Document:

exv10w1

Exhibit 10.1

 

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

dated as of March 14, 2007

among

ROADRUNNER DAWES FREIGHT SYSTEMS, INC.,

SARGENT TRUCKING, INC.,

BIG ROCK TRANSPORTATION, INC.,

MIDWEST CARRIERS, INC.,

SMITH TRUCK BROKERS, INC. and

B&J TRANSPORTATION, INC.,

each as a Borrower,

THE VARIOUS FINANCIAL INSTITUTIONS PARTY HERETO,

as Lenders,

LASALLE BANK NATIONAL ASSOCIATION,

as Administrative Agent

and

U.S. BANK NATIONAL ASSOCIATION,

as Syndication Agent

LASALLE BANK NATIONAL ASSOCIATION,

as Arranger

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 
	 	 	 	 	 	 	 	 
	SECTION 1.	 	DEFINITIONS	 	 	3	 
	 
	 	 	 	 	 	 	 	 
	1.1.	 	Definitions	 	 	3	 
	1.2.	 	Other Interpretive Provisions	 	 	26	 
	 
	 	 	 	 	 	 	 	 
	SECTION 2.	 	COMMITMENTS OF THE LENDERS; BORROWING, CONVERSION AND LETTER OF CREDIT PROCEDURES	 	 	27	 
	 
	 	 	 	 	 	 	 	 
	2.1.	 	Commitments	 	 	27	 
	 
	 	2.1.1.	 	Revolving Commitment	 	 	27	 
	 
	 	2.1.2.	 	Term Loan Commitment	 	 	27	 
	 
	 	2.1.3.	 	L/C Commitment	 	 	27	 
	2.2.	 	Loan Procedures	 	 	28	 
	 
	 	2.2.1.	 	Various Types of Loans	 	 	28	 
	 
	 	2.2.2.	 	Borrowing Procedures	 	 	28	 
	 
	 	2.2.3.	 	Conversion and Continuation Procedures	 	 	28	 
	 
	 	2.2.4.	 	Swing Line Facility	 	 	29	 
	2.3.	 	Letter of Credit Procedures	 	 	32	 
	 
	 	2.3.1.	 	L/C Applications	 	 	32	 
	 
	 	2.3.2.	 	Participations in Letters of Credit	 	 	32	 
	 
	 	2.3.3.	 	Reimbursement Obligations	 	 	33	 
	 
	 	2.3.4.	 	Funding by Lenders to Issuing Lender	 	 	34	 
	2.4.	 	Commitments Several	 	 	34	 
	2.5.	 	Certain Conditions	 	 	34	 
	2.6.	 	Effect of Amendment and Restatement	 	 	35	 
	2.7.	 	Joint and Several Liability	 	 	35	 
	2.8.	 	Borrower Representative	 	 	37	 
	 
	 	 	 	 	 	 	 	 
	SECTION 3.	 	EVIDENCING OF LOANS	 	 	37	 
	 
	 	 	 	 	 	 	 	 
	3.1.	 	Notes	 	 	37	 
	3.2.	 	Recordkeeping	 	 	38	 
	 
	 	 	 	 	 	 	 	 
	SECTION 4.	 	INTEREST	 	 	38	 
	 
	 	 	 	 	 	 	 	 
	4.1.	 	Interest Rates	 	 	38	 
	4.2.	 	Interest Payment Dates	 	 	38	 
	4.3.	 	Setting and Notice of LIBOR Rates	 	 	39	 
	4.4.	 	Computation of Interest	 	 	39	 
	 
	 	 	 	 	 	 	 	 
	SECTION 5.	 	FEES	 	 	39	 
	 
	 	 	 	 	 	 	 	 
	5.1.	 	Non Use Fee	 	 	39	 
	5.2.	 	Letter of Credit Fees	 	 	39	 
	5.3.	 	Administrative Agent’s Fees	 	 	40	 

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	 	 	 	 	 	 	Page	 
	 
	 	 	 	 	 	 	 	 
	SECTION 6.	 	REDUCTION OR TERMINATION OF THE REVOLVING COMMITMENT;
PREPAYMENTS	 	 	40	 
	 
	 	 	 	 	 	 	 	 
	6.1.	 	Reduction or Termination of the Revolving Commitment	 	 	40	 
	 
	 	6.1.1.	 	Voluntary Reduction or Termination of the Revolving Commitment	 	 	40	 
	 
	 	6.1.2.	 	No Mandatory Reductions of Revolving Commitment	 	 	40	 
	 
	 	6.1.3.	 	All Reductions of the Revolving Commitment	 	 	40	 
	6.2.	 	Prepayments	 	 	41	 
	 
	 	6.2.1.	 	Voluntary Prepayments	 	 	41	 
	 
	 	6.2.2.	 	Mandatory Prepayments	 	 	41	 
	6.3.	 	Manner of Prepayments	 	 	42	 
	 
	 	6.3.1.	 	All Prepayments	 	 	42	 
	6.4.	 	Repayments	 	 	42	 
	 
	 	6.4.1.	 	Revolving Loans	 	 	42	 
	 
	 	6.4.2.	 	Term Loan	 	 	42	 
	 
	 	 	 	 	 	 	 	 
	SECTION 7.	 	MAKING AND PRORATION OF PAYMENTS; SETOFF; TAXES	 	 	43	 
	 
	 	 	 	 	 	 	 	 
	7.1.	 	Making of Payments	 	 	43	 
	7.2.	 	Application of Certain Payments	 	 	43	 
	7.3.	 	Due Date Extension	 	 	43	 
	7.4.	 	Setoff	 	 	44	 
	7.5.	 	Proration of Payments	 	 	44	 
	7.6.	 	Taxes	 	 	44	 
	 
	 	 	 	 	 	 	 	 
	SECTION 8.	 	INCREASED COSTS; SPECIAL PROVISIONS FOR LIBOR LOANS	 	 	46	 
	 
	 	 	 	 	 	 	 	 
	8.1.	 	Increased Costs	 	 	46	 
	8.2.	 	Basis for Determining Interest Rate Inadequate or Unfair	 	 	47	 
	8.3.	 	Changes in Law Rendering LIBOR Loans Unlawful	 	 	48	 
	8.4.	 	Funding Losses	 	 	48	 
	8.5.	 	Right of Lenders to Fund through Other Offices	 	 	48	 
	8.6.	 	Discretion of Lenders as to Manner of Funding	 	 	49	 
	8.7.	 	Mitigation of Circumstances; Replacement of Lenders	 	 	49	 
	8.8.	 	Conclusiveness of Statements; Survival of Provisions	 	 	49	 
	 
	 	 	 	 	 	 	 	 
	SECTION 9.	 	REPRESENTATIONS AND WARRANTIES	 	 	50	 
	 
	 	 	 	 	 	 	 	 
	9.1.	 	Organization	 	 	50	 
	9.2.	 	Authorization; No Conflict	 	 	50	 
	9.3.	 	Validity and Binding Nature	 	 	50	 
	9.4.	 	Financial Condition	 	 	51	 
	9.5.	 	No Material Adverse Change	 	 	51	 
	9.6.	 	Litigation and Contingent Liabilities	 	 	51	 
	9.7.	 	Ownership of Properties; Liens	 	 	51	 
	9.8.	 	Equity Ownership; Subsidiaries	 	 	52	 
	9.9.	 	Pension Plans	 	 	52	 
	9.10.	 	Investment Company Act	 	 	53	 
	9.11.	 	[Intentionally Omitted]	 	 	53	 
	9.12.	 	Regulation U	 	 	53	 

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	 	 	 	 	 	 	Page	 
	 
	9.13.	 	Taxes	 	 	53	 
	9.14.	 	Solvency	 	 	53	 
	9.15.	 	Environmental Matters	 	 	54	 
	9.16.	 	Insurance	 	 	54	 
	9.17.	 	Real Property	 	 	54	 
	9.18.	 	Information	 	 	55	 
	9.19.	 	Intellectual Property	 	 	55	 
	9.20.	 	Burdensome Obligations	 	 	55	 
	9.21.	 	Labor Matters	 	 	55	 
	9.22.	 	No Default	 	 	55	 
	9.23.	 	Related Agreements	 	 	56	 
	 
	 	 	 	 	 	 	 	 
	SECTION 10.	 	AFFIRMATIVE COVENANTS	 	 	56	 
	 
	 	 	 	 	 	 	 	 
	10.1.	 	Reports, Certificates and Other Information	 	 	57	 
	 
	 	10.1.1.	 	Annual Report	 	 	57	 
	 
	 	10.1.2.	 	Interim Reports	 	 	57	 
	 
	 	10.1.3.	 	Compliance Certificates	 	 	58	 
	 
	 	10.1.4.	 	Excess Cash Flow Certificates	 	 	58	 
	 
	 	10.1.5.	 	Reports to the SEC and to Shareholders	 	 	58	 
	 
	 	10.1.6.	 	Notice of Default, Litigation and ERISA Matters	 	 	58	 
	 
	 	10.1.7.	 	Borrowing Base Certificates	 	 	59	 
	 
	 	10.1.8.	 	Management Reports	 	 	59	 
	 
	 	10.1.9.	 	Projections	 	 	59	 
	 
	 	10.1.10.	 	Subordinated Debt Notices	 	 	60	 
	 
	 	10.1.11.	 	Appraisal Reports	 	 	60	 
	 
	 	10.1.12.	 	Other Information	 	 	60	 
	10.2.	 	Books, Records and Inspections	 	 	60	 
	10.3.	 	Maintenance of Property; Insurance	 	 	61	 
	10.4.	 	Compliance with Laws; Payment of Taxes and Liabilities	 	 	62	 
	10.5.	 	Maintenance of
Existence, etc.	 	 	62	 
	10.6.	 	Use of Proceeds	 	 	63	 
	10.7.	 	Employee Benefit Plans	 	 	63	 
	10.8.	 	Environmental Matters	 	 	63	 
	10.9.	 	Further Assurances	 	 	64	 
	10.10.	 	Deposit Accounts	 	 	64	 
	10.11.	 	Interest Rate Protection	 	 	64	 
	 
	 	 	 	 	 	 	 	 
	SECTION 11.	 	NEGATIVE COVENANTS	 	 	64	 
	 
	 	 	 	 	 	 	 	 
	11.1.	 	Debt	 	 	65	 
	11.2.	 	Liens	 	 	66	 
	11.3.	 	Restricted Payments	 	 	67	 
	11.4.	 	Mergers, Consolidations, Sales	 	 	69	 
	11.5.	 	Modification of Organizational Documents	 	 	69	 
	11.6.	 	Transactions with Affiliates	 	 	69	 
	11.7.	 	Unconditional Purchase Obligations	 	 	70	 
	11.8.	 	Inconsistent Agreements	 	 	70	 

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	 	 	 	 	 	 	Page	 
	 
	11.9.	 	Business Activities; Issuance of Equity; Subsidiaries	 	 	70	 
	11.10.	 	Investments	 	 	70	 
	11.11.	 	Restriction of Amendments to Certain Documents	 	 	71	 
	11.12.	 	Fiscal Year; Accounting Changes	 	 	72	 
	11.13.	 	Financial Covenants	 	 	72	 
	 
	 	11.13.1.	 	Fixed Charge Coverage Ratio	 	 	72	 
	 
	 	11.13.2.	 	Senior Debt to EBITDA Ratio	 	 	72	 
	 
	 	11.13.3.	 	Total Debt to EBITDA Ratio	 	 	73	 
	11.14.	 	Cancellation of Debt	 	 	74	 
	11.15.	 	Additional Covenants	 	 	74	 
	 
	 	 	 	 	 	 	 	 
	SECTION 12.	 	EFFECTIVENESS;
CONDITIONS OF LENDING, ETC.	 	 	74	 
	 
	 	 	 	 	 	 	 	 
	12.1.	 	Initial Credit Extension	 	 	74	 
	 
	 	12.1.1.	 	Notes	 	 	75	 
	 
	 	12.1.2.	 	Authorization Documents	 	 	75	 
	 
	 	12.1.3.	 	Consents, etc.	 	 	75	 
	 
	 	12.1.4.	 	Letter of Direction	 	 	75	 
	 
	 	12.1.5.	 	Guaranty and Collateral Agreement	 	 	75	 
	 
	 	12.1.6.	 	Subordination Agreements	 	 	75	 
	 
	 	12.1.7.	 	Opinions of Counsel	 	 	75	 
	 
	 	12.1.8.	 	Insurance	 	 	76	 
	 
	 	12.1.9.	 	Copies of Documents	 	 	76	 
	 
	 	12.1.10.	 	Payment of Fees	 	 	76	 
	 
	 	12.1.11.	 	Pro Formas	 	 	76	 
	 
	 	12.1.12.	 	Search Results; Lien Terminations	 	 	76	 
	 
	 	12.1.13.	 	Filings, Registrations and Recordings	 	 	77	 
	 
	 	12.1.14.	 	Borrowing Base Certificate	 	 	77	 
	 
	 	12.1.15.	 	Maximum Revolving Loans	 	 	77	 
	 
	 	12.1.16.	 	Closing Certificate, Consents and Permits	 	 	77	 
	 
	 	12.1.17.	 	Real Estate Documents	 	 	77	 
	 
	 	12.1.18.	 	Collateral Access Agreement	 	 	78	 
	 
	 	12.1.19.	 	EBITDA	 	 	78	 
	 
	 	12.1.20.	 	Projections	 	 	78	 
	 
	 	12.1.21.	 	Other	 	 	78	 
	12.2.	 	Conditions	 	 	78	 
	 
	 	12.2.1.	 	Compliance with Warranties, No
Default, etc.	 	 	78	 
	 
	 	12.2.2.	 	Confirmatory Certificate	 	 	78	 
	 
	 	 	 	 	 	 	 	 
	SECTION 13.	 	EVENTS OF DEFAULT AND THEIR EFFECT	 	 	79	 
	 
	 	 	 	 	 	 	 	 
	13.1.	 	Events of Default	 	 	79	 
	 
	 	13.1.1.	 	Non Payment of the Loans, etc.	 	 	79	 
	 
	 	13.1.2.	 	Non Payment of Other Debt	 	 	79	 
	 
	 	13.1.3.	 	Other Material Obligations	 	 	79	 
	 
	 	13.1.4.	 	Bankruptcy, Insolvency, etc.	 	 	79	 
	 
	 	13.1.5.	 	Non Compliance with Loan Documents	 	 	80	 
	 
	 	13.1.6.	 	Representations; Warranties	 	 	80	 

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	 	 	 	 	 	 	Page	 
	 
	 
	 	13.1.7.	 	Pension Plans	 	 	80	 
	 
	 	13.1.8.	 	Judgments	 	 	81	 
	 
	 	13.1.9.	 	Invalidity of Collateral Documents, etc.	 	 	81	 
	 
	 	13.1.10.	 	Invalidity of Subordination Provisions, etc.	 	 	81	 
	 
	 	13.1.11.	 	Change of Control	 	 	81	 
	 
	 	13.1.12.	 	Material Adverse Effect	 	 	81	 
	 
	 	13.1.13.	 	Default Under Sponsor Make Whole Agreement	 	 	81	 
	13.2.	 	Effect of Event of Default	 	 	81	 
	 
	 	 	 	 	 	 	 	 
	SECTION 14.	 	THE AGENT	 	 	82	 
	 
	 	 	 	 	 	 	 	 
	14.1.	 	Appointment and Authorization	 	 	82	 
	14.2.	 	Issuing Lender	 	 	83	 
	14.3.	 	Delegation of Duties	 	 	83	 
	14.4.	 	Exculpation of Administrative Agent	 	 	83	 
	14.5.	 	Reliance by Administrative Agent	 	 	84	 
	14.6.	 	Notice of Default	 	 	84	 
	14.7.	 	Credit Decision	 	 	84	 
	14.8.	 	Indemnification	 	 	85	 
	14.9.	 	Administrative Agent in Individual Capacity	 	 	86	 
	14.10.	 	Successor Administrative Agent	 	 	86	 
	14.11.	 	Collateral Matters	 	 	86	 
	14.12.	 	Administrative Agent May File Proofs of Claim	 	 	87	 
	14.13.	 	Other Agents; Arrangers and Managers	 	 	88	 
	 
	 	 	 	 	 	 	 	 
	SECTION 15.	 	GENERAL	 	 	88	 
	 
	 	 	 	 	 	 	 	 
	15.1.	 	Waiver; Amendments	 	 	88	 
	15.2.	 	Confirmations	 	 	89	 
	15.3.	 	Notices	 	 	89	 
	15.4.	 	Computations	 	 	89	 
	15.5.	 	Costs, Expenses and Taxes	 	 	90	 
	15.6.	 	Assignments; Participations	 	 	91	 
	 
	 	15.6.1.	 	Assignments	 	 	91	 
	 
	 	15.6.2.	 	Participations	 	 	92	 
	15.7.	 	Register	 	 	92	 
	15.8.	 	GOVERNING LAW	 	 	93	 
	15.9.	 	Confidentiality	 	 	93	 
	15.10.	 	Severability	 	 	94	 
	15.11.	 	Nature of Remedies	 	 	94	 
	15.12.	 	Entire Agreement	 	 	94	 
	15.13.	 	Counterparts	 	 	94	 
	15.14.	 	Successors and Assigns	 	 	94	 
	15.15.	 	Captions	 	 	95	 
	15.16.	 	Customer Identification — USA Patriot Act Notice	 	 	95	 
	15.17.	 	INDEMNIFICATION BY BORROWERS	 	 	95	 
	15.18.	 	Nonliability of Lenders	 	 	96	 
	15.19.	 	FORUM SELECTION AND CONSENT TO JURISDICTION	 	 	97	 

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	 	 	 	 	 	 	Page	 
	 
	15.20.	 	WAIVER OF JURY TRIAL	 	 	97	 

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	ANNEXES

	 
	 	 
	ANNEX A

	 	Lenders and Pro Rata Shares
	ANNEX B

	 	Addresses for Notices
	 
	 	 
	SCHEDULES

	 
	 	 
	SCHEDULE 9.6

	 	Litigation and Contingent Liabilities
	SCHEDULE 9.8

	 	Capital Securities
	SCHEDULE 9.15

	 	Environmental Matters
	SCHEDULE 9.16

	 	Insurance
	SCHEDULE 9.17

	 	Real Property
	SCHEDULE 9.21

	 	Labor Matters
	SCHEDULE 11.1

	 	Existing Debt
	SCHEDULE 11.2

	 	Existing Liens
	SCHEDULE 11.10

	 	Investments
	SCHEDULE 12.1

	 	Debt to be Repaid
	 
	 	 
	EXHIBITS

	 
	 	 
	EXHIBIT A

	 	Form of Note (Section 3.1)
	EXHIBIT B

	 	Form of Compliance Certificate (Section 10.1.3)
	EXHIBIT C

	 	Form of Borrowing Base Certificate (Section 1.1)
	EXHIBIT D

	 	Form of Assignment Agreement (Section 15.6.1)
	EXHIBIT E

	 	Form of Notice of Borrowing (Section 2.2.2)
	EXHIBIT F

	 	Form of Notice of Conversion/Continuation (Section 2.2.3)
	EXHIBIT G

	 	Form of Excess Cash Flow Certificate (Section 10.1.4)

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SECOND AMENDED AND RESTATED CREDIT AGREEMENT

          THIS SECOND AMENDED AND RESTATED CREDIT AGREEMENT dated as of March 14, 2007 (as amended or
otherwise modified from time to time, this “Agreement”) is entered into among ROADRUNNER DAWES
FREIGHT SYSTEMS, INC., a Delaware corporation (“Roadrunner”), SARGENT TRUCKING, INC., a Maine
corporation (“Sargent”), BIG ROCK TRANSPORTATION, INC., an Indiana corporation (“Big Rock”),
MIDWEST CARRIERS, INC., an Indiana corporation (“Midwest”), SMITH TRUCK BROKERS, INC., a Maine
corporation (“Smith Truck”) and B&J TRANSPORTATION, INC., a Maine corporation (“B&J”; Sargent, Big
Rock, Midwest, Smith Truck and B&J each a “Sargent Company” and collectively the “Sargent
Companies”; the Sargent Companies and Roadrunner each a “Borrower” and collectively the
“Borrowers”), the financial institutions that are or may from time to time become parties hereto
(together with their respective successors and assigns, the “Lenders”), LASALLE BANK NATIONAL
ASSOCIATION (in its individual capacity, “LaSalle”), as administrative agent for the Lenders and
U.S. BANK NATIONAL ASSOCIATION, as Syndication Agent for the Lenders.

RECITALS:

          WHEREAS, to fund the repayment of certain indebtedness of Dawes Transport, Inc., a former
Wisconsin corporation (“Dawes”), to provide working capital financing for Dawes and to provide
funds for other general corporate purposes of Dawes, Dawes entered into that certain Credit
Agreement dated as of March 31, 2005, among Dawes, the various financial institutions party thereto
and LaSalle, individually and as agent for such financial institutions (as amended or otherwise
modified through June 6, 2005, the “Original Dawes Credit Agreement”); and

          WHEREAS, to secure all of its obligations, liabilities and indebtedness under the Original
Dawes Credit Agreement, Dawes pledged to the Administrative Agent, for the benefit of the
Administrative Agent and the “Lenders” under, and as such term is defined in, the Original Dawes
Credit Agreement (herein, the “Dawes Lenders”), certain capital stock of its Subsidiaries (as
defined therein) and granted to the Administrative Agent, for the benefit of the Administrative
Agent and the Dawes Lenders, a security interest in and lien upon substantially all of its personal
and real properties; and

          WHEREAS, to fund the repayment of certain indebtedness of Roadrunner Freight Systems, Inc., a
former Wisconsin corporation (“Old Roadrunner”), to provide working capital financing for Old
Roadrunner and to provide funds for other general corporate purposes of Old Roadrunner, Old
Roadrunner entered into that certain Credit Agreement dated as of July 25, 2003 between Old
Roadrunner and LaSalle (as amended or otherwise modified through June 6, 2005, the “Original
Roadrunner Credit Agreement”; the Original Dawes Credit Agreement and the Original Roadrunner
Credit Agreement together being referred to as the “Original Credit Agreements”); and

 

 

          WHEREAS, to secure all of its obligations, liabilities and indebtedness under the Original
Roadrunner Credit Agreement, Old Roadrunner granted to LaSalle a security interest in and lien upon
substantially all of its personal and real properties; and

          WHEREAS, LaSalle, the Dawes Lenders, Dawes and Old Roadrunner amended and restated the terms
and provisions of the Original Credit Agreements pursuant to the terms and conditions set forth in
that certain Amended and Restated Credit Agreement dated as of June 6, 2005 among LaSalle, the
Dawes Lenders, Dawes and Old Roadrunner (as amended or otherwise modified through the date hereof,
the “Restated Credit Agreement”); and

          WHEREAS, Roadrunner is successor-in-interest by merger to each of Dawes and Old Roadrunner;
and

          WHEREAS, Roadrunner Dawes, Inc., a Delaware corporation and the sole direct shareholder of
Roadrunner (“Holdings”), has (i) guaranteed all of the obligations, liabilities and indebtedness of
Roadrunner to LaSalle and the Dawes Lenders under the Restated Credit Agreement, (ii) pledged to
the Administrative Agent, for the benefit of the Administrative Agent, LaSalle and the Dawes
Lenders, all of the outstanding capital stock of Roadrunner and (iii) granted to the Administrative
Agent, for the benefit of the Administrative Agent, LaSalle and the Dawes Lenders, a security
interest in and lien upon substantially all of its personal property; and

          WHEREAS, on the Closing Date (as hereinafter defined in Section 1.1) the aggregate outstanding
principal balance amount of the “Loans” under, and as such term is defined in, the Restated Credit
Agreement, inclusive of accrued and unpaid interest on the “Term Loans”, as such term is defined in
the Restated Credit Agreement, is $56,141,446.47 (the “Credit Balance”); and

          WHEREAS, immediately prior to the Sargent Merger (as defined below), Sargent Transportation,
LLC, a Delaware limited liability company (“Sargent Holdings”) was a Wholly-Owned Subsidiary (as
hereinafter defined in Section 1.1) of Holdings; and

          WHEREAS, prior to the execution and delivery of this Agreement, Sargent Holdings merged with
Sargent Transportation Group, Inc., a former Delaware corporation and the then sole direct
shareholder of each of the Sargent Companies (“Sargent Holdings Corp.”), with Sargent Holdings
being the surviving entity of such merger (the “Sargent Merger”); and

          WHEREAS, the Sargent Merger was consummated pursuant to the terms of that certain Agreement
and Plan of Merger dated as of March 14, 2007 among Holdings, Sargent Holdings Corp. and Sargent
Holdings (the “Sargent Merger Agreement”); and

          WHEREAS, each of the Borrowers desires that the Lenders amend and restate the terms and
provisions of the Restated Credit Agreement pursuant to the terms and

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conditions set forth in this Agreement, thereby providing certain terms and revolving credit
facilities (which include letters of credit) to the Borrowers;

          WHEREAS, each of Holdings and Roadrunner desires to reaffirm, as applicable, its prior pledges
and grants of security interest made in connection with the Restated Credit Agreement, and to
confirm that such pledges and grants secure all of the Obligations (as hereinafter defined in
Section 1.1); and

          WHEREAS, each Sargent Company desires to grant to the Administrative Agent, for the benefit of
the Administrative Agent and the Lenders, a security interest in, and a lien upon, substantially
all of its personal properties to secure all of the Obligations; and

          WHEREAS, Sargent Holdings desires to (i) guarantee all of the Obligations under this
Agreement, (ii) pledge to the Administrative Agent, for the benefit of the Administrative Agent and
the Lenders, all of the outstanding capital stock of each Sargent Company and (iii) grant to the
Administrative Agent, for the benefit of the Administrative Agent and the Lenders, a security
interest in, and a lien upon, substantially all of its personal properties;

          NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants
herein contained, Borrowers, Lenders and Administrative Agent agree as follows:

     SECTION 1. DEFINITIONS.

          1.1. Definitions.

          When used herein the following terms shall have the following meanings:

          Account Debtor is defined in the Guaranty and Collateral Agreement.

          Account or Accounts is defined in the UCC.

          Acquisition means any transaction or series of related transactions for the purpose of
or resulting, directly or indirectly, in (a) the acquisition of all or substantially all of the
assets of a Person, or of all or substantially all of any business or division of a Person, (b) the
acquisition of in excess of 50% of the Capital Securities of any Person, or otherwise causing any
Person to become a Subsidiary, or (c) a merger or consolidation or any other combination with
another Person (other than a Person that is already a Subsidiary of the acquiring Person).

          Adjusted Current Assets means, as of any date of determination, the consolidated
current assets of Holdings and its Subsidiaries at such date minus, in each case to the
extent otherwise included in such consolidated current assets and without duplication, the sum of
(i) cash and cash equivalents and (ii) amounts due from Affiliates.

-3-

 

          Adjusted Current Liabilities means, as of any date of determination, the consolidated
current liabilities of Holdings and its Subsidiaries at such date minus, in each
case to the extent otherwise included in such consolidated current liabilities and without
duplication, the sum of (i) the current portion of Debt (including current maturities of long-term
Debt) of Holdings and its Subsidiaries, (ii) the outstanding amount of Revolving Loans and (iii)
amounts due to Affiliates.

          Adjusted Working Capital means, as of any date of determination, Adjusted Current
Assets as of such date minus Adjusted Current Liabilities as of such date.

          Administrative Agent means LaSalle in its capacity as administrative agent for the
Lenders hereunder and any successor thereto in such capacity.

          Affected Loan — see Section 8.3.

          Affiliate of any Person means (a) any other Person which, directly or indirectly,
controls or is controlled by or is under common control with such Person, (b) any officer or
director of such Person and (c) with respect to any Lender, any entity administered or managed by
such Lender or an Affiliate or investment advisor thereof and which is engaged in making,
purchasing, holding or otherwise investing in commercial loans. A Person shall be deemed to be
“controlled by” any other Person if such Person possesses, directly or indirectly, power to vote
10% or more of the securities (on a fully diluted basis) having ordinary voting power for the
election of directors or managers or power to direct or cause the direction of the management and
policies of such Person whether by contract or otherwise. Unless expressly stated otherwise
herein, neither the Administrative Agent nor any Lender shall be deemed an Affiliate of any Loan
Party.

          Agent Fee Letter means the fee letter dated as of the date hereof between Borrowers
and the Administrative Agent.

          Agreement — see the Preamble.

          American Capital means American Capital Strategies, Ltd., a Delaware corporation.

          Applicable Margin means, for any day, the rate per annum set forth below opposite the
level (the “Level”) then in effect, it being understood that the Applicable Margin for (i) LIBOR
Loans shall be the percentage set forth under the column “LIBOR Margin”, (ii) Base Rate Loans shall
be the percentage set forth under the column “Base Rate Margin”, (iii) the Non-Use Fee Rate shall
be the percentage set forth under the column “Non-Use Fee Rate” and (iv) the L/C Fee shall be the
percentage set forth under the column “L/C Fee Rate”:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Total Debt to	 	 	 	 	 	 	 	 
	Level	 	EBITDA Ratio	 	LIBOR Margin	 	Base Rate Margin	 	Non-Use Fee Rate	 	L/C Fee Rate
	I
	 	≥ 4.75 to 1.0	 	 	4.00 	%	 	 	2.50 	%	 	 	0.50	%	 	 	4.00 	%
	II
	 	≥ 4.25 to 1.0 but	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	<4.75 to 1.0	 	 	3.75 	%	 	 	2.25 	%	 	 	0.50	%	 	 	3.75 	%

-4-

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Total Debt to	 	 	 	 	 	 	 	 
	Level	 	EBITDA Ratio	 	LIBOR Margin	 	Base Rate Margin	 	Non-Use Fee Rate	 	L/C Fee Rate
	III
	 	≥ 3.75 to 1.0 but	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	<4.25 to 1.0	 	 	3.50 	%	 	 	2.00 	%	 	 	0.50	%	 	 	3.50 	%
	IV
	 	≥ 3.25 to 1.0 but	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	<3.75 to 1.0	 	 	3.25 	%	 	 	1.75 	%	 	 	0.50	%	 	 	3.25 	%
	V
	 	≥ 2.75 to 1.0 but	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	<3.25 to 1.0	 	 	2.75 	%	 	 	1.25 	%	 	 	0.30	%	 	 	2.75 	%
	VI
	 	<2.75 to 1.0	 	 	2.50 	%	 	 	1.00 	%	 	 	0.30	%	 	 	2.50 	%

          The LIBOR Margin, the Base Rate Margin, the Non-Use Fee Rate and the L/C Fee Rate shall be
adjusted, to the extent an adjustment is applicable, on the fifth (5th) Business Day after
Borrowers provide or are required to provide the annual and quarterly financial statements and
other information pursuant to Sections 10.1.1 or 10.1.2, as applicable, and the
related Compliance Certificate, pursuant to Section 10.1.3. Notwithstanding anything
contained in this paragraph to the contrary, (a) if Borrowers fail to deliver any of the financial
statements and/or the Compliance Certificate in accordance with the provisions of Sections
10.1.1, 10.1.2 and 10.1.3, the LIBOR Margin, the Base Rate Margin, the
Non-Use Fee Rate and the L/C Fee Rate shall be based upon Level I above beginning on the date such
financial statements and/or Compliance Certificate were required to be delivered until the fifth
(5th) Business Day after such financial statements and Compliance Certificate are actually
delivered, whereupon the Applicable Margin shall be determined by the then current Level; (b) no
reduction to any Applicable Margin shall become effective at any time when an Event of Default or
Unmatured Event of Default has occurred and is continuing; and (c) the initial Applicable Margin on
the Closing Date shall be based on Level I until the date on which the financial statements and
Compliance Certificate are required to be delivered for the Fiscal Quarter ending June 30, 2007.

          Asset Disposition means the sale, lease, assignment or other transfer for value (each,
a “Disposition”) by any Loan Party to any Person (other than a Loan Party) of any asset or right of
such Loan Party (including, the loss, destruction or damage of any thereof or any actual or
threatened (in writing to any Loan Party) condemnation, confiscation, requisition, seizure or
taking thereof) other than (a) the Disposition of any asset which, absent the occurrence and
continuance of an Event of Default, is to be replaced, and is in fact replaced during the absence
of any Event of Default, within 180 days after such Disposition with another asset that is usable
in the business of Borrowers and (b) other Dispositions in any Fiscal Year the Net Proceeds of
which do not in the aggregate exceed $200,000.

          Assignee — see Section 15.6.1.

          Assignment Agreement — see Section 15.6.1.

          Attorney Costs means, with respect to any Person, all reasonable fees and charges of
any external counsel to such Person, all reasonable disbursements of such external counsel and all
court costs and similar legal expenses.

          B&J — see the Preamble.

-5-

 

          Bank Product Agreements means those certain cash management service or other
agreements entered into from time to time between any Loan Party and a Lender or its Affiliates in
connection with any of the Bank Products.

          Bank Product Obligations means all obligations, liabilities, contingent reimbursement
obligations, fees, and expenses owing by the Loan Parties to any Lender or its Affiliates pursuant
to or evidenced by the Bank Product Agreements and irrespective of whether for the payment of
money, whether direct or indirect, absolute or contingent, due or to become due, now existing or
hereafter arising, and including all such amounts that a Loan Party is obligated to reimburse to
the Administrative Agent or any Lender as a result of the Administrative Agent or such Lender
purchasing participations or executing indemnities or reimbursement obligations with respect to the
Bank Products provided to the Loan Parties pursuant to the Bank Product Agreements.

          Bank Products means any service or facility extended to any Loan Party by any Lender
or its Affiliates including: (a) credit cards, (b) credit card processing services, (c) debit
cards, (d) purchase cards, (e) ACH transactions, (f) cash management, including controlled
disbursement, accounts or services, or (g) Hedging Agreements.

          Base Rate means at any time the greater of (a) the Federal Funds Rate plus 0.5% and
(b) the Prime Rate.

          Base Rate Loan means any Loan which bears interest at or by reference to the Base
Rate.

          Base Rate Margin — see the definition of Applicable Margin.

          Big Rock  — see the Preamble.

          Borrower(s) — see the Preamble.

          Borrower Representative means Roadrunner in its capacity as representative of the
Borrowers pursuant to the provisions of Section 2.8.

          Borrowing Base means an amount equal to the total of (i) 90% of the unpaid amount of
all Eligible Accounts, for the period commencing on the Closing Date and ending on the first
anniversary of the Closing Date, subject to the completion of the Administrative Agent’s initial
field examination of the Borrowers’ operations no later than June 30, 2007 and (ii) 80% of the
unpaid of all Eligible Account, from and following the first to occur of (x) the day following the
first anniversary of the Closing Date and (y) July 1, 2007, in the event Administrative Agent shall
have failed to complete its initial field examination of the Borrowers’ operations by June 30,
2007.

          Borrowing Base Certificate means a certificate substantially in the form of
Exhibit C.

          BSA — see Section 10.4.

-6-

 

          Business Day means any day on which LaSalle is open for commercial banking business in
Chicago, Illinois and, in the case of a Business Day which relates to a LIBOR Loan, on which
dealings are carried on in the London interbank eurodollar market.

          Capital Expenditures means all expenditures which, in accordance with GAAP, would be
required to be capitalized and shown on the consolidated balance sheet of Borrowers, including
expenditures in respect of Capital Leases, but excluding expenditures made in connection with the
replacement, substitution or restoration of assets to the extent financed (a) from insurance
proceeds (or other similar recoveries) paid on account of the loss of or damage to the assets being
replaced or restored or (b) with awards of compensation arising from the taking by eminent domain
or condemnation of the assets being replaced.

          Capital Lease means, with respect to any Person, any lease of (or other agreement
conveying the right to use) any real or personal property by such Person that, in conformity with
GAAP, is accounted for as a capital lease on the balance sheet of such Person.

          Capital Securities means, with respect to any Person, all shares, interests,
participations or other equivalents (however designated, whether voting or non-voting) of such
Person’s capital, whether now outstanding or issued or acquired after the Closing Date, including
common shares, preferred shares, membership interests in a limited liability company, limited or
general partnership interests in a partnership, interests in a trust, interests in other
unincorporated organizations or any other equivalent of such ownership interest.

          Cash Collateralize means to deliver cash collateral to the Administrative Agent, to be
held as cash collateral for outstanding Letters of Credit, pursuant to documentation satisfactory
to the Administrative Agent. Derivatives of such term have corresponding meanings.

          Cash Equivalent Investment means, at any time, (a) any evidence of Debt, maturing not
more than one year after such time, issued or guaranteed by the United States Government or any
agency thereof, (b) commercial paper, maturing not more than one year from the date of issue, or
corporate demand notes, in each case (unless issued by a Lender or its holding company) rated at
least A-l by Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. or
P-l by Moody’s Investors Service, Inc., (c) any certificate of deposit, time deposit or banker’s
acceptance, maturing not more than one year after such time, or any overnight Federal Funds
transaction that is issued or sold by any Lender or its holding company (or by a commercial banking
institution that is a member of the Federal Reserve System and has a combined capital and surplus
and undivided profits of not less than $500,000,000), (d) any repurchase agreement entered into
with any Lender (or commercial banking institution of the nature referred to in clause (c))
which (i) is secured by a fully perfected security interest in any obligation of the type described
in any of clauses (a) through (c) above and (ii) has a market value at the time
such repurchase agreement is
entered into of not less than 100% of the repurchase obligation of such Lender (or other
commercial banking institution) thereunder and (e) money market accounts or mutual funds

-7-

 

which invest exclusively in assets satisfying the foregoing requirements, and (f) other short term
liquid investments approved in writing by the Administrative Agent.

          Change of Control means the occurrence of any of the following events: (a) Sponsor
shall cease to own and control at least 51% of the outstanding Capital Securities of Holdings; (b)
Sponsor shall cease to have the right, either by contract or as result of Capital Security
ownership, to elect a majority of the board of directors of Holdings and to direct the management
policies and decisions of Holdings, or shall at any time fail to exercise such right, (c) Holdings
shall cease to directly own and control 100% of each class of the outstanding Capital Securities of
each of Roadrunner and Sargent Holdings; (d) Sargent Holdings shall cease to directly own and
control 100% of each class of the outstanding Capital Securities of each Sargent Company; (e) any
Borrower (or the entity resulting from any merger between the Borrowers pursuant to Section
11.4) shall cease to, directly or indirectly, own and control 100% of each class of the
outstanding Capital Securities of each Subsidiary (to the extent such Subsidiaries are permitted
hereunder following the Closing Date) or (e) a “Change of Control” shall occur under the Mezzanine
Purchase Agreement.

          Closing Date — see Section 12.1.

          Code means the Internal Revenue Code of 1986.

          Collateral has the meaning as defined in the Guaranty and Collateral Agreement.

          Collateral Access Agreement means an agreement in form and substance reasonably
satisfactory to the Administrative Agent pursuant to which a lessor of real property on which
Collateral is stored or otherwise located acknowledges the Liens of the Administrative Agent and
waives or subordinates, in a manner reasonably satisfactory to the Administrative Agent, any Liens
held by such Person on such property, and permits the Administrative Agent reasonable access to
such real property following the occurrence and during the continuance of an Event of Default.

          Collateral Documents means, collectively, the Guaranty and Collateral Agreement, each
Collateral Access Agreement, each Mortgage, each control agreement and any other agreement or
instrument pursuant to which any Loan Party or any other Person grants or purports to grant a Lien
to the Administrative Agent for the benefit of the Lenders or otherwise relates to such Lien.

          Commitment means, as to any Lender, such Lender’s commitment interest in, and
commitment to make, Loans, and to issue or participate in Letters of Credit, under this Agreement.
The initial amount of each Lender’s Commitment is set forth on Annex A.

          Compliance Certificate means a Compliance Certificate in substantially the form of
Exhibit B.

          Computation Period means each period of four consecutive Fiscal Quarters ending on the
last day of a Fiscal Quarter.

-8-

 

          Consolidated Net Income means, with respect to Holdings and its Subsidiaries for any
period, the net income (or loss) of Holdings and its Subsidiaries for such period,
excluding any gains and/or losses from Dispositions of any assets, any extraordinary gains,
any extraordinary losses and any gains from discontinued operations.

          Contingent Liability means, with respect to any Person, each obligation and liability
of such Person and all such obligations and liabilities of such Person incurred pursuant to any
agreement, undertaking or arrangement by which such Person: (a) guarantees, endorses or otherwise
becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise,
to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise
to assure a creditor against loss) the indebtedness, dividend, obligation or other liability of any
other Person in any manner (other than by endorsement of instruments in the course of collection),
including any indebtedness, dividend or other obligation which may be issued or incurred at some
future time; (b) guarantees the payment of dividends or other distributions upon the Capital
Securities of any other Person; (c) undertakes or agrees (whether contingently or otherwise): (i)
to purchase, repurchase, or otherwise acquire any indebtedness, obligation or liability of any
other Person or any property or assets constituting security therefor, (ii) to advance or provide
funds for the payment or discharge of any indebtedness, obligation or liability of any other Person
(whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or
to maintain solvency, assets, level of income, working capital or other financial condition of any
other Person, or (iii) to make payment to any other Person other than for value received; (d)
agrees to lease property or to purchase securities, property or services from such other Person
with the purpose or intent of assuring the owner of such indebtedness or obligation of the ability
of such other Person to make payment of the indebtedness or obligation; (e) to induce the issuance
of, or in connection with the issuance of, any letter of credit for the benefit of such other
Person; or (f) undertakes or agrees otherwise to assure a creditor against loss. The amount of any
Contingent Liability shall (subject to any limitation set forth herein) be deemed to be the
outstanding principal amount (or maximum permitted principal amount, if larger) of the
indebtedness, obligation or other liability guaranteed or supported thereby.

          Controlled Group means all members of a controlled group of corporations, all members
of a controlled group of trades or businesses (whether or not incorporated) under common control
and all members of an affiliated service group which, together with the Loan Parties, are treated
as a single employer under Section 414 of the Code or Section 4001 of ERISA.

          Credit Balance — see the Recitals.

          Dawes — see the Recitals.

          Dawes Lenders — see the Recitals.

          Debt of any Person means, without duplication, (a) all indebtedness of such Person for
borrowed money, whether or not evidenced by bonds, debentures, notes or similar

-9-

 

instruments, (b)
all obligations of such Person as lessee under Capital Leases which have been or should be recorded
as liabilities on a balance sheet of such Person in accordance with GAAP, (c) all obligations of
such Person to pay the deferred purchase price of property or services (including the Deferred
Sargent Earnout Obligations, but excluding trade accounts payable in the ordinary course of
business), (d) all indebtedness secured by a Lien on the property of such Person, whether or not
such indebtedness shall have been assumed by such Person; provided that if such Person has
not assumed or otherwise become liable for such indebtedness, such indebtedness shall be measured
at the fair market value of such property securing such indebtedness at the time of determination,
(e) all obligations, contingent or otherwise, with respect to the face amount of all letters of
credit (whether or not drawn), bankers’ acceptances and similar obligations issued for the account
of such Person (including the Letters of Credit), (f) all Hedging Obligations of such Person, (g)
all Contingent Liabilities of such Person, (h) all Debt of any partnership of which such Person is
a general partner and (i) any Capital Securities or other equity instrument, whether or not
mandatorily redeemable, that under GAAP is characterized as debt, whether pursuant to financial
accounting standards board issuance No. 150 or otherwise.

          Debt to be Repaid means Debt listed on Schedule 12.1.

          Deferred Sargent Earnout Obligations means the portion of the Sargent Earnout
Obligations due on or about November 30, 2012.

          Designated Proceeds — see Section 6.2.2(a).

          Dollar and the sign “$” mean lawful money of the United States of America.

          EBITDA means, for any period, Consolidated Net Income for such period plus, to
the extent deducted in determining such Consolidated Net Income, Interest Expense, income tax
expense, depreciation, amortization for such period, transaction expenses incurred during such
period attributable to the Related Transactions (not exceeding $1,500,000 in the aggregate for all
such expenses), cash expenses incurred following September 30, 2006, not to exceed $1,250,000 in
the aggregate, in connection with the integration of the businesses of the Borrowers, and other
non-cash charges required by GAAP (including, without limitation, those resulting from purchase
accounting and the grant by Holdings of stock options and other equity-related incentives);
provided, that EBITDA for each period set forth below shall be deemed to be the amount set
forth below opposite such period:

	 	 	 	 	 
	Month	 	Amount
	April 1, 2006 through and including
June 30, 2006

	 	$	8,301,000	 
	July 1, 2006 through and including
September 30, 2006

	 	$	7,612,000	 

-10-

 

	 	 	 	 	 
	Month	 	Amount
	October 1, 2006 through and
including December 31, 2006

	 	$	2,576,000	 
	January 1, 2007 through and
including January 31, 2007 and
February 1, 2007 through and
including February 28, 2007

	 	Actual reported EBITDA of Borrowers
for such months, subject to
adjustments that are reasonably
acceptable to Administrative Agent
and are consistent with the
adjustments reflected in the EBITDA
amounts specified above by dollar
amounts.

          Eligible Account means an Account owing to any Borrower which meets each of the
following requirements:

          (a) it arises from the rendering of services which have been fully performed by such Borrower;

          (b) it (i) is subject to a perfected, first priority Lien in favor of the Administrative Agent
and (ii) is not subject to any other assignment, claim or Lien;

          (c) it is a valid, legally enforceable and unconditional obligation of the Account Debtor with
respect thereto, and is not subject to the fulfillment of any condition whatsoever;

          (d) to the extent it is not subject to any counterclaim, credit, allowance, discount, rebate
or adjustment by the Account Debtor with respect thereto, or to any claim by such Account Debtor
denying liability thereunder, and to the extent the Account Debtor has not refused to accept any of
the services which are the subject of such Account;

          (e) there is no bankruptcy, insolvency or liquidation proceeding pending by or against the
Account Debtor with respect thereto;

          (f) the Account Debtor with respect thereto is a resident or citizen of, and is located
within, the United States or Canada (excluding Quebec, the Northwest Territories and Nunavit),
unless the sale of goods or services giving rise to such Account is on letter of credit, banker’s
acceptance or other credit support terms reasonably satisfactory to the Administrative Agent;

          (g) it arises in the ordinary course of business of such Borrower;

          (h) if the Account Debtor is the United States or any department, agency or instrumentality
thereof, such Borrower has assigned its right to payment of such Account to

-11-

 

the Administrative Agent pursuant to the Assignment of Claims Act of 1940, and evidence
(satisfactory to the Administrative Agent) of such assignment has been delivered to the
Administrative Agent;

          (i) if such Borrower maintains a credit limit for an Account Debtor, to the extent the
aggregate dollar amount of Accounts due from such Account Debtor, including such Account, does not
exceed such credit limit;

          (j) if the Account is evidenced by chattel paper or an instrument, the originals of such
chattel paper or instrument shall have been endorsed and/or assigned and delivered to the
Administrative Agent or, in the case of electronic chattel paper, shall be in the control of the
Administrative Agent, in each case in a manner satisfactory to the Administrative Agent;

          (k) such Account is evidenced by an invoice delivered to the related Account Debtor and is not
more than (i) 60 days past the due date thereof or (ii) 90 days past the original invoice date
thereof (increased to 120 days with respect to Accounts containing 60 day terms), in each case
according to the original terms of sale;

          (l) the Account Debtor with respect thereto is not an Affiliate of any Borrower;

          (m) it is not owed by an Account Debtor with respect to which 25% or more of the aggregate
amount of outstanding Accounts owed at such time by such Account Debtor is classified as ineligible
under clause (k) of this definition; and

          (n) if the aggregate amount of all Accounts owed by the Account Debtor thereon exceeds 25% of
the aggregate amount of all Accounts at such time, then all Accounts owed by such Account Debtor in
excess of such amount shall be deemed ineligible.

An Account which is at any time an Eligible Account, but which subsequently fails to meet any of
the foregoing requirements, shall forthwith cease to be an Eligible Account.

          Environmental Claims means all claims, however asserted, by any governmental,
regulatory or judicial authority or other Person alleging potential liability or responsibility for
violation of any Environmental Law, or for release or injury to the environment.

          Environmental Laws means all present or future federal, state or local laws, statutes,
common law duties, rules, regulations, ordinances and codes, together with all administrative or
judicial orders, consent agreements, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any governmental authority, in each case relating to any matter
arising out of or relating to public health and safety, or pollution or protection of the
environment or workplace, including any of the foregoing relating to the presence, use, production,
generation, handling, transport, treatment, storage, disposal,
distribution, discharge, emission, release, threatened release, control or cleanup of any
Hazardous Substance.

-12-

 

          Eos means Eos Management, Inc., a Delaware corporation.

          ERISA means the Employee Retirement Income Security Act of 1974.

          Event of Default means any of the events described in Section 13.1.

          Excess Cash Flow means, for any period, the remainder of (a) the sum of EBITDA for
such period, plus the decrease, if any, in the amount of Adjusted Working Capital as of the
last day of such period over the amount of Adjusted Working Capital as of the day immediately
preceding the first day of same period, minus (b) the sum, without duplication, of (i)
scheduled repayments of principal of the Term Loan made during such period, plus (ii) cash
payments made in such period with respect to Capital Expenditures, plus (iii) all income
taxes paid in cash by the Loan Parties during such period, plus (iv) cash Interest Expense
of the Loan Parties during such period, plus (v) transaction expenses attributable to the
Related Transactions paid in cash by the Loan Parties during such period, to the extent added back
in the computation of EBITDA for such period, plus (vi) cash expenses incurred in
connection with the integration of the businesses of the Borrowers, to the extent added back in the
computation of EBITDA for such period plus (vii) the increase, if any, in the amount of
Adjusted Working Capital as of the last day of such period over the amount of Adjusted Working
Capital as of the day immediately preceding the first day of such period plus (viii) cash
payments in respect of the Sargent Earnout Obligations made or scheduled to be made during the
Fiscal Year in which Excess Cash Flow is payable for such period (and, if scheduled to be made,
solely to the extent the amount thereof has been agreed to among Sargent Holdings, Bruce Sargent
and Michael Tweedie), to the extent such payments (in the case of the Deferred Sargent Earnout
Obligations) are permitted under the terms of the Sargent Earnout Subordination Agreement
plus (ix) cash payments of dividends on the Holdings Preferred Stock, to the extent such
payments are permitted under the terms of the Sargent Earnout Subordination Agreement.

          Excluded Taxes means taxes based upon, or measured by, the Lender’s or Administrative
Agent’s (or a branch of the Lender’s or Administrative Agent’s) overall net income, overall net
receipts, or overall net profits (including franchise taxes imposed in lieu of such taxes).

          Federal Funds Rate means, for any day, a fluctuating interest rate equal for each day
during such period to the weighted average of the rates on overnight Federal funds transactions
with members of the Federal Reserve System arranged by Federal funds brokers, as published for such
day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal
Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day,
the average of the quotations for such day on such transactions received by the Administrative
Agent from three Federal funds brokers of
recognized standing selected by the Administrative Agent. The Administrative Agent’s
determination of such rate shall be binding and conclusive absent manifest error.

          Fiscal Quarter means a fiscal quarter of a Fiscal Year.

-13-

 

          Fiscal Year means the fiscal year of Holdings and its Subsidiaries, which period shall
be the 12-month period ending on December 31 of each year. References to a Fiscal Year with a
number corresponding to any calendar year (e.g., “Fiscal Year 2003”) refer to the Fiscal Year
ending on December 31 of such calendar year.

          Fixed Charge Coverage Ratio means, for any Computation Period, the ratio of (a) the
total for such period of EBITDA plus Rental Expense minus the sum of income taxes
paid in cash by the Loan Parties and all unfinanced Capital Expenditures to (b) the sum for
such period of (i) cash Interest Expense plus (ii) regularly scheduled payments of
principal of Funded Debt (including the Term Loan but excluding (in each case, to the extent
otherwise included) the Revolving Loans and the Sargent Earnout Obligations) plus (iii)
Rental Expense plus (iv) the aggregate amount distributed by Holdings in connection with the
repurchase of Capital Securities of Holdings plus (v) payments of dividends on the Holdings
Preferred Stock; provided, that, for purposes of this definition, (i) Rental Expenses,
income taxes paid in cash, unfinanced Capital Expenditures, cash Interest Expense and regularly
scheduled payments of principal of Funded Debt for each period set forth below shall be deemed to
be the amount set forth below for such period:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Rental	 	Cash Income	 	Unfinanced Capital
	Period	 	Expense	 	Taxes	 	Expenditures
	April 1, 2006 through
and including June
30, 2006
	 	$	2,489,000	 	 	 	($1,747,000	)	 	$	360,000	 
	July 1, 2006 through
and including
September 30, 2006
	 	$	2,582,000	 	 	$	148,000	 	 	$	236,000	 
	October 1, 2006
through and including
December 31, 2006
	 	$	2,430,000	 	 	$	84,000	 	 	$	174,000	 

	 	 	 	 	 	 	 	 	 
	 	 	Cash Interest	 	Regularly Scheduled
	Period	 	Expense	 	Payments of Principal
	April 1, 2006 through and
including June 30, 2006

	 	$	2,406,000	 	 	$	0	 
	July 1, 2006 through and
including September 30, 2006

	 	$	2,363,000	 	 	$	0	 
	October 1, 2006 through and
including December 31, 2006

	 	$	2,731,000	 	 	$	0	 

          FRB means the Board of Governors of the Federal Reserve System or any successor
thereto.

