Document:

EX-10.1

Exhibit
10.1

 

 

300 PARK AVENUE, INC.,

Landlord

and

GREENHILL & CO. INC,

Tenant

 

LEASE

 

	 	Premises: 	 	The Entire Seventeenth, Eighteenth, Twenty-Second,

Twenty-Third and Twenty-Fourth Floors
	 
	 	 	 	300 Park Avenue

New York, New York
	 
	 	Dated:  	 	June 17, 2009

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE 1 BASIC LEASE PROVISIONS

	 	 	3	 
	ARTICLE 2 PREMISES, TERM, RENT

	 	 	5	 
	ARTICLE 3 USE AND OCCUPANCY

	 	 	6	 
	ARTICLE 4 CONDITION OF THE PREMISES

	 	 	7	 
	ARTICLE 6 FLOOR LOAD

	 	 	13	 
	ARTICLE 7 REPAIRS

	 	 	13	 
	ARTICLE 8 INCREASES IN TAXES AND OPERATING EXPENSES

	 	 	15	 
	ARTICLE 9 REQUIREMENTS OF LAW

	 	 	21	 
	ARTICLE 10 SUBORDINATION

	 	 	23	 
	ARTICLE 11 SERVICES

	 	 	25	 
	ARTICLE 12 INSURANCE; PROPERTY LOSS OR DAMAGE; REIMBURSEMENT

	 	 	31	 
	ARTICLE 13 DESTRUCTION — FIRE OR OTHER CAUSE

	 	 	33	 
	ARTICLE 14 EMINENT DOMAIN

	 	 	35	 
	ARTICLE 15 ASSIGNMENT AND SUBLETTING

	 	 	36	 
	ARTICLE 16 ELECTRICITY

	 	 	46	 
	ARTICLE 17 ACCESS TO PREMISES

	 	 	48	 
	ARTICLE 18 DEFAULT

	 	 	50	 
	ARTICLE 19 REMEDIES AND DAMAGES

	 	 	52	 
	ARTICLE 20 LANDLORD’S RIGHT TO CURE; FEES AND EXPENSES

	 	 	54	 
	ARTICLE 21 NO REPRESENTATIONS BY LANDLORD: LANDLORD’S APPROVAL

	 	 	54	 
	ARTICLE 22 END OF TERM

	 	 	55	 
	ARTICLE 23 QUIET ENJOYMENT

	 	 	57	 
	ARTICLE 24 NO SURRENDER; NO WAIVER

	 	 	57	 
	ARTICLE 25 WAIVER OF TRIAL BY JURY

	 	 	58	 
	ARTICLE 26 INABILITY TO PERFORM

	 	 	58	 
	ARTICLE 27 NOTICES

	 	 	58	 
	ARTICLE 28 RULES AND REGULATIONS

	 	 	59	 
	ARTICLE 29 PARTNERSHIP TENANT

	 	 	59	 
	ARTICLE 30 VAULT SPACE

	 	 	60	 
	ARTICLE 31 BROKER

	 	 	60	 
	ARTICLE 32 INDEMNITY

	 	 	61	 
	ARTICLE 33 ADJACENT EXCAVATION; SHORING

	 	 	62	 
	ARTICLE 34 TAX STATUS OF BENEFICIAL OWNERS

	 	 	63	 
	ARTICLE 35 LETTER OF CREDIT

	 	 	63	 
	ARTICLE 36 MISCELLANEOUS

	 	 	65	 
	ARTICLE 37 RENEWAL OPTIONS

	 	 	69	 
	ARTICLE 38 RIGHT OF FIRST OFFER

	 	 	71	 
	ARTICLE 39 SATELLITE DISH

	 	 	75	 
	ARTICLE 40 ARBITRATION

	 	 	77	 
	ARTICLE 41 22ND FLOOR PREMISES

	 	 	78	 
	ARTICLE 42 17TH FLOOR PREMISES

	 	 	79	 
	ARTICLE 43 HVAC EQUIPMENT

	 	 	83	 

     EXHIBITS:

A — Floor Plans

B — Definitions

i

 

C — Description of 17th Floor Premises Work

D — Heating, Ventilation and Air Conditioning Specifications

E — Cleaning Specifications

F — Rules and Regulations

G — Form of Landlord SNDA

H —  HVAC Space

I  —  SNDA

J  —  Sign

K — Composite Article 1

ii

 

LEASE

          LEASE,
made as of the ___ day of June, 2009 (the “Effective Date”), between 300 PARK
AVENUE, INC. (the “Landlord”), a Delaware corporation, having an office c/o Tishman Speyer
Properties, L.P. 520 Madison Avenue, New York, New York 10022 and GREENHILL & CO. INC., a Delaware
corporation (the “Tenant”), having an office at 300 Park Avenue, New York, New York 10022.

          Landlord and Tenant hereby covenant and agree as follows:

ARTICLE 1

BASIC LEASE PROVISIONS

	 	 	 
	PREMISES

	 	The entire 18th floor (the “18th Floor
Premises”), the entire 23rd floor (the “23rd
Floor Premises”) and the entire 24th floor
(the “24th Floor Premises” and, together with
the 18th Floor Premises and the 23rd Floor
Premises, collectively the “Premises”) of the
Building, substantially as shown on Exhibits
A-1, A-2 and A-3, respectively.
	 
	 	 
	BUILDING

	 	The building, fixtures, equipment and other
improvements and appurtenances now located or
hereafter erected, located or placed upon the
land known as 300 Park Avenue, New York, New
York.
	 
	 	 
	REAL PROPERTY

	 	The Building, together with the plot of land
upon which it stands.
	 
	 	 
	COMMENCEMENT DATE

	 	September 1, 2010.
	 
	 	 
	RENT COMMENCEMENT DATE

	 	As defined in
Section 2.4.
	 
	 	 
	EXPIRATION DATE

	 	October 31, 2020.
	 
	 	 
	TERM

	 	The period commencing on the Commencement Date
and ending on the Expiration Date.
	 
	 	 
	PERMITTED USES

	 	Executive and general offices for the
transaction of Tenant’s (and its permitted
subtenants’ and assignees’) business and such
ancillary uses as shall be reasonably required
in connection therewith, which uses shall
always be consistent with the operation of
first-class office buildings in midtown
Manhattan.

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	BASE TAX YEAR

	 	The Tax Year commencing on July 1, 2010 and
ending on June 30, 2011.
	 
	 	 
	BASE EXPENSE YEAR

	 	Calendar year 2011.
	 
	 	 
	TENANT’S PROPORTIONATE SHARE

	 	(a) As to Operating Expenses:
	 
	 	 
	 

	 	7.071 percent.
	 
	 	 
	 

	 	(b) As to Taxes:
	 
	 	 
	 

	 	6.828 percent.
	 
	 	 
	AGREED AREA OF BUILDING

	 	(a) As to Operating Expenses:
	 
	 	 
	 

	 	745,196 rentable square feet.
	 
	 	 
	 

	 	(b) As to Taxes:
	 
	 	 
	 

	 	771,761 rentable square feet.
	 
	 	 
	AGREED AREA OF PREMISES

	 	(a) As to the 18th Floor Premises:
	 
	 	 
	 

	 	20,620 rentable square feet;
	 
	 	 
	 

	 	(b) As to the 23rd Floor Premises:
	 
	 	 
	 

	 	19,806 rentable square feet;
	 
	 	 
	 

	 	(c) As to the 24th Floor Premises:
	 
	 	 
	 

	 	12,267 rentable square feet,
	 
	 	 
	 

	 	comprising 52,693 rentable square feet in the
aggregate, which rentable square footage has
been mutually determined by Landlord and Tenant
for purposes of this Lease and Landlord makes
no representation whatsoever as to the actual
square feet contained in the Premises or the
Building or any portions thereof but the Agreed
Area of Building was calculated on a basis
consistent with the calculation of the Agreed
Area of Premises.
	 
	 	 
	FIXED RENT

	 	(i) $3,951,975.00 per annum ($329,331.25 per
month) for the period (the “First Rental
Period”) commencing on the Rent Commencement
Date and ending on the day preceding the 5th
anniversary of the Rent Commencement Date, both
dates inclusive; and (ii) $4,215,440.00 per
annum ($351,286.67 per month) for the period
(the “Second Rental Period”) commencing

4

 

	 	 	 
	 
	 	 
	 

	 	on the
5th anniversary of the Rent Commencement Date
and ending on the Expiration Date, both dates
inclusive.
	 
	 	 
	ADDITIONAL RENT

	 	All sums other than Fixed Rent payable by
Tenant to Landlord under this Lease, including
Tenant’s Tax Payment, Tenant’s Operating
Payment, late charges, overtime or excess
service charges, and interest and other costs
related to Tenant’s failure to perform any of
its obligations under this Lease.
	 
	 	 
	RENT

	 	Fixed Rent and Additional Rent, collectively.
	 
	 	 
	INTEREST RATE

	 	The lesser of (i) four percent per annum above
the then current Base Rate charged by Citibank,
N.A. or its successor, or (ii) the maximum rate
permitted by applicable law.
	 
	 	 
	LETTER OF CREDIT

	 	$2,621,575.00.
	 
	 	 
	BROKER

	 	CB Richard Ellis, Inc.
	 
	 	 
	LANDLORD’S AGENT

	 	Tishman Speyer Properties, L.P. or any other
person designated at any time and from time to
time by Landlord as Landlord’s Agent and their
successors and assigns.
	 
	 	 
	LANDLORD’S CONTRIBUTION

	 	$790,395.

All capitalized terms used in the text of this Lease without definition are defined in this
Article 1 or in Exhibit B.

ARTICLE 2

PREMISES, TERM, RENT

     Section 2.1 Lease of Premises. Subject to the terms of this Lease, Landlord leases to
Tenant and Tenant leases from Landlord the Premises for the Term. In addition, Landlord grants to
Tenant the right to use, on a non-exclusive basis and in common with other tenants, the lobby area
and other Building common elements and common facilities serving the Premises.

     Section 2.2 Payment of Rent. Tenant shall pay to Landlord, without notice or demand,
and without any set-off, counterclaim, abatement or deduction whatsoever, except as may be
expressly set forth in this Lease, in lawful money of the United States by wire transfer of funds
to Landlord’s account, as designated by Landlord, or by check drawn upon a bank approved by
Landlord: (i) Fixed Rent in equal monthly installments, in advance, on the first (1st) Business Day
of each calendar month during the Term, commencing on the Rent

5

 

Commencement Date, and (ii) Additional Rent, at the times and in the manner set forth in this
Lease. If the Rent Commencement Date is not the first day of a month, then on the Rent Commencement
Date Tenant shall pay Fixed Rent for the period from the Rent Commencement Date through the last
day of such month.

     Section 2.3 Interest. If Tenant shall fail to pay any installment or other payment of
Rent when due, interest shall accrue on such installment or payment as a late charge, from the date
such installment or payment became due until the date paid at the Interest Rate, except that no
such interest shall accrue in respect of the first two installments or payments that are past due
in any consecutive twelve month period provided that neither such installment nor payment is past
due for more than five days and, if such installment or payment is past due for more than five
days, interest shall accrue thereon from the first day such installment or payment became past due.

     Section 2.4 Credit. Notwithstanding any provision of this Lease to the contrary and
provided this Lease is in full force and effect and no Event of Default then exists, the Fixed Rent
in respect of the 18th Floor Premises, 23rd Floor Premises and 24th Floor Premises shall be abated
for a period of two months commencing on the Commencement Date and ending on the two month
anniversary of the Commencement Date (the “Rent Commencement Date”).

ARTICLE 3

USE AND OCCUPANCY

     Section 3.1 (a) Permitted Uses. Tenant shall use and occupy the Premises for the
Permitted Uses and for no other purpose. Tenant shall not use or occupy or permit the use or
occupancy of any part of the Premises in a manner constituting a Prohibited Use. If Tenant uses or
suffers the use of the Premises for a purpose which constitutes a Prohibited Use or violates any
Requirement, or which causes the Building to be in violation of any Requirement, then Tenant shall
promptly discontinue such use upon notice of such violation. Tenant’s failure to promptly (and, in
all events, within 10 days after such notice) discontinue such use shall be a material default
hereunder and Landlord shall have the right, without Tenant having any further period in which to
cure, (i) to terminate this Lease immediately, and (ii) to exercise any and all rights and remedies
available to Landlord at law or in equity.

          (b) Licenses and Permits. Tenant, at its expense, shall obtain and at all times
maintain and comply with the terms and conditions of all licenses and permits required for the
lawful conduct of the Permitted Uses in the Premises. Landlord shall during the Term keep in effect
at all times a certificate of occupancy issued for the Building permitting the use of the Premises
as offices.

     Section 3.2 Prohibited Uses. Notwithstanding anything in this Lease to the contrary,
in no event shall the Premises be used or occupied by a Person, the principal business of which at
the time such use or occupancy is contemplated shall be the manufacture or sale of soaps,
detergents, laundry products, toilet articles, pet products or pet food or cosmetics or the
principal business of which shall be that of Colgate-Palmolive Company (“Colgate”), or its
parent or one of its significant subsidiaries or affiliates then occupying any portion of the
Building or

6

 

which includes in the name under which such Person conducts business or in the name of any of its
products or services either or both of the names “Colgate” or “Palmolive” or the name of any such
subsidiary or affiliate or Person into which Colgate may merge or any parent company of Colgate or
any simulation of any such names.

     Section 3.3 Use of Name “Colgate-Palmolive Building.” So long as Colgate (or any of
its subsidiaries, affiliates or parents) shall be a tenant in the Building, the use of the name
“Colgate-Palmolive Building” as a designation of the Building has been reserved for the use of
Colgate and any other tenants in the Building which obtain the written consent of Colgate to use
the same. Tenant hereby covenants and agrees that it will not use the name “Colgate-Palmolive
Building,” or any simulation or abbreviation thereof, as its address either on stationery, by
listing in the telephone book, or in other printed matter, publication or picture or rendering or
in advertising matter of any sort unless such use is approved in writing by Colgate and Landlord.
Tenant covenants that any sublease of any space in the Premises shall contain a similar restriction
binding the subtenant.

     Section 3.4 Delivery of Premises. Upon the Effective Date, the terms and provisions
hereof shall be fully binding on Landlord and Tenant prior to the occurrence of the Commencement
Date. The Term of this Lease shall commence on the Commencement Date and, unless sooner terminated
or extended as hereinafter provided, shall end on the Expiration Date, provided that Sections
4.2 and 11.12 and Articles 38 and 42 (and all other provisions of this
Lease as such provisions may relate to Expansion Space and/or the 17th Floor Premises) shall apply
as of the Effective Date. Tenant currently occupies the 18th Floor Premises pursuant to the Lease
dated as of April 21, 2000 between Landlord’s predecessor-in-interest, TST 300 Park, L.P., and
Tenant’s predecessor-in-interest, McCarter & English, LLP, as amended by Consent to Assignment and
Amendment to Lease dated as of October 3, 2003 and by First Amendment to Consent to Assignment and
Amendment to Lease dated as of October 30, 2003 (collectively, the “18th Floor Lease”).
Tenant occupies the 23rd Floor Premises and the 24th Floor Premises pursuant the Lease dated as of
February 18, 2000 between Landlord’s predecessor-in-interest, TST 300 Park, L.P., and Tenant’s
predecessor-in-interest, Greenhill & Co. LLC, as amended by First Amendment of Lease dated as of
June 15, 2000 and Second Amendment to Lease dated as of March 27, 2007 (collectively, the
“Original Lease”). Landlord shall be deemed to have delivered to Tenant, and Tenant shall
be deemed to have accepted from Landlord, possession of the 18th Floor Premises, the 23rd Floor
Premises and the 24th Floor Premises on the Commencement Date. This Lease amends, restates and
replaces in its entirety as of the Commencement Date the 18th Floor Lease and the Original Lease,
except as otherwise expressly provided herein. The 18th Floor Lease shall continue to apply to the
18th Floor Premises and the Original Lease shall continue to apply to the 23rd Floor Premises and
the 24th Floor Premises through the day preceding the Commencement Date in each case.

ARTICLE 4

CONDITION OF THE PREMISES

     Section 4.1 Condition. Tenant occupies the 18th Floor Premises, the 23rd Floor
Premises and the 24th Floor Premises on the date hereof, is fully familiar with the Premises and
agrees (a) to accept possession of the Premises in the “as is” condition existing on the

7

 

Commencement Date, (b) that neither Landlord nor Landlord’s agents have made any representations or
warranties with respect to the Premises or the Building except as expressly set forth herein, and
(c) except for Landlord’s Contribution as expressly set forth in Section 4.2 hereof and the
related provisions of Articles 38 and 42, Landlord has no obligation to perform any
work, supply any materials, incur any expense or make any alterations or improvements to the
Premises to prepare the Premises for Tenant’s occupancy. Any work to be performed by Tenant in
connection with Tenant’s continued occupancy of the Premises (and/or Tenant’s occupancy of the 17th
Floor Premises, the 22nd Floor Premises and/or any Expansion Space) for the conduct of its
business shall be referred to hereinafter as the “Initial Installations”. Tenant’s
continued occupancy of any part of the Premises for the conduct of its business shall be conclusive
evidence, as against Tenant, that Tenant has accepted possession of the Premises in its then
current condition and at the time such possession was taken, the Premises and the Building were in
a good and satisfactory condition as required by this Lease.

     Section 4.2 Landlord’s Contribution. (a) Landlord agrees to pay to Tenant after the
earlier to occur of (x) the Commencement Date and (y) the 17th Floor Premises Commencement Date an
amount not to exceed Landlord’s Contribution toward the cost of the Initial Installations
(excluding any “soft-costs” (other than architectural, engineering, permit and construction
consulting fees not in excess of 15% of Landlord’s Contribution) and Tenant’s Property), provided
that as of the date on which Landlord is required to make payment thereof pursuant to Section
4.2(b): (i) this Lease is in full force and effect, and (ii) no Event of Default then exists.
Tenant may apply Landlord’s Contribution to any portion of the Premises, the 17th Floor Premises
and/or the 22nd Floor Premises as Tenant sees fit. Tenant shall pay all costs of the Initial
Installations in excess of Landlord’s Contribution. Landlord’s Contribution shall be payable
solely on account of labor directly related to the Initial Installations and materials delivered to
the Premises in connection with the Initial Installations (excluding any “soft-costs” (other than
architectural, engineering, permit and construction consulting fees not in excess of 15% of
Landlord’s Contribution) and Tenant’s Property). Tenant shall not be entitled to receive any
portion of Landlord’s Contribution not actually expended by Tenant in the performance of the
Initial Installations in accordance with this Section 4.2, nor shall Tenant have any right
to apply any unexpended portion of Landlord’s Contribution as a credit against Rent or any other
obligation of Tenant hereunder. Upon the completion of the Initial Installations and satisfaction
of the conditions set forth in Section 4.2, or upon the occurrence of the date which is 36
months after the Commencement Date (which date shall be extended by reason of strikes, labor
trouble or any other similar cause beyond Tenant’s control in performing the Initial
Installations), whichever first occurs, any amount of Landlord’s Contribution which has not been
previously requisitioned shall be retained by Landlord; provided, however, that
notwithstanding anything contained herein to the contrary, the applicable portion of such retained
amounts shall continue to be held for the benefit of Tenant by Landlord if Tenant delivers a notice
to Landlord prior to satisfaction of the conditions set forth in Section 4.2 that it is in
dispute with any contractors, subcontractors, vendors or other providers of service and refuses to
make payments at such time. Landlord acknowledges that Tenant may perform the Initial Installations
in stages and that the completion of one stage of such work shall in no event limit Tenant’s right
to obtain then unapplied portions of Landlord’s Contribution. Final completion of the Initial
Installations shall not preclude Tenant from submitting requisitions in respect of costs incurred
by Tenant prior to completing such work, provided such requisitions are submitted within 36 months
after the Commencement Date (as extended as aforesaid).

          (b) Landlord shall make progress payments to Tenant on a monthly basis, for the work
performed during the previous month, up to 90% of Landlord’s Contribution. Each of Landlord’s
progress payments shall be limited to an amount equal to the aggregate amounts

8

 

theretofore paid by Tenant (as certified by an authorized officer of Tenant and by Tenant’s
independent architect) to Tenant’s contractors, subcontractors and material suppliers which have
not been subject to previous disbursements from Landlord’s Contribution multiplied by 90%.
Provided that Tenant delivers requisitions to Landlord on or prior to the 10th day of any month,
such progress payments shall be made within 30 days next following the delivery to Landlord of
requisitions therefor, signed by an authorized officer of Tenant, which requisitions shall set
forth the names of each contractor and subcontractor to whom payment is due, and the amount
thereof, and shall be accompanied by (i) with the exception of the first requisition, copies of
partial waivers of lien from all contractors, subcontractors, and material suppliers covering all
work and materials which were the subject of previous progress payments by Landlord and Tenant,
(ii) a written certification from Tenant’s architect that the work for which the requisition is
being made has been completed substantially in accordance with the plans and specifications
approved by Landlord and (iii) such other documents and information as Landlord may reasonably
request, including in connection with title drawdowns and endorsements. Any requisition made
following the 10th day of any month shall be paid no later than the last day of the month following
the month in which such requisitions are made. Landlord shall disburse any amount retained by it
hereunder upon submission by Tenant to Landlord of Tenant’s requisition therefor accompanied by all
documentation required under this Section 4.2(b), together with (A) proof of the
satisfactory completion of all required inspections and issuance of any required approvals, permits
and sign-offs for the Initial Installation by Governmental Authorities having jurisdiction
thereover, (B) final plans and specifications for the Initial Installations as required pursuant to
Section 5.1(c) and (C) issuance of final lien waivers by all contractors, subcontractors
and material suppliers covering all of the Initial Installations. Notwithstanding the foregoing,
if at the time of disbursement of Landlord’s Contribution, Tenant has not obtained lien waivers
from any contractor, subcontractor or material supplier, then Landlord shall disburse the unpaid
portion of Landlord’s Contribution in respect of the Initial Installations to the extent Tenant has
obtained lien waivers in respect thereof and shall disburse the remainder of Landlord’s
Contribution in respect thereof when Tenant has received the lien waivers issued by such
contractor, subcontractor and/or material supplier in respect threrof. The right to receive
Landlord’s Contribution is for the exclusive benefit of Tenant, and in no event shall such right be
assigned to or be enforceable by or for the benefit of any third party, including any contractor,
subcontractor, materialman, laborer, architect, engineer, attorney or other Person.

ARTICLE 5

ALTERATIONS

     Section 5.1 Tenant’s Alterations. (a) Tenant shall not make any alterations,
additions or other physical changes in or about the Premises, including the Initial Installations
(collectively, “Alterations”), other than decorative Alterations such as painting, wall
coverings, floor coverings and low voltage cabling (collectively, “Decorative
Alterations”), without Landlord’s prior consent, which may be withheld in Landlord’s sole
discretion. Notwithstanding the foregoing, Landlord shall not unreasonably withhold its consent to
Alterations so long as such Alterations (“Non-Structural Alterations”) (i) are
non-structural and do not adversely affect the Building Systems, (ii) are performed only by
Landlord’s designated contractors or by contractors approved by Landlord to perform such
Alterations, (iii) affect only the Premises and are not visible from outside of the Premises or the
Building, (iv) do not affect the certificate of occupancy issued for the Building or the Premises,
(v) do not adversely affect any service

9

 

furnished by Landlord to Tenant or to any other tenant of the Building and (vi) do not violate any
Requirement or cause the Premises or the Building to be non-compliant with any Requirement.

          (b) Plans and Specifications. Prior to making any Alterations, Tenant, at its
expense, shall (i) submit to Landlord for its approval, detailed plans and specifications
(including layout, architectural, mechanical, electrical, plumbing, sprinkler and structural
drawings) of each proposed Alteration (other than Decorative Alterations), and with respect to any
Alteration affecting any Building System, Tenant shall submit proof that the Alteration has been
designed by, or reviewed and approved by, Landlord’s designated engineer for the affected Building
System, (ii) obtain all permits, approvals and certificates required by any Governmental
Authorities, (iii) furnish to Landlord duplicate original policies or certificates of worker’s
compensation (covering all persons to be employed by Tenant, and Tenant’s contractors and
subcontractors in connection with such Alteration) and comprehensive public liability (including
property damage coverage) insurance and Builder’s Risk coverage (issued on a completed value basis)
all in such form, with such companies, for such periods and in such amounts as Landlord may
reasonably require, naming Landlord, Landlord’s managing agent, and their respective employees and
agents, any Lessor and any Mortgagee as additional insureds and (iv) furnish to Landlord such other
evidence of Tenant’s ability to complete and to fully pay for such Alterations (other than
Decorative Alterations) as is reasonably satisfactory to Landlord unless Tenant has a net worth,
determined in accordance with generally accepted accounting principles, consistently applied, of at
least $100 million (the “Minimum Net Worth”) as reflected in Tenant’s most recently audited
financial statements. Upon Tenant’s request, Landlord shall reasonably cooperate with Tenant in
obtaining any permits, approvals or certificates required to be obtained by Tenant in connection
with any permitted Alteration (if the provisions of the applicable Requirement require that
Landlord join in such application), provided that Tenant shall reimburse Landlord for any cost,
expense or liability in connection therewith. Tenant shall give Landlord not less than 5 Business
Days’ notice prior to performing any Decorative Alteration which notice shall contain a description
of such Decorative Alteration. If Landlord shall deny any request for approval to an Alteration,
Landlord shall provide Tenant with a reasonably detailed explanation of the reason(s) for such
denial. Any plans and specifications resubmitted by Tenant to Landlord for Landlord’s approval
reflecting changes or additions made to such plans and specifications as requested by Landlord
(“Tenant’s Resubmission”) shall be approved or denied by Landlord, subject to Section
5.1(a), within 5 Business Days following Tenant’s Resubmission. If Landlord shall fail to
respond to Tenant’s request for approval to any Alterations within 10 Business Days following the
submission of final and complete plans and specifications thereof (or within 5 Business Days after
Tenant’s Resubmission), as applicable, Landlord shall be deemed to have granted such approval,
provided Landlord fails to respond to Tenant within 5 Business Days after receipt of a second
notice from Tenant (which notice may only be sent if Landlord failed to respond within said 10 or 5
Business Day period, as aforesaid, and such notice shall expressly state in bold letters that
Landlord’s failure to timely respond thereto shall be deemed approval of the Alterations which are
the subject of such notice).

          (c) Governmental Approvals. Upon completion of any Alterations, Tenant, at its
expense, shall promptly obtain certificates of final approval of such Alterations required by any
Governmental Authority and shall furnish Landlord with copies thereof, together with “as-built”
plans and specifications or final plans and specifications with all changes therein attached
thereto for such Alterations (other than Decorative Alterations), prepared on an Autocad Computer
Assisted Drafting and Design system (or such other system or medium as Landlord may accept) using
naming conventions issued by the American Institute of Architects in June, 1990 (or such other
naming convention as Landlord may accept) and magnetic computer media

10

 

of such record drawings and specifications, translated in DXF format or another format acceptable
to Landlord.

     Section 5.2 Manner and Quality of Alterations. All Alterations shall be performed (a)
in a good and workmanlike manner and free from defects, (b) in accordance with the plans and
specifications as required under Section 5.1, and by contractors approved by Landlord, (c)
under the supervision of a licensed architect reasonably satisfactory to Landlord (other than
Decorative Alterations) unless such supervision is not required by any Requirement or good
construction practice, and (d) in compliance with all Requirements, the terms of this Lease, all
standard procedures and regulations then prescribed by Landlord for all work performed in the
Building. All materials and equipment to be used in the Premises shall be of first quality and at
least equal to the applicable standards for the Building then established by Landlord, and no such
materials or equipment (other than Tenant’s Property) shall be subject to any lien or other
encumbrance. At Tenant’s request and if and to the extent Landlord maintains such a list, Landlord
shall furnish Tenant with a list of contractors (containing at least 3 contractors for each trade
other than in respect of any Building System) approved by Landlord, who may perform on behalf of
Tenant the types of Alterations described on such request. If Tenant engages any contractor set
forth on such list, Tenant shall not be required to obtain Landlord’s consent to such contractor.
If Landlord shall not then maintain a list of approved contractors for the Building or if Tenant
desires to use a contractor who is not named on such list, Landlord shall not unreasonably withhold
its approval of any reputable contractor proposed by Tenant (except for those contractors
performing work on Building Systems), provided such contractor shall provide Landlord with
appropriate positive references and proof of financial responsibility reasonably satisfactory to
Landlord. Landlord shall, within 10 Business Days after receiving any request from Tenant for such
approval, together with such references and proof, respond to such request and if Landlord fails to
respond to such request within such 10-Business Day period, such request for approval shall be
deemed approved by Landlord. Landlord has previously provided Tenant, and Tenant acknowledges
receipt of, a copy of such such list of contractors.

     Section 5.3 Removal of Tenant’s Property. Tenant’s Property shall be and remain the
property of Tenant and Tenant may remove the same at any time on or before the Expiration Date. On
or prior to the Expiration Date or sooner termination of the Term, Tenant shall, at Tenant’s
expense, remove all of Tenant’s Property and, unless otherwise directed by Landlord: (a) remove any
Specialty Alteration and (b) close up any slab penetrations in the Premises. At least 30 days
prior to commencing the removal of any Specialty Alterations or effecting such closings, Tenant
shall notify Landlord of its intention to remove such Specialty Alterations or effect such
closings, and if Landlord notifies Tenant within such 30 day period, Tenant shall not remove such
Specialty Alterations or close such slab penetrations, and the Specialty Alterations not so removed
shall become the property of Landlord upon the Expiration Date or sooner termination of the Term.
Tenant shall repair and restore, in a good and workmanlike manner, any damage to the Premises or
the Building caused by Tenant’s removal of any Specialty Alterations or Tenant’s Property or by the
closing of any slab penetrations, and upon default thereof, Tenant shall reimburse Landlord, on
demand, for Landlord’s cost of repairing and restoring such damage. Any Specialty Alterations or
Tenant’s Property not removed on or before the Expiration Date or sooner termination of the Term
shall be deemed abandoned and Landlord may either retain the same as Landlord’s property or remove
and dispose of same, and repair and restore any damage caused thereby, at Tenant’s cost and without
accountability to Tenant. This Section 5.3 shall survive the expiration or earlier
termination of this Lease. Notwithstanding any provision of this Section 5.3 to the
contrary, Tenant shall have no obligation to remove any Specialty Alteration located in the
Premises as of

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the Effective Date (and in the 17th Floor Premises as of the 17th Floor Premises Commencement Date
and in the 22nd Floor Premises as of the 22nd Floor Premises Commencement Date), except any slab
penetrations required in connection with any internal staircase located within such premises and
the gym and associated restrooms located in the 24th Floor Premises.

     Section 5.4 Mechanic’s Liens. Tenant, at its expense, shall discharge any lien or
charge filed against the Premises or the Real Property in connection with any work claimed or
determined in good faith by Landlord to have been done by or on behalf of, or materials claimed or
determined in good faith by Landlord to have been furnished to, Tenant, within 10 days after
Tenant’s receipt of notice thereof by payment, filing the bond required by law or otherwise in
accordance with law.

     Section 5.5 Labor Relations. Tenant shall not employ, or permit the employment of,
any contractor, mechanic or laborer, or permit any materials to be delivered to or used in the
Building, if, in Landlord’s sole judgment, such employment, delivery or use will interfere or cause
any conflict or disharmony with other contractors, mechanics or laborers engaged in the
construction, maintenance or operation of the Building by Landlord, Tenant or others, or the use
and enjoyment of the Building by other tenants or occupants. In the event of such interference,
conflict or disharmony, upon Landlord’s request, Tenant shall cause all contractors, mechanics or
laborers causing such interference or conflict to leave the Building immediately.

     Section 5.6 Tenant’s Costs. Tenant shall pay to Landlord or its designee, within 10
days after demand, all reasonable out-of-pocket costs actually incurred by Landlord in connection
with (a) Landlord’s review of the Alterations and plans and specifications in connection therewith
requiring Landlord consent therefor by Landlord’s outside structural and/or mechanical engineers
and (b) the provision of Building personnel required to be made available at additional expense
during the performance of any Alteration required by trade union policy or otherwise, to operate
elevators or otherwise to facilitate Tenant’s Alterations.

     Section 5.7 Tenant’s Equipment. Tenant shall not move any heavy machinery, heavy
equipment, freight, bulky matter or fixtures (collectively, “Equipment”) into or out of the
Building without Landlord’s prior consent, which consent shall not be unreasonably withheld, and
payment to Landlord of any reasonable out-of-pocket costs incurred by Landlord in connection
therewith. If such Equipment requires special handling, Tenant agrees (a) to employ only persons
holding a Master Rigger’s License to perform such work, (b) all work performed in connection
therewith shall comply with all applicable Requirements and (c) such work shall be done only during
hours designated by Landlord.

     Section 5.8 Legal Compliance. The approval of plans or specifications, or consent by
Landlord to the making of any Alterations, does not constitute Landlord’s agreement or
representation that such plans, specifications or Alterations comply with any Requirements or the
certificate of occupancy issued for the Building. Landlord shall have no liability to Tenant or any
other party in connection with Landlord’s approval of any plans and specifications for any
Alterations, or Landlord’s consent to Tenant’s performing any Alterations. If as the result of any
Alterations made by or on behalf of Tenant, Landlord is required to make any alterations or
improvements to any part of the Building in order to comply with any Requirements, whether or not
in or near the Premises, Tenant shall pay all costs and expenses incurred by Landlord in connection
with such alterations or improvements as provided in Article 20.

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     Section 5.9 Window Pockets. Tenant shall, as part of the Initial Installations, design
and construct the perimeter of the ceiling of each floor of the Premises which is adjacent to any
exterior window with pockets to permit the windows in the Premises to open, which design and
construction shall be subject to Landlord’s prior approval.

     Section 5.10 Staircase. Tenant shall have the right, subject to specific location,
manner of installation, to the terms of this Article and the approval of Landlord’s structural
engineer, to construct an internal staircase within the Premises between the 17th floor of the
Premises and the 18th floor of the Premises, between the 22nd floor of the Premises and the 23rd
floor of the Premises and between the 23rd floor of the Premises and the 24th floor of the Premises
and between any other contiguous floors of the Building which Tenant leases pursuant to Article
38.

     Section 5.11 Non-Structural Alterations. Landlord’s consent shall not be required
with respect to any Non-Structural Alteration the estimated cost of which either individually or in
the aggregate with other Non-Structural Alterations constructed within the prior 12 month period
does not exceed $400,000, provided, however, that at least 10 Business Days prior to making any
such Non-Structural Alteration, Tenant shall submit to Landlord the plans and specifications for
such Alteration unless plans and specifications shall not be required by any applicable Requirement
or good construction practice (which plans and specifications, notwithstanding any provisions of
Section 5.1(b) to the contrary, need not be prepared by a licensed architect unless so
required pursuant to any Requirement or good construction practice), and any such Alteration shall
otherwise be performed in compliance with the provisions of this Article 5. Tenant shall
also deliver to Landlord upon request copies of contracts in order that Landlord can confirm that
the Alterations in question are in fact Non-Structural Alterations.

ARTICLE 6

FLOOR LOAD

     Section 6.1 Floor Load. Tenant shall not place a load upon any floor of the Premises
that exceeds 50 pounds per square foot “live load”. Landlord reserves the right to reasonably
designate the position of all Equipment which Tenant wishes to place within the Premises, and to
place limitations on the weight thereof to the extent the same would adversely affect the Building
Systems, the structure of the Building, or the reasonable use and occupancy of the Building by
other tenants or occupants (now or hereafter), in each case other than to a de
minimis extent.

ARTICLE 7

REPAIRS

     Section 7.1 Landlord’s Repair and Maintenance. Landlord shall operate, maintain and,
except as provided in Section 7.2 hereof, make all necessary repairs (both structural and
nonstructural) to (a) the Building Systems up to the point of connection to the Premises, (b) the

13

 

structural components of the Building, including the roof, and (c) the public portions of the
Building, both exterior and interior, in conformance with standards applicable to first-class
renovated office buildings of comparable age and quality in midtown Manhattan.

     Section 7.2 Tenant’s Repair and Maintenance. Tenant shall promptly, at its expense
and in compliance with Article 5 of this Lease, (a) make all nonstructural repairs to the
Premises and the fixtures, equipment and appurtenances therein as and when needed to preserve the
Premises in good working order and condition, except for reasonable wear and tear and damage for
which Tenant is not responsible pursuant to this Lease, and (b) repair (to the extent feasible and
appropriate) or replace scratched or damaged doors, signs and glass (other than exterior window
glass) in and about the Premises. Without limiting the foregoing, all damage to the Premises or to
any other part of the Building, or to any fixtures, equipment, sprinkler system and/or
appurtenances thereof, whether requiring structural or nonstructural repairs, caused by or
resulting from any act, omission, neglect or improper conduct of, or Alterations made by, or the
moving of Tenant’s fixtures, furniture or equipment into, within or out of the Premises by any
Tenant Party, and all damage to any portion of the Building Systems located in the Premises, shall
be repaired at Tenant’s expense. Such repairs shall be made by (i) Tenant, at Tenant’s expense, to
the extent that the required repairs are nonstructural in nature and do not affect any Building
System or any portion of the Building outside of the Premises, or (ii) Landlord, at Tenant’s
expense, to the extent that the required repairs are structural in nature, involve replacement of
exterior window glass (if damaged by Tenant) or affect any Building System or any portion of the
Building outside of the Premises. All Tenant repairs shall be of a quality at least equal to the
original work or construction utilizing new construction materials and shall be made in accordance
with this Lease. Tenant shall give Landlord prompt notice of any defective condition of which
Tenant is aware in any Building System located in, servicing or passing through the Premises. If
Tenant fails to proceed with due diligence to make any repairs required to be made by Tenant,
Landlord may make such repairs and all costs and expenses incurred by Landlord on account thereof
shall be paid by Tenant as provided in Article 20.

     Section 7.3 Vermin. Tenant shall, at its expense, cause the Premises to be
exterminated, from time to time as Landlord may reasonably direct or whenever there is evidence of
infestation to Landlord’s reasonable satisfaction, by licensed exterminators approved by Landlord.

     Section 7.4 Interruptions Due to Repairs. Landlord reserves the right to make all
changes, alterations, additions, improvements, repairs or replacements to the Building, including
the Building Systems which provide services to Tenant, as Landlord deems necessary or reasonably
desirable, provided that in no event shall the level of any Building service decrease in any
material respect from the level required of Landlord in this Lease as a result thereof (other than
temporary changes in the level of such services during the performance of any such work by
Landlord). Landlord shall use reasonable efforts to minimize interference with Tenant’s use and
occupancy of the Premises during the making of such changes, repairs, alterations, additions,
improvements, repairs or replacements provided that Landlord shall have no obligation to employ
contractors or labor at overtime or other premium pay rates or to incur any other overtime costs or
additional expenses whatsoever unless such interference (i) materially interferes with access to
the Premises, (ii) threatens the health and safety of any occupancy or (iii) materially interferes
with Tenant’s ability to conduct its business in the Premises (in which event Landlord shall incur
overtime or premium costs, subject to reimbursement pursuant to Article 8 below), and
unless, upon Tenant’s request and expense (as to incremental costs in excess of regular,
non-overtime pay rates only of laborers or contractors excluding employees

14

 

of the Building), Landlord shall employ contractors or labor at overtime or other premium pay rates
or incur other overtime costs or additional expenses. Except as otherwise provided in Section
11.9, there shall be no Rent abatement or allowance to Tenant for a diminution of rental value,
no actual or constructive eviction of Tenant, in whole or in part, no relief from any of Tenant’s
other obligations under this Lease, and no liability on the part of Landlord by reason of
inconvenience, annoyance or injury to business arising from Landlord, Tenant or others making, or
failing to make, any repairs, alterations, additions or improvements in or to any portion of the
Building or the Premises, or in or to fixtures, appurtenances or equipment therein. Landlord shall
provide Tenant with reasonable prior notice of any repairs that affect the use of or access to the
Premises.

ARTICLE 8

INCREASES IN TAXES AND OPERATING EXPENSES

     Section 8.1 Definitions. For the purposes of this Article 8, the following
terms shall have the meanings set forth below:

          (a) “Assessed Valuation” shall mean the amount for which the Real Property is assessed
pursuant to applicable provisions of the City Charter and of the Administrative Code of the City of
New York for the purpose of imposition of Taxes.

          (b) “Base Operating Expenses” shall mean the Operating Expenses for the Base Expense
Year.

          (c) “Base Taxes” shall mean an amount equal to the Taxes payable on account of the
Base Tax Year.

          (d) “Comparison Year” shall mean (a) with respect to Taxes, any calendar year
commencing subsequent to the first day of the Base Tax Year, and (b) with respect to Operating
Expenses, any calendar year commencing subsequent to the first day of the Base Expense Year.

          (e) “Operating Expenses” shall mean the aggregate of all costs and expenses (and
taxes, if any, thereon) paid or incurred by or on behalf of Landlord (whether directly or through
independent contractors) in connection with the ownership, operation, repair and maintenance of the
Building and the Real Property, such as: (i) insurance premiums, (ii) the cost of electricity, gas,
oil, steam, water, air conditioning and other fuel and utilities, (iii) reasonable attorneys’ fees
and disbursements and auditing and other professional fees and expenses, (iv) management fees to
the extent not in excess of the greater of (A) 2-1/2% of the gross rentals and other revenues
collected for the Real Property (plus reimbursable expenses payable in connection with property
management services) and (B) fees charged by Landlord or related entities for the management by any
of them of other first class properties in the area of the Building; and (v) the annual
depreciation or amortization, on a straight-line basis over the useful life thereof as determined
in accordance with good management practice (with interest on the unamortized portion at the Base
Rate per annum) of any capital costs incurred after the Base Expense Year for any equipment, device
or other improvement made or acquired which is either (A) intended as a labor-saving measure or
cost-saving measure in the operation, maintenance

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or repair of the Building (but only to the extent that the annual amounts to be amortized do not
exceed the amounts of anticipated annual savings as reasonably estimated by Landlord), or (B)
required by any Requirement. Operating Expenses shall not include any Excluded Expenses. If during
all or part of the Base Expense Year or any Comparison Year, Landlord shall not furnish any
particular item(s) of work or service (which would otherwise constitute an Operating Expense) to
any leasable portions of the Building for any reason, then, for purposes of computing Operating
Expenses for the Base Expense Year or any Comparison Year, as the case may be, the amount included
in Operating Expenses for such period shall be increased by an amount equal to the costs and
expenses that would have been reasonably incurred by Landlord during such period if Landlord had
furnished such item(s) of work or service to such portion of the Building. In determining the
amount of Operating Expenses for the Base Expense Year or any Comparison Year, if less than 95
percent of the Building rentable area shall have been occupied by tenant(s) at any time during any
such Base Expense Year or Comparison Year, Operating Expenses shall be determined for such Base
Expense Year or Comparison Year to be an amount equal to the like expenses which would normally be
expected to be incurred had such occupancy been 95 percent throughout such Base Expense Year or
Comparison Year.

          (f) “Statement” shall mean a statement containing a comparison of (1) the Taxes
payable for the Base Tax Year and the Taxes payable for any Tax Year in question, or (2) the Base
Operating Expenses and the Operating Expenses payable for any Comparison Year.

          (g) “Tax Year” shall mean the twelve month period from July 1 through June 30 (or
such other period as hereinafter may be duly adopted by the City of New York as its fiscal year for
real estate tax purposes).

          (h) “Taxes” shall mean (i) all real estate taxes, assessments (including assessments
made as a result of the Building being within a business improvement district), sewer and water
rents, rates and charges and other governmental levies, impositions or charges, whether general,
special, ordinary, extraordinary, foreseen or unforeseen, which may be assessed, levied or imposed
upon all or any part of the Real Property, and (ii) all expenses (including reasonable attorneys’
fees and disbursements and experts’ and other witnesses’ fees) incurred in contesting any of the
foregoing or in connection with any application for a reduction of the Assessed Valuation of all or
any part of the Real Property or for a judicial review thereof (but in no event shall such expenses
be included in Taxes payable for the Base Tax Year). Taxes shall not include (x) interest or
penalties incurred by Landlord as a result of Landlord’s late payment of Taxes, except for interest
payable in connection with the installment payment of assessments pursuant to the next sentence or
(y) franchise or net income taxes, estate or inheritance taxes, profit taxes, gross receipt taxes,
capital levy taxes, succession taxes, transfer, gift taxes, documentary stamp taxes mortgage taxes
imposed upon Landlord. If Landlord elects to pay any assessment in annual installments, then for
the purposes of this Article 8, (A) such assessment shall be deemed to have been so divided
and to be payable in the maximum number of installments permitted by law, and (B) there shall be
deemed included in Taxes for each Comparison Year the installments of such assessment becoming
payable during such Comparison Year, together with interest payable during such Comparison Year on
such installments and on all installments thereafter becoming due as provided by law, all as if
such assessment had been so divided. If at any time the methods of taxation prevailing on the date
hereof shall be altered so that in lieu of or as an addition to the whole or any part of Taxes,
there shall be assessed, levied or imposed (1) a tax, assessment, levy, imposition or charge based
on the income or rents received from the Real Property whether or not wholly or partially

16

 

as a capital levy or otherwise, (2) a tax, assessment, levy, imposition or charge measured by or
based in whole or in part upon all or any part of the Real Property and imposed upon Landlord, (3)
a license fee measured by the rents, or (4) any other tax, assessment, levy, imposition, charge or
license fee however described or imposed, then all such taxes, assessments, levies, impositions,
charges or license fees or the part thereof so measured or based shall be deemed to be Taxes,
provided that any tax, assessment, levy, imposition or charge imposed on income from the Real
Property shall be calculated as if the Real Property were the only asset of Landlord.

     Section 8.2 (a) Tenant’s Tax Payment. If the Taxes payable for any Tax Year after the
Base Tax Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant’s Proportionate Share of
such excess (“Tenant’s Tax Payment”). Landlord may furnish to Tenant, prior to the
commencement of each Comparison Year in which such Tax Year commences, a statement setting forth
Landlord’s reasonable estimate of Tenant’s Tax Payment for such Tax Year. Subject to the
provisions of this Section 8.2(a), Tenant shall pay to Landlord on the first day of each
month during any such Comparison Year (and on the first day of each month thereafter in such
Comparison Year) an amount equal to 1/12th of Landlord’s estimate of Tenant’s Tax Payment for such
Tax Year. If Landlord shall not furnish any such estimate for such Comparison Year or if Landlord
shall furnish any such estimate subsequent to the commencement thereof, then (x) until the first
day of the month following the month in which such estimate is furnished to Tenant, Tenant shall
pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant
to Landlord under this Section 8.2(a) for the last month of the preceding Comparison Year;
(y) after such estimate is furnished to Tenant, if the installments of Tenant’s Tax Payment
previously made for such Comparison Year were greater or less than the installments of Tenant’s Tax
Payment to be made in accordance with such estimate, then (1) if there is a deficiency, Tenant
shall pay the amount thereof to Landlord within ten (10) Business Days after such estimate is
furnished to Tenant, or (2) if there is an overpayment, Landlord shall credit such overpayment
against the next installments of Rent (and if such overpayment or underpayment was more than 10% of
the actual amount required to be paid hereunder other than as a result of a reduction in Taxes
following any tax reduction proceeding prosecuted by Landlord, then such adjustment shall include
interest at the Base Rate on such underpayment or overpayment, as applicable, from the date
originally paid by Tenant until Tenant pays such deficiency to Landlord or Landlord credits such
overpayment against rent, as applicable); and (z) on the first day of the month following the month
in which such estimate is furnished to Tenant and monthly thereafter throughout such Comparison
Year, Tenant shall pay to Landlord an amount equal to 1/12th of Tenant’s Tax Payment shown on such
estimate. Landlord may, during each Comparison Year, furnish to Tenant a revised Statement of
Landlord’s estimate of Tenant’s Tax Payment for such Comparison Year, and in such case, Tenant’s
Tax Payment for such Comparison Year shall be adjusted and any deficiencies paid or overpayments
credited, as the case may be, substantially in the same manner as provided in the preceding
sentence. After the end of each Comparison Year, Landlord shall furnish to Tenant a Statement of
Taxes applicable to Tenant’s Tax Payment payable for such Comparison Year and (A) if such Statement
shall show that the sums so paid by Tenant were less than Tenant’s Tax Payment due for the Tax Year
commencing during such Comparison Year, Tenant shall pay to Landlord the amount of such deficiency
in Tenant’s Tax Payment within ten (10) Business Days after such Statement is furnished to Tenant,
or (B) if such Statement shall show that the sums so paid by Tenant were more than such Tenant’s
Tax Payment, Landlord shall, at its election, pay to Tenant such overpayment in Tenant’s Tax
Payments or credit such overpayment in Tenant’s Tax Payment against subsequent installments of Rent
payable by Tenant. If there shall be any increase in the Taxes for any Tax Year, whether during or
after such Tax Year, or if there shall be any decrease in the

17

 

Taxes for any Tax Year, Tenant’s Tax Payment for such Comparison Year shall be appropriately
adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in
the same manner as provided in the preceding sentence. The benefit of any discount for any early
payment or prepayment of Taxes and of any tax exemption or abatement relating to all or any part of
the Real Property (to the extent Landlord has expended sums of money to obtain such tax exemption
or abatement, which were not included in Operating Expenses) shall accrue solely to the benefit of
Landlord and Taxes shall be computed without subtracting such discount or taking into account any
such exemption or abatement. Tenant shall be entitled to its pro rata benefit of any other tax
exemption or abatement. Tenant represents and warrants to Tenant that, as of the date hereof, there
is no such abatement or exemption from Taxes applicable to the Building.

          (b) Taxes for each real estate tax fiscal year shall be apportioned on the basis of the number
of days in such fiscal year included in any particular Tax Year subsequent to the Base Tax Year for
the purpose of making the computations under this Section.

          (c) Tenant shall not (and hereby waives any and all rights it may now or hereafter have to)
institute or maintain any action, proceeding or application in any court or other body having the
power to fix or review assessed valuations or tax rates, for the purpose of reducing Taxes. The
filing of any such proceeding by Tenant without Landlord’s consent shall be an immediate Event of
Default hereunder. If the Taxes payable for the Base Tax Year are reduced, the Base Taxes shall be
correspondingly revised, the Additional Rent previously paid or payable on account of Tenant’s Tax
Payment hereunder for all Comparison Years shall be recomputed on the basis of such reduction, and
Tenant shall pay to Landlord within 10 Business Days after being billed therefor, any deficiency
between the amount of such Additional Rent previously computed and paid by Tenant to Landlord, and
the amount due as a result of such recomputations. If the Taxes payable for the Base Tax Year are
increased then Landlord shall either pay to Tenant, or at Landlord’s election, credit against
subsequent payments of Rent due, the amount by which such Additional Rent previously paid on
account of Tenant’s Tax Payment exceeds the amount actually due as a result of such recomputations.
If Landlord receives a refund or credit of Taxes for any Comparison Year, Landlord shall
recalculate Tenant’s Tax Payment for the applicable periods (taking into account the provisions of
Sections 8.2(a) and (b)) and shall, as and when such refund payment or credit is received,
at its election, either pay to Tenant, or credit against subsequent payments of Rent due hereunder,
an amount equal to Tenant’s Proportionate Share of the refund, net of any expenses incurred by
Landlord in achieving such refund and adjustments to Tenant’s Tax Payments resulting from such
recalculation, which amount shall not exceed Tenant’s Tax Payment paid for such Comparison Year.
Landlord shall not be obligated to file any application or institute any proceeding seeking a
reduction in Taxes or the Assessed Valuation.

          (d) Tenant shall be obligated to make Tenant’s Tax Payment regardless of whether Tenant may
be exempt from the payment of any taxes as the result of any reduction, abatement, or exemption
from Taxes granted or agreed to by any Governmental Authority, or by reason of Tenant’s diplomatic
or other tax exempt status.

          (e) If the Expiration Date shall occur on a date other than the last day of a Tax Year, any
Additional Rent payable by Tenant to Landlord under this Section 8.2 for the Comparison
Year in which such Expiration Date occurs shall be apportioned on the basis of the number of days
in the period from such last day to the Expiration Date shall bear to the total number of days in
such Comparison Year. In the event of the expiration or earlier termination of this Lease, any
Additional Rent under this Section 8.2 shall be paid or adjusted within 30 days

18

 

after submission of the Statement. In no event shall Fixed Rent ever be reduced by operation of
this Section 8.2.

          (f) Tenant shall be responsible for any applicable occupancy or rent tax now in effect or
hereafter enacted and applicable to Tenant’s occupancy of the Premises, regardless of whether
imposed by its terms upon Landlord or Tenant and, if such tax is payable by Landlord, Tenant shall
promptly pay such amounts to Landlord, upon Landlord’s demand, as Additional Rent.

     Section 8.3 Tenant’s Operating Payment. (a) If the Operating Expenses payable for any
Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional
Rent during each Comparison Year, Tenant’s Proportionate Share of such excess (“Tenant’s
Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written
statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for
such Comparison Year, based upon such year’s budget. Tenant shall pay to Landlord on the first day
of each month during such Comparison Year an amount equal to one-twelfth of Landlord’s estimate of
Tenant’s Operating Payment for such Comparison Year. If Landlord does not furnish any such estimate
for a Comparison Year until after the commencement thereof, then (i) until the first day of the
month following the month in which such estimate is furnished to Tenant, Tenant shall pay to
Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to
Landlord under this Section 8.3 during the last month of the preceding Comparison Year,
(ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give
notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for
such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be
made for such Comparison Year in accordance with such estimate, and (A) if there shall be a
deficiency, Tenant shall pay the amount thereof within 10 Business Days after demand therefor, or
(B) if there shall have been an overpayment, Landlord shall credit the amount thereof against
subsequent payments of Rent due hereunder (and if such overpayment or underpayment was more than
10% of the actual amount required to be paid hereunder, then such adjustment shall include interest
at the Base Rate on such underpayment or overpayment, as applicable, from the date originally paid
by Tenant until Tenant pays such deficiency to Landlord or Landlord credits such overpayment
against rent, as applicable), and (iii) on the first day of the month following the month in which
such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the
remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of
Tenant’s Operating Payment shown on such estimate.

          (b) Landlord shall furnish to Tenant a Statement of Operating Expenses for the immediately
preceding Comparison Year within 365 days after the end of such Comparison Year. If such Statement
shall show that the sums paid by Tenant under Section 8.3(a) exceeded the actual amount of
Tenant’s Operating Payment for such Comparison Year, Landlord shall credit the amount of such
excess against subsequent payments of Rent due hereunder. If the Statement for such Comparison Year
shall show that the sums so paid by Tenant were less than Tenant’s Operating Payment for such
Comparison Year, Tenant shall pay the amount of such deficiency within 10 Business Days after
Tenant’s receipt of such Statement.

          (c) If the Expiration Date shall occur on a date other than December 31, any Additional Rent
under this Section 8.3 for the Comparison Year in which such Expiration Date shall occur
shall be apportioned on the basis of the number of days in the period from January 1

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to the Expiration Date. Upon the expiration or earlier termination of this Lease, any Additional
Rent under this Article 8 shall be paid or adjusted within 30 days after submission of the
Statement. In no event shall Fixed Rent ever be reduced by operation of this Section 8.3.

     Section 8.4 Formula. The computations of Additional Rent under this Article 8
are intended to constitute a formula for an agreed rental adjustment and may or may not constitute
an actual reimbursement to Landlord for Taxes, costs and expenses paid by Landlord with respect to
the Building.

     Section 8.5 Non-Waiver; Disputes. (a) Landlord’s failure to render any Statement on
a timely basis with respect to any Comparison Year shall not prejudice Landlord’s right to
thereafter render a Statement with respect to such Comparison Year or any subsequent Comparison
Year, nor shall the rendering of a Statement prejudice Landlord’s right to thereafter render a
corrected Statement for any Comparison Year unless such failure continues for more than 2 years
after the expiration of the Comparison Year in question to which such Statement or corrected
Statement relates (i.e., Landlord may not render a revised Statement or a Statement in respect of
any Comparison Year more than 2 years after the expiration of such Comparison Year).

          (b) Each Statement sent to Tenant shall be conclusively binding upon Tenant unless Tenant
shall, (i) pay to Landlord when due the amount set forth in such Statement, without prejudice to
Tenant’s right to dispute such Statement, and (ii) within 120 days after such Statement is sent,
send a written notice to Landlord objecting to such Statement and specifying the reasons for
Tenant’s claim that such Statement is incorrect. Tenant agrees that Tenant will not employ, in
connection with any dispute under this Lease, any person who is to be compensated in whole or in
part, on a contingency fee basis. Landlord shall provide Tenant backup information with respect to
Landlord’s Statement as shall reasonably be necessary for Tenant to confirm the accuracy thereof,
which information shall be determined by Landlord in its sole but reasonable discretion. If the
parties are unable to resolve any such dispute within 30 days following the giving of Tenant’s
notice of objection, either party may within ten days after the expiration of such 30 day period
refer the issues raised to a nationally recognized, independent firm of certified public
accountants selected by Landlord and reasonably acceptable to Tenant, and the decision of such
accountants shall be conclusively binding upon Landlord and Tenant. In connection therewith, Tenant
and such accountants shall execute and deliver to Landlord a confidentiality agreement, in form and
substance reasonably satisfactory to Landlord, whereby such parties agree not to disclose to any
third party any of the information obtained in connection with such review, or the substance of any
admissions or stipulations by any party in connection therewith, or of any resulting
reconciliation, compromise or settlement. Tenant shall pay the fees and expenses relating to such
procedure, unless such accountants shall determine that Landlord overstated the Operating Expenses
by more than 5% for such Comparison Year, as finally determined, in which case Landlord shall pay
such fees and expenses. Except as provided in this Section, Tenant shall have no right whatsoever
to dispute by judicial process or otherwise the accuracy of any Statement.

     Section 8.6 No Reduction in Rent. Anything in this Article 8 to the contrary
notwithstanding, under no circumstances shall any decrease in Operating Expenses or Taxes in any
Comparison Year below the Base Operating Expenses or Base Taxes, as the case may be, result in a
reduction in the Fixed Rent or any other component of Additional Rent payable hereunder.

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ARTICLE 9

REQUIREMENTS OF LAW

     Section 9.1 (a) Tenant’s Compliance. Tenant, at its expense, shall comply (or cause
to be complied) with all Requirements applicable to the Premises, regardless of whether imposed by
their terms upon Landlord or Tenant, provided however, that Tenant shall not be obligated to comply
with any Requirement requiring any structural alteration to the Premises unless the application of
such Requirement arises from (i) Tenant’s manner of use or occupancy of the Premises (as
distinguished from the use or occupancy of the Premises for office purposes generally), (ii) any
cause or condition created by or on behalf of any Tenant Party (including any Alterations), (iii)
the breach of any of Tenant’s obligation under this Lease, (iv) the Americans with Disabilities Act
or New York City Local Law #58 (as each of the same may be amended from time to time), or (v) any
Hazardous Materials having been brought into the Building or affected by any Tenant Party. All
repairs and alterations to the Premises, required to be made by Tenant as provided above to cause
the Premises to comply with any Requirements shall be made by Tenant, at Tenant’s expense and in
compliance with Article 5, if such repairs or alterations are nonstructural, do not affect
any Building System, do not affect the exterior windows of the Premises and do not involve the
performance of work outside of the Premises, or by Landlord, at Tenant’s reasonable expense, if
such repairs or alterations are structural, affect any Building System or the exterior windows of
the Premises or involve the performance of work outside the Premises. If Tenant obtains knowledge
of any failure to comply with any Requirements applicable to the Premises, Tenant shall give
Landlord prompt written notice thereof.

          (b) Hazardous Materials. Tenant shall not (i) cause or permit any Hazardous
Materials to be brought into the Building by any Tenant Party, (ii) cause or permit the storage or
use of Hazardous Materials by any Tenant Party in any manner not permitted by any Requirements, or
(iii) cause or permit the escape, disposal or release of any Hazardous Materials by any Tenant
Party within or in the vicinity of the Building. Nothing herein shall be deemed to prevent
Tenant’s use of any Hazardous Materials customarily used in the ordinary course of office work,
provided such use is in accordance with all Requirements. Tenant shall be responsible, at its
expense, for all matters directly or indirectly based on, or arising or resulting from the actual
or alleged presence of Hazardous Materials in the Premises or in the Building which is caused or
permitted by Tenant or any Tenant Party. Tenant shall provide to Landlord copies of all
communications received by Tenant with respect to any Requirements relating to Hazardous Materials,
and/or any claims made in connection therewith. Upon reasonable prior notice other than in the case
of emergency, Landlord or its agents may perform environmental inspections of the Premises at any
time. Tenant shall have the right to have a representative accompany any party entering the
Premises pursuant to this Section 9.1(b) provided such representative is made available at
the time of such entry. The covenants contained in this subsection shall survive the expiration or
earlier termination of this Lease.

          (c) Landlord’s Compliance. Landlord shall comply with (or cause to be complied with)
all Requirements applicable to the Building which are not the obligation of Tenant, to the extent
that non-compliance would materially impair Tenant’s use and occupancy of the Premises and Tenant’s
ability to conduct its business in the Premises for office use; and the cost thereof shall be
included in Operating Expenses, if and to the extent permitted by Article 8. All
Landlord’s Work shall be performed in accordance with Requirements.

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          (d) Landlord’s Insurance. Tenant shall not cause or permit any action or condition
that would (i) invalidate or conflict with Landlord’s insurance policies, (ii) violate applicable
rules, regulations and guidelines of the Fire Department, Fire Insurance Rating Organization or any
other authority having jurisdiction over the Building, or (iii) cause an increase in the premiums
for fire insurance then covering the Building over that payable with respect to comparable
first-class office buildings as a result of Tenant’s manner of use or occupancy of the Premises (as
distinguished from the use or occupancy of the Premises for office purposes generally) or (iv)
result in insurance companies of good standing refusing to insure the Building or any property
therein in amounts and against risks as reasonably determined by Landlord. If the fire insurance
premiums increase as a result of Tenant’s failure to comply with the provisions of this Article,
Tenant shall promptly cure such failure and shall reimburse Landlord, as Additional Rent, for the
increased fire insurance premiums paid by Landlord as a result of such failure by Tenant. In any
action or proceeding to which Landlord and Tenant are parties, a schedule or “make up” of rates for
the Building or the Premises issued by the appropriate Fire Insurance Rating Organization, or other
body fixing such fire insurance rates, shall be conclusive evidence of the fire insurance rates
then applicable to the Building.

     Section 9.2 Fire Alarm System; Sprinkler. Tenant shall install and thereafter
maintain in good order and repair a sprinkler, fire-alarm and life-safety system in the Premises.
Such installation and maintenance shall be performed by Tenant in accordance with this Lease, the
Rules and Regulations and all Requirements (including Requirements applicable to the installation
of clear glass lot line windows). Landlord shall provide adequate water and water pressure to
support the operation of Tenant’s sprinkler system, provided Tenant’s sprinklers are installed and
designed for a customary office installation. If the Fire Insurance Rating Organization or any
Governmental Authority or any of Landlord’s insurers requires or recommends (where the failure to
implement such recommendation would have an effect described in clauses (i), (ii), (iii) or (iv) of
the first sentence of Section 9.1(d)) any modifications and/or Alterations be made or any
additional equipment be supplied in connection with the sprinkler system or fire alarm and
life-safety system serving the Building or the Premises by reason of Tenant’s manner of use or
occupancy of the Premises (as distinguished from the use or occupancy of the Premises for office
purposes generally), any Alteration performed by Tenant or the location of the partitions, trade
fixtures, or other contents of the Premises, Landlord (to the extent such modifications or
Alterations are structural, affect any Building System or involve the performance of work outside
of the Premises) or Tenant (to the extent such modifications or Alterations are nonstructural, do
not affect any Building System and do not involve the performance of work outside the Premises)
shall make such modifications and/or Alterations, and supply such additional equipment, in either
case at Tenant’s expense.

     Section 9.3 Limitations on Rent. If at any time during the Term by reason of any
Requirement the Rent is not fully collectible, Tenant shall take such other steps (without
additional expense to Tenant) as Landlord may request, and as may be legally permissible, to permit
Landlord to collect the maximum rents which may during the continuance of such restriction be
legally permissible (but not in excess of the Rent reserved under this Lease). Upon the termination
of such restriction during the Term, Tenant shall pay to Landlord, in addition to the Rent for the
period following such termination of the restriction, if legally permissible, the portion of Rent
which would have been paid pursuant to this Lease but for such legal restriction less the Rent paid
by Tenant to Landlord while such restriction was in effect, together with interest thereon at the
Base Rate.

     Section 9.4 Contest of Requirements. Tenant, at its expense, may contest, by
appropriate proceedings prosecuted diligently and in good faith, the legality or applicability of

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any Requirement affecting the Premises and with which Tenant is obligated to comply at its
expense pursuant to Section 9.1, provided that (a) Landlord (or any Indemnitee) shall not
be subject to prosecution for any crime, nor shall the Building, the Real Property or any part
thereof be subject to being imminently condemned or vacated by reason of non-compliance, (b) no
unsafe or hazardous condition relating to such contest or non-compliance then exists which remains
uncured, (c) such non-compliance or contest shall not prevent Landlord from obtaining any and all
permits and licenses required by applicable Requirements in connection with the operation of the
Building, nor shall the certificate of occupancy for the Building be suspended or threatened in
writing by any Governmental Authority to be suspended by reason of noncompliance or by reason of
such contest, (d) Tenant shall indemnify Landlord (and any Indemnitee) against the cost of such
compliance and liability resulting from or incurred in connection with such contest or
non-compliance, (e) Tenant posts security in an amount equal to 125% of the potential liability
unless Tenant then has the Minimum Net Worth as reflected in Tenant’s most recently audited
financial statements, (f) such non-compliance or contest shall not constitute or result in a
violation (either with the giving of notice or the passage of time or both) of the terms of any
Mortgage or Superior Lease, or if such Superior Lease or Mortgage shall condition such
noncompliance or contest upon the taking of action or furnishing of security by Landlord, such
action shall be taken or such security shall be furnished at the expense of Tenant, and (g) Tenant
shall promptly notify Landlord of such contest and keep Landlord regularly advised as to the status
of such proceedings. For the purposes of clause (a) above, Landlord (or any Indemnitee) shall be
deemed subject to prosecution for a crime if Landlord (or any Indemnitee), a Lessor, a Mortgagee or
any of their officers, directors, partners, shareholders, agents or employees is charged with a
crime of any kind whatsoever by reason of such non-compliance unless such charges are withdrawn 10
days before Landlord (or any Indemnitee), such Lessor or such Mortgagee or such officer, director,
partner, shareholder, agent or employee, as the case may be, is required to plead or answer
thereto. Landlord shall execute any documents reasonably required by Tenant in order to permit
Tenant effectively to carry on any such contest permitted under this Section, provided Landlord is
not thereby subjected to any cost or expense not reimbursed by Tenant.

ARTICLE 10

SUBORDINATION

     Section 10.1 Subordination and Attornment. (a) Subject to Section 10.6, this
Lease and Tenant’s rights hereunder are subject and subordinate to all Mortgages and Superior
Leases, and, at the request of any Mortgagee or Lessor, Tenant shall attorn to such Mortgagee or
Lessor, its successors in interest or any purchaser in a foreclosure sale.

          (b) Subject to Section 10.6, if a Lessor or Mortgagee or any other person or entity
shall succeed to the rights of Landlord under this Lease, whether through possession or foreclosure
action or the delivery of a new lease or deed, then at the request of the successor landlord and
upon such successor landlord’s written agreement to accept Tenant’s attornment and to recognize
Tenant’s interest under this Lease, Tenant shall be deemed to have attorned to and recognized such
successor landlord as Landlord under this Lease. The provisions of this Article are self-operative
and require no further instruments to give effect hereto; provided, however, that Tenant shall
promptly execute and deliver any instrument that such successor landlord may reasonably request (x)
evidencing such attornment, (y) setting forth the terms and

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conditions of Tenant’s tenancy, and (z) containing such other terms and conditions as may be
required by such Mortgagee or Lessor, provided such terms and conditions do not, other than to a de
minimis extent, increase Tenant’s obligations or adversely affect the rights of Tenant under this
Lease. Upon such attornment this Lease shall continue in full force and effect as a direct lease
between such successor landlord and Tenant upon all of the terms, conditions and covenants set
forth in this Lease except that such successor landlord shall not be:

               (i) liable for any previous act or omission of Landlord under this Lease;

               (ii) subject to any credit, demand, claim, counterclaim, offset or defense which theretofore
accrued to Tenant against Landlord;

               (iii) if Mortgagee’s or Lessor’s consent is required under any Mortgage or Superior Lease,
bound by any previous modification of this Lease, or by any previous prepayment of more than one
month’s Fixed Rent or Additional Rent;

               (iv) bound by any covenant or obligation of Landlord to perform, undertake or complete any
work in the Premises or to prepare the Premises for Tenant’s initial occupancy;

               (v) required to account for any security deposit of Tenant other than any security deposit
actually delivered to Mortgagee or Lessor by Landlord;

               (vi) bound by any obligation to make any payment to Tenant or grant any credits, except for
services, repairs, maintenance and restoration provided for under this Lease to be performed by
Landlord after the date of such attornment; and

               (vii) responsible for any monies (other than overpayments of Tenant’s Tax Payment or Tenant’s
Operating Payment) owing by Landlord to Tenant which accrued and relate to any period prior to the
date of such attornment.

     Section 10.2 Mortgage or Superior Lease Defaults. Any Mortgagee may elect that this
Lease shall have priority over the Mortgage that it holds and, upon notification to Tenant by such
Mortgagee, this Lease shall be deemed to have priority over such Mortgage, regardless of the date
of this Lease. In connection with any financing of the Real Property, the Building or of the
interest of the lessee under any Superior Lease, Tenant shall consent to any reasonable
modifications of this Lease requested by any lending institution, provided such modifications do
not, other than to a de minimis extent, increase the obligations or adversely affect the rights of
Tenant under this Lease.

     Section 10.3 Tenant’s Termination Right. As long as any Superior Lease or Mortgage
shall exist, Tenant shall not seek to terminate this Lease by reason of any act or omission of
Landlord (a) until the Lessor and/or Mortgagee shall have received notice of such act or omission
(provided the names and addresses of the Lessors and/or Mortgagees have been provided to Tenant),
and (b) if any such Lessor or Mortgagee shall have notified Tenant within 30 days after receipt of
such notice that it intends to remedy such default, then until a reasonable period of time (not to
exceed 90 days) shall have elapsed following the receipt of notice of such default during which
period such Lessors and/or Mortgagees shall have the right, but not the obligation, to diligently
proceed to remedy such act or omission, provided, if such Lessors and/or Mortgagees require
possession of the Real Property to remedy such act or omission, such reasonable period of time (not
to exceed 90 days) shall not commence until the

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earlier to occur of (x) the date that the Lessor and/or Mortgagee obtains possession of the Real
Property (either directly or through a receiver) and (y) the date that is 9 months from the date
that the Lessor and/or Mortgagee shall have received notice of such act or omission.

     Section 10.4 Applicability. The provisions of this Article shall (a) inure to the
benefit of Landlord, any future owner of the Building or the Real Property, any Lessor or Mortgagee
and any sublessor thereof and (b) apply notwithstanding that, as a matter of law, this Lease may
terminate upon the termination of any Superior Lease or the foreclosure of any Mortgage.

     Section 10.5 Future Condominium Declaration. This Lease and Tenant’s rights
hereunder are and will be subject and subordinate to any condominium declaration, by-laws and other
instruments (collectively, the “Declaration”) which may be recorded in order to subject the
Building to a condominium form of ownership pursuant to Article 9B of the New York Real Property
Law or any successor statute, provided that the Declaration does not by its terms increase the Rent
or, other than to a de minimis extent, increase Tenant’s non-Rent obligations or adversely affect
Tenant’s rights under this Lease. At Landlord’s request, and subject to the foregoing proviso,
Tenant will execute and deliver to Landlord an amendment of this Lease confirming such
subordination and modifying this Lease to conform to such condominium regime.

     Section 10.6 Non-Disturbance Agreements. Landlord represents and warrants to Tenant,
as of the date hereof, that there is no Superior Lease and no Mortgage. As a condition to Tenant’s
agreement hereunder to subordinate Tenant’s interest in this Lease to any future Mortgage and
Superior Lease, as the case may be, made between Landlord and any Mortgagee and/or Lessor, Landlord
shall obtain for signature by Tenant from each such future Mortgagee or Lessor, as the case may be,
a subordination, non-disturbance and attornment agreement (“SNDA”) in the standard form
customarily employed by such Mortgagee or Lessor, provided such form contains the protections
provided in the form of SNDA attached hereto as Exhibit I. If Tenant shall fail or refuse,
for any reason, to execute and deliver to Landlord a SNDA in proper form within 10 days after
delivery thereof to Tenant, then Tenant’s interest under this Lease shall be subordinate to the
future Mortgage or Superior Lease and Landlord shall have no further liability to Tenant to obtain
a SNDA from such Mortgagee or Lessor. The parties hereto agree that the form of SNDA attached
hereto as Exhibit I is an acceptable form of SNDA.

ARTICLE 11

SERVICES

     Section 11.1 Elevators. Landlord, at its expense, shall provide passenger elevator
service to the Premises at all times, and at least one freight elevator serving the Premises
available upon Tenant’s prior request, on a non-exclusive “first come, first serve” basis with
other Building tenants, on all Business Days from 8:00 a.m. to 11:45 a.m. and from 1:00 p.m. to
4:45 p.m. Landlord shall at all times during the Term provide at least 2 passenger elevators
serving the Premises from 8:00 a.m. to 6:00 p.m. on Business Days, subject to normal maintenance,
repair obligations and Unavoidable Delays. Landlord, upon Tenant’s request and at Tenant’s
reasonable expense, shall create openings and install hatch doors and related mechanisms and
hardware on the 17th Floor Premises (as hereinafter defined) to permit up to

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two of the elevator cabs in the “high rise” elevator bank of the Building (the “Designated
Elevator(s)”) to provide service (on a non-exclusive basis) between the floors currently served
by such high rise elevator cabs and the 17th floor of the Premises and reprogram such elevator
cabs, at Landlord’s expense, to provide such service, provided that the Named Tenant then leases
and the Named Tenant and/or Related Entities thereof then occupy the 17th Floor Premises under the
Lease and provided further that such elevator cabs may continue to provide service to other floors
in such elevator bank or otherwise. Notwithstanding the foregoing, if Landlord determines, after
consultation by Landlord with an independent third party elevator consultant selected by Landlord
at Tenant’s reasonable expense, in Landlord’s reasonable judgment, that such reprogramming of the
Designated Elevator(s) unreasonably interferes with the provision of elevator service to other
tenants in the Building during “normal business hours”, then such use shall be restricted to
“non-peak” hours (for the purposes of this Lease, “non-peak” hours shall mean all hours except for
8:00 a.m. to 10:00 a.m., 12:00 p.m. to 2:00 p.m. and 4:00 p.m. to 6:00 p.m.).

     Section 11.2 Heating, Ventilation and Air Conditioning. (a) Landlord shall furnish
to the Premises heating, ventilation and air-conditioning (“HVAC”) in accordance with the
standards set forth in Exhibit D on all Business Days from 8:00 a.m. to 6:00 p.m. Landlord,
at its expense, shall repair and maintain the HVAC System in good working order, provided repairs
required as a result of the negligence or willful misconduct of Tenant, its agents or employees,
shall be performed at Tenant’s expense. Landlord shall have access to all air-cooling, fan,
ventilating and machine rooms and electrical closets and all other mechanical installations of
Landlord (collectively, “Mechanical Installations”), and Tenant shall not construct
partitions or other obstructions which may interfere with Landlord’s access thereto or the moving
of Landlord’s equipment to and from the Mechanical Installations. Neither Tenant, nor its agents,
employees or contractors shall at any time enter the Mechanical Installations or tamper with,
adjust, or otherwise affect such Mechanical Installations.

