Document:

Exhibit 10.30

 

 

	
  FY04 Individual Compensation Plan

  
	
  Effective Date:5/2/04 - 10/30/04

  
	
  Type:

  	
  o Initial

  
	
  ý Revision

  
	
  revised 6.8.04

  

 

NAME: Vicki L. Andrews

 

TITLE: Sr. Vice President, Worldwide Sales

 

FY04  COMPENSATION PLAN:

 

	
   

  	
   

  	
  ANNUAL $

  	
   

  	
   

  	
   

  
	
  Base Salary:

  	
   

  	
  $

  	
  350,000

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Worldwide Bookings Bonus:

  	
   

  	
  $

  	
  [*]

  	
   

  	
  (paid at
  100% of achievement, after fiscal year end)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quarterly Revenue Bonus:

  	
   

  	
  $

  	
  [*]

  	
   

  	
  (paid for
  meeting quarterly target revenue)

  	
   

  
	
  Annual FYRI Revenue Bonus:

  	
   

  	
  $

  	
  [*]

  	
   

  	
  (payable at
  fiscal year-end)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Corporate MBO Bonus:

  	
   

  	
  $

  	
  [*]

  	
   

  	
  (payable at
  fiscal year-end)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total Variable at Target:

  	
   

  	
  $

  	
  [*]

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total Target Compensation at Plan:

  	
   

  	
  $

  	
  [*]

  	
   

  	
   

  	
   

  

 

I.  PLAN TARGETS:

	
   

  	
   

  	
  Q1

  	
   

  	
  Q2

  	
   

  	
  Q3

  	
   

  	
  Q4

  	
   

  	
  FY04 Total

  	
   

  
	
  Worldwide Bookings QUOTA:

  	
   

  	
  $

  	
  [*]

  	
   

  	
  $

  	
  [*]

  	
   

  	
  $

  	
  [*]

  	
   

  	
  $

  	
  [*]

  	
   

  	
  $

  	
  [*]

  	
   

  
																	

 

QUARTERLY
REVENUE TARGET:                                                                                                [*]

 

II.  PLAN
MECHANICS

 

A.                                    BOOKINGS VOLUME BONUS:

 

The
Bookings Bonus is paid at fiscal (annual) year-end on the basis of the bookings
level achieved, according to the “Sales Commission/Bonus Policy” (attached) and
the current “Synopsys Sales Order Acceptance and Distribution Policy”
(attached).

 

Bonus
is paid according to the following formula for performance against the FY04
bookings targets:

 

In
addition, for achievement of the last 3 quarter’s booking target, an
additional 1/4 of the bookings bonus will be paid after year end.

 

	
  % of FY04

  Annual Target Bookings Quota Achieved

  	
   

  	
  Percent of Annual Target Bonus

  	
   

  	
  Bonus Points (All 4 Qtrs Booking Target achieved)

  	
   

  	
  Comments

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  < [*]%

  	
   

  	
  0.0%

  	
   

  	
  0

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [*]% - [*]%

  	
   

  	
  [*]% - [*]%

  	
   

  	
  0

  	
   

  	
  [*] pts for
  every point

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  >[*]% - [*]%

  	
   

  	
  [*]% - [*]%

  	
   

  	
  0

  	
   

  	
  [*] pts for
  every point

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  >[*]%

  	
   

  	
  [*]% + [*]%

  	
   

  	
  [*]%

  	
   

  	
  1 Qtr above
  the target: [*]%

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  2 Qtrs above the target: [*]%

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  3 Qtrs above the target: [*]%

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  4 Qtrs above the target: [*]%

  	
   

  

 

1

 

B.                                    REVENUE TARGET BONUS

 

The current quarterly/annual fiscal year-end
revenue bonus is paid based on:

B-1.                         Achieving
100% of the current corporate quarterly target revenue, and/or;

B-2.                         Achieving
the targeted fiscal year revenue incentive (FYRI) based on the
proportion of [*] at a minimum threshold level defined below.

B-3.                         No quarterly
revenue bonus is paid unless the current quarter’s revenue target is achieved
(100%).

B-4.                         The annual
year-end Revenue Target Incentive (FYRI) is derived from the worldwide
achievement of the FYRI revenue target. 
(See below)

B-4-1.              The annual
year-end Revenue achievement (FYRI) is derived from the [*] attained at the
fiscal year-end.

B-4-2.              Orders eligible for
FYRI are defined in the Sales Bonus/Commission policy, section 6.2.

 

B-5.                              Quarterly
and Annual Revenue Bonus Targets

 

	
   

  	
   

  	
  Q1

  	
   

  	
  Q2

  	
   

  	
  Q3

  	
   

  	
  Q4

  	
   

  	
  Total

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Plan Revenue
  Target

  	
   

  	
  [*]

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quarterly
  Revenue Bonus

  	
   

  	
  $

  	
  [*]

  	
   

  	
  $

  	
  [*]

  	
   

  	
  $

  	
  [*]

  	
   

  	
  $

  	
  [*]

  	
   

  	
  $

  	
  [*]

  	
   

  
	
  Annual FYRI
  Bonus

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  [*]

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Total:

  	
   

  	
  $

  	
  [*]

  	
   

  
																	

 

B-5-1.              Annual FYRI Bonus is
paid according to the following formula for performance against the FY04 annual
revenue target of $[*].

 

	
  Target FYRI Revenue Attained

  	
   

  	
  % of the FYRI Payout

  	
   

  	
  Comments

  	
   

  
	
  < [*]%

  	
   

  	
  $0

  	
   

  	
   

  	
   

  
	
  [*] - [*]%

  	
   

  	
  [*] - [*]%

  	
   

  	
  [*]% per point

  	
   

  
	
  > [*] - [*]%

  	
   

  	
  [*]-[*]%

  	
   

  	
  [*]% per point

  	
   

  
	
  >[*]%

  	
   

  	
  [*]% + [*]%

  	
   

  	
  [*]% per point

  	
   

  

 

FYRI Payout Example

 

	
  Attainment (%)

  	
   

  	
  Payout (%)

  	
   

  	
  Payout (Amt)

  	
   

  
	
  @
  [*]

  	
  %

  	
  [*]

  	
  %

  	
  $

  	
  [*]

  	
   

  
	
  @ [*]

  	
  %

  	
  [*]

  	
  %

  	
  $

  	
  [*]

  	
   

  
	
  @ [*]

  	
  %

  	
  [*]

  	
  %

  	
  $

  	
  [*]

  	
   

  
	
  @ [*]

  	
  %

  	
  [*]

  	
  %

  	
  $

  	
  [*]

  	
   

  
	
  @ [*]

  	
  %

  	
  [*]

  	
  %

  	
  $

  	
  [*]

  	
   

  

 

NOTES:

 

This
plan is subject to all provisions of the current “Synopsys Commission/Bonus Policy”
(attached) and the current “Synopsys Sales Order Acceptance Policy”
(attached).  All elements of this plan
are subject to change at any time during the year.

 

Plan
targets reflect those in place at this time. 
These targets may be revised as conditions require subject to the
approval of the President/COO.

 

This plan is applicable only if the Sr. VP of
HR, the President/COO, and the CEO approve.

 

	
  SIGNATURES:

  	
  Signature below by employee acknowledges
  receipt of:

  
	
   

  	
  1) FY04 Individual Compensation Plan

  
	
   

  	
  2) FY04 Sales Commission/Bonus Policy

  
	
   

  	
  3) FY04 Revenue Recognition Policy

  
	
   

  	
  4) FY04 Sales Order Acceptance Policy

  

 

 

	
  /s/ Vicki L. Andrews

  	
   

  	
   

  	
  /s/ Aart de Geus

  	
   

  
	
  Vicki L. Andrews

  	
  Date

  	
   

  	
  Aart de Geus,

  	
  Date

  
	
  Sr. Vice President, Worldwide Sales

  	
   

  	
   

  	
  Chairman of Board & CEO

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Janet S. Collinson

  	
   

  	
   

  	
  /s/ Chi-Foon Chan

  	
   

  
	
  Janet S. Collinson

  	
  Date

  	
   

  	
  Chi-Foon Chan,

  	
  Date

  
	
  Sr. VP, Human Resources & Facilities

  	
   

  	
   

  	
  President & COO

  	
   

  

 

* Represents specific
quantitative or qualitative performance-related factors, or factors or criteria
involving confidential commercial or business information, the disclosure of
which would have an adverse effect on the Registrant.

 

2Exhibit 10.1

 

[EXECUTION COPY]

 

	
  WACHOVIA BANK, NATIONAL

  ASSOCIATION

  WACHOVIA CAPITAL INVESTMENTS, INC.

  WACHOVIA CAPITAL MARKETS, LLC

  One Wachovia Center

  301 South College Street

  Charlotte, NC 28288

  	
   

  	
  MERRILL LYNCH CAPITAL

  CORPORATION

  Four World Financial Center

  250 Vesey Street

  New York, NY  10080

  

 

January 9, 2005

 

Movie Gallery, Inc.

900 West Main Street

Dothan, AL  36301

 

	
  Re:

  	
  Project Top Gun – Amended and Restated

  Credit Facilities Commitment Letter

  	
   

  

 

Ladies and
Gentlemen:

 

This Amended and Restated Credit Facilities
Commitment Letter amends and restates in its entirety the Credit Facilities
Commitment Letter, dated December 1, 2004, among Movie Gallery, Inc. (“you”
or the “Company”), Merrill Lynch Capital Corporation (“MLCC”),
Wachovia Bank, National Association (“WB”), Wachovia Capital
Investments, Inc. (“WCI”) and Wachovia Capital Markets, LLC (“WCM”,
and together with WB, WCI and MLCC, “we” or “us”).  References to such Credit Facilities
Commitment Letter (including such references thereto as simply the “Commitment
Letter”) made on or after the date hereof shall refer to such letter as amended
and restated hereby (as so amended and restated, this “Commitment Letter”).

 

You have delivered to us on the date hereof a
draft execution copy of the Merger Agreement (the “Merger Agreement”),
among Hollywood Entertainment Corporation (“Target”), you and TG
Holdings, Inc. (a newly-formed wholly-owned subsidiary of the Company referred
to herein as “Newco”), which Merger Agreement you have informed us you
expect will be executed and delivered by each of the parties thereto and
pursuant to which you intend, through Newco, to effect the acquisition (the “Acquisition”)
of Target and its subsidiaries, and pursuant to which Newco will be merged (the
“Merger”) with and into Target, with Target as the surviving
corporation.

 

The structure of the Acquisition and the
other transactions contemplated hereby are subject to such revisions as agreed
to by the parties hereto.  The
approximate sources and uses of the funds necessary to consummate the
Acquisition and the other transactions contemplated hereby are set forth on
Annex I to this Commitment Letter.  All
references herein to “dollars” or “$” are references to United States dollars.

 

In addition, you have advised us that in connection
with the consummation of the Acquisition, (a) Newco will raise gross cash
proceeds of not less than $475 million from either (A) the issuance of
unsecured senior notes (the “Senior Notes”) (the “Senior Note
Offering”), or (B) if the Senior Note Offering is not consummated prior to
or concurrently with the consummation of the 

 

 

Acquisition,
the draw down under an unsecured senior interim loan (the “Interim Loan”)
that would be anticipated to be refinanced with debt securities substantially
similar to the Senior Notes (the “Take-out Securities”); and
(b) Newco and/or wholly owned subsidiaries of the Company will enter into
senior secured credit facilities in the aggregate principal amount of $720
million (the “Senior Secured Credit Facilities” and, together with the
Interim Loan, the “Credit Facilities”); provided,
that the Senior Notes (or, if the Senior Note Offering is not consummated prior
to or concurrently with the consummation of the Acquisition, the Interim Loan)
will be redeemed (or the commitments in respect of the Interim Loan will be
reduced) in an amount equal to the amount of Target’s 9.625% Senior
Subordinated Notes due 2011 (the “Existing Notes”) that are not
purchased by Target pursuant to the Tender Offer described below as of the date
of consummation of the Acquisition (the “Closing Date”) or purchased by
Target pursuant to the Change of Control Offer described below.

 

In addition, you have advised us that, on the
Closing Date, Newco will use a portion of the proceeds from the Senior Note
Offering (or, if the Senior Note Offering is not consummated prior to or
concurrently with the consummation of the Acquisition, the Interim Loan) and
the Senior Secured Credit Facilities, together with cash on hand, to pay the
merger consideration to shareholders of Target and to repay, directly or
indirectly, all funded indebtedness of the Company and its Subsidiaries
(excluding capital leases and other funded indebtedness to be determined) and
terminate all commitments to make extensions of credit thereunder (the “Company
Refinancing”).  Immediately after the
consummation of the Merger, the Company will cause Target and its subsidiaries
to repay all of their respective existing indebtedness (other than Existing
Notes not tendered in the tender offer described below) and terminate all
commitments to make extensions of credit (the “Target Refinancing” and,
together with the Company Refinancing, the “Refinancing”) under their
respective existing indebtedness (the “Existing Indebtedness”).

 

In connection with the Target Refinancing,
Target will make a tender offer (the “Tender Offer”) for the Existing
Notes, together with a related consent solicitation.  In the event that less than all of the
Existing Notes have been validly tendered and not withdrawn as of the Closing
Date, Target will commence a change of control offer (the “Change of Control
Offer”) on or promptly after the Closing Date for the Existing Notes
pursuant to the terms of the indenture governing the Existing Notes.  In the event Target is required to make a
Change of Control Offer and Senior Notes are issued on the Closing Date,
proceeds from the Senior Note Offering in an amount equal to (a) the aggregate
principal amount of Existing Notes not purchased in the Tender Offer plus (b)
the aggregate principal amount of Senior Notes issued on the Closing Date minus
(c) $475 million will be deposited into an
escrow account.  On the date of
consummation of the Change of Control Offer, proceeds will be released from
escrow to fund the Change of Control Offer. 
Any such escrowed amounts not used to fund the Change of Control Offer
will be used to redeem Senior Notes.

 

The Acquisition, the Senior Note Offering (if
consummated), the Refinancing, the Tender Offer, the Change of Control Offer
(if made), the entering into and borrowings under the Credit Facilities by the
parties herein described and the other transactions contemplated hereby entered
into and consummated in connection with the Acquisition are herein referred to
as the “Transactions.”

 

You have requested that we commit to provide
the Credit Facilities to finance the Acquisition and the Refinancing and the
payment of certain related fees and expenses.

