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                                                                    Exhibit 10.1

                              Cray 2006 Bonus Plan

     The Cray 2006 Bonus Plan, as applicable to executives and other officers,
is based 75% upon the Company's consolidated results from operations (before
taxes, interest and foreign currency effects), adjusted as described below, and
25% on personal goals. No bonus will be paid unless results from operations
reach a base level set by the Board, exclusive of any bonus. In addition, no
bonus will be paid unless 2006 bookings (defined as firm contracts for new
product sales available to be recognized as revenue prior to December 31, 2007,
which are contracted for in 2006), reach a pre-determined minimum level. Each
participant in the Cray 2006 Bonus Plan is assigned a percentage of the
participant's base salary as his/her target bonus, as approved by the Board.

     Bonus would be payable at 25% of target bonus once the adjusted results
from operations reach a pre-approved minimum level and other conditions are met,
and increase up to 150% of the target bonus as specified levels of adjusted
results from operations established by the Board are reached. Bonuses cannot
exceed more than 100% of target bonus unless 2006 bookings are at least at a
pre-determined level (higher than the thresh-hold level). Any bonus higher than
150% of target bonus is at the Board's discretion.

     For purposes of calculating the results from operations, any charges due to
SFAS 123(R) stock compensation, restructuring, 401(k), variable pay, bonus and
retention incentives, are excluded. To the extent there are other unplanned
significant transactions or charges, then the Compensation Committee would
determine what adjustments, if any, are appropriate in determining the results
from operations for purposes of determining the bonuses.

     The Chief Executive Officer, subject to final approval by the Compensation
Committee, would retain the right to adjust the formula bonus (from 0% to 125%)
for each officer. The Board approves the final bonus for the Chief Executive
Officer.exv10w1

 

Exhibit 10.1

EXECUTION VERSION

AMENDED AND RESTATED PROGRAM AGREEMENT

          THIS AMENDED AND RESTATED PROGRAM AGREEMENT, dated as of April 1, 2006, is by and among
GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation with a business address at 10
Riverview Drive, Danbury, CT 06810 (“GE”), GE CAPITAL INFORMATION TECHNOLOGY SOLUTIONS,
INC., a California corporation with a business address at 10 Riverview Drive, Danbury, CT 06810
(“GECITS”), and IKON OFFICE SOLUTIONS, INC., an Ohio corporation with its principal place
of business at 70 Valley Stream Parkway, Malvern, PA 19355 (“IKON”). Unless otherwise
defined herein, all capitalized terms are defined in Annex A.

RECITALS

          WHEREAS, GE, GECITS and IKON have entered into a Program Agreement, dated as of March 31, 2004
(as amended to (but excluding) the date hereof, the “Existing Program Agreement”) to
provide for a Customer financing program with respect to IKON’s and its Affiliates’ sales and
financing of Equipment for Customers of the IKON Companies at locations in the United States; and

          WHEREAS, GE and IKON have entered into an Asset Purchase Agreement, dated as of April 1, 2006
(the “2006 Purchase Agreement”) pursuant to which GE has agreed to, and shall purchase, as
of the date hereof, substantially all of the Financing Contracts in the Closing Date IKON Retained
Financing Contracts (as defined in the Existing Program Agreement); and

          WHEREAS, GE, GECITS and IKON desire to amend and restate the Existing Program Agreement,
effective as of the date hereof (and with respect to periods from and after the date hereof) on the
terms and subject to the conditions herein set forth;

          NOW THEREFORE, in consideration of the above premises and of the representations, warranties,
covenants and indemnities contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

          The Existing Program Agreement is hereby amended and restated, effective as of April 1, 2006
(and with respect to periods thereafter), as set forth below:

ARTICLE 1.

PROGRAM FINANCING STRUCTURE

          1.1. Financing Structure.

          (a) During the Term and subject to the conditions set forth herein, GECITS shall (i)
originate, in the manner set forth below, contracts in the form of lease or rental

 

 

agreements relating to the lease or rental of Equipment to Customers (other than State and
Local Government Entities or the United States Government) of IKON and its Subsidiaries
(collectively, the “IKON Companies”) at locations in the United States (each, an
“Originated Financing Contract”), (ii) purchase, in the manner set forth below, SLG
Financing Contracts relating to the lease or rental of Equipment to State and Local Government
Entities at locations in the United States, (iii) purchase, in the manner set forth below, IKON
Originated Financing Contracts relating to the lease or rental of Equipment to Customers of the
IKON Companies at locations in the United States and (iv) purchase, in the manner set forth below,
Program FM Stream Financings and Program EM Stream Financings relating to the lease or rental of
Equipment to Customers of the IKON Companies at locations in the United States.

          (b) The payments that may from time to time become due under a Program Financing Contract or
Program Stream Financing Agreement consist of (i) the periodic minimum payment thereunder (the
“Minimum Periodic Payment”) which shall be allocated between the parties as specified in
Section 5.1 and (ii) one or more of the following (if applicable): (A) the excess “cost
per copy” meter charge thereunder (i.e., the per copy charge for copies in excess of a stated base
volume of copies) (the “CPC Payment”), (B) Sales Tax Payments, (C) late charges thereunder
(“Late Charges”), (D) Uplift Payments, (E) collateral protection insurance charges under
Purchased Financing Contracts (the “CPI Charges”), (F) payments by the Obligor thereunder
in connection with the exercise of any option to purchase the Equipment subject to such Program
Financing Contract or Program Stream Financing Agreement, (G) property tax administration fees
thereunder (“Administration Fees”) and/or (H) payments in respect of other sundry charges
thereunder.

ARTICLE 2.

MANAGEMENT OF THE PROGRAM

          2.1. Executive Committee.

          (a) Generally; Size. In connection with the Program, GE, GECITS and IKON have
established and shall maintain an executive committee (the “Executive Committee”) to
monitor and review the operation and administration of the Program and oversee the relationship of
the parties. The Executive Committee shall consist of three (3) designees of IKON (collectively,
the “IKON Designees”), and three (3) designees of GE (collectively, the “GE
Designees”), all of whom shall be voting members of the Executive Committee. The current
Designees are listed on Annex B. From and after the date hereof, any appointment or
removal by GE of any GE Designee and any appointment or removal by IKON of any IKON Designee shall
be evidenced in writing signed by a duly authorized representative of the appointing or removing
party and shall be delivered to each other party hereto.

          (b) Composition; Term of Office. The IKON Designees shall be employees of an IKON
Company familiar with the Program and generally familiar with the Equipment and products offered by
the IKON Companies. The GE Designees shall be employees of GE familiar with the Program and
generally familiar with the credit markets, equipment leasing and financial

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services. Each Designee shall hold such position until his or her successor is appointed in
accordance with Section 2.1(h) or until his or her earlier resignation, death or removal.

          (c) Meetings. Meetings of the Executive Committee shall be held at such times as the
Executive Committee may determine. One GE Designee shall be designated by GE as the chairperson of
the first meeting of the Executive Committee, and thereafter, on an alternating basis, one IKON
Designee or one GE Designee shall be designated by IKON or GE (as applicable) as the chairperson of
each subsequent meeting of the Executive Committee. At or before the conclusion of each meeting of
the Executive Committee, GE or IKON (as applicable) shall designate the chairperson of the next
meeting of the Executive Committee (it being agreed that each of IKON and GE shall be entitled, at
or prior to each meeting of the Executive Committee, to modify its appointment of the chairperson
for such meeting (to the extent such chairperson has been so designated by it)). The Executive
Committee shall meet at least once each calendar quarter or as otherwise agreed by GE and IKON.

          (d) Notice. Notice of all meetings of the Executive Committee shall be sent to each
Designee by the chairperson of such meeting and shall be addressed to such Designees at the
addresses set forth on Annex B (or, with respect to any Designee appointed after the date
hereof, as specified in writing to each other party hereto by the party making such appointment) by
express mail or overnight courier service, or be delivered personally or by telephone, not later
than the tenth (10th) Business Day before the day on which such meeting is to be held. Such notice
shall state the place, date, and time of the meeting and the purpose or purposes for which it is
called. Any requirements of furnishing a notice may be waived by any Designee who signs a waiver
of notice before or after the meeting. The presence of a Designee at a meeting (whether in person
or telephonically) shall constitute a waiver by such Person of notice of such meeting, except if
such Designee attends such meeting for the express purpose of objecting at the beginning of the
meeting to the transaction of any business thereat as a consequence of the meeting not properly
being called or convened.

          (e) Quorum; Vote. A quorum for the transaction of business at any Executive Committee
meeting shall consist of at least two (2) IKON Designees and two (2) GE Designees. The affirmative
vote of a majority of each of the GE Designees and the IKON Designees who, in each case, are
present at any meeting at which a quorum is present shall constitute an act of the Executive
Committee. The Executive Committee shall have the ability to act without a meeting if the action
to be taken is approved in writing by at least two (2) GE Designees and at least two (2) IKON
Designees.

          (f) Resignation. Any Designee may resign from the Executive Committee at any time by
giving written notice to the party that appointed such Designee and to the other party hereto. The
resignation of any Designee shall take effect upon receipt of notice thereof by each of the parties
hereto or at such later time as shall be specified in such notice.

          (g) Removal. Any Designee may be removed, with or without cause, at any time upon the
written direction of the party that appointed such Designee, effective upon the delivery of such
written direction by the removing party to the non-removing party.

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          (h) Vacancies. Unless otherwise provided in this Agreement, any vacancies resulting
from the death, resignation or removal of any Designee shall be filled, in a manner consistent with
this Agreement, by the party that appointed such Designee.

          (i) Authority. The authority, functions and duties of the Executive Committee shall
consist solely of the following:

               (i) the review from time to time of the reports prepared by GE or IKON in connection with the
Program,

               (ii) subject to Section 4.1 (if applicable), the review and approval of increases or
decreases to the rates set forth in the GE Rate Sheets,

               (iii) without limiting GE’s rights under Section 4.2, the review of any changes to the
Credit Approval Policy effected from time to time by GE,

               (iv) without limiting IKON’s or GE’s rights under Section 4.3, the review of any
changes to the Residual Policy,

               (v) the mediation and resolution of disputes that may arise between GE, GECITS and IKON
relating to the Program, and

               (vi) the recommendation of new types of financing products and modifications of existing
financing products to be offered from time to time by GE in connection with the Program.

In addition to the foregoing, the Executive Committee shall review the operations of the Program on
an overall basis and make recommendations to GE, GECITS and IKON with respect to the improvement of
such operations or other matters relating to the Program.

          2.2. Program Relationship Managers. GE shall from time to time appoint a relationship
manager who shall function as GE’s and GECITS’ primary management contact with IKON (the “GE
Relationship Manager”), who shall be an employee of GE and who shall be responsible for the
maintenance of the regular and ongoing relationship between the parties. IKON shall from time to
time appoint a relationship manager who shall function as IKON’s primary management contact with GE
and GECITS (the “IKON Relationship Manager”), who shall be an employee of IKON and who
shall be responsible for the maintenance of the regular and ongoing relationship between the
parties. As of the Amendment Effective Date, the GE Relationship Manager is David O’Neill and the
IKON Relationship Manager is Michael Keenan.

ARTICLE 3.

THE PROGRAM

          3.1. Private Label Administration. (a) (i) Unless otherwise agreed by GE, GECITS and
IKON, and to the extent permitted by the Trademark License Agreement and applicable Law, (A) GECITS
shall enter into each Originated Financing Contract as the lessor

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using the name “IKON Financial Services” and (B) GE shall bill, collect and administer each
Program Financing Contract, Program FM Stream Financing, Program EM Stream Financing and Purchased
Personal Property Tax Receivable using an Assumed Name; provided, however, that
notwithstanding anything to the contrary herein, if (1) (I) an Obligor under a Program Financing
Contract or in respect of a Purchased Property Tax Receivable, a Program FM Stream Financing or a
Program EM Stream Financing notifies GE or GECITS of its inability or unwillingness to make
payments in respect of such Program Financing Contract, Purchased Property Tax Receivable, or
Program Stream Financing (for reasons other than actual or asserted billing inaccuracies) and, to
the extent that such Obligor has asserted to GE or GECITS that any such unwillingness is the result
of an Asserted Service Failure, IKON has had the opportunity to respond to GE or GECITS, as
contemplated by Section 6.1(b)(iii), with respect thereto, (II) any payment under any such
Program Financing Contract or in respect of any such Program FM Stream Financing or Program EM
Stream Financing becomes 120 days or more past due, provided that to the extent that such Obligor
has asserted to GE or GECITS that any such delinquency is the result of an Asserted Service
Failure, IKON has had the opportunity to respond to GE or GECITS, as contemplated by Section
6.1(b)(iii), with respect thereto, (III) a Bankruptcy Event (or event which, with the lapse of
time would constitute a Bankruptcy Event) occurs with respect to an Obligor under such Program
Financing Contract or in respect of such Purchased Property Tax Receivable, Program FM Stream
Financing or Program EM Stream Financing, or (IV) GE or GECITS commences litigation with respect to
such Program Financing Contract, Purchased Property Tax Receivable, Program FM Stream Financing or
Program EM Stream Financing, (2) there shall have occurred a GE Termination Event of the type
described in Section 11.2(a)(i)(B), Section 11.2(a)(ii) or Section
11.2(a)(iii), (3) the Program is terminated and IKON has not elected to exercise its option to
repurchase all Program Financing Contracts, Purchased Property Tax Receivables and Program Stream
Financings in accordance with Section 11.3, (4) GE or GECITS at any time ceases to be
entitled, pursuant to the Trademark License Agreement or applicable Law, to utilize each of the
Assumed Names, (5) GE or GECITS determines that use of each of the Assumed Names poses a material
risk of liability to GE or any of its Affiliates for trademark infringement or dilution, or (6) GE
or GECITS determines that the use of the name “IKON Financial Services” in connection with the
origination of Originated Financing Contracts poses a material risk of liability to GE or any of
its Affiliates for trademark infringement or dilution, then GE and GECITS (as applicable) shall, to
the extent otherwise permitted by this Agreement, have the right (at their option after, in the
case of clauses (1)(I), (1)(II) and (6) above, not less than ten (10) Business
Days’ prior written notice to IKON, which notice, in the case of clause (1)(II), may be in
the form of a 120-day delinquency report or on-line queue) to enter into, bill, collect and
administer Program Financing Contracts, Program FM Stream Financings and Program EM Stream
Financings and pursue litigation or collection proceedings against, and give notices to or
otherwise communicate with, Obligors, in each case, in their own names, with respect to the (x)
applicable Program Financing Contract, Program FM Stream Financing or Program EM Stream Financing
(in the case of the occurrence of any event described in clause (1)), (y) all Purchased
Property Tax Rece
ivables, Program Financing Contracts, Program FM Stream Financings and Program EM
Stream Financings (in the case of the occurrence of any event described in clause (2),
(3), (4) or (5)), or (z) unless IKON shall have granted to GE and GECITS,
during the ten (10) Business Day period referred to above, a license pursuant to the Trademark
License Agreement to utilize a name (other than any Assumed Name)

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incorporating the “IKON” trademark (or such other name upon which GE, GECITS and IKON shall
agree) which GE and GECITS do not believe poses a material risk of liability to GE or any of its
Affiliates for trademark infringement or dilution, all Originated Financing Contracts (in the case
of the occurrence of any event described in clause (6)).

               (ii) Unless otherwise agreed by GE, GECITS and IKON, and to the extent permitted by the
Trademark License Agreement and applicable Law, GECITS shall bill, collect and administer each
Federal Financing Contract under the name “IKON Office Solutions”.

          (b) Notwithstanding the provisions of Section 3.1(a) to the contrary, all Tax-Exempt
Public Sector Financings shall be billed, collected and administered in the name of GECITS;
provided that invoices sent in respect of such Tax-Exempt Public Sector Financings may also
reflect an Assumed Name. In respect of any SLG Financing Contract, Program EM Stream Financing or
Program FM Stream Financing in respect of which the Obligor thereunder is a State and Local
Government Entity pursuant to which notice to the applicable State and Local Government Entity is
required in connection with any assignment thereof, IKON acknowledges and agrees that GECITS may
send a notification letter (substantially in the form of Exhibit H-1) to such State and
Local Government Entity at any time after the Transfer Date with respect to the Equipment subject
or related thereto.

          (c) On the Original Effective Date, GE, GECITS and IKON entered into the Trademark License
Agreement.

          3.2. GE as Preferred Provider. (a) IKON shall and shall cause its Subsidiaries,
during the Term, to promote and introduce the Program as its and their preferred source of Customer
financing for Equipment in the United States (other than with respect to Excluded Transactions) by
(i) adopting, implementing, maintaining and enforcing the policies referred to in Sections
3.2(b) and 3.2(e) in the manner described in Sections 3.2(b), 3.2(c)
and 3.2(e), (ii) making the announcements regarding the Program referred to in Section
3.2(d) and (iii) providing GECITS with financing opportunities as provided in Section
3.3.

          (b) IKON has adopted and has caused its U.S. Subsidiaries to adopt and implement, and shall
and shall cause its U.S. Subsidiaries to maintain, company-wide, written policies and procedures
that require their respective sales representatives and similar personnel (i) to actively introduce
and promote as part of the sales and marketing process for Equipment, the use of Financing
Contracts available pursuant to the Program, (ii) to refer Customers that express an interest in
leasing, or financing the acquisition of, Equipment to be located in the United States (other than
Excluded Transactions) to the Program, (iii) other than in connection with Excluded Transactions
and proposed Program Financing Contracts or Program Stream Financings offered to GECITS for funding
under the Program in accordance with this Agreement and rejected by GE and GECITS hereunder, not to
arrange, promote, or encourage financing of Equipment from any source other than through GECITS
under the Program, (iv) other than in connection with Excluded Transactions, not to furnish rate
cards, promotional materials or other documentation of or information related to any other source
of Equipment financing and (v) to permit GE and VFS Macon personnel to attend sales functions and
sales and marketing meetings

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of the IKON Companies as representatives of the IKON Companies’ preferred source for the
leasing and financing of Equipment. IKON has provided and shall provide the Executive Committee
(with respect to all policies implemented or to be implemented after the Original Effective Date)
with an opportunity to review and discuss the specific form and content of the policies proposed to
be adopted by the IKON Companies in accordance with this Section 3.2(b) within a reasonable
period of time prior to adoption thereof.

          (c) IKON shall and shall cause its U.S. Subsidiaries to use reasonable efforts to monitor
compliance by their sales representatives and similar personnel with the policies referred to in
Section 3.2(b). If GE or GECITS notifies IKON, or any Responsible Officer of any IKON
Company otherwise becomes aware, that any such personnel has materially or persistently violated
any such policies, IKON shall take or cause to be taken such action as IKON reasonably determines
to be appropriate in order to emphasize the importance to IKON of compliance with such policies and
to discourage further violations of such policies by such individual. To the extent not
inconsistent with applicable Law, IKON shall, upon request by GE, notify GE and GECITS as to the
actions taken by IKON in compliance herewith.

          (d) IKON has, and has caused its U.S. Subsidiaries to, announce both publicly and separately
to the sales representatives and similar personnel of the IKON Companies, the commencement of the
Program with GE and GECITS and shall, and shall cause its U.S. Subsidiaries to, announce the
Program (in the case of announcements to sales representatives and similar personnel) from time to
time hereafter as GE and GECITS may reasonably request. The form of such announcements shall be as
mutually agreed by IKON, GECITS and GE.

          (e) IKON shall provide to the IKON Companies’ sales representatives and similar personnel,
fees and other incentive payments intended to induce such personnel to promote the use by Customers
of Financing Contracts offered from time to time by GE and GECITS pursuant to the Program, all in
accordance with the sales commission policies previously delivered by IKON to GE (collectively, the
“Program Commission Policy”). IKON shall not modify the Program Commission Policy in a
manner that is designed to incent its sales representatives and similar personnel to pursue
cancel/upgrade opportunities as described in Section 6.3(a) prior to the expiration of
one-half of the original stated term of a Program Financing Contract or, with respect to any
Program Stream Financing, one-half of the original stated lease or rental term for the Equipment
related thereto under the applicable Program Stream Financing Agreement; it being agreed that in
the event that any such modification to the Program Commission Policy has the effect of incenting
IKON or IKON Company sales representatives or similar personnel to pursue cancel/upgrade
opportunities as described in Section 6.3(a) prior to the expiration of one-half of the
original stated term of a Program Financing Contract or, with respect to any Program Stream
Financing, one-half of the original stated lease or rental term for the Equipment related thereto
under the applicable Program Stream Financing Agreement, then promptly upon written notice from GE
(or promptly upon IKON’s discovery of such effect), IKON shall reinstate the Program Commission
Policy as in effect immediately prior to such modification. IKON shall, and shall cause its
Subsidiaries to, (i) prohibit the payment to, or receipt by, any of their sales representatives or
similar personnel of fees or other compensation from (or directly or indirectly funded by) any
Person other than the IKON Companies that are intended to induce, or have the effect of inducing,
such personnel to promote the financing by

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such Person or any of such Person’s Affiliates of the sale, lease or rental of Equipment to
Customers at locations in the United States, and (ii) in the event of the receipt by any such IKON
Company personnel of fees or compensation prohibited by clause (i) above, promptly take corrective
action (subject to applicable Law) up to and including termination of such personnel’s employment
with the applicable IKON Company. Any disciplinary measure to be taken in connection with any such
violation shall be in IKON’s sole discretion.

          (f) IKON shall not permit any Person, other than an IKON Company, GE, GECITS or one of the
existing syndication partners of the IKON Companies set forth on Annex C, to use the name
“IKON”, “IOS Capital” or “IKON Financial Services” (or any derivation thereof) in connection with
the provision of leasing, rental or financing (or solicitation of leasing or financing) of
Equipment to Customers of any of the IKON Companies at locations in the United States;
provided, however, that (x) the existing syndication partners of the IKON Companies
listed in Annex C may continue to use the IOS Capital name in connection with the servicing
of lease or rental contracts owned by such Persons on the Original Effective Date and (y) IKON may,
from time to time, permit its then-existing syndication partners to utilize the name “IKON” in
connection with the billing and collecting of (and initiating collection proceedings relating to)
payments due to IKON (it being agreed that in no event shall IKON authorize any Person, other than
GE and GECITS, to utilize the name “IKON Financial Services”).

          3.3. GE Right of First Opportunity. Other than with respect to Excluded Transactions,
IKON shall cause to be offered to GECITS the first right to finance through the Program each
proposed sale, lease or rental of Equipment to Customers of any IKON Company at locations in the
United States (whether directly or, (a) with respect to any proposed IKON Originated Financing
Contract or SLG Financing Contract, by offering to sell and assign such proposed Financing
Contract, the Equipment subject thereto and the Purchased Assets in respect thereof to GECITS or
(b) with respect to any existing or proposed Program Facilities Management Agreement or Program
Equipment Management Agreement, by offering to sell and assign the related proposed Program Stream
Financing, the Equipment related thereto and the Purchased Assets in respect thereof to GECITS),
and IKON shall not (and shall cause its Subsidiaries not to) approach any other Person as to the
possibility of such Person’s financing or arranging for the financing (whether on an individual or
programmatic basis) of any proposed sale, lease or rental of Equipment, to Customers of any IKON
Company, at locations in the United States (collectively, the “Right of First
Opportunity”); provided, however, that (x) the Right of First Opportunity shall
not restrict the independent right of a Customer to utilize, directly or indirectly, any third
party financing source independently identified by such Customer to finance its acquisition of
Equipment and (y) notwithstanding the IKON Companies’ obligations to offer to GECITS the first
right to finance each sale, lease or rental of Equipment by the IKON Companies under the Program,
with respect to any proposed sale, lease or rental of Equipment under a proposed Program Financing
Contract, Program FM Stream Financing or Program EM Stream Financing rejected by GE on behalf of
GECITS, IKON may itself, or may arrange for a third party financing source to, provide financing
for such Customer with respect to such proposed sale, lease or rental; provided that if GE,
on behalf of GECITS, shall have approved a proposed Program Financing Contract, Program FM Stream
Financing or Program

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EM Stream Financing contingent upon the receipt of a specified level of recourse or other
financial accommodation from an IKON Company, no IKON Company shall offer or provide to such third
party financing source recourse or other financial accommodation (including acceptance by IKON of
an origination fee less than the Base Origination Fee) that is as much or more than such specified
recourse or financial accommodation.

          3.4. Sale of Equipment by IKON Companies Other Than IKON. Other than in connection
with Excluded Transactions, if any IKON Company other than IKON arranges or enters into any
agreement to lease Equipment to, or to provide financing for the acquisition of Equipment by,
Customers at locations in the United States, then prior to arranging or entering into such
agreement or providing such financing, IKON, GE and GECITS shall negotiate and enter into such
amendments to this Agreement and to the GE Operative Agreements and the IKON Operative Agreements
as are necessary to cause such other IKON Company to become a party to this Agreement in order to
provide for the transfer, sale and conveyance of Equipment (together with any related Financing
Contract and other assets of the type described in the definition “Purchased Assets”) to GECITS on
substantially the same terms (including representations, warranties, covenants and indemnities) and
subject to substantially the same conditions as provided hereunder in connection with Program
Financing Contracts and/or Program Stream Financings (and the Equipment subject thereto and
Purchased Assets in respect thereof). In connection with any such amendments to this Agreement,
IKON shall unconditionally guarantee the full and prompt performance and satisfaction of such other
IKON Company’s obligations to GE and GECITS hereunder and under each of the other applicable IKON
Operative Agreements.

          3.5. Federal Program. From and after the date hereof, IKON and GE will negotiate in
good faith the terms, conditions, provisions and processes pursuant to which GE (or one or more of
its Affiliates) would, during the Term, purchase from IKON (pursuant to one or more agreements
between GE (or an Affiliate of GE) and IKON), receivables relating to the lease or rental payments
in respect of Equipment subject to Federal Financing Contracts originated by IKON during the Term
(the date on which agreements with respect to the terms, conditions, provisions and processes for
the purchase from IKON by GE (or one or more of its Affiliates) of such receivables become
effective being the “Federal Program Integration Date”). During the period commencing on
the Original Effective Date and ending on the Federal Program Integration Date, IKON may offer to
GE, and GE may purchase from IKON, Program Federal Stream Financings pursuant to an executed
Federal Assignment Agreement.

          3.6. Purchase of Personal Property Tax Receivables. (a) From and from after the date
hereof, IKON shall sell to GECITS, and GECITS shall purchase and acquire from IKON, Personal
Property Tax Receivables with respect to Purchased Financing Contracts and Acquired Financing
Contracts, to the extent such Personal Property Tax Receivables constitute Excluded Assets as
defined in the Asset Purchase Agreement or the 2006 Purchase Agreement (respectively).

                    (i) On the Amendment Effective Date, IKON shall sell, transfer, assign and convey
to GECITS, and GECITS shall purchase from IKON, the

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Initial Personal Property Tax Receivables set forth on the Purchased Personal
Property Tax Schedule attached hereto as Annex G.

                    (ii) At any time the parties effect such sale and purchase after the Amendment
Effective Date, which IKON and GECITS agree will occur each month during the Term
commencing July, 2006, the parties shall prepare and execute a Purchased Personal
Property Tax Schedule in respect of the Personal Property Tax Receivables that are
intended to be sold pursuant to the provisions of this Section 3.6, which
Purchased Personal Property Tax Schedule shall include, among other things, the proposed
Transfer Date with respect thereto; it being agreed that in the event Personal Property
Tax Receivables are not uploaded, in the ordinary course, to the IKONICS system prior to
the last Business Day before to the end of any month, no sale and purchase shall be
required to occur during such month.

          (b) (i) On the Transfer Date with respect to any Purchased Personal Property Tax Receivables,
(A) IKON shall sell, transfer, convey and assign to GECITS, and GECITS shall purchase from IKON,
all of IKON’s right, title and interest in and to such Personal Property Tax Receivables, free and
clear of all Liens, (B) GECITS shall pay the aggregate Transfer Date Purchase Price with respect to
all Personal Property Tax Receivables to be purchased by GECITS on such Transfer Date, and (C) each
of IKON and GECITS shall execute and deliver to the other a Purchased Personal Property Tax Bill of
Sale with respect to the related Purchased Personal Property Tax Receivables.

                    (ii) On the date that is 90 days after a Transfer Date, GECITS shall pay to IKON
the aggregate Deferred Purchase Price with respect to all Purchased Personal Property
Tax Receivables transferred and sold to GECITS on such Transfer Date.

          (c) In the event that any of the information set forth on a Purchased Personal Property Tax
Schedule is inaccurate or incomplete on and as of the Transfer Date with respect to the related
Purchased Personal Property Tax Receivables, IKON and GECITS shall cooperate with each other to
correct, as promptly as practicable, any and all such inaccuracies with respect to such
information. Promptly after the parties reach agreement with respect to any such inaccuracies in
any such Purchased Personal Property Tax Schedule (or, if either party shall provide to the other
information which reasonably establishes any inaccuracy in any such Purchased Personal Property Tax
Schedule, within 10 Business Days after such information is provided), the parties shall prepare
and re-execute a revised Purchased Personal Property Tax Schedule (which schedule shall thereafter
be utilized, for all purposes, in determining the Transfer Date Purchase Price and the Deferred
Purchase Price for all Purchased Personal Property Tax Receivables covered thereby).

                    (i) In the event that (A) the sum of (1) the aggregate Transfer Date Purchase Price
plus (2) the aggregate Deferred Purchase Price, in each case, theretofore paid
by GECITS in respect of all Purchased Personal Property Tax Receivables covered by such
Purchased Personal Property Tax Schedule is less than (B) the sum of (1) the aggregate
Transfer Date Purchase Price plus (2) the aggregate

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Deferred Purchase Price, in each case, that would theretofore have been payable by
GECITS (determined solely by reference to such amended Purchased Personal Property Tax
Schedule), then GECITS shall promptly pay the amount of such deficiency to IKON.

