Document:

Purchase and Sale Agreement

 Exhibit 10.2 
 CONTRACT FOR SALE AND PURCHASE 
 THIS CONTRACT FOR SALE AND PURCHASE is made and entered into
this          day of October, 2006, by and between UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD. (“Seller”), whose address is 1000 Universal Studios Plaza, Orlando, Florida 32819 and
DANIEL CORPORATION, (the “Buyer”), whose mailing address is 623 Maitland Avenue, Altamonte Springs, Florida 32701. 
 WITNESSETH: 
 WHEREAS, Seller is the record fee owner of the following real property (all of which is
hereinafter collectively referred to as the “Property”): 
 A. THE LAND. All of that certain real property located in Orange
County, Florida, as more particularly described on Exhibit “A” attached hereto and incorporated herein by this reference (the “Land”) including, but not limited to, the following: 
 (a) all rights, titles, estates and interests of Seller in and to any and all alleys, strips or gores of land lying in the bed of any
highway, street, road, avenue or alley, open or proposed, in, on, across from, in front of, abutting or adjoining the Land, whether owned or claimed by deed, limitation or otherwise and whether or not located inside or outside the Land; 

(b) all rights, titles, estates and interests of Seller in and to any and all rights to the present or future use of water rights that
pertain to or benefit the Land. 
 B. IMPROVEMENTS. Any and all structures, buildings, fixtures, private utility facilities, and any
other improvements (“Improvements”) on, in, under or attached to the Land. 
 C. OTHER APPURTENANT INTERESTS. Except as
specifically limited, reserved or provided in this Contract, all estates, rights, titles, interests, privileges, liberties, tenements, hereditaments and appurtenances whatsoever, in any way belonging, relating or appertaining to any of the property
hereinabove described, but limited to the extent provided in Section 16 of this Contract. 
 WHEREAS, Seller desires to sell and
convey the Property to Buyer, and Buyer desires to purchase the Property from Seller, on the terms and subject to the conditions hereinafter set forth. 
 NOW, THEREFORE, for and in consideration of the mutual covenants contained herein, the sums of money paid and to be paid hereunder, and for other good and valuable consideration, the parties hereto do covenant,
stipulate and agree as follows: 
 1. Agreement to Sell and Purchase. Seller hereby agrees to sell and convey the Property to
Buyer, and Buyer hereby agrees to purchase and accept the Property from Seller, upon the terms and subject to the conditions set forth in this Contract. 
 2. Time for Acceptance. The terms and conditions set forth in this Contract shall be binding upon Buyer and Seller subject, however, to the satisfaction of the requirements of this Contract and this
Contract executed by Buyer and delivered to Seller on or before October __, 2006. The date of this Contract (“Effective Date”) for purposes of measuring performance hereunder shall be the date when the last of the Buyer or the Seller
executes this Contract. 
 3. Purchase Price and Method of Payment. The purchase price for the Property (“Purchase
Price”) shall be the sum of SIX MILLION THREE HUNDRED NINETY THOUSAND AND NO/100 DOLLARS ($6,390,000.00) and shall be payable in the method prescribed in subsections a and b of this Section 3. 
 a. Earnest Money Deposit. Within three (3) business days of the Effective Date of this Contract, Buyer shall cause the sum of
ONE HUNDRED THOUSAND DOLLARS AND NO/100 ($100,000.00) to be deposited with Gronek & Latham, LLP 

  

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(“Escrow Agent”) as earnest money deposit (the “Initial Earnest Money Deposit”). The Earnest Money Deposit shall be held by Escrow Agent,
in a non-interest bearing account subject to disbursement in accordance with the terms and provisions of this Contract. One a date no later that three (3) business days after the end of the Due Diligence Period, Buyer shall cause the added sum
of another ONE HUNDRED THOUSAND DOLLARS AND NO 00/100 ($100,000.00) to be deposited with Escrow Agent (the “Additional Earnest Money Deposit”) (The Initial Earnest Money Deposit and Additional Earnest Money Deposit are collectively herein
referred to as the “Earnest Money Deposit”). The Earnest Money Deposit shall be credited to and considered as payment of part of the Purchase Price for the Property at the time and upon consummation of the closing of this Contract when the
Escrow Agent shall deliver the same to the Seller, or as otherwise provided herein. 
 b. Balance of Purchase Price. At
Closing Buyer shall pay the Purchase Price by executing a purchase money note (“Note”) in the amount of FOUR MILLION EIGHT HUNDRED EIGHTY-NINE THOUSAND DOLLARS AND NO/100 ($4,890,000) secured by a first mortgage (“Mortgage”) on
the Property and easement rights and developing rights herein contemplated to be conveyed to Buyer which Note and Mortgage will be in the form attached hereto as Exhibits B and C, respectively, and incorporated herein by this
reference. The balance of the Purchase Price, as may be necessary to complete the payment of the Purchase Price after credits, adjustments and prorations, shall be paid to Seller by Buyer at the time of closing hereunder, by cash or other
immediately available funds acceptable to Seller. 
 4. Evidence of Title. Within ten (10) days after the Effective Date,
the Seller shall deliver to Buyer, or its attorneys, a commitment for an owner’s title insurance policy (hereinafter referred to as the “Commitment”) written on Lawyers Title Insurance Company (“Title Company”), evidencing
that Seller is vested with fee simple title to the Property, free and clear of all liens, encumbrances, exceptions or qualifications whatsoever, save and except for (a) those exceptions specified as “Permitted Exceptions” in
Exhibit “D” attached to this Contract and (b) those exceptions to title which are to be discharged by Seller at or before the closing thereof. Legible copies of all exceptions set forth on the Commitment shall be
provided to Buyer with the Commitment. The Commitment shall also evidence that, upon the execution, delivery and recordation of the deed to be delivered pursuant to the provisions of this Contract and the satisfaction of all requirements specified
in Schedule B, Section I of the Commitment, Buyer shall acquire fee simple title to the Property, subject only to the Permitted Exceptions. If the Commitment does not meet the requirements specified above, the Buyer shall notify Seller of that fact
in writing within thirty (30) days after obtaining the Commitment. Such written notice shall specify those liens, encumbrances, exceptions or qualifications to title which are either not Permitted Exceptions or matters to be discharged by
Seller at or before closing (any such liens, encumbrances, exceptions or qualifications being hereinafter referred to as “Title Defects”). 
 Seller shall have until the end of the Due Diligence Period in which to undertake an effort and, in fact, cure or eliminate the Title Defects to the satisfaction of the Title Company in such manner as to permit the
Title Company to endorse the Commitment so as to delete the Title Defects therefrom or notify the Buyer that Seller does not intend to attempt any cure, it being agreed that Seller is not obligated or required to undertake any cure. If Seller shall
in fact cure or eliminate the Title Defects, the closing shall take place on the date specified in this Contract, subject to Buyer’s right to terminate as provided in this Contract. 
 If Seller is unable to cure or eliminate the Title Defects, or Seller determines it will not attempt to cure the Title Defects within the time allowed,
Buyer may elect (as it’s sole remedy) to terminate this Contract within the Due Diligence Period by giving written notice of termination to Seller, or, alternatively, Buyer may elect to close its purchase of the Property and accept the
conveyance of the Property subject to the Title Defects, in which event the closing shall take place on the date specified in this Contract. If, by giving written notice to Seller within the time allowed, Buyer elects to terminate this Contract
because of the existence of uncured Title Defects, Buyer shall have as its sole remedy the return of the Earnest Money Deposit and, upon the disbursement thereof to Buyer, this Contract and all rights and obligations of the parties hereunder shall
terminate and be null and void. If Seller elects not to undertake or attempt to cure a Title Defect and Buyer elects to terminate this Contract pursuant hereto, Seller shall reimburse Buyer for up to Twenty Five Thousand Dollars ($25,000.00) of
‘out of pocket expenses’ related to due diligence or design of Buyer’s proposed use of the Property; provided Buyer submits reasonable support for such expenses and provides Seller a copy of the reports or materials for which the
Buyer seeks reimbursement. 
  

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 5. Survey. Seller has delivered to Buyer a boundary survey of the Property (the
“Survey”) showing the location of all boundaries, encroachments, overlaps, easements and improvements thereon. The Buyer, at its expense, may cause the Survey to be certified by such surveyor to Buyer and shall otherwise be in a form
satisfactory the Title Company to eliminate the standard survey exceptions from the title insurance policy to be issued at closing. Buyer shall notify Seller in writing within forty-five (45) days of the Effective Date, specifying those matters
shown on the Survey which adversely affect the title to the Property (specifically excepting the existence of Permitted Exceptions), and the same shall thereupon be deemed to be Title Defects hereunder and Seller shall be obligated to undertake the
cure thereof within the time and in the manner provided in Paragraph 4 of this Contract. 
 6. Possession and Risk of Loss.
Possession of the Property shall be surrendered by Seller to Buyer at the time of closing hereunder. Prior to the surrender of possession, Seller shall commit or permit no waste, deterioration or destruction of the Property, normal wear and tear
accepted, and shall bear all risk of loss of whatever nature. In the event of loss or damage to more than three percent (3%) of the Property, Buyer shall have the option (for a period of ten (10) days after Buyer receives written notice of
any such loss or damage) of either accepting the Property “as is” together with all proceeds of insurance, if any, payable as a result of such loss or damage, or terminating this Contract and receiving the return of the Earnest Money
Deposit, whereupon this Contract shall be terminated and null and void. Failure of Buyer to timely notify Seller of termination as provided in this Section 6 shall be deemed a waiver of the right to terminate and acceptance of the Property
“as is” together with all proceeds of insurance, if any. If any loss or damage less than three percent (3%) of the Property, then Buyer shall accept the Property “as is” together with all proceeds of insurance, if any,
payable as a result of such loss or damage. 
 7. Representations and Warranties of Seller. Seller represents to Buyer and
hereby warrants the following, which are true and correct as of the Effective Date and shall remain true and correct through and including the Closing Date: 
 a. Organization. Seller is a limited partnership duly organized, validly existing, and in good standing under the laws of the State
in which the Partnership exists and is duly qualified to do business in the State of Florida. 
 b. Authority. Seller
has the requisite power and authority to execute and deliver this Contract and each of the Deed and other documents and instruments to be delivered by Seller at Closing, and to perform each of its obligations as contemplated by this Contract.

 c. Agreement Binding. This Contract is, and each of the Deed and other documents and instruments to be executed and
delivered by Seller at Closing pursuant to the terms of this Contract will be, subject to the express terms and conditions of this Contract, valid and legally binding obligations of Seller, enforceable against Seller, in accordance with their
respective terms. 
 d. Agreement. The execution and delivery of this Contract and the performance of Seller’s
obligations hereunder do not, and will not, constitute a violation of, or result in a breach or default under, any agreements or contracts to which Seller is a party. Except as specifically provided in this Contract, no approval, consents or waivers
by third parties are required in order for Seller to execute and deliver this Contract and consummate the transaction contemplated herein. 
 e. Title to Property. At Closing, Seller shall have good, marketable, and indefeasible title to the Property, free and clear of any and all liens and encumbrances, except only for the Permitted Exceptions.

 f. Compliance with Laws. No uncured or uncorrected notices of violation of governmental laws or regulations relating
to the Property have been issued to, served upon, received by or entered against Seller, nor does Seller have actual knowledge of any violation of governmental laws or regulations relating to the Property which would materially adversely affect the
Property, or Seller’s ability to perform its obligations under this Contract. 
  

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 g. Non-Foreign Status. Seller is not a “foreign person” as defined in
Section 1445(f)(3) of the Internal Revenue Code. 
 h. Assessments. There are no unpaid or outstanding assessments
for public improvements which have been made against or which affect the Land or of any public improvements and, to Seller’s actual knowledge, no such assessments have been planned or ordered to be made. 
 i. Hazardous Substance. To Seller’s knowledge (as hereinafter defined), Seller has not discharged or disposed (except in
compliance with applicable laws and regulations) any Hazardous Substance (as hereinafter defined) on the Land and Seller is unaware of the presence of any Hazardous Substance (as hereinafter defined) on the Land, except as set forth in those certain
Assessment Reports listed on Exhibit D attached hereto and incorporated herein by this reference or performed by Buyer or Seller before Closing. For purposes of this Contract, “Hazardous Substance” means any substance, material, residue,
or waste, including, without limitation, any solid, semi-solid, liquid, or gaseous substance, material, or waste, which is or becomes regulated under any applicable Environmental Law, as amended, including, without limitation, any:
(i) “petroleum” or “petroleum product” as defined at §376.301(26) and (27), Florida Statutes; (ii) asbestos and/or asbestos-containing materials; (iii) polychlorinated biphenyls; (iv) natural gas, natural
gas liquids, liquefied natural gas or synthetic gas usable for fuel or mixture of natural gas and synthetic gas; (v) “hazardous substance” designated pursuant to §311 of the Clean Water Act, or “pollutants” or
“toxic pollutants” listed pursuant to §307 of the Clean Water Act; (vi) “hazardous waste” pursuant to §1004 of the Resource Conservation and Recovery Act or as defined at §403.703(21), Florida Statutes;
(vii) “hazardous substance” as defined pursuant to §101 of the Comprehensive Environmental Response, Compensation, and Liability Act, as defined at §403.703(29) or §376.301(17), Florida Statutes, or as listed by the EPA
at 40 CFR Part 302; (viii) substances subject to the Emergency Planning and Community Right-to-Know Act of 1986; (ix) “solid waste” as defined at §403.703(13), Florida Statutes; (x) “pesticide” pursuant to the
Federal Insecticide, Fungicide, and Rodenticide Act, or pursuant to Chapter 482, Florida Statutes; (xi) materials listed in the United States Department of Transportation Table at 49 CFR §172.101; (xii) “pollutants” or
“pollution” as defined at §403.031(7), Florida Statutes, or §376.031(16) or (17), Florida Statutes, or §376.301(30) or (31), Florida Statutes; (xiii) “contaminant” as defined at §403.031(1), Florida
Statutes; (xiv) nuclear or radioactive material pursuant to the Atomic Energy Act of 1954 or the Energy Reorganization Act, or “radioactive waste” as defined at §404.031(14), Florida Statutes; and (xv) any other substance,
material, residue, or waste which is regulated pursuant to any Environmental Law, as of the Effective Date. Also, for purposes of this Contract, “Seller’s Knowledge” shall be limited to the knowledge of those officers and key
management personnel currently employed by Seller as of the Effective Date who have direct responsibility over the maintenance and operation of the Property, without conducting any further investigation, search or inquiry. This warranty shall
survive closing of this transaction for a period of one year from the Closing Date. 
 8. Disclaimer of Representations or Warranties
by Seller; Buyer’s Acceptance of Property; Release and Indemnification. 
 a. Disclaimer and Buyer Acceptance of
Property. Except as expressly set forth in the Deed, and Paragraph 7, Buyer acknowledges and agrees that Seller has not made, does not make and specifically negates and disclaims any representations, warranties, covenants, promises, agreements or
guaranties of any kind, or character whatsoever, whether express or implied, oral or written, past, present, or future, of, as to, concerning or with respect to (a) the value, nature, quality or condition of the Property, including, without
limitation, the water (including groundwater), soil and geology, (b) the suitability of the Property for any and all activities and uses which Buyer may conduct thereon, (c) the compliance of or by the Property of its operation with any
laws, rules, ordinances or regulations of any applicable governmental authority or body, (d) the existence or non-existence of any jurisdictional wetlands in or on the Land, (e) the availability of or the capacity of any public utilities
to serve the Property, (f) the location of the Property relative to any flood zones, or (g) any other matter with respect to the Property, and specifically, that Seller has not made, does not make and specifically disclaims any
representations regarding compliance with 

  

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any environmental protection, pollution or land use laws, rules, regulations, orders or requirements, including the existence in or on the Property of
Hazardous Substances. Buyer further acknowledges and agrees that Buyer has obtained, or shall obtain, certain inspection reports, surveys or other information from its consultants, agents, independent contractors and representatives as required or
permitted in this Contract prior to Closing, and Buyer is relying solely on these reports, Seller’s representations and warranties set forth in Paragraph 7, and Buyer’s own investigation of the Property; provided, however, that any and all
documents, materials, data and other information provided by Seller, if any (except for the Deed and Seller’s representations and warranties set forth in Paragraph 7), are without warranty or representation of any kind or nature, and Buyer
acknowledges and agrees that Buyer is not relying in any manner on such information provided by Seller. At the Closing, Buyer agrees to accept the Property and waive all objections or claims against Seller arising from or related to the Property or
to any Hazardous Substances on the Land except: (i) with respect to the warranties contained in the Deed; or (ii) with respect to these matters set forth in this Contract which survive Closing. Buyer further acknowledges and agrees that
any information provided or to be provided with respect to the Property was obtained from a variety of sources and that Seller has not made any independent investigation or verification of such information and makes no representations as to the
accuracy or completeness of such information. Buyer further acknowledges and agrees that to the maximum extent permitted by law, the sale of the Property as provided for herein is made on an “AS IS”, “WHERE IS” condition and
basis, with all faults. It is understood and agreed that the Purchase Price has been adjusted by prior negotiation by the parties hereto to reflect that all of the Property is sold by Seller and purchased by Buyer subject to the foregoing. The
provisions of this Paragraph shall expressly survive any Closing or Closings under this Contract. 
 b. Buyer’s
Release and Covenant Not to Sue. AS AN INDUCEMENT TO, AND AS FURTHER CONSIDERATION FOR, SELLER AGREEING TO SELL THE PROPERTY TO BUYER UPON THE TERMS AND CONDITIONS SET FORTH IN THIS AGREEMENT, BUYER COVENANTS AND AGREES THAT, UPON THE CLOSING OF
TITLE TO THE PROPERTY, BUYER SHALL FOREVER RELEASE SELLER AND COVENANT NOT TO SUE SELLER (INCLUDING ITS OFFICERS, DIRECTORS, PARTNERS, OR AFFILIATES OF ANY OF ITS OFFICERS, DIRECTORS OR PARTNERS) WITH RESPECT TO ANYTHING ARISING OUT OF THE
ENVIRONMENTAL OR ANY OTHER PRE-EXISTING CONDITION OF THE PROPERTY OR THE PRESENCE OF HAZARDOUS SUBSTANCES (AS HEREINAFTER DEFINED) IN, ON, UNDER, OR EMANATING FROM OR ONTO THE PROPERTY, REGARDLESS OF WHETHER SUCH ENVIRONMENTAL CONDITIONS OR THE
PRESENCE OF HAZARDOUS SUBSTANCES IS KNOWN OR UNKNOWN BY BUYER AND REGARDLESS OF WHETHER SUCH CONDITION IS SET FORTH IN THE ENVIRONMENTAL REPORTS, OR BUYER’S OWN ENVIRONMENTAL REPORTS. THE FOREGOING RELEASE AND COVENANT NOT TO SUE SHALL APPLY TO
ALL CLAIMS AT LAW OR IN EQUITY, INCLUDING, BUT NOT LIMITED TO, CLAIMS OR CAUSES OF ACTION FOR PERSONAL INJURY OR DEATH, PROPERTY DAMAGE, STATUTORY CLAIMS UNDER ENVIRONMENTAL LAWS AND CLAIMS FOR CONTRIBUTION. THE DEED SHALL CONTAIN A RELEASE AND
COVENANT NOT TO SUE SPECIFICALLY INCORPORATING THE LANGUAGE OF THE FOREGOING PROVISIONS. 
 c. Buyer’s Indemnity.
FOR MATTERS ARISING AFTER CLOSING, BUYER COVENANTS AND AGREES TO INDEMNIFY, DEFEND, AND HOLD SELLER AND ITS OFFICERS, PARTNERS, AFFILIATES, EMPLOYEES AND AGENTS HARMLESS FROM ANY AND ALL CLAIMS, DEMANDS, JUDGMENTS, DAMAGES, PENALTIES, FINES, COSTS,
LIABILITIES (INCLUDING SUMS PAID IN SETTLEMENT OF CLAIMS), OR OTHER LOSSES, INCLUDING ATTORNEYS’ AND/OR CONSULTANTS’ FEES, COURT COSTS AND LITIGATION EXPENSES, IN CONNECTION WITH THE PRESENCE OR SUSPECTED PRESENCE OF HAZARDOUS SUBSTANCES
IN, ON OR UNDER THE GROUND OR ANY BUILDING, STRUCTURE, OR PAVED SURFACE, OR IN ANY ENVIRONMENTAL MEDIUM, INCLUDING BUT NOT LIMITED TO, THE SOIL, GROUNDWATER, OR SOIL VAPOR ON OR UNDER, OR EMANATING FROM THE PROPERTY. WITHOUT LIMITING THE GENERALITY
OF THE FOREGOING, THIS INDEMNIFICATION SHALL SPECIFICALLY COVER COSTS INCURRED IN CONNECTION WITH ANY CLAIM FOR PERSONAL INJURY AND/OR DEATH, PROPERTY DAMAGE, INVESTIGATION OF SITE CONDITIONS OR ANY CLEAN-UP, REMEDIAL, REMOVAL, OR RESTORATION WORK
REQUIRED BY ANY FEDERAL, STATE, OR LOCAL GOVERNMENT AGENCY OR POLITICAL SUBDIVISION BECAUSE OF THE PRESENCE OR SUSPECTED 

  

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PRESENCE OF HAZARDOUS SUBSTANCES, IN, ON OR UNDER THE GROUND OR ANY ENVIRONMENTAL MEDIUM, BUILDING, STRUCTURE, OR PAVED SURFACE OR EMANATING THEREFROM. THE
RELEASE, COVENANT NOT SUE AND INDEMNIFICATIONS SET FORTH HEREIN SHALL BECOME EFFECTIVE AND ENFORCEABLE AUTOMATICALLY UPON CLOSING OF TITLE, AND BUYER SHALL BE BOUND BY THEM, REGARDLESS OF WHETHER OR NOT BUYER EXECUTES ANY SEPARATE INSTRUMENT AT THE
TIME OF CLOSING. 
 9. Inspections; Right of Entry. 
 a. Due Diligence Period. Buyer and its officers, employees, agents and consultants shall have a period commencing on the Effective
Date and ending at 5:00 p.m. on November 30, 2006 (the “Due Diligence Period”) in which to undertake at Buyer’s expense, such physical inspections and other investigations of and concerning the Property and the operation and use
thereof, including surveys, soil borings, environmental studies, percolation, engineering studies, installation of monitoring wells and other tests as Buyer considers necessary for Buyer and its consultants to review and evaluate the physical
characteristics of the Property and all Improvements thereon and to perform certain work or inspections in connection with such evaluation. For that purpose, Seller hereby grants to Buyer and its officers, employees, consultants, agents and assigns,
full right of entry upon the Land and access to all Improvements, from the date hereof up to and including the earlier of the expiration of the Due Diligence Period or termination of this Contract. Buyer shall provide Seller with a minimum of
forty-eight (48) hours notice prior to commencing any intrusive, physical investigations (including any borings, installation of monitoring wells or other physical testing) on the Land to allow Seller’s representative the opportunity to
visually observe any such investigations, at Seller’s discretion. Further, Buyer will not conduct any activities in jurisdictional wetland areas that would violate the terms of any permits or applicable regulations. Buyer warrants to Seller
that it will only undertake such evaluation using consultants and contractors qualified to undertake and complete the various studies and investigations deemed necessary by Buyer. Buyer shall utilize only such consultants and contractors which
employ methods and technologies consistent with generally accepted practices for each such study or investigation. Buyer shall promptly containerize, characterize and remove from the Property any investigation-derived wastes generated by its
evaluation. Buyer agrees that it shall cause any physical damage to the Property occasioned as a result of any soil borings or similar physical tests or examinations to be repaired to the original condition thereof promptly upon the completion of
any such test or examination. Buyer agrees to indemnify and hold Seller harmless from any claims, losses, or damages arising out of or occurring in connection with Buyer’s investigation of the Property, including any third party claims. This
indemnity shall include any claims, losses or damages due to the spread, migration, or increase of any environmental contaminant resulting from Buyer’s invasive testing at the Property. In the event an environmental study or other inspection
should indicate the presence of any hazardous materials, Buyer shall not communicate any such information to any governmental entity or authority, but shall instead immediately provide such report(s) or information to Seller and Seller shall make
any communication or filing which may be required by law. Buyer agrees to indemnify and hold Seller harmless from any cost, loss or expense whatsoever arising from any breach of this obligation to provide Seller with timely information regarding
such hazardous materials. Notwithstanding the foregoing, Buyer shall not be obligated to indemnify Seller pursuant to this Subsection 9(a) for damages or injury caused by Buyer’s consultant, contractor or other parties provided such contractor,
consultant or other parties have been approved by Seller in writing and have provided such insurance in amounts, coverage and underwritten by companies acceptable to Seller, and which policies have Seller as an “additional insured.” Buyer
shall at all times until Closing Date keep and maintain and shall require any and all consultants, contractors or other parties entering upon the Land to keep and maintain general liability insurance in such amount and underwritten upon companies
acceptable to Seller. Seller may require the Buyer, its consultants, contractors and other parties to provide certificates evidencing the coverage herein required. 
 The Buyer and Seller intend, in light of their mutual interests and the recognized possibly applicable joint defense privilege, that the legal privilege for attorney-client communications, the doctrine of attorney
“work product” protection, and all other applicable privileges and protections shall apply to all shared information, as hereinafter defined, to the same extent as if the information had not been so shared and disclosed. “Shared
Information” shall be deemed to include, but is not limited to, company documents, legal and factual research, interviews or debriefing memoranda, and verbal reports, as well as information received directly from any other party relating to or
arising pursuant to this Section 9 or related to any Hazardous Substance. Any information received 

  

