Document:

Exhibit
10.2

 

AMENDED
AND RESTATED SECURITY AGREEMENT

 

among

 

MERISANT
COMPANY,

as Borrower,

 

and
Each Other Grantor

 

From
Time to Time Party Hereto

 

and

 

CREDIT
SUISSE

as Collateral Agent

 

Dated
as of May 9, 2007

 

 

TABLE OF CONTENTS

 

	
  

  	
  Page

  

 

 

	
  

  	
   

  	
  ARTICLE I

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  DEFINED TERMS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 1.1

  	
   

  	
  DEFINITIONS

  	
   

  	
  2

  
	
  Section 1.2

  	
   

  	
  Certain Other Terms

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ARTICLE II

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GRANT OF
  SECURITY INTEREST

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 2.1

  	
   

  	
  Collateral

  	
   

  	
  8

  
	
  Section 2.2

  	
   

  	
  Grant of Security Interest in Collateral

  	
   

  	
  10

  
	
  Section 2.3

  	
   

  	
  Cash Collateral Accounts

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ARTICLE III

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  REPRESENTATIONS
  AND WARRANTIES

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.1

  	
   

  	
  Title; No Other Liens

  	
   

  	
  11

  
	
  Section 3.2

  	
   

  	
  Perfection and Priority

  	
   

  	
  11

  
	
  Section 3.3

  	
   

  	
  State of Incorporation; Chief Executive Office

  	
   

  	
  11

  
	
  Section 3.4

  	
   

  	
  Inventory and Equipment

  	
   

  	
  11

  
	
  Section 3.5

  	
   

  	
  Pledged Collateral

  	
   

  	
  11

  
	
  Section 3.6

  	
   

  	
  Accounts

  	
   

  	
  13

  
	
  Section 3.7

  	
   

  	
  Intellectual Property

  	
   

  	
  13

  
	
  Section 3.8

  	
   

  	
  Deposit Accounts; Securities Accounts; Commodity
  Accounts; Commercial Tort Claims

  	
   

  	
  14

  
	
  Section 3.9

  	
   

  	
  Letter-of-Credit Rights

  	
   

  	
  14

  
	
  Section 3.10

  	
   

  	
  Vehicles

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ARTICLE IV

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  COVENANTS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 4.1

  	
   

  	
  Generally

  	
   

  	
  15

  
	
  Section 4.2

  	
   

  	
  Maintenance of Perfected Security Interest; Further
  Documentation

  	
   

  	
  15

  
	
  Section 4.3

  	
   

  	
  Changes in Locations, Name, etc

  	
   

  	
  16

  
	
  Section 4.4

  	
   

  	
  Pledged Collateral

  	
   

  	
  16

  
	
  Section 4.5

  	
   

  	
  Control Accounts; Eligible Deposit Accounts

  	
   

  	
  18

  
	
  Section 4.6

  	
   

  	
  Accounts

  	
   

  	
  19

  

 

 

	
  Section 4.7

  	
   

  	
  Delivery of Instruments and Chattel Paper

  	
   

  	
  19

  
	
  Section 4.8

  	
   

  	
  Intellectual Property

  	
   

  	
  20

  
	
  Section 4.9

  	
   

  	
  Vehicles

  	
   

  	
  21

  
	
  Section 4.10

  	
   

  	
  Payment of Obligations

  	
   

  	
  22

  
	
  Section 4.11

  	
   

  	
  Commercial Tort Claims

  	
   

  	
  22

  
	
  Section 4.12

  	
   

  	
  Letter of Credit Rights

  	
   

  	
  22

  
	
  Section 4.13

  	
   

  	
  Limitations on Dispositions of Collateral

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ARTICLE V

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  REMEDIAL
  PROVISIONS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  5.1

  	
   

  	
  Code and Other Remedies

  	
   

  	
  23

  
	
  Section 5.2

  	
   

  	
  Accounts and Payments in Respect of General
  Intangibles

  	
   

  	
  24

  
	
  Section 5.3

  	
   

  	
  Pledged Collateral

  	
   

  	
  25

  
	
  Section 5.4

  	
   

  	
  Proceeds to be Turned Over to Collateral Agent

  	
   

  	
  26

  
	
  Section 5.5

  	
   

  	
  Registration Rights

  	
   

  	
  26

  
	
  Section 5.6

  	
   

  	
  Deficiency

  	
   

  	
  27

  
	
  Section 5.7

  	
   

  	
  Grant of Intellectual Property License

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ARTICLE VI

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  THE COLLATERAL
  AGENT

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 6.1

  	
   

  	
  Collateral Agent’s Appointment as Attorney-In-Fact

  	
   

  	
  28

  
	
  Section 6.2

  	
   

  	
  Duty of Collateral Agent

  	
   

  	
  30

  
	
  Section 6.3

  	
   

  	
  Authority to File Financing Statements

  	
   

  	
  30

  
	
  Section 6.4

  	
   

  	
  Authority of Collateral Agent

  	
   

  	
  30

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ARTICLE VII

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MISCELLANEOUS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.1

  	
   

  	
  Amendments in Writing

  	
   

  	
  31

  
	
  Section 7.2

  	
   

  	
  Notices

  	
   

  	
  31

  
	
  Section 7.3

  	
   

  	
  No Waiver by Course of Conduct; Cumulative Remedies

  	
   

  	
  31

  
	
  Section 7.4

  	
   

  	
  Successors and Assigns

  	
   

  	
  31

  
	
  Section 7.5

  	
   

  	
  Counterparts

  	
   

  	
  31

  
	
  Section 7.6

  	
   

  	
  Severability

  	
   

  	
  32

  
	
  Section 7.7

  	
   

  	
  Section Headings

  	
   

  	
  32

  
	
  Section 7.8

  	
   

  	
  Entire Agreement

  	
   

  	
  32

  
	
  Section 7.9

  	
   

  	
  Governing Law

  	
   

  	
  32

  
	
  Section 7.10

  	
   

  	
  Submission to Jurisdiction; Service of Process

  	
   

  	
  32

  
	
  Section 7.11

  	
   

  	
  Waiver of Jury Trial

  	
   

  	
  33

  
	
  Section 7.12

  	
   

  	
  Additional Grantors

  	
   

  	
  33

  
	
  Section 7.13

  	
   

  	
  Release of Collateral

  	
   

  	
  33

  
	
  Section 7.14

  	
   

  	
  Reinstatement

  	
   

  	
  33

  
	
  Section 7.15

  	
   

  	
  Enforcement of Liens on Collateral Located in Spain

  	
   

  	
  34

  

 

 ii

SECURITY
AGREEMENT

AMENDED AND RESTATED SECURITY AGREEMENT (this “Agreement”),
dated as of May 9, 2007, by Merisant Company, a Delaware corporation (the “Borrower”) and each of the other entities
listed on the signature pages hereof or which becomes a party hereto pursuant
to Section 7.12 (each a “Grantor”
and, collectively, the “Grantors”), in
favor of Credit Suisse, as agent for the Secured Parties (as defined in the
Credit Agreement referred to below) (in such capacity, the “Collateral Agent”).

W I T N E S S E T H:

WHEREAS, pursuant to the Credit Agreement, dated as of May 9, 2007 (as
the same may be amended, restated, supplemented or otherwise modified from time
to time, the “Credit Agreement”) among the Borrower, Merisant Worldwide,
Inc. (“Holdings”), the Lenders and Issuers party thereto, Credit Suisse,
as administrative agent for the Lenders and Issuers (in such capacity, the “Administrative
Agent”) and as Collateral Agent and Credit Suisse Securities (USA) LLC and
Jefferies Finance LLC as co-arrangers, Credit Suisse Securities (USA) LLC, as
bookrunner and Jefferies Finance LLC, as documentation agent have severally
agreed to make extensions of credit to the Borrower upon the terms and subject
to the conditions set forth therein; and

WHEREAS, the Grantors other than the Borrower are party to the Guaranty
pursuant to which they have guaranteed the Obligations; and

WHEREAS, a condition precedent to the obligation of the Lenders and the
Issuers to make their respective extensions of credit to the Borrower under the
Credit Agreement that the Grantors shall have executed and delivered this
Agreement to the Collateral Agent;

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

ARTICLE I

DEFINED TERMS

Section 1.1             DEFINITIONS.

(a)        Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein
have the meanings given to them in the Credit Agreement.

(b)        Terms used
herein that are defined in the UCC have the meanings given to them in the UCC,
including the following terms (which are capitalized herein):

“ACCOUNT DEBTOR”

“ACCOUNTS”

“CHATTEL PAPER”

“COMMERCIAL TORT CLAIM”

“COMMODITY ACCOUNT”

“COMMODITY INTERMEDIARY”

“CONTROL”

“DEPOSIT ACCOUNT”

“DOCUMENTS”

“ENTITLEMENT HOLDER”

“ENTITLEMENT ORDER”

“EQUIPMENT”

“FINANCIAL ASSET”

“FIXTURES”

“GENERAL INTANGIBLES”

“GOODS”

“INSTRUMENTS”

“INVENTORY”

“INVESTMENT PROPERTY”

“LETTER-OF-CREDIT RIGHTS”

“PAYMENT INTANGIBLE”

“PROCEEDS”

“PROMISSORY NOTES”

“SECURITY”

“SECURITIES ACCOUNT”

“SECURITIES INTERMEDIARY”

“SECURITY ENTITLEMENT”

“SUPPORTING OBLIGATION”

(c)        The following
terms shall have the following meanings:

 2
 

“Additional Pledged Collateral”
means all shares of, limited and/or general partnership interests in, and
limited liability company interests in, and all securities convertible into,
and warrants, options and other rights to purchase or otherwise acquire, stock
of, either (i) any Person that, after the date of this Agreement, as a result
of any occurrence, becomes a direct Subsidiary of any Grantor or (ii) any
issuer of Pledged Stock, any Partnership or any LLC that is acquired by any
Grantor after the date hereof; all certificates or other instruments
representing any of the foregoing; all Security Entitlements of any Grantor in
respect of any of the foregoing; all additional indebtedness from time to time
owed to any Grantor by any obligor on the Pledged Notes and the instruments
evidencing such indebtedness; and all interest, cash, instruments and other
property or Proceeds from time to time received, receivable or otherwise
distributed in respect of or in exchange for any of the foregoing.  Additional Pledged Collateral may be General
Intangibles or Investment Property.

“Administrative Agent” has the meaning specified in the
recitals.

“Agreement” means this Security
Agreement.

“Borrower” has the meaning specified in the preamble.

“Cash Collateral Account” means
any Deposit Account or Securities Account established by the Collateral Agent
as provided in Section 2.3 in which cash and Cash Equivalents may from
time to time be on deposit or held therein as provided in Section 5.2 or
Section 5.4 of the Credit Agreement.

“Collateral” has the meaning
specified in Section 2.1.

“Collateral Agent” has the meaning specified in the preamble.

“Commodity Account Control Agreement”  means a control agreement reasonably
satisfactory to the Collateral Agent executed by the relevant Grantor and the
Collateral Agent and acknowledged and agreed to by the relevant Commodity
Intermediary.

“Control Account” means a
Securities Account subject to an effective Securities Account Control Agreement
maintained by any Grantor with an Eligible Securities Intermediary, and
includes all Financial Assets held therein and all certificates and
instruments, if any, representing or evidencing the Financial Assets contained
therein, or a Commodity Account subject to an effective Commodity Account
Control Agreement.

“Copyrights” means (a) all
copyrights arising under the laws of the United States, any other country or
any political subdivision thereof, whether registered or unregistered and 

 3
 

whether published or unpublished, all registrations
and recordings thereof, and all applications in connection therewith, including
all registrations, recordings and applications in the United States Copyright Office
or in any foreign counterparts thereof and (b) the right to obtain all renewals
thereof.

“Copyright Licenses” means any
written agreement naming any Grantor as licensor or licensee granting any right
under any Copyright, including the grant of rights to copy, publicly perform,
create derivative works, manufacture, distribute, exploit and sell materials
derived from any Copyright.

“Credit Agreement” has the meaning specified in the recitals.

“Deposit Account Bank” means a
financial institution selected or approved by the Collateral Agent and with
respect to which a Grantor has delivered to the Collateral Agent an executed
Deposit Account Control Agreement.

“Deposit Account Control Agreement”
means a letter agreement, substantially in the form of Annex 1 (with
such changes as may be agreed to by the Collateral Agent), executed by the
Grantor and the Collateral Agent and acknowledged and agreed to by the relevant
Deposit Account Bank.

“Eligible Deposit Account” means
a Deposit Account maintained by any Grantor with a Deposit Account Bank which
Deposit Account is the subject of an effective Deposit Account Control
Agreement, and includes all monies on deposit therein and all certificates and
instruments, if any, representing or evidencing such Deposit Account.

“Eligible Securities Intermediary”
means a Securities Intermediary or Commodity Intermediary selected or approved
by the Collateral Agent and with respect to which a Grantor has delivered to
the Collateral Agent an executed Securities Account Control Agreement.

“Grantor” has the meaning specified in the preamble.

“Holdings” has the meaning specified in the recitals.

“Intellectual Property” means,
collectively, all rights, priorities and privileges of any Grantor relating to
intellectual property, whether arising under United States, multinational or
foreign laws or otherwise, including Copyrights, Copyright Licenses, Patents,
Patent Licenses, Trademarks, Trademark Licenses and trade secrets, and all
rights to sue at law or in equity for any infringement or other impairment
thereof, including the right to receive all proceeds and damages therefrom.

 4
 

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

“Joinder Agreement” shall mean a joinder agreement,
substantially in the form of Annex 4.

“LLC” means each limited
liability company.

“LLC Agreement” means each
operating agreement with respect to an LLC, as each agreement has heretofore
been and may hereafter be amended, restated, supplemented or otherwise modified
from time to time.

“Material Intellectual Property”
means Intellectual Property owned by, licensed to or otherwise used by a
Grantor which is material to its business, including those set forth on Schedule
5.

“Participations” has the meaning specified in Section 7.15.

“Partnership” means any general
partnership, limited partnership, limited liability partnership or other
partnership.

“Partnership Agreement” means
each partnership agreement governing a Partnership, as each such agreement has
heretofore been and may hereafter be amended, restated, supplemented or
otherwise modified.

“Patents” means (a) all letters
patent of the United States, any other country or any political subdivision
thereof and all reissues and extensions thereof, (b) all provisional and
non-provisional applications for letters patent of the United States or any
other country and all divisions, continuations and continuations-in-part
thereof, and (c) all rights to obtain any reissues or extensions of the foregoing.

“Patent License” means all
agreements, whether written or oral, providing for the grant by or to any
Grantor of any right to manufacture, use, import, sell or offer for sale any
invention covered in whole or in part by a Patent.

“Pledge Amendment” has the meaning specified in Section 4.4(a).

 5
 

“Pledged Collateral” means,
collectively, the Pledged Notes, the Pledged Equity Collateral, all
certificates or other instruments representing or evidencing any of the
foregoing, and all Security Entitlements of any Grantor in respect of any of
the foregoing whether or not characterized as General Intangibles or Investment
Property.

“Pledged Equity Collateral”
means, collectively, the Pledged Stock, the Pledged Partnership Interests, the
Pledged LLC Interests, any other Investment Property of any Grantor, all
certificates or other instruments representing any of the foregoing and all
Security Entitlements of any Grantor in respect of any of the foregoing.

“Pledged LLC Interests” means all
of any Grantor’s right, title and interest as a member of any LLC and all of
such Grantor’s right, title and interest in, to and under any LLC Agreement to
which it is a party, including those set forth on Schedule 2.

“Pledged Notes” means all right,
title and interest of any Grantor, in Instruments or Promissory Notes
evidencing such indebtedness including all indebtedness for money owed to such
Grantor and all other indebtedness described on Schedule 2, issued by
the obligors named therein.

“Pledged Partnership Interests”
means all right, title and interest of any Grantor in any Partnerships and all
right, title and interest of any Grantor in, to and under any Partnership
Agreements to which it is a party, including those set forth on Schedule 2.

“Pledged Stock” means the shares
of Stock owned by each Grantor, including all shares of Stock listed on Schedule
2; provided, however, that only the outstanding Voting Stock
of an Excluded Foreign Subsidiary possessing up to but not exceeding 65% of the
voting power of all classes of Stock of such Excluded Foreign Subsidiary
entitled to vote shall be deemed to be pledged hereunder.

“Related Contract” means each
security agreement, lease and other contract securing or otherwise relating to
any Account.

“Secured Obligations” means, (a) in the case of the Borrower,
the Obligations, and, (b) in the case of any other Loan Party, the obligations
of such Loan Party and each other Loan Party under the Guaranty and the other
Loan Documents to which it is a party.

“Securities Account Control Agreement”
means a letter agreement, substantially in the form of Annex 2 (with
such changes as may be agreed to by the Collateral Agent), executed by the
relevant Grantor and the Collateral Agent and acknowledged and agreed to by the
relevant Eligible Securities Intermediary.

 6
 

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

“Trademarks” means (a) all
trademarks, trade names, corporate names, company names, business names,
fictitious business names, trade styles, service marks, logos and other indicators
of the source of goods and services, and all goodwill associated therewith, now
existing or hereafter adopted or acquired, all registrations and recordings
thereof, and all applications in connection therewith, whether in the United
States Patent and Trademark Office or in any similar office or agency of the
United States, any State thereof or any other country or any political
subdivision thereof, or otherwise, and all common-law rights related thereto,
and (b) the right to obtain all renewals thereof.

“Trademark License” means any
agreement, whether written or oral, providing for the grant by or to any
Grantor of any right to use any Trademark.

“Trigger Date” has the meaning
specified in Section 4.5.

“UCC” means the Uniform
Commercial Code as from time to time in effect in the State of New York; provided,
however, that in the event that, by reason of mandatory provisions of
law, any or all of the perfection or priority of the Collateral Agent’s and the
Secured Parties’ security interest in any Collateral is governed by the Uniform
Commercial Code as in effect in a jurisdiction other than the State of New
York, the term “UCC’ shall mean the Uniform Commercial Code as in effect in
such other jurisdiction for purposes of the provisions hereof relating to such
perfection or priority and for purposes of definitions related to such
provisions; provided, further, that if the UCC is amended after the date
hereof, such amendment will not be given effect for the purposes of this
Agreement if and to the extent the result of such amendment would be to limit
or eliminate any item of Collateral.

“Vehicles” means all vehicles
covered by a certificate of title law of any state.

Section 1.2             Certain Other Terms.

(a)        In this
Agreement, in the computation of periods of time from a specified date to a
later specified date, the word “from” means “from and including” and the words “to”
and “until” each mean “to but excluding” and the word “through” means “to and
including.”

(b)        The words “herein,”
“hereof,” “hereto” and “hereunder” and similar words refer to this Agreement as
a whole and not to any particular Article, Section, subsection or clause in
this Agreement.