          (b) Landlord shall not be responsible if the normal operation of the Building System
providing HVAC to the Premises (the “HVAC System”) shall fail to provide cooled or heated
air, as the case may be, in accordance with the specifications set forth in Exhibit D by
reason of (i) any machinery or equipment installed by or on behalf of Tenant or any person claiming
through or under Tenant, which shall have an electrical load in excess of the average electrical
load and human occupancy factors for the HVAC System as designed, as the case may be, or (ii) any
rearrangement of partitioning or other Alterations (including the Initial Installations) made or
performed by or on behalf of Tenant or any person claiming through or under Tenant. Tenant shall
install, if missing, blinds or shades on all windows, which blinds and shades and the manner of
installation shall be subject to Landlord’s approval, and shall keep all of the operable windows in
the Premises closed, and lower the blinds when necessary because of the sun’s position, whenever
the HVAC System is in operation or when and as reasonably required by any Requirement. Tenant at
all times shall cooperate fully with Landlord and shall abide by the rules and regulations which
Landlord may reasonably prescribe for the proper functioning and protection of the HVAC System.

     Section 11.3 Overtime Freight Elevators and HVAC. The Rent does not reflect or
include any charge to Tenant for the furnishing of any freight elevator service or HVAC to the
Premises during any periods other than for the hours and days set forth in Sections 11.1 and
11.2 hereof (“Overtime Periods”). Landlord shall not be required to furnish any
such services during Overtime Periods unless Tenant delivers notice to Landlord’s property
management office serving the Building requesting such services at least 24 hours prior to the time
at which such services are to be provided, but Landlord shall use reasonable efforts (without
obligation to

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incur any additional cost) to arrange such service on such shorter notice as Tenant shall provide.
If Landlord furnishes freight elevator service to the Premises during Overtime Periods, Tenant
shall pay to Landlord Landlord’s then established rates for such service in the Building.
Notwithstanding anything to the contrary provided in this Article 11, on two weekends
during which Tenant initially moves into the 17th Floor Premises for the conduct of its business,
upon 5 days’ prior notice from Tenant to Landlord, Landlord shall make available to Tenant freight
elevator service in accordance with Landlord’s then current rules and regulations applicable
thereto from 8:00 p.m. on the “move-in” Friday until 7:00 p.m. on the following Sunday at no cost
to Tenant. If Landlord shall furnish HVAC to the Premises during Overtime Periods upon request of
Tenant or anyone claiming through Tenant, Tenant shall pay to Landlord Landlord’s then established
rates for such service in the Building.

     Section 11.4 Cleaning. Landlord shall cause the Premises (excluding any portions
thereof used for the storage, preparation, service or consumption of food or beverages, as an
exhibition area or classroom, for storage, as a shipping room, mail room or similar purposes, for
private bathrooms, showers or exercise facilities, as a trading floor, or primarily for operation
of computer, data processing, reproduction, duplicating or similar equipment) to be cleaned,
substantially in accordance with the standards set forth in Exhibit E. Any areas of the
Premises requiring cleaning which Landlord is not required to clean under this Section
11.4, and any additional cleaning of any portion of the Premises requested by Tenant shall be
done at Tenant’s expense, by Landlord’s employees or Landlord’s contractor, at rates which shall be
competitive with rates of other cleaning contractors providing services to first-class office
buildings in midtown Manhattan. Landlord and its cleaning contractor and their respective
employees shall have access to the Premises at all times except between 8:00 A.M. and 5:30 P.M. on
Business Days.

     Section 11.5 Water. Landlord, at Landlord’s expense, shall provide to the floor on
which the Premises are located cold water for drinking, cleaning and lavatory purposes. If Tenant
requires or uses water or steam for any additional purposes, Landlord may install a meter to
measure the water or steam furnished. Tenant shall pay the cost of such installation, and for all
maintenance, repairs and replacements thereto, and for the reasonable charges of Landlord for the
water or steam furnished. Tenant shall also pay Landlord’s reasonable charge for any required
pumping or heating thereof, and any sewer rent, tax and/or charge now or hereafter assessed or
imposed upon the Premises or the Real Property pursuant to any Requirement. If any tax is imposed
upon Landlord’s receipts from the sale or resale of water or steam to Tenant, Tenant shall
reimburse Landlord for such tax, if and to the extent permitted by law.

     Section 11.6 Refuse and Rubbish Removal. Landlord shall provide refuse and rubbish
removal services at the Premises for ordinary office refuse and rubbish pursuant to regulations
reasonably established by Landlord. Tenant shall pay to Landlord, within 10 Business Days after
delivery of an invoice therefor, Landlord’s reasonable charge for such removal to the extent that
the refuse generated by Tenant exceeds the refuse and rubbish customarily generated by executive
and general office tenants. Tenant shall not dispose of any refuse and rubbish in the public areas
of the Building, and if any Tenant Party does so, Tenant shall be liable for Landlord’s reasonable
charge for such removal. Tenant shall cause all Tenant Parties to observe such additional rules and
regulations regarding rubbish removal and/or recycling as Landlord may, from time to time,
reasonably impose.

     Section 11.7 Condenser Water. Landlord shall provide condenser water in connection
with Tenant’s independent supplemental air-conditioning units, which shall not

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exceed 125 tons in the aggregate, and which shall be installed in accordance with the provisions of
Article 5 hereof. Tenant shall pay Landlord an annual charge for such condenser water at
$250 per ton, which charge shall be payable in equal monthly installments together with Tenant’s
payment of Fixed Rent and shall be payable whether or not Tenant utilizes such amount of condenser
water, provided Tenant shall have the right at any time after the date of this Lease to irrevocably
reduce the number of tons of condenser water to which Tenant is entitled pursuant to this Section
(which is 125 tons on the date hereof) by giving notice of such reduction to Landlord, whereupon
the number of tons to which Tenant shall be entitled pursuant to the first sentence of this Section
shall be reduced as of the date Landlord shall receive such notice to the lower number of tons
specified in such notice. Tenant shall have no liability to pay the annual charge referred to
above in respect of the number of tons of condenser water given up by Tenant in accordance with
the preceding proviso. Such charge may be increased by Landlord on each anniversary of the
Commencement Date to reflect any increase in Landlord’s cost of providing such service as
reasonably determined by Landlord, provided, however, that in no event shall such charge, as
increased, exceed either (1) (a) the prior year’s charge plus (b) the prior year’s charge
multiplied by the percentage increase, if any, in the Consumer Price Index in effect on such
anniversary of the Commencement Date from that in effect on the immediately preceding anniversary
of the Commencement Date (or the Commencement Date in the case of the one-year anniversary of the
Commencement Date), or (2) Landlord’s established rate for condenser water from time to time in
effect. If Tenant fails to utilize any quantity of condenser water for one year or more, Landlord
shall have the right upon notice to Tenant to irrevocably reduce the number of tons of condenser
water to which Tenant is entitled hereunder by the number of such unutilized tons (unless Tenant
notifies Landlord within ten days after Tenant’s receipt of such notice from Landlord that it
anticipates utilizing a portion or all of such unutilized tons of condenser water, in which case
Landlord shall only have the right to reduce the number of tons of condenser water to which Tenant
is then entitled by such number as Tenant does not anticipate utilizing, provided, however, that
Landlord shall have the right upon further notice to Tenant to reduce the number of tons of
condenser water to which Tenant is then entitled by any number of tons of condenser water that
Tenant has reserved in its notice to Landlord if Tenant fails to utilize any such reserved tons
prior to the expiration of the cooling season (i.e., May 1 to September 30) next following Tenant’s
receipt of the first notice from Landlord), in which case Landlord shall only charge Tenant for
such lower number of tons of condenser water. In addition to the foregoing charges, there shall be
a one-time “tap-in” fee equal to $1,500 per ton of unit capacity (other than in the case of the
17th Floor Premises), payable within fifteen (15) days after rendition of a bill therefor. Landlord
shall not charge Tenant for any tap-in performed in respect of the Premises prior to the date
hereof, provided the same shall not preclude Landlord from charging Tenant for any additional
tap-in required in the Premises after the date hereof. Landlord shall not be liable to Tenant for
any failure or defect in the supply or character of condenser water supplied to Tenant by reason of
any Requirement, act or omission of the public service company serving the Building or for any
other reason not attributable to the negligence or willful misconduct of Landlord, its agents,
contractors and employees.

     Section 11.8 Service Interruptions. Landlord reserves the right to suspend any
service when necessary, by reason of Unavoidable Delays, accidents or emergencies, or for repairs,
alterations or improvements which, in Landlord’s reasonable judgment, are necessary or appropriate
until such Unavoidable Delay, accident or emergency shall cease or such repairs, alterations or
improvements are completed, and Landlord shall not be liable to Tenant for any interruption,
curtailment or failure to supply services. Landlord shall use reasonable efforts to restore such
service, remedy such situation and minimize any interference with Tenant’s business, provided that
Landlord shall have no obligation to employ contractors or labor at

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overtime or other premium pay rates, or to incur any other overtime costs or additional expenses
whatsoever. The exercise of any such right or the occurrence of any such failure by Landlord shall
not (a) constitute an actual or constructive eviction, in whole or in part, (b) except as expressly
provided in Section 11.9, entitle Tenant to any compensation, abatement or diminution of
Rent, (c) relieve Tenant from any of its obligations under this Lease, or (d) impose any liability
upon Landlord by reason of inconvenience to Tenant, or interruption of Tenant’s business, or
otherwise. Landlord shall provide Tenant with at least 7 days’ advance notice of any scheduled
interruption of service other than as a result of an emergency.

     Section 11.9 Rent Abatement. Notwithstanding anything to the contrary contained in
this Lease, if Tenant is unable to use 25% or more of any floor of the Premises for the ordinary
conduct of Tenant’s business due solely to (a) an interruption of an Essential Service (as
hereinafter defined) resulting from Landlord’s performance of an improvement to the Building or the
negligence or willful misconduct of Landlord or (b) Landlord’s breach of an obligation under this
Lease to perform repairs or replacements which results in Landlord’s failure to provide an
Essential Service, in each case other than as a result of Unavoidable Delays, casualty or
condemnation, and such condition continues for a period in excess of 8 consecutive Business Days
or more than 10 non-consecutive Business Days in any 30 day period after (i) Tenant furnishes a
notice to Landlord (the “Abatement Notice”) stating that Tenant’s inability to use such
portion of the Premises is solely due to such condition, (ii) Tenant does not actually use or
occupy such portion of the Premises during such period for the ordinary conduct of its business and
(iii) such condition has not resulted from the negligence or misconduct of any Tenant Party, then
Fixed Rent, Tenant’s Tax Payment and Tenant’s Operating Payment for such affected and unused
portion of the floor of the Premises shall be abated on a per diem basis for the period commencing
on the 9th Business Day or 10th non-consecutive Business Day after Tenant delivers the Abatement
Notice to Landlord and ending on the earlier of (x) the date Tenant reoccupies the applicable
portion of the Premises and (y) the date on which such condition is substantially remedied.
“Essential Service” shall mean a service which Landlord is obligated under this Lease to
provide to Tenant which if not provided shall (1) effectively deny access to the Premises, (2)
threaten the health or safety of any occupants of the Premises or (3) prevent or materially and
adversely restrict the usage of more than 25% of any floor of the Premises for the ordinary conduct
of Tenant’s business.

     Section 11.10 Fire Stairs. Tenant shall have a right to use one fire stair serving
the Premises designated by Landlord (the “Fire Stairs”) only for access between contiguous
floors of the Building on which the Premises are located, at no additional rental charge to Tenant,
provided that (a) such use shall be permitted by Requirements, (b) such use shall be permitted
under the first sentence of Section 9.1(d), (c) Tenant shall comply with all of Landlord’s
reasonable rules and regulations adopted in good faith in effect on the date hereof or adopted in
accordance with Article 28, (d) access doors to the Fire Stairs shall never be propped or
blocked open, (e) Tenant shall not store or place anything in the Fire Stairs or otherwise impede
ingress thereto or egress therefrom, (f) Tenant shall not permit or suffer any Tenant Party to use
any portion of the Fire Stairs other than for ingress and egress between the different floors of
the Premises, except in case of emergency, (g) use of the Fire Stairs shall not disturb any other
tenants or occupants of the Building, (h) Tenant shall, at its sole cost and expense, at Landlord’s
election, (1) install automatic door closing devices satisfactory to Landlord on all doors between
the Fire Stairs and the floors of the Premises, (2) tie such devices into the base-Building
fire-alarm and life-safety system, and (3) maintain the fire doors in good operable condition, (i)
subject to applicable re-entry rules and regulations from time to time in effect, Tenant shall, at
its sole cost and expense, install a key-card locking system satisfactory to

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Landlord on all doors between the Fire Stairs and the floors of the Premises, and (j) if
Tenant shall fail to remedy any violation of this Section 11.10 (other than the obligation
to remove dents or paint) within 48 hours after Landlord shall give Tenant notice of any such
violation or if Landlord shall give three such notices in any six month period, Landlord shall have
the right to immediately revoke Tenant’s right to use the Fire Stairs pursuant to this Section
11.10. All of the provisions of this Lease in respect of insurance and indemnification shall
apply to the Fire Stairs as if the Fire Stairs were part of the Premises. Subject to the provisions
of this Section, Tenant may paint the Fire Stairs and install carpet and light fixtures therein
and make such other Alterations as Landlord shall approve. If Tenant has elected to use same as
contemplated herein, Tenant shall paint the Fire Stairs at least annually.

     Section 11.11 Access to Premises. Subject to Unavoidable Delays, security
requirements, service interruptions, the Rules and Regulations, Tenant shall have access to the
Premises 24 hours a day, 7 days a week.

     Section 11.12 Signage. (a) Tenant and its permitted subtenants shall be entitled to
utilize its standard signage on any floor of the Building which Tenant and its permitted subtenants
fully occupy for the conduct of its business, and directional signage on any floor it partially
occupies, provided such signage shall be approved by Landlord, which approval shall not be
unreasonably withheld if such signage is not visible from the elevators serving the floor in
question. Landlord expressly approves of the interior signage shown on Exhibit J.

          (b) Provided that the Named Tenant and Related Entities are then in occupancy of at least an
aggregate of 72,499 rentable square feet of the Premises for the conduct of its business, Tenant
shall be entitled, at its expense, to place a sign on the exterior of the Building as described in
Exhibit J. Tenant shall, at its sole expense, maintain and repair such sign. Landlord
may, upon reasonable prior notice to Named Tenant, direct Named Tenant to relocate such sign to a
location on the exterior of the Building designated by Landlord and reasonably comparable to the
prior location.

          (c) Subject to Landlord’s approval, which approval shall not be unreasonably withheld or
conditioned, Tenant may make minor modifications to Tenant’s name as used in the signage described
above (e.g., “Greenhill” or “Greenhill & Co. Inc.” or some variant thereof).

     Section 11.13 Conduit. Tenant shall have the right, subject to the terms of this
Article, to install at Tenant’s expense, (a) two two-inch communications cables and conduits in two
different Building riser shafts between the 17th floor of the Building and the 24th floor of the
Building and (b) one two-inch communications cable and conduit in one Building riser shaft between
the point of entry in the basement of the Building and a point of entry to the Premises, each in a
location determined by Landlord (collectively, the “Conduit System”). Landlord shall
provide Tenant and Tenant’s contractors and their respective employees, agents and subcontractors
with reasonable access to such shafts at reasonable times (and subject to the rights of other
tenants) so as to permit Tenant to install and maintain the Conduit System. The Conduit System
shall be deemed a Specialty Alteration for all purposes of this Lease (except that Tenant shall
have no obligation to remove the Conduit System at the end of the Term). The Conduit System shall
be exclusively for the use of Tenant and its permitted subtenants hereunder. All of the
obligations of Tenant under this Lease shall apply to the installation, maintenance, repair,
operation, replacement and use of the Conduit System (but not the removal of same), including
provisions relating to compliance with Requirements, insurance, indemnity, repairs and maintenance
as if the Conduit System were part of the Premises.

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ARTICLE 12

INSURANCE; PROPERTY LOSS OR DAMAGE; REIMBURSEMENT

     Section 12.1 Tenant’s Insurance. (a) Tenant, at its expense, shall obtain and keep in
full force and effect during the Term and prior to having access to the Premises:

          (i) a policy of commercial general liability insurance on an occurrence basis against
claims for personal injury, death and/or property damage occurring in or about the Premises
or the Building, under which Tenant is named as the insured and Landlord, Landlord’s
managing agent, any Lessors, any Mortgagees and any other parties whose names shall have
been furnished by Landlord to Tenant from time to time are named as additional insureds,
which insurance shall provide primary coverage without contribution from any other insurance
carried by or for the benefit of Landlord, Landlord’s managing agent or any Lessors or
Mortgagees named as additional insureds, and Tenant agrees to obtain contractual liability
coverage to insure its indemnity obligations set forth in Article 32 hereof. The
minimum limits of liability applying exclusively to the Premises shall be a combined single
limit with respect to each occurrence and in the aggregate in an amount of not less than
$10,000,000; provided, however, that Landlord shall retain the right to require Tenant to
increase such coverage, from time to time, to that amount of insurance which in Landlord’s
reasonable judgment is then being customarily required by landlords for similar office space
in first-class buildings in the City of New York. The deductible or self insured retention
for such policy shall in no event exceed $10,000 per occurrence at any time. If the
aggregate limit applying to the Premises is reduced by the payment of a claim or
establishment of a reserve equal to or greater than 50% of the annual aggregate, Tenant
shall immediately arrange to have the aggregate limit restored by endorsement to the
existing policy or the purchase of an additional insurance policy unless, in Landlord’s
reasonable judgment, Tenant maintains sufficient excess liability insurance (with a drop
down endorsement) to satisfy the liability requirements of this Lease without the
reinstatement of the aggregate limit;

          (ii) insurance against loss or damage by fire, and such other risks and hazards as are
insurable under then available standard forms of “all risk” property insurance policies with
extended coverage, insuring Tenant’s Property, and all Specialty Alterations for the full
insurable value thereof or replacement cost value thereof, having a deductible amount, if
any, as reasonably determined by Landlord;

          (iii) during the performance of any Alteration, until completion thereof, Builder’s
risk insurance on an “all risk” basis and on a completed value form including a Permission
to Complete and Occupy endorsement, for full replacement value covering the interest of
Landlord and Tenant (and their respective contractors and subcontractors), any Mortgagee and
any Lessor in all work incorporated in the Building and all materials and equipment in or
about the Premises;

          (iv) Workers’ Compensation Insurance, as required by law;

          (v) Business Interruption Insurance; and

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          (vi) such other insurance in such amounts as Landlord, any Mortgagee and/or any Lessor
may reasonably require from time to time.

          (b) All insurance required to be carried by Tenant pursuant to the terms of this Lease (i)
shall contain a provision that (A) no act or omission of Tenant other than intentional acts shall
affect or limit the obligation of the insurance company to pay the amount of any loss sustained,
(B) the policy shall be noncancellable and/or no material change in coverage shall be made thereto
unless Landlord, Lessors and Mortgagees shall have received 30 days’ prior notice of the same, by
certified mail, return receipt requested, and (C) Tenant shall be solely responsible for the
payment of all premiums under such policies and Landlord, Lessors and Mortgagees shall have no
obligation for the payment thereof, and (ii) shall be effected under valid and enforceable policies
issued by reputable and independent insurers permitted to do business in the State of New York and
rated in Best’s Insurance Guide, or any successor thereto (or if there be none, an organization
having a national reputation) as having a Best’s Rating of  “A-” and a “Financial Size Category” of
at least “X” or, if such ratings are not then in effect, the equivalent thereof or such other
financial rating as Landlord may at any time consider appropriate.

          (c) On or prior to the Commencement Date, Tenant shall deliver to Landlord appropriate
policies of insurance, including evidence of waivers of subrogation required to be carried by each
party pursuant to this Article 12. Evidence of each renewal or replacement of a policy
shall be delivered by Tenant to Landlord at least 10 days prior to the expiration of such policy.
In lieu of the policies of insurance required to be delivered to Landlord pursuant to this Article
(the “Policies”), Tenant may deliver to Landlord a certification from Tenant’s insurance
company (on the form currently designated “Acord 27”, or the equivalent, rather than on the form
currently designated “Acord 25-S”, or the equivalent) which shall be binding on Tenant’s insurance
company, and which shall expressly provide that such certification (i) conveys to Landlord and any
other named insured and/or additional insureds thereunder (the “Insured Parties”) all the
rights and privileges afforded under the applicable Policies as primary insurance, and (ii)
contains an unconditional obligation of the insurance company to advise all Insured Parties in
writing by certified mail, return receipt requested, at least 30 days in advance of any termination
or change to the applicable Policies that would affect the interest of any of the Insured Parties.

     Section 12.2 Waiver of Subrogation. Landlord and Tenant shall each procure an
appropriate clause in or endorsement to any property insurance covering the Premises, the Building
and personal property, fixtures and equipment located therein, wherein the insurance companies
shall waive subrogation or consent to a waiver of right of recovery, and Landlord and Tenant agree
not to make any claim against, or seek to recover from, the other for any loss or damage to its
property or the property of others resulting from fire and other hazards to the extent covered by
such property insurance; provided, however, that the release, discharge, exoneration and covenant
not to sue contained herein shall be limited by and coextensive with the terms and provisions of
the waiver of subrogation or waiver of right of recovery. If the payment of an additional premium
is required for the inclusion of, or consent to, a waiver of subrogation, each party shall advise
the other, in writing, of the amount of any such additional premiums attributable to the other
party’s waiver and the other party may pay such additional premium. If such other party shall not
elect to pay such additional premium, then the first party shall not be required to obtain such
waiver of subrogation or consent to waiver. Tenant acknowledges that Landlord shall not carry
insurance on, and shall not be responsible for, (a)

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damage to any Specialty Alterations, (b)
Tenant’s Property, and (c) any loss suffered by Tenant due to interruption of Tenant’s business.

     12.3 Landlord’s Insurance. Landlord shall carry such insurance as may be required by
any Lessor or Mortgagee. If at any time there is no Mortgage or Superior Lease, then Landlord
shall carry such insurance as would reasonably be expected to be carried by the owner of a
first-class office building in midtown Manhattan. If at any time Landlord is an Institutional
Owner, Landlord may self-insure all or any portion of such insurance. “Institutional Owner”
is a bank or trust company, a savings bank, a savings and loan association, an insurance company, a
college or university, a governmental pension or retirement fund or a pension trust of a
publicly-held corporation.

ARTICLE 13

DESTRUCTION — FIRE OR OTHER CAUSE

     Section 13.1 Restoration. If the Premises are damaged by fire or other casualty, or
if the Building is damaged such that Tenant is deprived of reasonable access to the Premises,
Tenant shall give prompt notice to Landlord, and the damage shall be repaired by Landlord, at its
expense, to substantially the condition of the Premises prior to the damage, subject to the
provisions of any Mortgage or Superior Lease, but Landlord shall have no obligation to repair or
restore (a) Tenant’s Property or (b) any Specialty Alterations. Until such time as the restoration
of the Premises is Substantially Completed or would have been Substantially Completed but for
Tenant Delay, Fixed Rent, Tenant’s Tax Payment and Tenant’s Operating Payment shall be reduced in
the proportion by which the area of the part of the Premises (excluding any portion thereof used
principally for storage) which is not usable (or accessible) and is not used by Tenant bears to the
total area of the Premises (excluding any such portion).

     Section 13.2 Landlord’s Termination Right. Notwithstanding anything to the contrary
contained in Section 13.1, if the Premises are totally damaged or are rendered wholly
untenantable, or if the Building is so damaged that in Landlord’s opinion, substantial alteration,
demolition, or reconstruction of the Building is required (whether or not the Premises are so
damaged or rendered untenantable), then in either of such events, Landlord may, not later than 60
days following the date of the damage, give Tenant a notice terminating this Lease, provided that
if the Premises are not damaged, Landlord may not terminate this Lease unless Landlord similarly
terminates the leases of other office tenants in the Building aggregating at least 50% of the
portion of the Building occupied for office purposes immediately prior to such damage. If this
Lease is so terminated, (i) the Term shall expire upon the date set forth in Landlord’s notice,
which shall not be less than 30 days after such notice is given, and Tenant shall vacate the
Premises and surrender the same to Landlord no later than the date set forth in the notice, (ii)
Tenant’s liability for Rent shall cease as of the date of the damage, and (iii) any prepaid Rent
for any period after the date of the damage shall be refunded by Landlord to Tenant.

     Section 13.3 Tenant’s Termination Right. (a) If the Premises are totally damaged and
are thereby rendered wholly untenantable, or if the Building shall be so damaged that Tenant is
deprived of reasonable access to the Premises, and if Landlord elects to restore the Premises,
Landlord shall, within 60 days following the date of the damage, cause a contractor or architect
selected by Landlord to give notice (the “Restoration Notice”) to Tenant of the date by
which

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such contractor or architect estimates the restoration of the Premises shall be Substantially
Completed. If such date, as set forth the Restoration Notice, is more than 12 months from the
date of such damage, then Tenant shall have the right to terminate this Lease by giving notice (the
“Termination Notice”) to Landlord not later than 30 days following Tenant’s receipt of the
Restoration Notice. If Tenant delivers to Landlord a Termination Notice, this Lease shall be deemed
to have terminated as of the date of the giving of the Termination Notice, in the manner set forth
in the second sentence of Section 13.2.

     (b) If Tenant shall not have elected to, or was not entitled to, terminate this Lease in
accordance with Section 13.3(a) and Landlord shall fail to Substantially Complete its
restoration work on or before the later to occur of 12 months after the date of such damage or 60
days after the date upon which Landlord’s contractor estimated such restoration would be completed,
in either case, subject to extension for delays due to Unavoidable Delays, Tenant may elect, as its
sole remedy, to terminate this Lease upon 30 days notice to Landlord given not earlier than the
last day of the period specified above, and if Tenant shall give such a notice this Lease shall
terminate on the 30th day following the giving of such notice unless Landlord shall have
Substantially Completed its reconstruction work by such 30th day. If Landlord shall have
Substantially Completed its restoration work, Tenant’s notice of termination shall be null and void
and this Lease shall remain in full force and effect.

     Section 13.4 Final 18 Months. Notwithstanding anything set forth to the contrary in
this Article 13, in the event that any damage rendering the Premises wholly untenantable
occurs during the final 18 months of the Term (unless Tenant has renewed the term of this Lease
pursuant to Article 37), either Landlord or Tenant may terminate this Lease by notice to
the other party within 30 days after the occurrence of such damage and this Lease shall expire on
the 30th day after the date of such notice. For purposes of this Section 13.4, the Premises
shall be deemed wholly untenantable if due to such damage, Tenant shall be precluded from using
more than 50% of the Premises for the conduct of its business and Tenant’s inability to so use the
Premises is reasonably expected to continue until at least the earlier of the (a) Expiration Date
and (b) the 90th day after the date when such damage occurs.

     Section 13.5 Waiver of Real Property Law § 227. This Article 13 constitutes
an express agreement governing any case of damage or destruction of the Premises or the Building by
fire or other casualty, and Section 227 of the Real Property Law of the State of New York, which
provides for such contingency in the absence of an express agreement, and any other law of like
nature and purpose now or hereafter in force, shall have no application in any such case.

     Section 13.6 Landlord’s Liability. Any Building employee to whom any property shall
be entrusted by or on behalf of Tenant shall be deemed to be acting as Tenant’s agent with respect
to such property and neither Landlord nor any of the Indemnitees shall be liable for any damage to
such property, or for the loss of or damage to any property of Tenant by theft or otherwise. None
of the Indemnitees shall be liable for any injury or damage to persons or property or interruption
of Tenant’s business resulting from fire or other casualty, any damage caused by other tenants or
persons in the Building or by construction of any private, public or quasi-public work, or any
latent defect in the Premises or in the Building (except that Landlord shall be required to repair
the same to the extent provided in Article 7). No penalty shall accrue for delays which may
arise by reason of adjustment of fire insurance on the part of Landlord or Tenant, or Unavoidable
Delays, in connection with any repair or restoration of any portion of the Premises or of the
Building. Landlord shall use reasonable efforts to minimize interference with Tenant’s use and
occupancy of the Premises during the performance of any such repair or

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restoration, provided,
however, that Landlord shall have no obligation to employ contractors or labor at overtime or other
premium pay rates or to incur any other overtime costs or additional
expenses whatsoever. Nothing in this Section 13.6 shall affect any right of Landlord to be
indemnified by Tenant under Article 32 for payments made to compensate for losses of third
parties.

     Section 13.7 Windows. If at any time any windows of the Premises are temporarily
closed, darkened or covered over by reason of repairs, maintenance, alterations or improvements to
the Building, or any of such windows are permanently closed, darkened or covered over due to any
Requirement, Landlord shall not be liable for any damage Tenant may sustain and Tenant shall not be
entitled to any compensation or abatement of any Rent, nor shall the same release Tenant from its
obligations hereunder or constitute an actual or constructive eviction.

ARTICLE 14

EMINENT DOMAIN

     Section 14.1 (a) Total Taking. If all or substantially all of the Premises, the
Building or the Real Property shall be acquired or condemned for any public or quasi-public
purpose, this Lease shall terminate and the Term shall end as of the date of the vesting of title,
with the same effect as if such date were the Expiration Date, and Rent shall be prorated and
adjusted as of such date.

          (b) Partial Taking. If only a part of the Premises, the Building or the Real
Property shall be acquired or condemned, this Lease and the Term shall continue in full force and
effect, provided that from and after the date of the vesting of title, the Fixed Rent, Tenant’s Tax
Payment, Tenant’s Operating Payment and Tenant’s Proportionate Share shall be modified to reflect
the reduction of the Premises and/or the Building as a result of such acquisition or condemnation.

          (c) Landlord’s Termination Right. Whether or not the Premises are affected, Landlord
may give to Tenant, within 60 days following the date upon which Landlord receives notice that all
or a portion of the Building or the Real Property has been acquired or condemned, a notice of
termination of this Lease, provided that Landlord elects to terminate leases (including this Lease)
affecting at least 50% of the portion of the Building occupied for office purposes immediately
prior to such acquisition or condemnation (excluding any rentable area leased by Landlord or its
Affiliates) located in the elevator bank servicing the Premises.

          (d) Tenant’s Termination Right. If the part of the Building or the Real Property so
acquired or condemned contains more than 15% of the total area of the Premises immediately prior to
such acquisition or condemnation, or if, by reason of such acquisition or condemnation, Tenant no
longer has reasonable means of access to the Premises or is no longer able to operate its business
in the Premises in substantially the same manner as Tenant operated its business in the Premises
prior to such acquisition or condemnation, Tenant may terminate this Lease by notice to Landlord
given within 60 days following the date upon which Tenant received notice of such acquisition or
condemnation. If Tenant so notifies Landlord, this Lease shall terminate and the Term shall end
and expire upon the date set forth in the notice,

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which date shall not be more than 30 days
following the giving of such notice. If a part of the Premises shall be so acquired or condemned
and this Lease and the Term shall not be
terminated in accordance with this Section 14.1 Landlord, at Landlord’s expense, but
without requiring Landlord to spend more than it collects as an award, shall, subject to the
provisions of any Mortgage or Superior Lease, restore that part of the Premises not so acquired or
condemned to a self-contained rental unit substantially equivalent (with respect to character,
quality, appearance and services) to that which existed immediately prior to such acquisition or
condemnation, excluding Tenant’s Property and/or Specialty Alterations.

          (e) Apportionment of Rent. Upon any termination of this Lease pursuant to the
provisions of this Article 14, Fixed Rent and payments for Taxes and Operating Expenses
shall be apportioned as of, and shall be paid or refunded up to and including, the date of such
termination.

          (f) Applicability. The provisions of Sections 14.1 and 14.2 shall
not apply to any acquisition or condemnation of all or any part of the Premises for a period of 18
months or less.

     Section 14.2 Awards. Upon any acquisition or condemnation of all or any part of the
Real Property, Landlord shall receive the entire award for any such acquisition or condemnation,
and Tenant shall have no claim against Landlord or the condemning authority for the value of any
unexpired portion of the Term, Tenant’s Alterations or improvements; and Tenant hereby assigns to
Landlord all of its right in and to such award. Nothing contained in this Article 14 shall
be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the
then value of any Tenant’s Property or Specialty Alteration included in such taking and for any
moving expenses, provided any such award is in addition to, and does not result in a reduction of,
the award made to Landlord.

     Section 14.3 Temporary Taking. Notwithstanding the provisions of Section
14.1, if all or any part of the Premises is acquired or condemned temporarily for a period of
18 months or less during the Term for any public or quasi-public use or purpose, Tenant shall give
prompt notice to Landlord and the Term shall not be reduced or affected in any way and Tenant shall
continue to pay all Rent payable by Tenant without reduction or abatement and to perform all of its
other obligations under this Lease, except to the extent prevented from doing so by the condemning
authority, and Tenant shall be entitled to receive any award or payment from the condemning
authority for such use, which award shall be received, held and applied by Tenant as a trust fund
for payment of the Rent falling due, provided that if the acquisition or condemnation is for a
period extending beyond the Term, such award shall be apportioned between Landlord and Tenant and
Landlord shall receive the portion of such award relating to the period after the Term. If the
acquisition or condemnation of all or any part of the Premises is for a period of more than 18
months, the provisions of Sections 14.1 and 14.2 shall apply.

ARTICLE 15

ASSIGNMENT AND SUBLETTING

     Section 15.1 (a) No Assignment or Subletting. Except as expressly set forth herein,
Tenant shall not assign, mortgage, pledge, encumber, or otherwise transfer this Lease, whether

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by operation of law or otherwise, and shall not sublet (or underlet), or permit, or suffer the
Premises or any part thereof to be used or occupied by others (whether for desk space, mailing
privileges or otherwise), without Landlord’s prior consent in each instance. Any assignment,
sublease, mortgage, pledge, encumbrance or transfer in contravention of the provisions of this
Article 15 shall be void.

          (b) Collection of Rent. If, without Landlord’s consent, this Lease is assigned, or
any part of the Premises is sublet or occupied by anyone other than Tenant or this Lease or the
Premises or any of Tenant’s Property is encumbered (by operation of law or otherwise), Landlord may
collect rent from the assignee, subtenant or occupant, and apply the net amount collected to the
Rent herein reserved. No such collection of rent shall be deemed to be (i) a waiver of the
provisions of this Article 15, (ii) an acceptance of the assignee, subtenant or occupant as
tenant, or (iii) a release of Tenant from the performance of Tenant’s covenants hereunder. Tenant
shall remain fully liable for the obligations under this Lease.

          (c) Further Assignment/Subletting. Landlord’s consent to any assignment or
subletting shall not relieve Tenant from the obligation to obtain Landlord’s express consent to any
further assignment or subletting. In no event shall any permitted subtenant assign or encumber its
sublease or further sublet any portion of its sublet space, or otherwise suffer or permit any
portion of the sublet space to be used or occupied by others without Landlord’s consent, which
consent, with respect to one further subletting by the subtenant, shall be granted or withheld by
Landlord in accordance with the requirements of this Article.

          (d) No Recapture. Notwithstanding any provision contained in this Article 15
to the contrary, the Named Tenant shall have the right to sublet one or more portions of the 17th
Floor Premises for a term not exceeding six years (including any extensions thereof) from the 17th
Floor Premises Commencement Date (as hereinafter defined), which sublease(s) shall not be subject
to Landlord’s right to terminate this Lease in respect of such space pursuant to Sections
15.3 or the provisions of Sections 15.5(a)(C) and (D) and Section 15.8
but shall be subject to the other provisions of this Article, including Sections 15.4 and
15.5 (except as provided above).

     Section 15.2 Tenant’s Notice. If Tenant desires to assign this Lease or sublet all
or any portion of the Premises, Tenant shall give notice thereof to Landlord, which shall be
accompanied by (i) with respect to an assignment of this Lease, the date Tenant desires the
assignment to be effective, and (ii) with respect to a sublet of all or a part of the Premises, (A)
the material business terms on which Tenant would sublet such premises, and (B) a description of
the portion of the Premises to be sublet. Such notice shall be deemed an irrevocable offer from
Tenant to Landlord whereby Landlord (or Landlord’s designee) shall be granted the right, at
Landlord’s option, (1) to terminate this Lease with respect to such space as Tenant proposes to
sublease, provided the term of the proposed sublease expires less than 18 months before the
Expiration Date, upon the terms and conditions hereinafter set forth, or (2) if the proposed
transaction is an assignment of this Lease or a subletting of 75% or more of the rentable square
footage of the Premises expiring less than 18 months before the Expiration Date, to terminate this
Lease with respect to the entire Premises. Such option may be exercised by notice from Landlord to
Tenant within 30 days after Landlord’s receipt of Tenant’s notice.

     Section 15.3 Landlord’s Termination. If Landlord exercises its option to terminate
all or a portion of this Lease pursuant to Section 15.2: (a) this Lease shall end and
expire with respect to all or a portion of the Premises, as the case may be, on the date that such
assignment or sublease was to commence or, in the absence of such date, a date designated by
Landlord, (b) Fixed Rent and Tenant’s payments for Taxes and Operating Expenses shall be

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apportioned, paid or refunded as of such date, (c) Tenant, upon Landlord’s request, shall enter
into an amendment of this Lease ratifying and confirming such total or partial termination, and
setting forth any appropriate modifications to the terms and provisions hereof, (d) Landlord shall
be free to lease the Premises (or any part thereof) to Tenant’s prospective assignee or subtenant
and (e) if this Lease shall end with respect to a portion of the Premises, Tenant shall, at
Tenant’s sole cost and expense, separately demise such portion of the Premises, and make available
all utility services so as to make such portion of the Premises a self-contained rental unit
satisfactory in all respects to Landlord and in compliance with all Requirements.

     Section 15.4 (a) Landlord’s Leaseback. If Landlord receives a notice from Tenant as
described in Section 15.2, Landlord or its designee may, at its option, in lieu of
exercising the option to terminate described in Section 15.2, sublease from Tenant the
space described in Tenant’s notice (or, if the space described in Tenant’s notice constitutes 75
percent or more of the rentable square footage contained in the Premises, Landlord may sublease
from Tenant the entire Premises) (such space being hereafter referred to as the “Leaseback
Space”). If Landlord exercises its option to sublet the Leaseback Space, such sublease to
Landlord or its designee (as subtenant) shall be at a rental rate equal to the product of the
lesser of (A) the rent per rentable square foot (including Fixed Rent and Additional Rent) then
payable pursuant to this Lease, and (B) the rent per rentable square foot set forth in the proposed
sublease, multiplied by the rentable square foot area of the Leaseback Space; shall be for
the same term as that of the proposed subletting; and shall:

          (i) be expressly subject to all of the covenants, terms and conditions of this Lease
except such as are irrelevant or inapplicable, and except as expressly set forth in this
Article 15 to the contrary;

          (ii) give the subtenant the unqualified and unrestricted right, without Tenant’s
consent, to assign such sublease or any interest therein and/or to sublet all or any portion
of the space covered by such sublease and to make alterations and improvements in the space
covered by such sublease, and if the proposed sublease will result in all or substantially
all of the Premises being sublet, grant Landlord or its designee the option to extend the
term of such sublease for the balance of the Term of this Lease less one day;

          (iii) provide that any assignee or further subtenant of Landlord or its designee, may,
at Landlord’s option, be permitted to make alterations and decorations in such space and
that any or all of such alterations, decorations and installations may be removed by such
assignee or subtenant, at its option, prior to or upon the expiration or other termination
of such sublease, provided that such assignee or subtenant shall, at its expense, repair any
damage caused by such removal; and

          (iv) provide that (A) the parties to such sublease expressly negate any intention that
the sublease estate be merged with any other estate held by either of such parties, (B) any
assignment or sublease by Landlord or its designee (as the subtenant) may be for any purpose
or purposes that Landlord, in its sole discretion, shall deem appropriate, (C) Tenant shall,
at its sole cost and expense, at all times provide and permit reasonably appropriate means
of ingress to and egress from such space so sublet by Tenant to Landlord or its designee,
(D) Landlord may, at Tenant’s expense, make such alterations as may be required or deemed
necessary by Landlord to physically separate the Leaseback Space from the balance of the
Premises and to comply with any Requirements or insurance requirements relating to such
separation,

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and (E) at the expiration of the term of such sublease, Tenant will accept the
Leaseback Space in its then existing condition, subject to the obligations of the subtenant
to make
such repairs as may be necessary to preserve such premises in good order and condition.

          (b) Obligations Re: Leaseback Space. If Landlord exercises its option to sublet the
Leaseback Space:

          (i) Performance by Landlord, or its designee, under a sublease of the Leaseback Space
shall be deemed performance by Tenant of any similar obligation under this Lease and Tenant
shall not be liable for any default under this Lease or deemed to be in default hereunder if
such default is occasioned by or arises from any act or omission of the subtenant pursuant
such sublease or any subsubtenant or assignee thereof and Tenant shall in no event be
responsible for (under any indemnification provision of this Lease or otherwise) any loss,
damage, liability or claim to the extent arising from any acts or omissions of any such
subtenant, subsubtenant or assignee; or

          (ii) Tenant shall have no obligation, at the expiration or earlier termination of the
Term, to remove any alteration, installation or improvement made in the Leaseback Space by
Landlord (or Landlord’s designee or subtenant or assignee); and

          (iii) Any consent required of Tenant, as Landlord under the sublease, shall be deemed
granted if consent with respect thereto is granted by Landlord under this Lease, and any
failure of Landlord (or its designee) to comply with the provisions of the sublease other
than with respect to the payment of Rent shall not constitute a default thereunder or
hereunder if Landlord shall have consented to such non-compliance.

     Section 15.5 Conditions to Assignment/Subletting. (a) If Landlord does not exercise
any of Landlord’s options provided under Sections 15.2 and 15.4, and provided that no Event
of Default then exists, Landlord’s consent to the proposed assignment or subletting shall not be
unreasonably withheld or delayed. Such consent shall be granted or denied, as the case may be,
within 30 days after Landlord’s receipt of the following (and such consent shall be deemed granted
if Landlord fails to respond to a request for consent containing the required information and such
failure to respond continues for more than 5 Business Days after receipt of a second notice to
Landlord, which second notice may not be given prior to the 30th day after delivery by Tenant to
Landlord of the initial notice requesting consent; any denial to be accompanied by a statement
setting forth in reasonable detail the reasons for such denial) (i) a true and complete statement
reasonably detailing the identity of the proposed assignee or subtenant, the nature of its business
and its proposed use of the Premises, (ii) current financial information with respect to the
proposed assignee or subtenant, including its most recent financial statements or if the proposed
subtenant does not have financial statements, then tax returns or other current financial
information reasonably satisfactory to Landlord, and (iii) any other information Landlord may
reasonably request (it being acknowledged that all of such information described in clauses (i),
(ii) and (iii) above may be delivered concurrently with Tenant’s notice pursuant to Section
15.2), provided that:

          (A) in Landlord’s reasonable judgment, the proposed assignee or subtenant is engaged
in a business or activity, and the Premises will be used in a manner, which (1) is in
keeping with the then standards of the Building, (2) limits the use of the Premises to
general and executive offices and ancillary uses permitted hereunder,

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and (3) does not
violate any restrictions set forth in this Lease, any Mortgage or Superior
Lease or any negative covenant as to use of the Premises required by any other lease in the
Building;

          (B) the proposed assignee or subtenant is a reputable Person or entity of good
character with sufficient financial means to perform all of its obligations under this Lease
or (taking into account that the Named Tenant is the sublessor) the sublease, as the case
may be, and Landlord has been furnished with reasonable proof thereof, and Landlord or any
Affiliate of Landlord is not litigating against or has been threatened with litigation by
such proposed assignee of subtenant or its Affiliates within the prior 12 months;

          (C) if Landlord has, or reasonably expects to have within six months thereafter,
comparable space (taking into account the size of the space and the available term thereof)
available in the Building, neither the proposed assignee or subtenant nor any Affiliate of
the proposed assignee or subtenant is then an occupant of the Building;

          (D) if Landlord has, or reasonably expects to have within six months thereafter,
comparable space (taking into account the size of the space and the available term thereof)
available in the Building, the proposed assignee or subtenant is not a Person or entity (or
Affiliate of a Person or entity) with whom Landlord or Landlord’s Agent is then, or has been
within the prior six months, negotiating in connection with the rental of space in the
Building;

          (E) there shall be not more than 2 occupants on any floor of the Premises;

          (F) Tenant shall, upon demand, reimburse Landlord for all reasonable out-of-pocket
expenses incurred by Landlord in connection with such assignment or sublease, including any
investigations as to the acceptability of the proposed assignee or subtenant, reviewing any
plans and specifications for Alterations proposed to be made in connection therewith, and
all reasonable legal costs reasonably incurred in connection with the granting of any
requested consent;

          (G) Tenant has not and shall not (A) publicize the availability of the Premises, or
(B) list the Premises to be sublet or assigned with a broker, agent or other entity or
otherwise offer the Premises, in both cases, for subletting at a rental rate of less than
the aggregate fixed rent and additional rent at which Landlord is then leasing other space
in the Building;

          (H) if the proposed subtenant or assignee is an entity organized under the laws of any
jurisdiction other than the United States or any state thereof, or is not a United States
citizen, if an individual, such Person shall waive any immunity to which it may entitled,
and shall be subject to the service of process in, and the jurisdiction of the courts of,
the City and State of New York; and

          (I) in Landlord’s reasonable judgment, the proposed assignee or subtenant shall not be
of a type or character, or engaged in a business or activity, or owned or controlled by or
identified with any entity, which may result in protests or civil disorders or commotions
at, or other disruptions of the normal business activities in, the Building.

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          (b) With respect to each and every subletting and/or assignment authorized by Landlord under
the provisions of this Lease, it is further agreed that:

          (i) the form of the proposed assignment or sublease shall be reasonably satisfactory
to Landlord and shall comply with the provisions of this Article;

          (ii) no sublease shall be for a term ending later than one day prior to the Expiration
Date of this Lease;

          (iii) no sublease shall be delivered to any subtenant, and no subtenant shall take
possession of any part of the Premises, until an executed counterpart of such sublease has
been delivered to Landlord and approved by Landlord as provided in Section 15.5(a);

          (iv) if an Event of Default shall occur at any time prior to the effective date of such
assignment or subletting, then, until such Event of Default is no longer continuing,
Landlord’s consent thereto, if previously granted, shall be immediately deemed revoked
without further notice to Tenant, and if such assignment or subletting would have been
permitted without Landlord’s consent pursuant to Section 15.9, such permission shall
be void and without force and effect, and in either such case, any such assignment or
subletting shall constitute a further Event of Default hereunder; and

          (v) subject to the terms of Section 15.15, each sublease shall be subject and
subordinate to this Lease and to the matters to which this Lease is or shall be subordinate,
it being the intention of Landlord and Tenant that Tenant shall assume and be liable to
Landlord for any and all acts and omissions of all subtenants and anyone claiming under or
through any subtenants which, if performed or omitted by Tenant, would be a default under
this Lease; and Tenant and each subtenant shall be deemed to have agreed that upon the
occurrence and during the continuation of an Event of Default hereunder, Tenant has hereby
assigned to Landlord, and Landlord may, at its option, accept such assignment of, all right,
title and interest of Tenant as sublandlord under such sublease, together with all
modifications, extensions and renewals thereof then in effect, and such subtenant shall, at
Landlord’s option and upon notice from Landlord, attorn to Landlord pursuant to the then
executory provisions of this Lease other than the monetary terms of this Lease, which
monetary terms shall be governed by the terms of such sublease, except that Landlord shall
not be (A) liable for any previous act or omission of Tenant under such sublease, (B)
subject to any counterclaim, offset or defense, which theretofore accrued to such subtenant
against Tenant, (C) bound by any previous modification of such sublease not consented to by
Landlord, or by any prepayment of more than one month’s rent and additional rent under such
sublease, (D) bound to return such subtenant’s security deposit, if any, except to the
extent that Landlord shall receive actual possession of such deposit and such subtenant
shall be entitled to the return of all or any portion of such deposit under the terms of its
sublease, or (E) obligated to make any payment to or on behalf of such subtenant, or to
perform any work in the subleased space or the Building, or in any way to prepare the
subleased space for occupancy, beyond Landlord’s obligations under this Lease. The
provisions of this Section 15.5(b)(v) shall be self-operative, and no further
instrument shall be required to give effect to this provision, provided that the subtenant
shall execute and deliver to Landlord any instruments Landlord may reasonably request to
evidence and confirm such subordination and attornment.

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     Section 15.6 Binding on Tenant; Indemnification of Landlord. Notwithstanding any
assignment or subletting or any acceptance of Rent by Landlord from any assignee or subtenant,
Tenant shall remain fully liable for the payment of all Rent due and for the performance of all
other terms, covenants and conditions contained in this Lease on Tenant’s part to be observed and
performed, and any default under any term, covenant or condition of this Lease by any subtenant or
assignee or anyone claiming under or through any subtenant or assignee shall be deemed to be a
default under this Lease by Tenant. Tenant shall indemnify, defend, protect and hold harmless
Landlord from and against any and all Losses (as defined in Section 32.1(b)) resulting from
any claims that may be made against Landlord by the proposed assignee or subtenant or anyone
claiming under or through any subtenant (other than any subtenancy resulting from a leaseback
contemplated by Section 15.4) or by any brokers or other Persons claiming a commission or
similar compensation in connection with the proposed assignment or sublease, irrespective of
whether Landlord shall give or decline to give its consent to any proposed assignment or sublease,
or if Landlord shall exercise any of its options under this Article 15.

     Section 15.7 Tenant’s Failure to Complete. If Landlord consents to a proposed
assignment or sublease and Tenant fails to execute and deliver to Landlord such assignment or
sublease within 90 days after the giving of such consent or the economic terms of such sublease or
assignment in the aggregate are less than 92.5% of the value of the economic terms proposed to
Landlord pursuant to Section 15.2, then Tenant shall again comply with all of the
provisions and conditions of Sections 15.2, 15.4 and 15.5 hereof before assigning
this Lease or subletting all or part of the Premises.

     Section 15.8 Profits. If Tenant shall enter into any assignment or sublease permitted
hereunder or consented to by Landlord, Tenant shall, within 60 days of Landlord’s consent to such
assignment or sublease, deliver to Landlord a complete list of Tenant’s reasonable third-party
brokerage fees, legal fees and architectural fees, work allowances or costs of improvements
performed by Tenant in connection with such assignment or sublease and reasonable rent concessions
(“Tenant’s Expenses”) paid or to be paid in connection with such transaction, together with
a list of all of Tenant’s Property to be transferred to such assignee or sublessee. Tenant shall
deliver to Landlord evidence of the payment of such fees promptly after the same are paid. In
consideration of such assignment or subletting, Tenant shall pay to Landlord:

          (a) In the case of an assignment, on the effective date of the assignment, an amount equal to
50% of all sums and other consideration paid to Tenant by the assignee for or by reason of such
assignment (including sums paid for the sale or rental of Tenant’s Property, less, in the case of a
sale thereof, the then fair market value thereof, as reasonably determined by Landlord) after first
deducting Tenant’s Expenses in connection with such transaction; or

          (b) In the case of a sublease, 50% of any consideration payable under the sublease to Tenant
by the subtenant which exceeds on a per square foot basis the Fixed Rent and Additional Rent
accruing during the term of the sublease in respect of the subleased space (together with any sums
paid for the sale or rental of Tenant’s Property, less, in the case of the sale thereof, the then
fair market value thereof, as reasonably determined by Landlord) after first deducting therefrom
Tenant’s Expenses in connection with such transaction (e.g., if (x) Tenant’s Fixed Rent under this
Lease is $100 per annum for the area subleased, (y) Tenant is receiving as fixed rent $110 per
annum under the sublease in question and (z) Tenant has incurred Tenant Expenses of $30 in
connection with the sublease, then Tenant would not owe Landlord

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any portion of its profit for the
first 3 years of the sublease until Tenant had recouped the $30),
and if such sublease is less than the entire Premises, the actual cost incurred by Tenant in
separately demising the subleased space. The sums payable under this clause shall be paid by
Tenant to Landlord as and when paid by the subtenant to Tenant.

     Section 15.9 (a) Transfers. If Tenant is a corporation, the transfer by one or more
transfers, directly or indirectly, by operation of law or otherwise, of a majority of the stock of
Tenant shall be deemed a voluntary assignment of this Lease; provided, however, that the provisions
of this Article 15 shall not apply to the transfer of shares of stock of Tenant if and so
long as Tenant is publicly traded on a nationally recognized stock exchange or pursuant to a tender
offer under the Securities Exchange Act of 1934. For purposes of this Section 15.9 the term
“transfers” shall be deemed to include the issuance of new stock or of treasury stock which results
in a majority of the stock of Tenant being held by a Person or Persons that do not hold a majority
of the stock of Tenant on the date hereof. If Tenant is a partnership, the transfer by one or more
transfers, directly or indirectly, by operation of law or otherwise, of a majority interest in the
partnership shall be deemed a voluntary assignment of this Lease. If Tenant is a limited liability
company, trust, or any other legal entity (including a corporation or a partnership), the transfer
by one or more transfers, directly or indirectly, of Control of such entity, however characterized,
shall be deemed a voluntary assignment of this Lease. Notwithstanding anything herein to the
contrary, the provisions of Sections 15.1 15.2, 15.5(a) and 15.8
shall not apply to transactions with an entity into or with which Tenant is merged or
consolidated or to which substantially all of Tenant’s assets or stock are transferred, or to
transactions resulting in other transfers or issuances of direct or indirect interests in Tenant,
so long as (i) such transfer was made for a legitimate independent business purpose and not
primarily for the purpose of transferring this Lease and Tenant continues to operate its business
in the Premises after such transfer, (ii) except in the case of a transfer or issuance of stock or
other direct or indirect interests in Tenant, the successor to Tenant has a net worth computed in
accordance with generally accepted accounting principles at least equal to the net worth of the
original Tenant on the date of this Lease or immediately preceding such transfer, and (iii) proof
satisfactory to Landlord of such net worth is delivered to Landlord at least 10 days after the
effective date of any such transaction. Tenant may also, upon prior notice to and without the
consent of Landlord, (A) permit any Person which Controls, is Controlled by, or is under common
Control with the original Tenant named herein (a “Related Entity”) to sublet all or part of
the Premises for any Permitted Use for so long as such Person remains a Related Entity or (B)
assign this Lease to a Related Entity, provided, in either case, the Related Entity is in
Landlord’s reasonable judgment of a character and engaged in a business which is in keeping with
the standards for the Building and the occupancy thereof. Such sublease shall not be deemed to
vest in any such Related Entity any right or interest in this Lease or the Premises nor shall such
sublease or assignment relieve, release, impair or discharge any of Tenant’s obligations hereunder.
The provisions of Sections 15.1, 15.2, 15.5(a) and 15.8 shall not apply to any
such sublease or assignment.

          (b) Applicability. The limitations set forth in this Section 15.9 shall
apply to subtenant(s), assignee(s) and guarantor(s) of this Lease, if any, and any transfer by any
such entity in violation of this Section 15.9 shall be a transfer in violation of
Section 15.1.

          (c) Modifications, Takeover Agreements. Any modification, amendment or extension of
a sublease and/or any other agreement by which a landlord (or its affiliate) of a building other
than the Building agrees to assume or perform the obligations of Tenant under this Lease shall be
deemed a sublease for the purposes of Section 15.1 hereof.

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     Section 15.10 Assumption of Obligations. Any assignment or transfer, whether made
with Landlord’s consent or without Landlord’s consent, if and to the extent permitted hereunder,
shall not be effective unless and until the assignee executes, acknowledges and delivers to
Landlord (a) an agreement in form and substance satisfactory to Landlord whereby the assignee (i)
assumes Tenant’s obligations under this Lease and (ii) agrees that, notwithstanding such assignment
or transfer, the provisions of Section 15.1 hereof shall be binding upon it in respect of
all future assignments and transfers and (b) certificates or policies of insurance as required
under Article 12.

     Section 15.11 Tenant’s Liability. The joint and several liability of Tenant and any
successors-in-interest of Tenant and the due performance of Tenant’s obligations under this Lease
shall not be discharged, released or impaired by any agreement or stipulation made by Landlord, or
any grantee or assignee of Landlord, extending the time, or modifying any of the terms and
provisions of this Lease, or by any waiver or failure of Landlord, or any grantee or assignee of
Landlord, to enforce any of the terms and provisions of this Lease.

     Section 15.12 Listings in Building Directory. The listing of any name other than
that of Tenant on the doors of the Premises, the Building directory or elsewhere shall not vest any
right or interest in this Lease or in the Premises, nor be deemed to constitute Landlord’s consent
to any assignment or transfer of this Lease or to any sublease of the Premises or to the use or
occupancy thereof by others. Any such listing shall constitute a privilege revocable in Landlord’s
discretion by notice to Tenant.

     Section 15.13 Lease Disaffirmance or Rejection. If at any time after an assignment
by Tenant named herein, this Lease is not affirmed or rejected in any proceeding of the types
described in Sections 18.1(f) and (g) hereof or any similar proceeding, or upon a
termination of this Lease due to any such proceeding, Tenant named herein, upon request of Landlord
given within 30 days after such disaffirmance, rejection or termination (and actual notice thereof
to Landlord in the event of a disaffirmance or rejection or in the event of termination other than
by act of Landlord), shall (a) pay to Landlord all Rent and other charges due and owing by the
assignee to Landlord under this Lease to and including the date of such disaffirmance, rejection or
termination, and (b) as “tenant,” enter into a new lease of the Premises with Landlord for a term
commencing on the effective date of such disaffirmance, rejection or termination and ending on the
Expiration Date, unless sooner terminated in accordance therewith, at the same Rent and upon the
then executory terms, covenants and conditions contained in this Lease, except that (i) the rights
of Tenant named herein under the new lease shall be subject to the possessory rights of any Persons
claiming through or under such assignee or by virtue of any statute or of any order of any court,
(ii) such new lease shall require all defaults existing under this Lease to be cured by Tenant
named herein with due diligence, and (iii) such new lease shall require Tenant named herein to pay
all Rent which, had this Lease not been so disaffirmed, rejected or terminated, would have become
due under the provisions of this Lease after the date of such disaffirmance, rejection or
termination with respect to any period prior thereto. If Tenant named herein defaults in its
obligations to enter into such new lease for a period of 10 days after Landlord’s request, then, in
addition to all other rights and remedies by reason of default, either at law or in equity,
Landlord shall have the same rights and remedies against Tenant named herein as if it had entered
into such new lease and such new lease had thereafter been terminated as of the commencement date
thereof by reason of Tenant’s default thereunder.

     Section 15.14 Permitted Users. (a) Tenant has advised Landlord that one or more
Persons, who are clients of Tenant or with whom Tenant has a substantial continuing business
relationship (each a “Permitted User”) may from time to time be using space in the
Premises.

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Notwithstanding anything to the contrary in this Article 15 each Permitted User shall be
allowed such use, without Landlord’s consent, but upon prior notice to Landlord, upon the following
conditions: (i) Landlord or Tishman Speyer Properties L.P. or its successor shall not be litigating
against such proposed Permitted User within the prior 12 months, (ii) the Permitted User shall not
be entitled, directly or indirectly, to diplomatic or sovereign immunity and shall be subject to
service of process in, and the jurisdiction of the court of, the State of New York, (iii) the total
number of Permitted Users using desk space pursuant to this Section 15.14 shall not exceed
5 at any one time, (iv) the aggregate number of rentable square feet used by all Permitted Users
at any one time shall not exceed 15,000 rentable square feet, and (v) Tenant shall receive no rent,
payment or other consideration in connection with such occupancy in respect of such space other
than nominal rent payments (in no event greater per rentable square foot than the Fixed Rent,
Tenant’s Operating Payment and Tenant’s Tax Payment payable hereunder per rentable square foot) or
other consideration for actual services rendered or provided by or for such occupant.

          (b) With respect to each and every Permitted User, the following shall apply: (i) each
Permitted User shall have no privity of contract with Landlord and therefore shall have no rights
under this Lease, and Landlord shall have no liability or obligation to the Permitted User under
this Lease for any reason whatsoever in connection with such use or occupancy, which use and
occupancy shall be subject and subordinate to this Lease (including, without limitation,
Article 10), (ii) each Permitted User shall use the Premises in conformity with all
applicable provisions of this Lease, including Article 3, and (iii) Tenant shall be liable
for the acts of such Permitted User in the Premises.

     Section 15.15 Subtenant Non-Disturbance Agreements. (a) Within 30 days after request
therefor, Landlord shall execute, acknowledge and deliver (and permit the recordation of) a
non-disturbance agreement in the form attached hereto as Exhibit G to any subtenant of
Tenant which is not a Related Entity, with respect to subleases of two full floors or more of
space in the Premises which have been approved by Landlord, provided that:

          (1) as a condition to Landlord’s agreeing not to disturb such tenancy, the subtenant
under such sublease agrees to pay from and after the time of such attornment the greater of
(x) the Fixed Rent, Tenant’s Tax Payment and Tenant’s Operating Payment and all other
charges payable under this Lease with respect to the portion of the Premises to be sublet
for the remainder of the term of such sublease, and (y) the fixed rent and escalation rent
and all other charges payable under such sublease for the remainder of the term of such
sublease;

          (2) the sublessee attorns to Landlord either upon, at Landlord’s election, (a) all of
the terms and conditions of this Lease (modified to reflect the space covered by the
sublease) or (b) upon all the terms and conditions set forth in such sublease;

          (3) Landlord shall be reimbursed for its reasonable out-of-pocket legal fees in
connection therewith;

          (4) such sublessee is not a Related Entity and (1) shall have a net worth, determined
in accordance with generally accepted accounting principles, consistently applied, of at
least $120 million or (2) shall provide Landlord with a Letter of Credit complying with the
requirements of Article 35 in the face amount of one year of the greater of the
Fixed Rent, Tenant’s Tax Payment and Tenant’s Operating Payment

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payable under the sublease or this Lease with respect to the subleased space, which face
amount shall be subject to increase on each anniversary of the issuance of such Letter of
Credit to reflect any increase in Fixed Rent, Tenant’s Tax Payment and Tenant’s Operating
Payment under the sublease or this Lease, whichever is applicable, with respect to the
subleased space, and such sublessee shall, in either the case of clause (1) or clause (2)
above, otherwise have sufficient financial means to meet the greater of the rental
obligations under the sublease or this Lease with respect to the subleased space as
reasonably determined by Landlord in good faith based on the financial information provided
to Landlord, reasonable adequate proof of which (which must consist of certified financial
statements for the prior 3 years unless such sublessee did not exist for 3 years, in which
case certified financial statements for such lesser number of years but in no event less
than certified financial statements for at least one full year) shall be furnished to
Landlord;

          (5) such sublease has an original term of not less than the lesser of (x) five years or
(y) the then remaining term of the Lease (but in no event less than 2 years); and

          (6) such sublease provides for the demise of either (i) an entire “end floor” (that is,
the then highest or lowest floor of a block of contiguous floors of the Premises as
constituted at the time in question) together with any one or more full floors which are
contiguous to such “end floor”, or (ii) any entire floor together with any one or more full
floors contiguous to such floor which is contiguous to any “end floor” (plus any contiguous
full floor(s)) which is the subject of a sublease with respect to which Landlord previously
gave a non-disturbance and attornment agreement to a subtenant not then in default beyond
any applicable notice and grace period provided in its sublease.

     (b) The obligations of Landlord with respect to any such non-disturbance agreement may
be conditioned upon the existence of any one or more of the following circumstances at the
time of the termination of the Lease:

          (1) any such sublessee shall not be in default in the observance or performance of any
of the covenants of the sublease on the part of such sublessee to be observed or performed
beyond the applicable notice and grace periods provided therein for the curing of such
default; and

          (2) any such sublessee shall have furnished to Landlord a statement, in writing, as to
the circumstances in item (b)(1) above within 30 days after Landlord shall have made written
demand for such statement.

ARTICLE 16

ELECTRICITY

     Section 16.1 Electricity. Landlord shall redistribute or furnish electricity to or
for the use of Tenant in the Premises for the operation of Tenant’s electrical systems and
equipment in the Premises, at a level sufficient to accommodate a demand load of six watts of
electricity per useable square foot of office space in the Premises (exclusive of electricity
required to operate the base-Building HVAC System). Subject to the last sentence of this Section,
Tenant shall pay

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to Landlord, on demand from time to time, but not more than monthly, for its consumption of
electricity at the Premises, as Additional Rent for such service from and after the Commencement
Date, a sum equal to 103% of the product obtained by multiplying (x) the Cost Per Kilowatt Hour, by
(y) the actual number of kilowatt hours of electric current consumed by Tenant in such billing
period. Landlord shall install a meter or meters, at Tenant’s expense, to measure Tenant’s
consumption of electricity in the Premises, which meters shall be maintained by Landlord at
Tenant’s expense. Where more than one meter measures Tenant’s consumption of electricity in the
Premises, the electricity measured by each meter shall be computed and billed separately in
accordance with the provisions set forth above. Bills for such amounts shall be rendered to Tenant
at such times as Landlord may elect. The rate to be paid by Tenant for submetered electricity
shall include any taxes or other charges in connection therewith. If any tax is imposed upon
Landlord’s receipts from the sale or resale of electricity to Tenant, Tenant shall reimburse
Landlord for such tax, if and to the extent permitted by law. For any period during which such
meter or meters are not installed or are not operational in the Premises, the monthly Fixed Rent
shall be increased by an amount equal to the product of (A) $.2916, subject to adjustment for any
increases in electric rates or taxes, and (B) the number of rentable square feet in the Premises
affected. No Building System shall be connected to Tenant’s electric meters. Tenant may at its own
expense retain the manufacturer of the electrical submeters serving the Premises to monitor and
confirm the accuracy of such submeters and may at its own expense repair or replace such submeters.

     Section 16.2 Excess Electricity. Tenant shall at all times comply with the rules and
regulations of the utility company supplying electricity to the Building. Subject to Tenant’s
right to use the electric capacity set forth in Section 16.1, Tenant shall not use any
electrical equipment which, in Landlord’s judgment, would exceed the capacity of the electrical
equipment serving the Premises or interfere with the electrical service to other tenants of the
Building. If Tenant provides Landlord with evidence reasonably satisfactory to Landlord of Tenant’s
need for excess electricity at a level sufficient to accommodate a demand load of up to eight watts
of electricity per useable square foot of office space in the Premises (exclusive of electricity
required to operate the Base Building HVAC System), Landlord shall make such additional electric
capacity available to Tenant. Any costs incurred by Landlord in connection therewith, including
the cost of any additional risers, feeders or other electrical distribution equipment, shall be
paid by Tenant within 10 days after the rendition of a bill therefor. If Tenant fails to utilize
such excess electric capacity for one year or more, Landlord shall have the right at any time to
reduce the electric capacity available to Tenant to the maximum electric capacity previously and
ordinarily used by Tenant but in no event to less than the electric capacity set forth in the first
sentence of Section 16.1. Tenant shall not make or perform, or permit the making or
performance of, any Alterations to wiring installations or other electrical facilities in or
serving the Premises or make any additions to the office equipment or other appliances in the
Premises which utilize electrical energy (other than ordinary small office equipment) without the
prior consent of Landlord, in each instance, and in compliance with this Lease.

     Section 16.3 Service Disruption. Landlord shall not be liable in any way to Tenant
for any failure, defect or interruption of, or change in the supply, character and/or quantity of
electric service furnished to the Premises for any reason except if attributable to the gross
negligence or willful misconduct of Landlord, nor shall there be any allowance to Tenant for a
diminution of rental value other than as expressly provided in Section 11.9, nor shall the
same constitute an actual or constructive eviction of Tenant, in whole or in part, or relieve
Tenant from any of its Lease obligations, and no liability shall arise on the part of Landlord by
reason of inconvenience, annoyance or injury to business whether electricity is provided by public
or private utility or by any electricity generation system owned and operated by Landlord.
Landlord shall use

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reasonable efforts to minimize interference with Tenant’s use and occupancy of the Premises as a
result of any such failure, defect or interruption of, or change in the supply, character and/or
quantity of, electric service, provided that Landlord shall have no obligation to employ
contractors or labor at overtime or other premium pay rates or to incur any other overtime costs or
additional expenses whatsoever.

     Section 16.4 Discontinuance of Service. Landlord reserves the right to discontinue
furnishing electricity to Tenant in the Premises on not less than 60 days notice to Tenant, if
Landlord discontinues furnishing electricity to tenants (including Tenant) leasing an aggregate of
at least 50% of the rentable area of the Building, or is required to do so under applicable
Requirements. If Landlord exercises such right, or is compelled to discontinue furnishing
electricity to Tenant, this Lease shall continue in full force and effect and shall be unaffected
thereby, except that from and after the effective date of such discontinuance, Landlord shall not
be obligated to furnish electricity to Tenant hereunder. If Landlord so discontinues furnishing
electricity, Tenant shall arrange to obtain electricity directly from any utility company or other
electricity provider serving the Premises. Such electricity may be furnished to Tenant by means of
the existing electrical facilities serving the Premises, at no charge by Landlord, to the extent
available, suitable and safe for such purposes. All other equipment which may be required to
obtain electricity of substantially the same quantity, quality and character shall be installed by
Landlord at the sole cost and expense of (a) Landlord, if Landlord voluntarily discontinues such
service, or (b) Tenant, if (i) Landlord is compelled to discontinue such service by the public
utility or pursuant to applicable Requirements or (ii) if such discontinuance arises out of the
acts of omissions of Tenant. Landlord shall not voluntarily discontinue furnishing electricity to
Tenant until Tenant is able to receive electricity directly from the utility company or other
company servicing the Building, unless the utility company or other company is not prepared to
furnish electricity to the Premises on the date required as a result of Tenant’s delay or
negligence in arranging for service or Tenant’s refusal to provide the utility company or other
company with a deposit or other security requested by the utility company or other company or
Tenant’s refusal to take any other action requested by the utility company or other company. If
Landlord discontinues such service, Landlord agrees not to unreasonably withhold its approval of
Tenant’s utility company or other company servicing Tenant.

ARTICLE 17

ACCESS TO PREMISES

     Section 17.1 Landlord’s Access. (a) Subject to the provisions of Section
17.1(b), Tenant shall permit Landlord, Landlord’s agents, utility companies and other service
providers servicing the Building to erect, use and maintain ducts, pipes and conduits in and
through the Premises provided such use does not cause the usable area of the Premises to be reduced
beyond an immaterial amount. Landlord shall promptly repair any damage to the Premises or Tenant’s
Property caused by any work performed pursuant to this Article and Section 7.4. Any pipes,
ducts, or conduits installed in or through the Premises pursuant to this Section 17.1 shall
either be concealed behind, beneath or within then existing partitioning, columns, ceilings or
floors located in the Premises, or completely furred at points immediately adjacent to existing
partitioning columns or ceilings located in the Premises. In no event shall Landlord reduce the
height of the ceilings in the Premises other than to a de minimis extent.

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          (b) Landlord, any Lessor or Mortgagee and any other party designated by Landlord and their
respective agents shall have the right to enter the Premises at all reasonable times, upon
reasonable notice (which notice may be oral) except in the case of emergency, (i) to examine the
Premises, (ii) to show the Premises to prospective purchasers, Mortgagees or Lessors of the
Building and their respective agents and representatives or others, and during the last 24 months
of the Term to prospective lessees of premises in the Building and (iii) to make such repairs,
alterations or additions to the Premises or the Building (A) as Landlord may deem necessary or
appropriate, including the right to modify or change the façade of and the windows in the Building
and to install solar film on the windows, (B) which Landlord may elect to perform following
Tenant’s failure to perform (for 30 days after the giving of notice in the case of repairs of a
non-emergency nature), or (C) to comply with any Requirements, and Landlord shall be allowed to
take all material into the Premises that may be required for the performance of such work without
the same constituting an actual or constructive eviction of Tenant in whole or in part and without
any abatement of Rent, except as expressly provided in Section 11.9. In entering the
Premises pursuant to this Section 17.1, Landlord shall use reasonable efforts to minimize
interference with Tenant’s use and occupancy of the Premises during any such entry. Tenant shall
have the right to have a representative accompany any party entering the Premises pursuant to this
Section 17.1, provided such representative is made available at the time of such entry.

          (c) All parts (except surfaces facing the interior of the Premises) of all walls, windows and
doors bounding the Premises, including exterior Building walls, exterior core corridor walls, and
doors and entrances (other than doors and entrances solely connecting areas within the Premises),
all balconies, terraces (“Terraces”) and roofs adjacent to the Premises (subject to the
terms of Article 43), all space in or adjacent to the Premises used for shafts, stacks,
risers, fan rooms, electrical and communication closets, stairways, mail chutes, conduits and other
mechanical facilities, Building Systems and Building facilities are not part of the Premises, and
(subject to the terms of Article 43) Landlord shall have the use thereof and access thereto
through the Premises for the purposes of Building operation, maintenance, alteration and repair.

          (d) If Tenant requests that Landlord landscape any Terrace, Landlord shall determine whether
to do so in Landlord’s sole discretion. If Landlord determines to do so, Landlord shall submit to
Tenant drawings related thereto (including any alterations or additions to the Building required
thereby) for its approval. If Tenant approves of such drawings, Landlord shall proceed to do all
the work shown on such drawings (including such alterations and additions) (the “Terrace
Work”). Tenant shall reimburse Landlord, within 15 days after demand therefor, for the cost of
preparing such drawings, performing the Terrace Work (plus an administrative charge equal to 10% of
such cost), and the cost to Landlord of maintaining the Terrace Work during the Term. Nothing
contained herein shall be deemed to vest in Tenant any easement, license or privilege with respect
to any use of the Terraces or grant Tenant any right to use or go upon the Terraces. Tenant shall
reimburse Landlord for any damage caused to the Terraces or other parts of the Building as a result
of the Terrace Work and the maintenance thereof other than damage arising from the gross negligence
or willful misconduct of Landlord.

     Section 17.2 Final 12 Months. If, during the last 12 months of the Term, Tenant
removes all or substantially all of Tenant’s Property from the Premises, Landlord may, upon prior
notice (which notice may be oral) and at reasonable hours, renovate and/or redecorate the Premises,
without abatement of any Rent or incurring any liability to Tenant. Such acts shall not be deemed
an actual or constructive eviction and shall have no effect upon this Lease.

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     Section 17.3 Alterations to Building. Landlord has the right at any time to (a)
change the name, number or designation by which the Building is commonly known, or (b) alter the
Building to change the arrangement or location of entrances or passageways, concourses, plazas,
doors and doorways, and corridors, elevators (subject to Article 11), stairs, toilets, or
other public parts of the Building without any such acts constituting an actual or constructive
eviction and without incurring any liability to Tenant, so long as such changes do not deny Tenant
access to the Premises and are in conformance with standards applicable to first-class renovated
office building in midtown Manhattan. Landlord shall use reasonable efforts to minimize
interference with Tenant’s use and occupancy of the Premises during the making of such changes or
alterations, provided that Landlord shall have no obligation to employ contractors or labor at
overtime or other premium pay rates or to incur any other overtime costs or additional expenses
whatsoever.