          Funded Debt means, as to any Person, all Debt of such Person that matures more than
one year from the date of its creation (or is renewable or extendible, at the option of such
Person, to a date more than one year from such date).

-14-

 

          GAAP means generally accepted accounting principles set forth from time to time in the
opinions and pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board (or agencies with similar functions of comparable stature and authority within the
U.S. accounting profession) and the Securities and Exchange Commission, which are applicable to the
circumstances as of the date of determination.

          Group — see Section 2.2.1.

          Guaranty and Collateral Agreement means the Guaranty and Collateral Agreement dated as
of the date hereof executed and delivered by the Loan Parties in favor of the Administrative Agent
and the Lenders, together with any joinders thereto and any other guaranty and collateral agreement
executed by a Loan Party, in each case in form and substance satisfactory to the Administrative
Agent.

          Hazardous Substances means (a) any petroleum or petroleum products, radioactive
materials, asbestos in any form that is or could become friable, urea formaldehyde foam insulation,
dielectric fluid containing levels of polychlorinated biphenyls, radon gas and mold; (b) any
chemicals, materials, pollutant or substances defined as or included in the definition of
“hazardous substances”, “hazardous waste”, “hazardous materials”, “extremely hazardous substances”,
“restricted hazardous waste”, “toxic substances”, “toxic pollutants”, “contaminants”, “pollutants”
or words of similar import, under any applicable Environmental Law; and (c) any other chemical,
material or substance, the exposure to, or release of which is prohibited, limited or regulated by
any governmental authority or for which any duty or standard of care is imposed pursuant to, any
Environmental Law.

          Hedging Agreement means any interest rate, currency or commodity swap agreement, cap
agreement or collar agreement, and any other agreement or arrangement designed to protect a Person
against fluctuations in interest rates, currency exchange rates or commodity prices.

          Hedging Obligation means, with respect to any Person, any liability of such Person
under any Hedging Agreement. The amount of any Person’s obligation in respect of any Hedging
Obligation shall be deemed to be the incremental obligation that would be reflected in the
financial statements of such Person in accordance with GAAP.

          Holdings — see the Recitals.

          Holdings Preferred Stock means the Series A Redeemable Preferred Stock of Holdings.

          Indemnified Liabilities — see Section 15.17.

          Intercompany Loans — see Section 2.8.

-15-

 

          Interest Expense means for any period the consolidated interest expense of Holdings
and its Subsidiaries for such period (including all imputed interest on Capital Leases).

          Interest Period means, as to any LIBOR Loan, the period commencing on the date such
Loan is borrowed or continued as, or converted into, a LIBOR Loan and ending on the date one, two,
three or six months thereafter as selected by Borrower Representative pursuant to Section
2.2.2 or 2.2.3, as the case may be; provided that:

          (a) if any Interest Period would otherwise end on a day that is not a Business Day, such
Interest Period shall be extended to the following Business Day unless the result of such extension
would be to carry such Interest Period into another calendar month, in which event such Interest
Period shall end on the preceding Business Day;

          (b) any Interest Period that begins on a day for which there is no numerically corresponding
day in the calendar month at the end of such Interest Period shall end on the last Business Day of
the calendar month at the end of such Interest Period;

          (c) Borrowers may not select any Interest Period for a Revolving Loan which would extend
beyond the scheduled Termination Date; and

          (d) Borrowers may not select any Interest Period for the Term Loan if, after giving effect to
such selection, the aggregate principal amount of the Term Loan having Interest Periods ending
after any date on which an installment of the Term Loan is scheduled to be repaid would exceed the
aggregate principal amount of the Term Loan scheduled to be outstanding after giving effect to such
repayment.

          Investment means, with respect to any Person, any investment in another Person,
whether by acquisition of any debt or Capital Security, by making any loan or advance, by becoming
obligated with respect to a Contingent Liability in respect of obligations of such other Person
(other than travel and similar advances to employees in the ordinary course of business) or by
making an Acquisition.

          IRS means the Internal Revenue Service.

          Issuing Lender means LaSalle, in its capacity as the issuer of Letters of Credit
hereunder, or any Affiliate of LaSalle that may from time to time issue Letters of Credit, and
their successors and assigns in such capacity.

          LaSalle — see the Preamble.

          L/C Application means, with respect to any request for the issuance of a Letter of
Credit, a letter of credit application in the form being used by the Issuing Lender at the time of
such request for the type of letter of credit requested.

          L/C Fee Rate — see the definition of Applicable Margin.

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          Lender — see the Preamble. References to the “Lenders” shall include the
Issuing Lender; for purposes of clarification only, to the extent that LaSalle (or any successor
Issuing Lender) may have any rights or obligations in addition to those of the other Lenders due to
its status as Issuing Lender, its status as such will be specifically referenced. In addition to
the foregoing, solely for the purpose of identifying the Persons entitled to share in the
Collateral and the proceeds thereof under, and in accordance with the provisions of, this Agreement
and the Collateral Documents, the term “Lender” shall include Affiliates of a Lender providing a
Bank Product (it being agreed that none of such Affiliates shall have any consent or other approval
rights over any release by Administrative Agent of any Lien granted to or held by Administrative
Agent under any Collateral Document).

          Lender Party — see Section 15.17.

          Letter of Credit — see Section 2.1.3.

          LIBOR Loan means any Loan which bears interest at a rate determined by reference to
the LIBOR Rate.

          LIBOR Margin — see the definition of Applicable Margin.

          LIBOR Office means, with respect to any Lender, the office or offices of such Lender
which shall be making or maintaining the LIBOR Loans of such Lender hereunder. A LIBOR Office of
any Lender may be, at the option of such Lender, either a domestic or foreign office.

          LIBOR Rate means a rate of interest equal to (a) the per annum rate of interest at
which United States dollar deposits in an amount comparable to the amount of the relevant LIBOR
Loan and for a period equal to the relevant Interest Period are offered in the London Interbank
Eurodollar market at 11:00 A.M. (London time) two (2) Business Days prior to the commencement of
such Interest Period (or three (3) Business Days prior to the commencement of such Interest Period
if banks in London, England were not open and dealing in offshore United States dollars on such
second preceding Business Day), as displayed in the Bloomberg Financial Markets system (or other
authoritative source selected by the Administrative Agent in its sole discretion) or, if the
Bloomberg Financial Markets system or another authoritative source is not available, as the LIBOR
Rate is otherwise determined by the Administrative Agent in its sole and absolute discretion,
divided by (b) a number determined by subtracting from 1.00 the then stated maximum reserve
percentage for determining reserves to be maintained by member banks of the Federal Reserve System
for Eurocurrency funding or liabilities as defined in Regulation D (or any successor category of
liabilities under Regulation D), such rate to remain fixed for such Interest Period. The
Administrative Agent’s determination of the LIBOR Rate shall be conclusive, absent manifest error.

          Lien means, with respect to any Person, any interest in any real or personal property,
asset or other right owned or being purchased or acquired by such Person (including an interest in
respect of a Capital Lease) which secures payment or performance

-17-

 

of any obligation and shall
include any mortgage, lien, encumbrance, title retention lien,
charge or other security interest of any kind, whether arising by contract, as a matter of
law, by judicial process or otherwise.

          Loan Documents means this Agreement, the Notes, the Letters of Credit, the Master
Letter of Credit Agreement, the L/C Applications, the Agent Fee Letter, the Collateral Documents,
the Subordination Agreements and all documents, instruments and agreements delivered in connection
with the foregoing.

          Loan Party means Holdings, Sargent Holdings, the Borrowers and, if any, each
Subsidiary.

          Loan or Loans means, as the context may require, Revolving Loans, the Term Loan and/or
Swing Line Loans.

          Management Agreement means that certain Amended and Restated Management and Consulting
Agreement dated as of March 14, 2007 among Thayer Management, Eos, the Sargent Companies and
Roadrunner.

          Mandatory Prepayment Event — see Section 6.2.2(a).

          Margin Stock means any “margin stock” as defined in Regulation U.

          Master Letter of Credit Agreement means, at any time, with respect to the issuance of
Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if
any, being used by the Issuing Lender at such time.

          Material Adverse Effect means (a) a material adverse change in, or a material adverse
effect upon, the financial condition, operations, assets, business or properties of the Loan
Parties taken as a whole, (b) a material impairment of the ability of any Loan Party to perform any
of the material Obligations under any Loan Document or (c) a material adverse effect upon any
substantial portion of the Collateral under the Collateral Documents or upon the legality,
validity, binding effect or enforceability against any Loan Party of any material Loan Document.

          Mezzanine Debt means Debt evidenced by the Mezzanine Purchase Agreement.

          Mezzanine Purchase Agreement means that certain Amended and Restated Notes Purchase
Agreement among the Sargent Companies, Roadrunner, the guarantors listed therein, the Sankaty
Entities and American Capital.

          Mezzanine Subordination Agreement means that certain Subordination Agreement dated as
of the date hereof among Holdings, Sargent Holdings, Borrowers, the Administrative Agent, the
Sankaty Entities and American Capital.

          Midwest — see the Preamble.

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          Mortgage means a mortgage, deed of trust, leasehold mortgage or similar instrument
granting the Administrative Agent a Lien on real property of any Loan Party.

          Multiemployer Pension Plan means a multiemployer plan, as defined in Section
4001(a)(3) of ERISA, to which any Loan Party or any other member of the Controlled Group could
reasonably be expected to have any liability.

          Net Cash Proceeds means:

          (a) with respect to any Asset Disposition, the aggregate cash proceeds (including cash
proceeds received pursuant to policies of insurance or by way of deferred payment of principal
pursuant to a note, installment receivable or otherwise, but only as and when received) received by
any Loan Party pursuant to such Asset Disposition net of (i) the direct costs relating to such
sale, transfer or other disposition (including sales commissions and legal, accounting and
investment banking fees), (ii) taxes paid or reasonably estimated by Borrowers to be payable as a
result thereof (after taking into account any available tax credits or deductions and any tax
sharing arrangements) and (iii) amounts required to be applied to the repayment of any Debt secured
by a Lien on the asset subject to such Asset Disposition (other than the Loans);

          (b) with respect to any issuance of Capital Securities, the aggregate cash proceeds received
by any Loan Party pursuant to such issuance, net of the direct costs relating to such issuance
(including sales and underwriters’ commissions); and

          (c) with respect to any issuance of Debt, the aggregate cash proceeds received by any Loan
Party pursuant to such issuance, net of the direct costs of such issuance (including up-front,
underwriters’ and placement fees).

          Non-U.S. Participant — see Section 7.6(d).

          Non-Use Fee Rate — see the definition of Applicable Margin.

          Note means a promissory note substantially in the form of Exhibit A.

          Notice of Borrowing — see Section 2.2.2.

          Notice of Conversion/Continuation — see Section 2.2.3.

          Obligations means all obligations (monetary (including post-petition interest, allowed
or not) or otherwise) of any Loan Party under this Agreement and any other Loan Document including
Attorney Costs and any reimbursement obligations of each Loan Party in respect of Letters of Credit
and surety bonds, all Hedging Obligations permitted hereunder which are owed to any Lender or its
Affiliate, and all Bank Products Obligations, all in each case howsoever created, arising or
evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or
to become due.

          OFAC — see Section 10.4.

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          Old Roadrunner — see the Recitals.

          Original Credit Agreements — see the Recitals.

          Original Dawes Credit Agreement — see the Recitals.

          Original Roadrunner Credit Agreement — see the Recitals.

          PBGC means the Pension Benefit Guaranty Corporation and any entity succeeding to any
or all of its functions under ERISA.

          Participant — see Section 15.6.2.

          Pension Plan means a “pension plan”, as such term is defined in Section 3(2) of ERISA,
which is subject to Title IV of ERISA or the minimum funding standards of ERISA (other than a
Multiemployer Pension Plan), and as to which Borrowers or any member of the Controlled Group could
reasonably be expected to have any liability, including any liability by reason of having been a
substantial employer within the meaning of Section 4063 of ERISA at any time during the preceding
five years, or by reason of being deemed to be a contributing sponsor under Section 4069 of ERISA.

          Permitted Lien means a Lien expressly permitted hereunder pursuant to Section
11.2.

          Person means any natural person, corporation, partnership, trust, limited liability
company, association, governmental authority or unit, or any other entity, whether acting in an
individual, fiduciary or other capacity.

          Prime Rate means, for any day, the rate of interest in effect for such day as publicly
announced from time to time by the Administrative Agent as its prime rate (whether or not such rate
is actually charged by the Administrative Agent), which is not intended to be the Administrative
Agent’s lowest or most favorable rate of interest at any one time. Any change in the Prime Rate
announced by the Administrative Agent shall take effect at the opening of business on the day
specified in the public announcement of such change; provided that the Administrative Agent
shall not be obligated to give notice of any change in the Prime Rate.

          Prior Obligations — see Section 2.6.

          Pro Rata Share means:

          (a) with respect to a Lender’s obligation to make Revolving Loans, participate in Letters of
Credit, reimburse the Issuing Lender, and with respect to a Lender’s right to receive payments of
principal, interest, fees, costs, and expenses with respect thereto, (x) prior to the Revolving
Commitment of such Lender being terminated or reduced to zero, the percentage obtained by dividing
(i) such Lender’s Revolving Commitment, by (ii) the aggregate Revolving Commitment of all Lenders
and (y) from and after the time the

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Revolving Commitment of such Lender has been terminated or
reduced to zero, the
percentage obtained by dividing (i) the aggregate unpaid principal amount of such Lender’s
Revolving Outstandings (after settlement and repayment of all Swing Line Loans by the Lenders) by
(ii) the aggregate unpaid principal amount of all Revolving Outstandings;

          (b) with respect to a Lender’s right to receive payments of interest, fees, and principal with
respect to the Term Loan, the percentage obtained by dividing (i) the principal amount of such
Lender’s Term Loan by (ii) the principal amount of the Term Loan of all Lenders; and

          (c) with respect to all other matters as to a particular Lender, the percentage obtained by
dividing (i) such Lender’s Revolving Commitment plus the unpaid principal amount of such
Lender’s Term Loan by (ii) the aggregate amount of Revolving Commitment of all Lenders plus
the unpaid principal amount of the Term Loan of all Lenders; provided that in the event the
Commitments have been terminated or reduced to zero, Pro Rata Share shall be the percentage
obtained by dividing (A) the principal amount of such Lender’s Revolving Outstandings (after
settlement and repayment of all Swing Line Loans by the Lenders) plus the unpaid principal
amount of such Lender’s Term Loan by (B) the principal amount of all outstanding Revolving
Outstandings plus the unpaid principal amount of the Term Loan of all Lenders.

          Refunded Swing Line Loan — see Section 2.2.4(c).

          Register — see Section 15.7.

          Regulation D means Regulation D of the FRB.

          Regulation U means Regulation U of the FRB.

          Related Agreements means the Sargent Merger Agreement, the documents and agreements
giving effect to the Sargent Merger and all material agreements, documents and instruments executed
in connection therewith.

          Related Transactions means the transactions contemplated by the Related Agreements.

          Rental Expense means, for any period, rent expense during such period in connection
with operating leases of real and personal property with an initial or extended duration of one
year or more, including the current maturities thereof, as determined in accordance with GAAP.

          Replacement Lender — see Section 8.7(b).

          Reportable Event means a reportable event as defined in Section 4043 of ERISA and the
regulations issued thereunder as to which the PBGC has not waived the notification requirement of
Section 4043(a), or the failure of a Pension Plan to meet the minimum funding standards of Section
412 of the Code (without regard to whether the

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Pension Plan is a plan described in Section
4021(a)(2) of ERISA) or under Section 302 of ERISA.

          Required Lenders means, at any time, Lenders whose Pro Rata Shares exceed 67% as
determined pursuant to clause (c) of the definition of “Pro Rata Share”; provided, that at any time
that there exists only two Lenders, Required Lenders shall mean both Lenders.

          Restated Credit Agreement — see the Recitals.

          Revolving Commitment means, as to any Lender, the amount specified for such Lender as
the “Revolving Commitment Amount” on Annex A hereto, subject to adjustment pursuant to any
and all Assignment Agreements entered into by such Lender following the Closing Date, in each case
as such amount may be reduced from time to time pursuant to Section 6.1. On the Closing
Date, the aggregate Revolving Commitments of all Lenders is $50,000,000, as such amount may be
reduced from time to time pursuant to Section 6.1.

          Revolving
Loan — see Section 2.1.1.

          Revolving Loan Availability means the lesser of (i) the Revolving Commitment of all
Lenders and (ii) the Borrowing Base.

          Revolving Outstandings means, at any time, the sum of (a) the aggregate principal
amount of all outstanding Revolving Loans, plus (b) the Stated Amount of all Letters of Credit.

          Roadrunner — see the Preamble.

          Sankaty Entities means Sankaty Credit Opportunities, L.P., Sankaty Credit
Opportunities II, L.P. and RGIP, LLC.

          Sargent — see the Preamble.

          Sargent Companies — see the Preamble.

          Sargent Earnout Obligations means the “Contingent Payments”, as such term is defined
in the Sargent Purchase Agreement.

          Sargent Earnout Subordination Agreement means, collectively, (i) that certain
Subordination Agreement dated as of the date hereof among Administrative Agent, Sargent Holdings,
Holdings and Michael Tweedie, as amended or otherwise modified from time to time and (ii) that
certain Subordination Agreement dated as of the date hereof among Administrative Agent, Sargent
Holdings, Holdings and Bruce Sargent, as amended or otherwise modified from time to time.

          Sargent Holdings — see the Recitals.

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          Sargent Holdings Corp. — see the Recitals.

          Sargent Merger — see the Recitals.

          Sargent Merger Agreement — see the Recitals.

          Sargent Purchase Agreement means that certain Stock Purchase Agreement dated as of
October 4, 2006 among the Sargent Companies, Sargent Holdings Corp., Bruce Sargent and Michael
Tweedie, as the same exists on the date hereof.

          SEC means the Securities and Exchange Commission or any other governmental authority
succeeding to any of the principal functions thereof.

          Senior Debt means all Total Debt of Holdings and its Subsidiaries other than
Subordinated Debt.

          Senior Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio
of (a) Senior Debt as of such day to (b) EBITDA for the Computation Period ending on such day.

          Senior Officer means, with respect to any Loan Party, any of the chief executive
officer, the chief financial officer, the chief operating officer or the treasurer of such Loan
Party.

          Smith Truck see the Preamble.

          Specified Delivery Sections means each of Sections 10.1.1, 10.1.2,
10.1.3, 10.1.4, 10.1.7 and 10.1.9.

          Sponsor means Thayer Equity Investors V, L.P., a Delaware limited partnership.

          Sponsor Make Whole Agreement means that certain Keep Well Agreement dated as of the
date hereof among Sponsor, the Sankaty Entities and American Capital, as the same exists on the
Closing Date.

          Sponsor Make Whole Subordinated Debt means unsecured Debt of Holdings owing to Sponsor
made pursuant to the terms of the Sponsor Make Whole Agreement which has subordination terms,
covenants, pricing and other terms which have been approved in writing by Administrative Agent
prior to the creation of such Debt.

          Stated Amount means, with respect to any Letter of Credit at any date of
determination, (a) the maximum aggregate amount available for drawing thereunder under any and all
circumstances plus (b) the aggregate amount of all unreimbursed drawings, payments and
disbursements under such Letter of Credit.

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          Subordinated Debt means (a) the Mezzanine Debt, (b) the Deferred Sargent Earnout
Obligations and (c) any other unsecured Debt of either or both Borrowers which has subordination
terms, covenants, pricing and other terms which have been approved in writing by the Required
Lenders prior to the creation of such Subordinated Debt.

          Subordinated Debt Documents means all documents and instruments relating to the
Subordinated Debt and all amendments and modifications thereof approved by the Administrative
Agent.

          Subordination Agreements means the Mezzanine Subordination Agreement, and the Sargent
Earnout Subordination Agreement, together with all other subordination agreements executed by a
holder of Subordinated Debt in favor of the Administrative Agent and the Lenders from time to time
after the Closing Date in form and substance and on terms and conditions satisfactory to
Administrative Agent.

          Subsidiary means, with respect to any Person, a corporation, partnership, limited
liability company or other entity of which such Person owns, directly or indirectly, such number of
outstanding Capital Securities as have more than 50% of the ordinary voting power for the election
of directors or other managers of such corporation, partnership, limited liability company or other
entity. Unless the context otherwise requires, each reference to Subsidiaries herein shall be a
reference to Subsidiaries of a Borrower.

          Swing Line Availability means the lesser of (a) the Swing Line Commitment Amount and
(b) Revolving Loan Availability (less Revolving Outstandings at such time).

          Swing Line Commitment Amount means $1,000,000, as reduced from time to time pursuant
to Section 6.1, which commitment constitutes a subfacility of the Revolving Commitment of
the Swing Line Lender.

          Swing Line Lender means LaSalle.

          Swing Line Loan — see Section 2.2.4.

          Taxes means any and all present and future taxes, duties, levies, imposts, deductions,
assessments, charges or withholdings, and any and all liabilities (including interest and penalties
and other additions to taxes) with respect to the foregoing, but excluding Excluded Taxes.

          Term Loan — see Section 2.1.2.

          Term Loan Maturity Date means the earlier of (a) February 28, 2012 or (b) the
Termination Date.

          Termination Date means the earlier to occur of (a) February 28, 2012 or (b) such other
date on which the Commitments terminate pursuant to Section 6 or Section 13.

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          Termination Event means, with respect to a Pension Plan that is subject to Title IV of
ERISA, (a) a Reportable Event, (b) the withdrawal of any Loan Party or any other member of the
Controlled Group from such Pension Plan during a plan year in which any Loan Party or any other
member of the Controlled Group was a “substantial employer” as defined in Section 4001(a)(2) of
ERISA or was deemed such under Section 4068(f) of ERISA, (c) the termination of such Pension Plan,
the filing of a notice of intent to terminate the Pension Plan or the treatment of an amendment of
such Pension Plan as a termination under Section 4041 of ERISA, (d) the institution by the PBGC of
proceedings to terminate such Pension Plan or (e) any event or condition that might constitute
grounds under Section 4042 of ERISA for the termination of, or appointment of a trustee to
administer, such Pension Plan.

          Thayer Management means Thayer Capital Management, L.P., a Delaware limited
partnership.

          Total Debt means all Debt of Holdings and its Subsidiaries, determined on a
consolidated basis, excluding (a) contingent obligations in respect of Contingent Liabilities
(except to the extent constituting Contingent Liabilities in respect of Debt of a Person other than
any Loan Party), (b) Hedging Obligations and (c) contingent obligations in respect of undrawn
letters of credit.

          Total Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio
of (a) Total Debt as of such day to (b) EBITDA for the Computation Period ending on such day.

          Total Plan Liability means, at any time, the present value of all vested and unvested
accrued benefits under all Pension Plans, determined as of the then most recent valuation date for
each Pension Plan, using PBGC actuarial assumptions for single employer plan terminations.

          type — see Section 2.2.1.

          UCC is defined in the Guaranty and Collateral Agreement.

          Unfunded Liability means the amount (if any) by which the present value of all vested
and unvested accrued benefits under all Pension Plans exceeds the fair market value of all assets
allocable to those benefits, all determined as of the then most recent valuation date for each
Pension Plan, using PBGC actuarial assumptions for single employer plan terminations.

          Unmatured Event of Default means the occurrence or existence of any event or
circumstance described in Section 13.1 (without giving effect to any cure periods set forth
in such Section) which, with the giving of notice, the lapse of time, or both, would (if not cured
or otherwise remedied during such time) constitute an Event of Default.

          Withholding Certificate — see Section 7.6(d).

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          Wholly-Owned Subsidiary means, as to any Person, a Subsidiary all of the Capital
Securities of which (except directors’ qualifying Capital Securities that are required to be held
by such director pursuant to applicable law) are at the time directly or indirectly owned by such
Person and/or another Wholly-Owned Subsidiary of such Person.

          1.2. Other Interpretive Provisions.

          For purposes of this Agreement and the other Loan Documents:

          (a) The meanings of defined terms are equally applicable to the singular and plural forms of
the defined terms.

          (b) Section, Annex, Schedule and Exhibit references are to this Agreement unless otherwise
specified.

          (c) The term “including” is not limiting and means “including without limitation.”

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

          (e) Unless otherwise expressly provided herein, (i) references to agreements (including this
Agreement and the other Loan Documents) and other contractual instruments shall be deemed to
include all subsequent amendments, restatements, supplements and other modifications thereto, but
only to the extent such amendments, restatements, supplements and other modifications are not
prohibited by the terms of any Loan Document, and (ii) references to any statute or regulation
shall be construed as including all statutory and regulatory provisions amending, replacing,
supplementing or interpreting such statute or regulation.

          (f) This Agreement and the other Loan Documents may use several different limitations, tests
or measurements to regulate the same or similar matters. All such limitations, tests and
measurements are cumulative and each shall be performed in accordance with its terms.

          (g) This Agreement and the other Loan Documents are the result of negotiations among and have
been reviewed by counsel to the Administrative Agent, Borrowers, the Lenders and the other parties
thereto and are the products of all parties. Accordingly, they shall not be construed against the
Administrative Agent or the Lenders merely because of the Administrative Agent’s or Lenders’
involvement in their preparation.

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	 	SECTION 2	 	COMMITMENTS OF THE LENDERS; BORROWING, CONVERSION AND LETTER OF CREDIT
PROCEDURES.

          2.1. Commitments. 

          On and subject to the terms and conditions of this Agreement, each of the Lenders, severally
and for itself alone, agrees to make loans to, and to issue or participate in letters of credit for
the account of, Borrowers as follows:

          2.1.1. Revolving Commitment.

          Each Lender with a Revolving Commitment agrees to make loans on a revolving basis (“Revolving
Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such
aggregate amounts as Borrowers may request from all Lenders; provided that Borrowers and
Lenders hereby agree that a portion of the Credit Balance in the amount of $16,141,446.47 shall be
deemed to be Revolving Loans made on the Closing Date pursuant to this Section 2.1.1, and
provided further, that (i) the Revolving Outstandings will not at any time exceed
Revolving Loan Availability less the amount of any
Swing Line Loans outstanding at such time and (ii) no Lender will be required to make
Revolving Loans in an amount exceeding its Revolving Commitment.

          2.1.2. Term Loan Commitment.

          Borrowers and Lenders hereby agree that a portion of the Credit Balance in the amount of
$40,000,000.00 shall be deemed to be a term loan (the “Term Loan”) made by the Lenders in the
original principal dollar amounts and applicable Pro Rata Shares set forth on Annex A
hereto, and repayable in accordance with the terms and provisions of this Agreement.

          2.1.3. L/C Commitment.

          (a) Subject to Section 2.3.1, the Issuing Lender agrees to issue letters of credit, in
each case containing such terms and conditions as are permitted by this Agreement and are
reasonably satisfactory to the Issuing Lender (each, a “Letter of Credit”), at the request of
Borrower Representative and for the account of Borrowers from time to time before the scheduled
Termination Date and, as more fully set forth in Section 2.3.2, each Lender agrees to
purchase a participation in each such Letter of Credit; provided that (a) the aggregate
Stated Amount of all Letters of Credit shall not at any time exceed $6,000,000 and (b) the
Revolving Outstandings shall not at any time exceed Revolving Loan Availability less the amount of
any Swing Line Loans outstanding at such time.

          (b) Borrowers, Lenders, Issuing Lender and Administrative Agent hereby agree that any and all
“Letters of Credit” (as such term is defined in the Restated Credit Agreement) outstanding on the
Closing Date shall be deemed to be a Letter of Credit issued under this Agreement.

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          2.2. Loan Procedures. 

          2.2.1. Various Types of Loans.

          Each Revolving Loan shall be, and the Term Loan may be divided into tranches which are, either
a Base Rate Loan or a LIBOR Loan (each a “type” of Loan), as Borrower Representative shall specify
in the related notice of borrowing or conversion pursuant to Section 2.2.2 or
2.2.3. LIBOR Loans having the same Interest Period which expire on the same day are
sometimes called a “Group” or collectively “Groups”. Base Rate Loans and LIBOR Loans may be
outstanding at the same time, provided that not more than 5 different Groups of LIBOR Loans
shall be outstanding at any one time. All borrowings, conversions and repayments of Revolving
Loans shall be effected so that each Lender will have a ratable share (according to its Pro Rata
Share) of all types and Groups of Loans.

          2.2.2. Borrowing Procedures.

          Each Borrower requesting a borrowing of loans hereunder shall direct Borrower Representative
to give written notice (each such written notice, a “Notice of Borrowing”) substantially in the
form of Exhibit E or telephonic notice (followed immediately by a Notice of Borrowing) to
the Administrative Agent of such proposed
borrowing not later than (a) in the case of a Base Rate borrowing, 11:00 A.M., Chicago time,
on the proposed date of such borrowing, and (b) in the case of a LIBOR borrowing, 11:00 A.M.,
Chicago time, at least three Business Days prior to the proposed date of such borrowing. Each such
notice shall be effective upon receipt by the Administrative Agent, shall be irrevocable, and shall
specify the date, amount and type of borrowing and, in the case of a LIBOR borrowing, the initial
Interest Period therefor. Promptly upon receipt of such notice, the Administrative Agent shall
advise each Lender thereof. Not later than 1:00 P.M., Chicago time, on the date of a proposed
borrowing, each Lender shall provide the Administrative Agent at the office specified by the
Administrative Agent with immediately available funds covering such Lender’s Pro Rata Share of such
borrowing and, so long as the Administrative Agent has not received written notice that the
conditions precedent set forth in Section 11 with respect to such borrowing have not been
satisfied, the Administrative Agent shall pay over the funds received by the Administrative Agent
to Borrowers on the requested borrowing date. Each borrowing shall be on a Business Day. Each
Base Rate borrowing shall be in an aggregate amount of at least $100,000 and an integral multiple
of $50,000, and each LIBOR borrowing shall be in an aggregate amount of at least $500,000 and an
integral multiple of at least $100,000.

          2.2.3. Conversion and Continuation Procedures.

          (a) Subject to Section 2.2.1, Borrower Representative may, upon irrevocable written
notice to the Administrative Agent in accordance with clause (b) below:

          (A) elect, as of any Business Day, to convert any Loans (or any part thereof in an
aggregate amount not less than $500,000 or a higher integral multiple of $100,000) into
Loans of the other type; or

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          (B) elect, as of the last day of the applicable Interest Period, to continue any LIBOR
Loans having Interest Periods expiring on such day (or any part thereof in an aggregate
amount not less than $500,000 or a higher integral multiple of $100,000) for a new Interest
Period;

provided that after giving effect to any prepayment, conversion or continuation, the
aggregate principal amount of each Group of LIBOR Loans shall be at least $500,000 and an integral
multiple of $100,000.

          (b) Each Borrower requesting a conversion or continuation of loans hereunder shall direct
Borrower Representative to give written notice (each such written notice, a “Notice of
Conversion/Continuation”) substantially in the form of Exhibit F or telephonic notice
(followed immediately by a Notice of Conversion/Continuation) to the Administrative Agent of each
proposed conversion or continuation not later than (i) in the case of conversion into Base Rate
Loans, 11:00 A.M., Chicago time, on the proposed date of such conversion and (ii) in the case of
conversion into or continuation of LIBOR Loans, 11:00 A.M., Chicago time, at least three Business
Days prior to the proposed date of such conversion or continuation, specifying in each case:

          (A) the proposed date of conversion or continuation;

          (B) the aggregate amount of Loans to be converted or continued;

          (C) the type of Loans resulting from the proposed conversion or continuation; and

          (D) in the case of conversion into, or continuation of, LIBOR Loans, the duration of
the requested Interest Period therefor.

          (c) If upon the expiration of any Interest Period applicable to LIBOR Loans, Borrower
Representative has failed to select timely a new Interest Period to be applicable to such LIBOR
Loans, Borrower Representative shall be deemed to have elected to convert such LIBOR Loans into
Base Rate Loans effective on the last day of such Interest Period.

          (d) The Administrative Agent will promptly notify each Lender of its receipt of a notice of
conversion or continuation pursuant to this Section 2.2.3 or, if no timely notice is
provided by Borrower Representative, of the details of any automatic conversion.

          (e) Any conversion of a LIBOR Loan on a day other than the last day of an Interest Period
therefor shall be subject to Section 8.4.

          2.2.4. Swing Line Facility.

          (a) The Administrative Agent shall notify the Swing Line Lender upon the Administrative
Agent’s receipt of any Notice of Borrowing that requests a Swing Line Loan. Subject to the terms
and conditions hereof, upon Borrower Representative’s request for a

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Swing Line Loan as set forth in
the applicable Notice of Borrowing, the Swing Line Lender may, in its sole discretion, make
available from time to time until the Termination Date advances (each, a “Swing Line Loan”) in
accordance with any such notice, notwithstanding that after making a requested Swing Line Loan, the
sum of the Swing Line Lender’s Pro Rata Share of the Revolving Outstanding and all outstanding
Swing Line Loans may exceed the Swing Line Lender’s Pro Rata Share of the Revolving Commitment.
The provisions of this Section 2.2.4 shall not relieve Lenders of their obligations to make
Revolving Loans under Section 2.1.1; provided that if the Swing Line Lender makes a
Swing Line Loan pursuant to any such notice, such Swing Line Loan shall be in lieu of any Revolving
Loan that otherwise may be made by the Lenders pursuant to such notice. The aggregate amount of
Swing Line Loans outstanding shall not exceed at any time Swing Line Availability. Until the
Termination Date, Borrower Representative may from time to time borrow, repay and reborrow under
this Section 2.2.4. Each Swing Line Loan shall be made pursuant to a Notice of Borrowing
delivered by Borrower Representative to the Administrative Agent in accordance with Section
2.2.2. Any such notice must be given no later than 2:00 P.M., Chicago time, on the Business
Day of the proposed Swing Line Loan. Unless the Swing Line Lender has received at least one
Business Day’s prior written notice from the Required Lenders instructing it not to make a Swing
Line Loan, the Swing Line Lender shall, notwithstanding the failure of any condition precedent set
forth in Section 12.2, be entitled to fund that Swing Line Loan, and to have such Lender
make Revolving Loans in accordance with Section 2.2.4(c) or purchase participating
interests in accordance with Section 2.2.4(d).
Notwithstanding any other provision of this Agreement or the other Loan Documents, each Swing
Line Loan shall constitute a Base Rate Loan. Borrowers shall, jointly and severally, repay the
aggregate outstanding principal amount of each Swing Line Loan upon demand therefor by the
Administrative Agent.

          (b) The entire unpaid balance of each Swing Line Loan and all other noncontingent Obligations
shall be immediately due and payable in full in immediately available funds on the Termination Date
if not sooner paid in full.

          (c) The Swing Line Lender, at any time and from time to time no less frequently than once
weekly, shall on behalf of Borrowers (and Borrowers hereby irrevocably authorize the Swing Line
Lender to so act on their behalf) request each Lender with a Revolving Commitment (including the
Swing Line Lender) to make a Revolving Loan to Borrowers (which shall be a Base Rate Loan) in an
amount equal to that Lender’s Pro Rata Share of the principal amount of all Swing Line Loans (the
“Refunded Swing Line Loan”) outstanding on the date such notice is given. Unless any Lender is
prohibited from making such Revolving Loans due to the occurrence of any of the events described in
Section 13.1.4 (in which event the procedures of Section 2.2.4(d) shall apply) and
regardless of whether the conditions precedent set forth in this Agreement to the making of a
Revolving Loan are then satisfied, each Lender shall disburse directly to the Administrative Agent,
its Pro Rata Share on behalf of the Swing Line Lender, prior to 2:00 P.M., Chicago time, in
immediately available funds on the date that notice is given (provided that such notice is
given by 12:00 p.m., Chicago time, on such date, which shall be a Business Day). The proceeds of

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those Revolving Loans shall be immediately paid to the Swing Line Lender and applied to repay the
Refunded Swing Line Loan.

          (d) If, prior to refunding a Swing Line Loan with a Revolving Loan pursuant to Section
2.2.4(c), one of the events described in Section 13.1.4 has occurred and the Lenders
are precluded from making the relevant Revolving Loans by virtue of such event, then, subject to
the provisions of Section 2.2.4(e) below, each Lender shall, on the date such Revolving
Loan was to have been made for the benefit of Borrowers, purchase from the Swing Line Lender an
undivided participation interest in the Swing Line Loan in an amount equal to its Pro Rata Share of
such Swing Line Loan. Upon request, each Lender shall promptly transfer to the Swing Line Lender,
in immediately available funds, the amount of its participation interest.

          (e) Each Lender’s obligation to make Revolving Loans in accordance with Section
2.2.4(c) and to purchase participation interests in accordance with Section 2.2.4(d)
shall be absolute and unconditional and shall not be affected by any circumstance, including (i)
any setoff, counterclaim, recoupment, defense or other right that such Lender may have against the
Swing Line Lender, Borrowers or any other Person for any reason whatsoever; (ii) the occurrence or
continuance of any Unmatured Event of Default or Event of Default; (iii) any inability of Borrowers
to satisfy the conditions precedent to borrowing set forth in this Agreement at any time or (iv)
any other circumstance, happening or event whatsoever, whether or not similar to any of the
foregoing; provided, however, that a Lender shall not be obligated to make any such
Revolving Loan or to purchase any such participation interests in respect of Swing Line Loans
advanced one (1) Business Day following delivery by such
Lender to the Swing Line Lender of a written notification stating that such Lender shall cease
making Revolving Loans due to the failure of one or more conditions set forth in Section
12, and providing a reasonable identification of such unsatisfied conditions (it being
understood and agreed that any such written notification, once delivered, shall remain in effect as
between the Swing Line Lender and such Lender until terminated in writing by such Lender). If and
to the extent any Lender shall not have made such amount available to the Administrative Agent or
the Swing Line Lender, as applicable, by 2:00 P.M., Chicago time, the amount required pursuant to
Sections 2.2.4(c) or 2.2.4(d), as the case may be, on the Business Day on which
such Lender receives notice from the Administrative Agent of such payment or disbursement (it being
understood that any such notice received after noon, Chicago time, on any Business Day shall be
deemed to have been received on the next following Business Day), such Lender agrees to pay
interest on such amount to the Administrative Agent for the Swing Line Lender’s account forthwith
on demand, for each day from the date such amount was to have been delivered to the Administrative
Agent to the date such amount is paid, at a rate per annum equal to (a) for the first three days
after demand, the Federal Funds Rate from time to time in effect and (b) thereafter, the Base Rate
from time to time in effect.

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          2.3. Letter of Credit Procedures. 

          2.3.1. L/C Applications.

          Borrowers shall execute and deliver to the Issuing Lender the Master Letter of Credit
Agreement from time to time in effect. Each Borrower requesting the issuance of a Letter of Credit
hereunder shall direct Borrower Representative to give notice to the Administrative Agent and the
Issuing Lender of the proposed issuance of such Letter of Credit on a Business Day which is at
least three Business Days (or such lesser number of days as the Administrative Agent and the
Issuing Lender shall agree in any particular instance in their sole discretion) prior to the
proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an
L/C Application, duly executed by Borrower Representative and in all respects satisfactory to the
Administrative Agent and the Issuing Lender, together with such other documentation as the
Administrative Agent or the Issuing Lender may request in support thereof, it being understood that
each L/C Application shall specify, among other things, the date on which the proposed Letter of
Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than
the earlier of (i) one year from the issuance date thereof and (ii) 30 days prior to the scheduled
Termination Date (unless such Letter of Credit is Cash Collateralized)) and whether such Letter of
Credit is to be transferable in whole or in part. Any Letter of Credit outstanding after the
scheduled Termination Date which is Cash Collateralized for the benefit of the Issuing Lender shall
be the sole responsibility of the Issuing Lender (and no other Lender shall have any obligation to
make Revolving Loans or to purchase risk participations with respect thereto). So long as the
Issuing Lender has not received written notice that the conditions precedent set forth in
Section 12 with respect to the issuance of such Letter of Credit have not been satisfied,
the Issuing Lender shall issue such Letter of Credit on the requested issuance date. The Issuing
Lender shall promptly advise the Administrative Agent of the issuance of each Letter of Credit and
of any amendment thereto, extension thereof or event or circumstance changing the amount available
for drawing thereunder. In the event of
any inconsistency between the terms of the Master Letter of Credit Agreement, any L/C
Application and the terms of this Agreement, the terms of this Agreement shall control.

          2.3.2. Participations in Letters of Credit.

          Concurrently with the issuance of each Letter of Credit, the Issuing Lender shall be deemed to
have sold and transferred to each Lender with a Revolving Commitment, and each such Lender shall be
deemed irrevocably and unconditionally to have purchased and received from the Issuing Lender,
without recourse or warranty, an undivided interest and participation, to the extent of such
Lender’s Pro Rata Share, in such Letter of Credit and Borrowers’ reimbursement obligations with
respect thereto. If Borrowers do not pay any reimbursement obligation when due, Borrowers shall be
deemed to have immediately requested that the Lenders make a Revolving Loan which is a Base Rate
Loan in a principal amount equal to such reimbursement obligations. The Administrative Agent shall
promptly notify such Lenders of such deemed request and, without the necessity of compliance with
the requirements of Section 2.2.2, Section 12.2 or otherwise such Lender shall make
available to the Administrative Agent its Pro Rata Share of such Loan. The proceeds of such

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Loan
shall be paid over by the Administrative Agent to the Issuing Lender for the account of Borrowers
in satisfaction of such reimbursement obligations. For the purposes of this Agreement, the
unparticipated portion of each Letter of Credit shall be deemed to be the Issuing Lender’s
“participation” therein. The Issuing Lender hereby agrees, upon request of the Administrative
Agent or any Lender, to deliver to the Administrative Agent or such Lender a list of all
outstanding Letters of Credit issued by the Issuing Lender, together with such information related
thereto as the Administrative Agent or such Lender may reasonably request.

          2.3.3. Reimbursement Obligations.

          (a) Borrowers hereby unconditionally and irrevocably agree, jointly and severally, to
reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any
Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case
on the date that such payment or disbursement is made. Any amount not reimbursed on the date of
such payment or disbursement shall bear interest from the date of such payment or disbursement to
the date that the Issuing Lender is reimbursed by Borrowers therefor, payable on demand, at a rate
per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from
time to time in effect plus, beginning on the third Business Day after receipt of notice
from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify
Borrower Representative and the Administrative Agent whenever any demand for payment is made under
any Letter of Credit by the beneficiary thereunder; provided that the failure of the
Issuing Lender to so notify Borrower Representative or the Administrative Agent shall not affect
the rights of the Issuing Lender or the Lenders in any manner whatsoever.

          (b) Borrowers’ reimbursement obligations hereunder shall be irrevocable and unconditional
under all circumstances, including (a) any lack of validity or enforceability of any Letter of
Credit, this Agreement or any other Loan Document, (b) the existence of any claim, set-off, defense
or other right which any Loan Party may have at any time against a
beneficiary named in a Letter of Credit, any transferee of any Letter of Credit (or any Person
for whom any such transferee may be acting), the Administrative Agent, the Issuing Lender, any
Lender or any other Person, whether in connection with any Letter of Credit, this Agreement, any
other Loan Document, the transactions contemplated herein or any unrelated transactions (including
any underlying transaction between any Loan Party and the beneficiary named in any Letter of
Credit), (c) the validity, sufficiency or genuineness of any document which the Issuing Lender has
determined complies on its face with the terms of the applicable Letter of Credit, even if such
document should later prove to have been forged, fraudulent, invalid or insufficient in any respect
or any statement therein shall have been untrue or inaccurate in any respect, or (d) the surrender
or impairment of any security for the performance or observance of any of the terms hereof.
Without limiting the foregoing, no action or omission whatsoever by the Administrative Agent or any
Lender (excluding any Lender in its capacity as the Issuing Lender) under or in connection with any
Letter of Credit or any related matters shall result in any liability of the Administrative Agent
or any Lender to Borrowers, or relieve Borrowers of any of their obligations hereunder to any such
Person.

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          2.3.4. Funding by Lenders to Issuing Lender.

          If the Issuing Lender makes any payment or disbursement under any Letter of Credit and (a)
Borrowers have not reimbursed the Issuing Lender in full for such payment or disbursement by 11:00
A.M., Chicago time, on the date of such payment or disbursement, (b) a Revolving Loan may not be
made in accordance with Section 2.3.2 or (c) any reimbursement received by the Issuing
Lender from Borrowers is or must be returned or rescinded upon or during any bankruptcy or
reorganization of Borrowers or otherwise, each other Lender with a Revolving Commitment shall be
obligated to pay to the Administrative Agent for the account of the Issuing Lender, in full or
partial payment of the purchase price of its participation in such Letter of Credit, its Pro Rata
Share of such payment or disbursement (but no such payment shall diminish the obligations of
Borrowers under Section 2.3.3), and, upon notice from the Issuing Lender, the
Administrative Agent shall promptly notify each other Lender thereof. Each other Lender
irrevocably and unconditionally agrees to so pay to the Administrative Agent in immediately
available funds for the Issuing Lender’s account the amount of such other Lender’s Pro Rata Share
of such payment or disbursement. If and to the extent any Lender shall not have made such amount
available to the Administrative Agent by 2:00 P.M., Chicago time, on the Business Day on which such
Lender receives notice from the Administrative Agent of such payment or disbursement (it being
understood that any such notice received after noon, Chicago time, on any Business Day shall be
deemed to have been received on the next following Business Day), such Lender agrees to pay
interest on such amount to the Administrative Agent for the Issuing Lender’s account forthwith on
demand, for each day from the date such amount was to have been delivered to the Administrative
Agent to the date such amount is paid, at a rate per annum equal to (a) for the first three days
after demand, the Federal Funds Rate from time to time in effect and (b) thereafter, the Base Rate
from time to time in effect. Any Lender’s failure to make available to the Administrative Agent
its Pro Rata Share of any such payment or disbursement shall not relieve any other Lender of its
obligation hereunder to make available to the Administrative Agent such other Lender’s Pro Rata
Share of such payment, but no Lender shall be responsible for the failure of any other Lender to
make
available to the Administrative Agent such other Lender’s Pro Rata Share of any such payment
or disbursement.

          2.4. Commitments Several. 

          The failure of any Lender to make a requested Loan on any date shall not relieve any other
Lender of its obligation (if any) to make a Loan on such date, but no Lender shall be responsible
for the failure of any other Lender to make any Loan to be made by such other Lender.

          2.5. Certain Conditions. 

          Except as otherwise provided in Sections 2.2.4 and 2.3.4 of this Agreement, no
Lender shall have an obligation to make any Loan, or to permit the continuation of or any
conversion into any LIBOR Loan, and the Issuing Lender shall not have any obligation to issue any
Letter of Credit, if an Event of Default or Unmatured Event of Default exists.

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          2.6. Effect of Amendment and Restatement. 

          (a) Upon the execution and delivery of this Agreement, the indebtedness, obligations and other
liabilities of Roadrunner governed by the Restated Credit Agreement (collectively, the “Prior
Obligations”) shall continue in full force and effect, but shall be governed by the terms and
conditions set forth in this Agreement. The Prior Obligations, together with any and all
additional Obligations incurred by Borrowers hereunder or under any of the other Loan Documents
shall continue to be secured by substantially all assets of each Borrower, whether now existing or
hereafter acquired and wheresoever located, all as more specifically set forth in the Guaranty and
Collateral Agreement. The execution and delivery of this Agreement shall constitute an amendment,
replacement and restatement (but not a novation or repayment) of the Prior Obligations.

          (b) The Commitments of each Lender under this Agreement, as of the Closing Date, are set forth
on Annex A hereto. Immediately prior to the effectiveness of this Agreement, the
“Commitments” of the Lenders under the Restated Credit Agreement were as set forth on Annex
A to the Restated Credit Agreement, as modified pursuant to the terms of certain “Assignment
Agreements” entered into in connection with, and as such term is defined in, the Restated Credit
Agreement. On the Closing Date, each Lender agrees to purchase and sell from each other Lender, as
necessary and in amounts calculated by the Administrative Agent and notified to such Lender, such
portions of the Commitments and the outstanding Loans as are necessary so that immediately after
the effectiveness of this Agreement, and the completion of such purchases and sales, each Lender
has the Commitments and the outstanding Loans set forth on Annex A hereto. Notwithstanding
the foregoing, Borrowers, Lenders and Administrative Agent hereby agree that any and all accrued
and unpaid interest on the “Loans” under, and as such term is defined in, the Restated Credit
Agreement, together with any and all accrued and unpaid fees, charges and expenses owing under the
Restated Credit Agreement, shall be due and payable for the pro rata benefit of the lenders under
the Restated Credit Agreement on the date hereof.

          2.7. Joint and Several Liability.

          (a) Each Borrower acknowledges that it is jointly and severally liable for all of the
Obligations, and as a result hereby unconditionally guaranties the full and prompt payment when
due, whether at maturity or earlier, by reason of acceleration or otherwise, and at all times
thereafter, of all Obligations of the other Borrowers to Administrative Agent and Lenders,
howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, joint
or several, now or hereafter existing, or due or to become due, and howsoever owned, held or
acquired by Lenders. Each Borrower agrees that if this guaranty, or any Liens securing this
guaranty, would, but for the application of this sentence, be unenforceable under applicable law,
this guaranty and each such Lien shall be valid and enforceable to the maximum extent that would
not cause this guaranty or such Lien to be unenforceable under applicable law, and this guaranty
and such Lien shall automatically be deemed to have been amended accordingly at all relevant times.

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          (b) Each Borrower hereby agrees that its obligations under this guaranty shall be
unconditional, irrespective of (a) the validity or enforceability of the Obligations or any part
thereof, or of any promissory note or other document evidencing all or any part of the Obligations,
(b) the absence of any attempt to collect the Obligations from a Borrower or any other guarantor or
other action to enforce the same, (c) the waiver or consent by Administrative Agent or Lenders with
respect to any provision of any agreement, instrument or document evidencing or securing all or any
part of the Obligations, or any other agreement, instrument or document now or hereafter executed
by a Borrower and delivered to Administrative Agent or Lenders, (d) the failure by Administrative
Agent or Lenders to take any steps to perfect and maintain its security interest in, or to preserve
its rights to, any security or collateral for the Obligations, for its benefit, (e) Administrative
Agent’s or Lenders’ election, in any proceeding instituted under the United States Bankruptcy Code,
of the application of Section 1111(b)(2) of the United States Bankruptcy Code, (f) any borrowing or
grant of a security interest by a Borrower as debtor-in-possession, under Section 364 of the
United States Bankruptcy Code, (g) the disallowance, under Section 502 of the United States
Bankruptcy Code, of all or any portion of Administrative Agent’s or Lenders’ claim(s) for repayment
of the Obligations, or (h) any other circumstance which might otherwise constitute a legal or
equitable discharge or defense of a Borrower or a guarantor.

          (c) Each Borrower hereby waives diligence, presentment, demand of payment, filing of claims
with a court in the event of receivership or bankruptcy of a Borrower, protest or notice with
respect to the Obligations and all demands whatsoever, and covenants that this guaranty will not be
discharged, except by complete and irrevocable payment and performance of the Obligations. No
notice to a Borrower or any other party shall be required for Administrative Agent or Lenders to
make demand hereunder, except as otherwise expressly provided for herein. Such demand shall
constitute a mature and liquidated claim against a Borrower. Upon the occurrence of any Event of
Default, Administrative Agent may, in its sole election, proceed directly and at once, without
notice, against any Borrower to collect and recover the full amount or any portion of the
Obligations, without first proceeding against any other Borrower, any other person, firm,
corporation, or any security or collateral for the Obligations. Administrative Agent shall
have the exclusive right to determine the application of payments and credits, if any from any
Borrower, any other person, firm or corporation, or any security or collateral for the Obligations,
on account of the Obligations or of any other liability of a Borrower to Administrative Agent or
Lenders.

          (d) At any time after and during the continuance of an Event of Default, Administrative Agent
and any Lender may, in its sole discretion, without notice to a Borrower and regardless of the
acceptance of any collateral for the payment hereof, appropriate and apply toward payment of the
Obligations (i) any indebtedness due or to become due from Administrative Agent or any Lender to
such Borrower and (ii) any moneys, credits or other property belonging to such Borrower at any time
held by or coming into the possession of Administrative Agent, any Lender or any affiliates
thereof, whether for deposit or otherwise.