 

 7

(c)        References
herein to an Annex, Schedule, Article, Section, subsection or clause refer to
the appropriate Annex or Schedule to, or Article, Section, subsection or clause
in this Agreement.

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

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

(f)         Any
reference in this Agreement to a Loan Document shall include all appendices,
exhibits and schedules thereto, and, unless specifically stated otherwise all
amendments, restatements, supplements or other modifications thereto, and as
the same may be in effect at any and all times such reference becomes
operative.

(g)        The term “including”
means “including without limitation” except when used in the computation of
time periods.

(h)        The term “or”
has, except where otherwise indicated, the inclusive meaning represented by the
phrase “and/or”.

(i)         The terms “Lender,”
“Issuer,” “Collateral Agent              ,”
“Administrative Agent” and “Secured Party” include their respective successors.

(j)         References
in this Agreement to any statute shall be to such statute as amended or
modified and in effect from time to time.

ARTICLE II

GRANT OF SECURITY INTEREST

Section 2.1             Collateral.  For the purposes of this Agreement, all of
the following property now owned or at any time hereafter acquired by a Grantor
or in which a Grantor now has or at any time in the future may acquire any
right, title or interest is collectively referred to as the “Collateral”:

(a)        all Accounts;

 8
 

(b)        all
Inventory;

(c)        all
Equipment;

(d)        all Goods,
including, without limitation, Inventory, Equipment and Fixtures;

(e)        all General
Intangibles, including all Payment Intangibles;

(f)         all
Investment Property, including all Control Accounts, Securities Accounts and
Commodities Accounts;

(g)        all
Documents, Instruments, Chattel Paper and Letter-of-Credit Rights;

(h)        all cash and
Deposit Accounts (including any Eligible Deposit Accounts);

(i)         all
Intellectual Property;

(j)         all Cash
Collateral Accounts;

(k)        all Pledged
Collateral;

(l)         all
Vehicles;

(m)       all Supporting
Obligations;

(n)        all
Commercial Tort Claims, including those listed on Schedule 7;

(o)        all books and
records pertaining to the other property described in this Section 2.1;

(p)        all other
personal property of such Grantor whether tangible or intangible wherever
located;

 9
 

(q)        all property
of any Grantor held by the Collateral Agent or any other Secured Party,
including all property of every description, in the possession or custody of or
in transit to Collateral Agent or such Secured Party for any purpose, including
safekeeping, collection or pledge, for the account of such Grantor, or as to
which such Grantor may have any right or power; and

(r)         to the
extent not otherwise included, all Proceeds and products of each of the
foregoing and all accessions to, substitutions and replacements for, and rents,
profits and products of, each of the foregoing, any and all proceeds of any
insurance, indemnity, warranty or guaranty payable to the Grantor from time to
time with respect to any of the foregoing.

Section 2.2             Grant of Security Interest in
Collateral.  Each Grantor, as
collateral security for the full, prompt and complete payment and performance
when due (whether at stated maturity, by acceleration or otherwise) of the
Secured Obligations of such Grantor, hereby collaterally assigns, mortgages,
pledges and hypothecates to the Collateral Agent for the benefit of the Secured
Parties, and grants to the Collateral Agent for the benefit of the Secured
Parties a lien on and security interest in, all of its right, title and
interest in, to and under the Collateral of such Grantor.

Section 2.3             Cash Collateral Accounts.  The Collateral Agent may from time to time
establish one or more other Deposit Accounts and one or more Securities
Accounts with such depositaries and Securities Intermediaries as it, in its
sole discretion, shall determine for purposes of Sections 2.4(b), 2.13(f) or
7.3 of the Credit Agreement or otherwise. 
Each such account shall be in the name of the Collateral Agent (but may
also have words referring to the Borrower and the account’s purpose).  The Grantors agree that each such account
shall be under the sole dominion and control of the Collateral Agent and
subject to a control agreement substantially in the form of Annex 1 for
Deposit Accounts and Annex 2 for Securities Accounts.  The Collateral Agent shall be the Entitlement
Holder with respect to each such Securities Account and the only Person
authorized to give Entitlement Orders with respect thereto.  Without limiting the foregoing, funds on
deposit in any Cash Collateral Account may be invested in Cash Equivalents at
the direction of the Collateral Agent and, except during the continuance of an
Event of Default, the Collateral Agent agrees with the Grantor to issue
Entitlement Orders for such investments in Cash Equivalents as requested by the
Borrower; provided, however, that the Collateral Agent shall not
have any responsibility for, or bear any risk of loss of, any such investment
or income thereon.  Neither the Borrower
nor any other Loan Party or Person claiming on behalf of or through the
Borrower or any other Loan Party shall have any right to demand payment of any
of the funds held in any Cash Collateral Account at any time an Event of
Default shall have occurred and be continuing. 
The Collateral Agent shall apply all funds on deposit in a Cash
Collateral Account as provided in the Credit Agreement and, except during the
continuance of an Event of Default, agrees to cause any funds remaining on
deposit therein after all Obligations then due and payable have been satisfied
(other than any funds deposited in accordance with clause (x)(B)(ii) or clause
(y)(B)(ii) of Section 2.4(b) of the Credit Agreement) at the written direction
of the Borrower.

 10
 

ARTICLE III

REPRESENTATIONS AND WARRANTIES

To induce the Lenders, the Issuers, the Administrative Agent and the
Collateral Agent to enter into the Credit Agreement, each Grantor hereby
represents and warrants to the Collateral Agent and the other Secured Parties
that:

Section 3.1             Title; No Other Liens.  Except for the Lien granted to the Collateral
Agent pursuant to this Agreement and the other Liens permitted to exist on the
Collateral (other than the Pledged Stock or the Pledged Notes) under Section
6.3 of the Credit Agreement, such Grantor is the record and beneficial owner of
the Collateral pledged by it hereunder free and clear of any and all
Liens.  For the avoidance of doubt, it is
understood and agreed that such Grantor may, as part of its business, grant
licenses to third parties to use Intellectual Property owned or developed by
such Grantor.  For purposes of this
Agreement and the other Loan Documents, such licensing activity shall not
constitute a “Lien” on such Intellectual Property.

Section 3.2             Perfection and Priority.  Upon completion of the filings and other
actions specified on Schedule 3 hereto, which, in the case of all
filings and other documents referred to on such Schedule, have been delivered
to the Collateral Agent in completed and, where required, duly executed form,
the security interest granted pursuant to this Agreement constitutes a valid
and continuing first priority perfected security interest in favor of the
Collateral Agent on behalf of the Secured Parties in the Collateral.  Such security interest is prior to all other
Liens on the Collateral except (other than with respect to the Pledged Stock or
the Pledged Notes) for Liens which have priority over the Collateral Agent’s
Lien as permitted under Section 6.3 of the Credit Agreement.

Section 3.3             State of Incorporation; Chief
Executive Office.

(a)        Except as set
forth on Schedule 1, within the five-year period preceding the Amendment
Closing Date such Grantor has not had, or operated in any jurisdiction under,
any trade name, fictitious name or other name other than its legal name.

(b)        On the
Amendment Closing Date, such Grantor’s legal name, jurisdiction of
organization, organizational identification number, if any, and the location of
such Grantor’s chief executive office or sole place of business are specified
on Schedule 1.

Section 3.4             Inventory and Equipment.  On the Amendment Closing Date, such Grantor’s
Inventory and Equipment (other than mobile goods and Inventory or Equipment in
transit) are kept at the locations listed on Schedule 4.

Section 3.5             Pledged Collateral.

 11
 

(a)        The Pledged
Stock, Pledged Partnership Interests and Pledged LLC Interests pledged
hereunder by such Grantor and listed on Schedule 2 constitute that
percentage of the issued and outstanding equity of all classes of each issuer
thereof as set forth on Schedule 2.

(b)        All of the
Pledged Stock, Pledged Partnership Interests and Pledged LLC Interests held by
such Grantor as of the Amendment Closing Date are listed on Schedule 2
and have been duly and validly issued and are fully paid and nonassessable.

(c)        The Pledged
Notes pledged hereunder by such Grantor, being all of the Pledged Notes held by
such Grantor are listed on Schedule 2.

(d)        (i) Each of
the Pledged Notes, as to which the Borrower or any Subsidiary is an obligor,
constitutes the legal, valid and binding obligation of the obligor with respect
thereto, enforceable in accordance with its terms, subject to the effects of
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
other similar laws relating to or affecting creditors’ rights generally, and
general equitable principles (whether considered in a proceeding in equity or
at law); and (ii) to the best knowledge of any Grantor that is a holder
thereof, each other Pledged Note constitutes the legal, valid and binding
obligation of the obligor with respect thereto, enforceable in accordance with
its terms, subject to the effects of bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium and other similar laws relating to or
affecting creditors’ rights generally, and general equitable principles
(whether considered in a proceeding in equity or at law).

(e)        All Pledged
Collateral and, if applicable, any Additional Pledged Collateral, consisting of
certificated securities or Instruments (other than as specified in Section
4.7) has been delivered to the Collateral Agent in accordance with Section
4.4(a).

(f)         All Pledged
Collateral held by a Securities Intermediary in a Securities Account is (or, at
all times after the Trigger Date specified in Section 4.5, will be) in a
Control Account.

(g)        Other than
the Pledged Partnership Interests and the Pledged LLC Interests that constitute
General Intangibles, there is no Pledged Collateral other than that represented
by certificated securities or Instruments in the possession of the Collateral
Agent or its bailee or agent or that consisting of Financial Assets that are
(or, at all times after the Trigger Date specified in Section 4.5, will
be) held in a Control Account.  Each
Pledged Partnership Interest and Pledged LLC Interest is not traded on
securities exchanges or in securities markets and is not “investment company
securities” (as defined in section 8-103(b) of the UCC).  The LLC Agreements or Partnership Agreements,
as applicable, pledged hereunder do not provide and shall not be amended to
provide, certificates representing such LLC or Partnership interests,

 12
 

as
applicable, and does not otherwise provide and shall not be amended otherwise
to provide that such interests are securities governed by the UCC.

(h)        No Person
other than the Collateral Agent has Control over any Investment Property of
such Grantor.

(i)         Each LLC
Agreement governing any Pledged LLC Interest and each Partnership Agreement
governing any Pledged Partnership Interest provide that, upon the occurrence
and during the continuance of an Event of Default, the Collateral Agent shall
be entitled to exercise all of the rights of the Grantor granting the security
interest therein, and that a transferee or assignee of a membership interest or
partnership interest, as the case may be, of such LLC or Partnership, as the
case may be, shall become a member or partner, as the case may be, of such LLC
or Partnership, as the case may be, entitled to participate in the management
thereof and, upon the transfer of the entire interest of such Grantor, such
Grantor ceases to be a member or partner, as the case may be.

(j)         The shares
of Pledged Stock pledged by such Grantor hereunder constitute all the issued
and outstanding shares of all classes of the Capital Stock of each Subsidiary
of Holdings or the Borrower owned by such Grantor or, solely in the case of any
Voting Stock of any Excluded Foreign Subsidiary, at least 65% of the Voting
Stock of such Excluded Foreign Subsidiary.

Section 3.6             Accounts.  No amount payable to such Grantor under or in
connection with any Account is evidenced by any Instrument or Chattel Paper
which has not been delivered to the Collateral Agent, properly endorsed for
transfer, to the extent delivery is required by Section 4.4.

Section 3.7             Intellectual Property.

(a)        Schedule 5
is a complete and accurate list of all Material Intellectual Property of such
Grantor on the date hereof, separately identifying that which is owned by such
Grantor and that which is licensed to such Grantor.  The Material Intellectual Property set forth
on Schedule 5 for such Grantor constitutes all of the intellectual
property rights necessary for such Grantor to conduct its business as it is
currently conducted and contemplated to be conducted.

(b)        Such Grantor
is the sole and exclusive owner of the entire right and interest in and to all
Intellectual Property on Schedule 5 that is owned by such Grantor.

(c)        On the date
hereof, all Material Intellectual Property owned by such Grantor is valid,
subsisting, unexpired and enforceable, has not been adjudged invalid and has

 13
 

not been
abandoned, opposed or cancelled or otherwise challenged, in whole or in
part.  The conduct of business of such
Grantor does not infringe the Intellectual Property rights of any other Person
and no claim has been asserted or is currently pending or alleging such
infringement and to the knowledge of the Grantor, there is no basis for such a
claim.

(d)        Except as set
forth in Schedule 5, on the Amendment Closing Date, none of the Material
Intellectual Property owned by such Grantor is the subject of any licensing or
franchise agreement pursuant to which such Grantor is the licensor or
franchisor.

(e)        No holding,
decision or judgment has been rendered by any Governmental Authority that would
limit, cancel or question the validity or enforceability of, or such Grantor’s
rights in, any Material Intellectual Property.

(f)         No action or
proceeding seeking to limit, cancel or question the validity or enforceability
of any Material Intellectual Property owned by such Grantor or such Grantor’s
ownership interest therein is on the date hereof pending or, to the knowledge
of such Grantor, threatened and, to such Grantor’s knowledge, there is no basis
for such an action or proceeding.  There
are no claims, judgments or settlements to be paid by such Grantor relating to
the Material Intellectual Property nor any injunctions issued limiting or
barring use of any Material Intellectual Property.

(g)        No action or
proceeding seeking to limit, cancel or question the validity of any
intellectual property rights of any other Person or such Person’s ownership
interest therein is on the date hereof pending or threatened by such Grantor
and, to the best of such Grantor’s knowledge, there is no basis for such an
action or proceeding.  No claim has been
asserted or is currently pending by such Grantor alleging the conduct of any
other Person is infringing the Intellectual Property of such Grantor and, to
the knowledge of such Grantor, no basis exists for such a claim.

Section 3.8             Deposit Accounts; Securities
Accounts; Commodity Accounts; Commercial Tort Claims.  The only Deposit Accounts, Securities
Accounts or Commodity Accounts maintained by any Grantor on the Amendment
Closing Date are those listed on Schedule 6, which sets forth such
information separately for each Grantor. 
On the Amendment Closing Date, no Grantor holds any Commercial Tort
Claims having a value individually or in the aggregate in excess of $5,000,000
except as specified on Schedule 7.

Section 3.9             Letter-of-Credit Rights.  Such Grantor is not a beneficiary or assignee
under any letter of credit other than the letters of credit described on Schedule
8.  Each letter of credit listed on Schedule
8 constitutes a Supporting Obligation for another item of the Collateral.

Section 3.10           Vehicles.  All Vehicles owned by such Grantor are listed
on Schedule 9.

 14

ARTICLE IV

COVENANTS

As long as any of the Obligations (other than indemnity or
reimbursement obligations not then payable) or the Commitments remain
outstanding, unless the Requisite Lenders otherwise consent in writing, each
Grantor agrees with the Collateral Agent that:

Section 4.1             Generally.  Such Grantor shall (a) except for the
security interest created by this Agreement, not create or suffer to exist any
Lien upon or with respect to any of the Collateral, except Liens permitted
under Section 6.3 of the Credit Agreement; (b) not use or permit any
Collateral to be used unlawfully or in violation of any provision of this
Agreement, any other Loan Document, any Requirement of Law, any Contractual
Obligation, any Related Document or any policy of insurance covering the
Collateral; (c) not sell, transfer or assign (by operation of law or otherwise)
any Collateral except as permitted under the Credit Agreement; (d) except for
the Loan Documents, not enter into any agreement or undertaking restricting the
right or ability of such Grantor or the Collateral Agent to sell, assign or
transfer any of the Collateral except as permitted under the Credit Agreement;
and (e) promptly notify the Collateral Agent of its entry into any agreement or
assumption of undertaking that restricts the ability to sell, assign or
transfer any of the Collateral, other than such agreements or assumptions of
undertaking entered into in the ordinary course of business and consistent with
past practices.

Section 4.2             Maintenance of Perfected
Security Interest; Further Documentation.

(a)        Such Grantor
will maintain the security interest created by this Agreement as a perfected
security interest having at least the priority described in Section 3.2
and shall defend such security interest against the claims and demands of all
Persons (other than Persons holding Liens expressly permitted by Section 6.3
of the Credit Agreement).

(b)        Such Grantor
will furnish to the Collateral Agent from time to time statements and schedules
further identifying and describing the Collateral and such other reports in
connection with the Collateral as the Collateral Agent may reasonably request,
all in reasonable detail.  At any time
and from time to time, upon the written request of the Collateral Agent, and at
the sole expense of such Grantor, such Grantor will promptly and duly execute
and deliver, and have recorded, such further instruments and documents and take
such further action as the Collateral Agent may reasonably request for the
purpose of obtaining or preserving the full benefits of this Agreement and of
the rights and powers herein granted, including the filing of any financing or
continuation statement under the UCC (or other similar laws) in effect in any
jurisdiction with respect to the security interest created hereby and the
execution and delivery of Securities Account Control Agreements and Deposit
Account Control Agreements or otherwise taking any actions necessary to enable
the Collateral Agent to obtain Control with respect to any Collateral.

 15
 

                Section 4.3             Changes in Locations, Name, etc.

(a)        Except upon
15 days’ prior written notice to the Collateral Agent and delivery to the
Collateral Agent of (i) all additional executed financing statements and other
documents reasonably requested by the Collateral Agent to maintain the
validity, perfection and priority of the security interests provided for herein
and (ii) if applicable, a written supplement to Schedule 4 showing any
additional location (or change in location) at which Inventory or Equipment
shall be kept, such Grantor will not:

(i)    permit
any of the Inventory or Equipment having a Fair Market Value of more than
$5,000,000 to be kept at a location other than those listed on Schedule 4;

(ii)   change
its jurisdiction of incorporation or the location of its chief executive office
or sole place of business from that referred to in Section 3.3; or

(iii)  change
its name, identity or corporate structure to such an extent that any financing
statement filed in connection with this Agreement would become misleading.

(b)        Such Grantor
will keep and maintain at its own cost and expense satisfactory and complete
records of the Collateral, including a record of all payments received and all
credits granted with respect to the Collateral and all other dealings with the
Collateral.  If requested by the
Collateral Agent at any time after the occurrence and during the continuance of
an Event of Default, the security interest of the Collateral Agent shall be
noted on the certificate of title of each Vehicle.

                Section 4.4             Pledged Collateral.

(a)        Such Grantor
will (i) deliver to the Collateral Agent, all certificates or Instruments
representing or evidencing any Pledged Collateral (including Additional Pledged
Collateral), whether now existing or hereafter acquired, in suitable form for
transfer by delivery or, as applicable, accompanied by such Grantor’s
endorsement, where necessary, or duly executed instruments of transfer or
assignment in blank, all in form and substance satisfactory to the Collateral
Agent, together, in respect of any Additional Pledged Collateral, with a Pledge
Amendment, duly executed by the Grantor, in substantially the form of Annex
3 (a “Pledge Amendment”) or such
other documentation acceptable to the Collateral Agent, and (ii) from and after
the Trigger Date, maintain all other Pledged Collateral constituting Investment
Property in a Control Account.  Such
Grantor authorizes the Collateral Agent to attach each Pledge Amendment to this
Agreement.  The Collateral Agent shall
have the right, at any time in its 

 16
 

discretion
and without notice to the Grantor, to transfer to or to register in its name or
in the name of its nominees any or all of the Pledged Collateral.  The Collateral Agent shall have the right at
any time after the occurrence and during the continuance of an Event of Default
to exchange any certificate or instrument representing or evidencing any
Pledged Collateral for certificates or instruments of smaller or larger
denominations.