                    (ii) In the event that (A) the sum of (1) the aggregate Transfer Date Purchase
Price plus (2) the aggregate Deferred Purchase Price, in each case, theretofore
paid by GECITS in respect of all Purchased Personal Property Tax Receivables covered by
such Purchased Personal Property Tax Schedule is greater than (B) the sum of (1) the
aggregate Transfer Date Purchase Price plus (2) the aggregate Deferred Purchase
Price, in each case, that would theretofore have been payable by GECITS (determined
solely by reference to such amended Purchased Personal Property Tax Schedule), then IKON
shall promptly pay the amount of such excess to GECITS.

          3.7. Product Reviews. From time to time during the Term, IKON shall seek to permit GE
and VFS Macon personnel to attend product reviews of IKON’s Equipment suppliers, including new
product introductions, schedules for anticipated product introductions and updates thereof,
anticipated pricing changes, projected monthly unit sales by model grouping and new marketing
programs.

          3.8. Training. GE shall sponsor training programs for Equipment sales personnel of
the IKON Companies in the United States and certain key operations personnel of the IKON Companies
in the United States involved in the administration of the Program, at which such individuals shall
receive training in the techniques of using leases and other financial products as sales tools and
such other matters as the parties may mutually agree. Such training programs shall be held with
such frequency and at such locations as IKON and GE may mutually agree. IKON shall encourage, and
shall use commercially reasonable efforts to cause, its Equipment sales personnel and such key
operations personnel to attend such training programs. Each party shall bear its own expenses in
connection with such training programs.

ARTICLE 4.

GE RATE SHEETS; CREDIT APPROVAL POLICY; RESIDUAL POLICY

          4.1. GE Rate Sheets; Changes. (a) The GE Rate Sheets in effect on the date hereof,
and the steps and assumptions utilized in connection with the preparation thereof (the “Base
Assumptions”), are attached hereto as Exhibit J. The rates set forth on the GE Rate
Sheets may be modified by GE to reflect changes in the underlying swap rates and/or deviations in
respect of actual Program portfolio composition from the Base Assumptions (provided that GE shall
not be entitled to modify the Base Assumptions) on not less than 60 days’ prior written notice to
IKON, and any such modification shall be accompanied by a notice from GE setting forth each of the
underlying swap rates utilized in the preparation of such modifications (it being agreed that
nothing contained in this Section 4.1 shall prohibit GE, on behalf of GECITS, from granting
(and GE, on behalf of GECITS, shall be entitled to grant) a conditional approval of a proposed
Program Financing Contract or Program Stream Financing that includes as a condition,

11

 

a change to the rate otherwise applicable to the related Customer and/or the proposed Program
Financing Contract or Program Stream Financing pursuant to the GE Rate Sheet then in effect). The
GE Rate Sheets, as in effect from time to time, shall incorporate residual values set forth in the
then-current Residual Policy by Equipment type.

          (b) (i) GE shall present to the Executive Committee (together with supporting materials) any
proposed increases in the rates set forth on the GE Rate Sheets that it desires to effect as a
consequence of the impact, on the average Program portfolio spread to GECITS under proposed Program
Financing Contracts and Program Stream Financings, of actual or anticipated accounting or tax
changes or other events or circumstances; provided, however, that, in each case,
such change, event or circumstance is reasonably expected to impact similarly situated U.S.-based
equipment lessors generally. After such presentation to the Executive Committee, GE shall be free
to implement the proposed increases to the GE Rate Sheets upon at least 60 days’ prior written
notice to IKON.

               (ii) Following any increase contemplated by clause (b)(i) and implemented without Executive
Committee approval, the parties hereto shall use their respective good faith efforts to resolve any
such disagreement in respect of such increases. In the event that the parties hereto are unable to
resolve any such disagreement within twenty (20) Business Days (a “Dispute”), then upon the
request of either IKON or GE, each of IKON and GE shall refer the Dispute to the CEO or CFO of IKON
(determined at the election of IKON) and the general manager of North American Leasing – GE Capital
Solutions business unit who shall attempt in good faith to resolve such disagreement.

               (iii) If the CEO or CFO of IKON and the general manager of North American Leasing – GE Capital
Solutions fail to resolve any Dispute within twenty (20) Business Days after such referral, then
the parties shall submit such Dispute to non-binding mediation in accordance with such rules upon
which the parties shall agree.

          (c) If during the Term there shall occur any changes in tax Law which (i) impact both the GE
Capital Solutions business unit and U.S.-based equipment lessors that are similarly situated to GE
Capital Solutions, (ii) provide favorable overall tax benefits to such U.S.-based equipment lessors
and (iii) result in such similarly situated U.S.-based equipment lessors decreasing financing rates
to such lessors’ end-user customers, then IKON may present to GE one or more proposals that would
similarly reduce the average Program portfolio margin to GECITS reflected in the rates set forth on
the GE Rate Sheets. Unless GE shall deliver to IKON a written certification certifying that GE
Capital Solutions has not received (or shall not receive), through internal allocations from GE,
the benefit of such tax changes, GE shall, within 90 days of IKON’s request, effect such
modifications to the GE Rate Sheets as GE shall reasonably determine are appropriate to pass on to
Customers the benefit to GE Capital Solutions of such tax benefits (to the extent such tax benefits
are passed on by similarly situated U.S.-based equipment lessors to their customers).

          (d) In addition to the modifications to the GE Rate Sheets contemplated by Sections
4.1(a), 4.1(b) and 4.1(c), either GE or IKON may, based on changes in the
market perceived by GE or IKON, present to the other increases in the rates set forth on the GE
Rate

12

 

Sheets that it desires to effect; provided, however, that any such rate
increases shall require the approval of the Executive Committee and shall be shared equally by
GECITS and IKON. For the avoidance of doubt, each of GE, GECITS and IKON acknowledges and agrees
that IKON shall be entitled to retain, for its own account, all amounts received in respect of the
Purchase Price of Equipment resulting from Commissioned Rates.

          (e) During the Term, the GE Rate Sheets shall not be amended, modified or supplemented other
than as contemplated by Sections 2.1(i)(ii), 4.1(a), 4.1(b), 4.1(c)
or 4.1(d).

          (f) GE shall, during the Term, deliver to the IKON Relationship Manager the IKON National Rate
Chart, in electronic format, which shall incorporate the rates contained in the GE Rate Sheets and
the Commissioned Rates, in each case, as of the time of such delivery by GE. IKON shall be
entitled, from time to time, to require GE to revise the IKON National Rate Chart by delivering to
GE the Commissioned Rates to be incorporated therein not less than two (2) Business Days prior to
the date such IKON National Rate Chart is to become effective. GE shall deliver to the IKON
Relationship Manager any such revised IKON National Rate Chart so requested, in electronic format,
in accordance with the immediately preceding sentence on or prior to the date such revised rates
are to become effective. During the Term, the IKON National Rate Chart shall not be amended,
modified or supplemented other than as contemplated by this Section 4.1(f).

          (g) Notwithstanding the foregoing, GE may, solely for its internal purposes (and without
affecting the then current lease rate factors), effectively reduce the average Program spread to
accommodate a corresponding decrease in residual values during the period following notice to IKON
of a proposed change in the Residual Policy but prior to the effectiveness thereof pursuant to
Section 4.3(b).

          4.2. Credit Approval Policy; Changes. The Credit Approval Policy in effect on the
date hereof is attached as Exhibit B. GE shall provide IKON with not less than 30 days’
prior written notice of any changes to the Credit Approval Policy, together with GE’s rationale for
such changes and such supporting information as IKON reasonably requests. GE, GECITS and IKON
acknowledge and agree that GE shall maintain final authority on changes to the Credit Approval
Policy and associated credit decisions (including credit decisions based upon Obligor credit rating
and credit decisions based upon actual or anticipated levels of recourse to or reliance upon IKON).

          4.3. Residual Policy; Changes.

          (a) The Residual Policy in effect on the date hereof is attached hereto as Exhibit A.
Subject to the limitations set forth in Section 4.3(b), from time to time after the date
hereof, GE may make such changes to the Residual Policy as GE determines to be appropriate;
provided that such changes are consistent with GE’s treatment of residual positions with
respect to equivalent equipment under substantially similar GE Capital Solutions programs with
independent equipment dealers or manufacturers. Notwithstanding the foregoing, in no event shall
GE or GECITS have any obligation to disclose residual or any other information to any IKON Company
in respect of GE Capital Solutions’ other dealer or manufacturer programs, and

13

 

IKON (on behalf of itself and each other IKON Company) hereby irrevocably waives all rights to
require GE or GECITS to do so.

          (b) GE shall provide IKON with not less than 60 days’ prior written notice of any proposed
changes to the Residual Policy and shall, together with such notice, provide supporting materials
in respect of such proposed changes as GE shall determine to be appropriate. Within such 60-day
period, IKON shall be entitled to accept or reject any increase to the residual values so proposed
by GE by delivering written notice thereof to GE. GE shall be entitled to effect any such proposed
changes, other than any proposed increase in the residual values rejected by IKON in writing during
the 60-day period referred to above. IKON shall have the right to offer additional residual
pricing support in the amount of any decrease implemented by GE (whether on an individual
transaction basis or with respect to classes or categories of Equipment subject to any Program
Financing Contracts or related to any Program Stream Financings), including residual pricing
support of the type contemplated by Section 5.10.

          (c) Notwithstanding anything to the contrary contained herein, GE shall be entitled to
supplement the Residual Policy from time to time to add residual information with respect to new
items or models of Equipment not previously included in the Residual Policy. In addition, GE shall
be entitled to amend, modify or supplement the Residual Policy, in its sole discretion, in order to
add or change the residual values in respect of any Non-Core Equipment included or to be included
therein (whether in connection with an individual Program Financing Contract or Program Stream
Financing or with respect to classes or categories of Non-Core Equipment or otherwise);
provided, however, that nothing contained herein shall create or be deemed to
create any obligation of GE to supplement or amend the Residual Policy to include Non-Core
Equipment.

ARTICLE 5.

LEASE ORIGINATIONS

          5.1. Calculation and Allocations of Minimum Periodic Payment. (a) The Minimum
Periodic Payment in respect of each Originated Financing Contract, IKON Originated Financing
Contract, SLG Financing Contract or Program Stream Financing Agreement that, in each case,
constitutes a Bundled Financing Contract shall, for the purposes of the Program, be allocated as
among the Lease Payment (with respect to any such Originated Financing Contract, IKON Originated
Financing Contract or SLG Financing Contract) or the Program Stream Financing Payment (with respect
to any Program Stream Financing Agreement), the Base Equipment Service Payment, (unless such
Originated Financing Contract, IKON Originated Financing Contract, SLG Financing Contract or
Program Stream Financing Agreement provides for such reimbursement to be separately billed to the
Obligor) the Uplift Payment (which Uplift Payment (calculated on a monthly basis) shall be deemed
to be an amount equal to the product of (x) the Uplift Allocation Percentage multiplied
by (y) a fraction, the numerator of which is the Original Equipment Cost of the Equipment
subject or related to such Program Financing Contract or Program Stream Financing and the
denominator of which is 12), and (unless such Originated Financing Contract, IKON Originated
Financing Contract, SLG Financing Contract or Program Stream Financing Agreement provides for such
reimbursement to be separately

14

 

billed to the Obligor) the Sales Tax Payment (which Sales Tax Payment shall be deemed to be an
amount equal to the result of (x) the sum of (i) the product of (A) the Original Equipment Cost of
the Equipment subject or related to such Program Financing Contract or Program Stream Financing (as
applicable) multiplied by (B) the sales tax rate applicable to the Lease Payment or
Program Stream Financing Payment (at the inception date of such Program Financing Contract or
Program Financing Stream) plus (ii) the product of (A) the Original Equipment Cost of the
Equipment subject or related to such Program Financing Contract or Program Stream Financing (as
applicable) multiplied by (B) the sales tax rate applicable to the Base Equipment
Service Payment (at the inception date of such Program Financing Contract or Program Financing
Stream) divided by (y) the number of months of the original term of such Program
Financing Contract or Program Stream Financing), each in the manner set forth in Exhibit F
(the “Allocation Policy”).

For each proposed Originated Financing Contract, IKON Originated Financing Contract, SLG
Financing Contract or Program Stream Financing Agreement that has been submitted to GE for approval
for funding under the Program (whether or not a Bundled Financing Contract), IKON shall deliver to
GE a completed worksheet, in the form attached as Exhibit D, via the CLAS system or as
otherwise agreed, setting forth each of the applicable components of the Minimum Periodic Payment
thereunder as contemplated by Section 5.5(b)(i).

               (i) If during the Term there shall occur any changes in personal property tax Law or
applicable rates which GE reasonably believes will have the effect of rendering the Uplift Payments
in respect of Property Tax Inclusive Financing Contracts (A) insufficient to satisfy all of GECITS’
personal property tax obligations with respect to future Property Tax Inclusive Financing
Contracts, then GE shall be entitled, upon not less than 90 days prior written notice to IKON, to
increase the Uplift Allocation Percentage with respect to all future Property Tax Inclusive
Financing Contracts to such percentage as GE shall reasonably determine is appropriate to price
into new Property Tax Inclusive Financing Contracts the full anticipated amount of the personal
property tax required to be paid by GECITS to the appropriate Governmental Entities in respect
thereof or (B) more than sufficient to satisfy all of GECITS’ personal property tax obligations
with respect to future Property Tax Inclusive Financing Contracts, then GE shall, within 90 days
after such determination, decrease the Uplift Allocation Percentage with respect to all future
Property Tax Inclusive Financing Contracts to such percentage as GE shall reasonably determine is
appropriate to price into new Property Tax Inclusive Financing Contracts an amount sufficient to
satisfy the personal property tax required to be paid by GECITS to the appropriate Governmental
Entities in respect thereof.

               (ii) The IKON National Service Price List, the IKON National FM Price List and the IKON
National Equipment Price List, each as in effect on the Original Effective Date, have previously
been delivered to GE. From and after the Original Effective Date, IKON has provided and shall
continue to provide GE with copies of any and all amendments, modifications or supplements to the
IKON National Equipment Price List, the IKON National Service Price List and the IKON National FM
Price List (whether in hard copy, via electronic transmission (in an agreed format) or by posting
such information on the website “www.IKON.org” in a subfolder both identified, in writing, to GE
and in respect of which GE

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shall have been given (and shall maintain) full access) by no later than the earlier to occur
of (x) the date that IKON distributes any such amendments, modifications or supplements to its
sales force and (y) the effective date of any such amendments, modifications or supplements.

          (b) For purposes of the services required to be performed by GE and GECITS pursuant to this
Agreement, the Servicing Agreement, the Subservicing Agreements and the Services Agreement
(including determining the amounts, if any, required to be remitted to IKON under any Purchased
Financing Contract, Acquired Financing Contract (from and after the Amendment Effective Date) or
Program Facilities Management Agreement the Program FM Stream Financing in respect of which was
purchased by GECITS pursuant to the Asset Purchase Agreement), GE and GECITS shall be entitled to
rely on (x) the allocation of the Minimum Periodic Payment under each Purchased Financing Contract
and Program Facilities Management Agreement (as among the Lease Payment or Program FM Stream
Financing Payment (as applicable), Base Equipment Service Payment, any applicable Uplift Payment
and any applicable Sales Tax Payment) reflected on the Purchased Assets (as defined in the Asset
Purchase Agreement) comprised of the books and records of IOS Capital (immediately prior to the
consummation of the Pre-Closing Merger) and IKON (as successor by merger to IOS Capital) and (y)
the allocation of the Minimum Periodic Payment under each Acquired Financing Contract (as among the
Lease Payment, Base Equipment Service Payment, any applicable Uplift Payment and any applicable
Sales Tax Payment) reflected on the books and records of IKON (prior to giving effect to the
consummation of the transactions contemplated by the 2006 Purchase Agreement).

          (c) The allocation of the Minimum Periodic Payment under a Program Financing Contract at the
inception of an Originated Financing Contract, IKON Originated Financing Contract, SLG Financing
Contract or Program Stream Financing Agreement the Program Stream Financing in respect of which is
purchased by GE from IKON pursuant to this Agreement (or, (x) in the case of a Purchased Financing
Contract or Program Facilities Management Agreement the Program FM Stream Financing in respect of
which was purchased by GECITS under the Asset Purchase Agreement or (y) in the case of an Acquired
Financing Contract purchased by GECITS under the 2006 Purchase Agreement, as set forth in
Section 5.1(b)) shall, subject to any amendments thereto effected in accordance with
Section 5.8(c), govern the allocation thereof through the end of the term of such Program
Financing Contract or Program Stream Financing Agreement (as applicable); provided,
however, that notwithstanding the foregoing, (x) any periodic increases to the Minimum
Periodic Payment that are expressly provided for in a Program Financing Contract or Program Stream
Financing Agreement shall be allocable solely to the Base Equipment Service Payment under such
Program Financing Contract or Program Stream Financing Agreement (as applicable) and (y) GE, GECITS
and IKON may agree to reallocate the components of the Minimum Periodic Payment in respect of any
Program Financing Contract or Program Stream Financing Agreement during any extension or renewal
period thereof (in recognition of the reduced value of the Equipment subject or related thereto and
the increased cost of performance of the Equipment Service Obligations in respect thereof) to
increase the Base Equipment Service Payment thereunder (by up to 15% of the amount thereof) and to
make a corresponding decrease in the amount of the Lease Payment or Program Stream Financing
Payment (as applicable) thereunder. Except as otherwise specified in any

16

 

Program Financing Contract or Program Stream Financing Agreement, the CPC Payment, (except for
Property Tax Inclusive Financing Contracts) the Uplift Payment, (except for Sales Tax Inclusive
Financing Contracts) the Sales Tax Payment, and the CPI Charges (if any) shall be in addition to
(and itemized separately from) the Minimum Periodic Payment and, therefore, shall not be subject to
“allocation” as provided above.

          5.2. Application of Payments. Except to the extent the terms of any Securitization
Documents otherwise require (in which case the terms of such Securitization Documents shall
govern), all payments made by an Obligor under each Program Financing Contract and Program Stream
Financing Agreement and received by or on behalf of GE or GECITS shall be applied in the manner set
forth in the Application Methodology attached as Exhibit E hereto (the “Application
Methodology”). Notwithstanding the foregoing, if an Obligor under a Program Financing Contract
or Program Stream Financing Agreement has made a partial payment in respect of such Program
Financing Contract or Program Stream Financing Agreement and has specified how it wants such
payment applied, then such payment shall be applied in accordance with such Obligor’s
specifications. Except as otherwise permitted to do so by IKON, neither GE nor GECITS shall
instruct any Obligor under any Program Financing Contract or Program Stream Financing Agreement to
direct the application of any payments made or to be made by such Obligor thereunder that would
cause amounts due and owing to GECITS (which GECITS is entitled to retain for its own account) to
be paid in lieu of payments that would, under the Application Methodology, otherwise be required to
be remitted by GE to IKON. Except as otherwise permitted to do so by GE or GECITS, IKON shall not
instruct any Obligor under any Program Financing Contract or Program Stream Financing Agreement to
direct the application of any payments made or to be made by such Obligor thereunder that would
cause amounts due and owing to IKON to be paid in lieu of payments that would, under the
Application Methodology, otherwise be required to be remitted to or retained by GECITS.

          5.3. Remittance of Payments. (a) Except to the extent the terms of any
Securitization Documents otherwise require (in which case the terms of such Securitization
Documents shall govern), and except with respect to Purchased Personal Property Tax Receivables
purchased by GECITS pursuant to Section 3.6 hereof (which GECITS shall, notwithstanding
anything to the contrary set forth in this Agreement (including Section 5.3(a)(i) or
Section 5.3(a)(ii) below), be entitled to retain for its own account), all amounts received
by or on behalf of GE or GECITS pursuant to any Program Financing Contract (other than a
Written-Off Financing Contract) shall be remitted or retained as follows (subject, in each case, to
the application priorities set forth in the Application Methodology):

               (i) (A) The Base Equipment Service Payments, the CPI Charges billed and uncollected as of the
date hereof (if any), the Service Sales Tax Payments and CPC Payments received by or on behalf of
GE or GECITS pursuant to any Program Financing Contract, (B) those Late Charges and recovery
settlement receivables not reflected as assets on any of the Final Adjusted Closing Date Schedules
(if any) that, in the case of this clause (B), are billed and uncollected as of the date hereof and
are hereafter received by GE or GECITS under any Purchased Financing Contract and (C) Uplift
Payments the property tax obligations relating to which are borne by IKON pursuant to Section
8.3(e) shall, in the case of (A), (B) and (C)

17

 

above, be remitted by GE to IKON within one (1) Business Day after such amounts are received
and identified by GE and the proper application thereof has been determined by GE, and

               (ii) The Lease Payments, Equipment Sales Tax Payments, (except to the extent otherwise
provided in (x) Section 5.03(b) of the Asset Purchase Agreement (solely in respect of
Purchased Financing Contracts) or (y) Section 5.03(b) of the 2006 Purchase Agreement
(solely in respect of Acquired Financing Contracts)) Uplift Payments (if any) (other than any
Uplift Payments of the type described in Section 5.3(a)(i)(C) above), CPI Charges (other
than CPI Charges billed and uncollected as of the date hereof (if any)), Administration Fees
thereunder, payments made in connection with the exercise by an Obligor of any right to purchase
Equipment subject to such Program Financing Contract, Late Charges, Insurance Proceeds, Equipment
casualty payments by the related Obligor, Obligor indemnity payments in respect of any of the
foregoing or in respect of the Equipment subject to such Program Financing Contract and all other
amounts (other than unidentified proceeds (so long as such proceeds remain unidentified) and except
as expressly provided in clause (i) above) received by or on behalf of GE or GECITS pursuant to any
Program Financing Contract shall be retained by GECITS for its own account.

               (iii) GE shall make the payments described in Section 5.3(a)(i) above because IKON has
agreed to perform the obligations described in Section 8.3(a). The payment by GE of such
amounts shall not be conditioned upon the performance by IKON of such obligations.

          (b) Except with respect to Purchased Personal Property Tax Receivables purchased by GECITS
pursuant to Section 3.6 hereof (which GECITS shall, notwithstanding anything to the
contrary set forth in this Agreement (including Section 5.3(b)(i) or Section
5.3(b)(ii) below), be entitled to retain for its own account), all amounts received by or on
behalf of GE or GECITS pursuant to any Program Stream Financing Agreement shall be remitted or
retained as follows (subject, in each case, to the application priorities set forth in the
Application Methodology referred to in Section 5.2 above):

     (i) The Program Stream Financing Payments, and (except to the extent otherwise provided
in Section 5.03(b) of the Asset Purchase Agreement (solely in respect of Program FM
Stream Financings purchased pursuant thereto)) any Uplift Payments (other than Uplift
Payments the property tax obligations relating to which are borne by IKON pursuant to
Section 8.3(e)), Equipment Sales Tax Payments, CPI Charges (other than CPI Charges
billed and uncollected as of date hereof (if any)), Administration Fees, any Late Charges in
respect thereof (except as expressly provided in clause (b)(ii) immediately below), payments
made in connection with the exercise by an Obligor of any right to purchase Equipment
related to any Program Stream Financing, Insurance Proceeds, Equipment casualty payments by
the related Obligor, Obligor indemnity payments in respect of any of the foregoing or in
respect of the Equipment related to any Program Stream Financing, in each case, received by
or on behalf of GECITS shall be retained by GECITS for its own account, and

18

 

     (ii) All other amounts, including any Service Sales Tax Payments, Late Charges and
recovery settlement receivables not reflected as assets on the Final Adjusted Closing Date
Schedule (if any) that are billed and uncollected as of the date hereof and are hereafter
received by or on behalf of GE or GECITS under any Program Stream Financing Agreement (other
than unidentified proceeds (so long as such proceeds remain unidentified) and except as
expressly provided in clause (i) above) received by or on behalf of GE or GECITS pursuant to
any Program Stream Financing Agreement shall be remitted by GE to IKON in accordance with
Section 2(d) of the Servicing Agreement within one (1) Business Day after such
amounts are received and identified by GE and the proper application thereof has been
determined by GE.

     (iii) GE’s obligations under Section 5.3(b)(ii) are not conditioned upon IKON’s
performance of its Equipment Service Obligations with respect to any Program Stream
Financing Agreement.

GE shall use commercially reasonable efforts, consistent with Business as Usual, to identify, and
determine the proper application of, all amounts received by it in respect of Program Financing
Contracts (in accordance with Section 5.3(a)) and Program Stream Financing Agreements (in
accordance with Section 5.3(b)) as promptly as practicable following its receipt thereof.
If GE is unable, within 20 Business Days following its receipt of any payment by or on behalf of an
Obligor under a Program Financing Contract or Program Stream Financing Agreement, to identify and
apply such cash pursuant to the provisions of Section 5.3(a) or 5.3(b), then GE
shall (x) promptly contact such Obligor (whether telephonically or in writing) for purposes of
determining the proper application of such payment and (y) concurrently with such Customer contact,
notify the IKON Director of Macon Shared Services Center (or other Person identified by IKON to GE
in writing) of the amount of such unidentified payments and the Customer from whom such payments
were received. Unless otherwise instructed by the Obligor on or prior to the day that is five (5)
Business Days after GE first contacts such Obligor and IKON of the unidentified payments, GE shall
(x) remit to IKON such amount as IKON notifies GE are due and owing by such Obligor to IKON at such
time and (y) return such payments (or any portion thereof not remitted to IKON) to such Obligor.

          5.4. Financing Documentation; Exceptions. (a) GE shall provide IKON with the Standard
Form Documentation (including the Exceptions Manual) and form of Application. GE shall be
permitted to modify or change any Standard Form Documentation and develop new or additional
Standard Form Documentation; provided, that except to the extent that GE determines that a
modification or other change thereto is necessary or prudent to comply with applicable Law or
provide appropriate legal disclosures, prior to GE implementing any material modifications or
changes to, or any material new or additional, Standard Form Documentation, IKON shall have the
right to review and approve any such modifications or changes or new or additional documentation.

          (b) (i) IKON shall cause its sales, legal and similar personnel to use reasonable commercial
efforts to utilize the Standard Form Documentation in connection with each proposed Originated
Financing Contract, IKON Originated Financing Contract, SLG Financing Contract and Federal
Financing Contract (whether or not any related Equipment

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Service Obligations of IKON are contemplated to include obligations to provide facilities
management services); it being agreed that the foregoing shall not apply to any Program Facilities
Management Agreement listed on Schedule 2 hereto prior to the earlier of (1) the expiration
date thereof set forth opposite such agreement on Schedule 2 and (2) the date such Program
Facilities Management Agreement is amended or otherwise modified to conform to the Standard Form
Documentation. IKON shall promptly coordinate with designated GE representatives with respect to
any changes proposed by the Customer in respect of any proposed Originated Financing Contract, IKON
Originated Financing Contract, SLG Financing Contract or Federal Financing Contract which are not
otherwise permitted by the Exceptions Manual, including by (A) delivering to GE all such changes
promptly following the delivery thereof to IKON’s legal department (except to the extent that
IKON’s legal department, in the exercise of its reasonable judgment, deems the Customer’s proposed
changes to be unacceptable and would not recommend to GE and GECITS the financing thereof, in which
case the IKON legal department may, prior to or in lieu of presentation of such Customer proposed
changes to GE, attempt to negotiate terms more favorable to the lessor, in which case any such
negotiated changes which are not otherwise permitted by the Exceptions Manual shall be delivered to
GE), (B) promptly reviewing and responding to Customer comments or proposed changes to any proposed
Program Financing Contract or Program Stream Financing Agreement, (C) promptly presenting to the
applicable Customer any changes to such proposed Originated Financing Contract, IKON Originated
Financing Contract, SLG Financing Contract or Federal Financing Contract (as applicable) proposed
by GE or GECITS, and (D) using commercially reasonable efforts to negotiate with such Customer all
such proposed changes communicated by GE or GECITS.

               (ii) Upon GE’s receipt from IKON of a draft proposed Originated Financing Contract, IKON
Originated Financing Contract or SLG Financing Contract containing proposed changes to the Standard
Form Documentation requested by the Customer (which shall have been delivered to IKON’s legal
department pursuant to Section 5.4(b)(i)), GE shall (and shall cause GECITS to) respond to
IKON in respect of such proposed changes (which may be by approving, rejecting and/or modifying
such changes), on average, for any month during the Term, within three (3) Business Days of its
receipt thereof.

          (c) Nothing contained in this Agreement shall limit in any manner GE’s or GECITS’ right to
negotiate with Customers and otherwise change, from the Standard Form Documentation, the
documentation with respect to any actual or proposed Originated Financing Contract, IKON Originated
Financing Contract or SLG Financing Contract with a Customer, except (i) to the extent such change
shall (A) increase any obligation of IKON (including any warranty obligation to be retained by
IKON) to the Obligor thereunder or (B) reduce, from the amount determined pursuant to Section
5.1, the amount of any CPC Payment or Base Equipment Service Payment due or to become due
thereunder, and (ii) that IKON may require GE to agree (A) not to charge, with respect to any
Originated Financing Contract, or (B) to accept proposed changes to any proposed IKON Originated
Financing Contract, SLG Financing Contract, Program Equipment Management Agreement or Program
Facilities Management Agreement, in each case, which have the sole effect of omitting to charge,
late fees or delinquency charges thereunder; provided that, in determining the Purchase
Price for the Equipment subject or related

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thereto, the Discount Rate that would otherwise be applicable to such Originated Financing
Contract, IKON Originated Financing Contract, SLG Financing Contract or to the related Program
Stream Financing (as applicable) in accordance with the GE Rate Sheets shall be increased by 1%.
GE acknowledges and agrees that unless otherwise requested by IKON, GE shall not directly negotiate
with Customers with respect to the documentation in respect of any proposed Program Facilities
Management Agreement or Program Equipment Management Agreement.