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          (e) Nothing contained in this Section 2.7 shall be deemed to amend or otherwise modify
the obligations of the Borrowers set forth in the Guaranty and Collateral Agreement.

          2.8. Borrower Representative.

          Each Borrower hereby designates Roadrunner as its representative and agent on its behalf for
the purposes of issuing Notices of Borrowing and Notices of Conversion/Continuation, giving
instructions with respect to the disbursement of the proceeds of the Loans, selecting interest rate
options, giving and receiving all other notices and consents hereunder or under any of the other
Loan Documents and taking all other actions (including in respect of compliance with covenants) on
behalf of any Borrower or Borrowers under the Loan Documents. Borrower Representative hereby
accepts such appointment. Notwithstanding anything to the contrary contained in this Agreement, no
Borrower other than Borrower Representative shall be entitled to take any of the foregoing actions.
The proceeds of each Loan made hereunder shall be advanced to or at the direction of Borrower
Representative and if not used by Borrower Representative in its business (for the purposes
provided in this Agreement) shall be deemed to be immediately advanced by Borrower Representative
to the appropriate other Borrowers hereunder as an intercompany loan (collectively, “Intercompany
Loans”). All collections of each Borrower in respect of Accounts and other proceeds of Collateral
of such Borrower received by Administrative Agent and applied to the Obligations shall be deemed to
be repayments of the Intercompany Loans owing by such Borrower to Borrower Representative.
Borrowers shall maintain accurate books and records with respect to all Intercompany Loans and all
repayments thereof. Administrative Agent and each Lender may regard any notice or other
communication pursuant to any Loan Document from Borrower Representative as a notice or
communication from all Borrowers, and may give any notice or communication required or permitted to
be given to any Borrower or all Borrowers hereunder to Borrower Representative on behalf of such
Borrower or all Borrowers. Each Borrower agrees that each notice, election, representation and
warranty, covenant, agreement and undertaking made on its behalf by Borrower Representative shall
be deemed for all purposes to have been made by such Borrower and shall be binding upon and
enforceable against such Borrower to the same extent as if the same had been made directly by such
Borrower.

     SECTION 3. EVIDENCING OF LOANS.

          3.1. Notes.

          The Loans of each Lender shall be evidenced by a Note, with appropriate insertions, payable to
the order of such Lender in a face principal amount equal to the sum of such Lender’s Revolving
Commitment plus the principal amount of such Lender’s Term Loan.

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          3.2. Recordkeeping.

          The Administrative Agent, on behalf of each Lender, shall record in its records, the date and
amount of each Loan made by each Lender, each repayment or conversion thereof and, in the case of
each LIBOR Loan, the dates on which each Interest
Period for such Loan shall begin and end. The aggregate unpaid principal amount so recorded
shall be rebuttably presumptive evidence of the principal amount of the Loans owing and unpaid.
The failure to so record any such amount or any error in so recording any such amount shall not,
however, limit or otherwise affect the Obligations of Borrowers hereunder or under any Note to
repay the principal amount of the Loans hereunder, together with all interest accruing thereon.

     SECTION 4. INTEREST.

          4.1. Interest Rates.

          Borrowers promise, jointly and severally, to pay interest on the unpaid principal amount of
each Loan for the period commencing on the date of such Loan until such Loan is paid in full as
follows:

          (a) at all times while such Loan is a Base Rate Loan, at a rate per annum equal to the sum of
the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect;
and

          (b) at all times while such Loan is a LIBOR Loan, at a rate per annum equal to the sum of the
LIBOR Rate applicable to each Interest Period for such Loan plus the LIBOR Margin from time to time
in effect;

provided that at any time an Event of Default exists, unless the Required Lenders otherwise
consent, the interest rate applicable to each Loan shall be increased by 2% (and, in the case of
Obligations not bearing interest and for which a payment demand has been made, such Obligations
shall bear interest at the Base Rate applicable to Revolving Loans plus 2%), provided
further that such increase may thereafter be rescinded by the Required Lenders,
notwithstanding Section 15.1. Notwithstanding the foregoing, upon the occurrence of an
Event of Default under Sections 13.1.1 or 13.1.4, such increase shall occur
automatically.

          4.2. Interest Payment Dates.

          Accrued interest on each Base Rate Loan shall be payable in arrears on the last day of each
calendar quarter and at maturity. Accrued interest on each LIBOR Loan shall be payable on the last
day of each Interest Period relating to such Loan (and, in the case of a LIBOR Loan with an
Interest Period in excess of three months, on the three-month anniversary of the first day of such
Interest Period), upon a prepayment of such Loan, and at maturity. After maturity, and at any time
an Event of Default exists, accrued interest on all Loans shall be payable on demand.

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          4.3. Setting and Notice of LIBOR Rates.

          The applicable LIBOR Rate for each Interest Period shall be determined by the Administrative
Agent, and notice thereof shall be given by the Administrative Agent promptly to Borrower
Representative and each Lender. Each determination of the applicable LIBOR Rate by the
Administrative Agent shall be conclusive and binding upon the parties hereto, in the absence of
demonstrable error. The Administrative Agent shall, upon written request of Borrower
Representative or any Lender, deliver to Borrower Representative or
such Lender a statement showing the computations used by the Administrative Agent in
determining any applicable LIBOR Rate hereunder.

          4.4. Computation of Interest.

          Interest shall be computed for the actual number of days elapsed on the basis of a year of 360
days. The applicable interest rate for each Base Rate Loan shall change simultaneously with each
change in the Base Rate.

     SECTION 5. FEES.

          5.1. Non-Use Fee.

          Borrowers agree, jointly and severally, to pay to the Administrative Agent for the account of
each Lender a non-use fee, for the period from the Closing Date to the Termination Date, at the
Non-Use Fee Rate in effect from time to time of such Lender’s Pro Rata Share (as adjusted from time
to time) of the unused amount of the Revolving Commitment. For purposes of calculating usage under
this Section, the Revolving Commitment shall be deemed used to the extent of Revolving
Outstandings. Such non-use fee shall be payable in arrears on the last day of each calendar
quarter and on the Termination Date for any period then ending for which such non-use fee shall not
have previously been paid. The non-use fee shall be computed for the actual number of days elapsed
on the basis of a year of 360 days.

          5.2. Letter of Credit Fees.

          (a) Borrowers agree, jointly and severally, to pay to the Administrative Agent for the account
of each Lender a letter of credit fee for each Letter of Credit equal to the L/C Fee Rate in effect
from time to time of such Lender’s Pro Rata Share (as adjusted from time to time) of the undrawn
amount of such Letter of Credit (computed for the actual number of days elapsed on the basis of a
year of 360 days); provided that, unless the Required Lenders otherwise consent, the rate
applicable to each Letter of Credit shall be increased by 2% at any time that an Event of Default
exists. Such letter of credit fee shall be payable in arrears on the last day of each calendar
quarter and on the Termination Date (or such later date on which such Letter of Credit expires or
is terminated) for the period from the date of the issuance of each Letter of Credit (or the last
day on which the letter of credit fee was paid with respect thereto) to the date such payment is
due or, if earlier, the date on which such Letter of Credit expired or was terminated.

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          (b) In addition, with respect to each Letter of Credit, Borrowers agree, jointly and
severally, to pay to the Issuing Lender, for its own account, (i) such fees and expenses as the
Issuing Lender customarily requires in connection with the issuance, negotiation, processing and/or
administration of letters of credit in similar situations and (ii) a letter of credit fronting fee
in the amount and at the times agreed to by Borrowers and the Issuing Lender.

          5.3. Administrative Agent’s Fees.

          Borrowers agree, jointly and severally, to pay to the Administrative Agent such agent’s fees
as are mutually agreed to from time to time by Borrowers and the Administrative Agent including the
fees set forth in the Agent Fee Letter.

     SECTION 6. REDUCTION OR TERMINATION OF THE REVOLVING COMMITMENT; PREPAYMENTS.

          6.1. Reduction or Termination of the Revolving Commitment.

          6.1.1. Voluntary Reduction or Termination of the Revolving Commitment.

          Borrowers may from time to time on at least five Business Days’ prior written notice from
Borrower Representative to the Administrative Agent (which shall promptly advise each Lender
thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving
Outstandings plus the outstanding amount of all Swing Line Loans. Any such reduction shall
be in an amount not less than $1,000,000 or a higher integral multiple of $500,000. Concurrently
with any reduction of the Revolving Commitment to zero, Borrowers shall, jointly and severally, pay
all interest on the Revolving Loans, all non-use fees and all letter of credit fees and shall Cash
Collateralize in full all obligations arising with respect to the Letters of Credit.

          6.1.2. No Mandatory Reductions of Revolving Commitment.

          On the date of any Mandatory Prepayment Event, the Revolving Commitment shall not be
permanently reduced (but any outstanding Revolving Loans shall nonetheless be prepaid) by an amount
(if any) equal to the Designated Proceeds of such Mandatory Prepayment Event over the amount (if
any) applied to prepay the Term Loan pursuant to Section 6.2.2.

          6.1.3. All Reductions of the Revolving Commitment.

          All reductions of the Revolving Commitment shall reduce the Revolving Commitments ratably
among the Lenders according to their respective Pro Rata Shares.

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          6.2. Prepayments.

          6.2.1. Voluntary Prepayments.

          Borrowers may from time to time prepay the Loans in whole or in part; provided that
Borrower Representative shall give the Administrative Agent (which shall promptly advise each
Lender) notice thereof not later than 11:00 A.M., Chicago time, on the day of such prepayment
(which shall be a Business Day), specifying the Loans to be prepaid and the date and amount of
prepayment. Any such partial prepayment shall be in an amount equal to $100,000 or a higher
integral multiple of $50,000. Payments or prepayments of Revolving Loans may be reborrowed,
subject to the terms and conditions of this Agreement. Payments or prepayments of the Term Loan
may not be reborrowed.

          6.2.2. Mandatory Prepayments.

          (a) Borrowers shall, jointly and severally, make a prepayment of the Loans until paid in full
upon the occurrence of any of the following (each a “Mandatory Prepayment Event”) at the following
times and in the following amounts (such applicable amounts being referred to as “Designated
Proceeds”):

          (i) Concurrently with the receipt by any Loan Party of any Net Cash Proceeds from any
Asset Disposition, in an amount equal to 100% of such Net Cash Proceeds.

          (ii) Concurrently with the receipt by any Loan Party of any Net Cash Proceeds from any
issuance of Capital Securities of any Loan Party (excluding (x) any issuance of Capital
Securities by Holdings pursuant to any employee or director option program, benefit plan or
compensation program and (y) any issuance by a Subsidiary to Borrowers or another
Subsidiary), in an amount equal to 100% of such Net Cash Proceeds.

          (iii) Concurrently with the receipt by any Loan Party of any Net Cash Proceeds from any
issuance of any Debt of any Loan Party (excluding Debt permitted by clauses (a)
through (m) of Section 11.1), in an amount equal to 100% of such Net Cash
Proceeds.

          (iv) Within 105 days after the end of each Fiscal Year (commencing with Fiscal Year
2007), in an amount equal to the excess, if any, of (A) 50% of Excess Cash Flow for such
Fiscal Year minus (B) the aggregate amount of voluntary prepayments of the Term Loan
pursuant to Section 6.2.1 made during such Fiscal Year; provided that if the Total
Debt to EBITDA Ratio for the Computation Period ending the last day of any Fiscal Year is
less than 2.50 to 1.0, then no mandatory prepayment shall be due and owing pursuant to this
clause (iv) for such Fiscal Year.

          (b) If on any day the Revolving Outstandings plus the outstanding amount of the Swing
Line Loan exceeds the Borrowing Base, Borrowers shall, jointly and severally, immediately prepay
Revolving Loans and/or Cash Collateralize the outstanding Letters of

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Credit, or do a combination of the foregoing, in an amount sufficient to eliminate such excess.

          6.3. Manner of Prepayments.

          6.3.1. All Prepayments.

          Any partial prepayment of a Group of LIBOR Loans shall be subject to the proviso to
Section 2.2.3(a). Any prepayment of a LIBOR Loan on a day other than the last day of an
Interest Period therefor shall include interest on the principal amount being repaid and shall be
subject to Section 8.4. All prepayments of the Term Loan shall be applied pro rata to the
remaining installments thereof. Except as otherwise provided by this Agreement, all principal
payments in respect of the Loans (other than the Swing Line Loans) shall be applied first, to repay
outstanding Base Rate Loans and then to repay outstanding LIBOR Rate Loans in direct order of
Interest Period maturities.

          6.4. Repayments.

          6.4.1. Revolving Loans.

          The Revolving Loans of each Lender shall be paid in full and the Revolving Commitment shall
terminate on the Termination Date.

          6.4.2. Term Loan.

          The Term Loan of each Lender shall be paid in installments equal to such Lender’s Pro Rata
Share of the aggregate principal amount of the installments of the Term Loan as follows:

	 	 	 	 	 
	Payment Date	 	Amount
	 
	 	 	 	 
	March 31, 2007

	 	$	250,000	 
	June 30, 2007

	 	$	250,000	 
	September 30, 2007

	 	$	250,000	 
	December 31, 2007

	 	$	3,250,000	 
	March 31, 2008

	 	$	1,250,000	 
	June 30, 2008

	 	$	1,250,000	 
	September 30, 2008

	 	$	1,250,000	 
	December 31, 2008

	 	$	1,250,000	 
	March 31, 2009

	 	$	1,375,000	 
	June 30, 2009

	 	$	1,375,000	 
	September 30, 2009

	 	$	1,375,000	 
	December 31, 2009

	 	$	1,375,000	 
	March 31, 2010

	 	$	1,500,000	 
	June 30, 2010

	 	$	1,500,000	 
	September 30, 2010

	 	$	1,500,000	 
	December 31, 2010

	 	$	1,500,000	 

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	Payment Date	 	Amount
	 
	 	 	 	 
	March 31, 2011

	 	$	1,750,000	 
	June 30, 2011

	 	$	1,750,000	 
	September 30, 2011

	 	$	1,750,000	 
	December 31, 2011

	 	$	1,750,000	 

Unless sooner paid in full, the outstanding principal balance of the Term Loan shall be paid in
full on the Term Loan Maturity Date.

     SECTION 7. MAKING AND PRORATION OF PAYMENTS; SETOFF; TAXES.

          7.1. Making of Payments.

          All payments of principal or interest on the Notes, and of all fees, shall be made by
Borrowers, on a joint and several basis, to the Administrative Agent in immediately available funds
at the office specified by the Administrative Agent not later than noon, Chicago time, on the date
due; and funds received after that hour shall be deemed to have been received by the Administrative
Agent on the following Business Day. The
Administrative Agent shall promptly remit to each Lender its share of all such payments
received in collected funds by the Administrative Agent for the account of such Lender. All
payments under Section 8.1 shall be made by Borrowers, on a joint and several basis, directly to
the Lender entitled thereto without setoff, counterclaim or other defense.

          7.2. Application of Certain Payments.

          So long as no Event of Default has occurred and is continuing, (a) payments matching specific
scheduled payments then due shall be applied to those scheduled payments and (b) voluntary and
mandatory prepayments shall be applied as set forth in Sections 6.2 and 6.3. After
the occurrence and during the continuance of an Event of Default, all amounts collected or received
by the Administrative Agent or any Lender as proceeds from the sale of, or other realization upon,
all or any part of the Collateral shall be applied in the order of application specified in the
last sentence of Section 6.5 of the Guaranty and Collateral Agreement (without giving
effect to any alternative specific distribution determined by the Administrative Agent as otherwise
permitted by that Section). Concurrently with each remittance to any Lender of its share of any
such payment, the Administrative Agent shall advise such Lender as to the application of such
payment.

          7.3. Due Date Extension.

          If any payment of principal or interest with respect to any of the Loans, or of any fees,
falls due on a day which is not a Business Day, then such due date shall be extended to the
immediately following Business Day (unless, in the case of a LIBOR Loan, such immediately following
Business Day is the first Business Day of a calendar month, in which case such due date shall be
the immediately preceding Business Day) and, in the case

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of principal, additional interest shall
accrue and be payable for the period of any such extension.

          7.4. Setoff.

          Borrowers, for themselves and each other Loan Party, agree that the Administrative Agent and
each Lender have all rights of set-off and bankers’ lien provided by applicable law, and in
addition thereto, Borrowers, for themselves and each other Loan Party, agree that at any time any
Event of Default exists, the Administrative Agent and each Lender may apply to the payment of any
Obligations of Borrowers and each other Loan Party hereunder, whether or not then due, any and all
balances, credits, deposits, accounts or moneys of Borrowers and each other Loan Party then or
thereafter with the Administrative Agent or such Lender.

          7.5. Proration of Payments.

          If any Lender shall obtain any payment or other recovery (whether voluntary, involuntary, by
application of offset or otherwise, on account of (a) principal of or interest on any Loan, but
excluding (i) any payment pursuant to Section 8.7 or 15.6 and (ii) payments of
interest on any Affected Loan) or (b) its participation in any Letter of Credit) in excess of its
applicable Pro Rata Share of payments and other recoveries obtained by all Lenders on account of
principal of and interest on the Loans (or such participation) then held by them,
then such Lender shall purchase from the other Lenders such participations in the Loans (or
sub-participations in Letters of Credit) held by them as shall be necessary to cause such
purchasing Lender to share the excess payment or other recovery ratably with each of them;
provided that if all or any portion of the excess payment or other recovery is thereafter
recovered from such purchasing Lender, the purchase shall be rescinded and the purchase price
restored to the extent of such recovery.

          7.6. Taxes.

          (a) All payments made by Borrowers hereunder or under any Loan Documents shall be made without
setoff, counterclaim, or other defense. To the extent permitted by applicable law, all payments
hereunder or under the Loan Documents (including any payment of principal, interest, or fees) to,
or for the benefit, of any person shall be made by Borrowers free and clear of and without
deduction or withholding for, or account of, any Taxes now or hereinafter imposed by any taxing
authority.

          (b) If Borrowers make any payment hereunder or under any Loan Document in respect of which it
is required by applicable law to deduct or withhold any Taxes, Borrowers shall increase the payment
hereunder or under any such Loan Document such that after the reduction for the amount of Taxes
withheld (and any taxes withheld or imposed with respect to the additional payments required under
this Section 7.6(b)), the amount paid to the Lenders or the Administrative Agent equals the
amount that was payable hereunder or under any such Loan Document without regard to this
Section 7.6(b). To the extent Borrowers withhold any Taxes on payments hereunder or under
any Loan Document,

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Borrowers shall pay the full amount deducted to the relevant taxing authority
within the time allowed for payment under applicable law and shall deliver to the Administrative
Agent within 30 days after it has made payment to such authority a receipt issued by such authority
(or other evidence satisfactory to the Administrative Agent) evidencing the payment of all amounts
so required to be deducted or withheld from such payment.

          (c) If any Lender or the Administrative Agent is required by law to make any payments of any
Taxes on or in relation to any amounts received or receivable hereunder or under any other Loan
Document, or any Tax is assessed against a Lender or the Administrative Agent with respect to
amounts received or receivable hereunder or under any other Loan Document, Borrowers will, jointly
and severally, indemnify such person against (i) such Tax (and any reasonable counsel fees and
expenses associated with such Tax) and (ii) any taxes imposed as a result of the receipt of the
payment under this Section 7.6(c). A certificate prepared in good faith as to the amount
of such payment by such Lender or the Administrative Agent shall, absent manifest error, be final,
conclusive, and binding on all parties.

          (d) (i) To the extent permitted by applicable law, each Lender that is not a United States
person within the meaning of Code Section 7701(a)(30) (a “Non-U.S. Participant”) shall deliver to
Borrower Representative and the Administrative Agent on or prior to the Closing Date (or in the
case of a Lender that is an Assignee, on the date of such assignment to such Lender) two accurate
and complete original signed copies of IRS Form W-8BEN, W-8ECI, or W-8IMY (or any successor or
other applicable form prescribed by the IRS) certifying to such Lender’s entitlement to a complete
exemption from, or a reduced rate
in, United States withholding tax on interest payments to be made hereunder or any Loan. If a
Lender that is a Non-U.S. Participant is claiming a complete exemption from withholding on interest
pursuant to Code Sections 871(h) or 881(c), the Lender shall deliver (along with two accurate and
complete original signed copies of IRS Form W-8BEN) a certificate in form and substance reasonably
acceptable to Administrative Agent (any such certificate, a “Withholding Certificate”). In
addition, each Lender that is a Non-U.S. Participant agrees that from time to time after the
Closing Date (or in the case of a Lender that is an Assignee, after the date of the assignment to
such Lender), when a lapse in time (or change in circumstances occurs) renders the prior
certificates hereunder obsolete or inaccurate in any material respect, such Lender shall, to the
extent permitted under applicable law, deliver to Borrower Representative and the Administrative
Agent two new and accurate and complete original signed copies of an IRS Form W-8BEN, W-8ECI, or
W-8IMY (or any successor or other applicable forms prescribed by the IRS), and if applicable, a new
Withholding Certificate, to confirm or establish the entitlement of such Lender or the
Administrative Agent to an exemption from, or reduction in, United States withholding tax on
interest payments to be made hereunder or any Loan.

          (ii) Each Lender that is not a Non-U.S. Participant (other than any such Lender which
is taxed as a corporation for U.S. federal income tax purposes) shall provide two properly
completed and duly executed copies of IRS Form W-9 (or any successor or other applicable
form) to Borrower Representative and the Administrative Agent certifying that such Lender is
exempt from United States

-45-

 

backup withholding tax. To the extent that a form provided
pursuant to this Section 7.6(d)(ii) is rendered obsolete or inaccurate in any
material respects as result of change in circumstances with respect to the status of a
Lender, such Lender shall, to the extent permitted by applicable law, deliver to Borrowers
and the Administrative Agent revised forms necessary to confirm or establish the entitlement
to such Lender’s or Administrative Agent’s exemption from United States backup withholding
tax.

          (iii) Borrowers shall not be required to pay additional amounts to a Lender, or
indemnify any Lender, under this Section 7.6 to the extent that such obligations
would not have arisen but for the failure of such Lender to comply with Section
7.6(d).

          (iv) Each Lender agrees to indemnify the Administrative Agent and hold the
Administrative Agent harmless for the full amount of any and all present or future Taxes and
related liabilities (including penalties, interest, additions to tax and expenses, and any
Taxes imposed by any jurisdiction on amounts payable to the Administrative Agent under this
Section 7.6) which are imposed on or with respect to principal, interest or fees
payable to such Lender hereunder and which are not paid by Borrowers pursuant to this
Section 7.6, whether or not such Taxes or related liabilities were correctly or
legally asserted. This indemnification shall be made within 30 days from the date the
Administrative Agent makes written demand therefor.

     SECTION 8. INCREASED COSTS; SPECIAL PROVISIONS FOR LIBOR LOANS.

          8.1. Increased Costs.

          (a) If, after the date hereof, the adoption of, or any change in, any applicable law, rule or
regulation, or any change in the interpretation or administration of any applicable law, rule or
regulation by any governmental authority, central bank or comparable agency charged with the
interpretation or administration thereof, or compliance by any Lender with any request or directive
(whether or not having the force of law) of any such authority, central bank or comparable agency:
(i) shall impose, modify or deem applicable any reserve (including any reserve imposed by the FRB,
but excluding any reserve included in the determination of the LIBOR Rate pursuant to Section
4), special deposit or similar requirement against assets of, deposits with or for the account
of, or credit extended by any Lender; or (ii) shall impose on any Lender any other condition
affecting its LIBOR Loans, its Note or its obligation to make LIBOR Loans; and the result of
anything described in clauses (i) and (ii) above is to increase the cost to (or to impose a cost
on) such Lender (or any LIBOR Office of such Lender) of making or maintaining any LIBOR Loan, or to
reduce the amount of any sum received or receivable by such Lender (or its LIBOR Office) under this
Agreement or under its Note with respect thereto, then upon demand by such Lender (which demand
shall be accompanied by a statement setting forth the basis for such demand and a calculation of
the amount thereof in reasonable detail, a copy of which shall be furnished to the Administrative
Agent), Borrowers shall, jointly and severally, pay directly to such Lender such additional amount
as will compensate such Lender for such increased cost or

-46-

 

such reduction, so long as such amounts
have accrued on or after the day which is 180 days prior to the date on which such Lender first
made demand therefor.

          (b) If any Lender shall reasonably determine that, after the date hereof, any change in, or
the adoption or phase-in of, any applicable law, rule or regulation regarding capital adequacy, or
any change in the interpretation or administration thereof by any governmental authority, central
bank or comparable agency charged with the interpretation or administration thereof, or the
compliance by any Lender or any Person controlling such Lender with any request or directive
regarding capital adequacy (whether or not having the force of law) of any such authority, central
bank or comparable agency, has or would have the effect of reducing the rate of return on such
Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations
hereunder or under any Letter of Credit to a level below that which such Lender or such controlling
Person could have achieved but for such change, adoption, phase-in or compliance (taking into
consideration such Lender’s or such controlling Person’s policies with respect to capital adequacy)
by an amount deemed by such Lender or such controlling Person to be material, then from time to
time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth
the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of
which shall be furnished to the Administrative Agent), Borrowers shall, jointly and severally, pay
to such Lender such additional amount as will compensate such Lender or such controlling Person for
such reduction so long as such amounts have accrued on or after the day which is 180 days prior to
the date on which such Lender first made demand therefor.

          8.2. Basis for Determining Interest Rate Inadequate or Unfair.

          If:

          (a) the Administrative Agent reasonably determines (which determination shall be binding and
conclusive on Borrowers) that by reason of circumstances affecting the interbank LIBOR market
adequate and reasonable means do not exist for ascertaining the applicable LIBOR Rate; or

          (b) the Required Lenders advise the Administrative Agent that the LIBOR Rate as determined by
the Administrative Agent will not adequately and fairly reflect the cost to such Lenders of
maintaining or funding LIBOR Loans for such Interest Period (taking into account any amount to
which such Lenders may be entitled under Section 8.1) or that the making or funding of
LIBOR Loans has become impracticable as a result of an event occurring after the date of this
Agreement which in the opinion of such Lenders materially affects such Loans;

then the Administrative Agent shall promptly notify the Lenders and Borrower Representative
thereof and, so long as such circumstances shall continue, (i) no Lender shall be under any
obligation to make or convert any Base Rate Loans into LIBOR Loans and (ii) on the last day of the
current Interest Period for each LIBOR Loan, such Loan shall, unless then repaid in full,
automatically convert to a Base Rate Loan.

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          8.3. Changes in Law Rendering LIBOR Loans Unlawful.

          If, after the date hereof, any change in, or the adoption of any new, law or regulation, or
any change in the interpretation of any applicable law or regulation by any governmental or other
regulatory body charged with the administration thereof, should make it (or in the good faith
judgment of any Lender cause a substantial question as to whether it is) unlawful for any Lender to
make, maintain or fund LIBOR Loans, then such Lender shall promptly notify Administrative Agent and
Borrower Representative thereof and, so long as such circumstances shall continue, (a) such Lender
shall have no obligation to make or convert any Base Rate Loan into a LIBOR Loan (but shall make
Base Rate Loans concurrently with the making of or conversion of Base Rate Loans into LIBOR Loans
by the Lenders which are not so affected, in each case in an amount equal to the amount of LIBOR
Loans which would be made or converted into by such Lender at such time in the absence of such
circumstances) and (b) on the last day of the current Interest Period for each LIBOR Loan of such
Lender (or, in any event, on such earlier date as may be required by the relevant law, regulation
or interpretation), such LIBOR Loan shall, unless then repaid in full, automatically convert to a
Base Rate Loan. Each Base Rate Loan made by a Lender which, but for the circumstances described in
the foregoing sentence, would be a LIBOR Loan (an “Affected Loan”) shall remain outstanding for the
period corresponding to the Group of LIBOR Loans of which such Affected Loan would be a part absent
such circumstances.

          8.4. Funding Losses.

          Borrowers hereby agree that upon demand by any Lender delivered to Borrower Representative
(which demand shall be accompanied by a statement setting forth
the basis for the amount being claimed, a copy of which shall be furnished to the
Administrative Agent), Borrowers will, jointly and severally, indemnify such Lender against any net
loss or expense which such Lender may sustain or incur (including any net loss or expense incurred
by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to
fund or maintain any LIBOR Loan), as reasonably determined by such Lender, as a result of (a) any
payment, prepayment or conversion of any LIBOR Loan of such Lender on a date other than the last
day of an Interest Period for such Loan (including any conversion pursuant to Section 8.3)
or (b) any failure of Borrowers to borrow, convert or continue any Loan on a date specified
therefor in a notice of borrowing, conversion or continuation pursuant to this Agreement. For this
purpose, all notices to the Administrative Agent pursuant to this Agreement shall be deemed to be
irrevocable.

          8.5. Right of Lenders to Fund through Other Offices.

          Each Lender may, if it so elects, fulfill its commitment as to any LIBOR Loan by causing a
foreign branch or Affiliate of such Lender to make such Loan; provided that in such event
for the purposes of this Agreement such Loan shall be deemed to have been made by such Lender and
the joint and several obligation of Borrowers to repay such Loan shall nevertheless be to such
Lender and shall be deemed held by it, to the extent of such Loan, for the account of such branch
or Affiliate.

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          8.6. Discretion of Lenders as to Manner of Funding.

          Notwithstanding any provision of this Agreement to the contrary, each Lender shall be entitled
to fund and maintain its funding of all or any part of its Loans in any manner it sees fit, it
being understood, however, that for the purposes of this Agreement all determinations hereunder
shall be made as if such Lender had actually funded and maintained each LIBOR Loan during each
Interest Period for such Loan through the purchase of deposits having a maturity corresponding to
such Interest Period and bearing an interest rate equal to the LIBOR Rate for such Interest Period.

          8.7. Mitigation of Circumstances; Replacement of Lenders.

          (a) Each Lender shall promptly notify Borrower Representative and the Administrative Agent of
any event of which it has knowledge which will result in, and will use reasonable commercial
efforts available to it (and not, in such Lender’s sole judgment, otherwise disadvantageous to such
Lender) to mitigate or avoid, (i) any obligation by Borrowers to pay any amount pursuant to
Sections 7.6 or 8.1 or (ii) the occurrence of any circumstances described in
Sections 8.2 or 8.3 (and, if any Lender has given notice of any such event
described in clause (i) or (ii) above and thereafter such event ceases to exist, such Lender shall
promptly so notify Borrower Representative and the Administrative Agent). Without limiting the
foregoing, each Lender will, to the extent practicable, designate a different funding office if
such designation will avoid (or reduce the cost to Borrowers of) any event described in clause (i)
or (ii) above and such designation will not, in such Lender’s sole judgment, be otherwise
disadvantageous to such Lender.

          (b) If Borrowers become obligated to pay additional amounts to any Lender pursuant to
Sections 7.6 or 8.1, or any Lender gives notice of the occurrence of any
circumstances described in Sections 8.2 or 8.3, Borrower Representative may
designate another bank which is acceptable to the Administrative Agent and the Issuing Lender in
their reasonable discretion (such other bank being called a “Replacement Lender”) to purchase the
Loans of such Lender and such Lender’s rights hereunder, without recourse to or warranty by, or
expense to, such Lender, for a purchase price equal to the outstanding principal amount of the
Loans payable to such Lender plus any accrued but unpaid interest on such Loans and all accrued but
unpaid fees owed to such Lender and any other amounts payable to such Lender under this Agreement,
and to assume all the obligations of such Lender hereunder, and, upon such purchase and assumption
(pursuant to an Assignment Agreement), such Lender shall no longer be a party hereto or have any
rights hereunder (other than rights with respect to indemnities and similar rights applicable to
such Lender prior to the date of such purchase and assumption) and shall be relieved from all
obligations to Borrowers hereunder, and the Replacement Lender shall succeed to the rights and
obligations of such Lender hereunder.

          8.8. Conclusiveness of Statements; Survival of Provisions.

          Determinations and statements of any Lender pursuant to Sections 8.1, 8.2,
8.3 or 8.4 shall be conclusive absent demonstrable error. Lenders may use
reasonable averaging

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and attribution methods in determining compensation under Sections 8.1
and 8.4, and the provisions of such Sections shall survive repayment of the Obligations,
cancellation of any Notes, expiration or termination of the Letters of Credit and termination of
this Agreement.

     SECTION 9. REPRESENTATIONS AND WARRANTIES.

          To induce the Administrative Agent and the Lenders to enter into this Agreement and to induce
the Lenders to make Loans and issue and participate in Letters of Credit hereunder, Borrowers,
jointly and severally, represent and warrant to the Administrative Agent and the Lenders that:

          9.1. Organization.

          Each Loan Party is validly existing and in good standing under the laws of its jurisdiction of
organization; and each Loan Party is duly qualified to do business in each jurisdiction where,
because of the nature of its activities or properties, such qualification is required, except for
such jurisdictions where the failure to so qualify would not have a Material Adverse Effect.

          9.2. Authorization; No Conflict.

          Each Loan Party has the corporate power and corporate authority to execute and deliver each
Loan Document to which it is a party, Borrowers have the corporate power and corporate authority to
borrow monies hereunder and each Loan Party is duly authorized to perform its Obligations under
each Loan Document to which it is a party. The execution, delivery and performance by each Loan
Party of each Loan Document to which it is a party, and the borrowings by Borrowers hereunder, have
been duly authorized by all requisite corporate action and do not and will not (a) require any
consent or approval of any governmental agency or authority (other than any consent or approval
which has been
obtained and is in full force and effect), (b) conflict with (i) any provision of law, (ii)
the charter, by-laws or other organizational documents of any Loan Party or (iii) any agreement,
indenture, instrument or other document, or any judgment, order or decree, which is binding upon
any Loan Party or any of their respective properties, except with respect to this clause (iii),
where such conflict could not reasonably be expected to have a Material Adverse Effect or (c)
require, or result in, the creation or imposition of any Lien on any asset of any Loan Party (other
than Liens in favor of the Administrative Agent created pursuant to the Collateral Documents).

          9.3. Validity and Binding Nature.

          Each of this Agreement and each other Loan Document to which any Loan Party is a party is the
legal, valid and binding obligation of such Person, enforceable against such Person in accordance
with its terms, subject to bankruptcy, insolvency and similar laws affecting the enforceability of
creditors’ rights generally and to general principles of equity.

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          9.4. Financial Condition.

          The (i) audited consolidated financial statements of Holdings and its Subsidiaries as at
December 31, 2005, (ii) audited combined financial statements of Sargent and its Affiliates as at
December 31, 2005, (iii) unaudited consolidated financial statements of Holdings and its
Subsidiaries as at December 31, 2006 and (iv) unaudited consolidated financial statements of
Sargent Holdings Corp. and its Subsidiaries as at December 31, 2006, copies of each of which have
been delivered to Administrative Agent, were prepared in accordance with GAAP (subject, in the case
of such unaudited statements, to the absence of footnotes and to normal year-end adjustments) and
present fairly, in all material respect, the financial condition of each Loan Party as at such
dates and the results of its operations for the periods then ended. The financial projections for
Holdings and its Subsidiaries for the Fiscal Years ended December 31, 2007 through December 31,
2011 which were previously delivered to the Administrative Agent were prepared in good faith and
are based on reasonable assumptions as to the future performance of Holdings and its Subsidiaries,
it being recognized by the Administrative Agent, however, that projections as to future results are
not to be viewed as facts and that the actual results during the periods which are the subject of
such projections may differ from the projected results, and that the differences may be material.
The pro forma consolidated balance sheet for Holdings and its Subsidiaries as at December 31, 2006,
copies of which have been delivered to the Administrative Agent, present fairly, in all material
respects, the financial condition of Holdings and its Subsidiaries as at such date.

          9.5. No Material Adverse Change.

          Since December 31, 2005, there has been no material adverse change in the financial condition,
operations, assets, business, properties or prospects of the Loan Parties taken as a whole.

          9.6. Litigation and Contingent Liabilities.

          No litigation (including derivative actions), arbitration proceeding or governmental
investigation or proceeding is pending or, to any Borrower’s knowledge, threatened against any Loan
Party which might reasonably be expected to have a Material Adverse Effect, except as set forth in
Schedule 9.6. Other than any liability incident to such litigation or proceedings, no Loan
Party has any material Contingent Liabilities not listed on Schedule 9.6 or permitted by
Section 11.1.

          9.7. Ownership of Properties; Liens.

          Each Loan Party owns good and, in the case of real property, marketable title to all of its
properties and assets, real and personal, tangible and intangible, of any nature whatsoever
(including patents, trademarks, trade names, service marks and copyrights), free and clear of all
Liens, charges and claims (including infringement claims with respect to patents, trademarks,
service marks, copyrights and the like) except as permitted by Section 11.2.

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          9.8. Equity Ownership; Subsidiaries.

          All issued and outstanding Capital Securities of each Loan Party are duly authorized and
validly issued, fully paid, non-assessable, and free and clear of all Liens other than those in
favor of the Administrative Agent (with respect to the Capital Securities of Sargent Holdings and
each Borrower), and such securities were issued in compliance with all applicable state and federal
laws concerning the issuance of securities. Schedule 9.8 sets forth the authorized Capital
Securities of each Loan Party as of the Closing Date. All of the issued and outstanding Capital
Securities of Holdings are owned as set forth on Schedule 9.8 as of the Closing Date. All
of the issued and outstanding Capital Securities of Roadrunner and Sargent Holdings are directly
owned by Holdings. All of the issued and outstanding Capital Securities of each Sargent Company
are directly owned by Sargent Holdings. As of the Closing Date, except as set forth on
Schedule 9.8, there are no pre-emptive or other outstanding rights, options, warrants,
conversion rights or other similar agreements or understandings for the purchase or acquisition of
any Capital Securities of any Loan Party.

          9.9. Pension Plans.

          (a) The Unfunded Liability of all Pension Plans does not in the aggregate exceed twenty
percent of the Total Plan Liability for all such Pension Plans. Each Pension Plan complies in all
material respects with all applicable requirements of law and regulations. No contribution failure
under Section 412 of the Code, Section 302 of ERISA or the terms of any Pension Plan has occurred
with respect to any Pension Plan, sufficient to give rise to a Lien under Section 302(f) of ERISA,
or otherwise to have a Material Adverse Effect. There are no pending or, to the knowledge of each
Borrower, threatened, claims, actions, investigations or lawsuits against any Pension Plan, any
fiduciary of any Pension Plan, or any Loan Party or other any member of the Controlled Group with
respect to a Pension Plan or a Multiemployer Pension Plan which could reasonably be expected to
have a Material Adverse Effect. No Borrower nor any other member of the Controlled Group has
engaged in any prohibited transaction (as defined in Section 4975 of the Code or Section 406 of
ERISA) in
connection with any Pension Plan or Multiemployer Pension Plan which would subject that Person
to any material liability. Within the past five years, no Borrower nor any other member of the
Controlled Group has engaged in a transaction which resulted in a Pension Plan with an Unfunded
Liability being transferred out of the Controlled Group, which could reasonably be expected to have
a Material Adverse Effect. No Termination Event has occurred or is reasonably expected to occur
with respect to any Pension Plan, which could reasonably be expected to have a Material Adverse
Effect.

          (b) All contributions (if any) have been made to any Multiemployer Pension Plan that are
required to be made by any Loan Party or any other member of the Controlled Group under the terms
of the plan or of any collective bargaining agreement or by applicable law; no Loan Party nor any
other member of the Controlled Group has withdrawn or partially withdrawn from any Multiemployer
Pension Plan, incurred any withdrawal liability with respect to any such plan or received notice of
any claim or demand for withdrawal liability or partial withdrawal liability from any such plan,
and no condition has occurred which, if continued, could result in a withdrawal or partial
withdrawal from any

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such plan; and neither any Loan Party nor any other member of the Controlled
Group has received any notice that any Multiemployer Pension Plan is in reorganization, that
increased contributions may be required to avoid a reduction in plan benefits or the imposition of
any excise tax, that any such plan is or has been funded at a rate less than that required under
Section 412 of the Code, that any such plan is or may be terminated, or that any such plan is or
may become insolvent.

          9.10. Investment Company Act.

          No Loan Party is an “investment company” or a company “controlled” by an “investment company”
or a “subsidiary” of an “investment company,” within the meaning of the Investment Company Act of
1940.

          9.11. [Intentionally Omitted]

          9.12. Regulation U. 

          No Borrower is engaged principally, or as one of its important activities, in the business of
extending credit for the purpose of purchasing or carrying Margin Stock.

          9.13. Taxes.

          Each Loan Party has timely filed all federal and other material tax returns and reports
required by law to have been filed by it and has paid all taxes and governmental charges due and
payable with respect to such return, except any such taxes or charges which are being diligently
contested in good faith by appropriate proceedings and for which adequate reserves in accordance
with GAAP shall have been set aside on its books. The Loan Parties have made adequate reserves on
their books and records in accordance with GAAP for all taxes that have accrued but which are not
yet due and payable. No Loan Party has participated in any transaction that relates to a year of
the taxpayer (which is still open under the applicable statute of limitations) which is a
“reportable transaction” within the
meaning of Treasury Regulation Section 1.6011-4(b)(2) (irrespective of the date when the
transaction was entered into).

          9.14. Solvency.

          On the Closing Date, and after giving effect to the issuance of each Letter of Credit and each
borrowing hereunder and the use of the proceeds thereof, with respect to the Loan Parties,
collectively, (a) the fair value of their assets is greater than the amount of their liabilities
(including disputed, contingent and unliquidated liabilities), (b) the present fair saleable value
of their assets is not less than the amount that will be required to pay the probable liability on
their debts as they become absolute and matured, (c) they are able to realize upon their assets
and pay their debts and other liabilities (including disputed, contingent and unliquidated
liabilities) as they mature in the normal course of business, (d) they do not intend to, and do not
believe that they will, incur debts or liabilities beyond their ability to pay as such debts and
liabilities mature and (e) they are not engaged in business or

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a transaction, and are not about to
engage in business or a transaction, for which their property would constitute unreasonably small
capital.

          9.15. Environmental Matters.

          The on-going operations of each Loan Party comply in all respects with all Environmental Laws,
except such non-compliance which could not (if enforced in accordance with applicable law)
reasonably be expected to result, either individually or in the aggregate, in a Material Adverse
Effect. Each Loan Party has obtained, and maintained in good standing, all licenses, permits,
authorizations, registrations and other approvals required under any Environmental Law and required
for their respective ordinary course operations, and for their reasonably anticipated future
operations, and each Loan Party is in compliance with all terms and conditions thereof, except
where the failure to do so could not reasonably be expected to result in material liability to any
Loan Party and could not reasonably be expected to result, either individually or in the aggregate,
in a Material Adverse Effect. Except as set forth on Schedule 9.15, no Loan Party or any
of its properties or operations is subject to, or reasonably anticipates the issuance of, any
written order from or agreement with any Federal, state or local governmental authority, nor
subject to any judicial or docketed administrative or other proceeding, respecting any
Environmental Law, Environmental Claim or Hazardous Substance. There are no Hazardous Substances
or other conditions or circumstances existing with respect to any property, arising from operations
prior to the Closing Date, or relating to any waste disposal, of any Loan Party that would
reasonably be expected to result, either individually or in the aggregate, in a Material Adverse
Effect. Except as set forth on Schedule 9.15, no Loan Party has any underground storage
tanks that are not properly registered or permitted under applicable Environmental Laws or that at
any time have released, leaked, disposed of or otherwise discharged Hazardous Substances.

          9.16. Insurance.

          Set forth on Schedule 9.16 is a complete and accurate summary of the property and
casualty insurance program of the Loan Parties as of the Closing Date (including the names of all
insurers, policy numbers, expiration dates, amounts and types of coverage,
annual premiums, exclusions, deductibles, self-insured retention, and a description in
reasonable detail of any self-insurance program, retrospective rating plan, fronting arrangement or
other risk assumption arrangement involving any Loan Party). Each Loan Party and its properties
are insured with financially sound and reputable insurance companies which are not Affiliates of
the Loan Parties, in such amounts, with such deductibles and covering such risks as are customarily
carried by companies engaged in similar businesses and owning similar properties in localities
where such Loan Parties operate.

          9.17. Real Property.

          Set forth on Schedule 9.17 is a complete and accurate list, as of the Closing Date, of
(i) the address of all real property leased by any Loan Party, and (ii) the address and a legal
description of all real property owned by any Loan Party.

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          9.18. Information.

          The information heretofore or contemporaneously herewith furnished in writing by any Loan
Party to the Administrative Agent or any Lender for purposes of or in connection with this
Agreement and the transactions contemplated hereby is, and the written information hereafter
furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender pursuant
hereto or in connection herewith will be, true and accurate in all material respects on the date as
of which such information is dated or certified, and such information is not and will not be
incomplete by omitting to state any material fact necessary to make such information not misleading
in light of the circumstances under which made (it being recognized by the Administrative Agent and
the Lenders that any projections and forecasts provided by Borrowers are based on good faith
estimates and assumptions believed by Borrowers to be reasonable as of the date of the applicable
projections or assumptions and that actual results during the period or periods covered by any such
projections and forecasts may differ from projected or forecasted results).

          9.19. Intellectual Property.

          Each Loan Party owns and possesses or has a license or other right to use all patents, patent
rights, trademarks, trademark rights, trade names, trade name rights, service marks, service mark
rights and copyrights as are necessary for the conduct of the businesses of the Loan Parties,
without any infringement upon rights of others which could reasonably be expected to have a
Material Adverse Effect.

          9.20. Burdensome Obligations.

          No Loan Party is a party to any agreement or contract or subject to any restriction contained
in its organizational documents which could reasonably be expected to have a Material Adverse
Effect.

          9.21. Labor Matters.

          Except as set forth on Schedule 9.21, no Loan Party is subject to any labor or
collective bargaining agreement. There are no existing or threatened strikes, lockouts or other
labor disputes involving any Loan Party that singly or in the aggregate could
reasonably be expected to have a Material Adverse Effect. Hours worked by and payment made to
employees of the Loan Parties are in material compliance with the Fair Labor Standards Act and any
other applicable laws, rules or regulations dealing with such matters.

          9.22. No Default.

          No Event of Default exists or would result from the incurrence by any Loan Party of any Debt
hereunder or under any other Loan Document.

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          9.23. Related Agreements.

          (a) Borrowers have heretofore furnished the Administrative Agent a true and correct copy of
the Related Agreements. The material transactions contemplated by the Related Agreements were
consummated prior to the execution and delivery of this Agreement, in accordance in all material
respects with the terms of the Related Agreements.

          (b) Each Loan Party and, to each Borrower’s knowledge, each other party to the Related
Agreements, has duly taken all necessary corporate, partnership or other organizational action to
authorize the execution, delivery and performance of the Related Agreements and the consummation of
transactions contemplated thereby.

          (c) The Related Transactions comply in all material respects with all applicable legal
requirements, and all necessary governmental, regulatory, creditor, shareholder, partner and other
material consents, approvals and exemptions required to be obtained by the Loan Parties and, to
each Borrower’s knowledge, each other party to the Related Agreements in connection with the
Related Transactions have been duly obtained and are in full force and effect. As of the date of
the Related Agreements, all applicable waiting periods with respect to the Related Transactions
will have expired without any action being taken by any competent governmental authority which
restrains, prevents or imposes material adverse conditions upon the consummation of the Related
Transactions.

          (d) Neither the execution and delivery of the Related Agreements, nor the consummation of the
Related Transactions, has violated any material statute or regulation of the United States
(including any securities law) or of any state or other applicable jurisdiction, or any order,
judgment or decree of any court or governmental body binding on any Loan Party or, to each
Borrower’s knowledge, any other party to the Related Agreements, or resulted in a breach of, or
constituted a default under, any material agreement, indenture, instrument or other document, or
any judgment, order or decree, to which any Loan Party is a party or by which any Loan Party is
bound or, to each Borrower’s knowledge, to which any other party to the Related Agreements is a
party or by which any such party is bound.

          (e) No statement or representation made in the Related Agreements by any Loan Party or, to
each Borrower’s knowledge, any other Person, contains any untrue statement of a material fact or
omits to state any material fact required to be stated therein or necessary in order to make the
statements made therein, in light of the circumstances under which they are made, not misleading.

     SECTION 10. AFFIRMATIVE COVENANTS.

          Until the expiration or termination of the Commitments and thereafter until all Obligations
hereunder and under the other Loan Documents are paid in full and all Letters of Credit have been
terminated, Borrowers, jointly and severally, agree that, unless at any time the Required Lenders
shall otherwise expressly consent in writing, Borrowers will (or will cause Borrower Representative
to):

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          10.1. Reports, Certificates and Other Information.

          Furnish (or cause Holdings to furnish) to the Administrative Agent:

          10.1.1. Annual Report.

          Promptly when available and in any event within 105 days after the close of each Fiscal Year,
a copy of the annual audit report of Holdings and its Subsidiaries for such Fiscal Year, including
therein consolidated balance sheets and statements of earnings and cash flows of Holdings and its
Subsidiaries as at the end of such Fiscal Year, certified without adverse reference to going
concern value and without qualification by independent auditors of recognized standing selected by
Borrowers and reasonably acceptable to the Administrative Agent, together with (i) a written
statement from such accountants to the effect that in making the examination necessary for the
signing of such annual audit report by such accountants, nothing came to their attention that
caused them to believe that the Borrowers, taken as a whole, were not in compliance with any
provision of Sections 11.1, 11.3, or 11.13 of this Agreement insofar as
such provision relates to accounting matters or, if something has come to their attention that
caused them to believe that the Borrowers, taken as a whole, were not in compliance with any such
provision, describing such non-compliance in reasonable detail and (ii) a comparison with the
budget for such Fiscal Year and a comparison with the previous Fiscal Year.

          10.1.2. Interim Reports.

          (a) Promptly when available and in any event within 45 days after the end of each Fiscal
Quarter (except the last Fiscal Quarter of each Fiscal Year), a consolidated balance sheet of
Holdings and its Subsidiaries as of the end of such Fiscal Quarter, together with consolidated
statements of earnings and cash flows for such Fiscal Quarter and for the period beginning with the
first day of such Fiscal Year and ending on the last day of such Fiscal Quarter, together with (i)
a comparison with the corresponding period of the previous Fiscal Year and a comparison with the
budget for such period of the current Fiscal Year, certified by a Senior Officer of Holdings or of
Borrower Representative and (ii) a capitalization table for Holdings as of the end of such Fiscal
Quarter identifying each shareholder of Holdings and the percentage of Capital Securities of
Holdings held by each such shareholder; and

          (b) promptly when available and in any event within 30 days after the end of each month
(extended to 45 days, solely with respect to the month of December), a consolidated balance sheet
of Holdings and its Subsidiaries as of the end of such month, together with consolidated statements
of earnings and cash flows for such month and for the
period beginning with the first day of such Fiscal Year and ending on the last day of such
month, together with a comparison with the corresponding period of the previous Fiscal Year and a
comparison with the budget for such period of the current Fiscal Year, certified by a Senior
Officer of Holdings or of Borrower Representative; provided, that for all such financial
statements covering any period of time prior to December 31, 2007, such statements shall consist of
(i) the materials described in this clause (b), but solely for

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Roadrunner and its Subsidiaries on a
consolidated basis and (ii) “flash reports” for the Sargent Companies on a consolidated basis,
including revenue and EBITDA computations.

          10.1.3. Compliance Certificates.

          Contemporaneously with the furnishing of a copy of each annual audit report pursuant to
Section 10.1.1 and each set of quarterly statements pursuant to Section 10.1.2, a
duly completed compliance certificate in the form of Exhibit B, with appropriate
insertions, dated the date of such annual report or such quarterly statements and signed by a
Senior Officer of Holdings or of Borrower Representative, containing (i) a computation of each of
the financial ratios and restrictions set forth in Section 11.13 and to the effect that
such officer has not become aware of any Event of Default or Unmatured Event of Default that has
occurred and is continuing or, if there is any such event, describing it and the steps, if any,
being taken to cure it and (ii) a written statement of Holdings’ or of each Borrower’s management
setting forth a discussion of Holdings’ and its Subsidiaries’ financial condition, changes in
financial condition and results of operations.

          10.1.4. Excess Cash Flow Certificates.

          Contemporaneously with the furnishing of a copy of each annual audit report pursuant to
Section 10.1.1, commencing with Fiscal Year 2007, a duly completed excess cash flow
certificate in the form of Exhibit G, with appropriate insertions, dated the date of such
annual report and signed by a Senior Officer of Holdings or of Borrower Representative, containing
a computation of Excess Cash Flow for such Fiscal Year and the amount of any required prepayment
pursuant to Section 6.2.2(iv) for such Fiscal Year.