(b)        Except as
provided in Article V, such Grantor shall be entitled to receive all
cash dividends paid in respect of the Pledged Equity Collateral (other than
liquidating or distributing dividends). 
Any other sums paid upon or in respect of any Pledged Collateral,
including any sums paid upon the liquidation or dissolution of any issuer of
any of the Pledged Collateral, any distribution of capital made on or in
respect of any of the Pledged Equity Collateral or any property distributed
upon or with respect to any of the Pledged Equity Collateral pursuant to the recapitalization
or reclassification of the capital of any issuer of Pledged Collateral or
pursuant to the reorganization thereof shall, unless otherwise subject to a
perfected security interest in favor of the Collateral Agent, be delivered to
the Collateral Agent to be held by it hereunder as additional collateral
security for the Secured Obligations.  If
any sum of money or property so paid or distributed in respect of any of the
Pledged Collateral shall be received by such Grantor, such Grantor shall, until
such money or property is paid or delivered to the Collateral Agent, hold such
money or property in trust for the Collateral Agent, segregated from other
funds of such Grantor, as additional security for the Secured Obligations.

(c)        Except as
provided in Article V, such Grantor will be entitled to exercise all
voting, consent, corporate partnership or limited liability company rights with
respect to the Pledged Equity Collateral. 
Notwithstanding the foregoing, such Grantor shall not, without the prior
written consent of the Collateral Agent, (a) cast any vote, give any consent,
exercise any right or take any other action which would impair the Collateral
or which would be inconsistent with or result in any violation of any provision
of the Credit Agreement, this Agreement, any other Loan Document or any
Contractual Obligation or (b) (i) enable or permit any issuer of Pledged Equity
Collateral to issue any stock or other equity securities of any nature or to
issue any other securities convertible into or granting the right to purchase
or exchange for any stock or other equity securities of any nature of any
issuer of Pledged Equity Collateral, (ii) sell, assign, transfer, exchange or
otherwise dispose of, or grant any option with respect to the Pledged Equity
Collateral or the Proceeds therefrom (except pursuant to a transaction
expressly permitted by the Credit Agreement), (iii) create, incur or permit to
exist any Lien or option in favor of, or any claim of any Person with respect
to, any Pledged Equity Collateral or Proceeds thereof, or any interest therein,
except for the security interest created by this Agreement, or (iv) enter into
any agreement or undertaking restricting the right or ability of the Collateral
Agent or (except for the Senior Subordinated Notes Indenture and the Senior
Subordinated Discount Notes Indenture) such Grantor to sell, assign or transfer
any of the Pledged Equity Collateral or the Proceeds thereof.

(d)        Such Grantor
shall not grant to any Person other than the Collateral Agent, and shall not
permit any Person other than the Collateral Agent to have, Control over any

 17
 

Deposit
Account or Investment Property, except to the extent permitted under Section
6.3(j) of the Credit Agreement.

(e)        In the case
of each Grantor which is an issuer of Pledged Collateral, such Grantor agrees
to be bound by the terms of this Agreement relating to the Pledged Collateral
issued by it and will comply with such terms insofar as such terms are
applicable to it.  In the case of each
Grantor which is a partner in a Partnership, such Grantor hereby consents to
the extent required by the applicable Partnership Agreement to the pledge by
each other Grantor, pursuant to the terms hereof, of the Pledged Partnership
Interests in such Partnership and to the transfer of such Pledged Partnership
Interests to the Collateral Agent or its nominee and to the substitution of the
Collateral Agent or its nominee as a substituted partner in such Partnership
with all the rights, powers and duties of a general partner or a limited
partner, as the case may be.  In the case
of each Grantor which is a member of an LLC, such Grantor hereby consents to
the extent required by the applicable LLC Agreement to the pledge by each other
Grantor, pursuant to the terms hereof, of the Pledged LLC Interests in such LLC
and to the transfer of such Pledged LLC Interests to the Collateral Agent or
its nominee and to the substitution of the Collateral Agent or its nominee as a
substituted member of the LLC with all the rights, powers and duties of a
member of the LLC in question.

(f)         Such Grantor
will not agree to any amendment of an LLC Agreement or Partnership Agreement
that in any way adversely affects the perfection of the security interest of
the Collateral Agent in the Pledged Equity Collateral pledged by such Grantor
hereunder, including any amendment electing to treat the membership interest or
partnership interest of such Grantor as a security under Section 8-103
of the UCC.

Section 4.5             Control Accounts; Eligible
Deposit Accounts.  At all times after
the date (the “Trigger Date”) that is the
earlier of (i) the date 10 Business Days after the written request of the
Collateral Agent, or (ii) if on the date of such request an Event of Default
has occurred and is continuing, the date of such request:

(a)        Such Grantor
will (i) deposit in an Eligible Deposit Account all cash and all Proceeds
received by such Grantor, (ii) not establish or maintain any Securities Account
or Commodity Account that is not a Control Account and (iii) not establish or maintain
any account with any financial or other institution other than a Deposit
Account Bank, a Lender or an Affiliate of a Lender; provided, however,
that any Grantor may maintain payroll, withholding tax and other fiduciary
accounts.

(b)        Such Grantor
shall instruct each Account Debtor or other Person obligated to make a payment
to such Grantor to make payment, or to continue to make payment, as the case
may be, to an Eligible Deposit Account and will deposit in an Eligible Deposit
Account all Proceeds received by such Grantor from any other Person immediately
upon receipt.

 18
 

(c)        In the event
(i) such Grantor or any Eligible Securities Intermediary, Commodity
Intermediary or Deposit Account Bank shall, after the date hereof, terminate an
agreement with respect to the maintenance of a Control Account or an Eligible
Deposit Account for any reason, (ii) the Collateral Agent shall demand such
termination as a result of the failure of an Eligible Securities Intermediary,
Commodity Intermediary or Deposit Account Bank to comply with the terms of the
applicable Securities Account Control Agreement , Commodity Account Control
Agreement or Deposit Account Control Agreement, or (iii) the Collateral Agent
determines in its sole discretion that the financial condition of an Eligible
Securities Intermediary or Deposit Account Bank, as the case may be, has
materially deteriorated, such Grantor agrees to notify all of its obligors that
were making payments to such terminated Control Account or Eligible Deposit
Account, as the case may be, to make all future payments to another Control
Account or Eligible Deposit Account, as the case may be.

                Section 4.6             Accounts.

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

(b)        The
Collateral Agent shall have the right to make test verifications of the
Accounts in any manner and through any medium that it reasonably considers
advisable, and such Grantor shall furnish all such assistance and information
as the Collateral Agent may reasonably require in connection therewith.  At any time and from time to time, upon the Collateral
Agent’s request and at the expense of the relevant Grantor, such Grantor shall
cause independent public accountants or others satisfactory to the Collateral
Agent to furnish to the Collateral Agent reports showing reconciliations, aging
and test verifications of, and trial balances for, the Accounts; provided,
however, that unless an Event of Default shall be continuing, the
Collateral Agent shall request no more than four such reports during any
calendar year.

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

                Section 4.7             Delivery of Instruments and
Chattel Paper.  If any amount payable
under or in connection with any of the Collateral owned by such Grantor shall
be or become evidenced by an Instrument or Chattel Paper (other than any
Instrument or Chattel Paper which, together with any other Instruments or
Chattel Paper excluded pursuant to this clause, has an aggregate principal
amount not in excess of $100,000), such Grantor shall promptly deliver such
Instrument or Chattel Paper to the Collateral Agent, duly indorsed in a manner
satisfactory to the Collateral Agent, or, if consented to by the Collateral
Agent, shall mark all such Instruments and 

 19
 

Chattel Paper with the following legend:  “This writing and the obligations evidenced
or secured hereby are subject to the security interest of Credit Suisse, as
Collateral Agent for the Secured Parties”.

                Section 4.8             Intellectual Property.

(a)        Such Grantor
(either itself or through licensees) will (i) continue to use each Trademark
that is Material Intellectual Property in order to maintain such Trademark in
full force and effect with respect to each class of goods for which such
Trademark is currently used, free from any claim of abandonment for non-use,
(ii) maintain the quality of products and services offered under such Trademark
as of the date hereof, (iii) use such Trademark with the appropriate notice of
registration and all other notices and legends required by applicable
Requirements of Law, (iv) not adopt or use any mark which is confusingly
similar or a colorable imitation of such Trademark unless the Collateral Agent
shall obtain a perfected security interest in such mark pursuant to this
Agreement and (v) not (and not permit any licensee or sublicensee thereof to)
do any act or knowingly omit to do any act whereby such Trademark may become
invalidated or impaired in any way or destroy or otherwise tarnish the goodwill
associated with any Trademark.

(b)        Such Grantor
(either itself or through licensees) will not do any act, or omit to do any
act, whereby any Patent which is Material Intellectual Property may become
forfeited, abandoned or dedicated to the public.

(c)        Such Grantor
(either itself or through licensees) (i) will not (and will not permit any
licensee or sublicensee thereof to) do any act or omit to do any act whereby
any portion of the Copyrights which is Material Intellectual Property may
become invalidated or otherwise impaired and (ii) will not (either itself or
through licensees) do any act or omit to do any act whereby any portion of the
Copyrights that are Material Intellectual Property may fall into the public
domain.

(d)        Such Grantor
(either itself or through licensees) will not do any act, or omit to do any
act, whereby any trade secret which is Material Intellectual Property may
become publicly available or otherwise unprotectable.

(e)        Such Grantor
(either itself or through licensees) will not do any act that knowingly
infringes the intellectual property rights of any other Person.

(f)         Such Grantor
will notify the Collateral Agent immediately if it knows, or has reason to
know, that any application or registration relating to any Material
Intellectual Property may become forfeited, abandoned or dedicated to the
public, or of any adverse determination or development (including the
institution of, or any such determination or 

 20
 

development
in, any proceeding in the United States Patent and Trademark Office, the United
States Copyright Office or any court or tribunal in any country) regarding such
Grantor’s ownership of, right to use, interest in, or the validity of, any
Material Intellectual Property or such Grantor’s right to register the same or
to own and maintain the same.

(g)        Whenever such
Grantor, either by itself or through any agent, licensee or designee, shall
file an application for the registration of any Intellectual Property with the
United States Patent and Trademark Office, the United States Copyright Office
or any similar office or agency within or outside the United States, such
Grantor shall report such filing to the Collateral Agent within five Business
Days after the last day of the fiscal quarter in which such filing occurs.  Upon the request of the Collateral Agent,
such Grantor shall execute and deliver, and have recorded, any and all
agreements, instruments, documents, and papers as the Collateral Agent may
request to evidence the Collateral Agent’s security interest in any Copyright,
Patent or Trademark and the goodwill and general intangibles of such Grantor
relating thereto or represented thereby.

(h)        Such Grantor
will take all reasonable actions necessary or requested by the Collateral
Agent, including in any proceeding before the United States Patent and
Trademark Office, the United States Copyright Office or any similar office or
agency, to maintain and pursue each application (and to obtain the relevant
registration) and to maintain each registration of any Copyright, Trademark or
Patent that is Material Intellectual Property, including filing of applications
for renewal, affidavits of use, affidavits of incontestability and opposition
and interference and cancellation proceedings.

(i)         In the event
that any Material Intellectual Property is infringed upon or misappropriated or
diluted by a third party, such Grantor shall notify the Collateral Agent
promptly after such Grantor learns thereof. 
Such Grantor shall take appropriate action in response to such
infringement, misappropriation or dilution, as determined in the exercise of
reasonable business judgment, including promptly bringing suit for
infringement, misappropriation or dilution and to recover any and all damages
for such infringement, misappropriation or dilution, and shall take such other
actions as may be appropriate in its reasonable judgment under the
circumstances to protect such Material Intellectual Property.

(j)         Unless
otherwise agreed to by the Collateral Agent, such Grantor will execute and
deliver to the Collateral Agent on the Amendment Closing Date for filing in (i)
the United States Copyright Office a short-form copyright security agreement in
the form attached hereto as Annex 5, (ii) the United States Patent and
Trademark Office a short-form patent security agreement in the form attached
hereto as Annex 6 and (iii) the United States Patent and Trademark
Office a short-form trademark security agreement in form attached hereto as Annex
7.

Section 4.9             Vehicles.  Upon the request of the Collateral Agent,
within 30 days after the date of such request and, with respect to any Vehicles
acquired by such Grantor subsequent to the date of any such request, within 30
days after the date of acquisition thereof,

 21
 

such Grantor shall file all applications for
certificates of title/ownership indicating the Collateral Agent’s first
priority security interest in the Vehicle covered by such certificate, and any
other necessary documentation, in each office in each jurisdiction which the
Collateral Agent shall reasonably deem advisable to perfect its security
interests in the Vehicles.

Section 4.10           Payment of Obligations.  Such Grantor will pay and discharge or
otherwise satisfy at or before maturity or before they become delinquent, as
the case may be, all lawful governmental claims, taxes, assessments, charges
and levies, imposed upon the Collateral or in respect of income and profits
therefrom, as well as all claims of any kind (including claims for labor,
materials and supplies) against or with respect to the Collateral, except where
contested in good faith, by proper proceedings and adequate reserves therefor
have been established on the books of such Grantor in conformity with GAAP and
except to the extent the failure to do so would not, in the aggregate, be
reasonably expected to have a Material Adverse Effect.

Section 4.11           Commercial Tort Claims.  If such Grantor shall at any time hold or
acquire a Commercial Tort Claim other than or in addition to those set forth on
Schedule 7 relating to any of the Collateral and having a value
individually or in the aggregate in excess of $5,000,000 (each such Commercial
Tort Claim, an “Additional Commercial Tort Claim”),
such Grantor shall promptly notify the Collateral Agent in a writing
authenticated by such Grantor of the brief details of such Additional
Commercial Tort Claim.  Such Grantor
shall grant to the Collateral Agent in such writing a security interest in such
Additional Commercial Tort Claim and in the Proceeds thereof, all in accordance
with and subject to the terms of this Agreement and such writing shall be in
form and substance reasonably satisfactory to the Collateral Agent.  Each Grantor hereby agrees to execute and
deliver any additional documents or instruments, including any financing
statements or amendments to any then existing financing statements, that the
Collateral Agent reasonably deems necessary to create, perfect and protect the
Collateral Agent’s Lien on and security interest in such Additional Commercial
Tort Claim.

Section 4.12           Letter of Credit Rights.  If any Grantor is at any time a beneficiary
of a letter of credit that has a face amount individually or in the aggregate
in excess of $250,000 now or hereafter issued in favor of such Grantor, such
Grantor shall promptly notify the Collateral Agent in a writing authenticated
by such Grantor.  Such Grantor shall,
pursuant to an agreement in form and substance reasonably satisfactory to the
Collateral Agent, either (i) arrange for the issuer and any confirmer of such
letter of credit to consent to an assignment to the Collateral Agent of the
proceeds of any drawing under the letter of credit or (ii) arrange for the
Collateral Agent to become the transferee beneficiary of the letter of credit,
with the Collateral Agent agreeing, in each case, that the proceeds of any
drawing under the letter of credit are to be paid to the applicable Grantor
unless an Event of Default has occurred or is continuing.

Section 4.13           Limitations on Dispositions of
Collateral.  Such Grantor shall not
sell, transfer, lease or otherwise dispose of the Collateral, or attempt, offer
or contract to do so except as expressly permitted pursuant to the Credit
Agreement.

                Section 4.14           [Acknowledgment and Consent  Subject to Section 6.16 of the Credit
Agreement, such Grantors shall cause Merisant Spain to execute and
acknowledgement and consent in the form of Annex 8 attached hereto.]

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ARTICLE V

REMEDIAL PROVISIONS

                                 Section 5.1           Code and Other Remedies.  Upon the occurrence and during the
continuance of an Event of Default, the Collateral Agent, on behalf of the
Secured Parties, may exercise, in addition to all other rights and remedies granted
to it in this Agreement and in any other instrument or agreement securing,
evidencing or relating to the Secured Obligations, all rights and remedies of a
secured party under the UCC or any other applicable law.  Without limiting the generality of the
foregoing, upon the occurrence and during the continuance of an Event of
Default, the Collateral Agent, on behalf of the Secured Parties, without demand
of performance or other demand, presentment, protest, advertisement or notice
of any kind (except any notice required by law referred to below) to or upon
any Grantor or any other Person (all and each of which demands, defenses,
advertisements and notices are hereby waived), may in such circumstances
forthwith collect, receive, appropriate and realize upon the Collateral, or any
part thereof, and/or may forthwith sell, lease, assign, give option or options
to purchase, or otherwise dispose of and deliver the Collateral or any part
thereof (or contract to do any of the foregoing), in one or more parcels at
public or private sale or sales, at any exchange, broker’s board or office of
the Collateral Agent or any Secured Party or elsewhere upon such terms and
conditions as it may deem advisable and at such prices as it may deem best, for
cash or on credit or for future delivery without assumption of any credit
risk.  The Collateral Agent and any other
Secured Party shall have the right upon any such public sale or sales, and, to
the extent permitted by law, upon any such private sale or sales, to purchase
the whole or any part of the Collateral so sold, free of any right or equity of
redemption in any Grantor, which right or equity is hereby waived and
released.  Each Grantor further agrees,
at the Collateral Agent’s request, to assemble the Collateral and make it
available to the Collateral Agent at places which the Collateral Agent shall
reasonably select, whether at such Grantor’s premises or elsewhere.  The Collateral Agent shall apply the net
proceeds of any action taken by it pursuant to this Section 5.1, after
deducting all reasonable costs and expenses of every kind incurred in
connection therewith or incidental to the care or safekeeping of any of the
Collateral or in any way relating to the Collateral or the rights of the
Collateral Agent and any other Secured Party hereunder, including reasonable
attorneys’ fees and disbursements, to the payment in whole or in part of the
Secured Obligations, in such order as the Credit Agreement shall prescribe, and
only after such application and after the payment by the Collateral Agent of
any other amount required by any provision of law, including Section 9-610 of
the UCC, need the Collateral Agent account for the surplus, if any, to any
Grantor.  To the extent permitted by applicable
law, each Grantor waives all claims, damages and demands it may acquire against
the Collateral Agent or any other Secured Party arising out of the exercise by
them of any rights hereunder.  If any
notice of a proposed sale or other disposition of Collateral shall be required
by law, each Grantor hereby acknowledges and agrees that such notice shall be
deemed reasonable and proper if given at least 10 days before such sale or
other disposition.