          5.5. Credit Approval; Preparation of Document Package.

          (a) Credit Approval. Upon its receipt from IKON of (i) a complete Application for
approval of a credit line in respect of a proposed Customer (which Application shall be executed by
the applicable Customer if a personal guaranty is required to be given or if GE determines that a
bank reference is required to be obtained, in each case, in connection with such Application
pursuant to the Credit Approval Policy) and (ii) all other information required pursuant to the
Credit Approval Policy with respect to such Application, GE shall (A) promptly (1) notify IKON that
such Application is complete and (2) conduct such credit investigation and analysis of such
Customer as it deems necessary, and (B) approve, conditionally approve or reject each such
Application, on average, for each month during the Term, within the applicable Credit Approval
Period. The parties hereto acknowledge and agree that any approval or conditional approval of any
Application shall not constitute an approval or conditional approval of any proposed Program
Financing Contract or Program Stream Financing.

          (b) Preparation of Document Package. In connection with each proposal for a Customer
to enter into an Originated Financing Contract, IKON Originated Financing Contract, SLG Financing
Contract or Federal Financing Contract, or to rent or lease Equipment pursuant to a Program
Facilities Management Agreement or Program EM Stream Financing (which proposal may be delivered to
GE concurrently with an Application for such Customer or at any time during the period for which an
approval or conditional approval in respect of an Application for such Customer is in effect) IKON
shall transmit to GE (whether in hard copy or in an agreed electronic format) all credit and other
information required pursuant to the Credit Approval Policy with respect to such proposed
Originated Financing Contract, IKON Originated Financing Contract or SLG Financing Contract, or
with respect to the Program Stream Financing related to such Federal Financing Contract, Program
Facilities Management Agreement or Program Equipment Management Agreement (as applicable)
(collectively, with the complete Application, the “Document Package” for such proposed
Originated Financing Contract, IKON Originated Financing Contract, SLG Financing Contract or
Program Stream Financing (as applicable)), which information shall include:

               (i) in respect of each such Originated Financing Contract, IKON Originated Financing Contract,
SLG Financing Contract, Program FM Stream Financing or Program EM Stream Financing, (A) a detailed
description and listing of the Equipment to be covered thereby, together with the related pricing
worksheets setting forth (if applicable) the allocation of each component of the Minimum Periodic
Payment as provided in Section 5.1 above and the manner of the computation thereof,
together with the amounts of all other payments (if any) required to be made by the Obligor
thereunder, and (B) such other credit and

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financial documentation and information as may be reasonably requested by GE from IKON or the
applicable Customer as contemplated by the Credit Approval Policy, and

               (ii) solely with respect to each proposed SLG Financing Contract, Program FM Stream Financing
or Program EM Stream Financing in respect of which the Obligor thereunder is a State and Local
Government Entity, (A) the name and telephone number of the Customer’s designated contact, (B) a
copy of any RFP response or comparable proposal that IKON presented to the Customer under such
proposed SLG Financing Contract or the Program Facilities Management Agreement or Program Equipment
Management Agreement relating to such proposed Program FM Stream Financing or Program EM Stream
Financing (as applicable), (C) a copy of each RFP, bid award, contract and purchase order, if
applicable, related to such proposed SLG Financing Contract or the Program Facilities Management
Agreement or Program Equipment Management Agreement relating to such proposed Program FM Stream
Financing or Program EM Stream Financing, (D) an essential use audit/information statement
completed by the Customer under such proposed SLG Financing Contract or the Program Facilities
Management Agreement or Program Equipment Management Agreement relating to such proposed Program FM
Stream Financing or Program EM Stream Financing, in each case, to the extent the Original Equipment
Cost of all Equipment proposed to be subject thereto is in excess of $100,000, (E) to the extent
that the consent or approval of the applicable State and Local Government Entity is required prior
to any assignment thereof (or the Program Stream Financings thereunder or RFPs with respect
thereto), a consent letter (in the form of Exhibit H-2) duly executed by such State and
Local Government Entity, and (F) if such SLG Financing Contract, Program FM Stream Financing or
Program EM Stream Financing is submitted as a Tax-Exempt Public Sector Financing, an Internal
Revenue Service Form 8038-G or 8038-GC, as the case may be, duly executed by the Customer under
such SLG Financing Contract, Program Facilities Management Agreement or Program Equipment
Management Agreement relating to such proposed Program FM Stream Financing or Program EM Stream
Financing (as applicable). After GE’s approval of an SLG Financing Contract, Program FM Stream
Financing or Program EM Stream Financing (but before GECITS’ purchase thereof), IKON shall deliver
to GE a copy of such Customer’s board minutes or other documents evidencing approval and such other
document(s) as may be required pursuant to the Credit Approval Policy.

          (c) GE and IKON shall establish mutually acceptable procedures pursuant to which IKON shall
timely transmit to GE (via the CLAS system or as otherwise agreed) all of the information required
to be delivered by it to GE pursuant to Sections 5.5(a) and 5.5(b) above.

          (d) Upon the request of IKON, and to the extent GE and GECITS are legally permitted to do so
(pursuant to applicable Law, contracts to which either of them is a party or by which either of
them are bound, or otherwise), GE shall deliver to IKON copies of any credit, financial or other
information obtained or prepared by GE in connection with the credit review of any Applications or
proposed Originated Financing Contracts, IKON Originated Financing Contracts, SLG Financing
Contracts or Program Stream Financings rejected by GE. IKON acknowledges and agrees that (i) any
such information or documentation delivered by GE or GECITS to IKON pursuant to this Section
5.5(d) (and not pursuant to any other provision of this Agreement, any IKON Operative Agreement
or GE Operative Agreement) shall be delivered

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without representation or warranty of any kind, and neither GE nor GECITS shall have any
liability or obligation to IKON under this Agreement in connection with the delivery to, or use by
IKON, of such documentation and information and (ii) IKON shall not, except as otherwise expressly
consented to by GE (which consent may be withheld by GE in its sole discretion) or required
pursuant to the terms of a valid and effective subpoena or Order of a court of competent
jurisdiction, distribute, publish or make available to any other Person any information or
documentation provided to IKON by GE pursuant to this Section 5.5(d). In the event that
IKON receives a request to disclose all or any part of the information or documentation provided to
it pursuant to this Section 5.5(d) (and not pursuant to any other provision of this
Agreement or any IKON Operative Agreement or GE Operative Agreement) under the terms of a valid and
effective subpoena or Order issued by a court of competent jurisdiction, IKON agrees that it shall
(i) immediately notify GE, in writing, of such request and the terms thereof, (ii) consult with GE
on the advisability of taking available steps to resist or narrow such request and (iii) assist GE
or GECITS (at GE’s and GECITS’ expense) in seeking a protective order or other appropriate remedy.
In the event such protective order or other remedy is not obtained, IKON shall be entitled to
disclose only that portion of such information and/or documentation which, in the opinion of its
counsel, is legally required by Law to be disclosed, and shall use commercially reasonable efforts
to obtain assurance that confidential treatment will be accorded such information and/or
documentation.

          5.6. Authorization. (a) Upon confirmation by GE that it has received (i) a complete
Document Package with respect to a proposed Originated Financing Contract, IKON Originated
Financing Contract, SLG Financing Contract or Program Stream Financing (as applicable), and
provided that (A) the sum of (x) the Purchase Price with respect to the Equipment (other than
Non-Core Equipment) to be subject or related to such proposed Originated Financing Contract, IKON
Originated Financing Contract, SLG Financing Contract or Program Stream Financing plus (y)
the purchase price payable to any third party supplier with respect to any Non-Core Equipment to be
subject or related to such proposed Originated Financing Contract, IKON Originated Financing
Contract, SLG Financing Contract or Program Stream Financing, does not exceed the then-remaining
undrawn credit line approved by GE for the related Customer thereunder and (B) any approval or
conditional approval of any applicable Application shall not have terminated, expired or been
revoked, in each case, pursuant to Section 5.6(c) or (d)) and (ii) evidence as to
the satisfaction of all conditions to any conditional approval prior to the date that such
conditional approval shall expire or be revoked pursuant to Section 5.6(c) or (d),
then GE shall notify IKON (via the CLAS system or otherwise) as to whether it has approved, or
conditionally approved or rejected the purchase by GECITS of the Equipment subject or related to
such proposed Originated Financing Contract, IKON Originated Financing Contract, SLG Financing
Contract or Program Stream Financing (as applicable) in the manner set forth below. Unless
otherwise agreed to in a writing delivered to IKON by GE, any such approval or conditional approval
shall be subject to (and any obligation of GECITS to remit to IKON the Purchase Price in respect
thereof shall be conditioned upon) GE’s receipt of a Confirmation of Acceptance and an original
Program Financing Contract or Program Stream Financing Agreement (which conforms to the Standard
Form Documentation unless otherwise agreed by GE), duly executed by the applicable Obligor, in each
case, with respect to the Equipment subject thereto.

23

 

          (b) Except with respect to Equipment placed with the Customer pursuant to a trial or
demonstration arrangement, IKON shall implement policies designed to prevent the shipment of any
Equipment subject or related to a proposed Originated Financing Contract, IKON Originated Financing
Contract, SLG Financing Contract or Program Stream Financing prior to (i) the execution and
delivery by the applicable Customer of an Originated Financing Contract, IKON Originated Financing
Contract, SLG Financing Contract or Program Stream Financing Agreement (or lease addendum or
amendment with respect to such Equipment) (as applicable) relating to the rental or lease of such
Equipment to such Customer and (ii) the delivery of faxed copies or originals of such documentation
to IKON. In the event that any Responsible Officer of any IKON Company learns of any such shipment
prior to such time, IKON shall immediately notify GE. Such notice shall not relieve IKON of its
obligation to deliver to GECITS good title to the Equipment that is the subject thereof.

          (c) Notwithstanding anything to the contrary contained herein, unless otherwise agreed to by
GE in any particular instance in writing, (i) GE’s credit approval of a Application for a Customer
credit line shall expire six (6) months after such approval, (ii) if amendments to the GE Rate
Sheet made pursuant to Section 4.1 shall become effective during the period between the
date a pricing quote in respect of a proposed Originated Financing Contract, IKON Originated
Financing Contract, SLG Financing Contract or Program Stream Financing is communicated to IKON and
the Transfer Date in respect of the Equipment subject to such pricing quote, then such pricing
quote shall be deemed automatically to be amended, as of the Transfer Date, to reflect the rates
set forth in the GE Rate Sheets in effect on such Transfer Date and (iii) GE’s approval of a
proposed purchase of Equipment under a proposed Originated Financing Contract or of a proposed
purchase of any IKON Originated Financing Contract, SLG Financing Contract or Program Stream
Financing (and the Purchased Assets and Equipment related thereto) shall automatically be revoked
if IKON shall, in accordance with its past practices, effect a “sale reversal” with respect to the
related Equipment.

          (d) (i) GE, on behalf of GECITS, may at any time prior to the Transfer Date relating to the
Equipment subject or related to a proposed Originated Financing Contract, IKON Originated Financing
Contract, SLG Financing Contract or Program Stream Financing, upon notice to IKON, revoke its
approval or conditional approval, of (i) an Application for a credit line delivered pursuant to
Section 5.5, or (ii) the purchase of any Equipment (and any related IKON Originated
Financing Contract, SLG Financing Contract, Program Stream Financing and Purchased Assets) subject
or related to such proposed Originated Financing Contract, IKON Originated Financing Contract, SLG
Financing Contract or Program Stream Financing (as applicable) given pursuant to Section
5.6(a) if:

                    (A) at any time after such approval or conditional approval was granted there shall occur and
be continuing any GE Termination Event; provided that GE shall not be entitled to revoke,
under this clause (A), its approval or conditional approval for the purchase of any Equipment (and
any related IKON Originated Financing Contract, SLG Financing Contract, Program Federal Stream
Financing and Purchased Assets) if (x) the related proposed Originated Financing Contract, IKON
Originated Financing Contract, SLG Financing Contract or Federal Financing Contract (I) is written
on the Standard Form Documentation and (II) has been approved without recourse to, or reliance
upon, any IKON Company or (y) a Credit

24

 

Revocation Cutoff Date with respect to such GE Termination Event shall have occurred at or
prior to such time (it being agreed that nothing contained in this Section 5.6(d)(i)(A)
shall, in any event, be deemed to limit, modify or otherwise restrict any of GE’s remedies under
any of the other provisions of this Agreement in respect of such GE Termination Event), or

                    (B) GE (1) determines that any of the information on which any such approval was based is
inaccurate or false in any material respect, or (2) becomes aware of additional information
(including that there has been a significant change in the Customer’s business or properties or in
the ownership or control of such Customer) which would (in GE’s view), if such information had been
provided to GE prior to GE approving such Application or such purchase of any Equipment subject or
related to such proposed Originated Financing Contract, IKON Originated Financing Contract, SLG
Financing Contract or Program Stream Financing, have resulted in GE’s rejecting (or, in the case of
a conditional approval, further conditioning the approval of) such Application or such Originated
Financing Contract, IKON Originated Financing Contract, SLG Financing Contract or Program Stream
Financing, or (3) determines that there has been a material decline in the Customer’s business,
properties or financial condition or change in control of such Customer.

               (ii) In addition to the foregoing, GE may, at any time prior to the Transfer Date relating to
the Equipment subject or related to a proposed Originated Financing Contract, IKON Originated
Financing Contract, SLG Financing Contract or Program Stream Financing (as applicable), upon notice
to IKON, revoke its approval or conditional approval of such proposed Originated Financing
Contract, IKON Originated Financing Contract, SLG Financing Contract or Program Stream Financing
given pursuant to Section 5.6(a) if:

                    (A) the related Customer shall notify any IKON Company or GE of such Customer’s intent to
cancel all or any part of such proposed Originated Financing Contract, IKON Originated Financing
Contract, SLG Financing Contract or Program Stream Financing Agreement (or such Program Stream
Financing thereunder), or to refuse to accept any Equipment to be subject or related to such
proposed Originated Financing Contract, IKON Originated Financing Contract, SLG Financing Contract
or Program Stream Financing Agreement (or such Program Stream Financing thereunder) (as
applicable), or

                    (B) GE reasonably determines, at any time, that (1) any of the representations and warranties
of IKON contained in Section 8.2 will not, with respect to such proposed Originated
Financing Contract, IKON Originated Financing Contract, SLG Financing Contract, Program FM Stream
Financing or Program EM Stream Financing (or the Equipment subject thereto or Purchased Assets in
respect thereof), be true and correct on the proposed Transfer Date of the Equipment subject or
related thereto, or (2) any of the representations and warranties of IKON contained in the Federal
Assignment Agreement will not, with respect to such proposed Program Federal Stream Financing (or
the Equipment subject thereto or Purchased Assets in respect thereof), be true and correct on the
proposed Transfer Date of the Equipment related to such proposed Program Federal Stream Financing.

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          5.7. Purchase and Sale of Equipment.

          (a) (i) (A) On the Transfer Date with respect to Equipment (and any related IKON Originated
Financing Contract, SLG Financing Contract, Program FM Stream Financing, Program EM Stream
Financing and Purchased Assets), other than any Equipment related to a Program Federal Stream
Financing, IKON shall automatically be deemed to have sold, transferred, conveyed and assigned to
GECITS, and GECITS shall automatically be deemed to have purchased, all of such Equipment (and any
related IKON Originated Financing Contract, SLG Financing Contract, Program FM Stream Financing,
Program EM Stream Financing and Purchased Assets with respect thereto), and with no further action,
documentation or agreement required by any party to give effect thereto, in each case free and
clear of all Liens (including Liens arising under the federal, state or local tax laws or the
Employee Retirement Security Act of 1974, as amended), except for Liens for property taxes that are
not yet due and payable. Such assignment shall include all of IKON’s rights to such Equipment (and
IKON Originated Financing Contract, SLG Financing Contract, Program FM Stream Financing, Program EM
Stream Financing and Purchased Assets with respect thereto, but shall not include any Equipment
Service Obligations and any obligation under any warranties (whether or not set forth in the
applicable Program Financing Contract or related Program Stream Financing Agreement).
Notwithstanding anything to the contrary in this Section 5.7(a)(i)(A), GECITS acknowledges
and agrees that with respect to any IKON Originated Financing Contract or SLG Financing Contract
that is sold, transferred, conveyed and assigned to GECITS hereunder, GECITS shall assume each
obligation of IKON, as lessor, under such IKON Originated Financing Contract or SLG Financing
Contract (as applicable) other than any Equipment Service Obligations.

                         (1) Each such assignment by IKON shall be deemed to be an absolute and present sale and
assignment, not an assignment for the purposes of collateral security and shall in no way be
construed as an extension of credit by GE or GECITS to IKON. IKON shall not and shall cause its
Affiliates not to, take any action or do or cause anything to be done, that shall limit, restrict
or impair the passage of any manufacturer’s or other warranties in respect of the Equipment subject
to Originated Financing Contracts, IKON Originated Financing Contracts, SLG Financing Contracts,
Program EM Stream Financings or Program FM Stream Financings to GECITS and the applicable Customer.
Each IKON Company shall (to the extent it is entitled to do so) assign to GECITS and the Customer
all such warranties without recourse to IKON.

                         (2) If IKON or another IKON Company desires to arrange for or source any proposed Originated
Financing Contract, IKON Originated Financing Contract, SLG Financing Contract, Program EM Stream
Financing or Program FM Stream Financing in respect of which part of the Equipment to be subject
thereto consists of Non-Core Equipment, then prior to the proposed Transfer Date with respect to
such Equipment (and any related proposed IKON Originated Financing Contract, SLG Financing
Contract, Program FM Stream Financing, Program EM Stream Financing and Purchased Assets (as
applicable)), IKON shall deliver to GE an invoice with respect to the purchase of such Non-Core
Equipment together with a third party payee letter in respect thereof pursuant to which (I) IKON
shall assign to GE all of its rights to purchase such Non-Core Equipment and (II) GECITS shall be
directed to remit

26

 

the purchase price with respect to such Non-Core Equipment directly to the third party
supplier identified in such letter and invoice. IKON shall and shall cause each other applicable
IKON Company to use commercially reasonable efforts to assist GE in obtaining from any such third
party supplier, in connection with any proposed Originated Financing Contract, IKON Originated
Financing Contract, SLG Financing Contract, Program EM Stream Financing or Program FM Stream
Financing, any required consent to an assignment by the Customer to GE of such Customer’s purchase
order for such Non-Core Equipment.

                    (B) On the Transfer Date with respect to Equipment related to a Program Federal Stream
Financing, IKON shall sell, transfer, convey and assign to GECITS, and GECITS shall purchase from
IKON, such Equipment, the Program Federal Stream Financing with respect thereto and the Purchased
Assets in respect thereof, pursuant to the Federal Assignment Agreement, if prior to the Federal
Program Integration Date.

               (ii) Notwithstanding anything to the contrary in Section 5.7(a)(i), (A) GECITS
acknowledges and agrees that with respect to any Equipment subject or related to a Program Stream
Financing Agreement that is sold, transferred, conveyed and assigned to GECITS, such Equipment is
encumbered by and subject to the rights and interests of the Obligor under the applicable Program
Stream Financing Agreement and (B) GECITS agrees that with respect to any Equipment subject or
related to a Program Stream Financing Agreement that is sold, transferred, conveyed and assigned to
GECITS, GECITS shall not, nor shall it permit any Person acting on behalf of or through GECITS to,
take any action which, at the time and under the circumstances so taken, is inconsistent with the
rights of, or any actions that may be taken by, the lessor under the related Program Stream
Financing Agreement.

               (iii) In addition, on the Transfer Date with respect to any Equipment (and any related IKON
Originated Financing Contract, SLG Financing Contract, Program Stream Financing and Purchased
Assets (as applicable)), GECITS shall (except as otherwise provided above or in the Federal
Assignment Agreement) become obligated to, and within one (1) Business Day after the delivery of
the Dealer Compensation Report in respect of the transfer of such Equipment shall, pay the Purchase
Price of all such Equipment (and any related IKON Originated Financing Contract, SLG Financing
Contract, Program Stream Financing and Purchased Assets); provided that, GE shall have
received, (A) not later than one (1) Business Day prior to the Transfer Date applicable to such
Equipment, (1) the complete Document Package with respect to such Originated Financing Contract,
IKON Originated Financing Contract, SLG Financing Contract or Program Stream Financing, (2) an
original Originated Financing Contract, IKON Originated Financing Contract, SLG Financing Contract
or Federal Financing Contract (or faxed copy which shall be followed by delivery to GE of an
original thereof prior to the applicable Fax Funding Delivery Date), duly executed by the
applicable Obligor or a faxed copy of the applicable Program Facilities Management Agreement or
Program Equipment Management Agreement (together with any lease addendum or amendment relating to
the Equipment transferred to GECITS on such Transfer Date), duly executed by the applicable Obligor
and (B) a Confirmation of Acceptance with respect to such Equipment.

               (iv) IKON has implemented (and shall maintain at all times during the Term) company-wide
policies and procedures that require the IKON Companies’ sales, legal and

27

 

similar personnel to (x) obtain from the applicable Customers, as promptly as practicable,
original execution copies of each Originated Financing Contract, IKON Originated Financing
Contract, SLG Financing Contract and Federal Financing Contract, to the extent the Equipment
subject thereto was shipped by IKON upon IKON’s receipt of a facsimile copy (and not an original
execution copy) thereof and (y) deliver to GE original execution copies of each Originated
Financing Contract, IKON Originated Financing Contract, SLG Financing Contract and Federal
Financing Contract (duly executed by the applicable Obligor) which GECITS has funded upon its
receipt of a facsimile copy thereof pursuant to Section 5.7(a)(iii), by the date that is
ten (10) days after the Transfer Date with respect to the Equipment subject or related thereto. If
an IKON Company fails to provide to GE an original executed copy of an Originated Financing
Contract, IKON Originated Financing Contract, SLG Financing Contract or Federal Financing Contract
by the Fax Funding Delivery Date with respect thereto, then IKON shall be required to purchase from
GECITS, within one (1) Business Day after such Fax Funding Delivery Date, such Originated Financing
Contract, IKON Originated Financing Contract, SLG Financing Contract or Federal Financing Contract
(as applicable) and Purchased Assets and Equipment related thereto, on an “AS-IS, WHERE-IS” basis,
without representation, warranty or recourse of any kind, other than Agreed Warranties for a
purchase price equal to the Net Book Value thereof on the date of such purchase.

          (b) IKON agrees to promptly provide GECITS with written evidence of IKON’s sale and assignment
of any Equipment and/or any related IKON Originated Financing Contract, SLG Financing Contract,
Program Stream Financing and Purchased Assets (as applicable) to GECITS together with such
additional documentation as GECITS may reasonably request from time to time in connection therewith
to evidence IKON’s compliance with its obligations under this Agreement or any other IKON Operative
Agreement.

          (c) As designated by GE from time to time in writing, IKON shall sell, assign, and otherwise
transfer and convey (i) any SLG Financing Contract and related Equipment and Purchased Assets
directly to GECITS, any Affiliate of GE or any direct or indirect wholly-owned Subsidiary of GE,
which Person shall be the lessor in respect of such SLG Financing Contract (as assignee of IKON)
and (ii) any Program Stream Financing (and related Equipment and Purchased Assets) in respect of
which the Obligor thereunder is a State and Local Government Entity directly to GECITS, any
Affiliate of GE or any direct or indirect wholly-owned Subsidiary of GE; provided,
however, that GE shall guarantee the full performance and satisfaction of the obligations
of such GE designee in the event of any such sale, assignment, transfer or conveyance pursuant to a
guaranty in substantially the form of the GE Guaranty. All of the representations, warranties,
covenants and other obligations set forth in this Agreement shall inure to the benefit of such
designee(s).

          (d) Unless otherwise required by United States generally accepted accounting principles, IKON
shall treat the conveyance of the Equipment subject or related to any proposed Originated Financing
Contract, IKON Originated Financing Contract, SLG Financing Contract or Program Stream Financing,
and the conveyance of any IKON Originated Financing Contract, SLG Financing Contract, Program
Stream Financing and related Purchased Assets, as a sale thereof on all relevant books, records,
financial statements and other applicable documents.

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          (e) Each of IKON, GECITS and GE acknowledge and agree that GECITS is a buyer in the ordinary
course of IKON’s business of all Equipment (and (i) in the case of any IKON Originated Financing
Contract or SLG Financing Contract in respect thereof, such Financing Contract and related
Purchased Assets or (ii) in the case of any Program Stream Financing related thereto, such Program
Stream Financing and related Purchased Assets) sold, assigned, transferred or otherwise conveyed by
IKON pursuant to this Agreement.

          (f) Each of GE, GECITS and IKON acknowledge and agree that (i) each IKON Originated Financing
Contract, SLG Financing Contract and Program Stream Financing Agreement is an obligation for the
lease or rental of Equipment and (ii) each IKON Originated Financing Contract, SLG Financing
Contract and Program Stream Financing Agreement constitutes “chattel paper” (as defined in the New
York Uniform Commercial Code). The rights to receive payments under each IKON Originated Financing
Contract, SLG Financing Contract and in respect of each Program Stream Financing constitute
“proceeds” of “chattel paper” (each as defined in the New York Uniform Commercial Code). All
Credit Enhancements in respect of the IKON Originated Financing Contracts, SLG Financing Contracts
and Program Stream Financings constitute “supporting obligations” (as defined in the New York
Uniform Commercial Code) and one or more of the following: “letter of credit rights”,
“instruments”, and/or “investment property” (each as defined in the New York Uniform Commercial
Code).

          5.8. Rights Under Leases; Security Interest.

          (a) IKON acknowledges and agrees that, notwithstanding GECITS’ entry into and GE’s
administration of any Purchased Personal Property Tax Receivables, Program Financing Contract or
Program Stream Financing utilizing an Assumed Name (or any other name the use of which IKON may
license to GE and GECITS) and/or GE’s and GECITS’ receipt of payments made payable to it under an
Assumed Name (or any such other IKON-licensed name) in respect of such Purchased Personal Property
Tax Receivables, Program Financing Contract or Program Stream Financing, IKON shall not except as
otherwise expressly set forth in this Agreement (but subject to Section 5.8(c)(ii)), (i)
(A) have any rights or interests in any Purchased Personal Property Tax Receivables, Program
Financing Contract or Program Stream Financing (as applicable), the Equipment subject thereto (if
any) or in any payments made in respect thereof or (B) attempt to collect any payments made in
respect thereof or (unless expressly agreed to by GE in writing) repossess or consent to or accept
the return of any Equipment (other than for maintenance of such Equipment) or (ii) amend, waive or
otherwise modify the terms of any Purchased Personal Property Tax Receivable, Program Financing
Contract or Program Stream Financing in any way whatsoever.

          (b) IKON (or the Customer to the extent agreed to by such Customer) shall bear all risk of
loss to the Equipment until the Transfer Date applicable to such Equipment. All sales of Equipment
to GECITS under the Program shall (i) include the manufacturer’s warranty to the extent that IKON
is permitted to assign such warranty by the manufacturer of the particular Equipment, and (ii) to
the extent that clause (i) above is applicable to the particular Equipment, permit the assignment
by GECITS to Customers of all such warranties and licenses applicable to the particular Equipment.

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          (c) (i) Neither IKON nor any other IKON Company shall be entitled to amend, modify or
terminate any Program Stream Financing Agreement in any manner adverse to GE or GECITS (including
by (A) reducing the amount of any Program Stream Financing Payment thereunder or any other payments
or amounts in respect of such Program Stream Financing that GE or GECITS is entitled to retain, for
its own account, pursuant to Section 5.3(b), (B) extending the time to make payment of any Program
Stream Financing Payment thereunder or any amounts constituting Purchased Assets in respect
thereof, or (C) changing any of the obligations of GE and GECITS thereunder) other than as
expressly contemplated by Section 6.3.

               (ii) Notwithstanding anything to the contrary in this Section 5.8, each of GE and
GECITS hereby (x) grants to IKON the right to negotiate with Obligors in respect of Program
Financing Contracts to modify or eliminate the Equipment Service Obligations thereunder (and to
correspondingly increase, decrease or eliminate the Base Equipment Service Payments thereunder
thereafter to become due in respect thereof), and (y) agrees to promptly execute such amendments or
modifications to Program Financing Contracts as may be necessary to effect the modification or
elimination of the Equipment Service Obligations thereunder, so long as IKON shall comply with each
of the following conditions:

                    (A) IKON shall promptly provide GE and GECITS with each such amendment or other modification,
which amendment or other modification shall contain (1) the lease schedule number of the applicable
Program Financing Contract and (2) the date such amendment or other modification is proposed to
become effective; and

                    (B) In connection with any such amendment or other modification to a Program Financing
Contract which has the effect of reducing the Minimum Periodic Payment thereunder, (1) the amount
of such reduction shall, in no event, exceed the Base Equipment Service Payment due under such
Program Financing Contract (calculated immediately prior to giving effect to such amendment or
other modification) and (2) the Lease Payment or any other payments or amounts under such Program
Financing Contract that GE or GECITS is entitled to retain, for its own account, pursuant to
Section 5.3(a) shall, in no event, be reduced or otherwise affected by any such amendment
or other modification.

               (iii) Notwithstanding anything to the contrary set forth in this Agreement, in connection with
any fixed-term extension or renewal of any Program Financing Contract, GECITS shall be entitled to
reduce the amount of the Lease Payment thereunder (and, except to the extent in conjunction with a
reallocation as provided under Section 5.1(c)(y)) without giving effect to any
modifications to the other components thereof, the Minimum Periodic Payment thereunder);
provided that (x) the amount of such reduction shall, in no event, exceed the Lease Payment
due under such Program Financing Contract (calculated immediately prior to giving effect to such
extension or renewal) and (y) the Base Equipment Service Payment, the CPC Charges, the Service
Sales Tax Payment or any other payments or amounts under such Program Financing Contract that IKON
is entitled to pursuant to Section 5.3(a) shall, in no event, be reduced or otherwise
affected by any such reduction.

