulating the efforts of such employees to contribute to the continued
          success and growth of the business of the Company. This Plan is further
intended           to provide employees with an opportunity to increase their ownership
of the           Company’s common stock and, thereby, to increase their personal
interest in           the long-term success of the business in a manner designed to
increase           shareholder value.  

        3.      Definitions. When
the following terms are used herein with initial           capital letters, they shall
have the following meanings:  

        3.1   
Base Salary — a Participant’s annualized base salary, as determined by
the Compensation Committee, as of the last day of a Performance Period.  

        3.2   
Code — the Internal Revenue Code of 1986, as it may be amended from time to
time, and any proposed, temporary or final Treasury Regulations promulgated thereunder.  

        3.3   
              Common Stock — the common stock, par value $1.00 per share, of Deluxe. 

        3.4   
              Company — Deluxe Corporation, a Minnesota corporation, and its subsidiaries
or affiliates, whether now or hereafter established. 

        3.5   Compensation
Committee — a committee of the Board of Directors of the Company designated by
such Board to administer the Plan which shall consist of members appointed from time to
time by the Board of Directors and shall be composed of not fewer than such number of
directors as shall be required to permit grants and awards made under the Plan to satisfy
the requirements of Rule 16b-3 promulgated by the Securities and Exchange Commission
under the Securities Exchange Act of 1934 (the “1934 Act”), as amended, or any
successor rule or regulation (“Rule 16b-3”). Each member of the Compensation
Committee shall be a “Non-Employee Director” within the meaning of Rule 16b-3
and an “outside director” within the meaning of Section 162(m) of the Code.  

        3.6   
Executives — all Participants for a given Performance Period designated by the
Compensation Committee as “Executives” for purposes of this Plan. The
Compensation 

  

Committee shall designate as
Executives all Participants it reasonably believes may be “named executive officers” under
Item 402 of Regulation S-K promulgated under the 1934 Act for that Performance Period.  

        3.7   
Match Percentage — the percentage established by the Compensation Committee
pursuant to the Plan as provided in Section 6.1 below.  

        3.8   
Maximum Award Percentage — a percentage, which may be greater or less than
100%, as determined by the Compensation Committee for each Participant with respect to
each Performance Period and with respect to each Performance Factor.  

        3.9   Other
Participants — all Participants for a given Performance Period who are not
designated as “Executives” by the Compensation Committee for such Performance
Period.  

        3.10 
Participants — any management or highly compensated employees of the Company
who are designated by the Compensation Committee prior to the start of a Performance
Period as Participants in this Plan. Directors of the Company who are not also employees
of the Company are not eligible to participate in the Plan. Participants shall be
designated as either Executives or Other Participants by the Compensation Committee as
provided in Section 4.3 below.  

        3.11 
Performance Factor — the pre-established, objective performance goals
selected by the Compensation Committee for each Participant with respect to each
Performance Period and which shall be determined solely on account of the attainment of
one or more pre-established, objective performance goals selected by the Compensation
Committee in connection with the grant of an award hereunder; provided, however, that in
the case of Other Participants, such performance goals need not be objective and may be
based on such business criteria as the Compensation Committee may determine to be
appropriate, which may include financial and nonfinancial performance goals that are
linked to such individual’s business unit or the Company as a whole or to such
individual’s areas of responsibility. The objective performance goals for Executives
shall be based solely on one or more of the following business criteria, which may apply
to the individual in question, an identifiable business unit or the Company as a whole,
and on an annual or other periodic or cumulative basis: sales values, margins, volume,
cash flow, stock price, market share, revenue, sales, earnings per share, profits,
earnings before interest expense and taxes, earnings before interest expense, interest
income and taxes, earnings before interest expense, taxes, and depreciation and/or
amortization, earnings before interest expense, interest income, taxes, and depreciation
and/or amortization, return on equity or costs, return on invested or average capital
employed, economic value, or cumulative total return to shareholders (in each case,
whether compared to pre-selected peer groups or not).  

        3.12 
Performance Period — each consecutive twelve-month period commencing on
January 1 of each year during the term of this Plan.  

        3.13 
Plan — this Deluxe Corporation 2004 Annual Incentive Plan.  

        3.14 
Stock Incentive Plan — the Deluxe Corporation 2000 Stock Incentive Plan, as
amended from time to time.  

2 

        3.15 
Target Award — a dollar amount or a percentage of Base Salary, which may be
greater or less than 100%, as determined by the Compensation Committee with respect to
each Participant for each Performance Period.  