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by Buyer or Seller, or their respective attorneys or consultants, shall be conclusively presumed to be “Shared Information” disclosed pursuant to
this Agreement and need not be specifically identified or specified as “Shared Information” disclosed pursuant to this Agreement. “Shared Information” shall not include, inter alia, publicly available documents. Buyer and Seller
agree to keep all “Shared Information” strictly confidential and shall not disclose the same to any third party, without the prior written consent of the other party, except that a party may disclose information to their attorney or
consultants (provided such consultants have signed a written agreement, agreeing to maintain the confidences in a form reasonably acceptable to Buyer and Seller). Should any Shared Information be subpoenaed by any entity or governmental authority,
the party receiving the subpoena will promptly provide notice thereof to the other party, and the parties will fully cooperate if either party desires to contest or limit such subpoena. 
 b. Termination During Due Diligence. In the event the results of the inspections, investigations and evaluations set forth in
subparagraph (a), in Buyer’s sole and absolute opinion, are unacceptable to Buyer and Buyer so notifies Seller in writing of that fact within the Due Diligence Period, then this Contract shall be terminated and the Earnest Money Deposit
returned to Buyer, less the sum of One Thousand and No/100 Dollars ($1,000.00), to be paid to Seller and Buyer shall promptly provide Seller a copy of all surveys, studies, reports or other information obtained during due diligence (but without
representation or warranty whatsoever), as consideration for Buyer’s rights to inspect the Property and terminate the Contract as provided herein. If Buyer does not timely notify Seller of termination of this contract prior to expiration of the
Due Diligence Period, Buyer’s right to terminate this Contract under this Section 9 shall thereafter be void. 
 10.
Conveyance of Property and Closing Documents. At the time of closing hereunder, Seller shall convey its fee simple interest and estate in and title to the Property by special warranty deed (the “Deed”); free and clear of all
liens, encumbrances, exceptions or qualifications whatsoever; save and except only for the Permitted Exceptions. Buyer shall execute and deliver to Seller the Note, Mortgage, Easement, Covenants, Closing Statement and such other documents reasonably
necessary to effect the Closing and Seller will execute the Covenants, Easement, Closing Statement and such other documents as deemed reasonably necessary to effect the transaction. 
 11. Closing Date. Subject to the curative periods set forth in this Contract, the Purchase Price shall be paid, the Deed, closing
statement, FIRPTA affidavit, and other closing documents reasonably required by either party (including an appropriate and customary affidavit of Seller as assurance against the existence of or outstanding rights which could form the basis for
mechanics liens, unrecorded easements or claims of parties in possession) shall be executed, delivered and this Contract shall be closed on December 15, 2006; provided however, that Seller may extend the Closing Date for up to thirty
(30) days upon providing written notice to Buyer on or before December 15, 2006 (“Closing Date”). Upon recordation of the Deed, the Purchase Price shall be paid to Seller. The closing shall take place on the Closing Date at 10:00
a.m. in the offices of Seller’s attorneys or such other time and place as shall be mutually agreed upon between Buyer and Seller. 
 12.
Closing Costs. Seller shall pay for the cost of (a) all documentary stamp taxes required to be paid with respect to the Special Warranty Deed and other instruments of conveyance, if any, (b) the Commitment and the Title
Policy, and all search and examination fees associated therewith, and (c) all recording fees, costs and expenses of curative title instruments or other actions necessary to cure any Title Defects. Buyer shall pay for the cost of (a) all
recording fees with respect to those of the closing documents which are to be recorded (not including, however, the cost of curative title instruments which are to be paid exclusively by Seller), (b) the costs of any environmental inspections
or audits (c) the Survey procured by Buyer, and (d) any and all documentary stamp tax or intangible tax or other costs associated with Buyer’s financing of the Property. Each of the respective parties shall bear its own
attorneys’ fees. 
 13. Prorations. 
 a. Taxes. All ad valorem real and personal property taxes shall be prorated as of the Closing Date. If, however, the amount of such
taxes for the year in which possession is surrendered cannot be ascertained, the rates, mileages and assessed valuations 

  

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for the previous year, with known changes, if any, shall be used as an estimate and tax prorations based on such estimate shall, at the request of either
party, be readjusted between the parties when the actual tax bills for the year of closing are received, but only if such adjustment would result in a difference of $250.00 or greater. 
 b. Assessments. Buyer shall pay all special assessments and liens for public improvements which are, as of the Closing Date,
pending liens or certified liens but only to the extent the payment for such assessment is due and payable after Closing. 
 14. Land
Use Restrictions; Assignment of Developer’s Rights. 
 a. Land Use Covenants. As an express condition of
Seller’s obligations under this Contract, Buyer has agreed to accept the Property subject to certain restrictive covenants imposed for the benefit of Seller, Seller’s affiliates and each of their respective successors and assigns, and
Seller’s remaining portion of the real property located East of Turkey Lake Road (“Seller’s Retained Property”), as more particularly described on the exhibits to Exhibit “E” attached hereto and
incorporated herein by this reference (the “Restrictive Covenants”). The Restrictive Covenants shall, among other matters, require that the Property (i) be utilized for professional office uses purposes only, containing no more than
120,000 square feet but allowing certain permissible neighborhood commercial uses on the first floor (up to 40,000 square feet) and not in violation of the Permitted Encumbrances, (ii) prohibit “competing imagery” associated with
Seller’s competitors, (iii) acknowledge the theme park activities of Seller on nearby property and waive any nuisance claim therefore, (iv) disclaim any right to use “Universal” or Seller’s name except as provided in
the Restrictive Covenants(v) granting Seller a right to maintain the Property’s exterior or structural integrity if Buyer is not adequately maintaining, (vi) require compliance with the limitation on sales of alcoholic beverages as
provided in the Restrictive Covenants, (vii) require that Seller have the reasonable right of architectural, signage site plan and landscape approval to Buyer’s project, and (viii) provide for maintenance of landscaping, storm water
and entry way and payment of common maintenance expenses. The Restrictive Covenants in the form as attached hereto as Exhibit C shall be executed by Buyer and Seller at Closing and recorded in the public records of Orange County, Florida, and the
Deed of Conveyance shall make a cross-reference thereto. 
 b. Development Rights. Buyer and Seller agree that the
development, construction and operation of the Property shall be at all times be in strict compliance with and limited to the development allocations and entitlements specified in the Land Use Covenants, and elsewhere in this Contract. Seller will
assign at closing any development rights applicable to the Property, inclusive of trips necessary to support up 120,000 square feet as prescribed by the methodology agreed to by the City. Except as specifically provided herein, Seller assigns no
other rights, entitlements, prepaid impact fees, or other development rights of Seller and all such other rights are hereby reserved by Seller. 
 c. Easement for Access, Storm Water Drainage and Sanitary Sewer. At Closing, Seller shall grant a Non-Exclusive for Ingress and Egress Easement in the form set forth as Exhibit “F” over
the roadway as graphically denoted on Attachment “1” to Exhibit “F”, attached hereto and incorporated by this reference. It is understood and agreed that Seller is selling the Property net of storm
water retention. In addition, the Easement shall permit connections to Seller’s storm water drainage and sanitary sewer systems at points reasonably designated by Seller pursuant to the terms and requirements set forth in the Easement,
including but not limited to, the requirement for Buyer to install, at Buyer’s expense, a ‘trap’ or ‘interceptor’ before the connection point to Seller’s storm water drainage and/ or sanitary sewer systems. 

d. Development cooperation. Seller will reasonably cooperate and assist (but without the need the incurrence of expense) Buyer
in obtaining approval of Buyer’s proposed office building from the City provided the same has been prepared in accordance with the requirements of the Restrictive Covenants. 
 15. Additional Office Space and Transportation Impact Fees. 
 a. Additional Office Space. At any time up to a date which is ten (10) days prior to the due date of the Purchase Money Note,
Buyer may elect to purchase additional office use entitlement for up to an additional 40,000 square feet of office use. The 

  

 8 

 
price for any additional office use shall be $53 per square foot times the number of square feet of entitlement and shall be paid within 10 days of timely
written notice from Buyer to Seller designate what portion of the 40,000 square feet of space Buyer intends to purchase. Upon payment of the consideration for the additional office space, Seller shall execute an assignment of the necessary trip
entitlements upon the same terms as required above in Section 14.b. 
 b. Transportation Impact Fees. On or before
Closing, Seller shall obtain from the City written confirmation that Buyer’s proposed project on the Property is either: (a) vested at the Transportation Impact Fee rates in effect as of the date of this letter or (b) vested with
rights so that no Transportation Impact Fees are due. If Seller confirms or assigns to Buyer rights under option (b) above the Buyer shall pay to Seller at the time the Purchase Money Note is due a sum equal to the impact fees that would
otherwise have been due on Buyer’s project as of the date of this letter. 
 16. Default. 
 a. Buyer’s Default. If Buyer fails to perform any of the covenants and agreements set forth in this Contract on its part to be
performed within the time or times specified herein, the Earnest Money Deposit shall be paid to Seller as consideration for its execution of this Contract and in full settlement of, and as liquidated damages for, any and all claims for damages,
occasioned by Buyer’s default, and upon such payment this Contract shall terminate and become null and void; provided that if Buyer fails to make any required deposit of Earnest Money Deposit, this Contract shall not terminate as to
Buyer’s obligation to make such payment and the same be paid over to Seller. Except as to a breach of the covenants and agreements set forth in Section 9 hereof, for which Seller may seek any remedy available at law or in equity, Seller
waives any remedy against Buyer for default under this Contract, other than the liquidated damages remedy set forth in this Section 16a. 
 b. Seller’s Default. If the Seller fails to perform any of the material covenants and agreements set forth in this Contract on its part to be performed, the Earnest Money Deposit shall, at the option of
the Buyer, be returned to Buyer on demand. In any case other than the failure of the Seller to render its title marketable after diligent effort or unless specifically prohibited in this Contract, the Buyer may, at its option, proceed at law or in
equity to enforce Buyer’s rights under this Contract against Seller, including, but not limited to, the right of specific performance, which right is hereby specifically granted by Seller to Buyer notwithstanding that Seller does not and shall
not have the reciprocal right to demand or enforce specific performance by Buyer. 
 17. Assignability. This Contract may not
be assigned by Buyer, except to an entity owned or controlled (fifty-one percent (51%) or more) by Buyer. 
 18. Litigation and
Attorneys’ Fees. If it shall be necessary for either party to this Contract to bring suit to enforce any provisions hereof or for damages on account of any breach of this Contract, the prevailing party on any issue in any such
litigation and any appeals therefrom shall be entitled to recover from the other party, in addition to any damages or other relief granted as a result of such litigation, all costs and expenses of such litigation and reasonable attorneys’ fee
as fixed by the court. 
 19. Time of Essence. Time is of the essence of this Contract and in the performance of all conditions
and covenants to be performed or satisfied by either party hereto. Waiver of performance or satisfaction of timely performance or satisfaction of any condition or covenant by one party shall not be deemed to be a waiver of the performance or
satisfaction of any other condition or covenant unless specifically consented to in writing. Whenever a date specified herein shall fall on a Saturday, Sunday or legal holiday, the date shall be extended to the next succeeding business day.

 20. Captions and Paragraph Headings. Captions and paragraph headings contained in this Contract are for convenience and
reference only and in no way define, describe, extend or limit the scope or content of this Contract nor the intent of any provision hereof. 
  

 9 

 21. Notices. Any notice or other communication permitted or required to be given hereunder
by one party to the other shall be in writing and shall be delivered by (i) hand delivery, (ii) express courier (e.g. Federal Express, (iii) facsimile, or (iv) mailed by registered or certified United States Mail, postage
prepaid, return receipt requested, to the party entitled or required to receive the same at the address specified below or at such other address as may hereafter be designated in writing by any such party, to wit: 
  

			
	To Seller:	  	UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD.
		  	1000 Universal Studios Plaza
		  	Orlando, Florida 32819
		  	Attention: Mr. Peter Giacalone
		  	Telephone: (407) 363-8028
		  	Facsimile: (407) 224-6650
		
	With a copy to:	  	PETER G. LATHAM, ESQ.
		  	GRONEK & LATHAM, LLP
		  	390 North Orange Avenue, Suite 600
		  	Orlando, Florida 32801
		  	Telephone: (407) 481-5800
		  	Facsimile: (407) 481-5801
		
	To Buyer:	  	DANIEL CORPORATION
		  	Attn: Laila Witwicky
		  	623 Maitland Avenue
		  	Altamonte Springs, Florida 32701
		  	Telephone: (407) 644-6900
		  	Facsimile: (407) 644-1548
		
	With a copy to:	  	ADVANITS REALTY COMPANY
		  	Attn: Greg Morris
		  	_____________________
		  	_____________________
		  	_____________________
		
	To Escrow Agent:	  	GRONEK & LATHAM, LLP
		  	390 North Orange Avenue, Suite 600
		  	Orlando, Florida 32801
		  	Telephone: (407) 481-5800
		  	Facsimile: (407) 481-5801

 23. Governing Law and Binding Effect. The interpretation and enforcement of this
Contract shall be governed by and construed in accordance with the laws of the State of Florida and shall bind, and the benefits and advantages shall inure to and be enforceable by, the Buyer and Seller as well as their respective personal
representatives, heirs, successors and assigns. Whenever used, the singular name shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. 
 24. Radon Gas. Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may
present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your
county public health unit. 
  

 10 

 25. Integrated Contract, Waiver and Modification. This Contract represents the complete and
entire understanding and agreement between and among the parties hereto with regard to all matters involved in this Contract and supersedes any and all prior or contemporaneous agreements, whether written or oral. This Contract may not be modified
or amended, nor may any provision contained herein be waived, except in writing signed by Seller and Buyer, or if such modification, amendment or waiver is for the benefit of one or more of the parties hereto and to the detriment of the others, then
the same must be in writing signed by all parties to whose detriment the modification, amendment or waiver inures. 
 26.
Execution. To facilitate execution, the parties hereto agree that this Contract may be executed and telecopied to the other party and that the executed telecopy shall be binding and enforceable as an original. This Contract may be
executed in as many counterparts as may be required or desired by the parties. All counterparts shall collectively constitute a single agreement. 
 27. Joinder of Escrow Agent. The Escrow Agent joins in the execution of this Contract for the express purposes of (a) acknowledging receipt (subject to collection) of the Earnest Money Deposit lodged by Buyer with Escrow
Agent hereunder; and (b) agreeing to be bound by the provisions set forth in this Contract with respect to the disbursement of the Earnest Money Deposit. Buyer and Seller hereby authorize the disbursement and delivery of the Earnest Money
Deposit by the Escrow Agent in accordance with the terms and provisions set forth in this Contract. If, however, in the sole discretion of the Escrow Agent some doubt exists as to when, whom or under what circumstances such Earnest Money Deposit
shall be disbursed hereunder, and the parties hereto are unable after thirty (30) days’ prior written notice thereof from Escrow Agent, to agree and direct Escrow Agent, in writing, as to when, whom or under what circumstances Escrow Agent
shall disburse the same, Escrow Agent shall be entitled to interplead said Earnest Money Deposit into the Circuit Court of the county in which the Property is located, without further liability or responsibility on its part. Costs, expenses and
attorneys’ fees incurred by Escrow Agent in connection with any such interpleader may be deducted by Escrow Agent from the amount of the Earnest Money Deposit prior to its deposit into the registry of the Court. In any event, however, all
parties agree that Escrow Agent shall have no liability or any further responsibility to any party or person whomsoever for any disbursement of the Earnest Money Deposit made by Escrow Agent in good faith unless such disbursement shall constitute a
willful breach of the duties and obligations of Escrow Agent under this Contract or gross negligence on the part of Escrow Agent. Seller and Buyer agree that the status of Seller’s counsel as Escrow Agent under this Agreement does not
disqualify such law firm from representing the Seller in connection with this transaction and in any disputes that may arise between Seller and Buyer concerning this transaction, including any dispute or controversy with respect to the Escrow
Deposit. Escrow Agent shall be liable only to hold the Escrow Deposit, to invest same as provided for herein, and to deliver same to the parties named herein in accordance with the provisions of this Contract. Escrow Agent, as escrow agent, is
acting in the capacity of a depository only, and shall not be liable or responsible to anyone for damages, losses or expenses unless same shall be caused by the gross negligence or willful malfeasance of Escrow Agent. 
 28. Brokerage. Seller and Buyer each represent and warrant to each other that no broker or finder has been employed by either Seller or
Buyer in connection with the Sale and Purchase contemplated in this Contract except for Realty Capital TCN (“Seller’s Broker”) and the Advantis Realty Company, Buyer’s Broker (the “Brokers”). The brokerage commission of
4% of the Purchase Price due to Brokers shall be the sole responsibility of Seller pursuant to a brokerage agreement by and between Seller and Seller’s Broker. Seller and Buyer each warrant to the other that no commissions are payable by Seller
or Buyer to any broker or finder in connection with this Contract or the transaction contemplated herein except to Broker. Seller and Buyer each agrees to indemnify, defend, save and hold the other harmless from and against the payment of any
commissions or fees or claims for commissions or fees by virtue of any acts or actions undertaken by them, respectively it being expressly agreed that the foregoing agreement of indemnification shall expressly survive any closing or closings under
this Contract. 
 29. Waiver of Jury Trial. Buyer and Seller do hereby waive any and all right to trial by jury in any
litigation or proceeding arising out of or relating to this Contract. 
 30. Confidentiality. Except as may be required by law
or applicable regulations, including securities laws and regulations, the parties agree to keep and maintain this Contract and all correspondence and discussions related thereto strictly confidential, provided 

  

 11 

 
that each party may disclose such information as it deems necessary to their respective consultants and agents provided all such consultants and agents agree
to keep and maintain all such information confidential. 
 31. Condition Precedent. The parties acknowledge and agree that the
Property is currently encumbered by a Mortgage in favor of JPMorgan Chase Bank, as Administrative and Collateral Agent for the Lender and that the consummation of this transaction is conditioned upon Seller obtaining a written and recorded release
of the said Mortgage. In the event Seller has not obtained the written confirmation from the Lender that it will execute such release on a timely basis on or before November 15, 2006(or such later date that Buyer may agree to), Seller may
terminate this Contract and the Deposit will be promptly returned to Buyer and this Contract shall be null and void. Provided that if Seller timely terminates this Contract, Seller shall reimburse Buyer for up to Twenty Five Thousand Dollars
($25,000.00) of ‘out of pocket expenses’ related to due diligence or design of Buyer’s proposed use of the Property; and Buyer submits reasonable support for such expenses and provides Seller a copy of the reports or materials for
which the Buyer seeks reimbursement. 
 IN WITNESS WHEREOF, the parties have caused these presents to be executed on the day and year
first above written. 
  

											
		 		 	SELLER
			
	  	 		 	UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD., a Florida limited partnership
	 Witness
	 		 	
				
	  	 		 	By:	 	 UNIVERSAL CITY FLORIDA HOLDING CO. II, a Florida general partnership, as its sole general partner

	 Witness
	 		 		 	
					
		 		 		 	By:	 	UNIVERSAL CITY PROPERTY MANAGEMENT COMPANY II, a Delaware Corporation, as partner
					
		 		 		 	 By:
	 	/s/ Peter C. Giacalone
		 		 		 	 Name:
	 	Peter C. Giacalone
		 		 		 	 Title:
	 	Authorized Agent
				
		 		 		 	 Executed on:10/30/06__________________________________________________

				
		 		 		 	BUYER
				
		 		 		 	DANIEL CORPORATION
					
		 		 		 	 By:
	 	/s/ Laila Witwicky
		 		 		 	 Name:
	 	Laila Witwicky	 	  
	  	 		 	Title:	 	President
	 Witness
	 		 		 		 	
			
	  	 		 	 Executed on:_10/30/06_________________________________________________

	 Witness
	 		 		 		 	

  

 12 

									
		 		 		 	ESCROW AGENT
				
		 		 		 	 PETER G. LATHAM, ESQ.
 GRONEK & LATHAM, LLP

				
	  	 		 	 By:
	 	  
	 Witness
	 		 		 	
			
		 		 	 Executed on: ________________________________________

	  	 		 		 	
	 Witness
	 		 		 	

  

 13 

 Exhibit “A” 
 to the Contract for Sale and Purchase 
 Legal Description

 Lot 7 OF THE REPLAT OF UNIVERSAL CITY/FLORIDA PLAT 1, according to the Plat thereof, as recorded in Plat Book 22, Pages 1 and 2,
Public Records of Orange County, Florida. 
  

 1 

 Exhibit “B” 
 to the Contract for Sale and Purchase 
 Promissory Note 
  

			
	$4,890,000.00	  	December     , 2006

 DANIEL CORPORATION 
 623 Maitland Avenue 
 Altamonte Springs, Florida 32701 
 Attention: Laila Witwicky 
 (Hereinafter referred to as “Borrower”) 
 UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD. 
 1000 Universal Studios Plaza 

Orlando, Florida 32819 
 Attention: Vice President of Finance 
 (Hereinafter referred to as “UCDP”)

 Borrower promises to pay to the order of UCDP, in lawful money of the United States of America, at its office indicated above or wherever else UCDP may
specify, the sum of Four Million Eight Hundred Ninety Thousand and No/100 Dollars ($4,890,000.00) and such other sum as may be required pursuant to the terms provided in this Promissory Note (including all renewals, extensions or modifications
hereof, this “Note”). 
 1. PURCHASE MONEY NOTE AND SECURITY. Borrower is executing and delivering this Note as a part of the
purchase price for a certain parcel of land in Orlando, Florida, and is a purchase money note. Borrower has granted UCDP a security interest in certain collateral including, but not limited to, real and personal property collateral described in that
certain Mortgage and Security Agreement of even date herewith (the “Security Instrument”). Capitalized terms used herein and not otherwise defined shall have the meanings given to such terms in the Security Agreement. 
 2. INTEREST RATE. 
 (a) Unless Borrower shall
Default, no Interest shall accrue on the principal balance of this Note. 
 3. DEFAULT RATE. In addition to all other rights contained in this Note,
if a Default (as defined herein) occurs and as long as a Default continues, all outstanding Obligations, between Borrower and UCDP or its affiliates, shall bear interest at the interest rate of fifteen percent (15%) (“Default Rate”).
The Default Rate shall also apply from acceleration until the Obligations or any judgment thereon is paid in full. 
 4. REPAYMENT TERMS. Unless
accelerated by a Default, the entire principal amount outstanding under this Note, shall be paid by Borrower on or before the earlier of (a) the date Borrower receives a building permit for any building upon the Property (as defined in the
Security Agreement or (b) December 15, 2007. 
 5. APPLICATION OF PAYMENTS. 
 (a) Monies received by UCDP from any source for application toward payment of the Obligations shall be applied to principal. If a Default occurs, monies
may be applied to the Obligations in any manner or order deemed appropriate by UCDP. 
  

 1 

 (b) If any payment received by UCDP under this Note or Security Agreement is rescinded, avoided or for
any reason returned by UCDP because of any adverse claim or threatened action, the returned payment shall remain payable as an obligation of all persons liable under this Note or Security Agreement as though such payment had not been made.

 6. DEFINITIONS. 
 (a) The term
“Security Agreement” shall also include any security agreements, security instruments, financing statements, mortgage instruments, any renewals or modifications, whenever any of the foregoing are executed. 
 (b) Obligations. The term “Obligations”, as used in this Note refers to any and all indebtedness and other obligations under this Note,
all other obligations under any other Loan Document(s), between Borrower and UCDP, or its affiliates, whenever executed. 
 (c) Certain
Other Terms. All terms that are used but not otherwise defined herein or the Security Agreement shall have the definitions provided in the Uniform Commercial Code. 
 7. LATE CHARGE. If any payments are not timely made, Borrower shall also pay to UCDP a late charge equal to 5% of each payment past due for 10 or more days. This late charge shall not apply to payments due at
maturity or by acceleration hereof, unless such late payment is in an amount not greater than the highest periodic payment due hereunder. 
 8.
ATTORNEYS’ FEES AND OTHER COLLECTION COSTS. Borrower shall pay all of UCDP’s reasonable expenses actually incurred to enforce or collect any of the Obligations including, without limitation, reasonable arbitration, paralegals’,
attorneys’ and experts’ fees and expenses, whether incurred without the commencement of a suit, in any trial, arbitration, or administrative proceeding, or in any appellate or Bankruptcy proceeding. 
 9. USURY. If at any time the effective interest rate under this Note would, but for this paragraph, exceed the maximum lawful rate, the effective interest rate
under this Note shall be the maximum lawful rate, and any amount received by UCDP in excess of such rate shall be applied to principal and then to fees and expenses, or, if no such amounts are owing, returned to Borrower. 
 10. CURE PERIOD. Except as provided below, any Default, other than non-payment, may be cured within 30 days after written notice thereof is mailed to Borrower by
UCDP. Borrower’s right to cure shall be applicable only to curable defaults and shall not apply, without limitation, to Defaults based upon False Warranty or Cessation; Bankruptcy. No default notice or Cure Period is required with regard to any
payment matter. 
 11. DEFAULT. If any of the following occurs and is not cured within the applicable Cure Period, a default (“Default”)
under this Note shall exist: 
 (a) Nonpayment; Nonperformance. The failure of timely payment or performance of the Obligations or
Default under this Note or any other Loan Documents. 
 (b) False Warranty. A warranty or representation expressly set forth in the
Security Agreement or furnished UCDP in connection with the loan evidenced by this Note proves materially and adversely false, or if of a continuing nature, becomes materially and adversely false. 
 (c) Cessation; Bankruptcy. The death of, appointment of a guardian for, dissolution of, termination of existence of, loss of good standing status
by, appointment of a receiver for, assignment for the benefit of creditors of, or commencement of any Bankruptcy or insolvency proceeding by or against Borrower, Guarantor, any entity or individual having in excess of a twenty percent
(20%) ownership interest in Borrower or any Guarantor, or any general partner of Borrower or Guarantor, or any party to the Loan Documents. 
  

 2 

 (d) Material Capital Structure or Business Alteration. Without prior written consent of UCDP,
(i) a material alteration in the kind or type of Borrower’s business or that of Borrower, Guarantor, any entity or individual having in excess of a twenty percent (20%) ownership interest in Borrower or any Guarantor, or any general
partner of Borrower or Guarantor; (ii) the sale of substantially all of the business or assets of Borrower, Guarantor, any entity or individual having in excess of a twenty percent (20%) ownership interest in Borrower or any Guarantor, or
any general partner of Borrower or Guarantor, or a material portion (10% or more) of such business or assets if such a sale is outside the ordinary course of business of such entity, or more than 50% of the outstanding stock or voting power of or in
any such entity in a single transaction or a series of transactions; (iii) the acquisition by Borrower of substantially all of the business or assets or more than 50% of the outstanding stock or voting power of any other entity; or
(iv) should Borrower, Guarantor, any entity or individual having in excess of a twenty percent (20%) ownership interest in Borrower or any Guarantor, or any general partner of Borrower or Guarantor enter into any merger or consolidation.