ARTICLE 18

DEFAULT

     Section 18.1 Tenant’s Defaults. Each of the following events shall be an “Event
of Default” hereunder:

          (a) Tenant fails to pay when due any installment of Fixed Rent or Additional Rent and such
default continues for five Business Days after notice of such default is given to Tenant, except
that if Landlord shall have given two such notices of default in the payment of any Rent in any
twelve month period, Tenant shall not be entitled to any further notice of delinquency in the
payment of any Rent or an extended period in which to make payment until such time as twelve
consecutive months shall have elapsed without Tenant having failed to make any such payment when
due, and the occurrence of any default in the payment of any Rent within such twelve month period
after the giving of two such notices shall constitute an Event of Default; or

          (b) Tenant defaults in the observance or performance of any other term, covenant or condition
of this Lease to be observed or performed by Tenant and such default continues for more than 10
days after notice by Landlord to Tenant of such default; or if such default is of such a nature
that it can be remedied but cannot be completely remedied within 10 days, Tenant fails to commence
to remedy such default within 10 days after such notice or, with respect to any such default,
Tenant, having commenced such remedy within 10 days after such notice, fails to diligently
prosecute to completion all steps necessary to remedy such default or Tenant fails to complete such
remedy within 90 days; or

          (c) Tenant defaults in the observance or performance of any term, covenant or condition on
Tenant’s part to be observed or performed under any other lease with Landlord or Landlord’s
predecessor-in-interest for space in the Building and such default shall continue beyond any grace
period set forth in such other lease for the remedying of such default; or

          (d) Tenant’s interest in this Lease shall devolve upon or pass to any Person, whether by
operation of law or otherwise, except as expressly permitted under Article 15 hereof; or

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          (e) Tenant generally does not, or is unable to, or admits in writing its inability to, pay
its debts as they become due; or

          (f) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a
bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation,
dissolution or similar relief under any present or future federal bankruptcy act or any other
present or future applicable federal, state or other statute or law, or makes an assignment for the
benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee,
receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s
property; or

          (g) if, within 60 days after the commencement of any proceeding against Tenant, whether by
the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement,
composition, readjustment, liquidation, dissolution or similar relief under the present or any
future federal bankruptcy act or any other present or future applicable federal, state or other
statute or law, such proceeding shall not have been dismissed, or if, within 60 days after the
appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or
any part of Tenant’s property, without the consent or acquiescence of Tenant, such appointment
shall not have been vacated or otherwise discharged, or if any lien, execution or attachment or
other similar filing shall be made or issued against Tenant or any of Tenant’s property pursuant to
which the Premises shall be taken or occupied or attempted to be taken or occupied by someone other
than Tenant; or

          (h) if Landlord applies or retains any part of the Letter of Credit, and Tenant fails to
increase the amount of the Letter of Credit by the amount so applied or retained by Landlord, or to
provide Landlord with a replacement Letter of Credit (as defined in Section 35.1), if
applicable, within 5 Business Days after notice by Landlord to Tenant stating the amount applied or
retained.

Upon the occurrence of any one or more of such Events of Default, Landlord may, at its sole option,
give to Tenant three days’ notice of cancellation of this Lease, in which event this Lease and the
Term shall come to an end and expire (whether or not the Term shall have commenced) upon the
expiration of such three day period with the same force and effect as if the date set forth in the
notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises
to Landlord, but Tenant shall remain liable for damages as provided in Article 19 hereof.

     Section 18.2 Tenant’s Liability. If, at any time, (a) Tenant shall be comprised of
two or more persons, (b) Tenant’s obligations under this Lease shall have been guaranteed by any
person other than Tenant, or (c) Tenant’s interest in this Lease shall have been assigned, the word
“Tenant,” as used in Section 18.1 (e), (f) and (g), shall be deemed to mean any one or more
of the Persons primarily or secondarily liable for Tenant’s obligations under this Lease. Any
monies received by Landlord from or on behalf of Tenant during the pendency of any proceeding of
the types referred to in this Article shall be deemed paid as compensation for the use and
occupancy of the Premises and the acceptance of any such compensation by Landlord shall not be
deemed an acceptance of Rent or a waiver on the part of Landlord of any rights under this Lease.

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ARTICLE 19

REMEDIES AND DAMAGES

     Section 19.1 (a) Landlord’s Remedies. If any Event of Default occurs, and this Lease
and the Term terminates as provided in Article 18:

          (i) Surrender of Possession. Tenant shall quit and surrender the Premises to
Landlord, and Landlord and its agents may immediately, or at any time after such Event of
Default, re-enter the Premises or any part thereof, without notice, either by summary
proceedings, or by any other applicable action or proceeding, or by force (to the extent
permitted by law) or otherwise in accordance with applicable legal proceedings (without
being liable to indictment, prosecution or damages therefor), and may repossess the Premises
and dispossess Tenant and any other Persons from the Premises and remove any and all of
their property and effects from the Premises.

          (ii) Landlord’s Reletting. Landlord, at Landlord’s option, may relet all or
any part of the Premises from time to time, either in the name of Landlord or otherwise, to
such tenant or tenants, for any term ending before, on or after the Expiration Date, at such
rental and upon such other conditions (which may include concessions and free rent periods)
as Landlord, in its sole discretion, may determine. Landlord shall have no obligation to and
shall not be liable for refusal or failure to relet or, in the event of any such reletting,
for refusal or failure to collect any rent due upon any such reletting; and no such refusal
or failure shall relieve Tenant of, or otherwise affect, any liability under this Lease.
Landlord, at Landlord’s option, may make such alterations, decorations and other physical
changes in and to the Premises as Landlord, in its sole discretion, considers advisable or
necessary in connection with such reletting or proposed reletting, without relieving Tenant
of any liability under this Lease or otherwise affecting any such liability.

          (b) Tenant’s Waiver. Tenant, on its own behalf and on behalf of all persons claiming
through or under Tenant, including all creditors, hereby waives all rights which Tenant and all
such Persons might otherwise have under any Requirement (i) to the service of any notice of
intention to re-enter or to institute legal proceedings, (ii) to redeem, or to re-enter or
repossess the Premises, or (iii) to restore the operation of this Lease, after (A) Tenant shall
have been dispossessed or ejected by judgment or by warrant of any court or judge, (B) any re-entry
by Landlord, or (C) any expiration or early termination of the term of this Lease, whether such
dispossession, re-entry, expiration or termination shall be by operation of law or pursuant to the
provisions of this Lease. The words “re-enter,” “re-entry” and “re-entered” as used in this Lease
shall not be deemed to be restricted to their technical legal meanings.

          (c) Other Remedies. Upon the breach or threatened breach by Tenant, or any persons
claiming through or under Tenant, of any term, covenant or condition of this Lease, Landlord shall
have the right to enjoin such breach and to invoke any other remedy allowed by law or in equity as
if re-entry, summary proceedings and other special remedies were not provided in this Lease for
such breach. The rights to invoke the remedies set forth above are cumulative and shall not
preclude Landlord from invoking any other remedy allowed at law or in equity.

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     Section 19.2 (a) Landlord’s Damages. If this Lease and the Term expire and come to an
end as provided in Article 18, or by or under any summary proceeding or any other action or
proceeding, or if Landlord shall re-enter the Premises as provided in Section 19.1, then,
in any of such events:

          (i) Tenant shall pay to Landlord all Rent payable under this Lease by Tenant to
Landlord up to the Expiration Date or to the date of re-entry upon the Premises by Landlord,
as the case may be;

          (ii) Landlord shall be entitled to retain all monies, if any, paid by Tenant to
Landlord, whether as prepaid Rent or otherwise, and to draw upon any Letter of Credit or
other security deposited by Tenant hereunder and retain the proceeds thereof, which monies,
to the extent not otherwise applied to amounts due and owing to Landlord, shall be credited
by Landlord against any damages payable by Tenant to Landlord;

          (iii) Tenant shall pay to Landlord, in monthly installments, on the days specified in
this Lease for payment of installments of Fixed Rent, any Deficiency; it being understood
that Landlord shall be entitled to recover the Deficiency from Tenant each month as the same
shall arise, and no suit to collect the amount of the Deficiency for any month, shall
prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar
proceeding; and

          (iv) whether or not Landlord shall have collected any monthly Deficiency, Tenant shall
pay to Landlord, on demand, in lieu of any further Deficiency and as liquidated and agreed
final damages, a sum equal to the amount by which the Rent for the period which otherwise
would have constituted the unexpired portion of the Term (assuming Additional Rent during
such period to be the same as had been payable for the year immediately preceding such
termination or re-entry, increased in each succeeding year by 4% (on a compounded basis))
exceeds the then fair and reasonable rental value of the Premises, for the same period (with
both amounts being discounted to present value at a rate of interest equal to the then Base
Rate) less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant
to the provisions of Section 19.2(a)(iii) for the same period. If, before
presentation of proof of such liquidated damages to any court, commission or tribunal, the
Premises, or any part thereof, shall have been relet by Landlord for the period which
otherwise would have constituted the unexpired portion of the Term, or any part thereof, the
amount of rent reserved upon such reletting shall be deemed, prima facie, to be the
fair and reasonable rental value for the part or the whole of the Premises so relet during
the term of the reletting.

          (b) Reletting. If the Premises, or any part thereof, shall be relet together with
other space in the Building, the rents collected or reserved under any such reletting and the
expenses of any such reletting shall be equitably apportioned for the purposes of this Section
19.2. Tenant shall not be entitled to any rents collected or payable under any reletting,
whether or not such rents exceed the Fixed Rent reserved in this Lease. Nothing contained in
Articles 18 or 19 shall be deemed to limit or preclude the recovery by Landlord from Tenant
of the maximum amount allowed to be obtained as damages under applicable Requirements, or of any
sums or damages to which Landlord may be entitled in addition to the damages set forth in this
Section 19.2.

     Section 19.3 Default Interest; Other Rights of Landlord. Any damages payable under
this Lease and not paid when due shall bear interest at the Interest Rate from the due

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date until paid, and the interest shall be deemed Additional Rent. If Tenant fails to pay any
Additional Rent when due, Landlord, in addition to any other right or remedy, shall have the same
rights and remedies as in the case of a default by Tenant in the payment of Fixed Rent. If Tenant
is in arrears in the payment of Rent, Tenant waives Tenant’s right, if any, to designate the items
against which any payments made by Tenant are to be credited, and Landlord may apply any payments
made by Tenant to any items Landlord sees fit, regardless of any request by Tenant. Landlord
reserves the right, without liability to Tenant and without constituting any claim of constructive
eviction, to suspend furnishing or rendering to Tenant any overtime Building services or labor,
materials or other property or services for which Tenant is obligated to pay a separate charge
under this Lease (excluding electricity and water), in the event that (but only for so long as)
Tenant is in arrears in paying Landlord for such items for more than 10 days after notice from
Landlord to Tenant demanding the payment of such arrears unless Tenant pays for same in advance.

ARTICLE 20

LANDLORD’S RIGHT TO CURE; FEES AND EXPENSES

     If Tenant defaults in the performance of its obligations under this Lease, Landlord, without
thereby waiving such default, may perform such obligation for the account and at the expense of
Tenant: (a) immediately or at any time thereafter, and without notice, in the case of emergency or
in the case the default (i) materially interferes with the use by any other tenant of any space in
the Building, (ii) materially interferes with the efficient operation of the Building, (iii) will
result in a violation of any Requirement, (iv) will result in a cancellation of any insurance
policy maintained by Landlord, or (v) will result in a breach of or default under any Superior
Lease or Mortgage, and (b) in any other case if such default continues after 30 days from the date
Landlord gives notice of Landlord’s intention so to perform the defaulted obligation. All costs
and expenses incurred by Landlord in connection with any such performance by it for the account of
Tenant and all costs and expenses, including reasonable counsel fees and disbursements, incurred by
Landlord in any action or proceeding (including any summary dispossess proceeding) brought by
Landlord to enforce any obligation of Tenant under this Lease and/or right of Landlord in or to the
Premises, shall be paid by Tenant to Landlord on demand, with interest thereon at the Interest Rate
from the date incurred by Landlord. Except as expressly provided to the contrary in this Lease,
all costs and expenses which, pursuant to this Lease (including the Rules and Regulations) are
incurred by Landlord and payable to Landlord by Tenant, and all charges, amounts and sums payable
to Landlord by Tenant for any property, material, labor, utility or other services which, pursuant
to this Lease or at the request and for the account of Tenant, are provided, furnished or rendered
by Landlord, shall become due and payable by Tenant to Landlord within 30 days after receipt of
Landlord’s invoice for same.

ARTICLE 21

NO REPRESENTATIONS BY LANDLORD: LANDLORD’S APPROVAL

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     Section 21.1 No Representations. Except as expressly set forth herein, Landlord and
Landlord’s agents have made no warranties, representations, statements or promises with respect to
(i) the rentable and usable areas of the Premises or the Building, (ii) the amount of any current
or future Operating Expenses or Taxes, (iii) the compliance with applicable Requirements of the
Premises or the Building, or (iv) the suitability of the Premises for any particular use or
purpose. No rights, easements or licenses are acquired by Tenant under this Lease by implication
or otherwise. Tenant is entering into this Lease after full investigation and is not relying upon
any statement or representation made by Landlord not embodied in this Lease.

     Section 21.2 Consents; Approvals. All consents or approvals of Landlord may be
granted or withheld in Landlord’s sole discretion unless specifically provided to the contrary in
this Lease.

     Section 21.3 No Money Damages. Wherever in this Lease Landlord’s consent or approval
is required, if Landlord refuses to grant such consent or approval, whether or not Landlord
expressly agreed that such consent or approval would not be unreasonably withheld, Tenant shall not
make, and Tenant hereby waives, any claim for money damages (including any claim by way of set-off,
counterclaim or defense) based upon Tenant’s claim or assertion that Landlord unreasonably withheld
or delayed its consent or approval. Tenant’s sole remedy shall be an action or proceeding to
enforce such provision, by specific performance, injunction or declaratory judgment. In no event
shall Landlord be liable for, and Tenant, on behalf of itself and all other Tenant Parties, hereby
waives any claim for, any indirect, consequential or punitive damages, including loss of profits or
business opportunity, arising under or in connection with this Lease, even if due to the gross
negligence or willful misconduct of Landlord of its agents or employees. Notwithstanding anything
contained in this Section 21.3 to the contrary, Tenant shall have the right to submit to
arbitration in accordance with Article 40 hereof any dispute in respect of whether Landlord
has unreasonably withheld any consent or approval to any Alteration pursuant to Section 5.1
or any assignment or subletting pursuant to Section 15.5 requested by Tenant hereunder
which Landlord agreed not to unreasonably withhold hereunder, and Tenant’s sole remedy in all such
circumstances shall be that, upon the decision of the arbitrator that consent was unreasonably
withheld, the requested consent or approval shall be deemed to have been granted as provided above
without any further proceedings or any action being required.

ARTICLE 22

END OF TERM

     Section 22.1 Expiration. Upon the expiration or other termination of this Lease,
Tenant shall quit and surrender the Premises to Landlord, vacant, broom clean and in good order and
condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of
this Lease excepted, and Tenant shall remove all of Tenant’s Property and Tenant’s Specialty
Alterations as may be required pursuant to Article 5 of this Lease. The foregoing
obligation shall survive the expiration or sooner termination of the Term. If the last day of the
Term or any renewal thereof falls on Saturday or Sunday, this Lease shall expire on the immediately
preceding Business Day.

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     Section 22.2 Holdover Rent. Landlord and Tenant recognize that the damage to Landlord
resulting from any failure by Tenant to timely surrender possession of the Premises may be
substantial, may exceed the amount of the Rent theretofore payable hereunder, and will be
impossible to accurately measure. Tenant therefore agrees that if possession of the Premises is not
surrendered to Landlord on or before the Expiration Date or sooner termination of the Term, in
addition to any other rights or remedies Landlord may have hereunder or at law, Tenant shall (a)
pay to Landlord for each month (or any portion thereof), on a per diem basis, during which Tenant
holds over in the Premises after the Expiration Date or sooner termination of the Term, a sum equal
to the greater of (i) 1.10 times the Fixed Rent plus 1.10 times Tenant’s Tax Payment plus 1.10
times Tenant’s Operating Payment payable under this Lease for the last full calendar month of the
Term in the case of the first month (or any portion thereof) of any holdover, 1.20 times the Fixed
Rent plus 1.20 times Tenant’s Tax Payment plus 1.20 times Tenant’s Operating Payment payable under
this Lease for the last full calendar month of the Term in the case of the second month (or any
portion thereof) of any holdover, 1.30 times the Fixed Rent plus 1.30 times Tenant’s Tax Payment
plus 1.30 times Tenant’s Operating Payment payable under this Lease for the last full calendar
month of the Term in the case of the third month (or any portion thereof) of any holdover, 1.40
times the Fixed Rent plus 1.40 times Tenant’s Tax Payment plus 1.40 times Tenant’s Operating
Payment payable under this Lease for the last full calendar month of the Term in the case of the
fourth month (or any portion thereof) of any holdover, and 1.50 times the Fixed Rent plus 1.50
times Tenant’s Tax Payment plus 1.50 times Tenant’s Operating Payment payable under this Lease for
the last full calendar month of the Term in the case of each month (or any portion thereof)
thereafter and (ii) 1.10 times the fair market rental value of the Premises in the case of the
first month (or any portion thereof) of any holdover (as reasonably determined by Landlord taking
into account the same factors set forth in Section 37.3), 1.20 times the fair market rental
value of the Premises in the case of the second month (or any portion thereof) of any holdover (as
reasonably determined by Landlord) and 1.50 times the fair market rental value of the Premises in
the case of any month (or any portion thereof) thereafter of any holdover (as reasonably determined
by Landlord), (b) if Tenant holds over past 120 days after the Expiration Date or earlier
termination of this Lease, be liable to Landlord for (i) any payment or rent concession which
Landlord may be required to make to any tenant obtained by Landlord for all or any part of the
Premises (a “New Tenant”) in order to induce such New Tenant not to terminate its lease by
reason of the holding-over by Tenant, and (ii) the loss of the benefit of the bargain if any New
Tenant shall terminate its lease by reason of the holding-over by Tenant, and (c) if Tenant holds
over past 120 days after the Expiration Date or earlier termination of this Lease, indemnify
Landlord against all claims for damages by any New Tenant. No holding-over by Tenant, nor the
payment to Landlord of the amounts specified above, shall operate to extend the Term hereof.
Nothing herein contained shall be deemed to permit Tenant to retain possession of the Premises
after the Expiration Date or sooner termination of this Lease, and no acceptance by Landlord of
payments from Tenant after the Expiration Date or sooner termination of the Term shall be deemed to
be other than on account of the amount to be paid by Tenant in accordance with the provisions of
this Article 22. All of Tenant’s obligations under this Article shall survive the
expiration or earlier termination of the Term of this Lease.

     Section 22.3 Waiver of Stay. Tenant expressly waives, for itself and for any Person
claiming through or under Tenant, any rights which Tenant or any such Person may have under the
provisions of Section 2201 of the New York Civil Practice Law and Rules and of any successor law of
like import then in force, in connection with any holdover summary proceedings which Landlord may
institute to enforce the foregoing provisions of this Article 22.

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ARTICLE 23

QUIET ENJOYMENT

          Provided this Lease is in full force and effect and no Event of Default then exists, Tenant
may peaceably and quietly enjoy the Premises without hindrance by Landlord or any person lawfully
claiming through or under Landlord, subject to the terms and conditions of this Lease and to all
Superior Leases and Mortgages.

ARTICLE 24

NO SURRENDER; NO WAIVER

     Section 24.1 No Surrender or Release. No act or thing done by Landlord or Landlord’s
agents or employees during the Term shall be deemed an acceptance of a surrender of the Premises,
and no provision of this Lease shall be deemed to have been waived by Landlord, unless such waiver
is in writing and is signed by Landlord, and any such waiver shall be effective only for the
specific purpose and in the specific instance in which given. If Tenant at any time desires to have
Landlord sublet the Premises for Tenant’s account, Landlord or Landlord’s agents are authorized to
receive Tenant’s keys to the Premises for such purpose without releasing Tenant from any of the
obligations under this Lease, and Tenant hereby relieves Landlord of any liability for loss of or
damage to any of Tenant’s effects in connection with such subletting.

     Section 24.2 No Waiver. The failure of either party to seek redress for violation of,
or to insist upon the strict performance of, any covenant or condition of this Lease, or any of the
Rules and Regulations, shall not be construed as a waiver or relinquishment of the future
performance of such obligations of this Lease or the Rules and Regulations, or of the right to
exercise such election but the same shall continue and remain in full force and effect with respect
to any subsequent breach, act or omission. The receipt by Landlord of any Rent payable pursuant to
this Lease or any other sums with knowledge of the breach of any covenant of this Lease shall not
be deemed a waiver of such breach. No payment by Tenant or receipt by Landlord of a lesser amount
than the monthly Fixed Rent or Additional Rent herein stipulated shall be deemed to be other than a
payment on account of the earliest stipulated Fixed Rent or Additional Rent, or as Landlord may
elect to apply such payment, nor shall any endorsement or acceptance of any check or other payment
in the face of a statement on such check or any letter accompanying such check or payment be deemed
an accord and satisfaction, and Landlord may accept such check or payment without prejudice to
Landlord’s right to recover the balance of such Fixed Rent or Additional Rent or pursue any other
remedy provided in this Lease. The existence of a right of renewal or extension of this Lease, or
the exercise of such right, shall not limit Landlord’s right to terminate this Lease in accordance
with the terms hereof.

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ARTICLE 25

WAIVER OF TRIAL BY JURY

          LANDLORD AND TENANT HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
BROUGHT BY EITHER PARTY AGAINST THE OTHER ON ANY MATTERS IN ANY WAY ARISING OUT OF OR CONNECTED
WITH THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY OF THE
PREMISES, OR THE ENFORCEMENT OF ANY REMEDY UNDER ANY REQUIREMENT. If Landlord commences any
summary proceeding against Tenant, Tenant will not interpose any counterclaim of any nature or
description in any such proceeding (unless failure to impose such counterclaim would preclude
Tenant from asserting in a separate action the claim which is the subject of such counterclaim),
and will not seek to consolidate such proceeding with any other action which may have been or will
be brought in any other court by Tenant.

ARTICLE 26

INABILITY TO PERFORM

          This Lease and the obligation of Tenant to pay Rent and to perform all of the other covenants
and agreements of Tenant hereunder shall not be affected, impaired or excused by any Unavoidable
Delays. Landlord shall use reasonable efforts to promptly notify Tenant of any Unavoidable Delay
which prevents Landlord from fulfilling any of its obligations under this Lease.

ARTICLE 27

NOTICES

          Except as otherwise expressly provided in this Lease, consents, notices, demands, requests,
approval or other communications given under this Lease shall be in writing and shall be deemed
sufficiently given or rendered if delivered by hand (provided a signed receipt is obtained) or if
sent by registered or certified mail (return receipt requested) or by a nationally recognized
overnight delivery service making receipted deliveries, addressed as follows:

     if to Tenant, (a) at Tenant’s address set forth on the first page of this Lease, Attn:
Harold Rodriguez if given prior to Tenant’s taking possession of the Premises, or (b) at the
Building, Attn: Harold Rodriguez if mailed subsequent to Tenant’s taking possession of the
Premises, or

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     if to Landlord, at Landlord’s address set forth on the first page of this Lease, Attn:
Property Manager — 300 Park Avenue, and with copies to (a) 300 Park Avenue, Inc., 45
Rockefeller Plaza, New York, New York 10111, Attn: Chief Financial Officer, (b) Tishman
Speyer Properties L.P., 520 Madison Avenue, New York, New York 10022, Attn: General Counsel,
and (c) any Mortgagee or Lessor which shall have requested copies of notices, by notice
given to Tenant in accordance with the provisions of this Article 27 at the address
designated by such Mortgagee or Lessor;

or to such other address(es) as either Landlord or Tenant or any Mortgagee or Lessor may designate
as its new address(es) for such purpose by notice given to the other in accordance with the
provisions of this Article 27. Any such approval, consent, notice, demand, request or
other communication shall be deemed to have been given on the date of receipted delivery or refusal
to accept delivery as provided in this Article 27 or the date delivery is first attempted
but cannot be made due to a change of address of which no notice was given.

ARTICLE 28

RULES AND REGULATIONS

          Tenant and all Tenant Parties shall observe and comply with the Rules and Regulations, as
supplemented or amended from time to time, provided, that in case of any conflict or inconsistency
between the provisions of this Lease and any of the Rules and Regulations as originally promulgated
or as supplemented or amended from time to time, the provisions of this Lease shall control.
Landlord reserves the right, from time to time, to adopt additional Rules and Regulations and to
amend the Rules and Regulations then in effect. Nothing contained in this Lease shall impose upon
Landlord any obligation to enforce the Rules and Regulations or terms, covenants or conditions in
any other lease against any other Building tenant, and Landlord shall not be liable to Tenant for
violation of the Rules and Regulations by any other tenant, its employees, agents, visitors or
licensees, except that Landlord shall not enforce any Rule or Regulation against Tenant in a
discriminatory fashion. Landlord agrees not to amend or supplement any of the Rules and Regulations
in such a manner as to materially increase Tenant’s obligations, or materially diminish Landlord’s
obligations, under this Lease.

ARTICLE 29

PARTNERSHIP TENANT

     Section 29.1 Partnership Tenant. If Tenant, or a permitted assignee of this Lease
pursuant to Article 15 hereof, is a partnership, or is comprised of two or more Persons,
individually or as partners of a partnership (any such partnership and such Persons are referred to
in this Article as “Partnership Tenant” but excluding any limited liability partnership and
any limited partners thereof), the following shall apply: (a) the liability of each of the general
partners (excluding Persons solely holding interests as limited partners), each of the general
partners in a limited partnership (the “Partners”) shall be joint and several; and (b) no
change in the

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Partners of or other Persons comprising Partnership Tenant resulting from the admission of a new
Partner, or the death, retirement or withdrawal of a Partner shall release Partnership Tenant or
any Partner or former Partner from their obligations under this Lease.

     Section 29.2 Change of Partners. If Tenant is a Partnership Tenant, the admission of
new Partners, the withdrawal (in the ordinary course of business), retirement, death, incompetency
or bankruptcy of any Partner, or the reallocation of partnership interests among the Partners shall
constitute an assignment of this Lease unless Partners holding in the aggregate not less than 80%
of the partnership interests in Partnership Tenant immediately prior to such event remain as
Partners holding not less than 80% of the partnership interests in Partnership Tenant during the
12-month period immediately following such event (i.e., the transfer, by any of the foregoing
means, of more than 20% of the partnership interests in Partnership Tenant in any consecutive
12-month period shall constitute an assignment of this Lease subject to the provisions of
Article 15).

     Section 29.3 Limited Recourse. If the original Tenant named herein and any successor
thereto under Section 15.9 (“Named Tenant”) or any assignee thereof permitted
hereunder is not a Partnership Tenant, Landlord acknowledges and agrees that Landlord shall not
enforce the liability and obligations of Tenant hereunder except against Tenant and Tenant’s assets
and Landlord shall have no right, except as provided in law or equity, to enforce the liability and
obligations of Tenant hereunder against any principal, officer, shareholder, member or manager of
Tenant.

ARTICLE 30

VAULT SPACE

          Notwithstanding anything contained in this Lease or indicated on any sketch, blueprint or
plan, no vaults, vault space or other space outside the boundaries of the Real Property are
included in the Premises. Landlord makes no representation as to the location of the boundaries of
the Real Property. All vaults and vault space and all other space outside the boundaries of the
Real Property which Tenant may be permitted to use or occupy are to be used or occupied under a
revocable license. If any such license shall be revoked, or if the amount of such space shall be
diminished as required by any Governmental Authority or by any public utility company, such
revocation, diminution or requisition shall not (i) constitute an actual or constructive eviction,
in whole or in part, (ii) entitle Tenant to any abatement or diminution of Rent, (iii) relieve
Tenant from any of its obligations under this Lease, or (iv) impose any liability upon Landlord.
Any fee, tax or charge imposed by any Governmental Authority for any such vaults, vault space or
other space occupied by Tenant shall be paid by Tenant.

ARTICLE 31

BROKER

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     Section 31.1 Broker Representations. Landlord has retained Landlord’s Agent as
leasing agent in connection with this Lease and Landlord shall be solely responsible for any fee
that may be payable to Landlord’s Agent pursuant to a separate agreement. Each of Landlord and
Tenant represents and warrants to the other that it has not dealt with any broker in connection
with this Lease other than Landlord’s Agent and the Broker and that to the best of its knowledge
and belief, no other broker, finder or like entity procured or negotiated this Lease or is entitled
to any fee or commission in connection herewith. The execution and delivery of this Lease by each
party shall be conclusive evidence that each party has relied upon the foregoing representations
and warranties.

     Section 31.2 Indemnity. Landlord agrees to pay a commission to the Broker pursuant to
a separate agreement. Tenant shall indemnify, defend, protect and hold Landlord harmless from and
against any and all Losses which Landlord may incur by reason of any claim of or liability to any
broker, finder or like agent (other than Landlord’s Agent and the Broker) arising out of any
dealings claimed to have occurred between Tenant and the claimant in connection with this Lease,
and/or the above representation being false. Landlord shall indemnify, defend, protect and hold
Tenant harmless from and against any and all Losses which Tenant may incur by reason of any claim
of or liability to Landlord’s Agent, Broker and any other broker, finder or like agent arising out
of any dealings claimed to have occurred between Landlord and the claimant in connection with this
Lease, and/or the above representation being false. The provisions of this Article 31 shall
survive the expiration or earlier termination of the Term of this Lease.

ARTICLE 32

INDEMNITY

     Section 32.1 (a) Tenant’s Indemnity. Tenant shall not do or permit to be done any
act or thing upon the Premises or the Building which may subject Landlord to any liability or
responsibility for injury, damages to persons or property or to any liability by reason of any
violation of law or of any Requirement, and shall exercise such control over the Premises as to
fully protect the Indemnitees against any such liability. Tenant shall indemnify, defend, protect
and hold harmless each of the Indemnitees from and against any and all Losses (as defined in
subsection (b) hereof), resulting from any claims (i) against Indemnitees arising from any act,
omission or negligence of any Tenant Party, (ii) except to the extent arising from the negligence
or willful misconduct of Landlord, its agents or employees, against the Indemnitees arising from
any accident, injury or damage whatsoever caused to any person or to the property of any person and
occurring during the Term or during the period of time, if any, prior to the commencement or
following the expiration of the Term that any Tenant Party may have been given access to any
portion of the Premises for the purpose of performing work or otherwise, in or about the Premises,
and (iii) against the Indemnitees resulting from any breach, violation or nonperformance of any
covenant, condition or agreement of this Lease on the part of Tenant to be fulfilled, kept,
observed and performed.

          (b) Indemnity Inclusions. As used in this Lease, the term “Losses” means any
and all losses, liabilities, damages, claims, judgments, fines, suits, demands, costs, interest and
expenses of any kind or nature (including reasonable attorneys’ fees and disbursements) incurred in
connection with any claim, proceeding or judgment and the defense thereof, and

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including all costs of repairing any damage to the Premises or the Building or the appurtenances of
any of the foregoing to which a particular indemnity and hold harmless agreement applies.

          (c) Landlord’s Indemnity. Landlord shall indemnify, defend and hold harmless Tenant,
its direct and indirect partners, officers, shareholders, managers, directors, members, trustees,
beneficiaries, employees, principals, licensees, invitees, servants, agents and representatives
(“Tenant Indemnitees”) from and against all Losses resulting from any claims against (i)
Tenant and Tenant Indemnitees arising from any negligence or willful misconduct of Landlord, any of
its employees or agents and (ii) Tenant and Tenant Indemnitees arising from any accident, injury or
damage whatsoever caused to any person or the property of any person in or about the common or
public areas of the Building (specifically excluding the Premises) to the extent attributable to
the negligence or willful misconduct of Landlord or its agents or employees.

          (d) Limitation. In no event shall Tenant, or any Tenant Indemnitee, be liable for,
and Landlord hereby waives any claim for, any indirect, consequential or punitive damages,
including loss of profits or business opportunity, arising under or in connection with this Lease
other than pursuant to Section 22.2.

     Section 32.2 Defense and Settlement. If any claim, action or proceeding is made or
brought against any indemnified party, then upon demand by the indemnified party, the indemnifying
party, at its sole cost and expense, shall resist or defend such claim, action or proceeding in the
indemnified party’s name (if necessary), by attorneys approved by the indemnified party , which
approval shall not be unreasonably withheld (attorneys for the indemnifying party’s insurer shall
be deemed approved for purposes of this Section 32.2). Notwithstanding the foregoing, an
indemnified party may retain its own attorneys to participate or assist in defending any claim,
action or proceeding involving potential liability in excess of the amount available under the
indemnifying party’s liability insurance carried for such claim and the indemnifying party shall
pay the reasonable fees and disbursements of such attorneys. If the indemnifying party fails to
diligently defend or if there is a legal conflict or other conflict of interest, then the
indemnified party may retain separate counsel at the indemnifying party’s reasonable expense.
Notwithstanding anything herein contained to the contrary, the indemnifying party may direct the
indemnified party to settle any claim, suit or other proceeding provided that (a) such settlement
shall involve no obligation on the part of the indemnified party other than the payment of money,
(b) any payments to be made pursuant to such settlement shall be paid in full exclusively by the
indemnifying party at the time such settlement is reached, (c) such settlement shall not require
the indemnified party to admit any liability, and (d) the indemnified party shall have received
an unconditional release from the other parties to such claim, suit or other proceeding. The
provisions of this Article 32 shall survive the expiration or earlier termination of this
Lease.

ARTICLE 33

ADJACENT EXCAVATION; SHORING

          If an excavation shall be made, or shall be authorized to be made, upon land adjacent to the
Real Property, Tenant shall, upon notice, afford to the person causing or

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authorized to cause such excavation license to enter upon the Premises for the purpose of doing
such work as such person shall deem necessary to preserve the wall or the Building from injury or
damage and to support the same by proper foundations. In connection with such license, Tenant shall
have no right to claim any damages or indemnity against Landlord, or diminution or abatement of
Rent, provided that Tenant shall continue to have access to the Premises.

ARTICLE 34

TAX STATUS OF BENEFICIAL OWNERS

          Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord
may from time to time qualify as real estate investment trusts pursuant to Sections 856 et seq. of
the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (a) the loss
of such status, (b) the receipt of any income derived under any provision of this Lease that does
not constitute “rents from real property” (in the case of real estate investment trusts) or that
constitutes “unrelated business taxable income” (in the case of entities described in Section
511(a)(2) of the Code), and (c) the imposition of penalty or similar taxes (each an “Adverse
Event”) is of material concern to Landlord and such beneficial owners and Tenant’s agreement
herein contained regarding the avoidance of an Adverse Event as a material inducement to Landlord
entering into this Lease. In the event that this Lease or any document contemplated hereby could,
in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to
cooperate with Landlord in amending or modifying this Lease or such documents and shall at the
request of Landlord execute and deliver such documents reasonably required to effect such amendment
or modification. Any amendment or modification pursuant to this Article 34 shall be
structured so that the economic results to Landlord and Tenant shall be substantially similar to
those set forth in this Lease without regard to such amendment or modification. Without limiting
any of Landlord’s other rights under this Article 34, Landlord may waive the receipt of any
amount payable to Landlord hereunder and such waiver shall constitute an amendment or modification
of this Lease with respect to such payment.

ARTICLE 35

letter of credit

     Section 35.1 Letter of Credit. Tenant shall deliver to Landlord, prior to the
Commencement Date, a Letter of Credit (as hereinafter defined) in the amount specified in
Article 1 as a guaranty for the faithful performance and observance by Tenant of the terms,
covenants and conditions of this Lease. The letter of credit shall be in the form of a clean,
irrevocable, non-documentary and unconditional stand-by letter of credit (the “Letter of
Credit”) issued by and drawable upon (x) First Republic Bank or (y) any commercial bank,
trust company, national banking association or savings and loan association with offices for
banking purposes in the City of New York (the bank referred to in clause (x) or (y), the
“Issuing Bank”)

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and in the event that the Issuing Bank is not located in the United States, the Letter of
Credit shall be confirmed by any commercial bank, trust company, national banking association or
savings and loan association with offices for banking purposes in the City of New York (the
“Confirming Bank”), which, in each case, has outstanding unsecured, uninsured and
unguaranteed indebtedness, or shall have issued a letter of credit or other credit facility that
constitutes the primary security for any outstanding indebtedness (which is otherwise uninsured and
unguaranteed), that is then rated “A3” or better by Moody’s Investors Service and “A -” or better
by Standard & Poor’s Rating Service, and has combined capital, surplus and undivided profits of not
less than $500,000,000. The Letter of Credit shall (a) name Landlord as beneficiary, (b) have a
term of not less than one year, (c) permit multiple drawings, (d) be fully transferable by Landlord
without the payment of any fees or charges by Landlord, and (e) otherwise be in form and content
satisfactory to Landlord. If upon any transfer of the Letter of Credit any fees or charges shall
be so imposed, then such fees or charges shall be payable solely by Tenant and the Letter of Credit
shall specify that it is transferable without charge to Landlord. If Landlord pays any such fees
or charges, Tenant shall reimburse Landlord therefor upon demand. The Letter of Credit and any
confirmation thereof shall provide that it shall be automatically renewed (and confirmed, if
required), without amendment or need for any other action, for consecutive periods of one year each
thereafter during the Term, as the same may be extended (and in no event shall the Letter of Credit
expire prior to the 45th day following the Expiration Date) unless the Issuing Bank or Confirming
Bank sends duplicate notices (the “Non-Renewal Notices”) to Landlord by registered or
certified mail, return receipt requested (one of which shall be addressed “Attention, Chief Legal
Officer” and the other of which shall be addressed “Attention, Chief Financial Officer”), not less
than 45 days next preceding the then expiration date of the Letter of Credit stating that the
Issuing Bank has elected not to renew the Letter of Credit or that the Confirming Bank has elected
not to continue to confirm the Letter of Credit, as the case may be. The Issuing Bank shall agree
with all beneficiaries, drawers, endorsers, transferees and bona fide holders that drafts drawn
under and in compliance with the terms of the Letter of Credit will be duly honored upon
presentation to the Issuing Bank (or Confirming Bank, if applicable) at an office location in New
York, New York. The Letter of Credit shall be subject in all respects to the International Standby
Practices 1998, International Chamber of Commerce Publication No. 590. If Tenant exercises its
option to extend the Term pursuant to Article 37 of this Lease then, not later than 90 days
prior to the commencement of the Renewal Term in question, Tenant shall deliver to Landlord a new
Letter of Credit or certificate of renewal or extension evidencing that the expiration date of the
Letter of Credit is at least 45 days after the expiration of such Renewal Term.

     Section 35.2 Application of Proceeds of Letter of Credit. If (a) an Event of Default
by Tenant occurs in the payment or performance of any of the terms, covenants or conditions of this
Lease, including the payment of Rent, (b) Tenant fails to make any installment of Rent as and when
due or (c) Landlord receives a Non-Renewal Notice, Landlord shall have the right by sight draft to
draw, at its election, all or a portion of the proceeds of the Letter of Credit and thereafter
hold, use, apply, or retain the whole or any part of such proceeds, (x) to the extent required for
the payment of any Fixed Rent or any other sum as to which Tenant is in default including (i) any
sum which Landlord may expend or may be required to expend by reason of Tenant’s default, and/or
(ii) any damages to which Landlord is entitled pursuant to this Lease, whether such damages accrue
before or after summary proceedings or other reentry by Landlord and/or (y) as cash proceeds to
guaranty Tenant’s obligations hereunder, unless and until Tenant delivers to Landlord a substitute
Letter of Credit which meets the requirements of this Article 35, provided at such time no
default or Event of Default by Tenant has occurred and is continuing, in which event Landlord shall
have no obligation to accept such substitute Letter

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of Credit and shall have the right to retain the cash proceeds. If Landlord applies any part of
the cash proceeds of the Letter of Credit, Tenant shall promptly thereafter amend the Letter of
Credit to increase the amount thereof by the amount so applied or provide Landlord with an
additional Letter of Credit in the amount so applied so that Landlord shall have the full amount
thereof on hand at all times during the Term. If Tenant shall comply with all of the terms,
covenants and conditions of this Lease, the Letter of Credit or the cash proceeds thereof, as the
case may be, shall be returned to Tenant within 30 days after the Expiration Date and after
delivery of possession of the Premises to Landlord in the manner required by this Lease.

     Section 35.3 Transfer. Upon a sale or other transfer of the Real Property or the
Building, Landlord shall transfer the Letter of Credit or the cash proceeds to its transferee.
With respect to the Letter of Credit, within 5 days after notice of such transfer, Tenant, at its
sole cost, shall (if required by Landlord) arrange for the transfer of the Letter of Credit to the
new landlord, as designated by Landlord in the foregoing notice or have the Letter of Credit
reissued in the name of the new landlord. Upon such transfer, Tenant shall look solely to the new
landlord for the return of the Letter of Credit or the cash proceeds and thereupon Landlord shall
without any further agreement between the parties be released by Tenant from all liability
therefor, and it is agreed that the provisions hereof shall apply to every transfer or assignment
made of the Letter of Credit or the cash proceeds to a new landlord. Tenant shall not assign or
encumber or attempt to assign or encumber the Letter of Credit or the cash proceeds and neither
Landlord nor its successors or assigns shall be bound by any such action or attempted assignment,
or encumbrance.

ARTICLE 36

MISCELLANEOUS 

     Section 36.1 Delivery. This Lease shall not be binding upon Landlord or Tenant unless
and until Landlord shall have executed and delivered a fully executed copy of this Lease to Tenant.

     Section 36.2 Transfer of Real Property. Landlord’s obligations under this Lease shall
not be binding upon the Landlord named herein after the sale, conveyance, assignment or transfer or
lease of Landlord’s interest (collectively a “Transfer”) by Landlord (or upon any
subsequent landlord after the Transfer by such subsequent landlord) of its interest in the Building
or the Real Property, as the case may be, and in the event of any such Transfer, Landlord (and any
such subsequent landlord) shall be entirely freed and relieved of all covenants and obligations of
Landlord hereunder, and the transferee of Landlord’s interest (or that of such subsequent landlord)
in the Building or the Real Property, as the case may be, shall be deemed to have assumed all
obligations under this Lease.

     Section 36.3 Limitation on Liability. The liability of Landlord for Landlord’s
obligations under this Lease shall be limited to Landlord’s interest from time to time in the Real
Property and Tenant shall not look to any other property or assets of Landlord or the property or
assets of any Indemnitees in seeking either to enforce Landlord’s obligations under this Lease or
to satisfy a judgment for Landlord’s failure to perform such obligations; and none of the
Indemnitees shall be personally liable for the performance of Landlord’s obligations under this
Lease.

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     Section 36.4 Rent. Notwithstanding anything to the contrary contained in this Lease,
all amounts payable by Tenant to or on behalf of Landlord under this Lease, whether or not
expressly denominated Fixed Rent, Tenant’s Tax Payment, Tenant’s Operating Payment, Additional Rent
or Rent, shall constitute rent for the purposes of Section 502(b)(6) of the United States
Bankruptcy Code and other Requirements.

     Section 36.5 Entire Agreement. This Lease (including any Schedules and Exhibits
referred to herein and all supplementary agreements provided for herein) contains the entire
agreement between the parties and all prior negotiations and agreements are merged into this Lease.
All of the Schedules and Exhibits attached hereto are incorporated in and made a part of this
Lease, provided that in the event of any inconsistency between the terms and provisions of this
Lease and the terms and provisions of the Schedules and Exhibits hereto, the terms and provisions
of this Lease shall control. All Article and Section references set forth herein shall, unless the
context otherwise requires, be deemed references to the Articles and Sections of this Lease.

     Section 36.6 Governing Law. This Lease shall be governed in all respects by the laws
of the State of New York.

     Section 36.7 Unenforceability. If any provision of this Lease, or its application to
any Person or circumstance, shall ever be held to be invalid or unenforceable, then in each such
event the remainder of this Lease or the application of such provision to any other Person or any
other circumstance (other than those as to which it shall be invalid or unenforceable) shall not be
thereby affected, and each provision hereof shall remain valid and enforceable to the fullest
extent permitted by law.

     Section 36.8 Consent to Jurisdiction. (a) Except as expressly provided to the
contrary in this Lease, Tenant agrees that all disputes arising, directly or indirectly, out of or
relating to this Lease, and all actions to enforce this Lease, shall be dealt with and adjudicated
in the state courts of the State of New York or the federal courts for the Southern District of New
York; and for that purpose Tenant expressly and irrevocably submits itself to the jurisdiction of
such courts. Tenant agrees that so far as is permitted under applicable law, this consent to
personal jurisdiction shall be self-operative and no further instrument or action, other than
service of process in one of the manners specified in this Lease, or as otherwise permitted by law,
shall be necessary in order to confer jurisdiction upon it in any such court. Tenant further
agrees that judgment against it in any such action or proceeding shall be conclusive and, to the
extent permitted by applicable law, may be enforced in any other jurisdiction within or outside the
United States of America by suit on the judgment, a certified or exemplified copy of which shall be
conclusive evidence of the fact and of the amount of its indebtedness.

          (b) To the extent that Tenant has or hereafter may acquire any immunity from jurisdiction of
any court or from any legal process (whether through service or notice, attachment prior to
judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its
property, Tenant irrevocably waives such immunity in respect of its obligations under this Lease.

     Section 36.9 Landlord’s Agent. Unless Landlord shall render written notice to Tenant
to the contrary, Tishman Speyer Properties, L.P. is authorized to act as Landlord’s agent in
connection with the performance of this Lease, and Tenant shall direct all correspondence and
requests to, and shall be entitled to rely upon correspondence received from, Tishman Speyer

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Properties, L.P., as agent for the Landlord in accordance with Article 27. Tenant
acknowledges that Tishman Speyer Properties, L.P. is acting solely as agent for Landlord in
connection with the foregoing; and neither Tishman Speyer Properties, L.P. nor any of its direct or
indirect partners, officers, shareholders, directors, employees, principals, agents or
representatives shall have any liability to Tenant in connection with the performance of this
Lease, and Tenant waives any and all claims against any and all of such parties arising out of, or
in any way connected with, this Lease, the Building or the Real Property.

     Section 36.10 Estoppels. (a) Within seven days following request from Landlord, any
Mortgagee or any Lessor, Tenant shall deliver to Landlord a written statement executed and
acknowledged by Tenant, in form satisfactory to Landlord, (i) stating the Commencement Date, and
the Expiration Date, and that this Lease is then in full force and effect and has not been modified
(or if modified, setting forth all modifications), (ii) setting forth the date to which the Fixed
Rent and any Additional Rent have been paid, together with the amount of monthly Fixed Rent,
Tenant’s Tax Payment and Tenant’s Operating Payment then payable, (iii) stating whether or not, to
the best of Tenant’s knowledge, Landlord is in default under this Lease, and, if Tenant asserts
that Landlord is in default, setting forth the specific nature of any such defaults, (iv) stating
whether Landlord has failed to complete any work required to be performed by Landlord under this
Lease, (v) stating whether there are any sums payable to Tenant by Landlord under this Lease, (vi)
stating the amount of the Letter of Credit, if any, under this Lease, (vii) stating whether there
are any subleases or assignments affecting the Premises, (viii) stating the address of Tenant to
which all notices and communications under the Lease shall be sent, and (ix) responding to any
other matters reasonably requested by Landlord, such Mortgagee or such Lessor. Tenant acknowledges
that any statement delivered pursuant to this Section 36.10(a) may be relied upon by any
purchaser or owner of the Real Property or the Building, or all or any portion of Landlord’s
interest in the Real Property or the Building or any Superior Lease, or by any Mortgagee, or
assignee thereof or by any Lessor, or assignee thereof.

          (b) From time to time, within seven days following a request by Tenant, Landlord shall
deliver to Tenant a written statement executed and acknowledged by Landlord, in form reasonably
acceptable to Tenant and Landlord, (i) stating the Commencement Date, the Rent Commencement Date
and the Expiration Date, and that this Lease is then in full force and effect and has not been
modified (or, if modified, setting forth all modifications), (ii) setting forth the date to which
the Fixed Rent and all Additional Rent have been paid, together with the amount of monthly Fixed
Rent, Tenant’s Tax Payment and Tenant’s Operating Payment then payable, and (iii) stating whether
or not, to Landlord’s knowledge, Tenant is in default under this Lease, and, if Landlord asserts
that Tenant is in default, setting forth the specific nature of all such defaults. Landlord
acknowledges that any statement delivered pursuant to this Section 36.10(b) may be relied
upon by any prospective or actual sublessee of the Premises or assignee of this Lease, or permitted
transferee of or successor to Tenant.

     Section 36.11 Certain Rules of Interpretation. For purposes of this Lease, whenever
the words “include”, “includes”, or “including” are used, they shall be deemed to be followed by
the words “without limitation” and, whenever the circumstances or the context requires, the
singular shall be construed as the plural, the masculine shall be construed as the feminine and/or
the neuter and vice versa. This Lease shall be interpreted and enforced without the aid of
any canon, custom or rule of law requiring or suggesting construction against the party drafting or
causing the drafting of the provision in question.

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     Section 36.12 Captions. The captions in this Lease are inserted only as a matter of
convenience and for reference and in no way define, limit or describe the scope of this Lease or
the intent of any provision hereof.

     Section 36.13 Parties Bound. The terms, covenants, conditions and agreements
contained in this Lease shall bind and inure to the benefit of Landlord and Tenant and, except as
otherwise provided in this Lease, to their respective legal representatives, successors, and
assigns.

     Section 36.14 Directory. The lobby shall contain a computerized directory wherein
the Building’s tenants shall be listed with a capacity for up to 50 listings per floor for Tenant
and others permitted to occupy the Premises hereunder, provided Tenant shall be entitled to such
proportion of such listings as the Agreed Area of Premises is to the rentable square foot area of
such floor. From time to time, but not more frequently than once every three (3) months, Landlord
shall reprogram the computerized directory to reflect such changes in the listings therein as
Tenant shall request.

     Section 36.15 Counterparts. This Lease may be executed in two or more counterparts,
each of which shall constitute an original, but all of which, when taken together, shall constitute
but one instrument.

     Section 36.16 Memorandum of Lease. This Lease shall not be recorded, provided that
at Tenant’s request, Landlord shall execute and deliver to Tenant a statutory short form memorandum
of lease prepared by Tenant, provided that Tenant (i) delivers to Landlord the memorandum of lease
containing only those minimum requirements as set forth in Section 291-c of the Real Property Law
of the State of New York, (ii) simultaneously with such request, delivers to Davis & Gilbert LLP a
statutory memorandum of termination of lease, executed, acknowledged and in recordable form, which
shall be held in escrow for the benefit of Landlord by Davis & Gilbert LLP until the expiration or
earlier termination of the Lease, and (iii) pays all costs associated with the recording of the
memorandum of Lease and the escrow by Davis & Gilbert LLP. In addition, at the expiration or
earlier termination of the Lease, Tenant shall, at its sole cost and expense, take all actions
necessary to remove the memorandum of lease from record or record the memorandum of termination of
lease described above.

     Section 36.17 Survival. All obligations and liabilities of Landlord or Tenant to the
other which accrued before the expiration or other termination of this Lease, and all such
obligations and liabilities which by their nature or under the circumstances can only be, or by the
provisions of this Lease may be, performed after such expiration or other termination, shall
survive the expiration or other termination of this Lease. Without limiting the generality of the
foregoing, the rights and obligations of the parties with respect to any indemnity under this
Lease, and with respect to Fixed Rent, Tenant’s Tax Payment, Tenant’s Operating Payment and any
other amounts payable under this Lease, shall survive the expiration or other termination of this
Lease.

     Section 36.18 Exhibit K. Exhibit K attached hereto is prepared on a
composite basis for the convenience of Tenant to reflect generally the addition of the basic terms
of this Lease applicable to the leasing of the 22nd Floor Premises and the 17th Floor Premises to
the basic terms of this Lease applicable to the remainder of the Premises. Such exhibit is,
nonetheless, not an operative part of this Lease. In the event of any inconsistency between the
terms of such exhibit and the terms of this Lease, the terms of this Lease shall govern.

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ARTICLE 37

RENEWAL OPTIONs

     Section 37.1 Exercise of Options. Tenant shall have the right, to renew the Term for
the Premises described below for (i) two successive renewal terms of five years each or (ii) one
renewal term of ten years (each a “Renewal Term”) by notice (a “Renewal Notice”)
delivered to Landlord not less than 18 months prior to the then Expiration Date, time being of the
essence; provided, however, that (a) Tenant shall not be in default under any of the terms,
covenants or conditions of this Lease beyond the applicable notice and/or cure periods either on
the date the applicable Renewal Notice is given or on the applicable Renewal Term Commencement Date
(as hereinafter defined), and (b) the Named Tenant shall not have assigned this Lease (other than
pursuant to Section 15.9), and Named Tenant and Related Entities shall be in occupancy of
at least 75% of the rentable area of the Premises in the aggregate. Upon the giving of a Renewal
Notice (which Renewal Notice shall specify the Renewal Term and the space being renewed or, in the
absence thereof, Tenant shall be deemed to have elected to renew the Term in respect of the entire
Premises), this Lease in respect of the Premises designated or deemed designated by Tenant shall be
renewed for the Renewal Term in question with the same force and effect as if such Renewal Term had
originally been included in the Term. Each Renewal Term shall commence on the day after the then
Expiration Date (each a “Renewal Term Commencement Date”) and shall terminate on the day
preceding the fifth or the tenth anniversary of the Renewal Term Commencement Date, as the case may
be, or such earlier date as this Lease shall terminate pursuant to any of the terms of this Lease.
If Tenant shall fail to renew the Term for the first Renewal Term of five years, Tenant shall have
no right to renew the Term for the second Renewal Term of five years. If Tenant shall fail to renew
the Term in respect of any portion of the Premises during the first Renewal Term of five years,
Tenant shall have no right to renew the Term in respect of such portion of the Premises as to which
Tenant elected not to renew for the second Renewal Term of five years. Tenant is not obligated to
renew the Term in respect of the entire Premises (but if Tenant does renew in respect of the entire
Premises, Tenant may do so without regard to the contiguity of any portion of the Premises),
provided, however, that any portion of the Premises as to which Tenant renews the Term must
consist of at least 2 entire floors of the Premises, including an entire “end floor” (that is, the
then highest or lowest floor of one or more blocks of contiguous floors of the Premises as
constituted at the time question) together with any one or more full floors which are contiguous to
such “end floor” and may include, in addition, (1) one or more partial floors which are contiguous
with such “end floor”, provided such partial floor consists of the entirety of the partial floor
that Tenant then leases hereunder, and/or (2) only after first including contiguous floors as
provided above, if any, any non-contiguous floors of the Premises (i.e., if Tenant does not then
lease any contiguous floors, Tenant may renew the Lease in respect of non-contiguous floors). The
term “Premises” as used in Sections 37.2, 37.3 and 37.4 shall mean the
Premises designated or deemed designated by Tenant in the Renewal Notice, subject to the foregoing
provisions of this Section 37.1.

     Section 37.2 Terms. All of the terms, covenants and conditions of this Lease shall
continue in full force and effect in respect of the Premises during each Renewal Term, except that
(a) the Fixed Rent for such Renewal Term shall be in an amount equal to 100% of the Fair Market
Value (as hereinafter defined), (b) Tenant shall have no further right to renew the Term

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after the first Renewal Term of 10 years or the second Renewal Term of 5 years, as the case
may be, (c) the Base Tax Year shall be the Tax Year commencing on the July 1st prior to the Renewal
Term Commencement Date in question, and (d) the Base Expense Year shall be the Comparison Year
commencing on the January 1st prior to the Renewal Term Commencement Date in question. Upon the
commencement of the Renewal Term in question, (1) the Renewal Term shall be added to and become
part of the Term, (2) any reference in this Lease to the “Term”, the “term of this Lease” or any
similar expression shall be deemed to include the Renewal Term in question, and (3) the expiration
of the Renewal Term in question shall become the Expiration Date. Any termination, cancellation or
surrender of the entire interest of Tenant under this Lease at any time during the Term shall
terminate any right of renewal of Tenant hereunder.

     Section 37.3 Fair Market Value. “Fair Market Value”, in respect of the
Premises, shall mean the fair market annual rental value of the Premises at the commencement of the
Renewal Term in question for a term equal to the Renewal Term, based on comparable space in the
Building and other first class office buildings in midtown Manhattan, including all of Landlord’s
services provided for in this Lease, and with (a) the Premises considered as vacant, and in the
“as is” condition existing on the Renewal Term Commencement Date in question, (b) the Base Tax Year
being the Tax Year commencing on the July 1st prior to the Renewal Term Commencement Date in
question, and (c) the Base Expense Year being the Comparison Year commencing on the January 1st
prior to the Renewal Term Commencement Date in question. The calculation of Fair Market Value
shall also be adjusted to take into account all relevant factors. At least 12 months prior to the
commencement of each Renewal Term, Landlord shall deliver to Tenant Landlord’s determination of
Fair Market Value.

     Section 37.4 Arbitration. If Tenant shall dispute Landlord’s determination of Fair
Market Value, Tenant shall give notice to Landlord of such dispute within 10 days after the
delivery of Landlord’s determination to Tenant, and such dispute shall be determined by a single
arbitrator appointed in accordance with the American Arbitration Association Real Estate Valuation
Arbitration Proceeding Rules. If no notice of dispute is given by Tenant within such 10-day period
(time being of the essence), then Landlord’s determination shall be binding on Tenant. The
arbitrator shall be impartial and shall have not less than 10 years’ experience in the County of
New York related to the leasing of commercial office space in office buildings comparable to the
Building, and the fees of the arbitrator shall be shared by Landlord and Tenant. Within 15 days
following the appointment of the arbitrator, Landlord and Tenant shall attend a hearing before the
arbitrator at which each party shall submit a report setting forth its determination of Fair Market
Value, together with such information on comparable rentals and such other evidence as such party
shall deem relevant. The arbitrator shall, within 30 days following such hearing and submission of
evidence, render his or her decision by selecting the determination of Fair Market Value submitted
by either Landlord or Tenant which, in the judgment of the arbitrator, most nearly reflects the
Fair Market Value. The arbitrator shall have no power or authority to select any Fair Market Value
other than a Fair Market Value submitted by Landlord or Tenant or to modify any of the provisions
of this Lease, and the decision of the arbitrator shall be final and binding upon Landlord and
Tenant. Prior to the determination of the arbitrator, Tenant shall pay Fixed Rent based on
Landlord’s determination of Fair Market Value submitted to Tenant pursuant to Section 37.3,
and following the arbitrator’s final determination, the amount of any overpayment or underpayment
shall be appropriately adjusted between the parties.

     Section 37.5 Agreement of Terms. Landlord and Tenant, at either party’s request,
shall promptly execute and exchange an appropriate agreement evidencing the extension of the

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Term for the Renewal Term, and the terms thereof in a form reasonably satisfactory to both parties,
but no such agreement shall be necessary in order to make the provisions hereof effective.

ARTICLE 38

RIGHT OF FIRST OFFER

     Section 38.1 Exercise of Right. If at any time prior to the last 18 months of the
Term (as the same may be extended) any of the rentable area of the Building located on the 16th
through the 25th floors of the Building other than the 17th Floor Premises (such space being
hereinafter referred to as the “Expansion Space”) is, or Landlord reasonably believes the
same is to become, Available (as hereinafter defined), Landlord shall deliver notice thereof to
Tenant (an “Expansion Notice”) setting forth a description of the Expansion Space in
question, the rentable square feet of such Expansion Space, Landlord’s determination of the
Expansion Space Fair Market Value (as hereinafter defined) and the date Landlord reasonably
anticipates that such Expansion Space will become Available (an “Anticipated Expansion Space
Commencement Date”). Subject to Section 38.7, Landlord may not give Tenant an Expansion
Notice in respect of any Expansion Space earlier than 13 months (18 months, if the Expansion Space
consists of more than one entire floor, and at any time, if Landlord has received a bona fide offer
from a third party for the Expansion Space in question), and no later than 3 months, before the
Anticipated Expansion Space Commencement Date in respect of the Expansion Space in question.
Provided that all of the conditions precedent set forth in this Article 38 are fully
satisfied by Tenant, Tenant shall have the option (each an “Expansion Option”), exercisable
by Tenant delivering irrevocable notice to Landlord (each an “Acceptance Notice”) within 20
days of the giving by Landlord of the Expansion Notice in question, time being of the essence, to
lease the portion of the Expansion Space described in the Expansion Notice and permitted as
provided below upon the terms and conditions set forth in this Article 38. If an Expansion
Notice describes only a portion of any floor, Tenant shall only have the right to exercise the
related Expansion Option in respect of the entirety of such portion of such space. If an Expansion
Option consists of more than one full floor of the Building (e.g., the Expansion Notice describes
one full floor plus a portion of another floor or describes two or more full floors), Tenant shall
have the right to exercise the Expansion Option and lease either all of the Expansion Space
described in the Expansion Notice or one or more full floors of the Expansion Space described in
the Expansion Notice, which full floor(s) must (x) include an “end” floor in a block of space
described in the Expansion Notice only if the floors described in the Expansion Notice are
contiguous and, if Tenant shall lease more than one full floor, full floors contiguous to each
other and (y) must not be an “end” floor of a contiguous block of space if the floors described in
the Expansion Notice include both contiguous floors and one or more non-contiguous floors (i.e.,
if there are three floors, two of which are contiguous and one of which is not, Tenant must select
the non-contiguous floor or the two contiguous floors but not one of the two contiguous floors). In
addition, if the floors described in the Expansion Notice are not contiguous, Tenant may select any
one or more of such floors. If Tenant shall lease all of the Expansion Space described in an
Expansion Notice, no contiguity restrictions shall apply. If Tenant shall fail to designate the
space that Tenant desires to lease in the related Acceptance Notice, Tenant shall be deemed to have
elected to lease all of the space described in the related Expansion Notice. If Tenant fails to
timely give the Acceptance Notice with respect to the Expansion Space in question, Tenant shall be
deemed to have rejected Landlord’s offer to lease such Expansion

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Space and Landlord shall have no further obligation, and Tenant shall have no further rights, with
respect to such Expansion Space during the Term unless and until Landlord leases such space to a
third party and such space thereafter becomes Available again. Notwithstanding any of the foregoing
to the contrary, if Tenant shall exercise an Expansion Option after the date that is 24 months
prior to the expiration of the Term, the applicable Acceptance Notice shall also constitute the
Renewal Notice pursuant to Article 37 and contain all the information required by, and be
subject to the terms of, such Article.

     Section 38.2 Definitions. (a) “Available” shall mean that at the time in
question (i) no Person leases or occupies the Expansion Space in question, whether pursuant to a
lease or other agreement, and (ii) no Person holds any option or right to lease or occupy such
Expansion Space, or to renew its lease or right of occupancy thereof. So long as a tenant or
other occupant leases or occupies a portion of the Expansion Space in question, Landlord shall be
free to extend any such tenancy or occupancy, whether or not pursuant to a lease or other
agreement, and such space shall not be deemed to be Available. From and after the date hereof,
Landlord shall not grant any rights to any tenant or other occupant of the Building with respect to
any Expansion Space unless such rights are subordinate to the rights granted Tenant hereunder,
except to tenants and other occupants leasing or occupying the applicable Expansion Space as of the
date hereof or to new tenants or occupants of a portion of the Expansion Space after Landlord shall
have duly offered such portion of the Expansion Space to Tenant pursuant to this Article
38. Subject to Section 38.5, in no event shall Landlord be liable to Tenant for any
failure by any then existing tenant or occupant of any Expansion Space to vacate such Expansion
Space.

          (b) “Expansion Space Fair Market Value,” with respect to any Expansion Space, shall
mean the fair market annual rental value of such Expansion Space at the commencement of the leasing
of such Expansion Space for a term commencing on the applicable Expansion Space Commencement Date
(as hereinafter defined) and ending on the Expiration Date, as determined by Landlord based on
comparable space in the Building and other first class office buildings of comparable quality in
midtown Manhattan., including all of Landlord’s services provided for in the Lease and with (i)
such Expansion Space considered as vacant and in the “as is” condition which same shall be in on
the applicable Expansion Space Commencement Date, (ii) the Base Tax Year being the Tax Year
commencing on the July 1st immediately preceding such Expansion Space Commencement Date and (iii)
the Base Expense Year being the Comparison Year commencing on the January 1st immediately preceding
such Expansion Space Commencement Date. The calculation of Expansion Space Fair Market Value shall
also be adjusted to take into account any other relevant factors.

     Section 38.3 Conditions to Exercise. Tenant shall have no right to exercise an
Expansion Option unless all of the following conditions have been satisfied on the date the
applicable Acceptance Notice is delivered to Landlord and on the applicable Expansion Space
Commencement Date:

          (a) No Event of Default shall have occurred and be continuing; and

          (b) Tenant and Related Entities shall be in occupancy of at least 75% of the rentable area of
the Premises in the aggregate.

     Section 38.4 Incorporation of Expansion Space. Effective as of the date on which
Landlord delivers vacant possession of any Expansion Space to Tenant (as to the Expansion Space in
question, the “Expansion Space Commencement Date”):

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          (a) Fixed Rent for such Expansion Space shall be the Expansion Space Fair Market Value as
determined in accordance with this Article 38;

          (b) Tenant shall pay Tenant’s Tax Payment and Tenant’s Operating Payment with respect to such
Expansion Space in accordance with the provisions of Article 8, except that (i) the Base
Tax Year shall be the Tax Year commencing on the July 1st immediately preceding the applicable
Expansion Space Commencement Date, and (ii) the Base Expense Year shall be the Comparison Year
commencing on the January 1st immediately preceding the applicable Expansion Space Commencement
Date;

          (c) The rentable square footage of such Expansion Space shall be as set forth in the related
Expansion Notice (which the parties agree shall be the rentable square footage of such Expansion
Space for all purposes of this Lease), and Tenant’s Proportionate Share in respect of Operating
Expenses and Taxes shall be increased proportionately;

          (d) Such Expansion Space shall be delivered in its “as is” condition, and Landlord shall not
be obligated to perform any work with respect thereto or make any contribution to Tenant to prepare
such Expansion Space for Tenant’s occupancy;

          (e) The Letter of Credit shall be increased by an amount equal to (i) the then existing amount
of the Letter of Credit then required pursuant to Article 35, divided by the number of
rentable square feet then contained in the Premises, multiplied by (ii) the number of rentable
square feet in the Expansion Space in question;

          (f) Such Expansion Space shall be added to and be deemed to be a part of the Premises for all
purposes of this Lease (except as otherwise provided in this Section 38); and

          (g) If Tenant shall not lease the entirety of a floor of the Building, then upon the exercise
of an Expansion Option and if Tenant shall thereafter lease the remainder of such floor hereunder,
the Premises shall, from and after Tenant’s leasing of the remainder of such floor, include the
common corridors and lavatories on such floor.

     Section 38.5 Possession. Except as provided below in no event shall Landlord be
obligated to incur any fee, cost, expense or obligation, nor to prosecute any legal action or
proceeding, in connection with the delivery of any Expansion Space to Tenant nor shall Tenant’s
obligations under this Lease with respect to the Premises or such Expansion Space be affected
thereby. Landlord shall not be subject to any liability and this Lease shall not be impaired if
Landlord shall be unable to deliver possession of such Expansion Space to Tenant on any particular
date. Tenant hereby waives any right to rescind this Lease or the applicable Acceptance Notice
under the provisions of Section 223-a of the Real Property Law of the State of New York, and agrees
that the provisions of this Section 38.5 are intended to constitute “an express provision
to the contrary” within the meaning of said Section 223-a. Landlord agrees that it shall not waive
any rights it may have against any Person holding over in any Expansion Space, without any
obligation to enforce any such rights except as provided below. Notwithstanding any provision of
this Section 38.5 to the contrary, if the current tenant of any Expansion Space (other than
Colgate Palmolive Company) or any party claiming through such tenant holds over in such space
beyond 120 days after the expiration date of such tenant’s lease of such space, Landlord agrees to
commence and diligently prosecute against such tenant a holdover proceeding to obtain possession of
such space. Upon Tenant’s request from time to time, Landlord shall advise Tenant of any changes in
the Anticipated Expansion Space

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Commencement Date. If Landlord fails to deliver vacant possession of any Expansion Space in
accordance with the terms of this Lease prior to 365 days after the expected delivery date set
forth in the applicable Expansion Notice (an “Expansion Space Outside Delivery Date”),
Tenant shall have the right within 30 days after such Expansion Space Outside Delivery Date, as its
sole and exclusive remedy therefor, to cancel this Lease in respect of the Expansion Space in
question by giving notice of cancellation to Landlord. If Tenant timely delivers the aforesaid
cancellation notice, this Lease in respect of the Expansion Space in question shall terminate 30
days after the date of such notice, unless Landlord delivers vacant possession of the Expansion
Space in question in the condition required by this Lease within 30 days after Tenant gives such
cancellation notice in respect of the Expansion Space in question, in which case Tenant’s
cancellation notice shall be void and this Lease in respect of the Expansion Space in question
shall continue in full force and effect. Failure by Tenant to exercise such right to cancel this
Lease with respect to the Expansion Space in question within such 30-day period shall constitute a
waiver of such right; time being of the essence with respect thereto.

     Section 38.6 Arbitration. If Tenant shall dispute Landlord’s determination of the
Expansion Space Fair Market Value in respect of any Expansion Space, Tenant shall give notice to
Landlord of such dispute within 10 days following the delivery of the related Acceptance Notice,
and such dispute shall be determined by a single arbitrator appointed in accordance with the
American Arbitration Association Real Estate Valuation Arbitration Proceeding Rules. If no notice
of any dispute is given within such 10 day period (time being of the essence), then Landlord’s
determination shall be binding upon Tenant. The arbitrator shall be impartial and shall have not
less than 10 years’ experience in the County of New York in a calling related to the leasing of
commercial office space in office buildings comparable to the Building, and the fees of the
arbitrator shall be shared by Landlord and Tenant. Within 15 days following the appointment of the
arbitrator, Landlord and Tenant shall attend a hearing before the arbitrator at which each party
shall submit a report setting forth its determination of the Expansion Space Fair Market Value in
respect of the Expansion Space in question, together with such information on comparable rentals
and such other evidence as such party shall deem relevant. The arbitrator shall, within 30 days
following such hearing and submission of evidence, render his or her decision by selecting the
determination of the Expansion Space Fair Market Value submitted by either Landlord or Tenant
which, in the judgment of the arbitrator, most nearly reflects the Expansion Space Fair Market
Value. The arbitrator shall have no power or authority to select an Expansion Space Fair Market
Value other than an Expansion Space Fair Market Value submitted by Landlord or Tenant or to modify
any of the terms and provisions of this Lease, and the decision of the arbitrator shall be final
and binding upon Landlord and Tenant. Prior to the determination of the arbitrator, Tenant shall
pay Fixed Rent in respect of the Expansion Space in question based on Landlord’s determination of
the Expansion Space Fair Market Value in respect of such Expansion Space, and following the
arbitrator’s final determination, the amount of any overpayment or underpayment shall be adjusted
between the parties.

     Section 38.7 Acceleration. In the event that the existing lease for any of the
Expansion Space is terminated prior to the expiration date specified therein as a result of the
rejection in bankruptcy or a bona fide arm’s length dispossess action upon default by the then
tenant thereunder as a result of the termination of any such lease by mutual agreement or by
reason of the tenant’s financial condition or default, provided that such termination is made by
Landlord acting in good faith, and Landlord has obtained or expects to obtain vacant possession of
such space, then in any such case, Landlord may elect to accelerate the Expansion Space
Commencement Date with respect to such Expansion Space (or any portion thereof) by giving

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immediate notice of such acceleration to Tenant (without any obligation to comply with the
notice provisions contained in Section 38.1), specifying the date upon which Landlord
anticipates that Landlord shall deliver such Expansion Space to Tenant. In the event of such
acceleration, Tenant shall have 30 days after delivery by Landlord of the acceleration notice
within which to exercise its option to lease such Expansion Space (time being of the essence with
respect to the giving of the notice by Tenant). In the event Tenant fails to exercise the option
to lease such Expansion Space after such an acceleration, Landlord shall have no further obligation
to Tenant, and Tenant shall have no further rights, with respect to such Expansion Space hereunder
unless and until Landlord leases such space to a third party and such space thereafter becomes
Available again, and Landlord shall be free to lease such Expansion Space to a third party or
parties.

     Section 38.8 Condenser Water. If Tenant shall exercise an Expansion Option and shall
notify Landlord that Tenant requires additional condenser water with respect to the Expansion Space
in question and provide appropriate documentation from its engineer supporting such claim, then
Landlord shall determine in good faith if same is available for Tenant’s use, taking into
consideration the potential needs of existing and future tenants of the Building and the Building
and, to the extent Landlord determines same is so available, Landlord shall furnish to Tenant such
additional condenser water at the rate stated herein, as same may be increased, pursuant to the
terms of Section 11.7, provided that if the prior tenant of the Expansion Space in question
was entitled to condenser water under its lease of such Expansion Space, Landlord shall provide
Tenant with at least the amount of condenser water allocable to such Expansion Space on a
proportionate basis under such lease.

     Section 38.9 Agreement of Terms. Landlord and Tenant, at either party’s request,
shall promptly execute and exchange an appropriate agreement evidencing the leasing of the
Expansion Space in question and the terms thereof in a form reasonably satisfactory to both
parties, but no such agreement shall be necessary in order to make the provisions hereof effective.

ARTICLE 39

SATELLITE DISH

     Section 39.1 Right to Install Satellite Dish. (a) Tenant has the option (the
“Satellite Option”), subject to the availability of roof space as reasonably determined by
Landlord, to install and operate for its own use (and not for broadcasting to others for a fee or
for resale purposes) a satellite dish, communication antenna, microwave equipment, other
telecommunications equipment and related equipment, mountings, wiring and support (collectively,
the “Satellite Dish”) on a portion of the roof of the Building in a location determined by
Landlord in its sole discretion, provided that (i) the size (which shall not exceed 2 square feet
in diameter) and type of such Satellite Dish shall be approved by Landlord, (ii) Tenant shall
comply with all applicable Requirements (including the obtaining of all required permits and
licenses, and the maintenance thereof and shall provide Landlord or its designee with true and
complete copies thereof prior to the installation or use of the Satellite Dish), it being
understood that Landlord shall, subject to reimbursement for all reasonable out-of-pocket expenses,
reasonably cooperate with Tenant in connection therewith, including, without limitation, by
executing and delivering to Tenant such applications, instruments and other documents as

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Tenant may reasonably request in connection therewith, (iii) the manner of installation shall be
approved by Landlord, which approval shall not be unreasonably withheld, and (iv) the installation
of Tenant’s Satellite Dish shall constitute an Alteration and shall be performed in accordance with
the provisions of Article 5. If Tenant shall exercise the Satellite Option, Landlord will
make available to Tenant, in accordance with Article 5, access to the roof for the
construction, installation, maintenance, repair, operation, replacement, substitution and use of
Tenant’s Satellite Dish, as well as space in the Building to run electrical and telecommunications
conduits or cables from such Satellite Dish to a point of entry in the Premises. All of the
provisions of this Lease shall apply to the construction, installation, maintenance, repair,
operation, replacement, substitution and use of the Satellite Dish, including provisions relating
to compliance with Requirements, insurance, indemnity, repairs and maintenance as if the Satellite
Dish were part of the Premises. Tenant’s Satellite Dish shall be treated for all purposes of this
Lease as if it were a Specialty Alteration. Tenant shall pay all costs of electricity in connection
with the use of the Satellite Dish.

          (b) Tenant’s Satellite Dish may not cause interference or damage to other tenants in or
occupants of the Building or any Building Systems.

          (c) Landlord shall charge Tenant an annual fee for the use of the area where the Satellite
Dish is placed equal to the established fee from time to time in effect for the Building, which fee
is currently $750 per linear square foot of the diameter of the area where the Satellite Dish is
placed. Tenant shall pay such annual fee in equal monthly installments, at the time and in the
manner Fixed Rent is payable hereunder.

     Section 39.2 Relocation. At any time following Tenant’s installation of the Satellite
Dish, Landlord may, upon reasonable prior notice to Tenant, direct Tenant to relocate such
Satellite Dish to a location designated by Landlord on the roof of the Building and providing
substantially comparable reception and transmission as was afforded by the prior location, and
Tenant shall relocate its Satellite Dish as soon as reasonably practicable thereafter (and, in any
event, within 30 days after receipt of Landlord’s notice). The cost of relocating the Satellite
Dish shall be borne by Tenant if such relocation shall be necessary due to any interference with
other installations existing on the date the Satellite Dish was installed, any Requirement or any
act or omission of Tenant (other than mere use), including Tenant’s failure to comply with
Section 39.1(b). If the relocation shall be required for any other reason, the cost of the
relocation shall be borne by Landlord.