        3.16 
             Units — Restricted Stock Units, as defined in the Stock Incentive Plan. 

        4.      Administration. 

        4.1   
Power and Authority of Compensation Committee. The Plan shall be administered by
the Compensation Committee. The Compensation Committee shall have full power and
authority, subject to all the applicable provisions of the Plan and applicable law, to
(a) establish, amend, suspend or waive such rules and regulations and appoint such agents
as it deems necessary or advisable for the proper administration of the Plan, (b)
construe, interpret and administer the Plan and any instrument or agreement relating to
the Plan, (c) determine, from time to time, whether shares of Common Stock and/or Units
will be made available to Participants under the Plan, and (d) make all other
determinations and take all other actions necessary or advisable for the administration
of the Plan. Unless otherwise expressly provided in the Plan, each determination made and
each action taken by the Compensation Committee pursuant to the Plan or any instrument or
agreement relating to the Plan shall be (i) within the sole discretion of the
Compensation Committee, (ii) may be made at any time and (iii) shall be final, binding
and conclusive for all purposes on all persons, including, but not limited to,
Participants, and their legal representatives and beneficiaries, and employees of the
Company.  

        4.2   
Delegation. The Compensation Committee may delegate its powers and duties under
the Plan to one or more officers of the Company or a committee of such officers, subject
to such terms, conditions and limitations as the Compensation Committee may establish in
its sole discretion; provided, however, that the Compensation Committee shall not
delegate its power (a) to make determinations regarding officers or directors of the
Company who are subject to Section 16 of the 1934 Act or (b) in such a manner as would
cause the Plan not to comply with the provisions of Section 162(m) of the Code.  

        4.3   
              Determinations made prior to each Performance Period.  On or before the
90th day of each Performance Period, the Compensation Committee shall: 

        (a)              designate
all Participants (including designation as Executives or Other           Participants)
for such Performance Period;  

        (b)              establish
a Target Award and a Match Percentage for each Participant; and  

        (c)              with
respect to each Participant, establish one or more Performance Factors and           a
corresponding Maximum Award Percentage for each Performance Factor.  

        4.4   
Certification. Following the close of each Performance Period and prior to payment
of any amount to any Participant under the Plan, the Compensation Committee must certify
in writing which of the applicable Performance Factors for that Performance Period (and
the corresponding Maximum Award Percentages) have been achieved and certify as to the
attainment of all other factors upon which any payments to a Participant for that
Performance Period are to be based.  

3 

        4.5   
Shareholder Approval. The material terms of this Plan shall be disclosed to and
submitted for approval by shareholders of the Company in accordance with Section 162(m)
of the Code. No amount shall be paid to any Executive under this Plan unless such
shareholder approval has been obtained.  

        5.     
Incentive Payment.  

        5.1   
              Formula.  Each Participant shall receive an incentive payment for each
Performance Period in an amount not greater than: 

        (a)    the
Participant’s Target Award for the Performance Period, multiplied by  

        (b)    the
Participant’s Maximum Award Percentage for the Performance Period that
          corresponds to the Performance Factor achieved by the Participant for that
          Performance Period.  

        5.2   
              Limitations. 

        (a)    Discretionary
Increase or Reduction. The Compensation Committee shall           retain sole and
absolute discretion to increase or reduce the amount of any           incentive payment
otherwise payable to any Participant under this Plan, but may           not increase the
payment to any Executive for any Performance Period.  

        (b)    Continued
Employment. Except as otherwise provided by the Compensation           Committee, no
incentive payment under this Plan with respect to a Performance           Period shall be
paid or owed to a Participant whose employment terminates prior           to the last day
of such Performance Period.  

        (c)    Maximum
Payments. No Participant shall receive a payment under this Plan           for any
Performance Period in excess of $5.0 million, including the value of any           Match
Percentage.  