          10.1.5. Reports to the SEC and to Shareholders.

          Promptly upon the filing or sending thereof, copies of all regular, periodic or special
reports of any Loan Party filed with the SEC; copies of all registration statements of any Loan
Party filed with the SEC (other than on Form S-8); and copies of all proxy statements or other
communications made to security holders generally.

          10.1.6. Notice of Default, Litigation and ERISA Matters.

          Promptly upon becoming aware of any of the following, written notice describing the same and
the steps being taken by the Loan Parties affected thereby with respect thereto:

          (a) the occurrence of an Event of Default or an Unmatured Event of Default;

          (b) any litigation, arbitration or governmental investigation or proceeding not previously
disclosed by Borrowers to the Lenders which has been instituted or, to the knowledge of each
Borrower, is threatened against any Loan Party or to which any of the properties of any thereof is
subject which might reasonably be expected to have a Material Adverse Effect;

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          (c) the institution of any steps by any member of the Controlled Group or any other Person to
terminate any Pension Plan, or the failure of any member of the Controlled Group to make a required
contribution to any Pension Plan (if such failure is sufficient to give rise to a Lien under
Section 302(f) of ERISA) or to any Multiemployer Pension Plan, or the taking of any action with
respect to a Pension Plan which could result in the requirement that any Loan Party furnish a bond
or other security to the PBGC or such Pension Plan, or the occurrence of any event with respect to
any Pension Plan or Multiemployer Pension Plan which could result in the incurrence by any member
of the Controlled Group of any material liability, fine or penalty (including any claim or demand
for withdrawal liability or partial withdrawal from any Multiemployer Pension Plan), or any
material increase in the contingent liability of any Loan Party with respect to any post-retirement
welfare benefit plan or other employee benefit plan of any Loan Party or another member of the
Controlled Group, or any notice that any Multiemployer Pension Plan is in reorganization, that
increased contributions may be required to avoid a reduction in plan benefits or the imposition of
an excise tax, that any such plan is or has been funded at a rate less than that required under
Section 412 of the Code, that any such plan is or may be terminated, or that any such plan is or
may become insolvent;

          (d) any cancellation or material change in any insurance maintained by any Loan Party; or

          (e) any other event (including (i) any violation of any Environmental Law or the assertion of
any Environmental Claim or (ii) the enactment or effectiveness of any law, rule or regulation)
which might reasonably be expected to have a Material Adverse Effect.

          10.1.7. Borrowing Base Certificates.

          Within 20 days of the end of each month (increased to 30 days for each of the six consecutive
months commencing with the first month following the Closing Date), a Borrowing Base Certificate
dated as of the end of such month and executed by a Senior Officer of Holdings or of Borrower
Representative (provided that (a) Holdings or Borrower Representative may deliver a
Borrowing Base Certificate more frequently if they choose and (b) at any time an Event of Default
exists, the Administrative Agent may require Holdings or Borrower Representative to deliver
Borrowing Base Certificates more frequently).

          10.1.8. Management Reports.

          Promptly upon receipt thereof, copies of all detailed financial and management reports
submitted to any Loan Party by independent auditors in connection with each annual or interim audit
made by such auditors of the books of Holdings and its Subsidiaries.

          10.1.9. Projections.

          As soon as practicable, and in any event not later than 30 days after the commencement of each
Fiscal Year, financial projections for Holdings and its Subsidiaries for such Fiscal Year
(including monthly operating and cash flow budgets), prepared in a

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manner consistent with the
projections delivered by Borrowers to the Lenders prior to the Closing Date or otherwise in a
manner reasonably satisfactory to the Administrative Agent, accompanied by a certificate of a
Senior Officer of Holdings or Borrower Representative to the effect that (a) such projections were
prepared by Holdings or, as applicable, Borrowers in good faith, (b) Holdings or, as applicable,
Borrower Representative has a reasonable basis for the assumptions contained in such projections
and (c) such projections have been prepared in accordance with such assumptions.

          10.1.10. Subordinated Debt Notices.

          Promptly following receipt, copies of any notices (including notices of default or
acceleration) received from any holder or trustee of, under or with respect to any Subordinated
Debt.

          10.1.11. Appraisal Reports.

          Promptly following receipt, copies of any appraisal reports commissioned by any Loan Party or
any shareholder thereof with respect to all or any portion of the assets of any Loan Party.

          10.1.12. Other Information.

          Promptly from time to time, such other information concerning the Loan Parties as any Lender
or the Administrative Agent may reasonably request.

          10.2. Books, Records and Inspections.

          Keep, and cause each other Loan Party to keep, its books and records in accordance with sound
business practices sufficient to allow the preparation of financial statements in accordance with
GAAP; permit, and cause each other Loan Party to permit, any Lender or the Administrative Agent or
any representative thereof to inspect the properties and operations of the Loan Parties (after
reasonable notice and at reasonable times, so long as no Event of Default is then in existence);
and permit, and cause each other Loan Party to permit, at any reasonable time and with reasonable
notice (or at any time without notice if an Event of Default exists), any Lender or the
Administrative Agent or any representative thereof to visit any or all of its offices, to discuss
its financial matters with its officers and its independent auditors (and Borrowers hereby
authorize such independent auditors to discuss such financial matters with any Lender or the
Administrative Agent or any representative thereof), and to examine (and, at the reasonable expense
of the Loan Parties, upon reasonable request, (so long as no Event of Default is then in existence)
photocopy extracts from) any of its books or other records; and permit, and cause each other Loan
Party to permit, the Administrative Agent and its representatives to inspect the tangible assets of
the Loan Parties, to perform, at any time during the continuance of an Event of Default, appraisals
of the equipment of the Loan Parties, and, upon reasonable request (so long as no Event of
Default is then in existence), to inspect, audit, check and make copies of and extracts from
the books, records, computer data, computer programs, journals, orders, receipts,

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correspondence and other data relating to Accounts and any other Collateral. All such inspections or audits by
the Administrative Agent shall be at Borrowers’ expense, provided that so long as no Event
of Default exists, the Borrowers shall not be required to reimburse the Administrative Agent for
inspections or audits more frequently than once each Fiscal Year for Roadrunner, and once each
Fiscal Year for the Sargent Companies. Borrowers hereby acknowledge that the Administrative Agent
intends to conduct its initial field examination of the Borrowers’ operations within ninety (90)
days of the Closing Date (but has no obligation to do so).

          10.3. Maintenance of Property; Insurance.

          (a) Keep, and cause each other Loan Party to keep, all property useful and necessary in the
business of the Loan Parties in good working order and condition, ordinary wear and tear excepted.

          (b) Maintain, and cause each other Loan Party to maintain, with reputable insurance companies,
such insurance coverage as may be required by any law or governmental regulation or court decree or
order applicable to it and such other insurance, to such extent and against such hazards and
liabilities, as is customarily maintained by companies similarly situated, and, upon request of the
Administrative Agent or any Lender, furnish to the Administrative Agent or such Lender a
certificate setting forth in reasonable detail the nature and extent of all insurance maintained by
the Loan Parties. The Borrowers shall cause each issuer of an insurance policy to provide the
Administrative Agent with an endorsement (i) showing the Administrative Agent as lender’s loss
payee with respect to each policy of property or casualty insurance and naming the Administrative
Agent as an additional insured with respect to each policy of liability insurance, (ii) providing
that 30 days’ notice will be given to the Administrative Agent prior to any cancellation of,
material reduction or change in coverage provided by or other material modification to such policy
and (iii) reasonably acceptable in all other respects to the Administrative Agent. The Borrowers
shall execute and deliver to the Administrative Agent a collateral assignment, in form and
substance satisfactory to the Administrative Agent, of each business interruption insurance policy
maintained by the Borrowers; provided, that Administrative Agent shall have no right to
retain any proceeds of any such business interruption insurance policies unless an Event of Default
has occurred and is continuing.

          (c) UNLESS THE BORROWERS PROVIDE THE ADMINISTRATIVE AGENT WITH EVIDENCE OF THE INSURANCE
COVERAGE REQUIRED BY THIS AGREEMENT, THE ADMINISTRATIVE AGENT MAY PURCHASE INSURANCE AT THE
BORROWERS’ EXPENSE TO PROTECT THE ADMINISTRATIVE AGENT’S AND THE LENDERS’ INTERESTS IN THE
COLLATERAL. THIS INSURANCE MAY, BUT NEED NOT, PROTECT ANY LOAN PARTY’S INTERESTS. THE COVERAGE
THAT THE ADMINISTRATIVE AGENT PURCHASES MAY NOT PAY ANY CLAIM THAT IS MADE AGAINST ANY LOAN PARTY
IN CONNECTION WITH THE COLLATERAL. THE BORROWERS MAY LATER CANCEL ANY INSURANCE PURCHASED BY THE
ADMINISTRATIVE AGENT, BUT ONLY AFTER

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PROVIDING THE ADMINISTRATIVE AGENT WITH EVIDENCE THAT THE BORROWERS HAVE OBTAINED INSURANCE AS
REQUIRED BY THIS AGREEMENT. IF THE ADMINISTRATIVE AGENT PURCHASES INSURANCE FOR THE COLLATERAL,
THE BORROWERS WILL, JOINTLY AND SEVERALLY, BE RESPONSIBLE FOR THE COSTS OF THAT INSURANCE,
INCLUDING INTEREST AND ANY OTHER CHARGES THAT MAY BE IMPOSED WITH THE PLACEMENT OF THE INSURANCE,
UNTIL THE EFFECTIVE DATE OF THE CANCELLATION OR EXPIRATION OF THE INSURANCE. THE COSTS OF THE
INSURANCE MAY BE ADDED TO THE PRINCIPAL AMOUNT OF THE LOANS OR OTHER OBLIGATIONS OWING HEREUNDER.
THE COSTS OF THE INSURANCE MAY BE MORE THAN THE COST OF THE INSURANCE THE LOAN PARTIES MAY BE ABLE
TO OBTAIN ON THEIR OWN.

          10.4. Compliance with Laws; Payment of Taxes and Liabilities.

          (a) Comply, and cause each other Loan Party to comply, in all material respects with all
applicable laws, rules, regulations, decrees, orders, judgments, licenses and permits, except where
failure to comply could not reasonably be expected to have a Material Adverse Effect; (b) without
limiting clause (a) above, ensure, and cause each other Loan Party to ensure, that no
person who owns a controlling interest in or otherwise controls a Loan Party is or shall be (i)
listed on the Specially Designated Nationals and Blocked Person List maintained by the Office of
Foreign Assets Control (“OFAC”), Department of the Treasury, and/or any other similar lists
maintained by OFAC pursuant to any authorizing statute, Executive Order or regulation or (ii) a
person designated under Section 1(b), (c) or (d) of Executive Order No. 13224 (September 23, 2001),
any related enabling legislation or any other similar Executive Orders, (c) without limiting
clause (a) above, comply, and cause each other Loan Party to comply, with all applicable
Bank Secrecy Act (“BSA”) and anti-money laundering laws and regulations and (d) pay, and cause each
other Loan Party to pay, prior to delinquency, all taxes and other governmental charges against it
or any Collateral, as well as claims of any kind which, if unpaid, could reasonably be expected to
become a Lien on any of its property; provided that the foregoing shall not require any
Loan Party to pay any such tax or charge so long as it shall contest the validity thereof in good
faith by appropriate proceedings and shall set aside on its books adequate reserves with respect
thereto in accordance with GAAP and, in the case of a claim which could become a Lien on any
collateral, such contest proceedings shall stay the foreclosure of such Lien or the sale of any
portion of the collateral to satisfy such claim.

          10.5. Maintenance of Existence, etc.

          Maintain and preserve, and (subject to Section 11.4) cause each other Loan Party to
maintain and preserve, (a) its existence and good standing in the jurisdiction of its organization
and (b) its qualification to do business and good standing in each jurisdiction where the nature of
its business makes such qualification necessary (other than such jurisdictions in which the failure
to be qualified or in good standing could not reasonably be expected to have a Material Adverse
Effect).

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          10.6. Use of Proceeds.

          Use the proceeds of the Loans, and the Letters of Credit, solely to finance expenses related
to the Related Transactions, to refinance existing Debt of the Sargent Companies, for working
capital purposes, for Capital Expenditures and for other general business purposes, in each case in
a manner not inconsistent with the terms of this Agreement; and not use or permit any proceeds of
any Loan to be used, either directly or indirectly, for the purpose, whether immediate, incidental
or ultimate, of “purchasing or carrying” any Margin Stock.

          10.7. Employee Benefit Plans.

          (a) Maintain, and cause each other member of the Controlled Group to maintain, each Pension
Plan in substantial compliance with all applicable requirements of law and regulations.

          (b) Make, and cause each other member of the Controlled Group to make, on a timely basis, all
required contributions to any Multiemployer Pension Plan.

          (c) Not, and not permit any other member of the Controlled Group to (i) seek a waiver of the
minimum funding standards of ERISA, (ii) terminate or withdraw from any Pension Plan or
Multiemployer Pension Plan or (iii) take any other action with respect to any Pension Plan that
would reasonably be expected to entitle the PBGC to terminate, impose liability in respect of, or
cause a trustee to be appointed to administer, any Pension Plan, unless the actions or events
described in clauses (i), (ii) and (iii) individually or in the aggregate would not
have a Material Adverse Effect.

          10.8. Environmental Matters.

          If any release or threatened release or other disposal of Hazardous Substances shall occur or
shall have occurred on any real property or any other assets of any Loan Party, Borrowers shall, or
shall cause the applicable Loan Party to, cause the prompt containment and removal of such
Hazardous Substances and the remediation of such real property or other assets as necessary to
comply in all material respects with all Environmental Laws and to preserve the value of such real
property or other assets. Without limiting the generality of the foregoing, Borrowers shall, and
shall cause each other Loan Party to, comply in all material respects with any Federal or state
judicial or administrative order requiring the performance at any real property of any Loan Party
of activities in response to the release or threatened release of a Hazardous Substance. To the
extent that the transportation of Hazardous Substances is permitted by this Agreement, the
Borrowers shall, and shall cause their Subsidiaries to, dispose of such Hazardous Substances, or of
any other wastes, only at licensed disposal facilities operating in all material respects in
compliance with Environmental Laws.

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          10.9. Further Assurances.

          Take, and cause each other Loan Party to take, such actions as are necessary or as the
Administrative Agent or the Required Lenders may reasonably request from time to time to ensure
that the Obligations of each Loan Party under the Loan Documents are
secured by substantially all of the assets of the Borrowers and each domestic Subsidiary (as
well as all Capital Securities of each domestic Subsidiary and 65% of all Capital Securities of
each direct foreign Subsidiary) and guaranteed by each domestic Subsidiary (including, upon the
acquisition or creation thereof, any Subsidiary acquired or created after the Closing Date with the
consent of Required Lenders), in each case as the Administrative Agent may determine, including (a)
the execution and delivery of guaranties, security agreements, pledge agreements, mortgages, deeds
of trust, financing statements and other documents, and the filing or recording of any of the
foregoing and (b) the delivery of certificated securities and other Collateral with respect to
which perfection is obtained by possession.

          10.10. Deposit Accounts. 

          Unless the Administrative Agent otherwise consents in writing, in order to facilitate the
Administrative Agent’s and the Lenders’ maintenance and monitoring of their security interests in
the collateral, maintain Borrowers’ concentration account, primary disbursement account and lockbox
with Administrative Agent; provided, that (i) solely with respect to the Sargent Companies,
the provisions of this Section 10.10 shall be effective commencing six (6) months following
the date hereof and (ii) it being understood and acknowledged that certain Account Debtors may not
comply with instructions issued by the Sargent Companies to remit funds to lockboxes maintained
with Administrative Agent following the toll of such six (6) month period. Until such time that
Borrowers have established their principal deposit accounts with the Administrative Agent,
Borrowers shall make no changes in their respective cash management systems as in effect on the
Closing Date, unless the Administrative Agent otherwise consents in writing.

          10.11. Interest Rate Protection.

          Enter into, not later than ninety (90) days after the Closing Date, a Hedging Agreement with a
term of at least three (3) years on an ISDA standard form with one or more Lenders or Affiliates
thereof or with counterparties reasonably acceptable to the Administrative Agent to hedge the
interest rate with respect to not less than $30,000,000 of the outstanding principal amount of the
Term Loan, which agreements shall be in form and substance reasonably satisfactory to the
Administrative Agent.

     SECTION 11. NEGATIVE COVENANTS

          Until the expiration or termination of the Commitments and thereafter until all Obligations
hereunder and under the other Loan Documents are paid in full and all Letters of Credit have been
terminated, the Borrowers, jointly and severally, agree that, unless at any time the Required
Lenders shall otherwise expressly consent in writing, Borrowers will:

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          11.1. Debt.

          Not, and not permit any other Loan Party to, create, incur, assume or suffer to exist any
Debt, except:

          (a) Obligations under this Agreement and the other Loan Documents;

          (b) Debt secured by Liens permitted by Section 11.2(d), and extensions, renewals and
refinancings thereof; provided that the aggregate amount of all such Debt at any time
outstanding shall not exceed $2,000,000;

          (c) Subordinated Debt;

          (d) Hedging Obligations approved by Administrative Agent and incurred in favor of a Lender or
an Affiliate thereof for bona fide hedging purposes and not for speculation;

          (e) Debt described on Schedule 11.1;

          (f) the Debt to be Repaid (so long as such Debt is repaid in full on the Closing Date);

          (g) Contingent Liabilities arising with respect to customary indemnification obligations in
favor of purchasers in connection with dispositions permitted under Section 11.4;

          (h) Debt incurred in respect of netting services and ordinary course of business overdraft
protection in connection with deposit accounts permitted under the Loan Documents;

          (i) Debt incurred in connection with the financing of insurance premiums in the ordinary
course of business;

          (j) endorsements for collection or deposit and standard contractual indemnities entered into
in the ordinary course of business;

          (k) Contingent Liabilities incurred in the ordinary course of business with respect to surety
and appeal bonds, performance bonds and other similar obligations;

          (l) Contingent Liabilities arising under indemnity agreements to title insurers to cause such
title insurers to issue to the Administrative Agent title insurance policies;

          (m) Contingent Liabilities arising with respect to customary indemnification obligations in
favor of sellers in connection with Acquisitions permitted hereunder;

          (n) Debt owing between or among Borrowers;

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          (o) Sponsor Make Whole Subordinated Debt;

          (p) solely for the period commencing on the Closing Date through the date ninety (90) days
following the Closing Date, Debt arising under those four (4) certain letters of credit, numbers
1171, 1183, 1189 and 1190, in the aggregate face amount of $135,000 issued by Katahdin Trust
Company for the account of certain Sargent Companies; provided,
that such letters of credit shall not be renewed, extended or otherwise modified following the
date hereof; and

          (q) other unsecured Debt, in addition to the Debt listed above, in an aggregate outstanding
amount not at any time exceeding $200,000.

          11.2. Liens.

          Not, and not permit any other Loan Party to, create or permit to exist any Lien on any of its
real or personal properties, assets or rights of whatsoever nature (whether now owned or hereafter
acquired), except:

          (a) Liens for taxes or other governmental charges not at the time delinquent or thereafter
payable without penalty or being contested in good faith by appropriate proceedings and, in each
case, for which it maintains adequate reserves;

          (b) Liens arising in the ordinary course of business (such as (i) Liens of carriers,
warehousemen, landlords, mechanics and materialmen and other similar Liens imposed by law and (ii)
Liens in the form of deposits or pledges incurred in connection with worker’s compensation,
unemployment compensation and other types of social security (excluding Liens arising under ERISA)
or in connection with surety bonds, bids, performance bonds and similar obligations) for sums not
overdue or being contested in good faith by appropriate proceedings and not involving any advances
or borrowed money or the deferred purchase price of property or services and, in each case, for
which it maintains adequate reserves;

          (c) Liens described on Schedule 11.2 as of the Closing Date;

          (d) subject to the limitation set forth in Section 11.1(b), (i) Liens arising in
connection with Capital Leases (and attaching only to the property being leased) and (ii) Liens
that constitute purchase money security interests on any property securing debt incurred for the
purpose of financing all or any part of the cost of acquiring such property, provided that
any such Lien attaches to such property within 20 days of the acquisition thereof and attaches
solely to the property so acquired;

          (e) attachments, appeal bonds, judgments and other similar Liens, for sums not exceeding
$100,000 arising in connection with court proceedings, provided the execution or other
enforcement of such Liens is effectively stayed and the claims secured thereby are being actively
contested in good faith and by appropriate proceedings;

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          (f) easements, rights of way, restrictions, minor defects or irregularities in title and other
similar Liens not interfering in any material respect with the ordinary conduct of the business of
any Loan Party;

          (g) informational UCC financing statements filed with respect to operating leases;

          (h) any interest or title of a lessor, sublessor, licensor or sublicensor under any lease or
non-exclusive license permitted by this Agreement;

          (i) Liens on insurance policies and the proceeds thereof incurred in connection with the
financing of insurance premiums in the ordinary course of business;

          (j) Liens in favor of collecting banks arising under Section 4-210 of the UCC;

          (k) licenses, sublicenses, leases or subleases of real property or intellectual property
granted by any Borrower (as lessor or licensor) to third Persons in the ordinary course of business
consistent with past practices;

          (l) subject to the terms of any deposit account control agreements entered into for the
benefit of Administrative Agent, banker’s Liens and rights of set-off of financial institutions
arising in connection with items deposited in accounts maintained at such financial institutions
and subsequently unpaid and unpaid fees and expenses that are charged to any Borrower by such
financial institutions in the ordinary course of business of the maintenance and operation of such
accounts;

          (m) Liens in favor of customs and revenue authorities which secure payment of customs duties
in connection with the importation of goods; and

          (n) Liens arising under the Loan Documents.

          11.3. Restricted Payments.

          Not, and not permit any other Loan Party to, (a) make any distribution to any holders of its
Capital Securities, (b) purchase or redeem any of its Capital Securities, (c) pay any management
fees or similar fees to any of its equityholders or any Affiliate thereof, (d) make any redemption,
prepayment, defeasance, repurchase or any other payment in respect of any Subordinated Debt or (e)
set aside funds for any of the foregoing. Notwithstanding the foregoing, (i) any Subsidiary, if
any, may pay dividends or make other distributions to the Borrowers or to a domestic Wholly-Owned
Subsidiary of a Borrower, if any; (ii) so long as (x) no Event of Default exists or would result
therefrom, and (y) the Total Debt to EBITDA Ratio, for each of not less than two consecutive
Computation Periods, commencing with the Computation Period ending March 31, 2007, is less than
4.75 to 1.0, the Borrowers may pay management fees (or make distributions to Holdings, if
concurrently used by Holdings to make such payments) to Eos and Sponsor or any Affiliate of Eos or
Sponsor (including without limitation Thayer Management) pursuant to the terms of the Management

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Agreement and in an aggregate amount not to exceed $400,000 per annum (plus the amount of any
accrued but unpaid management fees for prior Fiscal Years, to the extent payable in accordance with
the terms hereof); provided, that, subject to the additional provisions of this
clause (ii), (I) if on the last day of any Computation Period occurring following satisfaction of
the terms of the preceding clause (y) the Total Debt to EBITDA Ratio as of such day exceeds 4.75 to
1.0, the Borrowers may not thereafter pay any such management fees (or make distributions to
Holdings in respect thereof) until such date that the Total Debt to EBITDA Ratio as of the last day
of any future Computation Period is less than 4.75 to 1.0, (II) if on the last day of any
Computation Period occurring following satisfaction of the terms of the preceding clause (y) the
Total Debt to EBITDA Ratio as of such day is less than 4.0 to 1.0 (computed on a pro forma basis
after giving effect to the payments contemplated by this
clause (II)), Borrowers may pay any management fees (or make distributions to Holdings in
respect thereof) that have accrued but remain unpaid due to the provisions of this clause (ii) and
(III) any management fees described in this clause (ii) that have accrued but not been paid due to
the provisions hereof shall continue to accrue, and may be paid as provided in this clause (ii);
(iii) so long as no Event of Default exists or would result therefrom, the Borrowers may make
distributions to Holdings that are concurrently used by Holdings to repurchase Capital Securities
of Holdings held by any officer or director of any Loan Party upon the death, permanent disability
or termination of employment of such individual, provided, that (X) the Borrowers are in
compliance on a pro forma basis with the provisions of Section 11.13.1 recomputed for the
most recently ended month for which financial statements are available and (Y) the aggregate amount
of distributions permitted under this clause (B) shall not exceed $500,000 in any Fiscal
Year; (iv) the Borrowers may make (x) regularly scheduled payments (but no prepayments) of
principal and interest in respect of Subordinated Debt, other than the Mezzanine Debt, to the
extent permitted under the subordination provisions thereof, and (y) regularly scheduled payment
s
(but no prepayments) in respect of the Deferred Sargent Earnout Obligations, to the extent
permitted under the Sargent Earnout Subordination Agreement; (v) Borrowers may make regularly
scheduled payments (but no prepayments) of principal and interest in respect of the Mezzanine Debt
to the extent permitted under the Mezzanine Subordination Agreement (provided,
that, (A) Borrowers shall elect to pay all interest accruing on the Mezzanine Debt in
excess of twelve percent (12%) per annum by capitalizing on the applicable interest payment date
such portion of such interest as provided in Section 3.1.1 of the Mezzanine Purchase
Agreement, and (B) any such payment described in Section 3.1.3 of the Mezzanine Purchase
Agreement shall be permitted only to the extent that Borrowers would be in compliance with the
Senior Debt to EBITDA Ratio as of the last day of the most recently calculated Computation Period,
but recalculated to give effect to any Senior Debt incurred for purposes of making any such
payment); (vi) in the event a Borrower files a consolidated income tax return with Holdings, such
Borrower may make dividend and distribution payments to Holdings to permit Holdings to pay federal
and state income taxes then due and owing, franchise taxes and other similar licensing expenses
incurred in the ordinary course of business provided, that the amount of such distribution
shall not be greater, nor the receipt by such Borrower of tax benefits less, than they would have
been had such Borrower not filed a consolidated return with Holdings; (vii) Borrowers may make
dividend and other distribution payments to Holdings and/or Sargent Holdings at such times and in
such amounts as are necessary to permit payment in

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the ordinary course of business of taxes,
accounting and administrative expenses (including without limitation the payment of reasonable
director fees and expenses and premiums with respect to directors and officers liability insurance
policies) payable by Holdings and/or Sargent Holdings; and (viii) so long as no Event of Default
exists or would result therefrom, the Borrowers may make distributions to Holdings to the extent
concurrently distributed by Holdings in accordance with the terms of the Sargent Earnout
Subordination Agreement as a current dividend payment in respect of the Holdings Preferred Stock.

          11.4. Mergers, Consolidations, Sales.

          Not, and not permit any other Loan Party to, (a) be a party to any merger or consolidation, or
purchase or otherwise acquire all or substantially all of the assets or any Capital Securities of
any class of, or any partnership or joint venture interest in, any other
Person, (b) sell, transfer, convey or lease any of its assets or Capital Securities (including
the sale of Capital Securities of any Subsidiary) or (c) sell or assign with or without recourse
any receivables, except for (i) upon not less than five (5) Business Days prior written notice to
the Administrative Agent, any such merger or consolidation of either (I) any domestic Wholly-Owned
Subsidiary of a Borrower into a Borrower or into any other domestic Wholly-Owned Subsidiary of a
Borrower, if any (if such Borrower or such other Subsidiary is the surviving organization), and
(II) a Borrower into any other Borrower, (ii) any such sale, transfer, conveyance, lease or
assignment of or by any Wholly-Owned Subsidiary of a Borrower, if any, into a Borrower or into any
other domestic Wholly-Owned Subsidiary of a Borrower, if any; (iii) sales and dispositions of
assets (including the Capital Securities of Subsidiaries) for at least fair market value (as
determined by the Board of Directors of the Borrower making such sale or disposition) so long as
the net book value of all assets sold or otherwise disposed of in any Fiscal Year does not exceed
five percent (5%) of the net book value of the consolidated assets of the Loan Parties as of the
last day of the preceding Fiscal Year and (iv) the sale by Sargent of the owned real property of
Sargent located in Saginaw, Michigan for at least fair market value.

          11.5. Modification of Organizational Documents.

          Not permit the charter, by-laws or other organizational documents of any Loan Party to be
amended or modified in any way which could reasonably be expected to have a Material Adverse
Effect; not change, or allow any Loan Party to change, its state of formation or its organizational
form.

          11.6. Transactions with Affiliates.

          Not, and not permit any other Loan Party to, enter into, or cause, suffer or permit to exist
any transaction, arrangement or contract (other than the Management Agreement) with any of its
other Affiliates (other than the Loan Parties) which is on terms which are less favorable than are
obtainable from any Person which is not one of its Affiliates.

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          11.7. Unconditional Purchase Obligations.

          Not, and not permit any other Loan Party to, enter into or be a party to any contract for the
purchase of materials, supplies or other property or services if such contract requires that
payment be made by it regardless of whether delivery is ever made of such materials, supplies or
other property or services.

          11.8. Inconsistent Agreements.

          Not, and not permit any other Loan Party to, enter into any material agreement containing any
material provision which would (a) be violated or breached by any borrowing by Borrowers hereunder
or by the performance by any Loan Party of any of its Obligations hereunder or under any other Loan
Document, (b) prohibit any Loan Party from granting to the Administrative Agent and the Lenders, a
Lien on any of its assets or (c) create or permit to exist or become effective any encumbrance or
restriction on the ability of any Subsidiary to (i) pay dividends or make other distributions to
Borrowers or any other Subsidiary, or pay
any Debt owed to Borrowers or any other Subsidiary, (ii) make loans or advances to any Loan
Party or (iii) transfer any of its assets or properties to any Loan Party, other than (A) customary
restrictions and conditions contained in agreements relating to the sale of all or a substantial
part of the assets of any Subsidiary pending such sale, provided that such restrictions and
conditions apply only to the Subsidiary to be sold and such sale is permitted hereunder, (B)
restrictions or conditions imposed by any agreement relating to purchase money Debt, Capital Leases
and other secured Debt permitted by this Agreement if such restrictions or conditions apply only to
the property or assets securing such Debt and (C) customary provisions in leases and other
contracts restricting the assignment thereof.

          11.9. Business Activities; Issuance of Equity; Subsidiaries.

          Not, and not permit any other Loan Party to, engage in any line of business other than the
businesses engaged in on the date hereof and businesses reasonably related thereto. Not, and not
permit any other Loan Party to, issue any Capital Securities other than (a) any issuance of shares
of Holdings’ common Capital Securities or (b) any issuance by a Subsidiary to Borrowers or another
Subsidiary in accordance with Section 11.3. Not, and not permit any other Loan Party to,
form or acquire any Subsidiary.

          11.10. Investments.

          Not, and not permit any other Loan Party to, make or permit to exist any Investment in any
other Person, except the following:

          (a) contributions by Holdings to the capital of any Borrower (which contributions to any
Sargent Company may be made indirectly through capital contributions into Sargent Holdings);

          (b) Investments constituting Debt permitted by Section 11.1;

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          (c) Contingent Liabilities constituting Debt permitted by Section 11.1 or Liens
permitted by Section 11.2;

          (d) Cash Equivalent Investments;

          (e) subject to the provisions of Section 10.10, bank deposits in the ordinary course
of business, provided that the aggregate amount of all such deposits (excluding amounts in
payroll accounts or for accounts payable, in each case to the extent that checks have been issued
to third parties) which are maintained with any bank other than a Lender, following the transfer of
principal deposit accounts to Administrative Agent (as contemplated by Section 10.10),
shall not at any time exceed $200,000;

          (f) Investments in securities of Account Debtors received pursuant to any plan of
reorganization or similar arrangement upon the bankruptcy or insolvency of such account debtors;

          (g) (i) travel and similar advances to employees or independent contractors in the ordinary
course of business and (ii) other loans to independent contractors and other
service providers in the ordinary course of business, in the case of clause (ii), not to
exceed $500,000 in the aggregate at any time outstanding;

          (h) Investments in the form of intercompany loans made by Borrowers to Holdings to the extent
that, at the time such loan is made, a dividend or distribution from Borrowers to Holdings would be
permitted under Section 11.3 and provided that (i) the proceeds of such loans are used for
the purposes specified in Section 11.3 and (ii) such intercompany loan shall be treated as
a dividend for purposes of this Agreement, including, without limitation, determining compliance
with the provisions of Section 11.3;

          (i) deposits made in the ordinary course of business securing obligations or performance under
contracts, such as in connection with real estate or personal property leases;

          (j) promissory notes and other similar non-cash consideration received by Borrowers in
connection with dispositions permitted under Section 11.4; and

          (k) Investments listed on Schedule 11.10 as of the Closing Date.

          provided that (x) any Investment which when made complies with the requirements of the
definition of the term “Cash Equivalent Investment” may continue to be held notwithstanding that
such Investment if made thereafter would not comply with such requirements; (y) no Investment
otherwise permitted by clause (b) or (c) shall be permitted to be made if,
immediately before or after giving effect thereto, any Event of Default exists.

          11.11. Restriction of Amendments to Certain Documents.

          Not amend or otherwise modify, or waive any rights under, any Related Agreements or any
Subordinated Debt Documents, unless, (x) such amendment,

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modification or waiver could not
reasonably be expected to have a Material Adverse Effect (it being understood that modifications
expressly permitted by the Mezzanine Subordination Agreement shall be acceptable for purposes of
this clause (x)), (y) does not violate or contravene any of the subordination provisions of
any Subordinated Debt Document and (z) Administrative Agent shall have failed to receive a copy of
any such amendment, modification or waiver not less than five (5) Business Days prior to the
execution and delivery thereof.

          11.12. Fiscal Year; Accounting Changes.

          Not (a) change its Fiscal Year or (b) change its accounting treatment or reporting practices,
except as required by GAAP.

          11.13. Financial Covenants.

          11.13.1. Fixed Charge Coverage Ratio.

          Not permit the Fixed Charge Coverage Ratio for any Computation Period to be less than the
applicable ratio set forth below for such Computation Period:

	 	 	 	 	 
	Computation	 	Fixed Charge
	Period Ending	 	Coverage Ratio
	 
	 	 	 	 
	March 31, 2007
	 	 	1.00 to 1.0	 
	June 30, 2007
	 	 	1.00 to 1.0	 
	September 30, 2007
	 	 	1.05 to 1.0	 
	December 31, 2007
	 	 	1.10 to 1.0	 
	Each of March 31 and June 30 in 2008
	 	 	1.10 to 1.0	 
	Each of September 30 and December 31 in 2008
	 	 	1.15 to 1.0	 
	Each of March 31, June 30, September 30 and December 31 in
2009
	 	 	1.20 to 1.0	 
	Each March 31, June 30, September 30 and December 31
thereafter
	 	 	1.25 to 1.0	 

          11.13.2. Senior Debt to EBITDA Ratio.

          Not permit the Senior Debt to EBITDA Ratio as of the last day of any Computation Period to
exceed the applicable ratio set forth below for such Computation Period:

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	Computation	 	Senior Debt to
	Period Ending	 	EBITDA Ratio
	 
	 	 	 	 
	March 31, 2007
	 	 	4.00 to 1.0	 
	June 30, 2007
	 	 	4.00 to 1.0	 
	September 30, 2007
	 	 	4.00 to 1.0	 
	December 31, 2007
	 	 	3.00 to 1.0	 
	March 31, 2008
	 	 	2.75 to 1.0	 
	June 30, 2008
	 	 	2.75 to 1.0	 
	Each September 30, December 31, March 31 and June 30
thereafter
	 	 	2.50 to 1.0	 

          11.13.3. Total Debt to EBITDA Ratio.

          Not permit the Total Debt to EBITDA Ratio as of the last day of any Computation Period to
exceed the applicable ratio set forth below for such Computation Period:

	 	 	 	 	 
	Computation	 	Total Debt to
	Period Ending	 	EBITDA Ratio
	 
	 	 	 	 
	March 31, 2007
	 	 	5.95 to 1.0	 
	June 30, 2007
	 	 	5.95 to 1.0	 
	September 30, 2007
	 	 	5.95 to 1.0	 
	December 31, 2007
	 	 	5.00 to 1.0	 
	March 31, 2008
	 	 	4.75 to 1.0	 
	June 30, 2008
	 	 	4.50 to 1.0	 
	September 30, 2008
	 	 	4.25 to 1.0	 
	December 31, 2008
	 	 	4.00 to 1.0	 
	Each March 31, June 30, September 30 and December 31
thereafter
	 	 	3.75 to 1.0	 

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          11.14. Cancellation of Debt.

          Not, and not permit any other Loan Party to, cancel any claim or debt owing to it, except for
reasonable consideration or in the ordinary course of business, and except for the cancellation of
debts or claims not to exceed $500,000 in any Fiscal Year.

          11.15. Additional Covenants.

          In the event that additional covenants which are not included in the Mezzanine Purchase
Agreement on the date hereof are, following the date hereof, added to the Mezzanine Purchase
Agreement or incorporated in any loan or credit agreement which replaces or refinances the
Mezzanine Purchase Agreement, such covenants shall, to the extent the same do not conflict with
covenants set forth in this Agreement, be automatically deemed to have been added to this Agreement
for the benefit of Administrative Agent and the Lenders, and shall be incorporated by reference as
if fully set forth, and Administrative Agent and the Lenders shall be entitled to the benefit of
any such incorporated covenants from and after such incorporation; provided that any such
additional incorporated covenants that are financial covenants (e.g., performance or liquidity
targets or leverage or coverage ratios) shall be deemed to be incorporated into this Agreement as
adjusted such that the levels are 15% more restrictive to Borrowers than the corresponding new
covenant in the Mezzanine Purchase Agreement or such replacement or refinancing facility.

     SECTION 12. EFFECTIVENESS; CONDITIONS OF LENDING, ETC.

          The deemed making of the Term Loan and the initial Revolving Loans, and the obligation of each
Lender to make its Loans and of the Issuing Lender to issue Letters of Credit, is subject to the
following conditions precedent:

          12.1. Initial Credit Extension.

          The deemed making of the Term Loan and the initial Revolving Loans, and the obligation of the
Lenders to make the initial Loans and the obligation of the Issuing Lender to issue its initial
Letter of Credit (whichever first occurs) is, in addition to the conditions precedent specified in
Section 12.2, subject to the conditions precedent that (a) all Debt to be Repaid has been
(or concurrently with the initial borrowing will be) paid in full, and that all agreements and
instruments governing the Debt to be Repaid and that all Liens securing such Debt to be Repaid have
been (or concurrently with the initial borrowing will be) terminated and (b) the Administrative
Agent shall have received (i) evidence, reasonably satisfactory to the Administrative Agent, that
the Related Transactions have been consummated in accordance with the terms of the Related
Agreements (without any amendment thereto or waiver thereunder unless consented to by the Lenders);
and (ii) all of the following, each duly executed and dated the Closing Date (or such earlier date
as shall be satisfactory to the Administrative Agent), in form and substance satisfactory to the
Administrative Agent (and the date on which all such conditions precedent have been satisfied or
waived in writing by the Administrative Agent and the Lenders is called the “Closing Date”):

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          12.1.1. Notes.

          A Note for each Lender.

          12.1.2. Authorization Documents.

          For each Loan Party, such Person’s (a) charter (or similar formation document), certified by
the appropriate governmental authority; (b) good standing certificates in its state of
incorporation (or formation) and in each other state requested by the Administrative Agent; (c)
bylaws (or similar governing document); (d) resolutions of its board of directors (or similar
governing body) approving and authorizing such Person’s execution, delivery and performance of the
Loan Documents to which it is party and the transactions contemplated thereby; and (e) signature
and incumbency certificates of its officers executing any of the Loan Documents (it being
understood that the Administrative Agent and each Lender may conclusively rely on each such
certificate until formally advised by a like certificate of any changes therein), all certified by
its secretary or an assistant secretary (or similar officer) as being in full force and effect
without modification.

          12.1.3. Consents, etc.

          Certified copies of all documents evidencing any necessary corporate or partnership action,
consents and governmental approvals (if any) required for the execution, delivery and performance
by the Loan Parties of the documents referred to in this Section 12;
and copies of any amendments and consents to existing Subordinated Debt, with respect to the
transactions contemplated hereby.

          12.1.4. Letter of Direction.

          A letter of direction containing funds flow information with respect to the proceeds of the
Loans on the Closing Date.

          12.1.5. Guaranty and Collateral Agreement.

          A counterpart of the Guaranty and Collateral Agreement executed by each Loan Party, together
with all instruments, transfer powers and other items required to be delivered in connection
therewith.

          12.1.6. Subordination Agreements.

          Subordination Agreements with respect to all Subordinated Debt.

          12.1.7. Opinions of Counsel.

          Opinions of counsel for each Loan Party with respect to the Loan Documents, including local
counsel reasonably requested by the Administrative Agent, and all other opinions issued pursuant to
the Related Transactions, which other opinions shall be issued to, or provide for reliance by,
Administrative Agent and the Lenders.

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          12.1.8. Insurance.

          Evidence of the existence of insurance required to be maintained pursuant to Section
10.3(b), together with evidence that the Administrative Agent has been named as a lender’s loss
payee, additional insured or collateral assignee as applicable, on all related insurance policies.

          12.1.9. Copies of Documents.

          Copies of the Related Agreements certified by the secretary or assistant secretary (or similar
officer) of Borrower Representative as being true, accurate and complete.

          12.1.10. Payment of Fees.

          Evidence of payment by the Loan Parties of all accrued and unpaid fees, costs and expenses to
the extent then due and payable on or about the Closing Date, together with all Attorney Costs of
the Administrative Agent to the extent invoiced prior to the Closing Date, plus such
additional amounts of Attorney Costs as shall constitute the Administrative Agent’s reasonable
estimate of Attorney Costs incurred or to be incurred by the Administrative Agent through the
closing proceedings (provided that such estimate shall not thereafter preclude final
settling of accounts between Borrowers and the Administrative Agent), with the aggregate amount of
all fees and expenses described in this Section 12.1.10 not to exceed $1,000,000.

          12.1.11. Pro Formas.

          A consolidated pro forma balance sheet of Holdings as at December 31, 2006,
together with consolidated pro forma income statements and cash flow statements for
Holdings and its Subsidiaries presented on an annual basis for Fiscal Year 2005 and on a quarterly
basis for Fiscal Year 2006, all adjusted to give effect to the consummation of the Related
Transactions and the financings contemplated hereby as if such transactions had occurred on such
date, consistent in all material respects with the sources and uses of cash as previously described
to the Lenders and the forecasts previously provided to the Lenders.

          12.1.12. Search Results; Lien Terminations.

          Certified copies of Uniform Commercial Code search reports dated a date reasonably near to the
Closing Date, listing all effective financing statements which name any Loan Party (under their
present names and any previous names) as debtors, together with (a) copies of such financing
statements, (b) payoff letters evidencing repayment in full of all Debt to be Repaid, the
termination of all agreements relating thereto and the release of all Liens granted in connection
therewith, with Uniform Commercial Code or other appropriate termination statements and documents
effective to evidence the foregoing (other than Liens permitted by Section 11.2) and (c)
such other Uniform Commercial Code termination statements as the Administrative Agent may
reasonably request.

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          12.1.13. Filings, Registrations and Recordings.

          The Administrative Agent shall have received each document (including Uniform Commercial Code
financing statements) required by the Collateral Documents or under law or reasonably requested by
the Administrative Agent to be filed, registered or recorded in order to create in favor of the
Administrative Agent, for the benefit of the Lenders, a perfected Lien on the collateral described
therein, prior to any other Liens (subject only to Liens permitted pursuant to Section
11.2), in proper form for filing, registration or recording.

          12.1.14. Borrowing Base Certificate.

          A Borrowing Base Certificate dated as of the Closing Date.

          12.1.15. Maximum Revolving Loans.

          The fact that no more than $25,500,000 in Revolving Loans and/or Letters of Credit in the
aggregate shall be requested by Borrowers on the Closing Date.

          12.1.16. Closing Certificate, Consents and Permits.

          A certificate executed by an officer of each Borrower on behalf of Borrowers certifying (a)
the matters set forth in Section 12.2.1 as of the Closing Date and (b) the occurrence of
the closing of the Related Transactions and that such closing has been consummated in accordance
with the terms of the Related Agreements without waiver of any material condition thereof.

          12.1.17. Real Estate Documents.

          With respect to each parcel of real property owned by Borrowers, a duly executed Mortgage or
Mortgage amendment, as requested by Administrative Agent, providing for a fully perfected Lien to
secure the Obligations, in favor of the Administrative Agent, in all right, title and interest of
Borrowers in such real property together with:

          (a) an ALTA Loan Title Commitment Report, issued by an insurer acceptable to the
Administrative Agent;

          (b) to the extent requested by Administrative Agent, copies of all documents of record
concerning such real property as shown on the commitment for the ALTA Loan Title Commitment Report
referred to above; and

          (c) a flood insurance policy concerning such real property, if required by the Flood Disaster
Protection Act of 1973.

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          12.1.18. Collateral Access Agreement.

          A Collateral Access Agreement from the landlord of Borrowers’ leased real property serving as
each Borrower’s headquarters.

          12.1.19. EBITDA.

          Evidence reasonably acceptable to the Administrative Agent that EBITDA for the trailing twelve
(12) month period for which financial information of Borrowers is most recently available is not
less than $24,000,000.

          12.1.20. Projections.

          The Administrative Agent shall have received projected income statements, balance sheets and
cash flow statements prepared by Borrowers (quarterly for one year and annually thereafter) and
giving effect to the Related Transactions and the transactions otherwise described in this
Section 12.1.

          12.1.21. Other.

          Such other documents as the Administrative Agent or any Lender may reasonably request.

          12.2. Conditions.

          The obligation (a) of each Lender to make each Loan and (b) of the Issuing Lender to issue
each Letter of Credit is subject to the following further conditions precedent that:

          12.2.1. Compliance with Warranties, No Default, etc.

          Both before and after giving effect to any borrowing and the issuance of any Letter of Credit,
the following statements shall be true and correct:

          (a) the representations and warranties of each Loan Party set forth in this Agreement and the
other Loan Documents shall be true and correct in all respects with the same effect as if then made
(except to the extent stated to relate to a specific earlier date, in which case such
representations and warranties shall be true and correct as of such earlier date); and

          (b) no Event of Default or Unmatured Event of Default shall have then occurred and be
continuing.

          12.2.2. Confirmatory Certificate.

          If requested by the Administrative Agent, the Administrative Agent shall have received a
certificate dated the date of such requested Loan or Letter of Credit and signed by a duly
authorized representative of each Borrower as to the matters set out in

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Section 12.2.1 (it
being understood that each request by any Borrower for the making of a Loan or the issuance of a
Letter of Credit shall be deemed to constitute a representation and warranty by Borrowers that the
conditions precedent set forth in Section 12.2.1 will be satisfied at the time of the
making of such Loan or the issuance of such Letter of Credit), together with such other documents
as the Administrative Agent may reasonably request in support thereof.

     SECTION
13. EVENTS OF DEFAULT AND THEIR EFFECT.

          13.1. Events of Default.

          Each of the following shall constitute an Event of Default under this Agreement:

          13.1.1. Non-Payment of the Loans, etc.

          Default in the payment when due of the principal of any Loan; or default, and continuance
thereof for five days, in the payment when due of any interest, fee, reimbursement obligation with
respect to any Letter of Credit or other amount payable by any Loan Party hereunder or under any
other Loan Document.

          13.1.2. Non-Payment of Other Debt.

          Any default shall occur under (i) the Mezzanine Purchase Agreement, or (ii) the terms
applicable to any other Debt of any Loan Party in an aggregate amount with respect to this
clause (ii) (for all such Debt so affected and including undrawn committed or available
amounts and amounts owing to all creditors under any combined or syndicated credit arrangement)
exceeding $500,000 and such default shall (a) consist of the failure to pay such Debt when due,
whether by acceleration or otherwise, or (b) accelerate the maturity of such Debt or permit the
holder or holders thereof, or any trustee or agent for such holder or holders, to cause such Debt
to become due and payable (or require any Loan Party to purchase or redeem such Debt or post cash
collateral in respect thereof) prior to its expressed maturity.

          13.1.3. Other Material Obligations.

          Default in the payment when due, or in the performance or observance of, any material
obligation of, or condition agreed to by, any Loan Party with respect to any material purchase or
lease of goods or services where such default, singly or in the aggregate with all other such
defaults, might reasonably be expected to have a Material Adverse Effect.

          13.1.4. Bankruptcy, Insolvency, etc.

          Any Loan Party becomes insolvent or generally fails to pay, or admits in writing its inability
or refusal to pay, debts as they become due; or any Loan Party applies for, consents to, or
acquiesces in the appointment of a trustee, receiver or other custodian for such Loan Party or any
property thereof, or makes a general assignment for the benefit of

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creditors; or, in the absence of
such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for
any Loan Party or for a substantial part of the property of any thereof and is not discharged
within 60 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding
under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced
in respect of any Loan Party, and if such case or proceeding is not commenced by such Loan Party,
it is consented to or acquiesced in by such Loan Party, or remains for 60 days undismissed; or any
Loan Party takes any action to authorize, or in furtherance of, any of the foregoing.

          13.1.5. Non-Compliance with Loan Documents.

          (a) Failure by any Loan Party to comply with or to perform any covenant set forth in any of
Sections 10.3(b), 10.5 or Section 11; or

          (b) failure by any Loan Party to comply with or to perform any other provision of this
Agreement or any other Loan Document other than any Specified Delivery Section (and not
constituting an Event of Default under any other provision of this Section 13) and
continuance of such failure described in this clause (b) for 30 days after the earlier of
(1) receipt by Borrowers of notice from Administrative Agent of such failure and (2) actual
knowledge of Borrowers or any other Loan Party of such failure; or

          (c) failure by any Loan Party to comply with or to perform any provision of any Specified
Delivery Section and continuance of such failure described in this clause (c) for three
Business Days, following notice by Administrative Agent to Borrowers of any such failure.

          13.1.6. Representations; Warranties.

          Any representation or warranty made by any Loan Party herein or any other Loan Document is
breached or is false or misleading in any material respect, or any schedule, certificate, financial
statement, report, notice or other writing furnished by any Loan Party to the Administrative Agent
or any Lender in connection herewith is false or misleading in any material respect on the date as
of which the facts therein set forth are stated or certified.

          13.1.7. Pension Plans.

          (a) Any Person institutes steps to terminate a Pension Plan if as a result of such termination
any Loan Party or any member of the Controlled Group could be required to make a contribution to
such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of
$250,000;

          (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to
a Lien under Section 302(f) of ERISA;

          (c) the Unfunded Liability exceeds twenty percent of the Total Plan Liability, or

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          (d) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan
and the withdrawal liability (without unaccrued interest) to Multiemployer Pension Plans as a
result of such withdrawal (including any outstanding withdrawal liability that any Loan Party or
any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000.

          13.1.8. Judgments.

          Final judgments which exceed an aggregate of $500,000 shall be rendered against any Loan Party
and shall not have been paid, discharged or vacated or had execution thereof stayed pending appeal
within 60 days after entry or filing of such judgments.

          13.1.9. Invalidity of Collateral Documents, etc.

          Any material Collateral Document shall cease to be in full force and effect; or any Loan Party
(or any Person by, through or on behalf of any Loan Party) shall contest in any manner the
validity, binding nature or enforceability of any material Collateral Document.

          13.1.10. Invalidity of Subordination Provisions, etc.

          Any subordination provision in any document or instrument governing Subordinated Debt, or any
subordination provision in any guaranty by any Subsidiary of any Subordinated Debt, shall cease to
be in full force and effect, or any Loan Party or any other Person (including the holder of any
applicable Subordinated Debt) shall contest in any manner the validity, binding nature or
enforceability of any such provision.

          13.1.11. Change of Control.

          A Change of Control shall occur.

          13.1.12. Material Adverse Effect.

          The occurrence of any event having a Material Adverse Effect.

          13.1.13. Default Under Sponsor Make Whole Agreement.

          Sponsor shall breach any of its obligations under the Sponsor Make Whole Agreement and such
breach continues beyond any applicable notice, grace or cure period set forth therein, or shall
contest in any manner the validity, binding nature or enforceability of any provision of the
Sponsor Make Whole Agreement.

