Document:

EX-10.3

EXHIBIT A-1

FORM OF ASSIGNMENT AND ACCEPTANCE AGREEMENT

This ASSIGNMENT AND ACCEPTANCE AGREEMENT (this “Assignment Agreement”) is entered into as of
     , 20     between      (“Assignor”) and      
(“Assignee”). Reference is made to that certain Second Amended and Restated Loan and Security
Agreement described in Item 2 of Annex I annexed hereto (the “Second Amended and
Restated Loan and Security Agreement”). Capitalized terms used herein and in Annex I and
not otherwise defined shall have the meanings ascribed to them in the Second Amended and Restated
Loan and Security Agreement.

1. In accordance with the terms and conditions of Section 14 of the Second Amended and
Restated Loan and Security Agreement, the Assignor hereby sells and assigns to the Assignee, and
the Assignee hereby purchases and assumes from the Assignor, that interest in and to the Assignor’s
rights and obligations under the Loan Documents as of the date hereof with respect to the
Obligations owing to the Assignor, and Assignor’s portion of the Commitments, all as specified in
Item 4.b and Item 4.c of Annex I. After giving effect to such sale and
assignment, the Assignor’s amount and portion of the Commitments will be as set forth in Item
4.d and Item 4.e of Annex I.

2. The Assignor (a) represents and warrants that it is the legal and beneficial owner of the
interest being assigned by it hereunder and that such interest is free and clear of any adverse
claim; (b) makes no representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with the Loan Documents or the
execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan
Documents or any other instrument or document furnished pursuant thereto; and (c) makes no
representation or warranty and assumes no responsibility with respect to the financial condition of
any Borrower or any Guarantor or the performance or observance by any Borrower or any Guarantor of
any of its respective obligations under the Loan Documents or any other instrument or document
furnished pursuant thereto.

3. The Assignee (a) confirms that it has received copies of the Second Amended and Restated
Loan and Security Agreement and the other Loan Documents, together with copies of the financial
statements referred to therein and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into this Assignment Agreement;
(b) agrees that it will, independently and without reliance, as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action under the Loan
Documents; (c) confirms that it is eligible as an assignee under the terms of the Second Amended
and Restated Loan and Security Agreement; (d) appoints and authorizes the Agent to take such action
as agent on its behalf and to exercise such powers under the Loan Documents as are delegated to
Agent by the terms thereof, together with such powers as are reasonably incidental thereto; (e)
agrees that it will perform in accordance with their terms all of the obligations which by the
terms of the Loan Documents are required to be performed by it as a Lender and (f) attaches the
forms required under Section 16.11 of the Second Amended and Restated Loan and Security
Agreement as prescribed by the Internal Revenue Service of the United States certifying as to the
Assignee’s status for purposes of determining exemption from United States withholding taxes with
respect to all payments to be made to the Assignee under the Second Amended and Restated Loan and
Security Agreement or such other documents as are necessary to indicate that all such payments are
subject to such rates at a rate reduced by an applicable tax treaty.

4. Following the execution of this Assignment Agreement by the Assignor and Assignee, it will
be delivered by the Assignor to the Agent for recording by the Agent. The effective date of this
Assignment (the “Settlement Date”) shall be the later of (a) the date of the execution hereof by
the Assignor and the Assignee, the payment by Assignor or Assignee to Agent for Agent’s sole and
separate account a processing fee in the amount of $5,000, and the receipt of any required consent
of the Agent and Administrative Borrower, and (b) the date specified in Item 5 of Annex
I.

5. Upon recording by the Agent, as of the Settlement Date (a) the Assignee shall be a party to
the Second Amended and Restated Loan and Security Agreement and, to the extent of the interest
assigned pursuant to this Assignment Agreement, have the rights and obligations of a Lender
thereunder and under the other Loan Documents, and (b) the Assignor shall, to the extent of the
interest assigned pursuant to this Assignment Agreement, relinquish its rights and be released from
its obligations under the Second Amended and Restated Loan and Security Agreement and the other
Loan Documents.

6. Upon recording by the Agent, from and after the Settlement Date, the Agent shall make all
payments under the Second Amended and Restated Loan and Security Agreement and the other Loan
Documents in respect of the interest assigned hereby (including, without limitation, all payments
of principal, interest and commitment fees (if applicable) with respect thereto) to the Assignee.
Upon the Settlement Date, the Assignee shall pay to the Assignor the Assigned Share (as set forth
in Item 4.b of Annex I) of the principal amount of any outstanding loans under the
Second Amended and Restated Loan and Security Agreement and the other Loan Documents. The Assignor
and Assignee shall make all appropriate adjustments in payments under the Second Amended and
Restated Loan and Security Agreement and the other Loan Documents for periods prior to the
Settlement Date directly between themselves on the Settlement Date.