        6.      Benefit
Payments. 

        6.1   
Time and Form of Payments. Prior to a date specified by the Compensation Committee
but in no event later than the 90th day of a Performance Period, each Participant shall
elect whether to receive benefits which may be paid under the Plan in cash or in the form
of shares of Common Stock or Units (whichever is made available by the Compensation
Committee to such Participant in the Compensation Committee’s sole discretion) or
some combination thereof. Participants who elect to receive some percentage of the
incentive payment in the form of cash shall be entitled to elect, at the same time as the
cash election is made, to defer such receipt in accordance with the terms of any Company
deferred compensation plan in effect at the time and applicable to such cash payment. In
the event a Participant has elected to receive some percentage of the incentive payment
in the form of cash, and subject to any such deferred compensation election, such cash
incentive shall be paid as soon as administratively feasible after the Compensation
Committee has made the certifications provided for in Section 4.4 above and otherwise
determined the amount of such Participant’s incentive payment payable under this
Plan. In the event that a Participant chooses to receive some percentage of the incentive
payment in the form of shares or Units (as the case may be), in lieu of cash (the “Share
Dollar Amount”), the Participant shall be entitled to receive shares of restricted
Common Stock or Units (as the 

4 

case may be) equal to a percentage
(the “Match Percentage”) of the Share Dollar Amount established by the
Compensation Committee pursuant to this Plan. The number of shares or Units issued or
granted pursuant to this Section 6.1 shall be determined based on the fair market value
of a share of Common Stock (as determined in accordance with the terms of the Stock
Incentive Plan) as of the date specified by the Compensation Committee that such shares
or Units are to be issued or awarded, after the Compensation Committee has made the
certifications required by Section  4.4 above and otherwise determined the amount of
a Participant’s incentive payment payable under this Plan.  

        In
the event a Participant has elected to receive some percentage of the incentive payment
in the form of shares of Common Stock or Units (as the case may be), such shares or Units
shall be issued or awarded, respectively, pursuant to the Stock Incentive Plan, which
shares or Units shall be subject to such forfeiture rights and to such restrictions
regarding transfer as may be established by the Compensation Committee; provided,
however, that the individual share limitations contained in Section 4(d)(i) and (ii) of
the Stock Incentive Plan shall not apply to shares issued under this Plan, but the
aggregate value of any cash, shares and Units paid or granted to any Participant for any
Performance Period shall be subject to Section 5.2(c) of this Plan.  

        6.2   
Nontransferability. Except as otherwise determined by the Compensation Committee,
no right to any incentive payment hereunder, whether payable in cash, shares or other
property, shall be transferable by a Participant otherwise than by will or by the laws of
descent and distribution; provided, however, that if so determined by the Compensation
Committee, a Participant may, in the manner established by the Compensation Committee
designate a beneficiary or beneficiaries to exercise the rights of the Participant and
receive any cash, shares or property hereunder upon the death of the Participant. No
right to any incentive payment hereunder may be pledged, attached or otherwise
encumbered, and any purported pledge, attachment or encumbrance thereof shall be void and
unenforceable against the Company.  

        6.3   
Tax Withholding. In order to comply with all applicable federal or state income,
social security, payroll, withholding or other tax laws or regulations, the Compensation
Committee may establish such policy or policies as it deems appropriate with respect to
such laws and regulations, including without limitation, the establishment of policies to
ensure that all applicable federal or state income, social security, payroll, withholding
or other taxes, which are the sole and absolute responsibility of the Participant, are
withheld or collected from such Participant. In order to assist a Participant in paying
all or part of the federal and state taxes to be withheld or collected upon receipt or
payment of (or the lapse of restrictions relating to) an incentive payment payable
hereunder, the Compensation Committee, in its sole discretion and subject to such
additional terms and conditions as it may adopt, may permit the Participant to satisfy
such tax obligation by (a) electing to have the Company withhold a portion of the shares
of Common Stock otherwise to be delivered upon payment of (or the lapse of restrictions
relating to) an incentive payment hereunder with a fair market value equal to the amount
of such taxes or (b) delivering to the Company shares of Common Stock other than the
shares issuable upon payment of (or the lapse of restrictions relating to) such incentive
payment with a fair market value equal to the amount of such taxes. The election, if any,
must be made on or before the date that the amount of tax to be withheld is determined.  

5 

        7.      Amendment
and Termination; Adjustments. Except to the extent prohibited           by applicable
law and unless otherwise expressly provided in the Plan:  

        (a)    Amendments
to the Plan. The Board of Directors of the Company may amend,           alter,
suspend, discontinue or terminate the Plan, without the approval of the
          shareholders of the Company, except that no such amendment, alteration,
          suspension, discontinuation or termination shall be made that, absent such
          approval, would violate the rules or regulations of the New York Stock
Exchange,           any other securities exchange or the National Association of
Securities Dealers,           Inc. that are applicable to the Company.  