 

2

 

Accordingly, subject to the terms and conditions
set forth below, we hereby agree with you as follows:

 

1.             Commitment.  WB and MLCC, severally and not jointly, each
hereby commits to provide to Newco and/or one or more wholly owned subsidiaries
of the Company, 90% and 10%, respectively, of the principal amount of the
Senior Secured Credit Facilities, upon the terms and subject to the conditions
set forth or referred to herein, in the Amended and Restated Fee Letter (the “Fee
Letter”) dated the date hereof and delivered to you, and in the Senior
Secured Credit Facilities Summary of Terms and Conditions attached hereto (and
incorporated by reference herein) as Exhibit A (the “Senior
Secured Term Sheet”).  WB and MLCC,
with respect to their commitments to the Senior Secured Credit Facilities as
set forth in the preceding sentence, together with any successor(s) or
assignee(s) thereto as approved by you (such approval not to be unreasonably
withheld, delayed or conditioned, subject to Section 5.5 of the Merger
Agreement), are collectively referred to herein as the “Initial Senior
Secured Lenders”.  WCI and MLCC,
severally and not jointly, each hereby also commits to provide to Newco and/or
one or more wholly owned subsidiaries of the Company, 90% and 10%,
respectively, of the principal amount of the Interim Loan, upon the terms and
subject to the conditions set forth or referred to herein, in the Fee Letter
and in the Interim Loan Summary of Terms and Conditions attached hereto (and
incorporated by reference herein) as Exhibit B (the “Interim Loan
Term Sheet” and together with the Senior Secured Term Sheet, the “Term
Sheets”).  WCI and MLCC, with respect
to their commitments to the Interim Loan as set forth in the preceding
sentence, together with any successor(s) or assignee(s) thereto as approved by
you (such approval not to be unreasonably withheld, delayed or conditioned,
subject to Section 5.5 of the Merger Agreement), are collectively referred to
herein as the “Initial Interim Lenders”; and the Initial Senior Secured
Lenders and the Initial Interim Lenders are collectively referred to herein as
the “Initial Lenders”.  At the
Closing Date, any unused term loan and interim loan commitments under this
Commitment Letter in respect of the Credit Facilities will terminate
immediately after making the extensions of credit thereunder contemplated
hereby; provided, that if
the Company is required to make a Change of Control Offer, commitments to
provide the Interim Loan in an amount equal to (a) the aggregate principal
amount of the Existing Notes not purchased in the Tender Offer minus (b)
the amount of proceeds from the Senior Note Offering placed into escrow to fund
the Change of Control Offer will not be terminated on the Closing Date, but
will terminate on the date of consummation of the Change of Control Offer
immediately after making the extensions of credit thereunder.  To the extent that an underwriting or
purchase agreement is entered into in respect of the Senior Note Offering, the
commitments hereunder shall be terminated on the date of purchase of Senior
Notes thereunder in an amount equal to the expected aggregate gross proceeds
from the Senior Notes covered thereby, first, in respect of the Interim
Loan, and second, in respect of the Senior Secured Credit Facilities in
amounts among the tranches thereof as determined by us in consultation with
you.

 

2.             Syndication.  We reserve the right and intend, prior to or
after the execution of the definitive documentation for the Credit Facilities
(the “Credit Documents”), to syndicate a portion of our commitments to
one or more financial institutions (together with the Initial Lenders, the “Lenders”).  If you accept this Commitment Letter as
provided below in respect of the Senior Secured Credit Facilities, each of our
commitments hereunder in respect thereof is subject to us (or one or more of
our respective affiliates) acting in the capacities (if any) set out against
our respective names in Part B of Annex II hereto, and if you accept this
Commitment Letter as provided below in respect of the Interim Loan, each of our
commitments hereunder in respect thereof is subject to us (or one or more of

 

3

 

our respective affiliates) acting in the
capacities (if any) set out against our respective names in Part A of Annex II
hereto, including in each case any other debt financing (including any high
yield debt financing) that is consummated in connection with the
Acquisition.  The Lead Arranger (or one
or more of its affiliates) will manage all aspects of the syndication (in
consultation with you), decisions as to the selection of potential Lenders to
be approached and when they will be approached, when their commitments will be
accepted and which Lenders will participate and the final allocations of the
commitments among the Lenders (which are likely not to be pro  rata
across facilities among Lenders), and we will exclusively perform all functions
and exercise all authority as customarily performed and exercised in such
capacities, including selecting counsel for the Lenders and negotiating the
Credit Documents.  The commitments of the
Initial Senior Secured Lenders will not be reduced prior to funding of the
Senior Secured Credit Facilities by receipt, acceptance and allocation of commitments
to the Senior Secured Credit Facilities from other Lenders, and the commitments
of the Initial Interim Lenders will not be reduced prior to funding of the
Interim Loan (or the issuance of Senior Notes in lieu of such funding) by
receipt, acceptance and allocation of commitments to the Interim Loan from
other Lenders.  You agree that no other
advisors, agents, co-agents, managers or arrangers will be appointed and no
other titles or roles will be awarded in connection with the financing
transactions contemplated hereby without the Lead Arranger’s prior
consent.  You agree that no Lender will
receive compensation outside the terms contained herein and in the Fee Letter
in order to obtain its commitment to participate in the Credit Facilities.

 

You understand that the Lead Arranger intends
to commence the separate syndication of each of the Senior Secured Credit
Facilities and the Interim Loan promptly, and you agree actively to assist us
in achieving a timely syndication that is satisfactory to us.  The syndication efforts will be accomplished
by a variety of means, including direct contact during the syndication between
senior management, advisors and affiliates of the Company and Target on the one
hand and the proposed Lenders on the other hand, and the hosting by the
Company, with the Lead Arranger, of meetings with prospective Lenders at such
times and places as we may reasonably request (it being understood and agreed
that participation of Target’s senior management in any such meetings is
expected to include only those members of Target’s senior management who have
been offered and who have accepted positions of employment with the Company
and/or one or more of the Company’s subsidiaries post-Transaction (i.e., after
giving effect to the consummation of the Transactions)).  You agree, promptly upon the Lead Arranger’s
request, to (a) provide, and cause your affiliates and advisors to
provide, and use your reasonable best efforts to have Target provide, to us all
information requested by the Lead Arranger to complete successfully the syndication,
including information and projections (including updated projections)
contemplated hereby, (b) assist, and cause your affiliates and advisors to
assist, and use your reasonable best efforts to have Target assist, the Lead
Arranger in the preparation of a Confidential Information Memorandum and other
marketing materials (the contents of which you shall be solely responsible for)
to be used in connection therewith (including obtaining any necessary consents
of Target’s accountants), and (c) make available representatives of the
Company, Target and their subsidiaries and affiliates for participation in road
shows and presentations.  You also agree
to use your reasonable best efforts to ensure that our syndication efforts
benefit materially from the existing lending and investment banking
relationships of the Company (and its affiliates).

 

3.             Fees.  As consideration for our commitments
hereunder and the agreement of the Lead Arranger to arrange, manage, structure
and syndicate the Credit Facilities, you agree to pay to

 

4

 

us the fees as set forth in the Term Sheets
and in the Fee Letter to the extent that you have accepted this Commitment
Letter with respect to such Credit Facilities.

 

4.             Conditions.  Our commitments hereunder are subject to the
conditions set forth elsewhere herein, in the Term Sheets and the Fee Letter,
and are also subject to the negotiation, execution and delivery of definitive
documentation customary for facilities and transactions of the type
contemplated hereby which shall be satisfactory in all respects to us.

 

Our commitments hereunder are also subject to
the conditions that (a) no disruption or adverse change shall have
occurred and be continuing in or affecting the loan syndication or financial,
banking or capital market conditions generally from those in effect on the date
hereof that, individually or in the aggregate, in the sole judgment of the Lead
Arranger, would materially adversely affect our ability to syndicate the Credit
Facilities or the ability of the Company to effect the sale of the Take-out
Securities; and no banking moratorium shall have been declared by either
Federal or New York authorities and shall be continuing; (b) there shall not
have occurred or become known any material adverse change or any condition,
fact, event or development that has resulted or could reasonably be expected to
result in a material adverse change in the business, results of operations,
financial condition, assets, liabilities or prospects of either (i) the Company
and Target and their subsidiaries taken together as a whole (after giving pro
forma effect to the Transactions), on the one hand, or (ii) Target and its subsidiaries, taken together as a whole (before and
after giving effect to the Transactions), on the other hand (each, a “Material
Adverse Change”) since (x) in the case of the foregoing clause (b)(i),
October 3, 2004, and (y) in the case of the foregoing clause (b)(ii), September
30, 2004; (c) the Lead Arranger shall be satisfied that, after the date
hereof and prior to and during the syndication of the Credit Facilities, none
of the Company or Target or any of their respective subsidiaries or affiliates
shall have syndicated or issued, attempted to syndicate or issue, announced or
authorized the announcement of, or engaged in discussions concerning the
syndication or issuance of, any debt facility or debt security of (or other
financing by) any of them, including renewals thereof, other than the Senior
Note Offering and the Credit Facilities; (d) there shall be no material change
in the structure or terms and conditions of the Transactions, and each of the
other transactions contemplated hereby and thereby from those contemplated in
this Commitment Letter and in the draft execution copy of the Merger Agreement
(together with the schedules, exhibits and annexes thereto) you delivered to us
on the date hereof; (e) if you accept this Commitment Letter in respect of the
Interim Loan, you and WCM and Merrill Lynch, Pierce, Fenner & Smith Incorporated
(“MLPF&S”) shall have executed and delivered the Amended and
Restated Engagement Letter dated the date hereof (the “Engagement Letter”)
and such Engagement Letter shall be in full force and effect and you shall not
be in breach thereof; and (f) none of the Information and Projections (each as
defined below in Section 5 hereof) shall be misleading or incorrect in any
material respect taken as a whole, in light of the circumstances under which
such statements were made.

 

5.             Information and Investigations.  You hereby represent and covenant that (a)
all information and data (excluding financial projections) that have been or
will be made available by you or Target or any of your or Target’s respective
affiliates, representatives or advisors to any of us or any Lender (whether
prior to or on or after the date hereof), taken as a whole (the “Information”),
is and will be complete and correct in all material respects and does not and
will not, taken as a whole, contain any untrue statement of a material fact or
omit to state any material fact necessary in order to make the statements
contained therein not misleading in light of the circumstances under which such

 

5

 

statements are made, and (b) all
financial projections concerning the Company, Target and their respective
subsidiaries and the Transactions (the “Projections”) that have been
made or will be prepared by or on behalf of you or any of your affiliates,
representatives or advisors and that have been or will be made available to any
of us or any Lender (whether prior to or on or after the date hereof) have been
and will be prepared in good faith based upon assumptions believed by you to be
reasonable.  You agree that we shall be
given such access to business, financial, legal and other information regarding
the Company and Target and their respective subsidiaries as any of us shall
reasonably request including, without limitation, access to the management,
books and records, contracts and properties of the Company and Target and their
respective subsidiaries.  You agree to
supplement the Information and the Projections from time to time until the date
of consummation of the Acquisition (the “Closing Date”) and, if
requested by us, for a reasonable period thereafter necessary to complete the
syndication of the Credit Facilities, so that the representation and covenant
in the preceding sentence remain correct in all material respects (and not just
on the date that any Information is furnished). 
In arranging the Credit Facilities, including the syndication thereof,
we will be entitled to use and rely primarily on the Information and the
Projections without responsibility for independent check or verification
thereof.

 

6.             Indemnification.  You agree (i) to indemnify and hold harmless
each of the Initial Lenders, WCM, MLPF&S and each of the other Lenders and
their respective officers, directors, employees, affiliates, representatives,
advisors, agents and controlling persons and their respective successors and assigns
(each Initial Lender and each such other person being an “Indemnified Party”)
from and against any and all losses, claims, damages, costs, expenses and
liabilities, joint or several, to which any Indemnified Party may become
subject under any applicable law, or otherwise related to or arising out of or
in connection with this Commitment Letter, the Fee Letter, the Term Sheets, the
Credit Facilities, the loans under the Credit Facilities, the use of proceeds
of any such loan, any of the Transactions or any related transaction or the
performance by any Indemnified Party of the services contemplated hereby, and
will reimburse each Indemnified Party promptly upon demand for any and all
expenses (including the reasonable fees, disbursements and other charges of
counsel) as they are incurred in connection with the investigation of or
preparation for or defense of any pending or threatened claim or any action or
proceeding arising therefrom, whether or not such Indemnified Party is a party
and whether or not such claim, action or proceeding is initiated or brought by
or on behalf of you, Target or any of your or their respective affiliates, or
any other person or entity, and whether or not any of the Transactions are
consummated or this Commitment Letter is terminated, except to the extent found
in a final non-appealable judgment by a court of competent jurisdiction to have
resulted primarily from such Indemnified Party’s bad faith, gross negligence or
willful misconduct; provided, that, you shall not be liable for the fees
and expenses of more than one counsel (together with appropriate local counsel)
at any time for all Indemnified Parties in connection with any one action or
separate but substantially similar or related actions arising in the same
jurisdiction out of the same general allegations or circumstances, and (ii) not
to assert any claim against any Indemnified Party for consequential, punitive
or exemplary damages on any theory of liability in connection in any way with
the transactions described in or contemplated by this Commitment Letter and the
Fee Letter.  No Indemnified Party shall
be liable for any damages arising from the use by others of Information or
other materials obtained through electronic, telecommunications or other
information transmission systems.

 

6

 

You agree that, without our prior written
consent, neither you nor any of your affiliates or subsidiaries will settle,
compromise or consent to the entry of any judgment in any pending or threatened
claim, action or proceeding in respect of which indemnification has been or
could be sought under the indemnification provisions hereof (whether or not any
Indemnified Party is an actual or potential party to such claim, action or
proceeding), unless such settlement, compromise or consent (i) includes an
unconditional written release in form and substance satisfactory to the
Indemnified Parties of each Indemnified Party from all liability arising out of
or related to such claim, action or proceeding and (ii) does not include
any statement as to or an admission of fault, culpability or failure to act by
or on behalf of any Indemnified Party. 
Conversely, you shall not be liable under this Commitment Letter for any
settlement of any claim or proceeding made by an Indemnified Party without your
prior written consent (not to be unreasonably withheld, conditioned or
delayed).

 

In the event that an Indemnified Party is
requested or required to appear as a witness or deponent in any action brought
by or on behalf of or against you, Target or any of your or Target’s respective
subsidiaries or affiliates in which such Indemnified Party is not named as a
defendant, you agree to reimburse such Indemnified Party for all expenses
incurred by it in connection with such Indemnified Party’s appearing and
preparing to appear as such a witness or a deponent, including, without
limitation, the reasonable fees and expenses of its legal counsel.