 12. REMEDIES UPON DEFAULT. If a Default occurs under this Note or the Security Agreement, UCDP may at any time thereafter, take the following
actions:
 (a) UCDP Lien. Foreclose its security interest or lien against Borrower’s accounts upon providing five (5) days
written notice. 
 (b) Acceleration Upon Default. Accelerate the maturity of this Note and, at UCDP’s option, any or all other
Obligations, between Borrower and UCDP, or its affiliates, which shall be due in accordance with and governed by the provisions of said swap agreements; whereupon this Note and the accelerated Obligations shall be immediately due and payable;
provided, however, if the Default is based upon a Bankruptcy or insolvency proceeding commenced by or against Borrower or any guarantor or endorser of this Note, all Obligations (other than Obligations under any swap agreement as referenced above)
shall automatically and immediately be due and payable. 
 (c) Cumulative. Exercise any rights and remedies as provided under the Note
and Security Agreement, or as provided by law or equity. 
 13. FINANCIAL AND OTHER INFORMATION. Borrower shall deliver to UCDP such information as
UCDP may reasonably request from time to time, including without limitation, financial statements and information pertaining to Borrower’s financial condition. Such information shall be true, complete, and accurate and certified by an officer
of Borrower. 
 14. WAIVERS AND AMENDMENTS. 
 (a) No waivers, amendments or modifications of this Note and the Security Agreement shall be valid unless in writing and signed by an officer of UCDP. No waiver by UCDP of any Default shall operate as a waiver of any other Default or the
same Default on a future occasion. Neither the failure nor any delay on the part of UCDP in exercising any right, power, or remedy under this Note and other Loan Documents shall operate as a waiver thereof, nor shall a single or partial exercise
thereof preclude any other or further exercise thereof or the exercise of any other right, power or remedy. 
 (b) Except to the extent
otherwise provided by the Security Agreement or prohibited by law, each Borrower and each other person liable under this Note waives presentment, protest, notice of dishonor, demand for payment, notice of intention to accelerate maturity, notice of
acceleration of maturity, notice of sale and all other notices of any kind. Further, each agrees that UCDP may (i) extend, modify or renew this Note or make a novation of the loan evidenced by this Note, and/or (ii) grant releases,
compromises or indulgences with respect to any collateral securing this Note, or with respect to any Borrower or other person liable under this Note or Security Agreement, all without notice to or consent of each Borrower and other such person, and
without affecting the liability of each Borrower and other such person; provided, UCDP may not extend, modify or renew this Note or make a novation of the loan 

  

 3 

 
evidenced by this Note without the consent of the Borrower, or if there is more than one Borrower, without the consent of at least one Borrower; and further
provided, if there is more than one Borrower, UCDP may not enter into a modification of this Note which increases the burdens of a Borrower without the consent of that Borrower. 
 15. MISCELLANEOUS PROVISIONS. 
 (a) Assignment. This Note and the Security Agreement shall
inure to the benefit of and be binding upon the parties and their respective heirs, legal representatives, successors and assigns. UCDP’s interests in and rights under this Note and the Security Agreement are freely assignable, in whole or in
part, by UCDP. In addition, nothing in this Note or any of the Security Agreement shall prohibit UCDP from pledging or assigning this Note or Security Agreement or any interest therein to any Federal Reserve UCDP. Borrower shall not assign its
rights and interest hereunder without the prior written consent of UCDP, and any attempt by Borrower to assign without UCDP’s prior written consent is null and void. Any assignment shall not release Borrower from the Obligations. 
 (b) Applicable Law; Conflict Between Documents. This Note and, unless otherwise provided in Security Agreement, the Security Agreement shall be
governed by and construed under the laws of the state named in UCDP’s address on the first page hereof without regard to that state’s conflict of laws principles. If the terms of this Note should conflict with the terms of the Security
Agreement, the terms of this Note shall control. 
 (c) Jurisdiction. Borrower irrevocably agrees to non-exclusive personal
jurisdiction in the state named in UCDP’s address on the first page hereof. 
 (d) Severability. If any provision of this Note or
the Security Agreement shall be prohibited or invalid under applicable law, such provision shall be ineffective but only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining
provisions of this Note or other such document. 
 (e) Notices. Any notices to Borrower shall be sufficiently given, if in writing and
mailed or delivered to the Borrower’s address shown above or such other address as provided hereunder, and to UCDP, if in writing and mailed or delivered to Universal City Development Partners, Ltd., 1000 Universal Studios Plaza, Orlando,
Florida 32819, attention: Peter C. Giacalone or such other address as UCDP may specify in writing from time to time. Notices to UCDP must include the mail code. In the event that Borrower changes Borrower’s address at any time prior to the date
the Obligations are paid in full, Borrower agrees to promptly give written notice of said change of address by registered or certified mail, return receipt requested, all charges prepaid. 
 (f) Plural; Captions. All references in the Security Agreement to Borrower, guarantor, person, document or other nouns of reference mean both the
singular and plural form, as the case may be, and the term “person” shall mean any individual, person or entity. The captions contained in the Loan Documents are inserted for convenience only and shall not affect the meaning or
interpretation of the Loan Documents. 
 (g) Advances. UCDP may, in its sole discretion, upon a default by Borrower, make other
advances which shall be deemed to be advances under this Note, even though the stated principal amount of this Note may be exceeded as a result thereof. 
 (h) Joint and Several Obligations. If there is more than one Borrower, each is jointly and severally obligated. 
 (i) Fees and Taxes. Borrower shall promptly pay all documentary, intangible recordation and/or similar taxes on this Note and the Mortgage whether assessed at closing or arising from time to time. 

 

 4 

 (j) LIMITATION ON LIABILITY; WAIVER OF PUNITIVE DAMAGES. EACH OF THE PARTIES HERETO, INCLUDING
UCDP BY ACCEPTANCE HEREOF, AGREES THAT IN ANY JUDICIAL, MEDIATION OR ARBITRATION PROCEEDING OR ANY CLAIM OR CONTROVERSY BETWEEN OR AMONG THEM THAT MAY ARISE OUT OF OR BE IN ANY WAY CONNECTED WITH THIS AGREEMENT, THE SECURITY AGREEMENT OR ANY OTHER
AGREEMENT OR DOCUMENT BETWEEN OR AMONG THEM OR THE OBLIGATIONS EVIDENCED HEREBY OR RELATED HERETO, IN NO EVENT SHALL ANY PARTY HAVE A REMEDY OF, OR BE LIABLE TO THE OTHER FOR, (1) INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES OR (2) PUNITIVE
OR EXEMPLARY DAMAGES. EACH OF THE PARTIES HEREBY EXPRESSLY WAIVES ANY RIGHT OR CLAIM TO PUNITIVE OR EXEMPLARY DAMAGES THEY MAY HAVE OR WHICH MAY ARISE IN THE FUTURE IN CONNECTION WITH ANY SUCH PROCEEDING, CLAIM OR CONTROVERSY, WHETHER THE SAME IS
RESOLVED BY ARBITRATION, MEDIATION, JUDICIALLY OR OTHERWISE. 
 (k) FINAL AGREEMENT. This Note and the Security Agreement represent
the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties. There are no unwritten oral agreements between the parties. 
 16. WAIVER OF JURY TRIAL. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF BORROWER BY EXECUTION HEREOF AND UCDP BY ACCEPTANCE HEREOF, KNOWINGLY, VOLUNTARILY
AND INTENTIONALLY WAIVES ANY RIGHT EACH MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE, THE LOAN DOCUMENTS OR ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN CONNECTION WITH
THIS NOTE, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY WITH RESPECT HERETO. THIS PROVISION IS A MATERIAL INDUCEMENT TO UCDP TO ACCEPT THIS NOTE. EACH OF THE PARTIES AGREES THAT
THE TERMS HEREOF SHALL SUPERSEDE AND REPLACE ANY PRIOR AGREEMENT RELATED TO ARBITRATION OF DISPUTES BETWEEN THE PARTIES CONTAINED IN THE SECURITY AGREEMENT OR ANY OTHER DOCUMENT OR AGREEMENT HERETOFORE EXECUTED IN CONNECTION WITH, RELATED TO OR
BEING REPLACED, SUPPLEMENTED, EXTENDED OR MODIFIED BY, THIS NOTE. 
 [The remainder of this page intentionally left blank] 
  

 5 

 IN WITNESS WHEREOF, Borrower, on the day and year first above written, has caused this Note to be
executed under seal. 
  

					
	DANIEL CORPORATION	 	
			
	By:	 	  	 	 (SEAL)

		 	Laila Witwicky	 	
	 Its:
	 	  	 	

  

 6 

 Exhibit “C” 
 to the Contract for Sale and Purchase 
 Mortgage and Security Agreement

 RETURN TO: Peter G. Latham 
 Peter G. Latham 
 Gronek &
Latham, LLP 
 390 North Orange Avenue 
 Suite 600 
 Orlando, Florida 32801 
 MORTGAGE AND SECURITY AGREEMENT 
 This MORTGAGE AND SECURITY AGREEMENT (hereafter referred to as “Mortgage”) made December ___, 2006, by and between, DANIEL CORPORATION, a Florida corporation, whose address is 623 Maitland Avenue,
Altamonte Springs, Florida 32701, Attention: Laila Witwicky, (“Mortgagor”), and UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD., a Florida limited partnership, whose address is 1000 Universal Studios Plaza, Orlando, Florida 32819,
(“Mortgagee”). 
 WITNESSETH: 
 To secure payment and performance of obligations under a Promissory Note (the “Note”) dated of even date herewith, in the amount of $4,890,000.00, made by Mortgagor payable to Mortgagee, this
Mortgage, between Mortgagee or any of its affiliates and Mortgagor, and all other indebtedness of Mortgagor to Mortgagee whenever borrowed or incurred, whether or not reasonably contemplated by the parties hereto as of the date hereof, and any
renewals, extensions, novations, or modifications of the foregoing (collectively the “Obligations”), and in consideration of these premises and for other consideration, Mortgagor does mortgage, grant and convey unto Mortgagee (for itself
and its affiliates), its successors and assigns, all of Mortgagor’s right, title and interest now owned or hereafter acquired in and to each of the following (collectively, the “Property”):  
 (i) all those certain tracts of land in Orlando, County of Orange, State of Florida described in EXHIBIT A attached hereto and made part hereof (the
“Land”); 
 (ii) all buildings and improvements now or hereafter erected on the Land; 
 (iii) all fixtures, machinery, equipment and other articles of real, personal or mixed property attached to, situated or installed in or upon, or used in
the operation or maintenance of, the Land or any buildings or improvements situated thereon, whether or not such real, personal or mixed property is or shall be affixed to the Land; 
 (iv) all building materials, building machinery and building equipment delivered on site to the Land during the course of, or in connection with, any
construction, repair or renovation of the buildings and improvements situated or to be situated thereon; 
 (v) all leases, licenses or
occupancy agreements of all or any part of the Land and all extensions, renewals, and modifications thereof, and any options, rights of first refusal or guarantees relating thereto; all rents, income, revenues, security deposits, issues, profits,
awards and payments of any kind payable under the leases or otherwise arising from the Land; 

 (vi) all contract rights, accounts receivable and general intangibles relating to the Land or the use,
occupancy, maintenance, construction, repair or operation thereof; all management agreements, franchise agreements, utility agreements and deposits; all maps, plans, surveys and specifications; all warranties and guaranties; all permits, licenses
and approvals; and all insurance policies; 
 (vii) all estates, rights, tenements, hereditaments, privileges, easements, development rights
or entitlements and appurtenances of any kind benefiting the Land; all means of access to and from the Land, whether public or private; and all water and mineral rights; and 
 (viii) all “Proceeds” of any of the above-described property, which term shall have the meaning given to it in the Uniform Commercial Code of
the jurisdiction where this Mortgage is recorded (the “UCC”), whether cash or non-cash, and including insurance proceeds and condemnation awards; and all replacements, substitutions and accessions thereof. 
 TO HAVE AND TO HOLD the Property and all the estate, right, title and interest, in law and in equity, of Mortgagor’s in and to the Property unto
Mortgagee, its successors and assigns, forever. 
 Mortgagor WARRANTS AND REPRESENTS that Mortgagor is lawfully seized of the Property, in
fee simple, absolute, that Mortgagor has the legal right to convey and encumber the same, and that the Property is free and clear of all liens and encumbrances. Mortgagor further warrants and will forever defend all and singular the Property and
title thereto to Mortgagee and Mortgagee’s successors and assigns, against the lawful claims of all persons whomsoever. 
 PROVIDED
ALWAYS that if (i) all the Obligations are paid in full, and (ii) each and every representation, warranty, agreement, covenant and condition of this Mortgage, and the Note, then this Mortgage and the estate hereby created shall cease and
be null, void, and canceled of record. 
 To protect the security of this Mortgage, Mortgagor further represents and agrees with Mortgagee as
follows: 
 1. Payment of Obligations. That the Obligations shall be timely paid and performed. 
 2. Future Advances. This Mortgage is given to secure not only existing Obligations, but also interest, costs, reimbursements, fees and expenses due under this
Mortgage in the event of a default by Mortgagor. 
 3. Grant of Security Interest in Personal Property. This Mortgage constitutes a security agreement
under the UCC and shall be deemed to constitute a fixture financing statement. Mortgagor hereby grants a security interest in any personal property included in the Property. On request of Mortgagee, Mortgagor will execute one or more Financing
Statements in form satisfactory to Mortgagee and will pay all costs and expenses of filing the same in all public filing offices, where filing is deemed desirable by Mortgagee. Mortgagee is authorized to file Financing Statements relating to the
Property without Mortgagor’s signature where permitted by law. Mortgagor appoints Mortgagee as its attorney-in-fact to execute such documents necessary to perfect Mortgagee’s security interest on Mortgagor’s behalf. The appointment is
coupled with an interest and shall be irrevocable as long as any Obligations remain outstanding. 
 Nothing herein obligates Mortgagee to
provide credit in excess of the Obligations. 
 4. Leases, Subleases and Easements. Mortgagor shall maintain, enforce and cause to be performed all of
the terms and conditions under any lease, sublease or easement which may constitute a portion of the Property. Mortgagor will not enter into, amend or renew any leases or other occupancy agreements affecting the Property except leases which are on
terms and subject to such conditions as are in the ordinary course of business of a self-storage facility of similar quality and location. 

 5. Required Insurance. 
 (a) Mortgagor shall maintain with respect to the Property, liability insurance providing coverage in such amount as Mortgagee may require but in no event less than $1,000,000.00 combined single limit, naming Mortgagee
as an additional insured; and 
 (b) All insurance policies shall be in form, provide coverages, be issued by companies and be in amounts
satisfactory to Mortgagee. At least 30 days prior to the expiration of each such policy, Mortgagor shall furnish Mortgagee with evidence satisfactory to Mortgagee that such policy has been renewed or replaced or is no longer required hereunder. All
such policies shall provide that the policy will not be canceled or materially amended without at least 30 days prior written notice to Mortgagee. In the event Mortgagor fails to provide, maintain, keep in force, and furnish to Mortgagee the
policies of insurance required by this paragraph, Mortgagee may procure such insurance or single-interest insurance in such amounts, at such premium, for such risks and by such means as Mortgagee chooses, at Mortgagor’s expense; provided
however, Mortgagee shall have no responsibility to obtain any insurance, but if Mortgagee does obtain insurance, Mortgagee shall have no responsibility to assure that the insurance obtained shall be adequate or provide any protection to Mortgagor.

 6. Insurance Proceeds. 
 (a) After
occurrence of any loss to any of the Property, Mortgagor shall give prompt written notice thereof to Mortgagee. 
 (b) In the event of such
loss all insurance proceeds, including unearned premiums, shall be payable to Mortgagee, and Mortgagor hereby authorizes and directs any affected insurance company to make payment of such proceeds directly to Mortgagee and not to Mortgagee and
Mortgagor jointly. Mortgagee is hereby authorized by Mortgagor to make proof of loss if not promptly made by Mortgagor, settle, adjust or compromise any claims for loss or damage under any policy or policies of insurance and Mortgagor appoints
Mortgagee as its attorney-in-fact to receive and endorse any insurance proceeds to Mortgagee, which appointment is coupled with an interest and shall be irrevocable as long as any Obligations remain unsatisfied. Mortgagor shall pay the costs of
collection, including attorneys’ fees, of insurance proceeds payable on account of such damage or destruction. Mortgagor shall have no claim against the insurance proceeds, or be entitled to any portion thereof, and all rights to the insurance
proceeds are hereby assigned to Mortgagee as security for payment of the Obligations. 
 (c) In the event of any damage to or destruction of
the Property, Mortgagee shall have the option of applying or paying all or part of the insurance proceeds to 
 (i) the
Obligations in such order as Mortgagee may determine, 
 (ii) restoration, replacement or repair of the Property in accordance
with Mortgagee’s standard construction loan disbursement conditions and requirements, or 
 (iii) the Mortgagor;
provided, however, that nothing herein shall be deemed to excuse Mortgagor from restoring, repairing and maintaining the Property as required herein. 
 7.
Minimum Standards. In addition to the requirements set forth herein, all surveys, insurance, title policies, construction documents, environmental reports, payment and performance bonds, and any other due diligence or additional documents
required in connection with this Loan, shall comply with Mortgagee’s minimum standards in place from time to time for such documents, which shall be provided in writing by Mortgagee to Mortgagor upon request. 
 8. Impositions. Mortgagor will pay all taxes, levies, assessments and other fees and charges imposed upon or which may become a lien upon the Property under any
law or ordinance (all of the foregoing collectively “Impositions”) before they become delinquent and in any event in the same calendar year in which they first become due. Notwithstanding the foregoing, Mortgagor may delay paying any
imposition if the validity or amount thereof is being contested in good faith by appropriate and lawful proceedings, so long as levy and execution thereon have been stayed and continue to be stayed and so long as the priority of this Mortgage shall
not be adversely affected. 

 9. Use of Property. Mortgagor shall use and operate, and require certain restrictive covenants dated of even date
herewith and operate, the Property in compliance with all applicable laws (including, for example, the Americans with Disabilities Act and the Fair Housing Act) and ordinances, covenants, and restrictions, and with all applicable requirements now or
hereafter affecting the Property. Mortgagor shall not permit any unlawful use of the Property or any use that may give rise to a claim of forfeiture of any of the Property. Mortgagor shall not allow changes in the stated use of Property from that
disclosed to Mortgagee at the time of execution hereof. Mortgagor shall not initiate or acquiesce to a zoning change of the Property without prior notice to, and written consent of, Mortgagee. 
 10. Maintenance, Repairs and Alterations. Mortgagor shall keep and maintain the Property in good condition and repair and fully protected from the elements to the
satisfaction of Mortgagee. Mortgagor will not remove, demolish or structurally alter any of the buildings or other improvements on the Property (except such alterations as may be required by laws, ordinances or regulations) without the prior written
consent of Mortgagee. Mortgagor shall promptly notify Mortgagee in writing of any material loss, damage or adverse condition affecting the Property. 
 11.
Eminent Domain. Should the Property or any interest therein be taken or damaged by reason of any public use or improvement or condemnation proceeding (“Condemnation”), or should Mortgagor receive any notice or other information
regarding such Condemnation, Mortgagor shall give prompt written notice thereof to Mortgagee. Mortgagee shall be entitled to all compensation, awards and other payments or relief granted in connection with such Condemnation and, at its option, may
commence, appear in and prosecute in its own name any action or proceedings relating thereto. Mortgagee shall be entitled to make any compromise or settlement in connection with such taking or damage. All compensation, awards, and damages awarded to
Mortgagor related to any Condemnation (the “Proceeds”) are hereby assigned to Mortgagee and Mortgagor agrees to execute such further assignments of the Proceeds as Mortgagee may require. Mortgagee shall have the option of applying or
paying the Proceeds in the same manner as insurance proceeds as provided herein. Mortgagor appoints Mortgagee as its attorney-in-fact to receive and endorse the Proceeds to Mortgagee, which appointment is coupled with an interest and shall be
irrevocable as long as any Obligations remain unsatisfied. 
 12. Environmental Condition of Property and Indemnity. 
 (a) Mortgagor shall not permit the use of any Hazardous Material on the Property or activity on the Property that in UCDP’s judgment could cause a
release of Hazardous Substances upon, in, or underneath the Property. Further, Mortgagor represents to Mortgagee that no portion of the Property is a protected wetland. Mortgagor agrees to notify Mortgagee immediately upon receipt of any citations,
warnings, orders, notices, consent agreements, process or claims alleging or relating to violations of any Environmental Laws or to the environmental condition of the Property and shall conduct and complete all investigations and all cleanup actions
necessary to comply with the Environmental Laws and to remove, in accordance with Environmental Laws, any Hazardous Material from the Property. 
 (b) Mortgagor shall indemnify, hold harmless, and defend Mortgagee from and against any and all damages, penalties, fines, claims, suits, liabilities, costs, judgments and expenses, including attorneys’, consultants’ or
experts’ fees of every kind and nature incurred, suffered by or asserted against Mortgagee as a direct or indirect result of: (i) representations made by Mortgagor in this Section being or becoming untrue in any material respect;
(ii) Mortgagor’s violation of or failure to meet the requirements of any Environmental Laws; or (iii) Hazardous Materials which, while the Property is subject to this Mortgage, exist on the Property in violation of Environmental Laws.
Mortgagee shall have the right to arrange for or conduct environmental inspections of the Property from time to time (including the taking of soil, water, air or material samples). The cost of such inspections made after Default or which are
required by laws or regulations applicable to Mortgagee shall be borne by Mortgagor. However, Mortgagor’s indemnity shall not apply to any negligent or intentional act of Mortgagee which takes place after foreclosure or satisfaction of this
Mortgage. 

 
These indemnification obligations are in addition to General Indemnification provisions set forth hereafter. Mortgagor’s Obligations under this section
shall continue, survive and remain in full force and effect notwithstanding the repayment of the Obligations, a foreclosure of or exercise of power of sale under this instrument, a delivery of a deed in lieu of foreclosure, a cancellation or
termination of record of this instrument and the transfer of the Property. 
 13. Inspections. Mortgagee, or its representatives or agents, are
authorized to enter at any reasonable time upon any part of the Property for the purpose of inspecting the Property and for the purpose of performing any of the acts it is authorized to perform under the terms of this Mortgage. 
 14. Liens and Subrogation. 
 (a) Mortgagor shall pay
and promptly discharge all liens, claims and encumbrances upon the Property. Mortgagor shall have the right to contest in good faith the validity of any such lien, claim or encumbrance, provided: (i) such contest suspends the collection thereof
or there is no danger of the Property being sold or forfeited while such contest is pending; (ii) Mortgagor first deposits with Mortgagee a bond or other security satisfactory to Mortgagee in such amounts as Mortgagee shall reasonably require;
and (iii) Mortgagor thereafter diligently proceeds to cause such lien, claim or encumbrance to be removed and discharged. 
 (b)
Mortgagee shall be subrogated to any liens, claims and encumbrances against Mortgagor or the Property that are paid or discharged through payment by Mortgagee or with loan proceeds, notwithstanding the record cancellation or satisfaction thereof.

 15. Waiver of Mortgagor’s Rights. 
 (a) To the fullest extent permitted by law, Mortgagor waives the benefit of all laws now existing or that hereafter may be enacted providing for
(i) any appraisement before sale of any portion of the Property, (ii) in any way extending the time for the enforcement of the collection of the Note or the debt evidenced thereby or any of the other Obligations, and any rights to hearing
prior to the exercise by Mortgagee of any right, power, or remedy herein provided to Mortgagee. 
 (b) To the full extent Mortgagor may do
so, Mortgagor agrees that Mortgagor will not at any time insist upon, plead, claim or seek to take the benefit or advantage of any law now or hereafter in force providing for any exemption (including homestead exemption), appraisement, valuation,
stay, extension or redemption, and Mortgagor for themselves and their respective heirs, devisees, representatives, successors and assigns, and for any and all persons claiming any interest in the Property, to the extent permitted by law, hereby
waive and release all rights of valuation, appraisement, redemption, stay of execution, the benefit of all exemption laws, notice of election to mature or declare due the whole of the secured indebtedness and marshalling in the event of foreclosure
of the liens hereby created. Mortgagor further waives any and all notices including, without limitation, notice of intention to accelerate and of acceleration of the Obligations. 
 16. Payments by Mortgagee. In the event of default in the timely payment or performance of any of the Obligations, Mortgagee, at its option and without any duty on its part to determine the validity or
necessity thereof, may pay the sums for which Mortgagor is obligated. Further, Mortgagee may pay such sums as Mortgagee deems appropriate for the protection and maintenance of the Property including, without limitation, sums to pay Impositions and
other levies, assessments or liens, maintain insurance, make repairs, secure the Property, maintain utility service, intervene in any condemnation, make advances under a construction loan to enable completion of construction and pay attorneys’
fees and other fees and costs to enforce this Mortgage or protect the lien hereof (including foreclosure) or collect the Obligations, without limitation, including those incurred in any proceeding including bankruptcy or arbitration. Any amounts so
paid shall bear interest at the default rate stated in the Note and shall be secured by this Mortgage. 