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          (d) To secure the performance of all of its obligations under this Agreement and the accuracy
of IKON’s representations and warranties hereunder, IKON hereby grants to GECITS as of each
Transfer Date a continuing first priority Lien in (as applicable) the Purchased Personal Property
Tax Receivables, the Program Financing Contracts, the Program Stream Financings and, in each case,
the Equipment (if any) subject or related thereto, the Purchased Assets (if any) in respect thereof
and the proceeds thereof to be transferred to GECITS on such Transfer Date. For purposes of such
grant, this Agreement shall constitute a security agreement under applicable Law. In connection
with the Liens granted hereby, IKON hereby authorizes GE and GECITS to execute and file, on or
before the date hereof, one or more financing statements (naming IKON, as debtor and GECITS, as
secured party) and similarly all continuation statements, in a manner and in such places as may be
required by applicable Law to fully preserve, maintain and protect the Lien of GECITS in the
Purchased Personal Property Tax Receivables, the Program Financing Contracts, the Program Stream
Financings, the Equipment subject or related thereto, the Purchased Assets in respect thereof and
the proceeds thereof. The Liens granted to GECITS in any Purchased Personal Property Tax
Receivable or in any particular item of Equipment (and any related IKON Originating Financing
Contract, SLG Financing Contract, Program Stream Financing, Purchased Assets or proceeds thereof)
shall automatically terminate without any further action of any party hereto upon the repurchase of
such Purchased Personal Property Tax Receivable or item of Equipment (and any related IKON
Originated Financing Contract, SLG Financing Contract, Program Stream Financing or Purchased
Assets) by IKON from GECITS in accordance with this Agreement (it being agreed that any such
automatic release of any Lien on any item of Equipment (and any related IKON Originated Financing
Contract, SLG Financing Contract, Program Stream Financing or Purchased Assets) shall in no way
affect any other Liens granted to GECITS in respect of any other Purchased Personal Property Tax
Receivable or item of Equipment (or any IKON Originated Financing Contract, SLG Financing Contract,
Program Stream Financing or Purchased Assets related thereto or proceeds thereof). GECITS shall
execute and file such UCC-3 termination statements as IKON may, from time to time, reasonably
request to evidence the release of any Liens as contemplated by the immediately preceding sentence;
provided, that in the event that IKON requests that GE file UCC-3 termination statement
more frequently that once per Program Year, IKON shall be responsible for any costs incurred by GE
(including reasonable out-of-pocket costs and expenses) in connection with such additional filings.

          5.9. Syndication. (a) Subject to the terms of the applicable Program Financing
Contract, or Program Stream Financing Agreement, GECITS shall be permitted to securitize, syndicate
or otherwise transfer any or all of its rights under any Program Financing Contract or Program
Stream Financing that it has funded or purchased (and under any related representations,
warranties, covenants or indemnifications); provided, however, that (i) if any such
securitization, syndication or other transfer occurs, GE shall (unless GECITS determines that doing
so shall materially impair its ability to so transfer such Program Financing Contract or Program
Stream Financing on acceptable terms) continue to be responsible for the billing and collecting of
such Program Financing Contract or Program Stream Financing, in the manner contemplated by this
Agreement, to the extent that GE is permitted to do so under the Trademark License Agreement and
applicable Law, and (ii) GECITS shall not securitize, syndicate or otherwise assign any of its
rights under any Program Financing Contract or Program Stream

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Financing to any Person set forth on Annex E. Any securitization, syndication or
transfer otherwise permitted under this Section 5.9(a) shall be prohibited hereunder if such
securitization, syndication or transfer would, in any material respect, have an adverse impact on
any of IKON’s rights under Sections 3.1, 5.2, 5.3, 6.1(a)(ii),
6.1(b), 6.1(d), 6.1(e), 6.3, 10.2 or Schedule 1
with respect to the Program Stream Financings or Program Financing Contracts covered thereby.

          (b) During the Term, IKON shall have the right to originate and/or syndicate (i) any Excluded
Transaction, (ii) any proposed Originated Financing Contract, IKON Originated Financing Contract,
SLG Financing Contract or Program Stream Financing that has been rejected for funding by GE and
(iii) any proposed Originated Financing Contract, IKON Originated Financing Contract, SLG Financing
Contract or Program Stream Financing conditionally approved by GE, presented by IKON to the
Customer and subsequently rejected by such Customer.

          5.10. Financings with Recourse or Other Support. With respect to any proposed
Originated Financing Contract, IKON Originated Financing Contract, SLG Financing Contract or
Program Stream Financing, IKON may, at its option, offer to provide (or GE may request that IKON
provide) price, rate or yield assistance or residual pricing support to GECITS or discounts, free
services or rebates in connection with such Originated Financing Contract, IKON Originated
Financing Contract, SLG Financing Contract, Program Stream Financing or related Equipment. In
addition, from time to time IKON may offer to provide (or GE may request that IKON provide) GECITS
with recourse for losses suffered by GECITS in connection with a proposed Originated Financing
Contract, IKON Originated Financing Contract, SLG Financing Contract or Program Stream Financing.
If GECITS determines in its sole discretion to enter into any such proposed Originated Financing
Contract or to purchase from IKON any IKON Originated Financing Contract, SLG Financing Contract or
Program Stream Financing with such offered or requested recourse to IKON, IKON and GECITS shall, on
each such occasion, agree as to the extent of IKON’s liability and IKON and GECITS shall execute
mutually acceptable agreements and indemnities with respect thereto. If IKON offers to provide to
GECITS any such recourse in respect of a proposed Originated Financing Contract, IKON Originated
Financing Contract, SLG Financing Contract or Program Stream Financing, GECITS shall promptly
notify IKON as to whether, in its sole discretion, GECITS shall approve such Originated Financing
Contract, IKON Originated Financing Contract, SLG Financing Contract or Program Stream Financing
(as applicable).

          5.11. Transferred Servicing Agreements. During the Term, upon the request of IKON, GE
shall enter into one or more new Transferred Servicing Agreements in connection with the sale or
syndication (to new or existing syndications partners of IKON) of Serviced Assets or Equipment to
become the subject of one or more lease and/or rental agreements, so long as at the time IKON
requests that GE enter into such agreement, GE has sufficient systems, personnel and all
capabilities to perform the obligations under such Transferred Servicing Agreement (including to
perform the application and remittance of payments required of GE in the manner contemplated
thereby). Any servicing fees in respect of any Transferred Servicing Agreement entered into by GE
pursuant to this Section 5.11 shall be paid by IKON under and pursuant to the terms of the
Servicing Agreement.

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          5.12. Execution and Assignment of Certain Program Financing Contracts. In the event
that, with respect to any proposed Originated Financing Contract that has been rejected for funding
by GE pursuant to Section 5.5 or 5.6 hereof, IKON requests, in writing (including
any writing in an agreed electronic format), that GECITS both (a) execute such proposed Originated
Financing Contract and (b) transfer, assign and convey such proposed Originated Financing Contract
to IKON immediately after such execution, then unless GE determines, in its reasonable discretion,
that the execution and transfer of such proposed Originated Financing Contract would violate or
result in the violation of any applicable Law, then GECITS shall execute such proposed Originated
Financing Contract and promptly thereafter (A) IKON shall acquire from GECITS and GECITS shall
transfer, assign and convey to IKON all of GECITS’ right, title and interest in and to such
proposed Originated Financing Contract on an “AS-IS, WHERE-IS” basis, without representation,
warranty or recourse of any kind and (B) IKON shall assume and GECITS shall transfer and delegate
to IKON all of GECITS’ duties and obligations under such Originated Financing Contract. Each of
GE, GECITS and IKON acknowledge and agree that, except to the extent of any fees required to be
paid pursuant to Section 10.3, there shall be no fees (including any Base Origination Fees,
Incremental Origination Fees or Volume Origination Fees) due or payable in respect of any proposed
Originated Financing Contract executed by GECITS pursuant to this Section 5.12.

          5.13. Non-Standard Financing Contracts. (a) IKON has provided to GE for GE’s review,
true and complete copies of the Financing Contracts more particularly described on Exhibit
K (the “Representative Contracts”), none of which is documented in the form of the
Standard Form Documentation. GE acknowledges and agrees that if IKON shall present to GE for
funding under the Program any proposed SLG Financing Contract containing terms and conditions
(including any terms and conditions implied as a matter of Law or specified in the applicable RFP)
that are, taken as a whole and as determined by GE in its sole discretion, as or more favorable to
the lessor than the terms and conditions of any of the Representative Contracts (each, a
“Comparable Contract”), GE would not reject such Comparable Contract based solely on its
failure to be in the form of the Standard Form Documentation; provided, however,
that the foregoing shall be subject to the right of GE to (i) require that IKON provide the
additional representations, warranties, covenants and/or indemnities set forth in Exhibit
M, if and to the extent the applicable Comparable Contract contains terms and conditions
substantially equivalent to those for which the additional representations, warranties, covenants
and indemnities set forth in Exhibit M are intended, and (ii) require that IKON provide
additional representations, warranties, covenants and/or indemnities if and to the extent the
applicable Comparable Contract contains terms and conditions which (A) are not otherwise contained
in the Representative Contracts and (B) (1) include covenants or obligations of a type not
otherwise included in the definition “Equipment Service Obligations” and/or (2) add cancellation,
termination, default, buy-out or purchase rights or options thereunder or representations and
warranties of the lessor thereunder, in each case, not otherwise permitted under the Standard Form
Documentation.

          (b) GE will use commercially reasonable efforts to approve, solely from a documentation
perspective, proposed Financing Contracts that are not proposed SLG Financing Contracts but are
otherwise Comparable Contracts, subject to the provisions of this Section 5.13 and the
other provisions of this Agreement.

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          (c) IKON acknowledges and agrees that (i) GE applies an integrated approach to funding
decisions encompassing credit, pricing, documentation, equipment, legal requirements (including
changes in applicable law) and other risk factors, (ii) the provisions of this Section 5.13
shall not be deemed to limit in any manner (A) GE’s sole discretion under Section 4.2 to
make credit decisions in respect of proposed Program Financing Contracts and Program Stream
Financings, or (B) GE’s rights under Section 5.4 to review and negotiate proposed Financing
Contracts, and (iii) any credit line established by GE for a Customer (unless otherwise specified
in writing by GE) shall only be a credit line for transactions documented on Standard Form
Documentation.

          (d) Nothing contained in this Section 5.13 shall be deemed to (i) obligate GE to
approve or fund any Operating Rental Contract, or (ii) relieve IKON of its obligation under
Section 5.4(b)(i) to seek to utilize the Standard Form Documentation.

          (e) IKON shall indemnify and hold harmless each GE Party, its Affiliates and each of their
respective employees, officers, directors and agents, from and against any and all Damages suffered
or incurred by any of them to the extent resulting from, arising out of or in connection with any
of the following (solely to the extent relating to Program Financing Contracts or Program Stream
Financings funded under the Program from and after the Original Effective Date):

               (i) IKON’s failure to (A) pay any enforcement costs incurred by GECITS to enforce a Financing
Contract against the Customer, if, with respect to Financing Contracts written on Standard Form
Documentation, the right to collect such costs under the Financing Contract was waived at the
request of IKON or, with respect to Financing Contracts not written on Standard Form Documentation,
was waived or affirmatively assumed by IKON or its assignee, whether as lessor, lender or otherwise
in such Financing Contract, all to the extent that GECITS is the prevailing party in such
enforcement action, or (B) pay any losses incurred by GECITS to the extent caused by and relating
to any risk of loss associated with the applicable Equipment if, with respect to Financing
Contracts written on Standard Form Documentation, the Customer’s obligation to assume risk of loss
was waived at the request of, or approved by, IKON, or, with respect to Financing Contracts not
written on Standard Form Documentation, the obligation was waived or affirmatively assumed by IKON
or its assignee, whether as lessor, lender or otherwise in such Financing Contract;

               (ii) the exercise by any of the following Customers of the right to terminate all or any
portion of the specific Financing Contract described on Schedule 5.13(e), as the same may be
amended from time to time by the parties, for convenience under and in accordance with the specific
convenience, cancellation provisions of such Financing Contracts, as evidenced by the Customer’s
written (including e-mail) notice that it is exercising its right to terminate all or any portion
of such Financing Contract pursuant to such provision; provided, however, that IKON’s liability
under this Section 5.13(e)(ii) will be limited to the Net Book Value of the applicable Program
Financing Contract or Program Stream Financing as of the effective date of such exercise; and

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               (iii) the written exercise by a customer of its right to terminate or delay any or all of its
obligations under a Financing Contract as a consequence of the occurrence of an event of force
majeure that permits the Customer to terminate the Financing Contract or delay or reduce any
payments due under that Financing Contract, if and to the extent such right is expressly permitted
under the Financing Contract; provided, however, that IKON’s liability under this Section
5.13(e)(iii) will be limited to the Net Book Value of the Program Financing Contract or Program
Stream Financing as of the effective date of such exercise.

          5.14. Program Reliance and Recourse. GE shall give IKON prompt written notice if GE
determines that availability under any reliance and/or recourse limits established by GE in respect
of the Program shall be or shall become insufficient to support GE’s estimate of six month’s worth
of incremental reliance and/or recourse associated with proposed Program Financing Contracts and
Program Stream Financings expected to be submitted by IKON to GE for funding hereunder (assuming
historical levels of portfolio run-off and new originations). In such event, IKON may request that
GE accept cash collateral, a letter of credit or other cash equivalent on terms and conditions
satisfactory to GE and in an amount mutually agreed by GE and IKON as a reasonable estimate of
expected incremental reliance and/or recourse associated with proposed Program Financing Contracts
and Program Stream Financings expected to be submitted by IKON to GE for funding hereunder during
the following six month period (in which case such recourse and/or reliance limits shall be
increased by the amount of such cash collateral, drawable amount under such letter of credit or
value of such other cash equivalents). IKON acknowledges and agrees that the establishment and/or
adjustment of any IKON reliance and/or recourse limits shall be in GE’s final authority (and may be
made without notice to IKON, except to the extent any such adjustment shall result in a notice
obligation under the first sentence of this Section 5.14) and that this Section
5.14 shall not be deemed to limit in any manner GE’s sole discretion under Section 4.2
to make credit decisions in respect of proposed Program Financing Contracts and proposed Program
Stream Financings. Either of GE or IKON may request that the agenda of any Executive Committee
meeting include a review of existing reliance and/or recourse limits, current availability
thereunder and future reliance and/or recourse funding needs and strategies.

ARTICLE 6.

ADMINISTRATION

          6.1. Administration of GE Portfolio.

          (a) Customer Inquiries: Asserted Service Failures. (i) GE shall conduct its
communications with Customers under Program Financing Contracts and Program Stream Financings in a
courteous, prompt and efficient manner and shall use its commercially reasonable efforts to answer
Customers’ and IKON’s inquiries relating to Program Financing Contracts and Program Stream
Financings on Business Days via an “800” or other toll-free telephone line from 8:00 AM to 8:00 PM
(New York City time). Customer inquiries received when no personnel are available shall be
recorded electronically and responded to promptly.

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               (ii) GE shall notify IKON (including through the dispute resolution tool used by IOS Capital
immediately prior to the Pre-Closing Merger), within three (3) Business Days after GE’s receipt of
notice of any assertion by any Obligor under a Program Financing Contract or Program Stream
Financing that an IKON Company or any of its respective agents or contractors has failed to comply
with any of its Equipment Service Obligations or other obligations to such Obligor. Any such
notice by GE shall (A) to the extent delivered through the dispute resolution tool referenced
above, be in accordance with the past practices of IOS Capital immediately before giving effect to
the Pre-Closing Merger, and (B) in all other cases, include a copy of any related written
assertion, the identity of the Customer and, to the extent GE has knowledge thereof, the nature of
the Customer’s assertions as to the failure of the applicable IKON Company or any of its respective
agents or contractors to comply with any such obligations (each, an “Asserted Service
Failure”).

          (b) Collections; Litigation; Recoveries. (i) GE shall have the full right and
authority to bill and collect the Program Financing Contracts and Program Stream Financings and
pursue any and all available remedies against Obligors in connection with any defaults thereunder
(including commencing litigation and foreclosing against such Obligor (or requesting that IKON
repossess Equipment and other property subject to such Program Financing Contracts or Program
Stream Financings pursuant to Section 6.2(a))). Subject to Section 6.1(b)(iii), GE
or GECITS shall notify the IKON Relationship Manager not less than ten (10) Business Days prior to
commencing any litigation against an Obligor under a Program Financing Contract, Program Facilities
Management Agreement or Program Equipment Management Agreement in respect of any breach by such
Obligor thereunder; provided, that in no event shall GE or GECITS be required to deliver
any such notice in connection with any litigation commenced following a Bankruptcy Event (or event
which with the passage of time would constitute a Bankruptcy Event) with respect to such Obligor.
Notwithstanding anything to the contrary set forth herein, in no event shall GE or GECITS be
required or obligated to commence litigation or collection activities against any Obligor under any
Program Financing Contract or with respect to any Program Stream Financing.

               (ii) Cure by IKON of Certain Payment Defaults. Within ten (10) Business Days after
IKON shall have been notified by GE of its intention to commence litigation against an Obligor in
respect of such Obligor’s breach under a Program Financing Contract, Program Facilities Management
Agreement or Program Equipment Management Agreement, IKON shall be entitled to purchase from GECITS
all of GECITS’ right, title and interest in such Program Financing Contract or the related Program
Stream Financing (as applicable), in each case, together with the Equipment related thereto and any
Purchased Assets in respect thereof, on an “AS-IS, WHERE-IS” basis, without representation,
warranty or recourse of any kind, other than Agreed Warranties, by paying to GECITS an amount equal
to (1) with respect to any Program Stream Financing, the Net Book Value thereof as of the date of
such purchase, or (2) with respect to any Program Financing Contract, the greater of (x) the Net
Book Value of such Program Financing Contract as of the date of such purchase and (y) the
Securitization Purchase Price in respect thereof (if any) as of the date of such purchase.

               (iii) IKON Compliance Deficiencies. From time to time after the date hereof, GE may
provide IKON with a listing, in writing (which listing may be in the form of a

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delinquency report or on-line queue), of any delinquent Program Financing Contracts and
Program Stream Financing Agreements where the related Obligor has asserted an Asserted Service
Failure as a reason for its nonpayment thereunder. As promptly as practicable (and in any event
within the applicable Determination Period) IKON shall (A) evaluate all such Obligor’s assertions,
(B) seek to resolve with each such Obligor all issues relating to such Obligor’s assertions and (C)
based on the foregoing, notify GE in writing as to whether the applicable IKON Company is in
compliance with, or has cured any non-compliance in respect of, its Equipment Service Obligations
or other obligations with respect to all of the Equipment subject to such Program Financing
Contract or Program Stream Financing Agreement (as applicable). If IKON does not notify GE in
writing, prior to the end of the Determination Period, that such IKON Company is in compliance
with, or has cured any non-compliance in respect of, its Equipment Service Obligations or other
obligations with respect to all of the Equipment subject to such Program Financing Contract or
Program Stream Financing Agreement (as applicable), then IKON shall be required, within one (1)
Business Day after the end of the applicable Determination Period, to purchase from GECITS (on an
“AS-IS, WHERE-IS” basis, without representation, warranty or recourse of any kind, other than
Agreed Warranties) all of GECITS’ right, title and interest in the related Program Financing
Contract or Program Stream Financing (as applicable) (together with the Equipment related thereto
and any Purchased Assets in respect thereof) for a purchase price equal to (1) with respect to any
Program Stream Financing, the Net Book Value thereof as of the date of such purchase, or (2) with
respect to any Program Financing Contract, the greater of (x) the Net Book Value of such Program
Financing Contract as of the date of such purchase and (y) the Securitization Purchase Price in
respect thereof (if any) as of the date of such purchase. Any notice or listing provided to IKON
by IOS Capital prior to the date hereof (including via the dispute resolution tool referred to in
Section 6.l(a)(ii)) shall be deemed, solely for purposes of the notice requirements and
notice periods contained in this Section 6.1(b)(iii), to have been delivered by GE on the
date so provided by IOS Capital.

               (iv) If (A) IKON shall not be required to purchase, pursuant to Section 6.1(b)(iii),
any Program Financing Contract or Program Stream Financing referred to in the first sentence
thereof, (B) (1) there shall be a final determination (which shall either be or become
non-appealable) by a Governmental Entity that the Obligor is not obligated to make all of the
payments under such Program Financing Contract or all Program Stream Financing Payments in respect
of such Program Stream Financing (or that such Obligor is only obligated to make a portion of such
payments) as a consequence of an IKON Company’s (or any of their respective agents’ or
contractors’) failure to comply with any of their respective Equipment Service Obligations or other
obligations of an IKON Company to the Obligor or (2) with respect to any Program Financing Contract
or Program Stream Financing Agreement that is a Performance Cancellation Contract, the Obligor
thereunder shall have (x) given IKON notice of a breach of IKON’s Equipment Service Obligations
thereunder in accordance with the terms of such Program Financing Contract or Program Stream
Financing Agreement (as applicable) and (y) notified IKON following any applicable cure period in
respect thereof that it is electing to exercise its right to terminate such Program Financing
Contract or Program Stream Financing Agreement (as applicable) pursuant to the terms thereof as a
result of such uncured breach, and (C) IKON shall not have previously purchased such Program
Financing Contract or the Program

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Stream Financing related to such Program Stream Financing Agreement pursuant to Section
6.1(b)(iii), then GE shall promptly thereafter notify IKON of such determination and IKON shall
thereupon be obligated, promptly upon GE’s written demand therefor, (1) to pay GE any and all
damages, costs or other amounts required by a Governmental Entity in any such proceedings or
related proceedings to be paid by GE or any of its Affiliates, or any of their respective
directors, officers, employees, representatives or agents, to the extent arising out of an IKON
Company’s (or any of their respective agents’ or contractors’) failure to comply with any of their
respective obligations to the Obligor, and (2) to purchase (on an “AS-IS, WHERE-IS” basis, without
representation, warranty or recourse of any kind, other than Agreed Warranties) from GECITS all of
GECITS’ right, title and interest in the related Program Financing Contract or Program Stream
Financing (as applicable) (together with the Equipment related thereto and any Purchased Assets in
respect thereof) for a purchase price equal to (I) with respect to any Program Stream Financing,
the Net Book Value thereof as of the date of such purchase, or (II) with respect to any Program
Financing Contract, the greater of (x) the Net Book Value of such Program Financing Contract as of
the date of such purchase and (y) the Securitization Purchase Price in respect thereof (if any) as
of the date of such purchase.

               (v) The remedies available under this Section 6.1(b) with respect to any actual or
alleged failure by an IKON Company (or any of their respective agents and contractors) to comply
with any of their respective Equipment Service Obligations, or other obligations of an IKON
Company, to an Obligor under a Program Financing Contract or with respect to any Program Stream
Financing (an “IKON Servicing Breach”) shall apply to the exclusion of any indemnification
remedy under the Asset Purchase Agreement or the 2006 Purchase Agreement for Damages arising out of
the failure of such Obligor to make one or more payments under any Purchased Financing Contract or
Acquired Financing Contract or in respect of any Program FM Stream Financing purchased by GECITS
under the Asset Purchase Agreement (as applicable) as a consequence of an actual (or asserted) IKON
Servicing Breach (it being agreed that nothing contained in this Section 6.1(b)(v) shall in
any way limit or impair GE’s remedies under the Asset Purchase Agreement or 2006 Purchase Agreement
in respect of any Third Party Actions (as defined therein)).

          (c) IKON Power of Attorney. (i) For the purposes of exercising GE’s rights and
carrying out its obligations under the Program, IKON hereby makes and appoints GE (and any
employees or agents of GE designated by GE from time to time) as IKON’s true and lawful
attorney-in-fact for the purpose of endorsing checks with respect to any Program Financing Contract
or Program Stream Financing.

               (ii) With respect to each IKON Originated Financing Contract, for the purposes of exercising
GE’s and GECITS’ rights and carrying out its obligations under this Agreement, IKON hereby further
makes, constitutes and appoints GE (and its and any of VFS Macon’s employees or agents designated
by GE from time to time) as IKON’s true and lawful attorney-in-fact for the purpose of executing,
endorsing, and otherwise signing for and on behalf of IKON any and all documentation with respect
to such IKON Originated Financing Contract contemplated to be executed by IKON.

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               (iii) With respect to each IKON Originated Financing Contract, SLG Financing Contract, Program
Equipment Management Agreement, Program Facilities Management Agreement and Purchased Personal
Property Tax Receivable, for the purposes of exercising GE’s and GECITS’ rights and carrying out
its obligations under this Agreement, IKON hereby further makes, constitutes and appoints GE (and
its and any of VFS Macon’s employees or agents designated by GE from time to time) as IKON’s true
and lawful attorney-in-fact for the purpose of executing, endorsing, and otherwise signing for and
on behalf of IKON: (A) any and all instruments, documents and agreements which may be necessary to
assign, convey and transfer to GECITS good and marketable title to such IKON Originated Financing
Contract, SLG Financing Contract, Purchased Personal Property Tax Receivable, Program EM Stream
Financing or Program FM Stream Financing (as applicable) and the Equipment and Purchased Assets
subject thereto; and (B) all correspondence and notices to Customers as to the assignment of such
IKON Originated Financing Contract, SLG Financing Contract, Purchased Personal Property Tax
Receivable, Program EM Stream Financing or Program FM Stream Financing (as applicable) to GECITS or
its designee pursuant to Section 5.7(c).

          (d) Repurchase of Certain Operating Rentals. (i) If (A) GE receives notice from an
Obligor under any Operating Rental Contract constituting a Purchased Financing Contract that such
Obligor has elected to cancel such Operating Rental Contract in accordance with the terms thereof,
or (B) any payment under any Operating Rental Contract constituting a Purchased Financing Contract
becomes eligible for write-off pursuant to the Write-Off Policy, then GE shall promptly notify IKON
of such cancellation notice or delinquency (which notice (x) in the case of a cancellation notice,
shall set forth the date on which such cancellation shall become effective (after giving effect to
any applicable notice period under such Operating Rental Contract) and (y) in the case of any
delinquency of the type described above, may be in the form of a delinquency report or on-line
queue). Within ten (10) Business Days after the effectiveness of any Obligor cancellation of any
Operating Rental Contract (as described in clause (A) above) or within ten (10) Business Days after
the delivery to IKON of a delinquency notice referred to in clause (B) above with respect to any
Operating Rental Contract (as applicable), IKON shall purchase such Operating Rental Contract from
GECITS and GECITS shall sell to IKON such Operating Rental Contract (and any Equipment subject
thereto and any Purchased Assets in respect thereof) on an “AS-IS, WHERE-IS” basis without
representation or warranty (other than Agreed Warranties) for a purchase price equal to the Net
Book Value thereof at the time of such purchase.

               (ii) The remedies available under this Section 6.1(d) shall apply to the exclusion of
any indemnification remedy under the Asset Purchase Agreement or the 2006 Purchase Agreement for
Damages arising out of the failure of an Obligor under an Operating Rental Contract to make one or
more payments under such Operating Rental Contract (it being agreed that nothing contained in this
Section 6.1(d)(ii) shall in any way limit or impair GE’s remedies under the Asset Purchase
Agreement or the 2006 Purchase Agreement in respect of any Third Party Actions (as defined
therein)).

          (e) Settlement and Litigation Proceeds. Unless the terms of any applicable
Securitization Documents otherwise provide (in which case the terms of such Securitization
Documents shall govern), GE shall be entitled to settle or compromise any claims and

39

 

obligations under any Program Financing Contract in its sole discretion. The net proceeds of
any such settlement or compromise with respect to any Program Financing Contract, and the net
proceeds of any litigation to collect amounts under any Program Financing Contract (which shall in
each case exclude the return of the applicable Equipment), in each case, to the extent received
prior to the write-off of amounts under such Program Financing Contract (i.e., to the extent
received prior to the time such Program Financing Contract becomes a Written-Off Financing
Contract, in which case Section 1 of Schedule 1 shall apply) shall, unless the
terms of any applicable Securitization Documents otherwise require (in which case the terms of such
Securitization Document shall govern), be allocated pro rata among (i) all Lease Payments
thereunder not yet due, (ii) the Service Profit Element thereunder, (iii) the applicable Residual
(but only to the extent the related Equipment shall not have been returned to GE or GECITS), (iv)
the unamortized origination fees thereunder (other than the Volume Origination Fee) and (v) all
other amounts then billed and unpaid under such Financing Contract. Notwithstanding the foregoing,
amounts received in connection with any early termination of a Program Financing Contract in
accordance with Section 6.3 shall not be allocated pursuant to the preceding sentence.

          (f) Buy Back Obligation. If a Customer refuses to fulfill any of its obligations
under a Program Financing Contract or in respect of a Purchased Personal Property Tax Receivable as
a consequence of the lack of consent of that Customer to the assignment of all or any portion of
that Financing Contract or Purchased Personal Property Tax Receivable from IKON to GECITS, if and
to the extent that such consent is expressly required under such Financing Contract, GECITS shall
notify IKON of such refusal and IKON will have 60 days to resolve the Customer’s assignment dispute
in a manner reasonably satisfactory to GECITS. If such assignment dispute is not resolved
(including without limitation by obtaining Customer’s written consent to the assignment by IKON to
GECITS) within the required time period to GECITS’ reasonable satisfaction, IKON will, within 5
Business Days repurchase from GECITS, and GECITS will transfer, assign and convey to IKON, all of
GECITS’ right, title and interest in and to the applicable Purchased Personal Property Tax
Receivable or the Program Financing Contract or Program Financing Stream (and the Equipment related
thereto), on an “AS-IS, WHERE-IS” basis without representation, warranty or recourse of any kind,
other than the Agreed Warranties, for an amount equal to (x) the then Net Book Value of such
Program Financing Contract or Program Financing Stream, plus (solely with respect to any
Program Financing Contract that is an Acquired Financing Contract) the unamortized portion of the
Premium (as defined in the 2006 Purchase Agreement) allocable to such Acquired Financing Contract
on and as of the date of repurchase, and/or (y) the Repurchase Price of such Purchased Personal
Property Tax Receivable (as applicable).