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                                 Section 5.2           Accounts and Payments in Respect
of General Intangibles.

(a)        If required
by the Collateral Agent at any time upon the occurrence and during the
continuance of an Event of Default, any payments of Accounts or payments in
respect of General Intangibles, when collected by any Grantor, shall be
forthwith (and, in any event, within two Business Days) deposited by such
Grantor in the exact form received, duly indorsed by such Grantor to the
Collateral Agent if required, in a Cash Collateral Account maintained under the
sole dominion and control of the Collateral Agent, subject to withdrawal by the
Collateral Agent as provided in Section 5.4.  Until so turned over, such payments shall be
held by such Grantor in trust for the Collateral Agent, segregated from other
funds of such Grantor.  Each such deposit
of Proceeds of Accounts and payments in respect of General Intangibles shall be
accompanied by a report identifying in reasonable detail the nature and source
of the payments included in the deposit.

(b)        At the
Collateral Agent’s request, upon the occurrence and during the continuance of
an Event of Default, each Grantor shall deliver to the Collateral Agent all
original and other documents evidencing, and relating to, the agreements and
transactions which gave rise to the Accounts or payments in respect of General
Intangibles, including all original orders, invoices and shipping receipts.

(c)        The
Collateral Agent may, without notice, at any time upon the occurrence and
during the continuance of an Event of Default, limit or terminate the authority
of a Grantor to collect its Accounts or amounts due under General Intangibles
or any thereof.

(d)        The
Collateral Agent in its own name or in the name of others may at any time upon
the occurrence and during the continuance of an Event of Default communicate
with Account Debtors to verify with them to the Collateral Agent’s satisfaction
the existence, amount and terms of any Accounts or amounts due under any
General Intangibles.

(e)        Upon the
request of the Collateral Agent at any time upon the occurrence and during the
continuance of an Event of Default, each Grantor shall notify Account Debtors
that the Accounts or payments in respect of General Intangibles have been
collaterally assigned to the Collateral Agent and that payments in respect
thereof shall be made directly to the Collateral Agent.  In addition, the Collateral Agent may at any
time upon the occurrence and during the continuance of an Event of Default so
enforce such Grantor’s rights against Account Debtors and obligors of General
Intangibles.

(f)         Anything
herein to the contrary notwithstanding, each Grantor shall remain liable under
each of the Accounts and payments in respect of General Intangibles to observe
and perform all the conditions and obligations to be observed and performed by
it thereunder, all in accordance with the terms of any agreement giving rise
thereto.  Neither the Collateral Agent
nor any other Secured Party shall have any obligation or liability under any

 24
 

agreement
giving rise to an Account or a payment in respect of a General Intangible by
reason of or arising out of this Agreement or the receipt by Collateral Agent
nor any other Secured Party of any payment relating thereto, nor shall
Collateral Agent nor any other Secured Party be obligated in any manner to
perform any of the obligations of any Grantor under or pursuant to any
agreement giving rise to an Account or a payment in respect of a General
Intangible, to make any payment, to make any inquiry as to the nature or the
sufficiency of any payment received by it or as to the sufficiency of any
performance by any party thereunder, to present or file any claim, to take any
action to enforce any performance or to collect the payment of any amounts
which may have been assigned to it or to which it may be entitled at any time
or times.

                                 Section 5.3           Pledged Collateral.

(a)        Upon the
occurrence and during the continuance of an Event of Default, upon notice by
the Collateral Agent to the relevant Grantor or Grantors, (i) the Collateral
Agent shall have the right to receive any and all cash dividends, payments or
other Proceeds paid in respect of the Pledged Collateral and make application
thereof to the Obligations in the order set forth in the Credit Agreement, and
(ii) the Collateral Agent or its nominee may exercise (A) all voting, consent,
corporate, partnership or limited liability company and other rights pertaining
to the Pledged Collateral at any meeting of shareholders, partners or members,
as the case may be, of the relevant issuer or issuers of Pledged Collateral or
otherwise and (B) any and all rights of conversion, exchange and subscription
and any other rights, privileges or options pertaining to the Pledged
Collateral as if it were the absolute owner thereof (including the right to
exchange at its discretion any and all of the Pledged Collateral upon the
merger, consolidation, reorganization, recapitalization or other fundamental
change in the corporate structure of any issuer of Pledged Securities, the
right to deposit and deliver any and all of the Pledged Collateral with any
committee, depositary, transfer agent, registrar or other designated agency
upon such terms and conditions as the Collateral Agent may determine), all
without liability except to account for property actually received by it; provided,
however, that the Collateral Agent shall have no duty to any Grantor to
exercise any such right, privilege or option and shall not be responsible for
any failure to do so or delay in so doing.

(b)        In order to
permit the Collateral Agent to exercise the voting and other consensual rights
which it may be entitled to exercise pursuant hereto and to receive all
dividends and other distributions which it may be entitled to receive
hereunder, (i) each Grantor shall promptly execute and deliver (or cause to be
executed and delivered) to the Collateral Agent all such proxies, dividend
payment orders and other instruments as the Collateral Agent may from time to
time reasonably request and (ii) without limiting the effect of clause (i)
above, such Grantor hereby grants to the Collateral Agent an irrevocable proxy
to vote all or any part of the Pledged Collateral and to exercise all other
rights, powers, privileges and remedies to which a holder of the Pledged
Collateral would be entitled (including giving or withholding written consents
of shareholders, partners or members, as the case may be, calling special
meetings of shareholders, partners or members, as the case may be, and voting
at such meetings), which proxy shall be effective, automatically and without
the necessity of any action (including any transfer of any Pledged Collateral
on the record books of the issuer thereof) by any other person

 25
 

(including
the issuer of such Pledged Collateral or any officer or agent thereof) upon the
occurrence and during the continuance of an Event of Default and which proxy
shall only terminate upon the payment in full of the Secured Obligations.

(c)        Each Grantor
hereby expressly authorizes and instructs each issuer of any Pledged Collateral
pledged hereunder by such Grantor to (i) comply with any instruction received
by it from the Collateral Agent in writing that (A) states that an Event of
Default has occurred and is continuing and (B) is otherwise in accordance with
the terms of this Agreement, without any other or further instructions from
such Grantor, and each Grantor agrees that such issuer shall be fully protected
in so complying and (ii) unless otherwise expressly permitted hereby, pay any
dividends or other payments with respect to the Pledged Collateral directly to
the Collateral Agent for deposit in a Cash Collateral Account or, with the
consent of the Collateral Agent, an Eligible Deposit Account.

                                 Section 5.4           Proceeds to be Turned Over to Collateral Agent.  All Proceeds received by the Collateral Agent
hereunder shall be held by the Collateral Agent in a Cash Collateral Account
maintained under its sole dominion and control. 
All Proceeds while held by the Collateral Agent in a Cash Collateral
Account (or by such Grantor in trust for the Collateral Agent) shall continue
to be held as collateral security for the Secured Obligations and shall not
constitute payment thereof until applied as provided in the Credit Agreement.

                                 Section 5.5           Registration Rights.

(a)        If the
Collateral Agent shall determine to exercise its right to sell any or all of
the Pledged Equity Collateral pursuant to Section 5.1, and if in the
opinion of the Collateral Agent it is necessary or advisable to have the
Pledged Equity Collateral, or any portion thereof to be registered under the
provisions of the Securities Act, the relevant Grantor will cause the issuer
thereof to (i) execute and deliver, and cause the directors and officers of
such issuer to execute and deliver, all such instruments and documents, and do
or cause to be done all such other acts as may be, in the opinion of the
Collateral Agent, necessary or advisable to register the Pledged Equity
Collateral, or that portion thereof to be sold, under the provisions of the
Securities Act, (ii) use its best efforts to cause the registration statement
relating thereto to become effective and to remain effective for a period of
one year from the date of the first public offering of the Pledged Equity
Collateral, or that portion thereof to be sold and (iii) make all amendments
thereto and/or to the related prospectus which, in the opinion of the
Collateral Agent, are necessary or advisable, all in conformity with the
requirements of the Securities Act and the rules and regulations of the SEC
applicable thereto.  Each Grantor agrees
to cause such issuer to comply with the provisions of the securities or “Blue
Sky” laws or other comparable law of any jurisdiction which the Collateral
Agent shall designate and to make available to its security holders, as soon as
practicable, an earnings statement (which need not be audited) which will
satisfy the provisions of Section 11(a) of the Securities Act.

(b)        Each Grantor
recognizes that the Collateral Agent may be unable to effect a public sale of
any or all the Pledged Equity Collateral by reason of certain prohibitions

 26
 

contained
in the Securities Act and applicable state securities laws or otherwise or may
determine that a public sale is impracticable or not commercially reasonable
and, accordingly, may resort to one or more private sales thereof to a
restricted group of purchasers which will be obliged to agree, among other
things, to acquire such securities for their own account for investment and not
with a view to the distribution or resale thereof.  Each Grantor acknowledges and agrees that any
such private sale may result in prices and other terms less favorable than if
such sale were a public sale and, notwithstanding such circumstances, agrees
that any such private sale shall be deemed to have been made in a commercially
reasonable manner.  The Collateral Agent
shall be under no obligation to delay a sale of any of the Pledged Equity
Collateral for the period of time necessary to permit the issuer thereof to
register such securities for public sale under the Securities Act, or under
applicable state securities laws, even if such issuer would agree to do so.

(c)        Each Grantor
agrees to use its best efforts to do or cause to be done all such other acts as
may be necessary to make such sale or sales of all or any portion of the
Pledged Collateral pursuant to this Section 5.5 valid and binding and in
compliance with any and all other applicable Requirements of Law.  Each Grantor further agrees that a breach of
any of the covenants contained in this Section 5.5 will cause
irreparable injury to the Collateral Agent and other Secured Parties, that the
Collateral Agent and the other Secured Parties have no adequate remedy at law
in respect of such breach and, as a consequence, that each and every covenant
contained in this Section 5.5 shall be specifically enforceable against
such Grantor, and such Grantor hereby waives and agrees not to assert any
defenses against an action for specific performance of such covenants except
for a defense that no Event of Default has occurred under the Credit Agreement.

                               Section 5.6              Deficiency. 
Each Grantor shall remain liable for any deficiency if the proceeds of
any sale or other disposition of the Collateral are insufficient to pay its
Secured Obligations and the fees and disbursements of any attorneys employed by
the Collateral Agent or any other Secured Party to collect such deficiency.

                               Section 5.7              Grant of Intellectual Property License.  If an Event of Default shall occur and be
continuing, and for so long as such Event of Default is continuing, each
Grantor hereby grants to Collateral Agent an irrevocable, non-exclusive, fully
paid-up, worldwide license or (for third party rights) sublicense, to use,
license or sublicense any of the Intellectual Property now or hereafter owned,
licensed in (to the fullest extent permitted by such license), held for use or
acquired by such Grantor (and subject to the applicable terms and conditions
governing such Grantor’s rights in and to such Intellectual Property at the
time of the Event of Default), for the purpose of enabling the Collateral Agent
to exercise rights and remedies under Article V hereof at such time as
it shall be lawfully entitled to exercise such rights and remedies, and for no
other purpose; subject to (i) the maintenance of quality control standards with
respect to all goods and services sold under any licensed Trademarks
substantially consistent with those in effect immediately prior to the Event of
Default in order to maintain the validity and enforceability of such Trademarks
and (ii) exclusive licenses granted by such Grantor prior to the Event of
Default to the extent such licenses conflict at the time of the Event of
Default with the granting of other licenses in and to the same Intellectual
Property.  Such license or sublicense to
the

 27
 

Collateral Agent shall include access to all media in
which any of the applicable Intellectual Property may be recorded, processed or
stored and all computer programs related thereto.

ARTICLE VI

THE COLLATERAL AGENT

                               Section 6.1              Collateral Agent’s Appointment as Attorney-In-Fact.

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

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

(ii)   in
the case of any Intellectual Property, execute and deliver, and have recorded,
any and all agreements, instruments, documents and papers as the Collateral
Agent may request to evidence the Collateral Agent’s security interest in such
Intellectual Property and the goodwill and General Intangibles of such Grantor
relating thereto or represented thereby;

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

 28
 

(iv)  execute,
in connection with any sale provided for in Section 5.1 or Section
5.5, any endorsements, assignments or other instruments of conveyance or
transfer with respect to the Collateral; and

(v)   (A)
direct any party liable for any payment under any of the Collateral to make
payment of any and all moneys due or to become due thereunder directly to the
Collateral Agent or as the Collateral Agent shall direct; (B) ask or demand
for, collect, and receive payment of and receipt for, any and all moneys,
claims and other amounts due or to become due at any time in respect of or
arising out of any Collateral; (C) sign and indorse any invoices, freight or
express bills, bills of lading, storage or warehouse receipts, drafts against
debtors, assignments, verifications, notices and other documents in connection
with any of the Collateral; (D) commence and prosecute any suits, actions or
proceedings at law or in equity in any court of competent jurisdiction to
collect the Collateral or any portion thereof and to enforce any other right in
respect of any Collateral; (E) defend any suit, action or proceeding brought
against such Grantor with respect to any Collateral; (F) settle, compromise or
adjust any such suit, action or proceeding and, in connection therewith, give
such discharges or releases as the Collateral Agent may deem appropriate; (G)
assign any Copyright, Patent or Trademark (along with the goodwill of the
business to which any such Trademark pertains), throughout the world for such
term or terms, on such conditions, and in such manner, as the Collateral Agent
shall in its sole discretion determine, including without limitation the
execution and filing of any documents necessary to effectuate and/or record
such assignment; and (H) generally, sell, transfer, pledge and make any
agreement with respect to or otherwise deal with any of the Collateral as fully
and completely as though the Collateral Agent were the absolute owner thereof
for all purposes, and do, at the Collateral Agent’s option and such Grantor’s
expense, at any time, or from time to time, all acts and things which the
Collateral Agent deems necessary or advisable to protect, preserve or realize
upon the Collateral and the Collateral Agent’s and the other Secured Parties’
security interests therein and to effect the intent of this Agreement, all as
fully and effectively as such Grantor might do.

(vi)  Anything
in this Section 6.1(a) to the contrary notwithstanding, the Collateral
Agent agrees that it will not exercise any rights under the power of attorney
provided for in this Section 6.1(a) unless an Event of Default shall be
continuing.

(b)        If any
Grantor fails to perform or comply with any of its agreements contained herein,
the Collateral Agent, at its option, but without any obligation so to do, upon
the occurrence and during the continuance of an Event of Default may perform or
comply, or otherwise cause performance or compliance, with such agreement and
shall notify such Grantor of any such performance or compliance.

 

 29

(c)        The expenses
of the Collateral Agent incurred in connection with actions undertaken as
provided in this Section 6.1, together with interest thereon at a rate
per annum equal to the rate per annum at which interest would then be payable
on past due Revolving Loans that are Base Rate Loans under the Credit
Agreement, from the date of payment by the Collateral Agent to the date
reimbursed by the relevant Grantor, shall be payable by such Grantor to the
Collateral Agent on demand.

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

Section 6.2             Duty of Collateral Agent.  The Collateral Agent’s sole duty with respect
to the custody, safekeeping and physical preservation of the Collateral in its
possession shall be to deal with it in the same manner as the Collateral Agent
deals with similar property for its own account.  Neither the Collateral Agent, any other
Secured Party nor any of their respective officers, directors, employees or
agents shall be liable for failure to demand, collect or realize upon any of
the Collateral or for any delay in doing so or shall be under any obligation to
sell or otherwise dispose of any Collateral upon the request of any Grantor or
any other Person or to take any other action whatsoever with regard to the
Collateral or any part thereof.  The
powers conferred on the Collateral Agent hereunder are solely to protect the
Collateral Agent’s interest in the Collateral and shall not impose any duty
upon the Collateral Agent or any other Secured Party to exercise any such powers.  The Collateral Agent and the other Secured
Parties shall be accountable only for amounts that they actually receive as a
result of the exercise of such powers, and neither they nor any of their
officers, directors, employees or agents shall be responsible to any Grantor
for any act or failure to act hereunder, except for their own gross negligence
or willful misconduct.

Section 6.3             Authority to File Financing
Statements.  Each Grantor authorizes
the Collateral Agent or its representatives to file or record financing
statements (including continuation statements in respect thereof) containing a
description of the Collateral granted hereunder as “all assets” or “all
personal property, whether now existing or hereafter acquired, and other filing
or recording documents or instruments with respect to the Collateral without
the signature of such Grantor in such form and in such offices as the
Collateral Agent reasonably determines appropriate to perfect the security
interests of the Collateral Agent under this Agreement.  A photographic or other reproduction of this
Agreement shall be sufficient as a financing statement or other filing or
recording document or instrument for filing or recording in any jurisdiction.

Section 6.4             Authority of Collateral Agent.  Each Grantor acknowledges that the rights and
responsibilities of the Collateral Agent under this Agreement with respect to
any action taken by the Collateral Agent or the exercise or non-exercise by the
Collateral Agent of any option, voting right, request, judgment or other right
or remedy provided for herein or resulting or arising out of this Agreement
shall, as between the Collateral Agent and the other Secured Parties, be
governed by the Credit Agreement and by such other agreements with respect thereto
as may exist from time to time among them, but, as between the Collateral Agent

 30
 

and the Grantors, the Collateral Agent shall be
conclusively presumed to be acting as agent for the Collateral Agent and the
other Secured Parties with full and valid authority so to act or refrain from
acting, and no Grantor shall be under any obligation, or entitlement, to make
any inquiry respecting such authority.

ARTICLE VII

MISCELLANEOUS

Section 7.1             Amendments in Writing.  Other than in connection with the execution
and delivery of a Joinder Agreement in the form of Annex 4 relating to
the addition of Grantors, none of the terms or provisions of this Agreement may
be waived, amended, supplemented or otherwise modified except in accordance
with Section 9.1 of the Credit Agreement.

Section 7.2             Notices.  All notices, requests and demands to or upon
the Collateral Agent or any Grantor hereunder shall be effected in the manner
provided for in Section 9.8 of the Credit Agreement; provided, however,
that any such notice, request or demand to or upon any Grantor other than the
Borrower shall be addressed to such Grantor in care of the Borrower at the
Borrower’s notice address set forth in such Section 9.8.

Section 7.3             No Waiver by Course of Conduct;
Cumulative Remedies.  Neither the
Collateral Agent nor any other Secured Party shall by any act (except by a
written instrument pursuant to Section 7.1), delay, indulgence, omission
or otherwise be deemed to have waived any right or remedy hereunder or to have
acquiesced in any Default or Event of Default. 
No failure to exercise, nor any delay in exercising, on the part of the
Collateral Agent or any other Secured Party, any right, power or privilege
hereunder shall operate as a waiver thereof. 
No single or partial exercise of any right, power or privilege hereunder
shall preclude any other or further exercise thereof or the exercise of any
other right, power or privilege.  A
waiver by the Collateral Agent or any other Secured Party of any right or
remedy hereunder on any one occasion shall not be construed as a bar to any
right or remedy which the Collateral Agent or such other Secured Party would
otherwise have on any future occasion. 
The rights and remedies herein provided are cumulative, may be exercised
singly or concurrently and are not exclusive of any other rights or remedies
provided by law.