 

7.             Expenses.  In addition to any fees that may become
payable to us under the Fee Letter, the Company agrees to reimburse each of us
and our respective affiliates, upon our request made from time to time, for our
and their out-of-pocket expenses including, without limitation, all reasonable
due diligence expenses, fees of consultants engaged with your consent (not to
be unreasonably withheld), syndication expenses (including the costs of
printing, distribution and bank meetings), appraisal and valuation fees and
expenses, travel expenses, duplication fees and expenses, audit fees, search
fees, filing and recording fees, disbursements and other charges and the
reasonable fees, disbursements and other charges of counsel (and any local
counsel), and any sales, use or similar taxes (and any additions to such taxes)
related to any of the foregoing) incurred in connection with the Transactions,
and the negotiation, preparation, execution and delivery, waiver or
modification, and collection and enforcement of this Commitment Letter, the
Term Sheets, the Fee Letter, the Credit Documents and the security arrangements
in connection therewith, and/or any documents relating to any offering of the
Take-Out Securities, whether or not such fees and expenses are incurred
before or after the date hereof or the Transactions contemplated by this
Commitment Letter are consummated or any loan documentation is entered
into or any extension of credit is made under the Credit Facilities or this
Commitment Letter is terminated or expires; provided, however,
that the Company shall be obligated to reimburse the legal fees, disbursements
and other charges for only one principal outside law firm engaged by us.

 

8.             Confidentiality.  This Commitment Letter, the Term Sheets and
the Fee Letter, the contents of any of the foregoing, and our and/or our
respective affiliates’ activities pursuant hereto or thereto, are confidential
and shall not be disclosed by or on behalf of you or any of your affiliates to
any person without our prior written consent, except that you may disclose this
Commitment Letter and the Term Sheets (but not the Fee Letter or any matter
related to any information in the Fee Letter) (i) to your and Target’s
officers, directors, employees and advisors, and then only in connection with
the Transactions and on a confidential and need-to-know basis, and (ii) as you
are required to make by applicable law or compulsory legal process (based on
the advice of legal 

 

7

 

counsel); provided, however, that if
disclosure is required by compulsory legal process you agree to give us prompt
notice thereof and to cooperate with us in securing a protective order and that
any disclosure made pursuant to public filings shall be subject to our prior
approval.  You agree that you will permit
us to review and approve (such approval not to be unreasonably withheld) any
reference to us or any of our respective affiliates in connection with the
Credit Facilities or the transactions contemplated hereby contained in any
press release or similar public disclosure prior to public release.  You agree that we and our respective
affiliates may share information concerning you, Target and your and Target’s
respective subsidiaries and affiliates among ourselves in connection with the
performance of our services hereunder and as contemplated in connection
herewith and the evaluation and consummation of financings and transactions
contemplated hereby.  Further, we shall
be permitted to use information related to the syndication and arrangement of
the Credit Facilities in connection with marketing, press releases or other
transactional announcements or updates provided to investor or trade
publications, subject to confidentiality obligations or disclosure restrictions
reasonably requested by you.  Furthermore,
we hereby notify you that pursuant to the requirements of the USA Patriot Act,
Title III of Pub. L. 107-56 (signed into law October 26, 2001) (the “Patriot
Act”), each of us is required to obtain, verify and record information that
identifies you in accordance with the Patriot Act.

 

9.             Termination.  Each of our several commitments hereunder is
based upon the accuracy and completeness of the financial and other information
regarding the Company, Target and your and Target’s respective subsidiaries and
the Transactions previously provided to us. 
In the event that (a) by means of continuing review or otherwise we
become aware of or discover new information or developments concerning
conditions or events previously disclosed to us that is inconsistent in any
material adverse respect with the Projections or the Information provided to us
prior to the date hereof, or if any condition, fact, event or development shall
have occurred or become known that in the Lead Arranger’s judgment has resulted
in or could reasonably be expected to have or result in a Material Adverse
Change or (b) the Merger Agreement is terminated or expires or the effort to
acquire Target is abandoned, this Commitment Letter and our commitments
hereunder shall terminate.  In addition,
each of our commitments hereunder shall terminate in its entirety upon the
earlier of (i) May 1, 2005, if the Credit Documents have not been executed and
delivered by the Company and the Lenders by such date, unless the Credit
Documents have not been executed and delivered by such date due solely to a
delay in obtaining the requisite approvals for consummation of the Acquisition
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, or
clearance by the SEC of Target’s proxy statement with respect to the Merger as
contemplated by the provisions of the Merger Agreement, in which case, June 30,
2005, and (ii) the initial funding under the Credit Documents.  Notwithstanding the foregoing, the provisions
of Sections 3, 5, 6, 7, 8, 11, 12 and 14 hereof shall survive any termination
pursuant to this Section 9.

 

10.           Assignment; etc.  This Commitment Letter and each of our
commitments hereunder shall not be assignable by any party hereto (other than
by each of us to our respective affiliates) without the prior written consent
of the other parties hereto (such consent not to be unreasonably withheld,
delayed or conditioned), and any attempted assignment shall be void and of no
effect; provided, however, that nothing contained in this Section
10 shall prohibit us (in our sole discretion) from performing any of our duties
hereunder through any of our branches or affiliates, and you will owe any
related duties (including those set forth in Section 2 above) to any such
branch or affiliate.  This Commitment
Letter is intended to be solely for the benefit of, and is not intended to 

 

8

 

confer any benefits upon or create any rights
in favor of any person other than, the parties hereto, the Lenders and, with
respect to the indemnification provided for herein, each of the Indemnified
Parties.

 

11.           Governing Law; Waiver of Jury
Trial.  This Commitment Letter shall
be governed by, and construed in accordance with, the laws of the State of New
York (without regard to any principles of conflict of laws thereof to the
extent the same are not mandatorily applicable by statute and would require or
permit the application of the laws of another jurisdiction).  Each of the parties hereto waives all right
to trial by jury in any action, proceeding or counterclaim (whether based upon
contract, tort or otherwise) related to or arising out of or in connection with
this Commitment Letter, the Fee Letter, the Term Sheets, the Credit Facilities,
the loans under the Credit Facilities, the use of proceeds of any such loan, any
of the Transactions or any related transaction or the performance by us or any
of our respective affiliates of the services contemplated hereby.

 

12.           Amendments; Counterparts; etc.  No
amendment or waiver of any provision hereof or of the Term Sheets or of the Fee
Letter shall be effective unless in writing and signed by the parties hereto
and then only in the specific instance and for the specific purpose for which
given.  This Commitment Letter, the
Engagement Letter, the Term Sheets and the Fee Letter are the only agreements
between the parties hereto with respect to the matters contemplated hereby and
thereby and set forth the entire understanding of the parties with respect
thereto.  This Commitment Letter 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 taken together shall constitute one and the same
agreement.  Delivery of an executed
counterpart by telecopier shall be effective as delivery of a manually executed
counterpart.

 

13.           Public Announcements; Notices.  We may, at our expense, publicly announce as
we may choose the capacities in which we or our respective affiliates have
acted hereunder.  Any notice given pursuant
hereto shall be mailed or hand delivered in writing (i) to you, addressed
to Joe Malugen, the Chief Executive Officer of the Company, at your address set
forth on page one hereof, with a copy to S. Page Todd, General Counsel, at the
same address, and such persons as you may designate in writing; (ii) to WB, WCI
and WCM, at One Wachovia Center, 301 South College Street, Charlotte, North
Carolina  28288-0737, attention:  Fritz Bentien; (iii) to MLCC and
MLPF&S, at Four World Financial Center, 250 Vesey Street, New York,
New York  10080, attention:  High Yield Capital Markets; and, in the case
of (ii) and (iii), with a copy to Mayer, Brown, Rowe & Maw LLP, 1675
Broadway, New York, New York 10019, attention: Sal Guerrera/Jin K. Kim/Benjamin
W. Lau.

 

14.           Submission to Jurisdiction.  Each of the parties hereto hereby irrevocably
and unconditionally (a) submits, for itself and its property, to the
non-exclusive jurisdiction of any New York State court or Federal court of
the United States of America sitting in New York City, and any appellate
court from any thereof, in any action or proceeding arising out of or relating
to this Commitment Letter or the transactions contemplated hereby, or for
recognition or enforcement of any judgment, and agrees that all claims in
respect of any such action or proceeding may be heard and determined in such
New York State or, to the extent permitted by law, in such Federal court,
(b) waives, to the fullest extent it may legally and effectively do so,
any objection which it may now or hereafter have to the laying of venue of any
suit, action or proceeding arising out of or relating to this Commitment Letter
or the transactions contemplated hereby in any New York State or in any
such

 

9

 

Federal court and (c) waives, to the fullest
extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

 

15.           Acknowledgement.  By signing this Commitment Letter, each of
the parties hereto hereby acknowledges and agrees that (a) WB and MLCC are
offering to provide the Senior Secured Credit Facilities separate and apart
from WCI’s and MLCC’s offer to provide the Interim Loan and (b) WCI and MLCC
are offering to provide the Interim Loan separate and apart from WB’s and MLCC’s
offer to provide the Senior Secured Credit Facilities.

 

Please confirm that the foregoing correctly
sets forth our agreement of the terms hereof and the Fee Letter by signing and
returning to each of us the duplicate copy of this letter and the Fee Letter
enclosed herewith.  Unless we receive
your executed duplicate copies hereof and thereof by 11:59 p.m., New York City
time, on the date hereof, each of our commitments hereunder will expire at such
time.

 

 

(Signature
Pages Follow)

 

10

 

We are pleased to have this opportunity and
we look forward to working with you on this transaction.

 

	
   

  	
  Very truly
  yours,

  
	
   

  	
   

  
	
   

  	
  WACHOVIA
  BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ David Haase

  	
   

  
	
   

  	
   

  	
  Name:

  	
  David Haase

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WACHOVIA
  CAPITAL INVESTMENTS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ David
  Haase

  	
   

  
	
   

  	
   

  	
  Name:

  	
  David Haase

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WACHOVIA
  CAPITAL MARKETS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ David
  Haase

  	
   

  
	
   

  	
   

  	
  Name:

  	
  David Haase

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MERRILL
  LYNCH CAPITAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ William
  H. Gates

  	
   

  
	
   

  	
   

  	
  Name:

  	
  William H.
  Gates

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

 

	
  The
  provisions of this Commitment Letter

  	
   

  
	
  with respect
  to the Senior Secured

  	
   

  
	
  Credit
  Facilities are agreed to and

  	
   

  
	
  accepted as
  of the date first written above:

  	
   

  
	
   

  	
   

  
	
  MOVIE
  GALLERY, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ S. Page
  Todd

  	
   

  	
   

  
	
   

  	
  Name:  S. Page Todd

  	
   

  
	
   

  	
  Title:  Executive Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  The
  provisions of this Commitment Letter

  	
   

  
	
  with respect
  to the Interim Loan are

  	
   

  
	
  agreed to
  and accepted as of the

  	
   

  
	
  date first
  written above:

  	
   

  
	
   

  	
   

  
	
  MOVIE
  GALLERY, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ S. Page
  Todd

  	
   

  	
   

  
	
   

  	
  Name:  S. Page Todd

  	
   

  
	
   

  	
  Title:  Executive Vice President

  	
   

  

 

 

ANNEX I

 

Sources and Uses of Funds

(in U.S.$ in millions)

 

Sources

 

	
  Cash

  	
   

  	
  $

  	
   175.0

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Revolving Facility

  	
   

  	
  $

  	
   0.1

  	
  (1)

  
	
   

  	
   

  	
   

  	
   

  
	
  Term Loan A Facility

  	
   

  	
  $

  	
   95.0

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Term Loan B Facility

  	
   

  	
  $

  	
   550.0

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Senior Notes or Interim Loan

  	
   

  	
  $

  	
   475.0

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total Sources

  	
   

  	
  $

  	
   1,295.1

  	
   

  

 

Uses

 

	
  Cash
  Purchase Price of Target

  	
   

  	
  $

  	
  852.4

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Refinancing
  of Existing Indebtedness (including premium)

  	
   

  	
  $

  	
  356.4

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Financing
  and M&A Fees

  	
   

  	
  $

  	
  41.3

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Transaction
  Expenses, Severance Costs, Other Restructuring Charges

  	
   

  	
  $

  	
  45.0

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total Uses

  	
   

  	
  $

  	
  1,295.1

  	
   

  

 

(1)          No more than a maximum amount to be mutually
agreed upon by the Company and the Lead Arranger of the $75 million Revolving
Facility will be drawn down at the Closing Date to fund consummation of the
Transactions.

 

 

ANNEX II

 

Appointments

 

PART A

 

Interim
Loan

 

	
  Lead
  Arranger:

  	
  Wachovia
  Capital Markets, LLC shall be the sole and exclusive lead arranger for the
  Interim Loan

  
	
   

  	
   

  
	
  Book Runner:

  	
  Wachovia
  Capital Markets, LLC shall be the sole and exclusive book runner for the
  Interim Loan

  
	
   

  	
   

  
	
  Administrative Agent:

  	
  Wachovia
  Bank, National Association

  
	
   

  	
   

  
	
  Syndication Agent:

  	
  To be
  determined

  
	
   

  	
   

  
	
  Documentation Agent:

  	
  To be
  determined

  

 

Senior
Note Offering

 

	
  Lead
  Manager:

  	
  Wachovia
  Capital Markets, LLC shall be the sole and exclusive lead manager for the
  Senior Note Offering

  
	
   

  	
   

  
	
  Book Runner:

  	
  Wachovia
  Capital Markets, LLC shall be the sole and exclusive book runner for the
  Senior Note Offering

  

 

Tender
Offer

 

	
  Dealer Manager:

  	
  Wachovia
  Capital Markets, LLC

  

 

PART B

 

Senior
Secured Credit Facilities

 

	
  Lead Arranger:

  	
  Wachovia
  Capital Markets, LLC shall be the sole and exclusive lead arranger for the
  Senior Secured Credit Facilities

  
	
   

  	
   

  
	
  Book Runner:

  	
  Wachovia
  Capital Markets, LLC shall be the sole and exclusive book runner for the
  Senior Secured Credit Facilities

  

 

 

	
  Administrative Agent:

  	
  Wachovia
  Bank, National Association

  
	
   

  	
   

  
	
  Syndication Agent:

  	
  To be
  determined

  
	
   

  	
   

  
	
  Documentation Agent:

  	
  To be
  determined

  

 

2

EXHIBIT A

 

SENIOR SECURED CREDIT FACILITIES

SUMMARY OF TERMS AND CONDITIONS*

	
  Borrower:

  	
   

  	
  “Borrower”
  means Newco and/or one or more other wholly owned subsidiaries of Movie
  Gallery, Inc. (“MGI”). Immediately after the initial borrowing under
  the Senior Secured Credit Facilities (defined below), Newco will be merged
  with and into Target, with Target as the surviving corporation, and Target
  will assume all obligations of Newco.