     Section 39.3 Compliance with Requirements; Damage; Maintenance Taxes; etc. (a)
Landlord shall not be responsible for complying with any Requirements (including the obtaining of
any required permits or licenses, or the maintenance thereof) relating to the Satellite Dish, nor
shall Landlord be responsible for any damage that may be caused to Tenant or the Satellite Dish by
any other tenant or occupant of the Building. Landlord makes no representation that Tenant’s
Satellite Dish will be able to receive or transmit communication signals without interference or
disturbance (whether or not by reason of the installation or use of similar equipment by others on
the roof) and Tenant agrees that Landlord shall not be liable to Tenant therefor, it being
understood that Landlord shall reasonably cooperate with Tenant to relocate, at Tenant’s sole
expense, the Satellite Dish to an alternate location, to the extent available at the Building,
where the Satellite Dish will be able to receive or transmit such communication signals without
interference or disturbance. Tenant’s use and operation of the Satellite Dish shall also comply
with all Requirements.

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          (b) Tenant, at Tenant’s sole cost and expense, shall paint and maintain the Satellite Dish in
white or such other color as Landlord shall determine (provided such color or painting of the
Satellite Dish does not adversely affect the operation of the Satellite Dish) and shall install
such lightning rods or air terminals on or about the Satellite Dish as Landlord may reasonably
require.

          (c) Tenant shall (i) be solely responsible for any damage caused as a result of the use,
installation or maintenance of the Satellite Dish, (ii) promptly pay any tax, license, permit or
other fees or charges imposed pursuant to any Requirements relating to the construction,
installation, maintenance, repair, operation or use of the Satellite Dish, (iii) at its sole cost
and expense, promptly comply with all precautions and safeguards required by Landlord’s insurance
company and all Governmental Authorities in connection with the ownership, use, installation or
maintenance and operation of the Satellite Dish, and (iv) at its sole cost and expense, maintain
the Satellite Dish in a safe and orderly condition, so as not to interfere with other tenants or
occupants in the Building or the operation by others of equipment on the roof of the Building.

     Section 39.4 No Leasehold Interest. Tenant acknowledges and agrees that the
privileges granted Tenant under this Article 39, if exercised, shall not be deemed to grant
Tenant a leasehold or other real property interest in the Building or any portion thereof
in connection with the Satellite Dish.

ARTICLE 40

ARBITRATION

     In any arbitration which, pursuant to the express provisions of this Lease, is governed by
this Article 40, either party may submit the dispute for resolution by arbitration in the
City of New York in accordance with the Arbitration Rules for the Real Estate Industry of the
American Arbitration Association (“AAA”), except that the terms of this Article 40
shall supersede any conflicting or otherwise inconsistent rules. Provided the rules and regulations
of the AAA so permit, (i) the AAA shall, within 2 Business Days after such submission or
application, select a single arbitrator having at least ten (10) years’ experience in leasing and
management of commercial properties similar to the Building, (ii) the arbitration shall commence 2
Business Days thereafter and shall be limited to a total of seven hours on the date of commencement
until completion, with each party having no more than a total of two hours to present its case and
to cross-examine or interrogate persons supplying information or documentation on behalf of the
other party, and (iii) the arbitrator shall make a determination within 3 Business Days after the
conclusion of the presentation of Landlord’s and Tenant’s cases, which determination shall be
limited to a decision upon whether Landlord acted reasonably in withholding its consent or approval
(and the arbitrator shall not be permitted to modify any of the terms of this Lease). The
arbitrator’s determination shall be final and binding upon the parties, whether or not a judgment
shall be entered in any court. All actions necessary to implement such decision shall be undertaken
as soon as possible, but in no event later than 10 Business Days after the rendering of such
decision. The arbitrator’s determination may be entered in any court having jurisdiction thereof.
All fees payable to the AAA for services rendered in connection with the resolution of the dispute
shall be paid by the unsuccessful party. The arbitrator shall not be entitled to award monetary
damages.

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ARTICLE 41

22nd floor premises

     Section 41.1 (a) Commencing on September 1, 2010 (the “22nd Floor Premises Commencement
Date”) and ending on the Expiration Date, Landlord shall lease to Tenant, and Tenant shall hire
from Landlord, the entire 22nd floor of the Building (the “22nd Floor Premises”), and the
22nd Floor Premises shall be added to the Premises, upon and subject to the terms of this
Article 41. Tenant hereby acknowledges that it occupies the 22nd Floor Premises pursuant
to the Sublease dated as of May 3, 2005 between Wilmer Cutler Pickering Hale and Dorr LLP
(“Wilmer”), as sublandlord, and Tenant, as subtenant, as amended by Consent to Sublease and
Second Amendment to Lease dated as of May 3, 2005 (the “22nd Floor Sublease”). Landlord
shall be deemed to have tendered possession of the 22nd Floor Premises to Tenant, and Tenant shall
be deemed to have accepted possession of the 22nd Floor Premises, on the 22nd Floor Premises
Commencement Date. As the 22nd Floor Sublease is scheduled to expire at 11:59 P.M. on August 30,
2010, Landlord hereby consents to Tenant’s continued occupancy of the 22nd Floor Premises pursuant
to the 22nd Floor Sublease for the period commencing at 12:00 Midnight on August 31, 2010 and
ending at 11:59 P.M. on August 31, 2010, immediately following which the Term hereof in respect of
the 22nd Floor Premises shall commence as herein provided. Tenant shall have no obligation to pay
Landlord Rent for its use and occupancy of the 22nd Floor Premises on August 31, 2010, provided
that Tenant understands and agrees that (x) Wilmer shall not be released from its lease obligations
with respect to such date, and (y) Landlord makes no representation or warranty whatsoever that
Wilmer will not charge Tenant rent with respect to such date pursuant to the 22nd Floor Sublease.

          (b) The Agreed Area of Premises in respect of the 22nd Floor Premises shall be deemed to be
19,806 rentable square feet.

          (c) The Fixed Rent payable in respect of the 22nd Floor Premises shall be at the rate of (i)
$1,485,450.00 per annum ($123,787.50 per month) for the First Rental Period, and (ii) $1,584,480.00
per annum ($132,040.00 per month) for the Second Rental Period, payable in the same manner and
times as Fixed Rent for the remainder of the Premises.

          (d) Following the 22nd Floor Premises Commencement Date, Tenant shall make additional payments
on account of Real Estate Taxes and Operating Expenses with respect to the 22nd Floor Premises in
accordance with Article 8, except that Tenant’s Proportionate Share in respect of the 22nd
Floor Premises shall be 2.658 percent in respect of Operating Expenses and 2.566 percent in respect
of Taxes.

          (e) Landlord shall not be obligated to perform any work with respect to the 22nd Floor
Premises or make any contribution to Tenant to prepare such 22nd Floor Premises for Tenant’s
continued occupancy, except that Landlord shall provide Tenant with a tenant allowance in respect
of the 22nd Floor Premises equal to $297,090 (the “22nd Floor Premises Contribution”),
which tenant allowance shall be disbursed by Landlord to Tenant pursuant to the terms of
Section 4.2 and may be used in any portion of the Premises, except that (i) each reference
therein to Premises shall be deemed to mean the 22nd Floor Premises or any other

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portion of the Premises (including, without limitation, the 17th Floor Premises), (ii) each
reference therein to the Initial Installations shall be deemed to mean the work to be performed by
Tenant in connection with Tenant’s occupancy of the 22nd Floor Premises or any other portion of the
Premises (including, without limitation, the 17th Floor Premises) and (iii) each reference therein
to Landlord’s Contribution shall be deemed to mean the 22nd Floor Premises Contribution..

          (f) Following the 22nd Floor Premises Commencement Date, the 22nd Floor Premises shall be
added to and be deemed to be a part of the Premises for all purposes of this Lease (except as
otherwise provided in this Article 41).

          (g) Notwithstanding the foregoing, provided that Tenant shall not then be in default beyond
the expiration of any applicable notice and cure periods set forth in this Lease of any of the
terms, conditions or covenants contained in this Lease, Tenant’s obligation to pay Fixed Rent in
respect of the 22nd Floor Premises shall be abated for the period commencing on the 22nd Floor
Premises Commencement Date and ending on the two month anniversary of the 22nd Floor Premises
Commencement Date, both dates inclusive.

          (h) Landlord shall provide HVAC to the 22nd Floor Premises in accordance with Section
11.3 hereof, except that Landlord shall provide up to 400 hours of HVAC to the 22nd Floor
Premises during Overtime Periods each calendar year without additional charge therefor. Landlord
shall charge Tenant $200 per hour for any HVAC that Landlord provides the 22nd Floor Premises
during Overtime Periods in excess of the 400 hours referred to above.

ARTICLE 42

17th floor premises

     Section 42.1 (a) Commencing on the date that Landlord Substantially Completes the work
described on Exhibit C annexed hereto (the “17th Floor Premises Work”) and
delivers vacant possession of the 17th Floor Premises (as defined below) to Tenant (the “17th
Floor Premises Commencement Date”) and ending on the Expiration Date, Landlord shall lease to
Tenant, and Tenant shall hire from Landlord, the entire 17th floor of the Building (the “17th
Floor Premises”), and the 17th Floor Premises shall be added to the Premises, upon and subject
to the terms of this Article 42. Landlord shall not be liable for failure to deliver
possession of the 17th Floor Premises to Tenant on any specified date, and such failure shall not
impair the validity of this Lease. Landlord shall be deemed to have delivered possession of the
17th Floor Premises to Tenant upon the giving of notice by Landlord to Tenant stating that the 17th
Floor Premises are vacant, available for Tenant’s occupancy and in the condition required by this
Article and such notice is factually correct. Landlord shall provide Tenant with at least 10 days’
(30 days’ in the event that the current lease of the 17th Floor Premises terminates prior to June
30, 2010) prior notice of the date Landlord reasonably anticipates will be the 17th Floor Premises
Commencement Date. There shall be no postponement of the 17th Floor Premises Commencement Date for
any delay in the delivery of possession of the 17th Floor Premises to Tenant to the extent such
delay results from any Tenant Delay. The provisions of this paragraph are intended to constitute
“an express provision to the contrary” within the meaning of Section 223-a of the New York Real
Property Law or any successor Requirement. Notwithstanding any provision of this Section
42.1 to the contrary, if the current tenant of the 17th Floor Premises or any party claiming
through such tenant holds over in such space beyond

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30 days after the expiration date of the current tenant’s lease of such space, Landlord agrees
to commence and diligently prosecute against such tenant a holdover proceeding to obtain possession
of such space. If Landlord fails to deliver vacant possession of the 17th Floor Premises in
accordance with the terms of this Lease prior to August 1, 2011 (the “17th Floor Premises
Outside Delivery Date”), Tenant shall have the right within 30 days after the 17th Floor
Premises Outside Delivery Date, as its sole and exclusive remedy therefor, to cancel this Lease in
respect of the 17th Floor Premises by giving notice of cancellation to Landlord. If Tenant timely
delivers the aforesaid cancellation notice, this Lease in respect of the 17th Floor Premises shall
terminate 30 days after the date of such notice, unless Landlord delivers vacant possession of the
17th Floor Premises in the condition required by this Lease within 30 days after Tenant gives such
cancellation notice in respect of the 17th Floor Premises, in which case Tenant’s cancellation
notice shall be void and this Lease in respect of the 17th Floor Premises shall continue in full
force and effect. Failure by Tenant to exercise such right to cancel this Lease with respect to
the 17th Floor Premises within such 30-day period shall constitute a waiver of such right; time
being of the essence with respect thereto. Landlord represents and warrants to Tenant that the
current lease of the 17th Floor Premises expires by its terms on June 30, 2010 and there are no
renewal options or other occupancy rights in favor of any third party applicable to such space
following such expiration date. Landlord estimates that, if the current tenant leasing the 17th
Floor Premises timely vacates the 17th Floor Premises, Landlord shall Substantially Complete the
17th Floor Premises Work and deliver possession of the 17th Floor Premises on or about August 1,
2010 (without liability to Tenant in the event that Landlord fails to do so). Upon Tenant’s
request from time to time, Landlord shall advise Tenant of Landlord’s progress in performing the
17th Floor Premises Work. In the event that Landlord obtains possession of the 17th Floor Premises
prior to the scheduled expiration date of the current lease, Landlord shall notify Tenant thereof
and provide Tenant with Landlord’s best estimate of the 17th Floor Premises Commencement Date.

          (b) Tenant has inspected the 17th Floor Premises and agrees (A) subject to completion of the
17th Floor Premises Work and Landlord’s Asbestos Work, to accept possession of the 17th Floor
Premises vacant but otherwise in the “as is” condition existing on the 17th Floor Premises
Commencement Date, (B) that neither Landlord nor Landlord’s agents have made any representations or
warranties with respect to the 17th Floor Premises or the Building except as expressly set forth
herein, and (C) except for Landlord’s 17th Floor Premises Contribution, Landlord’s Asbestos Work
and the 17th Floor Premises Work, Landlord has no obligation to perform any work, supply any
materials, incur any expense or make any alterations or improvements to the 17th Floor Premises to
prepare the 17th Floor Premises for Tenant’s initial occupancy. Tenant’s occupancy of any part of
the 17th Floor Premises shall be conclusive evidence, as against Tenant, that (1) Landlord has
Substantially Completed 17th Floor Premises Work, (2) Tenant has accepted possession of the 17th
Floor Premises in their then current condition, and (3) the 17th Floor Premises are in a good and
satisfactory condition as required by this Lease.

          (c) The Agreed Area of Premises in respect of the 17th Floor Premises shall be deemed to be
32,364 rentable square feet.

          (d) The Fixed Rent payable in respect of the 17th Floor Premises shall be at the rate of (i)
$2,427,300.00 per annum ($202,275.00 per month) for the period commencing on the 17th Floor
Premises Commencement Date and ending on the last day of the First Rental Period, and (ii)
$2,589,120.00 per annum ($215,760.00 per month) for the Second Rental Period, payable in the same
manner and times as Fixed Rent for the remainder of the Premises.

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          (e) Following the 17th Floor Premises Commencement Date, Tenant shall make additional payments
on account of Real Estate Taxes and Operating Expenses with respect to the 17th Floor Premises in
accordance with Article 8, except that Tenant’s Proportionate Share in respect of the 17th
Floor Premises shall be 4.343 percent in respect of Operating Expenses and 4.194 percent in respect
of Taxes.

          (f) Landlord shall not be obligated to perform any work with respect to the 17th Floor
Premises or make any contribution to Tenant to prepare such 17th Floor Premises for Tenant’s
initial occupancy, except for the 17th Floor Premises Work and except that Landlord shall provide
Tenant with a tenant allowance in respect of the 17th Floor Premises equal to $2,103,660 (“17th
Floor Premises Contribution”), which tenant allowance shall be disbursed by Landlord to Tenant
pursuant to the terms of Section 4.2 and may be used in any portion of the Premises except
that (i) each reference therein to Premises shall be deemed to mean the 17th Floor Premises and any
other portion of the Premises, (ii) each reference therein to the Initial Installations shall be
deemed to mean the work to be performed by Tenant in connection with Tenant’s occupancy of the 17th
Floor Premises or any other portion of the Premises, and (iii) each reference therein to Landlord’s
Contribution shall be deemed to mean the 17th Floor Premises Contribution.

          (g) Following the 17th Floor Premises Commencement Date, Tenant shall be entitled to receive
up to an additional 60 tons of condenser water in connection with Tenant’s independent supplemental
air-conditioning units serving the 17th Floor Premises. In addition, Landlord shall not charge
Tenant any tap-in fee in connection with such additional tons of condenser water.

          (h) On 17th Floor Premises Commencement Date, the 17th Floor Premises shall be added to, and
be deemed to be a part of, the Premises for all purposes of this Lease (except as otherwise
provided in this Article 42).

          (i) Notwithstanding the foregoing, provided that Tenant shall not then be in default beyond
the expiration of any applicable notice and cure periods set forth in this Lease of any of the
monetary terms, conditions or covenants contained in this Lease, Tenant’s obligation to pay Fixed
Rent in respect of the 17th Floor Premises shall be abated for the period commencing on the 17th
Floor Premises Commencement Date and ending on the ten month anniversary of the 17th Floor Premises
Commencement Date, both dates inclusive, and immediately thereafter in the amount of $1,356,850 for
the period commencing on the ten month anniversary of the 17th Floor Commencement Date and
continuing thereafter until such amount is fully credited against the Fixed Rent payable in respect
of the 17th Floor Premises.

          (j) Upon request by either party made on or following the 17th Floor Premises Commencement
Date, the parties will execute, acknowledge and deliver to each other an amendment to this Lease
setting forth such 17th Floor Premises Commencement Date, and reflecting the incorporation of such
17th Floor Premises into the Premises and the modifications to this Lease resulting therefrom, as
provided in this Article 42. The failure of either party to execute and deliver such
amendment shall not affect the rights of the parties under this Lease.

          (k) Prior to the 17th Floor Premises Commencement Date, Landlord shall use reasonable efforts
to provide Tenant access to the 17th Floor Premises for the purpose of making field measurements
and surveys, subject to the rights of the existing tenant currently occupying the 17th Floor
Premises.

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          (l) Landlord shall redistribute or furnish electricity to or for the use of Tenant in the 17th
Floor Premises for the operation of Tenant’s electrical systems and equipment in the 17th Floor
Premises in accordance with Article 16 of this Lease, except that Landlord shall, subject
to the last sentence of this Section 42.1(l), redistribute or furnish electricity to or
for the use of Tenant in the 17th Floor Premises for the operation of Tenant’s electrical systems
and equipment in the 17th Floor Premises, at a level sufficient to accommodate a demand load of
eight watts (rather than six watts) of electricity per useable square foot of office space in the
17th Floor Premises (exclusive of electricity required to operate any Building System), provided
that Tenant may only use up two watts of such eight watts of electricity to operate its
supplemental air-conditioning system serving the 17th Floor Premises and for no other purpose.
Tenant shall pay for such electric current in the manner set forth in Article 16. Landlord
shall install a meter or meters, at Landlord’s expense, to measure Tenant’s consumption of
electricity in the 17th Floor Premises, which meter(s) shall be maintained by Landlord, at Tenant’s
expense. Tenant shall prior to the 17th Floor Premises Commencement Date provide Landlord with a
load letter reasonably satisfactory to Landlord from an electrical engineer reasonably satisfactory
to Landlord demonstrating its need for such additional 2 watts of electricity per usable square
foot as provided above.

          (m) Notwithstanding anything to the contrary contained herein, if in connection with the
performance of any Initial Installations in any portion of the 17th Floor Premises after the 17th
Floor Commencement Date, Requirements mandate that asbestos or asbestos containing material located
in such portion of the 17th Floor Premises as of the 17th Floor Premises Commencement Date be
abated, removed, or encapsulated, Landlord shall perform such work to comply with Requirements
(“Landlord’s Asbestos Work”), provided (i) such work does not require abatement,
encapsulation, or removal of any asbestos-containing materials located in the Building’s core or
perimeter, behind perimeter heating units or in shafts, perimeter columns, wet stacks or in the
mechanical and fan rooms not demised to Tenant, and (ii) such Initial Installations are being
performed by Tenant in accordance with approved plans. Tenant shall use commercially reasonable
efforts to minimize the extent of such abatement (e.g., if Tenant has a choice of penetrating into
one of two wet columns and one does not contain asbestos, and choosing one over the other does not
materially adversely affect Tenant, then Tenant should penetrate the column without asbestos). In
the event Landlord is required to perform Landlord’s Asbestos Work as aforesaid, Landlord shall
perform the same at a time to be mutually agreed upon by Landlord and Tenant. Tenant will afford
Landlord and its employees, contractors and agents access to the area of the 17th Floor Premises
requiring abatement at all reasonable times for the performance of Landlord’s Asbestos Work and for
the storage of materials reasonably required in connection therewith, and Tenant will avoid any
interference by any Tenant Party with the performance of such work. Upon Landlord’s request, all
Tenant Parties shall vacate the 17th Floor Premises to the extent necessary during the performance
of Landlord’s Asbestos Work (and Landlord shall not be obligated to perform Landlord’s Asbestos
Work if any Tenant Party fails to do so) and Tenant shall, at Tenant’s sole cost and expense,
remove or relocate Tenant’s Property in the 17th Floor Premises to the extent necessary during the
performance of Landlord’s Asbestos Work so as not to interfere with the performance of Landlord’s
Asbestos Work and to protect same against damage or loss during the performance of Landlord’s
Asbestos Work (and Landlord shall not be obligated to perform Landlord’s Asbestos Work until the
Tenant Parties do so). There shall be no Rent abatement or allowance to Tenant or a diminution of
rental value, no delay of the 17th Floor Premises Commencement Date, no actual or constructive
eviction of Tenant, in whole or in part, no relief from any of Tenant’s other obligations under
this Lease, and no liability on the part of

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Landlord, by reason of inconvenience, delay, annoyance or injury to business or to Tenant’s
installations or Tenant’s Property in the 17th Floor Premises arising from the performance of
Landlord’s Asbestos Work or the storage of any materials in connection therewith.

ARTICLE 43

 HVAC EQUIPMENT

     Section 43.1  HVAC Equipment. Subject to the provisions of any reasonable Rules and
Regulations of the Building now or hereafter in effect, Tenant (and any subtenants permitted
hereunder) shall have a license, without any separate license fee, to use a portion of the setback
of the Building identified on Exhibit H to this Lease (the “HVAC Space”) for the
installation of up to two air cooled condenser units, and related equipment (including, without
limitation, electrical equipment installed subject to the terms of this Lease) used for the purpose
of furnishing heating, cooling and ventilation to the 17th Floor Premises (the “HVAC
Equipment”). The HVAC Equipment may not be connected to, or interfere in any way with the
proper functioning of any Building System. Tenant shall install the HVAC Equipment at its sole cost
and expense and in accordance with plans and specifications prepared by Tenant and approved in
advance of installation by Landlord and, if Landlord so elects, by a structural engineer retained
by Landlord at Tenant’s sole but reasonable cost and expense. Any penetration of the setback
membrane or structure shall be performed by Landlord, or by a contractor under the supervision of
Landlord, at Tenant’s sole but reasonable cost and expense. Tenant shall, together with the
submission of any plans and specifications required to be submitted for Landlord’s approval
pursuant to Article 5 of this Lease, submit to Landlord “cut sheets” detailing the
placement and manner of installation of the HVAC Equipment for approval by Landlord. Without in any
way limiting Landlord’s right to withhold its approval of Tenant’s installation plans and
specifications, Landlord reserves the absolute right to withhold its approval of Tenant’s
installation plans and specifications if Landlord or Landlord’s structural engineer reasonably
determines that installation in accordance with such plans and specifications would be likely to
harm or compromise, or threaten to harm or compromise the soundness and integrity of the structural
components of the Building. In such event however, Landlord shall cooperate with Tenant to
determine an alternative method of installation of the HVAC Equipment which will be reasonably
satisfactory to Landlord’s structural engineer. The HVAC Equipment shall be installed by a
qualified contractor approved in advance by Landlord and subject to the ongoing review of
Landlord’s structural engineer. Such installation shall be performed in a good and workmanlike
manner, in compliance with all Requirements, and in accordance with all terms and conditions of
Articles 5 and 12 of this Lease. Prior to any installation of the HVAC Equipment,
Tenant shall, at Tenant’s expense furnish to Landlord the insurance required by Section
5.1(b). Tenant shall cause any installation of the HVAC Equipment to be performed at such times
as will not interfere with the use of the Building by other tenants and occupants (including
Landlord) of the Building, it being understood that such work may be performed on Saturdays, and
Tenant shall not commence the installation of the HVAC Equipment unless and until Landlord approves
in writing a schedule detailing the time and manner of such installation, which approval shall not
be unreasonably withheld or delayed.

     Section 43.2 Noise; Screening. Tenant’s HVAC Equipment shall be designed, installed
and mounted in a manner which will not permit the transmission of sounds to areas within the
Building in excess of a “NC” noise criterion environment which is equal to 45 decibels

83

 

in any area of the Building contiguous to, above or below the HVAC equipment. Tenant shall screen
the HVAC Equipment in a manner reasonably satisfactory to Landlord.

     Section 43.3 The HVAC Equipment. The HVAC Equipment shall be deemed to be a Specialty
Alteration. Upon the Expiration Date, or upon any earlier termination of this Lease, the HVAC
Equipment (i) shall be removed by Tenant unless Landlord notifies Tenant otherwise and (ii) Tenant
shall, upon such removal, restore the portion of the Building’s setback where the HVAC Equipment
was located to the condition the same was in prior to the installation of the HVAC Equipment, in
each case, at Tenant’s sole cost and expense, in accordance with the provisions of Section
5.3 of this Lease.

     Section 43.4 Maintenance. Tenant shall service, repair, paint and maintain the HVAC
Equipment and keep the same in good working order, condition, and repair, to Landlord’s reasonable
satisfaction.

     Section 43.5 Signs. No signs, whether temporary or permanent, shall be affixed,
installed or attached to the HVAC Equipment or the HVAC Space other than those required by
Requirements. All signs required, if any, and the location thereof, shall be first approved by
Landlord.

     Section 43.6 Compliance. In the performance of any installation, alteration, repair,
maintenance, removal and/or any other work with respect to the HVAC Space or the HVAC Equipment,
Tenant shall comply with all of the applicable provisions of this Lease, including, but not limited
to, those set forth in Articles 5, 6, 7, 8, 9, 12,
17 and 32, and the obligations of Tenant under this Lease shall be applicable to
the HVAC Space as if the HVAC Space were part of the Premises. Tenant shall procure any permits,
certificates, licenses or approvals required for the operation and use of the HVAC Equipment and
shall provide them to Landlord, upon reasonable request therefor, for Landlord’s inspection.

     Section 43.7 Fees and Expenses. Any and all taxes, filing fees, charges or license
fees imposed upn Landlord by virtue of the existence and/or use of the HVAC Equipment (including
those shown to be related to any increases in the assessed valuation of the Building attributable
to the HVAC Equipment), whether imposed by any local, state and/or federal government or any agency
thereof, shall be exclusively borne by Tenant.

     Section 43.8 Access to HVAC Equipment. Tenant shall have access to the HVAC Space
for the sole purpose of servicing and maintaining the HVAC Equipment. At all other times, Landlord
may keep the entrances to the HVAC Space locked. Tenant shall not have any tools and/or materials
stored in the HVAC Space, and Tenant’s employees and independent contractors shall close and lock
the doors or gates to the HVAC Space when leaving the same. Except in the case of emergency, Tenant
must give Landlord reasonable advance notice of its intent to enter the HVAC Space, together with
the names of the persons accessing the HVAC Space, the reasons for entry and the expected duration
of the work to be performed.

     Section 43.9 Inspections of HVAC Equipment. Throughout the duration of this Term,
Tenant shall inspect the HVAC Equipment at least once a month. The HVAC Equipment shall not exceed
the load-bearing capacity of the HVAC Space. Testing of the HVAC Equipment shall be performed
during non-Ordinary Business Hours exclusive of Sundays not more often than once each week if
Tenant is not the sole office tenant of the entire Building, unless there are extenuating
circumstances in which event, Tenant shall notify Landlord of the need for

84

 

additional testing. Tenant shall notify Landlord at least three (3) days prior to testing the HVAC
Equipment and Tenant shall comply with all Requirements applicable thereto.

     Section 43.10 Relocation of HVAC Equipment. (a) If, at any time during the Term,
Landlord, in its reasonable judgment, shall determine that it is necessary to move the HVAC
Equipment to another area of the Building, then Landlord may give notice thereof to Tenant (which
notice shall have annexed thereto a plan on which such other area (the “Substitute Space”)
shall be substantially identified by hatching or otherwise). Within 30 days of receipt of
Landlord’s notice (or, if a governmental permit is required to be obtained for installation of the
HVAC Equipment in the Substitute Space, then, within 30 of the obtaining of such permit, which
Tenant shall make prompt application for, with Landlord’s reasonable cooperation), Landlord, at its
sole cost (but subject to recoupment pursuant to Article 8 above), shall move the HVAC
Equipment to the Substitute Space which shall then become the HVAC Space hereunder and the original
HVAC Space shall be deleted from the coverage of this Lease. The Substitute Space shall be
comparable to the HVAC Space (including, without limitation, in respect of its functionality) and
shall not increase Tenant’s cost of maintaining the HVAC Equipment.

          (b) Tenant’s operation or use of the HVAC Equipment shall not prevent or interfere with the
operation or use of any equipment (existing as of the date hereof) of any existing tenant or
occupant of the Building or of Landlord. If, at any time during the Term, Landlord shall determine
that the HVAC Equipment causes interference with other existing equipment (existing as of the date
hereof), then Landlord may so notify Tenant, and Tenant shall promptly take all steps necessary to
eliminate such interference.

     Section 43.11 No Landlord Warranty. Tenant agrees that Landlord has made no
warranties or representations as to the condition or suitability of the HVAC Space or the Building
for the installation, use, maintenance or operation of the HVAC Equipment, and Tenant agrees to
accept same in its “as is” condition and without any work or alterations to be made by Landlord.

85

 

          IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease as of the day and year first
above written.

	 	 	 	 	 
	 	300 PARK AVENUE INC., Landlord

 	 
	 	By:  	/s/ Steven R. Wechsler
 	 
	 	 	Name:  	Steven R. Wechsler 	 
	 	 	Title:  	Senior Managing Director 	 
	 
	 	GREENHILL & CO. INC., Tenant

 	 
	 	By:  	/s/ Harold J. Rodriguez, Jr.
 	 
	 	 	Name:  	Harold J. Rodriguez, Jr. 	 
	 	 	Title:  	Chief Administrative Officer
 	 
	 	

Tenant’s Federal Identification Number:

51-0500737 	 
	 

86

 

ACKNOWLEDGMENT

	 	 	 	 	 
	STATE OF NEW YORK

	 	)	 	 
	 

	 	) s.s.:	 	 
	COUNTY OF NEW YORK

	 	)	 	 

     On this ___ day of June, in the year 2009 before me, the undersigned, a Notary Public in and
said State, personally appeared _____________________, personally known to me or proved to me on
the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the
within instrument and acknowledged to me that he/she/they executed the same in his/her/their
capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the
person upon behalf of which the individual(s) acted, executed the instrument.

	 	 	 	 	 
	 	 	 
	 	  	 	 
	 	 	Notary Public 	 
	 	 	 	 
	 

87

 

EXHIBIT A

FLOOR PLANS

     The floor plans which follow are intended solely to identify the general location of the
Premises, and should not be used for any other purpose. All areas, dimensions and locations are
approximate, and any physical conditions indicated may not exist as shown.

See Attached

A-1

 

EXHIBIT B

DEFINITIONS

     Affiliate: With respect to any Person, any other Person that, directly or indirectly
(through one or more intermediaries), Controls, is Controlled by, or is under common Control with,
such first Person.

     Base Rate: The annual rate of interest publicly announced from time to time by
Citibank, N.A., or its successor, in New York, New York as its “base rate” (or such other term as
may be used by Citibank, N.A., from time to time, for the rate presently referred to as its “base
rate”).

     Building Systems: The mechanical, electrical, plumbing, sanitary, sprinkler, heating,
ventilation and air conditioning, security, life-safety, elevator and other service systems or
facilities of the Building up to (but not including) the point of localized distribution to the
Premises (excluding, however, supplemental HVAC systems of tenants (including Tenant), sprinklers
and the horizontal distribution systems within and servicing the Premises and by which mechanical,
electrical, plumbing, sanitary, heating, ventilating and air conditioning, security, life-safety
and other service systems are distributed from the base Building risers, feeders, panelboards, etc.
for provision of such services to the Premises).

     Business Days: All days, excluding Saturdays, Sundays and all days observed by either
the State of New York, the Federal Government or the labor unions servicing the Building as
holidays.

     Code: The Internal Revenue Code of 1986, as amended, and the regulations promulgated
thereunder.

     Consumer Price Index: The Consumer price Index for All Urban Customers, CPI-U,
published by the Bureau of Labor Statistics of the United States Department of Labor, New York —
Northern New Jersey — Long Island, NY-NJ-CT Area ‘All Items’ (1982-84=100), or any successor index
thereto covering New York City, appropriately adjusted. In the event that the Consumer Price Index
is converted to a different standard reference base or otherwise revised, the determination of
adjustments provided for herein shall be made with the use of such conversion factor, formula or
table for converting the Consumer Price Index as may be published by the Bureau of Labor
Statistics, or, if said Bureau shall not publish the same, then with the use of such conversion
factor, formula or table as may be published by Prentice-Hall, Inc., or any other nationally
recognized publisher of similar statistical information. If the Consumer Price Index ceases to be
published, and there is no successor thereto, such other index as Landlord shall select and Tenant
shall approve, such approval not to be unreasonably withheld, shall be substituted for the Consumer
Price Index.

     Control: (i) (a) The ownership, directly or indirectly, of more than 50% of the
voting stock of a corporation, or (b) in the case of any Person which is not a corporation, the
ownership, directly or indirectly, of more than 50% of the beneficial ownership interest in such
Person, or (ii) in the case of any such Person, the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of such Person.

 

 

     Cost Per Kilowatt Hour: (a) The total cost for electricity incurred by Landlord to
service the Building during a particular billing period (including energy charges, demand charges,
surcharges, time-of-day charges, fuel adjustment charges, rate adjustment charges, taxes, rebates
and any other factors used by the public utility company in computing its charges to Landlord),
divided by (b) the total kilowatt hours purchased by Landlord to provide electricity to the
Building during such period.

     Deficiency: The difference between (a) the Fixed Rent and Additional Rent for the
period which otherwise would have constituted the unexpired portion of the Term (assuming the
Additional Rent for each year thereof to be the same as was payable for the year immediately
preceding such termination or re-entry), and (b) the net amount, if any, of rents collected under
any reletting effected pursuant to the provisions of this Lease for any part of such period (after
first deducting from such rents all expenses incurred by Landlord in connection with the
termination of this Lease, Landlord’s re-entry upon the Premises and such reletting, including
repossession costs, brokerage commissions, attorneys’ fees and disbursements, and alteration
costs).

     Excluded Expenses: (a) Taxes; (b) franchise or income taxes imposed upon Landlord; (c)
mortgage amortization and interest and related fees and costs in connection with financing or
refinancing the Building; (d) leasing commissions; (e) the cost of tenant installations and
decorations incurred in connection with preparing space for any Building tenant, including
workletters and concessions; (f) ground rent, if any; (g) wages, salaries and benefits paid to any
persons above the level of the immediate supervisor of the Building Manager and excluding the
wages, salaries and benefits of such supervisor to the extent such supervisor provides services to
buildings other than the Building; (h) legal and accounting fees relating to (A) disputes with
tenants, prospective tenants or other occupants of the Building, (B) disputes with purchasers,
prospective purchasers, mortgagees or prospective mortgagees of the Building or the Real Property
or any part of either, or (C) negotiations of leases, contracts of sale or mortgages; (i) costs of
services provided to other tenants of the Building on a “rent-inclusion” basis which are not
provided to Tenant on such basis; (j) costs that are reimbursed out of insurance, warranty or
condemnation proceeds, or which are reimbursable by Tenant or other tenants other than pursuant to
an expense escalation clause; (k) costs in the nature of penalties or fines; (l) costs for
services, supplies or repairs paid to any related entity in excess of costs that would be payable
in an “arm’s length” or unrelated situation; (m) allowances, concessions or other costs and
expenses of improving or decorating any demised or demisable space in the Building; (n) advertising
and promotional expenses in connection with leasing of the Building; (o) the costs of installing,
operating and maintaining a specialty improvement, including a cafeteria, lodging or private dining
facility, or an athletic, luncheon or recreational club unless Tenant is permitted to make use of
any such facility without additional cost or on a subsidized basis consistent with other users; (p)
any costs or expenses (including fines, interest, penalties and legal fees) arising out of
Landlord’s failure to timely pay Operating Expenses or Taxes; (q) costs incurred in connection with
the removal, encapsulation or other treatment of asbestos or any other Hazardous Materials existing
in the Premises as of the date hereof; (r) the cost of capital improvements other than those
expressly included in Operating Expenses pursuant to Section 8.1 of this Lease; (s) costs
of acquiring ownership of or leasing on a long term basis works of art other than the cost of
replacing existing art with art of comparable quality, maintaining, insuring and providing security
for art and installing and removing art; (t) the cost of maintaining, organizing or reorganizing
the entity that is Landlord; (u) Landlord’s overhead and general

 

 

corporate and general administrative expenses; (v) costs incurred with respect to a sale or
transfer of all or any portion of the Building or any interest therein or any person or entity of
whatever tier owning an interest therein; (w) the cost of electrical energy furnished directly to
Tenant and other tenants of the Building and to tenantable areas of the Building for purposes other
than the operation of Building equipment and machinery and the lighting of public toilets,
stairways, shaftways, and Building machinery or fan rooms; (x) any fee or expenditure paid (i) to
any Person which shall Control, be under the Control of, or be under common Control with Landlord,
or in which Landlord directly or indirectly owns not less than a fifty (50%) percent interest or
(ii) to any shareholder owning at least fifty (50%) percent of the common stock, any general
partner, any officer above the rank of vice president, or member of any Board of Directors of
Landlord or of any Person described in this clause (x) or (iii) to any person who is a relative by
blood (to the first degree of consanguinity, lineal or lateral) or marriage of any such persons, in
each case in excess of the amount which would be paid in the absence of such relationship; (y) all
charitable contributions and political contributions and all dues to professional and lobbying
associations (except those for REBNY and BOMA and any successor organizations thereto); (z) any bad
debt loss, rent loss, or reserves for bad debt or rent loss; (aa) costs of entertainment; and (bb)
the cost of any judgment, settlement, or arbitration award resulting from any liability of Landlord
which is the result of negligence or willful misconduct.

     Governmental Authority (Authorities): The United States of America, the City, County
or State of New York, or any political subdivision, agency, department, commission, board, bureau
or instrumentality of any of the foregoing, or any landmarks preservation agency (or other entity
designated or accepted for such purpose by any Governmental Authority or landmarks preservation
agency), now existing or hereafter created, having jurisdiction over the Real Property or any
portion thereof or the curbs, sidewalks, and areas adjacent thereto.

     Hazardous Materials: Any substances, materials or wastes currently or in the future
deemed or defined in any Requirements as “hazardous substances”, “toxic substances”,
“contaminants”, “pollutants” or words of similar import.

     HVAC Systems: The Building System designed to provide heating, ventilation and air
conditioning.

     Indemnitees: Landlord, Landlord’s Agent, each Mortgagee and Lessor, and each of their
respective direct and indirect partners, officers, shareholders, managers, directors, members,
trustees, beneficiaries, employees, principals, contractors, licensees, invitees, servants, agents
and representatives.

     Lessor: A lessor under a Superior Lease.

     Mortgage(s): Any mortgage, trust indenture or other financing document (including any
assignment of leases and rents) which may now or hereafter affect the Premises, the Real Property,
the Building or any Superior Lease and the leasehold interest created thereby, and all renewals,
extensions, supplements, amendments, modifications, consolidations and replacements thereof or
thereto, substitutions therefor, and advances made thereunder.

     Mortgagee(s): Any mortgagee, trustee or other holder of a Mortgage.

 

 

     Person: Any individual, corporation, partnership, limited liability company, limited
liability partnership, joint venture, estate, trust, unincorporated association, business trust,
tenancy-in common or other entity, or any Governmental Authority.

     Prohibited Use: Any use or occupancy of the Premises that in Landlord’s reasonable
judgment would be likely to: (a) cause damage to the Building, the Premises or any equipment,
facilities or other systems therein; (b) impair the appearance of the Premises or the Building; (c)
interfere with the efficient and economical maintenance, operation and repair of the Premises or
the Building or the equipment, facilities or systems thereof; (d) adversely affect any service
provided to, and/or the use and occupancy by, any Building tenant or occupants; (e) violate the
certificate of occupancy issued for the Premises or the Building or (f) adversely affect the image
of the Building as a first-class office location in midtown Manhattan. Prohibited Use also
includes the use of any part of the Premises for: (i) a restaurant or bar; (ii) the preparation,
consumption, storage, manufacture or sale of food or beverages (except in connection with vending
machines and/or warming kitchens installed for the use of Tenant’s employees only), liquor, tobacco
or drugs; (iii) the business of photocopying, multilith or offset printing (except photocopying in
connection with Tenant’s own business); (iv) a typing or stenography business; (v) a school or
classroom; (vi) lodging or sleeping; (vii) the operation of retail facilities (meaning a business
whose primary patronage arises from the generalized solicitation of the general public to visit
Tenant’s offices in person without a prior appointment) of a savings and loan association or retail
facilities of any financial, lending, securities brokerage or investment activity; (viii) a payroll
office; (ix) a barber, beauty or manicure shop; (x) an employment agency, executive search firm or
similar enterprise; (xi) offices of any Governmental Authority, any foreign government, the United
Nations, or any agency or department of the foregoing; (xii) the manufacture, retail sale, storage
of merchandise or auction of merchandise, goods or property of any kind to the general public which
could reasonably be expected to create a volume of pedestrian traffic substantially in excess of
that normally encountered in the Premises; (xiii) the rendering of medical, dental or other
therapeutic or diagnostic services; (xiv) a discount drug store or discount clothing store or a
“fast food” restaurant; or (xv) any illegal purposes or any activity constituting a nuisance.

     Requirements: All present and future laws, rules, orders, ordinances, regulations,
statutes, requirements, codes and executive orders, extraordinary and ordinary, of (i) all
Governmental Authorities, including the Americans With Disabilities Act, 42 U.S.C. §12101 (et
seq.), New York City Local Law 58 of 1987, and any law of like import, and all rules, regulations
and government orders with respect thereto, and any of the foregoing relating to Hazardous
Materials, environmental matters, public health and safety matters and landmarks preservation, (ii)
any applicable fire rating bureau or other body exercising similar functions, affecting the Real
Property or the maintenance, use or occupation thereof, or any street, avenue or sidewalk
comprising a part of or in front thereof or any vault in or under the same and (iii) all
requirements of all insurance bodies affecting the Premises.

     Rules and Regulations: The rules and regulations annexed to and made a part of this
Lease as Exhibit F, as they may be modified from time to time by Landlord.

     Specialty Alterations: Alterations consisting of kitchens, pantries, executive
bathrooms, raised computer floors, computer installations, safe deposit boxes, vaults, libraries or
file rooms requiring reinforcement of floors, internal staircases, conveyors, dumbwaiters, and
other Alterations of a similar character.

 

 

     Substantial Completion. As to any construction performed by any party in the
Premises, including the Initial Installations, any Alterations or Landlord’s Work, “Substantial
Completion” or “Substantially Completed” means that such work has been completed, as reasonably
determined by Landlord’s architect, in accordance with (a) the provisions of this Lease applicable
thereto, (b) the plans and specifications for such work, and (c) all applicable Requirements,
except for minor details of construction, decoration and mechanical adjustments, if any, the
non-completion of which does not materially interfere with Tenant’s use of the Premises or which,
in accordance with good construction practice, should be completed after the completion of other
work to be performed in the Premises (“Punch List Items”).

     Superior Lease(s): Any ground or underlying lease of the Real Property or any part
thereof heretofore or hereafter made by Landlord and all renewals, extensions, supplements,
amendments, modifications, consolidations, and replacements thereof.

     Tenant Delay: Any delay which results from any act or omission of any Tenant Party,
including delays due to changes in or additions to, or interference with any work to be done by
Landlord, or delays by Tenant in submission of information approving working drawings or estimates
or giving authorizations or approvals.

     Tenant Party: Any of Tenant, any Affiliate of Tenant, any subtenant or any other
occupant of the Premises, or any of their respective direct or indirect partners, officers,
shareholders, directors, members, trustees, beneficiaries, employees, principals, contractors,
licensees, invitees, visitors, servants, agents, or representatives.

     Tenant’s Property: Tenant’s movable fixtures and movable partitions, telephone and
other equipment, computer systems, trade fixtures, furniture, furnishings, and other items of
personal property which are removable without material damage to the Premises or Building.

     Unavoidable Delays: Landlord’s inability to fulfill or delay in fulfilling any of its
obligations under this Lease expressly or impliedly to be performed by Landlord or Landlord’s
inability to make or delay in making any repairs, additions, alterations, improvements or
decorations or Landlord’s inability to supply or delay in supplying any equipment or fixtures, if
Landlord’s inability or delay is due to or arises by reason of strikes, labor troubles or by
accident, or by any cause whatsoever beyond Landlord’s reasonable control, including Requirements,
laws, governmental preemption in connection with a national emergency, shortages, or unavailability
of labor, fuel, steam, water, electricity or materials, or delays caused by Tenant or other
tenants, mechanical breakdown, acts of God, enemy action, civil commotion, fire or other casualty.Exhibit 10.1

Exhibit 10.1

PURCHASE AGREEMENT

among

ASSOCIATED MATERIALS, LLC,

APOLLO INVESTMENT CORPORATION,

THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

and

GOLDMAN, SACHS & CO.

Dated as of June 16, 2009,

Relating to:

15% Senior Subordinated Notes Due 2012 of Associated Materials, LLC.

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	SECTION 1. DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	1.1 Definitions
	 	 	1	 
	1.2 Computation of Time Periods
	 	 	9	 
	1.3 Terms Generally
	 	 	9	 
	 
	 	 	 	 
	SECTION 2. AUTHORIZATION AND ISSUANCE OF NOTES
	 	 	9	 
	2.1 Authorization of Issue
	 	 	9	 
	2.2 Sale and Purchase of the Notes
	 	 	9	 
	2.3 Closing
	 	 	9	 
	 
	 	 	 	 
	SECTION 3. CONDITIONS TO CLOSING
	 	 	10	 
	3.1 Conditions to the Obligations of the Parties
	 	 	10	 
	3.2 Conditions to the Obligations of the Purchasers
	 	 	10	 
	3.3 Conditions to the Obligations of the Company
	 	 	12	 
	 
	 	 	 	 
	SECTION 4. REPRESENTATIONS AND WARRANTIES OF THE COMPANY
	 	 	12	 
	4.1 Organization
	 	 	12	 
	4.2 Due Authorization; Non-Contravention
	 	 	13	 
	4.3 Governmental Approval; Regulation
	 	 	13	 
	4.4 Validity
	 	 	13	 
	4.5 No Material Adverse Effect
	 	 	13	 
	4.6 Litigation
	 	 	13	 
	4.7 Labor Matters
	 	 	14	 
	4.8 Subsidiaries
	 	 	14	 
	4.9 Ownership of Properties
	 	 	14	 
	4.10 Taxes
	 	 	14	 
	4.11 Pension and Welfare Plans
	 	 	14	 
	4.12 Environmental Warranties
	 	 	15	 
	4.13 Accuracy of Information
	 	 	17	 
	4.14 Regulations U and X
	 	 	17	 
	4.15 Solvency
	 	 	17	 
	4.16 Private Offering; No Integration or General Solicitation; Rule 144A Eligibility
	 	 	17	 
	4.17 Affiliate Transactions
	 	 	18	 
	4.18 Brokerage Fees
	 	 	18	 
	4.19 Fees
	 	 	18	 
	 
	 	 	 	 
	SECTION 5. REPRESENTATIONS, WARRANTIES AND AGREEMENTS OF THE PURCHASERS
	 	 	18	 
	5.1 Purchase for Investment
	 	 	18	 
	 
	 	 	 	 
	SECTION 6. COVENANT REGARDING REFINANCING
	 	 	19	 
	6.1 Existing Note Refinancing
	 	 	19	 

 

 

 

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	SECTION 7. TERMINATION
	 	 	20	 
	7.1 By Mutual Consent
	 	 	20	 
	7.2 By Purchasers
	 	 	20	 
	7.3 By the Company
	 	 	21	 
	7.4 Failure to Close
	 	 	21	 
	7.5 Effects of Termination
	 	 	21	 
	 
	 	 	 	 
	SECTION 8. INDEMNIFICATION AND CONTRIBUTION
	 	 	21	 
	8.1 Expenses
	 	 	21	 
	8.2 Indemnification
	 	 	22	 
	8.2 Waiver of Punitive Damages
	 	 	22	 
	8.3 Survival
	 	 	22	 
	8.4 Tax Treatment of Indemnification Payments
	 	 	22	 
	 
	 	 	 	 
	SECTION 9. MISCELLANEOUS
	 	 	22	 
	9.1 Disclosure of Transactions and Other Material Information
	 	 	22	 
	9.2 Notices
	 	 	23	 
	9.3 Benefit of Agreement; Assignments and Participations
	 	 	23	 
	9.4 No Waiver; Remedies Cumulative
	 	 	24	 
	9.5 Amendments, Waivers and Consents
	 	 	24	 
	9.6 Counterparts
	 	 	24	 
	9.7 Reproduction
	 	 	24	 
	9.8 Headings
	 	 	25	 
	9.9 Survival of Covenants and Indemnities
	 	 	25	 
	9.10 Governing Law; Submission to Jurisdiction; Venue
	 	 	25	 
	9.11 Severability
	 	 	26	 
	9.12 Entirety
	 	 	26	 
	9.13 Survival of Representations and Warranties
	 	 	26	 
	9.14 Construction
	 	 	26	 
	9.15 Incorporation
	 	 	26	 
	9.16 Intent to Limit Interest to Maximum
	 	 	26	 
	9.17 Confidentiality
	 	 	27	 
	9.18 No Personal Obligations
	 	 	27	 
	9.19 Home Office Payment
	 	 	27	 
	 
	 	 	 	 
	EXHIBITS:
	 	 	 	 
	 
	 	 	 	 
	Exhibit A  —  Indenture
	 	 	 	 
	 
	 	 	 	 
	SCHEDULES:
	 	 	 	 
	 
	 	 	 	 
	Schedule 2.2     —   Information Relating to Purchasers
	 	 	 	 
	Schedule 4.2     —    Due Authorization; Non-Contravention
	 	 	 	 
	Schedule 4.8      —    Subsidiaries
	 	 	 	 
	Schedule 4.12    —   Environmental Warranties
	 	 	 	 
	Schedule 4.18    —    Brokerage Fees
	 	 	 	 

 

 

 

PURCHASE AGREEMENT

PURCHASE AGREEMENT, dated as of June 16, 2009, by and among Associated Materials, LLC., a
Delaware limited liability company (together with its successors and permitted assigns, the
“Company”), Apollo Investment Corporation, a Maryland corporation (together with its
successors and permitted assigns, “Apollo”), The Northwestern Mutual Life Insurance
Company, a Wisconsin corporation (together with its successors and permitted assigns,
“Northwestern Mutual”) and Goldman, Sachs & Co., a New York limited partnership (together
with its successors and permitted assigns, “Goldman”, and together with Apollo and
Northwestern Mutual, the “Purchasers”).

RECITALS

WHEREAS, the Company desires to issue to the Purchasers, upon the terms and subject to the
conditions set forth in this Agreement and the Indenture, $20,000,000 in aggregate original
principal amount of the Company’s 15.00% Senior Subordinated Notes Due 2012 (the “Notes”);
and

WHEREAS, the Purchasers desire to purchase the Notes from the Company upon the terms and
subject to the conditions set forth in this Agreement and the Indenture.

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements
herein contained, and intending to be legally bound hereby, the parties agree as follows:

SECTION 1.

DEFINITIONS AND ACCOUNTING TERMS

1.1 Definitions. As used herein, the following terms shall have the meanings
specified herein unless the context otherwise requires:

“8-K Filing” is defined in Section 9.1.

“ABL Facility” means the Loan and Security Agreement, dated as of October 3, 2008, by
and among the Company and Gentek Building Products, Inc., as U.S. Borrowers, Gentek, as Canadian
Borrower, Associated Materials Holdings, LLC, Gentek Holdings, LLC and Alside, Inc., as Guarantors,
the lenders and issuing bank from time to time party thereto, Wachovia Bank, National Association,
as administrative and collateral agent, Wachovia Capital Markets, LLC and CIT Capital Securities,
LLC, as joint lead arrangers and joint lead bookrunners, and The CIT Group/Business Credit, Inc.,
as syndication agent.

“Accredited Investor” means any Person that is an “accredited investor” within the
meaning of Rule 501(a) under the Securities Act.

“Affiliate” is defined in the Indenture.

“Agreement” is defined in Section 9.5.

 

 

 

“Amended ABL Facility” means the ABL Facility, as amended in connection with the Note
Refinancing.

“AMH” means AMH Holdings, LLC, a Delaware limited liability company, and its
successors.

“AMH II” means AMH Holdings II, Inc., a Delaware corporation, and its successors.

“Apollo” is defined in the Preamble.

“Applicable Law” means as to any Person, the articles or certificate of incorporation
and by-laws or other organizational or governing documents of such Person, and all laws, statutes,
treaties, rules, codes (including building codes), ordinances, regulations, certificates, orders
and licenses of, and legally binding interpretations by, any Governmental Authority and judgments,
decrees, injunctions, writs, permits, orders or like governmental action of any Governmental
Authority (including, without limitation, Environmental Laws) applicable to such Person or any of
its Subsidiaries or any of their property, assets or operations.

“Business Day” means any day other than a Legal Holiday.

“Canadian Pension Plan” means (a) a “pension plan” or “plan” which is subject to
applicable pension benefits legislation in any jurisdiction of Canada and is applicable to
employees of the Company or any of its Subsidiaries resident in Canada, or (b) any pension benefit
plan or similar arrangement applicable to employees of the Company or any of its Subsidiaries
resident in Canada.

“Canadian Welfare Plan” means any medical, health, hospitalization, insurance or other
employee benefit or welfare plan, agreement or arrangement applicable to employees of the Company
or any of its Subsidiaries resident in Canada.

“Capital Stock” means (a) in the case of a corporation, corporate stock, (b) in the
case of a partnership or limited liability company, partnership or membership interests (whether
general or limited) and (c) in the case of an association or other business entity, any and all
shares, interests, participations, rights or other equivalents (however designated) of corporate
stock.

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

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

“Closing” is defined in Section 2.3.

“Closing Date” is defined in Section 2.3.

 

2

 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the
rules and regulations promulgated thereunder from time to time.

“Commission” means the Securities and Exchange Commission, as from time to time
constituted, created under the Exchange Act or, if at any time after the execution of this
Agreement such Commission is not existing and performing the duties now assigned to it under the
Exchange Act, the body performing such duties at such time.

“Company Exchange Notes” means (a) notes or other Indebtedness and any other
consideration of the Company issued in exchange for the Existing Company Notes, (b) the Existing
Company Notes, after any amendment to the terms and conditions thereof or of the Existing Company
Notes Indenture, and (c) in each case, if applicable, other consideration in exchange for, or the
net proceeds of which are used to Refinance, all or a portion of the Existing Company Notes.

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

“Default” means any event, act or condition that is, or with the giving of notice,
lapse of time or both would constitute, an Event of Default.

“Enforceability Exceptions” means, with respect to any specified obligation, (a) any
limitations on the enforceability of such obligation due to bankruptcy, insolvency, reorganization,
moratorium, and other similar laws of general applicability relating to or affecting creditors’
rights or general equity principles, and (b) that rights to indemnification or contribution may be
limited by federal or state securities laws or applicable public policy (other than with respect to
usury).

“Environmental Laws” means the common law and all applicable U.S. and Canadian
federal, state, provincial or local statutes, laws, ordinances, codes, rules, regulations and
guidelines having the force and effect of law (including consent decrees and administrative orders)
relating to public health and safety, or pollution or protection of the environment (including
ambient air, surface water, groundwater, soil, subsurface strata and natural resources such as
flora and fauna) including without limitation the Clean Air Act, as amended, CERCLA, the Superfund
Amendments and Reauthorization Act of 1986, as amended, the Resource Conservation and Recovery Act,
the Toxic Substances Control Act of 1976, as amended, the Federal Water Pollution Control Act
Amendments of 1972, the Clean Water Act of 1977, as amended, the Hazardous Materials Transportation
Act, as amended, and any other law having a similar subject matter.

“Environmental Matter” means any matter relating to pollution, contamination,
protection of the environment, human health or safety, and health or safety of employees, and any
matter relating to emissions, discharges, releases or threatened releases, of Hazardous Materials
into the air (indoor and outdoor), surface water, groundwater, soil, land surface or subsurface,
buildings, facilities, real or personal property or fixtures or otherwise relating to the
manufacture, processing, distribution, use, treatment, storage, disposal, transport or
handling of Hazardous Materials.

 

3

 

“Environmental Permits” is defined in Section 4.12(d).

“Equity Investors” means the holders of Capital Stock of AMH II, other than Harvest
and Investcorp.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from
time to time, and the regulations promulgated thereunder.

“Event of Default” is defined in the Indenture.

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

“Existing AMH Indenture” means the indenture, dated as of March 4, 2004, between
Wilmington Trust Company, as trustee, and AMH, providing for the issuance of the Existing AMH
Notes, as such indenture may be amended, supplemented or otherwise modified from time to time.

“Existing AMH Notes” means the 11 1/4% Senior Discount Notes due 2014 of AMH.

“Existing Company Notes” means the Company’s outstanding 93/4% Senior Subordinated Notes
due 2012.

“Existing Company Notes Indenture” means the indenture, dated as of April 23, 2002, by
and among the Company, the subsidiary guarantors party thereto, and Wilmington Trust Company, as
trustee, providing for the issuance of the Existing Company Notes, as such indenture may be
amended, supplemented or otherwise modified from time to time.

“Foreign Subsidiary” means any Subsidiary of the Company which is organized under the
laws of any jurisdiction outside of the United States of America.

“GAAP” means generally accepted accounting principles in the United States of America
as in effect from time to time, including those set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and
statements and pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as have been approved by a significant segment of the accounting
profession.

“Gentek” means Gentek Building Products Limited, a corporation organized and existing
under the laws of Ontario, Canada.

“Goldman” is defined in the Preamble.

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

 

4

 

“Harvest” means certain affiliates of Harvest Partners, LLC that own Capital Stock of
AMH II.

“Hazardous Materials” means (a) any “hazardous substance”, as defined by CERCLA, (b)
any “hazardous waste”, as defined by the Resource Conservation and Recovery Act, as amended, (c)
any solid waste that is generated in the diagnosis, treatment (e.g., provision of medical services)
or immunization of human beings or animals, in research pertaining thereto, or in the production or
testing of biologicals, and (d) any pollutant or contaminant or hazardous, dangerous or toxic
chemical, material or substance (including, without limitation, crude oil and any petroleum
product) subject to regulation, or which can give rise to liability, under any Environmental Law.

“Holder” means a Person in whose name a Note is registered on the Security Register.

“Indebtedness” is defined in the Indenture.

“Indemnitees” is defined in Section 8.2.

“Indenture” means that certain indenture, in the form attached as Exhibit A
hereto, by and among the Company, the subsidiary guarantors party thereto, and Deutsche Bank Trust
Company Americas, as trustee, providing for the issuance of the Notes.

“Institutional Investor” means (a) any original purchaser of a Note and any transferee
that is an Affiliate of any original purchaser, (b) any Holder of a Note holding more than 25% of
the aggregate principal amount of the Notes then outstanding, or (c) any bank, trust company,
savings and loan association or other financial institution, any pension plan, any investment
company or investment fund, any insurance company, any broker or dealer, or any other similar
financial institution or entity, regardless of legal form organized under the laws of the United
States, any state thereof, or the District of Columbia, with capital and surplus in excess of
$50,000,000.

“Investcorp” means certain funds affiliated with Investcorp S.A. which own Capital
Stock of AMH II.

“Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in
New York, Minnesota or at a place of payment are authorized by law, regulation or executive order
to remain closed.

“Lien” is defined in the Indenture.

“Material Adverse Effect” means a material adverse effect on the condition (financial
or otherwise), business, operations, assets, liabilities (contingent or otherwise), properties or
prospects of the Company and its Subsidiaries, taken as a whole.

 

5

 

“Northwestern Mutual” is defined in the Preamble.

“Notes” is defined in the Recitals.

“Note Refinancing” means any amendment (or other modification) in any manner of any of
the material terms of, or any Refinancing of, all or any part of the Obligations under the Existing
Company Notes or the Existing AMH Notes, or both, including (a) any amendment of the Existing
Company Notes or the Existing Company Notes Indenture or the issuance of notes or other
Indebtedness of the Company and, if applicable, other consideration in exchange for, or the net
proceeds of which are used to Refinance, all or any part of the Existing Company Notes, whether or
not the principal amount of any such notes or other Indebtedness being issued is less or greater
than the principal amount of the Existing Company Notes, whether such notes or other Indebtedness
is secured or unsecured, senior or subordinated, and irrespective of the terms of any indenture or
other debt agreement or agreements evidencing such notes or other Indebtedness, but in each case
subject to the limitations set forth in this Agreement and the Indenture, (b) the issuance of notes
or other Indebtedness of the Company and, if applicable, other consideration in exchange for, or
the net proceeds of which are used to Refinance, all or any part of the Existing AMH Notes, whether
or not the principal amount of such notes or other Indebtedness is less or greater than the
principal amount of the Existing AMH Notes, whether such notes or other Indebtedness is secured or
unsecured, senior or subordinated, and irrespective of the terms of any indenture or other debt
agreement or agreements evidencing such notes or other Indebtedness, but in each case subject to
the limitations set forth in this Agreement and the Indenture, (c) any amendment of the ABL
Facility, including, among other things, to permit the other transactions taking place as part of
the transactions referred to in clause (a), (b) or (d) hereof, or (d) the issuance of the
Replacement Notes, including in each case the payment of accrued interest and fees and expenses in
connection therewith.

“Obligations” means all obligations for principal, premium, interest, penalties, fees,
indemnification, reimbursements and damages under the documentation governing any Indebtedness.

“Permitted Liens” means (a) “Permitted Liens” as such term is defined in the ABL
Facility and (b) Liens that are permitted under the terms of the Indenture and the Existing Company
Notes Indenture.

“Person” means any individual, corporation, partnership, limited liability company,
joint venture, association, joint-stock company, trust, unincorporated organization, government or
any agency or political subdivision thereof or any other entity.

“principal” is defined in the Indenture.

“Purchase Price” is defined in Section 2.2.

“Purchasers” is defined in the Preamble.

“Refinance” means, in respect of any Indebtedness, to refinance, extend, renew,
refund, repay, prepay, redeem, defease or retire, or to issue other Indebtedness in exchange or
replacement for, such Indebtedness.

 

6

 

“Regulation FD” is defined in Section 9.17.

“Regulation S” means Regulation S under the Securities Act (or any successor
provision), as it may be amended from time to time.

“Regulation T” means Regulation T of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor regulation to all or a portion thereof.

“Regulation U” means Regulation U of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor regulation to all or a portion thereof.

“Regulation X” means Regulation X of the Board of Governors of the Federal Reserve
System as from time to time in effect and any successor regulation to all or a portion thereof.

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

“Replacement Notes” is defined in Section 6.1(a).

“Replacement Notes Indenture” means the indenture governing the Replacement Notes.

“Responsible Officer” means the chief executive officer, the president or the chief
accounting officer of the Company or any other officer having substantially the same authority and
responsibility; or, with respect to compliance with financial covenants or delivery of financial
information, the chief financial officer or the treasurer of the Company or any other officer
having substantially the same authority and responsibility.

“Restricted Subsidiaries” is defined in the Indenture.

“Rule 144” means Rule 144 under the Securities Act (or any successor provision), as it
may be amended from time to time.

“Rule 144A” means Rule 144A under the Securities Act (or any successor provision), as
it may be amended from time to time.

“Securities Act” means the Securities Act of 1933, as amended from time to time.

“Security Register” is defined in the Indenture.

“Senior Indebtedness” is defined in the Existing Company Notes Indenture.

 

7

 

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

“Subsidiary” means, with respect to any Person, (a) any corporation, association or
other business entity of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency) to vote in the election of
directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly,
by such Person or one or more of the other Subsidiaries of that Person (or a combination thereof)
and (b) any partnership (i) the sole general partner or the managing general partner of which is
such Person or a Subsidiary of such Person or (ii) the only general partners of which are such
Person or one or more Subsidiaries of such Person (or any combination thereof). Unless the context
otherwise specifically requires, the term “Subsidiary” shall be a reference to a Subsidiary of the
Company.

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

“Transaction Documents” means, collectively, this Agreement, the Indenture, the Notes
and all certificates, instruments and other documents made or delivered in connection herewith and
therewith.

“Transactions” means the issuance of the Notes and all other transactions provided for
in, or contemplated by, the Transaction Documents.

“United States” shall have the meaning assigned to such term in Regulation S.

“U.S. Multiemployer Plan” means a “multiemployer plan” as defined in Section
4001(a)(3) of ERISA.

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

 

8

 

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

1.2 Computation of Time Periods. For purposes of computation of periods of time
hereunder, the word “from” means “from and including” and the words “to” and “until” each mean “to
but excluding.”

1.3 Terms Generally. Unless the context requires otherwise (a) any definition of or
reference to any agreement, instrument or other document herein shall be construed as referring to
such agreement, instrument or other document as from time to time amended, supplemented or
otherwise modified (subject to any restrictions on such amendments, supplements or modifications
set forth herein), (b) any reference herein to any Person shall be construed to include such
Person’s successors and assigns, and (c) the word “including” shall mean “including without
limitation.”

SECTION 2.

AUTHORIZATION AND ISSUANCE OF NOTES

2.1 Authorization of Issue. On or prior to the execution and delivery of this
Agreement, the Company will authorize the issue and sale of the Notes. The Notes shall be in the
form specified in the Indenture.

2.2 Sale and Purchase of the Notes. Subject to the terms and conditions of this
Agreement, the Company will issue and sell to the Purchasers, and the Purchasers will purchase from
the Company, at the Closing provided for in Section 2.3, the Notes, for an aggregate cash
purchase price (the “Purchase Price”) equal to 100% of the aggregate principal amount of
the Notes being so purchased. Each Purchaser shall, in exchange for the payment by such Purchaser
of the portion of the Purchase Price set forth opposite such Purchaser’s name on Schedule
2.2, receive the aggregate principal amount of Notes set forth opposite such Purchaser’s name
on Schedule 2.2. The obligations hereunder of the Purchasers to purchase and pay for Notes
are several and not joint, and no Purchaser shall have any liability to any Person for the
performance or non-performance by any other Purchaser.

2.3 Closing. The sale and purchase of the Notes shall occur at the offices of Gibson,
Dunn & Crutcher LLP, 200 Park Avenue, 48th Floor, New York, New York 10166-1093 at 10:00 a.m. local
time, at a closing (the “Closing”) on the Business Day following the satisfaction or, to
the extent permitted by law, waiver of all conditions to the obligations of the parties set forth
in Section 3 (other than such conditions as may, by their terms, only be satisfied at the
Closing or on the Closing Date), or at such other place or time or on such other date thereafter as
may be agreed upon by the Company and the Purchasers (in either case, the date and time of the
Closing is referred to herein as the “Closing Date”). At the Closing, the Company will
deliver to each Purchaser the Notes to be purchased by such Purchaser on the Closing Date, in such
denominations (which will be a multiple of $1,000 principal amount) as such Purchaser may request,
dated the Closing Date and registered
in such Purchaser’s name, against payment by such Purchaser to the Company of immediately
available funds in the amount of the applicable portion of the Purchase Price (as provided in
Section 2.2) by wire transfer of immediately available funds to such bank account or
accounts as the Company may request in writing at least one Business Day prior to the Closing Date.

 

9

 

SECTION 3.

CONDITIONS TO CLOSING

3.1 Conditions to the Obligations of the Parties. The obligation of the Parties to
consummate the transactions contemplated by this Agreement is subject to the fulfillment (or
waiver) on or before the Closing Date of the following:

(a) Each Purchaser’s purchase of the Notes shall (i) be permitted by the laws and regulations
of each jurisdiction to which it is subject, and (ii) not violate any Applicable Laws (including,
without limitation, Regulation U, Regulation T or Regulation X).

3.2 Conditions to the Obligations of the Purchasers. The obligation of the Purchasers
to consummate the transactions contemplated by this Agreement is subject to the fulfillment (or
waiver) on or before the Closing Date of the following:

(a) Each of the representations and warranties of the Company in this Agreement and in each of
the other Transaction Documents that are modified by materiality or Material Adverse Effect
qualifiers shall be true and correct when made and on and as of the Closing Date as if made on and
as of the Closing Date (unless stated to relate to a specific earlier date, in which case such
representations and warranties shall be true and correct as of such earlier date), and each of the
representations and warranties of the Company in this Agreement and in each of the other
Transaction Documents that are not so qualified as to materiality or Material Adverse Effect shall
be true and correct in all material respects when made and on and as of the Closing Date as if made
on and as of the Closing Date (unless stated to relate to a specific earlier date, in which case
such representations and warranties shall be true and correct as of such earlier date).

(b) The Company and its Subsidiaries, to the extent parties hereto or thereto, shall each have
performed and complied in all material respects with all agreements and covenants contained in this
Agreement and each of the other Transaction Documents required to be performed or complied with by
it prior to or at the Closing (or such compliance shall have been waived on terms and conditions
reasonably satisfactory to each Purchaser) and, after giving effect to the issue and sale of the
Notes and the other Transactions (and the application of the proceeds thereof as contemplated by
this Agreement and the other Transaction Documents), no Default or Event of Default shall have
occurred and be continuing, and no default or event of default shall have occurred and be
continuing under any of the other Transaction Documents.

(c) The Company shall have delivered to each Purchaser an Officer’s Certificate, dated as of
the Closing Date, in the form previously agreed to by the parties,
certifying as to the Company’s organizational documents and resolutions attached thereto, the
incumbency and signatures of certain officers of the Company and other corporate proceedings of the
Company relating to the authorization, execution and delivery of the Notes, this Agreement and the
other Transaction Documents to which the Company is a party and that the conditions specified in
Section 3.2 (other than Section 3.2(d)) have been fulfilled, except as to matters
which require the approval or satisfaction of each Purchaser.

 

10

 

(d) Gibson, Dunn & Crutcher LLP, New York counsel for the Company, shall have furnished to
each Purchaser its written opinion, dated the Closing Date, in the form previously agreed to by the
parties.

(e) On the Closing Date the Company shall have delivered to the Purchasers the entire
$20,000,000 original principal amount of Notes.

(f) Except as disclosed in the reports, notices, prospectuses, registration statements and
other filings which the Company has filed with the Commission prior to the date of this Agreement,
no event or events shall have occurred since December 31, 2008, which, individually or in the
aggregate, has had or would reasonably be expected to have a material adverse effect on the assets,
liabilities, results of operations, financial condition or business of the Company and its
Subsidiaries, taken as a whole; provided that none of the following shall, in any case, be
deemed to constitute a material adverse effect, nor shall any of the following be considered in
determining whether a material adverse effect has occurred: (i) changes (x) in economic, financial
market, regulatory or political conditions generally or (y) generally affecting the building
products/siding and windows industry or principal markets in which the Company or any of its
Subsidiaries conducts business that, in the case of clause (y), do not adversely affect the Company
and its Subsidiaries, taken as a whole, disproportionately to other companies in the building
products/siding and windows industry, (ii) changes in laws, rules, regulations, or orders of any
Governmental Authority or interpretations thereof by any Governmental Authority or changes in
accounting requirements or principles, (iii) the announcement or pendency of the Transactions, or
(iv) any natural disaster or any act of terrorism, sabotage, military action or war (whether or not
declared) or any escalation or worsening thereof; in each case, which do not adversely affect the
Company and its Subsidiaries, taken as a whole, disproportionately to other Persons affected
thereby.

(g) All corporate, limited liability company and other proceedings in connection with the
Transactions, and all documents and instruments incident thereto and the terms thereof, shall be
reasonably satisfactory to each Purchaser and the Purchasers’ special counsel, and each Purchaser
and the Purchasers’ special counsel shall have received all such certified or other copies of such
documents as it or they may reasonably request.

(h) The issuance of the Notes by the Company shall not violate any provision of the Existing
Company Notes Indenture or the Existing AMH Indenture and no default or event of default shall
occur thereunder as a result thereof.

(i) Each Purchaser shall have received true and correct copies of all Transaction Documents
and such documents (i) shall have been duly executed and delivered by the parties thereto, (ii)
shall be in form and substance reasonably satisfactory to each Purchaser
and the Purchasers’ special counsel and (iii) shall be valid and binding obligations of the
parties thereto, enforceable against each of them in accordance with its respective terms, subject
to the Enforceability Exceptions.

 

11

 

(j) The Purchasers shall have received from the Company or a Subsidiary of the Company a
payment in cash equal, in the aggregate, to $1,500,000 by wire transfer of immediately available
funds according to the wire transfer instructions set forth on Schedule 2.2 (which payment
shall be apportioned pro rata between the Purchasers according to the principal amount of the Notes
purchased by each Purchaser as set forth on Schedule 2.2).

3.3 Conditions to the Obligations of the Company. The obligation of the Company to
consummate the transactions contemplated by this Agreement is subject to the fulfillment (or
waiver) on or before the Closing Date of the following:

(a) Each of the representations and warranties of each of the Purchasers in this Agreement and
in each of the other Transaction Documents that are modified by materiality or material adverse
effect qualifiers shall be true and correct when made and on and as of the Closing Date as if made
on and as of the Closing Date (unless stated to relate to a specific earlier date, in which case
such representations and warranties shall be true and correct as of such earlier date), and each of
the representations and warranties of each of the Purchasers in this Agreement and in each of the
other Transaction Documents that are not so qualified as to materiality or material adverse effect
shall be true and correct in all material respects when made and on and as of the Closing Date as
if made on and as of the Closing Date (unless stated to relate to a specific earlier date, in which
case such representations and warranties shall be true and correct as of such earlier date).

(b) Each of the Purchasers, to the extent parties hereto or thereto, shall each have performed
and complied in all material respects with all agreements and covenants contained in this Agreement
and each of the other Transaction Documents required to be performed or complied with by it prior
to or at the Closing (or such compliance shall have been waived on terms and conditions reasonably
satisfactory to the Company).

(c) On or prior to the Closing Date, (i) AMH II shall have received additional equity capital
from its shareholders and/or (ii) the availability to make “Restricted Payments” pursuant to
Section 4.04 of the Existing AMH Indenture shall have been increased, in an aggregate amount of at
least $8 million.

SECTION 4.

REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

In order to induce the Purchasers to enter into this Agreement and the Indenture and to
purchase the Notes, the Company makes the following representations and warranties as of the date
hereof and as of the Closing Date (except as specifically provided herein, both before and after
giving pro forma effect to the consummation on the Closing Date of the transactions
contemplated by this Agreement and the other Transaction Documents, and the issuance of the
Notes to be issued on the Closing Date and the application of the proceeds thereof) that:

4.1 Organization. Each of the Company and its Subsidiaries (a) is validly organized
and existing and in good standing under the laws of the state or jurisdiction of its incorporation
or organization, (b) is duly qualified to do business and is in good standing as a foreign entity
in each jurisdiction where the nature of its business requires such qualification and where the
failure to be so qualified would reasonably be expected to have a Material Adverse Effect and (c)
has full corporate, partnership or limited liability company power and authority, as the case may
be, to own and hold under lease its property and to conduct its business substantially as currently
conducted by it.