7. This Assignment Agreement may be executed in counterparts and by the parties hereto in
separate counterparts, each of which when so executed and delivered shall be an original, but all
of which shall together constitute one and the same instrument. This Assignment Agreement may be
executed and delivered by telecopier or other facsimile transmission all with the same force and
effect as if the same were a fully executed and delivered original manual counterpart.

8. THIS ASSIGNMENT AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION
5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

[Remainder of page intentionally left blank.]

1

IN WITNESS WHEREOF, the parties hereto
have caused this Assignment and Acceptance Agreement and Annex I hereto to be executed by their
respective officers, as of the first date above written.

[NAME OF ASSIGNOR],

as Assignor

By:

Name:

Title:

[NAME OF ASSIGNEE],

as Assignee

By:

Name:

Title:

ACCEPTED THIS      DAY OF      , 20     :

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Agent

By:

Name:

Title:

ACCEPTED [AND CONSENTED TO]1

THIS      DAY OF     , 20     :

[NAME OF ADMINISTRATIVE BORROWER],

as Administrative Borrower

	 	 	 
	By:

	 	

	 

	 	

	Name:

	 	

	Title:

	 	]
	 

	 	 

2

ASSIGNMENT AND ACCEPTANCE AGREEMENT

ANNEX I

	1.	 	Borrowers:

Smart Modular Technologies, Inc., a California corporation, Smart Modular
Technologies (Europe) Limited, a company organized under the laws of England and
Wales, and Smart Modular Technologies (Puerto Rico) Inc., an exempted company
organized under the laws of the Cayman Islands.

	2.	 	Name and Date of Second Amended and Restated Loan and Security Agreement:

Second Amended and Restated Loan and Security Agreement, dated as of April [     ], 2007,
among Borrowers, the other Obligors signatory thereto, the lenders signatory thereto as
the Lenders, Wells Fargo Bank, National Association, a national banking association, as
the arranger, administrative agent, and security trustee for the Lenders.

	3.	 	Date of Assignment Agreement:      

	4.	 	Amounts:

	 	 	 	 	 	 	 	 	 
	a.
	 	Assignor’s Commitment
	 	$	—	 
	b.
	 	Assigned Percentage of all Commitment
	 	 	—	%
	c.
	 	Assigned Amount of Commitment
	 	$	—	 

	 	d.	 	Resulting Amount of Assignor’s Commitment after

giving effect to the sale and Assignment to Assignee $     

	 	e.	 	Assignor’s Resulting Percentage of all Commitments

	 	 	 	 	 	 	 	 	 
	 
	 	after giving effect to the Assignment to Assignee
	 	 	—	%
	5.
	 	Settlement Date:
	 	 	_____________,20__	 

	6.	 	Notice and Payment Instructions, etc.

	 	 	 
	 
	 	 
	 
	 	 
	Assignor:

	 	Assignee:

	7.	 	Agreed and Accepted:

	 	 	 
	[NAME OF ASSIGNOR] [NAME OF ASSIGNEE]
	By:

	 	By:
	Name:

	 	Name:
	Title:

	 	Title:

ACCEPTED THIS      DAY OF      , 20     :

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Agent

By:

Name:

Title:

ACCEPTED AND [CONSENTED TO]2

THIS      DAY OF      , 20     :

[NAME OF ADMINISTRATIVE BORROWER],

as Administrative Borrower

By:

Name:

Title:

1 To be added only if the consent of the
Administrative Borrower is required pursuant to Section 14.1(a)(ii) of
the Second Amended and Restated Loan and Security Agreement.

2 To be added only if the consent of the
Administrative Borrower is required pursuant to Section 14.1(a)(ii) of
the Second Amended and Restated Loan and Security Agreement.

3EX-10.4

FORM OF

AMENDED AND RESTATED GUARANTY

April [__], 2007

Wells Fargo Bank, National Association, as Agent

121 Park Center Plaza, 3rd Floor

San Jose, California 95113

	 	 	 	Re: Smart Modular Technologies, Inc., a California corporation (“US Borrower”),
Smart Modular Technologies (Europe) Limited, a company organized under the laws of
England and Wales (“UK Borrower”), and Smart Modular Technologies (Puerto Rico) Inc., a
corporation organized under the laws of the Cayman Islands (“PR Borrower” and together
with US Borrower and UK Borrower, collectively referred to herein as “Borrowers”)

Ladies and Gentlemen:

Wells Fargo Foothill, Inc., as arranger and administrative agent (in such capacity, “Original
Agent”) for certain lenders (“Original Lenders”), Original Lenders and Borrowers have previously
entered into that certain Amended and Restated Loan and Security Agreement, dated as of March 28,
2005 (as amended, amended and restated, supplemented, and/or otherwise modified from time to time,
the “Original Loan Agreement”), by and among Borrowers, Original Agent, Original Lenders, and the
other Obligors identified on the signature pages thereto pursuant to which, among other things,
Original Lenders have provided certain credit and other financial accommodations to Borrowers. The
obligations arising under the Original Loan Agreement were guaranteed by [     ], a
[     ] organized under the laws of [     ] (“Guarantor”), pursuant
to the terms of that certain Guaranty, dated as of March 28, 2005 (as amended, amended and
restated, supplemented, and/or otherwise modified from time to time, the “Original Guaranty”).

Borrowers have requested that the Original Loan Agreement be amended and restated in its
entirety, as set forth in that certain Second Amended and Restated Loan and Security Agreement,
dated as of April [     ], 2007 (the “Amended and Restated Loan Agreement”), by and among Borrowers,
the Guarantor and other obligors named therein, the lenders identified on the signature pages
thereto (such lenders, together with their respective successors and permitted assigns, are
referred to hereinafter each individually as a “Lender” and collectively as the “Lenders”) and
Wells Fargo Bank, National Association, as the arranger, administrative agent and security trustee
for Lenders (“Agent”), pursuant to which, among other things, (i) the Maximum Revolver Amount
available under the Original Loan Agreement will be increased, (ii) certain financial covenants
applicable to Borrowers will be amended, and (iii) certain other changes will be made to the terms
and provisions of the Original Loan Agreement.

As a condition to entering into the Amended and Restated Loan Agreement and continuing to
provide loans, advances, credit and certain other financial accommodations to the US Borrower, UK
Borrower and PR Borrower (collectively, the “Applicable Borrowers” and each an “Applicable
Borrower”) under the Amended and Restated Loan Agreement, Lenders have required, among other
things, that Guarantor reaffirm its guaranty of the Obligations by amending and restating the
Original Guaranty and entering into and delivering this Amended and Restated Guaranty (this
“Amended and Restated Guaranty”).1

Guarantor, as an affiliate of Borrowers, will substantially benefit, directly or
indirectly, from the credit and other financial accommodations extended by Lenders to the
Borrowers.

The Amended and Restated Loan Agreement, Amended and Restated Guaranty and other agreements,
documents and instruments referred to in the Amended and Restated Loan Agreement are defined as the
“Loan Documents”. Initially capitalized terms used herein without definitions shall have the
meanings given in the Amended and Restated Loan Agreement.

Now, therefore, for value received, and in consideration of advances made or to be
made, or credit accommodations given or to be given, to the Borrowers by the Lenders from time to
time, Guarantor hereby agrees in favor of Agent, Lenders and the Bank Product Providers
(collectively, the “Lender Parties” and each a “Lender Party”) as follows:

1. Guaranty.

(a) Guarantor absolutely, unconditionally and irrevocably guarantees and agrees to be liable
for the full payment and performance when due, whether at stated maturity, by required prepayment,
declaration, acceleration, demand or otherwise, of the Obligations (as defined in the Amended and
Restated Loan Agreement) of each Applicable Borrower (all of which obligations of Guarantor are
collectively referred to herein as the “Guaranteed Obligations”); provided, however, that Guarantor
shall only be liable under this Amended and Restated Guaranty for the maximum amount of such
liability that can be hereby incurred without rendering this Amended and Restated Guaranty, as it
relates to Guarantor, voidable under applicable laws relating to fraudulent conveyance
or fraudulent transfer and not for any greater amount.

(b) This Amended and Restated Guaranty is a guaranty of payment and not of collection.
Guarantor agrees that no Lender Party need attempt to collect any Guaranteed Obligations from any
Applicable Borrower, Guarantor or any other Obligor or to realize upon any collateral, but may
require Guarantor to make immediate payment of all of the Guaranteed Obligations to Agent, for the
benefit of Lender Parties, when due, whether by maturity, acceleration or otherwise, or at any time
thereafter. Agent may apply any amounts received in respect of the Guaranteed Obligations to any
of the Guaranteed Obligations, in whole or in part and in such order as Agent may elect in
accordance with the Amended and Restated Loan Agreement.