  
	
   

  	
   

  	
   

  
	
  Sole and
  Exclusive Book Runner and Sole and Exclusive Lead Arranger:

  	
   

  	
  “Lead
  Arranger” and “Book Runner” shall have the meanings set forth in Annex
  II to the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
  Lenders:

  	
   

  	
  Each of
  Wachovia Bank, National Association (“WB”) and Merrill Lynch Capital
  Corporation (“MLCC”) or one of their respective affiliates
  (collectively, and together with any successor(s) or assignee(s) thereto as
  approved by MGI in accordance with Section 1 of the Commitment Letter, the “Initial
  Senior Secured Lenders”) and a syndicate of financial institutions
  (collectively with the Initial Senior Secured Lenders, the “Lenders”)
  arranged by the Lead Arranger in consultation with Borrower.

  
	
   

  	
   

  	
   

  
	
  Administrative
  Agent:

  	
   

  	
  As set
  forth in Annex II to the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
  Syndication
  Agent:

  	
   

  	
  As set
  forth in Annex II to the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
  Documentation
  Agent:

  	
   

  	
  As set
  forth in Annex II to the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
  Senior
  Secured Credit Facilities:

  	
   

  	
  Senior
  secured credit facilities (the “Senior Secured Credit Facilities”) in
  an aggregate principal amount of $720 million to be made available to
  Borrower, such Senior Secured Credit Facilities comprising:

  
	
   

  	
   

  	
   

  
	
  (A)

  	
   

  	
  Term Loan
  Facilities. Term loan facilities in an aggregate
  principal amount of up to $645 million comprising (a) a term loan A facility
  in an aggregate principal amount of up to $95 million (the “Term Loan A
  Facility”) and (b) a term loan B facility in an aggregate principal
  amount of up to $550 million (the “Term Loan B Facility” and together
  with the Term Loan A Facility, the “Term Loan Facilities”). Loans under the
  Term Loan Facilities are herein referred to as “Term Loans.”

  
	
   

  	
   

  	
   

  
	
  (B)

  	
   

  	
  Revolving Credit
  Facility. A revolving credit facility in an
  aggregate principal amount of $75 million (the “Revolving

  

 

*              Capitalized
terms used herein and not defined shall have the meanings assigned to such
terms in the Amended and Restated Credit Facilities Commitment Letter (the “Commitment
Letter”) to which this Exhibit A is attached.

 

A-1

 

	
   

  	
   

  	
  Facility”).
  Loans under the Revolving Facility are herein referred to as “Revolving
  Loans”; the Term Loans and the Revolving Loans are herein referred to
  collectively as “Loans.” Up to an amount to be agreed of the Revolving
  Facility will be available as a letter of credit subfacility. Up to an amount
  to be agreed of the Revolving Facility will be available as a swingline
  subfacility.

  
	
   

  	
   

  	
   

  
	
  Documentation:

  	
   

  	
  Usual for
  facilities and transactions of this type and reasonably acceptable to
  Borrower and the Initial Senior Secured Lenders. The documentation for the Senior Secured Credit Facilities will
  include, among others, a credit agreement (the “Credit Agreement”),
  guarantees and appropriate pledge, security interest, mortgage, deposit
  account and other collateral documents (collectively, the “Senior Credit
  Documents”). Borrower and each Guarantor (as defined below under “Guarantors”)
  are herein referred to as the “Credit Parties” and individually
  referred to as a “Credit Party.”

  
	
   

  	
   

  	
   

  
	
  Transactions:

  	
   

  	
  As
  described in the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
  Availability/Purpose:

  	
  (A)

  	
   

  	
  Term Loan
  Facilities. Term Loans will be available, subject to
  the terms and conditions set forth in the Senior Credit Documents, in a
  single draw on the date of the consummation of the Acquisition to finance the
  Acquisition and the Refinancing and to pay related fees and expenses. Amounts
  borrowed under the Term Loan Facilities that are repaid or prepaid may not be
  reborrowed.

  
	
   

  	
   

  	
   

  
	
  (B)

  	
   

  	
  Revolving
  Facility. The entire Revolving Facility will be
  available, subject to the terms and conditions set forth in the Senior Credit
  Documents, for working capital and general corporate purposes after the
  Closing Date until the date which is 5 years after the Closing Date (the “Revolving
  Loan Maturity Date”). Letters of credit will be used by the Borrower
  solely for general corporate purposes. In addition, (a) up to a maximum amount
  to be mutually agreed upon in aggregate principal amount of the Revolving
  Facility may be drawn on the Closing Date to fund consummation of the
  Transactions and (b) up to an amount to be agreed in letters of credit may be
  issued under the Revolving Credit Facility to replace existing letters of
  credit or for other specified general corporate purposes to be agreed.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Total
  extensions of credit under the Revolving Facility shall not at any time
  exceed the commitments thereunder then in effect. Revolving Loans may,
  subject to the terms and conditions set forth in the Senior Credit Documents,
  be reborrowed to the extent of the commitments under the Revolving Facility
  then in effect.

  
	
   

  	
   

  	
   

  
	
  Increase in
  Revolving Facility:

  	
   

  	
  After the
  Closing Date, the Borrower may request that the Revolving Facility be
  increased in an amount up to $25 million, at times and subject to terms and
  conditions to be mutually agreed upon; provided, that all Lenders under the
  Revolving Facility shall

  
				

 

A-2

 

	
   

  	
   

  	
  be granted a
  right of first offer to participate in such increase on a pro  rata
  basis (in accordance with their then existing commitments), but no Lender
  shall be required to provide all or any portion of such increase. To the
  extent such Lenders are unwilling to provide the full amount of such increase
  requested by the Borrower, the Lead Arranger will have the sole right, upon
  terms and conditions to be mutually agreed upon, to syndicate the balance of
  such requested increase to prospective lenders (other than the Lenders)
  reasonably satisfactory to the Borrower. Consent of the Lenders shall not be
  required for any such increase of the Revolving Facility.

  
	
   

  	
   

  	
   

  
	
  Guarantors:

  	
   

  	
  MGI and
  each of the direct and indirect subsidiaries of MGI existing on the Closing
  Date (after giving effect to the Transactions) or thereafter created or
  acquired (other than any foreign subsidiary where the granting of such
  guarantee would have an adverse tax consequence for such subsidiary or MGI), shall unconditionally guarantee, on a joint and several basis, all
  obligations of Borrower under the Senior Secured Credit Facilities and (to
  the extent relating to the Loans) under each interest rate protection
  agreement entered into with a Lender or an affiliate of a Lender. Each
  guarantor of any of the Senior Secured Credit Facilities is herein referred
  to as a “Guarantor” and its guarantee is referred to herein as a “Guarantee.”

  
	
   

  	
   

  	
   

  
	
  Security:

  	
   

  	
  The Senior
  Secured Credit Facilities, the Guarantees, and (to the extent relating to the
  Loans) the obligations of Borrower under each interest rate protection
  agreement, foreign exchange agreement and currency hedging agreement entered
  into with a Lender or an affiliate of a Lender will be secured by (A) a
  perfected first priority lien on and security interest in, and pledge of, all
  of the capital stock and intercompany notes of Borrower and each of the other
  direct and indirect subsidiaries of MGI existing on the Closing Date (after
  giving effect to the Transactions) or thereafter created or acquired (other
  than in the case of foreign subsidiaries which are not Guarantors, in which
  case no more than 662/3 of the capital stock of such
  foreign subsidiary shall be pledged); and (B) a perfected first priority lien
  on, and security interest in, all of the tangible and intangible properties
  and assets (including all cash, cash equivalents, contract rights (including
  under partnership agreements, management agreements, operating agreements,
  affiliation agreements and similar agreements), inventory, real property
  interests, intellectual property, trade names, equipment, receivables and
  proceeds of the foregoing) of each Credit Party (collectively, the “Collateral”),
  except for those properties and assets for which the Initial
  Senior Secured Lenders shall determine in their sole
  discretion that the costs of obtaining such security interest are excessive
  in relation to the value of the security to be afforded thereby or as
  otherwise agreed to between the parties (it being understood that none of the
  foregoing shall be subject to any other liens or security interests, except
  for certain

  

 

A-3

 

	
   

  	
   

  	
  customary
  exceptions to be agreed upon). The determination as to which real property
  and leasehold interests will be subject to such liens and security interests
  will be determined by the Initial Senior Secured Lenders upon review of the value of such subject properties and leases and the
  cost of obtaining such liens. All such security interests will be created
  pursuant to documentation reasonably satisfactory in all material respects to
  the Initial Senior Secured Lenders and on
  the Closing Date such security interests shall have become perfected and the Initial
  Senior Secured Lenders shall have received reasonably
  satisfactory evidence as to the enforceability and priority thereof.

  
	
   

  	
   

  	
   

  
	
  Termination
  of Commitments:

  	
   

  	
  The
  commitments in respect of the Senior Secured Credit Facilities (including
  pursuant to the Commitment Letter) will terminate in their entirety on May 1,
  2005 if the initial funding under the Senior Secured Credit Facilities does
  not occur on or prior to such date, unless the initial funding
  has not occurred by such date due solely to a delay in obtaining the
  requisite approvals for consummation of the Acquisition under the
  Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR
  Act”), or clearance by the SEC of Target’s proxy statement with respect
  to the Merger as contemplated by the provisions of the Merger Agreement, in which
  case, such commitments will terminate in their entirety on June 30, 2005.

  
	
   

  	
   

  	
   

  
	
  Final
  Maturity:

  	
  (A)

  	
   

  	
  Term Loan
  Facilities. The Term Loan A Facility will mature on
  the date 5 years after the Closing Date. The Term Loan B Facility will mature
  on the earlier of (a) the date 6 years after the Closing Date and (b) the
  date which is 91 days prior to the maturity date of the Existing Notes (if
  any remain outstanding after giving effect to the Transactions consummated on
  the Closing Date).

  
	
   

  	
   

  	
   

  
	
  (B)

  	
   

  	
  Revolving Facility.
  The Revolving Facility will mature on the date 5 years after the Closing
  Date.

  
	
   

  	
   

  	
   

  
	
  Reduction
  and Amortization Schedule:

  	
   

  	
  Amortization
  of the Term Loan Facilities will be determined by the Lead Arranger and the
  Borrower in a mutually agreeable manner.

  
	
   

  	
   

  	
   

  
	
  Letters of
  Credit:

  	
   

  	
  Letters of
  credit under the Revolving Facility (“Letters of Credit”) will be
  issued by a Lender selected by the Administrative Agent and reasonably
  satisfactory to the Borrower (in such capacity, the “L/C Lender”). The
  issuance of all Letters of Credit shall be subject to the customary procedure
  of the L/C Lender.

  
	
   

  	
   

  	
   

  
	
  Letter of
  Credit Fees:

  	
   

  	
  Letter of
  Credit fees will be payable for the account of the Revolving Facility Lenders
  on the daily average undrawn face amount of each Letter of Credit at a rate per
  annum equal to the applicable margin for Revolving Loans which are
  LIBO rate loans in effect at such time, which fees shall be paid quarterly in
  arrears. In addition, an issuing fee on the face amount of each Letter of

  
				

 

A-4

 

	
   

  	
   

  	
  Credit
  equal to 0.125% per  annum shall be payable to the L/C Lender for its
  own account, which fee shall also be paid upon issuance.

  
	
   

  	
   

  	
   

  
	
  Interest
  Rates and Fees:

  	
   

  	
  Interest
  rates and fees in connection with the Senior Secured Credit Facilities will
  be as specified on Annex I attached hereto.

  
	
   

  	
   

  	
   

  
	
  Default
  Rate:

  	
   

  	
  During the
  continuance of any Default under the Credit Documents, all obligations under
  the Senior Credit Documents shall bear interest at the applicable interest
  rate (including the applicable margin) plus 2.00% per  annum.

  
	
   

  	
   

  	
   

  
	
  Mandatory
  Prepayments/ Reductions in Commitments:

  	
   

  	
  Subject to
  the next paragraph, Loans under the Credit Facilities shall be prepaid with
  (a) 75% of Excess Cash Flow (to be defined in a mutually satisfactory
  manner), with a step down to 50% of Excess Cash Flow upon achievement of and
  during the maintenance of a Leverage Ratio (to be defined in a mutually
  satisfactory manner) of 2.50 to 1.00 or lower, and with a further step down
  to zero upon achievement of and during the maintenance of a Leverage Ratio
  (as so defined) of 2.00 to 1.00 or lower, (b) 100% of the net cash proceeds
  (which term shall mean net of any applicable taxes) above an annual amount to
  be agreed upon of all non-ordinary-course asset sales or other dispositions
  of property or recoveries by any of the Credit Parties and their subsidiaries
  (including insurance and condemnation proceeds in excess of an agreed
  amount), subject to the right to reinvest within 12 months and subject to
  certain exceptions to be agreed, (c) 100% of the net proceeds of issuances of
  debt obligations of any of the Credit Parties and their respective
  subsidiaries other than debt permitted to be incurred under the Credit
  Agreement, (d) 50% of the net proceeds of issuances of equity of MGI, subject
  to certain exceptions to be agreed upon and with step downs based upon
  achievement of a reduced Leverage Ratio to be negotiated, and
  (e) 100% of any amount received in excess of an amount to be agreed in
  respect of any claim under the Merger Agreement or as direct or indirect
  result of any breach of any term or provision of the Merger Agreement or
  otherwise in respect of any claim by any of the Credit Parties or any of
  their respective subsidiaries arising out of the Acquisition.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The
  proceeds of the Senior Notes shall be applied to reduce the commitments in
  respect of or, if after the Closing Date, to reduce the funded amount of the
  Interim Loan.

  
	
   

  	
   

  	
   

  
	
  Voluntary
  Prepayments/ Reductions in Commitments:

  	
  (A)

  	
   

  	
  Term Loan
  Facilities. Borrowings under the Term Loan
  Facilities may be prepaid at any time in whole or in part at the option of
  Borrower, in a minimum principal amount and in multiples to be agreed upon
  without premium or penalty (subject, in the case of LIBOR borrowings, to
  payment of LIBOR breakage costs arising from prepayments not made on the last
  day of the relevant interest period). Voluntary prepayments of Term Loans
  will be applied in

  
				

 

A-5

 

	
   

  	
   

  	
   

  	
  inverse
  order of maturity to the remaining scheduled amortization payments in respect
  thereof.

  
	
   

  	
   

  	
   

  
	
  (B)

  	
   

  	
  Revolving
  Facility. The unutilized portion of the commitments
  under the Revolving Facility may be reduced and loans under the Revolving
  Facility may be repaid at any time, in each case, at the option of Borrower,
  in a minimum principal amount and in multiples to be agreed upon, without
  premium or penalty (subject, in the case of LIBOR borrowings, to payment of
  LIBOR breakage costs arising from prepayments not made on the last day of the
  relevant interest period).