          13.2. Effect of Event of Default.

          If any Event of Default described in Section 13.1.4 shall occur in respect of any
Borrower, the Commitments shall immediately terminate and the Loans and all other Obligations
hereunder shall become immediately due and payable and Borrowers shall,

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jointly and severally,
become immediately obligated to Cash Collateralize all Letters of Credit, all without presentment,
demand, protest or notice of any kind; and, if any other Event of Default shall occur and be
continuing, the Administrative Agent may (and, upon the written request of the Required Lenders
shall) declare the Commitments to be terminated in whole or in part and/or declare all or any part
of the Loans and all other Obligations hereunder to be due and payable and/or demand that Borrowers
immediately Cash Collateralize all or any Letters of Credit, whereupon the Commitments shall
immediately terminate (or be reduced, as applicable) and/or the Loans and other Obligations
hereunder shall become immediately due and payable (in whole or in part, as applicable) and/or
Borrowers shall immediately become obligated to Cash Collateralize the Letters of Credit (all or
any, as applicable), all without presentment, demand, protest or notice of any kind. The
Administrative Agent shall promptly advise Borrower Representative of any such declaration, but
failure to do so shall not impair the effect of such declaration. Any cash collateral delivered
hereunder shall be held by the Administrative Agent (without liability for interest thereon) and
applied to the Obligations arising in connection with any drawing under a Letter of Credit. After
the expiration or termination of all Letters of Credit, such cash collateral shall be applied by
the Administrative Agent to any remaining Obligations hereunder and any excess shall be delivered
to Borrower Representative or as a court of competent jurisdiction may elect. Upon the occurrence
and during the continuance of an Event of Default, the Administrative Agent may, and upon the
written request of the Required Lenders shall, enforce any or all rights and remedies under any of
the Loan Documents or under applicable law.

     SECTION
14. THE AGENT.

          14.1. Appointment and Authorization.

          Each Lender hereby irrevocably (subject to Section 14.10) appoints, designates and
authorizes the Administrative Agent to take such action on its behalf under the provisions of this
Agreement and each other Loan Document and to exercise such powers and perform such duties as are
expressly delegated to it by the terms of this Agreement or any other Loan Document, together with
such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary
contained elsewhere in this Agreement or in any other Loan Document, the Administrative Agent shall
not have any duty or responsibility except those expressly set forth herein, nor shall the
Administrative Agent have or be deemed to have any fiduciary relationship with any Lender or
participant, and no implied
covenants, functions, responsibilities, duties, obligations or liabilities shall be read into
this Agreement or any other Loan Document or otherwise exist against the Administrative Agent.
Without limiting the generality of the foregoing sentence, the use of the term “agent” herein and
in other Loan Documents with reference to the Administrative Agent is not intended to connote any
fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable
law. Instead, such term is used merely as a matter of market custom, and is intended to create or
reflect only an administrative relationship between independent contracting parties.

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          14.2. Issuing Lender.

          The Issuing Lender shall act on behalf of the Lenders (according to their Pro Rata Shares)
with respect to any Letters of Credit issued by it and the documents associated therewith. The
Issuing Lender shall have all of the benefits and immunities (a) provided to the Administrative
Agent in this Section 14 with respect to any acts taken or omissions suffered by the
Issuing Lender in connection with Letters of Credit issued by it or proposed to be issued by it and
the applications and agreements for letters of credit pertaining to such Letters of Credit as fully
as if the term “Administrative Agent”, as used in this Section 14, included the Issuing
Lender with respect to such acts or omissions and (b) as additionally provided in this Agreement
with respect to the Issuing Lender.

          14.3. Delegation of Duties.

          The Administrative Agent may execute any of its duties under this Agreement or any other Loan
Document by or through agents, employees or attorneys-in-fact and shall be entitled to rely in good
faith upon advice of counsel and other consultants or experts concerning all matters pertaining to
such duties. The Administrative Agent shall not be responsible for the negligence or misconduct of
any agent or attorney-in-fact that it selects in the absence of gross negligence or willful
misconduct.

          14.4. Exculpation of Administrative Agent.

          None of the Administrative Agent nor any of its directors, officers, employees or agents shall
(a) be liable for any action taken or omitted to be taken by any of them under or in connection
with this Agreement or any other Loan Document or the transactions contemplated hereby (except to
the extent resulting from its own gross negligence or willful misconduct in connection with its
duties expressly set forth herein as determined by a final, nonappealable judgment by a court of
competent jurisdiction), or (b) be responsible in any manner to any Lender or participant for any
recital, statement, representation or warranty made by any Loan Party or Affiliate of Borrowers, or
any officer thereof, contained in this Agreement or in any other Loan Document, or in any
certificate, report, statement or other document referred to or provided for in, or received by the
Administrative Agent under or in connection with, this Agreement or any other Loan Document, or the
validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other
Loan Document (or the creation, perfection or priority of any Lien or security interest therein),
or for any failure of Borrowers or any other party to any Loan Document to perform its Obligations
hereunder or thereunder. The Administrative Agent shall not be under any obligation to any Lender
to ascertain or to inquire as to the observance or performance of any of the agreements
contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the
properties, books or records of any Loan Party or any Subsidiaries or Affiliates of any Loan Party.

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          14.5. Reliance by Administrative Agent. 

          The Administrative Agent shall be entitled to rely, and shall be fully protected in relying,
upon any writing, communication, signature, resolution, representation, notice, consent,
certificate, electronic mail message, affidavit, letter, telegram, facsimile, telex or telephone
message, statement or other document or conversation believed by it in good faith to be genuine and
correct and to have been signed, sent or made by the proper Person or Persons, and upon advice and
statements relied upon by it in good faith of legal counsel (including counsel to Borrowers),
independent accountants and other experts selected by the Administrative Agent. The Administrative
Agent shall be fully justified in failing or refusing to take any action under this Agreement or
any other Loan Document unless it shall first receive such advice or concurrence of the Required
Lenders as it deems appropriate and, if it so requests, confirmation from the Lenders of their
obligation to indemnify the Administrative Agent against any and all liability and expense which
may be incurred by it by reason of taking or continuing to take any such action. The
Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting,
under this Agreement or any other Loan Document in accordance with a request or consent of the
Required Lenders and such request and any action taken or failure to act pursuant thereto shall be
binding upon each Lender. For purposes of determining compliance with the conditions specified in
Section 12, each Lender that has signed this Agreement shall be deemed to have consented
to, approved or accepted or to be satisfied with, each document or other matter required thereunder
to be consented to or approved by or acceptable or satisfactory to a Lender unless the
Administrative Agent shall have received written notice from such Lender prior to the proposed
Closing Date specifying its objection thereto.

          14.6. Notice of Default.

          The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of
any Event of Default or Unmatured Event of Default except with respect to defaults in the payment
of principal, interest and fees required to be paid to the Administrative Agent for the account of
the Lenders, unless the Administrative Agent shall have received written notice from a Lender or
Borrowers referring to this Agreement, describing such Event of Default or Unmatured Event of
Default and stating that such notice is a “notice of default”. The Administrative Agent will
notify the Lenders of its receipt of any such notice. The Administrative Agent shall take such
action with respect to such Event of Default or Unmatured Event of Default as may be requested by
the Required Lenders in accordance with Section 13; provided that unless and until
the Administrative Agent has received any such request, the Administrative Agent may (but shall not
be obligated to) take such action, or refrain from taking such action, with respect to such Event
of Default or Unmatured Event of Default as it shall deem advisable or in the best interest of the
Lenders.

          14.7. Credit Decision.

          Each Lender acknowledges that the Administrative Agent has not made any representation or
warranty to it, and that no act by the Administrative Agent hereafter taken, including any consent
and acceptance of any assignment or review of the affairs of the Loan

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Parties, shall be deemed to
constitute any representation or warranty by the Administrative Agent to any Lender as to any
matter, including whether the Administrative Agent has disclosed material information in its
possession. Each Lender represents to the Administrative Agent that it has, independently and
without reliance upon the Administrative Agent and based on such documents and information as it
has deemed appropriate, made its own appraisal of and investigation into the business, prospects,
operations, property, financial and other condition and creditworthiness of the Loan Parties, and
made its own decision to enter into this Agreement and to extend credit to Borrowers hereunder.
Each Lender also represents that it will, independently and without reliance upon the
Administrative Agent and based on such documents and information as it shall deem appropriate at
the time, continue to make its own credit analysis, appraisals and decisions in taking or not
taking action under this Agreement and the other Loan Documents, and to make such investigations as
it deems necessary to inform itself as to the business, prospects, operations, property, financial
and other condition and creditworthiness of Borrowers. Except for notices, reports and other
documents expressly herein required to be furnished to the Lenders by the Administrative Agent
(which list includes, without limitation, copies of the financial statements described in
Sections 10.1.1, 10.1.2, 10.1.3, 10.1.4, 10.1.7,
10.1.8, 10.1.9, 10.1.10 and 10.1.11 promptly following receipt
thereof by Administrative Agent), the Administrative Agent shall not have any duty or
responsibility to provide any Lender with any credit or other information concerning the business,
prospects, operations, property, financial or other condition or creditworthiness of Borrowers
which may come into the possession of the Administrative Agent.

          14.8. Indemnification.

          Whether or not the transactions contemplated hereby are consummated, each Lender shall
indemnify upon demand the Administrative Agent and its directors, officers, employees and agents
(to the extent not reimbursed by or on behalf of Borrowers and without limiting the obligation of
Borrowers to do so), according to its applicable Pro Rata Share, from and against any and all
Indemnified Liabilities (as hereinafter defined); provided that no Lender shall be liable
for any payment to any such Person of any portion of the Indemnified Liabilities to the extent
determined by a final, nonappealable judgment by a court of competent jurisdiction to have resulted
from the applicable Person’s own gross negligence or willful misconduct. No action taken in
accordance with the directions of the Required Lenders shall be deemed to constitute gross
negligence or willful misconduct for purposes of this Section. Without limitation of the
foregoing, each Lender shall reimburse the Administrative Agent upon demand for its ratable share
of any costs or out-of-pocket expenses (including Attorney Costs and Taxes) incurred by the
Administrative Agent in connection with the preparation, execution, delivery, administration,
modification, amendment or enforcement (whether through negotiations, legal proceedings or
otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, any
other Loan Document, or any document contemplated by or referred to herein, to the extent that the
Administrative Agent is not reimbursed for such expenses by or on behalf of Borrowers.
The undertaking in this Section shall survive repayment of the Loans, cancellation of the
Notes, expiration or termination of the Letters of Credit, any foreclosure under, or

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modification,
release or discharge of, any or all of the Collateral Documents, termination of this Agreement and
the resignation or replacement of the Administrative Agent.

          14.9. Administrative Agent in Individual Capacity.

          LaSalle and its Affiliates may make loans to, issue letters of credit for the account of,
accept deposits from, acquire equity interests in and generally engage in any kind of banking,
trust, financial advisory, underwriting or other business with the Loan Parties and Affiliates as
though LaSalle were not the Administrative Agent hereunder and without notice to or consent of any
Lender. Each Lender acknowledges that, pursuant to such activities, LaSalle or its Affiliates may
receive information regarding Borrowers or their respective Affiliates (including information that
may be subject to confidentiality obligations in favor of Borrowers or such Affiliate) and
acknowledge that the Administrative Agent shall be under no obligation to provide such information
to them. With respect to their Loans (if any), LaSalle and its Affiliates shall have the same
rights and powers under this Agreement as any other Lender and may exercise the same as though
LaSalle were not the Administrative Agent, and the terms “Lender” and “Lenders” include LaSalle and
its Affiliates, to the extent applicable, in their individual capacities.

          14.10. Successor Administrative Agent.

          The Administrative Agent may resign as Administrative Agent upon 30 days’ notice to the
Lenders. If the Administrative Agent resigns under this Agreement, the Required Lenders shall,
with (so long as no Event of Default exists) the consent of Borrower Representative (which shall
not be unreasonably withheld or delayed), appoint from among the Lenders a successor agent for the
Lenders. If no successor agent is appointed prior to the effective date of the resignation of the
Administrative Agent, the Administrative Agent may appoint, after consulting with the Lenders and
Borrower Representative and the written approval of the proposed appointee, a successor agent from
among the Lenders. Upon the acceptance of its appointment as successor agent hereunder, such
successor agent shall succeed to all the rights, powers and duties of the retiring Administrative
Agent and the term “Administrative Agent” shall mean such successor agent, and the retiring
Administrative Agent’s appointment, powers and duties as Administrative Agent shall be terminated.
After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the
provisions of this Section 14 and Sections 15.5 and 15.17 shall inure to
its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent
under this Agreement. If no successor agent has accepted appointment as Administrative Agent by
the date which is 30 days following a retiring Administrative Agent’s notice of resignation, the
retiring Administrative Agent’s resignation shall nevertheless thereupon become effective and the
Lenders shall perform all of the duties of the Administrative Agent hereunder until such time, if
any, as the Required Lenders appoint a successor agent as provided for above.

          14.11. Collateral Matters.

          The Lenders irrevocably authorize the Administrative Agent, at its option and in its
discretion, (a) to release any Lien granted to or held by the Administrative Agent under

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any Collateral Document (i) upon termination of the Commitments and payment in full of all
Loans and all other obligations of Borrowers hereunder and the expiration or termination of all
Letters of Credit; (ii) constituting property sold or to be sold or disposed of as part of or in
connection with any disposition permitted hereunder; or (iii) subject to Section 15.1, if
approved, authorized or ratified in writing by the Required Lenders; or (b) to subordinate its
interest in any Collateral to any holder of a Lien on such Collateral which is permitted by
Section 11.2(d)(i) or (d)(ii) (it being understood that the Administrative Agent
may conclusively rely on a certificate from Borrower Representative in determining whether the Debt
secured by any such Lien is permitted by Section 11.1(b)). The Lenders further irrevocably
authorize the Administrative Agent to release any Lien held by the Administrative Agent with
respect to certain real property previously owned by Roadrunner (and sold by Roadrunner prior to
the Closing Date) located in Vilas County, Wisconsin, and the Administrative Agent hereby agrees to
deliver such release to Borrowers on or promptly following the Closing Date. Upon request by the
Administrative Agent at any time, the Lenders will confirm in writing the Administrative Agent’s
authority to release, or subordinate its interest in, particular types or items of Collateral
pursuant to this Section 14.11. Each Lender hereby authorizes the Administrative Agent to
give blockage notices in connection with any Subordinated Debt at the direction of Required Lenders
and agrees that it will not act unilaterally to deliver such notices.

          14.12. Administrative Agent May File Proofs of Claim.

          In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any
Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then
be due and payable as herein expressed or by declaration or otherwise and irrespective of whether
the Administrative Agent shall have made any demand on Borrowers) shall be entitled and empowered,
by intervention in such proceeding or otherwise:

          (a) to file and prove a claim for the whole amount of the principal and interest owing and
unpaid in respect of the Loans, and all other Obligations that are owing and unpaid and to file
such other documents as may be necessary or advisable in order to have the claims of the Lenders
and the Administrative Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Lenders and the Administrative Agent and their respective agents
and counsel and all other amounts due the Lenders and the Administrative Agent under Sections
5, 15.5 and 15.17) allowed in such judicial proceedings; and

          (b) to collect and receive any monies or other property payable or deliverable on any such
claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender to make such payments to the
Administrative Agent and, in the event that the Administrative Agent shall consent to the making of
such payments directly to the Lenders, to pay to the Administrative Agent any

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amount due for the
reasonable compensation, expenses, disbursements and advances of the
Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent
under Sections 5, 15.5 and 15.17.

          Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or
consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the
Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

          14.13. Other Agents; Arrangers and Managers.

          None of the Lenders or other Persons identified on the facing page or signature pages of this
Agreement as a “syndication agent,” “documentation agent,” “co-agent,” “book manager,” “lead
manager,” “arranger,” “lead arranger” or “co-arranger”, if any, shall have any right, power,
obligation, liability, responsibility or duty under this Agreement other than, in the case of such
Lenders, those applicable to all Lenders as such. Without limiting the foregoing, none of the
Lenders or other Persons so identified shall have or be deemed to have any fiduciary relationship
with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on any of the
Lenders or other Persons so identified in deciding to enter into this Agreement or in taking or not
taking action hereunder.

     SECTION
15. GENERAL.

          15.1. Waiver; Amendments.

          No delay on the part of the Administrative Agent or any Lender in the exercise of any right,
power or remedy shall operate as a waiver thereof, nor shall any single or partial exercise by any
of them of any right, power or remedy preclude other or further exercise thereof, or the exercise
of any other right, power or remedy. No amendment, modification or waiver of, or consent with
respect to, any provision of this Agreement or the other Loan Documents shall in any event be
effective unless the same shall be in writing and acknowledged by Lenders having aggregate Pro Rata
Shares of not less than the aggregate Pro Rata Shares expressly designated herein with respect
thereto or, in the absence of such designation as to any provision of this Agreement, by the
Required Lenders, and then any such amendment, modification, waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given. No amendment,
modification, waiver or consent shall (a) extend or increase the Commitment of any Lender without
the written consent of such Lender, (b) extend the date scheduled for payment of any principal
(excluding mandatory prepayments) of or interest on the Loans or any fees payable hereunder without
the written consent of each Lender directly affected thereby, (c) reduce the principal amount of
any Loan, the rate of interest thereon or any fees payable hereunder, without the consent of each
Lender directly affected thereby (except for periodic adjustments of interest rates and fees
resulting from a change in the Applicable Margin as provided for in this Agreement); or (d) release
any party from its obligations under the Guaranty or all or any substantial part of the Collateral
granted under the Collateral Documents, change the

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definition of Required Lenders, any provision of
this Section 15.1 or reduce the aggregate Pro Rata Share required to effect an amendment,
modification, waiver or consent, without, in each case, the written consent of all Lenders. No
provision of Sections 6.2.2 or 6.3 with
respect to the timing or application of mandatory prepayments of the Loans shall be amended,
modified or waived without the consent of Lenders having a majority of the aggregate Pro Rata
Shares of the Term Loan. No provision of Section 14 or other provision of this Agreement
affecting the Administrative Agent in its capacity as such shall be amended, modified or waived
without the consent of the Administrative Agent. No provision of this Agreement relating to the
rights or duties of the Issuing Lender in its capacity as such shall be amended, modified or waived
without the consent of the Issuing Lender. No provision of this Agreement relating to the rights
or duties of the Swing Line Lender in its capacity as such shall be amended, modified or waived
without the consent of the Swing Line Lender.

          15.2. Confirmations.

          Borrowers and each holder of a Note agree from time to time, upon the reasonable written
request received by it from the other, to confirm to the other in writing (with a copy of each such
confirmation to the Administrative Agent) the aggregate unpaid principal amount of the Loans then
outstanding under such Note.

          15.3. Notices.

          Except as otherwise provided in Sections 2.2.2 and 2.2.3, all notices
hereunder shall be in writing (including facsimile transmission) and shall be sent to the
applicable party at its address shown on Annex B or at such other address as such party
may, by written notice received by the other parties, have designated as its address for such
purpose. Notices sent by facsimile transmission shall be deemed to have been given when sent;
notices sent by mail shall be deemed to have been given three Business Days after the date when
sent by registered or certified mail, postage prepaid; and notices sent by hand delivery or
overnight courier service shall be deemed to have been given when received. For purposes of
Sections 2.2.2 and 2.2.3, the Administrative Agent shall be entitled to rely on
telephonic instructions from any person that the Administrative Agent in good faith believes is an
authorized officer or employee of any Borrower, and Borrowers shall hold the Administrative Agent
and each other Lender harmless from any loss, cost or expense resulting from any such reliance.

          15.4. Computations.

          Except as otherwise expressly provided in this Agreement, where the character or amount of any
asset or liability or item of income or expense is required to be determined, or any consolidation
or other accounting computation is required to be made, for the purpose of this Agreement, such
determination or calculation shall, to the extent applicable and except as otherwise specified in
this Agreement, be made on a consolidated basis for Holdings and its Subsidiaries in accordance
with GAAP, consistently applied; provided that if Borrower Representative notifies the
Administrative Agent that Borrowers wish to amend any covenant in Sections 10 or 11.13 (or any
related definition) to eliminate or to take into

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account the effect of any change in GAAP on the
operation of such covenant (or if the Administrative Agent notifies Borrower Representative that
the Required Lenders wish to amend Sections 10 or 11.13 (or any related definition) for such
purpose), then Borrowers’ compliance with such covenant shall be determined on the basis of GAAP in
effect immediately before the relevant change in GAAP became effective, until either such notice is
withdrawn or such covenant (or related definition) is amended in a manner satisfactory to
Borrowers and the Required Lenders. If a court of competent jurisdiction determines that any
financial statements delivered to Administrative Agent or Lenders pursuant to the terms of this
Agreement have not been prepared in accordance with GAAP and in a manner consistent with the
requirements of this Section 15.4, then, without limitation of any other rights and
remedies available to Administrative Agent and the Lenders in respect thereof, Administrative Agent
shall have the right, in its sole discretion, to (i) reassess, retroactively, compliance by
Borrowers with any and all covenants, agreements, conditions, representations and warranties set
forth herein that are based, in whole or in part, on the content of such financial statements
and/or (ii) recalculate, retroactively, interest payable by Borrowers hereunder. In the event that
any such recalculation of interest payable results in additional interest due and payable
hereunder, Borrowers shall pay such interest upon demand to Administrative Agent, together with
interest thereon at the highest rate provided for hereunder.

          15.5. Costs, Expenses and Taxes.

          Borrowers, jointly and severally, agree to pay on demand all reasonable out-of-pocket costs
and expenses of the Administrative Agent (including Attorney Costs and any Taxes) in connection
with the preparation, execution, syndication, delivery and administration (including perfection and
protection of any Collateral and the costs of Intralinks (or other similar service), if applicable)
of this Agreement, the other Loan Documents and all other documents provided for herein or
delivered or to be delivered hereunder or in connection herewith (including any amendment,
supplement or waiver to any Loan Document), whether or not the transactions contemplated hereby or
thereby shall be consummated, and all reasonable out-of-pocket costs and expenses (including
Attorney Costs and any Taxes) incurred by the Administrative Agent and each Lender following the
occurrence and during the continuance of an Event of Default in connection with the collection of
the Obligations or the enforcement of this Agreement the other Loan Documents or any such other
documents or during any workout, restructuring or negotiations in respect thereof (limited, in the
case of any workout, restructuring and related negotiations, to Attorney Costs for one external law
firm on behalf of all Lenders (other than Administrative Agent), as well as to all such Attorney
Costs incurred by Administrative Agent). In addition, Borrowers, jointly and severally, agree to
pay, and to save the Administrative Agent and the Lenders harmless from all liability for, any fees
of Borrowers’ auditors in connection with any reasonable exercise by the Administrative Agent and
the Lenders of their rights pursuant to Section 10.2 (limited to only those fees that are
reasonable, so long as no Event of Default is in existence at the time Administrative Agent or any
Lender exercises rights pursuant to Section 10.2). All Obligations provided for in this

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Section 15.5 shall survive repayment of the Loans, cancellation of the Notes, expiration or
termination of the Letters of Credit and termination of this Agreement.

          15.6. Assignments; Participations.

          15.6.1. Assignments.

          (a) Any Lender may at any time assign to one or more Persons (any such Person, an “Assignee”)
all or any portion of such Lender’s Loans and Commitments, with the
prior written consent of the Administrative Agent, the Issuing Lender (for an assignment of
the Revolving Loans and the Revolving Commitment) and, so long as no Event of Default exists,
Borrower Representative (which consents shall not be unreasonably withheld or delayed and shall not
be required (a) for an assignment by a Lender to a Lender or an Affiliate of a Lender and (b) from
Borrower Representative if an Event of Default is continuing). Except as the Administrative Agent
may otherwise agree, any such assignment shall be in a minimum aggregate amount equal to $5,000,000
(or, $1,000,000, in the case of the Term Loan) or, if less, the remaining Commitment and Loans held
by the assigning Lender. Borrowers and the Administrative Agent shall be entitled to continue to
deal solely and directly with such Lender in connection with the interests so assigned to an
Assignee until the Administrative Agent shall have received and accepted an effective assignment
agreement in substantially the form of Exhibit D hereto (an “Assignment Agreement”)
executed, delivered and fully completed by the applicable parties thereto and a processing fee of
$3,500. No assignment may be made to any Person if at the time of such assignment Borrowers would
be obligated to pay any greater amount under Sections 7.6 or 8 to the Assignee than
Borrowers are then obligated to pay to the assigning Lender under such Sections (and if any
assignment is made in violation of the foregoing, Borrowers will not be required to pay such
greater amounts). Any attempted assignment not made in accordance with this Section 15.6.1
shall be treated as the sale of a participation under Section 15.6.2. Borrower
Representative shall be deemed to have granted its consent to any assignment requiring its consent
hereunder unless Borrower Representative has expressly objected to such assignment within three
Business Days after notice thereof.

          (b) From and after the date on which the conditions described above have been met, (i) such
Assignee shall be deemed automatically to have become a party hereto and, to the extent that rights
and obligations hereunder have been assigned to such Assignee pursuant to such Assignment
Agreement, shall have the rights and obligations of a Lender hereunder and (ii) the assigning
Lender, to the extent that rights and obligations hereunder have been assigned by it pursuant to
such Assignment Agreement, shall be released from its rights (other than its indemnification
rights) and obligations hereunder. Upon the request of the Assignee (and, as applicable, the
assigning Lender) pursuant to an effective Assignment Agreement, Borrowers shall execute and
deliver to the Administrative Agent for delivery to the Assignee (and, as applicable, the assigning
Lender) a Note in the principal amount of the Assignee’s Pro Rata Share of the Revolving Commitment
plus the principal amount of the Assignee’s Term Loan (and, as applicable, a Note in the principal
amount of the Pro Rata Share of the Revolving Commitment retained by the assigning Lender plus the
principal amount of the Term Loan retained by the assigning Lender). Each such Note shall be dated

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the effective date of such assignment. Upon receipt by the assigning Lender of such Note, the
assigning Lender shall return to Borrowers any prior Note held by it.

          (c) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including any pledge or
assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any
such pledge or assignment of a security interest; provided that no such pledge or
assignment of a security interest shall release a Lender from any of its obligations hereunder or
substitute any such pledgee or assignee for such Lender as a party hereto.

          15.6.2. Participations.

          Any Lender may at any time sell to one or more Persons participating interests in its Loans,
Commitments or other interests hereunder (any such Person, a “Participant”). In the event of a
sale by a Lender of a participating interest to a Participant, (a) such Lender’s obligations
hereunder shall remain unchanged for all purposes, (b) Borrowers and the Administrative Agent shall
continue to deal solely and directly with such Lender in connection with such Lender’s rights and
obligations hereunder and (c) all amounts payable by Borrowers shall be determined as if such
Lender had not sold such participation and shall be paid directly to such Lender. No Participant
shall have any direct or indirect voting rights hereunder except with respect to any event
described in Section 15.1 expressly requiring the unanimous vote of all Lenders or, as
applicable, all affected Lenders. Each Lender agrees to incorporate the requirements of the
preceding sentence into each participation agreement which such Lender enters into with any
Participant. Borrowers agree that if amounts outstanding under this Agreement are due and payable
(as a result of acceleration or otherwise), each Participant shall be deemed to have the right of
set-off in respect of its participating interest in amounts owing under this Agreement and with
respect to any Letter of Credit to the same extent as if the amount of its participating interest
were owing directly to it as a Lender under this Agreement; provided that such right of
set-off shall be subject to the obligation of each Participant to share with the Lenders, and the
Lenders agree to share with each Participant, as provided in Section 7.5. Borrowers also
agree that each Participant shall be entitled to the benefits of Section 7.6 or 8
as if it were a Lender (provided that on the date of the participation no Participant shall
be entitled to any greater compensation pursuant to Section 7.6 or 8 than would
have been paid to the participating Lender on such date if no participation had been sold and that
each Participant complies with Section 7.6(d) as if it were an Assignee).

          15.7. Register.

          The Administrative Agent shall maintain a copy of each Assignment Agreement delivered and
accepted by it and register (the “Register”) for the recordation of names and addresses of the
Lenders and the Commitment of each Lender from time to time and whether such Lender is the original
Lender or the Assignee. No assignment shall be effective unless and until the Assignment Agreement
is accepted and registered in the Register. All records of transfer of a Lender’s interest in the
Register shall be conclusive,

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absent manifest error, as to the ownership of the interests in the
Loans. The Administrative Agent shall not incur any liability of any kind with respect to any
Lender with respect to the maintenance of the Register.

          15.8. GOVERNING LAW.

          THIS AGREEMENT AND EACH NOTE SHALL BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS
OF THE STATE OF ILLINOIS APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH
STATE, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES.

          15.9. Confidentiality.

          As required by federal law and the Administrative Agent’s policies and practices, the
Administrative Agent may need to obtain, verify, and record certain customer identification
information and documentation in connection with opening or maintaining accounts, or establishing
or continuing to provide services. The Administrative Agent and each Lender agree to use
commercially reasonable efforts (equivalent to the efforts the Administrative Agent or such Lender
applies to maintain the confidentiality of its own confidential information) to maintain as
confidential all information provided to them by any Loan Party and designated as confidential,
except that the Administrative Agent and each Lender may disclose such information (a) to Persons
employed or engaged by the Administrative Agent or such Lender in evaluating, approving,
structuring or administering the Loans and the Commitments; (b) to any assignee or participant or
potential assignee or participant that has agreed to comply with the covenant contained in this
Section 15.9 (and any such assignee or participant or potential assignee or participant may
disclose such information to Persons employed or engaged by them as described in clause (a) above);
(c) as required or requested by any federal or state regulatory authority or examiner, or any
insurance industry association, or as reasonably believed by the Administrative Agent or such
Lender to be compelled by any court decree, subpoena or legal or administrative order or process;
(d) as, on the advice of the Administrative Agent’s or such Lender’s counsel, is required by law;
(e) in connection with the exercise of any right or remedy under the Loan Documents or in
connection with any litigation to which the Administrative Agent or such Lender is a party; (f) to
any nationally recognized rating agency that requires access to information about a Lender’s
investment portfolio in connection with ratings issued with respect to such Lender; (g) to any
Affiliate of the Administrative Agent, the Issuing Lender or any other Lender who may provide Bank
Products to the Loan Parties; or (h) that ceases to be confidential through no fault of the
Administrative Agent or any Lender. Notwithstanding the foregoing, Borrowers consent to the
publication by the Administrative Agent or any Lender of a tombstone or similar advertising
material relating to the financing transactions contemplated by this Agreement, and the
Administrative Agent reserves the right to provide to industry trade organizations information
necessary and customary for inclusion in league table measurements.

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          15.10. Severability.

          Whenever possible each provision of this Agreement shall be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Agreement shall be
prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of
such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Agreement. All obligations of Borrowers and rights of the
Administrative Agent and the Lenders expressed herein or in any other Loan Document shall be in
addition to and not in limitation of those provided by applicable law.

          15.11. Nature of Remedies.

          All Obligations of Borrowers and rights of the Administrative Agent and the Lenders expressed
herein or in any other Loan Document shall be in addition to and not in
limitation of those provided by applicable law. No failure to exercise and no delay in
exercising, on the part of the Administrative Agent or any Lender, any right, remedy, power or
privilege hereunder, shall operate as a waiver thereof; nor shall any single or partial exercise of
any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or
the exercise of any other right, remedy, power or privilege.

          15.12. Entire Agreement.

          This Agreement, together with the other Loan Documents, embodies the entire agreement and
understanding among the parties hereto and supersedes all prior or contemporaneous agreements and
understandings of such Persons, verbal or written, relating to the subject matter hereof and
thereof (except as relates to the fees described in Section 5.3) and any prior arrangements
made with respect to the payment by Borrowers of (or any indemnification for) any fees, costs or
expenses payable to or incurred (or to be incurred) by or on behalf of the Administrative Agent or
the Lenders.

          15.13. Counterparts.

          This Agreement may be executed in any number of counterparts and by the different parties
hereto on separate counterparts and each such counterpart shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same Agreement. Receipt of an
executed signature page to this Agreement by facsimile or other electronic transmission shall
constitute effective delivery thereof. Electronic records of executed Loan Documents maintained by
the Lenders shall deemed to be originals.

          15.14. Successors and Assigns.

          This Agreement shall be binding upon Borrowers, the Lenders and the Administrative Agent and
their respective successors and assigns, and shall inure to the benefit of Borrowers, the Lenders
and the Administrative Agent and the successors and assigns of the Lenders and the Administrative
Agent. No other Person shall be a direct or indirect legal beneficiary of, or have any direct or
indirect cause of action or claim in

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connection with, this Agreement or any of the other Loan
Documents. Borrowers may not assign or transfer any of their rights or Obligations under this
Agreement without the prior written consent of the Administrative Agent and each Lender.

          15.15. Captions.

          Section captions used in this Agreement are for convenience only and shall not affect the
construction of this Agreement.

          15.16. Customer Identification — USA Patriot Act Notice. 

          Each Lender and LaSalle (for itself and not on behalf of any other party) hereby notifies the
Loan Parties that, pursuant to the requirements of the USA Patriot Act, Title III of Pub. L.
107-56, signed into law October 26, 2001 (the “Act”), it is required to obtain, verify and record
information that identifies the Loan Parties, which information includes the name and address of
the Loan Parties and other information that will allow such Lender or LaSalle, as applicable, to
identify the Loan Parties in accordance with the Act.

          15.17. INDEMNIFICATION BY BORROWERS.

          IN CONSIDERATION OF THE EXECUTION AND DELIVERY OF THIS AGREEMENT BY THE ADMINISTRATIVE AGENT
AND THE LENDERS AND THE AGREEMENT TO EXTEND THE COMMITMENTS PROVIDED HEREUNDER, BORROWERS HEREBY,
JOINTLY AND SEVERALLY, AGREE TO INDEMNIFY, EXONERATE AND HOLD THE ADMINISTRATIVE AGENT, EACH LENDER
AND EACH OF THE OFFICERS, DIRECTORS, EMPLOYEES, AFFILIATES AND AGENTS OF THE ADMINISTRATIVE AGENT
AND EACH LENDER (EACH A “LENDER PARTY”) FREE AND HARMLESS FROM AND AGAINST ANY AND ALL ACTIONS,
CAUSES OF ACTION, SUITS, LOSSES, LIABILITIES, DAMAGES AND EXPENSES, INCLUDING ATTORNEY COSTS
(COLLECTIVELY, THE “INDEMNIFIED LIABILITIES”), INCURRED BY THE LENDER PARTIES OR ANY OF THEM AS A
RESULT OF, OR ARISING OUT OF, OR RELATING TO (A) ANY TENDER OFFER, MERGER, PURCHASE OF CAPITAL
SECURITIES, PURCHASE OF ASSETS (INCLUDING THE RELATED TRANSACTIONS) OR OTHER SIMILAR TRANSACTION
FINANCED OR PROPOSED TO BE FINANCED IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, WITH THE PROCEEDS
OF ANY OF THE LOANS, (B) THE USE, HANDLING, RELEASE, EMISSION, DISCHARGE, TRANSPORTATION, STORAGE,
TREATMENT OR DISPOSAL OF ANY HAZARDOUS SUBSTANCE AT ANY PROPERTY OWNED OR LEASED BY ANY LOAN PARTY,
(C) ANY VIOLATION OF ANY ENVIRONMENTAL LAWS WITH RESPECT TO CONDITIONS AT ANY PROPERTY OWNED OR
LEASED BY ANY LOAN PARTY OR THE OPERATIONS CONDUCTED THEREON, (D) THE INVESTIGATION, CLEANUP OR
REMEDIATION OF OFFSITE LOCATIONS AT WHICH ANY LOAN PARTY OR THEIR RESPECTIVE PREDECESSORS ARE
ALLEGED TO HAVE DIRECTLY OR INDIRECTLY DISPOSED OF HAZARDOUS SUBSTANCES

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OR (E) THE EXECUTION, DELIVERY, PERFORMANCE OR ENFORCEMENT OF THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT BY ANY OF THE
LENDER PARTIES, EXCEPT FOR ANY SUCH INDEMNIFIED LIABILITIES ARISING ON ACCOUNT OF THE APPLICABLE
LENDER PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT AS DETERMINED BY A FINAL, NONAPPEALABLE
JUDGMENT BY A COURT OF COMPETENT JURISDICTION. IF AND TO THE EXTENT THAT THE FOREGOING UNDERTAKING
MAY BE UNENFORCEABLE FOR ANY REASON, BORROWERS HEREBY, JOINTLY AND SEVERALLY, AGREE TO MAKE THE
MAXIMUM CONTRIBUTION TO THE PAYMENT AND SATISFACTION OF EACH OF THE INDEMNIFIED LIABILITIES WHICH
IS PERMISSIBLE UNDER APPLICABLE LAW. ALL OBLIGATIONS PROVIDED FOR IN THIS       SECTION 15.17
SHALL SURVIVE REPAYMENT OF THE LOANS, CANCELLATION OF THE NOTES, EXPIRATION OR TERMINATION OF THE
LETTERS OF CREDIT, ANY FORECLOSURE UNDER, OR ANY MODIFICATION, RELEASE OR DISCHARGE OF, ANY OR ALL
OF THE COLLATERAL DOCUMENTS AND TERMINATION OF THIS AGREEMENT.

          15.18. Nonliability of Lenders.

          The relationship between Borrowers on the one hand and the Lenders and the Administrative
Agent on the other hand shall be solely that of borrower and lender. Neither the Administrative
Agent nor any Lender has any fiduciary relationship with or duty to any Loan Party arising out of
or in connection with this Agreement or any of the other Loan Documents, and the relationship
between the Loan Parties, on the one hand, and the Administrative Agent and the Lenders, on the
other hand, in connection herewith or therewith is solely that of debtor and creditor. Neither the
Administrative Agent nor any Lender undertakes any responsibility to any Loan Party to review or
inform any Loan Party of any matter in connection with any phase of any Loan Party’s business or
operations. Borrowers agree, on behalf of themselves and each other Loan Party, that neither the
Administrative Agent nor any Lender shall have liability to any Loan Party (whether sounding in
tort, contract or otherwise) for losses suffered by any Loan Party in connection with, arising out
of, or in any way related to the transactions contemplated and the relationship established by the
Loan Documents, or any act, omission or event occurring in connection therewith, unless it is
determined in a final non-appealable judgment by a court of competent jurisdiction that such losses
resulted from the gross negligence or willful misconduct of the party from which recovery is
sought. NO LENDER PARTY SHALL BE LIABLE FOR ANY DAMAGES ARISING FROM THE USE BY OTHERS OF ANY
INFORMATION OR OTHER MATERIALS OBTAINED THROUGH INTRALINKS OR OTHER SIMILAR INFORMATION
TRANSMISSION SYSTEMS IN CONNECTION WITH THIS AGREEMENT, NOR SHALL ANY LENDER PARTY HAVE ANY
LIABILITY WITH RESPECT TO, AND BORROWERS ON BEHALF OF THEMSELVES AND EACH OTHER LOAN PARTY, HEREBY
WAIVE, RELEASE AND AGREE NOT TO SUE FOR ANY SPECIAL, PUNITIVE, EXEMPLARY, INDIRECT OR CONSEQUENTIAL
DAMAGES RELATING TO

-96-

 

THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR ARISING OUT OF ITS ACTIVITIES IN
CONNECTION HEREWITH OR THEREWITH (WHETHER BEFORE OR AFTER THE CLOSING DATE). Borrowers acknowledge
that they have been advised by counsel in the negotiation, execution and delivery of this Agreement
and the other Loan Documents to which it is a party. No joint venture is created hereby or by the
other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby among
the Lenders or among the Loan Parties and the Lenders

          15.19. FORUM SELECTION AND CONSENT TO JURISDICTION.

          ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH THIS AGREEMENT OR
ANY OTHER LOAN DOCUMENT, SHALL BE BROUGHT AND MAINTAINED EXCLUSIVELY IN THE COURTS OF THE STATE OF
ILLINOIS OR IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS;
PROVIDED THAT NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE THE
ADMINISTRATIVE AGENT FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION.
BORROWERS HEREBY EXPRESSLY AND IRREVOCABLY SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF
ILLINOIS AND OF THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF
ILLINOIS FOR THE PURPOSE OF ANY SUCH LITIGATION AS SET FORTH ABOVE. BORROWERS FURTHER
IRREVOCABLY CONSENT TO THE SERVICE OF PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, OR BY PERSONAL
SERVICE WITHIN OR WITHOUT THE STATE OF ILLINOIS. BORROWERS HEREBY EXPRESSLY AND IRREVOCABLY WAIVE,
TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH THEY MAY NOW OR HEREAFTER HAVE TO THE
LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM
THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

          15.20. WAIVER OF JURY TRIAL.

          EACH OF BORROWERS, THE ADMINISTRATIVE AGENT AND EACH LENDER HEREBY WAIVES ANY RIGHT TO A TRIAL
BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT, ANY NOTE,
ANY OTHER LOAN DOCUMENT AND ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY
IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH OR ARISING FROM ANY LENDING
RELATIONSHIP EXISTING IN CONNECTION WITH ANY OF THE FOREGOING, AND AGREES THAT ANY SUCH ACTION OR
PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

[signature pages follow]

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          The parties hereto have caused this Agreement to be duly executed and delivered by their duly
authorized officers as of the date first set forth above.

	 	 	 	 	 
	 	ROADRUNNER DAWES FREIGHT SYSTEMS, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Title: VP 	 
	 	 	 	 
	 
	 	SARGENT TRUCKING, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Title: VP 	 
	 	 	 	 
	 
	 	BIG ROCK TRANSPORTATION, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Title: VP 	 
	 	 	 	 
	 
	 	MIDWEST CARRIERS, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Title: VP 	 
	 	 	 	 
	 
	 	SMITH TRUCK BROKERS, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Title: VP 	 
	 	 	 	 
	 
	 	B&J TRANSPORTATION, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Title: VP 	 
	 	 	 	 

 

 

	 	 	 	 	 
	 	LASALLE BANK NATIONAL ASSOCIATION, as
Administrative Agent, as Issuing Lender
and as a Lender
 	 
	 	By:  	/s/ Kathleen Ross 	 
	 	 	Title: Senior Vice President 	 
	 	 	 	 
	 
	 	DE MEER MIDDLE MARKET CLO 2006-1, LTD., 

as a Lender
 	 
	 	By:  	DE MEER ASSET MANAGEMENT, a
division of LaSalle Financial Services Inc., as Collateral Manager 	 
	 
	 	 	 
	 	By:  	                /s/ Authorized Signatory 	 
	 	 	Title: Senior Vice President 	 
	 	 	 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION, as a Lender
 	 
	 	By:  	/s/ Robert A. Rosati 	 
	 	 	Title: Senior Vice President 	 
	 	 	Robert A. Rosati 	 
	 
	 	M&I MARSHALL & ILSLEY BANK, as a
Lender
 	 
	 	By:  	/s/ Authorized Signatory 	 
	 	 	Title: Vice President 	 
	 
	 	By:  	/s/ Vic Kearney 	 
	 	 	Title: Vice Presidentexv10w2

Exhibit 10.2

AMENDED AND RESTATED

NOTES PURCHASE AGREEMENT

Dated as of March 14, 2007

Among

SARGENT TRUCKING, INC.,

BIG ROCK TRANSPORTATION, INC.,

MIDWEST CARRIERS, INC.,

SMITH TRUCK BROKERS, INC.,

B&J TRANSPORTATION, INC.,

and

ROADRUNNER DAWES FREIGHT SYSTEMS, INC.

as Issuers of the Notes,

ROADRUNNER DAWES, INC.

and

SARGENT TRANSPORTATION, LLC

as Guarantors of the Issuers,

and

THE PURCHASERS LISTED HEREIN

 

SENIOR SUBORDINATED NOTES DUE AUGUST 31, 2012

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	ARTICLE 1 DEFINITIONS
	 	 	2	 
	 
	 	1.1.	 	Certain Defined Terms	 	 	2	 
	 
	 	1.2.	 	Accounting Terms	 	 	2	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 2 PURCHASE AND SALE OF THE NOTES
	 	 	3	 
	 
	 	2.1.	 	Purchase and Sale of the Notes	 	 	3	 
	 
	 	2.2.	 	Purchase Price for Notes; Allocation of Purchase Price	 	 	3	 
	 
	 	2.3.	 	The Closing	 	 	3	 
	 
	 	2.4.	 	Payment of Purchase Price	 	 	3	 
	 
	 	2.5.	 	Payment of Fee	 	 	3	 
	 
	 	2.6.	 	Use of Proceeds	 	 	3	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 3 TERMS OF THE NOTES
	 	 	4	 
	 
	 	3.1.	 	Interest on the Notes	 	 	4	 
	 
	 	3.2.	 	Payment of Notes	 	 	5	 
	 
	 	3.3.	 	Prepayment Procedures	 	 	8	 
	 
	 	3.4.	 	Taxes	 	 	9	 
	 
	 	3.5.	 	Manner and Time of Payment	 	 	10	 
	 
	 	3.6.	 	Note Obligations Joint and Several	 	 	11	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF PURCHASERS
	 	 	11	 
	 
	 	4.1.	 	Legal Capacity; Due Authorization	 	 	11	 
	 
	 	4.2.	 	Restrictions on Transfer	 	 	11	 
	 
	 	4.3.	 	Accredited Investor, etc.	 	 	12	 
	 
	 	4.4.	 	Brokerage Fees, etc.	 	 	12	 
	 
	 	4.5.	 	No Advertisement	 	 	12	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF THE ISSUERS
	 	 	12	 
	 
	 	5.1.	 	Organization	 	 	12	 
	 
	 	5.2.	 	Capitalization	 	 	12	 
	 
	 	5.3.	 	Authorization; No Conflict	 	 	13	 
	 
	 	5.4.	 	Validity and Binding Nature	 	 	13	 
	 
	 	5.5.	 	Valid Issuance of the Notes	 	 	13	 

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	 	5.6.	 	Financial Condition	 	 	13	 
	 
	 	5.7.	 	Consents	 	 	14	 
	 
	 	5.8.	 	No Material Adverse Change	 	 	14	 
	 
	 	5.9.	 	Litigation and Contingent Obligations	 	 	14	 
	 
	 	5.10.	 	Ownership of Properties; Liens	 	 	14	 
	 
	 	5.11.	 	Pension Plans	 	 	14	 
	 
	 	5.12.	 	Investment Issuers Act	 	 	15	 
	 
	 	5.13.	 	Public Utility Holding Issuers Act	 	 	15	 
	 
	 	5.14.	 	Regulation U	 	 	15	 
	 
	 	5.15.	 	Taxes	 	 	15	 
	 
	 	5.16.	 	Solvency	 	 	16	 
	 
	 	5.17.	 	Environmental Matters	 	 	16	 
	 
	 	5.18.	 	Insurance	 	 	16	 
	 
	 	5.19.	 	Real Property	 	 	17	 
	 
	 	5.20.	 	Information	 	 	17	 
	 
	 	5.21.	 	Intellectual Property	 	 	17	 
	 
	 	5.22.	 	Burdensome Obligations	 	 	17	 
	 
	 	5.23.	 	Labor Matters	 	 	17	 
	 
	 	5.24.	 	No Default	 	 	17	 
	 
	 	5.25.	 	Related Agreements	 	 	17	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 6 CLOSING CONDITIONS
	 	 	18	 
	 
	 	6.1.	 	Representations and Warranties; No Default	 	 	18	 
	 
	 	6.2.	 	Documents Satisfactory; Transactions Consummated	 	 	19	 
	 
	 	6.3.	 	Delivery of Documents	 	 	19	 
	 
	 	6.4.	 	Due Diligence	 	 	20	 
	 
	 	6.5.	 	Corporate/Capital Structure	 	 	20	 
	 
	 	6.6.	 	Authorizations, Consents and Approvals	 	 	21	 
	 
	 	6.7.	 	Audited Financial Statements	 	 	21	 
	 
	 	6.8.	 	Litigation	 	 	21	 
	 
	 	6.9.	 	Other Fees and Expenses	 	 	21	 
	 
	 	6.10.	 	No Violation of Regulations T, U or X	 	 	21	 
	 
	 	6.11.	 	Existing Indebtedness	 	 	21	 

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	 	6.12.	 	Consummation of the Merger Resulting in Parent	 	 	21	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 7 NOTE AFFIRMATIVE COVENANTS
	 	 	22	 
	 
	 	7.1.	 	Payment of Obligations	 	 	22	 
	 
	 	7.2.	 	Financial Statements	 	 	22	 
	 
	 	7.3.	 	Certificates; Other Information	 	 	23	 
	 
	 	7.4.	 	Notices	 	 	24	 
	 
	 	7.5.	 	Preservation of Corporate
Existence, Etc.	 	 	26	 
	 
	 	7.6.	 	Maintenance of Property	 	 	26	 
	 
	 	7.7.	 	Insurance	 	 	27	 
	 
	 	7.8.	 	Payment of Obligations	 	 	27	 
	 
	 	7.9.	 	Compliance with Laws	 	 	28	 
	 
	 	7.10.	 	Inspection of Property and Books and Records	 	 	28	 
	 
	 	7.11.	 	Use of Proceeds	 	 	28	 
	 
	 	7.12.	 	Solvency	 	 	29	 
	 
	 	7.13.	 	Further Assurances	 	 	29	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 8 NOTE NEGATIVE COVENANTS
	 	 	29	 
	 
	 	8.1.	 	Limitation on Liens	 	 	29	 
	 
	 	8.2.	 	Disposition of Assets	 	 	31	 
	 
	 	8.3.	 	Consolidations and Mergers	 	 	32	 
	 
	 	8.4.	 	Loans and Investments	 	 	32	 
	 
	 	8.5.	 	Limitation on Indebtedness	 	 	34	 
	 
	 	8.6.	 	Transactions with Affiliates	 	 	35	 
	 
	 	8.7.	 	Management Fees and Compensation	 	 	36	 
	 
	 	8.8.	 	Use of Proceeds	 	 	36	 
	 
	 	8.9.	 	Contingent Obligations	 	 	36	 
	 
	 	8.10.	 	Business Activities; Issuance of Equity; Subsidiaries	 	 	37	 
	 
	 	8.11.	 	Compliance with ERISA	 	 	37	 
	 
	 	8.12.	 	Restricted Payments	 	 	38	 
	 
	 	8.13.	 	Change in Business	 	 	39	 
	 
	 	8.14.	 	Change in Structure	 	 	39	 
	 
	 	8.15.	 	Accounting Changes	 	 	39	 
	 
	 	8.16.	 	No Negative Pledges	 	 	39	 

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	 	8.17.	 	OFAC	 	 	40	 
	 
	 	8.18.	 	Limitation on Activities of Parent	 	 	40	 
	 
	 	8.19.	 	Antilayering	 	 	40	 
	 
	 	8.20.	 	Amendment of Material Documents	 	 	40	 
	 
	 	8.21.	 	Observer Rights	 	 	40	 
	 
	 	8.22.	 	Fiscal Year	 	 	41	 
	 
	 	8.23.	 	Unconditional Purchase Obligations	 	 	41	 
	 
	 	8.24.	 	Additional Covenants	 	 	41	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 9 NOTE FINANCIAL COVENANTS
	 	 	41	 
	 
	 	9.1.	 	Leverage Ratio	 	 	41	 
	 
	 	9.2.	 	Fixed Charge Coverage Ratio	 	 	42	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 10 EVENTS OF DEFAULT
	 	 	43	 
	 
	 	10.1.	 	Payment Default	 	 	43	 
	 
	 	10.2.	 	Default Under Senior Indebtedness	 	 	43	 
	 
	 	10.3.	 	Default Under Other Indebtedness	 	 	43	 
	 
	 	10.4.	 	Certain Covenants	 	 	44	 
	 
	 	10.5.	 	Other Defaults	 	 	44	 
	 
	 	10.6.	 	Breach of Representations or Warranties	 	 	44	 
	 
	 	10.7.	 	Involuntary Bankruptcy, Appointment
of Receiver, etc.	 	 	44	 
	 
	 	10.8.	 	Voluntary Bankruptcy, Appointment
of Receiver, etc.	 	 	44	 
	 
	 	10.9.	 	Judgments and Attachments	 	 	45	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 11 GUARANTEE
	 	 	45	 
	 
	 	11.1.	 	Guarantee of Note Obligations	 	 	45	 
	 
	 	11.2.	 	Continuing Obligation	 	 	46	 
	 
	 	11.3.	 	Waivers with Respect to Note Obligations	 	 	46	 
	 
	 	11.4.	 	Noteholders’ Power to Waive,
etc.	 	 	47	 
	 
	 	11.5.	 	Information Regarding the Issuers,
etc.	 	 	48	 
	 
	 	11.6.	 	Certain Guarantor Representations	 	 	48	 
	 
	 	11.7.	 	Subrogation	 	 	49	 
	 
	 	11.8.	 	Subordination	 	 	49	 
	 
	 	11.9.	 	Contribution Among Guarantors	 	 	50	 

-iv-

 

	 	 	 	 	 	 	 	 	 
	ARTICLE 12 RESTRICTIONS ON TRANSFER; LEGENDS
	 	 	50	 
	 
	 	12.1.	 	Assignments	 	 	50	 
	 
	 	12.2.	 	Restrictive Notes Legend	 	 	52	 
	 
	 	12.3.	 	Termination of Restrictions	 	 	52	 
	 
	 	12.4.	 	Other Note Legends	 	 	52	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 13 MISCELLANEOUS
	 	 	53	 
	 
	 	13.1.	 	Expenses	 	 	53	 
	 
	 	13.2.	 	Indemnity	 	 	54	 
	 
	 	13.3.	 	Right of First Offer	 	 	55	 
	 
	 	13.4.	 	Amendments and Waivers	 	 	55	 
	 
	 	13.5.	 	Independence of Covenants	 	 	55	 
	 
	 	13.6.	 	Notices	 	 	55	 
	 
	 	13.7.	 	Survival of Warranties and Certain Agreements	 	 	57	 
	 
	 	13.8.	 	Failure or Indulgence Not Waiver; Remedies Cumulative	 	 	57	 
	 
	 	13.9.	 	Severability	 	 	57	 
	 
	 	13.10.	 	Heading	 	 	58	 
	 
	 	13.11.	 	Applicable Law	 	 	58	 
	 
	 	13.12.	 	Successors and Assigns; Subsequent Holders	 	 	58	 
	 
	 	13.13.	 	Consent to Jurisdiction and Service of Process	 	 	58	 
	 
	 	13.14.	 	Waiver of Jury Trial	 	 	58	 
	 
	 	13.15.	 	Counterparts; Effectiveness	 	 	59	 
	 
	 	13.16.	 	Confidentiality	 	 	59	 
	 
	 	13.17.	 	Entirety	 	 	59	 

-v-

 

AMENDED AND RESTATED

NOTES PURCHASE AGREEMENT

     This AMENDED AND RESTATED NOTES PURCHASE AGREEMENT is dated as of March 14, 2007 by and among
Roadrunner Dawes Freight Systems, Inc., a Delaware corporation (“Roadrunner”), Sargent
Trucking, Inc., a Maine corporation (“Sargent Truck”), Big Rock Transportation, Inc., an
Indiana corporation (“Big Rock”), Midwest Carriers, Inc., an Indiana corporation
(“Midwest”), Smith Truck Brokers, Inc., a Maine corporation (“Smith Truck”) and B&J
Transportation, Inc., a Maine corporation (“B&J”; Sargent Truck, Big Rock, Midwest, Smith
Truck and B&J each a “Sargent Company” and collectively the “Sargent Companies”;
the Sargent Companies and Roadrunner each an “Issuer” and collectively the
“Issuers”), Sargent Transportation, LLC, a Delaware limited liability company (“Sargent
LLC”), Roadrunner Dawes, Inc., a Delaware corporation, (“Parent” and together with
Sargent LLC, the “Guarantors”) and each person listed as a purchaser on Schedule I attached
hereto (the “Purchasers”).