 

12

 

4.2 Due Authorization; Non-Contravention. Each of the Company’s and its Subsidiaries’
participation in the consummation of all aspects of the Transactions, and the execution, delivery
and performance by the Company and its Subsidiaries of the Transaction Documents are in each case
within each such Person’s corporate, partnership or limited liability company powers, as the case
may be, have been duly authorized by all necessary corporate, partnership or limited liability
company action, as the case may be, and, except as disclosed on Schedule 4.2, do not (a)
contravene any (i) articles or certificate of incorporation and by-laws or other organizational or
governing documents of the Company or any of its Subsidiaries, (ii) material contractual
restriction binding on or affecting the Company or any of its Subsidiaries, (iii) court decree or
order binding on or affecting the Company or any of its Subsidiaries or (iv) material law or
governmental regulation binding on or affecting the Company or any of its Subsidiaries, or (b)
result in, or require the creation or imposition of, any Lien on any of the Company or any of its
Subsidiaries’ properties (except for Permitted Liens).

4.3 Governmental Approval; Regulation. Except for any filing required to be made
under applicable securities law (including the Securities Act and the Exchange Act), no material
authorization or approval or other action by, and no material notice to or filing with, any
Governmental Authority or other Person is required for (a) the due execution, delivery or
performance by the Company and its Subsidiaries of any Transaction Document to which it is a party
or (b) the conduct of the business of AMH and its Subsidiaries as currently conducted. Neither the
Company, nor any of its Subsidiaries is an “investment company” within the meaning of the
Investment Company Act of 1940, as amended, or a “holding company”, or a “subsidiary company” of a
“holding company”, or an “affiliate” of a “holding company” or of a “subsidiary company” of a
“holding company”, within the meaning of the Public Utility Holding Company Act of 1935, as
amended.

4.4 Validity. Each Transaction Document constitutes, or, upon the due execution and
delivery thereof, will constitute, a legal, valid and binding obligation of the Company and its
Subsidiaries, to the extent a party thereto, enforceable against them in accordance with its terms
(subject to the Enforceability Exceptions).

4.5 No Material Adverse Effect. Except as disclosed in the reports, notices,
prospectuses, registration statements and other filings which the Company has filed with the
Commission prior to the date of this Agreement,
there has been no event, occurrence, omission or change which has resulted in a Material
Adverse Effect since December 31, 2008.

4.6 Litigation. There is no pending or, to the knowledge of the Company, threatened
litigation, action, investigation or proceeding (a) affecting the Company or any of its
Subsidiaries or any of their respective properties, businesses, assets or revenues, which would
reasonably be expected to have a Material Adverse Effect or (b) which purports to affect the
legality, validity or enforceability of any Transaction Document.

 

13

 

4.7 Labor Matters. There is no labor strike, work stoppage, lockout or other work
action or other labor controversy, and no such dispute or controversy is actually pending or, to
the Company’s knowledge, threatened against or affecting the Company or of any of its Subsidiaries
that has had or would reasonably be expected to have a Material Adverse Effect.

4.8 Subsidiaries. The Company has no Subsidiaries, except those Subsidiaries which
are identified on Schedule 4.8, none of which are Foreign Subsidiaries other than Gentek.
Schedule 4.8, as of the Closing Date, lists the percentage of shares of the Capital Stock
of each Subsidiary owned by the Company or another Subsidiary.

4.9 Ownership of Properties. The Company and each of its Subsidiaries maintains (a)
in the case of material owned real property, good and marketable fee title to, (b) in the case of
material owned personal property, good and valid title to, or (c) in the case of material leased
real or personal property, valid and enforceable leasehold interests (as the case may be) in, all
of such properties and assets, real and personal, tangible and intangible, of any nature
whatsoever, free and clear in each case of all Liens, except for Permitted Liens.

4.10 Taxes. The Company and each of its Subsidiaries has timely filed all material
Tax returns and reports required by law to have been filed by it, has timely withheld all material
Taxes that were required to be withheld in respect of compensation or other amounts paid to any
employee or independent contractor (or, in the case of independent contractors, the Company or the
relevant Subsidiary has the right to indemnification with respect thereto) and has timely paid all
material Taxes and governmental charges thereby shown or required to be due and owing, except any
such Taxes or charges which are being diligently contested in good faith by appropriate proceedings
and for which adequate reserves in accordance with GAAP shall have been set aside on its books.

4.11 Pension and Welfare Plans.

(a) During the twelve-consecutive-month period prior to the date of the execution and delivery
of this Agreement (i) no steps have been taken to terminate any U.S. Pension Plan, (ii) no
contribution failure has occurred with respect to any U.S. Pension Plan sufficient to give rise to
a Lien under Section 302(f) of ERISA and (iii) no steps have been taken to effect a partial or
complete withdrawal from any U.S. Multiemployer Plan, in each case which
could (individually or in the aggregate) reasonably be expected to result in liabilities of
the Company or any of its Subsidiaries in excess of $5,000,000 or a Material Adverse Effect. No
condition exists or event or transaction has occurred with respect to any U.S. Pension Plan which
could reasonably be expected to result in the incurrence by the Company or any member of the
Controlled Group of any material liability, fine or penalty, that could (individually or in the
aggregate) reasonably be expected to result in liabilities in excess of $5,000,000 or a Material
Adverse Effect. Neither the Company nor any member of the Controlled Group has any contingent
liability with respect to any post-retirement benefit under a U.S. Welfare Plan, other than
liability for continuation coverage described in Part 6 of Subtitle B of Title I of ERISA, which
could reasonably be expected to result in a Material Adverse Effect.

 

14

 

(b) During the twelve-consecutive-month period before the date of the execution and delivery
of this Agreement, (i) no steps have been taken to terminate any Canadian Pension Plan and (ii) no
contribution failure has occurred with respect to any Canadian Pension Plan, in each case that,
individually or in the aggregate, could reasonably be expected to result in a Material Adverse
Effect. No condition exists and no event or transaction has occurred with respect to any Canadian
Pension Plan which could reasonably be expected to result in the incurrence by the Company or any
of its Subsidiaries of any liability, fine or penalty that could (individually or in the aggregate)
reasonably be expected to result in liabilities in excess of $5,000,000 or a Material Adverse
Effect. Neither the Company nor any of its Subsidiaries has any liability, including without
limitation a contingent liability, with respect to any benefit under a Canadian Pension Plan or
Canadian Welfare Plan which, in each case could reasonably be expected to result in a Material
Adverse Effect.

(c) (i) Each Canadian Pension Plan is in compliance in all material respects with all
applicable pension benefits and tax laws; (ii) all contributions (including employee contributions
made by authorized payroll deductions or other withholdings) required to be made to the appropriate
funding agency in accordance with all Applicable Laws and the terms of each Canadian Pension Plan
have been made in accordance with all Applicable Laws and the terms of each Canadian Pension Plan;
(iii) all liabilities under each Canadian Pension Plan are being funded, on a going concern and
solvency basis, in accordance with the terms of the respective Canadian Pension Plan, the
requirements of applicable pension benefits laws and of applicable regulatory authorities and the
most recent actuarial report filed with respect to such Canadian Pension Plan; and (iv) no event
has occurred and no conditions exist with respect to any Canadian Pension Plan that has resulted or
could reasonably be expected to result in any Canadian Pension Plan having its registration revoked
or refused for the purposes of any applicable pension benefits or tax laws or being placed under
the administration of any relevant pension benefits regulatory authority or being required to pay
any Taxes or penalties under any applicable pension benefits or tax laws, except for any exceptions
to clauses (i) through (iv) above that, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect.

4.12 Environmental Warranties. Except as disclosed in Schedule 4.12:

(a) all facilities and property (including underlying groundwater) owned or leased by the
Company or any of its Subsidiaries and their operations are in compliance with all
Environmental Laws, except for any such noncompliance that could not (individually or in the
aggregate) reasonably be expected to have a Material Adverse Effect;

(b) there are no pending or, to the knowledge of the Company, any threatened (i) claims,
complaints, notices, requests for information, proceedings, or investigation against or involving
the Company or any of its Subsidiaries with respect to any alleged violation of any Environmental
Law, or (ii) complaints, notices or inquiries to the Company or any of its Subsidiaries regarding
actual or potential liability under any Environmental Law, that, with respect to clauses (i) and
(ii) of this paragraph, could (individually or in the aggregate) reasonably be expected to have a
Material Adverse Effect;

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

 

15

 

(d) The Company and its Subsidiaries have been issued all permits, certificates, approvals,
licenses and other authorizations pursuant to Environmental Laws necessary for the operation of
their business (“Environmental Permits”) and are in compliance with all Environmental
Permits (except to the extent the failure to have or be in compliance with any such Environmental
Permit could not (individually or in the aggregate) reasonably be expected to have a Material
Adverse Effect);

(e) no property or facility, now or previously, leased or operated by the Company or its
Subsidiaries is listed, or proposed for listing, on the National Priorities List pursuant to
CERCLA, on the CERCLIS or on any similar state list of sites with respect to any clean up
responsibility or similar liability of the Company or a Subsidiary which would be reasonably likely
to result in a Material Adverse Effect;

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

(g) neither the Company nor any of its Subsidiaries has transported or arranged for the
transportation of any Hazardous Material to any location which is listed or proposed for listing on
the National Priorities List pursuant to CERCLA, on the CERCLIS or on any similar state list or
which, to the Company’s knowledge, is the subject of federal, state or local enforcement actions or
other investigations which may lead to material claims against the Company or such Subsidiary for
any investigatory or remedial work, damage to natural resources or personal injury or property
damage, including claims under CERCLA, which could (individually or in the aggregate) reasonably be
expected to have a Material Adverse Effect;

(h) there are no polychlorinated biphenyls or friable asbestos present at any property now or
previously owned or leased by the Company or any of its Subsidiaries that could (individually or in
the aggregate) reasonably be expected to have a Material Adverse Effect;

(i) neither the Company nor any of its Subsidiaries has manufactured or sold any product
containing asbestos, the result of which could (individually or in the aggregate) reasonably be
expected to result in a Material Adverse Effect; and

(j) no conditions exist at, on or under any property now or previously owned or leased by the
Company or any of its Subsidiaries, or to the knowledge of the Company, at any property previously
owned or leased by the Company or any of its Subsidiaries, that could, with the passage of time, or
the giving of notice or both, reasonably be expected (individually or in the aggregate) to have a
Material Adverse Effect under any Environmental Law.

 

16

 

4.13 Accuracy of Information. None of the reports, notices, prospectuses,
registration statements and other filings which the Company has filed with the Commission contains
any untrue statements of material fact, or omits to state any material facts necessary in either
case to make such information taken as a whole not materially misleading in light of the
circumstances under which such information was provided. Notwithstanding the foregoing, all
“forward-looking statements” and projections contained in any filings that the Company has made
with the Commission have been prepared in good faith based upon assumptions believed by Responsible
Officers of the Company to be reasonable at the time such assumptions were made (it being
recognized by each Purchaser, however, that forward-looking statements and projections as to future
events are not to be viewed as facts and that the actual results during the period or periods
covered by the forward-looking statements or projections will probably differ from the
forward-looking or projected results and such differences may be material).

4.14 Regulations U and X. Neither the Company nor any of its Subsidiaries is engaged
in the business of extending credit for the purpose of purchasing or carrying margin stock, and no
proceeds of the issuance and sale of the Notes will be used to purchase or carry margin stock or
otherwise for a purpose which violates, or would be inconsistent with Regulation U or Regulation X.
Terms for which meanings are provided in Regulation U or Regulation X or any regulations
substituted therefor, as from time to time in effect, are used in this section with such meanings.

4.15 Solvency. As of the Closing Date, the Company and its Subsidiaries (taken
together) are, and after giving effect to the Transactions, will be Solvent.

4.16 Private Offering; No Integration or General Solicitation; Rule 144A Eligibility.

(a) Assuming the accuracy of the representations and warranties of each Purchaser set forth in
Section 5, it is not necessary in connection with the offer, issue, sale and
delivery of the Notes to the Purchasers in the manner contemplated by this Agreement and the
other Transaction Documents to register the Notes under the Securities Act.

(b) Neither the Company nor any of its Subsidiaries has, directly or indirectly, offered,
issued, sold or solicited any offer to buy nor will any of them, directly or indirectly, offer,
issue, sell or solicit any offer to buy, any security of a type or in a manner which would be
integrated with the sale of the Notes and require the Notes to be registered under the Securities
Act. None of the Company, any of its Subsidiaries, their Affiliates or any person acting on any of
their behalf (other than the Purchasers and their assignees, as to whom neither the Company nor any
of its Subsidiaries makes any representation or warranty except as provided in this Section
4) has engaged or will engage in any form of general solicitation or general advertising
(within the meaning of Rule 502(c) under the Securities Act) in connection with the offering of the
Notes.

(c) The Notes are eligible for resale pursuant to Rule 144A and the Notes will not, at the
Closing Date, be of the same class as securities listed on a national securities exchange
registered under Section 6 of the Exchange Act or quoted on a U.S. automated interdealer quotation
system.

 

17

 

4.17 Affiliate Transactions. As of the Closing Date, all transactions with Affiliates
of the Company and any of its Subsidiaries which are required to have been disclosed pursuant to
the rules and regulations of the Commission have been disclosed in the public filings of the
Company. Neither the Company nor any of its Subsidiaries has entered into a material transaction
with an Affiliate since the date of the last such filing of the Company.

4.18 Brokerage Fees. Except as set forth on Schedule 4.18, neither the
Company nor any of its Subsidiaries has paid, or is obligated to pay, to any Person any brokerage
or finder’s fees in connection with the transactions contemplated hereby or by any other
Transaction Documents.

4.19 Fees. All fees payable in connection with the consummation of the Transactions
to the Equity Investors, Harvest, or Investcorp or any of their respective Affiliates, in each case
by AMH II or any of its Subsidiaries, have been disclosed to each Purchaser on or prior to the date
hereof.

SECTION 5.

REPRESENTATIONS, WARRANTIES AND AGREEMENTS OF THE PURCHASERS

Each Purchaser, severally but not jointly, represents and warrants to the Company as of the
date hereof and as of the Closing Date as follows:

5.1 Purchase for Investment.

(a) Such Purchaser is acquiring Notes for its own account, for investment and not with a view
to any distribution thereof within the meaning of the Securities Act.

(b) Such Purchaser understands that the Notes have not been registered under the Securities
Act and the Notes are being issued by the Company in a transaction exempt from the registration
requirements of the Securities Act and the Notes may not be offered or sold except pursuant to
effective registration statements under the Securities Act or pursuant to applicable exemptions
from registration under the Securities Act and in compliance with applicable State laws.

(c) Such Purchaser further understands that the exemption from registration afforded by
Rule 144 (the provisions of which are known to the Purchaser) promulgated under the Securities Act
depends on the satisfaction of various conditions, and that, if applicable, Rule 144 may afford the
basis for sales only in limited amounts.

(d) Such Purchaser did not employ any broker or finder in connection with the transactions
contemplated in this Agreement and no fees or commissions are payable to the Purchaser except as
otherwise provided for in this Agreement.

(e) Such Purchaser is an Accredited Investor. Such Purchaser is financially able to hold the
Notes for long term investment and to suffer a complete loss of its investment in the Notes. Such
Purchaser has had the opportunity to ask questions of the Company and its officers and employees
and to receive to its satisfaction such information about the business and financial condition of
the Company as it considers necessary or appropriate for deciding whether to purchase the Notes,
and the Purchaser is fully capable of understanding and evaluating the risks associated with the
ownership of the Notes.

 

18

 

(f) Such Purchaser has or will on the Closing Date have funds sufficient to purchase the Notes
to be purchased by it hereunder. The source of funds to be used by such Purchaser to pay the
purchase price of the Notes purchased by such Purchaser hereunder does not include assets of any
employee benefit plan (other than a plan exempt from the coverage of ERISA) or plan or any other
entity the assets of which consist of “plan assets” of employee benefit plans or plans as defined
in Department of Labor regulation Section 2510.3-101. As used in this Section 5.1(f), the
term “employee benefit plan” shall have the meaning assigned to such term in Section 3 of ERISA,
and the term “plan” shall have the meaning assigned thereto in Section 4975(e)(1) of the Code.

(g) Such Purchaser is a corporation duly organized and validly existing under the laws of the
state of its incorporation and has the power and authority to deliver and perform the transactions
contemplated by this Agreement.

SECTION 6.

COVENANT REGARDING REFINANCING

6.1 Existing Note Refinancing.

(a) In the event of the consummation of a Note Refinancing by the Company or AMH, the Company
shall promptly notify the Holders of such Note Refinancing and the Holders of a majority of the
outstanding principal amount of the Notes may elect, at any time
from the date of such consummation through and including 30 days thereafter, in writing to
have the Company exchange all of the Notes owned by the Holders for an equal principal amount of
notes (such notes issued in exchange for the Notes, the “Replacement Notes”). Within 30
days of such election by the Holders, all Holders (including Persons that become Holders following
the date hereof) and the Company shall exchange the Notes for the Replacement Notes, which
Replacement Notes and the related Replacement Notes Indenture shall have terms and conditions
identical to the Notes being exchanged and the Indenture (including, for the avoidance of doubt,
Section 4.03(e) thereof) (with references in the Replacement Notes Indenture to the “Securities”
being to the Replacement Notes), except:

(i) if the Company Exchange Notes are not subordinated in right of payment and/or
constitute Senior Indebtedness (rather than being subordinated in right of payment as in the
case of the Existing Company Notes), (i) such Replacement Notes will not be subordinated in
right of payment and, if applicable, will be Senior Indebtedness, and (ii) in lieu of
Section 4.03(d) of the Indenture as applies to the Notes, the Replacement Notes Indenture
will include the equivalent of Section 4.03(d) of the Existing AMH Indenture;

(ii) if any of the Company Exchange Notes are secured by a Lien on any assets of the
Company or its Restricted Subsidiaries, such Replacement Notes will be secured by a Lien on
the same collateral which Lien shall rank equal with the Lien securing the Company Exchange
Notes pursuant to an intercreditor agreement (with all decisions with respect to such
intercreditor agreement to be made by holders of a majority in principal amount of the
holders of the Company Exchange Notes and Replacement Notes, voting together as one class)
or senior to the Lien securing the Company Exchange Notes;

 

19

 

(iii) at the election of the Holders of a majority of the outstanding principal amount
of the Notes, the covenants and events of default (and related definitions) included in the
Replacement Notes Indenture will be those included in the indenture or other debt instrument
governing the Company Exchange Notes, rather than those included in the Indenture;

(iv) If the yield to maturity, calculated on a per annum basis according to standard
market practices based on a 360 day convention and quarterly interest payments (including
increased or decreased principal amount (or accreted value, in the case of a security issued
with original issue discount) and upfront fees) on the Company Exchange Notes is greater
than 17%, then the per annum interest rate on the Replacement Notes shall be increased such
that the yield to maturity on the Replacement Notes equals the yield to maturity on the
Company Exchange Notes. For the purpose of such interest rate increase, any interest beyond
18% per annum can be payable at the Company’s option in additional Replacement Notes; and

(v) If the Company Exchange Notes are not callable by the Company for a specified
period of time after their issuance, the Replacement Notes will not be callable by the
Company for the same period of time. If the holders of the Company
Exchange Notes receive warrants to purchase Capital Stock of the Company, the holders
of the Replacement Notes shall be entitled to a proportionate share of such warrants.

(b) The Note Refinancing may not occur unless the Amended ABL Facility, if any, is comprised
entirely of a revolving credit facility and does not contain any term debt component.

SECTION 7.

TERMINATION

7.1 By Mutual Consent. This Agreement may be terminated at any time prior to the
Closing Date by the mutual written consent of the Company and the Purchasers.

7.2 By Purchasers. This Agreement may be terminated by the Purchasers, if the Company
breaches or fails to perform in any respect any of its representations, warranties or covenants
contained in this Agreement and such breach or failure to perform (a) would give rise to the
failure of a condition set forth in Section 3.2, (b) cannot be cured prior to the Cutoff
Date or has not been cured within 15 days following delivery of written notice of such breach or
failure to perform and (c) has not been waived by the Purchasers.

 

20

 

7.3 By the Company. This Agreement may be terminated by the Company, if the
Purchasers breach or fail to perform in any respect any of their representations, warranties or
covenants contained in this Agreement and such breach or failure to perform (a) would give rise to
the failure of a condition set forth in Section 3.3, (b) cannot be cured prior to the
Cutoff Date or has not been cured within 15 days following delivery of written notice of such
breach or failure to perform and (c) has not been waived by the Company.

7.4 Failure to Close. If the Closing does not occur by June 30, 2009 (the “Cutoff
Date”), then either the Purchasers or the Company may terminate this Agreement by delivery of
written notice of termination to the other parties hereto; provided, however, any
party that is in material breach of this Agreement shall not have the right to terminate this
Agreement pursuant to this Section 7.4.

7.5 Effect of Termination. If this Agreement is terminated as provided in this
Section 7, then this Agreement will forthwith become null and void and there will be no
liability on the part of any party hereto to any other party hereto or any other person or entity
in respect thereof, except in connection with Section 8 hereof, provided that no
such termination will relieve any party from liability for breach of its obligations under this
Agreement, and in such event the other parties shall have all rights and remedies available at law
or equity, including the right of specific performance against such party.

SECTION 8.

INDEMNIFICATION AND CONTRIBUTION

8.1 Expenses. On the Closing Date, the Company will pay all reasonable out-of-pocket
costs and expenses (including reasonable and documented attorneys’ fees and disbursements;
provided, that in connection with the consummation of the Transactions, the Company will pay fees
and disbursements of only one counsel to the Purchasers) incurred by each Purchaser (a) in
connection with the Transactions and (b) in connection with any amendments, waivers or consents
under or in respect of this Agreement or the other Transaction Documents (whether or not such
amendment, waiver or consent becomes effective), including, without limitation, the following:
(i) the reasonable and documented out-of-pocket costs and expenses incurred in enforcing, defending
or declaring (or determining whether or how to enforce, defend or declare) any rights or remedies
under this Agreement or the other Transaction Documents or in responding to any subpoena or other
legal process or informal investigative demand issued in connection with this Agreement or the
other Transaction Documents, or by reason of being a Holder of any Note; and (ii) the reasonable
and documented out-of-pocket costs and expenses, including reasonable and documented consultants’
and advisors’ fees, incurred in connection with the insolvency or bankruptcy of the Company or any
Subsidiary of the Company or in connection with any work-out or restructuring of the transactions
contemplated hereby, or by the Transaction Documents; provided, however, that for
the purposes of clause (b) above, reasonable out-of-pocket costs and expenses shall not include,
and the Company shall not be required to pay, the reasonable and documented attorneys’ fees and
disbursements of counsel to the Purchasers, unless such amendment, waiver or consent results from
the circumstances described in clause (i) or clause (ii) above. The Company will pay, and will
save each Purchaser and each other Holder of a Note harmless from, all claims in respect of any
fees, costs or expenses if any, of brokers and finders engaged by the Company or any of its
Subsidiaries in relation to the Transactions. For the avoidance of doubt, the Company shall not be
required to pay any out-of-pocket costs and expenses of the Purchasers in connection with the
issuance of the Replacement Notes by the Company to the Purchasers in connection with Section
6.1(a).

 

21

 

8.2 Indemnification. The Company shall, and shall cause each of its Subsidiaries to
indemnify and hold harmless each Purchaser and each of their Affiliates, partners, stockholders,
members, directors, agents, employees and controlling persons (collectively, the
“Indemnitees”) from and against any and all actual losses, claims, damages or liabilities
to any such Indemnitee in connection with or as a result of (a) the execution or delivery of any
Transaction Document or any other agreement or instrument contemplated thereby or the performance
by the parties to the Transaction Documents of their respective obligations hereunder or the
consummation of the Transactions or any other transactions contemplated hereby, (b) the issuance of
the Notes or the use of the proceeds therefrom, (c) any liability with respect to Environmental
Matters or (d) any actual or prospective claim, litigation, investigation or proceeding relating to
any of the foregoing, whether based on contract, tort or any other theory and regardless of whether
any Indemnitee is a party thereto; provided that such indemnity shall not, as to any
Indemnitee, be available to the extent that such losses, claims, damages or liabilities (i) are
determined by a court of competent jurisdiction by final and nonappealable judgment to have
resulted from the bad faith, gross
negligence or willful misconduct of such Indemnitee or breach of its obligations under this
Agreement or (ii) result from a change in the market value of the Notes.

8.3 Waiver of Punitive Damages. To the extent permitted by Applicable Law, none of
the Company or any of its Subsidiaries shall assert, and each hereby waives, any claim against any
Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages
(as opposed to direct or actual damages) arising out of, in connection with, or as a result of,
this Agreement or any agreement or instrument contemplated hereby, the Transactions, any
Transaction Document, the Notes or the use of the proceeds thereof.

8.4 Survival. The obligations of the Company and its Subsidiaries under this
Section 8 will survive the payment or transfer of any Note, the enforcement, amendment or
waiver of any provision of this Agreement and the termination of this Agreement.

8.5 Tax Treatment of Indemnification Payments. Any indemnification payment pursuant
to this Agreement shall, to the extent permitted by applicable law, be treated for federal, state,
local and foreign Tax purposes as an adjustment to the Purchase Price.

SECTION 9.

MISCELLANEOUS

9.1 Disclosure of Transactions and Other Material Information. On the fourth Business
Day after the date hereof, the Company shall issue a press release and file a Current Report on
Form 8-K describing the terms of the transactions contemplated by the Transaction Documents in the
form required by the Exchange Act and attaching the Transaction Documents (including all
attachments, the “8-K Filing”). Without the prior written consent of any applicable
Purchaser, neither the Company nor any of its Subsidiaries or Affiliates shall disclose the name of
such Purchaser in any filing (other than in the exhibit index of and the exhibits to the 8-K
Filing), announcement, release or otherwise, except as otherwise required by any law, rule or
regulation applicable to the Company after consultation with such Purchaser.

 

22

 

9.2 Notices. Except as otherwise expressly provided herein, all notices and other
communications shall have been duly given and shall be effective (a) when delivered, (b) when
transmitted via telecopy (or other facsimile device) to the number set out below if the sender on
the same day sends a confirming copy of such notice by a recognized overnight delivery service
(charges prepaid), (c) the day following the day (except if not a Business Day then the next
Business Day) on which the same has been delivered prepaid to a reputable national overnight air
courier service for overnight delivery or (d) the third Business Day following the day on which the
same is sent by certified or registered mail, postage prepaid, in each case to the respective
parties at the addresses set forth below, or at such other address as such party may specify by
written notice to the other party hereto:

(a) if to a Purchaser or its nominee, to such Purchaser or its nominee at the address
specified for such communications in Schedule 2.2, with a copy to Fried, Frank, Harris,
Shriver & Jacobson LLP, One New York Plaza, New York, New York 10004, or by facsimile at (212)
859-4000, in each case addressed to the attention of Emil Buchman, Esq., or at such other address
as such Purchaser or its nominee shall have specified to the Company in writing;

(b) if to the Company, to it at (i) 3773 State Road, Cuyahoga Falls, Ohio 44223, or by
facsimile at (330) 922-2296, in each case addressed to the attention of Thomas N. Chieffe and (ii)
c/o Investcorp International Inc., 280 Park Avenue, New York, New York 10017, or by facsimile at
(212) 329-6741, in each case addressed to the attention of James Christopoulos, with a copy to
Gibson, Dunn & Crutcher LLP, 200 Park Avenue, 49th Floor, New York, New York 10166-0193,
or by facsimile at (212) 351-4035, in each case addressed to Joerg E. Esdorn, or at such other
address as the Company shall have specified to the Purchasers in writing.

9.3 Benefit of Agreement; Assignments and Participations. This Agreement may not be
assigned without the express written consent of the Company and the Holders holding a majority in
principal amount of all outstanding Notes (which consent may be granted or withheld in the sole
discretion of the Company or such Holders); provided, that a Purchaser may, without such
consent, assign its rights and obligations under this Agreement to its affiliates in connection
with a transfer of Notes in accordance with the Indenture to such affiliate so long as such
affiliate agrees in writing to be bound by this Agreement as if it were a Holder hereunder.
Nothing set forth herein shall be construed as or deemed to limit the right of the Purchasers to
transfer the Notes in accordance with the terms of the Indenture. Notwithstanding the foregoing,
the Purchasers may not transfer the Notes unless the transferee agrees to be bound by the
provisions of Section 6.1(a). In furtherance of the foregoing, in the event that a Holder
consents to the exchange of such Holder’s Notes for Replacement Notes pursuant to Section
6.1(a) and, after such consent but prior to such exchange, such Holder transfers its Notes such
Holder’s election to exchange its Notes for Replacement Notes shall be binding upon any such
transferee of such Notes.

 

23

 

9.4 No Waiver; Remedies Cumulative. No failure or delay on the part of any party
hereto in exercising any right, power or privilege hereunder or under the Notes and no course of
dealing between the Company and any other party shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, power or privilege hereunder or under the Notes preclude
any other or further exercise thereof or the exercise of any other right, power or privilege
hereunder or thereunder. The rights and remedies provided herein and in the Notes are cumulative
and not exclusive of any rights or remedies that the parties would otherwise have. No notice to or
demand on the Company in any case shall entitle the Company to any other or further notice or
demand in similar or other circumstances or constitute a waiver of the rights of the other parties
hereto or the Holders to any other or further action in any circumstances without notice or demand.

9.5 Amendments, Waivers and Consents. This Agreement may be amended, and the
observance of
any term hereof may be waived (either retroactively or prospectively) with (and only with) the
written consent of the Company and the Holders holding a majority in principal amount of all
outstanding Notes. No amendment or waiver of this Agreement will extend to or affect any
obligation, covenant or agreement, not expressly amended or waived or thereby impair any right
consequent thereon. As used herein, the term this “Agreement” and references thereto shall
mean this Agreement as it may from time to time be amended, supplemented or modified.

9.6 Counterparts. This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be an original, but all of which shall constitute one
and the same instrument. It shall not be necessary in making proof of this Agreement to produce or
account for more than one such counterpart. Each counterpart may consist of a number of copies
hereof, each signed by less than all, but together signed by all, of the parties hereto. For the
purposes of the Closing, signatures transmitted via telecopy (or other facsimile device) will be
accepted as original signatures if the sender on the same day sends a manually executed signature
page by a recognized overnight delivery service (charges prepaid).

9.7 Reproduction. This Agreement, the other Transaction Documents and all documents
relating hereto and thereto, including, without limitation, (a) consents, waivers and modifications
that may hereafter be executed, (b) documents received by the parties at the Closing (except the
Notes themselves), and (c) financial statements, certificates and other information previously or
hereafter furnished in connection herewith, may be reproduced by any photographic, photostatic,
microfilm, microcard, miniature photographic or other similar process and any original document so
reproduced may be destroyed. The parties agree and stipulate that, to the extent permitted by
Applicable Law, any such reproduction shall be admissible in evidence as the original itself in any
judicial or administrative proceeding (whether or not the original is in existence and whether or
not such reproduction was made in the regular course of business) and any enlargement, facsimile or
further reproduction of such reproduction shall likewise be admissible in evidence. This
Section 9.7 shall not prohibit any party hereto from contesting any such reproduction to
the same extent that it could contest the original or from introducing evidence to demonstrate the
inaccuracy of any such reproduction.

 

24

 

9.8 Headings. The headings of the sections and subsections hereof are provided for
convenience only and shall not in any way affect the meaning or construction of any provision of
this Agreement.

9.9 Survival of Covenants and Indemnities. All covenants and indemnities set forth
herein shall survive the execution and delivery of this Agreement, the issuance of the Notes, and,
except as otherwise expressly provided herein with respect to covenants, the payment of principal
of the Notes and any other obligations hereunder.

9.10 Governing Law; Submission to Jurisdiction; Venue.

(a) THIS AGREEMENT AND THE NOTES SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE
RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, EXCLUDING
CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF
A JURISDICTION OTHER THAN SUCH STATE.

(b) If any action, proceeding or litigation shall be brought by any Purchaser in order to
enforce any right or remedy under this Agreement or any of the Notes, the Company hereby consents
and will submit to the jurisdiction of any state or federal court of competent jurisdiction sitting
within the area comprising the Southern District of New York on the date of this Agreement. The
Company hereby irrevocably waives any objection, including, but not limited to, any objection to
the laying of venue or based on the grounds of forum non conveniens, which they may now or
hereafter have to the bringing of any such action, proceeding or litigation in such jurisdiction.
The Company further agrees that it shall not bring any action, proceeding or litigation arising out
of this Agreement or the Notes in any state or federal court other than any state or federal court
of competent jurisdiction sitting within the area comprising the Southern District of New York on
the date of this Agreement.

(c) The Company irrevocably consents to the service of process of any of the aforementioned
courts in any such action, proceeding or litigation by the mailing of copies thereof by registered
or certified mail, postage prepaid, to the Company at its address set forth in Section 9.2,
such service to become effective thirty (30) days after such mailing.

(d) Nothing herein shall affect the right of each Purchaser to serve process in any other
manner permitted by law or to commence legal proceedings or otherwise proceed against the Company
in any other jurisdiction. If service of process is made on a designated agent it should be made
by either (i) personal delivery or (ii) mailing a copy of summons and complaint to the agent via
registered or certified mail, return receipt requested.

(e) THE COMPANY AND THE PURCHASERS WAIVE ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY ACTION, PROCEEDING OR LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN
CONNECTION WITH, THIS AGREEMENT OR ANY OF THE NOTES.

 

25

 

9.11 Severability. If any provision of this Agreement is determined to be illegal,
invalid or unenforceable, such provision shall be fully severable to the extent of such illegality,
invalidity or unenforceability and the remaining provisions shall remain in full force and effect
and shall be construed without giving effect to the illegal, invalid or unenforceable provisions.

9.12 Entirety. This Agreement together with the other Transaction Documents
represents the entire agreement of the parties hereto and thereto, and supersedes all prior
agreements and understandings, oral or written, if any, relating to the Transaction Documents or
the transactions contemplated herein or therein.

9.13 Survival of Representations and Warranties. All representations and warranties
made by the Company herein shall survive the execution and delivery of this Agreement, the issuance
and transfer of all or any portion of the Notes, and the payment of principal of the Notes, and any
other obligations hereunder, regardless of any investigation made at any time by or on behalf of
any Purchaser or any other Holder that is an affiliate of any Purchaser.

9.14 Construction. Each covenant contained herein shall be construed (absent express
provision to the contrary) as being independent of each other covenant contained herein, so that
compliance with any one covenant shall not (absent such an express contrary provision) be deemed to
excuse compliance with any other covenant. Where any provision herein refers to action to be taken
by any Person, or which such Person is prohibited from taking, such provision shall be applicable
whether such action is taken directly or indirectly by such Person, whether or not expressly
specified in such provision.

9.15 Incorporation. All Schedules attached hereto are incorporated as part of this
Agreement as if fully set forth herein.

9.16 Intent to Limit Interest to Maximum. In no event shall the interest rate payable
on the Notes under the Indenture, plus any other amounts paid by the Company to the Purchasers in
connection therewith, exceed the highest rate permissible under law that a court of competent
jurisdiction shall, in the final determination, deem applicable. The Company and the Purchasers,
in executing and delivering this Agreement, intend legally to agree upon the rate or rates of
interest and the manner of payment stated within the Indenture; provided, however,
that, anything contained herein to the contrary notwithstanding, if said rate or rates of interest
or manner of payment exceed the maximum allowable under Applicable Law, then, ipso facto as of the
date of this Agreement, the Company shall be liable only for the payment of such maximum as allowed
by law, and payment received from the Company in excess of such legal maximum, whenever received,
shall be applied to reduce the principal balance of any Notes then outstanding to the extent of
such excess, or, if such excess exceeds the then outstanding principal balance, such excess shall
be first set-off against any other amounts then due and owing by the Company and then refunded to
the Company.

 

26

 

9.17 Confidentiality. The parties hereto agree to exercise their best efforts to keep
any non-public information delivered pursuant to this Agreement or the Indenture confidential from
Persons other than those employed by or engaged by each party; provided that such engaged
party agrees to keep such non-public information confidential. This subsection shall not apply to
disclosures required to be made by the parties to any regulatory or governmental agency or pursuant
to legal process. Notwithstanding the foregoing, (a) the parties hereto may disclose to any and
all persons the tax treatment and tax structure of the transactions contemplated hereby and (b) at
any time that the Company is subject to Regulation FD of the Commission (“Regulation FD”),
the Company will not be required to deliver any material non-public information to any Purchaser
unless and until such Purchaser has executed a confidentiality agreement reasonably acceptable to
the Company if the Company is advised by counsel that the delivery of such information to a
Purchaser would require the public disclosure of such information pursuant to Regulation FD.

9.18 No Personal Obligations. Notwithstanding anything to the contrary contained
herein or in any Transaction Document, it is expressly understood and each Purchaser expressly
agrees that nothing contained herein or in any other Transaction Document or in any other document
contemplated hereby or thereby (whether from a covenant, representation, warranty or other
provision herein or therein) shall create, or be construed as creating, any personal liability of
any stockholder, director, officer, employee, agent, partner or Affiliate of the Company and its
Subsidiaries (excluding any such Person which is the Company or any Subsidiary of the Company) in
such Person’s capacity as such or otherwise.

9.19 Home Office Payment. So long as a Purchaser or its nominee shall be the Holder
of any Note, and notwithstanding anything contained in this Agreement, the Indenture or such Note
to the contrary, the Company will pay all sums becoming due on such Note for principal, premium, if
any, and interest by such method and at the address specified for such purpose in Schedule
2.2 or at such other address as such Purchaser shall have from time to time specified to the
Company in writing for such purpose, without the presentation or surrender of such Note or the
making of any notation thereon, except that upon written request of the Company made concurrently
with or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall
surrender such Note for cancellation reasonably promptly after any such request, to the Company at
its principal executive office. Prior to any sale or other disposition of any Note held by a
Purchaser or its nominee, such Purchaser will, at its election, either endorse thereon the amount
of principal paid thereon and the last date to which interest has been paid thereon or surrender
such Note to the Company in exchange for a new Note or Notes pursuant to Section 2.06 of the
Indenture. The Company will afford the benefits of this Section 9.19 to any Institutional
Investor that is the direct or indirect transferee of any Note purchased by a Purchaser under this
Agreement and that has made the same agreement relating to such Note as such Purchaser made in this
Section 9.19. The term “Purchaser” as used in this section shall include only the
Purchasers party hereto and any such Institutional Investor that has made such agreement.

[Signature pages follow]

 

27

 

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

	 	 	 	 	 
	 	ASSOCIATED MATERIALS, LLC

 	 
	 	By:  	/s/ Cynthia Sobe
 	 
	 	 	Name:  	Cynthis Sobe 	 
	 	 	Title:  	Vice President, Chief Financial Officer,
Treasurer and Secretary 	 

PURCHASE AGREEMENT SIGNATURE PAGE

 

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	APOLLO INVESTMENT CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Apollo Investment Management, L.P., as Advisor	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	ACC Management, LLC, as its General Partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	/s/ Rajay Bagaria
 

Name: Rajay Bagaria
	 	 
	 

	 	 	 	 	 	 	 	Title: Partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Richard A. Strait	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Name: Richard A. Strait	 	 
	 	 	 	 	Title: Its Authorized Representative	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	GOLDMAN, SACHS & CO.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Albert Dombrowski	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Name: Albert Dombrowski	 	 
	 	 	 	 	Title: Authorized Signatory	 	 

PURCHASE AGREEMENT SIGNATURE PAGE

 

 

 

EXHIBIT A

INDENTURE

 

 

 

ASSOCIATED MATERIALS, LLC

as Issuer,

THE SUBSIDIARY GUARANTORS

INDENTURE

Dated as of June [     ], 2009

DEUTSCHE BANK TRUST COMPANY AMERICAS

as Trustee

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE 1 Definitions and Incorporation by Reference
	 	 	7	 
	SECTION 1.01. Definitions
	 	 	7	 
	SECTION 1.02. Other Definitions
	 	 	34	 
	SECTION 1.03. TIA Provisions
	 	 	35	 
	SECTION 1.04. Rules of Construction
	 	 	35	 
	 
	 	 	 	 
	ARTICLE 2 The Securities
	 	 	35	 
	SECTION 2.01. Form and Dating
	 	 	35	 
	SECTION 2.02. Execution and Authentication
	 	 	35	 
	SECTION 2.03. Registrar and Paying Agent
	 	 	36	 
	SECTION 2.04. Paying Agent to Hold Money in Trust
	 	 	36	 
	SECTION 2.05. Securityholder Lists
	 	 	37	 
	SECTION 2.06. Transfer and Exchange
	 	 	37	 
	SECTION 2.07. Replacement Securities
	 	 	37	 
	SECTION 2.08. Outstanding Securities
	 	 	38	 
	SECTION 2.09. Temporary Securities
	 	 	38	 
	SECTION 2.10. Cancellation
	 	 	38	 
	SECTION 2.11. Defaulted Interest
	 	 	39	 
	SECTION 2.12. CUSIP Numbers
	 	 	39	 
	 
	 	 	 	 
	ARTICLE 3 Redemption
	 	 	39	 
	SECTION 3.01. Notices to Trustee
	 	 	39	 
	SECTION 3.02. Selection of Securities To Be Redeemed
	 	 	39	 
	SECTION 3.03. Notice of Redemption
	 	 	40	 
	SECTION 3.04. Effect of Notice of Redemption
	 	 	40	 
	SECTION 3.05. Deposit of Redemption Price
	 	 	40	 
	SECTION 3.06. Securities Redeemed in Part
	 	 	41	 
	 
	 	 	 	 
	ARTICLE 4 Covenants
	 	 	41	 
	SECTION 4.01. Payment of Securities
	 	 	41	 
	SECTION 4.02. SEC Reports
	 	 	41	 
	SECTION 4.03. Limitations on Indebtedness
	 	 	42	 
	SECTION 4.04. Limitation on Restricted Payments
	 	 	42	 
	SECTION 4.05. Limitation on Restrictions on Distributions from Restricted
Subsidiaries
	 	 	49	 
	SECTION 4.06. Limitation on Sales of Assets and Subsidiary Stock
	 	 	50	 
	SECTION 4.07. Limitation on Affiliate Transactions
	 	 	53	 
	SECTION 4.08. Limitation on the Sale or Issuance of Capital Stock of Restricted
Subsidiaries 
	 	 	54	 
	SECTION 4.09. Change of Control
	 	 	55	 
	SECTION 4.10. Future Guarantors
	 	 	56	 
	SECTION 4.11. Compliance Certificate
	 	 	56	 
	SECTION 4.12. Further Instruments and Acts
	 	 	56	 
	SECTION 4.13. Dividend Blocker Carveout
	 	 	56	 

 

i

 

Table of Contents
(Continued)

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE 5 Successor Company
	 	 	57	 
	SECTION 5.01. When Company May Merge or Transfer Assets
	 	 	57	 
	 
	 	 	 	 
	ARTICLE 6 Defaults and Remedies
	 	 	58	 
	SECTION 6.01. Events of Default
	 	 	58	 
	SECTION 6.02. Acceleration
	 	 	60	 
	SECTION 6.03. Other Remedies
	 	 	61	 
	SECTION 6.04. Waiver of Past Defaults
	 	 	61	 
	SECTION 6.05. Control by Majority
	 	 	61	 
	SECTION 6.06. Limitation on Suits
	 	 	62	 
	SECTION 6.07. Rights of Holders To Receive Payment
	 	 	62	 
	SECTION 6.08. Collection Suit by Trustee
	 	 	62	 
	SECTION 6.09. Trustee May File Proofs of Claim
	 	 	62	 
	SECTION 6.10. Priorities
	 	 	62	 
	SECTION 6.11. Undertaking for Costs
	 	 	63	 
	SECTION 6.12. Waiver of Stay or Extension Laws
	 	 	63	 
	 
	 	 	 	 
	ARTICLE 7 Trustee
	 	 	64	 
	SECTION 7.01. Duties of Trustee
	 	 	64	 
	SECTION 7.02. Rights of Trustee
	 	 	65	 
	SECTION 7.03. Individual Rights of Trustee
	 	 	66	 
	SECTION 7.04. Trustee’s Disclaimer
	 	 	66	 
	SECTION 7.05. Notice of Defaults
	 	 	66	 
	SECTION 7.06. Reports by Trustee to Holders
	 	 	66	 
	SECTION 7.07. Compensation and Indemnity
	 	 	67	 
	SECTION 7.08. Replacement of Trustee
	 	 	67	 
	SECTION 7.09. Successor Trustee by Merger
	 	 	68	 
	SECTION 7.10. Eligibility; Disqualification
	 	 	69	 
	SECTION 7.11. Preferential Collection of Claims Against Company
	 	 	69	 
	 
	 	 	 	 
	ARTICLE 8 Discharge of Indenture; Defeasance
	 	 	69	 
	SECTION 8.01. Discharge of Liability on Securities; Defeasance
	 	 	69	 
	SECTION 8.02. Conditions to Defeasance
	 	 	70	 
	SECTION 8.03. Application of Trust Money
	 	 	71	 
	SECTION 8.04. Repayment to Company
	 	 	71	 
	SECTION 8.05. Indemnity for Government Obligations
	 	 	71	 
	SECTION 8.06. Reinstatement
	 	 	71	 
	 
	 	 	 	 
	ARTICLE 9 Amendments
	 	 	72	 
	SECTION 9.01. Without Consent of Holders
	 	 	72	 
	SECTION 9.02. With Consent of Holders
	 	 	73	 
	SECTION 9.03. Compliance with Trust Indenture Act
	 	 	74	 
	SECTION 9.04. Revocation and Effect of Consents and Waivers
	 	 	74	 
	SECTION 9.05. Notation on or Exchange of Securities
	 	 	74	 

 

ii

 

Table of Contents
(Continued)

	 	 	 	 	 
	 	 	Page	 
	SECTION 9.06. Trustee To Sign Amendments
	 	 	74	 
	SECTION 9.07. Payment for Consent
	 	 	74	 
	 
	 	 	 	 
	ARTICLE 10 Subordination
	 	 	75	 
	SECTION 10.01. Agreement To Subordinate
	 	 	75	 
	SECTION 10.02. Liquidation, Dissolution, Bankruptcy
	 	 	75	 
	SECTION 10.03. Default on Senior Indebtedness of the Company
	 	 	76	 
	SECTION 10.04. Acceleration of Payment of Securities
	 	 	77	 
	SECTION 10.05. When Distribution Must Be Paid Over
	 	 	77	 
	SECTION 10.06. Subrogation
	 	 	77	 
	SECTION 10.07. Relative Rights
	 	 	77	 
	SECTION 10.08. Subordination May Not Be Impaired by Company
	 	 	77	 
	SECTION 10.09. Rights of Trustee and Paying Agent
	 	 	78	 
	SECTION 10.10. Distribution or Notice to Representative
	 	 	78	 
	SECTION 10.11. Article 10 Not To Prevent Events of Default or Limit Right to
Accelerate
	 	 	78	 
	SECTION 10.12. Trust Moneys Not Subordinated
	 	 	78	 
	SECTION 10.13. Trustee Entitled to Rely
	 	 	78	 
	SECTION 10.14. Trustee To Effectuate Subordination
	 	 	79	 
	SECTION 10.15. Trustee Not Fiduciary for Holders of Senior Indebtedness of the
Company
	 	 	79	 
	SECTION 10.16. Reliance by Holders of Senior Indebtedness of the Company on
Subordination Provisions
	 	 	79	 
	 
	 	 	 	 
	ARTICLE 11 Subsidiary Guaranties
	 	 	79	 
	SECTION 11.01. Guaranties
	 	 	79	 
	SECTION 11.02. Limitation on Liability
	 	 	81	 
	SECTION 11.03. Successors and Assigns
	 	 	81	 
	SECTION 11.04. No Waiver
	 	 	82	 
	SECTION 11.05. Modification
	 	 	82	 
	SECTION 11.06. Release of Subsidiary Guarantor
	 	 	82	 
	 
	 	 	 	 
	ARTICLE 12 Subordination of Subsidiary Guaranties
	 	 	82	 
	SECTION 12.01. Agreement To Subordinate
	 	 	82	 
	SECTION 12.02. Liquidation, Dissolution, Bankruptcy
	 	 	83	 
	SECTION 12.03. Default on Senior Indebtedness of Subsidiary Guarantor
	 	 	83	 
	SECTION 12.04. Demand for Payment
	 	 	84	 
	SECTION 12.05. When Distribution Must Be Paid Over
	 	 	84	 
	SECTION 12.06. Subrogation
	 	 	84	 
	SECTION 12.07. Relative Rights
	 	 	85	 
	SECTION 12.08. Subordination May Not Be Impaired by Company
	 	 	85	 
	SECTION 12.09. Rights of Trustee and Paying Agent
	 	 	85	 
	SECTION 12.10. Distribution or Notice to Representative
	 	 	86	 
	SECTION 12.11. Article 12 Not To Prevent Events of Default or Limit Right To Demand
Payment
	 	 	86	 
	SECTION 12.12. Trustee Entitled To Rely
	 	 	86	 
	SECTION 12.13. Trustee To Effectuate Subordination
	 	 	86	 
	SECTION 12.14. Trustee Not Fiduciary for Holders of Senior Indebtedness of
Subsidiary Guarantor 
	 	 	86	 
	SECTION 12.15. Reliance by Holders of Senior Indebtedness of Subsidiary Guarantors
on Subordination Provisions
	 	 	87	 

 

iii

 

Table of Contents
(Continued)

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE 13 Miscellaneous
	 	 	87	 
	SECTION 13.01. Trust Indenture Act Controls
	 	 	87	 
	SECTION 13.02. Notices
	 	 	87	 
	SECTION 13.03. Communication by Holders with Other Holders
	 	 	88	 
	SECTION 13.04. Certificate and Opinion as to Conditions Precedent
	 	 	88	 
	SECTION 13.05. Statements Required in Certificate or Opinion
	 	 	88	 
	SECTION 13.06. When Securities Disregarded
	 	 	89	 
	SECTION 13.07. Rules by Trustee
	 	 	89	 
	SECTION 13.08. Legal Holidays
	 	 	89	 
	SECTION 13.09. GOVERNING LAW; WAIVER OF JURY TRIAL
	 	 	89	 
	SECTION 13.10. No Recourse Against Others
	 	 	89	 
	SECTION 13.11. Successors
	 	 	90	 
	SECTION 13.12. Multiple Originals
	 	 	90	 
	SECTION 13.13. Table of Contents; Headings
	 	 	90	 
	SECTION 13.14. No Adverse Interpretations of Other Agreements
	 	 	90	 
	SECTION 13.15. Force Majeure
	 	 	90	 
	SECTION 13.16. U.S.A. Patriot Act
	 	 	90	 

 

iv

 

CROSS-REFERENCE TABLE

	 	 	 	 	 	 	 
	TIA	 	 	Indenture	 
	Section	 	 	Section	 
	 
	310
	 	(a)	 	 	7.10	 
	 
	 	(a)(3)	 	 	N.A.	 
	 
	 	(a)(4)	 	 	N.A.	 
	 
	 	(b)	 	 	7.03, 7.08, 7.10	 
	 
	 	(b)(1)	 	 	7.10	 
	 
	 	(c)	 	 	N.A.	 
	311
	 	 	 	 	7.03	 
	311
	 	(a)	 	 	7.11	 
	 
	 	(b)	 	 	7.11	 
	 
	 	(c)	 	 	N.A.	 
	312
	 	(a)	 	 	2.05	 
	 
	 	(b)	 	 	13.03	 
	 
	 	(c)	 	 	13.03	 
	313
	 	(a)	 	 	7.06	 
	 
	 	(b)(1)	 	 	N.A.	 
	 
	 	(b)	 	 	7.06	 
	 
	 	(c)	 	 	N.A.	 
	 
	 	(d)	 	 	N.A.	 
	314
	 	(a)	 	 	4.02	 
	314
	 	(a)(4)	 	 	4.11	 
	 
	 	(b)	 	 	N.A.	 
	 
	 	(c)(1)	 	 	N.A.	 
	 
	 	(c)(2)	 	 	N.A.	 
	 
	 	(c)(3)	 	 	N.A.	 
	 
	 	(d)	 	 	N.A.	 
	 
	 	(e)	 	 	N.A.	 
	 
	 	(f)	 	 	N.A.	 
	315
	 	(a)	 	 	7.01	 
	 
	 	(b)	 	 	N.A.	 
	 
	 	(c)	 	 	N.A.	 
	 
	 	(d)	 	 	N.A.	 
	 
	 	(e)	 	 	N.A.	 
	316
	 	(a)(last sentence)	 	 	N.A.	 
	 
	 	(a)(1)(A)	 	 	N.A.	 
	 
	 	(a)(1)(B)	 	 	N.A.	 
	 
	 	(a)(2)	 	 	N.A.	 
	 
	 	(b)                         N	 	 	.A.	 
	317
	 	(a)(1)	 	 	N.A.	 
	 
	 	(a)(2)	 	 	N.A.	 
	 
	 	(b)                         N	 	 	.A.	 
	318
	 	(a)                         N	 	 	.A.	 

 

5

 

Rule 144A/Regulation S Appendix

Exhibit 1 — Form of Security

Exhibit 2 — Affiliate Subordination Agreement

 

6

 

INDENTURE dated as of June [       ], 2009, among ASSOCIATED MATERIALS, LLC, a Delaware limited
liability company (the “Company”), the Subsidiary Guarantors and DEUTSCHE BANK TRUST COMPANY
AMERICAS, a New York banking corporation, as trustee (the “Trustee”).

Each party agrees as follows for the benefit of the other parties and for the equal and
ratable benefit of the Holders of the Company’s Securities.

ARTICLE 1

Definitions and Incorporation by Reference

SECTION 1.01. Definitions.

“Additional Assets” means:

(1) any property, plant, equipment or other assets used or usable in a Related
Business;

(2) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of
the acquisition of such Capital Stock by the Company or another Restricted Subsidiary; or

(3) Capital Stock constituting a minority interest in any Person that at such time is a
Restricted Subsidiary;

provided, however, that any such Restricted Subsidiary described in clause (2) or (3) above is
primarily engaged in a Related Business.

“Affiliate” of any specified Person means any other Person, directly or indirectly,
controlling or controlled by or under direct or indirect common control with such specified Person.
For the purposes of this definition, “control” when used with respect to any Person means the
power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. For purposes of Sections 4.04 and 4.07
only, “Affiliate” shall also mean any beneficial owner of Capital Stock representing 10% or more of
the total voting power of the Voting Stock (on a fully diluted basis) of the Company or of rights
or warrants to purchase such Capital Stock (whether or not currently exercisable) and any Person
who would be an Affiliate of any such beneficial owner pursuant to the first sentence hereof.

“Affiliate Subordinated Indebtedness” means Subordinated Obligations of the Company or any
Restricted Subsidiary issued to and held by a Person that is an Affiliate of the Company
immediately prior to its incurrence that (a) has a stated maturity and provides for no payment of
the principal of or cash interest or premium, if any, thereof, prior to six months after the Stated
Maturity of the Securities and (b) is contractually subordinated and junior in right of payment to
the prior payment in full in cash of all Obligations of the Company under the
Securities and this Indenture pursuant to a subordination agreement substantially in the form
of Exhibit 2 or otherwise as acceptable to the holders of a majority in principal amount of the
Securities.

 

7

 

“AMH” means AMH Holdings, LLC, a Delaware limited liability company, and its successors.

“AMH Exchange Notes” means notes or other Indebtedness of the Company issued in exchange for
the Existing AMH Notes, and in each case, if applicable, other consideration in exchange for, or
the net proceeds of which are used to Refinance, all or a portion of the Existing AMH Notes.

“AMH Restricted Subsidiary” means a “Restricted Subsidiary” of AMH as that term is used in the
Existing AMH Indenture.

“AMH II” means AMH Holdings II, Inc. a Delaware corporation, and its successors.

“AMI Exchange Notes” means (a) notes or other Indebtedness and any other consideration of the
Company issued in exchange for the Existing AMI Notes; (b) the Existing AMI Notes, after any
amendment to the terms and conditions thereof or of the Existing AMI Indenture, and (c) in each
case, if applicable, other consideration in exchange for, or the net proceeds of which are used to
Refinance, all or a portion of the Existing AMI Notes.

“Asset Disposition” means any sale, lease (other than operating leases entered into in the
ordinary course of business), transfer or other disposition (or series of related sales, leases,
transfers or dispositions) by the Company or any Restricted Subsidiary, including any disposition
by means of a merger, consolidation or similar transaction (each referred to for the purposes of
this definition as a “disposition”), of

(1) any shares of Capital Stock of a Restricted Subsidiary (other than directors’
qualifying shares or shares required by applicable law to be held by a Person other than the
Company or a Restricted Subsidiary);

(2) all or substantially all the assets of any division or line of business of the
Company or any Restricted Subsidiary; or

(3) any other assets of the Company or any Restricted Subsidiary outside of the
ordinary course of business of the Company or such Restricted Subsidiary,

other than, in the case of clauses (1), (2) and (3) above,

(A) a disposition or transfer by a Restricted Subsidiary to the Company or by the
Company or a Restricted Subsidiary to a Restricted Subsidiary;

(B) for purposes of Section 4.06 only, (x) a disposition that constitutes a Restricted
Payment permitted by Section 4.04 or a Permitted Investment or (y) a
disposition of all or substantially all the assets of the Company in accordance with
Section 5.01;

 

8

 

(C) sales or other dispositions of obsolete, uneconomical, negligible, damaged,
worn-out or surplus assets in the ordinary course of business (including but not limited to
equipment, inventory and intellectual property);

(D) a disposition of assets with a fair market value of less than or equal to $1.0
million, not to exceed $5.0 million in the aggregate in any 12 month period;

(E) sale or discount of accounts receivable in connection with the compromise or
collection thereof;

(F) sale or exchange of equipment in connection with the purchase or other acquisition
of equipment; and

(G) sales or grants of licenses to use intellectual property;

provided, however, that a disposition of all or substantially all the assets of the Company and its
Restricted Subsidiaries taken as a whole will be governed by the provisions of this Indenture
described under Section 4.09 and/or the provisions described under Section 5.01 and not by the
provisions described under Section 4.06.

“Attributable Debt” in respect of a Sale/Leaseback Transaction means, as at the time of
determination, the present value (discounted at the interest rate borne by the Securities,
compounded annually) of the total obligations of the lessee for rental payments during the
remaining term of the lease included in such Sale/Leaseback Transaction (including any period for
which such lease has been extended); provided, however, that if such Sale/Leaseback Transaction
results in a Capital Lease Obligation, the amount of Indebtedness represented thereby will be
determined in accordance with the definition of “Capital Lease Obligation.”

“Average Life” means, as of the date of determination, with respect to any Indebtedness, the
quotient obtained by dividing

(1) the sum of the products of the numbers of years from the date of determination to
the dates of each successive scheduled principal payment of or redemption or similar payment
with respect to such Indebtedness multiplied by the amount of such payment by

(2) the sum of all such payments.

“Bank Facilities” means the bank facilities under the Credit Agreement as in effect on April
23, 2002.

“Bank Indebtedness” means all Obligations pursuant to the Credit Agreement.

“Board of Directors” with respect to a Person means the Board of Directors of such Person or
any committee thereof duly authorized to act on behalf of such Board.

 

9

 

“Business Day” means each day which is not a Legal Holiday.

“Capital Lease Obligation” means an obligation that is required to be classified and accounted
for as a capital lease for financial reporting purposes in accordance with GAAP, and the amount of
Indebtedness represented by such obligation shall be the capitalized amount of such obligation
determined in accordance with GAAP; and the Stated Maturity thereof shall be the date of the last
payment of rent or any other amount due under such lease prior to the first date upon which such
lease may be terminated by the lessee without payment of a penalty.

“Capital Stock” of any Person means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated)
equity of such Person, including any Preferred Stock, but excluding any debt securities convertible
into such equity.

“Change of Control” means the occurrence of any of the following events:

(1) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange
Act), other than (directly or indirectly) one or more Permitted Holders, is or becomes the
beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that
such person shall be deemed to have “beneficial ownership” of all shares that any such
person has the right to acquire, whether such right is exercisable immediately or only after
the passage of time, and except that in the case of a “group” pursuant to Rule 13d-5(b)(1)
of the Exchange Act which group includes one or more Permitted Holders (or one or more
Permitted Holders are deemed to share beneficial ownership with one or more other Persons of
any shares of Voting Stock), (i) such “group” shall be deemed not to have beneficial
ownership of any shares held by a Permitted Holder forming a part of such group and (ii) any
Person (other than a Permitted Holder) that is a member of such group (or sharing such
beneficial ownership) shall be deemed not to have beneficial ownership of any shares held by
a Permitted Holder that is a part of such group (or in which such person shares beneficial
ownership)), directly or indirectly, of more than 35% of the total voting power of the
Voting Stock of the Company; provided, however, that the Permitted Holders beneficially own
(as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, in the
aggregate a lesser percentage of the total voting power of the Voting Stock of the Company
than such other person and do not have the right or ability by voting power, contract or
otherwise to elect or designate for election a majority of the Board of Directors of the
Company (for the purposes of this clause (1), (a) such other person shall be deemed to
beneficially own any Voting Stock of a specified Person held by a parent entity if (and any
such parent entity shall be deemed to beneficially own such Voting Stock only if) such other
person is the beneficial owner (as defined in this provision), directly or indirectly, of
more than 35% of the voting power of the Voting Stock of such parent entity and the
Permitted Holders beneficially own (as defined in this provision), directly or indirectly,
in the aggregate a lesser percentage of the voting power of the Voting Stock of such parent
entity and do not have the right or ability by voting power, contract or otherwise to elect
or designate for election a majority of the Board of Directors of such parent entity);

 

10

 

(2) individuals who upon the Issue Date constituted the Board of Directors of the
Company or Parent (together with any new directors whose election by such Board of Directors
of the Company of the Parent Board or whose nomination for election by the shareholders of
the Company or the Parent, as the case may be, was approved by a vote of a majority of the
directors of the Company or the Parent, as the case may be, then still in office who were
either directors on the Issue Date or whose election or nomination for election was
previously so approved) cease for any reason to constitute a majority of the Board of
Directors of the Company or the Parent then in office;

(3) the adoption of a plan relating to the liquidation or dissolution of the Company;

(4) the merger or consolidation of the Company with or into another Person or the
merger of another Person with or into the Company, or the sale of all or substantially all
the assets of the Company to another Person (other than a Person that is controlled by the
Permitted Holders), and, in the case of any such merger or consolidation, the securities of
the Company that are outstanding immediately prior to such transaction and which represent
100% of the aggregate voting power of the Voting Stock of the Company are changed into or
exchanged for cash, securities or property, unless pursuant to such transaction such
securities are changed into or exchanged for, in addition to any other consideration,
securities of the surviving corporation that represent immediately after such transaction,
at least a majority of the aggregate voting power of the Voting Stock of the surviving
corporation; or

(5) while any Existing AMI Notes remain outstanding, a “Change of Control” as defined
under the Existing AMI Indenture has occurred that requires the Company to purchase Existing
AMI Notes pursuant to Section 4.09 of the Existing AMI Indenture and such requirement has
not been waived.

“Code” means the Internal Revenue Code of 1986, as amended.

“Company” means the party named as such in this Indenture until a successor replaces it and,
thereafter, means the successor.

“Company Order” means a written order from the Company to the Trustee requesting the Trustee
to authenticate the Securities.

“Consolidated Coverage Ratio” as of any date of determination means the ratio of (x) the
aggregate amount of EBITDA for the period of the most recent four consecutive fiscal quarters for
which internal financial statements are available on or prior to the date of such determination to
(y) Consolidated Interest Expense for such four fiscal quarters; provided, however, that:

(1) if the Company or any Restricted Subsidiary has Incurred any Indebtedness since the
beginning of such period that remains outstanding or if the transaction giving rise to the
need to calculate the Consolidated Coverage Ratio is an Incurrence of Indebtedness, or both,
EBITDA and Consolidated Interest Expense for such period shall be calculated after giving
effect on a pro forma basis to such Indebtedness as
if such Indebtedness had been Incurred on the first day of such period (and, if such
Indebtedness is revolving Indebtedness, the amount of Indebtedness deemed to be outstanding
for such period shall be the average outstanding amount of such Indebtedness during such
period);

 

11

 

(2) if the Company or any Restricted Subsidiary has repaid, repurchased, defeased or
otherwise discharged any Indebtedness since the beginning of such period or if any
Indebtedness is to be repaid, repurchased, defeased or otherwise discharged (in each case
other than Indebtedness Incurred under any revolving credit facility unless such
Indebtedness has been permanently repaid and has not been replaced) on the date of the
transaction giving rise to the need to calculate the Consolidated Coverage Ratio, EBITDA and
Consolidated Interest Expense for such period shall be calculated on a pro forma basis as if
such discharge had occurred on the first day of such period and as if the Company or such
Restricted Subsidiary had not earned the interest income actually earned during such period
in respect of cash or Temporary Cash Investments used to repay, repurchase, defease or
otherwise discharge such Indebtedness;

(3) if since the beginning of such period the Company or any Restricted Subsidiary
shall have made any Asset Disposition, EBITDA for such period shall be reduced by an amount
equal to EBITDA (if positive) attributable to the assets which are the subject of such Asset
Disposition for such period, or increased by an amount equal to EBITDA (if negative),
attributable thereto for such period and Consolidated Interest Expense for such period shall
be reduced by an amount equal to the Consolidated Interest Expense attributable to any
Indebtedness of the Company or any Restricted Subsidiary repaid, repurchased, defeased or
otherwise discharged with respect to the Company and its continuing Restricted Subsidiaries
in connection with such Asset Disposition for such period (or, if the Capital Stock of any
Restricted Subsidiary is sold, the Consolidated Interest Expense for such period
attributable to the Indebtedness of such Restricted Subsidiary to the extent the Company and
its continuing Restricted Subsidiaries are no longer liable for such Indebtedness after such
sale);

(4) if since the beginning of such period the Company or any Restricted Subsidiary (by
merger or otherwise) shall have made an Investment in any Restricted Subsidiary (or any
person which becomes a Restricted Subsidiary) or an acquisition of assets, including any
acquisition of assets occurring in connection with a transaction requiring a calculation to
be made hereunder, which constitutes all or substantially all of an operating unit of a
business, EBITDA and Consolidated Interest Expense for such period shall be calculated after
giving pro forma effect thereto (including the Incurrence of any Indebtedness) as if such
Investment or acquisition occurred on the first day of such period; and

(5) if since the beginning of such period any Person (that subsequently became a
Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary
since the beginning of such period) shall have made any Asset Disposition, any Investment or
acquisition of assets that would have required an adjustment pursuant to clause (3) or (4)
above if made by the Company or a Restricted Subsidiary during such period, EBITDA and
Consolidated Interest Expense for such
period shall be calculated after giving pro forma effect thereto as if such Asset
Disposition, Investment or acquisition occurred on the first day of such period.

 

12

 

For purposes of this definition, whenever pro forma effect is to be given to an acquisition of
assets (including Capital Stock), the amount of income or earnings relating thereto and the amount
of Consolidated Interest Expense associated with any Indebtedness Incurred in connection therewith,
the pro forma calculations shall be determined in accordance with Regulation S-X under the Exchange
Act or as otherwise acceptable to the SEC. If any Indebtedness bears a floating rate of interest
and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if
the rate in effect on the date of determination had been the applicable rate for the entire period
(taking into account any Interest Rate Agreement applicable to such Indebtedness if such Interest
Rate Agreement has a remaining term in excess of 12 months).

“Consolidated Interest Expense” means, for any period, the total interest expense of the
Company and its consolidated Restricted Subsidiaries, plus, to the extent not included in such
total interest expense, and to the extent Incurred by the Company or its Restricted Subsidiaries,
without duplication,

(1) interest expense attributable to Capital Lease Obligations and the interest expense
attributable to leases constituting part of a Sale/Leaseback Transaction;

(2) amortization of debt discount and debt issuance cost (to the extent not excluded
under clause (a) of the proviso below);

(3) capitalized interest;

(4) non-cash interest expense;

(5) commissions, discounts and other fees and charges owed with respect to letters of
credit and bankers’ acceptance financing;

(6) net payments or receipts pursuant to Hedging Obligations;

(7) dividends declared and paid in cash or Disqualified Stock in respect of (A) all
Preferred Stock of Restricted Subsidiaries and (B) all Disqualified Stock of the Company, in
each case held by Persons other than the Company or a Wholly Owned Subsidiary and, in each
case, excluding dividends payable in Qualified Stock;

(8) interest incurred in connection with Investments in discontinued operations;

(9) interest accruing on any Indebtedness of any other Person (other than a Subsidiary)
to the extent such Indebtedness is Guaranteed by (or secured by the assets of) the Company
or any Restricted Subsidiary and such Indebtedness is accelerated or any payment is actually
made in respect of such Guarantee; and

 

13

 

(10) the cash contributions to any employee stock ownership plan or similar trust to
the extent such contributions are used by such plan or trust to pay interest or fees to any
Person (other than the Company or a Restricted Subsidiary thereof) in connection with
Indebtedness Incurred by such plan or trust,

and less, to the extent included in such interest expense, (a) the amortization during such period
of debt issuance costs; provided, however, that the aggregate amount of amortization relating to
any such debt issuance costs deducted in calculating Consolidated Interest Expense shall not exceed
5.0% of the aggregate amount of the financing giving rise to such debt issuance costs and (b) the
write-off of debt issuance costs and debt discount paid in connection with any early extinguishment
of Indebtedness during such period.

“Consolidated Net Income” means, for any period, the sum of (1) net income of the Company and
its Subsidiaries and (2) to the extent deducted in calculating net income of the Company and its
Subsidiaries, any non-recurring fees, expenses or charges related to the Transactions or any Note
Refinancing ; provided, however, that there shall not be included in such Consolidated Net Income:

(1) any net income of any Person (other than the Company) if such Person is not a
Restricted Subsidiary, except that:

(A) subject to the exclusion contained in clause (3) below, the Company’s
equity in the net income of any such Person for such period shall be included in
such Consolidated Net Income up to the aggregate amount of cash actually distributed
by such Person during such period to the Company or a Restricted Subsidiary as a
dividend or other distribution (subject, in the case of a dividend or other
distribution paid to a Restricted Subsidiary, to the limitations contained in
clause (2) below); and

(B) the Company’s equity in a net loss of any such Person for such period shall
be included in determining such Consolidated Net Income;

(2) any net income of any Restricted Subsidiary if such Restricted Subsidiary is
subject to restrictions, directly or indirectly, on the payment of dividends or the making
of distributions by such Restricted Subsidiary, directly or indirectly, to the Company,
except that:

(A) subject to the exclusion contained in clause (3) below, the Company’s
equity in the net income of any such Restricted Subsidiary for such period shall be
included in such Consolidated Net Income up to the aggregate amount of cash that
could have been distributed by such Restricted Subsidiary during such period to the
Company or another Restricted Subsidiary as a dividend or other distribution
(subject, in the case of a dividend or other distribution paid to another Restricted
Subsidiary, to the limitation contained in this clause); and

(B) the Company’s equity in a net loss of any such Restricted Subsidiary for
such period shall be included in determining such Consolidated Net Income;

 

14

 

(3) any gain or loss (and the related tax effects) realized upon the sale or other
disposition of any assets of the Company, its consolidated Restricted Subsidiaries or any
other Person (including pursuant to any sale-and-leaseback arrangement) which is not sold or
otherwise disposed of in the ordinary course of business and any gain or loss realized upon
the sale or other disposition of any Capital Stock of any Person;

(4) extraordinary, non-cash or non-recurring gains, losses or charges, including
(i) those related to impairment of goodwill and other intangible assets, (ii) the write-off
of capitalized financing costs and related premiums paid in connection with any early
extinguishment of Indebtedness and the related tax effects, and (iii) any gains, losses or
charges relating to any Note Refinancing;

(5) the cumulative effect of a change in accounting principles; and

(6) any net income or loss attributable to discontinued operations.

Notwithstanding the foregoing, for the purposes of Section 4.04 only, there shall be excluded from
Consolidated Net Income any repurchases, repayments or redemptions of Investments, proceeds
realized on the sale of Investments or return of capital to the Company or a Restricted Subsidiary
to the extent such repurchases, repayments, redemptions, proceeds or returns increase the amount of
Restricted Payments permitted under Section 4.04(a)(3)(D).

“Credit Agreement” means the Credit Agreement dated as of April 19, 2002, by and among the
Company, the lenders referred to therein, UBS AG, Stamford Branch, as Administrative Agent, Credit
Suisse First Boston, as Syndication Agent, and CIBC World Markets Corp., as Documentation Agent,
together with the related documents thereto (including any guarantees and security documents,
whether in effect on April 23, 2002 or entered into thereafter), as amended, extended, renewed,
restated, supplemented or otherwise modified. For the avoidance of doubt, within the meaning of
“Credit Agreement” shall be the Loan and Security Agreement, dated as of October 3, 2008, by and
among the Company and Gentek Building Products, Inc., as U.S. Borrowers, Gentek Building Products
Limited, as Canadian Borrower, Associated Materials Holdings, Gentek Holdings, LLC and Alside,
Inc., as guarantors, the lenders and issuing bank from time to time party thereto, Wachovia Bank,
National Association, as administrative and collateral agent, Wachovia Capital Markets, LLC and CIT
Capital Securities, LLC, as joint lead arrangers and joint lead bookrunners, and The CIT
Group/Business Credit, Inc., as syndication agent, as amended, extended, renewed, restated,
supplemented or otherwise modified.

“Credit Facilities” means, with respect to the Company and its Restricted Subsidiaries, one or
more debt facilities (including under the Credit Agreement) or commercial paper facilities with
banks, insurance companies or other institutional lenders providing for revolving credit loans,
term loans, notes, factoring or other receivables financing (including through the sale of
receivables to such lenders or to special purpose entities formed to borrow from or issue
securities to such lenders against such receivables) or letters of credit or other credit
facilities, in each case, as amended, modified, supplemented, increased or restated from time to
time, or refunded, refinanced, restructured, replaced, renewed, repaid or extended from time to
time (whether with the original agents and lenders or other agents or lenders or
otherwise, and whether provided under the original credit agreement or other credit agreements
or otherwise).

 

15

 

“Currency Agreement” means in respect of a Person any foreign exchange contract, currency swap
agreement or other similar agreement designed to protect such Person against fluctuations in
currency values.

“Default” means any event which is, or after notice or passage of time or both would be, an
Event of Default.

“Designated Senior Indebtedness”, with respect to a Person, means

(1) the Bank Indebtedness; and

(2) any other Senior Indebtedness of such Person which, at the date of determination,
has an aggregate principal amount outstanding of, or under which, at the date of
determination, the holders thereof are committed to lend up to, at least $25.0 million and
is specifically designated by such Person in the instrument evidencing or governing such
Senior Indebtedness as “Designated Senior Indebtedness” for purposes of this Indenture.

“Disqualified Stock” means, with respect to any Person, that portion of any Capital Stock
which by its terms (or by the terms of any security into which it is convertible or for which it is
exchangeable at the option of the holder) or upon the happening of any event:

(1) matures (excluding any maturity as a result of an optional redemption by the issuer
thereof) or is mandatorily redeemable (other than redeemable only for Capital Stock of such
Person which is not itself Disqualified Stock) pursuant to a sinking fund obligation or
otherwise;

(2) is convertible or exchangeable at the option of the holder for Indebtedness or
Disqualified Stock; or

(3) is mandatorily redeemable or must be purchased upon the occurrence of certain
events or otherwise, in whole or in part;

in each case on or prior to the date that is 91 days after the Stated Maturity of the Securities;
provided, however, that if such Capital Stock is issued to any employee or to any plan for the
benefit of employees of the Company or its Subsidiaries or by any such plan to such employees, such
Capital Stock shall not constitute Disqualified Stock solely because it may be required to be
repurchased by the Company in order to satisfy obligations as a result of such employee’s death or
disability; and provided, further, however, that any Capital Stock that would not constitute
Disqualified Stock but for provisions thereof giving holders thereof the right to require such
Person to purchase or redeem such Capital Stock upon the occurrence of an “asset sale” or “change
of control” occurring prior to the date that is 91 days after the Stated Maturity of the Securities
shall not constitute Disqualified Stock if the “asset sale” or “change of control” provisions
applicable to such Capital Stock are not more favorable to the holders of such Capital Stock than
the terms applicable to the Securities in Section 4.06 and 4.09 of this Indenture.