  
	
   

  	
   

  	
   

  
	
  Conditions
  to Effectiveness and to Initial Loans:

  	
   

  	
  The
  effectiveness of the Credit Agreement and the making of the initial credit
  extensions under the Senior Secured Credit Facilities shall be subject to the
  conditions precedent specified herein and in the Commitment Letter (all such
  conditions to be satisfied in a manner reasonably satisfactory in all
  material respects to the Initial Senior Secured Lenders, including, but not limited to, execution and delivery of the Senior
  Credit Documents reasonably acceptable in form and substance to the Initial
  Senior Secured Lenders by each Credit Party thereto
  prior to the Closing Date; delivery of reasonably satisfactory borrowing
  certificates and other customary closing certificates; receipt of valid
  security interests as contemplated hereby; absence of defaults, prepayment
  events or creation of liens under debt instruments (including, without
  limitation, to the extent any Existing Notes remain outstanding on the
  Closing Date, the indenture governing the Existing Notes, other than the
  requirement to offer to redeem the Existing Notes following the change of
  control that would be effected by the Acquisition) or other agreements as a
  result of the transactions contemplated hereby; absence of litigation (other
  than litigation that would not constitute a Material Adverse Change);
  evidence of authority; compliance with applicable laws and regulations
  (including but not limited to ERISA, margin regulations, bank regulatory
  limitations and environmental laws); delivery of reasonably satisfactory
  legal opinions; and adequate insurance.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The making
  of the initial credit extensions under the Senior Secured Credit Facilities
  will be subject the following conditions:

  
	
   

  	
   

  	
   

  
	
  (A)

  	
   

  	
  The
  delivery, on or prior to the Closing Date, of a certificate from the chief
  financial officer of MGI in form and substance reasonably satisfactory to the
  Initial Senior Secured Lenders with respect to the solvency of MGI and its
  subsidiaries immediately after the consummation of the Transactions to occur
  on the Closing Date.

  
	
   

  	
   

  	
   

  
	
  (B)

  	
   

  	
  Either (i)
  the Senior Note Offering shall have been consummated for gross proceeds of
  not less than $475 million minus the aggregate principal amount of Existing
  Notes not purchased in the Tender Offer, or (ii) the drawdown of the Interim
  Loan shall be

  

 

A-6

 

	
   

  	
   

  	
  consummated
  for gross proceeds of not less than $475 million minus (1) any
  gross proceeds from the Senior Note Offering and (2) the aggregate
  principal amount of Existing Notes not purchased in the Tender Offer) in each
  case pursuant to agreements in form and substance reasonably satisfactory to
  the Initial Senior Secured Lenders.

  
	
   

  	
   

  	
   

  
	
  (C)

  	
   

  	
  Simultaneously
  with (or immediately following) the making of the initial Loans, the
  Acquisition shall have been consummated in all material respects in
  accordance with the terms of the draft execution copy of the Merger Agreement
  delivered to the Initial Senior Secured Lenders on January 9, 2005 (without
  the waiver or amendment of any material condition or any change in monetary
  terms unless consented to by the Initial Senior Secured Lenders, which
  consent shall not be unreasonably withheld) and in accordance with the terms
  described in, and as contemplated by, the Commitment Letter (other than such
  changes therefrom which could not reasonably be expected to be materially
  adverse to the Lenders). Each of the parties thereto shall have complied in
  all material respects with all covenants set forth in the Merger Agreement to
  be complied with by it on or prior to the Closing Date (without the waiver or
  amendment of any of the material terms thereof unless consented to by the
  Initial Senior Secured Lenders, which consent shall not be unreasonably
  withheld).

  
	
   

  	
   

  	
   

  
	
  (D)

  	
   

  	
  All liens in
  respect of the Existing Indebtedness shall have been released and the
  Administrative Agent shall have received evidence thereof reasonably
  satisfactory to the Administrative Agent and a “pay-off” letter or letters
  reasonably satisfactory to the Administrative Agent with respect to the
  Existing Indebtedness. After giving effect to the Transactions and the other
  transactions contemplated hereby, MGI, Target and their respective
  subsidiaries shall have outstanding no indebtedness or preferred stock (or
  direct or indirect guarantee or other credit support in respect thereof)
  other than the loans under the Credit Facilities, the Senior Notes, Existing
  Notes not purchased pursuant to the Tender Offer or Change of Control Offer and such other debt and preferred stock in an amount
  acceptable to the Initial Senior Secured Lenders and for which arrangements
  reasonably satisfactory to the Initial Senior Secured Lenders have been made.
  In the event the Tender Offer is consummated on or prior to the Closing Date,
  the Tender Offer shall have been consummated in all material respects on
  terms and conditions and pursuant to documentation reasonably satisfactory to
  the Initial Senior Secured Lenders.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The
  capitalization and tax structure of MGI, Target and their respective
  subsidiaries (after giving effect to the Transactions) shall be as set forth
  in the Commitment Letter (and the annexes and exhibits thereto) and in the
  written information provided to the Initial Senior Secured Lenders on or
  prior to the date of the Commitment Letter with any material changes to such

  

 

A-7

 

	
   

  	
   

  	
  capitalization
  or tax structure subject to the approval of the Initial Senior Secured
  Lenders.

  
	
   

  	
   

  	
   

  
	
  (E)

  	
   

  	
  There shall
  not have occurred or become known any material adverse change or any
  condition, fact, event or development that has resulted or could reasonably
  be expected to result in a material adverse change in the business, results
  of operations, or financial condition, assets, liabilities or prospects of
  (i) MGI and Target and their subsidiaries taken together as a whole
  (after giving pro forma effect to the Transactions), on the one hand, or
  (ii) Target and its subsidiaries taken together as a whole (before and
  after giving effect to the Transactions), on the other hand (each, a “Material
  Adverse Change”) since (x) in the case of the foregoing clause (i),
  October 3, 2004, and (y) in the case of the foregoing clause (ii), September
  30, 2004.

  
	
   

  	
   

  	
   

  
	
  (F)

  	
   

  	
  The Initial
  Senior Secured Lenders shall have received reasonably satisfactory evidence
  (including satisfactory supporting schedules and other data) that
  (i) the ratio of pro forma consolidated debt to consolidated EBITDA of
  MGI and its subsidiaries for the 12-month period ending on the last day of
  the month which occurred more than 20 days prior to the Closing Date
  (calculated on a pro forma combined basis after giving effect to the
  Transactions, together with such adjustments as would be permitted to be
  reflected on pro forma financial statements pursuant to Regulation S-X,
  including and together with giving pro forma effect to the sale, disposition
  or divestiture of all stores that would be required in connection with
  obtaining requisite approvals under the HSR Act to the extent such sale,
  disposition or divestiture shall have been consummated on or prior to the
  Closing Date or (in the reasonable judgment of the Initial Senior Secured
  Lenders) subjected to a binding definitive purchase and sale agreement
  executed and delivered on or prior to the Closing Date (including the
  application of the net cash proceeds (or, in the case of such purchase and
  sale agreement, the expected net cash proceeds) of such sale, disposition or
  divestiture to the reduction of, as determined by the Lead Arranger, the Term
  Loan Facilities and/or the Senior Note Offering or Interim Loan)) was not
  greater than 3.3:1; and (ii) consolidated EBITDA of Target and its
  subsidiaries (calculated on a stand-alone basis, prior to giving effect to
  the Transactions) for the four-fiscal-quarter period ending on the last date
  set forth below which occurred more than 20 days prior to the Closing Date
  shall not be less than the amount set forth opposite such date below:

  

 

A-8

 

	
  4 fiscal quarter period

  ending on

  	
   

  	
  Minimum

  EBITDA

  	
   

  
	
  12/31/04

  	
   

  	
  $

  	
  229 million

  	
   

  
	
  03/31/05

  	
   

  	
  $

  	
  220 million

  	
   

  

 

	
   

  	
   

  	
  For purposes of
  clauses (i) and (ii) above of this paragraph (F), EBITDA shall be
  determined in a manner substantially consistent with the determination of
  EBITDA set forth on Annex II hereto.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The Initial Senior
  Secured Lenders shall have received reasonably satisfactory evidence on the
  Closing Date that since December 1, 2004, other than to the extent necessary
  to effect the Transactions or comply with the terms of the Commitment Letter
  or Fee Letter, MGI and its subsidiaries have conducted their respective
  businesses in the ordinary and usual course consistent with past practice and
  with the projections delivered to the Initial Senior Secured Lenders and,
  without limiting the generality of the foregoing, have not made or declared
  any stock dividends or stock repurchases.

  
	
   

  	
   

  	
   

  
	
  (G)

  	
   

  	
  On the Closing Date, prior to giving effect to the
  Transactions, Target shall have no less than $165 million in cash that would
  be reflected on its balance sheet, and the Initial Senior Secured Lenders
  shall have received a certificate from the Borrower’s chief financial officer
  showing that Target has no less than $165 million in cash that would be
  reflected on its balance sheet on the Closing Date prior to giving effect to
  the Transactions; provided, however, that such required amount of cash on
  hand at Target shall be reduced on a dollar for dollar basis to the extent
  that Target shall have used such cash following the date of the Commitment
  Letter but prior to the Closing Date to repay indebtedness that would
  otherwise comprise indebtedness to be repaid pursuant to the Refinancing, but
  such reduction to cash on hand will be offset by any incurrence of debt (other
  than incurrences of debt under the Credit Facilities or the Senior Notes) by
  Target following the date of the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  On the Closing Date, MGI and Target shall have
  utilized, and shall have caused their respective subsidiaries to have utilized,
  all available cash (other than $50 million in cash that would be reflected on
  their collective balance sheets), prior to giving effect to any funding under
  the Credit Facilities or receipt of proceeds from the issuance of any Senior
  Notes, to consummate the Transactions (it being understood that there shall
  be a correlative reduction in the amount of the Term Loan Facilities and/or
  the Senior Note Offering or Interim Loan, as determined by the Lead Arranger,
  to the extent that after giving effect to such reduction and to such
  utilization of such available cash, there are sufficient funds to consummate
  the Transactions), and the Initial Senior Secured Lenders shall have received
  a certificate from MGI’s chief

  

 

A-9

 

	
   

  	
   

  	
  financial officer showing that MGI, Target and their
  respective subsidiaries have no more than $50 million in cash that would be
  reflected on such balance sheets.

  
	
   

  	
   

  	
   

  
	
  (H)

  	
   

  	
  The respective amounts
  of the sources and uses for the Transactions shall be consistent with the
  table set forth in Annex I to the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
  (I)

  	
   

  	
  All requisite governmental authorities shall have
  approved or consented to the Transactions and the other transactions
  contemplated hereby to the extent required (without the imposition of any
  materially burdensome condition or qualification in the reasonable judgment
  of the Initial Senior Secured Lenders), all applicable appeal periods shall
  have expired and there shall be no governmental or judicial action, actual or
  threatened, that, in the judgment of the Initial Senior Secured Lenders, has
  or could have a reasonable likelihood of restraining, preventing or imposing
  materially burdensome conditions on any of the Transactions or the other
  transactions contemplated hereby; it being understood that with respect to
  actions taken in connection with discussions or negotiations with the United
  States Federal Trade Commission and the Antitrust Division of the United
  States Department of Justice relating to antitrust matters in respect of
  obtaining requisite approvals under the HSR Act for the Acquisition, an
  action in connection with, or agreement to, any hold separate order, sale,
  divesture or disposition of stores of the Company or Target or any of their
  respective subsidiaries that, individually or in the aggregate, could not
  reasonably be expected to have a “Company Material Adverse Effect” (as
  defined in the Merger Agreement) or a Company Material Adverse Effect (as
  defined in the Merger Agreement, but assuming the reference therein to
  “Company” or “Company and its Subsidiaries” is a reference to Company (as
  defined in the Commitment Letter), Target and their subsidiaries taken
  together as a whole (after giving effect to the Transactions)) shall not be
  deemed to be a “materially burdensome condition” for purposes of this
  sentence or for purposes of paragraph (L) below. The Transactions shall be in
  material compliance with all applicable laws and regulations. All requisite
  third parties shall have approved or consented to the Transactions and the
  other transactions contemplated hereby, except to the extent the failure to
  obtain such approvals and consents could not reasonably be expected,
  individually or in the aggregate, to have a material adverse effect on the
  business, results of operations, financial condition, assets, liabilities or
  prospects of Target and its subsidiaries (before and after giving effect to
  the Transactions).

  
	
   

  	
   

  	
   

  
	
  (J)

  	
   

  	
  The Initial Senior Secured Lenders shall have
  received reasonably satisfactory title insurance policies (including such
  endorsements as the Initial Senior Secured Lenders may reasonably require),
  legal opinions and other customary documentation reasonably required by the
  Initial Senior Secured Lenders with respect to real

  

 

A-10

 

	
   

  	
   

  	
  property of MGI, Target and their subsidiaries
  subject to mortgages for which receipt of such items is customary or
  appropriate.

  
	
   

  	
   

  	
   

  
	
  (K)

  	
   

  	
  All accrued fees and
  expenses (including the reasonable fees and expenses of counsel to the
  Lenders, the Initial Senior Secured Lenders and the Administrative Agent) of
  the Lenders, the Initial Senior Secured Lenders and the Administrative Agent
  in connection with the Credit Documents shall have been paid. All fees owed
  pursuant to the Fee Letter shall have been paid.