RECITALS

     WHEREAS, prior to the execution of this Agreement, Sargent LLC was a wholly-owned subsidiary
of Parent;

     WHEREAS, prior to the execution of this Agreement, Sargent LLC merged with and into Sargent
Transporation Group, Inc., a Delaware corporation and sole direct shareholder of each of the
Sargent Companies (“Sargent Inc.”), with Sargent LLC being the surviving entity of such
merger (the “Merger”);

     WHEREAS, the Merger was consummated pursuant to an Agreement and Plan of Merger dated as of
March 14, 2007 among Parent, Sargent Inc. and Sargent LLC (the “Merger Agreement”)

     WHEREAS, the Parent, Sargent LLC and Roadrunner desire to refinance certain existing
subordinated indebtedness of Roadrunner to the Purchasers by issuing and selling to the Purchasers,
and the Purchasers have agreed to purchase pursuant to this Agreement, Senior Subordinated Notes of
the Issuers due August 31, 2012 (the “Notes”) in the aggregate principal amount of
$36,442,156.79, in the form attached hereto as Exhibit A;

     WHEREAS, after the Merger, the Parent owns all the outstanding common stock of Roadrunner and
is the sole member of Sargent LLC;

     WHEREAS, the Guarantors have agreed to guarantee the Note Obligations on the terms and
conditions specified hereunder;

     WHEREAS, contemporaneously with the Merger and this Agreement, the Issuers are entering into a
Second Amended and Restated Credit Agreement of even date herewith (as amended, modified or
supplemented from time to time, the “Senior Credit Agreement”), by and among the Issuers,
LaSalle Bank, N.A., for itself as a lender and as agent for all of the lenders (the
“Agent”);

 

 

     WHEREAS, the Purchasers and the Agent will enter into a subordination agreement (as amended,
modified or supplemented from time to time, the “Subordination Agreement”), in
substantially the form of Exhibit B;

     WHEREAS, contemporaneously with this Agreement, the Purchasers will enter into a Sargent
Earn-out Subordination Agreement with each of Bruce Sargent and Michael Tweedie;

     WHEREAS, contemporaneously with this Agreement, the Parent, the Purchasers and certain other
stockholders of the Parent are entering into an amended and restated stockholders agreement of even
date herewith (as amended, modified or supplemented from time to time, the “Stockholders
Agreement”), in substantially the form of Exhibit C; and

     WHEREAS, the purchase and sale of the Notes to be acquired by the Purchasers will occur at a
closing (the “Closing”) to be held on March 14, 2007, at 10:00 a.m. (Chicago time) or at
such other date, time and/or location as may be agreed upon by the parties hereto, subject to the
terms and conditions hereof, including, without limitation, the simultaneous execution of the
Senior Credit Agreement, the Subordination Agreement and the Stockholders Agreement.

AGREEMENT

     In consideration of the foregoing, and the representations, warranties, covenants and
conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as
follows:

ARTICLE 1

DEFINITIONS

     1.1. Certain Defined Terms. Capitalized terms used in this Agreement shall have the
meanings set forth in Appendix I hereto. Except as otherwise explicitly specified to the contrary
or unless the context clearly requires otherwise, (a) the capitalized term “Section” refers to
Sections of this Agreement, (b) the capitalized term “Exhibit” refers to exhibits to this
Agreement, (c) references to a particular Section include all subsections thereof, (d) the word
“including” shall be construed as “including without limitation”, (e) references to a particular
statute or regulation include all rules and regulations thereunder and any successor statute,
regulation or rules, in each case as from time to time in effect, (f) references to a particular
Person include such Person’s successors and assigns to the extent not prohibited by this Agreement
and (g) references to “Dollars” or “$” mean United States Funds. References to “the date hereof”
mean the date first set forth above.

     1.2. Accounting Terms. Unless the context otherwise clearly requires, all accounting
terms not specifically defined herein shall be construed, all accounting determinations hereunder
shall be made and all financial computations required to be delivered pursuant hereto shall be
prepared, in accordance with GAAP consistent with the method used in compiling the audited
financial statements presented to the Purchasers as of the date hereof. If any change in GAAP
following the day hereof results in a change in the calculation of the financial covenants or
interpretation of related provisions of this Agreement, then the Issuers and the Required Security
Holders agree to amend such provisions of this Agreement so as to equitably reflect such changes in
GAAP with the desired result that the criteria for evaluating the Issuers’ financial

-2-

 

condition shall be the same after such change in GAAP as if such change had not been made,
provided that, notwithstanding any other provision of this Agreement, the Required Security
Holders’ agreement to any amendment of such provisions shall be sufficient to bind all Noteholders;
and, provided further, until such time as the financial covenants and the related provisions of
this Agreement have been amended in accordance with the provisions of this Section 1.2, the
calculations of financial covenants and the interpretation of any related provisions shall be
calculated and interpreted in accordance with GAAP as in effect immediately prior to such change in
GAAP.

ARTICLE 2

PURCHASE AND SALE OF THE NOTES

     2.1. Purchase and Sale of the Notes. Subject to the terms and conditions of this
Agreement and on the basis of the representations and warranties set forth herein, the Issuers
hereby agree to sell to each Purchaser, and by its acceptance hereof, each such Purchaser agrees to
purchase from the Issuers for investment, at the Closing, the principal amount of Notes set forth
opposite the name of such Purchaser on Schedule I hereto for the aggregate purchase price set forth
thereon.

     2.2. Purchase Price for Notes; Allocation of Purchase Price. The Issuers and the
Purchasers agree that the original purchase price of each of the Notes shall be the face amount
thereof and that such amount shall be appropriately used by the Issuers and each Purchaser for
financial and income tax reporting purposes.

     2.3. The Closing. The purchase and sale of the Notes to be acquired by the Purchasers
shall be contemporaneous with the execution of the Senior Credit Agreement.

     2.4. Payment of Purchase Price. At the Closing, against surrender to the Issuers by
the Purchasers of the Existing Notes, the Issuers will deliver the Notes registered in the names of
the Purchasers in accordance with Schedule I; provided that, with respect to the Closing,
it shall be a condition precedent to the obligations of each Purchaser to consummate the purchase
and sale of the Notes hereunder that the purchase price for all of the Notes to be purchased at the
Closing shall be fully funded by the respective Purchasers.

     2.5. Payment of Fee. At the Closing, the Issuers shall pay each of the Purchasers
such Purchaser’s pro-rata share of a closing fee of $90,650.

     2.6. Use of Proceeds. The proceeds of the sale by the Issuers of the Notes hereunder
shall be used solely to retire the Existing Notes. No portion of the proceeds of the sale of the
Notes hereunder shall be used, directly or indirectly, for the purpose, whether immediate,
incidental or ultimate, of buying or carrying any “margin stock” within the meaning of any
regulation, interpretation or ruling of the Board of Governors of the Federal Reserve System, all
as from time to time in effect, refunding of any indebtedness incurred for such purpose, or making
any investment prohibited by foreign trade regulations. Without limiting the foregoing, the
Issuers agree that in no event shall any proceeds of the sale of the Notes hereunder be used in any
manner which might cause the Notes or the application of such proceeds to violate any of
Regulations T, U or X of the Board of Governors of the Federal Reserve System or any other

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regulation of the Board of Governors of the Federal Reserve System, or to violate the Exchange
Act, each as in effect as of the Closing and as of such use of proceeds.

ARTICLE 3

TERMS OF THE NOTES

     3.1. Interest on the Notes. From and including the Closing Date, the Notes shall bear
interest at a rate equal to the Applicable Rate per annum on the unpaid principal
amount thereof. After and during the continuance of any Event of Default, at the election of the
Required Security Holders evidenced by written notice to the Issuers (and automatically without
notice in the case of an Event of Default under Sections 10.7 and 10.8), the Notes shall bear
interest at the rate then in effect plus 2% per annum, including, in the event of a
payment default, on any overdue principal (including any overdue prepayment of principal, at the
prepayment price specified for such prepayment, and any principal due upon acceleration) and on any
overdue installment of interest (to the extent permitted by applicable law).

     3.1.1. Interest on the Notes shall be payable in cash on the first calendar day of each
of April, July, October and January, or if such calendar day is not a Business Day, on the
next succeeding Business Day, commencing on April 1, 2007; provided, that (subject
to Section 3.1.4) the Issuers may pay a portion of the interest not to exceed the PIK
Percentage per annum by capitalizing on the applicable interest payment date
such portion of such interest (all such accrued interest capitalized from time to time is
referred to herein as “Capitalized Interest”) and by adding such Capitalized
Interest to the principal amount of the applicable Note; provided, that any such
payment of interest through capitalizing it shall be effected on a pro rata
basis with respect to all Notes.

     3.1.2. Capitalized Interest on any Note shall be deemed for all purposes to be
principal of such Note (including with respect to the calculation of any prepayment premium
and with respect to the accrual of interest on any Capitalized Interest amounts), whether or
not such Note is marked to indicate the addition of such Capitalized Interest, and interest
shall begin to accrue on Capitalized Interest beginning on and including the interest
payment date on which such Capitalized Interest is added to the principal amount of the
related Note (including Capitalized Interest), and such interest shall accrue and be paid,
together with the interest on the entire remaining principal amount of such Note, in
accordance with this Section 3.1.

     3.1.3. Notwithstanding anything to the contrary in this Agreement, if the aggregate
amount of accrued and unpaid interest (including Capitalized Interest) and all accrued and
unpaid original issue discount on any interest payment date following the fifth anniversary
of the issuance of the Notes (the first such date being March 31, 2012) would, but for this
provision, exceed an amount equal to the product of:

     3.1.3.1. the issue price (as defined in sections 1273(b) and 1274(a) of the
Code) of the Notes; and

     3.1.3.2. the yield to maturity (interpreted in accordance with section 163(i)
of the Code) of the Notes (such product, the “Maximum Accrual”),

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then all accrued and unpaid interest (including Capitalized Interest) and accrued and unpaid
original issue discount on the Notes in excess of an amount equal to the Maximum Accrual shall be
paid in cash by the Issuers on each such interest payment date.

     3.1.4. Interest on the Notes shall be computed on the basis of a 365-day year. In
computing such interest, the date or dates of the making of the Notes shall be included and
the date of payment shall be excluded. Interest shall be paid by wire transfer or other
same day funds to the respective account designated in writing for each Noteholder on
Schedule III hereto (or such other account or address or to the attention of such other
Person as the recipient party shall have specified by prior written notice to the sending
party).

     3.1.5. Default interest which is not payable pursuant to the provisions of the
Subordination Agreement or otherwise shall accrue and be capitalized in the manner of
Capitalized Interest.

     3.2. Payment of Notes.

     3.2.1. Scheduled Payments. All outstanding principal and all accrued interest
(including Capitalized Interest) then outstanding, and all other amounts then owing
hereunder with respect to the Notes shall be paid in full in cash on the Maturity Date.

     3.2.2. Voluntary Prepayments. The Notes may be prepaid at the Issuers’ option,
at any time, and from time to time, in whole or in part (in a minimum amount of $500,000 and
in integral multiples of $100,000, or such lesser amount as is then outstanding), on five
Business Days’ prior notice to the Noteholders; provided, that any such voluntary
prepayment of the Notes shall include the Applicable Premium on the amount so prepaid;
provided, however, if the Notes are prepaid from proceeds of an IPO, the
Applicable Premium shall be waived.

     3.2.3. Prepayments upon a Change of Control.

     3.2.3.1. Upon any Change of Control, the Noteholders shall have the right to
require the Issuers to prepay in whole, all of the Notes then outstanding, together
with accrued interest thereon and the Applicable Premium on the amount so prepaid;
provided, however, if the Notes are prepaid from proceeds of the
Change of Control, the Applicable Premium shall be waived. Such prepayment of the
Notes shall be made in accordance with Section 3.3.

     3.2.3.2. Not later than (i) ten Business Days prior to any Change of Control
resulting from the issuance or sale by the Parent or any Subsidiary of the Parent of
any equity interest or any other Change of Control of which the Parent or any
Subsidiary of the Parent has prior knowledge or (ii) ten Business Days following any
other Change of Control, the Issuers shall deliver to the Noteholders a written
notice of such Change of Control (a “Change of Control Notice”). The
Noteholders shall have ten Business Days from the date of delivery of the Change of
Control Notice to exercise their right to require the Issuers to prepay all of the
Notes pursuant to Section 3.3 at a purchase price equal to the

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principal amount of such Notes (including any principal on account of
Capitalized Interest) plus the Applicable Premium thereon (except as pursuant to
Section 3.2.3.1 above) by delivering a notice to the Issuers to that effect (the
“Change of Control Repurchase Notice”). Any purchase of Notes pursuant to
this Section 3.2.3 shall be effected on or prior to the later of (x) the occurrence
of the Change of Control or (y) five Business Days following delivery of the Change
of Control Repurchase Notice.

     3.2.3.3. Notwithstanding the foregoing, the prepayment price shall be the
lower of (a) 101% of the principal amount of the Notes (including any principal on
account of Capitalized Interest) or (b) the sum of (x) the principal amount of the
Notes (including any principal on account of Capitalized Interest) plus (y)
the product of the principal amount of the Notes (including any principal on account
of Capitalized Interest) and the Applicable Premium in the event that the Issuers
effectuate a business combination, merger or acquisition (other than with an entity
that, as of the date of Closing, is affiliated with the Sponsor), so long as (i) the
right of first offer in Section 13.3 has been complied with in the case of any
subordinated debt financing associated with such transaction (and the Purchasers
have received a right of first offer with respect to any subordinated debt financing
associated with the initial acquisition by the Sponsor of the Issuers to be
combined, merged or acquired or any issuance of subordinated debt following such
acquisition), (ii) the Purchasers have been offered the opportunity to provide
financing for such acquisition, or to roll over their existing investment in the
Notes, on terms and conditions at least as favorable to the Purchasers as the terms
of the Notes, including that the amount of such financing is at least as great as
the then outstanding principal balance of the Notes, the interest rate and rate of
cash interest is at least as great as the Notes and the financial and other
covenants are no more lenient than those agreed to in connection with the Notes,
(iii) there is no Default or Event of Default pending immediately prior to such
transaction, and (iv) the post-transaction issuer continues to be owned and
controlled by the Sponsor and is of comparable credit quality, and has comparable
projected financial characteristics, to the Issuers.

     3.2.4. Other Prepayments.

     3.2.4.1. Asset Dispositions. If the Issuers or any of their
Subsidiaries shall at any time or from time to time:

	 	(i)	 	make a Disposition; or
	 
	 	(ii)	 	suffer an Event of Loss;

and the aggregate amount of the Net Proceeds received by the Issuers and their
Subsidiaries in connection with such Disposition or Event of Loss and all other
Dispositions and Events of Loss occurring during the fiscal year in which such
Disposition or Event of Loss has occurred exceeds $100,000, then (A) the Issuers
shall promptly notify the Noteholders of such proposed Disposition or Event of

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Loss (including the amount of the estimated Net Proceeds to be received by the
Issuers and any of their Subsidiaries in respect thereof) and (B) promptly upon
receipt by the Issuers and/or any of their Subsidiaries of the Net Proceeds of such
Disposition or Event of Loss, the Issuers shall make an offer to use such Net
Proceeds, to the extent the Net Proceeds are not paid to reduce obligations under
the Senior Credit Agreement within 180 days of such Disposition or Event of Loss, to
purchase a principal amount of Notes such that the Net Proceeds equal the principal
amount of the Notes plus the Applicable Premium thereon. The Noteholders shall have
not less than 30 days to accept any offer pursuant to this Section 3.2.4, and,
within two Business Days after the expiration of such 30 day period (or, if earlier,
the date on which all Noteholders shall have responded to the offer), the Issuers
shall apply all of such Net Proceeds to the pro rata purchase of
Notes of any accepting Noteholders. Notwithstanding the foregoing and provided no
Event of Default has occurred and is continuing, such prepayment shall not be
required to the extent the Issuers reinvests the Net Proceeds of such Disposition or
Event of Loss, or a portion thereof, in productive assets of a kind then used or
usable in the business of the Issuers, within one hundred eighty (180) days after
the date of such Disposition or Event of Loss or enters into a binding commitment
thereof within said one hundred eighty (180) day period and subsequently makes such
reinvestment. Pending such reinvestment, the Net Proceeds shall either (i) be
delivered to the Agent under the Senior Credit Agreement, for distribution to the
lenders under the Senior Credit Agreement, as a prepayment of the revolving loans
under the Senior Credit Agreement, but not as a permanent reduction of the revolving
loan commitment thereunder or (ii) be retained by the Issuers and deposited in a
deposit account of the Issuers, and such Net Proceeds shall remain on deposit
therein until such reinvestment or otherwise applied as a prepayment to the
obligations under the Senior Credit Agreement or otherwise applied under the terms
of this Section 3.2.

     3.2.4.2. Issuance of Notes. Immediately upon the receipt by the
Parent, the Issuers or any of their Subsidiaries of the Net Issuance Proceeds of the
issuance of equity securities or debt securities (other than Net Issuance Proceeds
from the issuance of (i) debt securities in respect of Indebtedness permitted
hereunder and (ii) Excluded Issuances), the Issuers shall make an offer to use such
Net Issuance Proceeds, to the extent the Net Issuance Proceeds are not paid to
reduce obligations under the Senior Credit Agreement, to purchase a principal amount
of Notes such that the Net Issuance Proceeds equal the principal amount of the Notes
plus the Applicable Premium thereon. The Noteholders shall have not less than 30
days to accept any offer pursuant to this Section 3.2.4.2, and, within two Business
Days after the expiration of such 30 day period (or, if earlier, the date on which
all Noteholders shall have responded to the offer), the Issuers shall apply all of
such Net Issuance Proceeds to the pro rata purchase of Notes of any
accepting Noteholders.

     3.2.4.3. Excess Cash Flow. The Issuers shall deliver to the
Noteholders a written calculation of Excess Cash Flow of the Issuers in the form of
Exhibit D and certified as correct on behalf of the Issuers by a Responsible
Officer, (i)

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commencing with the fiscal year ending December 31, 2007 until the repayment in
full in cash of all Obligations under the Senior Credit Agreement and the
termination of all commitments thereunder, promptly upon the request of the
Noteholders and (ii) for the time commencing with the expiration of the period
described in subclause (i) above, within five (5) days after the annual financial
statements are required to be delivered pursuant to Section 7.2 hereof. After the
repayment in full in cash of all Obligations under the Senior Credit Agreement and
the termination of all commitments thereunder, promptly, and in any event not more
than ten (10) Business Days following delivery of the calculation of Excess Cash
Flow provided for in the preceding sentence, the Issuers shall make an offer to use,
if the Leverage Ratio, determined as of the last day of such fiscal year is equal to
or greater than 2.50 to 1.00, 50% of such Excess Cash Flow less any voluntary
prepayments during such fiscal year of the Notes, to purchase a principal amount of
Notes such that such amount of Excess Cash Flow less such voluntary prepayments
equals the principal amount of such Notes plus the Applicable Premium thereon. If
the Leverage Ratio, determined as of the last day of such fiscal year, is less than
2.50 to 1.00, then no prepayment shall be due. The Noteholders shall have not less
than 30 days to accept any offer pursuant to this Section 3, and, within two
Business Days after the expiration of such 30 day period (or, if earlier, the date
on which all Noteholders shall have responded to the offer), the Issuers shall apply
all of such amount to the pro rata purchase of Notes of any
accepting Noteholders.

     3.2.5. Subordination Agreement. This Section 3.2 is subject to the terms and
conditions set forth in the Subordination Agreement.

     3.3. Prepayment Procedures.

     3.3.1. If fewer than all of the Notes are to be paid or prepaid, the Issuers shall pay
or prepay the Notes on a pro rata basis and, in the event of an offer to
prepay a portion of the Notes in whole or in part, the Issuers shall pay or prepay the Notes
pro rata to those parties tendering in response to such offer (i.e.,
pro rata among holders thereof).

     3.3.2. Upon surrender of a Note that is paid or prepaid in part, the Issuers shall
promptly execute and deliver to the holder (at the Issuers’ expense) a new Note equal in
principal amount to the unpaid portion of the Note surrendered.

     3.3.3. Each Purchaser agrees that before disposing of the Note held by it, or any part
thereof (other than by granting participations therein), such Purchaser will make a notation
thereon of all principal payments previously made thereon and of the date to which interest
thereon has been paid and will notify the Issuers of the name and address of the transferee
of that Note; provided, that the failure to make (or any error in the making of) a
notation of the payments made under such Note or to notify the Issuers of the name and
address of a transferee shall not limit or otherwise affect the obligation of the Issuers
hereunder or under such Note.

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     3.3.4. All payments or prepayments (whether voluntary or mandatory) shall include the
payment of accrued and unpaid interest to, but not including, the date of such prepayment on
the principal amount of the Notes so prepaid, in each case, by wire transfer or other same
day funds to the respective account designated in writing by each Noteholder on Schedule III
hereto (or such other account or address or to the attention of such other Person as the
recipient party shall have specified by prior written notice to the sending party).

     3.4. Taxes.

     3.4.1. Subject to Section 3.4.4, any and all payments by the Issuers hereunder or with
respect to any Note shall be made free and clear of and without deduction for any and all
present or future taxes, levies, imposts, deductions, charges or withholdings and penalties,
interest and all other liabilities with respect thereto in any such case imposed by the
United States or any political subdivision thereof, excluding taxes imposed or based on the
recipient Purchaser’s overall net income, and franchise or capital taxes imposed on it in
lieu of net income taxes by the jurisdiction under the laws of which any of them is
organized or any political subdivision thereof (all such non-excluded taxes, levies,
imposts, deductions, charges, withholdings and other liabilities in respect of payments
hereunder or under the Notes being hereinafter referred to as “Taxes”). If the
Issuers shall be required by law to deduct any Taxes from or in respect of any sum payable
hereunder or under any Note to any Purchaser, (i) the sum payable shall be increased as may
be necessary so that after making all required deductions (including deductions applicable
to additional sums payable under this Section 3.4) such Purchaser receives an amount equal
to the sum it would have received had no such deductions been made, (ii) the Issuers shall
make such deductions and (iii) the Issuers shall remit the full amount deducted to the
relevant taxation authority or other authority in accordance with applicable law. Within 30
days after the date of any payment of Taxes, the Issuers shall furnish to such Purchaser the
original or certified copy of a receipt evidencing payment thereof.

     3.4.2. In addition, the Issuers agree to pay any present or future stamp or documentary
taxes or any other excise or property taxes, charges or similar levies which arise from any
payment made hereunder or from the execution, delivery or registration of, performance
under, or otherwise with respect to, this Agreement or the Notes (hereinafter referred to as
“Other Taxes”).

     3.4.3. Each Purchaser of Notes organized under the laws of a jurisdiction outside the
United States, prior to its receipt of the first payment on the Notes, shall provide the
Issuers with (i) Internal Revenue Service Form W-8ECI, W-8BEN, W-8EXP or W-8IMY, as
appropriate, or any other applicable Internal Revenue Service Form W-8 or successor form
prescribed by the Internal Revenue Service, certifying that such Purchaser is entitled to
exemption from United States withholding tax on payments of interest and (ii) any other form
or certificate required by any taxing authority (including any certificate required by
Sections 871(h) and 881(c) of the Code), certifying that such Purchaser is entitled to an
exemption from United States withholding tax on interest payments made pursuant to this
Agreement.

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     3.4.4. For any period with respect to which a Purchaser has failed to provide the
Issuers with the appropriate form pursuant to Section 3.4.3, such Purchaser shall not be
entitled to any additional amounts or indemnification under this Section 3.4 with respect to
Taxes imposed by the United States to the extent that the obligation to pay such additional
amounts would not have arisen but for the failure of such Purchasers to comply with this
Section 3.4; provided, however, that should a Purchaser which is otherwise
exempt from Taxes become subject to Taxes because of its failure to deliver a form required
hereunder, the Issuers shall take such steps as such Purchaser shall reasonably request to
assist such Purchaser to recover such Taxes.

     3.4.5. The Issuers will indemnify each Purchaser for the full amount of Taxes or Other
Taxes as provided in Sections 3.4.1 and 3.4.2 (to the extent not previously paid under
Section 3.4.1 or 3.4.2 above) imposed on such Purchaser and any liability (including
penalties, interest and expenses) arising therefrom or with respect thereto. Payment in
respect of any such indemnification shall be made within 30 days from the date such
Purchaser makes written demand therefor.

     3.4.6. In the event that the Issuers makes an additional payment under Section 3.4.1,
3.4.2 or 3.4.5 for the account of any Purchaser and such Purchaser, in its sole opinion and
absolute discretion, determines that it has finally and irrevocably received a refund of any
tax paid or payable by it in respect of or calculated with reference to the deduction or
withholding giving rise to such additional payment, such Purchaser shall, to the extent that
it determines that it can do so without prejudice to the retention of the amount of such
refund, pay to the Issuers such amount as such Purchaser shall, in its sole opinion, have
determined is attributable to such deduction or withholding and will leave such Purchaser
(after such payment) in no worse position than it would have been had the Issuers not been
required to make such deduction or withholding. Nothing contained herein shall (i)
interfere with the right of a Purchaser to arrange its tax affairs in whatever manner it
thinks fit or (ii) oblige any Purchaser to claim any tax refund or to disclose any
information relating to its tax affairs or any computations in respect thereof or (iii)
require any Purchaser to take or refrain from taking any action that would prejudice its
ability to benefit from any other refunds to which it may be entitled.

     3.4.7. Without prejudice to the survival of any other agreement hereunder, the
agreements and obligations contained in this Section 3.4 shall survive the payment in full
of principal and interest under the Notes.

     3.5. Manner and Time of Payment.

     3.5.1. All payments under the Notes of principal, interest, premiums and fees hereunder
shall be made without defense, set off or counterclaim, in same day funds and delivered to
the Noteholders not later than 2:00 p.m. (Boston time) on the date such payment is due, with
such payment to be made in the same manner as that provided for payment of interest under
Section 3.1; provided that funds received by such holders after 2:00 p.m. (Boston
time) shall be deemed to have been paid on the next succeeding Business Day.

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     3.5.2. Whenever any cash payment to be made hereunder or under the Notes shall be
stated to be due on a day which is not a Business Day, the cash payment shall be made on the
next succeeding Business Day and such additional period shall be included in the computation
of the payment of interest hereunder or under the Notes.

     3.6. Note Obligations Joint and Several. The Sargent Companies and Roadrunner are
referred to collectively in this Agreement as the Issuers. For the avoidance of doubt, the Note
Obligations are joint and several among the Sargent Companies and Roadrunner. Each of the Sargent
Companies and Roadrunner acknowledges that it is jointly and severally liable for all of the Note
Obligations, and as a result hereby unconditionally guaranties the full and prompt payment when
due, whether at maturity or earlier, by reason of acceleration or otherwise, and at all times
thereafter, of all indebtedness, liabilities and obligations of every kind and nature related to
the Note Obligations, howsoever created, arising or evidenced, whether direct or indirect, absolute
or contingent, joint or several, now or hereafter existing, or due or to become due, and howsoever
owned, held or acquired by Purchasers.

     The Issuers hereby unconditionally waive (i) any rights to presentment, demand, protest or
(except as expressly required hereby) notice of any kind, and (ii) any rights of rescission,
setoff, counterclaim or defense to payment under the Notes or otherwise that the Issuers may have
or claim against any Purchaser.

ARTICLE 4

REPRESENTATIONS AND WARRANTIES OF PURCHASERS

     In order to induce the Issuers to enter into this Agreement, each Purchaser individually (but
not on behalf of any other Purchaser) represents, warrants and agrees for the benefit of the
Issuers that:

     4.1. Legal Capacity; Due Authorization. Such Purchaser has full legal capacity, power
and authority to execute and deliver this Agreement and to perform its obligations hereunder and
that this Agreement has been duly executed and delivered by such Purchaser and is the legal, valid
and binding obligation of such Purchaser enforceable against it in accordance with the terms
hereof.

     4.2. Restrictions on Transfer. Such Purchaser has been advised that the Notes have
not been registered under the Securities Act or any state securities laws and, therefore, cannot be
resold unless they are registered under the Securities Act and applicable state securities laws or
unless an exemption from such registration requirements is available, and that the Notes may have
to be held by such Purchaser for an indefinite period of time. Such Purchaser is aware that,
except as provided in the Shareholders’ Agreement, no Issuer is under any obligation to effect any
such registration with respect to the Notes or to file for or comply with any exemption from
registration. Such Purchaser is purchasing the Notes to be acquired by such Purchaser hereunder
for its own account and not with a view to, or for resale in connection with, the distribution
thereof in violation of the Securities Act; provided, however, that except as
provided in ARTICLE 12 of this Agreement, the disposition of such Purchaser’s property shall at all
times be and remain in its control and sole discretion.

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     4.3. Accredited Investor, etc. Such Purchaser has such knowledge and experience in
financial and business matters so as to be capable of evaluating the merits and risks of such
investment, is able to incur a complete loss of such investment and to bear the economic risk of
such investment for an indefinite period of time. Such Purchaser (i) is an “accredited investor”
as that term is defined in Regulation D under the Securities Act and (ii) has been represented by
counsel in the purchase of the Notes to be purchased by it and is aware of the limitations of state
and federal securities laws with respect to the disposition of the Notes. Such Purchaser
acknowledges that such Purchaser has had an opportunity to examine the financial and business
affairs of the Parent and its Subsidiaries and an opportunity to ask questions of and receive
answers from the Parent’s and its Subsidiaries’ management.

     4.4. Brokerage Fees, etc. Each Purchaser represents and warrants to each other party
to this Agreement that, no broker’s, finder’s or placement fee or commission will be payable to any
Person alleged to have been retained by such representing and warranting party with respect to any
of the transactions contemplated by this Agreement. Each Purchaser hereby indemnifies each such
other party against and agrees that it will hold each such party harmless from any claim, demand or
liability, including reasonable attorneys’ fees, for any broker’s, finder’s or placement fee or
commission alleged to have been incurred by such indemnifying party.

     4.5. No Advertisement. There has been no advertisement by such Purchaser of the Notes
in printed public media, radio, television or telecommunications, including electronic display.

ARTICLE 5

REPRESENTATIONS AND WARRANTIES OF THE ISSUERS

     In order to induce each Purchaser to enter into this Agreement and to purchase the Notes to be
purchased by such Purchaser hereunder, each Issuer and each of their Subsidiaries represents,
warrants and agrees for the benefit of each Purchaser that, as of the Closing Date (unless
otherwise stated, both before and after giving effect to the issuance of the Notes and the other
transactions contemplated hereby or in connection with the foregoing):

     5.1. Organization. Each Issuer is validly existing and in good standing under the
laws of its jurisdiction of organization; and each Issuer is duly qualified to do business in each
jurisdiction where, because of the nature of its activities or properties, such qualification is
required, except for such jurisdictions where the failure to so qualify would not have a Material
Adverse Effect.

     5.2. Capitalization. All of the outstanding capital stock of Roadrunner is owned by
Parent and Parent is sole member of Sargent LLC. Sargent LLC holds all outstanding capital stock
of the Sargent Companies. There will be no other equity of Sargent LLC or Roadrunner or warrants,
options or rights to acquire the same (with the exception of the pledge by Parent of the equity of
each of Sargent LLC and Roadrunner and the pledge by Sargent LLC of the Sargent Companies related
to the Senior Credit Agreement) after giving effect to the Closing. The Parent has no Subsidiaries
other than Sargent LLC and Roadrunner and has no equity investments in any Person. Sargent LLC and
Roadrunner have no Subsidiaries and have no equity investments in any Person other than those
listed on Schedule 5.2.

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     5.3. Authorization; No Conflict. All requisite corporate action on the part of each
Issuer and each of their officers, directors or partners necessary for the authorization, execution
and delivery of the Securities Documents to which each is a party, the performance of all
obligations of each Issuer under such agreements and the authorization, issuance and delivery of
the Notes being sold hereunder, has been taken, and the Securities Documents to which each Issuer
is a party constitute valid and legally binding obligations of each such Issuer, as applicable,
enforceable in accordance with their terms, subject to bankruptcy, insolvency and similar laws
affecting the enforceability of creditors’ rights generally and to general principles of equity,
and will not (a) require any consent or approval of any governmental agency or authority (other
than any consent or approval which has been obtained and is in full force and effect), (b) conflict
with (i) any provision of law, (ii) the charter, by-laws or other organizational documents of any
Issuer or (iii) any agreement or other document, indenture, instrument, or any judgment, order or
decree, which is binding upon any Issuer or any of their respective properties, except with respect
to this clause (iii), where such conflict could not reasonably be expected to have a Material
Adverse Effect or (c) require, or result in, the creation or imposition of any Lien on any asset of
any Issuer.

     5.4. Validity and Binding Nature. Each of this Agreement and each of the Securities
Documents to which any Issuer is a party is the legal, valid and binding obligation of such Person,
enforceable against such Person in accordance with its terms, subject to bankruptcy, insolvency and
similar laws affecting the enforceability of creditors’ rights generally and to general principles
of equity.

     5.5. Valid Issuance of the Notes. The Notes which are being purchased by the
Purchasers hereunder, when issued, sold and delivered in accordance with the terms hereof for the
consideration expressed herein, will be duly and validly authorized and issued and free of
restrictions on transfer, other than restrictions imposed under this Agreement, the Subordination
Agreement and applicable United States state or federal securities laws. Based in part upon the
representations of the Purchasers in this Agreement, the Notes will be issued in compliance with
all applicable United States securities laws

     5.6. Financial Condition.

     5.6.1. The audited consolidated financial statements of Parent and its Subsidiaries and
the audited combined financial statements of the Sargent Companies as of December 31, 2005
and the unaudited consolidated financial statements of Parent and its Subsidiaries and
Sargent Inc. and its Subsidiaries as of December 31, 2006, copies of each of which have been
delivered to the Purchasers, were prepared in accordance with GAAP (subject, in the case of
such unaudited statements, to the absence of footnotes and to normal year-end adjustments)
and present fairly, in all material respects, the financial condition of each of the Sargent
Companies, Sargent Inc. and Parent as at such dates and the results of its operations for
the periods then ended.

     5.6.2. The financial projections for the Parent and the Issuers for the Issuers’ fiscal
years ended December 31, 2007 through December 31, 2011 which were previously delivered to
the Purchasers were prepared in good faith and are based on reasonable assumptions as to the
future performance of the Issuers, it being recognized by

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the Purchasers, however, that projections as to future results are not to be viewed as
facts and that the actual results during the periods which are the subject of such
projections may differ from the projected results, and that the differences may be material.

     5.6.3. The pro forma consolidated balance sheet for Parent, Sargent LLC and Roadrunner
as at December 31, 2006, copies of which have been delivered to the Purchasers, present
fairly, in all material respects, the pro forma financial condition of the Issuers as at
such date.

     5.7. Consents. Except (a) as set forth on Schedule 5.7 and (b) for recordings and
filings in connection with the Liens granted under the Senior Credit Agreement, no consent,
approval, order or authorization of, or registration, qualification, designation, declaration or
filing with, any federal, state or local governmental authority, or any third party in connection
with any material agreement to which any Issuer or any Subsidiary of any Issuer is party in order
to avoid such material agreement being in default after giving effect to the issuance of the Notes,
the execution of the Senior Credit Agreement, the Shareholders’ Agreement and the Subordination
Agreement and the consummation of the transactions contemplated hereby and thereby, which has not
been obtained is required to be obtained or made by any Issuer or any of their Subsidiaries in
connection with the consummation of the transactions contemplated by this Agreement or in order to
avoid the occurrence of a default under any such material agreement or a termination right under
any such material agreement arising as a result of the consummation of the issuance of the Notes,
the execution of the Senior Credit Agreement, the Shareholders’ Agreement and the Subordination
Agreement and the consummation of the transactions contemplated hereby and thereby.

     5.8. No Material Adverse Change. Since December 31, 2005, there has been no material
adverse change in the financial condition, operations, assets, business or properties of the
Issuers and Guarantors taken as a whole.

     5.9. Litigation and Contingent Obligations. No litigation (including derivative
actions), arbitration proceeding or governmental investigation or proceeding is pending or, to the
Issuers’ knowledge, threatened against any Issuer which might reasonably be expected to have a
Material Adverse Effect, except as set forth in Schedule 5.9. Other than any liability
incident to such litigation or proceedings, no Issuer has any material Contingent Obligations not
listed on Schedule 5.9 or permitted by Section 8.

     5.10. Ownership of Properties; Liens. Each Issuer owns good and, in the case of real
property, marketable title to all of its properties and assets, real and personal, tangible and
intangible, of any nature whatsoever (including patents, trademarks, trade names, service marks and
copyrights), free and clear of all Liens, charges and claims (including infringement claims with
respect to patents, trademarks, service marks, copyrights and the like) except for Permitted Liens
as described in Section 8.1.

     5.11. Pension Plans.

     5.11.1. The Unfunded Liability of all Pension Plans does not in the aggregate exceed
twenty percent of the Total Plan Liability for all such Pension Plans. Each

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Pension Plan complies in all material respects with all applicable requirements of law
and regulations. No contribution failure under Section 412 of the Code, Section 302 of
ERISA or the terms of any Pension Plan has occurred with respect to any Pension Plan,
sufficient to give rise to a Lien under Section 302(f) of ERISA, or otherwise to have a
Material Adverse Effect. There are no pending or, to the knowledge of Issuers, threatened,
claims, actions, investigations or lawsuits against any Pension Plan, any fiduciary of any
Pension Plan, or any Issuer or other any member of the Controlled Group with respect to a
Pension Plan or a Multiemployer Pension Plan which could reasonably be expected to have a
Material Adverse Effect. Neither the Issuers nor any other member of the Controlled Group
has engaged in any prohibited transaction (as defined in Section 4975 of the Code or Section
406 of ERISA) in connection with any Pension Plan or Multiemployer Pension Plan which would
subject that Person to any material liability. Within the past five years, neither the
Issuers nor any other member of the Controlled Group has engaged in a transaction which
resulted in a Pension Plan with an Unfunded Liability being transferred out of the
Controlled Group, which could reasonably be expected to have a Material Adverse Effect. No
Termination Event has occurred or is reasonably expected to occur with respect to any
Pension Plan, which could reasonably be expected to have a Material Adverse Effect.

     5.11.2. All contributions (if any) have been made to any Multiemployer Pension Plan
that are required to be made by any Issuer or any other member of the Controlled Group under
the terms of the plan or of any collective bargaining agreement or by applicable law; no
Issuer nor any other member of the Controlled Group has withdrawn or partially withdrawn
from any Multiemployer Pension Plan, incurred any withdrawal liability with respect to any
such plan or received notice of any claim or demand for withdrawal liability or partial
withdrawal liability from any such plan, and no condition has occurred which, if continued,
could result in a withdrawal or partial withdrawal from any such plan; and neither any
Issuer nor any other member of the Controlled Group has received any notice that any
Multiemployer Pension Plan is in reorganization, that increased contributions may be
required to avoid a reduction in plan benefits or the imposition of any excise tax, that any
such plan is or has been funded at a rate less than that required under Section 412 of the
Code, that any such plan is or may be terminated, or that any such plan is or may become
insolvent.

     5.12. Investment Company Act. No Issuer is an “investment company” or a company
“controlled” by an “investment company” or a “subsidiary” of an “investment company,” within the
meaning of the Investment Company Act of 1940.

     5.13. Intentionally Omitted.

     5.14. Regulation U. None of the Issuers is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose of purchasing or carrying
Margin Stock.

     5.15. Taxes. Each Issuer has timely filed all income, franchise and material tax
returns and reports required by law to have been filed by it and has paid all income, franchise and
other material taxes and governmental charges due and payable, except any such taxes or charges

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which are being diligently contested in good faith by appropriate proceedings and for which
adequate reserves in accordance with GAAP shall have been set aside on its books. The Issuers have
made adequate reserves on their books and records in accordance with GAAP for all taxes that have
accrued but which are not yet due and payable. There is no proposed tax assessment against the
Issuers or any of its Subsidiaries, either individually or in the aggregate, for a material amount
of tax. No Issuer has participated in any transaction that relates to a year of the taxpayer
(which is still open under the applicable statute of limitations) which is a “reportable
transaction” within the meaning of Treasury Regulation Section 1.6011-4(b)(2) (irrespective of the
date when the transaction was entered into).

     5.16. Solvency. On the Closing Date, and after giving effect to the issuance of the
Notes under this Agreement, with respect to the Issuers and Guarantors taken as a whole, (a) the
fair value of their assets is greater than the amount of their liabilities (including disputed,
contingent and unliquidated liabilities), (b) the present fair saleable value of their assets is
not less than the amount that will be required to pay the probable liability on their debts as they
become absolute and matured, (c) they are able to realize upon their assets and pay their debts and
other liabilities (including disputed, contingent and unliquidated liabilities) as they mature in
the normal course of business, (d) they do not intend to, and do not believe that they will, incur
debts or liabilities beyond their ability to pay as such debts and liabilities mature and (e) they
are not engaged in business or a transaction, and are not about to engage in business or a
transaction, for which their property would constitute unreasonably small capital.

     5.17. Environmental Matters. The on-going operations of each Issuer comply in all
respects with all Environmental Laws, except such non-compliance which could not (if enforced in
accordance with applicable law) reasonably be expected to result, either individually or in the
aggregate, in a Material Adverse Effect. Each Issuer has obtained, and maintained in good
standing, all licenses, permits, authorizations, registrations and other approvals required under
any Environmental Law and required for their respective ordinary course operations, and for their
reasonably anticipated future operations, and each Issuer is in compliance with all terms and
conditions thereof, except where the failure to do so could not reasonably be expected to result in
material liability to any Issuer and could not reasonably be expected to result, either
individually or in the aggregate, in a Material Adverse Effect. Except as set forth on
Schedule 5.17, no Issuer or any of its properties or operations is subject to, or
reasonably anticipates the issuance of, any written order from or agreement with any federal, state
or local governmental authority, nor subject to any judicial or docketed administrative or other
proceeding, respecting any Environmental Law, Environmental Claim or Hazardous Substance. There
are no Hazardous Substances or other conditions or circumstances existing with respect to any
property, arising from operations prior to the Closing Date, or relating to any waste disposal, of
any Issuer that would reasonably be expected to result, either individually or in the aggregate, in
a Material Adverse Effect. Except as set forth on Schedule 5.17, no Issuer has any
underground storage tanks that are not properly registered or permitted under applicable
Environmental Laws or that at any time have released, leaked, disposed of or otherwise discharged
Hazardous Substances.

     5.18. Insurance. Set forth on Schedule 5.18 is a complete and accurate
summary of the property and casualty insurance program of the Issuers as of the Closing Date
(including the names of all insurers, policy numbers, expiration dates, amounts and types of
coverage, annual premiums, exclusions, deductibles, self-insured retention, and a description in
reasonable detail

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of any self-insurance program, retrospective rating plan, fronting arrangement or other risk
assumption arrangement involving any Issuer). Each Issuer and its properties are insured with
financially sound and reputable insurance companies which are not Affiliates of the Issuers, in
such amounts, with such deductibles and covering such risks as are customarily carried by companies
engaged in similar businesses and owning similar properties in localities where such Issuers
operate.

     5.19. Real Property. Set forth on Schedule 5.19 is a complete and accurate
list, as of the Closing Date, of (i) the address of all real property leased by any Issuer, and
(ii) the address and a legal description of all real property owned by any Issuer.

     5.20. Information. The information heretofore or contemporaneously herewith furnished
in writing by any Issuer to the Purchasers for purposes of or in connection with this Agreement and
the transactions contemplated hereby is, and the written information hereafter furnished by or on
behalf of any Issuer to the Purchasers pursuant hereto or in connection herewith will be, true and
accurate in all material respects on the date as of which such information is dated or certified,
and such information is not and will not be incomplete by omitting to state any material fact
necessary to make such information not misleading in light of the circumstances under which made
(it being recognized by the Purchasers that any projections and forecasts provided by the Issuers
are based on good faith estimates and assumptions believed by the Issuers to be reasonable as of
the date of the applicable projections or assumptions and that actual results during the period or
periods covered by any such projections and forecasts may differ from projected or forecasted
results).

     5.21. Intellectual Property. Each Issuer owns and possesses or has a license or other
right to use all patents, patent rights, trademarks, trademark rights, trade names, trade name
rights, service marks, service mark rights and copyrights as are necessary for the conduct of the
businesses of the Issuers, without any infringement upon rights of others which could reasonably be
expected to have a Material Adverse Effect.

     5.22. Burdensome Obligations. No Issuer is a party to any agreement or contract or
subject to any restriction contained in its organizational documents which could reasonably be
expected to have a Material Adverse Effect.

     5.23. Labor Matters. Except as set forth on Schedule 5.23, no Issuer is
subject to any labor or collective bargaining agreement. There are no existing or threatened
strikes, lockouts or other labor disputes involving any Issuer that singly or in the aggregate
could reasonably be expected to have a Material Adverse Effect. Hours worked by and payment made
to employees of the Issuers are in material compliance with the Fair Labor Standards Act and any
other applicable laws, rules or regulations dealing with such matters.

     5.24. No Default. No Event of Default exists or would result from the issuance by any
Issuer of any Notes hereunder or under any other Securities Document.

     5.25. Related Agreements.

     5.25.1. The Issuers have heretofore furnished the Purchasers a true and correct copy of
the Related Agreements. The merger of Sargent Inc. with and into Sargent LLC

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contemplated by the Merger Agreement was consummated contemporaneously with the
Closing, in accordance in all material respects with the terms of the Related Agreements.

     5.25.2. Each Issuer and, to the Issuers’ knowledge, each other party to the Related
Agreements, duly took all necessary corporate, partnership or other organizational action to
authorize the execution, delivery and performance of the Related Agreements and the
consummation of transactions contemplated thereby.

     5.25.3. The Related Transactions complied in all material respects with all applicable
legal requirements, and all necessary governmental, regulatory, creditor, shareholder,
partner and other material consents, approvals and exemptions required to be obtained by the
Issuers and, to the Issuers’ knowledge, each other party to the Related Agreements in
connection with the Related Transactions were duly obtained and are in full force and
effect. As of the date of the Related Agreements, all applicable waiting periods with
respect to the Related Transactions had expired without any action being taken by any
competent governmental authority which restrains, prevents or imposes material adverse
conditions upon the consummation of the Related Transactions.

     5.25.4. Neither the execution and delivery of the Related Agreements, nor the
consummation of the Related Transactions, violated any material statute or regulation of the
United States (including any securities law) or of any state or other applicable
jurisdiction, or any order, judgment or decree of any court or governmental body binding on
any Issuer or, to the Issuers’ knowledge, any other party to the Related Agreements, or
resulted in a breach of, or constituted a default under, any material agreement, indenture,
instrument or other document, or any judgment, order or decree, to which any Issuer is a
party or by which any Issuer is bound or, to the Issuers’ knowledge, to which any other
party to the Related Agreements is a party or by which any such party is bound.

     5.25.5. No statement or representation made in the Related Agreements by any Issuer or,
to the Issuers’ knowledge, any other Person, contains any untrue statement of a material
fact or omits to state any material fact required to be stated therein or necessary in order
to make the statements made therein, in light of the circumstances under which they are
made, not misleading.

ARTICLE 6

CLOSING CONDITIONS

     The obligation of each Purchaser to purchase and pay for the Notes provided for hereunder is
subject to the satisfaction or waiver of the following conditions, each as of the Closing Date:

     6.1. Representations and Warranties; No Default. All representations and warranties
of the Issuers, Guarantors and their Subsidiaries contained in this Agreement shall be true and
correct in all respects, and there shall exist no Default or Event of Default as of the Closing
Date, including after giving effect to the issuance of the Notes and the execution of the Senior
Credit Agreement and the other transactions contemplated herein and therein.

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     6.2. Documents Satisfactory; Transactions Consummated. The Senior Credit Agreement,
which shall include a revolving facility of at least $50,000,000 and a term facility of at least
$40,000,000, shall have been executed in accordance with its terms and the terms of the Senior
Credit Documents and all applicable laws, and each of the conditions precedent to the consummation
thereof (including, without limitation, the accuracy in all material respects of the
representations and warranties contained in the Senior Credit Agreement and in the Senior Credit
Documents) shall have been satisfied or waived. The Issuers shall have a minimum of $4,000,000 of
availability under such revolving facility immediately after giving effect to the Closing and the
transactions contemplated hereby. Each of the Documents shall have been duly executed and
delivered by the respective parties thereto and shall be in full force and effect. All of the
terms, conditions and provisions of each of such Documents shall be satisfactory to the Purchasers
in all respects in form and substance.

     6.3. Delivery of Documents. The Purchasers shall have received the following items,
each of which shall be in form and substance reasonably satisfactory to the Purchasers and, unless
otherwise noted, dated the Closing Date:

     6.3.1. True and correct executed copies of this Agreement, the Senior Credit Documents,
the Subordination Agreement, the Shareholders’ Agreement, any shareholder agreements entered
into with other shareholders of the Parent (the “Other Shareholder Agreements”), the
Thayer Earn-out Guarantee and the Notes issued in the names of the respective Purchasers as
set forth on Schedule I, all containing terms satisfactory to the Purchasers.

     6.3.2. Resolutions of the board of directors of Parent and each Issuer approving the
transactions contemplated by this Agreement, and approving and authorizing the execution,
delivery and performance of this Agreement, the Senior Credit Documents, the Subordination
Agreement, the Shareholders’ Agreement and each other Document to which it is a party and
approving and authorizing the issuance and sale of the Notes and the execution, delivery and
payment of the Notes, in each case, certified as of the Closing Date by its secretary or an
assistant secretary as being in full force and effect without modification or amendment.

     6.3.3. A copy of a certificate of the Secretary of State from the state of
incorporation dated as of a recent date prior to the Closing Date, listing all Charter
Documents of Parent, each Issuer and its Subsidiaries and each Guarantor on file with such
secretary of state, including any amendments thereto, and certified copies of all such
Charter Documents and certifying that (i) such copies are true and correct copies of the
Charter Documents, (ii) the amendments listed in such certificate are the only amendments to
such Charter Documents on file with such secretary of state, (iii) such Issuer or Subsidiary
has paid all franchise taxes due as of the date of such certificate, if available, and (iv)
if applicable, such Issuer or Subsidiary is duly incorporated and in good standing under the
laws of the State of Delaware.