Section 7.4             Successors and Assigns.  This Agreement shall be binding upon the
successors and assigns of each Grantor and shall inure to the benefit of the
Collateral Agent and each other Secured Party and their successors and assigns;
provided, however, that no Grantor may assign, transfer or
delegate any of its rights or obligations under this Agreement without the
prior written consent of the Collateral Agent.

Section 7.5             Counterparts.  This Agreement may be executed by one or more
of the parties to this Agreement on any number of separate counterparts
(including by telecopy), and all of said counterparts taken together shall be
deemed to constitute one and the same agreement.  Signature pages may be detached from multiple
separate counterparts and attached to a single counterpart so that all
signature pages are attached to the same document.  Delivery of 

 31
 

an executed signature page of this Agreement by
facsimile transmission or electronic transmission (pdf) shall be as effective
as delivery of a manually executed counterpart hereof.

Section 7.6             Severability.  Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

Section 7.7             Section Headings.  The Article and Section titles contained in
this Agreement are and shall be without substantive meaning or content of any
kind whatsoever and are not part of the agreement of the parties hereto.

Section 7.8             Entire Agreement.  This Agreement together with the other Loan
Documents represents the entire agreement of the parties and supersedes all
prior agreements and understandings relating to the subject matter hereof.

Section 7.9             Governing Law.  THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HERETO, INCLUDING THE INTERPRETATION, CONSTRUCTION, VALIDITY AND
ENFORCEABILITY HEREOF, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

Section 7.10           Submission to Jurisdiction;
Service of Process.  Each Grantor
hereby irrevocably and unconditionally:

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

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

(c)        agrees that
service of process in any such action or proceeding may be effected by mailing
a copy thereof by registered or certified mail (or any substantially similar form
of mail), postage prepaid, to any Grantor at its address specified in Section
7.2 ; and

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

 32
 

Section 7.11           Waiver of Jury Trial.  EACH GRANTOR AND THE COLLATERAL AGENT
IRREVOCABLY WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING WITH RESPECT TO
THIS AGREEMENT.

Section 7.12           Additional Grantors.  If, pursuant to Section 5.10 of the Credit
Agreement, Holdings or the Borrower shall be required to cause any Subsidiary
of Holdings or the Borrower that is not a Grantor to become a Grantor
hereunder, such Subsidiary shall execute and deliver to the Collateral Agent a
Joinder Agreement in the form of Annex 4 and shall thereafter for all
purposes be a party hereto and have the same rights, benefits and obligations
as a Grantor party hereto on the Amendment Closing Date.

Section 7.13           Release of Collateral.

(a)        At the time
provided in Section 8.7(b)(i) of the Credit Agreement, the Collateral shall be
released from the Lien created hereby and this Agreement and all obligations
(other than those expressly stated to survive such termination) of the
Collateral Agent and each Grantor hereunder shall terminate, all without
delivery of any instrument or performance of any act by any party, and all
rights to the Collateral shall revert to the applicable Grantor.  At the request and sole expense of any
Grantor following any such termination, the Collateral Agent shall promptly
deliver to such Grantor any Collateral of such Grantor held by the Collateral
Agent hereunder and execute and deliver to such Grantor such documents as such
Grantor shall reasonably request to evidence such termination.

(b)        If any of the
Collateral shall be sold or disposed of by any Grantor in a transaction
permitted by the Credit Agreement or if any Collateral is otherwise permitted
to be released pursuant to Section 8.7(b) of the Credit Agreement, the
Collateral so sold or disposed of shall be released from the Lien created
hereby to the extent provided in Section 8.7(b)(ii) or (iii) of the Credit
Agreement and, in connection therewith, the Collateral Agent, at the request
and sole expense of the Borrower, shall promptly execute and deliver to the
Borrower all releases or other documents reasonably necessary or desirable for
the release of the Lien created hereby on such Collateral.  At the request and sole expense of the
Borrower, a Grantor shall be released from its obligations hereunder in the
event that all the capital stock of such Grantor shall be so sold or disposed
to a Person other than an Included Subsidiary in a transaction permitted by
Article 6 of the Credit Agreement; provided, however, that the
Borrower shall have delivered to the Collateral Agent, at least five Business
Days prior to the date of the proposed release, a written request for release
identifying the relevant Grantor and the terms of the sale or other disposition
in reasonable detail, including the price thereof and any expenses in
connection therewith, together with a certification by a Responsible Officer of
the Borrower stating that such transaction is in compliance with the Credit
Agreement and the other Loan Documents.

Section 7.14           Reinstatement.  Each Grantor further agrees that, if any
payment made by any Loan Party or other Person and applied to the Obligations
is at any time annulled, avoided, set aside, rescinded, invalidated, declared
to be fraudulent or preferential or otherwise required to be refunded or
repaid, or the proceeds of Collateral are required to be returned by any
Secured Party to such Loan Party, its estate, trustee, receiver or any other
party, including any 

 33
 

Grantor, under any bankruptcy law, state or federal
law, common law or equitable cause, then, to the extent of such payment or
repayment, any Lien or other Collateral securing such liability shall be and
remain in full force and effect, as fully as if such payment had never been
made or, if prior thereto the Lien granted hereby or other Collateral securing
such liability hereunder shall have been released or terminated by virtue of
such cancellation or surrender), such Lien or other Collateral shall be
reinstated in full force and effect, and such prior cancellation or surrender
shall not diminish, release, discharge, impair or otherwise affect any Lien or
other Collateral securing the obligations of any Grantor in respect of the
amount of such payment.

Section 7.15           Enforcement of Liens on Collateral
Located in Spain.  With respect to
the security interest granted by MFH in the participations in Merisant Spain
listed on Schedule 2 (the “Participations”) under this Agreement,
it is agreed by the Grantors and the Collateral Agent that in addition to all
other rights and remedies granted to the Collateral Agent in this Agreement,
the Collateral Agent may, upon the execution of the Deed of Pledge and the
registry of the lien on the records of Merisant Spain, enforce its Lien on the
Participations via notarial foreclosure in Spain.  Further, the Grantors agree, and MFH shall
instruct Merisant Spain, that none of the Grantors or Merisant Spain shall
object to the Collateral Agent enforcing its Lien on the Participations via
notarial foreclosure in Spain.  In the
event the Collateral Agent enforces its Lien on the Participations via notarial
foreclosure in Spain, the Collateral Agent may, but need not, present this
Agreement to a notary or other public official to the extent necessary to
enforce the Lien on the Participations.

 34

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

	
  

  	
  MERISANT COMPANY,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
  MERISANT WORLDWIDE, INC.,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
  MERISANT FOREIGN HOLDINGS I, INC.

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
  MERISANT US, INC.,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
  WHOLE EARTH SWEETENER COMPANY LLC,

  
	
   

  	
   

  	
  a Delaware limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Diana S. Ferguson

  
	
   

  	
   

  	
  Name: Diana S. Ferguson

  
	
   

  	
   

  	
  Title: Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
  ACCEPTED AND AGREED:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  CREDIT SUISSE, Cayman Islands Branch

  as Collateral Agent

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Vanessa Gomez

  	
   

  	
   

  
	
   

  	
  Name: Vanessa Gomez

  	
   

  	
   

  
	
   

  	
  Title:   Vice President

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ James Neira

  	
   

  	
   

  
	
   

  	
  Name: James Neira

  	
   

  	
   

  
	
   

  	
  Title:   Associate

  	
   

  	
   

  

 

Annex 1 to

Amended and Restated Security Agreement

[Date]

[Deposit Account Bank]

[Address]

Ladies and Gentlemen:

Reference is made to account no. [                            ]
maintained with you (the “Bank”) by [                            ]
(the “Company”) into which funds are deposited from time to time (the “Account”).  The Company has entered into an Amended and
Restated Credit Agreement, dated as of                             ,
2007 (as the same may be amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”), among Merisant Company,
Merisant Worldwide, Inc., the Lenders and Issuers party thereto, Credit Suisse,
as administrative agent for the Lenders and Issuers and as collateral agent for
the Lenders and Issuers (in such capacity, the “Collateral Agent”),
Credit Suisse Securities (USA) LLC and Jefferies Finance LLC as co-arrangers,
Credit Suisse Securities (USA) LLC, as bookrunner and Jefferies Finance LLC, as
documentation agent.

Pursuant to the Credit Agreement and related documents, the Company has
granted to the Collateral Agent, for the benefit of the Secured Parties, as
defined in the Credit Agreement, a security interest in certain property of the
Company, including, among other things, accounts, inventory, equipment,
instruments, general intangibles and all proceeds thereof (the “Collateral”).  Payments
with respect to the Collateral are or hereafter may be made to the Account.

The Company hereby transfers to the Collateral Agent exclusive control
of the Account and all funds and other property on deposit therein.  By your execution of this letter agreement,
you (i) agree that you will comply with instructions originated by the
Collateral Agent directing disposition of the funds and other property on deposit
in the Account without further consent of the Company and (ii) acknowledge that
the Collateral Agent now has exclusive control of the Account, that all funds
in the Account shall be transferred to the Collateral Agent as provided herein,
that the Account is being maintained by you for the benefit of the Collateral
Agent and that all amounts and other property therein are held by you as
custodian for the Collateral Agent.

Except as provided in paragraph (d) below, the Account shall not be
subject to deduction, set-off, banker’s lien, counterclaim, defense, recoupment
or any other right in favor of 

 1
 

any person or entity other than the Collateral
Agent.  By your execution of this letter
agreement you also acknowledge that, as of the date hereof, you have received
no notice of any other pledge or assignment of the Account and have not
executed any agreements with third parties concerning the disposition of funds
in the Account.  You agree with the
Collateral Agent as follows:

(a)           Notwithstanding anything to the
contrary or any other agreement relating to the Account, the Account is and
will be maintained for the benefit of the Collateral Agent, will be entitled “                                  [name of Company] Account” and will
be subject to written instructions only from an authorized officer of the
Collateral Agent.

(b)           Prior to the delivery to you of a
written notice from the Collateral Agent in the form of Exhibit A hereto (a “Blockage Notice”), you are authorized to transfer to the Company,
in same day funds, on each Business Day, the entire balance in the Account to
the following account:

	
  ABA Number:

  	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  Account Name:

  	
   

  
	
  Concentration
  Account

  
	
   

  
	
  Account Number:

  	
   

  
	
  Reference:

  	
   

  
	
  Attn:

  	
   

  
						

or to such other account as the Company may from time
to time designate in writing.

(c)           From and after the delivery to you of
a Blockage Notice, you will transfer (by wire transfer or other method of
transfer mutually acceptable to you and the Collateral Agent) to the Agent, in
same day funds, on each Business Day, the entire balance in the Account to the
following account (the “Collateral Agent Concentration Account”):

 2
 

 

	
  ABA Number:

  	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  Account Name:

  	
   

  
	
  Concentration Account

  
	
   

  
	
  Account Number:

  	
   

  
	
  Reference:

  	
   

  
	
  Attn:

  	
   

  
						

 

or to such other account as the Collateral Agent may
from time to time designate in writing.

(d)           All customary service charges and
fees with respect to the Account shall be debited to the Account.  In the event insufficient funds remain in the
Account to cover such customary service charges and fees, the Company shall pay
and indemnify you for the amounts of such customary service charges and fees.

This letter agreement shall be binding upon and shall inure to the
benefit of you, the Company, the Collateral Agent, the Secured Parties referred
to in the Credit Agreement and the respective successors, transferees and
assigns of any of the foregoing.  This
letter agreement may not be modified except upon the mutual consent of the
Collateral Agent, the Company and you. 
You may terminate the letter agreement only upon 30 days’ prior written
notice to the Company and the Collateral Agent. 
The Collateral Agent may terminate this letter agreement upon 10 days’
prior written notice to you and the Company. 
Upon such termination you shall close the Account and transfer all funds
in the Account to the Collateral Agent Concentration Account or as otherwise
directed by the Collateral Agent.  After
any such termination, you shall nonetheless remain obligated promptly to
transfer to the Collateral Agent Concentration Account or as the Collateral
Agent may otherwise direct all funds and other property received in respect of
the Account.

This letter agreement may be executed in any number of counterparts and
by different parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which when taken together
shall constitute one and the same agreement. Delivery of an executed
counterpart of a signature page to this letter agreement by telecopier or by
electronic transmission (PDF) shall be effective as delivery of a manually
executed counterpart of this letter agreement.

This letter agreement supersedes all prior agreements, oral or written,
with respect to the subject matter hereof and may not be amended, modified or
supplemented except by a writing signed by the Collateral Agent, the Company
and you.

 3
 

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

Upon acceptance of this letter agreement it will be the valid and
binding obligation of the Company, the Collateral Agent, and you, in accordance
with its terms.

	
   

  	
   

  	
   

  	
  Very truly yours,

  
	
   

  	
   

  	
   

  	
  [                                     ].

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  

 

 4
 

 

	
  

  	
   

  	
   

  	
  CREDIT SUISSE,
  CAYMAN ISLANDS BRANCH,

  
	
   

  	
   

  	
   

  	
  as Collateral
  Agent

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
  Acknowledged and
  agreed to as of

  	
   

  	
   

  	
   

  
	
  the date first
  above written:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  [

  	
  ]

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  

 

 5
 

EXHIBIT A

to

Deposit Account Control Agreement

Collateral Agent Blockage Notice

[Deposit Account Bank]

[Address]

Re:      Account No.                                     (the
“Account”)

Ladies and Gentlemen:

Reference is made to the Account and that certain Deposit Account
Control Agreement dated                     
        among you, Credit Suisse, as
Collateral Agent (the “Collateral Agent”),
and [                                                  ]
(the “Deposit
Account Control Agreement”).  Capitalized terms used herein shall have the
meanings given to them in the Deposit Account Control Agreement.

The Collateral Agent hereby notifies you that, from and after the date
of this notice, you are hereby directed to transfer (by wire transfer or other
method of transfer mutually acceptable to you and the Collateral Agent) to the
Agent, in same day funds, on each Business Day, the entire balance in the
Account to the Collateral Agent Concentration Account specified in paragraph
(c) of the Deposit Account Control Agreement or to such other account as the
Collateral Agent may from time to time designate in writing.

 6
 

 

	
  

  	
   

  	
   

  	
  Very truly
  yours,

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  CREDIT SUISSE,
  CAYMAN ISLANDS BRANCH,

  as Collateral Agent

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  

 

 7

Annex 2 to

Amended and Restated Security Agreement

[Name and Address of Eligible Securities Intermediary]

[Date]

Ladies and Gentlemen:

The undersigned                                   
(the “Pledgor”) together with certain of its affiliates are party
to an Amended and Restated Security Agreement dated                        ,
2007 in favor of Credit Suisse, as agent for the Secured Parties referred to
therein (the “Pledgee” and such agreement, as it may be amended,
restated, or otherwise modified from time to time, the “Amended and Restated
Security Agreement”) pursuant to
which a security interest is granted by the Pledgor in all present and future
Assets (hereinafter defined) in Account No.                                   
of the Pledgor (the “Pledge”).

In connection therewith, the Pledgor hereby instructs you (the “Eligible Securities
Intermediary”) to:

1.                                       Maintain
the Account, as “                           
           Control Account”;

2.                                       Hold
in the Account the assets, including all financial assets, securities, security
entitlements and all other property and rights now or hereafter received in
such Account (collectively the “Assets”),
including without limitation those assets listed in Exhibit A attached hereto
and made a part hereof;

3.                                       Provide
to the Pledgee, with a duplicate copy to the Pledgor, a monthly statement of
Assets and a confirmation statement of each transaction effected in the Account
after such transaction is effected; and

4.                                       Honor
only the instructions or entitlement orders in regard to or in connection with
the Account given by an Authorized Officer of the Pledgee, except that until
such time as the Pledgee gives a written notice to the Eligible Securities
Intermediary that the Pledgor’s rights under this sentence have been terminated
(on which notice the Eligible Securities Intermediary may rely exclusively),
the Pledgor acting through an Authorized Officer may (a) exercise any voting
rights that it may have with respect to any of the Assets, (b) give
instructions to enter into purchase or sale transactions in the Account and (c)
withdraw and receive for its own use all regularly scheduled interest and
dividends paid with respect to the 

 1
 

                                                Assets
and all cash proceeds of any sale of Assets (“Permitted Withdrawals”);
provided, however, that unless the Pledgee has consented to the specific
transaction, the Pledgor shall not instruct the Eligible Securities
Intermediary to deliver and, except as may be required by law or by court
order, the Eligible Securities Intermediary shall not deliver, cash and/or
securities, or proceeds from the sale of, or distributions on, such securities
out of the Account to the Pledgor or to any other person or entity other than
Permitted Withdrawals.

By its signature below, the Eligible Securities Intermediary agrees to
comply with the entitlement orders and instructions of an Authorized Officer of
the Pledgee (including without limitation any instructions with respect to
sales, trades, transfers and withdrawals of cash or other of the Assets)
without the consent of the Pledgor or any other person (it being understood and
agreed by the Pledgor that the Eligible Securities Intermediary shall have no
duty or obligation whatsoever of any kind or character to have knowledge of the
terms of the Amended and Restated Security Agreement or to determine whether or
not an event of default exists thereunder). 
The Pledgor hereby agrees to indemnify and hold harmless the Eligible
Securities Intermediary, its affiliates, officers and employees from and
against any and all claims, causes of action, liabilities, lawsuits, demands
and/or damages, including any and all court costs and reasonable attorney’s
fees, that may result by reason of the Eligible Securities Intermediary
complying with such instructions of the Pledgee.  In the event that the Eligible Securities
Intermediary is sued or becomes involved in litigation as a result of complying
with the above stated written instructions, the Pledgor and the Pledgee agree
that the Eligible Securities Intermediary shall be entitled to charge all costs
and fees it incurs in connection with such litigation to the Assets in the
Account and withdraw such sums as the costs and charges accrue.

The Authorized Officer of the Pledgee who shall give oral instructions
hereunder shall confirm the same in writing to the Eligible Securities
Intermediary within five days after such oral instructions are given.

For the purpose of this Agreement, the term “Authorized Officer of
Pledgor” shall refer in the singular to                                   
or                                   
(each of whom is, on the date hereof, an officer or director of the Pledgor)
and “Authorized Officer of Pledgee” shall refer in the singular to any Person
who is a vice president or managing director of the Pledgee.  In the event that the Pledgor shall find it
advisable to designate a replacement of any of its Authorized Officers, written
notice of any such replacement shall be given to the Eligible Securities
Intermediary and the Pledgee.