(c) Payment by Guarantor shall be made in Dollars to Agent, for the benefit of Lender Parties,
at the office of Agent from time to time on demand as Guaranteed Obligations become due. Guarantor
shall make all payments to Agent, for the benefit of Lender Parties, on the Guaranteed Obligations
free and clear of, and without deduction or withholding for or on account of, any setoff,
counterclaim, defense, duties, taxes, levies, imposts, fees, deductions, withholding, restrictions
or conditions of any kind as provided in the Amended and Restated Loan Agreement. One or more
successive or concurrent actions may be brought hereon against Guarantor either in the same action
in which any Applicable Borrower or any other Obligor is sued or in separate actions. In the event
any claim or action, or action on any judgment, based on this Amended and Restated Guaranty is
brought against Guarantor, Guarantor agrees, to the extent permitted by applicable law, not to
deduct, set-off, or seek any counterclaim for or recoup any amounts which are or may be owed by
Agent or any other Lender Party to Guarantor. Pursuant to the terms of and subject to the
limitations set forth in the Amended and Restated Loan Agreement, if any taxes are levied or
imposed by any jurisdiction or any political subdivision or taxing authority with respect to any
payments made hereunder, Guarantor agrees to pay the full amount of such taxes, and such additional
amounts as may be necessary so that every payment of all amounts due under this Amended and
Restated Guaranty, will not be less than the amount provided for herein.

2. Waivers and Consents.

(a) Notice of acceptance of this Amended and Restated Guaranty, the making of loans and
advances and providing other financial accommodations to Borrowers and presentment, demand,
protest, notice of protest, notice of nonpayment or default and all other notices to which any
Applicable Borrower or Guarantor is entitled are hereby waived by Guarantor. Guarantor also, to
the extent permitted by applicable law, waives notice of and hereby consents to (i) any amendment,
modification, supplement, waiver, extension, renewal, or restatement of the Amended and Restated
Loan Agreement and any of the other Loan Documents, including without limitation, extensions of
time of payment of or increase or decrease in the amount of any of the Guaranteed Obligations, the
interest rate, fees, other charges, or any collateral, and, to the extent permitted by applicable
law, the guaranty made herein shall apply to the Amended and Restated Loan Agreement and the other
Loan Documents and the Guaranteed Obligations as so amended, modified, supplemented, renewed,
restated or extended, increased or decreased, (ii) the taking, exchange, surrender and releasing of
collateral or guaranties now or at any time held by or available to Lender for the obligations of
any Applicable Borrower or any other party at any time liable on or in respect of the Guaranteed
Obligations or who is the owner of any property which is security for the Guaranteed Obligations
(individually, an “Obligor” and collectively, the “Obligors”), (iii) the exercise of, or refraining
from the exercise of any rights against any Applicable Borrower or any other Obligor or any
collateral, (iv) the settlement, compromise or release of, or the waiver of any default with
respect to, any of the Guaranteed Obligations and (v) any financing by Agent or any Lender of any
Applicable Borrower under Section 364 of the United States Bankruptcy Code or consent to the use of
cash collateral by Agent or Lenders under Section 363 of the United States Bankruptcy Code (it
being understood that the waiver set forth in this clause (v) is not intended to either (x) impair
or otherwise limit any right of the Applicable Borrower(s) to consent or object to any financing
described in this clause (v) or (y) create any liability or other obligation of the Guarantor under
any such financing unless the Guarantor expressly consents to the incurrence by it at such time).
Guarantor agrees that the amount of the Guaranteed Obligations shall not be diminished and the
liability of Guarantor hereunder shall not be otherwise impaired or affected by any of the
foregoing.

(b) To the extent permitted by applicable law, no invalidity, irregularity or unenforceability
of all or any part of the Guaranteed Obligations shall affect, impair or be a defense to this
Amended and Restated Guaranty, nor shall any other circumstance which might otherwise constitute a
defense available to or legal or equitable discharge of any Applicable Borrower in respect of any
of the Guaranteed Obligations, or Guarantor in respect of this Amended and Restated Guaranty,
affect, impair or be a defense to this Amended and Restated Guaranty. Without limitation of the
foregoing, the liability of Guarantor hereunder shall not, to the extent permitted by applicable
law, be discharged or impaired in any respect by reason of any failure by Agent or Lenders to
perfect or continue perfection of any lien or security interest in any collateral or any delay by
Agent or Lenders in perfecting any such lien or security interest. Guarantor shall be liable for
interest, fees and expenses, whether arising before or after the commencement of any case with
respect to any Applicable Borrower under the United States Bankruptcy Code or any similar statute,
that constitute Guaranteed Obligations, even if such Applicable Borrower’s liability for such
amounts does not, or ceases to, exist by operation of law. Guarantor acknowledges that neither
Agent nor any Lender has made any representations to Guarantor with respect to any Applicable
Borrower, any other Obligor or otherwise in connection with the execution and delivery by Guarantor
of this Amended and Restated Guaranty and Guarantor is not in any respect relying upon Agent, any
Lender or any statements by Agent or any Lender in connection with this Amended and Restated
Guaranty.