  
	
   

  	
   

  	
   

  
	
  (L)

  	
   

  	
  There shall not be
  pending (i) any action or proceeding by any foreign or domestic government,
  court, administrative agency, commission or other governmental or regulatory
  authority or instrumentality (collectively, a “governmental entity”) or (ii)
  any action or proceeding by any other person or entity, in any case referred
  to in the foregoing clauses (i) and (ii), before any court or other
  governmental entity that has a reasonable possibility of success (w) seeking
  to make illegal or to restrain or prohibit the consummation of, or to impose
  materially burdensome conditions upon, the Merger, any of the other
  Transactions or any other transaction contemplated hereunder or under the
  Commitment Letter or seeking to obtain material damages, (x) seeking
  (1) to restrain or prohibit MGI’s, Target’s or any of their respective
  subsidiaries’ ownership or operation of all or any material portion of the
  businesses or assets of MGI and Target and their subsidiaries taken together
  as a whole (after giving pro forma effect to the Transactions), on the one
  hand, or Target and its subsidiaries taken together as a whole (before and
  after giving effect to the Transactions), on the other hand, or (2) to
  compel MGI, Target or any of their respective subsidiaries to dispose of or
  hold separate all or any material portion of the businesses or assets of MGI
  and Target and their subsidiaries taken together as a whole (after giving pro
  forma effect to the Transactions), on the one hand, or Target and its
  subsidiaries taken together as a whole (before and after giving effect to the
  Transactions) on the other hand, (y) seeking to impose or confirm
  material limitations on the ability of MGI, Target or any of their respective
  subsidiaries to effectively control their respective businesses or operations
  (including the ability of the Borrower to effectively exercise full rights of
  ownership over the capital stock of the Target) or (z) which could reasonably
  be expected to adversely affect the legality, validity or enforceability of
  the Credit Documents or which could reasonably be expected to have a material
  adverse effect on the ability of the Credit Parties taken as a whole to
  perform their obligations under the Credit Documents or on the rights and
  remedies of the Lenders (other than, for purposes of this subclause (z),
  those actions or proceedings outstanding as of the date of the Commitment
  Letter and disclosed in writing to the Initial Senior Secured Lenders on or
  prior to such date); provided, however, that any such action or proceeding
  brought by or on

  

 

A-11

 

	
   

  	
   

  	
  behalf of beneficial
  holders of the Target’s common stock shall not be the basis for the failure
  of the condition set forth in this paragraph (L) if: (a) the parties to such
  action or proceeding have entered into a memorandum of understanding or other
  agreement with respect to the settlement of such action or proceeding
  reasonably acceptable to the Initial Senior Secured Lenders, (b) the
  final date by which the court requires that the members of the class or
  putative class of shareholders that is covered by the memorandum of
  understanding or other agreement (the “Class Shareholders”) complete
  their election to opt out of any settlement of such action or proceeding that
  is the subject of the memorandum of understanding has passed, (c) the number
  of shares of the Target’s common stock beneficially owned by the Class
  Shareholders who have been permitted by the court to opt out of any settlement
  of such action or proceeding that is the subject of the memorandum of
  understanding does not exceed the number equal to 10% of the number of such
  shares outstanding on the date of the Merger Agreement and (d) final approval
  by the relevant court under Rule 23 of the Federal Rules of Civil Procedure
  (or, in the case of a state court, equivalent state rule) has been received.

  
	
   

  	
   

  	
   

  
	
  (M)

  	
   

  	
  The Lenders shall have
  received projected cash flows, balance sheets and income statements for the
  period of seven years following the Closing Date, which projections shall be
  (i) based upon reasonable assumptions made in good faith and (ii)
  substantially in conformity with those projections delivered to the Lenders
  during syndication. The Lenders shall have received (a) unaudited
  interim consolidated financial statements of MGI and Target for each fiscal
  quarterly period ended after the latest audited financial statements, to the
  extent such quarterly financial statements have been or are required to have
  been filed with the U.S. Securities and Exchange Commission (and the
  equivalent quarterly period in the prior year), reviewed in accordance with
  SAS 100 by an independent accounting firm of national standing, (b) monthly
  consolidated financial statements for MGI and Target for the months
  subsequent to the latest annual or quarterly financial statements and ended
  not less than 30 days prior to the Closing Date, (c) appropriate pro
  forma consolidated financial statements for MGI prepared in accordance with
  Regulation S-X and (d) audited consolidated financial statements for MGI and
  Target and such other financial statements, selected financial data and
  financial information, if any, which would be required in a registration
  statement on Form S-1 for a registered debt offering. The Initial Senior
  Secured Lenders shall have received all documentation and other information
  required by bank regulatory authorities under applicable “know your customer”
  and anti-money laundering rules and regulations, including without limitation
  the U.S.A. Patriot Act.

  
	
   

  	
   

  	
   

  
	
  (N)

  	
   

  	
  MGI and Borrower shall
  have received credit ratings from

  

 

A-12

 

	
   

  	
   

  	
  Standard & Poor’s
  and Moody’s.

  
	
   

  	
   

  	
   

  
	
  (O)

  	
   

  	
  The Lenders shall have
  received the results of a recent lien, tax and judgment search in such
  jurisdictions and offices as reasonably determined by the Initial Senior
  Secured Lenders (including without limitation where assets of each of MGI,
  Target and their respective subsidiaries are located or recorded), and such
  search shall reveal no liens on any of their assets except for liens
  permitted by the Senior Credit Documents or liens to be discharged in
  connection with the transactions contemplated hereby.

  
	
   

  	
   

  	
   

  
	
  (P)

  	
   

  	
  All other material
  documentation, including, without limitation, any tax sharing agreement,
  employment agreement or other financing arrangement, with respect to or in
  connection with any of the Transactions shall be in form and substance
  reasonably satisfactory to the Initial Senior Secured Lenders (it being
  understood and agreed that the draft execution copy of the Merger Agreement
  delivered to the Initial Senior Secured Lenders on January 9, 2005 is
  acceptable to the Initial Senior Secured Lenders).

  
	
   

  	
   

  	
   

  
	
  (Q)

  	
   

  	
  The Initial Senior
  Secured Lenders shall have received such other legal opinions (including, but
  not limited to, any necessary tax opinions), corporate documents, security
  documents, due diligence materials and other instruments and/or certificates
  as they may reasonably request.

  
	
   

  	
   

  	
   

  
	
  Conditions to
  All Extensions of Credit:

  	
   

  	
  Each extension
  of credit under the Senior Secured Credit Facilities will be subject to
  customary conditions, including the (i) absence of any Default or Event of
  Default, and (ii) continued accuracy of representations and warranties.

  
	
   

  	
   

  	
   

  
	
  Representations
  and Warranties:

  	
   

  	
  Customary for
  facilities similar to the Senior Secured Credit Facilities and such
  additional representations and warranties as may reasonably be required by
  the Initial Senior Secured Lenders.

  
	
   

  	
   

  	
   

  
	
  Affirmative
  Covenants:

  	
   

  	
  Customary for
  facilities similar to the Senior Secured Credit Facilities and such others as
  may reasonably be required by the Initial Senior Secured Lenders.

  
	
   

  	
   

  	
   

  
	
  Negative
  Covenants:

  	
   

  	
  Customary for
  facilities similar to the Senior Secured Credit Facilities and such others as
  may reasonably be required by the Initial Senior Secured Lenders (all such
  covenants to be applicable to each of the Credit Parties and its subsidiaries
  and subject to baskets and exceptions to be agreed upon), including, but not
  limited to, limitation on indebtedness; limitation on liens and further
  negative pledges; limitation on investments; limitation on capital
  expenditures; limitation on contingent obligations; limitation on dividends, redemptions and repurchases of equity interests; limitation
  on mergers, acquisitions and asset sales; limitation on sale-leaseback
  transactions; limitation on transactions

  

 

A-13

 

	
   

  	
   

  	
  with affiliates;
  limitation on activities of MGI; limitation on dividend and other payment
  restrictions affecting subsidiaries; limitation on changes in business
  conducted; limitation on change to fiscal year; limitation on amendment of
  documents relating to other indebtedness and other material documents;
  limitation on creation of subsidiaries; limitation on prepayment or
  repurchase of other indebtedness; and limitation on restricted payments.
  Notwithstanding the foregoing, the negative covenants in the Credit Agreement
  shall contain exceptions to be agreed upon for the purpose of permitting
  transfers of cash and other assets, and other transactions including the
  incurrence of intercompany debt, between and among the Credit Parties. No
  material change may be made to the Merger Agreement without the consent of
  the Initial Senior Secured Lenders, which consent shall not be unreasonably
  withheld.

  
	
   

  	
   

  	
   

  
	
  Financial
  Covenants:

  	
   

  	
  The Senior
  Secured Credit Facilities will contain the following financial covenants
  based upon the financial information provided to the Initial Senior Secured
  Lenders (definitions and numerical calculations to be set forth in the Credit
  Agreement): maximum ratio of total debt to EBITDA (to be defined), fixed
  charge coverage ratio (to be defined) and interest coverage ratio (to be
  defined). These financial covenants will be tested on a quarterly basis and
  will apply to MGI and its subsidiaries on a consolidated basis.

  
	
   

  	
   

  	
   

  
	
  Interest Rate
  Management:

  	
   

  	
  The Borrower
  shall, within a to-be-determined period of time following the Closing Date,
  enter into an interest rate swap or similar interest rate protection
  arrangement for the purpose of protecting it against fluctuations in interest
  rates to the extent necessary to provide that at least 50% of the aggregate
  principal amount of the Term Loans and Senior Notes is subject to a fixed
  interest rate, on terms and with a counterparty reasonably acceptable to the
  Administrative Agent, and shall maintain such arrangement until the third
  anniversary of the Closing Date.

  
	
   

  	
   

  	
   

  
	
  Events of
  Default:

  	
   

  	
  Customary for
  facilities similar to the Senior Secured Credit Facilities and others to be
  reasonably specified by the Initial Senior Secured Lenders.

  
	
   

  	
   

  	
   

  
	
  Yield
  Protection, Increased Costs, Gross Up and Other Tax Indemnities:

  	
   

  	
  Usual for
  facilities and transactions of this type.

  
	
   

  	
   

  	
   

  
	
  Assignments and
  Participations:

  	
   

  	
  Each assignment
  (unless to another Lender or its affiliates) shall be: (a) with respect to
  the Term Loan A Facility and the Revolving Facility, in a minimum amount of
  $1 million (unless Borrower and the Administrative Agent otherwise consent or
  unless the assigning Lender’s exposure is thereby reduced to zero) and (b)
  with respect to the Term Loan B Facility, in a minimum amount of $1 million
  (unless Borrower and the Administrative Agent otherwise consent

  

 

A-14

 

	
   

  	
   

  	
  or unless the
  assigning Lender’s exposure is thereby reduced to zero). Assignments (which
  may be non pro  rata among loans and commitments) shall be
  permitted with the consent of the Administrative Agent and Borrower (except
  for assignments to another Lender or its affiliates, for which consent shall
  not be required) (such consent not to be unreasonably withheld, delayed or
  conditioned); provided that any assignment shall only be subject to the
  consent of the Borrower so long as no Default or Event of Default has
  occurred and is continuing. Participations shall be permitted without
  restriction. Voting rights of participants will be subject to customary
  limitations.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  An assignment
  fee payable to the Administrative Agent of $3,500 shall be required in
  connection with any assignment by any Lender.

  
	
   

  	
   

  	
   

  
	
  Required
  Lenders:

  	
   

  	
  Lenders holding
  a majority of the outstanding Loans and commitments for all issues other than
  the application of proceeds or certain other matters (to be determined)
  adverse to any individual tranche of the Senior Secured Credit Facilities, in
  which case Lenders holding a majority of the outstanding Loans and
  commitments in each voting class (with such Lenders under (i) the Term Loan B
  Facility and (ii) the Revolving Facility and the Term Loan A Facility, voting
  as separate classes), subject to amendments of certain provisions of the
  Senior Credit Documents requiring the consent of Lenders having a greater
  share (or all) of the outstanding credit exposure.

  
	
   

  	
   

  	
   

  
	
  Expenses and
  Indemnification:

  	
   

  	
  In addition to
  those out-of-pocket expenses reimbursable under the Commitment Letter, all
  out-of-pocket expenses of the Lead Arranger, the Initial Senior Secured
  Lenders and the Administrative Agent, Syndication Agent and Documentation
  Agent (and the Lenders for enforcement costs and documentary taxes)
  associated with the preparation, execution and delivery of any waiver or
  modification (whether or not effective) of, and the enforcement of, any
  Senior Credit Document (including the reasonable fees, disbursements and
  other charges of counsel for the Lead Arranger, the Initial Senior Secured
  Lenders, the Administrative Agent, Syndication Agent and Documentation Agent)
  are to be paid by the Credit Parties. The Credit Parties will indemnify each
  of the Lead Arranger, the Initial Senior Secured Lenders, the Administrative
  Agent, Syndication Agent, Documentation Agent and the other Lenders and hold
  them harmless from and against all costs, expenses (including reasonable
  fees, disbursements and other charges of counsel) and liabilities arising out
  of or relating to any litigation or other proceeding (regardless of whether
  the Lead Arranger, any such Initial Senior Secured Lender, the Administrative
  Agent, the Syndication Agent, the Documentation Agent or any such other
  Lender is a party thereto) that relate to the Transactions or any
  transactions related thereto, except to the extent determined by a

  

 

A-15

 

	
   

  	
   

  	
  court of
  competent jurisdiction in a final and nonappealable judgment to have resulted
  primarily from such person’s gross negligence, bad faith or willful
  misconduct.

  
	
   

  	
   

  	
   

  
	
  Governing Law
  and Forum:

  	
   

  	
  New York (except
  for security documentation that the Administrative Agent determines should be
  governed by local law).

  
	
   

  	
   

  	
   

  
	
  Waiver of Jury
  Trial:

  	
   

  	
  All parties to
  the Senior Credit Documents will waive right to trial by jury.

  
	
   

  	
   

  	
   

  
	
  Special Counsel
  for the Book Runner, Lead Arranger, the Initial Senior Secured Lenders, the
  Administrative Agent, the Syndication Agent and the Documentation Agent:

  	
   

  	
  Mayer, Brown,
  Rowe & Maw LLP.

  

 

A-16

 

ANNEX I

 

	
  Interest Rates
  and Fees:

  	
   

  	
  Borrower will be
  entitled to make borrowings based on the ABR plus the Applicable Margin or
  LIBOR plus the Applicable Margin.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The “Applicable
  Margin” shall be (A) with respect to LIBOR Loans, (i) under the Revolving
  Facility, 2.75% per  annum, (ii) under the Term Loan A Facility,
  2.75% per  annum, and (iii) under the Term Loan B Facility,
  3.00% per  annum and (B) with respect to ABR Loans, (i) under
  the Revolving Facility, 1.75% per  annum, (ii) under the Term
  Loan A Facility 1.75% per  annum, and (iii) under the Term Loan
  B Facility, 2.00% per  annum. 
  Beginning with the first fiscal quarter ended more than three months
  after the Closing Date, the Applicable Margin for Revolving Loans and the
  Term Loan A Facility will vary based on reference to a Leverage Ratio (to be
  defined in a mutually satisfactory manner) in each case for the most recent
  fiscal quarter as follows:

  

 

	
  Level

  	
   

  	
  Leverage
  Ratio

  	
   

  	
  Applicable

  Base Rate

  (ABR)

  Margin

  	
   

  	
  Applicable

  LIBOR

  Margin

  	
   

  
	
  I

  	
   

  	
  Greater than or equal to 2.75 to 1.00

  	
   

  	
  1.75

  	
  %

  	
  2.75

  	
  %

  
	
  II

  	
   

  	
  Greater than or equal to 2.25 to 1.00 but less than
  2.75 to 1.00

  	
   

  	
  1.50

  	
  %

  	
  2.50

  	
  %

  
	
  III

  	
   

  	
  Greater than or equal to 1.75 to 1.00 but less than
  2.25 to 1.00

  	
   

  	
  1.25

  	
  %

  	
  2.25

  	
  %

  
	
  IV

  	
   

  	
  Less than 1.75 to 1.00

  	
   

  	
  1.00

  	
  %

  	
  2.00

  	
  %

  

 

	
   

  	
   

  	
  Unless consented to by the Administrative Agent in
  its sole discretion, no LIBOR Loans may be elected on the Closing Date or
  prior to the date 30 days thereafter (unless the completion of the primary
  syndication of the Senior Secured Credit Facilities as determined by the
  Administrative Agent shall have occurred).