 17. Indemnification. Mortgagor shall protect, indemnify and save harmless Mortgagee from and against all losses,
liabilities, obligations, claims, damages, penalties, fines, causes of action, costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses) (collectively, “Damages”) imposed upon, incurred by or asserted
or assessed against Mortgagee on account of or in connection with (i) the Note or any failure or alleged failure of Mortgagor to comply with any of the terms of, or the inaccuracy or breach of any representation in, this Mortgage or the Note;
(ii) the Collateral or any claim of loss or damage to the Property or any injury or claim of injury to, or death of, any person or property that may be occasioned by any cause whatsoever pertaining to the Property or the use, occupancy or
operation thereof, (iii) any failure or alleged failure of Mortgagor to comply in any material respect with any law, rule or regulation applicable to it or to the Property or the use, occupancy or operation of the Property (including, without
limitation, the failure to pay any taxes, fees or other charges), provided that such indemnity shall be effective only to the extent of any Damages that may be sustained by Mortgagee in excess of any net proceeds received by it from any insurance of
Mortgagor (other than self-insurance) with respect to such Damages, (iv) any Damages whatsoever by reason of any alleged action, obligation or undertaking of Mortgagee relating in any way to or any matter contemplated by the Loan Documents,
(v) any claim for brokerage fees or such other commissions relating to the Property or any other Obligations, or (vi) any and all liability arising from any leases related to the Property. Nothing contained herein shall require Mortgagor
to indemnify Mortgagee for any Damages resulting from Mortgagee’s gross negligence or its willful and wrongful acts. The indemnity provided for herein shall survive payment of the Obligations and shall extend to the officers, directors,
employees and duly authorized agents of Mortgagee. In the event the Mortgagee incurs any Damages arising out of or in any way relating to the transaction contemplated by the Loan Documents (including any of the matters referred to in this section),
the amounts of such Damages shall be added to the Obligations, shall bear interest, to the extent permitted by law, at the interest rate borne by the Obligations from the date incurred until paid and shall be payable on demand. 
 18. Due on Sale or Further Encumbrance or Transfer of an Interest in Mortgagor. Without the prior written consent of Mortgagee in each instance, Mortgagor shall
not (i) sell, convey, transfer or encumber the Property, or any part thereof or interest therein, whether legal or equitable, (ii) cause or permit any transfer of the Property or any part thereof, whether voluntarily, involuntarily or by
operation of law, or (iii) enter into any agreement or transaction to transfer, or accomplish in form or substance a transfer, of the Property. A “transfer” of the Property includes: (a) the direct or indirect sale, transfer or
conveyance of the Property or any portion thereof or interest therein; (b) the execution of an installment sale contract or similar instrument affecting all or any portion of the Property; (c) if Mortgagor or any general partner or member
of Mortgagor, is a corporation, partnership, limited liability company, trust or other business entity, the transfer (whether in one transaction or a series of transactions) of any stock, partnership, limited liability company or other ownership
interests in such corporation, partnership, limited liability company or entity including, without limitation, changes in stockholders, partners, members, managers, trustees, beneficiaries, or their respective interests; (d) if Mortgagor, or
any general partner or member of Mortgagor, is a corporation, the creation or issuance of new stock by which an aggregate of more than 10% of such corporation’s stock shall be vested in a party or parties who are not now stockholders; and
(e) an agreement by Mortgagor leasing all or a substantial part of the Property for other than actual occupancy by a space tenant thereunder or a sale, assignment or other transfer of or the grant of a security interest in and to any Leases.
Nothing herein shall be deemed to prohibit Mortgagor from leasing portions of the Property for self-storage purposes in accordance with section 4 hereof. 
 19. Remedies of Mortgagee on Default. 
 (a) If any of the following events occur, a default
(“Default”) under this Mortgage shall exist: 
 (i) Failure to timely pay any monetary Obligation under this
Mortgage when such payment is due provided Mortgagee has provided five (5) days written notice of such default (a “Payment Default”); 
 (ii) Failure to timely perform any of the terms, covenants or obligations under this Mortgage (other than a Payment Default) within 10 days after written notice thereof is mailed to Mortgagor by Mortgagee; 

(iii) a Default under the Note or any other loan document; 

 (b) Upon the occurrence of Default the following remedies are available, without limitation, to
Mortgagee: (i) Mortgagee may exercise any or all of Mortgagee’s remedies under this Mortgage including, without limitation, acceleration of the maturity of all payments and Obligations, with Mortgagee or any of its affiliates, which shall
be due in accordance with and governed by the provisions of said swap agreements; (ii) Mortgagee may take immediate possession of the Property or any part thereof (which Mortgagor agrees to surrender to Mortgagee) and manage, control or lease
the same to such persons and at such rental as it may deem proper and collect and apply Rents to the payment of: (a) the Obligations, together with all costs and attorneys’ fees; (b) all Impositions and any other levies, assessments
or liens which may be prior in lien or payment to the Obligations, and premiums for insurance, with interest on all such items; and (c) the cost of all alterations, repairs, replacements and expenses incident to taking and retaining possession
of the Property and the management and operation thereof; all in such order or priority as Mortgagee in its sole discretion may determine. The taking of possession shall not prevent concurrent or later proceedings for the foreclosure sale of the
Property; (iii) Mortgagee may apply to any court of competent jurisdiction for the appointment of a receiver for all purposes including, without limitation, to manage and operate the Property or any part thereof, and to apply the Rents
therefrom as hereinabove provided. In the event of such application, Mortgagor consents to the appointment of a receiver, and agrees that a receiver may be appointed without notice to Mortgagor, without regard to whether Mortgagor has committed
waste or permitted deterioration of the Property, without regard to the adequacy of any security for the Obligations, and without regard to the solvency of Mortgagor or any other person, firm or corporation who or which may be liable for the payment
of the Obligations; (iv) Mortgagee may exercise all the remedies of a mortgagee as provided by law and in equity including, without limitation, foreclosure upon this Mortgage and sale of the Property, or any part of the Property, at public sale
conducted according to applicable law (referred to as “Sale”) and conduct additional Sales as may be required until all of the Property is sold or the Obligations are satisfied; (v) With respect to any portion of the Property governed
by the UCC, Mortgagee shall have all of the rights and remedies of a secured party thereunder. Mortgagee may elect to foreclose upon any Property that is fixtures under law applicable to foreclosure of interests in real estate or law applicable to
personal property; (vi) Mortgagee may bid at Sale and may accept, as successful bidder, credit of the bid amount against the Obligations as payment of any portion of the purchase price; and (vii) Mortgagee shall apply the proceeds of Sale,
first to any fees or attorney fees permitted Mortgagee by law in connection with Sale, second to expenses of foreclosure, publication, and sale permitted Mortgagee by law in connection with Sale, third to the Obligations, and any remaining proceeds
as required by law. 
 20. Miscellaneous Provisions. Mortgagor agrees to the following: (i) All remedies available to Mortgagee with respect to
this Mortgage or available at law or in equity shall be cumulative and may be pursued concurrently or successively. No delay by Mortgagee in exercising any remedy shall operate as a waiver of that remedy or of any Default. Any payment by Mortgagee
or acceptance by Mortgagee of any partial payment shall not constitute a waiver by Mortgagee of any Default; (ii) Mortgagor represents that Mortgagor (a) is (1) an adult individual and is sui juris, or (2) a corporation,
general partnership, limited partnership, limited liability company or other legal entity, duly organized, validly existing and in good standing under the laws of its state of organization, and is authorized to do business in each other jurisdiction
wherein its ownership of property or conduct of business legally requires such organization (b) has the power and authority to own its properties and assets and to carry on its business as now being conducted and as now contemplated; and
(c) has the power and authority to execute, deliver and perform, and by all necessary action has authorized the execution, delivery and performance of, all of its obligations under this Mortgage and any other Loan Document to which it is a
party. (iii) The provisions hereof shall be binding upon and inure to the benefit of Mortgagor, its heirs, personal representatives, successors and assigns including, without limitation, subsequent owners of the Property or any part thereof,
and shall be binding upon and inure to the benefit of Mortgagee, its successors and assigns and any future holder of the Note or other Obligations; (iv) Any notices, demands or requests shall be sufficiently given Mortgagor if in writing and
mailed or delivered to the address of Mortgagor shown above or to another address as provided herein and to Mortgagee if in writing and mailed or delivered to the address of Mortgagee first shown above and Universal City Development Partners, Ltd.,
1000 Universal Studios Plaza, Orlando, Florida 32819, attention: Peter C. Giacalone, or such other address as Mortgagee may specify from time to time and in the event that Mortgagor changes Mortgagor’s address at any time prior to the date the
Obligations are paid in full, that party shall promptly give 

 
written notice of such change of address by registered or certified mail, return receipt requested, all charges prepaid. Notices to Mortgagee must include
the mail code. (v) This Mortgage may not be changed, terminated or modified orally or in any manner other than by an instrument in writing signed by the parties hereto; (vi) All references to “Mortgagee” shall mean to
“Mortgagee (for itself and its affiliate)”; (vii) The captions or headings at the beginning of each paragraph hereof are for the convenience of the parties and are not a part of this Mortgage; (viii) If the lien of this Mortgage
is invalid or unenforceable as to any part of the Obligations, the unsecured portion of the Obligations shall be completely paid (and all payments made shall be deemed to have first been applied to payment of the unsecured portion of the
Obligations) prior to payment of the secured portion of the Obligations and if any clause, provision or obligation hereunder is determined invalid or unenforceable the remainder of this Mortgage shall be construed and enforced as if such clause,
provision or obligation had not been contained herein; (ix) This Mortgage shall be governed by and construed under the laws of the jurisdiction where this Mortgage is recorded; (x) Mortgagor by execution and Mortgagee by acceptance of this
Mortgage agree to be bound by the terms and provisions hereof). 
 21. FINAL AGREEMENT. This Agreement and the Note represent the final agreement
between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties. There are no unwritten oral agreements between the parties. 
 IN WITNESS WHEREOF, Mortgagor has signed and sealed this instrument as of the day and year first above written. 
  

					
	Mortgagor	 	
		
	 Daniel Corporation
	 	
			
	By:	 	  	 	 (SEAL)

		 	Laila Witwicky	 	
			
	 Its:
	 	  	 	

  

			
	 State of
	 	  
		
	 County of
	 	  

 L. L. C. Acknowledgment 
 I certify that before me appeared this day Laila Witwicky, a person known to me, who after being sworn stated he/she is
                                        
                     of Daniel Corporation, a Florida corporation company and is duly authorized to act on behalf of said Corporation, and being
informed of the contents thereof, acknowledged execution of the foregoing instrument on behalf of said Corporation. 
 Witness my hand and official seal,
this                      day of December, 2006. 
  

							
		 		 	  	 	, Notary Public
				
	 Notary Seal
	 		 	   	 	   
		 		 	(Printed Name of Notary)	 	
			
		 		 	 My Commission Expires:_____________________________________

 EXHIBIT “A” 
 to the Mortgage and Security Agreement 
 LEGAL DESCRIPTION 
 Lot 7 OF THE REPLAT OF UNIVERSAL CITY/FLORIDA PLAT 1, according to the Plat thereof, as recorded in Plat Book 22, Pages 1 and 2, Public Records of Orange
County, Florida. 

 Exhibit “D” 
 to the Contract for Sale and Purchase 
 Permitted Exceptions 

The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 
  

	 	1.	Taxes and assessments for the year 2006 and subsequent years. 

  

	 	2.	Agreement by and between City of Orlando, and Major Realty Corporation, a Delaware corporation (the “Agreement”) dated February 12, 1968, and recorded
February 27, 1968, in Official Records Book 1709, Page 813; Partial Release from Requirements of Developer’s Agreement recorded in Official Records Book 3133, Page 1126; Partial Release from Requirements of Developers Agreement recorded
May 27, 1981, in Official Records Book 3196, Page 1645; Partial Release from Requirements of Developers Agreement recorded October 14, 1981, in Official Records Book 3230, Page 2540; Partial Release from Requirements of Developers
Agreement recorded April 24, 1985, in Official Records Book 3632, Page 2364; Amendment to Developers Agreement recorded January 5, 1993, in Official Records Book 4509, Page 911; Second Amendment to Developers Agreement recorded
April 21, 1995, in Official Records Book 4882, Page 1175; Stipulated Settlement Agreement recorded April 16, 1993, in Official Records Book 4550, Page 3223, all of the Public Records of Orange County, Florida. 

  

	 	3.	Declaration of Covenants and Restrictions by Major Realty Corporation, recorded August 24, 1978, in Official Records Book 2924, Page 1925; Partial Release of Declaration of
Covenants and Restrictions recorded January 5, 1993, in Official Records Book 4509, Page 906; Partial Release of Declaration of Covenants and Restrictions recorded January 27, 1995, in Official Records Book 4849, Page 1096, all of the
Public Records of Orange County, Florida. 

  

	 	4.	Amended Agreement for “Sanitary Sewer Service” by and between the City of Orlando, MCA, Inc., a Delaware corporation, and Universal City Property Management Company, a
Delaware corporation, recorded May 13, 1983, in Official Records Book 3376, Page 2799; Assignment and Assumption of Amended Agreement for Sanitary Sewer Service from Universal City Property Management Company, a Delaware corporation, Assignor,
and Universal City Development Partners, a Florida general partnership, and Universal City Florida Partners, a Florida general partnership, Assignee, recorded April 2, 1996, in Official Records Book 5035, Page 1269; First Amendment to Amended
Agreement for “Sanitary Sewer Service”, recorded April 16, 1996, in Official Records Book 5042, Page 2364, all of the Public Records of Orange County, Florida. 

  

	 	5.	Unrecorded Transportation Impact Agreement dated November 25, 1987, by and between the City of Orlando, and Universal City Florida Partners, a Florida general partnership;
First Amendment to Universal Studios/Florida Transportation Impact Agreement recorded June 8, 1988, in Official Records Book 3987, Page 3523; Second Amendment to Universal Studios/Florida Transportation Impact Agreement recorded
October 12, 1988, in Official Records Book 4022, Page 855, all of the Public Records of Orange County, Florida. 

  

	 	6.	Turkey Lake Road and Public Services Agreement by and between the City of Orlando, Florida and the Major-Pru Development Joint Venture, a Florida general partnership, recorded
January 18, 1989, in Official Records Book 4048, Page 4304; Amendment and Modification of Turkey Lake Road and Public Service Agreement recorded January 6, 1993, in Official Records Book 4509, Page 4858, Public Records of Orange County,
Florida. 

  

	 	7.	The provisions of that certain Right of Way Encroachment and Removal Agreement by and between Universal City Florida Partners, a Florida general partnership, and the City of
Orlando, recorded August 23, 1989, in Official Records Book 4108, Page 4502, Public Records of Orange County, Florida. 

	 	8.	Universal Studios Vested Rights Settlement Agreement by and between Universal City Florida Partners, a Florida general partnership, and Universal City Development Partners, a
Florida general partnership, and the City of Orlando, recorded April 7, 1994, recorded in Official Records Book 4723, Page 999, as amended by Amendment of Universal Studio’s Vested Rights Settlement Agreement recorded in Official Records
Book 7218, Page 1410, Public Records of Orange County, Florida. 

  

	 	9.	Interstate 4/Republic Drive Community Redevelopment Area “Tri-Party Development Agreement” by and between the Community Redevelopment Agency of the City of Orlando,
Florida, the City of Orlando and Universal City Development Partners, a Florida general partnership, recorded April 19, 1996, in Official Records Book 5044, Page 3973, Public Records of Orange County, Florida. 

  

	 	10.	Grant of Drainage Easement (Beneficial Easement) by and between Belz Investment company, Inc., Grantor, and MCA, Inc., Grantee, recorded May 29, 1981, in Official Records Book
3197, Page 499; Assignment of Drainage Easement Rights by and between MCA, Inc., Grantor, and Universal City Property Management Company, Grantee, recorded July 10, 1981, in Official Records Book 3207, Page 390; Assignment of Easement Rights by
and between MCA, Inc., Assignor, and Universal City Florida Partners, a Florida general partnership, Assignee, recorded December 22, 1987, in Official Records Book 3945, Page 715; unrecorded Partial Assignment of Drainage Easement Rights from
Universal City Property Management Company to Major Realty Corporation, as referred to in the Assignment recorded January 5, 1993, in Official Records Book 4509, Page 920; Assignment of Easement Rights by and between Major Center, a Florida
general partnership, formerly known as The Major-Pru Development Joint Venture, a Florida general partnership and Major Realty Corporation, a Delaware corporation, Assignor, and Universal City Development Partners, a Florida general partnership;
Assignee, recorded January 5, 1993, in Official Records Book 4509, Page 920, all of the Public Records of Orange County, Florida. 

  

	 	11.	Grant of Drainage Easement (Beneficial Easement) by and between Martin S. Belz, Grantor, and MCA, Inc., Grantee, recorded June 19, 1981, in Official Records Book 3202, Page
1384; Assignment of Drainage Easement Rights by and between MCA, Inc., Grantor, and Universal City Property Management company, Grantee, recorded July 10, 1981, in Official Records Book 3207, Page 390; Assignment of Easement Rights by and
between MCA, Inc., Assignor, and Universal City Florida Partners, a Florida general partnership Assignee, recorded December 22, 1987, in Official Records Book 3945, Page 715; unrecorded Partial Assignment of Drainage Easement Rights from
Universal City Property Management Company to Major Realty Corporation, as referred to in the Assignment recorded January 5, 1993, in Official Records Book 4509, Page 920; Assignment of Easement Rights by and between Major Center, a Florida
general partnership, formerly known as The Major-Pru Development Joint Venture, a Florida general partnership and Major Realty Corporation, a Delaware corporation, Assignor, and Universal City Development Partners, a Florida general partnership,
Assignee, recorded January 5, 1993, in Official Records Book 4509, Page 920, all of the Public Records of Orange County, Florida. 

  

	 	12.	Access and Maintenance Rights in and to that certain Deed of Easement from Universal City Florida Partners, a Florida general partnership, Grantor and Southern Bell Telephone and
Telegraph Company, Grantee, recorded February 25, 1988, in Official Records Book 3960, Page 1544, Public Records of Orange County, Florida. 

  

	 	13.	Water Easement by and between Universal City Florida Partners, a Florida general partnership, Grantor, and The City of Orlando and the Orlando Utilities Commission, Grantee,
recorded January 6, 1989, in Official Records Book 4046, Page 567, Public Records of Orange County, Florida. 

  

	 	14.	Easement Reservation Agreement by and between Universal City Development Partners, a Florida general partnership and Universal City Florida Partners, a Florida general partnership,
and the City of Orlando, recorded December 21, 1995, in Official Records Book 4991, Page 415, Public Records of Orange County, Florida. 

  

	 	15.	Drainage Agreement by and between the City of Orlando, and Universal City Development Partners, a Florida general partnership, and Universal City Florida Partners, a Florida general
partnership, recorded December 21, 1995, in Official Records Book 4991, Page 446, Public Records of Orange County, Florida. 

	 	16.	Underground Easement (Water) by and between Universal City Development Partners, a Florida general partnership, and Universal City Florida Partners, a Florida general partnership,
Grantor, and the City of Orlando, and the Orlando Utilities Commission, Grantee, recorded December 21, 1995, in Official Records Book 4991, Page 470, Public Records of Orange County, Florida. 

  

	 	17.	Underground Easement (Electric) by and between Universal City Development Partners, a Florida general partnership, and Universal City Florida Partners, a Florida general
partnership, Grantor, and the City of Orlando, and the Orlando Utilities Commission, Grantee, recorded December 21, 1995, in Official Records Book 4991, Page 487, Public Records of Orange County, Florida. 

  

	 	18.	Eight foot (8’) sidewalk landscaping and traffic control signalization easement as set forth on the Plat of Replat of Universal City/Florida Plat 1, according to the Plat
thereof, as recorded in Plat Book 22, Pages 1 and 2, and as depicted on the Plat of Universal City Florida, according to the Plat thereof, as recorded in Plat Book 35, Pages 84 through 87, all of the Public Records of Orange County, Florida.

  

	 	19.	Easement and Use Restriction Agreement by UNIVERSAL/CINEPLEX ODEON JOINT VENTURE, a Florida general partnership and UNIVERSAL CITY FLORIDA PARTNERS, dated June 11, 1998,
recorded June 16, 1998, in Official Records Book 5505, Page 2683, Public Records of Orange County, Florida. 

  

	 	20.	Memorandum of Ground Lease between UNIVERSAL CITY DEVELOPMENT PARTNERS, a general partnership (Landlord), UCF HOTEL VENTURE, a general partnership (Tenant) dated June 12, 1998,
recorded June 26, 1998, in Official Records Book 5512, Page 3855, Public Records of Orange County, Florida. 

  

	 	21.	Resort Covenants and Reciprocal Easement Agreement by and among UNIVERSAL CITY FLORIDA PARTNERS, UNIVERSAL CITY DEVELOPMENT PARTNERS, and UCF HOTEL VENTURE, dated June 12,
1998, recorded June 26, 1998, in Official Records Book 5512, Page 3886, as amended by Second Amendment to Ground Lease recorded in Official Records Book 6198, Page 4666, as amended by Third Amendment to Ground Lease recorded in Official Records
Book 7998, Page 1897, Public Records of Orange County, Florida. 

 Exhibit “E” 
 to the Contract for Sale and Purchase 
 Restrictive Covenants 

THIS INSTRUMENT PREPARED BY 
 AND SHOULD BE RETURNED TO:

 Peter G. Latham, Esq. 
 GRONEK & LATHAM, LLP 
 390 North Orange Avenue, Suite 600 
 Orlando, Florida 32801 
 (407) 481-5800 
 For Recording Purposes Only 
 DECLARATION OF RESTRICTIVE COVENANTS 
 THIS DECLARATION OF RESTRICTIVE
COVENANTS (this “Declaration”) is made and entered into this _______ day of December, 2006, by and between UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD, a Florida limited partnership (“UCDP”) and DANIEL CORPORATION,
a Florida corporation, (the “Buyer”). 
 WITNESSETH 
 WHEREAS, Buyer has of even date herewith purchased from UCDP certain real property located in Orange County, Florida which is more particularly
described on Exhibit “A” attached hereto and incorporated herein by this reference (the “Buyer’s Property”); and 
 WHEREAS, UCDP continues to own certain property more particularly described on Exhibit “B” attached hereto and incorporated herein by this reference (the “UCDP Property”); and

 WHEREAS, UCDP desires to protect rights, benefits, uses, and enjoyment of the UCDP Property, and as a result, have agreed to impose
certain restrictions and limitations upon the Buyer’s Property. 
 NOW, THEREFORE, in consideration of the mutual premises,
covenants, and agreement herein made and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 
 1. Recitals. The foregoing recitals are true and correct and incorporated herein by this reference. 
 2. Specific Prohibitions, Restriction or Limitation on Use of Buyer’s Property. Buyer does hereby declare that the Buyer’s
Property shall be used, occupied, and enjoyed subject to the following restrictions and limitations: 
 a. Tourist Attraction
Prohibition. The development or utilization of the Buyer Property as a Tourist Attraction (as hereinafter defined) shall be prohibited. For the purposes of this Declaration, the term “Tourist Attraction” shall mean a theme park,
amusement park, water park (all being either permanent or temporary in nature), entertainment/retail facility, themed entertainment facility, themed dining facility, motion picture cinema, filmed production facilities, or similar tourist or visitor
park, center, site, show or attraction (whether or not an admission is charged). 
  

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 b. Acknowledgment and Waiver of Tourist Attraction on UCDP Property. Buyer expressly acknowledges
and understands that the UCDP Property is developed and utilized as a Tourist Attraction with hotel, entertainment and dining venues and other ancillary uses. Buyer consents to, and expressly waives the right to object to, or otherwise support,
directly or indirectly, the objection by others to the emission of pyrotechnics, noises, light, smells, odors and/or vibrations (collectively, “Emissions”) which are permitted, or otherwise authorized, by any governmental authority having
auspices there over and Buyer agrees that any such Emission does not, and shall not, constitute a nuisance to Buyer or Buyer’s Property. Buyer further expressly acknowledges and understands that any undeveloped portion of the UCDP Property may
be developed or utilized for Tourist Attraction, hotel or other uses ancillary thereto and expressly waives the right to object or otherwise support directly or indirectly, the objection by others to such development or utilization and any Emissions
emanating therefrom. 
 c. Office and Limited Commercial Uses. The Buyer’s Property shall be used only for professional office
uses and the first floor of any buildings upon the Buyer’s Property (of up to 40,000 square feet) may be used for Neighborhood Commercial with the consent of UCDP, which will not be unreasonably withheld or delayed except that the following
uses shall not be permitted: (i) any uses prohibited in other provisions of this Declaration (ii) the sale of adult entertainment, books, videos, CD’s or other similar materials (iii) amusement or arcade uses (iv) hotels,
motels or timeshare uses. The building or building on the Buyer’s Property will not exceed an aggregate of 120,000 square feet in gross space as measured by the City of Orlando for building permit purposes. The Buyer’s Property and
any building or improvement to be erected thereon shall be used sole in accordance with the forgoing limitations, notwithstanding that other uses may be permitted by the applicable zoning or other ordinances now or in the future affecting the
Buyer’s Property. Further, notwithstanding any of the foregoing and even though such use may constitute a permitted use under this Declaration, in no event shall the Buyer’s Property be used for any residential purposes, child care center,
playgrounds, parks or other outdoor recreational activities, school, elder care facility, nursing home or hospital. 
 d. Restriction on
the Alcohol Sales or Service; Live Entertainment. Except as specifically provided in this subsection 2.d., no alcoholic beverages shall be sold or served (regardless of consideration being paid or not) upon the Buyer’s Property. No public
display of live entertainment shall occur on Buyer’s Property. The Buyer’s Property may contain up to 6,500 square feet of gross space within a building of which (i) 70% of such space may be occupied by a restaurant that serves beer,
wine or other alcoholic beverages in a restaurant under a restaurant liquor license provided the aggregate sales of beer, wine and alcoholic beverages do not exceed twenty percent (20%) of the gross sales for such restaurant and (ii) of
which the remaining 30% may have an establishment that may sell beer and wine only but will not be required to sell food. Out door seating, sidewalk usage or similar areas will be considered part of the square footage for determining compliance with
the forgoing. Any restaurant occupying space under item (i) shall not be run in conjunction with or affiliation with the establishment under section (ii). All beer, wine and other alcoholic beverages permitted by this subsection 2.d. shall only
be sold or served only between the hours of 11:30 am and 10:00 pm eastern time. 
 e. Architectural, Building, Landscaping, Signage and
Site Plan Approval. No building structure, signage, landscaping infrastructure or other improvements shall be permitted upon the Buyer’s Property unless and until the Seller has approved the same, which approval shall not be reasonably
withheld. In addition, any owner or occupant of Buyer’s Property shall adhere to the following restrictions: 
 i. Buyer
shall not seek any direct access to Turkey Lake Road except only a dedicated “right-in-only” entrance designed in a location and manner approved by Seller. 
  