     6.3.4. A certificate of Parent, each Issuer and its Subsidiaries and each Guarantor
signed on each of their behalf by its secretary or an assistant secretary, dated the Closing
Date (the statements made in which certificate shall be true on and as of such date)

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certifying as to (i) the absence of any amendment to the Charter Documents of the
Issuer or any of their Subsidiaries since the date of the secretary of state’s certificate
referred to in Section 6.3.3 above, (ii) if applicable, each of its bylaws as in effect on
the Closing Date (which shall be satisfactory to the Purchasers in all respects), and (iii)
the absence of any change in the due incorporation and good standing of each Issuer and each
of their Subsidiaries under the laws of the State of Delaware or such other jurisdiction
since the date of the secretary of state’s certificate referred to in Section 6.3.3 above
and the absence of any proceeding for the dissolution or liquidation of the Issuer.

     6.3.5. A copy of a certificate of the secretary of state (or other similar official) of
each jurisdiction in which Parent, each Issuer and its Subsidiaries and each Guarantor does
business, each dated a recent date prior to the Closing Date, stating that each such person
is duly qualified and in good standing as a foreign corporation in such state or other
jurisdiction and has filed all annual reports required to be filed to the date of such
certificate.

     6.3.6. A certificate of the secretary or an assistant secretary of Parent, each Issuer
and its Subsidiaries and each Guarantor certifying the names and true signatures of the
officers of such Issuer and their Subsidiaries executing the Securities Documents to which
it is a party.

     6.3.7. A consolidated pro forma balance sheet of Parent, Sargent LLC
and Roadrunner as at December 31, 2006, adjusted to give effect to the consummation of the
Related Transactions and the financings contemplated hereby as if such transactions had
occurred on such date (to the extent they had not occurred prior to such date), consistent
in all material respects with the sources and uses of cash as previously described to the
Purchasers and the forecasts previously provided to the Purchasers.

     6.3.8. An opinion of Greenberg Traurig, LLP, counsel for the Issuers, addressed to the
Purchasers covering such matters as are typical to financings and such other matters as the
Purchasers shall reasonably request, and in form and substance satisfactory to them.

     6.3.9. A certificate of a Responsible Officer of each Issuer and Guarantor, dated as of
the Closing Date, certifying that the conditions specified in Sections 6.1, 6.6, 6.8 and
6.10 have been fulfilled.

     6.3.10. Such other certificates and documents as the Purchasers may reasonably request
in order to evidence the satisfaction of the foregoing conditions and the completion of
legal matters incident to the transactions contemplated by this Agreement, and in form and
substance satisfactory to them.

     6.4. Due Diligence. The Purchasers shall be satisfied in their sole discretion with
the results of their accounting, business, legal, environmental, accounting and tax due diligence
reviews of the Issuers.

     6.5. Corporate/Capital Structure. The Purchasers shall be satisfied with the
ownership, corporate and legal structure and capitalization of the Parent and the Issuers,

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including, without limitation, the terms and conditions of the Preferred Stock, any capital
stock, options, warrants or other securities issued by any Issuer and any agreements related
thereto, including the Shareholders’ Agreement, shareholder agreements entered into with the other
shareholders of the Parent, the Subordination Agreement and the Senior Credit Documents and the
Merger Agreement.

     6.6. Authorizations, Consents and Approvals. The Issuers shall have received any and
all necessary authorizations, consents and approvals and shall have made any and all filings and
shall have satisfied all applicable waiting periods necessary in connection with the consummation
of the transactions contemplated by this Agreement.

     6.7. Financial Statements. The Issuers shall have delivered to the Purchasers: (a)
the audited Consolidated balance sheet of Parent and its Subsidiaries and the audited combined
financial statements of the Sargent Companies, as of December 31, 2005 and (b) the unaudited
consolidated financial statements of each of Parent and its Subsidiaries and Sargent Inc. and its
Subsidiaries as of December 31, 2006.

     6.8. Litigation. There shall exist no action, suit, investigation, litigation or
proceeding affecting any Issuer or any of their Subsidiaries or any of its respective properties
pending or threatened before any court, governmental agency or arbitrator that (i) could have a
Material Adverse Effect on the rights or remedies of the Purchasers hereunder, or on the ability of
any Issuer or any of their Subsidiaries to perform its respective obligations with respect to this
Agreement or the Notes or (ii) purports to affect the legality, validity or enforceability of the
Senior Credit Documents, this Agreement, the Notes, any other Document or the consummation of the
transactions contemplated hereby and thereby. No order, judgment or decree of any court,
arbitrator or governmental authority shall enjoin or restrain the Purchasers from acquiring the
Notes or from making the loans evidenced by the Notes.

     6.9. Other Fees and Expenses. On the Closing Date, all reasonable expenses of the
Purchasers (including, without limitation, reasonable legal fees and expenses) incurred in
connection with the negotiation and execution of this Agreement and the other Documents shall have
been paid by the Issuer to the extent due in accordance with Section 13.1.

     6.10. No Violation of Regulations T, U or X. The issuance of the Notes shall not
violate Regulations T, U or X of the Board of Governors of the Federal Reserve Board.

     6.11. Existing Indebtedness. Simultaneous with the Closing hereunder, the Issuers
shall satisfy all of their obligations under their existing subordinated debt facilities,
outstanding letters of credit (except for those letters of credit listed on Schedule 6.11)
and all other indebtedness for borrowed money issued outside the Ordinary Course of Business in a
manner satisfactory to the Purchasers (other than Senior Indebtedness).

     6.12. Consummation of the Merger. Pursuant to the Merger Agreement, Sargent Inc.
merged with and into Sargent LLC, resulting in Sargent LLC as the surviving company.

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ARTICLE 7

NOTE AFFIRMATIVE COVENANTS

     The Issuers covenant and agree, for the benefit of the Purchasers, that so long as any Notes
remain outstanding:

     7.1. Payment of Obligations. The Issuers will duly and punctually pay the principal
(including Capitalized Interest), any Applicable Premium or other premium (if any), interest and
any other amounts owing under this Agreement and the Notes with respect to the Notes, in each case
when due under the terms of this Agreement and the Notes.

     7.2. Financial Statements. The Parent and its Subsidiaries shall maintain, and shall
cause each of their respective Subsidiaries to maintain, a system of accounting established and
administered in accordance with sound business practices to permit the preparation of financial
statements in conformity with GAAP (provided that monthly financial statements shall not be
required to have footnote disclosure and are subject to normal year-end adjustments). Each of
Parent and its Subsidiaries shall deliver to the Noteholders (provided that Parent and its
Subsidiaries shall not be required to deliver financial statements under this Section 7.2 to more
than five Noteholders, it being understood that for this purpose, funds managed by the same adviser
or an Affiliate of such adviser shall be deemed to constitute one Noteholder) in form and detail
reasonably satisfactory to the Required Security Holders:

     7.2.1. promptly when available and in any event within 105 days after the close of each
fiscal year, a copy of the audited financial statements of Parent and its Subsidiaries as at
the end of such year, including therein consolidated balance sheets and statements of
earnings and cash flows of Parent and its Subsidiaries as at the end of such year, certified
without adverse reference to going concern value and without qualification by independent
auditors of recognized standing selected by Issuers and reasonably acceptable to the
Purchasers, together with (a) a written statement from such accountants to the effect that
in making the examination necessary for the signing of such annual audit report by such
accountants, nothing came to their attention that caused them to believe that the Issuers
and Guarantors, taken as a whole, were not in compliance with any provision of Sections 8.5
and 8.12 and Article 9 of this Agreement insofar as such provision relates to accounting
matters or, if something has come to their attention that caused them to believe that the
Issuers and Guarantors, taken as a whole, where not in compliance with any such provision,
describing such non-compliance in reasonable detail and (b) a comparison with the budget for
such fiscal year and a comparison of the previous fiscal year.

     7.2.2. as soon as available, but not later than forty-five (45) days after the end of
each fiscal quarter of each year, except the final fiscal quarter of the fiscal year, a copy
of the unaudited consolidated balance sheets of the Parent and each of its Subsidiaries, and
the related consolidated statements of income, shareholders’ equity and cash flows as of the
end of such month and for the portion of the fiscal year then ended, all certified on behalf
of the Parent by an appropriate Responsible Officer as being complete and correct and fairly
presenting, in accordance with GAAP, the financial position and the results of

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operations of the Parent and its Subsidiaries, subject to normal year-end adjustments
and absence of footnote disclosure.

     7.2.3. promptly when available and in any event within 30 days after the end of each
month (extended to 45 days, solely with respect to the month of December), a consolidated
balance sheet of Parent and its Subsidiaries as of the end of such month, together with
consolidated statements of earnings and cash flows for such month and for the period
beginning with the first day of such fiscal year and ending on the last day of such month,
together with a comparison with the corresponding period of the previous fiscal year and a
comparison with the budget for such period of the current fiscal year, certified by a
Responsible Officer of Parent; provided, that for all such financial statements
covering any period of time prior to December 31, 2007, such statements shall consist of (i)
the materials described in this Section 7.2.3, but solely for Roadrunner and its
Subsidiaries on a consolidated basis and (ii) “flash reports” for the Sargent Companies on a
consolidated basis, including revenue and EBITDA computations.

     7.2.4. promptly when available and in any event within thirty (30) days after the end
of each month, a consolidated balance sheet of Parent and its Subsidiaries as of the end of
such month, together with consolidated statements of earnings and cash flows for such month
and for the period beginning with the first day of such fiscal year and ending on the last
day of such month, together with a comparison with the corresponding period of the previous
fiscal year and a comparison with the budget for such period of the current fiscal year,
certified on behalf of the Parent by a Responsible Officer of the Parent.

     7.3. Certificates; Other Information. The Issuers shall furnish to each Noteholder
(provided that the Issuers shall not be required to deliver the certificates and documents under
this Section 7.3 to more than five Noteholders, it being understood that for this purpose, funds
managed by the same adviser or an Affiliate of such adviser shall be deemed to constitute one
Noteholder):

     7.3.1. concurrently with the delivery of the financial statements referred to in
Sections 7.2.1 and 7.2.2 above, a fully and properly completed Compliance Certificate in the
form of Exhibit E, certified on behalf of the Issuers by a Responsible Officer (it
being understood that, with respect to the Compliance Certificate delivered with the
financial statements referred to in Section 7.2.2, the Compliance Certificate need only be
completed to the extent the Issuers is required to evidence compliance with the financial
covenants in Article 9 hereof);

     7.3.2. promptly after the same are sent, copies of all financial statements and reports
which Parent sends to its shareholders or other equity holders, as applicable, generally;
and promptly after the same are filed, copies of all financial statements and regular,
periodic or special reports which Parent may make to, or file with, the Securities and
Exchange Commission or any successor or similar Governmental Authority;

     7.3.3. together with each delivery of financial statements pursuant to Section 7.2.1
and Section 7.2.2 for the last calendar month of each fiscal quarter (i) a

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management report, in reasonable detail, signed by a Responsible Officer of the Issuers
on behalf of the Issuers, describing the operations and financial condition of the Issuers
and their Subsidiaries for the month and the portion of the fiscal year then ended (or for
the fiscal year then ended in the case of annual financial statements), and (ii) a report
setting forth in comparative form the corresponding figures for the corresponding periods of
the previous fiscal year and the corresponding figures from the most recent projections for
the current fiscal year delivered pursuant to Section 7.3.5 and discussing the reasons for
any significant variations;

     7.3.4. as soon as available and in any event no later than thirty (30) days after the
last day of each fiscal year of the Issuers, projections of the Issuers’ (and their
Subsidiaries’) consolidated financial performance for the then current fiscal year on a
month by month basis;

     7.3.5. promptly upon receipt thereof, copies of any reports submitted by the Issuers’
certified public accountants in connection with each annual, interim or special audit or
review of any type of the financial statements or internal control systems of the Issuers
made by such accountants, including any comment letters submitted by such accountants to
management of the Issuers in connection with their services;

     7.3.6. promptly upon the filing or sending thereof, copies of all regular, periodic or
special reports of any Issuer filed with the SEC; copies of all registration statements of
any Issuer filed with the SEC (other than on Form S-8); and copies of all proxy statements
or other communications made to security holders generally;

     7.3.7. promptly following receipt, copies of any notices (including notices of default
or acceleration) received from any holder or trustee of, under or with respect to any Senior
Indebtedness;

     7.3.8. promptly, such additional business, financial, corporate affairs, perfection
certificates and other information as the Required Security Holders may from time to time
reasonably request.

     7.4. Notices. The Issuers shall notify promptly the Noteholders (provided that the
Issuers shall not be required to deliver such notice to more than five Noteholders, it being
understood that for this purpose, funds managed by the same adviser or an Affiliate of such adviser
shall be deemed to constitute one Noteholder) of each of the following (and in no event later than
five (5) Business Days after a Responsible Officer becoming aware thereof):

     7.4.1. the occurrence or existence of any “Event of Default” under and as defined in
the Senior Credit Agreement or any Default or Event of Default under this Agreement;

     7.4.2. any breach or non-performance of, or any default under, any Contractual
Obligation of the Parent or any of its Subsidiaries, or any violation of, or non-compliance
with, any Requirement of Law, which would reasonably be expected to result, either
individually or in the aggregate, in a Material Adverse Effect, including a description of

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such breach, non-performance, default, violation or non-compliance and the steps, if
any, the Parent or such Subsidiary has taken, is taking or proposes to take in respect
thereof;

     7.4.3. any dispute, litigation, investigation, proceeding or suspension which may exist
at any time between the Parent or any of its Subsidiaries and any Governmental Authority
which would reasonably be expected to result, either individually or in the aggregate, in a
Material Adverse Effect;

     7.4.4. the commencement of, the threat of or any material development in, any
litigation, arbitration or governmental investigation or proceeding affecting the Parent or
any of its Subsidiaries or any of the properties thereof (i) which, if adversely determined,
would reasonably be expected to have a Material Adverse Effect or (ii) in which the relief
sought is an injunction or other stay of the performance of this Agreement or any Document;

     7.4.5. any of the following if the same would reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect: (i) any enforcement actions,
Hazardous Material cleanup, or removal orders or other Governmental Authority, judicial or
administrative actions instituted against the Parent or any of its Subsidiaries pursuant to
any applicable Environmental Laws, (ii) any other Environmental Claims, and (iii) any
environmental or similar condition on any real property adjoining the Property of the Parent
or any Subsidiary of the Parent that could reasonably be anticipated to cause the Parent’s
or any of its Subsidiaries’ Property or any part thereof to be subject to any material
restrictions on the ownership, occupancy, transferability or use of such Property under any
Environmental Laws;

     7.4.6. any of the following if the same would reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect, together with a copy of any
notice with respect to such event that may be required to be filed with a Governmental
Authority and any notice delivered by a Governmental Authority to the Issuers or any member
or its Controlled Group with respect to such event:

     7.4.6.1. an ERISA Event;

     7.4.6.2. the adoption of any new Qualified Plan that is subject to Title IV of
ERISA or Section 412 of the Code by any member of the Controlled Group;

     7.4.6.3. the adoption of any amendment to a Qualified Plan that is subject to
Title IV of ERISA or Section 412 of the Code, if such amendment results in a
material increase in benefits or unfunded liabilities; or

     7.4.6.4. the commencement of contributions by any member of the Controlled
Group to any Multiemployer Plan or any Qualified Plan that is subject to Title IV of
ERISA or Section 412 of the Code;

     7.4.7. any material change in accounting policies or financial reporting practices by
Parent, the Issuers or any of their Subsidiaries;

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     7.4.8. any labor controversy resulting in or threatening to result in any strike, work
stoppage, boycott, shutdown or other labor disruption against or involving the Parent or any
of its Subsidiaries if the same would reasonably be expected to have, either individually or
in the aggregate, a Material Adverse Effect; and

     7.4.9. the creation, establishment or acquisition of any Subsidiary or the issuance by
the Issuers or such Subsidiary of any capital stock or warrant option or similar agreement
in respect thereof.

Each notice pursuant to this Section shall be accompanied by a written statement by a Responsible
Officer on behalf of the Issuers setting forth details of the occurrence referred to therein, and
stating what action the Issuers proposes to take with respect thereto and at what time. Each
notice under Section 7.4.1 shall describe with particularity any and all clauses or provisions of
this Agreement or other Document that have been breached or violated.

     7.5. Preservation of Corporate Existence, Etc. With the exception of the merger of
Sargent LLC and Sargent Inc. (which was consummated contemporaneously with the Closing), the Parent
shall, and shall cause each of its Subsidiaries to:

     7.5.1. preserve and maintain in full force and effect its organizational existence and
good standing under the laws of its state or jurisdiction of incorporation and in such
foreign jurisdictions in which the failure to maintain such good standing would reasonably
be expected to have a Material Adverse Effect, except, with respect to the Issuers’
Subsidiaries, in connection with transactions permitted by Section 8.3;

     7.5.2. preserve and maintain in full force and effect all rights, privileges,
qualifications, permits, licenses and franchises necessary in the normal conduct of its
business except in connection with transactions permitted by Section 8.3 and sales of assets
permitted by Section 8.2 and except as would not reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect;

     7.5.3. use its reasonable efforts, in the Ordinary Course of Business and in the
reasonable business judgment of the Issuers, to preserve its business organization and
preserve the goodwill and business of the customers, suppliers and others having material
business relations with it; and

     7.5.4. preserve or renew all of its registered trademarks, trade names and service
marks, the non-preservation of which would reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect.

     7.6. Maintenance of Property. The Issuers shall maintain, and shall cause each of
their Subsidiaries to maintain, and preserve all its Property which is necessary in its business in
good working order and condition, ordinary wear and tear and casualty excepted and shall make all
necessary repairs thereto and renewals and replacements thereof except where the failure to do so
would not reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect.

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     7.7. Insurance. The Issuers shall maintain, and cause each other Issuers and
Guarantors to maintain, with reputable insurance companies, such insurance coverage as may be
required by any law or governmental regulation or court decree or order applicable to it and such
other insurance, to such extent and against such hazards and liabilities, as is customarily
maintained by companies similarly situated, and, upon request of the Purchasers, furnish to the
Purchasers, a certificate setting forth in reasonable detail the nature and extent of all insurance
maintained by the Issuers and Guarantors. The Issuers and Guarantors shall cause each issuer of an
insurance policy to provide the Purchasers with an endorsement (i) providing that 30 days’ notice
will be given to the Purchasers prior to any cancellation of, material reduction or change in
coverage provided by or other material modification to such policy and (ii) reasonably acceptable
in all other respects to the Purchasers. Unless the Issuers and Guarantors provide Purchasers with
evidence of the insurance coverage required by this Agreement, the Purchasers may purchase
insurance at the Issuers’ expense. The Issuers may later cancel any insurance purchased by the
Purchasers, but only after providing the Purchasers with evidence that the Issuers have obtained
insurance as required by this Agreement. If the Purchasers purchase insurance, the Issuers will,
jointly and severally, be responsible for the costs of that insurance including interest and any
other charges that may be imposed with the placement of the insurance, until the effective date of
the cancellation or expiration of the insurance. The costs of the insurance may be added to the
principal amount of the Notes or other obligations owing hereunder. The costs of the insurance may
be more than the cost of the insurance the Issuers or Guarantors may be able to obtain on their
own.

     7.8. Payment of Obligations. The Issuers shall, and shall cause their Subsidiaries
to, pay, discharge and perform as the same shall become due and payable or required to be
performed, the following obligations and liabilities:

     7.8.1. all material tax liabilities, assessments and governmental charges or levies
upon it or its properties or assets, unless the same are being contested in good faith by
appropriate proceedings diligently prosecuted which stay the enforcement of any Lien and for
which adequate reserves in accordance with GAAP are being maintained by the Issuers or such
Subsidiary;

     7.8.2. all lawful claims which, if unpaid, would by law become a Lien (other than a
Permitted Lien) upon its Property unless the same are being contested in good faith by
appropriate proceedings diligently prosecuted which stay the imposition or enforcement of
the Lien and for which adequate reserves in accordance with GAAP are being maintained by the
Issuers;

     7.8.3. all Indebtedness (other than Indebtedness evidenced by the Senior Credit
Documents), as and when due and payable, but subject to any subordination provisions
contained herein and/or in any instrument or agreement evidencing such Indebtedness, except
to the extent such non-payment would not result in an Event of Default under Section 11.3;
and

     7.8.4. the performance of all obligations under any Contractual Obligation (other than
the Senior Credit Documents) to which the Issuers or any of their Subsidiaries is bound, or
to which it or any of its properties is subject, including the Notes Documents,

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except where the failure to perform would not reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect.

     7.9. Compliance with Laws. Comply, and cause each other Issuer to comply, in all
material respects with all applicable laws, rules, regulations, decrees, orders, judgments,
licenses and permits, except where failure to comply could not reasonably be expected to have a
Material Adverse Effect; (b) without limiting clause (a) above, ensure, and cause each
other Issuer to ensure, that no person who owns a controlling interest in or otherwise controls a
Issuer is or shall be (i) listed on the Specially Designated Nationals and Blocked Person List
maintained by the Office of Foreign Assets Control (“OFAC”), Department of the Treasury,
and/or any other similar lists maintained by OFAC pursuant to any authorizing statute, Executive
Order or regulation or (ii) a person designated under Section 1(b), (c) or (d) of Executive Order
No. 13224 (September 23, 2001), any related enabling legislation or any other similar Executive
Orders, (c) without limiting clause (a) above, comply, and cause each other Issuer to
comply, with all applicable Bank Secrecy Act (“BSA”) and anti-money laundering laws and
regulations and (d) pay, and cause each other Issuer to pay, prior to delinquency, all taxes and
other governmental charges against it or any Collateral, as well as claims of any kind which, if
unpaid, could reasonably be expected to become a Lien on any of its property; provided that
the foregoing shall not require any Issuer to pay any such tax or charge so long as it shall
contest the validity thereof in good faith by appropriate proceedings and shall set aside on its
books adequate reserves with respect thereto in accordance with GAAP and, in the case of a claim
which could become a Lien on any collateral, such contest proceedings shall stay the foreclosure of
such Lien or the sale of any portion of the collateral to satisfy such claim.

     7.10. Inspection of Property and Books and Records. The Issuers shall maintain and
shall cause each of their Subsidiaries to maintain proper books of record and account, in which
true and correct entries, in all material respects, in conformity with GAAP consistently applied
shall be made of all material financial transactions and matters involving the assets and business
of the Issuers and such Subsidiaries. After the occurrence and during the continuance of an Event
of Default, the Issuers shall permit, and shall cause each of their Subsidiaries to permit,
representatives and independent contractors of the Noteholders (at the expense of the Issuers), to
visit and inspect any of their respective Properties, to examine their respective corporate,
financial and operating records, and make copies thereof or abstracts therefrom, and to discuss
their respective affairs, finances and accounts with their respective directors, officers, and
independent public accountants, at such reasonable times during normal business hours and as often
as may be reasonably desired, upon reasonable advance notice to the Issuers; provided, however, a
Responsible Officer of the Issuers shall be afforded the opportunity to attend any discussions with
any independent public accountants (a “Issuers Inspection Right”). In addition, in the
absence of an Event of Default, each of Sankaty and ACAS shall have one Issuers Inspection Right
per year. If either of Sankaty or ACAS elects not to use their Issuers Inspection Right, the other
may, with the written authorization of the Purchaser electing not to use their Issuers Inspection
Right in such year, use such Issuers Inspection Right. Fees paid by the Issuers under this Section
7.10 in connection with the Issuers Inspection Right shall not exceed $10,000 plus out-of-pocket
expenses per visit.

     7.11. Use of Proceeds. The Issuers shall use the proceeds of the Notes only for the
purposes set forth in Section 2.6 hereof.

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     7.12. Solvency. The Issuers and Guarantors taken as a whole shall at all times be
Solvent.

     7.13. Further Assurances.

     7.13.1. The Issuers shall ensure that all written information (other than proposed
budgets and projections), exhibits and reports furnished to the Noteholders, when taken as a
whole, do not and will not contain any untrue statement of a material fact and do not and
will not omit to state any material fact or any fact necessary to make the statements
contained therein not materially misleading in light of the circumstances in which made, and
will promptly disclose to the Noteholders (provided that the Issuers shall not be required
to deliver such notice to more than five Noteholders, it being understood that for this
purpose, funds managed by the same adviser or an Affiliate of such adviser shall be deemed
to constitute one Noteholder) and correct any defect or error that may be discovered therein
or in any Securities Document or in the execution, acknowledgement or recordation thereof to
the extent necessary to disclose new or changed facts or circumstances, or to correct a
defect or error, the non-disclosure of which would result in the representations and
warranties set forth in Article 5 not being true and correct; provided that delivery or
receipt of such subsequent disclosure shall not constitute a waiver by the Noteholders or a
cure of any Default or Event of Default resulting in connection with the matters disclosed.

     7.13.2. The Issuers shall promptly inform the Noteholders (provided that the Issuers
shall not be required to deliver such notice to more than five Noteholders, it being
understood that for this purpose, funds managed by the same adviser or an Affiliate of such
adviser shall be deemed to constitute one Noteholder) of the creation or acquisition of any
direct or indirect Subsidiary and cause each such direct or indirect Subsidiary that is
organized or formed under the laws of the United States or any state thereof to execute a
guarantee of the Notes in a form reasonably acceptable to the Required Security Holders.

ARTICLE 8

NOTE NEGATIVE COVENANTS

     The Issuers covenant and agree, for the benefit of the Purchasers, that so long as any Notes
remain outstanding:

     8.1. Limitation on Liens. The Issuers shall not, and shall not suffer or permit any
of their Subsidiaries to, directly or indirectly, make, create, incur, assume or suffer to exist
any Lien upon or with respect to any part of its Property, whether now owned or hereafter acquired,
other than the following (“Permitted Liens”):

     8.1.1. Liens securing the Senior Indebtedness and other Obligations under the Senior
Credit Documents.

     8.1.2. any Lien existing on the Property of the Issuers or their Subsidiaries on the
Closing Date and set forth in Schedule 8.1 securing Indebtedness outstanding on such

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date and permitted by Section 8.5.3, including replacement Liens on the Property
currently subject to such Liens securing Indebtedness permitted by Section 8.5.3;

     8.1.3. Liens for taxes, fees, assessments or other governmental charges (i) which are
not delinquent or remain payable without penalty, or (ii) the non-payment of which is
permitted by Section 7.8;

     8.1.4. carriers’, warehousemen’s, mechanics’, landlords’, materialmen’s, repairmen’s or
other similar Liens arising in the Ordinary Course of Business which are not delinquent for
more than ninety (90) days or remain payable without penalty or which are being contested in
good faith and by appropriate proceedings diligently prosecuted, which proceedings have the
effect of preventing the forfeiture or sale of the Property subject thereto and for which
adequate reserves in accordance with GAAP are being maintained;

     8.1.5. Liens (other than any Lien imposed by ERISA) consisting of pledges or deposits
required in the Ordinary Course of Business in connection with workers’ compensation,
unemployment insurance and other social security legislation or to secure the performance of
tenders, statutory obligations, surety, stay, customs and appeals bonds, bids, leases,
governmental contract, trade contracts, performance and return of money bonds and other
similar obligations (exclusive of obligations for the payment of borrowed money) or to
secure liability to insurance carriers;

     8.1.6. Liens consisting of judgment or judicial attachment liens, provided that the
enforcement of such Liens is effectively stayed and all such Liens secure claims in the
aggregate at any time outstanding not exceeding $200,000;

     8.1.7. easements, rights-of-way, zoning and other restrictions, minor defects or other
irregularities in title, and other similar encumbrances incurred in the Ordinary Course of
Business which, either individually or, in the aggregate, do not materially detract from the
value of the Property subject thereto or interfere in any material respect with the ordinary
conduct of the businesses of the Issuers and their Subsidiaries;

     8.1.8. Liens on any Property acquired or held by the Issuers or their Subsidiaries in
the Ordinary Course of Business, securing Indebtedness incurred or assumed for the purpose
of financing (or refinancing) all or any part of the cost of acquiring such Property and
permitted under Section 8.5.4; provided that (i) any such Lien attaches to
such Property concurrently with or within ninety (90) days after the acquisition thereof,
(ii) such Lien attaches solely to the Property so acquired in such transaction, and (iii)
the principal amount of the debt secured thereby does not exceed 100% of the cost of such
Property (including any shipping and installation costs);

     8.1.9. Liens securing Capital Lease Obligations permitted under subsection 8.5.4;

     8.1.10. any interest or title of a lessor, sublessor, licensor or sublicensor under any
lease or non-exclusive license permitted by this Agreement;

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     8.1.11. Liens arising from precautionary uniform commercial code financing statements
filed under any lease permitted by this Agreement;

     8.1.12. Liens on insurance policies and the proceeds thereof incurred in connection
with the financing of insurance premiums in the ordinary course of business;

     8.1.13. Liens in favor of collecting banks arising under Section 4-210 of the UCC;

     8.1.14. Liens encumbering customary initial deposits and margin deposits, and similar
Liens and margin deposits, and similar Liens attaching to commodity trading accounts or
other brokerage accounts incurred in the Ordinary Course of Business consistent with past
practices, to the extent not interfering with the Parent or any of its Subsidiaries;

     8.1.15. licenses, sublicenses, leases or subleases of real property or intellectual
property granted by the Issuers (as lessor or licensor) to third Persons in the Ordinary
Course of Business consistent with past practices;

     8.1.16. banker’s Liens and rights of set-off of financial institutions arising in
connection with items deposited in accounts maintained at such financial institutions and
subsequently unpaid and unpaid fees and expenses that are charged to the Parent or any of
its Subsidiaries by such financial institutions in the Ordinary Course of Business of the
maintenance and operation of such accounts;

     8.1.17. Liens deemed to exist in connection with repurchase agreements and other
similar Investments to the extent such repurchase agreements and/or Investments are
permitted under Section 8.4 hereof;

     8.1.18. other Liens not described above securing obligations other than Indebtedness,
provided such Liens do not secure obligations in excess of $2,000,000 in the aggregate at
any one time; and

     8.1.19. Liens in favor of customs and revenue authorities which secure payment of
customs duties in connection with the importation of goods.

     8.2. Disposition of Assets. The Issuers shall not, and shall not suffer or permit any
of their Subsidiaries to, directly or indirectly, sell, assign, lease, convey, transfer or
otherwise dispose of (whether in one or a series of transactions) any Property (including accounts
and notes receivable, with or without recourse) or enter into any agreement to do any of the
foregoing, except:

     8.2.1. (i) dispositions of inventory and use of cash, all in the Ordinary Course of
Business, (ii) dispositions of used, worn-out or surplus equipment in the Ordinary Course of
Business and (iii) leasing, subleasing, licensing or sublicensing of intellectual property,
or real or personal property to third parties, in each case, in the Ordinary Course of
Business consistent with past practices, to the extent not interfering with the Issuers or
any of their Subsidiaries;

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     8.2.2. dispositions not otherwise permitted hereunder which are made for fair market
value and the mandatory prepayment in the amount of the Net Proceeds of such disposition is
made as provided in the Senior Credit Agreement and Section 3.2.4 of this Agreement,
including the sale by Sargent Truck of the owned real property of Sargent Truck located in
Saginaw, Michigan for at least fair market value; provided, that (i) at the time of
any disposition, no Event of Default shall exist or shall result from such disposition, (ii)
at least seventy-five percent (75%) of the aggregate sales price from such disposition shall
be paid in cash, and (iii) the aggregate fair market value of all assets so sold by the
Issuers and their Subsidiaries, together, does not exceed five percent (5%) of the net book
value of the consolidated assets of the Issuers as of the last day of the preceding fiscal
year, and (iv) after giving effect to any such disposition over $200,000, the Issuers are in
compliance on a pro forma basis with the covenants set forth in Article 9, recomputed for
the most recent quarter for which financial statements have been delivered;

     8.2.3. sales, discounts or write-offs of overdue Accounts for collection in the
Ordinary Course of Business consistent with past practices;

     8.2.4. sales or other dispositions of Cash Equivalents in the Ordinary Course of
Business;

     8.2.5. the granting of Permitted Liens; and

     8.2.6. sales or other dispositions expressly permitted pursuant to Section 8.3.

     8.3. Consolidations and Mergers. The Issuers shall not, and shall not suffer or
permit any of their Subsidiaries to, merge, consolidate with or into, or convey, transfer, lease or
otherwise dispose of (whether in one transaction or in a series of transactions) all or
substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any
Person, except as provided in Section 8.10 herein and, upon not less than five (5) Business Days
prior written notice to the Noteholders, (i) any Subsidiary of either Issuers may merge with, or
dissolve or liquidate into, either Issuers or a Wholly-Owned Subsidiary of either Issuers, provided
that the respective Issuers or such Wholly-Owned Subsidiary shall be the continuing or surviving
entity and (ii) any Subsidiary of the Parent may merge with, or dissolve or liquidate into a
Wholly-Owned Subsidiary of the Parent, provided that the Wholly-Owned Subsidiary shall be the
continuing or surviving entity.

     8.4. Loans and Investments. The Issuers shall not and shall not suffer or permit any
of their Subsidiaries to (i) purchase or acquire, or make any commitment to purchase or acquire any
capital stock, equity interest, or any obligations or other securities of, or any interest in, any
Person, including the establishment or creation of a Subsidiary after the Closing Date, or (ii)
make or commit to make any Acquisitions, or any other acquisition of all or substantially all of
the assets of another Person, or of any business or division of any Person, including without
limitation, by way of merger, consolidation or other combination or (iii) make or commit to make
any advance, loan, extension of credit or capital contribution to or any other investment in, any
Person including any Affiliate of the Issuers or any Subsidiary of the Issuers, but excluding trade
payables, accrued operating expenses, prepaid operating expenses and Accounts

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Receivable, in each instance, incurred, made or arising in the Ordinary Course of Business
consistent with past practices (the items described in clauses (i), (ii) and (iii) are referred to
as “Investments”), except for:

     8.4.1. Investments in cash and Cash Equivalents;

     8.4.2. extensions of credit in the Ordinary Course of Business by (i) the Issuers to
any of its Wholly-Owned Subsidiaries, or (ii) any Wholly-Owned Subsidiary of the Issuers to
the Issuers or to any other Wholly-Owned Subsidiary of the Issuers;

     8.4.3. (i) travel and similar advances to employees or independent contractors in the
Ordinary Course of Business and (ii) other loans to independent contractors and other
service providers in the Ordinary Course of Business, in the case of clause (ii), not to
exceed $500,000 in the aggregate at any time outstanding;

     8.4.4. Investments in securities of Account Debtors received pursuant to any plan of
reorganization or similar arrangement upon the bankruptcy or insolvency of such account
debtors;

     8.4.5. Investments in the form of intercompany loans made by the Issuers to Parent to
the extent that, at the time such loan is made, a Restricted Payment from the Issuers to
Parent would be permitted under Section 8.11 and provided that (i) the proceeds of such
loans are used for the purposes specified in Section 8.11 and (ii) such loan shall be
treated as a Restricted Payment for purposes of this Agreement, including, without
limitation, determining compliance with the provisions of Section 8.11 relating to the type
of such Restricted Payment and Section 9.3;

     8.4.6. contributions by Parent to the capital of the Issuers;

     8.4.7. Investments constituting Indebtedness permitted by Section 8.5;

     8.4.8. Contingent Obligations permitted by Section 8.9 or Liens permitted by
Section 8.1;

     8.4.9. the forgiveness or capitalization by the Issuers or any of their Subsidiaries of
Indebtedness owed to the Issuers or such Subsidiary by the Issuers or any other Subsidiary
of the Issuers organized or formed under the laws of the United States or any jurisdiction
thereof in the Ordinary Course of Business;

     8.4.10. Hedging Agreements entered into in the Ordinary Course of Business, (i) on an
unsecured basis, for bona-fide hedging purposes and not for speculation or (ii) pursuant to
the Senior Credit Agreement or otherwise if provided by a lender under the Senior Credit
Agreement;

     8.4.11. deposit accounts maintained in the Ordinary Course of Business;

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     8.4.12. deposits made in the Ordinary Course of Business securing obligations or
performance under contracts, such as in connection with real estate or personal property
leases;

     8.4.13. promissory notes and other similar non-cash consideration received by the
Issuers or any of their Subsidiaries in connection with dispositions permitted under Section
8.2.2;

     8.4.14. the establishment or creation of domestic Wholly-Owned Subsidiaries by the
Issuers or any of its domestic Wholly-Owned Subsidiaries after the Closing Date to the
extent the Issuers and their Subsidiaries shall have complied with the provisions of Section
7.13.2 in respect thereof and no Default or Event of Default exists or otherwise would arise
or result therefrom, provided that, contributions to capital and extensions of credit to
such Subsidiaries shall be subject to the provisions of this Agreement;

     8.4.15. the acquisition by the Issuers or any of its domestic Wholly-Owned Subsidiaries
of all or substantially all of the assets of another domestic business organization that is
a Wholly-Owned Subsidiary prior to such acquisition, or of any business or division of such
domestic Wholly-Owned Subsidiary, so long as no Event of Default exists or otherwise would
result therefrom;

     8.4.16. Investments existing on the Closing Date and set forth in Schedule 8.4;
and

     8.4.17. Investments in Newco (as defined in Section 8.10).

     8.5. Limitation on Indebtedness. The Issuers shall not, and shall not suffer or
permit any of their Subsidiaries to, create, incur, assume, suffer to exist, or otherwise become or
remain directly or indirectly liable with respect to, any Indebtedness, except:

     8.5.1. Indebtedness incurred pursuant to the Senior Credit Agreement, the principal
amount of which is not to exceed the Maximum Senior Debt Amount.

     8.5.2. Indebtedness consisting of Contingent Obligations described in clause (i) of the
definition thereof and permitted pursuant to Section 8.9;

     8.5.3. Indebtedness existing on the Closing Date and set forth in Schedule 8.5
including extensions and refinancings thereof which do not increase the principal amount of
such Indebtedness as of the date of such extension or refinancing;

     8.5.4. Indebtedness not to exceed $2,000,000 in the aggregate at any time outstanding,
consisting of Capital Lease Obligations or secured by Liens permitted by subsection 8.1.8;

     8.5.5. unsecured intercompany Indebtedness permitted pursuant to Section 8.4.2;

     8.5.6. Indebtedness incurred pursuant to the Thayer Earn-Out Guarantee;

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     8.5.7. Indebtedness evidenced by the Notes;

     8.5.8. Indebtedness incurred in respect of netting services and overdraft protection in
connection with deposit accounts;

     8.5.9. Indebtedness incurred in connection with the financing of insurance premiums in
the Ordinary Course of Business;

     8.5.10. unsecured Subordinated Indebtedness evidenced by debt securities issued by the
Issuers constituting Excluded Issuances; provided, that such Indebtedness shall be
subordinated in a manner acceptable to the Noteholders and contain other terms and
conditions acceptable to the Noteholders which terms shall, in any case, (i) not provide for
any acceleration rights in favor of the holder thereof until such time as the Note
Obligations (other than contingent indemnification obligations to the extent no claim giving
rise thereto has been asserted) have been repaid in full in cash, (ii) provide that no
payments of interest, principal or other amounts shall be made thereon until a date that is
at least six months after the date on which all Note Obligations (other than contingent
indemnification obligations to the extent no claim giving rise thereto has been asserted)
are to be repaid in full in cash and (iii) not include any covenants, other than covenants
to pay amounts owing thereunder;

     8.5.11. solely for the period commencing on the Closing Date through the date ninety
(90) days following the Closing Date, Indebtedness arising under those four (4) certain
letters of credit, numbers 1171, 1183, 1189 and 1190, in the aggregate face amount of
$135,000 issued by Katahdin Trust Company for the account of certain Sargent Companies;
provided, that such letters of credit shall not be renewed, extended or otherwise modified
following the date hereof; and

     8.5.12. other unsecured Indebtedness not exceeding in the aggregate at any time
outstanding $200,000.

     8.6. Transactions with Affiliates. The Issuers shall not, and shall not suffer or
permit any of their Subsidiaries to, enter into any transaction with any Affiliate of the Issuers
or of any such Subsidiary, except:

     8.6.1. as expressly permitted by this Agreement;

     8.6.2. in the Ordinary Course of Business and pursuant to the reasonable requirements
of the business of such Issuer or such Subsidiary provided that, in the case of this Section
8.6.2, upon fair and reasonable terms no less favorable to the Issuer or such Subsidiary
than would be obtained in a comparable arm’s-length transaction with a Person not an
Affiliate of the Issuer or such Subsidiary and which are disclosed in writing to the
Purchasers;

     8.6.3. transactions entered into on or prior to the Closing Date and disclosed on
Schedule 8.6; and

     8.6.4. transactions contemplated by the Management Agreement.

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     8.7. Management Fees and Compensation. The Issuers shall not, and shall not permit
any of their Subsidiaries to pay any management, consulting or similar fees to any of their
Affiliates or to any officer, director or employee of any Issuer or any of their Subsidiaries or
any of their Affiliates except (a) payment of reasonable compensation to officers and employees for
actual services rendered to the Parent and its Subsidiaries in the Ordinary Course of Business, (b)
payment of reasonable directors’ fees and reimbursement of actual out-of-pocket expenses incurred
in connection with attending board of director meetings not to exceed in the aggregate, with
respect to all such items, $200,000 in any fiscal year of the Issuers, (c) so long as (x) no Event
of Default exists or would result therefrom, and (y) the Leverage Ratio, for each of not less than
two consecutive Computation Periods, commencing with the Computation Period ending March 31, 2007,
is less than 4.75 to 1.0, the Issuers may pay management fees (or make distributions to Parent, if
concurrently used by Parent to make such payments) to Eos and Sponsor or any Affiliate of Eos or
Sponsor (including without limitation Thayer Management) pursuant to the terms of the Management
Agreement; provided, that, subject to the additional provisions of this clause (c),
(I) if on the last day of any Computation Period occurring following satisfaction of the terms of
the preceding clause (y) the Leverage Ratio as of such day exceeds 4.75 to 1.0, the Issuers may not
thereafter pay any such management fees (or make distributions to Parent in respect thereof) until
such date that the Leverage Ratio as of the last day of any future Computation Period is less than
4.75 to 1.0, (II) if on the last day of any Computation Period occurring following satisfaction of
the terms of the preceding clause (y) the Leverage Ratio as of such day is less than 4.0 to 1.0
(computed on a pro forma basis after giving effect to the payments contemplated by this clause
(II)), Issuers may pay any management fees (or make distributions to Parent in respect thereof)
that have accrued but remain unpaid due to the provisions of this clause (c) and (III) any
management fees described in this clause (c) that have accrued but not been paid due to the
provisions hereof shall continue to accrue, and may be paid as provided in this clause (c).

     8.8. Use of Proceeds. The Issuers shall not and shall not suffer or permit any of
their Subsidiaries to use any portion of the proceeds of the notes, directly or indirectly, to
purchase or carry Margin Stock or repay or otherwise refinance Indebtedness of the Issuers or
others incurred to purchase or carry Margin Stock, or otherwise in any manner which is in
contravention of any Requirement of Law or in violation of this Agreement.

     8.9. Contingent Obligations. The Issuers shall not, and shall not suffer or permit
any of their Subsidiaries to, create, incur, assume or suffer to exist any Contingent Obligations
except in respect of the Obligations and except:

     8.9.1. endorsements for collection or deposit and standard contractual indemnities
entered into in the Ordinary Course of Business;

     8.9.2. Hedging Agreements entered into in the Ordinary Course of Business for bona fide
hedging purposes and not for speculation or as otherwise required under the Senior Credit
Documents in effect on the Closing Date;

     8.9.3. Contingent Obligations of the Issuers and their Subsidiaries existing as of the
Closing Date and listed in Schedule 8.9, including extensions and renewals thereof

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which do not increase the amount of such Contingent Obligations as of the date of such
extension or renewal;

     8.9.4. Contingent Obligations incurred in the Ordinary Course of Business with respect
to surety and appeal bonds, performance bonds and other similar obligations;

     8.9.5. Contingent Obligations arising under indemnity agreements to title insurers to
cause such title insurers to issue to the Agent title insurance policies;

     8.9.6. Contingent Obligations arising with respect to customary indemnification
obligations in favor of (i) sellers in connection with Acquisitions permitted hereunder and
(ii) purchasers in connection with dispositions permitted under Section 7.2.2; and

     8.9.7. Contingent Obligations arising under letters of credit under the Senior Credit
Agreement and other letters of credit which are the subject of a letter of credit
participation agreement under the Senior Credit Agreement.

     8.9.8. Contingent Obligations incurred for the benefit of the Issuers or any of its
Wholly-Owned Subsidiaries if the primary obligation is expressly permitted by this
Agreement.

     8.9.9. Contingent Obligations constituting of guarantees of obligations under the
Senior Credit Documents, this Agreement and the Notes.

     8.10. Business Activities; Issuance of Equity; Subsidiaries. Not, and not permit any
other Issuer to, issue any equity securities other than any issuance of shares of Parent’s common
equity securities. Not, and not permit any other Issuer to, form or acquire any Subsidiary, other
than as permitted by Section 8.4.14.

     8.11. Compliance with ERISA. The Issuers shall not, and shall not suffer or permit
any of their Subsidiaries to:

     8.11.1. terminate any Plan subject to Title IV of ERISA so as to result in any material
liability to the Issuers;

     8.11.2. permit to exist any ERISA Event or any other event or condition, which would
reasonably be expected to have a Material Adverse Effect;

     8.11.3. make a complete or partial withdrawal (within the meaning of ERISA Section
4201) from any Multiemployer Plan so as to result in any material liability to any Issuer;

     8.11.4. enter into any new Plan or modify any existing Plan so as to increase its
obligations thereunder which would reasonably be expected to have a Material Adverse Effect;
or

     8.11.5. permit the present value of all nonforfeitable accrued benefits under any Plan
(using the actuarial assumptions utilized by the PBGC upon termination of a Plan)

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materially to exceed the fair market value of Plan assets allocable to such benefits,
all determined as of the most recent valuation date for each such Plan.

     8.12. Restricted Payments. The Issuers shall not, and shall not suffer or permit any
of their Subsidiaries to, (i) declare or make any dividend payment or other distribution of assets,
properties, cash, rights, obligations or securities on account of any shares of any class of its
capital stock, partnership interests, membership interests or other equity securities, (ii)
purchase, redeem or otherwise acquire for value any shares of its capital stock, partnership
interests, membership interests or other equity securities or any warrants, rights or options to
acquire such shares, interests or securities now or hereafter outstanding or (iii) make any payment
or prepayment of principal of, premium, if any, interest, fees, redemption, exchange, purchase,
retirement, defeasance, sinking fund or similar payment with respect to, Subordinated Indebtedness
(the items described in clauses (i), (ii) and (iii) above are referred to as “Restricted
Payments”); except that any Wholly-Owned Subsidiary of the Issuers may declare and pay
dividends to the Issuers or any Wholly-Owned Subsidiary of the Issuers, and except that the Issuers
may:

     8.12.1. declare and make dividend payments or other distributions payable solely in its
common stock or other equity securities;

     8.12.2. with respect to Preferred Stock, make annual dividend payments to Parent so
Parent can pay dividends as contemplated by Parent’s Certificate of Incorporation as
amended, but only if, after giving pro forma effect to such dividend payment the Issuers are
in compliance with the covenants set forth in Article 9.

     8.12.3. make distributions to Parent which are immediately used by Parent to redeem
from management stockholders shares of Parent common stock or warrants or options to acquire
any such shares provided all of the following conditions are satisfied:

     8.12.3.1. no Default or Event of Default has occurred and is continuing or
would arise as a result of such Restricted Payment;

     8.12.3.2. after giving effect to such Restricted Payment, the Issuers is in
compliance on a pro forma basis with the covenants set forth in Article 9,
recomputed for the most recent month for which financial statements have been
delivered;

     8.12.3.3. the aggregate Restricted Payments permitted by this Section 8.12.2
in any fiscal year of the Issuers shall not exceed $500,000; provided that the
foregoing limits shall not apply to amounts expended pursuant to this clause solely
from (x) the proceeds of key man life insurance to the extent the proceeds are used
to repurchase the equity interests in Parent from the deceased employee or such
deceased employee’s estate or spouse or (y) the proceeds of Excluded Issuances to
the extent such issuances are permitted pursuant to the terms of this Agreement; and

     8.12.4. in the event the Issuers files a consolidated income tax return with Parent,
make distributions to Parent to permit Parent to pay federal and state income taxes then

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due and owing, franchise taxes and other similar licensing expenses incurred in the
Ordinary Course of Business provided, that the amount of such distribution shall not be
greater, nor the receipt by the Issuers of tax benefits less, than they would have been had
the Issuers not filed a consolidated return with Parent;

     8.12.5. make distributions to Parent at such times and in such amounts as are necessary
to permit payment in the Ordinary Course of Business of taxes, accounting and administrative
expenses (including without limitation the payment of reasonable director fees and expenses
and premiums with respect to directors and officers liability insurance policies to the
extent permitted pursuant to Section 8.7(b)) payable by Parent.

     8.13. Change in Business. The Issuers shall not, and shall not permit any of their
Subsidiaries to, engage in any material line of business substantially different from those lines
of business carried on by it on the date hereof or any business similarly related to or which
constitutes a reasonable extension thereof.

     8.14. Change in Structure. Except as expressly permitted under Section 8.3, the
Issuers shall not and shall not permit any of their Subsidiaries to, make any material changes in
its equity capital structure (including in the terms of its outstanding stock), or amend any of its
Charter Documents in any material respect or in any respect adverse to the Noteholders in their
capacity as such.

     8.15. Accounting Changes. The Issuers shall not, and shall not suffer or permit any
of their Subsidiaries to, make any significant change in accounting treatment or reporting
practices, except as required by GAAP, or change the fiscal year of the Issuers or of any of their
consolidated Subsidiaries.

     8.16. No Negative Pledges. The Issuers will not, and will not permit any of their
Subsidiaries, directly or indirectly, to create or otherwise cause or suffer to exist or become
effective any consensual restriction or encumbrance of any kind on the ability of any such
Subsidiary to pay dividends or make any other distribution on any of such Subsidiary’s equity
securities or to pay fees, including management fees, make other payments and distributions or
extend loans or advances to the Issuers or any of their Subsidiaries, or transfer any of its
properties or assets to the Issuers or any of their Subsidiaries other than restrictions contained
in the Senior Credit Agreement or this Agreement. The Issuers will not, and will not permit any of
their Subsidiaries, directly or indirectly, to enter into, assume or become subject to any
Contractual Obligation (other than the Senior Credit Documents and this Agreement) prohibiting or
otherwise restricting the existence of any Lien upon any of its assets in favor of the Noteholders,
whether now owned or hereafter acquired except in connection with any document or instrument
governing Liens permitted pursuant to Sections 8.1.8 and 8.1.9 provided that any such restriction
contained therein relates only to the asset or assets subject to such permitted Liens or licenses
and contracts providing that the granting of such Lien in the right, title or interest of the
Issuers or their Subsidiaries therein would be prohibited and would, in and of itself, cause or
result in a default thereunder enabling another Person party to such license or contract to enforce
any remedy with respect thereto.

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     8.17. OFAC. None of the Issuers or any Subsidiary of any Issuer (i) will become a
person whose property or interests in property are blocked or subject to blocking pursuant to
Section 1 of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting
Transactions With Persons Who Commit, Threaten to Commit or Support Terrorism (66 Fed. Reg.
49079(2001), (ii) will engage in any dealings or transactions prohibited by Section 2 of such
executive order, or be otherwise, to the knowledge of a Responsible Officer of the Issuers,
associated with any such person in any manner violative of Section 2, or (iii) will otherwise
become a person on the list of Specially Designated Nationals and Blocked Persons or subject to the
limitations or prohibitions under any other OFAC regulation or executive order.

     8.18. Limitation on Activities of Parent. The Parent shall not engage in any business
activity other than (i) its ownership of the equity securities of the Issuers and activities
incidental thereto, (ii) activities incidental to maintenance of its corporate existence and (iii)
performance of its obligations under the Documents to which it is a party.

     8.19. Antilayering. The Issuers will not, and will not permit any of their
Subsidiaries to, incur or in any fashion become or remain liable with respect to any Indebtedness
which, by its terms, is subordinated to the Senior Indebtedness of the Issuers or such Subsidiary
and which is not expressly subordinated to the Note Obligations on terms satisfactory to the
Required Security Holders.

     8.20. Amendment of Material Documents.

     8.20.1. The Parent will not, and will not permit any of its Subsidiaries to, consent to
or request any amendment, modification or supplement to or waiver of any provision of this
Agreement, the Management Agreement or any of their Charter Documents in a manner that would
reasonably be expected to affect the interests of the Noteholders (in their capacities as
such) materially and adversely without in each case having obtained the specific prior
written consent of the Required Security Holders, which consent shall not be unreasonably
withheld.