(c) Until the Release Date has occurred (as defined below), Guarantor hereby irrevocably and
unconditionally waives and relinquishes all statutory, contractual, common law, equitable and all
other claims against any Applicable Borrower, any of its collateral for the Guaranteed Obligations
or other assets of any Applicable Borrower or any other Obligor, for subrogation, reimbursement,
exoneration, contribution, indemnification, setoff or other recourse in respect to sums paid or
payable to Agent or any Lender by Guarantor hereunder and Guarantor hereby further irrevocably and
unconditionally waives and relinquishes any and all other benefits which Guarantor might otherwise
directly or indirectly receive or be entitled to receive by reason of any amounts paid by or
collected or due from Guarantor, any Applicable Borrower or any other Obligor upon the Guaranteed
Obligations or realized from their property.

(d) Guarantor hereby irrevocably and unconditionally, to the fullest extent permitted by
applicable law, waives and relinquishes any right to revoke this Amended and Restated Guaranty that
Guarantor may now have or hereafter acquire.

(e) Without limiting the generality of any other waiver or other provision set forth in this
Amended and Restated Guaranty, and to the fullest extent permitted by applicable law, Guarantor
hereby irrevocably and unconditionally waives all rights and defenses arising out of an election of
remedies by Agent or any Lender, even though that election of remedies, such as a nonjudicial
foreclosure with respect to security for a Guaranteed Obligation, has destroyed Guarantor’s rights
of subrogation and reimbursement against any Applicable Borrower.

(f) Without limiting the generality of any other waiver or other provision set
forth in this Amended and Restated Guaranty, to the fullest extent permitted by applicable law,
Guarantor waives all rights and defenses that Guarantor may have because the Guaranteed Obligations
are secured by real property. This means, among other things, that, to the fullest extent
permitted by applicable law: (i) Lender Parties may collect from Guarantor without first
foreclosing on any real or personal property collateral pledged by any Applicable Borrower; and
(ii) if Lender Parties foreclose on any real property collateral pledged by any Applicable
Borrower: (A) the amount of the Guaranteed Obligations may be reduced only by the price for which
that collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale
price and (B) the Lender Parties may collect from Guarantor even if Lender Parties, by foreclosing
on the real property collateral, have destroyed any right Guarantor may have to collect from any
Applicable Borrower. This is an unconditional and irrevocable waiver of any rights and defenses
Guarantor may have because the Guaranteed Obligations are secured by real property.

(g) Without limiting the generality of any other waiver or other provision set forth in this
Amended and Restated Guaranty, Guarantor hereby irrevocably and unconditionally waives and
relinquishes, to the maximum extent such waiver or relinquishment is permitted by applicable law,
all rights to interpose any claims, deductions, setoffs or counterclaims of any nature (other than
compulsory counterclaims) in any action or proceeding with respect to this Amended and Restated
Guaranty, Guarantor’s obligations hereunder or any matter arising from or related to the foregoing.

3. Subordination. Payment of all amounts now or hereafter owed to Guarantor by any Applicable
Borrower or any other Obligor is hereby subordinated in accordance with the terms of the
Intercompany Subordination Agreement.

4. Acceleration. Notwithstanding anything to the contrary contained herein or any of the
terms of any of the other Loan Documents, the liability of Guarantor for the entirety of the
Guaranteed Obligations shall mature and become immediately due and payable, even if the liability
of any Applicable Borrower or any other Obligor therefor does not, upon the occurrence of any act,
condition or event which constitutes an Event of Default under Section 8.4 or 8.5 of the Amended
and Restated Loan Agreement.

5. Account Stated. The books and records of Agent showing the account between Agent and
Lenders on the one hand, and each Applicable Borrower on the other, shall be admissible in evidence
in any action or proceeding against or involving Guarantor as prima facie proof of the items
therein set forth, and the monthly statements of Agent rendered to any Applicable Borrower, to the
extent to which no written objection is made within thirty (30) days from the date of sending
thereof to such Applicable Borrower, shall be deemed conclusively correct and constitute an account
stated between Agent and Lender on the one hand, and such Applicable Borrower on the other, and be
binding on Guarantor.

6. Representations and Warranties. Guarantor hereby represents and warrants to
Agent and Lenders the following (which shall survive the execution and delivery of this Amended and
Restated Guaranty):

(a) Affirmation of Representations and Warranties. The representations and warranties
contained in Section 5 of the Amended and Restated Loan Agreement made with regard to Guarantor are
true and correct in all material respects on and as of the date hereof (except to the extent that
such representations and warranties relate solely to an earlier date.