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 ii. No sign shall be constructed or erected upon the roof of any structure within the
Property, unless prior written approval is obtained from UCDP, which approval may be granted or withheld at UCDP’s sole and absolute discretion. For purposes hereof, signs shall mean and include any structure, landscaping, banner, flags,
fabric, device or display which bears lettered, pictorial or sculptured material, including forms shaped to resemble any human, animal or product, designed to convey information or images and which is exposed to public view. In cases where matter is
displayed in a random or unconnected manner without organized relationships of the components, each of the components shall be considered to be a single sign. 
 iii. No trailer signs or other portable signs shall be allowed on any part of the Property at any time unless written approval is first
obtained from UCDP, which approval may be granted or withheld at UCDP’s sole and absolute discretion. 
 iv. Once
approved, no sign, lettering, advertising or lighting erected or placed on any Site or building upon a Site shall be modified or changed without prior written approval of UCDP, which approval may be granted or withheld at UCDP’s sole and
absolute discretion. 
 f. Competing Imagery Prohibition. Buyer shall be prohibited, both on the Buyer’s Property and in
connection with the use of the Buyer’s Property, from: (i) promoting, marketing or selling any product or service associated with or relating to any Entertainment Company (as hereinafter defined); (ii) placing or disseminating (or
allowing the placement or dissemination of) any promotional materials or products which relate to any Entertainment Company; (iii) engaging in any promotional, affiliate, participant, sponsorship, joint marketing, advertising or similar
relationships (collectively, “Marketing Activities”) with, or in conjunction with, or identifying any Entertainment Company, or (iv) use the Buyer’s Property in conjunction with any Entertainment Company, without UCDP’s
written approval which approval may be granted or withheld at UCDP’s sole and absolute discretion. For purposes of this Declaration, the term “Entertainment Company shall mean any person or entity engaged in one or more of the following
businesses: (A) Tourist Attraction; or (B) creation, production, development or distribution of video tapes, records, books, compact discs, audio tapes, laser discs or other similar means of reproducing video or audio; (C) interactive
computer and other video or audio based games; or (D) production of filmed entertainment programming (including, but not limited to motion pictures and television), production distribution, creation or airing of filmed entertainment programming
or other forms of multi-media. 
 g. Name Prohibition. Except for the use of the words “Universal Plaza” together as a
description of location such as “The Medical Center at Universal Plaza”, Buyer acknowledges and agrees that Buyer does not have any rights to, nor shall Buyer, either on Buyer’s Property or in connection with the use of Buyer’s
Property: 
 i. Use the “Universal Studios”, “Universal Studios Florida”, “Islands of
Adventure”, “City Walk” or “Universal Orlando” mark, either alone or in conjunction with, or as a part of, any other word, mark, name or title, or as a part of the names and/or titles of Buyer’s Property or any
improvements located thereon, or for any other purpose. 
 ii. Use the name “Universal” or any variation thereof,
either alone or in conjunction with (except as provided for in the first sentence of Section 2.g), or as a part of, any other word, mark, name or title, including, but not limited to a part of the names and/or titles of Buyer’s Property or
any improvements thereon, or for any other purpose and shall, upon replatting of Buyer’s Property, remove any and all references to the name “Universal”. 
 iii. Use, reproduce, sell, distribute, display or exploit the “Universal Studios” mark, name or symbol or any other mark, name
or symbol or the copyrighted works owned by Universal Studios, UCDP or any of UCDP’s affiliates. 
  

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 h. Offensive Trade or Activity. No noxious, offensive or illegal materials or activity shall be
conducted, kept or permitted on the Property which will cause emission of offensive dust, smoke, odors, gases, light or noises, or which may be or become a nuisance, safety hazard or an unreasonable annoyance to UCDP Property or the neighborhood
(“neighborhood” includes real estate both outside as well as within the boundaries of the Buyer’s Property). The foregoing provisions shall not prohibit matters necessarily resulting from excavation and construction work which is
conducted in accordance with the usual, lawful and customary procedures incident to such excavation or construction work. Any trade, activity or material (which terms include anything capable of being discerned by the human senses which, in any
manner, is offered or made available to the public, and also includes any form of advertising) which is pornographic, obscene, lewd or lascivious shall be deemed to be noxious or offensive trade, activity or matter. UCDP reserves the right, in its
sole and absolute discretion, to determine whether or not a trade, activity or material is pornographic, obscene, lewd or lascivious. The Association reserves the right in the Rules and Restrictions to establish limitations on activities reasonably
likely to result in a violation of this Section 2.2.1. 
 i. Vehicular Access. Except for a right in only access from Turkey Lake
Road, no curb cuts, access roads, driveways or other method of vehicular access to or from a public road from any Site shall be created, constructed, or installed, or thereafter modified or altered, in any way without the approval of UCDP, which
approval may be granted or withheld at UCDP’s sole and absolute discretion. 
 j. Groundwater Use Restriction. No part of the
Buyer’s Property may contain a well or other means of extracting groundwater upon it and no groundwater shall be used for any purpose whatsoever, including, without limitation, industrial, commercial, drinking or irrigation purposes.

 3. Specific Maintenance Obligations. 
 a. Buyer’s Property Maintenance. Buyer shall cause all Buildings, structures, signage, landscaping, infrastructure or improvements placed, constructed upon the Buyer’s Property to be maintained in a
first class manner. In the event UCDP believes this Section 3 is being violated, UCDP may send a written notice to Buyer notifying Buyer, with reasonable specificity, of the breaches. Buyer shall have a period of thirty (30) days or such
reasonable time greater than thirty (30) days but not more than ninety (90) days to cause to be corrected, repaired, or replaced to meet the first class standard requirements hereof. If Buyer shall fail to cause such cure, UCDP may,
without liability or obligation, cause such repairs or maintenance to occur and any sums expended by UCDP shall become a lien on the Buyer’s Property, which lien shall date back to and have a priority as if recorded with this Declaration
provided however, such lien shall be subordinate to a first mortgage lien to the extent the same does not exceed 80% of the fair market value of the Buyer’s Property. 
 b. Payment for Landscape Maintenance. 
 i. Maintenance Costs. Each Owner of any the Buyer’s Property, or any portion thereof, (by acceptance of a deed thereof, whether or not it shall be so expressed in any such deed or other conveyance)
including any purchaser at a judicial sale, shall hereafter be deemed to covenant and agree to pay to UCDP costs, assessments or charges for maintenance capital improvements or major repair of the Buyer’s Property as provided in accordance with
Section 3.a, as are incurred by UCDP from time to time as herein provided (“Maintenance Costs”). 
  

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 ii. Landscape Buffer Maintenance. UCDP shall be responsible for the maintenance
and upkeep of the Landscape Buffer (as hereinafter defines) and the Owner of the Buyer’s Property shall be responsible for the cost and expense as UCDP may, from time to time, incur in conjunction therewith in the assessment method set forth on
Exhibit C, attached hereto and incorporated herein by this reference. UCDP maintenance obligations shall include repairs, maintenance, gardening, landscaping, cleaning, and other similar activities. UCDP shall maintain all such items in good
operating condition and at a standard consistent at least with the quality of its immediately adjacent office building. 
 iii. All such assessments, together with interest thereon from the due date at the rate of twelve percent (12%) per annum, or the highest rate allowable by law, and costs of collection thereof (including reasonable attorney’s
fees), shall be charged on the Buyer’s Property and shall be a continuing lien upon the Site against which each such assessment is made, and shall also be the personal obligation of the Owner. No Owner of the Buyer’s Property may waive or
otherwise escape liability for the assessments provided for herein. 
 c. Lien Enforcement. 
 i. Lien. The lien of UCDP upon the Buyer’s Property shall be continuing and effective from and after the recording of this
Declaration in the Public Records of Orange County, Florida, but shall not be foreclosed unless a claim of lien stating the description of the site encumbered thereby, the name of the Owner, the amount, and the date due has been recorded upon the
Public Records of Orange County, Florida. Such claim of lien shall include only assessments that are due and payable when the claim of lien is recorded, plus interest, costs, attorney’s fees, advances to pay taxes and prior encumbrances, and
interest thereon, all as above provided. Such claims of lien shall be signed and verified by an officer or agent of the Association. Upon full payment of all sums secured by such claim of lien, the same shall be satisfied of record. 
 If the assessment is not paid within thirty (30) days after the delinquency date, which shall be set by the Board, the assessment shall bear
interest from the date due at the highest rate allowable at law, and UCDP may at any time thereafter bring an action to foreclose the lien against the Buyer’s Property in like manner as a foreclosure of the mortgage on real property, and a suit
on the personal obligation against the Owner(s), and there shall be added to the amount of such assessment the cost of preparing, filing and prosecuting the complaint in such action (including a reasonable attorneys fee), and in the event a judgment
is obtained, such judgment shall include interest on the assessment as above provided and a reasonable attorneys fee to be fixed by the Court, together with costs of the action. 
 4. Effect of Declaration. 
 a.
Covenants Running with Land. This Declaration and each and every one of the covenants, conditions, limitations and restrictions contained herein are hereby declared to be, and shall hereafter continue as, covenants running with the title to
Buyer’s Property, Commercial Corner Property and Adjacent Property. 
 b. Property Affected. This Agreement and the covenants,
conditions, limitations and restrictions set forth herein shall be binding upon, inure to the benefit of and constitute a burden upon all of the Buyer’s Property, in accordance with the terms set forth herein. Accordingly, all portions of land
within the Buyer’s Property shall hereafter be owned, held, transferred, sold, conveyed, demised, devised, assigned, leased, mortgaged, occupied, used and enjoyed subject to and benefited and burdened by the terms and provisions of this
Declaration. 
  

 5 

 c. Parties Affected. Except as hereinafter specifically provided, this Declaration shall be
binding upon and inure to the benefit of all owners of the Buyer’s Property, affected and encumbered by this Declaration. Accordingly, each and every person or party who or which shall hereafter acquire, have or claim any right, title,
entitlement or interest in or to any lot, piece, parcel or tract of land within the Buyer’s Property, whether by, through or under a party or any subsequent owner, shall, by virtue of the acceptance of any such right, title, interest,
entitlement or claim, whether by deed or other instrument, or by operation of law or otherwise, and whether voluntarily or involuntarily, be deemed to have acquired or accepted such right, title, interest, entitlement or claim in or to any such
tract of the Buyer’s Property, subject to and benefited and burdened by the covenants, conditions, limitations, restrictions, and reservations set forth in this Declaration the same as if such person or party had specifically joined in and
agreed and consented to each and every one of the terms and provisions of this Declaration. 
 d. Duration. The terms and provisions
of and covenants, conditions, limitations and restrictions set forth in this Declaration shall continue and be binding upon the parties, their respective successors and assigns and all owners or other persons claiming through or under any of them in
perpetuity, unless the same are amended, modified or terminated as provided in this Declaration. 
 5. Enforcement. 

a. Persons Entitled to Enforce. This Declaration, the terms, provisions, covenants, conditions, limitations and restrictions herein, as
properly changed, modified or amended from time to time shall be enforceable by each owner of the Buyer’s Property, UCDP Property, as well as by UCDP regardless of whether UCDP shall have title to any portion of the UCDP Property. 

b. Nuisance. The result of every act or omission where any term or provision of or covenant, condition or restriction set forth in this
Declaration is violated breached or in default in whole or in part is hereby declared to be a nuisance, and every remedy allowed by law or in equity against a nuisance, either public or private, shall be applicable against every such result, and may
be exercised by the parties, any owner of the Buyer’s Property or the UCDP Property. 
 c. Legal Proceedings. In the event that
any party entitled to institute a legal proceeding under this Declaration institutes legal proceedings against any other party to this Declaration, the prevailing party in said legal proceedings shall be entitled to recover reasonable
attorneys’ fees, including those incurred on appeal, and court costs incidental thereto from non-prevailing party. 
 d. Specific
Remedy. The parties acknowledge that UCDP, and any owner of the UCDP Property, shall suffer irreparable harm if any owner of the Buyer’s Property, shall default in the performance of its obligations pursuant to Section 2 of this
Declaration and that such harm cannot adequately be remedied by monetary compensation. Accordingly, each party hereto agrees that UCDP shall be entitled, in addition to all remedies available at law or in equity, to injunctive relief to require
performance as required pursuant to this Declaration and each owner of the Buyer’s Property, any defense or claim that UCDP, or any owner, UCDP Property, would not be irreparably harmed or that UCDP, or any owner of the UCDP Property has not
suffered harm that could adequately be monetarily or otherwise compensated. In connection with any action by UCDP or any owner of the UCDP Property for injunctive relief, specific performance, or similar remedy, each owner of the Buyer’s
Property waives any requirement for the posting of a bond or other financial security. 
  

 6 

 e. Remedies Cumulative. In connection with the enforcement of this Declaration, all rights and
remedies of UCDP or any owner of the Buyer’s Property or UCDP Property, to the extent provided herein, at law or in equity shall be cumulative, and no single right or remedy shall be exclusive of any other, and UCDP, and any owner of the
Buyer’s Property or UCDP Property, shall have the right to pursue any one or all of such rights or any other right or remedy available at law or in equity, whether provided in this Declaration or otherwise. 
 6. Notices and Communications. Whenever any party hereto desires or is required to give any notice, demand, consent, approval,
satisfaction, or request with respect to this Declaration, each such communication shall be in writing and shall be effective only if it is delivered by personal service (which shall include delivery by delivery service, over-night delivery service,
telecopy, or telefax), or mailed, by United States certified mail, postage prepaid, and addressed as follows: 
  

			
	If to UCDP, to:	  	UNIVERSAL CITY DEVELOPMENT PARTNERS
		  	1000 Universal Studios Plaza
		  	Orlando, Florida 32819-7610
		  	Attn: President
		
	with copies to:	  	UNIVERSAL CITY DEVELOPMENT PARTNERS
		  	1000 Universal Studios Plaza
		  	Orlando, Florida 32819-7610
		  	Attn: General Counsel
		
		  	and
		
		  	GRONEK & LATHAM, LLP
		  	390 North Orange Avenue, Suite 600
		  	Orlando, Florida 32801
		  	Attn: Peter G. Latham, Esq.
		
	If to Buyer:	  	DANIEL CORPORATION,
		  	623 Maitland Avenue
		  	Altamonte Springs, Florida 32701
		  	Attn: Laila Witwicky
		
	with a copy to:	  	_______________________
		  	_______________________
		  	_______________________
		  	_______________________

 Such communications, when personally delivered, shall be effective upon receipt, but, if sent by certified mail in
the manner set forth above, shall be effective three (3) business days following deposit in the United States mail. Any party may change its address for such communications by giving notice thereof to all other parties in accordance with the
requirements of this section. 
 7. Applicable Law; Exclusive Jurisdiction; Waiver of Jury. This Declaration shall be construed
and enforced in accordance with the internal laws of the state of Florida (i.e., without reference its conflicts of Laws provisions or the principles of comity). Each owner of the Buyer’s Property or UCDP Property, consents to the
exclusive jurisdiction and venue of the federal and state courts with jurisdiction in Orange County, Florida, for a resolution of all disputes in connection with the interpretation, construction, or enforcement of this Declaration (including,
without limitation, any Exhibits attached hereto), and hereby waives the claim or defense that such courts constitute an inconvenient forum. To the fullest extent permitted by law, each owner of the Buyer’s Property do hereby waive the right
to trial by jury in any proceeding, hearing or action related to or arising out of this Declaration. 
  

 7 

 8. Severability. If any term or provision of this Declaration is finally held, in any
non-appealable proceeding by a court of competent jurisdiction, to be invalid or unenforceable, such term or provision shall be deemed limited by construction in scope or effect to the minimum extent necessary to render the same valid and
enforceable, and, in the event no such limiting construction is possible, such invalid or unenforceable term or provision shall be deemed severed from this Declaration without affecting the validity of any other term or provision hereof. 

9. Construction of Declaration. This Declaration has been negotiated by the respective parties hereto, and the language of this
Declaration shall not be construed for or against any party. Whenever from the context of this Declaration it appears appropriate, each term of this Declaration in either the singular or plural shall include both, and pronouns stated in any gender
shall include the masculine, the feminine, and the neuter, as appropriate. The parties intend that each covenant contained in this Declaration shall have independent significance. If any party is in breach of any covenant contained in this
Declaration in any respect, the fact that there exists another covenant relating to the same subject matter (regardless of the relative levels of specificity) as to which such party is not in breach shall not detract from or mitigate the fact that
such party is in breach of such first described covenant. 
 10. Entire Declaration; Amendments and Waivers. This Declaration
constitutes the entire agreement among the parties pertaining to the subject matter hereof, and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written, of the parties hereto. Except as provided
hereinafter, no supplement, modification, or waiver of this Declaration shall be binding unless executed in writing by all parties to be bound thereby. No waiver of any provision of this Declaration shall be deemed to constitute a waiver of any
other provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided therein. At all times, and regardless of whether UCDP shall hold title to, or have rights in or to, any portion
of the UCDP Property, UCDP, its successors and/or assigns, shall be entitled to and empowered to execute any modification, waiver or amendment to this Declaration as UCDP, its successors and/or assigns, in its sole discretion, deems beneficial, for
and on behalf of any and all owners of any portion or any interest whatsoever in the UCDP Property. 
 [The remainder of this page
intentionally left blank] 
  

 8 

 IN WITNESS WHEREOF, the parties have hereunto executed this Declaration and have intended the same
to become effective as of the day and year first above written. 
  

											
		 		 		 	UCDP:
	 Signed, sealed and delivered in the presence of:
	 		 	
		 		 		 	UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD., a Florida limited partnership
					
		 		 		 	 By: 
	 	Universal City Florida Holding Co. II, a Florida general partnership, a general partner
						
		 		 		 		 	 By: 
	 	Universal City Property Management Company II, a Florida general partnership, a general partner
					
	  	 		 		 	 By: 
	 	  
		 		 		 		 	 Name: 
	 	  
	 Printed Name: 
	 	  	 		 		 	 Its: 
	 	  
					
	  	 		 		 		 	
						
	 Printed Name: 
	 	  	 		 		 		 	
						
	 STATE OF 
	 	  	 		 		 		 	
						
	 COUNTY OF 
	 	  	 		 		 		 	

 I HEREBY CERTIFY that on this day before me, an officer duly authorized in the State and
County aforesaid to take acknowledgments, personally appeared ____________________________ as ___________________ of UNIVERSAL CITY PROPERTY MANAGEMENT COMPANY II, a general partner of UNIVERSAL CITY FLORIDA HOLDING CO. II, a general
partner of UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD., a Florida limited partnership and who [        ] is personally known to me or [        ]
produced __________________________ as identification, and that he acknowledged executing the same on behalf of said partnerships in the presence of two subscribing witnesses, freely and voluntarily, for the uses and purposes therein expressed.

 WITNESS my hand and official seal in the County and State last aforesaid this ____ day of ____________________, 2006. 

 

			
	
	   
	 Signature of Notary

	
	   
	 Name of Notary (Typed, Printed or Stamped)

	 Commission Number (if not legible on seal):
	 	 _______

			
	 My Commission Expires (if not legible on seal):
	 	 ____

  

 9 

									
	 Signed, sealed and delivered in the presence of:
	 		 	BUYER:
				
		 		 		 	 DANIEL CORPORATION, a Florida corporation

				
	  	 		 	 By: 
	 	  
		 		 		 	 Name: 
	 	  
	 Printed Name: 
	 	  	 		 	 Its: 
	 	  
				
	  	 		 		 	
					
	 Printed Name: 
	 	  	 		 		 	
					
	 STATE OF 
	 	  	 		 		 	
					
	 COUNTY OF 
	 	  	 		 		 	

 I HEREBY CERTIFY that on this day before me, an officer duly authorized in the State and
County aforesaid to take acknowledgments, personally appeared ____________________________ as ___________________ of DANIEL CORPORATION, a Florida corporation, and who
[        ] is personally known to me or [        ] produced __________________________ as identification, and that he acknowledged executing the same on
behalf of said ___________________ in the presence of two subscribing witnesses, freely and voluntarily, for the uses and purposes therein expressed. 
 WITNESS my hand and official seal in the County and State last aforesaid this _________ day of ______________________, 2006. 
  

			
	
	   
	 Signature of Notary

	
	   
	 Name of Notary (Typed, Printed or Stamped)

	 Commission Number (if not legible on seal):
	 	 _______

			
	 My Commission Expires (if not legible on seal):
	 	 ____

  

 10 

 EXHIBIT “A” 
 to the Declaration of Restrictive Covenants 
 Buyer’s Property

 Lot 7 OF THE REPLAT OF UNIVERSAL CITY/FLORIDA PLAT 1, according to the Plat thereof, as recorded in Plat Book 22, Pages 1 and 2,
Public Records of Orange County, Florida. 
  

 1 

 EXHIBIT “B” 
 to the Declaration of Restrictive Covenants 
 UCDP Property 
 PARCEL 1 
 Lots 6, 8, 9, 10, 12 and that certain private road
known as UNIVERSAL STUDIOS PLAZA, OF THE REPLAT OF UNIVERSAL CITY/FLORIDA PLAT 1, according to the Plat thereof, as recorded in Plat Book 22, Pages 1 and 2, Public Records of Orange County, Florida. 
 PARCEL 2 
 Lots 1A, 2A, 4A, 5A, 6A, 7A, and 11A, also Tracts A,
B, C, D and E, of UNIVERSAL CITY FLORIDA, according to the Plat thereof, as recorded in Plat Book 35, Pages 84 through 87, Public Records of Orange County, Florida. 
 TOGETHER WITH: 
 Lot 1 ROYAL PACIFIC RESORT, according to the Plat thereof as recorded in Plat Book 43, Pages 142 through
144, of the Public Records of Orange County, Florida. 
 LESS: 
 That portion of Lot 2A and Track D of UNIVERSAL CITY FLORIDA, according to the Plat thereof, as recorded in Plat Book 35, Pages 84 through 87, Public Records of Orange County, Florida, described as follows: 
 Begin at the Southernmost corner of said Track D; thence run S 48°10’00”W along the South line of said Lot 2A for a distance of 1270.11 feet; thence
leaving said Southerly line of Lot 2A run N 29°08’15”W for a distance of 565.30 feet; thence run N 77°25’12”E for a distance of 142.24 feet; thence run N 12°34’48”W for a distance of 320.00 feet; thence run
N 77°25’12”E for a distance of 86.06 feet; thence run N 12°34’48”W for a distance of 652.39 feet; thence N 04°32’39”W for a distance of 182.33 feet; thence run N 11°57’24”W for a distance of
136.26 feet; thence run N 24°16’38”W for a distance of 75.11 feet to a point on the Northerly line of said Lot 2A, said point also being a point on a non-tangent curve concave Northwesterly having a radius of 2080.00 feet and a chord
bearing of N 49°28’25”E; thence run the following 3 courses and distances along said Northerly line: thence run Northeasterly along the arc of said curve through a central angle of 22°08’02” for a distance of 803.52 feet
to the point of reverse curvature of a curve concave Southeasterly having a radius of 1020.00 feet; thence run Northeasterly along the arc of said curve through a central angle of 52°36’17” for a distance of 936.49 feet to the point of
compound curvature of a curve concave Southwesterly having a radius 40.00 feet; thence run Southeasterly along the arc of said curve through a central angle of 96°22’07” for a distance of 67.28 feet to a point on the East line of said
Lot 2A, said point also being the point of reverse curvature of a curve concave Southeasterly having a radius of 2663.00 feet; thence Southerly along the arc of said curve and the East line of Lot 2A through a central angle of
05°56’38” 276.26 feet to the point of tangency, thence run S 01°26’10”W along said East line for a distance of 398.87 feet to the Northernmost corner of said Tract D; thence run S 38°17’48”W along the
Easterly line of said Lot 2A for a distance of 54.65 feet to a point on a non-tangent curve concave Northwesterly having a radius of 425.00 feet and a chord bearing of S 23°22’10”W; thence run Southwesterly along the arc of said curve
through a central angle of 44°20’24” for a distance of 328.90 feet to the point of tangency, thence run S 45°32’22”W for a distance of 400.68 feet to the point of curvature of a curve concave Northeasterly having a radius
of 315.00 feet; thence run Southeasterly along the arc of said curve through a central angle of 147°28’01” for a distance of 810.74 feet to a non-tangent line; thence run S 11°54’32” for a distance of 65.22 feet to the
Point of Beginning. 
  