Except with respect to the obligations and duties as set forth herein,
this Agreement shall not impose or create any obligations or duties upon the
Eligible Securities Intermediary greater than or in addition to the customary
and usual obligations and duties of the Eligible Securities Intermediary to the
Pledgor.

 2
 

As long as the Assets are pledged to the Pledgee: (i) the Eligible
Securities Intermediary will not invade the Assets to cover margin debits or
calls in any other accounts of the Pledgor and (ii) the Eligible Securities
Intermediary agrees that, except for liens resulting from customary
commissions, fees, or charges based upon transactions in the Account, it
subordinates in favor of the Pledgee any security interest, lien or right of
setoff the Eligible Securities Intermediary may have.  The Eligible Securities Intermediary
acknowledges that it has not received notice of any other security interest in
the Account or the Assets.  In the event
any such notice is received, the Eligible Securities Intermediary will promptly
notify the Pledgee.  The Pledgor herein
represents that the Assets are free and clear of any lien or encumbrances and
agrees that, with the exception of the security interest granted to the
Pledgee, no lien or encumbrance will be placed by it on the Assets without the
express written consent of both the Pledgee and the Eligible Securities
Intermediary.

THIS AGREEMENT SHALL BE BINDING UPON AND INURE TO THE BENEFIT OF THE
PARTIES HERETO AND THEIR RESPECTIVE SUCCESSORS AND ASSIGNS AND IT AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, AND THE LAW OF THE ELIGIBLE
SECURITIES INTERMEDIARY’S JURISDICTION FOR THE PURPOSES OF SECTION 8-110 OF THE
UCC SHALL BE, THE LAW OF THE STATE OF NEW YORK.

The Eligible Securities Intermediary will treat all property at any
time held by the Eligible Securities Intermediary in the Account as financial
assets within the meaning of the Uniform Commercial Code.  The Eligible Securities Intermediary
acknowledges that this Agreement constitutes written notification to the
Eligible Securities Intermediary, pursuant to the Uniform Commercial Code and
any applicable federal regulations for the Federal Reserve Book Entry System,
of the Pledgee’s security interest in the Assets.  The Pledgor, Pledgee and Eligible Securities
Intermediary are entering into this Agreement to provide for the Pledgee’s
control of the Assets and to confirm the first and exclusive priority of the
Pledgee’s security interest in the Assets. 
The Eligible Securities Intermediary agrees to promptly make and
thereafter maintain all necessary entries or notations in its books and records
to reflect the Pledgee’s security interest in the Assets.

If any term or provision of this Agreement is determined to be invalid
or unenforceable, the remainder of this Agreement shall be construed in all
respects as if the invalid or unenforceable term or provision were
omitted.  This Agreement may not be
altered or amended in any manner without the express written consent of the
Pledgor, the Pledgee and the Eligible Securities Intermediary.  This Agreement may be executed in any number
of counterparts, all of which shall constitute one original agreement.

This Agreement may be terminated by the Eligible Securities Intermediary
upon 30 day’s prior written notice to the Pledgor and the Pledgee.  Upon expiration of such 30-day period, the
Eligible Securities Intermediary shall be under no further obligation except to
hold the Assets in accordance with the terms of this Agreement, pending receipt
of written 

 3
 

instructions from the Pledgor and the Pledgee,
jointly, regarding the further disposition of the pledged Assets.

The Pledgor acknowledges that this Agreement supplements any existing
agreements of the Pledgor with the Eligible Securities Intermediary and, except
as expressly provided herein, is in no way intended to abridge any rights that
the Eligible Securities Intermediary might otherwise have.

 4
 

IN WITNESS WHEREOF, the Pledgor and the Pledgee have caused this
Agreement to be executed by their duly authorized officers all as of the date
first above written.

	
  

  	
   

  	
   

  	
  [PLEDGOR]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  CREDIT SUISSE,
  CAYMAN ISLANDS BRANCH,

  as Collateral Agent

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ACCEPTED AND
  AGREED:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  [Eligible
  Financial Intermediary]

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  

 

 5
 

EXHIBIT A

Pledged Collateral Account Number:                                   

ASSETS

 

 6

Annex 3 to

Amended and Restated Security Agreement

PLEDGE AMENDMENT

This PLEDGE AMENDMENT, dated as of                  
     ,               ,
is delivered pursuant to Section 4.4(e) of the Amended and Restated
Security Agreement dated                            ,
2007 by Merisant Company (the “Borrower”),
Merisant Worldwide, Inc., the [undersigned Grantor and the other] Subsidiaries
of the Borrower from time to time party thereto as Grantors in favor of Credit
Suisse, as agent for the Secured Parties referred to therein (as it may be
amended, restated, or otherwise modified from time to time, the “Amended and Restated
Security Agreement”) and the
undersigned hereby agrees that this Pledge Amendment may be attached to the
Amended and Restated Security Agreement and that the Pledged Collateral listed
on this Pledge Amendment shall be and become part of the Collateral referred to
in the Amended and Restated Security Agreement and shall secure all Secured
Obligations of the undersigned. 
Capitalized terms used herein but not defined herein are used herein
with the meanings given them in the Amended and Restated Security Agreement.

	
  

  	
   

  	
   

  	
  [GRANTOR]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  

 

	
  Issuer

  	
   

  	
  Class

  	
   

  	
  Certificate Nos.

  	
   

  	
  Par Value

  	
   

  	
  Number of Shares,

  Units or Interests

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

	
  Issuer

  	
   

  	
  Description of Debt

  	
   

  	
  Certificate Nos.

  	
   

  	
  Final Maturity

  	
   

  	
  Principal Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 1
 

 

	
  ACKNOWLEDGED AND AGREED

  as of the date of this Pledge Amendment first above written.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  CREDIT SUISSE,
  CAYMAN ISLANDS BRANCH,

  as Collateral Agent

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  

 

 2

Annex 4 to

Amended and Restated Security Agreement

JOINDER AGREEMENT

This JOINDER AGREEMENT, dated as of                  
     ,              ,
is delivered pursuant to Section 7.12 of the Amended and Restated
Security Agreement dated as of                         ,
2007 by Merisant Company (the “Borrower”),
Merisant Worldwide, Inc., and the Subsidiaries of the Borrower listed on the
signature pages thereof in favor of Credit Suisse, as agent for the Secured
Parties referred to therein (as it may be amended, restated, or otherwise
modified from time to time, the “Amended and Restated Security Agreement”). 
Capitalized terms used herein but not defined herein are used with the
meanings given them in the Amended and Restated Security Agreement.

By executing and delivering this Joinder Agreement, the undersigned, as
provided in Section 7.12 of the Amended and Restated Security Agreement,
hereby becomes a party to the Amended and Restated Security Agreement as a
Grantor thereunder with the same force and effect as if originally named as a
Grantor therein and, without limiting the generality of the foregoing, hereby
grants to the Collateral Agent, as collateral security for the full, prompt and
complete payment and performance when due (whether at stated maturity, by
acceleration or otherwise) of the Secured Obligations of the undersigned,
hereby collaterally assigns, conveys, mortgages, pledges, hypothecates and
transfers to the Collateral Agent and grants to the Collateral Agent a Lien on
and security interest in, all of its right, title and interest in, to and under
the Collateral and expressly assumes all obligations and liabilities of a
Grantor thereunder.

The information set forth in Annex 1-A is hereby added to the
information set forth in Schedules 1 through 5 to the Amended and Restated
Security Agreement.

The undersigned hereby represents and warrants that each of the
representations and warranties contained in Article III of the Amended
and Restated Security Agreement applicable to it is true and correct on and as
the date hereof as if made on and as of such date.

[SIGNATURE PAGE FOLLOWS]

 1
 

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

	
  

  	
   

  	
   

  	
  [GRANTOR]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ACKNOWLEDGED AND
  AGREED

  as of the date of this Pledge Amendment first above written.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  CREDIT SUISSE,
  CAYMAN ISLANDS BRANCH,

  as Collateral Agent

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  

 

 2
 

Annex 1-A to

Joinder Agreement

Supplemental Information

 

 3

Annex 5 to

Amended and Restated Security Agreement

COPYRIGHT SECURITY AGREEMENT

COPYRIGHT SECURITY AGREEMENT, dated as of                     
      ,                ,
by Merisant Company (the “Borrower”) and
each of the other entities listed on the signature pages hereof [or which
becomes a party hereto pursuant to Section 7.12 of the Amended and
Restated Security Agreement referred to below] (each a “Grantor” and, collectively, the “Grantors”), in
favor of Credit Suisse (“CS”), as agent
for the Secured Parties (as defined in the Credit Agreement referred to below)
(in such capacity, the “Collateral Agent”).

WITNESSETH:

WHEREAS, pursuant to the Credit Agreement, dated as of                                   ,
2007 (as the same may be amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”)
among the Borrower, Merisant Worldwide, Inc., the Lenders and Issuers party
thereto, CS, as administrative agent for the Lenders and Issuers and as
collateral agent for the Lenders and Issuers, and Credit Suisse Securities
(USA) LLC and Jefferies Finance LLC as co-arrangers, Credit Suisse Securities
(USA) LLC, as bookrunner and Jefferies Finance LLC, as documentation agent, the
Lenders and the Issuers have severally agreed to make extensions of credit to
the Borrower upon the terms and subject to the conditions set forth therein;
and

WHEREAS, the Grantors other than the Borrower are party to the Guaranty
pursuant to which they have guaranteed the Obligations; and

WHEREAS, all the Grantors are party to an Amended and Restated Security
Agreement of even date herewith in favor of the Collateral Agent (as it may be
amended, restated, or otherwise modified from time to time, the “Amended and Restated
Security Agreement”) pursuant to
which the Grantors are required to execute and deliver this Copyright Security
Agreement;

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

Section 1               Defined
Terms. Unless otherwise defined herein, terms defined in the
Credit Agreement or in the Amended and Restated Security Agreement and used
herein have 

 1
 

the meanings given to them in the Credit Agreement or
the Amended and Restated Security Agreement.

Section 2               Grant
of Security Interest in Copyright Collateral. Each Grantor,
as collateral security for the full, prompt and complete payment and
performance when due (whether at stated maturity, by acceleration or otherwise)
of the Secured Obligations of such Grantor, hereby collaterally assigns,
conveys, mortgages, pledges, hypothecates and transfers to the Collateral Agent
for the benefit of the Secured Parties, and grants to the Collateral Agent for
the benefit of the Secured Parties a lien on and security interest in, all of
its right, title and interest in, to and under the following Collateral of such
Grantor (the “Copyright
Collateral”):

(a)           all of its Copyrights and Copyright
Licenses to which it is a party, including those referred to on Schedule I
hereto (as such Schedule may be amended from time to time by the addition of
Copyrights and Copyright Licenses, subsequently created or acquired, by
execution of a supplement in substantially the same form of Exhibit A attached
hereto);

(b)           all renewals of the foregoing; and

(c)           all Proceeds of the foregoing,
including any claim by Grantor against third parties for past, present, future
infringement of any Copyright or Copyright licensed under any Copyright
License.

Section 3               Amended
and Restated Security Agreement. The security interest
granted pursuant to this Copyright Security Agreement is granted in conjunction
with the security interest granted to the Collateral Agent pursuant to the
Amended and Restated Security Agreement and each Grantor hereby acknowledges
and affirms that the rights and remedies of the Collateral Agent with respect
to the security interest in the Copyright Collateral made and granted hereby
are more fully set forth in the Amended and Restated Security Agreement, the
terms and provisions of which are incorporated by reference herein as if fully set
forth herein.

IN WITNESS WHEREOF, each Grantor has caused this Copyright Security
Agreement to be executed and delivered by its duly authorized offer as of the
date first set forth above.

 2
 

 

	
  

  	
   

  	
   

  	
  Very truly
  yours,

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  [GRANTORS]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Accepted and
  Agreed:

  CREDIT SUISSE, CAYMAN ISLANDS BRANCH,

  as Collateral Agent

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  

 

 3
 

ACKNOWLEDGEMENT OF GRANTOR

	
  STATE OF

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  )

  	
  ss.

  
	
   

  	
   

  	
   

  
	
  COUNTY OF

  	
  )

  	
   

  

On this day of                               ,
          before me personally
appeared                                    ,
proved to me on the basis of satisfactory evidence to be the person who
executed the foregoing instrument on behalf of                                    ,
who being by me duly sworn did depose and say that he is an authorized officer
of said corporation, that the said instrument was signed on behalf of said
corporation as authorized by its Board of Directors and that he acknowledged
said instrument to be the free act and deed of said corporation.

	
  

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Notary Public

  

 

 4
 

Schedule I

to

Copyright Security Agreement

Copyright Registrations

	
  A.

  	
  REGISTERED COPYRIGHTS

  
	
   

  	
   

  
	
   

  	
  Copyright Reg. No. Date

  
	
   

  	
   

  
	
  B.

  	
  COPYRIGHT APPLICATIONS

  
	
   

  	
   

  
	
  C.

  	
  COPYRIGHT LICENSES

  
	
   

  	
   

  
	
   

  	
  Name of Agreement, Parties, Date of Agreement

  

 

 5

Annex 6 to

Amended and Restated Security Agreement

PATENT SECURITY AGREEMENT

PATENT SECURITY AGREEMENT, dated as of                     
      ,                
by Merisant Company (the “Borrower”) and
each of the other entities listed on the signature pages hereof [or which
becomes a party hereto pursuant to Section 7.12 of the Amended and
Restated Security Agreement referred to below] (each a “Grantor” and, collectively, the “Grantors”), in
favor of Credit Suisse (“CS”), as agent
for the Secured Parties (as defined in the Credit Agreement referred to below)
(in such capacity, the “Collateral Agent”).

WITNESSETH:

WHEREAS, pursuant to the Credit Agreement, dated as of                                   ,
2007 (as the same may be amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”)
among the Borrower, Merisant Worldwide, Inc., the Lenders and Issuers party
thereto, CS, as administrative agent for the Lenders and Issuers and as
collateral agent for the Lenders and Issuers, and Credit Suisse Securities
(USA) LLC and Jefferies Finance LLC as co-arrangers, Credit Suisse Securities
(USA) LLC, as bookrunner and Jefferies Finance LLC, as documentation agent, the
Lenders and the Issuers have severally agreed to make extensions of credit to
the Borrower upon the terms and subject to the conditions set forth therein;
and

WHEREAS, the Grantors other than the Borrower are party to the Guaranty
pursuant to which they have guaranteed the Obligations; and

WHEREAS, all the Grantors are party to an Amended and Restated Security
Agreement of even date herewith in favor of the Collateral Agent (as it may be
amended, restated, or otherwise modified from time to time, the “Amended and Restated
Security Agreement”) pursuant to
which the Grantors are required to execute and deliver this Patent Security
Agreement;

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

Section 1               Defined
Terms. Unless otherwise defined herein, terms defined in the
Credit Agreement or in the Amended and Restated Security Agreement and used
herein have 

 1
 

the meanings given to them in the Credit Agreement or
the Amended and Restated Security Agreement.

Section 2               Grant
of Security Interest in Patent Collateral. Each Grantor, as
collateral security for the full, prompt and complete payment and performance
when due (whether at stated maturity, by acceleration or otherwise) of the
Secured Obligations of such Grantor, hereby collaterally assigns, conveys,
mortgages, pledges, hypothecates and transfers to the Collateral Agent for the
benefit of the Secured Parties, and grants to the Collateral Agent for the
benefit of the Secured Parties a lien on and security interest in, all of its
right, title and interest in, to and under the following Collateral of such
Grantor (the “Patent
Collateral”):

(a)           all of its Patents and Patent
Licenses to which it is a party, including those referred to on Schedule I
hereto (as such Schedule may be amended from time to time by the addition of
Patents and Patent Licenses, subsequently created or acquired, by execution of
a supplement in substantially the same form of Exhibit A attached hereto);

(b)           all reissues, continuations or
extensions of the foregoing; and

(c)           all Proceeds of the foregoing,
including any claim by Grantor against third parties for past, present or
future infringement of any Patent or any Patent licensed under any Patent
License.

Section 3               Amended
and Restated Security Agreement. The security interest
granted pursuant to this Patent Security Agreement is granted in conjunction
with the security interest granted to the Collateral Agent pursuant to the
Amended and Restated Security Agreement and each Grantor hereby acknowledges
and affirms that the rights and remedies of the Collateral Agent with respect
to the security interest in the Patent Collateral made and granted hereby are
more fully set forth in the Amended and Restated Security Agreement, the terms
and provisions of which are incorporated by reference herein as if fully set forth
herein.

IN WITNESS WHEREOF, each Grantor has caused this Patent Security
Agreement to be executed and delivered by its duly authorized offer as of the
date first set forth above.

 2
 

 

	
  

  	
   

  	
   

  	
  Very truly
  yours,

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  [GRANTORS]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Accepted and
  Agreed:

  CREDIT SUISSE, CAYMAN ISLANDS BRANCH,

  as Collateral Agent

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  

 

 3
 

ACKNOWLEDGEMENT OF GRANTOR

	
  STATE OF

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  )

  	
  ss.

  
	
   

  	
   

  	
   

  
	
  COUNTY OF

  	
  )

  	
   

  

 

On this day of                               ,
          before me personally
appeared                                    ,
proved to me on the basis of satisfactory evidence to be the person who
executed the foregoing instrument on behalf of                                    ,
who being by me duly sworn did depose and say that he is an authorized officer
of said corporation, that the said instrument was signed on behalf of said
corporation as authorized by its Board of Directors and that he acknowledged
said instrument to be the free act and deed of said corporation.

	
  

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Notary Public

  

 

 4
 

Schedule I

to

Patent Security Agreement

Patent Registrations

	
  A.

  	
  REGISTERED PATENTS

  
	
   

  	
   

  
	
   

  	
  Patent Reg. No. Date

  
	
   

  	
   

  
	
  B.

  	
  PATENT APPLICATIONS

  
	
   

  	
   

  
	
  C.

  	
  PATENT LICENSES

  
	
   

  	
   

  
	
   

  	
  Name of Agreement, Parties, Date of Agreement

  

 

 5

Annex 7 to

Amended and Restated Security Agreement

TRADEMARK SECURITY AGREEMENT

TRADEMARK SECURITY AGREEMENT, dated as of                     
      ,                
by Merisant Company (the “Borrower”) and
each of the other entities listed on the signature pages hereof or which
becomes a party hereto pursuant to Section 7.12 of the Amended and
Restated Security Agreement referred to below (each a “Grantor” and, collectively, the “Grantors”), in
favor of Credit Suisse (“CS”), as agent
for the Secured Parties (as defined in the Credit Agreement referred to below)
(in such capacity, the “Collateral Agent”).