     8.20.2. Without the consent of the Required Security Holders, which consent shall not
be unreasonably withheld, the Issuers will not, and will not permit any of their
Subsidiaries to, consent to or request any amendment, modification or supplement to or
waiver of any provision of the Senior Credit Documents to the extent such consent,
amendment, modification, supplement or waiver is otherwise not permitted under the
Subordination Agreement.

     8.21. Observer Rights. For so long as any Notes remain outstanding, the Required
Security Holders will have the right to appoint two observers (the “Observers” and each an
“Observer”) to the boards of directors of the Parent and its Subsidiaries, and each
committee of the boards of directors of the Parent and its Subsidiaries (other than the
compensation and audit committees), who shall be entitled to attend all meetings of the boards of
directors and each committee of the boards of directors (other than the compensation and audit
committees) of the Parent and its Subsidiaries, and who shall receive all reports, meeting
materials, notices and other materials as and when provided to the board members; provided,
however, that the Parent and its Subsidiaries may exclude any Observer from portions of
meetings and from the receipt of

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reports, meeting materials, notices and other materials solely to the extent that (i) outside
counsel to the Parent and its Subsidiaries reasonably determines that the participation of any
Observer in such portions of meetings or the receipt of such materials by any Observer would result
in the loss of the attorney-client privilege by the Parent and its Subsidiaries with respect to the
underlying subject matter thereof or (ii) the underlying subject matter relates specifically to
actions to be taken by the Parent and its Subsidiaries with respect to the Notes. Notwithstanding
anything to the contrary in this Section 8.21, for so long as Sankaty (or any (a) Affiliate of
Sankaty, (b) trust or other securitization or financing vehicle of Sankaty, or (c) successor to
such trust’s or securitization vehicle’s rights and interests in and to any Note) holds any Notes
outstanding Sankaty will have the right to appoint one of such Observers and for so long as ACAS
(or any (a) Affiliate of ACAS, (b) trust or other securitization or financing vehicle of ACAS, or
(c) successor to such trust’s or securitization vehicle’s rights and interests in and to any Note)
holds any Notes outstanding ACAS will have the right to appoint one of such Observers. All of the
reasonable expenses of the Observers shall be paid by the applicable Issuers. The Issuers agree
that their boards of directors will meet at least quarterly.

     8.22. Fiscal Year. The Issuers will not, and will not permit their Subsidiaries to
change their respective fiscal year.

     8.23. Unconditional Purchase Obligations. The Issuers will not, and will not permit
any other Issuer to, enter into or be a party to any contract for the purchase of materials,
supplies or other property or services if such contract requires that payment be made by it
regardless of whether delivery is ever made of such materials, supplies or other property or
services.

     8.24. Additional Covenants. In the event that additional covenants which are not
included in the Senior Credit Agreement on the date hereof are, following the date hereof, added to
the Senior Credit Agreement or incorporated in any loan or credit agreement which replaces or
refinances the Senior Credit Agreement refinancing, such covenants shall be automatically deemed to
have been added to this Agreement for the benefit of the Purchasers, and shall be incorporated by
reference as if fully set forth, and the Purchasers shall be entitled to the benefit of any such
incorporated covenants from and after such incorporation; provided that any such additional
incorporated covenants that are financial covenants (e.g., performance or liquidity targets or
leverage or coverage ratios) shall be deemed to be incorporated into this Agreement as adjusted
such that the levels are 15% more lenient to the Issuers than the corresponding new covenant in the
Senior Credit Agreement or such replacement or refinancing facility.

ARTICLE 9

NOTE FINANCIAL COVENANTS

     The Issuers covenant and agree, for the benefit of the Purchasers, that so long as any Notes
remain outstanding:

     9.1. Leverage Ratio. The Issuers shall not permit its Leverage Ratio for the twelve
month period ending on any date set forth below to be greater than the maximum ratio set forth in
the table below opposite such date:

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	Date	 	Maximum Leverage Ratio
	 
	Each of March 31, 2007, June 30, 2007 and September
30, 2007

	 	6.55 to 1.00
	 
	 	 
	December 31, 2007

	 	5.50 to 1.0
	 
	 	 
	March 31, 2008

	 	5.25 to 1.0
	 
	 	 
	June 30, 2008

	 	5.0 to 1.0
	 
	 	 
	September 30, 2008

	 	4.75 to 1.0
	 
	 	 
	December 31, 2008

	 	4.40 to 1.0
	 
	 	 
	Each of March 31, 2009 and every March 31, June 30,
September 30 and December 31 thereafter

	 	4.15 to 1.00

“Leverage Ratio” shall be calculated in the manner set forth in such definition in Appendix
I.

     9.2. Fixed Charge Coverage Ratio. The Issuers shall not permit their Fixed Charge
Coverage Ratio for the twelve month period ending on any date set forth below to be less than the
minimum ratio set forth in the table below opposite such date:

	 	 	 
	Date	 	Minimum Fixed Charge Ratio
	 
	Each of March 31, 2007 and June 30, 2007

	 	0.90 to 1.00
	 
	 	 
	September 30, 2007

	 	0.95 to 1.00
	 
	 	 
	December 31, 2007

	 	1.00 to 1.00
	 
	 	 
	Each of March 31, 2008 and June 30, 2008

	 	1.00 to 1.00
	 
	 	 
	Each of September 30, 2008 and December 31, 2008

	 	1.05 to 1.00
	 
	 	 
	Each of March 31, 2009, June 30, 2009,
September 30, 2009 and December 31, 2009

	 	1.10 to 1.00
	 
	 	 
	Each March 31 and June 30, September 30 and
December 31 thereafter

	 	1.15 to 1.00

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“Fixed Charge Coverage Ratio” shall be calculated in the manner set forth in such definition in
Appendix I.

ARTICLE 10

EVENTS OF DEFAULT

     If one or more of the following events (herein referred to as “Events of Default”)
shall occur and be continuing:

     10.1. Payment Default. The Issuers shall (x) fail to pay, (i) any principal of, or
premium, if any, on the Notes when the same becomes due and payable, whether upon maturity,
prepayment, acceleration or otherwise (including any Applicable Premium thereon), (ii) any interest
on the Notes for a period of five consecutive Business Days after the same shall become due and
payable or (iii) any other amount due hereunder within 30 days after demand therefor, (y) fail to
prepay the Notes following receipt of a Change of Control Repurchase Notice as required under
Section 3.2.3 or (z) fail to make any offer to purchase Notes or prepayment required under Section
3.2.4 when required to be made or to timely consummate any such accepted offer; or

     10.2. Default Under Senior Indebtedness. (i) Any event of default shall have occurred
and be continuing with respect to the Senior Indebtedness beyond any applicable notice, grace or
cure period (which shall not exceed five (5) days) resulting from the failure of the Issuers to pay
as and when due any regularly scheduled payment, of principal of or interest on such Senior
Indebtedness to the extent the aggregate amount so not paid exceeds $100,000 (or $500,000 in the
event of a prepayment required under Section 6.2.2(b) of the Senior Credit Agreement) and such
event of default shall not have been irrevocably cured or irrevocably waived within thirty (30)
days after the occurrence of such event of default, or (ii) any default or event of default shall
have occurred with respect to the Senior Indebtedness beyond any applicable notice, grace or cure
period or waiver or extension thereof which default results in the acceleration of the Senior
Indebtedness; provided, that if, following any such event of default in respect of the Senior
Indebtedness described in the foregoing clause (i) or any acceleration of the Senior Indebtedness
described in the foregoing clause (ii), such event of default is irrevocably waived or otherwise
irrevocably cured after the applicable thirty (30) day period or such acceleration is irrevocably
rescinded, as the case may be, then, automatically, and without further action or notice, (x) the
Event of Default previously arising hereunder as a result thereof shall be deemed waived and (y)
any and all rights, remedies and actions exercised or taken by the Noteholders shall be rescinded
and terminated if, with respect to this clause (y), the Noteholder’s entitlement to exercise such
rights or take such actions is based solely on this Section 10.2; or

     10.3. Default Under Other Indebtedness. Other than as set forth in Section 10.1 or
10.2 above, any default or event of default shall have occurred with respect to (x) any other item
of

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Indebtedness of any Issuer or any Subsidiary (other than Senior Indebtedness) in excess of
$500,000 beyond any applicable notice, grace or cure period or waiver or extension thereof which is
either (i) a payment default or (ii) a non payment default resulting in the acceleration of such
Indebtedness; or

     10.4. Certain Covenants. The Issuer shall default in the performance or observance of
any covenant contained in Sections 8 or 9 of this Agreement; or

     10.5. Other Defaults. Any Issuer shall default in the performance or observance of
any covenant, agreement or condition of this Agreement (other than those described or referred to
in any other paragraph of this ARTICLE 10) and such default shall continue for more than 30 days
after the first to occur of (i) the president, chief executive officer, chief financial officer,
controller or other executive officer of any Issuer shall obtain actual knowledge of such default
or (ii) receipt by any Issuer of written notice of such default from the Required Security Holders;
or

     10.6. Breach of Representations or Warranties. Any representation or warranty made by
any Issuer in this Agreement or in any statement or certificate (other than budgets and
projections) at any time given by it in writing pursuant hereto or in connection herewith or
therewith shall (taken as a whole) be false or inaccurate in any material respect on the date as of
when made; or

     10.7. Involuntary Bankruptcy, Appointment of Receiver, etc. (a) A court having
jurisdiction in the premises shall enter a decree or order for relief in respect of any Issuer or
any Subsidiary in an involuntary case under the Bankruptcy Code or any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect in the United States or any other
jurisdiction, which decree or order is not stayed; or any other similar relief shall be granted and
remain unstayed under any applicable law; or (b) an involuntary case is commenced against any
Issuer or any of their Subsidiaries under any applicable bankruptcy, insolvency or other similar
law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises
for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer
having similar powers over any Issuer or any of their Subsidiaries or over all or a substantial
part of any of their respective properties, shall have been entered, or an interim receiver,
trustee or other custodian of any Issuer or any of their Subsidiaries for all or a substantial part
of their respective properties is involuntarily appointed; or a warrant of attachment, execution or
similar process is issued against any substantial part of the property of any Issuer or any of
their Subsidiaries, and the continuance of any such events in this clause (b) for 60 days unless
dismissed, bonded, stayed, vacated or discharged; or

     10.8. Voluntary Bankruptcy, Appointment of Receiver, etc. Any Issuer or any of their
Subsidiaries shall have an order for relief entered with respect to it or commence a voluntary case
under the Bankruptcy Code or any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect in the United States or any other jurisdiction, or shall consent to the entry
of an order for relief in an involuntary case, or to the conversion of an involuntary case to a
voluntary case, under any such law, or shall consent to the appointment of or taking possession by
a receiver, trustee or other custodian for all or a substantial part of its property; the making by
any Issuer or any of their Subsidiaries of any general assignment for the benefit of creditors; or

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the board of directors of any Issuer or any of their Subsidiaries (or any committee thereof)
adopts any resolution or otherwise authorizes any action to approve any of the foregoing; or

     10.9. Judgments and Attachments. One or more judgments or decrees shall be entered
against any Issuer or any of their Subsidiaries involving a liability (to the extent not paid or
covered by insurance) in excess of $500,000 for all such outstanding judgments and decrees and all
such judgments or decrees shall not have been paid, vacated, discharged or stayed or bonded pending
appeal within 60 days from the entry thereof,

     THEN, (i) upon the occurrence and during the continuance of any Event of Default described in
the foregoing Section 10.7 or 10.8 with respect to any Issuer or any of their Subsidiaries, the
unpaid principal amount of all Notes, together with accrued interest thereon, and, as liquidated
damages and not as a penalty, an amount equal to the Applicable Premium, shall automatically become
immediately due and payable, without presentment, demand, protest or other requirements of any
kind, all of which are hereby expressly waived by the Issuers, and (ii) upon the occurrence and
during the continuance of any other Event of Default, 45% of the Security Holders (the
“Declaring Security Holders”) may, upon written notice to the Issuers, declare the Notes
held by such Declaring Security Holders to be due and payable, whereupon the principal amount of
such Notes, together with accrued interest thereon, and as liquidated damages and not as a penalty,
an amount equal to the Applicable Premium then in effect, shall automatically become immediately
due and payable, without any other notice of any kind, and without presentment, demand, protest or
other requirements of any kind, all of which are hereby expressly waived by the Issuers;
provided, however, that if the principal of, premium, if any, and interest on such
Notes due otherwise than by such declaration plus any expenses due and payable hereunder have been
paid in full, and any and all Defaults (other than the nonpayment of principal and interest on the
Notes that shall have become due by such declaration; provided, for the avoidance of doubt, that
the nonpayment of principal and interest due on account of an Event of Default described in Section
10.1 (y) or (z) may be waived by the Required Security Holders) shall have been remedied or waived,
the Declaring Security Holders may (and if such Defaults arise solely on account of an acceleration
of Senior Indebtedness which has been rescinded, shall) waive all Defaults and rescind and annul
any such declaration and consequences.

ARTICLE 11

GUARANTEE

     11.1. Guarantee of Note Obligations. Each Issuer and Guarantor unconditionally
guarantees that the Note Obligations will be performed and paid in full in cash when due and
payable, whether at the stated or accelerated maturity thereof or otherwise, this guarantee being a
guarantee of payment and not of collectability and being absolute and in no way conditional or
contingent (the “Guarantee”). In the event any part of the Note Obligations shall not have
been so paid in full when due and payable, each Guarantor will, immediately upon notice by the
Required Security Holders or, without notice, immediately upon the occurrence of an Event of
Default under Section 10.7 or Section 10.8, pay or cause to be paid to each Noteholder such
Noteholder’s proportionate share of such Note Obligations which are then due and payable and
unpaid. The obligations of each Guarantor hereunder shall not be affected by the invalidity,
unenforceability or irrecoverability of any of the Note Obligations as against the Issuers, any
other guarantor thereof or any other Person. For purposes hereof, the Note Obligations shall be

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due and payable when and as the same shall be due and payable under the terms of this
Agreement or any other Securities Document notwithstanding the fact that the collection or
enforcement thereof may be stayed or enjoined under the Bankruptcy Code or other applicable law.
The guarantees provided for in this Section 11 are subordinate in right of payment to the Senior
Indebtedness in the manner and to the extent set forth in the Subordination Agreement.

     11.2. Continuing Obligation. Each Guarantor acknowledges that the Purchasers have
entered into this Agreement (and, to the extent that the Purchasers may enter into any future
Securities Document, will have entered into such agreement) in reliance on this Section 11 being a
continuing irrevocable agreement, and such Guarantor agrees that its guarantee may not be revoked
in whole or in part. The obligations of the Guarantors hereunder shall terminate when all of the
Note Obligations have been paid in full in cash and discharged; provided, however,
that:

     11.2.1. if a claim is made upon the Noteholders at any time for repayment or recovery
of any amounts or any property received by the Noteholders from any source on account of any
of the Note Obligations and the Noteholders repay or return any amounts or property so
received (including interest thereon to the extent required to be paid by the Noteholders),
or

     11.2.2. if the Noteholders become liable for any part of such claim by reason of (i)
any judgment or order of any court or administrative authority having competent
jurisdiction, or (ii) any settlement or compromise of any such claim,

then the Guarantors shall remain liable under this Agreement for the amounts so repaid or property
so returned or the amounts for which the Noteholders become liable (such amounts being deemed part
of the Note Obligations) to the same extent as if such amounts or property had never been received
by the Noteholders, notwithstanding any termination hereof or the cancellation of any instrument or
agreement evidencing any of the Note Obligations. Not later than five days after receipt of notice
from the Required Security Holders, the Guarantors shall pay to each Noteholder, an amount equal to
the amount of such repayment or return for which each such Noteholder has so become liable.
Payments hereunder by a Guarantor may be required by the Noteholders on any number of occasions.

     11.3. Waivers with Respect to Note Obligations. Except to the extent expressly
required by this Agreement or any other Securities Document, each Guarantor waives, to the fullest
extent permitted by the provisions of applicable law, all of the following (including all defenses,
counterclaims and other rights of any nature based upon any of the following):

     11.3.1. presentment, demand for payment and protest of nonpayment of any of the Note
Obligations, and notice of protest, dishonor or nonperformance;

     11.3.2. notice of acceptance of this guarantee and notice that the Notes have been sold
by the Issuers hereunder in reliance on such Guarantor’s guarantee of the Note Obligations;

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     11.3.3. notice of any Default or of any inability to enforce performance of the
obligations of the Issuers or any other Person with respect to any Securities Document or
notice of any acceleration of maturity of any Note Obligations;

     11.3.4. demand for performance or observance of, and any enforcement of any provision
of this Agreement, the Note Obligations or any other Securities Document or any pursuit or
exhaustion of rights or remedies against the Issuers or any other Person in respect of the
Note Obligations or any requirement of diligence or promptness on the part of any Noteholder
in connection with any of the foregoing;

     11.3.5. any act or omission on the part of any Noteholder which may impair or prejudice
the rights of such Guarantor, including rights to obtain subrogation, exoneration,
contribution, indemnification or any other reimbursement from the Issuers or any other
Person, or otherwise operate as a deemed release or discharge;

     11.3.6. any statute of limitations or any statute or rule of law which provides that
the obligation of a surety must be neither larger in amount nor in other respects more
burdensome than the obligation of the principal;

     11.3.7. any “single action” or “antideficiency” law which would otherwise prevent any
Noteholder from bringing any action;

     11.3.8. all demands and notices of every kind with respect to the foregoing; and

     11.3.9. to the extent not referred to above, all defenses (other than payment) which
the Issuers may now or hereafter have to the payment of the Note Obligations, together with
all suretyship defenses, which could otherwise be asserted by such Guarantor.

Each Guarantor represents that it has obtained the advice of counsel as to the extent to which
suretyship and other defenses may be available to it with respect to its obligations hereunder in
the absence of the waivers contained in this Section 11.3.

No delay or omission on the part of any of the Noteholders in exercising any right under any
Securities Document or under any other guarantee of the Note Obligations shall operate as a waiver
or relinquishment of such right. No action which the Noteholders or the Issuers or any other
Guarantor may take or refrain from taking with respect to the Note Obligations shall affect the
provisions of this Agreement or the obligations of each Guarantor hereunder. None of the
Noteholders’ rights shall at any time in any way be prejudiced or impaired by any act or failure to
act on the part of the Issuers or any Guarantor, or by any noncompliance by the Issuers or any
Guarantor with any Securities Document, regardless of any knowledge thereof which any Noteholder
may have or otherwise be charged with.

     11.4. Noteholders’ Power to Waive, etc. Notwithstanding anything to the contrary
herein, with respect to this ARTICLE 11, each Guarantor grants to each of the Noteholders full
power in their discretion, without notice to or consent of such Guarantor, such notice and consent
being expressly waived to the fullest extent permitted by applicable law, and without in any way
affecting the liability of such Guarantor under its guarantee hereunder:

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     11.4.1. To waive compliance with, and any Default under, and to consent to any
amendment to or modification or termination of any provision of, or to give any waiver in
respect of, this Agreement, any other Securities Document, the Note Obligations or any
guarantee thereof (each as from time to time in effect);

     11.4.2. To grant any extensions of the Note Obligations (for any duration), and any
other indulgence with respect thereto, and to effect any total or partial release (by
operation of law or otherwise), discharge, compromise or settlement with respect to the
obligations of the Issuers or any other Person in respect of the Note Obligations, whether
or not rights against such Guarantor under this Agreement are reserved in connection
therewith;

     11.4.3. To collect or liquidate or realize upon any of the Note Obligations in any
manner or to refrain from collecting or liquidating or realizing upon any of the Note
Obligations; and

     11.4.4. To extend additional credit, if any, under this Agreement, any other Securities
Document or otherwise in such amount as the Noteholders may determine, including increasing
the amount of credit and the interest rate and fees with respect thereto, even though the
condition of the Issuers may have deteriorated since the date hereof.

     11.5. Information Regarding the Issuers, etc. Each Guarantor has made such
investigation as it deems desirable of the risks undertaken by it in entering into this Agreement
and is fully satisfied that it understands all such risks. Each Guarantor waives any obligation
which may now or hereafter exist on the part of any Noteholder to inform it of the risks being
undertaken by entering into this Agreement or of any changes in such risks and, from and after the
date hereof, each Guarantor undertakes to keep itself informed of such risks and any changes
therein. Each Guarantor expressly waives any duty which may now or hereafter exist on the part of
any Noteholder to disclose to such Guarantor any matter related to the business, operations,
character, collateral, credit, condition (financial or otherwise), income or prospects of the
Issuers and its Affiliates or their properties or management, whether now or hereafter known by any
Noteholder. Each Guarantor represents, warrants and agrees that it assumes sole responsibility for
obtaining from the Issuers all information concerning this Agreement and all other Securities
Documents and all other information as to the Issuers and its Affiliates or their properties or
management as such Guarantor deems necessary or desirable.

     11.6. Certain Guarantor Representations. Each Guarantor represents that:

     11.6.1. it is in its best interest and in pursuit of the purposes for which it was
organized as an integral part of the business conducted and proposed to be conducted by the
Issuers and their Subsidiaries, and reasonably necessary and convenient in connection with
the conduct of the business conducted and proposed to be conducted by them, to induce the
Purchasers to enter into this Agreement and to purchase the Notes from the Issuers by making
the Guarantee contemplated by this ARTICLE 11.

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     11.6.2. the proceeds from the sale of the Notes will directly or indirectly inure to
its benefit;

     11.6.3. by virtue of the foregoing it is receiving at least reasonably equivalent value
from the Purchasers for its Guarantee;

     11.6.4. it will not be rendered insolvent as a result of entering into this Agreement
after taking into account its respective contribution rights under Section 11.9;

     11.6.5. after giving effect to the transactions contemplated by this Agreement and the
other Securities Documents, it will have assets having a fair saleable value in excess of
the amount required to pay its probable liability on its existing debts as such debts become
absolute and matured;

     11.6.6. it has, and will have, access to adequate capital for the conduct of its
business;

     11.6.7. it has the ability to pay its debts from time to time incurred in connection
therewith as such debts mature; and

     11.6.8. it has been advised by the Purchasers that the Purchasers are unwilling to
enter into this Agreement unless the Guarantee contemplated by this ARTICLE 11 is given by
it.

     11.7. Subrogation. Each Guarantor agrees that, until the Note Obligations are paid in
full, it will not exercise any right of reimbursement, subrogation, contribution, offset or other
claims against the Issuers or any other Guarantor arising by contract or operation of law in
connection with any payment made or required to be made by such Guarantor under this Agreement or
any other Securities Document. After the payment in full of the Note Obligations (other than
contingent indemnity obligations), each Guarantor shall be entitled to exercise against the Issuers
and the other Guarantors all such rights of reimbursement, subrogation, contribution and offset,
and all such other claims, to the fullest extent permitted by law, provided that,
any of the foregoing to the contrary notwithstanding, Parent shall not have the right of
subrogation and effective upon any sale, registration, assignment or transfer of or foreclosure on,
or any other disposition or remedial action in respect of, any equity interests of the Issuers or
any other Subsidiary of the Issuers by the Agent or any lender pursuant to the Senior Credit
Documents and/or applicable law, all such rights and claims of reimbursement, subrogation,
contribution, and offset and other such claims against the Issuers and their Subsidiaries shall be,
and hereby are, forever extinguished and indefeasibly waived (except as such waiver is prohibited
by applicable law) and released by the Guarantor. In the event of the bankruptcy or insolvency of
the Issuers the Noteholders shall be entitled notwithstanding the foregoing, to file in the name of
the Guarantor or in its own name a claim for any and all indebtedness owing to the Guarantor by the
Issuers and to apply the proceeds of any such claim to the Note Obligations.

     11.8. Subordination. Each Guarantor covenants and agrees that all Indebtedness,
claims and liabilities now or hereafter owing by the Issuers or any other Guarantor to such
Guarantor, whether arising hereunder or otherwise, are subordinated to the prior payment in full of
the Note Obligations and are so subordinated as a claim against the Issuers or such Guarantor

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or any of its assets, whether such claim be in the ordinary course of business or in the event
of voluntary or involuntary liquidation, dissolution, insolvency or bankruptcy, so that no payment
with respect to any such Indebtedness, claim or liability will be made or received while any Event
of Default exists. If, notwithstanding the foregoing, any payment with respect to any such
Indebtedness, claim or liability is received by any Guarantor in contravention of this Agreement,
such payment shall be held in trust for the benefit of the Noteholders and promptly turned over to
them in the original form received by such Guarantor.

     11.9. Contribution Among Guarantors. The Guarantors agree that, as among themselves
in their capacity as guarantors of the Note Obligations, the ultimate responsibility for repayment
of the Note Obligations, in the event that the Issuers fails to pay when due its Note Obligations,
shall be equitably apportioned, to the extent consistent with the Securities Documents, among the
respective Guarantors (a) in the proportion that each, in its capacity as a guarantor, has
benefited from the proceeds resulting from the sale of the Notes by the Issuers under this
Agreement, or (b) if such equitable apportionment cannot reasonably be determined or agreed upon
among the affected Guarantors, in proportion to their respective net worths determined on or about
the date hereof (or such later date as such Guarantor becomes party hereto). In the event that any
Guarantor, in its capacity as a guarantor, pays an amount with respect to the Note Obligations in
excess of its proportionate share as set forth in this Section 11.9 each other Guarantor shall, to
the extent consistent with the Securities Documents, make a contribution payment to such Guarantor
in an amount such that the aggregate amount paid by each Guarantor reflects its proportionate share
of the Note Obligations. In the event of any default by any Guarantor under this Section 11.9 each
other Guarantor will bear, to the extent consistent with the Securities Documents, its
proportionate share of the defaulting Guarantor’s obligation under this Section 11.9. This Section
11.9 is intended to set forth only the rights and obligations of the Guarantors among themselves
and shall not in any way affect the obligations of any Guarantor to any Noteholder under the
Securities Documents (which obligations shall at all times constitute the joint and several
obligations of all the Guarantors).

ARTICLE 12

RESTRICTIONS ON TRANSFER; LEGENDS

     12.1. Assignments.

     12.1.1. Permitted Assignments; Right of First Offer

     12.1.1.1. Subject to the provisions of Section 12.1.1.2. and 12.1.2 below and
the terms of the Subordination Agreement, the Purchasers may sell, assign, transfer
or negotiate all or any part of their Notes, provided that upon the
reasonable request of the Issuers (other than with respect to transfers or
assignments to (a) an Affiliate of a Purchaser or other holder of a Note, (b) a
trust or other securitization or financing vehicle of any Purchaser or other holder
of a Note, (c) a successor to such trust’s or securitization vehicle’s rights and
interests in and to any Note, (d) in a Financing Conveyance, or (e) during the
occurrence and continuance of a Default or Event of Default), the Purchasers shall
deliver an opinion in customary form to the effect that such transfer of Notes is in

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compliance with applicable United States federal and state securities laws; and
provided, further, that any such transfer, assignment, transfer or
negotiation to a Person who is not (i) any Purchaser, (ii) an Affiliate of any
Purchaser or (iii) a fund managed by the same adviser as manages any Purchaser or by
an Affiliate of any such investment adviser shall be in a minimum aggregate
principal amount or initial purchase price, as applicable, of $100,000, or, if less,
the amount of the remaining Notes held by such assigning Purchaser. In the case of
any sale, assignment, transfer or negotiation of all or part of the Notes authorized
under this Section 12.1, the assignee, transferee or recipient shall have, to the
extent of such sale, assignment, transfer or negotiation, the same rights, benefits
and obligations as it would if it were a Purchaser with respect to such Notes
evidenced thereby.

     12.1.1.2. In connection with a proposed sale by a selling Purchaser (other
than with respect to sales, transfers or assignments to (a) an Affiliate of a
Purchaser or other holder of a Note, (b) a trust or other securitization or
financing vehicle of any Purchaser or other holder of a Note, (c) a successor to
such trust’s or securitization vehicle’s rights and interests in and to any Note, or
(d) in a Financing Conveyance), the other Purchasers shall have a right of first
offer with respect to any such sale, and the selling Purchaser shall provide the
other Purchasers (who are not Affiliates of the selling Purchaser) with adequate
notice (but in any event no less than 15 days) of such proposed sale and all
information necessary for the other Purchasers to determine whether or not, in their
sole discretion, they will purchase such securities on the proposed terms. If more
than one Purchaser elects to purchase such debt securities, the debt securities to
be issued shall be allocated among such Purchasers pro rata according to the
aggregate principal amount of Notes then held by each such Purchaser. If any
Purchasers decline to purchase such debt securities, their pro rata portion shall be
allocated pro rata to the Purchasers who have elected to purchase such debt
securities. If the Purchasers decline to purchase such securities, such securities
may not be issued on terms more favorable to the proposed investor(s) than the terms
described to the Purchasers without providing the Purchasers with another
opportunity to purchase such securities on such more favorable terms.

     12.1.2. So long as no Event of Default has occurred and is continuing, no Security
Holder shall transfer any Security to any Person that directly engages in the trucking or
trucking logistics business (each a “Competitor”) without the prior written consent
of the Issuers in its sole discretion; provided that nothing contained herein shall be
construed so as to require any Security Holder transferring its Notes to any trust, private
equity fund or financial institution to obtain the written consent of the Issuers. If an
Event of Default has occurred and is continuing, no Security Holder shall transfer any
Security to a Competitor unless such Security Holder provides written notice to the Issuers
of such Security Holder’s intent to transfer such Notes and the minimum price at which such
Notes are intended to be transferred (a “Transfer Notice”). For a period of 10 days
after delivery of the Transfer Notice, by delivery of written notice thereof to such
Security Holder, the Issuers shall have the right to find a willing and able buyer to
purchase such Notes at such price in cash, provided that such buyer consummates the purchase
of such Notes within 15 days after delivery of the Transfer Notice. If the Issuers fails to produce

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such a willing and able buyer within such 10 day period, the Security Holder shall be
free to transfer such Notes to a Competitor without restriction but at a price not less than
the minimum price set forth in the Transfer Notice.

     12.1.3. The Issuers shall keep at its principal office, or the principal office of its
counsel, a register in which the Issuers shall provide for the registration of the Notes and
the transfer of the same shall be provided. Upon surrender for registration of transfer of
any Notes in accordance with Section 12.1 at the principal office of any Issuer, the
applicable Issuer shall, at its expense, promptly execute and deliver one or more new Notes,
as applicable, of like tenor and of a like principal amount, registered in the name of such
transferee or transferees and, in the case of a transfer in part, a new Security in the
appropriate amount registered in the names of such transferor. While the Notes are
“restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, the
applicable Issuer shall provide the Purchasers with the information specified in, and
meeting the requirements of Rule 144A(d)(4) under the Securities Act in connection with any
proposed transfer.

     12.2. Restrictive Notes Legend. Each Note shall bear a legend in substantially the
following form:

“THIS NOTE WAS ISSUED IN A PRIVATE PLACEMENT, WITHOUT REGISTRATION UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD, ASSIGNED, PLEDGED OR OTHERWISE
TRANSFERRED (I) IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT COVERING
THE TRANSFER OR AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUERS THAT SUCH REGISTRATION UNDER
THE ACT IS NOT REQUIRED AND (II) EXCEPT IN COMPLIANCE WITH SECTION 12.1 OF THAT CERTAIN
NOTES PURCHASE AGREEMENT DATED AS OF MARCH 14, 2007, AMONG THE ISSUERS, ITS GUARANTORS AND
THE PURCHASERS (AS DEFINED THEREIN).”

     12.3. Termination of Restrictions. The restrictions imposed by Section 12.2 hereof
upon the transferability of the Notes shall cease and terminate as to any particular Notes (i) upon
delivery to the applicable Issuer of an opinion reasonably acceptable to it from Ropes & Gray LLP
or Weil, Gotshal & Manges LLP, or other counsel reasonably acceptable to such Issuer, that such
restrictions are no longer required in order to assure compliance with the Securities Act and any
other applicable securities laws or (ii) when such Notes shall have been registered under the
Securities Act or transferred pursuant to Rule 144 thereunder. Whenever such restrictions shall
cease and terminate as to any Notes or such Notes shall be transferable under paragraph (k) of Rule
144, the holder thereof shall be entitled to receive from the applicable Issuer, without expense,
replacement Notes, as applicable, not bearing the legend set forth in Section 12.2 hereof.

     12.4. Other Note Legends. Each Note shall bear legends in substantially the following
form:

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“THIS NOTE BEARS ORIGINAL ISSUE DISCOUNT. UPON WRITTEN REQUEST TO ROADRUNNER DAWES FREIGHT
SYSTEMS, INC. AND SARGENT TRANSPORTATION, LLC, 4900 SOUTH PENNSYLVANIA AVE., CUDAHY, WI
53110, ATTENTION: CFO, INFORMATION REGARDING THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE
DISCOUNT, ISSUE DATE AND YIELD TO MATURITY WILL BE MADE AVAILABLE.”

“THIS NOTE AND THE INDEBTEDNESS EVIDENCED HEREBY ARE SUBORDINATE IN THE MANNER AND TO THE
EXTENT SET FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT (AS AMENDED, THE “SUBORDINATION
AGREEMENT”), DATED AS OF MARCH 14, 2007, AMONG ROADRUNNER DAWES FREIGHT SYSTEMS, INC. AND
SARGENT TRUCKING, INC., BIG ROCK TRANSPORTATION, INC., MIDWEST CARRIERS, INC., SMITH TRUCK
BROKERS, INC. AND B&J TRANSPORTATION, INC., AS BORROWERS, ROADRUNNER DAWES, INC. AND
SARGENT TRANSPORTATION, LLC, (AS AN ADDITIONAL OBLIGORS); SANKATY CREDIT OPPORTUNITIES,
L.P., SANKATY CREDIT OPPORTUNITIES II, L.P., RGIP, LLC, AND AMERICAN CAPITAL STRATEGIES,
LTD., AS THE SUBORDINATED CREDITORS, AND LASALLE BANK N. A., AS THE AGENT TO THE SENIOR
INDEBTEDNESS (AS DEFINED IN THE SUBORDINATION AGREEMENT), AND EACH HOLDER OF THIS NOTE, BY
ITS ACCEPTANCE HEREOF, SHALL BE BOUND BY THE PROVISIONS OF THE SUBORDINATION AGREEMENT.”

ARTICLE 13

MISCELLANEOUS

     13.1. Expenses. Whether or not the transactions contemplated hereby shall be
consummated, the Issuers agree to promptly pay all the actual and reasonable out-of-pocket costs
and expenses incurred by the Purchasers in connection with the due diligence review conducted by
the Purchasers, relating to the transactions contemplated hereby, the negotiation, review and
execution of the Documents and other documents related to the transactions contemplated hereby and
the Closing (including the reasonable costs and expenses of the Purchasers’ agents and
representatives performing aspects of each of the foregoing, including, without limitation, Ropes &
Gray LLP and Weil, Gotshal & Manges LLP). In addition, the Issuers agree to promptly pay in full
(without any limitation as to amount) (i) all reasonable out-of-pocket costs and expenses
(including, without limitation, reasonable fees and disbursements of counsel) incurred by the
Noteholders in connection with any proposed waiver or amendment of any Document, whether or not
effected, (ii) following the occurrence and during the continuance of an Event of Default, all
reasonable out-of-pocket costs and expenses (including, without limitation, reasonable fees and
disbursements of counsel) incurred by the Noteholders in enforcing any obligations of or in
collecting any payments due hereunder or under the Notes by reason of such Event of Default and
(iii) all reasonable out-of-pocket costs and expenses (including, without limitation, reasonable
fees and disbursements of counsel) incurred by the Noteholders in connection with any refinancing
or restructuring of the credit arrangements provided under this Agreement in the nature of a
workout, or any insolvency or bankruptcy proceedings; provided that, in the case of each
such event, the Noteholders shall only be entitled to payment of the fees, expenses and

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disbursements of a single outside counsel for each of ACAS and Sankaty, in addition to any
local counsel and other professionals.

     13.2. Indemnity. In addition to the payment of expenses pursuant to Section 13.1,
whether or not the transactions contemplated hereby shall be consummated, each Issuer (as
“Indemnitor”) agrees to indemnify, pay and hold the Purchasers, and the officers,
directors, partners, managers, members, employees, agents, and Affiliates of the Purchasers
(collectively called the “Indemnitees”) harmless from and against any and all other
liabilities, costs, expenses, obligations, losses, damages, penalties, actions, judgments, suits,
claims and disbursements of any kind or nature whatsoever (including, without limitation, the
reasonable fees and disbursements of one counsel for such Indemnitees) in connection with any
investigative, administrative or judicial proceeding commenced or threatened (excluding claims
among Indemnitees and, with the exception of claims arising out of otherwise indemnifiable matters
(e.g., actions to enforce the indemnification rights provided hereunder), excluding claims
between an Issuer and an Indemnitee), whether or not such Indemnitee shall be designated a party
thereto, which may be imposed on, incurred by, or asserted against that Indemnitee, in any manner
relating to or arising out of this Agreement, the Notes, the Documents or the other documents
related to the transactions contemplated hereby, the Purchasers’ agreement to purchase the Notes or
the use or intended use of the proceeds of any of the proceeds thereof to the Issuers (the
“Indemnified Liabilities”); provided, that the Indemnitor shall not have any
obligation to an Indemnitee hereunder with respect to an Indemnified Liability to the extent that
such Indemnified Liability arises from the gross negligence, bad faith or willful misconduct of
that Indemnitee. Each Indemnitee shall give the Indemnitor prompt written notice of any claim that
might give rise to Indemnified Liabilities setting forth a description of those elements of such
claim of which such Indemnitee has knowledge; provided, that any failure to give such
notice shall not affect the obligations of the Indemnitor unless (and then solely to the extent)
such Indemnitor is materially prejudiced thereby. The Indemnitor shall have the right at any time
during which such claim is pending to select counsel to defend and control the defense thereof and
settle any claims for which it is responsible for indemnification hereunder (provided that the
Indemnitor will not settle any such claim without (i) the appropriate Indemnitee’s prior written
consent, which consent shall not be unreasonably withheld or (ii) obtaining an unconditional
release of the appropriate Indemnitee from all claims arising out of or in any way relating to the
circumstances involving such claim and without any admission as to culpability or fault of such
Indemnitee) so long as in any such event, the Indemnitor shall have stated in a writing delivered
to the Indemnitee that, as between the Indemnitor and the Indemnitee, the Indemnitor is responsible
to the Indemnitee with respect to such claim to the extent and subject to the limitations set forth
herein; provided, that the Indemnitor shall not be entitled to control the defense of any
claim in the event that in the reasonable opinion of counsel for the Indemnitee, there are one or
more material defenses available to the Indemnitee which are not available to the Indemnitor;
provided further, that with respect to any claim as to which the Indemnitee is controlling
the defense, the Indemnitor will not be liable to any Indemnitee for any settlement of any claim
pursuant to this Section 13.2 that is effected without its prior written consent, which consent
shall not be unreasonably withheld. To the extent that the undertaking to indemnify, pay and hold
harmless set forth in this Section 13.2 may be unenforceable because it is violative of any law or
public policy, each Issuer shall contribute the maximum portion which it is permitted to pay and
satisfy under applicable law, to the payment and satisfaction of all Indemnified Liabilities
incurred by the Indemnitees or any of them.

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     13.3. Right of First Offer. The Issuers hereby agree that, at any time, when any
Notes remain outstanding, if any Issuer or any of their Subsidiaries determines to issue debt
securities junior in right of payment to the Senior Indebtedness, the Purchasers shall have a right
of first offer with respect to such issuance, and the applicable Issuer shall provide the
Purchasers with adequate notice (but in any event no less than 15 days) of such issuance and all
information necessary for the Purchasers to determine whether or not, in their sole discretion,
they will purchase such securities on the proposed terms. If more than one Purchaser elects to
purchase such debt securities, the debt securities to be issued shall be allocated among such
Purchasers pro rata according to the aggregate principal amount of Notes then held by each such
Purchaser. If any Purchasers decline to purchase such debt securities, their pro rata portion
shall be allocated pro rata to the Purchasers who have elected to purchase such debt securities.
If the Purchasers decline to purchase such securities, such securities may not be issued on terms
more favorable to the proposed investor(s) than the terms described to the Purchasers without
providing the Purchasers with another opportunity to purchase such securities on such more
favorable terms.

     13.4. Amendments and Waivers. Subject to those restrictions contained in the
Subordination Agreement, no amendment, modification, termination or waiver of any provision of this
Agreement, shall in any event be effective without the written consent of the Required Security
Holders and the Issuers; provided, that no amendment, modification, waiver or consent
shall, unless in writing and signed by each Noteholder affected thereby, do any of the following:
(a) extend the maturity or time of, or right to receive, payment of principal of, or premium, if
any, or interest on, any Note (other than as a result of waiving a prepayment required under
Section 3.2.3 or 3.2.4 or a Default or Event of Default giving rise to a right of acceleration,
which shall each be by written consent of the Required Security Holders); or (b) reduce the rate of
interest or the principal amount of any of the Notes or increase the relative amount of interest
which the Issuers may pay through capitalizing the same; or (c) impair or affect the right of any
Noteholder to institute suit for enforcement of any such payment to which such Noteholder is
entitled pursuant to this Agreement; or (d) alter the percentage of Noteholders necessary to modify
or take action under this Agreement; or (e) amend this Section 13.4. Any waiver or consent shall
be effective only in the specific instance and for the specific purpose for which it was given. No
notice to or demand on the Issuers in any case shall entitle the Issuers to any further notice or
demand in similar or other circumstances. Any amendment, modification, termination, waiver or
consent effected in accordance with this Section 13.4 shall be binding upon each holder of the
Notes at the time outstanding and each future holder thereof.

     13.5. Independence of Covenants. All covenants hereunder shall be given independent
effect so that if a particular action or condition is not permitted by any of such covenants, the
fact that it would be permitted by an exception to, or be otherwise within the limitation of,
another covenant shall not avoid the occurrence of a breach or an Event of Default or Default if
such action is taken or condition exists.

     13.6. Notices. All notices, demands or other communications to be given or delivered
under or by reason of the provisions of this Agreement shall be in writing and delivered personally
or sent via a nationally recognized overnight courier. Such notices, demands and other
communications will be delivered or sent to the address indicated below:

If to the Issuers:

-55-

 

Sargent Transportation, LLC

Roadrunner Dawes Freight Systems, Inc.

Roadrunner Dawes, Inc.

4900 South Pennsylvania Avenue

Cudahy, WI 53110

Phone: 414-615-1648

Fax: 414-486-0093

Attention: Peter Armbruster, Chief Financial Officer

with a copy to:

Thayer Capital Partners

1455 Pennsylvania Avenue, N.W.

Suite 350

Washington, DC 20004

Attention: Scott Rued

Phone: 202-371-1050

Fax: 202-371-0391

and with a copy to:

Greenberg Traurig, LLP

2375 E. Camelback Road

Suite 700

Phoenix, AZ 85016

Phone: 602-445-8306

Fax: 602-445-8100

Attention: Bruce E. Macdonough, Esq.

If to Purchasers, to the address

set forth in Schedule I

With a copy to:

Ropes & Gray LLP

One International Place

Boston, Massachusetts 02110

Phone: (617) 951-7000

Fax: (617) 951-7050

Attention: David A. McKay, Esq.

and to:

Weil, Gotshal & Manges LLP

767 Fifth Avenue

-56-

 

New York, New York 10153

Fax: (212) 310-8127

Attention: Christopher Aidun, Esq.

or such other address or to the attention of such other Person as the recipient party shall have
specified by prior written notice to the sending party in accordance with this Section 14.6. Any
such communication shall be deemed to have been received when actually delivered or refused.

     13.7. Survival of Warranties and Certain Agreements.

     13.7.1. Any liability of any Issuer for any breach of, or inaccuracy in, the
representations and warranties made by it herein shall survive the execution and delivery of
this Agreement and the sale and delivery of the Notes hereunder, including the execution and
delivery of the Notes, and shall continue until no Notes remain outstanding;
provided, that if all or any part of any payment for the Notes is set aside, the
Issuers shall remain liable for any breach of, or inaccuracy in, the representations and
warranties made by it herein as if no such payment had been made.

     13.7.2. Any liability of the Issuers for any breach of or default in the performance of
the agreements made by it herein shall survive the execution and delivery of this Agreement
and the sale and delivery of the Notes hereunder, including the execution and delivery of
the Notes, and shall continue until no Notes remain outstanding; provided, that if
all or part of any payment for the Notes is set aside, the Issuers shall remain liable for
any breach of or default in the performance of such agreements.

     13.7.3. Notwithstanding anything in this Agreement or implied by law to the contrary,
the agreements of the Issuer set forth in Sections 13.1 and 13.2 shall survive the payment
of the Notes, the redemption, cancellation or exchange of the Notes and the termination of
this Agreement.

     13.7.4. Any liability of any Purchaser for any breach of, or inaccuracy in, the
representations and warranties made by it herein shall survive the execution and delivery of
this Agreement and the sale and delivery of the Notes hereunder, including the execution and
delivery of the Notes, and shall continue until no Notes remain outstanding

     13.8. Failure or Indulgence Not Waiver; Remedies Cumulative. No failure or delay on
the part of any Purchaser in the exercise of any power, right or privilege hereunder or under the
Notes shall impair such power, right or privilege or be construed to be a waiver of any default or
acquiescence therein, nor shall any single or partial exercise of any such power, right or
privilege preclude other or further exercise thereof or of any other right, power or privilege.
All rights and remedies existing under this Agreement or the Notes are cumulative to and not
exclusive of, any rights or remedies otherwise available.

     13.9. Severability. If and to the extent that any provision in this Agreement or the
Notes shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and
enforceability of the remaining provisions of this Agreement, the Notes or of the other obligations
of the Issuers under any of such provisions, or of such provision or obligation in any

-57-

 

other jurisdiction, or of such provision to the extent not invalid, illegal or unenforceable
shall not in any way be affected or impaired thereby.

     13.10. Heading. Section and subsection headings in this Agreement are included herein
for convenience of reference only and shall not constitute a part of this Agreement for any other
purpose or be given any substantive effect.

     13.11. Applicable Law. This Agreement shall be governed by, and shall be construed
and enforced in accordance with, the laws of The Commonwealth of Massachusetts, without regard to
the principles of conflicts of laws.

     13.12. Successors and Assigns; Subsequent Holders. This Agreement shall be binding
upon the parties hereto and their respective successors and assigns and shall inure to the benefit
of the parties hereto and the permitted successors and assigns of the Purchasers. The terms and
provisions of this Agreement and all certificates delivered pursuant hereto shall inure to the
benefit of any assignee or transferee of the Notes, to the extent the assignment is permitted
hereunder, and in the event of such transfer or assignment, the rights and privileges herein
conferred upon the Purchasers shall automatically extend to and be vested in such transferee or
assignee, all subject to the terms and conditions hereof. The Issuers’ respective rights or any
interest therein or hereunder may not be assigned without the written consent of the holders of a
majority of the Notes affected thereby.

     13.13. Consent to Jurisdiction and Service of Process. All judicial proceedings
brought against any Issuer, with respect to this Agreement or any Notes may be brought in any state
or federal court of competent jurisdiction in The Commonwealth of Massachusetts and by execution
and delivery of this Agreement each Issuer accepts for itself and in connection with its
properties, generally and unconditionally, the jurisdiction of the aforesaid courts, and
irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement
subject, however, to rights of appeal. Each Issuer hereby agrees that service upon it in the
manner provided for the giving of notices in Section 13.6 shall constitute sufficient notice.
Nothing herein shall affect the right to serve process in any other manner permitted by law or
shall limit the right of any Purchaser to bring proceedings against any Issuer in the courts of any
other jurisdiction.

     13.14. Waiver of Jury Trial. Each Issuer hereby waives, to the full extent permitted
by applicable law, trial by jury in any litigation in any court with respect to, in connection
with, or arising out of this Agreement or any other Securities Document or the validity,
protection, interpretation, collection or enforcement thereof. Notwithstanding anything contained
in this Agreement to the contrary, no claim may be made by any Issuer against any Purchaser for any
lost profits or any special, indirect or consequential damages in respect of any breach or wrongful
conduct (other than willful misconduct constituting actual fraud) in connection with, arising out
of or in any way related to the transactions contemplated hereunder or under the other Securities
Documents, or any act, omission or event occurring in connection therewith. Each Issuer hereby
waives, releases and agrees not to sue upon any such claim for any such damages. Each Issuer
agrees that this Section 13.14 is a specific and material aspect of this Agreement and acknowledges
that the Purchasers would not extend to the Issuer any monies hereunder if this Section 13.14 were
not part of this Agreement.

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     13.15. Counterparts; Effectiveness. This Agreement and any amendments, waivers,
consents or supplements may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed and delivered shall be deemed an
original, but all such counterparts together shall constitute but one and the same instrument.
This Agreement shall become effective upon the execution of a counterpart hereof by each of the
parties hereto.

     13.16. Confidentiality. Each Purchaser agrees to keep confidential (and to cause its
respective officers, directors, employees, agents and representatives to keep confidential) all
information, materials and documents concerning the business of the Parent and its Subsidiaries
furnished to such Purchaser by the Parent or its Subsidiaries or on its behalf pursuant to this
Agreement (the “Information”). Notwithstanding the foregoing, any Purchaser shall be
permitted to disclose Information (i) to its officers, managers, members, partners, directors,
employees, agents and representatives provided that such Information shall remain confidential;
(ii) to the extent required by applicable laws and regulations or by any subpoena or similar legal
process, or to the extent requested by any governmental agency or authority in which event such
Purchaser agrees to provide notice thereof to the Issuers; (iii) to the extent such Information (A)
becomes publicly available other than as a result of a breach of this Agreement, (B) becomes
available to such Purchaser on a non-confidential basis from a source other than the Parent or its
Subsidiaries other than from a third party which the Purchaser is aware is breaching its
confidentiality obligations to the Issuers or (C) was available to the Purchaser on a
non-confidential basis prior to its disclosure to the Purchaser by the Parent or its Subsidiaries;
(iv) to the extent the Parent or its Subsidiaries shall have consented to such disclosure in
writing; (v) in connection with the assignment of any Notes provided that the recipient of
Information agrees to maintain the confidentiality of the Information; (vi) to its respective
investors or lenders in connection with any reporting performed by such Purchaser to any such
Persons provided that the recipient of Information agrees to maintain the confidentiality of the
Information; or (vii) in connection with the exercise of its rights and remedies under the
Securities Documents. Notwithstanding anything else in this Agreement, or in any other written or
oral understanding or agreement to which the parties hereto are parties or by which they are bound,
each party (and its representatives, agents and employees) may consult any tax advisor regarding
the tax treatment and tax structure of the transaction and may disclose to any Person, without
limitation, the tax treatment and tax structure of the transaction and all materials (including
opinions or other tax analyses) that are provided relating to such treatment or structure.

     13.17. Entirety. This Agreement and the other Documents embody the entire agreement
among the parties and supersede all prior agreements and understandings, if any, relating to the
subject matter hereof and thereof.

-59-

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by the
respective duly authorized officers of the undersigned and by the undersigned as of the date first
written above.

	 	 	 	 	 
	 	ISSUERS:

ROADRUNNER DAWES FREIGHT SYSTEMS, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SARGENT TRUCKING, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	BIG ROCK TRANSPORTATION, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	MIDWEST CARRIERS, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SMITH TRUCK BROKERS, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

	 	 	 	 	 
	 	B&J TRANSPORTATION, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GUARANTORS:

ROADRUNNER DAWES, INC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	SARGENT TRANSPORTATION, LLC.
 	 
	 	By:  	/s/ Daniel Moorse 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

	 	 	 	 	 
	 	PURCHASERS:

SANKATY CREDIT OPPORTUNITIES, L.P.

 	 
	 	By:  	/s/ Stuart Davies
 	 
	 	 	Name:  	Stuart Davies 	 
	 	 	Title:  	Managing Director 	 
	 
	 	SANKATY CREDIT OPPORTUNITIES II, L.P.

 	 
	 	By:  	/s/ Stuart Davies
 	 
	 	 	Name:  	Stuart Davies 	 
	 	 	Title:  	Managing Director 	 
	 
	 	RGIP, LLC

 	 
	                                                       
	 	By:  	/s/ Alfred O. Rose
 	 
	 	 	Name:  	Alfred O. Rose 	 
	 	 	Title:  	Managing Member 	 
	                                                        

	 
	 	AMERICAN CAPITAL STRATEGIES, LTD.

 	 
	 	By:  	/s/ Jon D. Isaacson
 	 
	 	 	Name:  	Jon Isaacson 	 
	 	 	Title:  	Senior Vice President

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