 1 

 PARCEL 3 (has been intentionally deleted) 
 PARCEL 4 
 Lot 1 of KINDERCARE AT UNIVERSAL CITY WEST,
according to the Plat thereof, as recorded in Plat Book 43, Page 131, of the Public Records of Orange County, Florida. 
 PARCEL 5 (has been intentionally deleted) 
 PARCEL 6 
 That part of Lot 8A, UNIVERSAL CITY FLORIDA, as recorded in Plat Book 35, Pages 84 through 87, of the Public Records of Orange County, Florida, described as follows: 
 Begin at the Southeast corner of said Lot 8A; thence run S 66°50’16” W along the Southerly line of said Lot 8A for a distance of 664.51 feet; thence run N
68°57’49” W along the southerly line of said Lot 8A for a distance of 492.44 feet to the Southwest corner of said Lot 8A; thence run N 21°02’11” E along the Westerly line of said Lot 8A for a distance of 105.40 feet to
the Southeast corner of Lot 13A of said UNIVERSAL CITY FLORIDA; thence run N 69°54’18” E for a distance of 252.85 feet; thence run S 74°23’57” E for a distance of 82.75 feet; thence run N 74°36’57” E for a
distance of 136.91 feet; thence run S 89°35’03” E for a distance of 140.00 feet; thence run N 53°21’56” E for a distance of 170.00 feet; thence run N 77°00’55” E for a distance of 65.00 feet; thence run N
47°20’46” E for a distance of 81.63 feet; thence run N 10°59’09” E for a distance of 177.30 feet; thence run N 12°40’41” W for a distance of 178.69 feet; thence run N 37°39’14” W for a distance
of 115.00 feet; thence run N 01°32’57” W for a distance of 410.31 feet to a point on the Easterly line of said Lot 8A; thence run S 49°13’14” E along said Easterly line for a distance of 44.19 feet to the point of
curvature of a curve concave Southeasterly having a radius of 937.00 feet and a chord bearing of S 12°06’07” E; thence run Southeasterly along the arc of said curve through a central angle of 74°14’15” for a distance of
1214.06 feet to the POINT OF BEGINNING. 
 AND TOGETHER WITH 
 That part of Lot 9A, UNIVERSAL CITY FLORIDA, as recorded in Plat Book 35, Pages 84 through 87, of the Public Records of Orange County, Florida, described as follows: 
 Commence at the Southwest corner of said Lot 9A; thence run N 21°02’11” E along the Westerly line of said Lot 9A for a distance of 72.51 feet to the POINT OF BEGINNING; thence continue N
21°02’11” E along said Westerly line of said Lot 9A for a distance of 115.00 feet; thence run S 68°57’49” E for a distance of 71.00 feet; thence run S 21°02’11” W for a distance of 115.00 feet; thence run N
68°57’49” W for a distance of 71.00 feet to the POINT OF BEGINNING. 
 AND TOGETHER WITH 
 That part of Lot 13A, UNIVERSAL CITY FLORIDA, as recorded in Plat Book 35, Pages 84 through 87, of the Public Records of Orange County, Florida, described as follows:

 Begin at the Southwest corner of said Lot 13A; thence run N 21°02’11” E along the Westerly line of said Lot 13A for a distance of 175.00
feet; thence run S 68°57’49” E for a distance of 150.00 feet; thence run S 27°32’24” E for a distance of 68.01 feet to the Easterly line of Lot 13A; thence run S 21°02’11” W along said Easterly line for a
distance of 130.00 feet to the Southeast corner of said Lot 13A; thence run N 68°57’49” W along the Southerly line of said Lot 13A for a distance of 201.00 feet to the POINT OF BEGINNING. 
 EASEMENT PARCEL ONE (EASEMENT ESTATE) 
 Those certain non-exclusive easements as set forth and described in that certain Resort Covenants and Reciprocal Easement Agreement by and between Universal City Development Partners, a Florida general partnership, Universal City Florida
Partners, 

  

 2 

 
a Florida general partnership, and UCF Hotel Venture, a Florida general partnership, dated as of June 12, 1998, and recorded June 26, 1998, in
Official Records Book 5512, Page 3886, as modified and amended by that certain First Amendment to Resort Covenants and Reciprocal Easement Agreement, dated as of February 20, 2001, and recorded February 21, 2001 in Official Records Book
6198, Page 4690 all of the Official Records Book of Orange County, Florida. 
 EASEMENT PARCEL TWO (EASEMENT
ESTATE) 
 Those non-exclusive drainage easement rights held in part by Universal City Development Partners, a Florida general partnership and held in part by
Universal City Florida Partners, a Florida general partnership as set forth and described in that certain Grant of Drainage Easement by and between Belz Investment Company, Inc., Grantor, and MCA, Inc., Grantee, dated April 30, 1981, recorded
May 29, 1981, in Official Records Book 3197, Page 499; as subsequently conveyed by Assignment of Drainage Easement Rights by and between MCA, Inc., Grantor, and Universal City Property Management Company, Grantee, recorded July 10, 1981,
in Official Records Book 3207, Page 390; Assignment of Easement Rights by and between MCA, Inc., Assignor, and Universal City Florida Partners, a Florida general partnership, Assignee, recorded December 22, 1987, in Official Records Book 3945,
Page 715; unrecorded Partial Assignment of Drainage Easement Rights from Universal City Property Management Company to Major Realty Corporation, as referred to in the Assignment recorded January 5, 1993, in Official Records Book 4509, Page 920;
Assignment of Easement Rights by and between Major Center, a Florida general partnership, formerly known as The Major-Pru Development Joint Venture, a Florida general partnership and Major Realty Corporation, a Delaware corporation, Assignor, and
Universal City Development Partners, a Florida general partnership; Assignee, recorded January 5, 1993, in Official Records Book 4509, Page 920, all of the Public Records of Orange County, Florida. 
 EASEMENT PARCEL THREE (EASEMENT ESTATE) 
 Those certain non-exclusive drainage easement rights held in part by Universal City Development Partners, a Florida general partnership and held in part by Universal City Florida Partners, a Florida general
partnership, as set forth and described in that certain Grant of Drainage Easement by and between Martin S. Belz, Grantor, and MCA, Inc., Grantee, recorded June 19, 1981, in Official Records Book 3202, Page 1384; as conveyed by Assignment of
Drainage Easement Rights by and between MCA, Inc., Grantor, and Universal City Property Management company, Grantee, recorded July 10, 1981, in Official Records Book 3207, Page 390; Assignment of Easement Rights by and between MCA, Inc.,
Assignor, and Universal City Florida Partners, a Florida general partnership Assignee, recorded December 22, 1987, in Official Records Book 3945, Page 715; unrecorded Partial Assignment of Drainage Easement Rights from Universal City Property
Management Company to Major Realty Corporation, as referred to in the Assignment recorded January 5, 1993, in Official Records Book 4509, Page 920; Assignment of Easement Rights by and between Major Center, a Florida general partnership,
formerly known as The Major-Pru Development Joint Venture, a Florida general partnership and Major Realty Corporation, a Delaware corporation, Assignor, and Universal City Development Partners, a Florida general partnership, Assignee, recorded
January 5, 1993, in Official Records Book 4509, Page 920, all of the Public Records of Orange County, Florida. 
 As of the effective date of this
Report the apparent record fee simple title owner(s) to the above described. 
  

 3 

 Exhibit “F” 
 to the Contract for Sale and Purchase 
 THIS INSTRUMENT PREPARED BY 
 AND SHOULD BE RETURNED TO: 
 Peter G.
Latham, Esq. 
 GRONEK & LATHAM, LLP 
 390 North Orange Avenue, Suite 600 
 Post Office Box 3353 
 Orlando, FL 32802-3353 
 (407) 481-5800 
 For Recording Purposes Only 
 ACCESS EASEMENT AND SANITARY SEWER AND 
 SURFACE WATER DRAINAGE
AGREEMENT 
 THIS ACCESS EASEMENT AND SANITARY SEWER AND SURFACE WATER DRAINAGE AGREEMENT (“Agreement”) is made and
entered into this day of December 2006, by and between the DANIEL CORPORATION, a corporation existing under the laws of the State of Florida (“DC”) and UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD., a Florida limited partnership
(“UCDP”). 
 WITNESSETH 
 WHEREAS, UCDP has, of even date herewith, sold to DC, certain real property located in Orange County, Florida which is more particularly described as Lot 7, Universal Florida Replat as Recorded at Plat Book 22,
Page 1, Public Records of Orange County, Florida. 
 WHEREAS, DC has requested UCDP’s acknowledgment of DC’s right to
(i) discharge certain surface water from the DC Property into and through the existing surface water drainage system of UCDP (ii) connect to and discharge into the sanitary sewer system of UCDP (iii) gain ingress and egress over the
existing road know as “Production Plaza” or “Universal Plaza” as denoted on Attachment 1, attached hereto and incorporated herein by this reference (“Access Road”); and 
 WHEREAS, UCDP has constructed (i)various storm water and sanitary sewer systems for the purpose of handling, retaining, transporting, and
discharging drainage water from the DC Property and from certain adjacent lands, (ii) a sanitary sewer system for the handling of sanitary sewerage and (iii) the Access Road for vehicular access to and from various property including, but
not limited to, the DC Property; and 
 WHEREAS, UCDP agrees to (i) allow for the discharge of surface water from the DC Property
into and through its surface water drainage system (ii) permit the connection to its sanitary sewer system and (iii) use of the Access Road for ingress and egress; all subject to certain terms and conditions as set forth hereinafter,

  

 1 

 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, the
parties hereto agree as follows: 
 1. Definitions. For purposes of this Agreement, the following terms shall have the meanings
ascribed thereto as follows: 
 (a) DC Drainage System: means those culverts, pipes, vaults, drains, ditches,
berms, dikes and other water control structures as now exist or are permitted and constructed and constructed in the future on the DC Property, as such system is maintained, modified, improved or altered, from time to time, to collect, transport and
discharge surface water from the DC Property into the UCDP Drainage System. 
 (b) DC Sewer System: means the
pipes, lift stations, force mains and other treatment and conveyance systems DC will construct on the DC Property to collect, treat and convey sewerage from the DC Property into the UCDP Sewer System. 
 (c) Declaration: means that certain Declaration of Restrictive Covenants entered into between the Parties of even date
herewith pertain to the DC Property and recorded on the Public Records of Orange County, Florida. 
 (d) Emergency
Situation: shall mean any adverse condition that exists, or if no action is taken will imminently exists which could have a material adverse affect on health, safety, Permit status, property, such as an unlawful discharge, flood or
similar calamity, or potential Permit violation. 
 (e) Governmental Authority: shall mean any federal, state, or local
governmental or quasi-governmental entity or authority, or any department, commission, board, bureau, agency, court, or instrumentality thereof, in each case having jurisdiction, control, or authority over, or in connection with, any of the UCDP
Property or any of the DC Property. 
 (f) Parties: shall mean, collectively, each of DC and UCDP, and each of their
permitted successors and assigns. 
 (g) Party: shall mean DC or UCDP and their respective successors and assigns.

 (h) Person: shall mean any individual, corporation, partnership, joint venture, association, Limited Liability
Company, Joint Stock Company, trust, unincorporated association, or any Governmental Authority. 
 (i) Permits: means
any and all governmental approvals, permits or authorizations required in conjunction with the construction, ownership, operation, maintenance or use of the DC Drainage System, DC Sewer System, UCDP Sewer System or the UCDP Drainage System together
with all governmental interpretations, orders or agreements related thereto, as amended, revised or issued from time to time. 
 (j) UCDP Drainage System: means the retention/detention areas, including culverts, pipes, vaults, drains, ditches, berms, dikes or other water control structures as exist or are permitted in the future on the UCDP Property, as such
system is maintained, modified, improved or altered, from time to time, to accept, collect, retain, detain, transport, and discharge water from the UCDP Property and DC Property in accordance with applicable Permits (as hereinafter defined).

 (k) UCDP Sewer System: means the pipes, pumps, lift stations, force mains and other treatment and conveyance
systems UCDP has constructed or as may be altered or modified in the future on the UCDP Property for the disposal of sewerage on or from the UCDP Property and DC Property which is connected to and discharges into the sewer system maintained and
operated by the City. 
  

 2 

 2. DC Drainage Rights. UCDP hereby acknowledges and agrees that DC has the right to
discharge surface water from the DC Property into and through the UCDP Drainage System located upon the UCDP Property, as the same now exists or may be modified from time to time in accordance with this Agreement, subject to the following
conditions, limitations, and restrictions: 
 (a) The volume and rate of surface water discharge from the DC Property shall
not exceed that which is necessary to accommodate full potential build out of the DC Property, subject to such future development on the DC Property obtaining and complying with all applicable federal, state and local permits, but without the
requirement for on-site stormwater treatment and attenuation, except as expressly provided herein. 
 (b) All surface water
discharged by DC under this Agreement shall be discharged through the DC Drainage System. DC shall not direct water from sources other than the DC Property or through any means other than DC Drainage System unless by future agreement with UCDP.

 (c) DC shall not create any artificial head pressure or disturb, modify or alter any portion of the DC Drainage System
which would exceed the quantity or rate of flow permitted by this Agreement. 
 (d) DC shall not discharge any water pursuant
to this Agreement unless the quality thereof shall be in compliance with all terms and provisions of the Permits and all applicable laws and regulations, including without limitation, all applicable environmental laws and regulations. 
 (e) DC shall have no right to draw water or remove water from the UCDP Drainage System. 
 (f) UCDP authorizes DC to utilize for compliance purposes under all applicable laws, regulations, ordinances, and permits, a single point
of discharge from the DC Drainage System into the UCDP Drainage System (hereinafter POD-1) as reasonably designated by UCDP, subject to the terms and conditions herein set forth. 
 (g) UCDP shall have the right to require that DC install an interceptor or skimming devise within the DC Drainage System before the point
of connection to the UCDP Drainage System at a points to be determined by UCDP. Such interceptor or skimming devise shall be properly maintained by DC as hereinafter set forth. 
 (h) With regard to any work necessary to be performed by DC to connect to the UCDP Drainage System which is upon the UCDP Property, UCDP
may condition and restrict any such activities as to the timing and manner thereof (it being understood that UCDP has other business activities which may for example require the work be performed at night or other means to limit its disruption) and
shall require that all contractors or other persons performing work comply in all respects with UCDP requirements generally applied to its contractors and suppliers, including but not limited to safety procedures, as well as insurance and financial
requirements. DC agrees that if DC or any of its contractors, agents, employees or other persons performing work for DC, shall cause any physical damage to the UCDP Property the same shall be repaired and restored to the original condition thereof
promptly upon the completion of any such activity. DC agrees to indemnify and hold UCDP harmless from any claims, losses, or damages arising out of or occurring in connection with DC, its employees, contractor, agents or other persons performing
work for DC, entry upon or activities upon the UCDP, including any third party claims. Furthermore, all improvements on the UCDP Property shall become the property of UCDP and DC will execute any deeds or bills of sale to evidence the conveyance
thereof. 
 (i) DC shall pay to UCDP all connection fees and any other fees assessed now or in the future calculated in
accordance with the City of Orlando’s (“City”) applicable codes and ordinances in such amount as would be charged to DC if they were connecting directly to the City’s drainage system. 
 3. DC Sanitary Sewer Connection. UCDP acknowledges and agrees that DC may connect to the UCDP Sewer System subject to the following terms
and conditions: 
 (a) The volume of sanitary discharge from the DC Property shall not exceed that which is necessary to
accommodate the building and improvements authorized by UCDP pursuant to the Declaration and are customary for similar office buildings with supporting retail uses permitted by said Declarations, subject to such development on the DC Property
obtaining all applicable federal, state and local permits. 
  

 3 

 (b) All sewerage discharged by DC under this Agreement shall be discharged through the DC
Sewer System and connect to the UCDP Sewer System at a point of connection reasonably determined by UCDP. DC shall not direct storm water or sewerage from sources other than the DC Property or through any means other than DC Sewer System unless by
future agreement with UCDP. 
 (c) DC shall pay to UCDP all connection fees and sewer usage fees assessed or chargeable now or
in the future in accordance with the City’s applicable codes and ordinances in such amount as would be charged to DC if they were connecting directly to the City’s sewer system. 
 (d) DC shall not discharge any water, material or other substance into or through the UCDP Sewer System pursuant to this Agreement unless
the quality thereof shall be in compliance with all terms and provisions of the Permits and all applicable laws and regulations, including without limitation, all applicable environmental laws and regulations. In addition, DC shall not discharge
into the UCDP Sewer System any toxic, corrosive, damaging or hazardous substance which, in the reasonable judgment of UCDP, may have an adverse affect on the UCDP Sewer System or Permits issued in conjunction therewith. DC acknowledges UCDP’s
right to promulgate from time to time reasonable non-discriminatory rules and regulations and DC shall comply with the same. DC will maintain all records with respect to the DC Sewer System and DC’s discharges into the UCDP Sewer System as
reasonably requested by UCDP to comply with any and all Permit obligations. 
 (e) DC shall install adequate grease traps or
other interceptor devises in the DC Sewer System as are or would be required by applicable ordinances, rules or regulations of the City if DC were connecting directly to the City’s sewer system and shall maintain the same in good working order
at all times, in accordance with the requirements of any Permits as well as all applicable laws, rules and regulations and such rules or regulations promulgated by UCDP from time to time reasonably necessary to assure compliance with the Permits.

 (f) With regard to any work necessary to be performed by DC to connect to the UCDP Sewer System which is upon the UCDP
Property, UCDP may condition and restrict any such activities as to the timing and manner thereof (it being understood that UCDP has other business activities which may for example require the work be performed at night or other means to limit its
disruption) and shall require that all contractors or other persons performing work comply in all respects with UCDP requirements generally applied to its contractors and suppliers, including but not limited to safety procedures, as well as
insurance and financial requirements. DC agrees that if DC or any of its contractors, agents, employees or other persons performing work for DC, shall cause any physical damage to the UCDP Property the same shall be repaired and restored to the
original condition thereof promptly upon the completion of any such activity. DC agrees to indemnify and hold UCDP harmless from any claims, losses, or damages arising out of or occurring in connection with DC, its employees, contractor, agents or
other persons performing work for DC, entry upon or activities upon the UCDP, including any third party claims. Furthermore, all improvements on the UCDP Property shall become the property of UCDP and DC will execute any deeds or bills of sale to
evidence the conveyance thereof. 
 (g) If at anytime in the future a connection to a governmentally owned and operated
sanitary sewer system becomes available for connection by a “gravity feed” line from the DC Property within 200 feet of a boundary of the DC Property, UCDP may upon six (6) months notice to DC request that they connect to such
governmentally owned and operated system. Upon completion such connection, UCDP may disconnect the DC Sewer System from the UCDP Sewer System at UCDP’s expense for such disconnection and the Parties shall be released of any rights and
obligations arising after the date of such disconnection under this Section 3 and other provisions of this Agreement pertaining to the use of UCDP’s Sewer System. 
 4. Grant of Access Road Easement by UCDP. UCDP hereby grants to DC, and its successors and assigns, as owners of the DC Property, a
non-exclusive easement over and across the paved roadways located within the Easement Parcel for the purposes of two-way vehicular traffic access to the DC Property for the sole and limited purpose of providing access for (i) construction and
maintenance including delivery service to the DC Property and buildings to be constructed on the DC Property, and (ii) employees, invitees and guest of the owner or tenants of any portion of the DC Property. DC easement rights shall be limited
to the use of the existing paved roadways located within the Easement Parcel. UCDP hereby reserves unto itself and its successors and assigns, as owner of the Easement Parcel, any and all rights to use the Easement Parcel area at any and all times
for any and all purposes which 

  

 4 

 
do not unreasonably interfere with ingress and egress by DC Property, and its successors and assigns, to the DC Property; including but not limited to the
right to install security gates or similar improvement provided DC, its successors and assigns are not delayed (manned gates or electronically operated gates being acceptable) . UCDP’s reservation shall include, without limiting the generality
of the foregoing, the right and privilege at any time and from time to time to make grants, easements, licenses, and privileges to any person, firm, corporation or other entity, over, under, upon and with respect to said Easement Parcel, for any
purpose or use that will not unreasonably interfere with ingress and egress by DC, and its successors and assigns, to the DC Property. UCDP further reserves unto itself and its successors and assigns, as owner of the Easement Parcel, the right, from
time to time, to reconfigure, modify and reconstruct the paved roadways located within the Easement Parcel; provided that reasonable access shall be provided to DC for the limited purposes set forth herein. 
 DC shall, pay a pro rata share of the ,expenses incurred by UCDP to maintain and repair the roadways located within the Easement Parcel and DC shall be
responsible for the sole cost of any damage caused by, or attributable directly to, the acts or use of the paved roadways by DC, its successors or assigns. UCDP shall pro rate reasonable maintenance cost and repair on a basis reasonably related to
the volume of traffic attributable to the DC Property bears to the total volume of traffic utilizing the Easement Parcel. In the event DC fails to reimburse UCDP for its expense for any maintenance and repair the roadways within the Easement Parcel
as provided herein, or if DC disputes that DC(including its employees, agents, vendors, invitees, or contractors) caused all or any portion of the damage, UCDP may seek any remedy available at law or in equity and any unpaid balance hall accrue
interest at twelve percent (12%) per annum. 
 5. Term. The term of the rights herein granted shall be perpetual, and
shall not be subject to termination or cancellation, except as herein expressly provided. 
 6. Inspection and Testing. Upon
prior written notice from UCDP, DC does hereby grant to UCDP the right to enter upon the DC Property to conduct inspections to determine DC’s compliance with this Agreement, and to conduct any test UCDP deems desirable to insure proper
maintenance of the DC Drainage System and DC Sewer System. This right of inspection will include the right to review all records maintained with regard to the Storm water discharge and sewer discharge from the DC Property that are required by law,
ordinance or regulations or as reasonably required by UCDP to comply with Permit obligations. 
 7. Repair and Maintenance.
UCDP shall be responsible for obtaining and maintaining in good standing all Permits applicable to the UCDP Drainage System and Sewer System and to maintain the UCDP Drainage System and UCDP Sewer System. DC shall be responsible for obtaining and
maintaining all Permits applicable to the DC Drainage System and DC Sewer System and DC shall be responsible to maintain the DC Drainage System and the DC Sewer System. In the event DC believes that UCDP has failed to maintain or has allowed a
condition to exist within the UCDP Drainage System or UCDP Sewer System which restricts, limits or impedes the UCDP Drainage System or UCDP Sewer System from properly accepting the drainage from the DC Property as contemplated herein, DC shall
provide written notice of such condition to UCDP stating with reasonable particularity the nature of any such condition. In the event UCDP believes that DC has failed to comply with the requirements of this Agreement, UCDP shall provide written
notice of such condition to DC stating with reasonable particularity the nature of any such condition. In the event of any Emergency Situation on the DC Property, UCDP may, after making a diligent effort to notify DC, enter upon the DC Drainage
System to remedy any such condition provided such actions are limited to those reasonably necessary to temporarily remedy the condition resulting from the Emergency Situation. 
 8. Limitation on Rights. Except with regard to the Access Road, DC’s rights hereunder shall not constitute nor are they intended to
create an interest in any portion of the UCDP Property or any real property associated with the UCDP Property. Except as provided in this Agreement, UCDP retains all rights in and to all of the UCDP Property. Without limiting the foregoing, UCDP
retains the right to utilize the UCDP Drainage System and UCDP Sewer System in any manner which does not reduce the ability of the UCDP Drainage System or UCDP Sewer System, respectively, to effect drainage and sewerage from the DC Property as
required under this Agreement. UCDP may, from time to time, alter, reconfigure, relocate or otherwise change any feature, component, location or design of the UCDP Drainage System or UCDP Sewer System provided that the plans for the alterations are
in compliance with all applicable laws, ordinances, regulations, and the Permits and, provided further, that the UCDP Drainage System after completion of the alterations shall be of sufficient size and design to accept all of the surface water, and
the UCDP Sewer System after completion of the alterations shall be of sufficient size and design to accept the sewerage, from the DC Property as required under of this Agreement. 
  

 5 

 9. Specific Remedy. The Parties acknowledge that each Party shall suffer irreparable harm
if the other Party shall default in the performance of its obligations pursuant to this Agreement and that such harm cannot adequately be remedied by monetary compensation. Further, each Party acknowledges that a default by such Party hereunder
shall result in irreparable harm to the other Party and such Party’s ability to develop either the DC Property or the UCDP Property as applicable. Accordingly, each Party agrees that the other Party shall be entitled to injunctive relief to
require each Party’s performance as required pursuant to this Agreement and each Party waives any defense or claim that the other Party would not be irreparably harmed or that the other Party has not suffered harm that could adequately be
monetarily or otherwise compensated. In connection with any action by a Party for injunctive relief, specific performance, or similar remedy, each of the Parties hereto waives the requirements for the posting of a bond or other financial security.

 10. Rights Upon Default. In the event of any default or breach of this Agreement by a Party, each Party shall have all
rights and remedies available to it under this Agreement or as provided at law or in equity. If DC has defaulted in any of its obligations with respect to the use of the UCDP Drainage System or UCDP Sewer System, UCDP may after providing written
notice to DC suspend or terminate DC’s rights to discharge into the respective system for any reason that the City would be entitled under the Permits or applicable City codes or ordinances to suspend or terminate such service if DC were
connected directly to the City’s storm water drainage or sewer system, as applicable. 
 11. Indemnification. 

(a) Indemnification by DC. DC shall indemnify UCDP against, hold UCDP harmless from, and reimburse UCDP for (collectively,
“Indemnify”), any and all loss, liability, damage, claim, or expense, including, without limitation, attorneys’ fees, court costs, and all costs of experts and investigation, whether incurred before or during trial or upon appeal
(collectively, “Liability”), arising out of or in connection with any breach of or default under this Agreement by DC. 
 (b) Indemnification by UCDP. UCDP shall indemnify DC against, hold DC harmless from, and reimburse UCDP for (collectively, “Indemnify”), any and all loss, liability, damage, claim, or expense, including, without limitation,
attorneys’ fees, court costs, and all costs of experts and investigation, whether incurred before or during trial or upon appeal (collectively, “Liability”), arising out of or in connection with any breach of or default under this
Agreement by UCDP. 
 12. Applicable Law; Exclusive Jurisdiction; Waiver of Jury Trial. This Agreement shall be construed and
enforced in accordance with the internal laws of the state of Florida (i.e., without reference its conflicts of Laws provisions or the principles of comity). Each Party hereto consents to the exclusive jurisdiction and venue of the
federal and state courts with jurisdiction in Orange County, Florida, for a resolution of all disputes between the Parties hereto in connection with the interpretation, construction, or enforcement of this Agreement (including, without limitation,
any Exhibit attached hereto), and hereby waives the claim or defense that such courts constitute an inconvenient forum. To the fullest extent permissible by law, the Parties do hereby waive any and all right to trial by jury in any litigation or
proceeding arising out of or relating to this Agreement. 
 13. Counterparts. This Agreement may be executed in any number
of counterparts, each of which shall be deemed an original as against any Party whose signature appears thereon, and all of which together shall constitute one and the same agreement. 
 14. Severability. If any term or provision of this Agreement is finally held, in any non-appealable proceeding by a court of competent
jurisdiction, to be invalid or unenforceable, such term or provision shall be deemed limited by construction in scope or effect to the minimum extent necessary to render the same valid and enforceable, and, in the event no such limiting construction
is possible, such invalid or unenforceable term or provision shall be deemed severed from this Agreement without affecting the validity of any other term or provision hereof. 
  

 6 

 15. Persons Bound. All of the provisions herein shall inure to the benefit of the parties
hereto and their successors and interests in title. 
 16. Notices and Communications. Whenever any Party hereto desires or is
required to give any notice, demand, consent, approval, satisfaction, or request with respect to this Agreement, each such communication shall be in writing and shall be effective only if it is delivered by personal service (which shall include
delivery by delivery service, over-night delivery service, telecopy, or telefax), or mailed, by United States certified mail, postage prepaid, and addressed as follows: 
  

					
	 If to DC, to:
	  	  	  	
		  	  	  	
		  	  	  	
			
	 If to UCDP, to:
	  	 UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD
	  	
		  	 1000 Universal Studios Plaza
	  	
		  	 Orlando, FL 32819-7610
	  	
		  	 Attn: Mr. Peter Giacalone,
	  	
		  	 Vice President – Business Development
	  	
		  	 Facsimile: (407) _______________
	  	
		  	 Telephone: (407) ______________
	  	
			
	 with a copy to:
	  	 Peter G. Latham, Esq.
	  	
		  	 GRONEK & LATHAM, LLP
	  	
		  	 390 North Orange Avenue, Suite 600
	  	
		  	 Post Office Box 3353
	  	
		  	 Orlando, Florida 32802
	  	
		  	 Facsimile: (407) 481-5801
	  	
		  	 Telephone: (407) 481-5800
	  	

 Such communications, when personally delivered, shall be effective upon receipt, but, if sent by
certified mail in the manner set forth above, shall be effective three (3) business days following deposit in the United States mail. Any Party may change its address for such communications by giving notice thereof to all other Parties in
accordance with the requirements of this Section. 
 17. Construction of Agreement. This Agreement has been negotiated by the
respective Parties hereto, and the language of this Agreement shall not be construed for or against any Party. Whenever from the context of this Agreement it appears appropriate, each term of this Agreement in either the singular or plural shall
include both, and pronouns stated in any gender shall include the masculine, the feminine, and the neuter, as appropriate. The parties intend that each covenant contained in this Agreement shall have independent significance. If any Party is in
breach of any covenant contained in this Agreement in any respect, the fact that there exists another covenant relating to the same subject matter (regardless of the relative levels of specificity) as to which such Party is not in breach shall not
detract from or mitigate the fact that such Party is in breach of such first covenant. 
 18. Entire Agreement; Amendments and
Waivers. This Agreement, together with all Exhibits attached hereto, constitute the entire agreement among the Parties pertaining to the subject matter hereof, and supersede all prior agreements, understandings, negotiations, and
discussions, whether oral or written, of the Parties hereto. No supplement, modification, or waiver of this Agreement shall be binding unless executed in writing by the Party to be bound thereby. No waiver of any provision of this Agreement shall be
deemed to constitute a waiver of any other provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided therein. 
 19. Headings. The headings and/or captions at the beginning of the several paragraphs of this Agreement are not a part of the Agreement but
merely labels to assist in locating and reading the respective paragraphs hereof and they shall be ignored in construing this instrument. 
  