(b) Guarantor’s Knowledge; Agent’s and Lenders’ Obligations. Guarantor has knowledge of each
Applicable Borrower’s and each other Obligor’s financial condition and affairs and has adequate
means to obtain from each Applicable Borrower and each other Obligor on an ongoing basis
information relating thereto. Guarantor has knowledge of each Applicable Borrower’s and Obligors’
ability to pay and perform their obligations under the Loan Documents, and agrees to assume the
responsibility for keeping, and to keep, so informed for so long as this Amended and Restated
Guaranty is in effect. Guarantor acknowledges and agrees that the Lenders and the Agent shall have
no obligation to investigate the financial condition or affairs of any Applicable Borrower or any
Obligor for the benefit of Guarantor nor to advise Guarantor of any fact respecting, or any change
in, the financial condition or affairs of any Applicable Borrower or any Obligor that might become
known to the Agent or any Lender at any time, whether or not Agent or such Lender knows or believes
or has reason to know or believe that any such fact or change is unknown to Guarantor, or might (or
does) materially increase the risk of Guarantor as guarantor, or might (or would) affect the
willingness of Guarantor to continue as a guarantor of the obligations of any Applicable Borrower
under the Loan Documents.

7. Costs and Expenses. Guarantor shall pay to Agent on demand all costs, expenses, filing
fees required to be paid by it under the Amended and Restated Loan Agreement.

8. Events of Default and Remedies.

(a) Events of Default. The occurrence or existence of any Event of Default under the Amended
and Restated Loan Agreement is referred to herein individually as an “Event of Default”, and
collectively as “Events of Default”.

(b) Remedies.

(i) At any time upon the occurrence and during the continuance of an Event of Default,
Agent and Lenders shall have all rights and remedies provided in this Amended and Restated
Guaranty, the other Loan Documents, and applicable law, all of which rights and remedies may
be exercised without notice to or consent by Guarantor or any Obligor, except as such notice
or consent is expressly provided for hereunder or required by applicable law. All rights,
remedies and powers granted to Agent or Lenders hereunder, or under any of the other Loan
Documents, or applicable law, are cumulative, not exclusive and enforceable in Agent’s
discretion, alternatively, successively, or concurrently on any one or more occasions, and
shall include, without limitation, the right to apply to a court of equity for an injunction
to restrain a breach or threatened breach by Guarantor of this Amended and Restated Guaranty
or any of the other Loan Documents. Agent may, at any time or times, proceed directly
against Guarantor or any Obligor to collect the Guaranteed Obligations without prior
recourse to any collateral.

(ii) Without limiting the foregoing, at any time upon the occurrence and during the
continuance of an Event of Default, Agent may, in its discretion and without limitation,
accelerate the payment of all Guaranteed Obligations and demand immediate payment thereof to
Agent, for the benefit of Lenders, (provided that, upon the occurrence of any
Event of Default described in Sections 8.4 and 8.5 of the Amended and Restated
Loan Agreement, all Guaranteed Obligations shall automatically become immediately due and
payable).

9. Termination. This Amended and Restated Guaranty is continuing, unlimited,
absolute and unconditional. All Guaranteed Obligations shall be conclusively presumed to have been
created in reliance on this Amended and Restated Guaranty. Guarantor shall continue to be liable
hereunder until the earliest to occur (the “Release Date”) of: (i) the payment in full in cash of
the Guaranteed Obligations (other than unmatured contingent Guaranteed Obligations) and the
termination of the Commitments; (ii) the sale or other disposition of the Guarantor in a
transaction permitted under the Amended and Restated Loan Agreement; and (iii) any other release of
the Guarantor permitted under the Amended and Restated Loan Agreement. This Amended and Restated
Guaranty may not be terminated and shall continue so long as the Amended and Restated Loan
Agreement shall be in effect (whether during its original term or any renewal or extension thereof)
or any Guaranteed Obligations (other than unmatured contingent Guaranteed Obligations) shall be
outstanding. From and after the Release Date, Agent shall, at the expense of Guarantor, execute
and deliver such documents as may be requested by Guarantor to evidence such release.