WITNESSETH:

WHEREAS, pursuant to the Credit Agreement, dated as of                                   ,
2007 (as the same may be amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”)
among the Borrower, Merisant Worldwide, Inc., the Lenders and Issuers party
thereto, CS, as administrative agent for the Lenders and Issuers and as
collateral agent for the Lenders and Issuers, and Credit Suisse Securities
(USA) LLC and Jefferies Finance LLC as co-arrangers, Credit Suisse Securities
(USA) LLC, as bookrunner and Jefferies Finance LLC, as documentation agent, the
Lenders and the Issuers have severally agreed to make extensions of credit to
the Borrower upon the terms and subject to the conditions set forth therein;
and

WHEREAS, the Grantors other than the Borrower are party to the Guaranty
pursuant to which they have guaranteed the Obligations; and

WHEREAS, all the Grantors are party to an Amended and Restated Security
Agreement of even date herewith in favor of the Collateral Agent (as it may be
amended, restated, or otherwise modified from time to time, the “Amended and Restated
Security Agreement”) pursuant to
which the Grantors are required to execute and deliver this Trademark Security
Agreement;

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

Section 1               Defined
Terms. Unless otherwise defined herein, terms defined in the
Credit Agreement or in the Amended and Restated Security Agreement and used
herein have 

 1
 

the meanings given to them in the Credit Agreement or
the Amended and Restated Security Agreement.

Section 2               Grant
of Security Interest in Trademark Collateral. Each Grantor,
as collateral security for the full, prompt and complete payment and
performance when due (whether at stated maturity, by acceleration or otherwise)
of the Secured Obligations of such Grantor, hereby collaterally assigns,
conveys, mortgages, pledges, hypothecates and transfers to the Collateral Agent
for the benefit of the Secured Parties, and grants to the Collateral Agent for
the benefit of the Secured Parties a lien on and security interest in, all of
its right, title and interest in, to and under the following Collateral of such
Grantor (the “Trademark
Collateral”):

(a)           all of its
Trademarks and Trademark Licenses to which it is a party, including those
referred to on Schedule I hereto (as such Schedule may be amended from time to
time by the addition of Trademarks and Trademark Licenses, subsequently created
or acquired, by execution of a supplement in substantially the same form of
Exhibit A attached hereto);

(b)           all renewals of the foregoing;

(c)           all goodwill of the business
connected with the use of, and symbolized by, each Trademark and each Trademark
License; and

(d)           all Proceeds of the foregoing,
including any claim by Grantor against third parties for past, present, future
(i) infringement or dilution of any Trademark or Trademark licensed under any
Trademark License or (ii) injury to the goodwill associated with any Trademark
or any Trademark licensed under any Trademark License.

Section 3               Amended
and Restated Security Agreement. The security interest
granted pursuant to this Trademark Security Agreement is granted in conjunction
with the security interest granted to the Collateral Agent pursuant to the
Amended and Restated Security Agreement and each Grantor hereby acknowledges
and affirms that the rights and remedies of the Collateral Agent with respect
to the security interest in the Trademark Collateral made and granted hereby
are more fully set forth in the Amended and Restated Security Agreement, the
terms and provisions of which are incorporated by reference herein as if fully
set forth herein.

IN WITNESS WHEREOF, each Grantor has caused this Trademark Security
Agreement to be executed and delivered by its duly authorized offer as of the
date first set forth above.

 2
 

 

	
  

  	
   

  	
   

  	
  Very truly
  yours,

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  [GRANTORS]

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  

 

 3
 

 

	
  

  	
   

  	
   

  	
   

  
	
  Accepted and
  Agreed:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  CREDIT SUISSE,
  CAYMAN ISLANDS BRANCH,

  as Collateral Agent

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  

 

 4
 

ACKNOWLEDGEMENT OF GRANTOR

	
  STATE OF

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  )

  	
  ss.

  
	
   

  	
   

  	
   

  
	
  COUNTY OF

  	
  )

  	
   

  

 

On this day of                               ,
          before me personally
appeared                                    ,
proved to me on the basis of satisfactory evidence to be the person who
executed the foregoing instrument on behalf of                                    ,
who being by me duly sworn did depose and say that he is an authorized officer
of said corporation, that the said instrument was signed on behalf of said
corporation as authorized by its Board of Directors and that he acknowledged
said instrument to be the free act and deed of said corporation.

	
  

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Notary Public

  

 

 5
 

Schedule I

to

Trademark Security Agreement

Trademark Registrations

	
  A.

  	
  REGISTERED TRADEMARKS

  
	
   

  	
   

  
	
   

  	
  MarkReg. No. Date

  
	
   

  	
   

  
	
  B.

  	
  TRADEMARK APPLICATIONS

  
	
   

  	
   

  
	
  C.

  	
  TRADEMARK LICENSES

  
	
   

  	
   

  
	
   

  	
  Name of Agreement, Parties, Date of Agreement

  

 

 6

Annex 8 to

Amended and Restated Security Agreement

ACKNOWLEDGMENT AND CONSENT

Reference is made to that
certain Amended and Restated Security Agreement (the “Amended and Restated Security Agreement”), dated                        ,
2007, made by the Grantors party thereto for the benefit of Credit Suisse, as
Collateral Agent.  Capitalized terms used
herein but not defined herein have the meanings given them in the Amended and
Restated Security Agreement.

The undersigned hereby
acknowledges receipt of a copy of the Amended and Restated Security Agreement
and agrees for the benefit of the Collateral Agent and the Lenders as follows:

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

2.             The undersigned will notify the Collateral Agent
promptly in writing of the occurrence of any of the events described in Section
4.4 of the Amended and Restated Security Agreement and will comply promptly
with any requirements thereof.

3.             The terms of Sections 5.3(c) and 5.5 of
the Amended and Restated Security Agreement shall apply to the undersigned,
mutatis mutandis, with respect to all actions that may be required pursuant to Section
5.3(c) or 5.5 of the Amended and Restated Security Agreement.

	
  

  	
   

  	
   

  	
  MERISANT SPAIN
  S.L.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Address for Notices:

  [10 South Riverside Plaza, Suite 850

  Chicago, IL 60606

  Fax: (312) 840-5440]

  

 

 1Exhibit
10.1(a)

PLIANT CORPORATION

2006 RESTRICTED STOCK INCENTIVE PLAN

FORM OF RESTRICTED STOCK AGREEMENT

THIS
RESTRICTED STOCK AGREEMENT (this “Agreement”)
is dated as of February 20, 2007 between Pliant Corporation, a Delaware
corporation (the “Corporation”) and ________________ (the “Executive”).

W I T N E S S E T H

WHEREAS, pursuant to
the Pliant Corporation 2006 Restricted Stock Incentive Plan (as amended,
supplemented or otherwise modified from time to time, the “Plan”), the
Corporation has granted to the Executive effective as of the date hereof (the “Award
Date”), a right to participate in the Plan, upon the terms and conditions
set forth herein and in the Plan.

NOW
THEREFORE, in consideration of services rendered and to be
rendered by the Executive, and the mutual promises made herein and the mutual
benefits to be derived therefrom, the parties agree as follows:

1.             Defined Terms. 
Capitalized terms used herein and not otherwise defined herein shall
have the meaning assigned to such terms in the Plan and, if not defined
therein, in the Corporation’s Amended and Restated Articles of Incorporation
(as amended, supplemented or otherwise modified from time to time, the “Charter”).

2.             Issuance and Sale of
Restricted Stock.  Subject to the terms of this Agreement and in
reliance upon the representations and warranties, covenants and agreements
contained herein, the Corporation hereby issues and sells to the Executive, and
the Executive hereby purchases from the Corporation, an aggregate of ________
shares of Series M Preferred Stock, par value $.01 per share of the Corporation
(the “Restricted Stock”) on the date hereof at a per share purchase
price equal to $20.00 (as hereafter ratably adjusted on account of any stock
dividend, stock combination, stock split or similar recapitalization with
respect to the outstanding shares of Series M Preferred Stock, the “Purchase
Price”).  The parties agree that the
fair value of one share of Restricted Stock on the date hereof is $103.00.

3.             Closing. 
The closing of the transactions contemplated hereby (the “Closing”)
will take place simultaneously with the execution and delivery of this
Agreement.  The Closing shall take place
at the Corporation’s executive offices in Schaumburg, Illinois.

4.             Deliveries at the Closing. 
At the Closing, the Executive shall deliver a check for the aggregate
Purchase Price for all shares of Restricted Stock to the Corporation.  Not more than ten (10) business days after
the Closing, the Corporation shall deliver to the Executive a stock certificate
(the “Original Certificate”) representing the Restricted Stock
registered in the name of the Executive in the stock register of the
Corporation.

5.             Representations and Warranties.

(a)           Executive Representations and
Warranties.  In connection with the
acquisition of the Restricted Stock hereunder, the Executive  hereby represents and warrants to the
Corporation as of the date of this Agreement that:

(i)            the Executive has the full authority
to execute and deliver this Agreement and to consummate the transactions
contemplated hereby, and the execution, delivery and performance by him of this
Agreement and the consummation of the transactions contemplated hereby have
been duly authorized by all necessary action;

(ii)           this Agreement has been duly and
validly executed and delivered by the Executive and this Agreement constitutes
a legal and binding obligation of the Executive, enforceable against the
Executive in accordance with its terms and the execution, delivery and
performance of this Agreement by the Executive does not and will not conflict
with, violate or cause a breach of any agreement, contract or instrument to
which the Executive is a party or any judgment, order or decree to which the
Executive is subject;

(iii)          the Executive understands that the Restricted
Stock has been issued pursuant to the Plan and is bound by the terms and
conditions contained in this Agreement as well as the Plan and the Executive
will not transfer the Restricted Stock acquired by him hereunder, except in
compliance with this Agreement and the Plan;

(iv)          the Executive is acquiring the
Restricted Stock for his own account, for investment only and not with a view
to, or an intention of, the distribution thereof  in violation of the Securities Act of 1933,
as amended or any successor federal law in effect from time to time (the “Securities
Act”);

(v)           the Executive has no need for
liquidity in his investment in the Restricted Stock and is able to bear the
economic risk of his investment in the Restricted Stock for an indefinite period
of time and understands that the Restricted Stock has not been registered or
qualified under the Securities Act or any applicable state securities laws, by
reason of the issuance of the Restricted Stock in a transaction exempt from
registration and qualification requirements of the Securities Act or such state
securities laws and, therefore, cannot be sold unless subsequently registered
or qualified under the Securities Act or such state securities laws or an
exemption from registration or qualification is available;

(vi)          the Executive has been represented by
counsel and/or advisors in connection with the execution and delivery of this
Agreement and has had an opportunity to ask questions and receive answers
concerning the terms and conditions of the offering of the Restricted Stock and
the fair value of the Restricted Stock and has had full access to or been
provided with all such other information concerning the Corporation as he has
requested;

 2
 

(vii)         the Executive has reviewed, or has had
an opportunity to review, a copy of the Plan (including all schedules and
exhibits referenced therein);

(viii)        the Executive is an officer of the
Corporation, and has generally such knowledge and experience in financial and
business matters and with respect to investments in securities of privately
held companies such that the Executive is capable of evaluating the risks and
merits of his investment in the Restricted Stock;

(ix)           the Executive further understands
that this Agreement is made with the Executive in reliance upon his
representations to the Corporation contained in this Section 5.

(b)           Corporation Representations and
Warranties.  In connection with the
issuance and sale by the Corporation to the Executive of the Restricted Stock,
the Corporation represents and warrants that:

(i)            it is a corporation duly organized,
validly existing and in good standing under the laws of the jurisdiction of its
incorporation, it has full corporate power and authority to execute, deliver
and perform this Agreement  and to
consummate the transactions contemplated hereby, and the execution, delivery
and performance by it of this Agreement and the consummation of the
transactions contemplated hereby have been duly authorized by all necessary
corporate action;

(ii)           the
Corporation has all requisite power and authority to execute and deliver this
Agreement and any and all instruments necessary or appropriate in order to
effectuate fully the terms and conditions of this Agreement, and the
transactions contemplated thereby.  This
Agreement has been duly authorized by all necessary action on the part of the
Corporation, has been duly executed and delivered by the Corporation  and constitutes the valid and legally binding
obligation of the Corporation, enforceable in accordance with its terms and
conditions, subject, as to enforcement, to bankruptcy, insolvency,
reorganization, moratorium and similar laws of general applicability relating
to or affecting creditors’ rights and to general equity principles;

(iii)          the
authorization, issuance, sale and delivery of the Restricted Stock, when issued
in accordance with this Agreement, will be duly authorized by all requisite
action of the Corporation’s Board of Directors. 
The Restricted Stock, when issued in accordance with this Agreement,
will be validly issued and outstanding, fully paid and nonassessable, with no
personal liability attaching to the ownership thereof, free and clear of any
liens and restrictions created by or through the Corporation whatsoever other
than those contained in the Plan and this Agreement;

 3
 

6.             Vesting
of Restricted Shares.

(a)           On
each of the 36 monthly anniversaries of the Vesting Commencement Date (as
defined below) (each a “Vesting Date”), 1/36th of the Restricted Stock
shall vest, provided that the Executive continues to be employed by the
Corporation as of each such Vesting Date. 
For the purposes hereof, the Vesting Commencement Date shall mean July
18, 2006.

(b)           Upon the consummation of a (i)
Liquidation Event, (ii) a Qualified Public Offering, or (iii) the redemption by
the Corporation of 80% or more of the aggregate number of shares of the
Corporation’s Series AA Redeemable Preferred Stock, par value $.01 per share (“Series
AA Preferred Stock”) outstanding at any time (a “ Series AA Redemption”,
and collectively with a Liquidation Event and a Qualified Public Offering, an “Acceleration
Event”), provided that, in each case, the Executive continues to be
employed by the Corporation following the date hereof to the date of the
consummation of such Acceleration Event, all Restricted Stock held by the
Executive, which shall then be Unvested Stock, shall automatically vest as of
the date of the consummation of the Acceleration Event.

(c)           Shares of Restricted Stock which have
become vested hereunder are referred to herein as “Vested Stock” and all
other shares of Restricted Stock are referred to herein as “Unvested Stock.”  Shares of Restricted Stock that are Unvested
Stock do not have any rights conferred upon the Restricted Stock under the
Charter, including without limitation, the right to receive any payment or
other consideration and conversion or redemption rights thereunder, until such
time as they became Vested Stock in accordance with this Agreement and the
Executive hereby waives all of the rights in respect thereof; provided,
however, that so long as the Executive continues to be employed by the
Corporation, the Executive shall be entitled to exercise the voting rights with
respect to the Vested Stock and the Unvested Stock.  The Executive hereby agrees that to the extent
that he shall have received any payment or other consideration relating to, or
in respect of, the Unvested Stock, the Executive shall be deemed to receive
such payment or other consideration as agent for the Corporation and shall
immediately upon receipt of such payment or other consideration deliver such
payment or other consideration to the Corporation.

(d)           To the extent that any dividends
would be payable with respect to any Restricted Stock which is Unvested Stock
if such Unvested Stock were Vested Stock at the time of such dividend, such
dividends which would have been payable with respect to such Unvested Stock
were it Vested Stock shall be held in trust by the Corporation, and shall be
paid with respect to such shares of Unvested Stock at such time, but only in
the event that, such shares of Unvested Stock become Vested Stock.  At such time as such shares of Unvested Stock
become subject to repurchase by the Corporation pursuant to Section 8(a)
hereof, such dividends shall be forfeited and no longer payable under any
circumstances.

7.             Termination
of Employment in Connection with a Liquidation Event.

(a)           If the Executive’s
employment with the Corporation is terminated pursuant to a Termination Without
Cause or a Resignation for Good Reason (as such terms are defined below) and an
Acceleration Event is consummated within 90 days following the 

 4
 

Termination Date
(as such term is defined below), then all Restricted Stock held by the
Executive which shall then be Unvested Stock shall automatically vest as of the
date of the consummation of such Acceleration Event.

(b)           If the Executive’s employment with
the Corporation is terminated as a result of the Executive’s death or
Disability (as such term is defined below) and an Acceleration Event is
consummated within 90 days following such Termination Date (as such term is
defined below), then all Restricted Stock held by the Executive which shall
then be Unvested Stock shall automatically vest as of the date of the
consummation of such Acceleration Event.

8.             Effect of Termination of
Employment; Repurchase of Unvested Stock.

(a)           Repurchase of Unvested Stock.  The Executive’s shares of Unvested Stock, to
the extent such shares have not become Vested Stock upon the Termination Date
(as such term is defined below), may, at any time, and from time to time on or
after the Termination Date, at the Corporation’s option, be repurchased by the
Corporation at a price per share equal to the Purchase Price.  The Corporation, at its option, may assign or
transfer such repurchase right to any affiliate or assignee of the
Corporation.  On and after the
Termination Date (as such term is defined below), the Executive shall have no
rights in, and hereby forfeits any and all rights the Executive may have with
respect to, the Unvested Stock (except pursuant to Section 7 if such Unvested
Stock shall become Vested Stock in accordance therewith) if any, and hereby
assigns, transfers and grants a lien and security interest to the Corporation
in the Unvested Stock and any rights he may have with respect thereto.  In order to preserve the Executive’s right to
accelerated vesting of the Unvested Stock in accordance with Section 7, if the
Executive’s employment with the Corporation is terminated (i) pursuant to a
Termination Without Cause or a Resignation for Good Reason (as such terms are
defined below), the Corporation shall not repurchase the Executive’s shares of
Unvested Stock until ninety days following the Termination Date (as such term
is defined below), or (ii) pursuant to a termination as a result of a death or
Disability (as such term is defined below), the Corporation shall not
repurchase the Executive’s shares of Unvested Stock until 90 days following the
Termination Date (as such term is defined below), provided that, in each case, such
Unvested Stock shall never become Vested Stock except in accordance with
Section 7.

(b)           Treatment of Vested Stock.  At any time prior to the occurrence of an
Acceleration Event but after (x) ninety days after Executive’s Termination Date
in the case of a pursuant to a Termination Without Cause or a Resignation for
Good Reason (as such terms are defined below) or after Executive’s death or
Disability or (y) the Termination Date in any other circumstances the
Corporation shall have the right to repurchase all or any portion of Executive’s
Vested Stock for a price pre share equal to the Fair Market Value per share (as
defined below) as of (x) the Termination Date or (y) if such right to
repurchase is exercised more than one hundred and eighty days after the
Termination, as of the date of such exercise (the “Determination Date”);
provided, however, that if Executive’s termination was by the Corporation with
Cause (as defined below) the purchase price shall be the lower of the Purchase
Price and Fair Market Value as of the Determination Date.  This right to repurchase shall be exercised
by delivery of written notice of exercise by the Corporation to the Executive,
which notice (the “Buy-Back Notice”) shall specify (i) the date on which
such repurchase is to occur (which in no event shall be less than thirty days
after the date of such notice), (ii) the number of shares of Vested Stock and
(iii) 

 5
 

the Fair Market Value
(including whether such Fair Market Value was determined by an independent
appraisal firm, and if so, the date of such appraisal).