 7 

 IN WITNESS WHEREOF, the parties have hereunto executed this Agreement and have intended the same
to become effective as of the day and year first above written. 
  

															
		 		 	UCDP:
					
		 		 		 	By:	 	UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD., a Florida limited partnership
						
		 		 		 		 	By:	 	UNIVERSAL CITY FLORIDA HOLDING CO. II, a Florida general partnership, a general partner
					
	WITNESSES	 		 		 		 	By: UNIVERSAL CITY PROPERTY MANAGEMENT COMPANY II, a Delaware corporation, a general partner
						
	  	 		 		 		 	By:	 	  
	  	 		 		 		 		 		 	Vice President
	Printed Name	 		 		 		 		 		 	
							
	  	 		 		 		 		 		 	
							
	  	 		 		 		 		 		 	
	Printed Name	 		 		 		 		 		 	

  

			
	STATE OF FLORIDA	  	)
		  	)
	COUNTY OF ORANGE	  	)

 The foregoing instrument was acknowledged before me this____________ day of December, 2006, by
__________ , as Vice-President of UNIVERSAL CITY PROPERTY MANAGEMENT COMPANY II, a Delaware limited liability company, as a general partner of UNIVERSAL CITY FLORIDA HOLDING CO. II, a Florida general partnership, as a general
partner of UNIVERSAL CITY DEVELOPMENT PARTNERS, LTD., a Florida limited partnership, on behalf of said partnerships and said corporation, who is [        ] personally known to me or
[        ] produced _____________________ as identification. 
  

	
	
	   
	Notary Public
	
	   
	My Commission Expires

  

 8 

									
		 		 	 DC:
  
 DANIEL COMPANY, a Maryland corporation

				
		 		 	By:	 	  
				
	WITNESSES	 		 	Name:	 	  
				
	  	 		 	Its:	 	  
				
	  	 		 		 	
	Printed Name	 		 		 	
				
	  	 		 		 	
				
	  	 		 		 	
	Printed Name	 		 		 	

  

			
	STATE OF FLORIDA	  	)
		  	)
	COUNTY OF ORANGE	  	)

 I HEREBY CERTIFY that on this day, before me, an officer duly authorized in the State
aforesaid and in the County aforesaid, to take acknowledgments, personally appeared before me ____________________________ who [        ] is personally known to me, or
[        ] who produced ________________________________________________________ as identification, and who acknowledged that he/she executed the foregoing instrument freely and voluntarily for the uses
and purposes expressed therein. 
 WITNESS my hand and official seal in the County and State last aforesaid this _____________ day of
December, 2006. 
  

	
	
	   
	Notary Public
	
	   
	My Commission Expires

  

 9 

 Attachment “1” 
 to Exhibit “F” 
 to the Declaration of Restrictive Covenants

 Graphic Depiction of Access 
  

 1Letter, General Waiver and Release Agreement, effective November 1, 2006

 Exhibit 10.1 
  

					
	

	 	 Bristol-Myers Squibb Company
	  	

					
		 	     345 Park Avenue New York, NY 10154-0037 212 546-3138
 E-mail: steve.bear@bms.com                
	  	

         Stephen E. Bear 
     Senior Vice President 
         Human Resources 
 October 30, 2006 
 Mr. Peter Dolan 
 c/o Bristol-Myers
Squibb Company 
 345 Park Avenue 
 New York, New York 10154 
 Dear Peter: 
 Effective September 12, 2006 you ceased to serve as Chief Executive Officer, Bristol-Myers Squibb Company and as an officer or director of it and/or any of its subsidiaries (collectively,
the “Company”) as well as a fiduciary of any of its benefit plans. Your employment with the Company will terminate on October 31, 2006 (“Separation Date”). As of the Separation Date, to the extent that you have not
previously ceased to do so, you shall cease to be the Company’s representative to any industry organization. You shall provide the Company or any such organization with such resignation with regard thereto as requested by the Chief Executive
Officer. This will confirm that your current base salary of $1,250,000.00 per year will continue to be paid in normal biweekly pay intervals (less applicable withholdings and deductions) until your Separation Date. During the term of your employment
under this Letter Agreement, you will remain an active at will full-time employee of the Company, subject to the terms contained herein, and will continue to receive the benefits for which you are eligible and enrolled on that basis up to your
Separation Date. Your responsibilities will be as a senior advisor to the Chief Executive Officer primarily focusing on transition issues. 
 If you agree to enter into this Letter Agreement, subject to all of the following terms and conditions, you will be provided with the following compensation and benefits: 
  

	 1.
	 Separation Payment & Related Benefits. Subject to your signing this Letter Agreement and, no earlier than your Separation Date, signing the release
agreement attached hereto as Exhibit A, and they becoming effective as set forth in paragraph 28 of the Letter Agreement and the last paragraph of Exhibit A hereto (the “Effective Date” as defined in paragraph 28) and subject to paragraphs
15 and 17 below: 

  

	 	 (a)
	 Pursuant to the Company’s Severance Plan, you will receive severance pay in the total gross amount of $1,237,981.00, (which is equal to 51.5 weeks of your
base salary), less applicable withholdings and deductions, to be paid at regular payroll intervals according to your current pay schedule (the “Severance Pay Period”); provided that any amounts payable prior to May 1, 2007 shall
accrue interest in accordance with the provisions of paragraph 6(d) hereof and be payable on the first 

  

 Page 1 of 23 

 business day of May 2007. Any remaining payments due on or after May 1, 2007 will be
paid at regular payroll intervals and will be so paid notwithstanding your commencement of other employment. 
  

	 	 (b)
	 Pursuant to the Company’s Severance Plan, you will be eligible to receive Company-subsidized medical and dental plan benefits (provided you timely elect
COBRA) and Company-paid life insurance equal to one times base pay for up to 51.5 weeks following your Separation Date (the “Benefit Continuation”). During this period you will not be an employee of the Company and will not be entitled to
any other payment or benefits not specifically provided for in this Letter Agreement. If you obtain employment, including but not limited to self-employment, outside the Company or otherwise provide services to a person or entity prior to the end of
the Severance Pay Period (collectively, “Other Employment”), your Benefits Continuation will cease as of the date you begin Other Employment outside the Company; provided, however, that the providing of consulting services to the Company
shall not cause the termination of the Benefits Continuation. Benefits Continuation is contingent on your making all the required contributions for similarly situated executives and is subject to the terms and conditions of the applicable benefit
plans as they exist or may change for similarly situated executives from time to time and in accordance with applicable law. Such coverage period shall be counted against your COBRA coverage period. 

  

	 	 (c)
	 You will be eligible in accordance with the terms of the applicable plans for enhanced benefits based on the Rule of 70, which terms, subject to the terms of
this Letter Agreement, you will satisfy. Under the Rule of 70, if your age and service with the Company exceed 69 (which the parties acknowledge is the fact) and you satisfy the other Rule of 70 requirements including, but not limited to, the
release requirements referred to above and the non-cause basis of your termination, you are entitled to additional pension and retiree health benefits and additional vesting of, and exercise period for, equity grants as follows (which summary shall
be subject to the specific terms of the applicable plan): 

  

	 	 (i)
	 Enhanced Pension Benefits. You will be eligible to receive enhanced benefits from the Bristol-Myers Squibb Company Retirement Income Plan
(“Retirement Income Plan”) and from the Retirement Income Plan - Benefit Equalization Plan in accordance with the terms of such plans. Notwithstanding the foregoing, any benefit that would be paid to you from any non-qualified pension or
profit-sharing plan prior to May 1, 2007 that was not accrued and vested on December 31, 2004 (and not modified thereafter) shall accrue and be paid to you on the first business day of May 2007. 

  

	 	 (ii)
	 Retiree Medical Benefits. You will have the opportunity to continue medical coverage beyond the Severance Pay Period. During the period that you have no
other coverage available to you (e.g., as an employee or retiree of another 

  

 Page 2 of 23 

 employer, as a dependent under the coverage available from your spouse’s employer),
such benefits shall be provided to you on an unsubsidized basis plus a 2% administrative fee until age 55, and thereafter, on a partially subsidized basis in accordance with the plan terms. The cost of retiree medical coverage is based on your years
of service with the Company as of your termination date and your current age. Under the Retiree Medical Plan if you are eligible to enroll in Medicare coverage, Medicare will be your primary coverage and the Company plan will be secondary whether or
not you actually enroll in Medicare. The Company reserves the right to amend, suspend or terminate its Retiree Medical Plan (and your rights with regard thereto), in whole or in part, any time in its sole and absolute discretion; provided that you
shall not be treated differently than other similarly situated employees. 
  

	 	 (iii)
	 Long-Term Performance Award Plan. You will continue to participate in the Long-Term Performance Award Plan (“LTPAP”) through your Separation
Date, including the 2004-2006 performance cycle. The award for the 2004-2006 performance cycle is payable in March 2007 (but pursuant to paragraph 6 hereof, will not be paid until the first business day of May 2007), and, assuming an
October 31, 2006 Separation Date, you will be eligible for a pro-rata payment based on thirty-four (34) months of participation. The award for the 2005-2007 performance cycle is payable in March 2008, and, assuming an October 31, 2006
Separation Date, you will be eligible for a pro-rata payment based on twenty-two (22) months of participation. Your participation in the 2006-2008 LTPAP performance cycle will lapse. As with all other eligible executives, your ultimate payout
under the plan will be based on the Company’s performance against targets as certified by the Compensation and Management Development Committee of the Board of Directors and any and all awards are subject to the terms of the LTPAP. As of the
date of this Letter Agreement, you will not be eligible to receive any additional LTPAP awards. 

  

	 	 (iv)
	 Vesting of Stock Options. As of the date of this Letter Agreement, you will not be eligible for additional stock option grants through your Separation
Date. Any Bristol-Myers Squibb Company stock options granted to you prior to the date of this Letter Agreement will continue to vest in accordance with the terms of the applicable plans during the period of your employment with the Company. All
stock options granted to you will be subject to the terms and conditions of the Bristol-Myers Squibb Company 1983 Stock Option Plan, the Bristol-Myers Squibb Company 1997 Stock Incentive Plan and the Bristol-Myers Squibb Company 2002 Stock Incentive
Plan. Effective upon your Separation Date, any stock options granted to you by the Company and outstanding for one year will become fully vested, and you will have the full term from the time of the grant in order to exercise all awards (subject to
termination based on the applicable plan provisions other than those related to termination of employment). For stock options subject to a share price 

  

 Page 3 of 23 

 appreciation threshold, that threshold will remain in effect. All other stock options
shall expire on the Separation Date. 
  

	 	 (v)
	 Restricted Stock. Prior to the additional vesting under the Rule of 70 as set forth in the next sentence, on the Separation Date, you will have 325,378
unvested shares from the restricted stock awards you received on December 5, 2000 (26,291 shares vested; 52,583 shares unvested), March 6, 2001 (8,763 vested; 17,528 shares unvested), September 10, 2003 (33,333 shares vested; 66,667
shares unvested); March 2, 2004 (0 shares vested; 88,600 unvested), and March 1, 2005 (0 shares vested; 100,000 shares unvested). Under the Rule of 70, as of the Separation Date, 81,013 shares of restricted stock shall become vested (which
shall consist of 23,748 shares from your 2000 award, 7,917 shares from your 2001 award, 4,660 shares from your 2003 award, 26,199 shares from your 2004 award, and 18,489 shares from your 2005 award), and any remaining shares will be forfeited. These
awards are subject to the terms and conditions of the applicable Restricted Stock Award Agreements and the applicable equity plans under which such awards were granted. 

  

	 	 (d)
	 At the Company’s expense, you will be eligible for outplacement services to be provided by an outplacement services firm mutually acceptable to you and the
Company in an amount of up to $75,000. In addition, the Company shall pay, or reimburse you, for up to an additional $25,000 for other transition services selected by you upon presentation of documentation in accordance with the Company’s
customary practices; provided that no payment or reimbursement for such transition services shall occur until the first business day of May 2007. 

  

	 2.
	 Waiver of Other Benefits. You acknowledge that, by entering into this Letter Agreement, except as set forth herein, you are waiving all benefits for which
you would be otherwise eligible under the terms of any existing Company severance plan or policy, or any separate agreement provided to you by the Company, including the Change in Control Agreement effective January 1, 2006; provided that you
shall remain entitled to the benefits under Sections 4(c) and 4(d) (only as it relates to Section 4(c)) of the Change in Control Agreement with regard to excise tax gross up payments in connection with a change in control of the Company. You
further acknowledge and agree that the total payments and benefits set forth herein are in excess of any payments and benefits that you might otherwise be eligible to receive and are valuable consideration for you to enter into this Letter
Agreement. 

  

	 3.
	 2006 Awards. You shall forfeit all of your rights to the stock option and restricted awards granted to you in 2006 as of the Separation Date, you will not
receive a 2006 bonus payment under the Performance Incentive Plan, and your participation in the 2006-2008 LTPAP performance cycle will lapse. 

  

	 4.
	 Perquisites. Your use of Company aircraft, chauffeur services and security, and your entitlement to any other executive perquisites received during your
employment with the 

  

 Page 4 of 23 

 Company will cease as of your Separation Date to the extent not otherwise ceased prior
thereto. 
  

	 5.
	 Consulting Agreement. You will be retained as a consultant to the Chief Executive Officer of the Company from your Separation Date through April 30,
2007 in accordance with the consulting agreement set forth as Exhibit B hereto (the “Consulting Agreement”) at the monthly fee of fifty thousand dollars ($50,000), provided that any payments that would be due prior to May 1, 2007
shall be paid to you on the first business day of May 2007. 

  

	 6.
	 Internal Revenue, Code Section 409A. 

  

	 	 (a)
	 The intent of the parties is that payments and benefits under this Letter Agreement comply with Internal Revenue Code Section 409A and the regulations and
guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Letter Agreement shall be interpreted to be in compliance therewith. If you notify the Company (with
specificity as to the reason therefore) that you believe that any provision of this Letter Agreement (or of any award of compensation, including equity compensation or benefits) would cause you to incur any additional tax or interest under Code
Section 409A and the Company concurs with such belief or the Company (without any obligation whatsoever to do so) independently makes such determination, the Company shall, after consulting with you, reform such provision to try to comply with
Code Section 409A. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original
intent and economic benefit to you and the Company of the applicable provision without violating the provisions of Code Section 409A. 

  

	 	 (b)
	 Notwithstanding any provision to the contrary in this Letter Agreement and subject to subsection (c), if you are deemed on the date of termination to be a
“specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is required to be delayed in compliance with Section 409A(a)(2)(B) such
payment or benefit shall not be made or provided (subject to the last sentence of this subsection (b)) prior to the earlier of (i) the expiration of the six (6)-month period measured from the date of your “separation from service” (as
such term is defined under Code Section 409A) or (ii) the date of your death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this section (whether they would have
otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to you in a lump sum, and any remaining payments and benefits due under this Letter Agreement shall be paid or provided in accordance
with the normal payment dates specified for them herein. Notwithstanding the foregoing, to the extent that the foregoing applies to the provision of any ongoing welfare benefits to you that would not be required to be 

 

 Page 5 of 23 

 delayed if the premiums therefore were paid by you, you shall pay the full cost of
premiums for such welfare benefits during the Delay Period and the Company shall pay you an amount equal to the amount of such premiums paid by you during the Delay Period promptly after its conclusion. 
  

	 	 (c)
	 In no event whatsoever (as a result of paragraph 6(a) or paragraph 6(b) above or otherwise) shall the Company be liable for any additional tax, interest or
penalties that may be imposed on you by Code Section 409A or any damages for failing to comply with Code Section 409A or (a) or (b) above. 

  

	 	 (d)
	 You shall be entitled to interest at a simple interest rate of 5.5% on or in respect of the banked vacation days payment under paragraph 7 hereof and the amounts
payable under paragraph l(a) hereof that are delayed pursuant to this paragraph 6. Such interest shall accrue as of the date such amounts would have been payable had such delay not been applicable and shall be paid at the same time as such delayed
amounts are actually paid to you. 

  

	 7.
	 Accrued Obligations. Promptly after the Separation Date, you will be paid for accrued, unused vacation days (other than banked vacation days), if any,
based on your base salary in effect as of your Separation Date, plus any accrued but unpaid base salary and any unreimbursed business expenses entitled to reimbursement in accordance with Company policies. Your banked vacation days (amounting to
$144,230.77) will be paid to you with interest in accordance with the provisions of paragraph 6(d) hereof on the first business day of May 2007. 

  

	 8.
	 Other Company Property. On or before your Separation Date you agree to use your best efforts to return or proffer to the Company all property in your
possession belonging to the Company or its affiliates (including, but not limited to any Company laptop or computers, and other equipment, documents and property belonging to the Company); provided, however, that, if after a diligent search, you in
good faith are not aware of Company property in your possession, you will promptly return or proffer to the Company such Company property upon discovery. You will not retain copies of any Company property, except as specifically provided herein. In
the event that you proffer to the Company such property in your possession, the Company will make appropriate personnel available at a mutually convenient time and place to review with you such property. You may retain copies of your rolodex and
similar address books provided that they only include contact information, and you may also retain copies of expense reimbursement documentation, and other documents and information provided to you as an employee with regard to benefit, equity and
other compensation programs. The Company acknowledges that personal photographs, correspondence and other documents related to purely personal matters are not Company property. The Company will cooperate with you in transferring your cell phone
number to your individual name. 

  

	 9.
	 General Release. In exchange for the valuable consideration set forth herein, you hereby waive any and all rights to sue and/or make any claims against
Bristol-Myers Squibb 

  

 Page 6 of 23 

 Company, and any affiliates, parent companies and subsidiaries, and its and their past,
present and future officers, directors, employees, agents, employee benefit plans and their administrators and fiduciaries and its and their successors and assigns (collectively the “Released Parties”) based upon any act or event occurring
prior to the Effective Date of this Letter Agreement. Without limitation, you specifically release the Released Parties from any and all such claims arising out of your employment and separation from the Company, whether known, or unknown,
including, but not limited to, claims under the Change in Control Agreement (except to the extent provided in paragraph 2 hereof with regard to excise tax gross up payments in connection with a change in control of the Company), claims based on
discrimination under federal anti-discrimination laws such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, the Americans with Disabilities Act, the Equal Pay Act, the
Family Medical Leave Act, claims under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) (including, without limitation, claims for interference with your rights to benefits under section 510 of ERISA) and/or any
other federal, state, or local law (statutory or decisional), regulation or ordinance, including, but not limited to, the New York State Human Rights Law, the Administrative Code of the City of New York, the New Jersey Law Against Discrimination,
the New Jersey Conscientious Employee Protection Act, the New Jersey Family Leave Act, New Jersey Wage and Hour Laws, and the New Jersey Wage Discrimination Act. You further acknowledge that the Company has offered to provide you with this Letter
Agreement in lieu of those benefits to which you otherwise may have been entitled under any Company severance plan, program or arrangement, if any. 
  

	 10.
	 Claims Not Subject to Release. You are not giving up any claims for any accrued, vested benefits under any employee benefit, equity or pension plan of the
Company, subject to the terms and conditions of such plan and applicable law. You are not giving up your right to appeal a denial of a claim for benefits submitted under your medical or dental coverage, life insurance or disability income program
maintained by the Company. Further, you are not giving up your right to file a claim for unemployment insurance benefits nor your rights, if any, to file a claim for workers’ compensation insurance benefits. Nor are you giving up your right to
indemnification or reimbursement of expenses under the Company’s organizational documents, By-laws or any agreement concerning indemnification or reimbursement of expenses, your right to director and officer insurance coverage, if any, any
rights or claims you have under this Letter Agreement or the Consulting Agreement, including any rights or claims arising out of any breach by the Company of this Letter Agreement or the Consulting Agreement, any right to reimbursement for business
expenses incurred during the course of your employment with the Company and in accordance with the Company’s policy with respect to the reimbursement of business expenses, any right or claim you may have to obtain contribution as permitted by
applicable law in an instance in which both you, on the one hand, and the Company, any affiliate of the Company or any other Released Party, on the other hand, are held to be jointly liable, or any right or claim that may initially arise after the
Effective Date. 

  

 Page 7 of 23 

	 11.
	 Non-Competition. For a one (1) year period after your Separation Date, you will not in any way directly or indirectly own, manage, operate, control,
accept employment or a consulting position with or otherwise advise or assist or be actively connected with, or have any financial interest in, directly or indirectly, any entity that engages or intends to engage in any Competing Business anywhere
in the world. “Competing Business” means any business or other enterprise substantially similar to, or competitive with, the business of the Company or any of its affiliated companies as conducted, or as actively being contemplated to be
conducted by the Company, as of the Separation Date. It is understood that ownership of not more than one percent (1%) of the equity securities of any publicly traded Competing Business shall in no way be prohibited pursuant to the foregoing
provisions. Questions regarding whether an assignment may be counter to this limitation must be brought to the attention of the General Counsel of the company. 

  

	 12.
	 Non-Solicitation. For a one (1) year period following the Separation Date, you agree that you will not in any way, directly or indirectly on your own
or as an agent, employee or officer of any corporation, employ, solicit for employment, engage as a consultant, retain in any capacity, or advise or recommend to any other person that they employ, solicit for employment, engage as a consultant or
retain in any capacity, any person employed at the time by Bristol-Myers Squibb Company, or any of its affiliates, parent companies and subsidiaries. The forgoing shall not prohibit you from general advertising not targeted at employees of the
Company or from providing a reference upon request as to a person or entity so long as you have no business relationship with the person or entity that you are providing a reference to. 

  

	 13.
	 Employee Confidentiality Obligation. You may not make use of confidential or proprietary information concerning the Company’s business or affairs, of
any nature, that is not otherwise a matter of public record. This obligation continues after the termination of your employment and remains in effect regardless of whether you sign this Letter Agreement. In addition, for a one (1) year period
after your Separation Date, you agree that you will not advise, counsel or otherwise assist (as an employee, consultant or in any other capacity) any company, entity or third-party seeking to purchase, acquire, invest in and/or gain a controlling
voting interest in the Bristol-Myers Squibb Company. Nothing in this paragraph is intended to prohibit or restrict you in any way from providing truthful information concerning your employment or the Company’s business activities to any
government, regulatory or self-regulatory agency or pursuant to a valid subpoena issued by a court of competent jurisdiction. 

  

	 14.
	 Non-Disparagement. For a three (3)-year period following the Separation Date, you agree that you will not disparage or encourage or induce others to
disparage the Company or any of its employees, officers, directors or products (the “Company Group”). For purposes of this Letter Agreement, the term “disparage” includes without limitation, comments or statements to the press
and/or media, the Company’s employees, and/or to any individual, customer, client or entity with whom the Company has a business relationship if such statement would adversely affect in any manner the conduct of the business of the Company
and/or the 

  

 Page 8 of 23 

 business reputation of the Company or its employees. Nothing in this paragraph is
intended to prohibit or restrict you from providing truthful information concerning your employment or the Company’s business activities to any government, regulatory or self-regulatory agency or pursuant to a valid subpoena issued by a court
of competent jurisdiction, or to deny (but not to otherwise disparage the Company Group in connection therewith) the truth of any false statement made about you. 
  

	 15.
	 Material Breach. You understand that a breach by you of paragraphs 11, 12, 13, 14, or 16 (other than a breach that is both non-intentional and
non-material), would be a material breach of your obligations under this Letter Agreement, and that, if any payments and benefits have been provided to you under paragraphs 1(a) or 1(b) hereof prior to any such breach, in addition to any
other remedy that may be available to the Company in law or at equity, you will, upon 30 days written notice by the Company, promptly return all such payments and the value of all benefits to the Company and forfeit your right to any other payments
or benefits still owing pursuant to this Agreement. In addition, all stock options shall immediately expire. The determination that you have materially breached any of the above-referred to paragraphs of this Letter Agreement shall be made by the
Board of Directors, upon recommendation of the Compensation and Management Development Committee, each in their respective good faith discretion. In the event of any dispute by you regarding any such determination, such dispute shall be resolved in
accordance with the provisions of paragraph 27 hereof. 

  

	 16.
	 Cooperation. From time to time the Company finds it necessary or advisable to contact former employees to discuss matters about which they might have
knowledge that are relevant to ongoing legal matters of the Company or otherwise related to their employment period. Accordingly, you agree that you will cooperate in all reasonable respects and generally make yourself available to give testimony,
speak with counsel representing the Company and provide assistance in connection with any relevant litigation, arbitration, proceedings, government hearing or investigation involving the Company or any other matter that relates to your employment
period, provided that with regard to matters not involving litigation or potential litigation, this provision shall not apply after five (5) years from the date hereof. The Company will, to the extent feasible, use reasonable business efforts
to provide you with reasonable notice in the event your assistance is required. In connection with your testimony, cooperation and assistance with legal matters for which the Company is currently reimbursing your legal and related expenses, the
Company will continue to advance or reimburse to you such reasonable expenses incurred by you. You further understand any future requests by you to the Company for the advancement of reasonable legal fees and expenses and/or indemnification for any
additional legal matters will be considered by the Company and determined in accordance with the Company’s applicable By-laws, Board resolutions and Delaware law. In connection with any cooperation where the Company requires you to be available
in person, the Company will reimburse you for your reasonable travel, meal and lodging expenses. Your entitlement to reimbursement of expenses pursuant to this paragraph 16 shall in no way affect other rights you may have to be indemnified and/or
advanced expenses, provided that in no event shall there be any duplication of 

  

 Page 9 of 23 

 indemnification and/or expense reimbursement. You will not be entitled to any other
compensation for cooperation, except as otherwise provided under any indemnification arrangement with the Company. 
  