 

16

 

The amount of any Disqualified Stock that does not have a fixed redemption, repayment or
repurchase price shall be calculated in accordance with the terms of such Disqualified Stock as if
such Disqualified Stock were redeemed, repaid or repurchased on any date on which the amount of
such Disqualified Stock is to be determined pursuant to this Indenture; provided, however, that if
such Disqualified Stock could not be required to be redeemed, repaid or repurchased at the time of
such determination, the redemption, repayment or repurchase price shall be the book value of such
Disqualified Stock as reflected in the most recent financial statements of such Person.

“EBITDA” for any period means the sum of Consolidated Net Income, plus the following to the
extent deducted in calculating such Consolidated Net Income:

(1) all income tax expense of the Company and its consolidated Restricted Subsidiaries;

(2) Consolidated Interest Expense;

(3) depreciation and amortization expense of the Company and its consolidated
Restricted Subsidiaries (excluding amortization expense attributable to a prepaid operating
activity item that was paid in cash in a prior period); and

(4) all other non-cash charges of the Company and its consolidated Restricted
Subsidiaries (excluding any such non-cash charge to the extent that it represents an accrual
of or reserve for cash expenditures in any future period);

in each case for such period determined in accordance with GAAP. Notwithstanding the foregoing,
the provision for taxes based on the income or profits of, and the depreciation and amortization
and non-cash charges of, a Restricted Subsidiary shall be added to Consolidated Net Income to
compute EBITDA only to the extent (and in the same proportion, including by reason of minority
interest) that the net income of such Restricted Subsidiary was included in calculating
Consolidated Net Income and only if a corresponding amount would be permitted at the date of
determination to be dividended to the Company by such Restricted Subsidiary without prior approval
(that has not been obtained), pursuant to the terms of its charter and all agreements, instruments,
judgments, decrees, orders, statutes, rules and governmental regulations applicable to such
Restricted Subsidiary or its stockholders. In addition, to the extent reducing EBITDA for any
period, all costs and charges directly relating to the Transactions and the Note Refinancing shall
be excluded.

“Equity Financing” means the financing by Parent of at least $172.0 million of equity capital
to provide a portion of the funds for the Equity Tender Offer and the Merger.

“Equity Offering” means a primary offering of common stock or common equity of Parent or the
Company.

“Equity Tender Offer” means the cash tender offer for 100% of the shares of common stock of
the Company at a price of $50.00 per share.

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

 

17

 

“Existing AMH II Notes” means AMH II’s 13.625% Senior Notes Due 2014.

“Existing AMH Indenture” means the Indenture dated as of March 4, 2004, between AMH and
Wilmington Trust Company, as trustee.

“Existing AMH Notes” means AMH’s 11 1/4% Senior Discount Notes Due 2014.

“Existing AMI Notes” means the Company’s 9 3/4% Senior Subordinated Notes Due 2012.

“Existing AMI Indenture” means the Indenture dated as of April 23, 2002, among the Company and
Wilmington Trust Company, as trustee, as amended.

“GAAP” means generally accepted accounting principles in the United States of America as in
effect as of April 23, 2002, including those set forth in

(1) the opinions and pronouncements of the Accounting Principles Board of the American
Institute of Certified Public Accountants;

(2) statements and pronouncements of the Financial Accounting Standards Board;

(3) such other statements by such other entity as approved by a significant segment of
the accounting profession; and

(4) the rules and regulations of the SEC governing the inclusion of financial
statements (including pro forma financial statements) in periodic reports required to be
filed pursuant to Section 13 of the Exchange Act, including opinions and pronouncements in
staff accounting bulletins and similar written statements from the accounting staff of the
SEC.

All ratios and computations based on GAAP contained in this Indenture shall be computed in
conformity with GAAP.

“Guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Indebtedness of any Person and any obligation, direct or indirect,
contingent or otherwise, of such Person

(1) to purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness of such Person (whether arising by virtue of partnership arrangements, or by
agreements to keep-well, to purchase assets, goods, securities or services, to take-or-pay
or to maintain financial statement conditions or otherwise); or

(2) entered into for the purpose of assuring in any other manner the obligee of such
Indebtedness of the payment thereof or to protect such obligee against loss in respect
thereof (in whole or in part);

 

18

 

provided, however, that the term “Guarantee” shall not include endorsements for collection or
deposit in the ordinary course of business. The term “Guarantee” used as a verb has a
corresponding meaning.

“Guaranty” means each Subsidiary Guaranty, as applicable.

“Guaranty Agreement” means a supplemental indenture, in a form satisfactory to the Trustee,
pursuant to which a Subsidiary Guarantor guarantees the Company’s obligations with respect to the
Securities on the terms provided for in this Indenture.

“Harvest Management Services Agreement” means the management agreement, dated as of April 19,
2002 between Harvest Partners, Inc. and the Company entered into in connection with the
Transaction.

“Hedging Obligations” of any Person means the obligations of such Person pursuant to any
Interest Rate Agreement or Currency Agreement or similar Agreement.

“Holder” or “Securityholder” means the Person in whose name a Security is registered on the
Registrar’s books.

“Holding Companies” means Parent, AMH and AMH II or any other direct or indirect parent of the
Company.

“Incur” means issue, assume, Guarantee, incur or otherwise become liable for; provided,
however, that any Indebtedness or Capital Stock of a Person existing at the time such Person
becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise) shall
be deemed to be Incurred by such Person at the time it becomes a Restricted Subsidiary. The term
“Incurrence” when used as a noun shall have a correlative meaning.

“Indebtedness” means, with respect to any Person on any date of determination (without
duplication):

(1) the principal in respect of (A) indebtedness of such Person for borrowed money and
(B) indebtedness evidenced by notes, debentures, bonds or other similar instruments for the
payment of which such Person is responsible or liable, including, in each case, any premium
on such indebtedness to the extent such premium has become due and payable;

(2) all Capital Lease Obligations of such Person and all Attributable Debt in respect
of Sale/Leaseback Transactions entered into by such Person;

(3) all obligations of such Person issued or assumed as the deferred purchase price of
property, all conditional sale obligations of such Person and all obligations of such Person
under any title retention agreement (but excluding trade accounts payable arising in the
ordinary course of business);

 

19

 

(4) all obligations of such Person for the reimbursement of any obligor on any letter
of credit, bankers’ acceptance or similar credit transaction (other than obligations
with respect to letters of credit securing obligations (other than obligations
described in clauses (1) through (3) above) entered into in the ordinary course of business
of such Person to the extent such letters of credit are not drawn upon or, if and to the
extent drawn upon, such drawing is reimbursed no later than the tenth Business Day following
payment on the letter of credit);

(5) the amount of all obligations of such Person with respect to the redemption,
repayment or other repurchase of any Disqualified Stock of such Person or, with respect to
any Preferred Stock of any Subsidiary of such Person, the principal amount of such Preferred
Stock to be determined in accordance with this Indenture (but excluding, in each case, any
accrued dividends);

(6) all obligations of the type referred to in clauses (1) through (5) of other Persons
and all dividends of other Persons for the payment of which, in either case, such Person is
responsible or liable, directly or indirectly, as obligor, guarantor or otherwise, including
by means of any Guarantee;

(7) all obligations of the type referred to in clauses (1) through (6) of other Persons
secured by any Lien on any property or asset of such Person (whether or not such obligation
is assumed by such Person), the amount of such obligation being deemed to be the lesser of
the value of such property or assets and the amount of the obligation so secured; and

(8) to the extent not otherwise included in this definition, Hedging Obligations of
such Person.

The amount of Indebtedness of any Person at any date shall be the outstanding balance at such
date of all unconditional obligations as described above and the maximum liability, upon the
occurrence of the contingency giving rise to the obligation, of any contingent obligations at such
date; provided, however, that in the case of Indebtedness sold at a discount, the amount of such
Indebtedness at any time will be the accreted value thereof at such time.

“Indenture” means this Indenture as amended or supplemented from time to time.

“Independent Qualified Party” means an investment banking firm, accounting firm or appraisal
firm of national standing; provided, however, that such firm is not an Affiliate of the Company.

“Interest Rate Agreement” means the obligations of any Person pursuant to any arrangement with
any other Person, whereby, directly or indirectly, such Person is entitled to receive from time to
time periodic payments calculated by applying either a floating or a fixed rate of interest on a
stated notional amount in exchange for periodic payments made by such other Person calculated by
applying a fixed or a floating rate of interest on the same notional amount and shall include
interest rate swaps, caps, floors, collars and similar agreements to protect such Person against
fluctuations in interest rates.

 

20

 

“Investcorp Management Services Agreements” means (i) the Agreement for Management Advisory,
Strategic Planning and Consulting Services, dated as of December 22,
2004, between Investcorp International Inc. and the Company, (ii) the Financing Advisory
Services Agreement, dated as of December 22, 2004, between Investcorp International Inc. and the
Company, and (iii) M&A Advisory Services Agreement, dated as of December 5, 2004, between
Investcorp International Inc. and the Company.

“Investment” in any Person means any direct or indirect advance, loan (other than advances to
customers in the ordinary course of business that are recorded as accounts receivable on the
balance sheet of the lender) or other extensions of credit (including by way of Guarantee or
similar arrangement) or capital contribution to (by means of any transfer of cash or other property
to others or any payment for property or services for the account or use of others), or any
purchase or acquisition of Capital Stock, Indebtedness or other similar instruments issued by such
Person. Except as otherwise provided for herein, the amount of an Investment shall be its fair
value at the time the Investment is made and without giving effect to subsequent changes in value.

For purposes of the definition of “Unrestricted Subsidiary,” the definition of
“Restricted Payment” and Section 4.04:

(1) “Investment” shall include the portion (proportionate to the Company’s equity
interest in such Subsidiary) of the fair market value of the net assets of any Subsidiary of
the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; and

(2) any property transferred to or from an Unrestricted Subsidiary shall be valued at
its fair market value at the time of such transfer, in each case as determined in good faith
by the Board of Directors of the Company.

“Issue Date” means the date on which the Securities are originally issued.

“Junior” means in relation to specified Indebtedness that the Securities (a) are subject to
any contractual or structural subordination or (b) in the case of specified Secured Indebtedness,
are unsecured or secured by a Lien junior to the Lien securing such specified Indebtedness or a
Lien on less than all of the collateral securing such specified Indebtedness.

“Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions are not
required to be open in the State of New York.

“Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind
(including any conditional sale or other title retention agreement or lease in the nature thereof).

“Merger” means the merger of Simon Acquisition Corp. with and into Associated Materials
Incorporated pursuant to the Merger Agreement.

“Merger Agreement” means the Agreement and Plan of Merger dated as of March 16, 2002 by and
among Simon Acquisition Corp., Parent and the Company.

 

21

 

“Net Available Cash” from an Asset Disposition means cash payments received therefrom
(including any cash payments received by way of deferred payment of principal pursuant to a note or
installment receivable or otherwise and proceeds from the sale or other disposition of any
securities received as consideration, but only as and when received, but excluding any other
consideration received in the form of assumption by the acquiring Person of Indebtedness or other
obligations relating to such properties or assets or received in any other non-cash form), in each
case net of:

(1) all legal, title and recording tax expenses, underwriting discounts, commissions
and other fees and expenses incurred (including fees and expenses of counsel, accountants
and investment bankers), and all Federal, state, provincial, foreign and local taxes
required to be accrued as a liability under GAAP, as a consequence of such Asset
Disposition;

(2) all payments made on any Indebtedness which is secured by any assets subject to
such Asset Disposition, in accordance with the terms of any Lien upon or other security
agreement of any kind with respect to such assets, or which must by its terms, or in order
to obtain a necessary consent to such Asset Disposition, or by applicable law, be repaid out
of the proceeds from such Asset Disposition;

(3) all distributions and other payments required to be made to minority interest
holders in Restricted Subsidiaries as a result of such Asset Disposition; and

(4) the deduction of appropriate amounts provided by the seller as a reserve, in
accordance with GAAP, against any current or contingent liabilities associated with the
property or other assets disposed in such Asset Disposition and retained by the Company or
any Restricted Subsidiary after such Asset Disposition.

“Net Cash Proceeds”, with respect to any issuance or sale of Capital Stock, means the cash
proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or
placement agents’ fees, discounts or commissions and brokerage, consultant and other fees actually
Incurred in connection with such issuance or sale and net of taxes paid or payable as a result
thereof.

“Note Refinancing” means any amendment (or other modification) in any manner of any of the
material terms of, or any Refinancing of, all or any part of the Obligations under the Existing AMI
Notes or the Existing AMH Notes, or both, including (i) any amendment of the Existing AMI Notes or
the Existing AMI Indenture or the issuance of notes or other Indebtedness of the Company and, if
applicable, other consideration in exchange for, or the net proceeds of which are used to
Refinance, all or a portion of the Existing AMI Notes, whether or not the principal amount of any
such notes or other Indebtedness being issued is less or greater than the principal amount of the
Existing AMI Notes, whether such notes or other Indebtedness is secured or unsecured, senior or
subordinated, and irrespective of the terms of any indenture or other debt agreement or agreements
evidencing such notes or other Indebtedness, (ii) the issuance of notes or other Indebtedness of
the Company and, if applicable, other consideration in exchange for, or the net proceeds of which
are used to Refinance, all or a portion of the Existing AMH Notes, whether or not the principal
amount of such notes or other Indebtedness is less or
greater than the principal amount of the Existing AMH Notes, whether such notes or other
Indebtedness is secured or unsecured, senior or subordinated, and irrespective of the terms of any
indenture or other debt agreement or agreements evidencing such notes or other Indebtedness, and
the distribution of the exchanged Existing AMH Notes to AMH for cancellation, (iii) the issuance of
the Replacement AMI Notes or (iv) any amendment of the Credit Facilities, if incurred pursuant to
Section 4.03(b)(1) hereof, including to permit the transactions taking place as part of the
transactions referred to in clause (i), (ii) and (iii) hereof, in each case including the payment
of accrued interest and fees and expenses in connection therewith.

 

22

 

“Note Refinancing Conditions” means:

(1) the Note Refinancing (other than an amendment of the Credit Facilities to permit the
fulfillment of the Company’s obligations under Section 6.1 of the Purchase Agreement) shall
have been consummated on or prior to the first anniversary of the Issue Date;

(2) no Default or Event of Default shall then exist or result from the Note Refinancing;

(3) after giving effect to the Note Refinancing on a pro forma basis, the Consolidated
Coverage Ratio (with references to the Company and its Restricted Subsidiaries in such
definition instead referring to AMH II and its Subsidiaries) of AMH II and its Subsidiaries
shall not be less than, and the Leverage Ratio (as defined as of the date hereof in the
indenture relating to the Existing AMH II Notes) of AMH II and its Subsidiaries shall not be
greater than, such Consolidated Coverage Ratio and such Leverage Ratio immediately prior to
the Note Refinancing;

(4) if applicable, the Company shall have commenced an offer to the holders of the
Securities to exchange their Securities for Replacement AMI Notes in accordance with the
terms of the Purchase Agreement (which, for the avoidance of doubt, may occur following any
Note Refinancing); and

(5) the Credit Facilities, if incurred pursuant to Section 4.03(b)(1) hereof, shall be
comprised entirely of a revolving facility and shall not contain any term Indebtedness.

“Note Tender Offer” means the tender offer by the Company of all its 9 1/4% senior
subordinated notes due 2008, including the change of control offer required pursuant to the
indenture governing such 9 1/4% senior subordinated notes and the defeasance of any such remaining
9 1/4% senior subordinated notes after such change of control offer.

“Obligations” means with respect to any Indebtedness all obligations for principal, premium,
interest, penalties, fees, indemnifications, reimbursements and other amounts payable pursuant to
the documentation governing such Indebtedness.

“Offering” means the issue and sale of the Securities pursuant to the Purchase Agreement.

 

23

 

“Officer” means the Chairman of the Board, the President, the Chief Financial Officer, any
Vice President, the Treasurer or the Secretary of the Company.

“Officers’ Certificate” means a certificate signed by two Officers one of whom shall be the
principal financial officer of the Company, and in the case of Section 4.11, shall be the principal
financial officer, principal executive officer or principal accounting officer.

“Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the
Trustee. The counsel may be an employee of or counsel to the Company or the Trustee.

“Parent” means Associated Materials Holdings, LLC, a Delaware limited liability company, and
its successors.

“Parent Board” means the Board of Directors of the Parent or any committee thereof duly
authorized to act on behalf of such Board.

“Pari Passu” means, with respect to any specified Indebtedness, that (a) the Securities are
not contractually or structurally subordinated to such specified Indebtedness, (b) such specified
Indebtedness does not (i) have a maturity or scheduled principal payments more than 3 months prior
to the maturity of the Securities or (ii) provide for guarantees or other credit support that is
greater than that applicable to the Securities and (c) if such specified Indebtedness is Secured
Indebtedness, the Securities are equally and ratably secured with such Indebtedness by all
collateral securing such Indebtedness.

“Permitted Holders” means the “Purchasers” and the “Sellers” under the Stock Purchase
Agreement and Permitted Transferees.

“Permitted Investment” means an Investment by the Company or any Restricted Subsidiary in:

(1) the Company, a Restricted Subsidiary or a Person that will, upon the making of such
Investment, become a Restricted Subsidiary; provided, however, that the primary business of
such Restricted Subsidiary is a Related Business;

(2) another Person if as a result of such Investment such other Person is merged or
consolidated with or into, or transfers or conveys all or substantially all its assets to,
the Company or a Restricted Subsidiary; provided, however, that such Person’s primary
business is a Related Business;

(3) cash and Temporary Cash Investments;

(4) receivables owing to the Company or any Restricted Subsidiary if created or
acquired in the ordinary course of business and payable or dischargeable in accordance with
customary trade terms; provided, however, that such trade terms may include such
concessionary trade terms as the Company or any such Restricted Subsidiary deems reasonable
under the circumstances;

 

24

 

(5) payroll, moving, travel and similar advances to cover matters that are expected at
the time of such advances ultimately to be treated as expenses for accounting purposes and
that are made in the ordinary course of business;

(6) loans or advances to employees, directors or consultants made in the ordinary
course of business in an aggregate amount not to exceed $2.0 million at any time
outstanding;

(7) stock, obligations or securities received in settlement of debts created in the
ordinary course of business and owing to the Company or any Restricted Subsidiary or in
satisfaction of judgments;

(8) any Person to the extent such Investment represents the non-cash portion of the
consideration received for an Asset Disposition as permitted pursuant to Section 4.06;

(9) any Person where such Investment was acquired by the Company or any of its
Restricted Subsidiaries (a) in exchange for any other Investment or accounts receivable held
by the Company or any such Restricted Subsidiary in connection with or as a result of a
bankruptcy, workout, reorganization or recapitalization of the issuer of such other
Investment or accounts receivable or (b) as a result of a foreclosure by the Company or any
of its Restricted Subsidiaries with respect to any secured Investment or other transfer of
title with respect to any secured Investment in default;

(10) Hedging Obligations of the Company’s or any Restricted Subsidiary’s business and
not for the purpose of speculation;

(11) Investments existing on the Issue Date and any such Investment that replaces or
refinances such Investment in such Person existing on the Issue Date in an amount not
exceeding the amount of the Investment being replaced or refinanced; provided, however, the
new Investment is on terms and conditions no less favorable than the Investment being
renewed or replaced;

(12) Guarantees of Indebtedness otherwise permitted under this Indenture;

(13) Investments the payment of which consists of Qualified Stock of any of the Holding
Companies or the Company;

(14) Investments in the Securities;

(15) Investments consisting of obligations of one or more consultants, officers,
directors or other employees of the Company or any of its Subsidiaries in connection with
such consultants, officers’, directors’ or employees’ acquisition of shares of capital stock
of any of the Holding Companies or the Company so long as no cash is paid by the Company or
any of its Subsidiaries to such consultants, officers, directors or employees in connection
with the acquisition of any such obligations; and

 

25

 

(16) other Investments in any Person having an aggregate fair market value (measured on
the date each such Investment was made and without giving effect to subsequent changes in
value), when taken together with all other Investments made pursuant to this clause (16)
that are at the time outstanding, not to exceed $2.5 million.

“Permitted Transferee” means, with respect to any Person:

(1) any Affiliate of that Person;

(2) the spouse, former spouse, lineal descendants, heirs, executors, administrators,
testamentary trustees, legatees or beneficiaries of any such Person;

(3) a trust, the beneficiaries of which, or a corporation or partnership or limited liability
company, the stockholders, general or limited partners or members of which, include only such
Person or his or her spouse, former spouse, lineal descendants or heirs, in each case to whom such
Person has transferred, or through which such Person holds, the beneficial ownership (as such term
is used in clause (1) of the definition of Change of Control) of any securities of the Company;

(4) any investment fund or investment entity that is a subsidiary of such Person or a
Permitted Transferee of or managed by such Person;

(5) (a) Harvest Partners, Inc., (b) any Affiliate of Harvest Partners, Inc., (c) any other
Person with whom Harvest Partners, Inc. or any Affiliate thereof has any administrative
relationship with respect to securities of the Company and (d) any holder of Capital Stock of any
Person referred to in the foregoing clause (c); and

(6) (a) Investcorp S.A., (b) any Affiliate of Investcorp S.A., (c) any other Person with whom
Investcorp S.A. or any Affiliate thereof has any administrative relationship with respect to
securities of the Company and (d) any holder of Capital Stock of any Person referred to in the
foregoing clause (c).

“Person” means any individual, corporation, partnership, limited liability company, joint
venture, association, joint-stock company, trust, unincorporated organization, government or any
agency or political subdivision thereof or any other entity.

“Preferred Stock”, as applied to the Capital Stock of any Person, means Capital Stock of any
class or classes (however designated) which is preferred as to the payment of dividends or
distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or
dissolution of such Person, over shares of Capital Stock of any other class of such Person.

“principal” of a Security means the principal of the Security plus the premium, if any,
payable on the Security which is due or overdue or is to become due at the relevant time.

“Purchase Agreement” means a purchase agreement dated June [     ], 2009 between the Company
and the Purchasers (as defined therein) to effectuate the Offering.

 

26

 

“Qualified Stock” means any Capital Stock that is not Disqualified Stock.

“Refinance” means, in respect of any Indebtedness, to refinance, amend, extend, renew, refund,
repay, prepay, redeem, defease or retire, or to issue other Indebtedness in exchange or replacement
for, such Indebtedness.

“Refinanced” and “Refinancing” shall have correlative meanings.

“Refinancing Indebtedness” means Indebtedness that Refinances any Indebtedness of the Company
or any Restricted Subsidiary incurred pursuant to Section 4.03(a) or Section 4.03(b)(3), (4), (5),
(7), (8), (10) or (14); provided, however, that:

(1) such Refinancing Indebtedness has a Stated Maturity no earlier than the Stated
Maturity of the Indebtedness being Refinanced;

(2) such Refinancing Indebtedness has an Average Life at the time such Refinancing
Indebtedness is Incurred that is equal to or greater than the Average Life of the
Indebtedness being Refinanced; and

(3) such Refinancing Indebtedness has an aggregate principal amount (or if Incurred
with original issue discount, an aggregate issue price) that is equal to or less than the
aggregate principal amount (or if Incurred with original issue discount, the aggregate
accreted value) then outstanding or committed (plus fees and expenses, including any premium
and defeasance costs) under the Indebtedness being Refinanced;

provided, further, however, that Refinancing Indebtedness shall not include (A) Indebtedness of a
Restricted Subsidiary that Refinances Indebtedness of the Company or (B) Indebtedness of the
Company or a Restricted Subsidiary that Refinances Indebtedness of an Unrestricted Subsidiary.

“Related Business” means any business in which the Company or any of its Restricted was
engaged on the Issue Date and any business reasonably related, ancillary or complementary to any
business of the Company or any of its Restricted Subsidiaries in which the Company or any of its
Restricted Subsidiaries was engaged on the Issue Date or a reasonable expansion thereof.

“Replacement AMI Notes” means the notes, if any, issued in exchange for the Securities, as
contemplated by Section 6.1 of the Purchase Agreement.

“Representative” means with respect to a Person any trustee, agent or representative (if any)
for an issue of Senior Indebtedness of such Person.

 

27

 

“Restricted Payment” with respect to any Person means:

(1) the declaration or payment of any dividends or any other distributions of any sort
in respect of its Capital Stock (including any payment in connection with any merger or
consolidation involving such Person) or similar payment to the direct or indirect holders of
its Capital Stock (other than dividends or distributions payable solely
in its Capital Stock (other than Disqualified Stock) and dividends or distributions
payable solely to the Company or a Restricted Subsidiary);

(2) the purchase, redemption or other acquisition or retirement for value of any
Capital Stock of the Company held by any Person or of any Capital Stock of a Restricted
Subsidiary held by any Affiliate of the Company (other than a Restricted Subsidiary),
including the exercise of any option to exchange any Capital Stock (other than into Capital
Stock of the Company that is not Disqualified Stock);

(3) the purchase, repurchase, redemption, defeasance or other acquisition or retirement
for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund
payment of any Subordinated Obligations of such Person (other than the purchase, repurchase
or other acquisition of Subordinated Obligations purchased in anticipation of satisfying a
sinking fund obligation, principal installment or final maturity, in each case due within
one year of the date of such purchase, repurchase or other acquisition); or

(4) the making of any Investment (other than a Permitted Investment) in any Person.

“Restricted Subsidiary” means any Subsidiary of the Company that is not an Unrestricted
Subsidiary.

“Sale/Leaseback Transaction” means an arrangement relating to property owned by the Company or
a Restricted Subsidiary on the Issue Date or thereafter acquired by the Company or a Restricted
Subsidiary whereby the Company or a Restricted Subsidiary transfers such property to a Person and
the Company or a Restricted Subsidiary leases it from such Person.

“SEC” means the U.S. Securities and Exchange Commission.

“Secured Indebtedness” means any Indebtedness of the Company or a Subsidiary Guarantor for
borrowed money that is secured by a Lien on assets of the Company or a Subsidiary Guarantor.

“Securities Act” means the U.S. Securities Act of 1933, as amended.

“Senior” means, in relation to the Securities, that the specified other Indebtedness (x) is
either unsecured or, if the Securities become Secured Indebtedness, secured by a Lien junior to the
Securities pursuant to customary “silent junior lien” intercreditor arrangements satisfactory to
the holders of a majority in principal amount of the Securities (provided that any intercreditor
arrangements that are accepted by the majority of the holders of the AMI Exchange Notes shall be
deemed satisfactory to the holders of the Securities), (y) is subordinated in right of payment to
the Securities on subordination terms no less favorable to the Holders in any material respect than
those contained in Article 10 in respect of the Securities, and (z) has no scheduled principal
payments earlier than October 15, 2012.

“Senior Indebtedness” means with respect to any Person:

 

28

 

(1) Indebtedness of such Person, whether outstanding on the Issue Date or thereafter
Incurred, including, and together with, all Obligations under the Credit Facilities; and

(2) accrued and unpaid interest (including interest accruing on or after the filing of,
or which would have accrued but for the filing of, any petition in bankruptcy or for
reorganization relating to such Person whether or not post-filing interest is allowed in
such proceeding) in respect of (A) indebtedness of such Person for borrowed money,
including, and together with, all Obligations under the Credit Facilities, (B) Hedging
Obligations and (C) indebtedness evidenced by notes, debentures, bonds or other similar
instruments for the payment of which such Person is responsible or liable

unless, in the case of clauses (1) and (2), in the instrument creating or evidencing the same or
pursuant to which the same is outstanding, it is expressly provided that such obligations are
subordinate or pari passu in right of payment to the Securities or the Guaranty of such Person, as
the case may be; provided, however, that Senior Indebtedness shall not include

(1) any obligation of such Person to any Subsidiary;

(2) any liability for Federal, state, local or other taxes owed or owing by such
Person;

(3) any accounts payable or other liability to trade creditors arising in the ordinary
course of business including guarantees thereof or instruments evidencing such liabilities);

(4) any Indebtedness of such Person (and any accrued and unpaid interest in respect
thereof) which is subordinate or junior in any respect to any other Indebtedness or other
obligation of such Person; or

(5) that portion of any Indebtedness which at the time of Incurrence is Incurred in
violation of this Indenture, except to the extent that the Indebtedness so incurred was
extended by the lenders thereof in reliance on a certificate executed and delivered by the
president, chief executive officer or chief financial or accounting officer of the Company
in which certificate such officer certified that the incurrence of such Indebtedness was
permitted under the proviso in clause (1) in paragraph (b) of Section 4.03.

“Senior Subordinated Indebtedness” means, with respect to a Person, the Securities and the
Existing AMI Notes (in the case of the Company), each Guaranty and each Guarantee under the
Existing AMI Notes (in the case of the applicable Subsidiary Guarantor) and any other Indebtedness
of such Person that specifically provides that such Indebtedness is to rank pari passu with the
Securities or such Guaranty, as the case may be, in right of payment and is not subordinated by its
terms in right of payment to any Indebtedness or other obligation of such Person which is not
Senior Indebtedness of such Person.

 

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“Significant Subsidiary” means any Restricted Subsidiary that would be a “Significant
Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the
SEC.

“Simon Acquisition Corp.” means Simon Acquisition Corp., a Delaware corporation.

“Stated Maturity” means, with respect to any security, the date specified in such security as
the fixed date on which the final payment of principal of such security is due and payable,
including pursuant to any mandatory redemption provision (but excluding any provision providing for
the repurchase of such security at the option of the holder thereof upon the happening of any
contingency unless such contingency has occurred).

“Stock Purchase Agreement” means the Stock Purchase Agreement, dated as of December 5, 2004,
among AMH, Harvest Partners, Inc., the other sellers named therein, AM Holding Limited, AM Equity
Limited, AM Investments Limited, Associated Equity Limited and Associated Investments Limited.

“Subordinated Obligation” means, with respect to a Person, any Indebtedness of such Person
(whether outstanding on the Issue Date or thereafter Incurred) which is subordinate or junior in
right of payment to the Securities or a Guaranty of such Person, as the case may be, pursuant to a
written agreement to that effect.

“Subordinated Securities Obligations” means all Obligations with respect to the Securities,
including principal, premium (if any), interest payable pursuant to the terms of the Securities
(including upon the acceleration or redemption thereof), together with and including any amounts
received or receivable upon the exercise of rights of rescission or other rights of action
(including claims for damages) or otherwise.

“Subsidiary” means, with respect to any Person, any corporation, association, partnership or
other business entity of which more than 50% of the total voting power of shares of Voting Stock is
at the time owned or controlled, directly or indirectly, by

(1) such Person;

(2) such Person and one or more Subsidiaries of such Person; or

(3) one or more Subsidiaries of such Person.

“Subsidiary Guarantor” means each domestic Subsidiary of the Company that executes this
Indenture as a guarantor on the Issue Date and each other domestic Subsidiary of the Company that
thereafter guarantees the Securities pursuant to the terms of this Indenture.

“Subsidiary Guaranty” means a Guarantee by a Subsidiary Guarantor of the Company’s obligations
with respect to the Securities.

 

30

 

“Temporary Cash Investments” means any of the following:

(1) any investment in direct obligations of the United States of America or any agency
thereof or obligations guaranteed by the United States of America or any agency thereof;

(2) investments in time deposit accounts, certificates of deposit and money market
deposits maturing within 365 days of the date of acquisition thereof issued by a bank or
trust company which is organized under the laws of the United States of America, any State
thereof or any foreign country recognized by the United States of America, and which bank or
trust company has capital, surplus and undivided profits aggregating in excess of $50.0
million (or the foreign currency equivalent thereof) and has outstanding debt which is rated
“A” (or such similar equivalent rating) or higher by at least one nationally recognized
statistical rating organization (as defined in Rule 436 under the Securities Act) or any
money-market fund sponsored by a registered broker dealer or mutual fund distributor;

(3) repurchase obligations with a term of not more than 30 days for underlying
securities of the types described in clause (1) above entered into with a bank meeting the
qualifications described in clause (2) above;

(4) investments in commercial paper, maturing not more than 365 days after the date of
acquisition, issued by a corporation (other than an Affiliate of the Company) organized and
in existence under the laws of the United States of America or any foreign country
recognized by the United States of America with a rating at the time as of which any
investment therein is made of “P-l” (or higher) according to Moody’s Investors Service, Inc.
or “A-l” (or higher) according to Standard & Poor’s Ratings Group;

(5) investments in securities with maturities of one year or less from the date of
acquisition issued or fully guaranteed by any state, commonwealth or territory of the United
States of America, or by any political subdivision or taxing authority thereof, and rated at
least “A” by Standard & Poor’s Ratings Group or “A” by Moody’s Investors Service, Inc.; and

(6) money market funds at least 95% of the assets of which constitute Temporary Cash
Investments of the kind described in clauses (1) through (5) of this definition.

“TIA” means the Trust Indenture Act of 1939, as amended, (15 U.S.C. Sections 77aaa-77bbbb) as
in effect on the date of this Indenture, except as provided in Section 9.03.

“Transactions” means, collectively, the Merger, the Equity Tender Offer, the Note Tender
Offer, the Equity Financing, the Bank Facilities and the Offering.

“Trust Officer” means any officer of the Trustee having direct responsibility for the
administration of this Indenture and also means, with respect to a particular corporate trust
matter, any other officer to whom such matter is referred because of their knowledge of and
familiarity with the particular subject.

 

31

 

“Trustee” means the party named as such in this Indenture until a successor replaces it and,
thereafter, means the successor.

“Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to
time.

“Unrestricted Subsidiary” means:

(1) any Subsidiary of an Unrestricted Subsidiary; and

(2) any Subsidiary of the Company which is designated after the Issue Date as an
Unrestricted Subsidiary by a board resolution of the Board of Directors of the Company;
provided that a Subsidiary may be so designated as an Unrestricted Subsidiary only if:

(A) such designation is in compliance with Section 4.04;

(B) immediately after giving effect to such designation, the Company could have
incurred at least $1.00 of additional Indebtedness (other than Permitted
Indebtedness) pursuant to Section 4.03;

(C) no Default or Event of Default has occurred and is continuing or results
therefrom; and

(D) neither the Company nor any Restricted Subsidiary will at any time

(i) provide a guarantee of, or similar credit support to, any
Indebtedness of such Subsidiary (including any undertaking, agreement or
instrument evidencing such Indebtedness),

(ii) be directly or indirectly liable for any Indebtedness of such
Subsidiary or

(iii) be directly or indirectly liable for any other Indebtedness which
provides that the holder thereof may (upon notice, lapse of time or both)
declare a default thereon (or cause the payment thereof to be accelerated or
payable prior to its final scheduled maturity) upon the occurrence of a
default with respect to any other Indebtedness that is Indebtedness of such
Subsidiary (including any corresponding right to take enforcement action
against such Subsidiary),

except in the case of clause (i) or (ii) to the extent

(i) that the Company or such Restricted Subsidiary could otherwise provide such a
guarantee or incur such Indebtedness (other than as Permitted Indebtedness) pursuant to
Section 4.03 and

(ii) the provision of such guarantee and the incurrence of such Indebtedness otherwise
would be permitted under Section 4.04.

 

32

 

The Trustee will be provided with an Officers’ Certificate stating that such designation is
permitted and setting forth the basis upon which the calculations required by this definition were
computed, together with a copy of the board resolution adopted by the Board of Directors of the
Company making such designation.

The Board of Directors of the Company may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided, however, that immediately after giving effect to such designation
(A) the Company could Incur $1.00 of additional Indebtedness under Section 4.03(a) and (B) no
Default shall have occurred and be continuing. Any such designation by the Board of Directors of
the Company shall be evidenced to the Trustee by promptly filing with the Trustee a copy of the
resolution of the Board of Directors of the Company giving effect to such designation and an
Officers’ Certificate certifying that such designation complied with the foregoing provisions.

“U.S. Dollar Equivalent” means with respect to any monetary amount in a currency other than
U.S. dollars, at any time for determination thereof, the amount of U.S. dollars obtained by
converting such foreign currency involved in such computation into U.S. dollars at the spot rate
for the purchase of U.S. dollars with the applicable foreign currency as published in The Wall
Street Journal in the “Exchange Rates” column under the heading “Currency Trading” on the date two
Business Days prior to such determination.

Except as described in Section 4.03, whenever it is necessary to determine whether the Company
has complied with any covenant in this Indenture or a Default has occurred and an amount is
expressed in a currency other than U.S. dollars, such amount will be treated as the U.S. Dollar
Equivalent determined as of the date such amount is initially determined in such currency.

“U.S. Government Obligations” means direct obligations (or certificates representing an
ownership interest in such obligations) of the United States of America (including any agency or
instrumentality thereof) for the payment of which the full faith and credit of the United States of
America is pledged and which are not callable at the issuer’s option.

“Voting Stock” of a Person means all classes of Capital Stock or other interests (including
partnership interests) of such Person then outstanding and normally entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers or trustees thereof.

“Wholly Owned Subsidiary” means a Restricted Subsidiary all the Capital Stock of which (other
than directors’ qualifying shares and other legally required qualifying shares) is owned by the
Company or one or more Wholly Owned Subsidiaries.

 

33

 

SECTION 1.02. Other Definitions

	 	 	 	 	 
	 	 	Defined in	 
	Term	 	Section	 
	 
	 	 	 	 
	“Affiliate Transaction”
	 	 	4.07	 
	“Bankruptcy Law”
	 	 	6.01	 
	“Blockage Notice”
	 	 	10.03	 
	“Blocker Carveout Transfers”
	 	 	4.13	 
	“covenant defeasance option”
	 	 	8.01	(b)
	“Custodian”
	 	 	6.01	 
	“Event of Default”
	 	 	6.01	 
	“legal defeasance option”
	 	 	8.01	(b)
	“Legal Holiday”
	 	 	13.08	 
	“pay its Subsidiary Guaranty”
	 	 	12.03	 
	“pay the Securities”
	 	 	10.03	 
	“Payment Blockage Period”
	 	 	10.03	 
	“Payment Default”
	 	 	10.03, 12.03	 
	“Permitted Indebtedness”
	 	 	4.03	(b)
	“Registrar”
	 	 	2.03	 
	“Subsidiary Guaranty Blockage Notice”
	 	 	12.03	 
	“Subsidiary Guaranty Payment Blockage Period”
	 	 	12.03	 
	“Successor Company”
	 	 	5.01	(a)(1)

SECTION 1.03. TIA Provisions. This Indenture is subject to the mandatory provisions of the
TIA which are incorporated by reference in and made a part of this Indenture. The following TIA
terms have the following meanings:

“Commission” means the SEC;

“indenture securities” means the Securities;

“indenture security holder” means a Securityholder;

“indenture to be qualified” means this Indenture;

“indenture trustee” or “institutional trustee” means the Trustee; and

“obligor” on this Indenture securities means the Company and any other obligor on this
Indenture securities.

All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA
reference to another statute or defined by SEC rule have the meanings assigned to them by such
definitions.

 

34

 

SECTION 1.04. Rules of Construction. Unless the context otherwise requires:

(1) a term has the meaning assigned to it;

(2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

(3) “or” is not exclusive;

(4) “including” means including without limitation;

(5) words in the singular include the plural and words in the plural include the
singular;

(6) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured
Indebtedness merely by virtue of its nature as unsecured Indebtedness;

(7) the principal amount of any noninterest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the
issuer dated such date prepared in accordance with GAAP;

(8) the principal amount of any Preferred Stock shall be (i) the maximum liquidation
value of such Preferred Stock or (ii) the maximum mandatory redemption or mandatory
repurchase price with respect to such Preferred Stock, whichever is greater;

(9) all references to the date the Securities were originally issued shall refer to the
Issue Date; and

(10) any reference to an agreement or other document “as amended” shall include
supplements, waivers and other modifications.

ARTICLE 2

The Securities

SECTION 2.01. Form and Dating. Provisions relating to the Securities are set forth in the
Rule 144A/Regulation S Appendix attached hereto (the “Appendix”) which is hereby incorporated in
and expressly made part of this Indenture. The Securities and the Trustee’s certificate of
authentication shall be substantially in the form of Exhibit 1 to the Appendix which is hereby
incorporated in and expressly made a part of this Indenture. The Securities may have notations,
legends or endorsements required by law, stock exchange rule, agreements to which the Company is
subject, if any, or usage (provided that any such notation, legend or endorsement is in a form
acceptable to the Company). Each Security shall be dated the date of its authentication. The
terms of the Securities set forth in the Appendix and Exhibit A are part of the terms of this
Indenture.

SECTION 2.02. Execution and Authentication. Two Officers shall sign the Securities for the
Company by manual or facsimile signature.

If an Officer whose signature is on a Security no longer holds that office at the time the
Trustee authenticates the Security, the Security shall be valid nevertheless.

 

35

 

A Security shall not be valid until an authorized signatory of the Trustee manually signs the
certificate of authentication on the Security. The signature shall be conclusive evidence that the
Security has been duly and validly authenticated and issued under this Indenture.

The Trustee may appoint an authenticating agent reasonably acceptable to the Company to
authenticate the Securities. Unless limited by the terms of such appointment, an authenticating
agent may authenticate Securities whenever the Trustee may do so. Upon receipt of a Company Order,
the Trustee or authenticating agent shall authenticate the Securities for original issue up to the
aggregate principal amount stated in the Securities. Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An authenticating agent has
the same rights as any Registrar, Paying Agent or agent for service of notices and demands.

SECTION 2.03. Registrar and Paying Agent. The Company shall maintain an office or agency
where Securities may be presented for registration of transfer or for exchange (the “Registrar”)
and an office or agency where Securities may be presented for payment (the “Paying Agent”). The
Registrar shall keep a register of the Securities and of their transfer and exchange. The Company
may have one or more co-registrars and one or more additional paying agents. The term “Paying
Agent” includes any additional paying agent.

The Company shall enter into an appropriate agency agreement with any Registrar, Paying Agent
or co-registrar not a party to this Indenture, which shall incorporate the terms of the TIA. The
agreement shall implement the provisions of this Indenture that relate to such agent. The Company
shall notify the Trustee of the name and address of any such agent. If the Company fails to
maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to
appropriate compensation therefor pursuant to Section 7.07. The Company or any Wholly Owned
Subsidiary incorporated or organized within The United States of America may act as Paying Agent,
Registrar, co-registrar or transfer agent.

To the extent that any Global Securities are issued hereunder, the Company initially appoints
The Depository Trust Company (“DTC”) to act as Depositary with respect to any such Global
Securities.

The Company initially appoints the Trustee as Registrar and Paying Agent in connection with
the Securities.

SECTION 2.04. Paying Agent to Hold Money in Trust. Prior to each due date of the principal
and interest on any Security, the Company shall deposit with the Paying Agent a sum sufficient to
pay such principal or interest when so becoming due. The Company shall require each Paying Agent
(other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the
benefit of Securityholders or the Trustee all money held by the Paying Agent for the payment of
principal of or interest on the Securities and shall notify the Trustee of any default by the
Company in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall
segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company
at any time may require a Paying Agent to pay all money held by it to the Trustee and to account
for any funds disbursed by the Paying Agent. Upon complying with this Section, the Paying Agent
shall have no further liability for the money delivered to the
Trustee. Upon any bankruptcy, reorganization or similar proceeding with respect to the
Company, the Trustee shall serve as Paying Agent for the Securities.

 

36

 

SECTION 2.05. Securityholder Lists. The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and addresses of
Securityholders that complies with TIA Section 312(a). If the Trustee is not the Registrar, the
Company shall furnish to the Trustee, in writing at least five Business Days before each interest
payment date and at such other times as the Trustee may request in writing, a list in such form and
as of such date as the Trustee may reasonably require of the names and addresses of
Securityholders.

SECTION 2.06. Transfer and Exchange. (a) The Securities shall be issued in registered form
and shall be transferable only upon the surrender of a Security for registration of transfer. When
a Security is presented to the Registrar or a co-registrar with a request to register a transfer,
the Registrar shall promptly inform the Company of such request. Within 2 Business Days of such
notice, the Company shall provide written confirmation to the Registrar that the transfer is
permitted pursuant to the terms of clause (c) below. Upon receipt of such notice by the Registrar
and a Security duly executed by the Company, the Registrar shall register the transfer if the other
requirements of this Indenture and Section 8-401(1) of the Uniform Commercial Code are met. When
Securities are presented to the Registrar or a co-registrar with a request to exchange them for an
equal principal amount of Securities of other denominations, the Registrar shall make the exchange
as requested if the same requirements are met.

(b) The Company shall not be obligated to effect the transfer of any Security unless the
transferee of such Security has agreed to be bound by Section 6.1(a) of the Purchase Agreement.

(c) The Company shall not be obligated to effect the transfer of any Security to any
Competitor of the Company or any of its Subsidiaries unless an Event of Default of a type described
in clauses (1), (2), (7) or (8) of Section 6.01 exists. For the purposes of this Indenture a
“Competitor” of the Company or any of its Subsidiaries shall include (i) any Person which
manufactures products directly or indirectly competitive with the products manufactured by the
Company or any of its Subsidiaries or (ii) any Person which sells or otherwise distributes products
directly or indirectly competitive with the products manufactured by the Company or any of its
Subsidiaries or (iii) any Affiliate of any of the Persons described in the immediately preceding
clause (i) or (ii) (other than Affiliates that are investment funds), in each case as reasonably
determined by the Board of Directors of the Company.

SECTION 2.07. Replacement Securities. If a mutilated Security is surrendered to the Registrar
or if the Holder of a Security claims that the Security has been lost, destroyed or wrongfully
taken, the Company shall issue and the Trustee shall authenticate a replacement Security if the
requirements of Section 8-405 of the Uniform Commercial Code are met and the Holder satisfies any
other reasonable requirements of the Trustee. Such Holder shall furnish an indemnity bond
sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee, the
Paying Agent, the Registrar and any co-registrar from any loss which any of them may suffer if a
Security is replaced. The Company and the Trustee may charge the Holder for their expenses in
replacing a Security.

 

37

 

Every replacement Security is an additional obligation of the Company.

SECTION 2.08. Outstanding Securities. Securities outstanding at any time are all Securities
authenticated by the Trustee except for those canceled by it, those delivered to it for
cancellation and those described in this Section as not outstanding. A Security does not cease to
be outstanding because the Company or an Affiliate of the Company holds the Security.

If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the
Trustee and the Company receive proof satisfactory to them that the replaced Security is held by a
protected purchaser.

If the principal amount of and interest due on any Security is considered paid under Section
4.01 hereof, it ceases to be outstanding and interest on it ceases to accrue.

If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a
redemption date or maturity date money sufficient to pay all principal and interest payable on that
date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case
may be, and the Paying Agent is not prohibited from paying such money to the Securityholders on
that date pursuant to the terms of this Indenture, then on and after that date such Securities (or
portions thereof) cease to be outstanding and interest on them ceases to accrue.

SECTION 2.09. Temporary Securities. Until definitive Securities are ready for delivery, the
Company may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities
shall be substantially in the form of definitive Securities but may have variations that the
Company considers appropriate for temporary Securities. Without unreasonable delay, the Company
shall prepare and the Trustee shall authenticate definitive Securities and deliver them in exchange
for temporary Securities. After the preparation of definitive Securities, the temporary Securities
shall be exchangeable for such definitive Securities upon surrender of such temporary Securities at
any office or agency maintained by the Company for that purpose and such exchange shall be without
charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities, the
Company shall execute, and the Trustee shall authenticate and make available for delivery in
exchange therefor, one or more definitive Securities representing an equal principal amount of
Securities. Until so exchanged, the Holder of temporary Securities shall be entitled to the same
benefits under this Indenture as a Holder of definitive Securities.

SECTION 2.10. Cancellation. The Company at any time may deliver Securities to the Trustee for
cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities
surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else
shall cancel (subject to the record retention requirements of the Exchange Act) all Securities
surrendered for registration of transfer, exchange, payment or cancellation. The Trustee shall
dispose of such cancelled Securities in accordance with its customary procedures. The Company may
not issue new Securities to replace Securities it has redeemed, paid or delivered to the Trustee
for cancellation for any reason other than in connection with a transfer or exchange.

 

38

 

SECTION 2.11. Defaulted Interest. If the Company defaults in a payment of interest on the
Securities, the Company shall pay defaulted interest (plus interest on such defaulted interest to
the extent lawful) in any lawful manner. The Company may pay the defaulted interest to the persons
who are Securityholders on a subsequent special record date. The Company shall fix or cause to be
fixed any such special record date and payment date to the reasonable satisfaction of the Trustee
and shall promptly mail to each Securityholder a notice that states the special record date, the
payment date and the amount of defaulted interest to be paid.

SECTION 2.12. CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers
(if then generally in use) and, if so, the Trustee shall use “CUSIP” numbers in notices of
redemption as a convenience to Holders; provided, however, that any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Securities or
as contained in any notice of a redemption and that reliance may be placed only on the other
identification numbers printed on the Securities, and any such redemption shall not be affected by
any defect in or omission of such numbers. The Company shall promptly notify the Trustee in
writing of any change in the “CUSIP” numbers.

ARTICLE 3

Redemption

SECTION 3.01. Notices to Trustee. If the Company elects to redeem Securities pursuant to
paragraph 5 of the Securities, it shall notify the Trustee in writing of the redemption date, the
principal amount of Securities to be redeemed and the paragraph of the Securities pursuant to which
the redemption will occur.

Except as required under Section 3.07, the Company shall give each notice to the Trustee
provided for in this Section at least 45 days before the redemption date unless the Trustee
consents to a shorter period. Such notice shall be accompanied by an Officers’ Certificate from
the Company to the effect that such redemption will comply with the conditions herein.

SECTION 3.02. Selection of Securities To Be Redeemed. If fewer than all the Securities are to
be redeemed, the Trustee shall select the Securities to be redeemed pro rata or by lot or by a
method that complies with applicable legal and securities exchange requirements, if any, and that
the Trustee in its sole discretion shall deem to be fair and appropriate and in accordance with
methods generally used at the time of selection in similar circumstances. The Trustee shall make
the selection from outstanding Securities not previously called for redemption. The Trustee may
select for redemption portions of the principal of Securities that have denominations larger than
$1,000. Securities and portions of them the Trustee selects shall be in principal amounts of
$1,000 or a whole multiple of $1,000. Provisions of this Indenture that apply to Securities called
for redemption also apply to portions of Securities called for redemption. The Trustee shall
notify the Company promptly in writing of the Securities or portions of Securities to be redeemed.

 

39

 

SECTION 3.03. Notice of Redemption. At least 30 days but not more than 60 days before a date
for redemption of Securities, the Company shall mail a notice of redemption by first-class mail to
each Holder of Securities to be redeemed at such Holder’s registered address.

The notice shall identify the Securities to be redeemed (including CUSIP numbers, if
applicable) and shall state:

(1) the redemption date;

(2) the redemption price;

(3) the name and address of the Paying Agent;

(4) that Securities called for redemption must be surrendered to the Paying Agent to
collect the redemption price;

(5) if fewer than all the outstanding Securities are to be redeemed, the identification
and principal amounts of the particular Securities to be redeemed;

(6) that, unless the Company defaults in making such redemption payment or the Paying
Agent is prohibited from making such payment pursuant to the terms of this Indenture,
interest on Securities (or portion thereof) called for redemption ceases to accrue on and
after the redemption date; and

(7) that no representation is made as to the correctness or accuracy of the CUSIP
number, if any, listed in such notice or printed on the Securities.

At the Company’s written request, the Trustee shall give the notice of redemption in the
Company’s name and at the Company’s expense. In such event, the Company shall provide the Trustee
with the information required by this Section.

SECTION 3.04. Effect of Notice of Redemption . Once notice of redemption is mailed,
Securities called for redemption become due and payable on the redemption date and at the
redemption price stated in the notice. Upon surrender to the Paying Agent, such Securities shall
be paid at the redemption price stated in the notice, plus accrued interest to the redemption date
(subject to the right of Holders of record on the relevant record date to receive interest due on
the related interest payment date). Failure to give notice or any defect in the notice to any
Holder shall not affect the validity of the notice to any other Holder.

SECTION 3.05. Deposit of Redemption Price. Prior to the redemption date, the Company shall
deposit with the Trustee or Paying Agent (or, if the Company or a Subsidiary is the Paying Agent,
shall segregate and hold in trust) a sum sufficient to pay the redemption price of and accrued
interest on all Securities to be redeemed on the redemption date other than Securities or portions
of Securities called for redemption which have been delivered by the Company to the Trustee for
cancellation. The Trustee or the Paying Agent will promptly return to the Company any money
deposited with the Trustee or the Paying Agent by the Company in
excess of the amounts necessary to pay the redemption price of, and accrued interest, if any,
on all Securities to be redeemed.

 

40

 

SECTION 3.06. Securities Redeemed in Part. Upon surrender of a Security that is redeemed in
part (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument
of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder
thereof), the Company shall execute and the Trustee shall authenticate and deliver to the Holder of
that Security (at the Company’s expense) a new Security equal in principal amount to the unredeemed
portion of the principal amount of the Security surrendered.

ARTICLE 4

Covenants

SECTION 4.01. Payment of Securities. The Company shall promptly pay the principal of and
interest on the Securities on the dates and in the manner provided in the Securities and in this
Indenture. Principal and interest shall be considered paid on the date due if on such date the
Trustee or the Paying Agent holds in accordance with this Indenture money sufficient to pay all
principal and interest then due and the Trustee or the Paying Agent, as the case may be, is not
prohibited from paying such money to the Securityholders on that date pursuant to the terms of this
Indenture.

The Company shall pay interest on overdue principal at the rate specified therefor in the
Securities, and it shall pay interest on overdue installments of interest at the same rate to the
extent lawful.

SECTION 4.02. SEC Reports. Notwithstanding that the Company may not be subject to the
reporting requirements of Section 13 or 15(d) of the Exchange Act, the Company shall file with the
SEC (unless the SEC will not accept such a filing and commencing with the effectiveness of the
Exchange Offer or Shelf Registration Statement) and will in any event provide the Trustee and
Securityholders within 15 days after it files with the SEC with such annual reports and such
information, documents and other reports as are specified in Sections 13 and 15(d) of the Exchange
Act and applicable to a U.S. corporation subject to such Sections, such information, documents and
other reports to be so filed and provided at the times specified for the filing of such
information, documents and reports under such Sections; provided, however, that the Company shall
not be so obligated to file such reports with the SEC, if the SEC does not permit such filing, in
which event the Company will make available such information to the Trustee and Securityholders
within 15 days after the time the Company would be required to file such information with the SEC
if it were subject to Section 13 or 15(d) of the Exchange Act. In addition, the Company shall
furnish to the Holder of the Securities and to prospective investors, upon the requests of such
Holders, any information required to be delivered pursuant to Rule 144A(d)(4) under the Securities
Act so long as the Securities are not freely transferable under the Securities Act. The Company
also shall comply with the other provisions of TIA Section 314(a).

Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute constructive
notice of any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its covenants hereunder (as to which the
Trustee is entitled to rely exclusively on an Officers’ Certificate).

 

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SECTION 4.03. Limitations on Indebtedness. (a) Subject to Section 4.13, the Company shall
not, and shall not permit any Restricted Subsidiary to, Incur, directly or indirectly, any
Indebtedness; provided, however, that subject to subsections (c), (d) and (e) below, the Company
and its Restricted Subsidiaries shall be entitled to Incur Indebtedness if, on the date of such
Incurrence and after giving effect thereto on a pro forma basis, no Default has occurred and is
continuing and the Consolidated Coverage Ratio exceeds 2 to 1.

(b) Notwithstanding the foregoing subsection (a) but subject to subsections (c), (d) and (e)
below, the Company and the Restricted Subsidiaries shall be entitled to Incur any or all of the
following Indebtedness (“Permitted Indebtedness”):

(1) Indebtedness Incurred by the Company and its Restricted Subsidiaries pursuant to
Credit Facilities; provided, however, that, immediately after giving effect to any such
Incurrence, the aggregate principal amount of all Indebtedness Incurred under this clause
(1) and then outstanding does not exceed the greater of (A) $215.0 million and (B) the sum
of (x) 65% of the book value of the inventory of the Company and its Restricted Subsidiaries
and (y) 85% of the book value of the accounts receivable of the Company and its Restricted
Subsidiaries;

(2) Indebtedness owed to and held by the Company or a Restricted Subsidiary; provided,
however, that (A) any subsequent issuance or transfer of any Capital Stock which results in
any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any subsequent
transfer of such Indebtedness (other than to the Company or a Restricted Subsidiary or to
the holder of a Lien permitted under this Indenture) shall be deemed, in each case, to
constitute the Incurrence of such Indebtedness by the obligor thereon and (B) if the Company
is the obligor on such Indebtedness and the holders of Indebtedness under the Credit
Facilities do not have a security interest therein or the obligee is a Restricted Subsidiary
that is not a Guarantor, such Indebtedness is expressly subordinated to the prior payment in
full in cash of all obligations with respect to the Securities;

(3) the Securities and related Guarantees;

(4) Indebtedness outstanding on the Issue Date (other than Indebtedness described in
clause (1) or (3) of this Section 4.03(b));

(5) Refinancing Indebtedness;

(6) Hedging Obligations of the Company or any Restricted Subsidiary not for the purpose
of speculation;

(7) obligations in respect of letters of credit, performance, bid, surety, appeal and
other similar bonds and completion guarantees, payment obligations in connection
with self-insurance or similar requirements provided by the Company or any Restricted
Subsidiary in the ordinary course of business;

 

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(8) Indebtedness arising from the honoring by a bank or other financial institution of
a check, draft or similar instrument drawn against insufficient funds in the ordinary course
of business; provided, however, that such Indebtedness is extinguished within five Business
Days of its Incurrence;

(9) Indebtedness (including Capital Lease Obligations) Incurred by the Company or any
of its Restricted Subsidiaries to finance the purchase, lease, construction or improvement
of property (real or personal) or equipment (whether through the direct purchase of assets
or the Capital Stock of any Person owning such assets) within 180 days after such purchase,
lease, construction or improvement in an aggregate principal amount which, when added
together with the amount of Indebtedness Incurred pursuant to this clause (9) and then
outstanding, does not exceed $5.0 million (including any Refinancing Indebtedness with
respect thereto);

(10) Indebtedness Incurred and outstanding on or prior to the date on which such Person
was acquired by the Company or any Restricted Subsidiary or assumed by the Company or a
Restricted Subsidiary at the time of acquisition of all or any portion of the assets (or any
business or product line of another Person) (other than Indebtedness Incurred in connection
with or to provide all or any portion of the funds or credit support utilized to consummate,
the transaction or series of related transactions pursuant to which such Subsidiary became a
Restricted Subsidiary or was acquired by the Company); provided, however, at the time of
such acquisition and after giving effect thereto, the aggregate principal amount of all
Indebtedness Incurred pursuant to this clause (10) and then outstanding does not exceed $5.0
million;

(11) any Guarantee (including the Subsidiary Guaranties) by the Company or a Restricted
Subsidiary of Indebtedness or other obligations of the Company or any of its Restricted
Subsidiaries so long as the Incurrence of such Indebtedness by the Company or such
Restricted Subsidiary is permitted under the terms of this Indenture;

(12) Indebtedness arising from agreements of the Company or a Restricted Subsidiary of
the Company providing for indemnification, adjustment of purchase price, earn out or other
similar obligations, in each case, Incurred or assumed in connection with the disposition or
acquisition of any business, assets or a Restricted Subsidiary of the Company;

(13) Indebtedness of the Company or of any of its Restricted Subsidiaries in an
aggregate principal amount which, when taken together with all other Indebtedness of the
Company and its Restricted Subsidiaries outstanding on the date of such Incurrence (other
than Indebtedness permitted by clauses (1) through (12) above or paragraph (a)), does not
exceed $12.5 million; and

(14) Indebtedness of the Company or any of its Restricted Subsidiaries Incurred
pursuant to the Note Refinancing, provided that the Note Refinancing
Conditions are satisfied on the date of any such Incurrence and, to the extent
applicable, subject to the limitations in Section 4.03(b)(1).

 

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(c) Notwithstanding the foregoing, neither the Company nor any Subsidiary Guarantor shall
Incur any Indebtedness pursuant to Section 4.03(b) (other than (b)(1) above) if the proceeds
thereof are used, directly or indirectly, to Refinance any Subordinated Obligations of the Company
or any Subsidiary Guarantor unless such Indebtedness shall be subordinated to the Securities or the
applicable Subsidiary Guaranty to at least the same extent as such Subordinated Obligations.

(d) Notwithstanding Sections 4.03(a) and 4.03(b) above, neither the Company nor any Subsidiary
Guarantor shall Incur (1) any Indebtedness if such Indebtedness is subordinate in right of payment
to any Senior Indebtedness of the Company or such Subsidiary Guarantor, as applicable, unless such
Indebtedness is Senior Subordinated Indebtedness or is expressly subordinated in right of payment
to Senior Subordinated Indebtedness of the Company or such Subsidiary Guarantor, as applicable, or
(2) any Secured Indebtedness (for borrowed money including Capital Lease Obligations) that is not
Senior Indebtedness of such Person (other than Indebtedness solely between or among the Company and
a Subsidiary Guarantor or between or among the Subsidiary Guarantors) unless contemporaneously
therewith such Person makes effective provision to secure the Securities or the relevant Subsidiary
Guaranty, as applicable, equally and ratably with or senior to such Secured Indebtedness for so
long as such Secured Indebtedness is secured by a Lien; provided, however, that nothing in this
Indenture shall limit Liens to secure Indebtedness (including Liens securing Indebtedness that is
not Senior Indebtedness) Incurred pursuant to any Note Refinancing so long as the requirements of
clause (e) below are satisfied.

(e) Notwithstanding Sections 4.03(a) and 4.03(b) above, the Company shall not, and shall not
permit any Restricted Subsidiary to, Incur (1) any AMI Exchange Notes unless the Company shall have
taken such steps as may be necessary so that the Securities shall be Pari Passu with such AMI
Exchange Notes, (2) any AMH Exchange Notes unless the Company shall have taken such steps as may be
necessary so that the Securities shall be Senior to such AMH Exchange Notes, (3) any Indebtedness
under Section 4.03(a) or 4.03(b)(13), unless the Company shall have taken such steps as may be
necessary so that the Securities shall be Senior to such Indebtedness, or (4) any Indebtedness
permitted by Section 4.03(a) or 4.03(b) (other than Indebtedness permitted by Section 4.03(b)(1),
Section 4.03(b)(4) (only to the extent such Indebtedness constitutes Senior Indebtedness), Section
4.03(b)(5) through Section 4.03(b)(11) (in the case of Section 4.03(b)(11), only to the extent the
guaranteed Indebtedness constitutes Senior Indebtedness) and Section 4.03(b)(12)), if the
Securities would be Junior to such Indebtedness; provided that if the Securities become Secured
Indebtedness, the Securities shall be secured by all collateral securing Indebtedness under the
Credit Facilities Incurred pursuant to Section 4.03(b)(1) by a Lien that is second in priority to
the Lien securing such Indebtedness and subject to no other prior Liens (other than Liens permitted
under such Credit Facilities to be prior to the Liens securing such Indebtedness) and such Credit
Facilities shall not contain any “last out” tranche arrangements. It is understood that consent of
the lenders under the Credit Agreement would be required for the Securities to become Secured
Indebtedness and that such lenders may condition such consent on, among other things, the terms and
conditions of such security arrangements, including with respect to an intercreditor agreement,
being in form and substance satisfactory to the lenders or agent, as applicable, under the Credit Agreement (but
for the avoidance of doubt any failure to obtain such consent shall not excuse any breach under
this Section 4.03(e) that would result if the Company permits any such other Indebtedness referred
to above in this Section 4.03(e) to become Secured Indebtedness without causing the Securities to
become Secured Indebtedness in accordance with, and to the extent required by, the provisions of
this Section 4.03(e)). At the request of the Company, the Trustee shall enter into such
intercreditor agreements and other documents on behalf of the Holders as may be requested by the
Company to give effect to the foregoing provisions, provided the Trustee receives, and upon which
such Trustee shall be entitled to conclusively rely, an Officers’ Certificate and an Opinion of
Counsel to the effect that all conditions precedent to the obligation to enter into such documents
hereunder have been satisfied.

 

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(f) For purposes of determining compliance with this covenant, (1) in the event that an item
of Indebtedness meets the criteria of more than one of the types of Indebtedness described above,
the Company, in its sole discretion, will classify such item of Indebtedness at the time of
Incurrence and only be required to include the amount and type of such Indebtedness in one of the
above clauses and (2) the Company will be entitled to divide and classify an item of Indebtedness
in more than one of the types of Indebtedness described above and (3) the Company will be entitled
from time to time to reclassify any Indebtedness Incurred pursuant to any clause in paragraph (b)
above such that it will be deemed as having been Incurred under another clause in paragraph (b).
Accrual of interest, accretion or amortization of original issue discount, the payment of interest
on any Indebtedness in the form of additional Indebtedness with the same terms, the payment of
dividends on Disqualified Stock in the form of additional shares of the same class of Disqualified
Stock and change in the amount outstanding due solely to the result of fluctuations in the exchange
rates of currencies will not be deemed to be an incurrence of Indebtedness or an issuance of
Disqualified Stock for purposes of this Section 4.03; provided, however, that all outstanding
Indebtedness incurred as of the date hereof under the Credit Facilities shall be deemed to have
been incurred pursuant to Section 4.03(b)(1) above.

(g) For purposes of determining compliance with any U.S. dollar restriction on the Incurrence
of Indebtedness where the Indebtedness Incurred is denominated in a different currency, the amount
of such Indebtedness shall be the U.S. Dollar Equivalent determined on the date of the Incurrence
of such Indebtedness, provided, however, that if any such Indebtedness denominated in a different
currency is subject to a Currency Agreement with respect to U.S. dollars covering all principal,
premium, if any, and interest payable on such Indebtedness, the amount of such Indebtedness
expressed in U.S. dollars shall be as provided in such Currency Agreement. The principal amount of
any Refinancing Indebtedness Incurred in the same currency as the Indebtedness being Refinanced
shall be the U.S. Dollar Equivalent of the Indebtedness Refinanced, except to the extent that
(1) such U.S. Dollar Equivalent was determined based on a Currency Agreement, in which case the
Refinancing Indebtedness shall be determined in accordance with the preceding sentence, and (2) the
principal amount of the Refinancing Indebtedness exceeds the principal amount of the Indebtedness
being Refinanced, in which case the U.S. Dollar Equivalent of such excess shall be determined on
the date such Refinancing Indebtedness is Incurred.

(h) Notwithstanding anything herein to the contrary, any Indebtedness of the Company or any of
its Restricted Subsidiaries directly or indirectly (including through participations) issued to or
acquired by an Affiliate of the Company, shall be Affiliate Subordinated Indebtedness.

 

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SECTION 4.04. Limitation on Restricted Payments(a) . (a) Subject to Section 4.13, the Company
shall not, and shall not permit any Restricted Subsidiary, directly or indirectly, to, make a
Restricted Payment if, at the time the Company or such Restricted Subsidiary makes such Restricted
Payment:

(1) a Default shall have occurred and be continuing (or would result therefrom);

(2) the Company is not entitled to Incur an additional $1.00 of Indebtedness under
Section 4.03(a); or

(3) the aggregate amount of such Restricted Payment and all other Restricted Payments
since April 23, 2002 (including any Restricted Payments contemplated by Section 4.13) (the
amount expended for such purpose if other than in cash, having the fair market value of such
property as determined in good faith by the Company) would exceed the sum of (without
duplication):

(A) 50% of the Consolidated Net Income accrued during the period (treated as
one accounting period) from July 1, 2002 to the end of the most recent fiscal
quarter for which internal financial statements are available on or prior to the
date of such Restricted Payment (or, in case such Consolidated Net Income shall be a
deficit, minus 100% of such deficit); plus

(B) 100% of the aggregate Net Cash Proceeds received by the Company from the
issuance or sale of its Capital Stock (other than Disqualified Stock) subsequent to
April 23, 2002 (other than an issuance or sale to a Subsidiary of the Company) and
100% of any cash capital contribution received by the Company from its shareholders
subsequent to April 23, 2002; plus

(C) the amount by which Indebtedness of the Company is reduced on the Company’s
balance sheet upon the conversion or exchange (other than by a Subsidiary of the
Company) subsequent to April 23, 2002 of any Indebtedness of the Company for Capital
Stock (other than Disqualified Stock) of the Company (less the amount of any cash,
or the fair value of any other property, distributed by the Company upon such
conversion or exchange); plus

(D) an amount equal to the sum of (x) the net reduction in the Investments made
by the Company or any Restricted Subsidiary in any Person resulting from
repurchases, repayments or redemptions of such Investments by such Person, proceeds
realized on the sale of such Investment and proceeds representing the return of
capital, in each case received by the Company or any Restricted Subsidiary
subsequent to April 23, 2002, and (y) to the extent such Person is an Unrestricted
Subsidiary, the portion (proportionate to the Company’s
equity interest in such Subsidiary) of the fair market value of the net assets
of such Unrestricted Subsidiary is designated a Restricted Subsidiary; provided,
however, that the foregoing sum shall not exceed, in the case of any such Person,
the amount of Investments (excluding Permitted Investments) previously made (and
treated as a Restricted Payment) by the Company or any Restricted Subsidiary in such
Person.

 

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(b) The preceding provisions of Section 4.04(a) shall not prohibit:

(1) any Restricted Payment made out of the Net Cash Proceeds of the substantially
concurrent sale of, or made by exchange for, Capital Stock of the Company (other than
Disqualified Stock and other than Capital Stock issued or sold to a Subsidiary of the
Company or an employee stock ownership plan or to a trust established by the Company or any
of its Subsidiaries for the benefit of their employees to the extent that the purchase by
such plan or trust is financed by Indebtedness of such plan or trust to the Company or any
Restricted Subsidiary or Indebtedness Guaranteed by the Company or a Restricted Subsidiary)
or a substantially concurrent cash capital contribution received by the Company from its
shareholders; provided, however, that (A) such Restricted Payment shall be excluded in the
calculation of the amount of Restricted Payments and (B) the Net Cash Proceeds from such
sale or such cash capital contribution (to the extent so used for such Restricted Payment)
shall be excluded from the calculation of amounts under Section 4.04(a)(3)(B);

(2) any purchase, repurchase, redemption, defeasance or other acquisition or retirement
for value of Subordinated Obligations of the Company or any Subsidiary Guarantor made by
exchange for, or out of the proceeds of the substantially concurrent sale of, Indebtedness
which is permitted to be Incurred pursuant to Section 4.03; provided, however, that such
purchase, repurchase, redemption, defeasance or other acquisition or retirement for value
shall be excluded in the calculation of the amount of Restricted Payments;

(3) dividends paid within 60 days after the date of declaration thereof if at such date
of declaration such dividend would have complied with this Section 4.04; provided, however,
that such dividend shall be included in the calculation of the amount of Restricted
Payments;

(4) so long as no Default has occurred and is continuing, the repurchase or other
acquisition of, shares of, or options to purchase shares of, common stock or preferred stock
of any of the Holding Companies or the Company or any of its Subsidiaries by the Company or
any of its Subsidiaries (or payments paid to any of the Holding Companies to consummate such
repurchases or other acquisitions in accordance with the provisions of this clause (4)) from
employees, former employees, directors, consultants, former consultants or former directors
of the Company or any of its Subsidiaries upon the death, disability or termination of
employment of such employees, directors or consultants, pursuant to the terms of the
agreements (including employment and consulting agreement or amendments thereto) or plans
approved by the Board of Directors; provided, however, that the aggregate amount of such
repurchases and other
acquisitions shall not exceed the sum of (A) $2.5 million in any fiscal year and
(B) the cash proceeds of any “key man” life insurance policies that are used to make such
repurchases; provided, however, that amounts not used pursuant to this clause (4) in a year
may be carried forward for use in future years; provided, further, however, that such
repurchases and other acquisitions shall be included in the calculation of the amount of
Restricted Payments;

 

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(5) the Transactions; provided, however, that Restricted Payments used to effect the
Transactions will be excluded in the calculation of the amount of Restricted Payments;

(6) dividends, loans, advances or other distributions to any of the Holding Companies
to be used by it solely to pay its franchise taxes and other fees required to maintain its
corporate existence and to pay for general corporate and overhead expenses (including
salaries and other compensation of the employees, directors fees, indemnification
obligations, professional fees and expenses) Incurred by the Holding Companies in the
ordinary course of its business; provided, however, that such dividends shall not exceed
$750,000 in the aggregate in any calendar year; provided, further, however, that such
dividends shall be excluded in the calculation of the amount of Restricted Payments;

(7) payments to the Holding Companies in respect of Federal, state, foreign and local
taxes attributable to (or arising as a result of) the operations of the Company and its
Subsidiaries; provided, however, that the amount of such payments in any fiscal year do not
exceed the amount that the Company and its Subsidiaries would be required to pay in respect
of Federal, state, foreign and local taxes for such fiscal year were the Company subject to,
and to pay such taxes as a stand-alone taxpayer (whether or not all such amounts are
actually used by the Holding Companies for such purposes); provided, further, however, that
such payments shall be excluded in the calculation of the amount of Restricted Payments;

(8) repurchase of Capital Stock deemed to occur upon the exercise of stock options or
warrants if such Capital Stock represents a portion of the exercise price thereof and
repurchases of Capital Stock deemed to occur upon the withholding of a portion of the
Capital Stock granted or awarded to an employee to pay for the statutory minimum taxes
payable by such employee upon such grant or award; provided, however, that such amount shall
be excluded in the calculation of the amount of Restricted Payments;

(9) Restricted Payments not exceeding $7.5 million in the aggregate; provided, however,
that (A) at the time of such Restricted Payments, no Default shall have occurred and be
continuing (or result therefrom) and (B) such Restricted Payments shall be included in the
calculation of the amount of Restricted Payments;

(10) any Restricted Payments that are part of the Note Refinancing; provided, however,
that (a) the Note Refinancing Conditions shall have been met; (b) unless the AMI Exchange
Notes expressly provide otherwise, this clause (10) shall not permit Restricted Payments
that are part of the Note Refinancing and are made in cash in excess
of the amount of cash proceeds received by the Company and its Restricted Subsidiaries
from any incurrence of Indebtedness by the Company or any of its Restricted Subsidiaries or
any issuance of Capital Stock or capital contribution, in each case as part of the Note
Refinancing and received concurrently or within 180 days prior thereto, and (c) Restricted
Payments permitted by this clause (10) shall be excluded in the calculation of the amount of
Restricted Payments; or

 

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(11) dividends, loans, advances or other distributions for the payment of interest on
the Existing AMH Notes and any Refinancings thereof but only to the extent such dividends,
loans, advances or other distributions are permitted pursuant to the AMI Exchange Notes;
provided, however that unless the AMI Exchange Notes expressly provide otherwise, such
Restricted Payments shall be included in the calculation of the amount of Restricted
Payments.

(c) To the extent any Blocker Carveout Transfers shall be made subsequent to the Issue Date
that are Restricted Payments, such Restricted Payments (i) shall first be applied to reduce the
availability of Restricted Payments otherwise permitted under Section 4.04(b)(9) and (ii) to the
extent in excess of such availability and without duplication of clause (i), shall be included in
the calculation of the amount of Restricted Payments under Section 4.04(a).