10. Reinstatement. If any payment of any Guaranteed Obligation is invalidated,
declared to be fraudulent or preferential, set aside, rescinded or, if after receipt of any payment
of, or proceeds of collateral applied to the payment of, any of the Guaranteed Obligations, Agent
or any Lender is required to surrender, return or otherwise restore such payment or proceeds to any
Person for any reason, then the Guaranteed Obligations intended to be satisfied by such payment or
proceeds shall be reinstated and continue and this Amended and Restated Guaranty shall continue in
full force and effect as if such payment or proceeds had not been received by Agent or such Lender.
Guarantor shall be liable to pay to Agent, for the benefit of Lenders, and does indemnify and
hold Agent and Lenders harmless for the amount of any payments or proceeds surrendered, returned,
rescinded or invalidated. This Section 10 shall remain effective notwithstanding any contrary
action which may be taken by Agent or any Lender in reliance upon such payment or proceeds. This
Section 10 shall survive the termination of this Amended and Restated Guaranty.

11. Notices. All notices, requests and demands to or upon Guarantor or Agent under this
Amended and Restated Guaranty shall be given in the manner prescribed by the Amended and Restated
Loan Agreement.

12. CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER.

(a) THIS AMENDED AND RESTATED GUARANTY SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO
ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW),
AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
WITH SUCH LAWS.

(b) TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF GUARANTOR AND AGENT HEREBY WAIVES ITS
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AMENDED
AND RESTATED GUARANTY, ANY OTHER LOAN DOCUMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN,
INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR
STATUTORY CLAIMS. EACH OF GUARANTOR AND AGENT REPRESENTS THAT IT HAS REVIEWED THIS WAIVER AND
KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.
IN THE EVENT OF LITIGATION, A COPY OF THIS AMENDED AND RESTATED GUARANTY MAY BE FILED AS A WRITTEN
CONSENT TO A TRIAL BY THE COURT.

13. Successors. This Amended and Restated Guaranty shall bind and inure to the benefit of the
respective successors and assigns of each of the parties; provided, however, that, except in
connection with transactions permitted under the Amended and Restated Loan Agreement, Guarantor may
not assign this Amended and Restated Guaranty or any rights or duties hereunder without the Agent’s
prior written consent and any prohibited assignment shall be absolutely void ab initio. Except as
permitted under the Amended and Restated Loan Agreement, no consent to assignment by the Agent or
any Lender shall release Guarantor from its obligations hereunder. Agent and Lenders may assign
this Amended and Restated Guaranty and their respective rights and duties hereunder pursuant to
the terms of the Amended and Restated Loan Agreement and, except as expressly required pursuant to
and to the extent permitted by the terms thereof, no consent or approval by Guarantor is required
in connection with any such assignment. The liquidation, dissolution or termination of Guarantor
shall not terminate this Amended and Restated Guaranty as to such entity or as to Guarantor.

14. Amendments and Waivers. No amendment or waiver of any provision of this Amended and
Restated Guaranty, and no consent with respect to any departure by Guarantor therefrom, shall be
effective unless the same shall be in writing and signed by the Agent and Guarantor and made in
compliance with the terms of the Amended and Restated Loan Agreement, and then any such waiver or
consent shall be effective only in the specific instance and for the specific purpose for which
given. No failure by Agent or any other Lender Party to exercise any right, remedy, or option
under this Amended and Restated Guaranty, or delay by Agent or any other Lender Party in exercising
the same, will operate as a waiver thereof. No waiver by Agent on any occasion shall affect or
diminish Agent’s and each Lender Party’s rights thereafter to require strict performance by
Guarantor of any provision of this Amended and Restated Guaranty. Agent’s and each Lender Party’s
rights under this Amended and Restated Guaranty will be cumulative and not exclusive of any other
right or remedy that Agent or any Lender Party may have.

15. Effectiveness. This Amended and Restated Guaranty shall be binding and deemed
effective when executed and delivered by Guarantor and Agent and Closing Date under the Amended
and Restated Loan Agreement shall have occurred.

16. Section Headings. Headings and numbers have been set forth herein for
convenience only. Unless the contrary is compelled by the context, everything contained in each
Section applies equally to this entire Agreement.

17. Severability of Provisions. Each provision of this Amended and Restated
Guaranty shall be severable from every other provision of this Amended and Restated Guaranty for
the purpose of determining the legal enforceability of any specific provision.

18. Counterparts; Telefacsimile Execution. This Amended and Restated Guaranty may be executed
in any number of counterparts and by different parties on separate counterparts, each of which,
when executed and delivered, shall be deemed to be an original, and all of which, when taken
together, shall constitute but one and the same agreement. Delivery of an executed counterpart of
this Amended and Restated Guaranty by telefacsimile shall be equally as effective as delivery of an
original executed counterpart of this Amended and Restated Guaranty. Any party delivering an
executed counterpart of this Amended and Restated Guaranty by telefacsimile also shall deliver an
original executed counterpart of this Amended and Restated Guaranty but the failure to deliver an
original executed counterpart shall not affect the validity, enforceability, and binding effect of
this Amended and Restated Guaranty.