          6.2. De-Installation, Repossession and Remarketing Support. (a) Subject to
Section 6.2(b), at the request of GE at any time and from time to time, IKON shall repair,
refurbish, insure and store, and use its reasonable commercial efforts to remarket on a
non-discriminatory basis, such Equipment as may be subject or related to a Program Financing
Contract, Program Stream Financing or Closing Date IKON Retained Financing Contract serviced by GE
as GE may specify. In addition, at the request of GE at any time and from time to time, IKON may
agree to de-install or repossess such Equipment as may be subject or related

40

 

to a Program Financing Contract, Program Stream Financing or Closing Date IKON Retained
Financing Contract serviced by GE as GE may specify; provided that IKON shall not be
obligated to de-install or repossess any such Equipment to the extent that and for so long as GE,
GECITS or IKON, as applicable, does not have the legal right to do so. Unless waived by IKON, the
fee payable by GE to IKON in respect of any de-installation or repossession of Equipment subject or
related to a Program Financing Contract or Program Stream Financing shall be IKON’s cost of the
de-installation or repossession of such Equipment (including reasonable out-of-pocket costs).

          (b) During the Term, GE shall have the right to refurbish and/or remarket any and all
Equipment as may be subject or related to a Program Financing Contract, Program Stream Financing or
Closing Date IKON Retained Financing Contract serviced by GE, in such manner as GE determines, in
its sole discretion. In the event that GE determines to utilize remarketing and refurbishment
services of IKON, GE shall notify IKON of such determination, and IKON shall be entitled to accept
or decline (in IKON’s sole discretion) GE’s request for remarketing and refurbishment services;
provided that IKON shall be deemed to have accepted GE’s request for the remarketing and
refurbishment of such Equipment if such Equipment is set forth on the Wholesale Equipment Price
List. If IKON shall elect to remarket such Equipment:

               (i) Prior to the Systems Facilitation Date, any such remarketing by IKON shall be effected by
means of the purchase by IKON from GECITS of the Equipment (other than Equipment subject to the
Closing Date IKON Retained Financing Contract that has not been purchased by GECITS pursuant to
Section 10.6), on an “AS-IS, WHERE-IS” basis and without representation or warranty of any
kind, other than Agreed Warranties, for an amount equal to the Wholesale Fair Market Value of such
Equipment.

               (ii) From and after the Systems Facilitation Date, any such remarketing and refurbishment
shall be performed as follows:

                    (A) IKON shall recommend the repair and refurbishment of Equipment to such extent and in such
manner as, in IKON’s reasonable judgment, shall maximize the sales or lease proceeds from the
remarketing thereof, and GE shall be entitled to accept or reject any such recommendation by
IKON. Following any acceptance by GE of any repair and/or refurbishment recommendation
by IKON with respect to any Equipment, IKON shall repair and/or refurbish such Equipment at an
aggregate cost, including commission, equal to the sum of (x) 30% of sale proceeds (less
any de-installation or repossession fees payable by GE to IKON in respect of such Equipment)
plus (y) an agreed refurbishment charge.

                    (B) Promptly following the sale of any such item of Equipment, IKON shall remit (or cause to
be remitted) to GECITS the proceeds of such sale, net of the costs described in Section
6.2(b)(ii)(A). On a monthly basis, IKON shall deliver to GECITS an invoice for all
refurbishment services performed pursuant to this Section.

                    (C) The remarketing, repair and refurbishment services described above shall be provided by
IKON (or a third party designated by IKON) on a basis that does not discriminate between GECITS’
Equipment and used Equipment remarketed,

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refurbished and/or re-sold by IKON for its own account, for the account of any other IKON
Company or for the account of any third party.

               (iii) IKON shall use reasonable commercial efforts to cause the Systems Facilitation Date to
occur not later than December 31, 2005 (or as soon thereafter as possible).

          (c) In the event that GE repairs, refurbishes and/or remarkets Equipment subject or related to
any Program Financing Contract, Program Stream Financing or Closing Date IKON Retained Financing
Contracts on its own behalf, GE shall be entitled to a fee in respect thereof equal to the sum of
(x) 30% of any sale proceeds thereof plus (y) an agreed refurbishment charge.

          6.3. Cancel/Upgrades; Mid-Term Buy Outs.

          (a) Cancel/Upgrades. (i) (A) If during the Term, in connection with GECITS’ entering
into an Originated Financing Contract or purchasing an IKON Originated Financing Contract, an SLG
Financing Contract or a Program Stream Financing (each, a “Replacement Financing”) after
the Original Effective Date, IKON desires to cause (I) the termination of an existing Program
Financing Contract or Program Stream Financing (and any Program Stream Financing Agreement related
thereto) with the related Obligor that covers Equipment that is to be replaced by other Equipment
to be leased under or in respect of such Replacement Financing or (II) the extension of the stated
contractual term of any Program Stream Financing Agreement (and, consequently, any Program Stream
Financing related thereto) or Program Financing Contract (other than any extension of the type
referred to in Section 6.5(c)) (the Program Financing Contract or Program Stream Financing
to be so terminated or extended, in each case, being referred to as a “Replaced
Financing”), then IKON shall be entitled to require GECITS to terminate such Replaced Financing
and transfer to IKON all of GECITS’ interest in the Equipment subject thereto and any Purchased
Assets in respect thereof upon (and in consideration of) the payment by IKON to GE of an amount
equal to (1) with respect to any Replaced Financing that is a Program Stream Financing, the Net
Book Value of such Program Stream Financing as of the time of such termination (which, upon IKON’s
written request to GECITS, shall be less any billed but uncollected Late Charges related
thereto in respect of periods from and after the Original Effective Date), or (2) with respect to
any Replaced Financing that is a Program Financing Contract, the greater of (x) the Net Book Value
of such Program Financing Contract (which, upon IKON’s written request to GECITS, shall be
less any billed but uncollected Late Charges in respect of periods from and after the
Original Effective Date) and (y) the Securitization Purchase Price thereof (if any), in each case,
as of the time of such termination.

                    (B) Within fifteen (15) Business Days of the end of each month during each Program Year, GE
shall prepare and deliver to IKON a report setting forth GE’s calculation of the Pre-Mid Term
Upgrade Percentage and the Overall Upgrade Percentage, in each case, for such Program Year,
determined as of the end of the immediately preceding month (such report being referred herein as
the “Program Upgrade Report” for a Program Year). The GE Relationship Manager and the IKON
Relationship Manager shall meet no less frequently

42

 

than quarterly to assess IKON’s interim compliance, during each Program Year, with the
standards for the Pre-Mid Term Upgrade Percentage and the Overall Upgrade Percentage set forth in
Section 6.2(a)(i)(B)(1) and (2) below.

                         (1) If the Pre-Mid Term Upgrade Percentage for any Program Year, as set forth in the Program
Upgrade Report for the last month of any Program Year, exceeds ten percent (10%), then IKON shall
pay to GE, within ten (10) Business Days of its receipt of such Program Upgrade Report, an amount
equal to the Pre-Mid Term Make-Whole Amount for such Program Year.

                         (2) If the Overall Upgrade Percentage for any Program Year, as set forth in the Program
Upgrade Report for the last month of any Program Year, exceeds fifty percent (50%), then IKON shall
pay to GE, within ten (10) Business Days of its receipt of such Program Upgrade Report, an amount
equal to the positive difference between (x) the Overall Upgrade Make-Whole Amount for such Program
Year minus (y) the Pre-Mid Term Make-Whole Amount, if any, required to be paid by IKON to
GE for such Program Year pursuant to clause (1) above.

               (ii) If, after the end of the Term, IKON desires to cause the termination of an existing
Program Financing Contract or Program Stream Financing (and any Program Stream Financing Agreement
related thereto) prior to its stated termination date, then IKON shall be entitled to require
GECITS to terminate such Program Financing Contract or Program Stream Financing and transfer to
IKON all of GECITS’ interest in the Equipment subject thereto and any Purchased Assets in respect
thereof upon (and in consideration of) the payment by IKON to GECITS of an amount equal to (A) with
respect to any Program Stream Financing, the Net Economic Value of such Program Stream Financing as
of the time of such termination, or (B) with respect to any Program Financing Contract, the greater
of (x) the Net Economic Value of such Program Financing Contract and (y) the Securitization
Purchase Price thereof (if any), in each case, as of the time of such termination.

               (iii) IKON further covenants and agrees that:

                    (A) in connection with any request by an Obligor under a Purchased Financing Contract or
Acquired Financing Contract to elect to pursue an upgrade or substitution of the Equipment subject
or related thereto during any period following the original stated contractual term thereof, IKON
shall (to the extent such Obligor has an option to make such an election (whether in writing or
otherwise)) promptly exercise its option pursuant to Section 6.3(a)(i) or
6.3(a)(ii) (as applicable) to require GECITS to terminate such Purchased Financing Contract
or Acquired Financing Contract, and

                    (B) in connection with any request by an Obligor under a Program Financing Contract (other
than any Purchased Financing Contract or Acquired Financing Contract) or in respect of a Program
Federal Stream Financing (to the extent purchased by GECITS pursuant to this Agreement or the
Federal Assignment Agreement) to elect to pursue an upgrade or substitution of the Equipment
subject or related thereto during period following the original stated contractual term thereof,
IKON shall, to the extent such

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Obligor satisfies the applicable contractual conditions thereto, promptly exercise its option,
pursuant to Section 6.3(a)(i) or 6.3(a)(ii) (as applicable), to require GECITS to
terminate such Program Financing Contract or the applicable Federal Financing Contract.

          (b) Sale Reversals. If, during the 60-day period immediately following the Transfer
Date of any Equipment subject or related to a Program Financing Contract or a Program Stream
Financing, IKON desires to cause the termination of such Program Financing Contract or Program
Stream Financing in connection with a “sale reversal,” then IKON shall be entitled to require that
GECITS terminate such Program Financing Contract or Program Stream Financing (as applicable) and
transfer to IKON all of GECITS’ interest in the Equipment subject thereto upon (and in
consideration of) the payment by IKON to GECITS of an amount equal to the sum of (i) the Net Book
Value of such Program Financing Contract or Program Stream Financing (as applicable) as of the time
of termination plus (ii) any Volume Origination Fee paid or payable by GECITS in respect of
such Program Financing Contract or Program Stream Financing.

          (c) Other Terminations. (i) If an Obligor initiates a request for a Program
Financing Contract that is a Bundled Financing Contract (other than a defaulted Program Financing
Contract) to be terminated (or if, after the Term, GE or GECITS desires to terminate a Program
Financing Contract, other than a defaulted Program Financing Contract, with an Obligor), in each
case other than (A) under the circumstances set forth in Section 6.3(a) or 6.3(b)
or (B) in accordance with the terms of the applicable Program Financing Contract, then provided
that (x) GE shall receive such request in writing (whether in hard copy or by facsimile
transmission, email or other electronic format), (y) GE shall deliver to IKON notice of such
Obligor request at least two (2) Business Days prior to delivering any buy-out quote or other
termination payment to such Obligor, and (z) GE shall deliver notice to such Obligor of any such
buy-out quote or termination payment only in writing, addressed to the billing address of such
Obligor, GE and GECITS shall be entitled to terminate such Program Financing Contract so long as
IKON receives, at the time of such termination, an amount not less than seventy-five percent (75%)
of the sum of (1) all due but uncollected Base Equipment Service Payments, CPC Payments and Service
Sales Tax Payments under such Program Financing Contract at the time of such termination,
plus (2) the sum of all future Base Equipment Service Payments not yet due under such
Program Financing Contract; provided that any amounts received by GE or GECITS in
connection with any termination of any Program Financing Contract of the type contemplated by this
Section 6.3(c)(i)) shall be allocated, pro rata, between (x) the amounts set forth in
clause (1) and (2) above, and (y) all amounts otherwise due and to become due under such Program
Financing Contract which GECITS is entitled to retain, for its own account, pursuant to Section
5.3(a). IKON shall use commercially reasonable efforts to cooperate with GE and GECITS in
connection with any discussions or settlement negotiations with Customers that have initiated a
request for a Program Financing Contract to be terminated under the circumstances described in this
Section 6.3(c)(i) (including by promptly responding to any proposals made by GE, GECITS or
such Customer relating to the settlement of amounts due or to become due thereunder).

               (ii) If a Customer initiates a request for a Program Stream Financing Agreement (or any
Program Stream Financing thereunder) to be terminated (or if, after the Term, IKON desires to
terminate a Program Stream Financing Agreement (or any Program Stream Financing thereunder)), in
each case other than (A) under the circumstances set forth in

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Section 6.3(a) or 6.3(b) or (B) in accordance with the terms of the applicable
Program Stream Financing Agreement, then IKON shall be entitled to terminate such Program Stream
Financing Agreement (or Program Stream Financing thereunder) so long as GECITS receives, at the
time of such termination, an amount not less than seventy-five percent (75%) of the sum of (1) all
due but uncollected Program Stream Financing Payments and other payments or amounts in respect of
such Program Stream Financing that GE or GECITS is entitled to retain, for its own account,
pursuant to Section 5.3(b), in each case, at the time of such termination, plus (2)
the sum of all future Program Stream Financing Payments not yet due thereunder; provided
that any amounts received by IKON in connection with any termination of any Program Stream
Financing Agreement of the type contemplated by this Section 6.3(c)(ii)) shall be
allocated, pro rata, between (x) the amounts set forth in clause (1) and (2) above, and (y) all
amounts otherwise due and to become due under such Program Stream Financing Agreement which IKON is
entitled to retain, for its own account, pursuant to Section 5.3(b). GE and GECITS shall
use commercially reasonable efforts to cooperate with IKON in connection with any discussions or
settlement negotiations with Customers that have initiated a request for a Program Stream Financing
Agreement (or any Program Stream Financing thereunder) to be terminated under the circumstances
described in this Section 6.3(c)(ii) (including by promptly responding to any proposals
made by IKON or such Customer relating to the settlement of amounts due or to become due
thereunder).

               (iii) GE shall promptly notify IKON of any Customer request received by GE or GECITS to modify
or terminate any Equipment Service Obligations under any Program Financing Contract or Program
Stream Financing Agreement (and the amount of any Base Equipment Service Payment in respect
thereof).

          6.4. Administrative Support from IKON. IKON shall promptly notify GE of the identity
and location of any Equipment relating to any Program Financing Contract or Program Stream
Financing for which IKON wishes to substitute alternate Equipment in satisfaction of any warranty
claims or to remedy any Equipment failure or service problems (together with the identity of such
alternate Equipment (which shall, in each case, be Equipment with like or improved condition,
having the same or greater value and functionality) and IKON shall use its commercially reasonable
efforts to promptly notify GE of (a) all requests made to IKON by Customers for the relocation of
any Equipment that is the subject of a Program Financing Contract or Program Stream Financing to
locations other than those specified in such Program Financing Contract or the related Program
Stream Financing Agreement (as applicable), the assignment of such Customer’s interest in any such
Program Financing Contract or the related Program Stream Financing Agreement (or Program Stream
Financing thereunder) or any related Equipment or sublease of any such Equipment and (b) any
removal, loss or destruction known to IKON of any Equipment that is the subject of a Program
Financing Contract or Program Stream Financing Agreement. IKON shall use its best efforts to
promptly implement a process by which all requests made to IKON by Customers to relocate any
Equipment to locations other than those specified in the applicable Program Financing Contract or
Program Stream Financing Agreement, assign such Customer’s interest in any Program Financing
Contract or Program Stream Financing Agreement or any related Equipment or to sublease any such
Equipment, are promptly communicated to GE. IKON shall not move, relocate or

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otherwise cooperate with any change in the location of any Equipment to locations other than
those specified in the applicable Program Financing Contract or Program Stream Financing Agreement
unless (x) in the case of any such move, relocation or change to a location outside of the United
States, IKON shall have received a copy of GE’s prior written consent to such move, relocation or
change or (y) in the case of any such move, relocation or change to a location within the United
States, IKON shall deliver written notice to GE thereof (whether in hard copy or through the
transmission of such information through the maintenance queue in IKONICS) within ten (10) days
after such move, relocation or change.

          6.5. Evergreen Rentals. (a) If GE receives, (i) pursuant to any Program Financing
Contract, Lease Payments in respect of periods following the stated termination date of such
Program Financing Contract, (ii) pursuant to any Program Facilities Management Agreement, Program
FM Stream Financing Payments in respect of periods following the stated termination date thereof,
or (iii) pursuant to any Program Equipment Management Agreement, Program EM Stream Financing
Payments in respect of periods following the stated termination date thereof (the payments in
clauses (i), (ii) and (iii) above being hereinafter referred to as “Evergreen Rentals”),
GE shall retain such Evergreen Rentals for its own account (subject to Section 1 of
Schedule 1).

          (b) Lease Payments or Program Stream Financing Payments in respect of any fixed- or firm-term
renewal of any Program Financing Contract, Program FM Stream Financing or Program EM Stream
Financing that shall have theretofore reached its stated contractual term shall be deemed to be
Evergreen Rentals for purpose of this Agreement, and such renewals shall not constitute new
Originated Financing Contracts, IKON Originated Financing Contracts, SLG Financing Contracts or new
Program FM Stream Financings, Program EM Stream Financings or Replacement Financings or, except as
provided in Section 1 of Schedule 1, give rise to any other payments to IKON
(whether for origination fees or otherwise).

          (c) GECITS shall be entitled to enter into any amendment to any Program Financing Contract
(whether prior to the end of the stated contractual term thereof or otherwise) which extends such
stated contractual term of such Program Financing Contract and, in addition to such extension,
permits the Obligor thereunder to terminate such Program Financing Contract (subject to the
satisfaction of certain conditions by such Obligor) without payment by such Obligor of the full Net
Book Value thereof at the time of such termination (whether in connection with a cancellation,
upgrade or otherwise). Lease Payments received by GE or GECITS in respect of any such Program
Financing Contract (to the extent both in respect of (x) periods after the original stated
contractual term of such Program Financing Contract and (y) Equipment subject to such Program
Financing Contract, in each case, immediately prior to giving effect to any such amendment) shall
be deemed to be Evergreen Rentals for purpose of this Agreement, and any such extension shall not
constitute a new Originated Financing Contract, IKON Originated Financing Contract, SLG Financing
Contract or Replacement Financing or, except as provided in Section 1 of Schedule
1, give rise to any other payments to IKON (whether for origination fees or otherwise).

          6.6. Performance of Services; Force Majeure. (a) Each of GE, GECITS and IKON
acknowledges and agrees that the ability of each party to perform its obligations under

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this Agreement, the Servicing Agreement, the Subservicing Agreements, the Services Agreement
and/or the Marketplace Servicing Agreement may be subject to the prior or concurrent performance by
the other party of certain related services. In consequence of the foregoing, each of GE, GECITS
and IKON further agree that upon the occurrence and during the continuance of any breach under this
Agreement, the Servicing Agreement, the Subservicing Agreements, the Services Agreement and/or the
Marketplace Servicing Agreement by GE, GECITS or IKON (as applicable), the other party shall be
relieved of any of its performance obligations under this Agreement, Servicing Agreement, the
Subservicing Agreements, the Services Agreement and/or the Marketplace Servicing Agreement (as
applicable) to the extent that (and for so long as) such breach has the effect of causing the
non-breaching party to be unable to perform its obligations thereunder.

          (b) No party shall be considered to be in default in the performance or observation of any of
its duties or obligations under this Agreement if its failure to so perform or observe any such
duty or obligation shall be caused by or result from a Force Majeure Event; provided,
however, such party shall not be relieved of its duties or obligations hereunder if such
failure is caused by or related to removable or remediable causes which such party fails to remove
or remedy using commercially reasonable efforts within a commercially reasonable time period. If
any party is rendered unable to perform or observe any of its obligations under this Agreement by
reason of a Force Majeure Event, it shall give verbal notice of such fact to the other party no
more than one (1) Business Day after the occurrence of such Force Majeure Event, followed by
written notice given to such other party no more than five (5) Business Days thereafter. Such
notices shall give a reasonably detailed description of such Force Majeure Event and provide the
affected party’s reasonable estimate of the period of time for which it will likely be unable to
observe or perform any of its duties or obligations hereunder due to such Force Majeure Event. The
affected party shall exercise commercially reasonable efforts to remove such inability with all
reasonable dispatch and provide notice to the other party within one (1) Business Day of the
cessation of such Force Majeure Event.

ARTICLE 7.

AUDIT RIGHTS

          7.1. Audit Rights.

          (a) (i) GE and GECITS will, on an annual basis, cause their external auditors to perform audit
procedures, and issue an audit report to IKON’s external auditors, in respect of the reports
relating to IKON’s fiscal year end entitled “balance sheet – detailed Oracle” and “income statement
– detailed Oracle” required to be delivered by GE to IKON pursuant to the Services Agreement or, to
the extent GE shall no longer be required to deliver such reports, the data that would have been
utilized by GE in preparation thereof (such reports or data, the “Financial Data”). In
connection with the performance of such audit procedures, GE and GECITS will (x) afford their
external auditors access to the books, records, files and papers used or held for use by GE or
GECITS in connection with the conduct of the Program and relating to the servicing of all Program
Financing Contracts and Program Stream Financings, the servicing of the Financing Contracts
constituting part of the Retained Portfolio pursuant to the

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Servicing Agreement or any servicing agreement constituting a Securitization Document and/or
the services provided pursuant to the Services Agreement, and (y) cause their external auditors to
permit the external auditors of IKON to perform such procedures as are reasonably necessary to
satisfy their obligations under AU 543. GE shall not unreasonably condition, withhold or delay its
approval of the nature, scope or timing of the audit procedures, and shall consider changes in
applicable Law in its consideration thereof.

               (ii) In addition to the annual audit procedures described in clause (i) above, GE and GECITS
will, on a quarterly basis, cause their external auditors to perform (x) a review of the Financial
Data and issue a review report to IKON’s external auditors, and (y) such other procedures,
including testing, and report their findings in respect thereof to IKON and its external auditors,
in each case as the parties may mutually agree. The agreed-upon procedures to be performed
pursuant to clause (y) above shall be confirmed in advance by IKON and GE in writing, but shall, at
a minimum, be reasonably designed to satisfy IKON and its external auditors as to confirmation (to
the agreed-upon level of materiality) of (I) the origination and other fees payable by GE or GECITS
to IKON under this Agreement, including without limitation, amounts payable pursuant to
Sections 10.1 and 10.2 hereof (including the amounts payable to IKON pursuant to
Schedule 1 hereto), (II) servicing fees payable by IKON to GE under the Servicing Agreement
and the Services Agreement, (III) the application and remittance of payments by GE in accordance
with the terms of Sections 5.2 and 5.3 hereof, the Servicing Agreement and any
servicing agreement constituting a Securitization Document (as applicable), and (IV) charges
against the loss pool in accordance with Section 10.6 hereof.

               (iii) GE shall cause its external auditors to prepare and deliver to IKON and its external
auditors, on an annual basis (based on procedures performed through an agreed upon
“strike-date” occurring prior to the end of IKON’s fiscal year, and supplemented by a
roll-forward through the end of IKON’s fiscal year), a Type II SAS 70 report. In addition to the
nature, scope and timing of the report to be issued by the external auditors of GE in respect
thereof, the specific procedures to be performed shall be confirmed in advance by IKON and GE in
writing but shall, at a minimum, be designed to evaluate GE’s description of controls as they
pertain to GE’s servicing of (A) Program Financing Contracts and Program Stream Financings pursuant
to this Agreement (but only to the extent that such servicing relates to amounts due and payable to
IKON under this Agreement) and (B) Financing Contracts constituting part of the Retained Portfolio
pursuant to the Servicing Agreement or any servicing agreement constituting a Securitization
Document (the “GE Specified Controls”), including whether the GE Specified Controls were
suitably designed to achieve specified control objectives, whether the GE Specified Controls had
been in place as of the time specified in the applicable report, and whether the GE Specified
Controls that were tested were operating with sufficient effectiveness to provide reasonable
assurance that the related control objectives were achieved during IKON’s fiscal year (or such
portion thereof as the Program was in effect). GE and GECITS shall, and shall cause their external
auditors to, endeavor to alert IKON promptly of any identified weakness in respect of GE Specified
Controls with the intent that IKON have an opportunity to review and understand the findings in
advance of any IKON fiscal year reporting requirements. GE shall not unreasonably condition,
withhold or delay its approval of the nature, scope or

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timing of the SAS 70 review, and shall consider changes in applicable Law in its consideration
thereof.

               (iv) The costs (including actual out-of-pocket costs in connection with any procedures
performed by GE’s external auditors) incurred by GE as a result of any review conducted pursuant to
Sections 7.1(a)(i), 7.1(a)(ii) and 7.1(a)(iii) shall be borne exclusively
by IKON.

          (b) (i) At GE’s request, IKON will, on an annual basis, cause its external auditors to perform
audit procedures, and issue an audit report to GE’s external auditors, in respect of the Program
Financing Contracts and Program Stream Financings serviced by IKON pursuant to the Marketplace
Servicing Agreement (the “IKON Serviced Assets”). In connection with the performance of
such audit procedures, IKON will (x) afford their external auditors access to the books, records,
files and papers used or held for use by IKON in connection the IKON Serviced Assets and/or the
services provided pursuant to the Services Agreement, and (y) cause its external auditors to permit
the external auditors of GE to perform such procedures as are reasonably necessary to satisfy their
obligations under AU 543. IKON shall not unreasonably condition, withhold or delay its approval of
the nature, scope or timing of the audit procedures, and shall consider changes in applicable Law
in its consideration thereof.

               (ii) At GE’s request, in addition to the annual audit procedures described in clause (i)
above, IKON will, on a quarterly basis, cause its external auditors to perform (x) a review of the
IKON Serviced Assets and issue a review report to GE’s external auditors, and (y) such other
procedures, including testing, and report their findings in respect thereof to GE and its external
auditors, in each case as the parties may mutually agree. The agreed-upon procedures to be
performed pursuant to clause (y) above shall be confirmed in advance by IKON and GE in writing, but
shall, at a minimum, be reasonably designed to satisfy GE and its external auditors as to
confirmation (to the agreed-upon level of materiality) of (I) the proceeds received by IKON in
connection with the sale of Off-Lease Equipment, IKON Off-Lease Equipment and Defaulted Equipment
during the Term, (II) the fees paid or payable by GE to IKON in connection with the syndication of
Rejected Eligible Financing Contracts, (III) servicing fees payable by GE to IKON under the
Services Agreement, and (IV) the application and remittance of payments by IKON to GE in accordance
with the terms of the Marketplace Servicing Agreement.

               (iii) The costs (including actual out-of-pocket costs in connection with any procedures
performed by IKON’s external auditors) incurred by IKON as a result of any review conducted
pursuant to Sections 7.1(b)(i) and 7.1(b)(ii) shall be borne exclusively by GE.

          (c) The parties each agree to provide access, upon request, during normal business hours and
in such a manner as shall not unduly interfere with or interrupt the operation, conduct or
management of the other party’s business or the Program, to books and records and personnel as
necessary or appropriate to provide assistance in respect of the requesting party’s response to (i)
any tax audit or proceeding, or (ii) any Third Party Actions or inquiries addressed to the
requesting party from any Governmental Entity; provided that to the extent any such
requests for assistance are extraordinary and out of the ordinary course of business (and/or

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materially exceed the scope of such assistance provided by IKON to IOS Capital or vice versa
prior to the Pre-Closing Merger), the requesting party shall pay the costs (including reasonable
out-of-pocket costs) incurred by the party providing such assistance pursuant to this Section
7.1(c).

ARTICLE 8.

REPRESENTATIONS, WARRANTIES AND COVENANTS

          8.1. General Representations and Warranties of IKON. IKON hereby represents and
warrants to GE, GECITS and their respective successors and permitted assigns that as of the date
hereof:

          (a) There are no civil, criminal or administrative Actions pending (including any
counterclaims) or, to IKON’s knowledge, threatened, against IKON which if adversely determined
against IKON would reasonably be likely to have an IKON Material Adverse Effect.

          (b) On the date hereof, the location of IKON’s state of incorporation is Ohio.