	 17.
	 Forfeiture and Clawback. In the event that a determination by the Board of Directors, upon recommendation of the Compensation and Management Development
Committee, is made following your Separation Date that you, while employed, engaged in willful misconduct or activity deemed detrimental to the interests of the Company, including violation of any federal securities or other law or the
Company’s Standards of Business Conduct and Ethics, the Board of Directors shall have the right, upon written notice given to you, to forfeit your right to receive the payments and property due under paragraph 1 of this Letter Agreement, and
require you to refund to the Company within thirty (30) days of such written demand any payments or property (other than $10,000) paid to you under paragraph 1 of this Letter Agreement prior to such determination (or the value thereof, including the
profit you made on the exercise of stock options), provided that your forfeiture and refund obligation under this paragraph 17 shall not apply to any payments or property to which you would have been otherwise entitled had your employment with the
Company been terminated for any of the reasons described in this sentence. Nothing in this paragraph 17 shall be deemed to be violated by any action or inaction taken with the express approval, or at the express direction, of the Board of Directors
of the Company or a committee thereof. Any determination by the Board of Directors or the Compensation and Management Development Committee under this paragraph 17 shall be made in its good faith discretion, and in the event of any dispute by you
regarding any such determination, such dispute shall be resolved in accordance with the provisions of paragraph 27 hereof. 

  

	 18.
	 Enforceability of Letter Agreement; Remedies. 

  

	 	 (a)
	 If at any time after the Effective Date of this Letter Agreement any provision is held to be illegal, void, or unenforceable, that provision will have no force
and effect. However, the illegality or unenforceability of that provision will not have any effect on, and will not impair the enforceability of, any other provision of this Letter Agreement. To the extent that a court shall hold that the duration,
scope, area or other restriction stated in paragraphs 11, 12 or 13 of this Letter Agreement are unreasonable under circumstances then existing, the parties agree that it is their intention that such provision should be modified or amended by the
court to render it enforceable to the maximum extent permissible under applicable law. If a court of competent jurisdiction finds that the General Release is illegal and/or unenforceable, you will be required to execute a General Release that is
legal and enforceable. 

  

	 	 (b)
	 In the event of a breach or threatened breach of any of the provisions of this Agreement, you agree that the Company shall be entitled to injunctive or other
equitable relief in a court of appropriate jurisdiction to remedy any such breach or threatened breach, and you acknowledge that damages would be inadequate and insufficient. The existence of this right to injunctive and other equitable relief shall

  

 Page 10 of 23 

 not limit any other rights or remedies that the Company may have at law or in equity
including, without limitation, the right to monetary, compensatory and punitive damages. 
  

	 19.
	 By-Laws. The parties acknowledge and agree that you shall continue to be covered under the indemnification and related provisions of the Company’s
By-Laws with regard to actions or inactions taken by you as an officer or director of the Company, and pursuant to such By-Laws, such provisions are a contractual commitment of the Company as specified therein. In addition, you shall continue to be
covered under the Company’s directors’ and officers’ insurance policies to the same extent as other similarly situated directors and officers of the Company. 

  

	 20.
	 Amendment/Waiver. No provision in this Letter Agreement may be amended unless such amendment is agreed to in writing and signed by you and an authorized
officer of the Company. No waiver by either party of any breach by the other Party of any condition or provision contained in this Letter Agreement to be performed by such other Party shall be deemed a waiver of a similar or dissimilar condition or
provision at the same or any prior or subsequent time. Any waiver must be in writing and signed by you or an authorized officer of the Company, as the case may be. 

  

	 21.
	 Supersedes All Prior Agreements. You acknowledge and agree that this Letter Agreement supersedes any and all other prior agreements entered into between
you and the Company with regard to your employment or separation from the Company except as specifically provided herein, including but not limited to, the Change in Control Agreement effective January 1, 2006 (except to the extent provided in
paragraph 2 hereof with regard to excise tax gross up payments in connection with a change in control of the Company); provided, however, any confidentiality agreement or other intellectual property agreement between you and the Company shall remain
in full force and effect. You also represent and agree that, in signing this Letter Agreement, you are not relying on any promises or representations not contained within this Letter Agreement and acknowledge that you are not entitled to any other
compensation or benefits from the Company except as otherwise expressly provided for herein. 

  

	 22.
	 No Mitigation; No Offset. In no event will you be obligated to seek other employment or take any other action by way of mitigation of the amounts payable
under this Letter Agreement. There will be no offset by the Company against your entitlements under this Letter Agreement or the Consulting Agreement for any compensation or other amounts (other than as provided herein or in any benefit plan with
regard to employee benefits) that you earn from subsequent employment or engagement of your services. 

  

	 23.
	 Successors and Assigns. Except as otherwise expressly provided herein, this Letter Agreement will be binding upon and inure to the benefit of the parties
and their respective successors, heirs (in your case) or assigns. The Company will require any assignee of all or substantially all of the assets of the Company to assume and agree to perform this Letter 

  

 Page 11 of 23 

 Agreement in the same manner and to the same extent that the Company would be required to
perform it if no such assignment had taken place. As used in this Letter Agreement, “the Company” will mean the Company as defined above and any successor to its business and/or assets which by reason hereof assumes and agrees to perform
this Letter Agreement by operation of law or otherwise. In the event of your death or a judicial determination of your incompetence, with respect to any payments, entitlements or benefits payable or due hereunder, references in this Letter Agreement
to you will be deemed to refer, where appropriate, to your legal representatives or your beneficiary or beneficiaries. Anything herein to the contrary notwithstanding, the Company may not assign this Letter Agreement except to a successor to the
Company, and any such assignment by the Company will not relieve it of its obligations hereunder. None of your rights or obligations under this Letter Agreement may be assigned or transferred by you other than your rights to compensation and
benefits, which may be transferred only by will or operation of law, except as otherwise specifically provided in this Agreement or other applicable plans or agreements of the Company. 
  

	 24.
	 Notices. For the purpose of this Letter Agreement, notices, demands and all other communications provided for in this Letter Agreement will be in writing
and will be sent by messenger or overnight courier (provided in each case, confirmation of receipt is obtained), certified or registered mail, postage prepaid and return receipt requested or by facsimile transmission to the parties at their
respective addresses and fax numbers set forth below or to such other address or fax number as to which notice is given. 

  

			
	 If to you:
	  	 At the last address on the records of the Company

		
	 With a copy to:
	  	 Joseph E. Bachelder, Esq.

		  	 Bachelder Law Offices
 780 Third Avenue
 New York, New York 10017

		
	 If to the Company:
	  	 345 Park Avenue

		  	 New York, NY 10154

		  	 Attention: Senior Vice President - Human Resources

		
	 With a copy to:
	  	 Corporate Secretary

		  	 Bristol-Myers Squibb Company
 345 Park Avenue

		  	 New York, NY 10154

 Notices, demands and other communications will be deemed given on delivery
thereof. 
  

	 25.
	 Counterparts. This Letter Agreement may be executed in one or more counterparts, each of which will be deemed to be an original but all of which together
will constitute one and the same instrument. 

  

 Page 12 of 23 

	 26.
	 Company Representations. The Company represents and warrants that (i) the execution, delivery and performance of this Letter Agreement and the
Consulting Agreement by the Company has been fully and validly authorized by all necessary corporate action, (ii) the officer signing this Letter Agreement and the Consulting Agreement on behalf of the Company is duly authorized to do so,
(iii) the execution, delivery and performance of this Letter Agreement and the Consulting Agreement does not violate any applicable law, regulation, order, judgment or decree or any agreement, plan or corporate governance document to which the
Company is a party or by which it is bound and (iv) upon execution and delivery of this Letter Agreement and the Consulting Agreement by the parties, they will be the valid and binding obligations of the Company enforceable against it in
accordance with their respective terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally. 

  

	 27.
	 Arbitration. Subject to the provisions of paragraph 18(b), any disputes arising under or in connection with this Letter Agreement shall be resolved by
binding arbitration, to be held in New York, New York, in accordance with the employment dispute rules and procedures of the American Arbitration Association. Judgment upon the award rendered by the arbitrator(s) may be entered in any court having
jurisdiction thereof. Each party hereto shall bear his or its own costs of the arbitration or litigation, including, without limitation, his or its attorneys’ fees. 

  

	 28.
	 Effectiveness. By signing this Letter Agreement, you acknowledge that you have been given at least twenty-one (21) days to consider and sign. You
further acknowledge that you have seven (7) days after signing it to revoke your signature and that provided you do not revoke your signature, it will be effective (the “Effective Date”). To revoke your signature, you must notify the
Company in writing within seven days of the date you signed this Letter Agreement. Such notice must be delivered by 5:00 p.m. of the seventh day and addressed to Bristol-Myers Squibb Company, Office of the General Counsel, 345 Park Avenue,
NY, NY 10154. In the event that you do not sign this Letter Agreement or if you revoke your signature, you will not be entitled to the payments and benefits set forth above. 

 YOUR SIGNATURE BELOW ACKNOWLEDGES THAT YOU HAVE READ THE ABOVE, UNDERSTAND WHAT YOU ARE SIGNING, AND ARE SIGNING IT VOLUNTARILY AND ACTING OF YOUR OWN FREE WILL. YOU UNDERSTAND THAT, IF ANY
PROVISION OF THIS LETTER AGREEMENT IS FOUND TO BE INVALID OR UNENFORCEABLE, IT WILL NOT AFFECT THE VALIDITY OR ENFORCEABILITY OF ANY OTHER PROVISION. YOU FURTHER AGREE THAT THIS LETTER AGREEMENT WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAW RULES. YOU ALSO ACKNOWLEDGE THAT THE COMPANY HAS ADVISED AND HEREBY ADVISES YOU IN WRITING TO CONSULT WITH AN ATTORNEY AND OTHER ADVISORS OF YOUR CHOICE PRIOR TO SIGNING THIS DOCUMENT. 
  

 Page 13 of 23 

 [SIGNATURES ON FOLLOWING PAGE] 
  

 Page 14 of 23 

 Please indicate your acceptance of this Letter Agreement by signing and returning it to me. 

 

	
	 Very truly yours,

	
	 /s/ Stephen E. Bear
  

	 Stephen E. Bear
 Senior
Vice President, Human Resources
 Bristol-Myers Squibb Company

  

							
	 /s/ Peter Dolan
	  	Executed	 	 November 1, 2006
	 	
	Peter Dolan	  		 		 	

  

 Page 15 of 23 

 EXHIBIT A 
 GENERAL RELEASE 
 General Release by Peter Dolan (“Mr. Dolan”) in
his capacity as an individual and on behalf of his heirs, executors, administrators, attorneys, agents, successors and assigns of all claims against Bristol-Myers Squibb Company (the “Company”), and any affiliates, parent companies and
subsidiaries, and their past, present and future officers, directors, employees and agents, employee benefit plans and their administrators and fiduciaries and its and their successors and assigns (collectively the “Released Parties”).

 In exchange for the payments and other consideration set forth in paragraph 1 of the Letter Agreement between
Mr. Dolan and the Company dated October 30, 2006 (the “Letter Agreement”), and other valuable consideration, Mr. Dolan waives any and all rights to sue and/or make any claims against the Released Parties based upon any act
or event occurring prior to the date of this General Release. Without limitation, Mr. Dolan specifically releases the Released Parties from any and all such claims arising out of Mr. Dolan’s employment and separation from the Company,
whether known, or unknown, including, but not limited to, claims under the Change in Control Agreement (except to the extent provided in paragraph 2 of the Letter Agreement with regard to excise tax gross up payments in connection with a change in
control of the Company), claims based on discrimination under federal anti-discrimination laws such as Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, the Americans with
Disabilities Act, the Equal Pay Act, the Family Medical Leave Act, claims under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) (including, without limitation, claims for interference with your rights to benefits
under section 510 of ERISA) and/or any other federal, state, or local law (statutory or decisional), regulation or ordinance, including, but not limited to, the New York State Human Rights Law, the Administrative Code of the City of New York, the
New Jersey Law Against Discrimination, the New Jersey Conscientious Employee Protection Act, the New Jersey Family Leave Act, New Jersey Wage and Hour Laws, and the New Jersey Wage Discrimination Act. Mr. Dolan further acknowledges that the
Company has offered to provide Mr. Dolan with the Letter Agreement in lieu of those benefits to which Mr. Dolan otherwise may have been entitled under any Company severance plan, program or arrangement, if any. 
 Mr. Dolan acknowledges that he is not giving up any claims for any accrued, vested benefits under any employee benefit, equity or
pension plan of the Company, subject to the terms and conditions of such plan and applicable law. Mr. Dolan acknowledges that he is not giving up his right to appeal a denial of a claim for benefits submitted under his medical or dental
coverage, life insurance or disability income program maintained by the Company. Further, Mr. Dolan is not giving up his right to file a claim for unemployment insurance benefits nor his rights, if any, to file a claim for workers’
compensation insurance benefits. Nor is Mr. Dolan giving up his right to indemnification or reimbursement of expenses under the Company’s organizational documents, Bylaws or any agreement concerning indemnification or reimbursement of expenses,
his right to director and officer insurance coverage, if any, any rights or claims Mr. Dolan has under the Letter 
  

 Page 16 of 23 

 Agreement or the Consulting Agreement, including any rights or claims arising out of any breach by the
Company of the Letter Agreement or the Consulting Agreement, any right to reimbursement for business expenses incurred during the course of Mr. Dolan’s employment with the Company and in accordance with the Company’s policy with
respect to the reimbursement of business expenses, any right or claim Mr. Dolan may have to obtain contribution as permitted by applicable law in an instance in which both Mr. Dolan, on the one hand, and the Company, any affiliate of the
Company or any other Released Party, on the other hand, are held to be jointly liable, or any right or claim that may initially arise after the date hereof. 
 Mr. Dolan agrees that this General Release is an integral part of the Letter Agreement, and that all provisions of the Letter Agreement are thereby incorporated in this General Release as if
fully set forth herein. Mr. Dolan acknowledges that this General Release and the Letter Agreement constitute the full and complete understanding and agreement of the parties with respect to the subject matter hereof, and that neither may be
modified except in writing and signed by Mr. Dolan and an authorized officer of the Company. He further represents and agrees that, in signing this General Release, he is not relying on any promises or representations not contained herein and
acknowledges that he is not entitled to any other compensation or benefits from the Company except as otherwise expressly provided for in the Letter Agreement, the Consulting Agreement and herein. 
 BY SIGNING BELOW, MR. DOLAN ACKNOWLEDGES THAT HE HAD AT LEAST 21 DAYS TO CONSIDER THIS GENERAL RELEASE BEFORE SIGNING IT, THAT HE MAY NOT
SIGN IT BEFORE HIS SEPARATION DATE (AS DEFINED IN THE LETTER AGREEMENT), THAT AFTER SIGNING IT, HE HAS 7 DAYS TO REVOKE HIS SIGNATURE AND THAT, PROVIDED HE DOES NOT REVOKE IT, IT WILL BECOME EFFECTIVE ON THE EIGHTH DAY AFTER HE SIGNS IT. BY SIGNING
BELOW, MR. DOLAN ALSO ACKNOWLEDGES THAT HE HAS READ THE ABOVE, UNDERSTANDS WHAT HE IS SIGNING, HAS BEEN ADVISED IN WRITING TO CONSULT AN ATTORNEY BEFORE SIGNING IT, AND IS SIGNING IT VOLUNTARILY AND OF HIS OWN FREE WILL. HE FURTHER AGREES THAT IF
ANY PROVISION OF THIS GENERAL RELEASE IS FOUND TO BE INVALID OR UNENFORCEABLE, IT WILL NOT AFFECT THE VALIDITY OR ENFORCEABILITY OF ANY OTHER PROVISION. HE FURTHER AGREES THAT THIS GENERAL RELEASE WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK, WITHOUT REGARD TO CONFLICT OF LAW RULES AND CONSENTS TO PERSONAL JURISDICTION IN NEW YORK, NEW YORK. 
  

							
	 /s/ Peter Dolan
	  	Executed	 	 November 1, 2006
	 	
	Peter Dolan	  		 		 	

  

 Page 17 of 23 

 EXHIBIT B 
 CONSULTING AGREEMENT 
 AGREEMENT, made and entered into the 30th day of
October, 2006, by and between BRISTOL-MYERS SQUIBB COMPANY (the “Company”) and PETER DOLAN (“Dolan”). 
 WHEREAS, Dolan will cease to be an employee of the Company on October 31, 2006; 
 WHEREAS, Dolan is willing to
offer the Company consulting services as the sole service provider thereafter; and 
 WHEREAS, the Company wishes to avail
itself of the services of Dolan as a consultant to the Company for six (6) months thereafter, and Dolan is willing to perform such services, 
 NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the Company and Dolan (each individually, a “Party,” and collectively,
the “Parties”) agree as follows: 
  

	 1.
	 General. 

 The Company engages Dolan as a consultant for the period as set forth in Section 2 to provide the services as set forth in Section 3, subject to the other terms and conditions set forth in this Agreement. Dolan understands and
agrees that the services rendered by him shall be those of an independent consultant and not of an agent or employee of the Company. In this connection, neither Dolan, nor any employee or agent of Dolan, will be eligible to participate in or
entitled to receive any employee benefits from the Company as a result of this Agreement or the services rendered under it, even if such employee is subsequently determined by any court, the Internal Revenue Service or any other governmental agency
to be a common law employee of the Company. To the extent that any court, the Internal Revenue Service or any other governmental agency determines that Dolan or any employee or agent of Dolan to be a common law employee, Dolan agrees that any such
employee will waive any benefits that may be awarded, or in the event that such employee refuses to waive such benefits, Dolan will reimburse the Company for all expenses attributable to such benefits. Dolan’s services will be of an advisory
nature only, and Dolan will have no power of decision with respect to any matters which are the subject of consultation and will not have any responsibility in connection with the active management of the Company. Dolan further understands that, he
is responsible for the full reporting and payment of local, state and federal taxes and statutory benefits, including Social Security (FICA), workers compensation, disability, and unemployment insurance with respect to any of his employees, agents
or himself. No deductions, withholding, or additional payments for such purposes shall be made by the Company. Dolan shall indemnify and hold the Company and its affiliates harmless with regard to any failure of him to fulfill his obligations with
regard to such taxes or statutory benefits and any act or inaction by his employees or agents in performing the services hereunder. 
  

 Page 18 of 23 

	 2.
	 Term of Services. 

 The term of Dolan’s service under this Agreement shall commence as of November 1, 2006 and shall terminate on April 30, 2007, or earlier upon Dolan’s death, incapacity to provide services for more than twenty
(20) consecutive days or upon notice in the event of Dolan’s willful misconduct, activities detrimental to the interests of the Company or breach of this Agreement which is not cured within five (5) days of written notice thereof (the
“Term of Services”). If Dolan’s services are terminated for any of the reasons set forth in the preceding sentence, the Company shall pay Dolan a pro rated monthly installment of the fee set forth in Section 3 below for the
portion of the month in which such termination occurs. During the Term of Services, Dolan shall provide services to the Company for an average of twenty (20) hours per week at such times as requested by the Company’s Interim Chief
Executive Officer or Chief Executive Officer (the “CEO”). The failure of the CEO to so request Dolan’s services for any period during the Term of Services shall not affect the Company obligations hereunder, including the obligation to
pay Dolan the fees set forth in Section 3 below. 
  

	 3.
	 Services. 

  

	 	 (a)
	 As a consultant to the Company, Dolan shall provide advice to the CEO and/or the CEO’s designee on such matters relating to the business and affairs of the
Company as the CEO shall from time to time request, and in connection therewith, attend such meetings as requested by the CEO. Dolan shall also, upon the request of the CEO, provide written reports on matters on which he is advising. All services
shall be provided by Dolan personally. 

  

	 	 (b)
	 Dolan may provide the services from such location as he deems appropriate, except to the extent the CEO requires him at meetings. The CEO shall use reasonable
business efforts to provide Dolan with advance notice of any such meeting to the extent feasible considering the circumstances. As appropriate, Dolan may provide services by telephone or other form of communication, including email, except as
otherwise specified by the CEO. 

  

	 	 (c)
	 Dolan will not have an office during his consultancy arrangement. Administrative support as reasonably necessary in the performance of his consulting duties will
be provided by the Company. 

  

	 4.
	 Fee For Services. 

 During the Term of Services, for the services described above, Dolan shall receive a monthly fee of fifty thousand dollars ($50,000), payable in arrears on a monthly basis; provided that any amounts that would be payable prior to
May 1, 2007 will be paid in a lump-sum on the first business day of May 2007. Dolan shall be entitled to interest at a simple interest rate of 5.5% on the fees payable under this Section 4 in respect of the period from November 1,

  

 Page 19 of 23 

 2006 through April 30, 2007. Such interest shall accrue as of the first day of the
month in which such fees would have been paid had the payment of such fees not been delayed until the first business day of May 2007, and shall be paid at the same time as such fees are actually paid to Dolan. 
  

	 5.
	 Business Expenses. 

 Dolan will receive full reimbursement for all reasonable expenses (e.g., travel and lodging expenses) incurred by him and his employees in rendering services to the Company under this Agreement, provided that Dolan shall provide
complete and timely documentation of such expenses in accordance with the Company’s standard policy, and further provided that the foregoing shall not include office or staff costs of Dolan. Any expense in excess of one thousand dollars
($1,000) (other than reasonable travel and lodging expenses) shall be pre-approved by the CEO or his designee. 
  

	 6.
	 Non-Competition. 

  

	 	 (a)
	 Dolan agrees that during the Term of Services, Dolan will not, directly or indirectly, engage or participate in any employment or consulting activity that is
competitive with any business of the Company, without the prior written approval of the CEO. Other than the foregoing limitation, Dolan may provide consulting services to other persons or entities during the Term of Services; provided, however,
such services do not breach any provision of the Letter Agreement between Dolan and the Company, dated the date hereof. 

  

	 	 (b)
	 Dolan agrees that he will require any of his employees assigned to work on any project for the Company to execute a “Non-Competition, Non-Solicitation,
Confidential Information and Trade Secrets Agreement” with the Company in the Company’s standard form. 

  

	 7.
	 Confidential Information and Trade Secrets. 

 Dolan hereby acknowledges that he and his employees may have access to and become acquainted with various trade secrets and proprietary information of the Company not available to competitors of
the Company, including without limitation, information relating to its products, product development, trade secrets, customers, suppliers, finances, management, operations and business plans and strategies. Dolan covenants that he and his employees
will not, directly or indirectly, disclose or use such information that is not otherwise a matter of public record, except as is necessary and appropriate in connection with rendering by him of services to the Company under this Agreement or except
as may be required by a court of law, a governmental agency having supervisory authority over the business of the Company or by any administrative or legislative body (including a committee thereof) with apparent jurisdiction to order him to
divulge, disclose or make accessible such information. Dolan agrees that in the event that he or an employee of Dolan does directly or indirectly, disclose or use such information in violation of the foregoing, Dolan shall 
  

 Page 20 of 23 

 reimburse the Company for any and all liability arising out of and in connection with
such disclosure. 
  

	 8.
	 Governing Law. 

 The validity, interpretation and performance of this Agreement shall be governed by the laws of the State of New York, without regard to the principles of conflict of law. 
  

	 9.
	 Severabiiity. 

 If any one or more of the provisions contained in this Agreement is held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision thereof. 
  

	 10.
	 Amendment/Waiver. 

 No provision in this Agreement may be amended unless such amendment is agreed to in writing and signed by Dolan and an authorized officer of the Company. No waiver by either Party of any breach by the other Party of any condition or
provision contained in this Agreement to be performed by such other Party shall be deemed a waiver of a similar or dissimilar condition or provision at the same or any prior or subsequent time. Any waiver must be in writing and signed by Dolan or an
authorized officer of the company, as the case may be. 
  

	 11.
	 Notices. 

 For the purpose of this Agreement, notices, demands and all other communications provided for in this Agreement will be in writing and will be sent by messenger or overnight courier (provided in each case, confirmation of receipt is
obtained), certified or registered mail, postage prepaid and return receipt requested or by facsimile transmission to the parties at their respective addresses and fax numbers set forth below or to such other address or fax number as to which notice
is given. 
  

			
	 If to Dolan:
	  	 At the last address on the records of the Company

		
	 If to the Company:
	  	 345 Park Avenue

		  	 New York, NY 10154

		  	 Attention: Senior Vice President - Human Resources

		
	 With a copy to:
	  	 Corporate Secretary

		  	 Bristol-Myers Squibb Company
 345 Park Avenue
 New York, NY 10154

 Notices, demands and other communications will be deemed given on delivery
thereof. 
  

 Page 21 of 23 

	 12.
	 Headings. 

 The headings of the sections contained in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any provision of this Agreement. 
  

	 13.
	 Successors and Assigns. 

 Except as otherwise expressly provided herein, this Agreement will be binding upon and inure to the benefit of the parties and their respective successors, heirs (in Dolan’s case) or assigns. The Company will
require any assignee of all or substantially all of the assets of the Company to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such assignment had taken
place. As used in this Agreement, “the Company” will mean the Company as defined above and any successor to its business and/or assets which by reason hereof assumes and agrees to perform this Agreement by operation of law or otherwise. In
the event of Dolan’s death or a judicial determination of his incompetence, with respect to any payments, entitlements or benefits payable or due hereunder, references in this Agreement to Dolan will be deemed to refer, where appropriate, to
his legal representatives or his beneficiary or beneficiaries. Anything herein to the contrary notwithstanding, the Company may not assign this Agreement except to a successor to the Company, and any such assignment by the Company will not relieve
it of its obligations hereunder. None of Dolan’s rights or obligations under this Agreement may be assigned or transferred by him other than his rights to compensation and benefits, which may be transferred only by will or operation of law,
except as otherwise specifically provided in this Agreement or other applicable plans or agreements of the Company. 
  

	 14.
	 Arbitration. 

 Any disputes arising under or in connection with this Agreement shall be resolved, except as provided in the last sentence hereof, by binding arbitration, to be held in New York, New York, in accordance with the rules and procedures of the
American Arbitration Association. Judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Each Party shall bear his or its own costs of the arbitration or litigation, including, without
limitation, his or its attorneys’ fees. In the event of a breach or threatened breach of Section 6 or 7 of this Agreement, Dolan agrees that the Company shall be entitled to injunctive or other equitable relief in a court of appropriate
jurisdiction to remedy any such breach or threatened breach, and Dolan acknowledges that damages would be inadequate and insufficient. 
 [SIGNATURES ON FOLLOWING PAGE] 
  

 Page 22 of 23 

 IN WITNESS WHEREOF, the Company and Dolan have caused this Agreement to be executed as of
the day and year first above written. 
  

			
	 Bristol-Myers Squibb Company

		
	 By:
	 	 /s/ Stephen E. Bear
  

		 	 Stephen E. Bear

		 	 Senior Vice President, Human Resources

	
	 Peter Dolan

		
	 By:
	 	 /s/ Peter Dolan
  

		 	 Peter Dolan

  

 Page 23 of 23

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