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “ABR” means the higher of (i) the prime rate
  of interest announced by the Administrative Agent from time to time, changing
  when and as said prime rate changes, and (ii) the Federal Funds Rate plus
  0.50% per  annum.  The
  prime rate is not necessarily the lowest rate charged by the Administrative
  Agent to its customers.

  

 

 

	
   

  	
   

  	
  “LIBOR” means the rate determined by the
  Administrative Agent to be available to the Lenders in the London interbank
  market for deposits in the amount of, and for a maturity corresponding to,
  the amount of the applicable LIBOR Loan, as adjusted for maximum statutory
  reserves.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Borrower may select interest periods of one, two,
  three or six months for LIBOR borrowings. 
  Interest will be payable in arrears (i) in the case of ABR Loans, at
  the end of each quarter and (ii) in the case of LIBOR Loans, at the end of
  each interest period and, in the case of any interest period longer than
  three months, no less frequently than every three months.  Interest on all borrowings shall be
  calculated on the basis of the actual number of days elapsed over (x) in the
  case of LIBOR Loans, a 360-day year, and (y) in the case of base rate ABR
  Loans, a 365- or 366-day year, as the case may be.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Commitment fees accrue on the undrawn amount of the
  Revolving Facility, commencing on the date of the making of the initial
  credit extensions under the Senior Secured Credit Facilities.  The commitment fee in respect of the Senior
  Secured Credit Facilities will be 0.50% per  annum.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  All commitment fees will be payable in arrears at
  the end of each quarter and upon any termination of any commitment, in each
  case for the actual number of days elapsed over a 360-day year.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The Senior Credit Documents will contain customary
  protective provisions for such matters as defaulting banks, capital adequacy,
  increased costs, reserves, funding losses, illegality and withholding taxes.

  

 

 

ANNEX II

 

EBITDA Calculation

($
in 000’s)

 

	
   

  	
   

  	
   

  	
   

  	
  Nine
  Months Ended

  	
   

  	
  12
  Months

  	
   

  
	
   

  	
   

  	
  FYE

  	
   

  	
  September 30,

  	
   

  	
  September 30,

  	
   

  
	
  Hollywood

  	
   

  	
  2003

  	
   

  	
  2004

  	
   

  	
  2003

  	
   

  	
  2004

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operating income

  	
   

  	
  $

  	
  185,094

  	
   

  	
  $

  	
  121,203

  	
   

  	
  $

  	
  136,892

  	
   

  	
  $

  	
  169,405

  	
   

  
	
  Depreciation and
  amortization*

  	
   

  	
  60,762

  	
   

  	
  47,232

  	
   

  	
  45,675

  	
   

  	
  62,319

  	
   

  
	
  Non-cash stock
  comp

  	
   

  	
  564

  	
   

  	
  133

  	
   

  	
  432

  	
   

  	
  265

  	
   

  
	
  Restructuring
  adjustments

  	
   

  	
  (2,106

  	
  )

  	
  (190

  	
  )

  	
  —

  	
   

  	
  (2,296

  	
  )

  
	
  Merger expenses

  	
   

  	
   

  	
   

  	
  4,464

  	
   

  	
   

  	
   

  	
  4,464

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EBITDA

  	
   

  	
  $

  	
  244,314

  	
   

  	
  $

  	
  172,842

  	
   

  	
  $

  	
  182,999

  	
   

  	
  $

  	
  234,157

  	
   

  

 

	
   

  	
   

  	
   

  	
   

  	
  Nine
  Months Ended

  	
   

  	
  12
  Months

  	
   

  
	
   

  	
   

  	
  January 4,

  	
   

  	
  October
  3,

  	
   

  	
  October
  3,

  	
   

  
	
  Movie
  Gallery

  	
   

  	
  2004

  	
   

  	
  2004

  	
   

  	
  2003

  	
   

  	
  2004

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operating income

  	
   

  	
  $

  	
  81,891

  	
   

  	
  $

  	
  62,927

  	
   

  	
  $

  	
  53,196

  	
   

  	
  $

  	
  91,622

  	
   

  
	
  Depreciation and
  amortization*

  	
   

  	
  23,569

  	
   

  	
  22,151

  	
   

  	
  16,911

  	
   

  	
  28,809

  	
   

  
	
  Non-cash stock
  comp

  	
   

  	
  1,481

  	
   

  	
  28

  	
   

  	
  1,626

  	
   

  	
  (117

  	
  )

  
	
  Alternative
  delivery investment losses

  	
   

  	
  1,450

  	
   

  	
  4,886

  	
   

  	
  700

  	
   

  	
  5,636

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EBITDA

  	
   

  	
  $

  	
  108,391

  	
   

  	
  $

  	
  89,992

  	
   

  	
  $

  	
  72,433

  	
   

  	
  $

  	
  125,950

  	
   

  

 

*Excluding rental
inventory amortization

 

 

EXHIBIT B

 

INTERIM
LOAN

SUMMARY OF TERMS AND CONDITIONS(1)

 

	
  Borrower:

  	
   

  	
  “Borrower”
  means Newco and/or one or more wholly owned subsidiaries of Movie Gallery,
  Inc. (“MGI”).  Immediately after
  the initial draw down under the Interim Loan, Newco will be merged with and
  into Target, with Target as the surviving corporation, and Target will assume
  all obligations of Newco.

  
	
   

  	
   

  	
   

  
	
  Sole and Exclusive Lead Arranger and Sole
  and Exclusive Book Runner:

  	
   

  	
  “Lead
  Arranger” and “Book Runner” shall have the meanings set forth in
  Annex II to the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
  Administrative Agent:

  	
   

  	
  As set forth
  in Annex II to the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
  Syndication Agent:

  	
   

  	
  As set forth
  in Annex II to the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
  Documentation Agent:

  	
   

  	
  As set forth
  in Annex II to the Commitment Letter.

  
	
   

  	
   

  	
   

  
	
  Lenders:

  	
   

  	
  Each of
  Wachovia Capital Investments, Inc. (“WCI”) and Merrill Lynch Capital
  Corporation (“MLCC”) or one of their respective affiliates
  (collectively, and together with any successor(s) or assignee(s) thereto as
  approved by MGI, in accordance with Section 1 of the Commitment Letter, the “Initial
  Interim Lenders”) and a syndicate of financial institutions (collectively
  with Initial Interim Lenders, the “Lenders”) arranged by the Lead
  Arranger in consultation with Borrower.

  
	
   

  	
   

  	
   

  
	
  Principal Amount:

  	
   

  	
  Up to $475
  million.

  
	
   

  	
   

  	
   

  
	
  Documentation:

  	
   

  	
  Usual for
  facilities and transactions of this type and reasonably acceptable to
  Borrower and the Lenders.  The
  documentation for the Interim Loan will include, among others, a credit
  agreement (the “Interim Loan Agreement”), guarantees and other
  appropriate documents (collectively, the “Interim Loan Documents”).

  
	
   

  	
   

  	
   

  
	
  Transactions:

  	
   

  	
  As described
  in the Commitment Letter.

  

 

(1)           Capitalized terms used herein and not defined shall have
the meanings assigned to such terms in the Amended and Restated Credit
Facilities Commitment Letter to which this Exhibit B is attached (the
“Commitment Letter”).

 

 

	
  Use of Proceeds:

  	
   

  	
  Together with
  the Senior Secured Credit Facilities to effect the Acquisition and the
  Refinancing, to consummate the  Tender
  Offer and the Change of Control Offer, if any,  and to pay the fees and expenses related to
  the Transactions.

  
	
   

  	
   

  	
   

  
	
  Termination of Commitments:

  	
   

  	
  The
  commitments in respect of the Interim Loan (including pursuant to the
  Commitment Letter) will terminate on May 1, 2005 if the Acquisition
  has not been consummated on or prior to such date, unless the Acquisition has
  not occurred by such date due solely to a delay in obtaining the requisite
  approvals under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
  amended, or clearance by the SEC of Target’s proxy statement with respect to
  the Merger as contemplated by the provisions of the Merger Agreement, in
  which case, such commitments will terminate on June 30, 2005.  In addition, the commitments in respect of
  the Interim Loan will automatically and permanently terminate on the date of
  the consummation of the Acquisition to the extent not drawn down on such
  date; provided, that, if Target is required to make a Change of Control
  Offer, commitments in respect of the Interim Loan in an amount equal to (a)
  the aggregate principal amount of the Existing Notes not purchased in the
  Tender Offer minus (b) the amount of proceeds from the Senior Notes Offering
  placed into escrow to fund the Change of Control Offer will not terminate on
  such date, but will automatically and permanently terminate on the date of
  consummation of the Change of Control Offer to the extent not drawn down on
  such date. 

  
	
   

  	
   

  	
   

  
	
  Maturity:

  	
   

  	
  The Interim
  Loan will mature on the date (the “Initial Maturity Date”) that is
  twelve months after the initial funding date (the “Funding”). Upon the
  satisfaction of the terms and conditions described under “Exchange Feature;
  Rollover Securities and Rollover Loans”, the Interim Loan will be exchanged
  at any time thereafter for, at the option of each Lender, either (i)
  unsecured senior debt securities (“Rollover Securities”), evidenced by
  an indenture in a form attached to the Interim Loan Agreement and maturing on
  the sixth anniversary of the Initial Maturity Date, or (ii) unsecured senior
  loans maturing on the sixth anniversary of the Initial Maturity Date (the “Rollover
  Loans”), evidenced by the Interim Loan Agreement.

  
	
   

  	
   

  	
   

  
	
  Interest Rate:

  	
   

  	
  (A) Interim
  Loan.  The Interim Loan will bear
  interest at a rate per annum expressed as
  a basis point spread (the “Spread”) over 30 day LIBOR (as adjusted
  every 30 days and adjusted for all applicable reserve requirements) at such
  time, as follows:

  

 

B-2

 

	
  From the

  Beginning of Month

  	
   

  	
  To the

  End of Month

  	
   

  	
  Spread

  	
   

  
	
  1

  	
   

  	
  3

  	
   

  	
  950 bps

  	
   

  
	
  4

  	
   

  	
  6

  	
   

  	
  1000 bps

  	
   

  
	
  7

  	
   

  	
  9

  	
   

  	
  1050 bps

  	
   

  
	
  10

  	
   

  	
  12

  	
   

  	
  1100 bps

  	
   

  

 

B-3

 

	
   

  	
   

  	
  On the
  Interim Loan, the total cash interest cap shall be 14.0% per  annum
  and the total interest cap shall be 16.0% per  annum (in each
  case, exclusive of any additional interest payable due to an event of
  default).  To the extent that the
  accrued interest on the Interim Loan at any time exceeds the interest that
  would accrue at the maximum cash interest rate, such excess will be paid by
  adding the amount thereof to the outstanding principal of the Interim
  Loan.  In no event will the interest
  rate on the Interim Loan be less than 11.00% per  annum.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (B) Rollover
  Securities and Rollover Loans.  The
  Rollover Securities and the Rollover Loans will bear interest at a rate per
  annum equal to 1150 basis points (increasing by 50 basis points each fiscal
  quarter) plus 30 day LIBOR (as adjusted every 30 days and as adjusted for all
  applicable reserves).  Any holder of
  Rollover Securities or Rollover Loans may elect, at its sole option, to fix
  the interest rate per annum on its Rollover Securities or Rollover Loans at
  the then effective rate of interest per annum (in which case interest shall
  then be paid semi-annually in arrears).

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  On the
  Rollover Securities and the Rollover Loans, the total cash interest cap shall
  be 14.0% per  annum and the total interest cap shall be 16.0% per
  annum (in each case, exclusive of any additional interest payable due
  to an event of default).  To the extent
  that the accrued interest exceeds the interest that would accrue at the
  maximum cash interest rate, the excess will be paid by adding the amount
  thereof to the outstanding principal. 
  In no event will the interest rate on the Rollover Securities or the
  Rollover Loans be less than 11.00% per  annum.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Upon and
  during the continuance of an event of default, the interest rate then
  applicable to the Interim Loan or the Rollover Securities or Rollover Loans
  will increase to a margin of 200 basis points over the rate otherwise in
  effect.

  
	
   

  	
   

  	
   

  
	
  Interest Payment Dates:

  	
   

  	
  (A) Interim
  Loan.  Monthly, in arrears.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (B) Rollover
  Securities and Rollover Loans. 
  Quarterly, in arrears.

  
	
   

  	
   

  	
   

  
	
  Security:

  	
   

  	
  None.

  
	
   

  	
   

  	
   

  
	
  Guarantees:

  	
   

  	
  The Interim
  Loan (and the Rollover Securities and Rollover Loans) will be guaranteed on a
  senior unsecured basis by each entity that guarantees the Senior Secured
  Credit Facilities.  Each such guarantee
  is herein referred to as a

  

 

B-4

 

	
   

  	
   

  	
  “Guarantee”
  and each such guarantor, a “Guarantor.” The Guarantors and Borrower
  are herein referred to as the “Credit Parties.”  

  
	
   

  	
   

  	
   

  
	
  Ranking:

  	
   

  	
  The Interim
  Loan (and the Rollover Securities and Rollover Loans) will be an unsecured
  senior obligation of Borrower ranking pari  passu in right of
  payment with other senior indebtedness of the Borrower, and senior to all
  subordinated indebtedness of Borrower which is not pari  passu
  in right of payment therewith.

  
	
   

  	
   

  	
   

  
	
  Optional Prepayment:

  	
   

  	
  The Interim
  Loan will be prepayable at par at any time at Borrower’s option, in whole or
  in part, plus accrued and unpaid interest. 
  Breakage costs, if any, will be paid by Borrower.