          8.2. Transactional Representations and Warranties of IKON. (a) With respect to each
Originated Financing Contract, each IKON Originated Financing Contract, each SLG Financing
Contract, each Program EM Stream Financing and each Program FM Stream Financing, IKON hereby
represents and warrants to GE, GECITS and their respective successors and permitted assigns that as
of the Transfer Date with respect to the Equipment subject or related to such Financing Contract or
Program Stream Financing:

               (i) Immediately prior to the sale, transfer, conveyance or assignment of any Equipment subject
or related to such Program Financing Contract, Program FM Stream Financing or Program EM Stream
Financing (and any related IKON Originated Financing Contract, SLG Financing Contract, Program FM
Stream Financing, Program EM Stream Financing or Purchased Assets (as applicable)) by IKON pursuant
to this Agreement, IKON had good and valid title to such Equipment (and any related IKON Originated
Financing Contract, SLG Financing Contract, Program FM Stream Financing, Program EM Stream
Financing and Purchased Assets (as applicable)), free and clear of any and all Liens of any nature
(including Liens arising under the federal, state or local tax Laws or the Employee Retirement
Income Security Act of 1974, as amended) except for Liens for property taxes that are not, as of
such Transfer Date, due and payable, and, upon the sale, transfer, conveyance or assignment of any
Equipment subject or related to such Program Financing Contract, Program EM Stream Financing or
Program FM Stream Financing (and any related IKON Originated Financing Contract, SLG Financing
Contract, Program FM Stream Financing, Program EM Stream Financing and Purchased Assets (as
applicable)) by IKON pursuant to this Agreement, GECITS (or GE’s designee under Section
5.7(c)) shall have good and valid title to such Equipment (and any related IKON Originated
Financing Contract, SLG Financing Contract, Program FM Stream Financing, Program EM Stream
Financing and Purchased Assets (as applicable)) free and clear of any and all Liens of any nature
(including Liens arising under the federal, state or local tax Laws or the Employee Retirement
Income Security Act of 1974, as amended), other than the

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rights of the Customer under the Program Financing Contract, Program Facilities Management or
Program Equipment Management Agreement (as applicable) relating thereto. This Agreement
constitutes a valid sale, transfer, conveyance and assignment from IKON to GECITS (or GE’s designee
under Section 5.7(c)) (and not solely a transfer for security purposes) of the Equipment
subject to such Program Financing Contract or related to such Program FM Stream Financing or
Program EM Stream Financing (and any related IKON Originated Financing Contract, SLG Financing
Contract, Program FM Stream Financing, Program EM Stream Financing and Purchased Assets (as
applicable)).

               (ii) Other than the original “master” Program Financing Contract or Program Stream Financing
Agreement (if applicable) or, in each case, prior amendments or addendum, true, correct and
complete copies of each of which, to the extent so requested by GE or GECITS, have been previously
made available to GE and GECITS, there are no documents, instruments or other agreements entered
into by IKON and the Customer or IKON and any Person, other than GECITS, in connection with such
Program Financing Contract, Program FM Stream Financing or Program EM Stream Financing that affect,
modify or limit any of GECITS’ rights under such Program Financing Contract, Program FM Stream
Financing or Program EM Stream Financing (as applicable) that is not contained in the Document
Package that was delivered to GE pursuant to Section 5.5 in connection with such Program
Financing Contract, Program FM Stream Financing or Program EM Stream Financing on or prior to the
Transfer Date with respect to the Equipment subject or related thereto. To the best of IKON’s
knowledge, each Document Package is true, correct, complete and accurate in all material respects.

               (iii) No member of IKON’s sales force has received written notice or has any knowledge, except
as specifically disclosed to GE and GECITS in writing as part of the Document Package for any such
proposed Program Financing Contract, Program FM Stream Financing or Program EM Stream Financing:
(i) of any material fact or circumstance which would impair the validity or the enforceability of
such proposed Program Financing Contract, Program FM Stream Financing (or the Program Facilities
Management Agreement to which such Program FM Stream Financing relates) or Program EM Stream
Financing (or the Program Equipment Management Agreement to which such Program EM Stream Financing
relates); or (ii) that the Customer intends to reject or revoke its acceptance of the Equipment
subject or related to such proposed Program Financing Contract, Program FM Stream Financing or
Program EM Stream Financing. None of IKON, any of its Affiliates or any of their respective
employees or agents has participated in, and none of them has any knowledge of, any fraudulent act
committed in connection with any proposed Program Financing Contract, any Program Facilities
Management Agreement to which such Program FM Stream Financing relates or any Program Equipment
Management Agreement to which such Program EM Stream Financing relates. There has not been any
act, failure to act, omission or misrepresentation by IKON that modifies or amends any such Program
Financing Contract, Program FM Stream Financing (or the Program Facilities Management Agreement to
which such Program FM Stream Financing relates) or Program EM Stream Financing (or the Program
Equipment Management Agreement to which such Program EM Stream Financing relates). There has not
been any misconduct or misrepresentation by any IKON Company in the sourcing, negotiation or
documentation of a Program Financing Contract, Program FM Stream Financing (or the Program
Facilities

51

 

Management Agreement to which such Program FM Stream Financing relates) or Program EM Stream
Financing (or the Program Equipment Management Agreement to which such Program EM Stream Financing
relates) (including misrepresentations by any employee, representative or agent of such IKON
Company to an Obligor, Customer or an IKON Company) or that nullifies, limits or in any way affects
the genuineness, validity or enforceability of any obligation of a Customer or Obligor in respect
of any proposed Program Financing Contract, Program FM Stream Financing or Program EM Stream
Financing.

               (iv) Except as otherwise disclosed to GE or GECITS in writing, to the knowledge of each
Responsible Officer of IKON, all of the Equipment subject or related to such Program Financing
Contract, Program FM Stream Financing or Program EM Stream Financing is in conformity with all
applicable Laws, except that no representation or warranty is made in this clause (d) as to the
conformity of any Equipment with any applicable intellectual property Laws.

               (v) With respect to each SLG Financing Contract and each Program Stream Financing the Obligor
in respect of which is a State and Local Government Entity, (i) IKON has complied, in all material
respects, with all bidding requirements applicable to such SLG Financing Contract, Program
Equipment Management Agreement or Program Facilities Management Agreement related to such Program
Stream Financing and with all requirements of any RFPs applicable thereto, including those
requirements applicable to the Equipment subject thereto and all applicable federal and state
statutes and regulations including those governing equal employment opportunity, affirmative action
and environmental protection and (ii) IKON is the “contractor”, or assignee of the “contractor”,
named in and subject to such RFPs.

          (b) With respect to each Purchased Property Tax Receivable, IKON hereby represents and
warrants to GE, GECITS and their respective successors and permitted assigns that as of the
Transfer Date with respect to such Purchased Property Tax Receivable:

               (i) IKON has good and marketable title to, and legal ownership of, such Purchased
Personal Property Tax Receivables, free and clear of all Liens and has not previously
assigned, pledged or committed to assign or pledge any interest or participation in such
Purchased Personal Property Tax Receivables to any Person;

               (ii) neither IKON nor any of its employees or agents have participated in, or have
knowledge of, any fraudulent act committed in connection with any Purchased Personal
Property Tax Receivables (or the Financing Contract in respect thereof), or by or in
respect of any Obligor; and

               (iii) Except with respect to information previously delivered by IKON or its
employees or Affiliates to GE or GECITS, to IKON’s knowledge, no deficiencies or
assessments are being asserted or made against such Purchased Personal Property Tax
Receivables with respect to any Taxes, fees or other charges in regard of or against
such Purchased Personal Property Tax Receivables.

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          8.3. Covenants of IKON. IKON hereby covenants to GE, GECITS and their respective
successors and assigns that throughout the term of this Agreement:

          (a) IKON shall comply (and shall cause each other IKON Company to comply) in all respects with
all of their agreements or commitments with Obligors under or relating to each Program Financing
Contract, each Program Stream Financing Agreement and the Equipment covered thereby, including (i)
IKON’s or any other IKON Company’s obligation (if any) to maintain insurance with respect to such
Equipment, (ii) IKON’s or any other IKON Company’s Equipment or software service, maintenance,
third party billing, warranty, indemnity, most favored pricing or lowest cost commitment,
facilities management, labor, staffing, supply, reporting, fleet management, image management
commitment and other similar obligations and (iii) any other obligations that IKON has agreed, in
writing (as among itself, GE and GECITS) to assume or retain (the obligations in clauses (i), (ii)
and (iii) collectively being referred to as the “Equipment Service Obligations”).

          (b) IKON shall comply with all acts, rules, regulations, orders, decrees and directions of any
Governmental Entity applicable to it, including in connection with IKON’s distribution or sale of
Equipment.

          (c) With respect to each SLG Financing Contract, Program FM Stream Financing and Program EM
Stream Financing in respect of which the Obligor thereunder is a State and Local Government Entity,
(i) IKON shall comply with all bidding requirements applicable to such SLG Financing Contract,
Program Facilities Management Agreement related to such Program FM Stream Financing or Program
Equipment Management Agreement related to such Program EM Stream Financing (as applicable) and with
all requirements of any RFPs applicable thereto, including those requirements applicable to the
Equipment subject thereto and all applicable federal and state statutes and regulations including
those governing equal employment opportunity, affirmative action and environmental protection and
(ii) in the event of a Non-Appropriation of Funds with respect to such SLG Financing Contract or
such Program FM Stream Financing, IKON shall not sell, lease, rent or otherwise provide to the
State and Local Government Entity that is the Obligor thereunder any Equipment serving essentially
the same purpose and function (within the same building) as the Equipment subject to such SLG
Financing Contract or related to such Program FM Stream Financing or Program EM Stream Financing
for a period of one (1) year from the date of such Non-Appropriation of Funds, unless IKON
repurchases such SLG Financing Contract, Program FM Stream Financing or Program EM Stream Financing
from GECITS for an amount equal to the Net Book Value thereof at the time of such purchase.

          (d) IKON shall immediately notify GE upon any Responsible Officer of IKON or any of its
Affiliates obtaining any knowledge of any fraudulent act of the type described in Section
8.2(a)(iii).

          (e) All property taxes assessed or imposed on or prior to the Transfer Date with respect to
any Equipment subject to a Program Financing Contract (other than a Purchased Financing Contract)
or related to a Program Stream Financing shall be timely remitted by IKON to the appropriate taxing
authority and IKON shall, on request, provide or cause to be provided

53

 

to GE, evidence of such payment as promptly as possible. In the event that any bill for any
property taxes required to be remitted by IKON pursuant to this Section 8.3(e) is received
by GE or GECITS, GE or GECITS (as the case may be) shall promptly deliver such bill to IKON.

          (f) Except upon fifteen (15) days’ prior written notice to GE, IKON shall not (i) change its
jurisdiction of organization from that referred to in Section 8.1(b) or (ii) change its
corporate name.

          (g) If IKON shall cease to be a reporting company under Section 13(a) or 15(d) of the Exchange
Act, or shall otherwise cease to file or be obligated to file with the Securities and Exchange
Commission (the “Commission”) Annual Reports on Form 10-K and Quarterly Reports on Form
10-Q, IKON shall provide to GE the practical equivalents thereof (at the same times as shall
otherwise apply with respect to IKON’s filing of such financial statements and reports) which shall
be accompanied by a certificate, executed by an officer of IKON, certifying that the information
contained therein fairly present in all material respects the financial position of IKON on a
consolidated basis as of the dates thereof and the results of operations of IKON on a consolidated
basis for the periods covered thereby, all in conformity with United States generally accepted
accounting principles applied on a consistent basis (subject, in the case of quarterly financial
statements, to normal year-end adjustments that shall not be material in amount). Notwithstanding
the foregoing, in the event that (i) IKON would otherwise be required, pursuant to the provisions
of this Section 8.3, to provide GE with the practical equivalents of Annual Reports on Form
10-K and Quarterly Reports on Form 10-Q (the “Equivalent Financial Reports”) and (ii) 100%
of the capital stock of IKON is acquired by a company that files annual, quarterly and periodic
reports under Section 13(a) or 15(d) of the Exchange Act (the “Acquiring Company”) and
(iii) such Acquiring Company irrevocably and unconditionally guarantees all, but not less than all,
of the liabilities and obligations of IKON under this Agreement and each of the IKON Operative
Agreements, then so long as such Acquiring Company continues to file all such reports under Section
13(a) or 15(d) of the Exchange Act as and when due, IKON shall not be required to deliver the
Equivalent Financial Reports to GE pursuant to this Section.

          (h) IKON shall give GE written notice of the occurrence of any Material Adverse Change within
five Business Days after such occurrence.

          (i) On or prior to the Transfer Date with respect to any Equipment subject or related to any
proposed Program Financing Contract, Program FM Stream Financing or Program EM Stream Financing,
all such Equipment shall be delivered to the location indicated in the related Program Financing
Contract or, with respect to a Program FM Stream Financing or Program EM Stream Financing, the
related Program Stream Financing Agreement.

          8.4. Representations and Warranties of GE and GECITS. Each of GE and GECITS hereby
represents and warrants to IKON, and its successors and permitted assigns that, as of the date
hereof:

          (a) GECITS (i) is duly organized, validly existing and in good standing under the Laws of its
jurisdiction of organization, (ii) has the requisite power (x) to own and lease its

54

 

Property and (y) except for such franchises, licenses, permits, authorizations and approvals
the lack of which, individually or in the aggregate, would not reasonably be expected to have a GE
Material Adverse Effect, to carry on its business as now being conducted and (iii) is duly
qualified to conduct business and is in good standing as a foreign Person in all jurisdictions in
which the character or location of the Property owned or leased by it or the nature of the business
conducted by it requires such authorization or qualification, except where the failure to be so
qualified or authorized has not and would not reasonably be expected to have a GE Material Adverse
Effect.

          (b) GECITS has all requisite power and authority to execute and deliver, and to perform its
obligations under, this Agreement and each other GE Operative Agreement to which it is a party.

          (c) The execution and delivery of this Agreement and each other GE Operative Agreement to
which it is a party, and the consummation of the transactions contemplated hereby and thereby, have
been duly authorized by all necessary action on the part of GECITS.

          (d) This Agreement and each other GE Operative Agreement to which GECITS is a party constitute
the legal, valid and binding obligation of GECITS, enforceable against it in accordance with their
respective terms, except as enforcement thereof may be limited by the Bankruptcy Exception.

          (e) None of the execution and delivery by GECITS of this Agreement or any other GE Operative
Agreement to which it is a party, the compliance by GECITS with the terms and provisions hereof and
thereof, or the consummation by GECITS of the transactions contemplated hereby and thereby, will
conflict with, constitute a default under or result in a breach of any of the terms, conditions or
provisions of or create a right of termination or cancellation under (i) the certificate of
incorporation or by-laws of GECITS, (ii) any Law to which GECITS, any of its Subsidiaries or any of
their respective Properties are subject or (iii) any indenture, loan agreement, mortgage, deed of
trust or other agreement or instrument to which GECITS or any of its Subsidiaries is a party or
which is binding on any of their respective Properties, except, in the case of this clause (iii),
for such conflicts, breaches or defaults as shall not, individually or in the aggregate, have a GE
Material Adverse Effect.

          (f) There are no civil, criminal or administrative Actions pending (including any
counterclaims) or, to GECITS’ knowledge, threatened, against GECITS which if adversely determined
against GECITS would reasonably be likely to have a GE Material Adverse Effect.

          (g) The execution and delivery by GECITS of this Agreement and each other GE Operative
Agreement to which it is a party and the consummation by GECITS of the transactions contemplated
hereby or thereby, will neither require any notices, reports or other filings to be made by GECITS
with, nor require any consents, licenses, permits, authorizations or approvals from, (i) any
Governmental Entity or (ii) any other Person, other than (A) those already obtained, given,
effected or taken prior to the date hereof, in the case of clauses (i) and

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(ii) above and (B) those the failure of which to obtain or make would not reasonably be
expected to have a GE Material Adverse Effect, in the case of clause (ii).

          (h) Each of GE and GECITS has entered into such agreements with VFS Macon as are necessary to
secure the services and performance of VFS Macon employees under this Agreement.

          8.5. Covenants of GE and GECITS. Each of GE and GECITS hereby covenants to IKON and
its successors and assigns that throughout the term of this Agreement:

          (a) GECITS shall comply in all respects with all of its agreements or commitments with
Obligors, in its capacity as equipment lessor, under or relating to each Originated Financing
Contract, IKON Originated Financing Contract and SLG Financing Contract; provided that in
no event shall GECITS be deemed to have any obligations whatsoever in respect of the Equipment
Service Obligations thereunder (which the parties hereby agree, for the avoidance of doubt, shall
be the sole and exclusive obligations of IKON).

          (b) Each GE Party shall comply with all acts, rules, regulations, orders, decrees and
directions of any Governmental Entity applicable to it, including in connection with provision of
financing for Equipment under the Program.

          (c) GECITS shall timely remit to the appropriate taxing authority all property taxes assessed
or imposed after the applicable Transfer Date with respect to any Equipment subject or related to
any Originated Financing Contract, IKON Originated Financing Contract, SLG Financing Contract or
Program Financing Stream. In the event that any bill for any property taxes required to be
remitted by GECITS pursuant to this Section 8.5(c) is received by IKON, IKON shall promptly
deliver such bill to GECITS.

          (d) None of GE, GECITS or VFS Macon shall authorize, assign or require any Financial Sales
Specialist or functional equivalent employed by any of them in connection with the Program (each,
an “FSS”) to perform any comparable role for GECITS, VFS Macon or the GE Commercial Finance
business unit of GE, in connection with any vendor financing program between GECITS, VFS Macon or
the GE Commercial Finance business unit of GE, and any Person set forth on Annex E at any
time any such employee is both (i) engaged as an FSS and (ii) either collocated (whether on a
full-time or part-time basis) with IKON at an IKON facility or temporarily on any IKON facility
premises (provided that the premises subleased by GE from IKON located in Macon, Georgia shall not
be deemed to constitute an IKON facility).

          (e) GECITS shall service, administer and collect the Purchased Personal Property Tax
Receivables on a basis that does not discriminate (on an aggregate basis) among Program Financing
Contracts and Program Stream Financings, on the one hand, and Purchased Personal Property Tax
Receivables, on the other hand.

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ARTICLE 9.

REMEDIES

          9.1. IKON Indemnities. IKON shall indemnify and hold harmless each GE Party, its
Affiliates and each of their respective employees, officers, directors and agents, from and against
any and all Damages suffered or incurred by any of them resulting from, arising out of or in
connection with (a) any breach by IKON of any of its representations or warranties hereunder or
under any other IKON Operative Agreement, (b) any failure by IKON to perform any covenant,
agreement or obligation to be performed by IKON pursuant to this Agreement or any other IKON
Operative Agreement, (c) any failure by IKON to comply with applicable bulk sale or bulk transfer
Laws or similar Laws and regulations in connection with the transactions contemplated by this
Agreement, (d) the use by IKON of, or (except in the case of willful misconduct by GE) the reliance
by IKON on, any credit, financial or other information obtained or prepared by GE in connection
with the credit review of any Application or proposed Originated Financing Contract, IKON
Originated Financing Contract, SLG Financing Contract or Program Stream Financing and delivered to
IKON pursuant to Section 5.5(d), or (e) any Financing Contract requested by IKON to be
executed by GE and transferred to IKON pursuant to the provisions of Section 5.12;
provided that Section 6.1(b) and 6.1(d) shall be the sole remedy for GE and
GECITS for Damages (other than Damages to GE or GECITS arising in connection with any Third Party
Action) represented by the failure of any Obligor to make one or more payments under a Program
Financing Contract or with respect to a Program FM Stream Financing or Program EM Stream Financing
(as applicable) as a consequence of an IKON Servicing Breach.

          9.2. GE Indemnities. GE and GECITS shall indemnify and hold harmless IKON, its
Affiliates and each of their respective employees, officers, directors and agents, from and against
any and all Damages suffered or incurred by any of them resulting from, arising out of or in
connection with (a) any breach by any GE Party of any of its representations or warranties
hereunder or under any other GE Operative Agreement, (b) any failure by any GE Party to perform any
covenant, agreement or obligation to be performed by it pursuant to this Agreement or any other GE
Operative Agreement or (c) any failure by GECITS to comply with applicable bulk sale or bulk
transfer Laws or similar Laws and regulations in connection with any transfer by GECITS of Program
Financing Contracts and Program Stream Financings to IKON pursuant to this Agreement.

          9.3. Indemnification Procedure for Third Party Actions. For the purposes of
administering the indemnification provisions of Sections 9.1 and 9.2, the following
procedures shall apply to Third Party Actions following the Original Effective Date:

          (a) An Indemnitee shall notify the Indemnitor in writing within 30 days following the receipt
of notice of any Third Party Action against such Indemnitee that gives rise to a claim for
indemnity pursuant to Section 9.1 or 9.2 (any 30-day notification requirement shall
begin to run, in the case of a Third Party Action which is amended so as to give rise to an event
for which indemnification may be sought under this Agreement, from the first day such Indemnitee
receives notice that such Third Party Action is amended to include any claim for

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which indemnity may be sought pursuant to Section 9.1 or 9.2), such notice
shall describe in reasonable detail the basis of such Third Party Action. The failure to give
notice as required by this Section 9.3(a) in a timely fashion shall not result in a waiver
of any right to indemnification hereunder except to the extent the Indemnitor’s ability to defend
against such Third Party Action is materially and adversely affected by the failure of the
Indemnitee to give notice in a timely fashion as required by this Section 9.3(a).

          (b) The Indemnitor shall be entitled (but not obligated) to assume the defense or settlement
of any such Third Party Action, or to participate in any negotiations or proceedings to settle or
otherwise eliminate any such Third Party Action, if it shall provide the Indemnitee a written
acknowledgement of its liability for the indemnity against Damages relating to such Third Party
Action. If the Indemnitor assumes any such defense or settlement or any such negotiations, it
shall pursue such defense, settlement or negotiations in good faith. If the Indemnitor fails to
elect in writing within 15 Business Days of the notification referred to above to assume the
defense, the Indemnitee may engage counsel to defend, settle or otherwise dispose of such Third
Party Action which counsel shall be reasonably satisfactory to the Indemnitor; provided,
however, that the Indemnitee shall not settle or compromise any such Third Party Action
without the prior written consent or agreement of the Indemnitor (which consent shall not be
unreasonably withheld or delayed).

          (c) In cases where the Indemnitor has assumed the defense or settlement with respect to a
Third Party Action, the Indemnitor shall be entitled to assume the defense or settlement thereof
with counsel of its own choosing; provided, however, that: (A) the Indemnitee (and
its counsel) shall be entitled to continue to participate at its own cost (except as provided
below) in such Third Party Action and to participate in any negotiations or proceedings to settle
or otherwise eliminate, any such Third Party Action; (B) the Indemnitor shall not be entitled to
settle or compromise any such Third Party Action without the prior written consent or agreement of
the Indemnitee (which consent shall not be unreasonably withheld or delayed); provided,
further, that if and only if such consent is withheld and the settlement or compromise
involves only the payment of monetary damages and provides an unconditional release of the
Indemnitee, the Indemnitor’s liability shall be limited to the amount for which the Indemnitor
agreed with the claimant to settle and the Indemnitor shall remain responsible for its costs and
attorneys’ fees to the date such settlement was rejected by the Indemnitee and the Indemnitee shall
be responsible for the attorneys’ fees and disbursements in respect of such claim thereafter; and
(C) after written notice by the Indemnitor to the Indemnitee (as provided above) of its election to
assume control of the defense or settlement of any claim, the Indemnitor shall not be liable to
such Indemnitee hereunder for any attorneys’ fees and disbursements subsequently incurred by such
Indemnitee in connection therewith (except as provided below).

          (d) In the event indemnification is requested, the relevant Indemnitor, its representatives
and agents shall have access to the premises, books and records of the Indemnitee or parties
seeking such indemnification and their Affiliates to the extent reasonably necessary to assist it
in defending or settling any such Third Party Action; provided, however, that such
access shall be conducted in such manner as not to interfere unreasonably with the operation of the
business of the Indemnitee or Indemnitees. Except as reasonably necessary to assist it in
defending or settling such Third Party Action, the Indemnitee shall not be required to disclose

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any information with respect to itself or any of its Affiliates (or former Affiliates), and
the Indemnitee shall not be required to participate in the defense of any claim to be indemnified
hereunder (except as otherwise expressly set forth herein), unless otherwise reasonably required or
necessary in the defense of any claim to be indemnified hereunder. Notwithstanding anything in
this Agreement to the contrary, in no event shall any Indemnitee be obligated to make any
disclosure, or to take or refrain from taking any action that in its reasonable judgment, could
prejudice its position or waive any privilege in respect of any claim for indemnification against
the Indemnitor pursuant to this Section 9.3. All costs and expenses incurred by an
Indemnitee in connection with any access or cooperation requested by the Indemnitor shall be borne
by the Indemnitor. GE, GECITS and IKON shall reasonably cooperate to attempt to resolve or
mitigate Damages with respect to any such Third Party Action; provided, however,
that in no event shall a party’s compliance with the foregoing obligation to reasonably cooperate
be a basis for any claim that any such party shall have waived, limited, relinquished or otherwise
impaired, any rights such party may have pursuant to this Agreement or be raised as a defense to
any such rights.

          (e) In the event the Indemnitor shall request that an Indemnitee participate in the defense or
settlement of an Indemnification Event, the Indemnitor shall pay the costs incurred by the
Indemnitee.

          (f) All indemnities and obligations under this Article 9 shall survive the expiration
or termination of this Agreement and the expiration or termination of any Program Financing
Contract or Program Stream Financing Agreement until the expiration of the statute of limitations
applicable to the matter for which indemnity is sought, and shall be payable promptly upon
presentation of an invoice from the indemnified party therefor.

          9.4. Purchase of Program Financing Contracts, Program Stream Financings and Equipment.
In the event of a material breach by IKON of any representation, warranty or covenant set forth in
Sections 8.2, 8.3(c) or 8.3(i) relating to an event or circumstance
affecting a particular Program Financing Contract, Program Stream Financing, Purchased Personal
Property Tax Receivable or Equipment subject or related to any such Program Financing Contract or
Program Stream Financing, GE or GECITS may give written notice to IKON specifying the nature of
such breach in reasonable detail, and if within thirty (30) days after IKON’s receipt of such
notice, IKON has not cured or caused to be cured such breach, then without limiting or otherwise
waiving any of its other rights or remedies as may be available in law or in equity including
claims for Damages arising in connection with any Third Party Action or, GE or GECITS may require
IKON to purchase (and IKON shall purchase) (x) such Program Financing Contract or Program Stream
Financing (as applicable) and any related Equipment at a price equal to the Net Book Value thereof,
and/or (y) such Purchased Personal Property Tax Receivable at a price equal to the Repurchase Price
thereof (as applicable), in each case, as of the date of such notice. Upon receipt of such amount,
GECITS shall transfer the applicable Program Financing Contract or Program Stream Financing and any
Equipment subject thereto or the Purchased Personal Property Tax Receivable, to IKON on an “AS-IS,
WHERE-IS” basis, without any representation or warranty whatsoever (other than Agreed Warranties
with respect thereto). Any such repurchase shall occur on a date specified by GE or GECITS, which
date shall not be less than three (3) nor more than thirty (30) days after the expiration of such
30-day period.

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          9.5. Personal Property Tax Reimbursement. In the event that, at any time after the
Original Effective Date, GECITS shall be required to remit to any applicable Governmental Entity,
any payments in respect of property taxes (a) (i) due in respect of Equipment subject to a
Purchased Financing Contract or Program Facilities Management Agreement, the Program FM Stream
Financing in respect of which was purchased by GECITS pursuant to the Asset Purchase Agreement
that, as of the Original Effective Date, constitutes a Property Tax Inclusive Financing Contract
and (ii) due in respect of any period after the Original Effective Date and prior to the end of the
stated contractual term of such Purchased Financing Contract or Program Facilities Management
Agreement (as applicable) or (b)(i) due in respect of Equipment subject to an Acquired Financing
Contract that, as of the Amendment Effective Date, constitutes a Property Tax Inclusive Financing
Contract and (ii) due in respect of any period after the date hereof and prior to the end of the
stated contractual term of such Acquired Financing Contract, then promptly (and in no event later
than ten (10) Business Days) following receipt by IKON of written notice from GE or GECITS of such
payment, IKON shall remit to GECITS the full amounts of any such payments so paid by GECITS. The
provisions of this Section 9.5 shall supersede, in its entirety, the provisions of Section
9.5 of the Existing Program Agreement.

          9.6. Right of Offset. GE and GECITS shall have the right to offset, as against any
amounts owed by it to IKON under this Agreement, any collections that GE, GECITS or an ABS Entity
would have received under the Securitization Documents prior to the Amendment Effective Date but
for the application (pursuant to the “Shared Collections” provisions of the Securitization
Documents) of such collections to pay amounts owing under the Non-Purchased Securitization
Documents.

          9.7. Loss Allocation. Without limiting the rights and obligations of the parties
under Section 9.1 or 9.4, in the event that GECITS is unable to collect or receive
all or any portion of any Purchased Personal Property Tax Receivable within 270 days after the
invoice due date therefor as a result of the related Obligor’s failure or refusal to pay, then an
amount equal to the Repurchase Price for such Purchased Personal Property Tax Receivable shall be
charged to IKON via the Dealer Compensation Report (and IKON shall pay such amount to GECITS),
consistent with GECITS’ and IKON’s past practice; provided, however, that GECITS
will not be obligated to wait for the 270 day period to expire (i) in the event of an upgrade or
other termination of any Program Financing Contract or Program Stream Financing Agreement pursuant
to Section 6.3, (ii) in the event a Program Financing Contract or Program Stream Financing
Agreement becomes a Written-Off Financing Contract, or (iii) with respect to any IKON request to
eliminate any Purchased Personal Property Tax Receivable from a customer’s account, which
terminations and eliminations (in the case of clauses (i) and (iii)) shall be processed through the
Dealer Compensation Report to IKON.

          9.8. Limitation on Damages. No party shall be liable for any Special Damages, for any
reason whatsoever, in connection with this Agreement (including pursuant to this Article
9); provided that (i) the non-payment by Obligors (A) under any Program Financing
Contract of any amounts under and in accordance with any Program Financing Contract or (B) of (1)
any Purchased Property Tax Receivable or (2) any Program Stream Financing Payment or other amounts
payable under any Program Stream Financing Agreement, shall in no event constitute Special Damages
and (ii) any Special Damages required, as a result of a breach by a

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party hereto of this Agreement, to be paid by the other party to this Agreement to any Person
(other than to a party to this Agreement or any of its Affiliates) pursuant to a final judgment or
order arising out of an action or proceeding by such Person shall be deemed to be direct damages to
the party required to pay such Special Damages and shall constitute indemnifiable Damages under
this Agreement.

ARTICLE 10.