(i)            For the purposes hereof, Fair Market
Value shall equal the fair market value of a share of Series M Preferred Stock,
as determined in good faith by the Board in a manner consistent with the manner
in which fair market value was determined in connection with the grant and
issuance of the Series M Preferred Stock; provided, however, that in the event
that such value was not determined based upon an appraisal conducted by an
independent appraisal firm not more than six months prior to or after the
Determination Date, then the Executive may require, by delivering written
notice to the Corporation no more than ten (10) days after delivery of the
Buy-Back Notice, that such an appraisal be conducted by an independent appraisal
firm selected by the Board to definitively determine Fair Market Value.

(ii)           The purchase price for any Vested
Shares purchased pursuant to this 8(b) shall be paid in cash or, provided that,
either (x) the Executive’s employment was terminated by Executive and was not a
Resignation for Good Reason or as a result of his or her death or Disability
and/or (y) such termination occurred while Harold Beavis is Chief Executive
Officer of the Corporation (regardless of the circumstances), then the
Corporation may elect to pay 20% of the aggregate purchase price in cash, with
the remainder to be paid in ten equal annual installments over a ten year
period after the date of the repurchase; provided, that any unpaid amounts
shall be paid in full upon the occurrence of an Acceleration Event.

(c)           Stock Certificates.  Immediately following the Termination Date
(as such term is defined below) and upon delivery of the Original Certificate
to the Corporation by the Executive, the Corporation shall, in exchange for the
Original Stock Certificate, deliver to the Executive, (i) a stock certificate
(the “Vested Stock Certificate”) representing the number of shares of
Vested Stock held by the Executive as of the Termination Date (as such term is
defined below) and (ii) a stock certificate (the “Unvested Stock Certificate”)
representing the number of shares of Unvested Stock held by the Executive as of
the Termination Date (as such term is defined below).  In the event that such shares of Unvested
Stock become Vested Stock pursuant to Section 7 above, the Corporation shall,
in exchange for the Unvested Stock Certificate, deliver to the Executive either
a stock certificate representing such shares of Vested Stock or the Mandatory
Redemption Price for such shares, as the case may be.   In addition to any other legends placed upon
the certificates representing Restricted Stock, certificates representing
Restricted Stock shall have the following legend:

“THE SHARES OF STOCK
EVIDENCED HEREBY ARE RESTRICTED STOCK AS DEFINED IN THE RESTRICTED STOCK
AGREEMENT DATED AS OF FEBRUARY 20, 2007, BETWEEN THE CORPORATION AND THE
EXECUTIVE NAMED THEREIN (THE “RESTRICTED STOCK AGREEMENT”) AND, EXCEPT TO THE
EXTENT PROVIDED IN SUCH RESTRICTED STOCK AGREEMENT, THE HOLDER OF SUCH SHARES
IS NOT ENTITLED TO ANY INTEREST OR RIGHTS PROVIDED THEREIN UNTIL SUCH TIME AS
THEY BECOME VESTED STOCK IN ACCORDANCE WITH THE RESTRICTED 

 6
 

STOCK AGREEMENT”

(d)           In the event that the any capital
stock is to be repurchased pursuant to this Section 8 or in order to effectuate
the Drag Along Rights contained in the Plan, the Executive and his successors,
assigns or representatives shall take (at the Corporation’s expense) all steps
necessary and desirable to obtain all required third-party, governmental and
regulatory consents and approvals and take all other actions necessary and
desirable to facilitate the consummation of such repurchases or such Drag Along
Rights, as the case may be, in a timely manner. 
The Executive shall promptly return to the Corporation share certificates
representing shares of the capital stock repurchased pursuant to this Section
8.

(e)           For the purposes of this Agreement,
the following terms shall have the meanings, provided herein:

(i)            “Cause”
shall mean:

(A)          the
Executive’s commission of a crime involving his or her fraud, theft or
dishonesty or engagement in willful or wrongful activities that are materially
detrimental to the Corporation;

(B)           the
material and willful breach by the Executive of his or her responsibilities as
an employee of the Corporation or willful failure to comply with reasonable
directives or policies of the Corporation, the Board, the Chief Executive
Officer or his designees, but only if the Corporation has given Executive
written notice specifying the breach or failure to comply, demanding that the
Executive remedy the breach or failure to comply and the Executive (1) failed
to remedy the alleged breach or failed to comply within thirty days after
receipt of the written notice and (2) failed to take all reasonable steps to
that end during the thirty days after he received the notice.

(C)           the
continued use of alcohol or drugs by the Executive to an extent that such use
interferes with the performance of the Executive’s duties and responsibilities.

Notwithstanding
the foregoing, the term “Cause” shall not include any one or more of the
following: (i) bad management decision-making by the Executive or (ii) any act
or omission reasonably believed by the Executive in good faith to have been in
and not opposed to the best interests of the Corporation (without intent of the
Executive to gain, directly or indirectly, a profit to which the Executive was
not legally entitled) and reasonably believed by the Executive not to have been
improper or unlawful.

(ii)           “Disability”
means any medically determinable physical or mental impairment that has lasted,
or is reasonably expected to last, for a period of at least six (6) months, can
reasonably be expected to be permanent or of indefinite duration, and renders
the Executive unable to perform his duties hereunder, as certified by a
physician jointly selected by the Corporation and the Executive or the
Executive’s legal representative.

 7
 

(iii)          “Resignation
for Good Reason” shall mean Executive’s termination of his or her
employment with the Corporation and its Subsidiaries in response to any of the
following events:

(A)          the
assignment to the Executive of any material duty materially inconsistent with
the Executive’s position (including status, offices, titles and reporting
requirements), authority, duties or responsibilities;

(B)           any
reduction in the Executive’s base salary or bonus compensation (other than any
decrease in bonus compensation as a result of a failure to achieve reasonable
performance targets which are consistent with past performance targets applied
in connection with determining bonus compensation); or

(C)           the
Corporation requires the Executive to, or assigns duties to the Executive which
would reasonably require him to, relocate his principal business office more
than forty (40) miles from where it is located on the date hereof;

provided,
however that an event described above will not constitute “Good Reason” unless
(1) such event occurs without the Executive’s express written consent, (2) the
Executive delivers a written notice to the Corporation of the occurrence of any
such event not more than ninety (90) days following the occurrence of such
events, and (3) the Corporation fails to cure or remedy such event within
thirty days (the “Cure Period”) after receiving written notice thereof
from the Executive.  The failure by the
Executive to terminate his or her employment with the Corporation and its
subsidiaries within thirty days after the end of the Cure Period in respect of
an event otherwise qualifying as Good Reason will preclude the Executive from
invoking such event as the basis for Good Reason.

(iv)          “Termination
Date” shall mean the effective date of the termination of Executive’s
employment with the Corporation.

(v)           “Termination
Without Cause” occurs if the Corporation terminates the Executive’s
employment for reasons that do not constitute Cause and other than as the
result of his death or Disability.

9.             Conversion Upon a Qualified
Public Offering.  In the event an automatic conversion of the
Restricted Stock occurs upon a Qualified Public Offering pursuant to the
Charter, the Executive shall take the same necessary and desirable actions in
connection with the consummation of the Qualified Public Offering as the other
stockholders are required to take in connection therewith, including without
limitation, the execution and delivery of any underwriting, custody, lock-up or
similar agreements.

10.          Stock Certificates.

 8
 

(a)           Certificates to be Held by
Corporation; Legend.  Any
certificates representing Restricted Stock shall bear the following legend:

“THE OWNERSHIP OF THIS CERTIFICATE AND THE SHARES OF
STOCK EVIDENCED HEREBY AND ANY INTEREST THEREIN IS SUBJECT TO SUBSTANTIAL
RESTRICTIONS ON TRANSFER UNDER AN AGREEMENT ENTERED INTO BETWEEN THE REGISTERED
OWNER AND PLIANT CORPORATION.  A COPY OF
SUCH AGREEMENT IS ON FILE IN THE OFFICE OF THE SECRETARY OF PLIANT CORPORATION.”

(b)           Stock Power; Power of Attorney.  Concurrent with the execution and delivery of
this Agreement, the Executive shall deliver to the Corporation an executed
stock power in the form attached hereto as Exhibit A, in blank.  The Executive, by acceptance of the
Restricted Stock Award under the Plan, shall be deemed to appoint, and does so
appoint by execution of this Agreement, the Corporation and each of its
authorized representatives as the Executive’s attorney(s)-in-fact to:

(i)            effect any transfer of, or
transaction with respect to, capital stock of the Corporation pursuant to or
referenced in Section 8 hereof (including any Drag Along Rights);

(ii)           to effect a conversion of the
Restricted Stock upon a Qualified Public Offering pursuant to the Charter; and

(iii)          to execute such documents as the
Corporation deems necessary or advisable in connection with any such transfer
or transaction or conversion.

11.          Tax Election. 
THE EXECUTIVE ACKNOWLEDGES THAT IT IS THE EXECUTIVE’S SOLE
RESPONSIBILITY, AND NOT THE CORPORATION’S, TO DECIDE IF AN ELECTION UNDER
SECTION 83(B) OF THE INTERNAL REVENUE CODE SHOULD BE MADE AND TO FILE TIMELY
SUCH ELECTION, EVEN IF THE EXECUTIVE REQUESTS THE CORPORATION OR ITS
REPRESENTATIVES TO MAKE THIS FILING ON HIS BEHALF.  The Executive understands that under
applicable law such election must be filed with the Internal Revenue Service
(the “IRS”) within thirty (30) days after any acquisition of Restricted Stock
to be effective.  If the Executive files
an effective election, the excess of the fair value of the Restricted Stock
(which the IRS may assert is different from the fair value determined by the
parties) covered by such election over the amount paid by the Executive for the
Restricted Stock shall be treated as ordinary income received by the Executive,
and the Corporation shall withhold from the Executive’s compensation all
amounts required under applicable law. 
If the Executive does not file an effective election, future
appreciation on the Restricted Stock will generally be taxable as ordinary
income when such Restricted Stock vests pursuant to this Agreement.  The foregoing is merely a brief summary of
complex tax regulations, and therefore, the Executive is strongly advised to
consult with his own tax advisors.

12.          Notices. 
Any notice to be given under the terms of this Agreement shall be in
writing and addressed to the Corporation at its principal office located at
1475 Woodfield Road, Suite 700, Schaumburg, Illinois 60173 to the attention of
the Chief Financial Officer and to the 

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Executive at the address given beneath the Executive’s
signature hereto, or at such other address as either party may hereafter
designate in writing to the other.

13.          Plan. 
The Restricted Stock and all rights of the Executive with respect
thereto are subject to, and the Executive agrees to be bound by, all of the
terms and conditions of the provisions of the Plan, incorporated herein by
reference, to the extent such provisions are applicable to Restricted Stock
granted to Eligible Persons (as defined in the Plan).  The Executive acknowledges receipt of a copy
of the Plan, which is made a part hereof by this reference, and agrees to be
bound by the terms thereof.  Unless otherwise
expressly provided in other Sections of this Agreement, provisions of the Plan
that confer discretionary authority on the Administrator do not (and shall not
be deemed to) create any rights in the Executive unless such rights are
expressly set forth herein or are otherwise in the sole discretion of the
Administrator so conferred by appropriate action of the Administrator under the
Plan after the date hereof. 
Notwithstanding the foregoing, nothing contained herein shall limit the
discretionary authority of the Administrator pursuant to Section 3.2(d)-(g),
(i)-(k) and Section 6 and 7 of the Plan, except to the extent the exercise of
such authority materially adversely affects the rights of the Executive
hereunder.

14.          Survival of Representations, Warranties
and Agreements.  All representations, warranties and
agreements contained herein shall survive the consummation of the transactions
contemplated hereby and the termination of this Agreement indefinitely.

15.          Entire Agreement; Amendment. 
This Restricted Stock Agreement and the Plan together constitute the
entire agreement and supersede all prior understandings and agreements, written
or oral, of the parties hereto with respect to the subject matter hereof.  The provisions of this Agreement may be amended,
modified and waived only with the prior written consent of the Corporation and
the Executive and no course of conduct or failure or delay in enforcing the
provisions of this Agreement shall be construed as a waiver of such provisions
or affect the validity, binding effect or enforceability of this Agreement or
any provision hereof.  Notwithstanding
anything to the contrary contained in the Plan or the Charter, any amendment,
modification or waiver to the terms of the Restricted Stock contained in the
Charter and Plan that would materially adversely affect the Executive’s rights
therein or herein or which materially adversely affects the rights or
priorities of the Restricted Stock, shall not be effective against the
Executive without the prior written consent of the Executive.  Notwithstanding the foregoing, nothing
contained herein shall limit the Corporation’s ability to make amendments,
modifications or waivers to the terms of the Plan or Charter to the extent the
requirements set forth in the Plan and the Charter regarding such amendments,
modifications and waivers have been met.

16.          WAIVER OF JURY TRIAL. 
EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL
BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO
THIS AGREEMENT.

17.          Remedies. 
Each of the parties to this Agreement shall be entitled to enforce its
rights under this Agreement specifically to recover damages and costs
(including reasonable attorneys’ fees and expenses) for any breach of any provision
of this Agreement and to exercise 

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all other rights existing in its favor.  The parties hereto agree and acknowledge that
money damages may not be an adequate remedy for any breach of the provisions of
this Agreement and that any party hereto may in its sole discretion apply to
any court of law or equity of competent jurisdiction for specific performance
and/or other injunctive relief (without posting any bond or deposit) in order
to enforce or prevent any violations of this Agreement.

18.          Counterparts. 
This Agreement may be executed simultaneously in any number of
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

19.          Section Headings. 
The section headings of this Agreement are for convenience of reference
only and shall not be deemed to alter or affect any provision hereof.

20.          Governing Law. 
This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of New York without regard to conflict of
law principles thereunder.

*  *  * 
*  *

 11

IN
WITNESS WHEREOF, the Corporation has caused this Agreement to be
executed on its behalf by a duly authorized officer and the Executive has
hereunto set his hand as of the date and year first above written.

	
  

  	
  PLIANT CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signature

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Print Name

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address

  

 

Exhibit
10.1(a)

EXHIBIT A

STOCK POWER

FOR
VALUE RECEIVED and pursuant to that certain Restricted Stock Award Agreement
between Pliant Corporation, a Delaware corporation (the “Corporation”),
and _______________ (the “Executive”) dated as of __________, the
Executive, hereby sells, assigns and transfers to the Corporation, an aggregate
_____ shares of Series M Preferred Stock of the Corporation, standing in the
Executive’s name on the books of the Corporation and represented by stock
certificate number(s) _____________________________________________ to which
this instrument is attached, and hereby irrevocably constitutes and appoints
_________________ ____________________________________ as his or her attorney
in fact and agent to transfer such shares on the books of the Corporation, with
full power of substitution in the premises.

Dated ____________,
__________

	
   

  	
   

  
	
  

  	
  Signature

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Print Name

  

 

(Instruction:
Please do not fill in any blanks other than the signature line.  The purpose of the assignment is to enable
the Corporation to exercise certain rights set forth in the Restricted Stock
Award Agreement and Charter without requiring additional signatures on the part
of the Individual.)

Exhibit 10.1(a)

EXHIBIT B

SPOUSAL
ACKNOWLEDGMENT

The
undersigned spouse of the Executive has read and hereby approves the foregoing
Restricted Stock Agreement.  In
consideration of the Corporation’s granting the Executive the right to acquire
the Restricted Stock in accordance with the terms of such Agreement, the
undersigned hereby agrees to be irrevocably bound by all the terms of such
Agreement and the Plan.

	
   

  	
   

  
	
  

  	
  Spouse of Executive

  

 

Exhibit
10.1(a)

EXHIBIT C

ELECTION TO INCLUDE STOCK
IN GROSS

INCOME PURSUANT TO SECTION 83(b) OF THE

INTERNAL REVENUE CODE

The
undersigned purchased • shares of
Series M Preferred Stock, $.01 par value per share (the “Series M Preferred
Stock”), of Pliant Corporation (the “Corporation”) pursuant to a
Restricted Stock Agreement (the “Restricted Stock Agreement”) dated as
of February 20, 2007, between the Corporation and the undersigned.  Under certain circumstances, the Corporation
has the right of forfeiture of the unvested Series M Preferred Stock from the
undersigned, upon the termination of his employment with the Corporation.  Hence, the Series M Preferred Stock is
subject to a substantial risk of forfeiture and is nontransferable (within the
meaning of Treasury Regulation §1.83-3(d)). 
The undersigned desires to make an election under Section 83(b) of the
Internal Revenue Code (“Code”) to have the Series M Preferred Stock
taxed at the time the undersigned purchased the Series M Preferred Stock.

Therefore,
pursuant to Code §83(b) and Treasury Regulation §1.83-2 promulgated thereunder,
the undersigned hereby makes an election, with respect to the Series M
Preferred Stock, to report as taxable income for the undersigned’s taxable year
ended December 31, 2007 the excess (if any) of the Series M Preferred Stock’s
fair market value on February 20, 2007 over the purchase price thereof.

The
following information is supplied in accordance with Treasury Regulation
§1.83-2(e):

The
name, address and social security number of the undersigned:

 

 

A description of the
property with respect to which the election is being made: •
shares of Series M Preferred Stock, $.01 par value per share.

The date on which the
property was transferred: February 20, 2007 
The taxable year for which such election is made: The undersigned’s
taxable year ended December 31, 2007.

The restrictions to which
the property is subject:

All or any portion of the
shares of Series M Preferred Stock which have not “vested” 

are subject to repurchase by
the Corporation in the event the undersigned ceases to be or is no longer
employed by the Corporation and for any reason whatsoever and in such event the
purchase price for each share of Series M Preferred Stock which has not “vested”
subject to repurchase will be $20 per share.

The Series M Preferred Stock
will “vest” on a monthly basis during the 3 years from July 31, 2006 (i.e., a
portion of the shares are vested as of the date of grant) during the time that
the undersigned remains employed by the Corporation and shall vest upon a
liquidation event, a qualified public offering, the redemption of the
Corporation’s Series AA Preferred Stock, if the undersigned is so employed on
the effective date thereof and, in certain circumstances, may vest within nine
months after the termination of such employment.

The fair value on February
20, 2007 of the property with respect to which the election is being made,
determined without regard to any lapse restrictions:  $•(1).

The amount paid for such
property:  $•(2).

(1)             $103 per share

(2)             $20 per share

A copy of this election has been furnished to the
Secretary of the Corporation pursuant to Treasury Regulations § 
1.83-2(e)(7).

Dated:    February 20, 2007

	
   

  	
   

  
	
  

  	
  Executive

  

 

This election must be filed
with the Internal Revenue Service Center with which taxpayer files his or her
Federal income tax returns and must be made within thirty (30) days after the
date hereof.  This filing should be made
by registered or certified mail, return receipt requested.  The Executive must retain two (2) copies of
the completed form for filing with his Federal and state tax returns for the
current tax year and an additional copy of his records.

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