  
	
   

  	
   

  	
   

  
	
  Mandatory Prepayment of Interim Loan:

  	
   

  	
  Subject to
  the terms of the Senior Secured Credit Facilities upon the receipt by MGI or
  any of its subsidiaries of the net cash proceeds from (i) the incurrence
  of any debt or the issuance of any debt securities (other than under the
  Senior Secured Credit Facilities and subject to limited exceptions and
  baskets to be agreed upon), (ii) any capital contribution or the sale or
  issuance of any capital stock or any securities convertible into or
  exchangeable for capital stock or any warrants, rights or options to acquire
  capital stock (subject to baskets and exceptions to be agreed upon) and (iii)
  insurance proceeds or asset sales and other asset dispositions (subject to
  limited exceptions and baskets to be agreed upon), Borrower will prepay the
  Interim Loan in an amount equal to such net proceeds not previously applied
  to such prepayments at par, together with accrued interest thereon.  In addition, upon the occurrence of a
  Change of Control (to be defined), Borrower will be required to offer to
  prepay the entire aggregate principal amount of the Interim Loan or the
  Rollover Securities and Rollover Loans in cash for a purchase price equal to
  101% of the principal amount thereof, in each case, plus accrued and unpaid
  interest.  Breakage costs, if any, will
  be paid by Borrower.

  
	
   

  	
   

  	
   

  
	
  Exchange Feature; Rollover Securities and
  Rollover Loans:

  	
   

  	
  On or after
  the Initial Maturity Date, if (i) any amount remains outstanding with respect
  to the Interim Loan and (ii) the Conditions to Conversion, as set forth
  below, are satisfied, each Lender may have its interest in the Interim Loan
  exchanged for, at the option of such Lender, either Rollover Securities or
  Rollover Loans.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The “Conditions
  to Conversion” will be the absence of: (i) any bankruptcy default,
  (ii) any payment default on any indebtedness of the Borrower or any of its
  subsidiaries (or the acceleration thereof), and (iii) any default under the

  

 

B-5

 

	
   

  	
   

  	
  Interim Loan
  Documents, the Engagement Letter or the Fee Letter.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The Rollover
  Securities and the Rollover Loans will be (i) mandatorily redeemable or
  repayable (as the case may be) on the basis applicable to the Interim Loan,
  except that, in lieu of mandatory prepayments, Borrower shall be required to
  make mandatory offers to purchase such Rollover Securities or Rollover Loans
  and (ii) optionally redeemable or repayable (as the case may be) at declining
  premiums on terms customary for high-yield debt securities, including four
  year no call provisions.  All mandatory
  offers to purchase and all optional prepayments shall be made pro rata
  between the Rollover Securities and the Rollover Loans.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The Rollover
  Securities will be evidenced by an indenture in form for qualification under
  the Securities Act and the Trust Indenture Act and will otherwise contain
  provisions customary for public debt securities, with such provisions as
  agreed to by the Joint Lead Arrangers, and the Rollover Loans will be
  evidenced by the Interim Loan Agreement. 
  The holders of the Rollover Securities will be entitled to exchange
  offer and other registration rights to permit resale by the holders of
  Rollover Securities without restriction under applicable securities laws no
  less favorable to holders than those customarily applicable to an offering
  pursuant to Rule 144A.  

  
	
   

  	
   

  	
   

  
	
  Conditions to Effectiveness and to Interim
  Loan:

  	
   

  	
  The making
  of the Interim Loan shall be subject to the same conditions precedent that
  are set forth in the Commitment Letter and in Exhibit A to the Commitment
  Letter with respect to the Senior Secured Credit Facilities and to the
  following additional conditions:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (a)           MGI and the Borrower shall have
  provided to the Initial Interim Lenders (1) as soon as practicable and in no
  event later than 30 days prior to the Closing Date (or such other date
  as the Initial Interim Lenders shall consent), a substantially complete
  initial draft (as reasonably determined by the Initial Interim Lenders) of a
  Rule 144A confidential offering memorandum relating to the issuance of the
  Senior Notes (which contains all financial statements and other data of MGI,
  the Borrower and Target to be included therein (including all audited
  financial statements (such audits to be performed by independent registered
  public accounting firms, whose audit reports shall be unqualified), all
  unaudited financial statements (each of which shall have undergone a SAS 100
  review) and all appropriate pro forma financial statements) satisfactory in
  form and substance (other than as to financial statements) to the Initial
  Interim Lenders and

  

 

B-6

 

	
   

  	
   

  	
  prepared in
  accordance with, or reconciled to, generally accepted accounting principles
  in the United States and prepared in accordance with Regulation S-X under the
  Securities Act of 1933, as amended (the “Securities Act”)), and
  substantially all other data (including selected financial data) as the
  Securities and Exchange Commission would require in a registered offering of
  the Senior Notes, as are customary and appropriate for such a document or as
  may be required by the Initial Interim Lenders (collectively, the “Required
  Information”), and (2) as soon as practicable and in no event later than
  30 days prior to the Closing Date (or such other date as the Initial
  Interim Lenders shall consent), a complete printed preliminary offering
  memorandum or (as determined by the Initial Interim Lenders) prospectus
  usable in a customary high-yield road show relating to the issuance of the
  Senior Notes which contains all Required Information.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (b)           MGI, the Borrower and Target shall
  have cooperated with and used their reasonable best efforts to assist the
  marketing effort for the Senior Note Offering, including to provide all due
  diligence materials requested, to effect the issuance of the Senior Notes in
  lieu of the draw down of the Interim Loan and including, without limitation,
  making senior management of MGI, the Borrower and Target available for due
  diligence, rating agencies presentations and a road show and other meetings
  with potential investors for the Senior Notes as required by the Initial
  Interim Lenders in their judgment to market the Senior Notes.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (c)           Ernst & Young LLP, independent
  accountants which have audited the financial statements of the Borrower
  contained in the offering documents, and PricewaterhouseCoopers LLP,
  independent accountants which have audited the financial statements of the
  Target contained in the offering documents, each shall make available and
  have delivered to the Initial Interim Lenders prior to the pricing date of
  the applicable offering, in a form they have informed the Initial Interim
  Lenders they are prepared to execute, whether or not the transaction prices,
  to the extent required by the Initial Interim Lenders, a draft of an agreed
  upon comfort letter in accordance with the requirements of SAS 72 covering
  the registration statement or confidential offering memorandum, as
  applicable, (including any documents incorporated by reference therein) to
  the extent it relates to MGI or Target, as applicable, or any of their
  respective subsidiaries or affiliates, it being understood that delivery of
  an executed comfort letter will not be a condition to the making of the
  Interim Loan.

  

 

B-7

 

	
   

  	
   

  	
  (d)           If requested in the judgment of the
  Initial Interim Lenders, there shall have been provided in any confidential
  information memorandum relating to syndication of the Interim Loan, or in any
  other document relating to the syndication of the Interim Loan, reasonably
  detailed consolidated financial projections prepared in good faith based upon
  reasonable assumptions by or on behalf of MGI, Target and their respective subsidiaries
  for MGI, Target and their respective subsidiaries, as the case may be, for
  current fiscal year and the seven subsequent fiscal years that are not
  different in a materially adverse manner as compared with those previously
  made available to the Lenders.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (e)           Borrower shall have entered into
  the Senior Secured Credit Facilities with one or more financial institutions
  for $720 million under the Senior Secured Credit Facilities (not more than an
  amount to be mutually agreed upon by the Borrower and the Initial Interim
  Lenders in aggregate principal amount of Revolving Loans to be drawn at
  funding under the Revolving Facility), pursuant to agreements and on terms
  and conditions thereunder, in form and substance satisfactory to the Initial
  Interim Lenders; it being understood that the Senior Secured Credit
  Facilities contemplated by the Commitment Letter are acceptable to the
  Initial Interim Lenders.

  
	
   

  	
   

  	
   

  
	
  Representations and Warranties:

  	
   

  	
  Customary
  for facilities similar to the Interim Loan and such additional
  representations and warranties as may be required by the Initial Interim
  Lenders.

  
	
   

  	
   

  	
   

  
	
  Affirmative Covenants:

  	
   

  	
  Customary
  for facilities similar to the Interim Loan and such additional affirmative
  covenants as may be required by the Initial Interim Lenders.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  In addition,
  the Interim Loan Agreement will contain provisions pursuant to which Borrower
  shall undertake to (i) cooperate with the Take-out Banks (as defined
  below under “Refinancing of Interim Loan”) and provide the Take-out Banks with
  information required by the Take-out Banks in connection with any Debt
  Offering (as defined below under “Refinancing of Interim Loan”) or other
  means of refinancing the Interim Loan and the Rollover Securities and the
  Rollover Loans, (ii) assist the Take-out Banks in connection with the
  marketing of the Take-out Securities (including promptly providing to the
  Take-out Banks any information requested to effect the issue and sale of the
  Take-out Securities and making available senior management of Borrower and
  Target for investor meetings), (iii) cooperate with the Take-out Banks in the
  timely preparation of any registration statement or private placement
  memorandum

  

 

B-8

 

	
   

  	
   

  	
  relating to
  any Debt Offering and other marketing materials to be used in connection with
  the syndication of the Interim Loan, and (iv) obtain or reconfirm credit
  ratings from Standard & Poor’s and Moody’s.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Upon
  issuance of the Rollover Securities and the Rollover Loans, the affirmative
  covenants shall conform to a customary high-yield indenture.

  
	
   

  	
   

  	
   

  
	
  Negative Covenants:

  	
   

  	
  Customary
  for facilities similar to the Interim Loan and such others as may be required
  by the Initial Interim Lenders (with customary baskets and exceptions to be negotiated),
  including, but not limited to, limitation on indebtedness; limitation on
  liens; limitation on investments; limitation on capital expenditures;
  limitation on contingent obligations; limitation on dividends, redemptions
  and repurchases of equity interests; limitation on mergers, acquisitions and
  asset sales; limitation on restrictions on amending the Interim Loan
  Documents; limitation on issuance, sale or other disposition of subsidiary
  stock; limitation on sale-leaseback transactions; limitation on transactions
  with affiliates; limitation on dividend and other payment restrictions
  affecting subsidiaries; limitation on changes in business conducted; and
  limitation on prepayment or repurchase of subordinated indebtedness or other pari
  passu indebtedness.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Upon
  issuance of the Rollover Securities and the Rollover Loans, the negative
  covenants shall conform to a customary high-yield indenture.

  
	
   

  	
   

  	
   

  
	
  Events of Default:

  	
   

  	
  Customary
  for facilities similar to the Interim Loan and such others as may be required
  by the Initial Interim Lenders.

  
	
   

  	
   

  	
   

  
	
  Refinancing of Interim Loan:

  	
   

  	
  Borrower
  shall undertake to use its reasonable best efforts to, at the option of the
  Borrower in consultation with the Initial Lenders, (i) prepare an offering
  memorandum for a private placement through resale pursuant to Rule 144A or
  (ii) file a registration statement under the Securities Act with respect to
  the Take-out Securities (in each case, the “Debt Offering”), to
  refinance in full the Interim Loan or the Rollover Securities and the
  Rollover Loans and consummate such Debt Offering as soon as practicable
  thereafter in an amount sufficient to refinance the Interim Loan or the
  Rollover Securities and the Rollover Loans. 
  Such Debt Offering shall be on such terms and conditions (including
  (without limitation) covenants, events of default, interest rate, yield and
  redemption prices and dates) as the financial institutions party to the
  Engagement Letter (the “Take-out Banks”) may in their judgment
  determine to be appropriate in light of prevailing circumstances and market
  conditions and the

  

 

B-9

 

	
   

  	
   

  	
  financial
  condition and prospects of Borrower and its subsidiaries at the time of sale
  and containing such other customary terms as determined by the Take-out
  Banks.  If any Take-out Securities are
  issued in a transaction not registered under the Securities Act, all such
  Take-out Securities shall be entitled to the benefit of a registration rights
  agreement to be entered into by the relevant issuer and any other obligor in
  respect of indebtedness being refinanced in customary form acceptable to the
  Take-out Banks (which shall include provisions for a customary registered
  exchange offer with respect to any Take-out Securities)

  
	
   

  	
   

  	
   

  
	
  Yield Protection, Increased Costs, Gross Up
  and Other Tax Indemnities:

  	
   

  	
  Usual for
  facilities and transactions of this type.

  
	
   

  	
   

  	
   

  
	
  Required Lenders:

  	
   

  	
  Lenders
  having a majority of the outstanding credit exposure (the “Required
  Lenders”), subject to amendments of certain provisions of the Interim
  Loan Documents requiring the consent of Lenders having a greater amount (or
  all) of the outstanding credit exposure.

  
	
   

  	
   

  	
   

  
	
  Assignments and Participations:

  	
   

  	
  Each
  assignment (unless to another Lender or its affiliates) shall be in a minimum
  amount of $1.0 million (unless Borrower and the Administrative Agent
  otherwise consent or unless the assigning Lender’s exposure is thereby
  reduced to zero). Assignments shall be permitted with the Administrative
  Agent’s consent (such consent not to be unreasonably withheld, delayed or
  conditioned).  Participations shall be
  permitted without restriction. Voting rights of participants will be subject
  to customary limitations.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  No
  assignment fees shall be required in connection with any assignment by any
  Lender.

  
	
   

  	
   

  	
   

  
	
  Expenses and Indemnification:

  	
   

  	
  In addition
  to those out-of-pocket expenses reimbursable under the Commitment Letter, all
  out-of-pocket expenses of the Lead Arranger, the Initial Interim Lenders and
  the Administrative Agent, Syndication Agent and Documentation Agent (and the
  Lenders for enforcement costs and documentary taxes) associated with the
  preparation, execution and delivery of any waiver or modification (whether or
  not effective) of, and the enforcement of, any Interim Loan Document
  (including the reasonable fees, disbursements and other charges of counsel
  for the Lead Arranger, the Initial Interim Lenders and the Administrative
  Agent, Syndication Agent and Documentation Agent) are to be paid by the
  Credit Parties.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The Credit
  Parties will indemnify the Lead Arranger, the Initial Interim Lenders, the
  Administrative Agent,

  

 

B-10

 

	
   

  	
   

  	
  Syndication
  Agent, Documentation Agent and the other Lenders and hold them harmless from
  and against all costs, expenses (including the reasonable fees, disbursements
  and other charges of counsel) and liabilities arising out of or relating to
  any litigation or other proceeding (regardless of whether the Lead Arranger,
  any such Initial Interim Lender, the Administrative Agent, Syndication Agent,
  Documentation Agent or any such other Lender is a party thereto) that relate
  to the Transactions or any transactions related thereto, except to the extent
  determined by a court of competent jurisdiction in a final and nonappealable
  judgment to have resulted primarily from such person’s gross negligence, bad
  faith or willful misconduct.

  
	
   

  	
   

  	
   

  
	
  Governing Law and Forum:

  	
   

  	
  New York.

  
	
   

  	
   

  	
   

  
	
  Waiver of Jury Trial:

  	
   

  	
  All parties
  to the Interim Loan Documents waive right to trial by jury.

  
	
   

  	
   

  	
   

  
	
  Special Counsel for the Book Runner and
  Lead Arranger:

  	
   

  	
  Mayer,
  Brown, Rowe & Maw LLP.

  

 

B-11

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