FEES; OTHER AGREEMENTS; LOSS POOL

          10.1. Origination Fees. (a) GECITS shall pay to IKON, within five (5) Business Days
after the end of each week during the Term (commencing after the date hereof), the Base Origination
Fee for all Originated Financing Contracts entered into and for all SLG Financing Contracts, IKON
Originated Financing Contracts, Program FM Stream Financings and Program EM Stream Financings
funded by GECITS during such week.

          (b) GECITS shall pay to IKON, within ten (10) Business Days after the end of each calendar
month during the initial five (5) years of the Program (so long as such calendar month occurs
during the Term), the difference of (i) the Volume Origination Fee for the cumulative Funded Volume
(for the period from the Original Effective Date through the end of such month) minus (ii)
the Volume Origination Fee theretofore paid by GECITS in respect of all prior months;
provided that the cumulative Volume Origination Fee with respect to Funded Volume through
the end of such calendar month shall in no event exceed the product of (x) $4,222,500
multiplied by (y) the number of months during the Term that have elapsed through
the end of such calendar month.

          (c) If the cumulative Funded Volume for the initial five (5) years of the Program is greater
than $5 Billion, and the Funded Volume in one or more Program Years during the initial five (5)
years of the Program is greater than $1.9 Billion, then GECITS shall, for each such Program Year in
which Funded Volume is greater than $1.9 Billion, pay to IKON within ten (10) Business Days after
the fifth anniversary of the Original Effective Date, the product of (i) 0.35% multiplied
by (ii) the amount of such Funded Volume in excess of $1.9 Billion for such Program Year.

          10.2. Other Agreements. The provisions of Section 1 of Schedule 1 are
hereby incorporated by reference in their entirety.

          10.3. Rejected Application Fee. If, during any Program Year, the aggregate sales
price of the Equipment subject to Rejected Eligible Financing Contracts syndicated by IKON to any
of Citibank N.A., De Lage Landen International B.V. or Wells Fargo & Company (or any Subsidiary of
the ultimate parent company of any thereof) during such Program Year exceeds $25 Million, then
promptly after notice by IKON to GE of the syndication of any such Rejected Eligible Financing
Contract the aggregate sales price of the Equipment subject thereto (when taken together with the
aggregate sales price with respect to Equipment subject to all Rejected Eligible Financing
Contracts syndicated during such Program Year) shall exceed $25 Million (which notice shall be
accompanied by any supporting documentation reasonably

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requested by GE or GECITS), GECITS shall pay to IKON, on a weekly basis, a fee in respect of
such Rejected Eligible Financing Contract equal to the positive difference (if any) of (a) the Base
Origination Fee that would have been payable by GECITS if the related Rejected Eligible Financing
Contract had been accepted for funding under the Program minus (b) the origination,
syndication or other fee paid (or payable) to any IKON Company in respect of such syndication;
provided that in no event shall the fee payable by GECITS in respect of any such Rejected
Eligible Financing Contract exceed one-third of the Base Origination Fee that would have been
payable by GECITS if the related Rejected Eligible Financing Contract had been accepted for funding
under the Program. In connection with any syndication of a proposed Rejected Eligible Financing
Contract, IKON shall seek to obtain a market-based origination, syndication or similar fee in
respect thereof.

          10.4. [INTENTIONALLY OMITTED.]

          10.5. [INTENTIONALLY OMITTED].

          10.6. Loss Pool. (a) On Original Effective Date there was established a notional loss
pool in an amount equal to the sum of (x) $10 Million (which amount was intended to address IKON’s
concerns with respect to unforeseen economic conditions and/or uncertainty with respect to the
order in which losses shall be realized with respect to the Closing Date IKON Retained Financing
Contracts, as compared to the Purchased Financing Contracts) plus (y) the reserve for
lease/loan loss or lease/loan default set forth on the Final Adjusted Closing Date Schedule in
accordance with the section of the Accounting Principles (each as defined in the Asset Purchase
Agreement) headed “Lease Default Reserves”. There shall be applied against (so as to reduce) such
notional loss pool written-off amounts associated with (i) the Financing Contracts in the Retained
Portfolio (but only to the extent in existence on the Original Effective Date) that shall not have,
as of the Original Effective Date, either reached the end of their contractually stated term or
been written-off (each, a “Closing Date IKON Retained Financing Contract”) and (ii) (A)
Purchased Financing Contracts, (B) from and after the Amendment Effective Date, Acquired Financing
Contracts and (C) Program FM Stream Financings purchased (directly or indirectly) by GECITS from
IKON pursuant to the Asset Purchase Agreement. IKON shall be required to sell to GECITS (on an
“AS-IS, WHERE-IS” basis without representation or warranty other than Agreed Warranties), and
GECITS shall be required to purchase from IKON, any such Closing Date IKON Retained Financing
Contracts and the Equipment subject thereto (to the extent not otherwise sold pursuant to the 2006
Purchase Agreement) at the IKON Net Book Value thereof at the time of such purchase if (i) the
amounts under such Financing Contract are then eligible for write-off under the write-off policy
attached as Exhibit G hereto and (ii) the notional loss pool balance then exceeds the
aggregate amount of the IKON Net Book Value in respect thereof at such time. Except as otherwise
required pursuant to the terms of any Subservicing Agreement or any of the Securitization
Documents, recoveries in respect of written-off Purchased Financing Contracts, Acquired Financing
Contracts, Program FM Financing Streams purchased by GECITS pursuant to the Asset Purchase
Agreement and purchased Closing Date IKON Retained Financing Contracts (and the Equipment subject
thereto) shall be applied as provided in Section 1 of Schedule 1.

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          (b) This Section 10.6 shall have no further force and effect upon any termination or
expiration of the Term and purchase by IKON of GECITS’ interests in the Program Financing
Contracts, Program Stream Financings and ABS Entities.

          10.7. Other Agreements. The provisions of Section 2 of Schedule 1 are
hereby incorporated by reference in their entirety.

ARTICLE 11.

TERM AND TERMINATION

          11.1. Term of Agreement. The Program shall have a five (5) year initial term
commencing on the Original Effective Date, which term shall automatically renew at the end of such
initial term for a further three (3) or five (5) year renewal term (at IKON’s election, to be
exercised not later than one year prior to the end of the initial Term) unless IKON provides to GE
at least one (1) year’s prior written notice of its intent to terminate the Program at the end of
the initial term (the initial five (5) year term, as it may be extended as provided above and/or
terminated pursuant to Section 11.2, the “Term”). In the event that IKON does not
elect to terminate the term of the Program at the end of the initial five (5) year term (and,
consequently, the Term continues beyond such initial five-year period without having been earlier
terminated), GE shall pay to IKON a renewal fee equal to $6 Million on the first Business Day of
the renewal term.

          11.2. Termination Rights.

          (a) GE Termination Rights. GE shall have the right to terminate the Program and
GECITS’ obligation to fund future volume prior to the end of the Term upon the occurrence and
during the continuance of any of the following events (each, a “GE Termination Event”):

               (i) Material Adverse Change of IKON, which means the occurrence of any of the following:

                    (A) The occurrence of any default (after giving effect to any applicable notice or cure
periods) or event of default under any indebtedness of IKON (or any other IKON Company) for
borrowed money (or any indebtedness for borrowed money guaranteed by IKON or any other IKON
Company) in excess of $15,000,000 in the aggregate, or

                    (B) The occurrence of a Bankruptcy Event with respect to IKON.

               (ii) Material, willful and bad faith breach by IKON of any of Sections 3.2,
3.3 or 6.2 of this Agreement, which breach, if curable, is not cured within sixty
(60) days’ written notice thereof from GE, specifying the nature of such breach in reasonable
detail.

               (iii) Material breach by IKON (other than any breach of the type described in Section
11.2(a)(ii) above) (A) of any of Sections 3.2, 3.3 or 6.2 of this
Agreement or

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(B) of material payment obligations of any IKON Company under any of the documentation to be
entered into in connection with the Program (other than as a result of a good faith dispute by IKON
with respect thereto), in each case, which breach, if curable, is not cured within sixty (60) days’
written notice thereof from GE, specifying the nature of such breach in reasonable detail.

          (b) IKON Termination Right. IKON shall have the right to terminate the Program and
GE’s or GECITS’ right of first opportunity prior to the end of the Term upon the occurrence and
during the continuance of any of the following events (each an “IKON Termination Event”):

               (i) Material, willful and bad faith breach by a GE Party of any of Sections 4.1,
4.2, 4.3, 5.3 or 6.3(a) of this Agreement, which breach, if
curable, is not cured within sixty (60) days’ written notice thereof from IKON, specifying the
nature of such breach in reasonable detail.

               (ii) Material breach by a GE Party (other than any breach of the type described in Section
11.2(b)(i) above) (A) of any of Sections 4.1, 4.2, 4.3, 5.3 or
6.3(a) of this Agreement or (B) of material payment obligations of GE under any of the
documentation to be entered into in connection with the Program (other than as a result of a good
faith dispute by GE with respect thereto), in each case, which breach, if curable, is not cured
within sixty (60) days’ written notice thereof from IKON, specifying the nature of such breach in
reasonable detail.

               (iii) A Credit Review Turnaround Failure or a Document Review Turnaround Failure.

          11.3. Consequences of Termination.

          (a) Upon the termination of the Term, pursuant to Section 11.2(b), as a consequence of
the occurrence of an IKON Termination Event, IKON (or a Person designated by IKON) shall be
entitled to purchase or cause a third party to purchase all, but not less than all, of GECITS’
interest in each of (i) the Program Financing Contracts and Program Stream Financings then directly
held by GECITS and the related Equipment for a purchase price equal to the quotient obtained by
dividing (x) the sum of the aggregate Net Book Values of all such Program Financing Contracts and
Program Stream Financings at the time of such purchase plus the aggregate Net Economic
Values of all such Program Financing Contracts and Program Stream Financings at the time of such
purchase by (y) two (2), (ii) the ABS Entities for a purchase price, without double counting any of
the amounts contained in clause (i) above, computed in the same manner as the value of the equity
of the ABS Entities and their related assets are determined under the Asset Purchase Agreement for
purposes of determining the Final Adjusted Closing Date Schedule, except that the Financing
Contracts (and related Equipment) held by the ABS Entities shall be valued at an amount equal to
the quotient obtained by dividing (x) the sum of the aggregate Net Book Values of all such
Financing Contracts at the time of such purchase plus the aggregate Net Economic Values of
all such Financing Contracts at the time of such purchase by (y) two (2) and (iii) the Purchased
Personal Property Tax Receivables for a purchase price equal to the aggregate Repurchase Price in
respect thereof at the time of such purchase.

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                    (A) In the event that IKON purchases (or causes another Person to purchase) the Program
Financing Contracts, Program Stream Financings and ABS Entities held by GECITS as provided in this
Section 11.3(a), (1) IKON and GE shall be required to execute such amendments to the
Securitization Documents and take such other actions as shall be required to cause IKON or one of
its Subsidiaries to be substituted for GE as servicer under such Securitization Documents, (2) GE
shall be required to deliver to IKON true and complete copies of all of the Securitization
Documents (and all amendments, modifications and waivers thereto) entered into by GE at any time
after the Original Effective Date and (3) GE shall be required to reimburse IKON for all reasonable
out-of-pocket costs incurred by IKON in connection with such substitution of servicer.

                    (B) In addition (and irrespective of whether IKON purchases the Program Financing Contracts,
Program Stream Financings, Purchased Personal Property Tax Receivables and ABS Entities as provided
in this Section 11.3(a)), (1) GE shall be required to continue to provide services to IKON
with respect to IKON’s Retained Portfolio on the terms set forth in the Servicing Agreement until
such time as IKON has notified GE that it has engaged a third party to provide such services for
IKON; provided, that in no event shall GE be required to continue to provide such services
to IKON for a period longer than one (1) year following the date of termination of the Program, and
(2) IKON shall use all commercially reasonable efforts, following a termination of the Program as a
result of an IKON Termination Event, to engage a third party to provide such services to IKON with
respect to IKON’s Retained Portfolio.

                    (C) In the event that the Program is terminated by IKON, pursuant to Section 11.2(b),
as a result of the occurrence of an IKON Termination Event, IKON shall be entitled to payment by GE
of (and GE shall be required to pay to IKON within ten (10) Business Days after such termination of
the Program) the Program Termination Fee.

          (b) At the end of the Term, other than as a consequence of a GE Termination Event or an IKON
Termination Event pursuant to Section 11.2(a) or 11.2(b) respectively:

               (i) GE shall be required to continue to provide services with respect to IKON’s Retained
Portfolio on the terms set forth in the Servicing Agreement until such time as IKON has notified GE
that it has engaged a third party to provide such services for IKON; provided, that in no
event shall GE be required to continue to provide such services to IKON for a period longer than
one (1) year following the date of termination of the Program,

               (ii) IKON shall use all commercially reasonable efforts, following the expiration of the Term,
to engage a third party to provide such services to IKON with respect to IKON’s Retained Portfolio,
and

               (iii) IKON shall be required to reimburse GE for all severance, facility, wind-down and
similar costs incurred by GE, VFS Macon or any of their Affiliates in connection with the wind-down
of the Program operations during the one-year period following such termination of the Term.

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          (c) Upon the termination of the Term, pursuant to Section 11.2(a), as a consequence of
the occurrence of a GE Termination Event:

               (i) IKON shall be required to reimburse GE for all severance, facility, wind-down and similar
costs incurred by GE, VFS Macon or any of their Affiliates in connection with the wind-down of the
Program operations during the one-year period following such termination of the Term.

               (ii) (A) GE shall be required to continue to provide services with respect to IKON’s Retained
Portfolio on the terms set forth in the Servicing Agreement until such time as IKON has notified GE
that it has engaged a third party to provide such services for IKON; provided, that in no
event shall GE be required to continue to provide such services to IKON for a period longer than
one (1) year following the date of termination of the Program and (B) IKON shall use all
commercially reasonable efforts, following the termination of the Program as a consequence of a GE
Termination Event, to engage a third party to provide such services to IKON with respect to IKON’s
Retained Portfolio.

               (iii) GE shall be entitled to payment by IKON of (and IKON shall be required to pay to GE
within ten (10) Business Days after such termination of the Program) the Program Termination Fee.

          (d) If IKON elects to purchase the Program Financing Contracts, Program Stream Financings,
Purchased Personal Property Tax Receivables and ABS Entities from GECITS pursuant to Sections
11.3(a) above, then:

               (i) IKON shall provide written notice to GE of such election within 90 days of the effective
date of such termination of the Term, setting forth a date for such purchase, which date shall not
be less than ten (10) nor more than fifteen (15) Business Days after GE’s receipt of such notice.

               (ii) On the date specified in the notice referred to in Section 11.3(d)(i), (A) IKON
shall purchase from GECITS (by transferring to GECITS, in immediately available funds, all amounts
required to be paid by it pursuant to Section 11.3(a) above) and (B) GECITS shall sell,
transfer and assign to IKON, and IKON shall purchase from GECITS, all such Program Financing
Contracts, Program Stream Financings, Purchased Personal Property Tax Receivables, equity interests
in the ABS Entities and all related Equipment on an “AS-IS, WHERE-IS” basis, without recourse,
representation or warranty of any kind, other than Agreed Warranties.

          (e) Notwithstanding any of the foregoing, the rights and obligations of IKON, GE and GECITS
described in Sections 5.2, 5.3, 5.7(a)(iv), 5.13(e),
6.1(b), 6.1(d), 6.1(f), 6.2, 6.3(a)(ii), 8.3(a),
8.3(e), 8.5(a), 8.5(c), Article 9, Section 10.2 (solely to
the extent applicable to Sections 1(a), 1(b) and 1(c) of Schedule
1), 10.4 and Sections 1(a), 1(b) and (c) of Schedule 1
shall survive any termination of the Program under this Article 11, unless IKON (or an
entity designated by IKON) elects to and does purchase all of the Program Financing Contracts,

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Program Stream Financings, Purchased Personal Property Tax Receivables and equity interests in
the ABS Entities from GECITS pursuant to the purchase options described in Section 11.3.

          (f) Upon the termination of the Program for any of the reasons provided above and the purchase
by IKON (or a third party) of all of the Program Financing Contracts, Program Stream Financings,
Purchased Personal Property Tax Receivables and interests in the ABS Entities held by GECITS, IKON
shall have the right to cause GE and GECITS to provide to IKON, for a reasonable fee to be agreed
by GE and IKON, (i) the necessary information, files, records and electronic data feeds to
transition the servicing of such Program Financing Contracts, Purchased Personal Property Tax
Receivables and Program Stream Financings to IKON’s platform, and (ii) a continuation of the
servicing of such Program Financing Contracts, Purchased Personal Property Tax Receivables and
Program Stream Financings, in each case, pursuant to a transition services agreement mutually
acceptable to IKON and GE. In no event shall GE be required to perform for IKON any services
pursuant to such transition services agreement for a period longer than one (1) year (it being
agreed that if IKON shall terminate GE’s servicing of the Program Financing Contracts prior to the
end of such one year period, GE shall not be required to continue to provide services to IKON with
respect to the IKON Retained Portfolio pursuant to Section 11.3(a)(B), 11.3(b)(i)
or 11.3(c)(iii) beyond such earlier termination date.

ARTICLE 12.

MISCELLANEOUS

          12.1. Confidentiality. (a) Any non-public and proprietary business strategies or
business plans of any IKON Company that is identified by IKON as confidential or proprietary in
nature (whether oral, written or otherwise) and provided by IKON or any of its Affiliates or
representatives to GE in connection with the Program (and any analyses, notes, compilations or
other information incorporating such information), and any non-public and proprietary business
strategies or business plans of GE or any of its Affiliates that is identified by GE as
confidential or proprietary in nature (whether oral, written or otherwise) and provided to IKON or
any of its Affiliates or representatives (and any analyses, notes, compilations or other
information incorporating such information) (such confidential or proprietary information of a
party is referred to as such party’s “Confidential Information”), shall be held in
confidence by the receiving party to at least the same extent that and in at least the same manner
as such receiving party protects its own confidential or proprietary information, but in any event
to an extent and in a manner that is at least commercially reasonable. A receiving party shall
not, without the other party’s prior written approval, (x) disclose Confidential Information of the
other party to any other Person or (y) use Confidential Information for any purpose whatsoever,
other that in connection with the Program and the transactions contemplated thereby.
Notwithstanding the foregoing, Confidential Information may be disclosed: (i) to GE’s and its
Affiliates’ or IKON’s or its Subsidiaries’ respective directors, officers, employees,
representatives, accountants, counsel or special counsel who the receiving party determines should
know or have access to such information and who have been instructed or have a duty to keep such
information confidential in accordance with the terms hereof; (ii) to the extent that such
disclosure is reasonably necessary to permit the receiving party to perform its duties and its
obligations under this Agreement or any GE Operative Agreement or IKON Operative Agreement (as
applicable);

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(iii) to such other Persons who are reasonably deemed necessary by GE and IKON, as the case
may be, in connection with the enforcement of their rights under this Agreement or any GE Operative
Agreement or IKON Operative Agreement (as applicable); (iv) by GE or its Affiliates (A) to
potential investors, purchasers or financing sources in connection with any actual or proposed sale
or syndication of a Program Financing Contract or Program Financing Stream or any participation or
interest therein or (B) to the extent required or appropriate to be disclosed in response to a
reasonable request by rating agencies or underwriters in connection with financing transactions
undertaken by GE or its Affiliates, who agree or are under a duty to hold such information
confidential in accordance with the terms hereof; (v) by IKON or its Subsidiaries to the extent
required or appropriate to be disclosed in response to a reasonable request by rating agencies or
underwriters in connection with financing transactions undertaken by IKON or its Subsidiaries (as
borrower or obligor), who agree or are under a duty to hold such information confidential in
accordance with the terms hereof; and (vi) to the extent required pursuant to applicable Law or by
any Governmental Entity (including, but not limited to, the Internal Revenue Service, state taxing
authorities, the Commission or federal or state judicial authorities); provided that if a
receiving party becomes obligated pursuant to any Order or subpoena to disclose any Confidential
Information of the other party, then the receiving party shall promptly provide the other party
with written notice thereof (including the circumstances relating to such obligation and the
information sought to be disclosed) so as to permit the other party (at its sole discretion) seek a
protective order or other appropriate remedy, and the receiving party shall cooperate reasonably
with the other party in its efforts in connection therewith.

          (b) The provisions of Section 12.1(a) shall not apply to any information which (i) is
or becomes available to the public other than as a result of a breach by a receiving party or any
of its Affiliates of the provisions of this Section 12.1; (ii) was known to the receiving
party on a non-confidential basis prior to the time the receiving party obtained such information
from the other party, and such knowledge was obtained by the receiving party from sources that are
not known to the receiving party to be in violation of any legal or contractual obligation to the
disclosing party by disclosing such information to the receiving party (a “Permitted
Source”); (iii) becomes available to the receiving party on a non-confidential basis from a
source, other than the other party or its Affiliates, that is a Permitted Source; or (iv) is
independently developed by the receiving party without violating any obligation under this
Section 12.1.

          (c) In addition, GE and GECITS further agree not to disclose to any Person set forth on
Annex E (or any person which GE knows to be a Subsidiary or Affiliate thereof) (i) any
information provided to them by IKON or another IKON Company (whether electronically or in writing)
in the form of customer lists of IKON, IKON customer business plans or strategies, proprietary
pricing information or plans, or strategic alliance or joint venture agreements or (ii) any
analyses, notes, compilations or other information of GE or GECITS incorporating any of the
information referred to in clause (i) above. Any information of the type described in clause (i)
or (ii) above shall be treated as Confidential Information for purposes of the last sentence of
Section 12.1(a) and for purposes of Section 12.1(b).

          (d) The agreements set forth in this Section 12.1 shall survive the expiration or
termination of the Term for a period of two (2) years.

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          12.2. Amendments. This Agreement may be amended, modified, superseded or canceled,
and any of the terms, covenants, representations, warranties or conditions hereof may be waived,
only by an instrument in writing signed by each of the parties hereto or, in the case of a waiver,
by or on behalf of the party waiving compliance.

          12.3. Integrated Contract. Except for the Confidentiality Agreement, the Servicing
Agreement, the Services Agreement, the Subservicing Agreements, the Trademark License Agreement,
the Federal Assignment Agreement and the Marketplace Servicing Agreement, this Agreement, and any
written amendments to this Agreement satisfying the requirements of Section 12.2: (i)
constitute the entire agreement between IKON, GE and GECITS with respect to the subject matter
hereof or thereof, and (ii) supersede and replace all correspondence, understandings and
communications between the parties hereto with respect to the transactions contemplated by this
Agreement.

          12.4. Governing Law. This Agreement and the legal relations between the parties
hereto arising hereunder shall be governed by and construed in accordance with the Laws of the
State of New York, without regard to the principles regarding the choice of Law.

          12.5. Notices. Any notices or other communications required or permitted hereunder
shall be sufficiently given if sent by registered mail or certified mail, postage prepaid, by
overnight courier service, or by telecopy or other written form of electronic communication:

If to IKON, at:

IKON OFFICE SOLUTIONS, INC.

70 Valley Stream Parkway

Valley Forge, PA 19355

Facsimile: (610) 408-7264

Attention: General Counsel

with a copy to:

CRAVATH, SWAINE & MOORE LLP

825 Eighth Avenue

New York, NY 10019

Facsimile: (212) 474-3700

Attention: Richard Hall, Esq.

and if to GE or GECITS, at:

GENERAL ELECTRIC CAPITAL CORPORATION

10 Riverview Drive

Danbury, Connecticut 06810

Facsimile: (203) 749-4534

Attention: General Counsel

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and

GENERAL ELECTRIC CAPITAL CORPORATION

260 Long Ridge Road

Stamford, Connecticut 06927

Facsimile: (203) 602-9305

Attention: General Counsel, GE Commercial Finance

with a copy to:

WEIL, GOTSHAL & MANGES LLP

767 Fifth Avenue

New York, New York 10153

Facsimile: (212) 310-8007

Attention: Jane Mcdonald, Esq.

or to such other address as shall be furnished in writing by GE or GECITS (on the one hand) or IKON
(on the other hand), to the others, and any such notice or communication shall be deemed to have
been given as of the date so mailed, dispatched or transmitted (except that a notice of change of
address shall not be deemed to have been given until received by the addressees). Failure or delay
in delivering any notice, demand, request, consent, approval, declaration or other communication to
any Person designated to receive a copy thereof shall in no way adversely affect the effectiveness
of such notice, demand, request, consent, approval, declaration or other communication to the
primary recipient.

          12.6. No Assignment. This Agreement may not be assigned, except by operation of law;
provided, however, that each of GE and GECITS may assign its rights hereunder to
one or more of its Affiliates and may, subject to Section 5.9, assign its rights in respect
of one or more Financing Contracts and related Equipment to any Person. No assignment otherwise
permitted hereunder shall, without the written consent of IKON, relieve GE or GECITS from any of
its liabilities hereunder. Nothing contained in this Section 12.6 shall limit or impair in
any manner any of GE’s, GECITS’ or IKON’s rights under and pursuant to Section 5.9.

          12.7. Headings. The descriptive headings of the several Articles and Sections of this
Agreement are inserted for convenience only and do not constitute a part of this Agreement.

          12.8. Counterparts. This Agreement may be executed in one or more counterparts, all
of which shall be considered one and the same agreement, and shall become effective when one or
more counterparts have been signed by each party hereto and delivered to the other parties hereto.

          12.9. Announcements. GE and IKON agree to consult with each other prior to issuing
any press release or otherwise making any public statement with respect to the transactions
contemplated hereby, and shall not issue any such press release or make any such public statement
prior to such consultation and without the prior consent of the other party

70

 

(which consent shall not be unreasonably withheld or delayed), except as may be required by
any Law or pursuant to any listing agreement with any securities exchange or any stock exchange
regulations.

          12.10. Severability. If at any time subsequent to the date hereof, any provision of
this Agreement shall be held by any court of competent jurisdiction to be illegal, void or
unenforceable, such provision shall be of no force and effect, but the illegality or
unenforceability of such provision shall have no effect upon, and shall not impair the
enforceability of, any other provision of this Agreement.

          12.11. Binding Effect. This Agreement and the covenants, terms and conditions set
forth herein shall be binding upon and shall inure to the benefit of the parties hereto and their
respective successors and permitted assigns.

          12.12. Waiver of Jury Trial. EACH OF THE PARTIES HERETO KNOWINGLY, VOLUNTARILY AND
INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED
HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY EXHIBIT HERETO, OR
ANY COURSE OF CONDUCT, COURSE OF DEALING OR STATEMENTS (WHETHER VERBAL OR WRITTEN) RELATING TO THE
FOREGOING. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES HERETO TO ENTER INTO THIS
AGREEMENT.

          12.13. Exclusive Jurisdiction. Except as otherwise expressly provided in this
Agreement, the parties hereto agree that any Action seeking to enforce any provision of, or based
on any matter arising out of or in connection with, this Agreement or the transactions contemplated
hereby shall be brought in the United States District Court for the Southern District of New York
or any other New York State court sitting in New York City, and each of the parties hereby consents
to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such
Action and irrevocably waives, to the fullest extent permitted by Law, any objection which it may
now or hereafter have to the laying of the venue of any such Action in any such court or that any
such Action which is brought in any such court has been brought in an inconvenient forum. Each
party agrees that service of process on such party as provided in Section 12.5 shall be
deemed effective service of process on such party. Notwithstanding anything to the contrary in
this Agreement, each party shall submit at all times to personal jurisdiction in the State of New
York.

          12.14. No Third Party Beneficiary. This Agreement is not intended and shall not be
construed to confer upon any Person other than the parties hereto any rights or remedies hereunder
except that the parties hereto agree and acknowledge that the agreements and covenants contained in
Article 9 are intended for the benefit of the indemnitees referred to therein (each such
Person, a “Third Party Beneficiary”), and that each such Indemnitee, although not a party
to this Agreement, shall be and is hereby constituted a direct and irrevocable third party
beneficiary of the agreements and covenants contained in Article 9 and shall have the right
to enforce such agreements and covenants against the applicable party thereto in all respects fully
and to the same extent as if such Third Party Beneficiary were a party hereto. Notwithstanding

71

 

the foregoing, this Agreement (including Article 9) may be amended or waived by GE,
GECITS and IKON at any time and from time to time in accordance with Section 12.2 and any
such amendment or waiver shall be fully effective with respect to the rights of the Third Party
Beneficiaries under Article 9.

          12.15. Expenses. Except as otherwise specifically set forth in this Agreement, IKON
(on the one hand) and GE and GECITS (on the other hand) will each be responsible for the payment of
their own respective costs and expenses incurred in connection with the negotiations leading up to,
and the performance of, their respective obligations pursuant to this Agreement.

          12.16. Misdirected Payments or Communications.

          (a) In the event that GE, GECITS or IKON receives any payment from a third party which is
properly due to the other party, such receiving party shall, promptly upon becoming aware of such
receipt, remit or cause to be remitted such payment to the appropriate Person. Such payment shall
at all times be the property of the party to whom it is properly due and shall be held in trust for
such Person’s benefit until remitted to such Person.

          (b) In the event that GE, GECITS or IKON receives any communication from a third party which
should have been properly delivered to the other party, such receiving Party shall, promptly upon
becoming aware of such receipt, deliver or cause to be delivered such communication to the
appropriate Person.

          12.17. Representation by Counsel; Interpretation. The parties hereto have
participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity
or question of intent or interpretation arises, this Agreement shall be construed as if drafted
jointly by the parties hereto and no presumption or burden of proof shall arise favoring or
disfavoring any party by virtue of the authorship of any provisions of this Agreement.