        (b)    Waivers
of Incentive Payment Conditions or Rights. The Compensation           Committee may
waive any conditions of or rights of the Company under any right           to an
incentive payment hereunder, prospectively or retroactively.  

        (c)    Limitation
on Amendments to Incentive Payment Rights. Neither the           Compensation
Committee nor the Company may amend, alter, suspend, discontinue or           terminate
any rights to an incentive payment, prospectively or retroactively,           without the
consent of the Participant or holder or beneficiary thereof, except           as
otherwise herein provided.  

        (d)    Correction
of Defects, Omissions and Inconsistencies. The Compensation           Committee may
correct any defect, supply any omission or reconcile any           inconsistency in the
Plan in the manner and to the extent it shall deem           desirable to carry the Plan
into effect.  

        8.      Miscellaneous. 

        8.1   
              Effective Date. This Plan shall be deemed effective, subject to shareholder
approval, as of January 1, 2004. 

        8.2   
Term of the Plan. Unless the Plan shall have been discontinued or terminated, the
Plan shall terminate on December 31, 2008. No right to receive an incentive payment shall
be granted after the termination of the Plan. However, unless otherwise expressly
provided in the Plan, any right to receive an incentive payment theretofore granted may
extend beyond the termination of the Plan, and the authority of the Board of Directors
and Compensation Committee to amend or otherwise administer the Plan shall extend beyond
the termination of the Plan.  

        8.3   
Headings. Headings are given to the Sections and subsections of the Plan solely as
a convenience to facilitate reference. Such headings shall not be deemed in any way
material or relevant to the construction or interpretation of the Plan or any provision
thereof.  

        8.4   
Applicability to Successors. This Plan shall be binding upon and inure to the
benefit of the Company and each Participant, the successors and assigns of the Company,
and the beneficiaries, personal representatives and heirs of each Participant. If the
Company becomes a party to any merger, consolidation or reorganization, this Plan shall
remain in full force and effect as an obligation of the Company or its successors in
interest (except to the extent modified by the terms of the Stock Incentive Plan with
respect to the shares of restricted Common Stock or Units (as the case may be) issued
pursuant to Section 6.1 hereof).  

6 

        8.5   
Employment Rights and Other Benefit Programs. The provisions of this Plan shall
not give any Participant any right to be retained in the employment of the Company. In
the absence of any specific agreement to the contrary, this Plan shall not affect any
right of the Company, or of any affiliate of the Company, to terminate, with or without
cause, any Participant’s employment at any time. This Plan shall not replace any
contract of employment, whether oral or written, between the Company and any Participant,
but shall be considered a supplement thereto. This Plan is in addition to, and not in
lieu of, any other employee benefit plan or program in which any Participant may be or
become eligible to participate by reason of employment with the Company. No compensation
or benefit awarded to or realized by any Participant under the Plan shall be included for
the purpose of computing such Participant’s compensation under any
compensation-based retirement, disability, or similar plan of the Company unless required
by law or otherwise provided by such other plan.  

        8.6   
No Trust or Fund Created. This Plan shall not create or be construed to create a
trust or separate fund of any kind or a fiduciary relationship between the Company or any
affiliate and a Participant or any other person. To the extent that any person acquires a
right to receive payments from the Company or any affiliate pursuant to this Plan, such
right shall be no greater than the right of any unsecured general creditor of the Company
or of any affiliate.  

        8.7   
              Governing Law.  The validity, construction and effect of the Plan or any
incentive payment payable under the Plan shall be determined in accordance with the laws
of the State of Minnesota. 

        8.8   
Severability. If any provision of the Plan is or becomes or is deemed to be
invalid, illegal or unenforceable in any jurisdiction such provision shall be construed
or deemed amended to conform to applicable laws, or if it cannot be so construed or
deemed amended without, in the determination of the Compensation Committee, materially
altering the purpose or intent of the Plan, such provision shall be stricken as to such
jurisdiction, and the remainder of the Plan shall remain in full force and effect.  

        8.9   
Qualified Performance-Based Compensation. All of the terms and conditions of the
Plan shall be interpreted in such a fashion as to qualify all compensation paid hereunder
as “qualified performance-based compensation” within the meaning of Section
162(m) of the Code.  

7

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