SECTION 4.05. Limitation on Restrictions on Distributions from Restricted Subsidiaries. The
Company shall not, and shall not permit any Restricted Subsidiary to, create or otherwise cause or
permit to exist or become effective any consensual encumbrance or restriction on the ability of any
Restricted Subsidiary to (a) pay dividends or make any other distributions on its Capital Stock to
the Company or a Restricted Subsidiary or pay any Indebtedness owed to the Company, (b) make any
loans or advances to the Company or (c) transfer any of its property or assets to the Company,
except:

(i) any encumbrance or restriction pursuant to an agreement in effect at or entered
into on the Issue Date (including this Indenture, the agreements governing the Credit
Facilities and the indenture governing the Existing AMI Notes and the Guarantees thereof);

(ii) any encumbrance or restriction with respect to a Restricted Subsidiary pursuant to
an agreement relating to any Indebtedness Incurred by such Restricted Subsidiary on or prior
to the date on which such Restricted Subsidiary was acquired by the Company (other than
Indebtedness Incurred as consideration in, or to provide all or any portion of the funds or
credit support utilized to consummate, the transaction or series of related transactions
pursuant to which such Restricted Subsidiary became a Restricted Subsidiary or was acquired
by the Company) and outstanding on such date;

(iii) any encumbrance or restriction pursuant to any amendments, modifications,
restatements, renewals, increases, supplements, refundings, replacements or Refinancings of
the Indebtedness referred to in any of the foregoing clauses and restrictions contained in
Indebtedness incurred after the date hereof in accordance with the terms of this Indenture;
provided that such amendments, modifications, restatements, renewals, increases,
supplements, refundings, replacements or Refinancings are not
materially more restrictive with respect to such dividend and other payment
restrictions than those contained in the applicable instrument governing such Indebtedness
as in effect on the date of this Indenture; provided that, with respect to any agreement
governing such other Indebtedness, the provisions relating to such encumbrance or
restriction are no less favorable to the Company in any material respect as determined by
the Company in its reasonable and good faith judgment than the provisions contained in the
Credit Agreement as in effect on April 23, 2002;

 

49

 

(iv) restrictions on cash or other deposits or net worth imposed by customers under
contracts entered into in the ordinary course of business;

(v) any such encumbrance or restriction consisting of customary non-assignment
provisions in contracts or in leases governing leasehold interest and in intellectual
property contracts and licenses;

(vi) any restriction with respect to a Restricted Subsidiary imposed pursuant to an
agreement entered into for the sale or disposition of assets (including Capital Stock) of
such Restricted Subsidiary permitted by this Indenture pending the closing of such sale or
disposition;

(vii) any restriction arising under applicable law, regulation or order;

(viii) restrictions contained in security agreements or mortgages securing Indebtedness
of a Restricted Subsidiary to the extent such restrictions restrict the transfer of the
property subject to such security agreements or mortgages;

(ix) restrictions on the transfer of assets subject to any Lien permitted under this
Indenture imposed by the holder of such Lien; and

(x) restrictions contained in agreements relating to Indebtedness incurred in
connection with the Note Refinancing and any amendments, modifications, restatements,
renewals, increases, supplements, refundings, replacements or Refinancings of such
agreements; provided that such agreements, amendments, modifications, restatements,
renewals, increases, supplements, refundings, replacements or Refinancings are not
materially more restrictive with respect to such dividend and other payment restrictions
than those contained in this Indenture as determined by the Board of Directors of the
Company in its reasonable and good faith judgment and such determination is evidenced by a
resolution of the Board of Directors.

SECTION 4.06. Limitation on Sales of Assets and Subsidiary Stock. (a) Subject to Section
4.13, the Company shall not, and shall not permit any Restricted Subsidiary to, directly or
indirectly, consummate any Asset Disposition unless:

(1) The Company or such Restricted Subsidiary receives consideration at the time of
such Asset Disposition at least equal to the fair market value (including as to the value of
all non-cash consideration), as determined in good faith by the Company, or in the case of
an Asset Disposition in excess of $10 million, by the Board of Directors of the Company, of
the shares and assets subject to such Asset Disposition;

 

50

 

(2) at least 75% of the consideration thereof received by the Company or such
Restricted Subsidiary is in the form of cash or cash equivalents; and

(3) an amount equal to 100% of the Net Available Cash from such Asset Disposition is
applied by the Company (or such Restricted Subsidiary, as the case may be) pursuant to one
or more of the following:

(A) to the extent the Company elects (or is required by the terms of any
Indebtedness), to prepay, repay, redeem or purchase Senior Indebtedness of the
Company (including cash collateralization of letters of credit and similar credit
transactions constituting Senior Indebtedness) or Indebtedness (other than any
Disqualified Stock) of a Restricted Subsidiary (or, in the case of a revolving
credit facility, effect a permanent reduction in availability thereunder regardless
of the fact that no prepayment may be required) (in each case other than
Indebtedness owed to the Company or a Subsidiary of the Company) or repay
Indebtedness secured by such asset within one year from the later of the date of
such Asset Disposition or the receipt of such Net Available Cash;

(B) to the extent of the balance of such Net Available Cash after application
(if any) in accordance with clause (A), to the extent the Company elects, to acquire
Additional Assets within one year from the later of the date of such Asset
Disposition or the receipt of such Net Available Cash; and

(C) to the extent of the balance of such Net Available Cash after application
in accordance with clauses (A) and (B), to make an offer to the holders of the
Securities (and to holders of other Senior Subordinated Indebtedness of the Company
designated by the Company) to purchase Securities at 100% of their principal amount
thereof (and such other Senior Subordinated Indebtedness of the Company) pursuant to
and subject to the conditions of Section 4.06(b);

provided, however, that in connection with any prepayment, repayment or purchase of Indebtedness
pursuant to clause (A) or (C) above, the Company or such Restricted Subsidiary shall permanently
retire such Indebtedness and shall cause the related loan commitment (if any) to be permanently
reduced in an amount equal to the principal amount so prepaid, repaid or purchased.

Notwithstanding the foregoing provisions of this Section 4.06, the Company and its Restricted
Subsidiaries will not be required to apply any Net Available Cash in accordance with this
Section 4.06 (a) except to the extent that the aggregate Net Available Cash from all Asset
Dispositions which is not applied in accordance with this Section 4.06 (a) exceeds $10.0 million.
Pending application of Net Available Cash pursuant to this Section 4.06 (a), such Net Available
Cash may be invested in a manner not prohibited by this Indenture and/or applied to temporarily
reduce revolving credit indebtedness.

 

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For the purposes of this Section 4.06(a)(2), any of the following are deemed to be cash or
cash equivalents:

(1) the assumption of Indebtedness of the Company or any Restricted Subsidiary and the
release of the Company or such Restricted Subsidiary from all liability on such Indebtedness
in connection with such Asset Disposition;

(2) securities, notes or other obligations received by the Company or any Restricted
Subsidiary from the transferee that are converted by the Company or such Restricted
Subsidiary into cash within 90 days after the date of such Asset Disposition (to the extent
of the cash received); and

(3) any Additional Assets (so long as such Additional Assets are acquired for fair
market value in connection with the transaction giving rise to such Asset Disposition, as
determined in good faith by the Board of Directors of the Company or such Restricted
Subsidiary, as applicable).

(b) In the event of an Asset Disposition that requires the purchase of Securities (and other
Senior Subordinated Indebtedness of the Company) pursuant to Section 4.06 (a)(3)(C), the Company
shall purchase Securities tendered pursuant to an offer by the Company for the Securities (and such
other Senior Subordinated Indebtedness) at a purchase price of 100% of their principal amount (or,
in the event such other Senior Subordinated Indebtedness of the Company was issued with significant
original issue discount, 100% of the accreted value thereof) without premium, plus accrued but
unpaid interest (or, in respect of such other Senior Subordinated Indebtedness of the Company, such
lesser price, if any, as may be provided for by the terms of such Senior Subordinated Indebtedness)
in accordance with the procedures (including prorating in the event of oversubscription) set forth
in this Indenture. If the aggregate purchase price of the securities tendered exceeds the Net
Available Cash allotted to their purchase, the Company shall select the securities to be purchased
on a pro rata basis but in round denominations, which in the case of the Securities shall be
denominations of $1,000 principal amount or multiples thereof. The Company shall not be required
to make such an offer to purchase Securities (and other Senior Subordinated Indebtedness of the
Company) pursuant to this Section 4.06 if the Net Available Cash available therefor is less than
$10.0 million (which lesser amount shall be carried forward for purposes of determining whether
such an offer is required with respect to the Net Available Cash from any subsequent Asset
Disposition). Upon completion of each offer to purchase Securities pursuant to this Section 4.06,
the amount of Net Available Cash will be reset to zero.

(c) The Company will comply with the notice requirements of Section 3.03 and, to the extent
applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities
laws or regulations in connection with the repurchase of Securities pursuant to this Section 4.06.
To the extent that the provisions of any securities laws or regulations conflict with provisions of
this Section 4.06, the Company shall comply with the applicable securities laws and regulations and
shall not be deemed to have breached its obligations under this Section 4.06 by virtue of its
compliance with such securities laws or regulations.

 

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SECTION 4.07. Limitation on Affiliate Transactions. (a) Subject to Section 4.13, the Company
shall not, and shall not permit any Restricted Subsidiary to, enter into or permit to exist any
transaction (including the purchase, sale, lease or exchange of any property,
employee compensation arrangements or the rendering of any service) with, or for the benefit
of, any Affiliate of the Company (an “Affiliate Transaction”) unless:

(1) the terms of the Affiliate Transaction are not materially less favorable to the
Company or such Restricted Subsidiary than those that could be obtained at the time of the
Affiliate Transaction in arm’s-length dealings with a Person who is not an Affiliate;

(2) if such Affiliate Transaction involves an amount in excess of $2.0 million, a
majority of the Board of Directors of the Company have determined in good faith that the
criteria set forth in clause (1) are satisfied and have approved the relevant Affiliate
Transaction as evidenced by a resolution of the Board of Directors; and

(3) if such Affiliate Transaction involves an amount in excess of $10.0 million, the
Board of Directors of the Company shall also have received a written opinion from an
Independent Qualified Party to the effect that such Affiliate Transaction is fair, from a
financial standpoint, to the Company and its Restricted Subsidiaries or is not materially
less favorable to the Company and its Restricted Subsidiaries than could reasonably be
expected to be obtained at the time in an arm’s-length transaction with a Person who was not
an Affiliate.

(b) The provisions of Section 4.07 (a) shall not apply to:

(1) any Investment (including a Permitted Investment) or other Restricted Payment, in
each case permitted to be made pursuant to Section 4.04;

(2) any issuance of securities, or other payments, awards or grants in cash, securities
or otherwise pursuant to, or the funding of, employment arrangements, stock options and
stock ownership plans approved by the Board of Directors of the Company;

(3) loans or advances to employees or consultants in the ordinary course of business,
but in any event not to exceed $2.0 million in the aggregate outstanding at any one time;

(4) the payment of reasonable fees and compensation to, the provision of employee
benefit arrangements and indemnity for the benefit of, directors, officers, employees and
consultants of the Company and its Restricted Subsidiaries;

(5) any Affiliate Transaction between the Company and a Restricted Subsidiary or
between Restricted Subsidiaries;

(6) the issuance or sale of any Capital Stock (other than Disqualified Stock) of the
Company and loans or advances to employees to purchase Capital Stock;

(7) any agreement with the Company or any Restricted Subsidiary as in effect as of the
Issue Date or any amendment or replacement thereto or any transaction contemplated thereby
(including pursuant to any amendment or replacement thereto) so long as any such amendment
or replacement agreement is not more disadvantageous to
the Company or such Restricted Subsidiary in any material respect than the original
agreement as in effect on the Issue Date;

 

53

 

(8) the payment of management, consulting and advisory fees and related expenses made
pursuant to the Harvest Management Services Agreement and the Investcorp Management Services
Agreement, each as in effect on the Issue Date or any amendment or replacement thereto or
any transaction contemplated thereby (including pursuant to any amendment or replacement
thereto) so long as any such amendment or replacement agreement is not more disadvantageous
to the Company or such Restricted Subsidiary in any material respect than the original
agreement as in effect on the Issue Date and does not increase the amount of such annual
fees or transaction fees;

(9) any consulting or employment agreement entered into by the Company or any of its
Restricted Subsidiaries in the ordinary course of business consistent with past practice of
the Company or such Restricted Subsidiary, if any; and

(10) any tax sharing agreement or arrangement and payments pursuant thereto among the
Company and its Subsidiaries and any other Person (including any of the Holding Companies)
with which the Company or its Subsidiaries is required or permitted to file a consolidated
tax return or with which the Company or any of its Restricted Subsidiaries is or could be
part of a consolidated group for tax purposes in amounts not otherwise prohibited by this
Indenture.

SECTION 4.08. Limitation on the Sale or Issuance of Capital Stock of Restricted Subsidiaries.
Subject to Section 4.13, the Company

(1) shall not, and shall not permit any Restricted Subsidiary to, sell, lease, transfer
or otherwise dispose of any Capital Stock of a Restricted Subsidiary to any Person (other
than the Company or a Restricted Subsidiary), and

(2) shall not permit any Restricted Subsidiary, directly or indirectly, to issue or
sell or otherwise dispose of any of its Capital Stock (other than, if necessary, shares of
its Capital Stock constituting directors’ or other legally required qualifying shares) to
any Person (other than to the Company or a Restricted Subsidiary), unless

(A) immediately after giving effect to such issuance, sale or other
disposition, neither the Company nor any of its Subsidiaries own any Capital Stock
of such Restricted Subsidiary; or

(B) immediately after giving effect to such issuance, sale or other
disposition, such Restricted Subsidiary would no longer constitute a Restricted
Subsidiary and any Investment in such Person remaining after giving effect thereto
would have been permitted to be made under Section 4.04 if made on the date of such
issuance, sale or other disposition; or

(C) the sale or issuance of Capital Stock if the proceeds therefrom are applied
in accordance with Section 4.06.

 

54

 

SECTION 4.09. Change of Control. (a) Upon the occurrence of a Change of Control, each Holder
shall have the right to require that the Company repurchase such Holder’s Securities at a purchase
price in cash equal to 101% of the principal amount thereof on the date of purchase plus accrued
and unpaid interest, if any, to the date of purchase (subject to the right of holders of record on
the relevant record date to receive interest due on the relevant interest payment date), In the
event that at the time of such Change of Control the terms of the Senior Indebtedness of the
Company restrict or prohibit the repurchase of Securities pursuant to this Section, then prior to
the mailing of the notice to Holders provided for in Section 4.09(b) below but in any event within
30 days following any Change of Control, the Company shall (1) repay in full all such Senior
Indebtedness or offer to repay in full all such Indebtedness and repay the Indebtedness of each
lender who has accepted such offer or (ii) obtain the requisite consent under the agreements
governing such Senior Indebtedness to permit the repurchase of the Securities as provided for in
Section 4.09(b).

(b) Within 30 days following any Change of Control, unless the Company has exercised its
option to redeem all the Securities as described in paragraph 5(b) of the Securities, the Company
shall mail a notice to each Holder with a copy to the Trustee (the “Change of Control Offer”)
stating:

(1) that a Change of Control has occurred and that such Holder has the right to require
the Company to purchase such Holder’s Securities at a purchase price in cash equal to 101%
of the principal amount thereof on the date of purchase, plus accrued and unpaid interest,
if any, to the date of such purchase (subject to the right of Holders of record on the
relevant record date to receive interest on the relevant interest payment date);

(2) the circumstances and relevant facts regarding such Change of Control;

(3) the purchase date (which shall be no earlier than 30 days nor later than 60 days
from the date such notice is mailed); and

(4) the instructions, as determined by the Company, consistent with this Section 4.09,
that a Holder must follow in order to have its Securities purchased.

(c) Holders electing to have a Security purchased shall be required to surrender the Security,
with an appropriate form duly completed, to the Company at the address specified in the notice at
least three Business Days prior to the purchase date. Holders shall be entitled to withdraw their
election if the Trustee or the Company receives not later than one Business Day prior to the
purchase date, facsimile transmission or letter setting forth the name of the Holder, the principal
amount of the Security which was delivered for purchase by the Holder and a statement that such
Holder is withdrawing his election to have such Security purchased.

(d) On the purchase date, the Company will, to the extent lawful:

(1) accept for payment all Securities or portions thereof properly tendered pursuant to the
Change of Control Offer;

(2) deposit with the Paying Agent an amount equal to the purchase price plus accrued and
unpaid interest, if any, in respect of all Securities or portions of Securities properly tendered;
and

(3) deliver or cause to be delivered to the Trustee the Securities so accepted together with
an Officers’ Certificate stating the aggregate principal amount of Securities or portions of
Securities being purchased by the Company.

 

55

 

The Paying Agent will promptly mail to each Holder of Securities properly tendered the
purchase price plus accrued and unpaid interest, if any, for such Securities, and the Trustee will
promptly authenticate and mail (or cause to be transferred by book entry) to each Holder of a new
Security equal in principal amount to any unpurchased portion of the Securities surrendered, if
any. The Company will publicly announce the results of the Change of Control Offer on or as soon
as practicable after the purchase date.

(e) Notwithstanding the foregoing provisions of this Section, the Company shall not be
required to make a Change of Control Offer upon a Change of Control if a third party makes the
Change of Control Offer in the manner, at the times and otherwise in compliance with the
requirements set forth in this Section 4.09 applicable to a Change of Control Offer made by the
Company and purchases all Securities validly tendered and not withdrawn under such Change of
Control Offer.

(f) The Company shall comply, to the extent applicable, with the requirements of Section 14(e)
of the Exchange Act and any other securities laws or regulations in connection with the repurchase
of Securities pursuant to this Section. To the extent that the provisions of any securities laws
or regulations conflict with the provisions of this Section, the Company shall comply with the
applicable securities laws and regulations and shall not be deemed to have breached its obligations
under this Section by virtue of its compliance with such securities laws or regulations.

SECTION 4.10. Future Guarantors. The Company shall cause each domestic Restricted Subsidiary
that guarantees or incurs any Indebtedness under the Credit Facilities incurred pursuant to Section
4.03(b)(1) hereof to, at the same time, execute and deliver to the Trustee a Guaranty Agreement
pursuant to which such Restricted Subsidiary shall Guarantee payment of the Securities on the same
terms and conditions as those set forth in this Indenture.

SECTION 4.11. Compliance Certificate. The Company shall deliver to the Trustee, within 120
days after the end of each fiscal year of the Company, an Officers’ Certificate, one of the signers
of which shall be the principal executive officer, principal financial officer or principal
accounting officer of the Company, stating that in the course of the performance by the signers of
their duties as Officers of the Company they would normally have knowledge of any Default and
whether or not the signers know of any Default that occurred during such period, without regard to
periods of grace or notice requirements. If they do, the certificate shall describe the Default,
its status and what action the Company is taking or proposes to take with respect thereto. The
Company also shall comply with TIA Section 314(a)(4).

SECTION 4.12. Further Instruments and Acts. Upon request of the Trustee, the Company shall
execute and deliver such further instruments and do such further acts as may be reasonably
necessary or proper to carry out more effectively the purpose of this Indenture.

SECTION 4.13. Dividend Blocker Carveout. Notwithstanding anything in this Indenture to the
contrary, none of the provisions of this Indenture or the Purchase Agreement shall encumber or
restrict the ability of the Company and its Restricted Subsidiaries to (a) pay dividends or make
any other distributions on its capital stock to AMH or any AMH Restricted Subsidiary or pay any
Indebtedness owed to AMH or an AMH Restricted Subsidiary, (b) make any loans or advances to AMH or
(c) transfer any of its property or assets to AMH, except to the extent it would be permitted under
the terms of the Credit Agreement in effect on March 4, 2004, in each case assuming no defaults
under such Credit Agreement and that any other conditions thereunder to such payments,
distributions, loans, advances or transfers have been satisfied) (collectively, “Blocker Carveout
Transfers”).

 

56

 

ARTICLE 5

Successor Company

SECTION 5.01. When Company May Merge or Transfer Assets. The Company shall not consolidate
with or merge with or into, or, subject to Section 4.13, convey, transfer or lease, in one
transaction or a series of transactions, directly or indirectly, all or substantially all its
assets to, any Person, unless

(1) the resulting, surviving or transferee Person (the “Successor Company”) shall be a
Person organized and existing under the laws of the United States of America, any State
thereof or the District of Columbia and the Successor Company (if not the Company) shall
expressly assume, by an indenture supplemental hereto, executed and delivered to the
Trustee, in form reasonably satisfactory to the Trustee, all the obligations of the Company
under the Securities and this Indenture;

(2) immediately after giving pro forma effect to such transaction (and treating any
Indebtedness which becomes an obligation of the Successor Company or any Subsidiary as a
result of such transaction as having been Incurred by such Successor Company or such
Subsidiary at the time of such transaction), no Default shall have occurred and be
continuing

(3) immediately after giving pro forma effect to such transaction, the Successor
Company would be able to Incur an additional $1.00 of Indebtedness pursuant to
Section 4.03(a); and

(4) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or transfer and such
supplemental indenture (if any) comply with this Indenture;

provided, however, that clause (3) will not be applicable to (A) a Restricted Subsidiary
consolidating with, merging into or transferring all or part of its properties and assets to the
Company or another Restricted Subsidiary or (B) the Company merging with an Affiliate of the
Company solely for the purpose and with the sole effect of reincorporating the Company in another
jurisdiction.

The Successor Company shall be the successor to the predecessor company and shall succeed to,
and be substituted for, and may exercise every right and power of, the predecessor company under
this Indenture, and the predecessor company, except in the case of a lease, shall be released from
the obligation to pay the principal of and interest on the Securities.

 

57

 

The Company shall not permit any Subsidiary Guarantor to consolidate with or merge with or
into, or, subject to Section 4.13, convey, transfer or lease, in one transaction or a series of
transactions, all or substantially all of its assets to any Person (other than the Company or a
Subsidiary Guarantor) unless:

(1) except in the case of a Subsidiary Guarantor that has been disposed of in its
entirety to another Person (other than to the Company or a Subsidiary of the Company),
whether through a merger, consolidation or sale of Capital Stock or assets, if in connection
therewith the Company provides an Officers’ Certificate to the Trustee to the effect that
the Company shall comply with its obligations under Section 4.06 in respect of such
disposition, the resulting, surviving or transferee Person (if not such Subsidiary) shall be
a Person organized and existing under the laws of the jurisdiction under which such
Subsidiary was organized or under the laws of the United States of America, or any State
thereof or the District of Columbia, and such Person shall expressly assume, by a Guaranty
Agreement, in a form satisfactory to the Trustee, all the obligations of such Subsidiary
under its Subsidiary Guaranty;

(2) immediately after giving effect to such transaction or transactions on a pro forma
basis (and treating any Indebtedness which becomes an obligation of the resulting, surviving
or transferee Person as a result of such transaction as having been issued by such Person at
the time of such transaction), no Default shall have occurred and be continuing; and

(3) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger or transfer and such Guaranty
Agreement, if any, complies with this Indenture.

ARTICLE 6

Defaults and Remedies

SECTION 6.01. Events of Default. An “Event of Default” occurs if

(1) the Company defaults in any payment of interest on any Security when the same
becomes due and payable, whether or not such payment shall be prohibited by Article 10, and
such default continues for a period of 30 days;

(2) the Company defaults in the payment of the principal of any Security when the same
becomes due and payable at its Stated Maturity, upon redemption, upon required purchase,
upon declaration of acceleration or otherwise;

(3) the Company or any Subsidiary Guarantor fails to comply with Section 5.01;

(4) the Company or any Subsidiary Guarantor fails to comply with Section 4.03, 4.04,
4.05, 4.06 (other than a failure to purchase Securities), 4.07, 4.08 or 4.09 and such
failure continues for 30 days after the notice specified below;

 

58

 

(5) the Company or any Subsidiary Guarantor fails to comply with any of its other
agreements in the Securities or this Indenture and such failure continues for 60 days after
the notice specified below;

(6) (a) Indebtedness of the Company or any Significant Subsidiary is not paid within
any applicable grace period after final maturity or is accelerated by the holders thereof
because of a default and the total amount of such Indebtedness unpaid or accelerated exceeds
$10.0 million, or its foreign currency equivalent at the time or (b) a default exists, for
which all applicable grace periods have expired, in connection with Indebtedness of the
Company that ranks pari passu with the Securities or that represents Subordinated
Obligations of the Company, such default permits acceleration of such Indebtedness and the
amount of Indebtedness permitted to be accelerated exceeds $10.0 million, or its foreign
currency equivalent at the time;

(7) AMH II, AMH, the Company or any Significant Subsidiary pursuant to or within the
meaning of any Bankruptcy Law:

(A) commences a voluntary case;

(B) consents to the entry of an order for relief against it in an involuntary
case;

(C) consents to the appointment of a Custodian of it or for any substantial
part of its property; or

(D) makes a general assignment for the benefit of its creditors;

or takes any comparable action under any foreign laws relating to insolvency;

(8) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that

(A) is for relief against AMH II, AMH, the Company or any Significant
Subsidiary in an involuntary case;

(B) appoints a Custodian of the Company or any Significant Subsidiary or for
any substantial part of its property; or

(C) orders the winding up or liquidation of AMH II, AMH, the Company or any
Significant Subsidiary;
or any similar relief is granted under any foreign laws and the order or decree remains
unstayed and in effect for 60 days;

(9) any judgment or decree for the payment of money (other than judgments which are
covered by enforceable insurance policies issued by solvent carriers) in excess of
$10.0 million is entered against the Company or any Significant Subsidiary, and remains
undischarged, unpaid, unwaived or unstayed for a period of 60 consecutive days following the
entry of such judgment or decree becomes final and non-appealable; or

 

59

 

(10) any Subsidiary Guaranty of a Significant Subsidiary ceases to be in full force and
effect (other than in accordance with the terms of such Guaranty) for 30 days after notice
or any Subsidiary Guarantor that is a Significant Subsidiary denies or disaffirms its
obligations under its Guaranty.

The foregoing shall constitute Events of Default whatever the reason for any such Event of
Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant
to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body.

The term “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state
law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee,
liquidator, custodian or similar official under any Bankruptcy Law.

A Default under clauses (4), (5) and (9) is not an Event of Default until the Trustee or the
holders of at least 25% in principal amount of the outstanding Securities notify the Company and
the Trustee of the Default and the Company does not cure such Default within the time specified
after receipt of such notice. Such notice must specify the Default, demand that it be remedied and
state that such notice is a “Notice of Default”.

The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written
notice in the form of an Officers’ Certificate of any Event of Default under clause (6) (subject to
Section 6.05(b)) or (10) and any event which with the giving of notice or the lapse of time would
become an Event of Default under clause (4), (5), (9) or (10) its status and what action the
Company is taking or proposes to take with respect thereto.

SECTION 6.02. Acceleration. If an Event of Default (other than an Event of Default specified
in Section 6.01(7) or (8) with respect to the Company) occurs and is continuing, the Trustee by
notice to the Company, or the Holders of at least 25% in principal amount of the Securities by
notice to the Company and the Trustee, may declare the principal of and accrued but unpaid interest
on all the Securities to be due and payable. Upon such a declaration, such principal and interest
shall be due and payable immediately. If an Event of Default specified in Section 6.01(7) or (8)
with respect to the Company occurs, the principal of and interest on all the Securities shall ipso
facto become and be immediately due and payable without any declaration or other act on the part of
the Trustee or any Securityholders. The Holders of a majority in principal amount of the
Securities by notice to the Trustee may rescind an acceleration and its consequences if the
rescission would not conflict with any judgment or decree and if all existing Events of Default
have been cured or waived except nonpayment of
principal or interest that has become due solely because of acceleration. No such rescission
shall affect any subsequent Default or impair any right consequent thereto.

 

60

 

SECTION 6.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee
may pursue any available remedy to collect the payment of principal of or interest on the
Securities or to enforce the performance of any provision of the Securities or this Indenture.

The Trustee may maintain a proceeding even if it does not possess any of the Securities or
does not produce any of them in the proceeding. A delay or omission by the Trustee or any
Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair
the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy
is exclusive of any other remedy. All available remedies are cumulative.

SECTION 6.04. Waiver of Past Defaults. Subject to Section 6.02, the Holders of a majority in
aggregate principal amount of the outstanding Securities by notice to the Trustee may waive an
existing Default and its consequences except (i) a Default in the payment of the principal of or
interest on a Security, (ii) a Default arising from the failure to redeem or purchase any Security
when required pursuant to this Indenture or (iii) a Default in respect of a provision that under
Section 9.02 cannot be amended without the consent of each Securityholder affected. When a Default
is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default
or impair any consequent right.

SECTION 6.05. Control by Majority. (a) The Holders of a majority in principal amount of the
outstanding Securities may direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee or of exercising any trust or power conferred on the Trustee.
However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture
or, subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of
other Securityholders or would involve the Trustee in personal liability; provided, however, that
the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with
such direction. Prior to taking any action hereunder, the Trustee shall be entitled to
indemnification satisfactory to it in its sole discretion against all losses and expenses caused by
taking or not taking such action.

(b) Notwithstanding the foregoing, in the event of a declaration of acceleration in respect of
the Securities because an Event of Default specified in Section 6.01(6) above shall have occurred
and be continuing, such declaration of acceleration shall be automatically annulled if the
Indebtedness that is the subject of such Event of Default has been discharged or paid or such Event
of Default shall have been cured or waived by the holders of such Indebtedness and written notice
of such discharge, cure or waiver, as the case may be, shall have been given to the Trustee by the
Company or by the requisite holders of such Indebtedness or a trustee, fiduciary or agent for such
holders, within 30 days after such declaration of acceleration in respect of the Securities and
(i) no Person shall have commenced judicial proceedings to foreclose upon assets of the Company or
any of its Restricted Subsidiaries or shall have exercised any right under applicable law or
applicable security documents to take ownership of any of such assets in lieu of foreclosure and
(ii) no other Event of Default with
respect to the Securities shall have occurred which has not been cured or waived during such
30-day period.

 

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SECTION 6.06. Limitation on Suits. Except to enforce the right to receive payment of
principal, premium (if any) or interest when due, no Securityholder may pursue any remedy with
respect to this Indenture or the Securities unless

(1) the Holder gives to the Trustee written notice stating that an Event of Default is
continuing;

(2) the Holders of at least 25% in principal amount of the Securities make a written
request to the Trustee to pursue the remedy;

(3) such Holder or Holders offer to the Trustee security or indemnity satisfactory to
the Trustee against any loss, liability or expense;

(4) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer of security or indemnity; and

(5) the Holders of a majority in principal amount of the Securities do not give the
Trustee a direction inconsistent with the request during such 60-day period.

A Securityholder may not use this Indenture to prejudice the rights of another Securityholder
or to obtain a preference or priority over another Securityholder (it being understood that the
Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances
are unduly prejudicial to such Holders).

SECTION 6.07. Rights of Holders To Receive Payment. Notwithstanding any other provision of
this Indenture, the right of any Holder to receive payment of principal of and interest on the
Securities held by such Holder, on or after the respective due dates expressed in the Securities,
or to bring suit for the enforcement of any such payment on or after such respective dates, shall
not be impaired or affected without the consent of such Holder.

SECTION 6.08. Collection Suit by Trustee. If an Event of Default specified in Section 6.01(1)
or (2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of
an express trust against the Company for the whole amount then due and owing (together with
interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 7.07.

SECTION 6.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and
other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee and the Securityholders allowed in any judicial proceedings relative to the Company, its
creditors or its property and, unless prohibited by law or applicable regulations, may vote on
behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar
functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to
make payments to the Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable
compensation, expenses, disbursements and
advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee
under Section 7.07.

SECTION 6.10. Priorities. If the Trustee collects any money or property pursuant to this
Article 6, it shall pay out the money or property in the following order at the date or dates fixed
by the Trustee and, in the case of distribution of such money on account of principal, premium, if
any, or interest, if any, upon presentation of the Securities and the notation thereon of the
payment if only partially paid and upon surrender thereof if fully paid

 

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FIRST: to the Trustee for amounts due under Section 7.07;

SECOND: to holders of Senior Indebtedness of the Company and, if such money or
property has been collected from a Subsidiary Guarantor, to holders of Senior Indebtedness
of such Subsidiary Guarantor, in each case to the extent required by Articles 10 and 12;

THIRD: to Securityholders for amounts due and unpaid on the Securities for principal
and interest, ratably, without preference or priority of any kind, according to the amounts
due and payable on the Securities for principal and interest, respectively; and

FOURTH: to the Company.

The Trustee may fix a record date and payment date for any payment to Securityholders pursuant
to this Section. At least 15 days before such record date, the Company shall mail to each
Securityholder and the Trustee a notice that states the record date, the payment date and amount to
be paid.

SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy
under this Indenture or in any suit against the Trustee for any action taken or omitted by it as
Trustee, a court in its discretion may require the filing by any party litigant in the suit of an
undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable
costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit,
having due regard to the merits and good faith of the claims or defenses made by the party
litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 6.07 or a suit by Holders of more than 10% in principal amount of the Securities.

SECTION 6.12. Waiver of Stay or Extension Laws. The Company (to the extent it may lawfully do
so) shall not at any time insist upon, or plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter
in force, which may affect the covenants or the performance of this Indenture; and the Company (to
the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such
law, and shall not hinder, delay or impede the execution of any power herein granted to the
Trustee, but shall suffer and permit the execution of every such power as though no such law had
been enacted.

 

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ARTICLE 7

Trustee

SECTION 7.01. Duties of Trustee. (a) If an Event of Default has occurred and is continuing
(and is not cured), the Trustee shall exercise the rights and powers vested in it by this Indenture
and use the same degree of care and skill in their exercise as a prudent Person would exercise or
use under the circumstances in the conduct of such Person’s own affairs.

(b) Except during the continuance of an Event of Default,

(1) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However, in the case of any such certificates or opinions which by any provision
hereof are specifically required to be furnished to the Trustee, the Trustee shall examine
the certificates and opinions to determine whether or not they conform to the requirements
of this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein).

(c) The Trustee may not be relieved from liability for its own negligent action, its own
negligent failure to act or its own willful misconduct, except that

(1) this paragraph does not limit the effect of paragraph (b) of this Section;

(2) the Trustee shall not be liable for any error of judgment made in good faith by a
Trust Officer unless it is proved that the Trustee was negligent in ascertaining the
pertinent facts; and

(3) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.05.

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to
paragraphs (a), (b) and (c) of this Section.

(e) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Company.

(f) Money held in trust by the Trustee need not be segregated from other funds except to the
extent required by law.

(g) No provision of this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur financial liability in the performance of any of its duties
hereunder or in the exercise of any of its rights or powers, if it shall have reasonable
grounds to believe that repayment of such funds or adequate indemnity against such risk or
liability is not reasonably assured to it.

(h) Every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Section and to the
provisions of the TIA.

 

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SECTION 7.02. Rights of Trustee. (a) The Trustee may conclusively rely on any document
believed by it to be genuine and to have been signed or presented by the proper person. The
Trustee need not investigate any fact or matter stated in the document.

(b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take
in good faith in reliance on the Officers’ Certificate or Opinion of Counsel.

(c) The Trustee may act through agents and shall not be responsible for the misconduct or
negligence of any agent appointed with due care.

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith
which it believes to be authorized or within its rights or powers; provided, however, that the
Trustee’s conduct does not constitute willful misconduct or negligence.

(e) The Trustee may consult with counsel of its selection, and the advice or opinion of
counsel with respect to legal matters relating to this Indenture and the Securities shall be full
and complete authorization and protection from liability in respect to any action taken, omitted or
suffered by it hereunder in good faith and in accordance with the advice or opinion of such
counsel.

(f) The Trustee shall not be liable with respect to any action taken or omitted to be taken by
it in good faith in accordance with the direction of the Holders of the outstanding Securities.

(g) The Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine the books, records and premises of the Company,
personally or by agent or attorney at the sole cost of the Company and shall incur no liability or
additional liability of any kind by reason of such inquiry or investigation.

(h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Trust Officer of the Trustee has actual knowledge thereof or unless written notice of any event
which is in fact such a default is received by the Trustee at the corporate trust office of the
Trustee, and such notice references the Securities and this Indenture.

(i) The rights, privileges, protections, immunities and benefits given to the Trustee,
including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in
each of its capacities hereunder, and each agent, custodian and other Person employed to act
hereunder.

(j) The Trustee may request that the Company deliver an Officers’ Certificate setting forth
the names of individuals and/or titles of officers authorized at such time to take specified
actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person
authorized to sign an Officers’ Certificate, including any person specified as so authorized in any
such certificate previously delivered and not superseded.

 

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(k) The permissive rights of the Trustee to do things enumerated in this Indenture shall not
be construed as duties.

(l) In no event shall the Trustee be responsible or liable for special, indirect, punitive or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action.

(m) The Trustee shall not be required to give any bond or surety in respect of the performance
of its powers and duties hereunder.

SECTION 7.03. Individual Rights of Trustee. The Trustee in its individual or any other
capacity may become the owner or pledgee of Securities and, subject to TIA Sections 310(b) and 311,
may otherwise deal with the Company or its Affiliates with the same rights it would have if it were
not Trustee. However, in the event that the Trustee acquires any conflicting interest it must
eliminate such conflict within 90 days or apply to the SEC for permission to continue as trustee or
resign. Any Paying Agent, Registrar, co-registrar or co-paying agent may do the same with like
rights. However, the Trustee must comply with Sections 7.10 and 7.11.

SECTION 7.04. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Indenture or the Securities, it shall not be
accountable for the Company’s use of the proceeds from the Securities, and it shall not be
responsible for any statement of the Company in this Indenture or in any document issued in
connection with the sale of the Securities or in the Securities other than the Trustee’s
certificate of authentication.

SECTION 7.05. Notice of Defaults. If a Default occurs and is continuing with respect to the
Securities and if it is known to the Trustee, the Trustee shall mail to each Securityholder notice
of the Default within 90 days after it occurs. Except in the case of a Default in payment of
principal of or interest on any Security (including payments pursuant to the mandatory redemption
provisions of such Security, if any), the Trustee may withhold the notice if and so long as a
committee of its Trust Officers in good faith determines that withholding the notice is in the
interests of Securityholders.

SECTION 7.06. Reports by Trustee to Holders. As promptly as practicable after each May 15
beginning with the May 15 following the date of this Indenture, and in any
event prior to July 15 in each year, the Trustee shall mail to each Securityholder a brief
report dated as of May 15 that complies with TIA Section 313(a) if such report is required (but if
no event described in TIA Section 313(a) has occurred within the twelve months preceding the
reporting date, no report need be transmitted). The Trustee also shall comply with TIA
Section 313(b).

A copy of each report at the time of its mailing to Securityholders shall be filed with the
SEC and each stock exchange (if any) on which the Securities are listed. The Company agrees to
notify promptly the Trustee in writing whenever the Securities become listed on any stock exchange
and of any delisting thereof.

 

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SECTION 7.07. Compensation and Indemnity. The Company shall pay to the Trustee from time to
time such compensation as shall be agreed in writing between the Company and the Trustee for its
services, as such fees may be adjusted from time to time. The Trustee’s compensation shall not be
limited by any law on compensation of a trustee of an express trust. The Company shall reimburse
the Trustee upon request for all reasonable out-of-pocket expenses incurred or made by it,
including costs of collection, in connection with the exercise or performance of any of its powers
or duties hereunder, in addition to the compensation for its services. Such expenses shall include
the reasonable compensation and expenses, disbursements and advances of the Trustee’s agents,
counsel, accountants and experts. The Company shall indemnify the Trustee and its officers,
directors, employees, representatives and agents against any and all loss, liability, damage,
claim, obligation or expense (including attorneys’ fees and expenses) incurred by it in connection
with the administration of this trust and the performance of its duties hereunder. The Trustee
shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The
Company shall defend the claim and the Trustee may have one separate counsel (if the Trustee
determines in its reasonable judgment that the need for separate counsel exists (due to a conflict
of interest or otherwise)) and the Company shall pay the fees and expenses of such counsel. The
Company need not reimburse any expense or indemnify against any loss, liability or expense incurred
by the Trustee through the Trustee’s own willful misconduct or gross negligence. The Company need
not pay any settlement made without its consent, which consent shall not be unreasonably withheld.

To secure the Company’s payment obligations in this Section, the Trustee shall have a lien
prior to the Securities on all money or property held or collected by the Trustee other than money
or property held in trust to pay principal of and interest on particular Securities.

The Company’s obligations pursuant to this Section shall survive the resignation and removal
of the Trustee and the satisfaction and discharge of this Indenture. When the Trustee incurs
expenses after the occurrence of a Default specified in Section 6.01(7) or (8) with respect to the
Company, the expenses are intended to constitute expenses of administration under the Bankruptcy
Law.

SECTION 7.08. Replacement of Trustee. The Trustee may resign at any time by so notifying the
Company. The Holders of a majority in aggregate principal amount of the outstanding Securities may
remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company
shall remove the Trustee if

(1) the Trustee fails to comply with Section 7.10;

(2) the Trustee fails to comply with TIA Section 310(b) after written request therefor
by the Company;

(3) the Trustee is adjudged bankrupt or insolvent;

(4) a receiver or other public officer takes charge of the Trustee or its property; or

(5) the Trustee otherwise becomes incapable of acting.

 

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If the Trustee resigns, is removed by the Company or by the Holders of a majority in aggregate
principal amount of the outstanding Securities and such Holders do not reasonably promptly appoint
a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in
such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a
successor Trustee.

A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee, without further act, deed or conveyance, shall have
all the rights, powers and duties of the retiring Trustee under this Indenture. The successor
Trustee shall mail a notice of its succession to Securityholders. The retiring Trustee shall
promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien
provided for in Section 7.07. No successor Trustee shall accept its appointment unless at the time
of such acceptance such successor Trustee shall be qualified and eligible under the TIA.

If a successor Trustee does not take office within 60 days after the retiring Trustee resigns
or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount of the
outstanding Securities may petition, at the expense of the Company, any court of competent
jurisdiction for the appointment of a successor Trustee.

If the Trustee fails to comply with Section 7.10, any Securityholder may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s
obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

SECTION 7.09. Successor Trustee by Merger. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all its corporate trust business or assets to,
another corporation or banking association, the resulting, surviving or transferee corporation
without any further act shall be the successor Trustee.

In case at the time such successor or successors by merger, conversion or consolidation to the
Trustee shall succeed to the trusts created by this Indenture any of the Securities shall have been
authenticated but not delivered, any such successor to the Trustee may
adopt the certificate of authentication of any predecessor trustee, and deliver such
Securities so authenticated; and in case at that time any of the Securities shall not have been
authenticated, any successor to the Trustee may authenticate such Securities either in the name of
any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases
such certificates shall have the full force which it is anywhere in the Securities or in this
Indenture provided that the certificate of the Trustee shall have.

 

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SECTION 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy the
requirements of TIA Section 310(a). The Trustee shall have a combined capital and surplus of at
least $50,000,000 as set forth in its most recent published annual report of condition. The
Trustee shall comply with TIA Section 310(b); provided, however, that there shall be excluded from
the operation of TIA Section 310(b)(1) any indenture or indentures under which other securities or
certificates of interest or participation in other securities of the Company are outstanding if the
requirements for such exclusion set forth in TIA Section 310(b)(1) are met.

SECTION 7.11. Preferential Collection of Claims Against Company. The Trustee shall comply
with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A
Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent
indicated.

ARTICLE 8

Discharge of Indenture; Defeasance

SECTION 8.01. Discharge of Liability on Securities; Defeasance. (a) When (1) the Company
delivers to the Trustee all outstanding Securities (other than Securities replaced pursuant to
Section 2.07) for cancellation or (2) all outstanding Securities have become due and payable,
whether at maturity or on a redemption date as a result of the mailing of a notice of redemption
pursuant to Article 3 hereof and the Company irrevocably deposits with the Trustee funds sufficient
to pay at maturity or upon redemption all outstanding Securities, including interest thereon to
maturity or such redemption date (other than Securities replaced pursuant to Section 2.07), and if
in either case the Company pays all other sums payable hereunder by the Company, then this
Indenture shall, subject to Section 8.01(c), cease to be of further effect. The Trustee shall
acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an
Officers’ Certificate and an Opinion of Counsel and at the cost and expense of the Company.

(b) Subject to Sections 8.01(c) and 8.02, the Company at any time may terminate (1) all its
obligations under the Securities, the Subsidiary Guaranties and this Indenture (“legal defeasance
option”) or (2) its obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09,
4.10, 4.11 and 4.13 and the operation of Sections 5.01, 6.01(3), 6.01(4), 6.01(5), 6.01(6),
6.01(7), 6.01(8) and 6.01(9) (but, in the case of Sections 6.01(7) and (8), with respect only to
Significant Subsidiaries) (“covenant defeasance option”), and the Securities will thereafter be
deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act
of Holders (and the consequences of any thereof) in connection with such covenants, but will
continue to be deemed “outstanding” for all other purposes hereunder (it
being understood that such Securities will not be deemed outstanding for accounting purposes).
The Company may exercise its legal defeasance option notwithstanding its prior exercise of its
covenant defeasance option.

If the Company exercises its legal defeasance option, payment of the Securities and the
Guarantees may not be accelerated because of an Event of Default with respect thereto. If the
Company exercises its covenant defeasance option, payment of the Securities may not be accelerated
because of an Event of Default specified in Sections 6.01(4), 6.01(6), 6.01(7) and 6.01(8) (but, in
the case of such sections, with respect only to Significant Subsidiaries) or because of the failure
of the Company to comply with Section 5.01(a)(3). If the Company exercises its legal defeasance
option or its covenant defeasance option, each Guarantor, if any, shall be released from all of its
obligations with respect to its Guaranty.

 

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Upon satisfaction of the conditions set forth herein and upon request of the Company, the
Trustee shall acknowledge in writing the discharge of those obligations that the Company
terminates.

(c) Notwithstanding clauses (a) and (b) above, the Company’s obligations in Sections 2.03,
2.04, 2.05, 2.06, 2.07, 2.08, 7.07 and 7.08 and in this Article 8 shall survive until the
Securities have been paid in full. Thereafter, the Company’s obligations in Sections 7.07, 8.04
and 8.05 shall survive.

SECTION 8.02. Conditions to Defeasance. The Company may exercise its legal defeasance option
or its covenant defeasance option only if

(1) the Company irrevocably deposits in trust with the Trustee money or U.S. Government
Obligations for the payment of principal of and interest on the Securities to maturity or
redemption, as the case may be;

(2) the Company delivers to the Trustee a certificate from a nationally recognized firm
of independent accountants expressing their opinion that the payments of principal and
interest when due and without reinvestment on the deposited U.S. Government Obligations plus
any deposited money without investment will provide cash at such times and in such amounts
as will be sufficient to pay principal and interest when due on all the Securities to
maturity or redemption, as the case may be;

(3) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit (other than a Default or Event of Default resulting from the borrowing of funds
to be applied to such deposit) or insofar as Event of Defaults from bankruptcy or insolvency
events are concerned, at any time in the period ending on the 91st day after the date of
deposit;

(4) defeasance does not result in a breach or violation of, or constitute a default
under, this Indenture (other than a breach or violation of this Indenture resulting from the
borrowing of funds to be applied to such deposit and the grant of any Lien securing such
borrowing), the agreements governing Credit Facilities or any other material agreement or
instrument binding on the Company or any of its Restricted Subsidiaries and is not
prohibited by Article 10;

(5) the Company must have delivered to the Trustee an Opinion of Counsel to the effect
that, subject to customary circumstances and conditions, after the 91st day following the
deposit, the trust fund will not be subject to the effect of any applicable bankruptcy,
insolvency, reorganization or similar laws affecting creditors’ rights generally;

(6) in the case of the legal defeasance option, the Company shall have delivered to the
Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has
been published by, the Internal Revenue Service a ruling, or (B) since the date of this
Indenture there has been a change in the applicable Federal income tax law, in either case
to the effect that, and based thereon such Opinion of Counsel shall confirm that, the
Securityholders will not recognize income, gain or loss for Federal income tax purposes as a
result of such defeasance and will be subject to Federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such deposit and
defeasance had not occurred;

 

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(7) in the case of the covenant defeasance option, the Company shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Securityholders will not recognize
income, gain or loss for Federal income tax purposes as a result of such covenant defeasance
and will be subject to Federal income tax on the same amounts, in the same manner and at the
same times as would have been the case if such covenant defeasance had not occurred; and

(8) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent to the defeasance and discharge of the
Securities as contemplated by this Article 8 have been complied with.

Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for
the redemption of Securities at a future date in accordance with Article 3.

SECTION 8.03. Application of Trust Money. The Trustee shall hold in trust money or U.S.
Government Obligations deposited with it pursuant to this Article 8. It shall apply the deposited
money and the money from U.S. Government Obligations through the Paying Agent and in accordance
with this Indenture to the payment of principal of and interest on the Securities. Money and
securities so held in trust are not subject to Article 10.

SECTION 8.04. Repayment to Company. The Trustee and the Paying Agent shall promptly turn over
to the Company upon written request any excess money or securities held by them at any time.

Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay
to the Company upon request any money held by them for the payment of principal or interest that
remains unclaimed for two years, and, thereafter, Securityholders entitled to the money must look
to the Company for payment as general creditors.

SECTION 8.05. Indemnity for Government Obligations. The Company shall pay and shall indemnify
the Trustee against any tax, fee or other charge imposed on or
assessed against deposited U.S. Government Obligations deposited pursuant to this Article 8 or
the principal and interest received on such U.S. Government Obligations.

SECTION 8.06. Reinstatement. If the Trustee or Paying Agent is unable to apply any money or
U.S. Government Obligations in accordance with this Article 8 by reason of any legal proceeding or
by reason of any order or judgment of any court or governmental authority enjoining, restraining or
otherwise prohibiting such application, the Company’s obligations under this Indenture and the
Securities shall be revived and reinstated as though no deposit had occurred pursuant to this
Article 8 until such time as the Trustee or Paying Agent is permitted to apply all such money or
U.S. Government Obligations in accordance with this Article 8; provided, however, that, if the
Company has made any payment of interest on or principal of any Securities because of the
reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of
such Securities to receive such payment from the money or U.S. Government Obligations held by the
Trustee or Paying Agent.

 

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ARTICLE 9

Amendments

SECTION 9.01. Without Consent of Holders. The Company, the Subsidiary Guarantors and the
Trustee may amend this Indenture or the Securities without notice to or consent of any
Securityholder

(1) to cure any ambiguity, omission, mistake, defect or inconsistency;

(2) to comply with Article 5 or Section 4.03(e);

(3) to provide for uncertificated Securities in addition to or in place of certificated
Securities; provided, however, that the uncertificated Securities are issued in registered
form for purposes of Section 163(f) of the Code or in a manner such that the uncertificated
Securities are described in Section 163(f)(2)(B) of the Code;

(4) to add guarantees with respect to the Securities, including any Subsidiary
Guaranties, or to secure the Securities;

(5) to add to the covenants of the Company or a Subsidiary Guarantor for the benefit of
the Holders or to surrender any right or power herein conferred upon the Company or a
Subsidiary Guarantor;

(6) to make any change that does not adversely affect the rights of any Securityholder;
or

(7) to comply with any requirements of the SEC in connection with qualifying, or
maintaining the qualification of, this Indenture under the TIA.

An amendment under this Section may not make any change that adversely affects the rights
under Article 10 or 12 of any holder of Senior Indebtedness of the Company or
of a Guarantor then outstanding unless the holders of such Senior Indebtedness (or any group
or representative thereof authorized to give a consent) consent to such change.

After an amendment under this Section becomes effective, the Company shall mail to
Securityholders a notice briefly describing such amendment. The failure to give such notice to all
Securityholders, or any defect therein, shall not impair or affect the validity of an amendment
under this Section.

 

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SECTION 9.02. With Consent of Holders. The Company, the Subsidiary Guarantor and the Trustee
may amend this Indenture, or the Securities without notice to any Securityholder but with the
written consent of the Holders of at least a majority in aggregate principal amount of the
Securities then outstanding (voting as a single class) (including consents obtained in connection
with a tender offer for, exchange for or purchase of the Securities). However, without the consent
of each Securityholder affected thereby, an amendment may not

(1) reduce the amount of Securities whose Holders must consent to an amendment;

(2) reduce the rate of or extend the time for payment of interest on any Security;

(3) reduce the principal amount of or extend the Stated Maturity of any Security;

(4) reduce the amount payable upon the redemption of any Security or change the time at
which any Security may be redeemed in accordance with Article 3;

(5) make any Security payable in money other than that stated in the Security;

(6) impair the right of any Securityholder to receive payment of principal of and
interest on such Securityholder’s Securities on or after the due dates therefor or to
institute suit for the enforcement of any payment on or with respect to such
Securityholder’s Securities;

(7) make any changes in the ranking or priority of any Security that would adversely
affect the Securityholders;

(8) make any change in Section 6.04, 6.07 or 6.10 or the second sentence of this
Section;

(9) make any change in any Guaranty that would adversely affect the Securityholders in
any material respect; or

(10) reduce the percentage of the principal amount of outstanding securities necessary
for amendment to or waiver of compliance with any provision of this Indenture or the
Securities or for waiver of any default.

It shall not be necessary for the consent of the Holders under this Section to approve the
particular form of any proposed amendment, but it shall be sufficient if such consent approves the
substance thereof.

An amendment under this Section may not make any change that adversely affects the rights
under Article 10 or 12 of any holder of Senior Indebtedness of the Company or of a Subsidiary
Guarantor then outstanding unless the holders of such Senior Indebtedness (or any group or
representative thereof authorized to give a consent) consent to such change.

Section 2.08 hereof shall determine which Securities are considered to be “outstanding” for
purposes of this Section 9.02.

 

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After an amendment under this Section becomes effective, the Company shall mail to
Securityholders a notice briefly describing such amendment. The failure to give such notice to all
Securityholders, or any defect therein, shall not impair or affect the validity of an amendment
under this Section.

SECTION 9.03. Compliance with Trust Indenture Act. Every amendment to this Indenture or the
Securities shall comply with the TIA as then in effect.

SECTION 9.04. Revocation and Effect of Consents and Waivers. A consent to an amendment or a
waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security
or portion of the Security that evidences the same debt as the consenting Holder’s Security, even
if notation of the consent or waiver is not made on the Security. However, any such Holder or
subsequent Holder may revoke the consent or waiver as to such Holder’s Security or portion of the
Security if the Trustee receives the notice of revocation before the date the amendment or waiver
becomes effective. After an amendment or waiver becomes effective, it shall bind every
Securityholder. An amendment or waiver becomes effective upon the execution of such amendment or
waiver by the Trustee.

The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Securityholders entitled to give their consent or take any other action described
above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed,
then notwithstanding the immediately preceding paragraph, those Persons who were Securityholders at
such record date (or their duly designated proxies), and only those Persons, shall be entitled to
give such consent or to revoke any consent previously given or to take any such action, whether or
not such Persons continue to be Holders after such record date. No such consent shall be valid or
effective for more than 120 days after such record date.

SECTION 9.05. Notation on or Exchange of Securities. If an amendment changes the terms of a
Security, the Trustee may require the Holder of the Security to deliver it to the Trustee. The
Trustee may place an appropriate notation on the Security regarding the changed terms and return it
to the Holder. Alternatively, if the Company or the Trustee so determines, the Company in exchange
for the Security shall issue and the Trustee shall authenticate a new Security that reflects the
changed terms. Failure to make the appropriate notation or to issue a new Security shall not
affect the validity of such amendment.

SECTION 9.06. Trustee To Sign Amendments. The Trustee shall sign any amendment authorized
pursuant to this Article 9 if the amendment does not adversely affect the rights, duties,
liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In
signing such amendment the Trustee shall be entitled to receive indemnity reasonably satisfactory
to it and to receive, in addition to the documents required by Section 13.04, and (subject to
Section 7.01) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of
Counsel stating that such amendment is authorized or permitted by this Indenture.

SECTION 9.07. Payment for Consent. Neither the Company nor any Subsidiary of the Company
shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of
interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or
amendment of any of the terms or provisions of this Indenture or the Securities unless such
consideration is offered to be paid and is paid to all Holders that so consent, waive or agree to
amend in the time frame set forth in solicitation documents relating to such consent, waiver or
agreement.

 

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ARTICLE 10

Subordination

SECTION 10.01. Agreement To Subordinate. The Company agrees, and each Securityholder by
accepting a Security agrees, that the Indebtedness evidenced by the Securities and all other
Subordinated Securities Obligations are subordinated in right of payment, to the extent and in the
manner provided in this Article 10, to the prior payment in full in cash of all Senior Indebtedness
of the Company and that the subordination is for the benefit of and enforceable by the holders of
such Senior Indebtedness. The Securities shall in all respects rank pari passu with all other
Senior Subordinated Indebtedness of the Company, including Indebtedness under the Existing AMI
Notes, and only Indebtedness of the Company which is Senior Indebtedness of the Company shall rank
senior to the Securities in accordance with the provisions set forth herein. All provisions of
this Article 10 shall be subject to Section 10.12.

SECTION 10.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or distribution upon a
total or partial liquidation or dissolution of the Company or in a bankruptcy, reorganization,
insolvency, receivership or similar proceeding relating to the Company or its property,

(1) holders of Senior Indebtedness of the Company shall be entitled to receive payment
in full in cash or cash equivalents of such Senior Indebtedness before Securityholders shall
be entitled to receive any payment on the Securities;

(2) until such Senior Indebtedness of the Company is paid in full in cash or cash
equivalents, any payment or distribution to which Securityholders would be entitled but for
this Article 10 shall be made to holders of such Senior Indebtedness as their interests may
appear, except that Securityholders may receive shares of stock and any debt securities that
are subordinated to such Senior Indebtedness to at least the same extent as the Securities;
and

(3) if a distribution is made to Securityholders that, due to the provisions of this
Article 10, should not have been made to them, then the Securityholders shall hold such
distribution in trust for holders of the Senior Indebtedness and pay such distribution to
such holders as their interests may appear.

For purposes of this Section only, “cash equivalents” shall mean Temporary Cash Investments.

 

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SECTION 10.03. Default on Senior Indebtedness of the Company. The Company shall not pay the
principal of, premium, if any, or interest, if any, on the Securities or other Subordinated
Securities Obligations or make any deposit pursuant to Section 8.01 and may not purchase, redeem or
otherwise retire any Securities or other Subordinated Securities Obligations (collectively, “pay
the Securities”) if either of the following (a “Payment Default”) occurs:

(1) any Designated Senior Indebtedness of the Company is not paid in full in cash when
due; or

(2) any other default on Designated Senior Indebtedness of the Company occurs and the
maturity of such Designated Senior Indebtedness is accelerated in accordance with its terms

unless, in either case, the Payment Default has been cured or waived and any such acceleration has
been rescinded or such Designated Senior Indebtedness has been paid in full in cash; provided,
however, that the Company shall be entitled to pay the Securities and any other Subordinated
Securities Obligations without regard to the foregoing if the Company and the Trustee receive
written notice approving such payment from the Representatives of all Designated Senior
Indebtedness with respect to which the Payment Default has occurred and is continuing.

During the continuance of any default (other than a Payment Default) with respect to any
Designated Senior Indebtedness of the Company pursuant to which the maturity thereof may be
accelerated without further notice (except such notice as may be required to effect such
acceleration) or the expiration of any applicable grace periods, the Company shall not pay the
Securities or other Subordinated Securities Obligations for a period (a “Payment Blockage Period”)
commencing upon the receipt by the Trustee (with a copy to the Company) of written notice (a
“Blockage Notice”) of such default from the Representative of the Bank Indebtedness or, if no Bank
Indebtedness is outstanding, the Representative of such Designated Senior Indebtedness specifying
an election to effect a Payment Blockage Period and ending 179 days thereafter. The Payment
Blockage Period shall end earlier if such Payment Blockage Period is terminated:

(1) by written notice to the Trustee and the Company from the Person or Persons who
gave such Blockage Notice;

(2) because the default giving rise to such Blockage Notice is cured, waived or
otherwise no longer continuing; or

(3) because such Designated Senior Indebtedness has been discharged or repaid in full
in cash.

Notwithstanding the provisions described in the immediately preceding two sentences (but subject to
the provisions contained in the first sentence of this Section), unless a Payment Default exists,
the Company shall be entitled to resume payments on the Securities and the other Subordinated
Securities Obligations after termination of such Payment Blockage Period. The Securities shall not
be subject to more than one Payment Blockage Period in any consecutive 360-day period, irrespective
of the number of defaults with respect to Designated Senior Indebtedness of the Company during such
period.

For purposes of this Section, no default or event of default which existed or was continuing
on the date of the commencement of any Payment Blockage Period with respect to the Designated
Senior Indebtedness of the Company initiating such Payment Blockage Period shall be, or be made,
the basis of the commencement of a subsequent Payment Blockage Period by the Representative of such
Designated Senior Indebtedness, whether or not within a period of 360 consecutive days, unless such
default or event of default shall have been cured or waived for a period of not less than 90
consecutive days.

 

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SECTION 10.04. Acceleration of Payment of Securities. If payment of the Securities is
accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the
holders of the Designated Senior Indebtedness of the Company (or their Representatives) of the
acceleration.

SECTION 10.05. When Distribution Must Be Paid Over. If a distribution is made to
Securityholders that because of this Article 10 should not have been made to them, the
Securityholders who receive the distribution shall hold it in trust for holders of Senior
Indebtedness of the Company and pay it over to them as their interests may appear. If any
Designated Senior Indebtedness of the Company is outstanding, neither the Company nor any
Subsidiary Guarantor shall pay the Securities until five Business Days after the Representatives of
all the issues of Designated Senior Indebtedness of the Company receive notice of such acceleration
and, thereafter, shall be entitled to pay the Securities only if this Article 10 otherwise permits
payment at that time.

SECTION 10.06. Subrogation. After all Senior Indebtedness of the Company is paid in full and
until the Securities are paid in full, Securityholders shall be subrogated (equally and ratably
with all other Indebtedness pari passu with the Securities) to the rights of holders of such Senior
Indebtedness to receive distributions applicable to such Senior Indebtedness. A distribution made
under this Article 10 to holders of such Senior Indebtedness which otherwise would have been made
to Securityholders is not, as between the Company and Securityholders, a payment by the Company on
such Senior Indebtedness.

SECTION 10.07. Relative Rights. This Article 10 defines the relative rights of
Securityholders and holders of Senior Indebtedness of the Company. Nothing in this Indenture shall

(1) impair, as between the Company and Securityholders, the obligation of the Company,
which is absolute and unconditional, to pay principal of and interest on the Securities in
accordance with their terms; or

(2) prevent the Trustee or any Securityholder from exercising its available remedies
upon a Default, subject to the rights of holders of Senior Indebtedness of the Company to
receive distributions otherwise payable to Securityholders.

SECTION 10.08. Subordination May Not Be Impaired by Company. No right of any holder of Senior
Indebtedness of the Company to enforce the subordination of the Indebtedness evidenced by the
Securities shall be impaired by any act or failure to act by the Company or by its failure to
comply with this Indenture.

 

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SECTION 10.09. Rights of Trustee and Paying Agent. The Company shall give prompt written
notice to the Trustee of any fact known to the Company which would prohibit the making of any
payment to or by the Trustee in respect of the Securities. Failure to give such notice shall not
affect the subordination of the Securities to Senior Indebtedness. Notwithstanding Section 10.03,
the Trustee or Paying Agent shall continue to make payments on the Securities and shall not be
charged with knowledge of the existence of facts that under this Article 10 would prohibit the
making of any such payments unless, not less than two Business Days prior to the date of such
payment, a Trust Officer of the Trustee receives notice satisfactory to it that such payments are
prohibited by this Article 10. The Company, the Registrar or co-registrar, the Paying Agent, a
Representative or a holder of Senior Indebtedness of the Company shall be entitled to give the
notice; provided, however, that, if an issue of Senior Indebtedness of the Company has a
Representative, only the Representative shall be entitled to give the notice.

The Trustee in its individual or any other capacity shall be entitled to hold Senior
Indebtedness of the Company with the same rights it would have if it were not Trustee. The
Registrar and co-registrar and the Paying Agent shall be entitled to do the same with like rights.
The Trustee shall be entitled to all the rights set forth in this Article 10 with respect to any
Senior Indebtedness of the Company which may at any time be held by it, to the same extent as any
other holder of such Senior Indebtedness; and nothing in Article 7 shall deprive the Trustee of any
of its rights as such holder. Nothing in this Article 10 shall apply to claims of, or payments to,
the Trustee under or pursuant to Section 7.07.

SECTION 10.10. Distribution or Notice to Representative. Whenever any Person is to make a
distribution or give a notice to holders of Senior Indebtedness of the Company, such Person shall
be entitled to make such distribution or give such notice to their Representative (if any).

SECTION 10.11. Article 10 Not To Prevent Events of Default or Limit Right to Accelerate. The
failure to make a payment pursuant to the Securities by reason of any provision in this Article 10
shall not be construed as preventing the occurrence of a Default. Nothing in this Article 10 shall
have any effect on the right of the Securityholders or the Trustee to accelerate the maturity of
the Securities.

SECTION 10.12. Trust Moneys Not Subordinated. Notwithstanding anything contained herein to
the contrary, payments from money or the proceeds of U.S. Government Obligations held in trust
under Article 8 by the Trustee for the payment of principal of and interest on the Securities shall
not be subordinated to the prior payment of any Senior Indebtedness of the Company or subject to
the restrictions set forth in this Article 10, and none of the Securityholders shall be obligated
to pay over any such amount to the Company or any holder of Senior Indebtedness of the Company or
any other creditor of the Company.

SECTION 10.13. Trustee Entitled to Rely. Upon any payment or distribution pursuant to this
Article 10, the Trustee and the Securityholders shall be entitled to conclusively rely (1) upon any
order or decree of a court of competent jurisdiction in which any proceedings of the nature
referred to in Section 10.02 are pending, (2) upon a certificate of the liquidating trustee or
agent or other Person making such payment or distribution to the Trustee or to the Securityholders
or (3) upon the Representatives of Senior Indebtedness of the Company for the purpose of
ascertaining the Persons entitled to participate in such payment or distribution, the holders of
such Senior Indebtedness and other Indebtedness of the Company, the amount thereof or payable
thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article 10. In the event that the Trustee determines, in good faith, that evidence is
required with respect to the right of any Person as a holder of Senior Indebtedness of the Company
to participate in any payment or distribution pursuant to this Article 10, the Trustee shall be
entitled to request such Person to furnish evidence to the reasonable satisfaction of the Trustee
as to the amount of such Senior Indebtedness held by such Person, the extent to which such Person
is entitled to participate in such payment or distribution and other facts pertinent to the rights
of such Person under this Article 10, and, if such evidence is not furnished, the Trustee shall be
entitled to defer any payment to such Person pending judicial determination as to the right of such
Person to receive such payment. The provisions of Sections 7.01 and 7.02 shall be applicable to
all actions or omissions of actions by the Trustee pursuant to this Article 10.

 

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SECTION 10.14. Trustee To Effectuate Subordination. Each Securityholder by accepting a
Security authorizes and directs the Trustee on his behalf to take such action as may be necessary
or appropriate to acknowledge or effectuate the subordination between the Securityholders and the
holders of Senior Indebtedness of the Company as provided in this Article 10 and appoints the
Trustee as attorney-in-fact for any and all such purposes.

SECTION 10.15. Trustee Not Fiduciary for Holders of Senior Indebtedness of the Company. The
Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of the
Company and shall not be liable to any such holders if it shall mistakenly pay over or distribute
to Securityholders or the Company or any other Person, money or assets to which any holders of
Senior Indebtedness of the Company shall be entitled by virtue of this Article 10 or otherwise.

SECTION 10.16. Reliance by Holders of Senior Indebtedness of the Company on Subordination
Provisions. Each Securityholder by accepting a Security acknowledges and agrees that the foregoing
subordination provisions are, and are intended to be, an inducement and a consideration to each
holder of any Senior Indebtedness of the Company, whether such Senior Indebtedness was created or
acquired before or after the issuance of the Securities, to acquire and continue to hold, or to
continue to hold, such Senior
Indebtedness and such holder of such Senior Indebtedness shall be deemed conclusively to have
relied on such subordination provisions in acquiring and continuing to hold, or in continuing to
hold, such Senior Indebtedness.

ARTICLE 11

Subsidiary Guaranties

SECTION 11.01. Guaranties. Each Subsidiary Guarantor hereby unconditionally and irrevocably
guarantees, jointly and severally, to each Holder of a Security authenticated and delivered by the
Trustee and to the Trustee and its successors and assigns (a) the full and punctual payment of
principal of and interest on the Securities or other Subordinated Securities Obligations when due,
whether at maturity, by acceleration, by redemption or otherwise, and all other monetary
obligations of the Company under this Indenture and the Securities and (b) the full and punctual
performance within applicable grace periods of all other obligations of the Company under this
Indenture and the Securities (all the foregoing being hereinafter collectively called the
“Obligations”). Each Subsidiary Guarantor further agrees that the Obligations may be extended or
renewed, in whole or in part, without notice or further assent from such Subsidiary Guarantor and
that such Subsidiary Guarantor shall remain bound under this Article 11 notwithstanding any
extension or renewal of any Obligation.

 

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Each Subsidiary Guarantor waives presentation to, demand of, payment from and protest to the
Company of any of the Obligations and also waives notice of protest for nonpayment. Each
Subsidiary Guarantor waives notice of any default under the Securities or the Obligations. The
obligations of each Subsidiary Guarantor hereunder shall not be affected by (a) the failure of any
Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the
Company or any other Person under this Indenture, the Securities or any other agreement or
otherwise; (b) any extension or renewal of any thereof; (c) any rescission, waiver, amendment or
modification of any of the terms or provisions of this Indenture, the Securities or any other
agreement; (d) the release of any security held by any Holder or the Trustee for the Obligations or
any of them; (e) the failure of any Holder or the Trustee to exercise any right or remedy against
any other guarantor of the Obligations; or (f) except as set forth in Section 11.06, any change in
the ownership of such Subsidiary Guarantor.

Each Subsidiary Guarantor further agrees that its Subsidiary Guaranty herein constitutes a
guarantee of payment, performance and compliance when due (and not a guarantee of collection) and
waives any right to require that any resort be had by any Holder or the Trustee to any security
held for payment of the Obligations.

Each Subsidiary Guaranty is, to the extent and in the manner set forth in Article 12,
subordinated and subject in right of payment to the prior payment in full of the principal of and
premium, if any, and interest on all Senior Indebtedness of the Subsidiary Guarantor giving such
Subsidiary Guaranty and each Subsidiary Guaranty is made subject to such provisions of this
Indenture.

Except as expressly set forth in Sections 8.01(b), 11.02 and 11.06, the obligations of each
Subsidiary Guarantor hereunder shall not be subject to any reduction, limitation,
impairment or termination for any reason, including any claim of waiver, release, surrender,
alteration or compromise, and shall not be subject to any defense of setoff, counterclaim,
recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability
of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations
of each Subsidiary Guarantor herein shall not be discharged or impaired or otherwise affected by
the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy
under this Indenture, the Securities or any other agreement, by any waiver or modification of any
thereof, by any default, failure or delay, willful or otherwise, in the performance of the
obligations, or by any other act or thing or omission or delay to do any other act or thing which
may or might in any manner or to any extent vary the risk of such Subsidiary Guarantor or would
otherwise operate as a discharge of such Subsidiary Guarantor as a matter of law or equity.

Each Subsidiary Guarantor further agrees that its Guarantee herein shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of
principal of or interest on any Obligation is rescinded or must otherwise be restored by any Holder
or the Trustee upon the bankruptcy or reorganization of the Company or otherwise.

 

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In furtherance of the foregoing and not in limitation of any other right which any Holder or
the Trustee has at law or in equity against any Subsidiary Guarantor by virtue hereof, upon the
failure of the Company to pay the principal of or interest on any Obligation when and as the same
shall become due, whether at maturity, by acceleration, by redemption or otherwise, or to perform
or comply with any other Obligation, each Subsidiary Guarantor hereby promises to and shall, upon
receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the
Holders or the Trustee an amount equal to the sum of (1) the unpaid amount of such Obligations,
(2) accrued and unpaid interest on such Obligations (but only to the extent not prohibited by law)
and (3) all other monetary Obligations of the Company to the Holders and the Trustee.

Each Subsidiary Guarantor agrees that it shall not be entitled to any right of subrogation in
respect of any Obligations guaranteed hereby until payment in full of all Obligations and all
obligations to which the Obligations are subordinated as provided in Article 12. Each Subsidiary
Guarantor further agrees that, as between it, on the one hand, and the Holders and the Trustee, on
the other hand, (x) the maturity of the Obligations Guaranteed hereby may be accelerated as
provided in Article 6 for the purposes of such Subsidiary Guarantor’s Subsidiary Guaranty herein,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect
of the Obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of
such Obligations as provided in Article 6, such Obligations (whether or not due and payable) shall
forthwith become due and payable by such Subsidiary Guarantor for the purposes of this Section.
Each Subsidiary Guarantor shall have the right to seek contribution from any non-paying Subsidiary
Guarantor in an amount equal to such non-paying Subsidiary Guarantor’s pro rata portion of such
payment based on the respective net assets of all of the Subsidiary Guarantors at the time of such
payment as determined in accordance with GAAP, so long as the exercise of such right does not
impair the rights of the Holders under the Guaranty.

Each Subsidiary Guarantor also agrees to pay any and all costs and expenses (including
reasonable attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing any
rights under this Section.

SECTION 11.02. Limitation on Liability. Any term or provision of this Indenture to the
contrary notwithstanding, the maximum aggregate amount of the Obligations guaranteed hereunder by
any Subsidiary Guarantor shall not exceed the maximum amount that can be hereby guaranteed without
rendering this Indenture, as it relates to such Subsidiary Guarantor, voidable under applicable law
relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of
creditors generally.

SECTION 11.03. Successors and Assigns. This Article 11 shall be binding upon each Subsidiary
Guarantor and its successors and assigns and shall enure to the benefit of the successors and
assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by
any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture
and in the Securities shall automatically extend to and be vested in such transferee or assignee,
all subject to the terms and conditions of this Indenture.

 

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SECTION 11.04. No Waiver. Neither a failure nor a delay on the part of either the Trustee or
the Holders in exercising any right, power or privilege under this Article 11 shall operate as a
waiver thereof, nor shall a single or partial exercise thereof preclude any other or further
exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and
the Holders herein expressly specified are cumulative and not exclusive of any other rights,
remedies or benefits which either may have under this Article 11 at law, in equity, by statute or
otherwise.

SECTION 11.05. Modification. No modification, amendment or waiver of any provision of this
Article 11, nor the consent to any departure by any Subsidiary Guarantor therefrom, shall in any
event be effective unless the same shall be in writing and signed by the Trustee, and then such
waiver or consent shall be effective only in the specific instance and for the purpose for which
given. No notice to or demand on any Subsidiary Guarantor in any case shall entitle such
Subsidiary Guarantor to any other or further notice or demand in the same, similar or other
circumstances.

SECTION 11.06. Release of Subsidiary Guarantor. Upon the sale or other disposition (including
by way of consolidation or merger) of a Subsidiary Guarantor or the sale or disposition of all or
substantially all the assets of such Subsidiary Guarantor (in each case other than a sale or
disposition to the Company or another Subsidiary Guarantor or an Affiliate of the Company), or if
the Company properly designates any Restricted Subsidiary that is a Subsidiary Guarantor as an
Unrestricted Subsidiary in accordance with the applicable provisions of this Indenture, or at such
time a Subsidiary Guarantor no longer has outstanding any other Indebtedness or Guarantees any
Indebtedness of the Company or another Subsidiary Guarantor, such Subsidiary Guarantor shall be
deemed released from all obligations under this Article 11 without any further action required on
the part of the Trustee or any Holder. At the written request of the Company, upon receipt of an
Officers’ Certificate, the Trustee shall execute and deliver an appropriate instrument evidencing
such release.

ARTICLE 12

Subordination of Subsidiary Guaranties

SECTION 12.01. Agreement To Subordinate. Each Subsidiary Guarantor agrees, and each
Securityholder by accepting a Security agrees, that the Indebtedness evidenced by such Subsidiary
Guarantor’s Subsidiary Guaranty and all other Subordinated Securities Obligations are subordinated
in right of payment, to the extent and in the manner provided in this Article 12, to the prior
payment in full in cash of all Senior Indebtedness of such Subsidiary Guarantor and that the
subordination is for the benefit of and enforceable by the holders of such Senior Indebtedness.
The Obligations of a Subsidiary Guarantor shall in all respects rank pari passu with all other
Senior Subordinated Indebtedness of such Subsidiary Guarantor, including Indebtedness under its
Guarantee of the Existing AMI Notes, and only Senior Indebtedness of such Subsidiary Guarantor
(including such Subsidiary Guarantor’s Guaranty of Senior Indebtedness of the Company) shall rank
senior to the Obligations of such Subsidiary Guarantor in accordance with the provisions set forth
herein.