19. Jurisdiction, Service of Process and Venue.

(a) Each party hereto irrevocably and unconditionally submits, to the extent permitted by
applicable law, to any suit, action or proceeding with respect to this Amended and Restated
Guaranty or any other Loan Document or any judgment entered by any court in respect thereof to the
jurisdiction of (i) the United States District Court for the Southern District of New York or the
Supreme Court of the State of New York, County of New York, and any appellate court from any
thereof, and (ii) to the courts of its own corporate domicile, at the election of the plaintiff, in
respect of actions brought against it as a defendant, and irrevocably submits, to the extent
permitted by applicable law, to the non-exclusive jurisdiction of each such court for the purpose
of any such suit, action, proceeding or judgment.

(b) Nothing herein shall in any way be deemed to limit the ability of Agent or any Lender to
serve any such process or summons in any other manner permitted by applicable law.

(c) To the extent provided by applicable law, in any such litigation, Agent and Lenders shall
be entitled to the benefit of the rebuttable presumption that they acted in good faith and with the
exercise of ordinary care in the performance by it of the terms of the Amended and Restated Loan
Agreement and the other Loan Documents.

20. Additional Provisions. Notwithstanding any provision to the contrary contained in this
Amended and Restated Guaranty:

(a) notwithstanding that this Amended and Restated Guaranty ceases to be continuing for any
reason whatever the Agent and the Lender Group and the Bank Product Providers may continue any
accounts of Guarantor or open one or more new accounts and the liability of Guarantor hereunder
shall not in any manner be reduced or affected by any subsequent transactions or receipts or
payments into or out of any such accounts;

(b) all moneys received, recovered or realized by the Agent and the Lender Group and the Bank
Product Providers under or pursuant to this Amended and Restated Guaranty (including proceeds of
any conversion of currency) may in their discretion be credited to and held in any suspense or
impersonal account pending their application from time to time in or towards the discharge of

this Amended and Restated Guaranty;

21 Entire Agreement. This Amended and Restated Guaranty, in conjunction with the other Loan
Documents, represents the entire agreement and understanding of the parties concerning the subject
matter hereof, and supersedes all other prior agreements, understandings, negotiations and
discussions representations, warranties, commitments, proposals, offers and contracts concerning
the subject matter hereof whether oral or written.

22. Construction. All references to the term “Guarantor” wherever used herein
shall mean Guarantor and its successors and assigns (including, without limitation, any receiver,
trustee or custodian for Guarantor or any of its assets or Guarantor in its capacity as debtor or
Debtor-in-possession under the United States Bankruptcy Code). All references to the term “Agent”
wherever used herein shall mean Agent and its successors and assigns; all references to the term
“Lenders” wherever used herein shall mean Lenders and their respective successors and assigns; all
references to the term “Applicable Borrower” wherever used herein shall mean such Applicable
Borrower and its successors and assigns (including, without limitation, any receiver, trustee or
custodian for such Applicable Borrower or any of its assets or such Applicable Borrower in its
capacity as debtor or debtor-in-possession under the United States Bankruptcy Code). All
references to the term “Person” or “person” wherever used herein shall mean any individual,
sole proprietorship, partnership, corporation (including, without limitation, any corporation
which elects subchapter S status under the Internal Revenue Code of 1986, as amended),
limited liability company, limited liability partnership, business trust, unincorporated
association, joint stock corporation, trust, joint venture or other entity or any government or any
agency or instrumentality or political subdivision thereof. All references to the plural shall
also mean the singular and to the singular shall also mean the plural. Section, subsection,
clause, schedule, and exhibit references herein are to this Amended and Restated Guaranty unless
otherwise specified.

1

IN WITNESS WHEREOF, Guarantor has executed and delivered this Amended and Restated Guaranty as of
the day and year first above written.

	 	 	 	 	 
	   EXECUTED AS A DEED BY:

	 
	 	 	[___________________________]	 
	   By:

	   Title:

	   IN THE PRESENCE OF:

	   Witness: _____________________________

	   Name:  ______________________________

	   Chief Executive Office

	 
	 	 	—	 
	 
	 	 	—	 
	 
	 	 	—	 
	   Attn: _____________________________

	   Fax:  _____________________________

	ACCEPTED AND AGREED
this __ day of _____, 2007
	 	 	 	 
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Agent
By:
	 	 	 	 
	Title:
	 	 	 	 

1 Subject to guaranty parties set forth in the definition
of Guarantor in the Amended and Restated Loan Agreement.

2

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