 

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SECTION 12.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or distribution upon a
total or partial liquidation or dissolution of such Subsidiary Guarantor or in a bankruptcy,
reorganization, insolvency, receivership or similar proceeding relating to such Subsidiary
Guarantor or its property,

(1) holders of Senior Indebtedness of such Subsidiary Guarantor shall be entitled to
receive payment in full in cash of such Senior Indebtedness before Securityholders shall be
entitled to receive any payment pursuant to the Subsidiary Guaranty of such Subsidiary
Guarantor;

(2) until the Senior Indebtedness of any Subsidiary Guarantor is paid in full in cash,
any payment or distribution to which Securityholders would be entitled but for this
Article 12 shall be made to holders of such Senior Indebtedness as their interests may
appear, except that Securityholders may receive shares of stock and any debt securities of
such Subsidiary Guarantor that are subordinated to such Senior Indebtedness to at least the
same extent as the Subsidiary Guaranty;

(3) if a distribution is made to Securityholders that, due to the provisions of this
Article 12, should not have been made to them, then the Securityholders shall hold such
distribution in trust for holders of the Senior Indebtedness and pay such distribution to
such holders as their interests may appear.

SECTION 12.03. Default on Senior Indebtedness of Subsidiary Guarantor. No Subsidiary
Guarantor shall make its Subsidiary Guaranty or purchase, redeem or otherwise retire or defease any
Securities or other Subordinated Securities Obligations (collectively, “pay its Subsidiary
Guaranty”) if either of the following (a “Payment Default”) occurs:

(1) any Designated Senior Indebtedness of such Subsidiary Guarantor is not paid in full
in cash when due; or

(2) any other default on Designated Senior Indebtedness of such Subsidiary Guarantor
occurs and the maturity of such Designated Senior Indebtedness is accelerated in accordance
with its terms

unless, in either case, the Payment Default has been cured or waived and any such acceleration has
been rescinded or such Designated Senior Indebtedness has been paid in full in cash; provided,
however, that any Subsidiary Guarantor shall be entitled to pay its Subsidiary Guaranty or any
other Subordinated Securities Obligations without regard to the foregoing if such Subsidiary
Guarantor and the Trustee receive written notice approving such payment from the Representatives of
all Designated Senior Indebtedness with respect to which the Payment Default has occurred and is
continuing.

 

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During the continuance of any default (other than a Payment Default) with respect to any
Designated Senior Indebtedness of such Subsidiary Guarantor pursuant to which the maturity thereof
may be accelerated without further notice (except such notice as may be required to effect such
acceleration) or the expiration of any applicable grace periods, such Subsidiary Guarantor shall
not pay its Subsidiary Guaranty or other Subordinated Securities Obligations for a period (a
“Subsidiary Guaranty Payment Blockage Period”) commencing upon the receipt by the Trustee of (with
a copy to such Subsidiary Guarantor) written notice (a “Subsidiary Guaranty Blockage Notice”) of
such default from the Representative of such Designated Senior Indebtedness specifying an election
to effect a Subsidiary Guaranty Payment Blockage Period and ending 179 days thereafter. The
Subsidiary Guaranty Payment Blockage Period shall end earlier if such Subsidiary Guaranty Payment
Blockage Period is terminated:

(1) by written notice to the Trustee and such Subsidiary Guarantor from the Person or
Persons who gave such Subsidiary Guaranty Blockage Notice;

(2) because the default giving rise to such Subsidiary Guaranty Blockage Notice is
cured, waived or otherwise no longer continuing; or

(3) because such Designated Senior Indebtedness has been discharged or repaid in full
in cash.

Notwithstanding the provisions described in the immediately preceding two sentences (but subject to
the provisions contained in the first sentence of this Section), unless a Payment Default exists,
any Subsidiary Guarantor shall be entitled to resume payments pursuant to its Subsidiary Guaranty
and other Subordinated Securities Obligations after termination of such Subsidiary Guaranty Payment
Blockage Period. No Subsidiary Guarantor shall be subject to more than one Subsidiary Guaranty
Payment Blockage Period in any consecutive 360-day period, irrespective of the number of defaults
with respect to Designated Senior Indebtedness of such Subsidiary Guarantor during such period.

For purposes of this Section, no default or event of default which existed or was continuing
on the date of the commencement of any Subsidiary Guaranty Payment Blockage Period with respect to
the Designated Senior Indebtedness of such Subsidiary Guarantor initiating such Subsidiary Guaranty
Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent
Subsidiary Guaranty Payment Blockage Period by the
Representative of such Designated Senior Indebtedness, whether or not within a period of 360
consecutive days, unless such default or event of default shall have been cured or waived for a
period of not less than 90 consecutive days.

SECTION 12.04. Demand for Payment. If a demand for payment is made on a Subsidiary Guarantor
pursuant to Article 11, the Trustee shall promptly notify the holders of the Designated Senior
Indebtedness of such Subsidiary Guarantor (or their Representatives) of such demand.

SECTION 12.05. When Distribution Must Be Paid Over. If a distribution is made to
Securityholders that because of this Article 12 should not have been made to them, the
Securityholders who receive the distribution shall hold it in trust for holders of Senior
Indebtedness of the applicable Subsidiary Guarantor and pay it over to them or their
Representatives as their interests may appear.

SECTION 12.06. Subrogation. After all Senior Indebtedness of a Subsidiary Guarantor is paid
in full and until the Securities are paid in full, Securityholders shall be subrogated (equally and
ratably with all other Indebtedness pari passu with such Subsidiary Guaranties) to the rights of
holders of such Senior Indebtedness to receive distributions applicable to Senior Indebtedness of
such Subsidiary Guarantor. A distribution made under this Article 12 to holders of such Senior
Indebtedness which otherwise would have been made to Securityholders is not, as between the
relevant Subsidiary Guarantor and Securityholders, a payment by such Subsidiary Guarantor on such
Senior Indebtedness.

 

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SECTION 12.07. Relative Rights. This Article 12 defines the relative rights of
Securityholders and holders of Senior Indebtedness of a Subsidiary Guarantor. Nothing in this
Indenture shall

(1) impair, as between a Subsidiary Guarantor and Securityholders, the obligation of
such Subsidiary Guarantor, which is absolute and unconditional, to pay its Subsidiary
Guaranty to the extent set forth in Article 11; or

(2) prevent the Trustee or any Securityholder from exercising its available remedies
upon a default by such Subsidiary Guarantor under its Subsidiary Guaranty, subject to the
rights of holders of Senior Indebtedness of such Subsidiary Guarantor to receive
distributions otherwise payable to Securityholders.

SECTION 12.08. Subordination May Not Be Impaired by Company. No right of any holder of Senior
Indebtedness of any Subsidiary Guarantor to enforce the subordination of the Subsidiary Guaranty of
such Subsidiary Guarantor shall be impaired by any act or failure to act by such Subsidiary
Guarantor or by its failure to comply with this Indenture.

SECTION 12.09. Rights of Trustee and Paying Agent. The Company shall give prompt written
notice to the Trustee of any fact known to the Company which would prohibit the making of any
payment to or by the Trustee in respect of the Securities. Failure to give such notice shall not
affect the subordination of the Securities to Senior Indebtedness. Notwithstanding Section 12.03,
the Trustee or Paying Agent shall continue to make payments on any Subsidiary Guaranty and shall
not be charged with knowledge of the existence of facts that
would prohibit the making of any such payments unless, not less than two Business Days prior
to the date of such payment, a Trust Officer of the Trustee receives written notice satisfactory to
it that such payments are prohibited by this Article 12. The Company, the relevant Subsidiary
Guarantor, the Registrar or co-registrar, the Paying Agent, a Representative or a holder of Senior
Indebtedness of such Subsidiary Guarantor shall be entitled to give the notice; provided, however,
that, if an issue of Senior Indebtedness of any Subsidiary Guarantor has a Representative, only the
Representative shall be entitled to give the notice.

The Trustee in its individual or any other capacity shall be entitled to hold Senior
Indebtedness of any Subsidiary Guarantor with the same rights it would have if it were not the
Trustee. The Registrar and co-registrar and the Paying Agent may do the same with like rights.
The Trustee shall be entitled to all the rights set forth in this Article 12 with respect to any
Senior Indebtedness of any Subsidiary Guarantor which may at any time be held by it, to the same
extent as any other holder of such Senior Indebtedness; and nothing in Article 7 shall deprive the
Trustee of any of its rights as such holder. Nothing in this Article 12 shall apply to claims of,
or payments to, the Trustee under or pursuant to Section 7.07.

 

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SECTION 12.10. Distribution or Notice to Representative. Whenever any Person is to make a
distribution or give a notice to holders of Senior Indebtedness of any Subsidiary Guarantor, such
Person shall be entitled to make such distribution or give such notice to their Representative (if
any).

SECTION 12.11. Article 12 Not To Prevent Events of Default or Limit Right To Demand Payment.
The failure to make a payment pursuant to a Subsidiary Guaranty by reason of any provision in this
Article 12 shall not be construed as preventing the occurrence of a Default. Nothing in this
Article 12 shall have any effect on the right of the Securityholders or the Trustee to make a
demand for payment on any Subsidiary Guarantor pursuant to its Subsidiary Guaranty.

SECTION 12.12. Trustee Entitled To Rely. Upon any payment or distribution pursuant to this
Article 12, the Trustee and the Securityholders shall be entitled to conclusively rely (1) upon any
order or decree of a court of competent jurisdiction in which any proceedings of the nature
referred to in Section 12.02 are pending, (2) upon a certificate of the liquidating trustee or
agent or other Person making such payment or distribution to the Trustee or to the Securityholders
or (3) upon the Representatives for the holders of Senior Indebtedness of any Subsidiary Guarantor
for the purpose of ascertaining the Persons entitled to participate in such payment or
distribution, the holders of such Senior Indebtedness and other indebtedness of such Subsidiary
Guarantor, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon
and all other facts pertinent thereto or to this Article 12. In the event that the Trustee
determines, in good faith, that evidence is required with respect to the right of any Person as a
holder of Senior Indebtedness of any Subsidiary Guarantor to participate in any payment or
distribution pursuant to this Article 12, the Trustee shall be entitled to request such Person to
furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior
Indebtedness of such Subsidiary Guarantor held by such Person, the extent to which such Person is
entitled to participate in such payment or distribution and other facts pertinent to the rights of
such Person under this Article 12, and, if such evidence is not furnished, the Trustee shall be
entitled to defer any payment to such Person pending judicial determination as to the
right of such Person to receive such payment. The provisions of Sections 7.01 and 7.02 shall
be applicable to all actions or omissions of actions by the Trustee pursuant to this Article 12.

SECTION 12.13. Trustee To Effectuate Subordination. Each Securityholder by accepting a
Security authorizes and directs the Trustee on his behalf to take such action as may be necessary
or appropriate to acknowledge or effectuate the subordination between the Securityholders and the
holders of Senior Indebtedness of any Subsidiary Guarantor as provided in this Article 12 and
appoints the Trustee as attorney-in-fact for any and all such purposes.

SECTION 12.14. Trustee Not Fiduciary for Holders of Senior Indebtedness of Subsidiary
Guarantor. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior
Indebtedness of any Subsidiary Guarantor and shall not be liable to any such holders if it shall
mistakenly pay over or distribute to Securityholders or the Company or any other Person, money or
assets to which any holders of such Senior Indebtedness shall be entitled by virtue of this
Article 12 or otherwise.

 

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SECTION 12.15. Reliance by Holders of Senior Indebtedness of Subsidiary Guarantors on
Subordination Provisions. Each Securityholder by accepting a Security acknowledges and agrees that
the foregoing subordination provisions are, and are intended to be, an inducement and a
consideration to each holder of any Senior Indebtedness of any Subsidiary Guarantor, whether such
Senior Indebtedness was created or acquired before or after the issuance of the Securities, to
acquire and continue to hold, or to continue to hold, such Senior Indebtedness and such holder of
Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in
acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.

ARTICLE 13

Miscellaneous

SECTION 13.01. Trust Indenture Act Controls. If any provision of this Indenture limits,
qualifies or conflicts with another provision which is required to be included in this Indenture by
the TIA, the required provision shall control.

SECTION 13.02. Notices. Any notice or communication shall be in writing (including telecopy)
and delivered in person or mailed by first-class mail addressed as follows:

if to the Company or any Subsidiary Guarantor:

Associated Materials, LLC

3773 State Road

Cuyahoga Falls, Ohio 44223

Attention: Thomas N. Chieffe

Telecopy:

with copies to:

Gibson, Dunn & Crutcher, LLP

200 Park Avenue

New York, NY 10166

Attention: Joerg H. Esdorn, Esq.

if to the Trustee:

Deutsche Bank Trust Company Americas

60 Wall Street, 27th Floor, Mail Stop NYC60-2710

New York, NY 10005

Attention of: Trust & Securities Services

 

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in addition copies of correspondence are to be sent to:

Deutsche Bank National Trust Company for Deutsche Bank Trust Company Americas

25 DeForest Avenue, Mail Stop SUM01-0105

Summit, NJ 07901

Telecopy: (732) 578-4635

The Company, any Subsidiary Guarantor or the Trustee by notice to the other may designate
additional or different addresses for subsequent notices or communications.

Any notice or communication mailed to a Securityholder shall be mailed to the Securityholder
at the Securityholder’s address as it appears on the registration books of the Registrar and shall
be sufficiently given if so mailed within the time prescribed.

Failure to mail a notice or communication to a Securityholder or any defect in it shall not
affect its sufficiency with respect to other Securityholders. If a notice or communication is
mailed in the manner provided above, it is duly given, whether or not the addressee receives it.

SECTION 13.03. Communication by Holders with Other Holders. Securityholders may communicate
pursuant to TIA Section 312(b) with other Securityholders with respect to their rights under this
Indenture or the Securities. The Company, any Subsidiary Guarantor, the Trustee, the Registrar and
anyone else shall have the protection of TIA Section 312(c).

SECTION 13.04. Certificate and Opinion as to Conditions Precedent. Upon any request or
application by the Company to the Trustee to take or refrain from taking any action under this
Indenture, the Company shall furnish to the Trustee

(1) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee stating that, in the opinion of the signers, all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been complied with; and

(2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
stating that, in the opinion of such counsel, such action is authorized or permitted by this
Indenture and that all such conditions precedent have been complied with.

SECTION 13.05. Statements Required in Certificate or Opinion. Each certificate or opinion
with respect to compliance with a covenant or condition provided for in this Indenture shall
include

(1) a statement that the individual making such certificate or opinion has read such
covenant or condition;

(2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

 

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(3) a statement that, in the opinion of such individual, he has made such examination
or investigation as is necessary to enable him to express an informed opinion as to whether
or not such covenant or condition has been complied with; and

(4) a statement as to whether or not, in the opinion of such individual, such covenant
or condition has been complied with.

SECTION 13.06. When Securities Disregarded. In determining whether the Holders of the
required principal amount of Securities have concurred in any direction, waiver or consent,
Securities owned by the Company or by any Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company shall be disregarded and deemed not
to be outstanding, except that, for the purpose of determining whether the Trustee shall be
protected in relying on any such direction, waiver or consent, only Securities which a Trust
Officer of the Trustee actually knows are so owned shall be so disregarded. Also, subject to the
foregoing, only Securities outstanding at the time shall be considered in any such determination.

SECTION 13.07. Rules by Trustee. The Trustee may make reasonable rules for action by or a
meeting of Securityholders. The Registrar and the Paying Agent may make reasonable rules for their
functions.

SECTION 13.08. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or a day on which
banking institutions are not required to be open in the State of New York. If a payment date is a
Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no
interest shall accrue for the intervening period. If a regular record date is a Legal Holiday, the
record date shall not be affected.

SECTION 13.09. GOVERNING LAW; WAIVER OF JURY TRIAL. THIS INDENTURE AND THE SECURITIES SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF
THE LAW OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

SECTION 13.10. No Recourse Against Others. No past, present or future director, officer,
employee, member, incorporator or stockholder, as such, of the Company or any Subsidiary Guarantor
shall not have any liability for any obligations of the Company under the Securities or this
Indenture or of such Subsidiary Guarantor under its Subsidiary Guaranty or this Indenture or for
any claim based on, in respect of or by reason of such obligations or their creation. By accepting
a Security, each Securityholder shall waive and release all such liability. The waiver and release
shall be part of the consideration for the issuance of the Securities. Such waiver and release may
not be effective to waive liabilities under the U.S. Federal securities laws, and it is the view of
the SEC that such a waiver is against public policy.

 

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SECTION 13.11. Successors. All agreements of the Company in this Indenture and the Securities
shall bind its successors. All agreements of the Trustee in this Indenture shall bind its
successors.

SECTION 13.12. Multiple Originals. The parties may sign any number of copies of this
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement. One signed copy is enough to prove this Indenture. The exchange of copies of this
Indenture and of signature pages by facsimile or PDF transmission shall constitute effective
execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the
original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or
PDF shall be deemed to be their original signatures for all purposes.

SECTION 13.13. Table of Contents; Headings. The table of contents, cross-reference sheet and
headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not intended to be considered a part hereof and shall not modify or restrict
any of the terms or provisions hereof.

SECTION 13.14. No Adverse Interpretations of Other Agreements. This Indenture may not be used
to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of
any other Person. Any such Indenture, loan or debt agreement may not be used to interpret this
Indenture.

SECTION 13.15. Force Majeure. In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of or caused by,
directly or indirectly, forces beyond its control, including, without limitation, strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software and hardware) services; it being understood that the Trustee shall use
reasonable efforts which are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances.

SECTION 13.16. U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section
326 of the U.S.A. Patriot Act, the Trustee, like all financial institutions and in order to help
fight the funding of terrorism and money laundering, is required to obtain, verify, and record
information that identifies each person or legal entity that establishes a relationship or opens an
account with the Trustee. The parties to this Indenture agree that they will provide the Trustee
with such information as it may request in order for the Trustee to satisfy the requirements of the
U.S.A. Patriot Act.

 

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IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the date
first written above.

	 	 	 	 	 
	 	ASSOCIATED MATERIALS, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	ALSIDE, INC.,

as Subsidiary Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	GENTEK HOLDINGS, LLC.,

as Subsidiary Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	GENTEK BUILDING PRODUCTS, INC.

as Subsidiary Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

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RULE 144A/REGULATION S APPENDIX

PROVISIONS RELATING TO SECURITIES

1. Definitions

1.1 Definitions

For the purposes of this Appendix the following terms shall have the meanings indicated below:

“Applicable Procedures” means, with respect to any transfer or transaction involving a
Temporary Regulation S Global Security or beneficial interest therein, the rules and procedures of
the Depository, Euroclear and Clearstream for such a Temporary Regulation S Global Security, in
each case to the extent applicable to such transaction and as in effect from time to time.

“Clearstream” means Clearstream Banking, societe anonyme, or any successor securities clearing
agency.

“Definitive Security” means a certificated Security bearing, if required, the restricted
securities legend set forth in Section 2.3(e).

“Depositary” means The Depository Trust Company, its nominees and their respective successors.

“Distribution Compliance Period”, with respect to any Securities, means the period of 40
consecutive days beginning on and including the later of (i) the day on which such Securities are
first offered to Persons other than distributors (as defined in Regulation S under the Securities
Act) in reliance on Regulation S and (ii) the Issue Date with respect to such Securities.

“Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear System or any
successor securities clearing agency.

“Institutional Accredited Investor” means an institutional “accredited investor” as defined in
Rule 501(a)(1), (2), (3) or (7) under the Securities Act.

“Purchase Agreement” means the Purchase Agreement dated June [ ], 2009, between the
Company and the Purchasers.

“Purchasers” means Apollo Investment Corporation, The Northwestern Mutual Life Insurance
Company and Goldman, Sachs & Co.

“QIB” means a “qualified institutional buyer” as defined in Rule 144A.

“Securities” means $20 million aggregate principal amount of 15% Senior Subordinated Notes Due
2012 of the Company issued on the Issue Date.

 

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

“Securities Custodian” means the custodian with respect to a Global Security (as appointed by
the Depositary), or any successor Person thereto and shall initially be the Trustee.

“Transfer Restricted Security” means a Security that bears or is required to bear the legend
set forth in Section 2.3(e) hereto.

1.2 Other Definitions

	 	 	 	 	 
	 	 	Defined	 
	Term	 	in Section	 
	 
	 	 	 	 
	“Agent Members”
	 	 	2.1	(b)
	“Global Security”
	 	 	2.1	(a)
	“Permanent Regulation S Global Security”
	 	 	2.1	(a)
	“Regulation S”
	 	 	2.1	(a)
	“Rule 144A”
	 	 	2.1	(a)
	“Rule 144A Global Security”
	 	 	2.1	(a)
	“Temporary Regulation S Global Security”
	 	 	2.1	(a)

2. The Securities.

2.1 Form and Dating. The Securities will be offered and sold by the Company pursuant to the
Purchase Agreement and Section 4(2) of the Securities Act. Securities may thereafter be
transferred to, among others, QIBs, Institutional Accredited Investors and purchasers in reliance
on Regulation S under the Securities Act (“Regulation S”), subject to the restrictions on transfer
set forth herein. Securities shall be issued initially in the form of one or more Definitive
Securities in fully registered form without interest coupons and with the restricted securities
legend set forth in Exhibit 1 hereto, duly executed by the Company and authenticated by the Trustee
as provided in this Indenture. Securities resold to QIBS pursuant to Rule 144A under the
Securities Act (“Rule 144A”) may be issued in the form of one or more global securities in
definitive, fully registered form (collectively, the “Rule 144A Global Security”) and Securities
initially resold pursuant to Regulation S may be issued initially in the form of one or more
temporary global securities in definitive, fully registered form (collectively, the “Temporary
Regulation S Global Security”), in each case, without interest coupons and with the global
securities legend and, if required, the restricted securities legend set forth in Exhibit 1 hereto.
Beneficial ownership interests in a Temporary Regulation S Global Security will not be
exchangeable for interests in the Rule 144A Global Security, a permanent global security (the
“Permanent Regulation S Global Security”), or any other Security without a legend containing
restrictions on transfer of such Security prior to the expiration of the Distribution Compliance
Period and then only upon certification in form reasonably satisfactory to the Trustee that
beneficial ownership interests in such Temporary Regulation S Global Security are owned either by
non-U.S. persons or U.S. persons who purchased such interests in a transaction that did not require
registration under the Securities Act. The Rule 144A Global Security, the Temporary Regulation S
Global Security and the Permanent Regulation S Global Security are collectively referred to herein
as “Global Securities”. The aggregate principal amount of the Global
Securities may from time to time be increased or decreased by adjustments made on the records
of the Trustee and the Depositary or its nominee as hereinafter provided.

 

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(b) Book-Entry Provisions. This Section 2.1(b) shall apply only to a Global Security
deposited with or on behalf of the Depositary.

Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under
the Indenture with respect to any Global Security held on their behalf by the Depositary or by the
Trustee as the custodian of the Depositary or under such Global Security, and the Company, the
Trustee and any agent of the Company or the Trustee shall be entitled to treat the Depositary as
the absolute owner of such Global Security for all purposes whatsoever. Notwithstanding the
foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the
Trustee from giving effect to any written certification, proxy or other authorization furnished by
the Depositary or impair, as between the Depositary and its Agent Members, the operation of
customary practices of such Depositary governing the exercise of the rights of a holder of a
beneficial interest in any Global Security.

(c) Certificated Securities. Except as provided in this Section 2.1 or Section 2.3 or 2.4,
owners of beneficial interests in Global Securities shall not be entitled to receive physical
delivery of Definitive Securities.

2.2 Authentication. The Trustee shall authenticate and deliver on the Issue Date, an
aggregate principal amount of $20 million of 15% Senior Subordinated Notes Due 2012 upon a written
order of the Company signed by two Officers or by an Officer and either an Assistant Treasurer or
an Assistant Secretary of the Company. Such order shall specify the amount of the Securities to be
authenticated and the date on which the Securities are to be authenticated.

2.3 Transfer and Exchange. (a) Transfer and Exchange of Definitive Securities. When
Definitive Securities are presented to the Registrar or a co-registrar with a request

(x) to register the transfer of such Definitive Securities; or

(y) to exchange such Definitive Securities for an equal principal amount of Definitive
Securities of other authorized denominations,

the Registrar or co-registrar shall register the transfer or make the exchange as requested if its
reasonable requirements for such transaction are met; provided, however, that the Definitive
Securities surrendered for transfer or exchange

(i) shall be duly endorsed or accompanied by a written instrument of transfer in form
reasonably satisfactory to the Company and the Registrar or co-registrar, duly executed by
the Holder thereof or its attorney duly authorized in writing; and

 

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(ii) if such Definitive Securities are required to bear a restricted securities legend,
they are being transferred or exchanged pursuant to an effective registration statement
under the Securities Act or pursuant to clause (A), (B) or (C)
below, and are accompanied by the following additional information and documents, as
applicable:

(A) if such Definitive Securities are being delivered to the Registrar
by a Holder for registration in the name of such Holder, without transfer, a
certification from such Holder to that effect; or

(B) if such Definitive Securities are being transferred to the Company,
a certification to that effect; or

(C) if such Definitive Securities are being transferred (x) pursuant to
an exemption from registration in accordance with Rule 144A, Regulation S or
Rule 144 under the Securities Act; or (y) in reliance upon another exemption
from the requirements of the Securities Act, (i) a certification to that
effect (in the form set forth on the reverse of the Security) and (ii) if
the Company so requests, an opinion of counsel or other evidence reasonably
satisfactory to it as to the compliance with the restrictions set forth in
the legend set forth in Section 2.3(e)(i).

(b) Restrictions on Transfer of a Definitive Security for a Beneficial Interest in a Global
Security. A Definitive Security may not be exchanged for a beneficial interest in a Rule 144A
Global Security or a Permanent Regulation S Global Security except upon satisfaction of the
requirements set forth below. Upon receipt by the Trustee of a Definitive Security, duly endorsed
or accompanied by appropriate instruments of transfer, in form satisfactory to the Trustee,
together with

(i) certification, in the form set forth on the reverse of the Security, that such
Definitive Security is either (A) being transferred to a QIB in accordance with Rule 144A or
(B) is being transferred after expiration of the Distribution Compliance Period by a Person
who initially purchased such Security in reliance on Regulation S to a buyer who elects to
hold its interest in such Security in the form of a beneficial interest in the Permanent
Regulation S Global Security; and

(ii) written instructions directing the Trustee to make, or to direct the Securities
Custodian to make, an adjustment on its books and records with respect to such Rule 144A
Global Security (in the case of a transfer pursuant to clause (b)(i)(A)) or Permanent
Regulation S Security (in the case of a transfer pursuant to clause (b)(i)(B)) to reflect an
increase in the aggregate principal amount of the Securities represented by the Rule 144A
Global Security or Permanent Regulation S Global Security, as applicable, such instructions
to contain information regarding the Depository account to be credited with such increase,

 

95

 

then the Trustee shall cancel such Definitive Security and cause, or direct the Securities
Custodian to cause, in accordance with the standing instructions and procedures existing between
the Depositary and the Securities Custodian, the aggregate principal amount of Securities
represented by the Rule 144A Global Security or Permanent Regulation S Global Security, as
applicable, to be increased by the aggregate principal amount of the Definitive Security to be
exchanged and shall credit or cause to be credited to the account of the Person specified in such
instructions a beneficial interest in the Rule 144A Global Security or Permanent Regulation S
Global Security, as applicable, equal to the principal amount of the Definitive Security so
canceled. If no Rule 144A Global Securities or Permanent Regulation S Global Securities, as
applicable, are then outstanding, the Company shall issue and the Trustee shall authenticate, upon
written order of the Company in the form of an Officers’ Certificate, a new Rule 144A Global
Security or Permanent Regulation S Global Security, as applicable, in the appropriate principal
amount.

(c) Transfer and Exchange of Global Securities.

(i) The transfer and exchange of Global Securities or beneficial interests therein
shall be effected through the Depositary, in accordance with the Indenture (including
applicable restrictions on transfer set forth herein, if any) and the procedures of the
Depository therefor. A transferor of a beneficial interest in a Global Security shall
deliver to the Registrar a written order given in accordance with the Depository’s
procedures containing information regarding the participant account of the Depository to be
credited with a beneficial interest in the Global Security. The Registrar shall, in
accordance with such instructions, instruct the Depositary to credit to the account of the
Person specified in such instructions a beneficial interest in the Global Security and to
debit the account of the Person making the transfer the beneficial interest in the Global
Security being transferred.

(ii) If the proposed transfer is a transfer of a beneficial interest in one Global
Security to a beneficial interest in another Global Security, the Registrar shall reflect on
its books and records the date and an increase in the principal amount of the Global
Security to which such interest is being transferred in an amount equal to the principal
amount of the interest to be so transferred, and the Registrar shall reflect on its books
and records the date and a corresponding decrease in the principal amount of the Global
Security from which such interest is being transferred.

(iii) Notwithstanding any other provisions of this Appendix (other than the provisions
set forth in Section 2.4), a Global Security may not be transferred as a whole except by the
Depositary to a nominee of the Depositary or by a nominee of the Depositary to the
Depositary or another nominee of the Depositary or by the Depositary or any such nominee to
a successor Depositary or a nominee of such successor Depositary.

(iv) In the event that a Global Security is exchanged for Definitive Securities
pursuant to Section 2.4 of this Appendix, such Securities may be exchanged only in
accordance with such procedures as are substantially consistent with the provisions of this
Section 2.3 (including the certification requirements set forth on the reverse of the
Securities intended to ensure that such transfers comply with Rule 144A or Regulation S, as
the case may be) and such other procedures as may from time to time be adopted by the
Company.

 

96

 

(d) Restrictions on Transfer of Temporary Regulation S Global Securities. During the
Distribution Compliance Period, beneficial ownership interests in Temporary Regulation S Global
Securities may only be sold, pledged or transferred through Euroclear or Clearstream in accordance
with the Applicable Procedures and only (i) to the Company, (ii) so long as such Security is
eligible for resale pursuant to Rule 144A, to a Person whom the selling holder reasonably believes
is a QIB that purchases for its own account or for the account of a QIB to whom notice is given
that the resale, pledge or transfer is being made in reliance on Rule 144A, (iii) in an offshore
transaction in accordance with Regulation S, (iv) pursuant to an exemption from registration under
the Securities Act provided by Rule 144 (if applicable) under the Securities Act or (v) pursuant to
an effective registration statement under the Securities Act, in each case in accordance with any
applicable securities laws of any state of the United States.

(e) Legend.

(i) Except as permitted by paragraph (ii), each Transfer Restricted Security (and all
Securities issued in exchange therefor or in substitution thereof) shall bear a legend in
substantially the following form:

THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM
REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE “SECURITIES ACT”), AND THIS
SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR
AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE
SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT
PROVIDED BY RULE 144A THEREUNDER.

THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY
BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) IN THE UNITED STATES TO A PERSON
WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (II) INSIDE THE
UNITED STATES TO AN INSTITUTIONAL ACCREDITED INVESTOR (AS DEFINED IN RULE 501(A)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT) THAT, PRIOR TO SUCH TRANSFER, FURNISHES TO THE TRUSTEE A SIGNED
LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER
OF THE SECURITIES, (III) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH
RULE 904 UNDER THE SECURITIES ACT, (IV) PURSUANT TO EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (V) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (V) IN ACCORDANCE
WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND
EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SECURITY FROM IT OF THE RESALE
RESTRICTIONS REFERRED TO IN (A) ABOVE.

 

97

 

(ii) Upon any sale or transfer of a Transfer Restricted Security (including any
Transfer Restricted Security represented by a Global Security) pursuant to Rule 144 under
the Securities Act, the Registrar shall permit the transferee thereof to exchange such
Transfer Restricted Security for a certificated Security that does not bear the legend set
forth above and rescind any such restriction on the transfer of such Transfer Restricted
Security, if the transferor thereof certifies in writing to the Registrar that such sale or
transfer was made in reliance on Rule 144 (such certification to be in the form set forth on
the reverse of the Security).

(iii) Each Security certificate shall bear a transfer restriction legend in
substantially the following form:

IN ADDITION TO [THE RESTRICTIONS SET FORTH ABOVE AND] ANY OTHER RESTRICTIONS CONTAINED
IN THE INDENTURE DATED AS OF JUNE [                    ], 2009 (THE “INDENTURE”), AMONG THE COMPANY, AS
ISSUER OF THIS SECURITY, THE SUBSIDIARY GUARANTORS AND DEUTSCHE BANK TRUST COMPANY AMERICAS,
AS TRUSTEE, THIS SECURITY IS SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AS FURTHER SET
FORTH IN SECTION 2.06(b) OF THE INDENTURE. A COPY OF THE INDENTURE MAY BE OBTAINED FROM THE
COMPANY BY WRITING TO THE COMPANY AT THE ADDRESS SPECIFIED IN THIS SECURITY.

(f) Cancellation or Adjustment of Global Security. At such time as all beneficial interests
in a Global Security have either been exchanged for Definitive Securities, redeemed, purchased or
canceled, such Global Security shall be returned to the Depositary for cancellation or retained and
canceled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a
Global Security is exchanged for certificated Securities, redeemed, purchased or canceled, the
principal amount of Securities represented by such Global Security shall be reduced and an
adjustment shall be made on the books and records of the Trustee (if it is then the Securities
Custodian for such Global Security) with respect to such Global Security, by the Trustee or the
Securities Custodian, to reflect such reduction.

(c) Obligations with Respect to Transfers and Exchanges of Securities.

(i) To permit registrations of transfers and exchanges, the Company shall execute and
the Trustee shall authenticate Definitive Securities and Global Securities at the
Registrar’s or co-registrar’s request.

(ii) No service charge shall be made for any registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any transfer tax, assessments,
or similar governmental charge payable in connection therewith (other than any such transfer
taxes, assessments or similar governmental charge payable upon exchange or transfer pursuant
to Sections 3.06, 4.06, 4.09 and 9.05 of the Indenture).

 

98

 

(iii) The Registrar or co-registrar shall not be required to register the transfer of
or exchange of (a) any Definitive Security selected for redemption in whole or
in part pursuant to Article 3 of the Indenture, except the unredeemed portion of any
Definitive Security being redeemed in part, or (b) any Security for a period beginning 15
calendar days before the mailing of a notice of an offer to repurchase or redeem Securities
or 15 calendar days before an interest payment date.

(iv) Prior to the due presentation for registration of transfer of any Security, the
Company, the Trustee, the Paying Agent, the Registrar or any co-registrar may deem and treat
the person in whose name a Security is registered as the absolute owner of such Security for
the purpose of receiving payment of principal of and interest on such Security and for all
other purposes whatsoever, whether or not such Security is overdue, and none of the Company,
the Trustee, the Paying Agent, the Registrar or any co-registrar shall be affected by notice
to the contrary.

(v) All Securities issued upon any transfer or exchange pursuant to the terms of the
Indenture shall evidence the same debt and shall be entitled to the same benefits under the
Indenture as the Securities surrendered upon such transfer or exchange.

(h) No Obligation of the Trustee.

(i) The Trustee shall have no responsibility or obligation to any beneficial owner of a
Global Security, a member of, or a participant in the Depositary or other Person with
respect to the accuracy of the records of the Depositary or its nominee or of any
participant or member thereof, with respect to any ownership interest in the Securities or
with respect to the delivery to any participant, member, beneficial owner or other Person
(other than the Depositary) of any notice (including any notice of redemption) or the
payment of any amount, under or with respect to such Securities. All notices and
communications to be given to the Holders and all payments to be made to Holders under the
Securities shall be given or made only to or upon the order of the registered Holders (which
shall be the Depositary or its nominee in the case of a Global Security). The rights of
beneficial owners in any Global Security shall be exercised only through the Depositary
subject to the applicable rules and procedures of the Depositary. The Trustee may
conclusively rely and shall be fully protected in conclusively relying upon information
furnished by the Depositary with respect to its members, participants and any beneficial
owners.

(ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as
to compliance with any restrictions on transfer imposed under the Indenture, including
Section 2.06(c) thereof, or under applicable law with respect to any transfer of any
interest in any Security (including any transfers between or among Depositary participants,
members or beneficial owners in any Global Security) other than to require delivery of such
certificates and other documentation or evidence as are expressly required by, and to do so
if and when expressly required by, the terms of the Indenture, and to examine the same to
determine substantial compliance as to form with the express requirements hereof.

 

99

 

2.4 Certificated Securities. (a) A Global Security deposited with the Depositary or with the
Trustee as Securities Custodian for the Depositary pursuant to Section 2.1 shall be transferred
to the beneficial owners thereof in the form of Definitive Securities in an aggregate
principal amount equal to the principal amount of such Global Security, in exchange for such Global
Security, only if such transfer complies with Section 2.3 hereof and (i) the Depositary notifies
the Company that it is unwilling or unable to continue as Depositary for such Global Security or if
at any time such Depositary ceases to be a “clearing agency” registered under the Exchange Act and,
in either case, a successor Depositary is not appointed by the Company within 90 days of such
notice, or (ii) an Event of Default has occurred and is continuing or (iii) the Company, in its
sole discretion, notifies the Trustee in writing that it elects to cause the issuance of Definitive
Securities under the Indenture.

(b) Any Global Security that is transferable to the beneficial owners thereof pursuant to this
Section shall be surrendered by the Depositary to the Trustee located at its principal corporate
trust office in the Borough of Manhattan, The City of New York, to be so transferred, in whole or
from time to time in part, without charge, and the Trustee shall authenticate and deliver, upon
such transfer of each portion of such Global Security, an equal aggregate principal amount of
Definitive Securities of authorized denominations. Any portion of a Global Security transferred
pursuant to this Section shall be executed, authenticated and delivered only in denominations of
$1,000 principal amount and any integral multiple thereof and registered in such names as the
Depositary shall direct. Any Definitive Security delivered in exchange for an interest in the
Transfer Restricted Security shall, except as otherwise provided by Section 2.3(e) hereof, bear the
restricted securities legend set forth in Exhibit 1 hereto.

(c) Subject to the provisions of Section 2.4(b) hereof, the registered Holder of a Global
Security shall be entitled to grant proxies and otherwise authorize any Person, including Agent
Members and Persons that may hold interests through Agent Members, to take any action which a
Holder is entitled to take under the Indenture or the Securities.

(d) In the event of the occurrence of one of the events specified in Section 2.4(a) hereof,
the Company shall promptly make available to the Trustee a reasonable supply of Definitive
Securities in definitive, fully registered form without interest coupons.

 

100

 

EXHIBIT 1

to

RULE 144A/REGULATION S APPENDIX

[FORM OF FACE OF SECURITY]

[Global Securities Legend]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

[Restricted Securities Legend]

THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM
REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933(THE “SECURITIES ACT”), AND THIS
SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR
AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE
SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT
PROVIDED BY RULE 144A THEREUNDER.

THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY
BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) IN THE UNITED STATES TO A PERSON WHOM
THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (II) INSIDE THE UNITED
STATES TO AN INSTITUTIONAL ACCREDITED INVESTOR (AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER
THE SECURITIES ACT) THAT, PRIOR TO SUCH TRANSFER, FURNISHES TO THE TRUSTEE A SIGNED LETTER
CONTAINING CERTAIN
REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER OF THE SECURITIES,
(III) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE
SECURITIES ACT, (IV) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED
BY RULE 144 THEREUNDER (IF AVAILABLE) OR (V) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (V) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS
REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO
IN (A) ABOVE.

 

101

 

[Temporary Regulation S Global Security Legend]

BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL SECURITY WILL NOT BE
EXCHANGEABLE FOR INTERESTS IN THE RULE 144A GLOBAL SECURITY OR THE PERMANENT REGULATION S GLOBAL
SECURITY OR ANY OTHER SECURITY REPRESENTING AN INTEREST IN THE SECURITIES REPRESENTED HEREBY WHICH
DO NOT CONTAIN A LEGEND CONTAINING RESTRICTIONS ON TRANSFER, UNTIL THE EXPIRATION OF THE “40-DAY
DISTRIBUTION COMPLIANCE PERIOD” (WITHIN THE MEANING OF RULE 903(c)(3) OF REGULATION S UNDER THE
SECURITIES ACT) AND THEN ONLY UPON CERTIFICATION IN FORM REASONABLY SATISFACTORY TO THE TRUSTEE
THAT SUCH BENEFICIAL INTERESTS ARE OWNED EITHER BY NON-U.S. PERSONS OR U.S. PERSONS WHO PURCHASED
SUCH INTERESTS IN A TRANSACTION THAT DID NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT. DURING
SUCH 40-DAY DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY
REGULATION S GLOBAL SECURITY MAY ONLY BE SOLD, PLEDGED OR TRANSFERRED THROUGH EUROCLEAR BANK
S.A./N.A., AS OPERATOR OF THE EUROCLEAR SYSTEM OR CLEARSTREAM BANKING, SOCIETE ANONYME AND ONLY
(I) TO THE COMPANY, (II) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A
QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN AN OFFSHORE
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (III) INSIDE THE UNITED STATES TO AN
INSTITUTIONAL ACCREDITED INVESTOR THAT, PRIOR TO SUCH TRANSFER, FURNISHES TO THE TRUSTEE A SIGNED
LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER
OF THE SECURITIES, (IV) OUTSIDE THE UNITED STATES IN A TRANSACTION IN ACCORDANCE WITH RULE 904
UNDER THE SECURITIES ACT, (V) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (VI) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (VI) IN ACCORDANCE WITH ANY
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. HOLDERS OF INTERESTS IN THIS
TEMPORARY REGULATION S GLOBAL SECURITY WILL NOTIFY ANY PURCHASER OF THIS SECURITY OF THE RESALE
RESTRICTIONS REFERRED TO ABOVE, IF THEN APPLICABLE.

 

102

 

[Transfer Restriction Legend]

IN ADDITION TO [THE RESTRICTIONS SET FORTH ABOVE AND] ANY OTHER RESTRICTIONS CONTAINED IN THE
INDENTURE DATED AS OF JUNE [                    ], 2009 (THE “INDENTURE”), AMONG THE COMPANY, AS ISSUER OF THIS
SECURITY, THE SUBSIDIARY GUARANTORS AND DEUTSCHE BANK TRUST COMPANY AMERICAS, AS TRUSTEE, THIS
SECURITY IS SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AS FURTHER SET FORTH IN SECTION 2.06(b) OF
THE INDENTURE. A COPY OF THE INDENTURE MAY BE OBTAINED FROM THE COMPANY BY WRITING TO THE COMPANY
AT THE ADDRESS SPECIFIED IN THIS SECURITY.

 

103

 

	 	 	 	 	 
	No.                     

	 	 	 	CUSIP No.                     
	 

	 	$                    	 	 

15% Senior Subordinated Note Due 2012

Associated Materials, LLC, a Delaware limited liability company, promises to pay to
            
                    
, or registered assigns, the principal sum of

                                                                                 Dollar
s on July 15, 2012.

Interest Payment Dates: January 15, April 15, July 15 and October 15, commencing July 15,
2009.

Record Dates: January 1, April 1, July 1 and October 1.

Additional provisions of this Security are set forth on the other side of this Security.

	 	 	 	 	 
	 	ASSOCIATED MATERIALS, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

Dated:

 

104

 

TRUSTEE’S CERTIFICATE OF
AUTHENTICATION

DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Trustee, certifies

that this is one of the

Securities referred to

in the Indenture.

by

                                                            

Authorized Signatory

 

105

 

[FORM OF REVERSE SIDE OF SECURITY]

15% Senior Subordinated Note Due 2012

1. Interest

Associated Materials, LLC, a Delaware limited liability company (such company, and its
successors and assigns under the Indenture hereinafter referred to, being herein called the
“Company”), promises to pay interest on the principal amount of this Security at the rate per annum
shown above. The Company will pay interest quarterly in arrears on January 15, April 15, July 15
and October 15 of each year, commencing July 15, 2009. Interest on the Securities will accrue from
the most recent date to which interest has been paid or, if no interest has been paid, from June
[ ] 2009. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day
months.

2. Method of Payment

The Company will pay interest on the Securities (except defaulted interest) to the Persons who
are registered holders of Securities at the close of business on the January 1, April 1, July 1 or
October 1 next preceding the interest payment date even if Securities are canceled after the record
date and on or before the interest payment date. Holders must surrender Securities to a Paying
Agent to collect principal payments. The Company will pay principal and interest in money of the
United States that at the time of payment is legal tender for payment of public and private debts.
Payments in respect of the Securities represented by a Global Security (including principal,
premium, if any, and interest) will be made by wire transfer of immediately available funds to the
accounts specified by The Depository Trust Company. The Company will make all payments in respect
of a certificated Security (including principal, premium, if any, and interest) by mailing a check
to the registered address of each Holder thereof; provided, however, that payments on a
certificated Security will be made by wire transfer to a U.S. dollar account maintained by the
payee with a bank in the United States if such Holder elects payment by wire transfer by giving
written notice to the Trustee or the Paying Agent to such effect designating such account no later
than 30 days immediately preceding the first relevant due date for payment by wire transfer (or
such other date as the Trustee may accept in its discretion).

3. Paying Agent and Registrar

Initially, Deutsche Bank Trust Company Americas, a New York banking corporation (the
“Trustee”), will act as Paying Agent and Registrar. The Company may appoint and change any Paying
Agent, Registrar or co-registrar without notice. The Company or any of its domestic Wholly Owned
Subsidiaries may act as Paying Agent, Registrar or coregistrar.

4. Indenture

The Company issued the Securities under an Indenture dated as of June [ ], 2009
(“Indenture”), among the Company, the Subsidiary Guarantors and the Trustee. The terms of the
Securities include those stated in the Indenture and those made part of the Indenture by reference
to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) as in effect on
the date of the Indenture (the “TIA”). Terms defined in the Indenture and not defined herein
have the meanings ascribed thereto in the Indenture. The Securities are subject to all such terms,
and Securityholders are referred to the Indenture and the TIA for a statement of those terms.

 

106

 

The Securities are general unsecured obligations of the Company. The Indenture contains
covenants that limit the ability of the Company and its subsidiaries to incur additional
indebtedness; pay dividends or distributions on, or redeem or repurchase capital stock; make
investments; issue or sell capital stock of subsidiaries; engage in transactions with affiliates;
transfer or sell assets; guarantee indebtedness; restrict dividends or other payments of
subsidiaries; and consolidate, merge or transfer all or substantially all of its assets and the
assets of its subsidiaries. These covenants are subject to important exceptions and
qualifications.

5. Optional Redemption; Redemption Upon a Change of Control

(a) The Company shall be entitled at its option to redeem all or a portion of the Securities
upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed in
percentages of principal amount on the redemption date), plus accrued interest to the redemption
date (subject to the right of Holders of record on the relevant record date to receive interest due
on the relevant interest payment date), if redeemed during the periods set forth below:

	 	 	 	 	 
	 	 	Redemption	 
	Period	 	Price	 
	June [     ], 2009 through and including December 21, 2009
	 	 	101.000	%
	December 22, 2009 and thereafter
	 	 	100.000	%

6. Notice of Redemption

Notice of redemption will be mailed at least 30 days but not more than 60 days before the
redemption date to each Holder of Securities to be redeemed at its registered address. Securities
in denominations larger than $1,000 principal amount may be redeemed in part but only in whole
multiples of $1,000. If money sufficient to pay the redemption price of and accrued interest on
all Securities (or portions thereof) to be redeemed on the redemption date is deposited with the
Paying Agent on or before the redemption date and certain other conditions are satisfied, on and
after such date interest ceases to accrue on such Securities (or such portions thereof) called for
redemption.

7. Put Provisions

Upon a Change of Control, unless the Company has exercised its right to redeem the Securities
as described under Section 5 hereof, any Holder of Securities will have the right to cause the
Company to repurchase all or any part of the Securities of such Holder at a purchase price equal to
101% of the principal amount of the Securities to be purchased plus accrued and unpaid interest, if
any, to the date of purchase (subject to the right of holders of record on the relevant record date
to receive interest due on the related interest payment date) as provided in, and subject to the
terms of, the Indenture.

 

107

 

Under certain circumstances as set forth in the Indenture, the Company will be required to
offer to purchase Securities with the Net Available Cash from Asset Dispositions.

8. Subordination

The Securities are subordinated to Senior Indebtedness of the Company, as defined in the
Indenture. To the extent provided in the Indenture, Senior Indebtedness of the Company must be
paid before the Securities may be paid. The Company agrees, and each Securityholder by accepting a
Security agrees, to the subordination provisions contained in the Indenture and authorizes the
Trustee to give it effect and appoints the Trustee as attorney-in-fact for such purpose.

9. Guaranty

The payment by the Company of the principal of, and premium and interest on, the Securities is
unconditionally guaranteed on a joint and several senior subordinated basis by each Subsidiary
Guarantor.

10. Denominations; Transfer; Exchange

The Securities are in registered form without coupons in denominations of $1,000 principal
amount and integral multiples of $1,000. A Holder may transfer or exchange Securities in
accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements or transfer documents and to pay any taxes and fees required by law or
permitted by the Indenture. The Registrar need not register the transfer or exchange of any
Securities selected for redemption (except, in the case of a Security to be redeemed in part, the
portion of the Security not to be redeemed) or any Securities for a period of 15 days before the
mailing of a notice of redemption of Securities to be redeemed or 15 days before an interest
payment date.

11. Persons Deemed Owners

The registered Holder of this Security may be treated as the owner of it for all purposes.

12. Unclaimed Money

If money for the payment of principal or interest remains unclaimed for two years, the Trustee
or Paying Agent shall pay the money back to the Company at its written request unless an abandoned
property law designates another Person. After any such payment, Holders entitled to the money must
look only to the Company and not to the Trustee for payment.

13. Discharge and Defeasance

Subject to certain conditions, the Company at any time shall be entitled to terminate some or
all of its obligations under the Securities and the Indenture if the Company deposits with the
Trustee money or U.S. Government Obligations for the payment of principal and interest on the
Securities to redemption or maturity, as the case may be.

 

108

 

14. Amendment, Waiver

Subject to certain exceptions set forth in the Indenture, (i) the Indenture and the Securities
may be amended with the written consent of the Holders of at least a majority in aggregate
principal amount outstanding of the Securities (including consents obtained in connection with a
tender offer for, exchange for or purchase of the Securities) and (ii) any past default or
noncompliance with any provision may be waived with the written consent of the Holders of a
majority in aggregate principal amount outstanding of the Securities. Subject to certain
exceptions set forth in the Indenture, without the consent of any Securityholder, the Company, the
Subsidiary Guarantor and the Trustee shall be entitled to amend the Indenture or the Securities to
cure any ambiguity, omission, defect or inconsistency, or to comply with Article 5 of the
Indenture, or to provide for uncertificated Securities in addition to or in place of certificated
Securities, or to add guarantees with respect to the Securities, including Subsidiary Guaranties,
or to secure the Securities, or to add additional covenants or surrender rights and powers
conferred on the Company or the Subsidiary Guarantor, or to comply with any request of the SEC in
connection with qualifying the Indenture under the Act, or to make any change that does not
adversely affect the rights of any Securityholder.

15. Defaults and Remedies

Under the Indenture, Events of Default include (i) default for 30 days in payment of interest
on the Securities; (ii) default in payment of principal on the Securities at maturity, upon
redemption pursuant to paragraph 5 of the Securities, upon required purchase, upon declaration of
acceleration or otherwise; (iii) the failure by the Company or any Subsidiary Guarantor to comply
with other agreements in the Indenture or the Securities, in certain cases subject to notice and
lapse of time; (iv) certain accelerations (including failure to pay within any grace period after
final maturity) or defaults of other Indebtedness of the Company or any Significant Subsidiary if
the amount accelerated (or so unpaid) exceeds $10 million; (v) certain events of bankruptcy or
insolvency with respect to AMH II, AMH, the Company or any Significant Subsidiary; (vi) certain
judgments or decrees for the payment of money in excess of $10 million; and (vii) certain defaults
with respect to Subsidiary Guaranties. If an Event of Default occurs and is continuing, the
Trustee or the Holders of at least 25% in principal amount of the outstanding Securities may
declare all the Securities to be due and payable. Certain events of bankruptcy or insolvency are
Events of Default which will result in the Securities being due and payable immediately upon the
occurrence of such Events of Default.

Securityholders may not enforce the Indenture or the Securities except as provided in the
Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives
indemnity or security satisfactory to it. Subject to certain limitations, Holders of a majority in
aggregate principal amount of the Securities may direct the Trustee in its exercise of any trust or
power. The Trustee may withhold from Securityholders notice of any continuing Default (except a
Default in payment of principal or interest) if it determines that withholding notice is not
opposed to the interest of the Holders.

 

109

 

16. Trustee Dealings with the Company

Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its
individual or any other capacity, may become the owner or pledgee of Securities and may otherwise
deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise
deal with the Company or its Affiliates with the same rights it would have if it were not Trustee.

17. No Recourse Against Others

No past, present or future director, officer, employee, member, incorporator or stockholder,
as such, of the Company or the Trustee shall not have any liability for any obligations of the
Company under the Securities or the Indenture or for any claim based on, in respect of or by reason
of such obligations or their creation. By accepting a Security, each Securityholder waives and
releases all such liability. The waiver and release are part of the consideration for the issue of
the Securities.

18. Authentication

This Security shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the other side of this
Security.

19. Abbreviations

Customary abbreviations may be used in the name of a Securityholder or an assignee, such as
TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with
rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift
to Minors Act).

20. CUSIP Numbers

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures the Company has caused CUSIP numbers to be printed on the Securities and has directed
the Trustee to use CUSIP numbers in notices of redemption as a convenience to Securityholders. No
representation is made as to the accuracy of such numbers either as printed on the Securities or as
contained in any notice of redemption and reliance may be placed only on the other identification
numbers placed thereon.

21. Governing Law

THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT
THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

110

 

The Company will furnish to any Securityholder upon written request and without charge to the
Securityholder a copy of the Indenture which has in it the text of this Security in larger type.
Requests may be made to:

Associated Materials, LLC

3773 State Road

Cuyahoga Falls, Ohio 44223

Attention: Thomas N. Chieffe

 

111

 

ASSIGNMENT FORM

To assign this Security, fill in the form below:

I or we assign and transfer this Security to

 

(Print or type assignee’s name, address and zip code)

 

(Insert assignee’s soc. sec. or tax I.D. No.)

and irrevocably appoint agent to transfer this Security on the books of the Company. The agent may
substitute another to act for him.

 

Date:         
                
                
                
         Your Signature:      
               
                
               
                 
                

 

Sign exactly as your name appears on the other side of this Security.

In connection with any transfer of any of the Securities evidenced by this certificate occurring
prior to the expiration of the applicable period referred to in Rule 144(d) under the Securities
Act after the later of the date of original issuance of such Securities and the last date, if any,
on which such Securities were owned by the Company or any Affiliate of the Company, the undersigned
confirms that such Securities are being transferred in accordance with its terms.

CHECK ONE BOX BELOW

	 	(1)	— 	in the United States to a “qualified institutional buyer” (as defined in
Rule 144A under the Securities Act of 1933) that purchases for its own account or for
the account of a qualified institutional buyer to whom notice is given that such
transfer is being made in reliance on Rule 144A, in each case pursuant to and in
compliance with Rule 144A under the Securities Act of 1933; or

	 	(2)	— 	inside the United States to an Institutional Accredited Investor (as
defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933) that,
prior to such transfer, furnished to the Trustee a signed letter containing certain
representations and agreements relating to the restrictions on transfer of the
Securities; or

	 	(3)	— 	 outside the United States in an offshore transaction within the meaning of
Regulation S under the Securities Act in compliance with Rule 904 under the Securities
Act of 1933; or

 

112

 

	 	(4)	 	— pursuant to the exemption from registration provided by Rule 144 under the
Securities Act of 1933; or

	 	(5)	 	— pursuant to an effective registration statement under the Securities Act of
1933; or

(6)  — to the Company.

If such transfer is being made pursuant to an offshore transaction in accordance with Rule 904
under the Securities Act, the undersigned further certifies that

(i) the offer of the Securities was not made to a person in the United States;

(ii) either (a) at the time the buy offer was originated, the transferee was outside
the United States or we and any person acting on our behalf reasonably believed that the
transferee was outside the United States, or (b) the transaction was executed in, on or
through the facilities of a designated off-shore securities market and neither we nor any
person acting on our behalf knows that the transaction has been pre-arranged with a buyer in
the United States;

(iii) no directed selling efforts have been made in the United States in contravention
of the requirements of Rule 903 or Rule 904 of Regulation S, as applicable;

(iv) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;

(v) we have advised the transferee of the transfer restrictions applicable to the
Securities; and

(vi) if the circumstances set forth in Rule 904(B) under the Securities Act are
applicable, we have complied with the additional conditions therein, including (if
applicable) sending a confirmation or other notice stating that the Securities may be
offered and sold during the distribution compliance period specified in Rule 903 of
Regulation S; pursuant to registration of the Securities under the Securities Act; or
pursuant to an available exemption from the registration requirements under the Securities
Act.

Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities
evidenced by this certificate in the name of any person other than the registered holder thereof;
provided, however, that if box (2) or (3) is checked, the Trustee shall be entitled to require,
prior to registering any such transfer of the Securities, such legal opinions, certifications and
other information as the Company has reasonably requested to confirm that such transfer is being
made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933, such as the exemption provided by Rule 144 under such
Act.

 

113

 

	 	 	 
	 

	 	 
	 

	 	Signature
	 
	 	 
	Signature Guarantee:
	 	 
	 
	 	 
	 

	 	 
	Signature must be guaranteed

	 	Signature

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Registrar, which requirements include membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined
by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.

 

TO BE COMPLETED BY PURCHASER IF (1) ABOVE IS CHECKED.

The undersigned represents and warrants that it is purchasing this Security for its own
account or an account with respect to which it exercises sole investment discretion and that it and
any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 
	Date: 
	 	 	 	 
	 

	 
	 	 	 
	 

	 	 	 	NOTICE: To be executed by an executive officer

[TO BE ATTACHED TO GLOBAL SECURITIES]

 

114

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY

The following increases or decreases in this Global Security have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Amount of	 	 	Amount of	 	 	Principal amount of	 	 	Signature of	 
	 	 	decrease in	 	 	increase in	 	 	this Global	 	 	authorized	 
	 	 	Principal	 	 	Principal	 	 	Security	 	 	signatory of	 
	 	 	amount of	 	 	amount of	 	 	following such	 	 	Trustee or	 
	Date of	 	this Global	 	 	this Global	 	 	decrease or	 	 	Securities	 
	Exchange	 	Security	 	 	Security	 	 	increase	 	 	Custodian	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

115

 

OPTION OF HOLDER TO ELECT PURCHASE

If you want to elect to have this Security purchased by the Company pursuant to Section 4.06
or 4.09 of the Indenture, check the box:

[     ]

If you want to elect to have only part of this Security purchased by the Company pursuant to
Section 4.06 or 4.09 of the Indenture, state the amount in principal amount: $

	 	 	 	 	 	 	 
	Date:

	 	 	 	Your Signature:	 	 
	 

	 
	 	 	 	 	 
	 

	 	 	 	 	 	(Sign exactly as your name appears on the
other side of this Security.)

	 	 	 
	Signature Guarantee:
	 	 
	 

	 	 
	 

	 	(Signature must be guaranteed)

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Registrar, which requirements include membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined
by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.

 

116

 

EXHIBIT 2

[FORM OF AFFILIATE SUBORDINATION AGREEMENT]

This AFFILIATE SUBORDINATION AGREEMENT, dated                      (this “Affiliate Subordination Agreement”), is
delivered pursuant to that certain Indenture, dated as of the date hereof (as it may be amended,
supplemented or otherwise modified, the “Indenture”; the terms defined therein and not otherwise
defined herein being used herein as therein defined), between Associated Materials, LLC (“Issuer”),
the Subsidiary Guarantors party thereto and Deutsche Bank Trust Company Americas (the “Trustee”).

Pursuant to Section 4.03(d) of the Indenture, the undersigned hereby agree that all
Indebtedness of Issuer or any of its Restricted Subsidiaries issued to and held by the
undersigned, an Affiliate of Issuer, in each case whether incurred prior to or arising after the
date of this Affiliate Subordination Agreement (the “Affiliate Debt”), shall (i) have a stated
maturity and provide for no payment of the principal of or cash interest or premium, if any,
thereof, prior to six months after the Stated Maturity of the Securities, (ii) constitute
“Affiliate Subordinated Indebtedness” (as such term is defined in the Indenture) and (iii) be
subject to the terms of this Affiliate Subordination Agreement.

1. Subordination to Obligations. Anything in any agreement pursuant to which any of
the Affiliate Debt was created or in any instrument evidencing any of the Affiliate Debt to the
contrary notwithstanding, the Affiliate Debt shall be unsecured and subordinate and junior in right
of payment, to the extent and in the manner provided herein, to the payment in full of the
Obligations to the Holders, whether incurred prior to or arising after the date of this Affiliate
Subordination Agreement.

(a) In the event of (i) any insolvency or bankruptcy case or proceeding, or any
receivership, liquidation, reorganization or other similar case or proceeding in connection
therewith, relative to Issuer or any Restricted Subsidiary of Issuer (Issuer and each
Restricted Subsidiary, a “Credit Party”) or to its assets, or (ii) any liquidation,
dissolution or other winding up of any Credit Party, whether voluntary or involuntary and
whether or not involving insolvency or bankruptcy, or (iii) any assignment for the benefit
of creditors or any other marshalling of assets and liabilities of any Credit Party (the
foregoing being a “Proceeding”), then and in any such event the Holders shall be entitled
to receive payment in full of all amounts due or to become due on or in respect of all
Obligations before any of the Affiliate Debt shall be paid, and to that end, subject to any
intercreditor agreement among the Holders and any lenders or holders of indebtedness that
is senior to the Obligations, the Holders shall be entitled to receive, for application to
the payment of the Obligations, any payment or distribution of any kind or character,
whether in cash, property or securities which may be payable or deliverable in respect of
the Affiliate Debt in any such case, proceeding, dissolution, liquidation or other winding
up or event.

 

 

 

(b) In the event and during the continuance of any Event of Default, each
Credit Party agrees that no payment shall be made by any Credit Party on account of
any of the Affiliate Debt (such a Credit Party, an “Obligor Credit Party”) until the
Obligations shall be paid in full, provided that the foregoing shall not prevent the
issuance of additional Affiliate Debt in payment of interest on outstanding Affiliate Debt.

(c) In the event and during the continuance of any event of default (or any event
which with the giving of notice or lapse of time would be an event of default) with respect
to any Affiliate Debt, (i) the Holders shall be entitled to receive payment in full of all
amounts due or to become due on or in respect of all Obligations before the holders of any
of the Affiliate Debt are entitled to receive any payment by the defaulting Credit Party (a
“Defaulting Credit Party”) on account of the principal of or premium, if any, or interest
on any of the Affiliate Debt, and (ii) any obligee of Affiliate Debt party hereto (each, an
“Obligee”) agrees that in any such event it will not, without the prior written consent of
the Holders of a majority in principal amount of the Securities (the “Required Holders”),
take any action to accelerate or declare to be due and payable any Affiliate Debt or to
enforce any remedies against the Defaulting Credit Party prior to payment in full of all
Obligations. Notwithstanding the restriction in the foregoing clause (ii), (i) each Obligee
may file proofs of claim in respect of the Affiliate Debt against any Credit Party and
exercise all voting rights in respect of the Affiliate Debt in any Proceeding involving any
Credit Party, (ii) each Obligee may accelerate the Affiliate Debt if the Obligations shall
have been accelerated and (iii) to the extent necessary (but only to such extent) that the
commencement of a legal action may be required in order to toll the running of any
applicable statute of limitation that might otherwise prevent the Obligee from making
claims in respect of the Affiliate Debt it otherwise could, there shall be no restriction
on the Obligee taking any of the actions referred to in such clause (ii), but in such an
event the Obligee shall give prior written notice to the Holders and any cash, securities
or other amounts received by the Obligee in connection with any such legal action shall be
subject to the terms and conditions of this Agreement).

2. Payment to the Holders of Certain Amounts Received by the Obligee. In the event
that, notwithstanding the foregoing, any distribution of assets by the Defaulting Credit Party or
payment by or on behalf of the Defaulting Credit Party of any kind or character, whether in cash,
securities or other property, to which an Obligee would be entitled but for the provisions of
this Affiliate Subordination Agreement, shall be received by an Obligee before all Obligations
are paid in full, such distribution or payment shall be held in trust for the benefit of, and
shall, immediately upon receipt thereof, be paid over or delivered to the Holders for application
to the payment of the Obligations.

 

2

 

3. Prepayment or Amendment of Affiliate Debt. Whether or not any Event of Default
shall exist with respect to any Obligations, an Obligee agrees that without the prior written
consent of the Required Holders, it will not (i) commence any
proceeding against the Obligor Credit Party under any bankruptcy, insolvency or
receivership law; or (ii) take any collateral security for any Affiliate Debt.

4. Authorizations to the Holders. Each Obligee irrevocably authorizes and empowers
(without imposing any obligation on) the Holders to file and prove all claims for the Affiliate
Debt if the Obligees shall not have filed or proved such claims at least 30 days prior to the
applicable deadline and upon at least 10 days’ prior notice to the Obligees, take all such other
action, in the name of such Obligee, as may be necessary or appropriate for the enforcement of this
Affiliate Subordination Agreement and has not been taken by such Obligees; and (b) agrees to
execute and deliver to the Holders all such further instruments confirming the above authorization,
and all such powers of attorney, proofs of claim, and other instruments, as may be reasonably
requested by the Holders.

5. Notice. Each Obligee agrees, for the benefit of the Holders, that in the event
that any of the Affiliate Debt is in default in any respect, the Credit Parties which are
parties to such Affiliate Debt will give prompt notice thereof in writing to the Holders.

6. No Waiver. No right of the Holders to enforce subordination as herein provided
shall at any time in any way be prejudiced or impaired by any act or failure to act on the part
of any Obligor Credit Party or by any act or failure to act, in good faith, by any holder of the
Obligations, or by any noncompliance by any Obligor Credit Party with the terms, provisions and
covenants of any of the Affiliate Debt or of any agreement pursuant to which the Affiliate Debt
is issued, regardless of any knowledge thereof which the Holders may have or be otherwise
charged with. The Holders may at any time or from to time and in their absolute discretion
consistent with the terms of the Indenture, change the manner, place or terms of payment, change
or extend the time of payment of, or renew or alter, any such Obligations, or amend or
supplement any instrument pursuant to which any such Obligations are issued or by which they may
be secured, or release any security therefor, or exercise or refrain from exercising any other
of their rights under the Obligations including, without limitation, the waiver of default
thereunder, all without notice to or assent from the Obligees and without affecting the
obligations of the Obligor Credit Parties under this Affiliate Subordination Agreement.

7. No Subrogation. No Obligee shall be subrogated to the rights of the Holders to
receive distribution of assets of any Obligor Credit Party, or payments by or on behalf of any
Obligor Credit Party, made on the Obligations, until all the Obligations shall have been paid in
full.

 

3

 

8. Benefit of Affiliate Subordination Agreement. This Agreement is intended solely to
define the relative rights of the Holders, the Obligor Credit Parties and the Obligees and their
respective successors and assigns. Nothing contained in this Affiliate Subordination Agreement is
intended to or shall impair, as between any Obligor Credit Party and any Obligee, the obligations
of the Obligor Credit Parties, which are absolute and unconditional, to pay to the Obligees the
Affiliate Debt as and when the same shall become due and payable in accordance with the terms
thereof, or is intended
to or shall affect the relative rights of the Obligees and creditors of the Obligor Credit Parties,
as permitted under the Indenture, other than the Holders. In particular, for so long as no Default
or Event of Default or any default or event of default under the Affiliate Debt has occurred and is
continuing the Obligees shall have a right to receive, and the Obligor Credit Parties shall have a
right to make, scheduled payments on Affiliate Debt.

9. Further Assurances. Each Obligee, at its own cost, will take all such further
actions, including entering into additional agreements, giving notices to holders of Affiliate Debt
and taking such further action as the Holders may reasonably request in order to more fully carry
out the intent and purpose of this Affiliate Subordination Agreement.

10. Additional Obligees. Each future Restricted Subsidiary of Issuer and each other
future Affiliate that, in either case, is the obligee with respect to Affiliate Debt shall be
deemed to become an Obligee hereunder bound by this Agreement. Issuer shall cause all of its future
Restricted Subsidiaries and each of its other Affiliates that is the obligee with respect to
Affiliate Debt to execute simultaneously with and as a precondition to such Person becoming a
Restricted Subsidiary or any other Affiliate that is the obligee with respect to Affiliate Debt, as
the case may be, a counterpart signature page to this Agreement and otherwise acknowledge its
agreement to be bound by the provisions hereof; provided that the failure of a Restricted
Subsidiary or any other Affiliate to execute this Agreement shall not in any way reduce such
Person’s obligations hereunder.

11. Amendment Termination and Assignment. This Affiliate Subordination Agreement may
not be amended, modified or terminated without the prior written consent of the Holders. The
Holders may assign any of the Obligations or grant participations therein from time to time, and
any such assignee or holder of a participation interest shall be entitled to all of the rights of
the Holders hereunder with respect to the Obligations so assigned or as to which a participation
interest has been granted. In case of any assignment of any Affiliate Debt, the Obligee thereunder
shall ensure that the assignee becomes a party of this Agreement.

12. Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF.

[Remainder of page left intentionally blank]

 

4

 

SCHEDULE 2.2

INFORMATION RELATING TO PURCHASERS

	 	 	 	 	 
	 	 	Purchase	 
	 	 	Price/Principal	 
	Purchaser Name and Address	 	amount of Notes	 
	 
	 	 	 	 
	Apollo Investment Corporation
	 	$	12,000,000	 
	c/o Apollo Investment Management, L.P.
	 	 	 	 
	9 West 57th Street
	 	 	 	 
	41st Floor
	 	 	 	 
	New York, NY 10019
	 	 	 	 
	Telecopy: (212) 515-3441
	 	 	 	 
	Attention: Richard Peteka
	 	 	 	 
	 
	 	 	 	 
	The Northwestern Mutual Life Insurance Company
	 	$	4,000,000	 
	 
	 	 	 	 
	For notices:
	 	 	 	 
	 
	 	 	 	 
	720 East Wisconsin Avenue
	 	 	 	 
	Milwaukee, WI 53202
	 	 	 	 
	Facsimile: (414) 665-7124
	 	 	 	 
	Attention: Christian Mitchell
	 	 	 	 
	 
	 	 	 	 
	For delivery of Notes:
	 	 	 	 
	 
	 	 	 	 
	720 East Wisconsin Avenue
	 	 	 	 
	Milwaukee, WI 53202
	 	 	 	 
	Attention: Abim Kolawole
	 	 	 	 
	 
	 	 	 	 
	Goldman, Sachs & Co.
	 	$	4,000,000	 
	85 Broad Street
	 	 	 	 
	New York, NY 10004
	 	 	 	 
	Fax: 212-428-3688
	 	 	 	 
	Attention: Andrew D. Beckman
	 	 	 	 

 

 

 

INFORMATION RELATING TO PURCHASERS

Payments to Apollo should be wired as follows:

JPMorgan Chase & Co.

ABA: 021000021

BNF: SSG Portfolio Bks.

A/C#: 900-9-000150

BNF: Apollo Investment Corporation

A/C#: P85967

ATTN: Mike Mooney (718) 242-4239

Ref: AMI Notes

Payments to Northwestern Mutual should be wired as follows:

US Bank

777 East Wisconsin Avenue

Milwaukee, WI 53202

ABA #075000022

For the account of:

NM Private Placement

Account No. 182380324521

with sufficient information to identify the

source of the transfer, the amount of interest,

principal or premium, the series of Notes and the PPN

Payments to Goldman should be wired as follows:

JPMorgan Chase Bank

A/C Goldman Sachs & Co.

A/C 930-1-011483

ABA# 0210-0002-1

 

 

 

SCHEDULE 4.2

DUE AUTHORIZATION; NON-CONTRAVENTION

None.

 

 

 

SCHEDULE 4.8

SUBSIDIARIES

	 	 	 
	Name	 	Ownership
	Alside, Inc.
	 	100% owned by Associated Materials, LLC
	Gentek Holdings, LLC
	 	100% owned by Associated Materials, LLC
	Gentek Building Products, Inc.
	 	100% owned by Gentek Holdings, LLC
	Gentek Building Products Limited
	 	100% owned by Gentek Building Products, Inc.

 

 

 

SCHEDULE 4.12

ENVIRONMENTAL WARRANTIES

	1.	 	Environmental conditions at the AmerCord Facility, Lumber City, Georgia, as set forth in the
Limited Environmental Assessment of Associated Materials, Inc. prepared by Environ
International Corp. dated March 2002, provided, however, that to the extent
those conditions result in accrued liabilities greater than $20 million within the next 20
years, those conditions shall not be considered an exception to the representations and
warranties, but shall instead be treated for all purposes of this agreement as if those
conditions did not appear on this schedule.

	2.	 	The Woodbridge (Avenel), New Jersey facility is currently the subject of an investigation
and/or remediation before the New Jersey Department of Environmental Protection (“NJDEP”),
ISRA Case No. E20030110. This case arose by reason of the sale of the real estate and/or the
reorganization of the Landlord of this leased facility. In order to permit the landlord’s
transaction to proceed both Landlord and Gentek U.S. signed a remediation agreement with NJDEP
under which remediation will continue. At the time the case arose the facility was in the
process of a voluntary investigation and/or remediation supervised by NJDEP under a Memorandum
of Agreement by reason of certain conditions identified during pre-sale due diligence. Of
those, the following issues remain open: AOC 18 (Former Solvent Storage Area [B-4]) has
ground water impacts (sometimes referred to as AOC 23 [#2 and #4 Diesel fuel in GWS-6, GWS-7,
and GWS-8]) with concentrations of VOCs and SVOCs, including naphthalene, above the applicable
criteria. A remedial investigation work plan for soils (intended to also resolve the open
groundwater issue in this small area) was submitted to NJDEP in August 2008; NJDEP approval is
pending. AOC 24 (Potential Vapor Intrusion in the vicinity of AOC-22 and AOC-23) is the
subject of the sampling and recommendations submitted to NJDEP in a Supplemental VIRIR/VIRIWP
(Vapor Intrusion Remedial Investigation Report/Vapor Investigation Remedial Investigation Work
Plan) dated August 2008; response from NJDEP to this submission is pending. In early 2009
Gentek submitted revised remediation cost estimates to NJDEP in connection with its renewal of
its self-guaranty remediation funding source (in the amount of $100,000) that the remediation
then still remaining was believed to cost less than $100,000. NJDEP approved the self
guaranty submission.

	3.	 	The same Woodbridge (Avenel), New Jersey facility was the subject of a prior investigation
and remediation before NJDEP for the former Alcan Building Products Facility, Woodbridge, New
Jersey, ISRA Case No. 94359. On February 1, 2000, NJDEP issued a no further action letter and
covenant not to sue, relying in part on the establishment of a 60-year duration Classification
Exception Area (“CEA”) and Wellhead Restriction Area (“WRA”). By reason of this approval
Gentek U.S. has certain responsibilities imposed by law and/or agreement for certain
conditions of trichloroethene and tetrachloroethene known to exist and expected to continue at
the facility in the area of, and for the duration of, the CEA and WRA.

 

 

 

SCHEDULE 4.18

BROKERAGE FEES

None.

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