          12.18. No Partnership. Nothing contained in this Agreement shall be construed to
constitute the creation of a partnership, joint venture, employment, fiduciary or similar
relationship between the parties for any purposes, or to characterize IKON, GE or GECITS or any of
their respective Affiliates as partners, or as joint venturers or as the agent of the other party
for any purposes. It is the intention of GE, GECITS and IKON that (i) GECITS be the sole owner of
any Equipment subject to any Program Financing Contract or related to any Program Stream Financing
financed by GECITS through the Program and (ii) IKON be the sole owner of any Equipment the
Financing Contract in respect of which is being billed, collected and administered by GE pursuant
to the Servicing Agreement. None of GE, GECITS or IKON shall take any position inconsistent with
this characterization. IKON, GE and GECITS and each of their respective Affiliates shall at all
times remain independent contractors with respect to this Agreement and the Program.

          12.19. Further Assurances. Upon the reasonable written request of any of IKON, GE or
GECITS, the other parties shall make, execute or endorse, acknowledge, and file or deliver to the
requesting party, from time to time such schedules, confirmatory assignments,

72

 

conveyances, transfer endorsements, certificates, reports and other assurances or instruments
and take such further steps relating to any Financing Contract or Program Stream Financing or any
related Equipment as the requesting party shall have reasonably requested. Any Person making a
request under this Section 12.19 shall bear the reasonable costs and expenses incurred by
the Person to whom such request is made in connection with such Person’s compliance with such
request.

          12.20. Effect of Amendment and Restatement.

          (a) On the Amendment Effective Date, the Existing Agreement shall be amended and restated in
its entirety by this Agreement and the Existing Agreement shall thereafter be of no further force
and effect except to evidence (i) the representations and warranties of the parties hereto prior to
the Amendment Effective Date and (ii) any action or omission performed or required to be performed
pursuant to such Existing Agreement prior to the Amendment Effective Date. The amendments and
restatements set forth herein shall not cure any breach thereof existing prior to the Amendment
Effective Date.

          (b) This amendment and restatement is limited as written and is not a consent to any other
amendment, restatement or waiver, whether or not similar and, except as expressly provided herein.

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective duly authorized representatives as of the date set forth above.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GENERAL ELECTRIC	 	 	 	GE CAPITAL INFORMATION
	CAPITAL CORPORATION	 	 	 	TECHNOLOGY SOLUTIONS, INC.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	 	 	 	 	Name:	 	 	 	 	 	 
	 

	 	Title:
	 	 	 	 	 	Title:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	IKON OFFICE SOLUTIONS, INC.	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 	 	 	 	 	 	 	 	 

[Signature Page to Program Agreement]

 

 

Annex A

Program Agreement Definitions

          I. Capitalized Terms. As used herein, the following terms shall have the meanings
set forth below.

          “2006 Purchase Agreement” has the meaning assigned to such term in the recitals
hereof.

          “ABS Entities” means IKON Receivables, LLC, IKON Receivables-1, LLC and from and after
the Amendment Effective Date, IKON Receivables Funding, LLC and IKON Receivables-2, LLC.

          “Accounting Principles” has the meaning assigned to such term in the Asset Purchase
Agreement.

          “Acquired Financing Contract” has the meaning ascribed to the term “Purchased
Financing Contract” in the 2006 Purchase Agreement.

          “Acquiring Company” has the meaning assigned to such term in Section 8.3(g).

          “Action” means any action, complaint, investigation, petition, suit or other
proceeding, whether civil, criminal or administrative or in law or in equity, by or before any
arbitrator or Governmental Entity.

          “Administration Fees” has the meaning assigned to such term in Section 1.1(b).

          “Affiliate” means, with respect to any Person, any other Person that directly or
indirectly through one or more intermediaries Controls, or is Controlled by, or is under common
Control with, such Person.

          “Agreed Warranty” means (a) with respect to GECITS’ interest in any Purchased Personal
Property Tax Receivable, Program Financing Contract or Program Stream Financing, that GECITS is
transferring good and valid title to such interest free and clear of all liens (other than those
arising through an IKON Company), (b) with respect to GECITS’ interest in any Equipment, that
GECITS is transferring to IKON such title thereto as IKON conveyed to GECITS under this Agreement
or the Asset Purchase Agreement, free and clear of all liens arising through GECITS after the
Transfer Date with respect thereto (other than (i) any lien for taxes not yet due and payable, (ii)
any mechanic’s or materialmen’s lien, which a lessee or borrower under the related Program
Financing Contract or Program Stream Financing Agreement is required to remove, (iii) any other
lien on the lessee’s or borrower’s interest in such Equipment which is permitted in accordance with
the terms of the applicable Program Financing Contract or Program Stream Financing Agreement, (iv)
with respect to the Equipment, the interest of a Customer under the related Program Financing
Contract or Program Stream

i

 

Financing Agreement, (v) any grant of an interest in or right to purchase such Equipment to
the related Customer (or any Affiliate thereof) in connection with the related Program Financing
Contract or Program Stream Financing Agreement, (vi) any liens arising through the related Customer
(or any Affiliate thereof), or (vii) any agreement to transfer Equipment in connection with any
foreclosure or repossession, and/or remarketing, thereof) and (c) with respect to the equity
interests in the ABS Entities, (i) that GECITS is transferring good and valid title to such equity
interest to IKON free and clear of all liens (other than those arising through an IKON Company) and
(ii) each of the representations and warranties set forth on Annex D.

          “Agreement” means this Amended and Restated Program Agreement and all exhibits,
annexes and schedules hereto (as the same may be amended or modified from time to time).

          “Allocation Policy” has the meaning assigned to such term in Section 5.1(a).

          “Amendment Effective Date” means April 1, 2006.

          “Application” means any request, delivered to GE by IKON pursuant to Section
5.5 hereof, to establish or increase a credit line for a Customer.

          “Application Methodology” has the meaning assigned to such term in Section
5.2.

          “Asserted Service Failure” has the meaning assigned to such term in Section
6.1(a)(ii).

          “Asset Purchase Agreement” means the Asset Purchase Agreement, dated December 10,
2003, among GE, IOS Capital and IKON (as the same may be amended or modified from time to time).

          “Assumed Name” means each of “IKON Financial Services”, “IKON Office Solutions” and
“IKON Management Services”.

          “Bankruptcy Event” means, with respect to any Person, (i) the commencement by such
Person of a voluntary case under, or the consent by such Person to the entry of a decree or order
for relief in an involuntary case under, any federal, state or foreign bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium, or other similar law now or hereafter in effect
or (ii) the consent by such Person to the appointment of, or taking possession by, a receiver,
conservator, custodian, liquidator, assignee, trustee or sequestrator (or other similar official)
of such Person or of any substantial part of its Property or (iii) the making of a general
assignment by such Person generally to pay its debts for the benefit of creditors or (iv) the
admission in writing of such Person of its inability to pay its debts as they become due in the
ordinary course of business or (v) the commencement of liquidation or dissolution of such Person or
(vi) the adoption of a resolution by its directors or shareholders in furtherance of any of the
foregoing or (vii) a case or proceeding shall have been commenced against such Person in a court of
competent jurisdiction seeking (A) a decree or an order for relief in respect of such Person under
any bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium, or

ii

 

other similar law now or hereafter in effect or (B) the appointment of a receiver,
conservator, custodian, liquidator, assignee, trustee or sequestrator (or other similar official)
of such Person or of any substantial part of its Property or (C) the ordering of the winding up or
liquidation of its affairs and (in the case of this clause (vii)) the continuance of such case or
proceeding unstayed and in effect for a period of sixty (60) days.

          “Bankruptcy Exception” means, with respect to any agreement, contract or commitment,
any limitation thereon imposed by any bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium or similar law affecting creditors’ rights and remedies generally and,
with respect to the enforceability thereof, by general principles of equity.

          “Base Equipment Service Payment” means, (a) with respect to any Program Financing
Contract or Program Stream Financing Agreement (other than any Federal Contract, the Equipment,
Program Federal Stream Financing and Purchased Assets subject or related to which are transferred
by IKON to GECITS prior to the Federal Program Integration Date), that portion of the Minimum
Periodic Payment thereunder deemed, as between GE and IKON and in accordance with Section
5.1, to be allocable to IKON’s Equipment Service Obligations thereunder and (b) with respect to
any Federal Financing Contract, the Equipment, Program Federal Stream Financing and Purchased
Assets subject or related to which are transferred by IKON to GECITS prior to the Federal Program
Integration Date, has the meaning assigned to such term in the Federal Assignment Agreement.

          “Base Origination Fee” with respect to any Originated Financing Contract, IKON
Originated Financing Contract, SLG Financing Contract, Program FM Stream Financing or Program EM
Stream Financing means an amount equal to the product of (a) the sum of (x) the Purchase Price of
the Equipment (other than Non-Core Equipment) subject or related to such Originated Financing
Contract, IKON Originated Financing Contract, SLG Financing Contract, Program FM Stream Financing
or Program EM Stream Financing plus (y) the purchase price of required to be paid by GECITS
to any third party supplier thereof in connection with the purchase of any Non-Core Equipment
subject or related to such Originated Financing Contract, IKON Originated Financing Contract, SLG
Financing Contract, Program FM Stream Financing or Program EM Stream Financing, multiplied
by (b) 3%.

          “Bundled Financing Contract” means (i) each Program Financing Contract or Federal
Financing Contract in respect of which, in accordance with the Allocation Policy, the Minimum
Periodic Payment thereunder is allocable, in part, to the lease or rental of the related Equipment
and, in part, to the Equipment Service Obligations of IKON in respect of such Equipment, (ii) each
Program Facilities Management Agreement and (iii) each Program Equipment Management Agreement.

          “Business as Usual” means the level of care, observation, diligence and performance
consistent with that exercised by IOS Capital (immediately prior to the Pre-Closing Merger) in
connection with the Purchased Financing Contracts, except to the extent the parties agree in
writing otherwise.

iii

 

          “Business Day” means any day other than a Saturday, Sunday or other day on which banks
are authorized or required to close in New York City.

          “Closing Date IKON Retained Financing Contract” has the meaning assigned to such term
in Section 10.6.

          “Code” means the Internal Revenue Code of 1986, as amended.

          “Commissioned Rates” means an additional charge, expressed as a percentage, determined
by IKON to be added to the rates set forth in the GE Rate Sheets and (when so added to the rates
set forth in the GE Rate Sheets) utilized to determine the rates to Customers to be offered by
IKON’s sales force in connection with the leasing and financing of Equipment pursuant to the
Program.

          “Comparable Contracts” has the meaning assigned to such term in Section 5.13.

          “Confidentiality Agreement” means that certain confidentiality agreement, dated May
23, 2003, between GE and IKON.

          “Confirmation of Acceptance” with respect to any Equipment means (a) any written
statement, in form and substance satisfactory to GE, of an Obligor that such Equipment has been
accepted by such Obligor in connection with the related Program Financing Contract or Program
Stream Financing, or (b) any telephone confirmation by the applicable Obligor, satisfactory to GE,
that such Equipment has been accepted by such Obligor in connection with the related Program
Financing Contract or Program Stream Financing.

          “Control” means, with respect to any Person, the indirect or direct possession of the
power to direct or cause the direction of the management and policies of such Person, whether
through the ownership of voting securities, by contract or otherwise; provided,
however, that (without limiting the generality of the foregoing) any Person directly or
indirectly owning at least fifty percent (50%) of the equity interests or fifty percent (50%) of
any class of voting securities of any other Person shall be deemed to Control such other Person.
“Controlled” shall have a correlative meaning.

          “CPC Payment” has the meaning assigned to such term in Section 1.1.

          “CPI Charges” has the meaning assigned to such term in Section 1.1.

          “Credit Approval Period” means, (a) with respect to any Application for a Customer
(other than the United States Government) for a line of credit (whether or not in respect of a
proposed Originated Financing Contract, IKON Originated Financing Contract, SLG Financing Contract,
Program FM Stream Financing or Program EM Stream Financing), four (4) business hours if such credit
line for such Customer is Score Card Eligible, and (b) otherwise two (2) Business Days (it being
agreed that prior to the Federal Program Integration Date, the Credit Approval Period shall not be
applicable to, and shall not be measured in respect of, any Application for a Customer that is the
United States Government).

iv

 

          “Credit Approval Policy” means the policy attached as Exhibit B hereto, as the
same may be amended or modified from time to time by GE in accordance with this Agreement.

          “Credit Enhancement” means any Property pledged, assigned, mortgaged, made, delivered
or transferred as security for the performance of any obligation under or with respect to any
Program Financing Contract or Program Stream Financing.

          “Credit Review Turnaround Failure” means the failure by GE, for at least two (2)
consecutive calendar quarters that commence 90 days or more after the Original Effective Date, to
both (a) approve, conditionally approve or reject at least 90% of all Applications submitted by
IKON within the applicable Credit Approval Period, and (b) satisfy its obligations to IKON under
Section 5.5(a).

          “Credit Revocation Cutoff Date” with respect to a GE Termination Event of the type
described in Section 11.2(a)(ii) or 11.2(a)(iii), means the 60th day after the date
that GE and GECITS shall have been notified or otherwise shall have become aware of the occurrence
of such GE Termination Event unless, prior to such 60th day, GE shall have notified IKON in writing
that it desires to extend such Credit Revocation Cutoff Date to a date (as determined by GE and
specified in such notice) that is not more than 120 days after the occurrence of such event (in
which case the Credit Revocation Cutoff Date with respect such event shall be the date specified in
the notice of extension).

          “Customer” means a customer of an IKON Company that desires to acquire, or has
acquired (including by rental or lease), any Equipment from an IKON Company pursuant to a Financing
Contract or a proposed Financing Contract and any guarantor of the obligations of such customer;
provided, however, that a Customer shall not include any Person acquiring such
Equipment for personal, family, household or agricultural use or for resale.

          “Damages” means any loss (including liquidated damages), liability, judgment,
settlement, award (including back-pay awards), claim, cost, damage, deficiency, Tax, penalty, fine
or expense, whether or not arising out of third party claims (including interest, penalties,
reasonable attorneys’ fees and expenses, court costs and all reasonable out-of-pocket amounts paid
in investigation, defense or settlement of any of the foregoing and enforcement of any rights of
indemnification against any Indemnitor or with respect to any appeal). “Damages” shall not
include Special Damages (other than any Special Damages required to be paid by an Indemnitee to any
Person (other than to a party to this Agreement or any of its Affiliates), which Special Damages
shall be deemed to be direct losses of the Person required to pay such Special Damages).

          “Dealer Compensation Report” has the meaning assigned to such term in the Services
Agreement.

          “Defaulted Equipment” means Equipment which (a) has been sold, re-leased or otherwise
disposed of by GE or IKON and (b) was, at the time of such sale or disposition, subject to a
Written-Off Financing Contract.

v

 

          “Deferred Purchase Price” means, with respect to any Purchased Personal Property Tax
Receivables purchased or to be purchased by GECITS on any Transfer Date, the amount of personal
property tax reimbursement payments owed by the related Obligor: (i) in respect of personal
property or ad valorem taxes that have been paid by IKON to the relevant taxing jurisdiction prior
to such Transfer Date and (ii) that have been uploaded into the IKONICS system as of such Transfer
Date and are contemplated to be, in the ordinary course, billed to the applicable Obligor during
the 90-day period following such Transfer Date.

          “Designee” means a GE Designee or an IKON Designee, as the case may be.

          “Determination Period” means, with respect to any Program Financing Contract or
Program Stream Financing Agreement included in any listing, delivered to IKON in accordance with
Section 6.1(b)(iii), of delinquent Program Financing Contracts or Program Stream Financing
Agreements in respect of which the Obligors thereunder have asserted an Asserted Service Failure as
a reason for non-payment thereunder, (a) the period commencing on the date GE delivers such listing
and ending 90 days thereafter (or, if IKON notifies GE prior to the end of such 90-day period that
it is still pursuing such Obligor’s assertions towards a satisfactory resolution with such Obligor,
120 days after receipt of any such listing), with respect to any Program Financing Contract or
Program Stream Financing Agreement that is not a Performance Cancellation Contract and (b) the
shorter of (x) any applicable notice period provided for in such Program Financing Contract or
Program Stream Financing Agreement (as applicable) and (y) the 90 or 120 day period referred to in
clause (a) above, in each case, with respect to any Program Financing Contract or Program Stream
Financing Agreement that is a Performance Cancellation Contract.

          “Dispute” has the meaning assigned to such term in Section 4.1(b)(ii).

          “Discount Rate” with respect to (a) an Originated Financing Contract, IKON Originated
Financing Contract, SLG Financing Contract, Program FM Stream Financing or Program EM Stream
Financing originated after the Original Effective Date, means a rate equal to the sum of the
applicable like term swap rate for AAA rated companies as of the date such Originated Financing
Contract, IKON Originated Financing Contract, SLG Financing Contract or Program Stream Financing
(as applicable) is funded by GE plus an incremental amount (expressed as a percentage)
included in the rates set forth in the GE Rate Sheets (as in effect on the date such Originated
Financing Contract, IKON Originated Financing Contract, SLG Financing Contract or Program Stream
Financing is funded by GE) that is applicable to such Originated Financing Contract, IKON
Originated Financing Contract, SLG Financing Contract or Program Stream Financing based on the
transaction size, Obligor credit rating under the Credit Approval Policy then in effect (as
determined by GE), term, Equipment type and other factors with respect thereto, (b) a Program
Federal Stream Financing transferred to GECITS prior to the Federal Program Integration Date, has
the meaning set forth in the Federal Assignment Agreement, (c) a Purchased Financing Contract or
Program FM Stream Financing purchased by GECITS pursuant to the Asset Purchase Agreement, means the
“buy-rate” for such Purchased Financing Contract or Program FM Stream Financing (as applicable)
reflected in the books and records of IOS Capital (immediately prior to the Pre-Closing Merger) and
(d) an

vi

 

Acquired Financing Contract, means the “buy-rate” for such Acquired Financing Contract
reflected in the books and records of IKON.

          “Disposed Financing OEC Amount” for any Program Year, as of any time, means (without
duplication of any amounts) the aggregate Original Equipment Cost of all Equipment subject to
Program Financing Contracts, Program Stream Financing Agreements or Financing Contracts in the
Retained Portfolio which has, as of such time, been cancelled or terminated (whether in connection
with the expiration of the term thereof, a Customer buyout, an upgrade or otherwise, and whether
prior to, upon or following the stated contractual term thereof) during such Program Year (it being
understood that any Financing Contract in any extension or renewal term or in month-to-month after
the end of the contractually stated term shall not be deemed to have been cancelled or terminated
solely as a result of such extension, renewal or month-to-month status).

          “Document Package” has the meaning assigned to such term in Section 5.5(b).

          “Document Review Turnaround Failure” means the failure by GE, for at least two (2)
consecutive calendar quarters that commence 90 days or more after the Original Effective Date, to
both (a) respond (including by approving, conditionally approving or rejecting) within three (3)
Business Days to proposed changes to Standard Form Documentation submitted by IKON in respect of at
least 90% of the proposed Originated Financing Contracts, IKON Originated Financing Contract and
SLG Financing Contracts, in the aggregate, submitted to GE during such quarter and (b) satisfy its
obligations under Section 5.4(b)(ii).

          “Equipment” means any office equipment, intangible property, periodic software
licenses, prepaid data subscription rights or office furnishings and related services sold or
distributed by IKON or any of its Subsidiaries, including the right to use and transfer by license,
sublicense or otherwise, any software included with such Property, as well as any and all
substitute, successor or alternative technologies therefor; provided that for all purposes
of this Agreement, Equipment shall include Non-Core Equipment subject or related to any Originated
Financing Contract, IKON Originated Financing Contract, SLG Financing Contract or Program Stream
Financing only to the extent that the funding or purchase of such Non-Core Equipment by GE is
expressly approved by GE.

          “Equipment Sales Tax Payment” means, (a) with respect to any Program Financing
Contract or Program Stream Financing Agreement that is a Sales Tax Inclusive Financing Contract
(other than any Federal Financing Contract the Equipment, Program Federal Stream Financing and
Purchased Assets subject or related to which are transferred by IKON to GECITS prior to the Federal
Program Integration Date), that portion of the Sales Tax Payment thereunder attributable to the
Lease Payment or Program Stream Financing Payment thereunder (as applicable) and (b) with respect
to any Federal Financing Contract the Equipment, Program Federal Stream Financing and Purchased
Assets subject or related to which are transferred by IKON to GECITS prior to the Federal Program
Integration Date, has the meaning assigned to such term in the Federal Assignment Agreement.

vii

 

          “Equipment Service Obligations” has the meaning assigned to such term in Section
8.3(a).

          “Equivalent Financial Reports” has the meaning assigned to such term in Section
8.3(g).

          “Evergreen Rentals” has the meaning assigned to such term in Section 6.5.

          “Exceptions Manual” means the exceptions manual, in the form attached hereto as
Exhibit I-2, as the same may be modified or amended from time to time upon the written
approval of GE.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended.

          “Excluded Transaction” means any rental or lease of Equipment (a) to any potential
Customer that shall have had an Application rejected by GE, within one (1) year of the date of
determination, as a result of such Customer having a credit risk rating of ‘5’ or higher;
provided, however, that in no event shall any financing opportunity with such
Customer be deemed to be an Excluded Transaction if recourse to IKON or another IKON Company is
offered or provided in connection with any such financing opportunity, (b) to any Obligor under a
Program Financing Contract or in respect of a Program Stream Financing that has been terminated by
GECITS, within one (1) year of the date of determination, as a result of a payment default
thereunder, (c) to any Obligor that is, at the time, an adversary in a lawsuit with GECITS as a
result of such Obligor’s default in its obligation to make any (i) Lease Payments due under a
Program Financing Contract or (ii) Program Stream Financing Payments in respect of a Program Stream
Financing (as applicable), (d) under any proposed Financing Contract, to the extent that it is both
(i) required to be offered to any existing syndication partner of IKON listed on Annex C
hereto in connection with the upgrade of Equipment subject to Financing Contracts held by such
syndication partner pursuant to the terms of the IKON syndication agreement with such syndication
partner as in effect on the Original Effective Date and (ii) purchased or originated by such
syndication partner pursuant to the terms of such syndication agreement, (e) through a minority- or
woman-owned business, (f) under or pursuant to an Operating Rental Contract or (g) to the United
States Government.

          “Executive Committee” has the meaning assigned to such term in Section 2.1(a).

          “Facilities Management Agreement” means any Financing Contract (a) in respect of which
IKON is the initial lessor thereunder, (b) pursuant to the terms of which IKON, as initial lessor,
has agreed both to (i) lease or rent Equipment to the Obligor thereunder and (ii) perform Equipment
Service Obligations in respect of the Equipment subject thereto and (c) the Equipment Service
Obligations in respect of which include an obligation to provide daily on-site equipment or
software service or other similar services to the Obligor thereunder.

          “Fax Funding Delivery Date” means (a) with respect to any Originated Financing
Contract, IKON Originated Financing Contract, SLG Financing Contract or Federal Financing Contract
with respect to which the Transfer Date in respect of the Equipment related thereto

viii

 

occurs during the 90-day period commencing on the Original Effective Date, the date that is 30
days after such Transfer Date, and (b) with respect to any Originated Financing Contract, IKON
Originated Financing Contract, SLG Financing Contract or Federal Financing Contract with respect to
which the Transfer Date in respect of the Equipment related thereto occurs more than 90 days after
the Original Effective Date, the date that is 20 days after such Transfer Date.

          “Federal Assignment Agreement” means the Purchase and Assignment Agreement the form of
which is attached hereto as Exhibit L.

          “Federal Financing Contract” means any Financing Contract (i) under which the related
Obligor is the United States Government, (ii) entered into by IKON after the Original Effective
Date and (iii) in respect of which the right to receive the equipment lease or rental payments
thereunder is or is to be purchased by GECITS pursuant to (A) the Federal Assignment Agreement, at
any time prior to the Federal Program Integration Date and (B) this Agreement, from and after the
Federal Program Integration Date.

          “Federal Program Integration Date” has the meaning assigned to such term in
Section 3.5.

          “Final Adjusted Closing Date Schedule” means each of (x) the “Final Adjusted Closing
Date Schedule” as defined in the Asset Purchase Agreement and (y) the “Final Adjusted Closing Date
Schedule” as defined in the 2006 Purchase Agreement.

          “Financing Contract” means any contract (including any amendment thereto or
assignment, assumption, renewal or novation thereof) in existence on or after the Original
Effective Date and any ancillary agreements relating thereto (other than any Equipment Service
Obligation agreements), in the form of a lease of or rental agreement with respect to Equipment (it
being agreed that for purposes of this Agreement, (a) each lease schedule to a master lease
agreement shall be deemed to be an individual Financing Contract, (b) each Program Facilities
Management Agreement and each Program Equipment Management Agreement shall constitute a Financing
Contract and (c) if, in connection with the extension of any Program Financing Contract of the type
contemplated by Section 6.5(c) above, GECITS and the Customer shall agree to lease or rent
new Equipment pursuant to such Program Financing Contract in connection with such extension, then
for all purposes of this Agreement, the lease or rental of such new Equipment (in accordance with
the terms of such existing Program Financing Contract) shall be deemed to constitute a new and
separate Financing Contract solely to the extent of such new Equipment).

          “Force Majeure Event” means, with respect to any Person, an event that is beyond the
reasonable control of such Person after taking into account (in the case of a GE Party or IKON) the
disaster recovery policy of that Person, which events may include acts of God, war, terrorism,
rioting, fires, floods, earthquakes, hurricanes, interruption of utility services and acts of any
Governmental Entity.

          “FSS” has the meaning assigned to such term in Section 8.5(d).

ix

 

          “Funded Volume” means, with respect to any period of determination, the difference
between (a) the sum of (i) the aggregate Purchase Price of Equipment (other than Non-Core
Equipment) funded by GECITS in respect of Originated Financing Contracts, IKON Originated Financing
Contracts, SLG Financing Contracts, Program EM Stream Financings and Program FM Stream Financings
during such period in connection with the Program, plus (ii) aggregate purchase price of
Non-Core Equipment paid by GE or GECITS to third party equipment suppliers in respect of Non-Core
Equipment subject or related to Originated Financing Contracts, IKON Originated Financing
Contracts, SLG Financing Contracts, Program EM Stream Financings and Program FM Stream Financings
during such period in connection with the Program, minus (b) the sum of (i) the aggregate
Purchase Price of Equipment subject to all Originated Financing Contracts, IKON Originated
Financing Contracts, SLG Financing Contracts, Program EM Stream Financings and Program FM Stream
Financings and (ii) the aggregate purchase price of Non-Core Equipment paid by GE or GECITS to
third party equipment suppliers in respect of Non-Core Equipment subject or related to all
Originated Financing Contracts, IKON Originated Financing Contracts, SLG Financing Contracts,
Program EM Stream Financings and Program FM Stream Financings, in each case, in respect of which
IKON shall have effected a “sale reversal” pursuant to Section 6.3(b) during such period in
connection with the Program.

          “GE” means General Electric Capital Corporation, a Delaware corporation.

          “GE Designees” has the meaning assigned to such term in Section 2.1(a).

          “GE Guaranty” means that certain Guaranty, dated as of the Original Effective Date,
given and made by GE in favor of IKON (as the same may be amended or modified from time to time).

          “GE Material Adverse Effect” means (a) a material and adverse effect on GE’s business,
assets, operations or condition (financial or otherwise) or (b) any event or occurrence which has,
or would reasonably be expected to have, a material and adverse effect on GE’s or GECITS’ ability
to perform its obligations under this Agreement or any other GE Operative Agreement.

          “GE Party” means each of GE and GECITS.

          “GE Operative Agreement” means this Agreement, the Servicing Agreement, the
Subservicing Agreements, the Marketplace Servicing Agreement, the Services Agreement, the
Syndication Subservicing Agreement, the Trademark License Agreement the GE Guaranty and the Federal
Assignment Agreement.

          “GE Rate Sheets” means the rate sheets for the Program attached hereto as Exhibit
J and in effect on the date hereof, as such rate sheets may be modified by GE from time to time
subject to the provisions of Section 4.1.

          “GE Relationship Manager” has the meaning assigned to such term in Section
2.2.

x

 

          “GE Specified Controls” has the meaning assigned to such term in Section
7.1(a)(ii).

          “GE Termination Event” has the meaning assigned to such term in Section
11.2(a).

          “Governmental Entity” means any domestic or foreign federal, state, provincial, local,
county or municipal government, governmental, judicial, regulatory or administrative agency,
department, commission, board, bureau, court or other authority or instrumentality.

          “IKON” means IKON Office Solutions, Inc., an Ohio corporation.

          “IKON Canada” means IKON Office Solutions, Inc., an Ontario corporation.

          “IKON Companies” has the meaning assigned to such term in Section 1.1.

          “IKON Designees” has the meaning assigned to such term in Section 2.1(a).

          “IKON Evergreen Rentals” means, with respect to any Closing Date IKON Retained
Financing Contract, that portion of the periodic minimum payment thereunder received by IKON in
respect of periods following the stated contractual term of such Financing Contract and prior to
the time, if any, that such Closing Date IKON Retained Financing Contract is sold pursuant to the
2006 Purchase Agreement) that is allocated in the books and records of IOS Capital (immediately
prior to the Pre-Closing Merger) to the rental or lease of the Equipment subject thereto.

          “IKON Material Adverse Effect” means (a) a material and adverse effect on IKON’s
business, assets, operations or condition (financial or otherwise) or (b) any event or occurrence
which has, or would reasonably be expected to have, a material and adverse effect on IKON’s ability
to perform its obligations under this Agreement or any other IKON Operative Agreement.

          “IKON Net Book Value” (a) of a Closing Date IKON Retained Financing Contract that is
not an Operating Rental Contract, at any time, means the sum of (i) all due but uncollected
equipment lease or rental payments under such Financing Contract at such time plus (ii) the
net present value of all future equipment lease or rental payments not then due thereunder,
discounted at the implicit rate of interest under such Financing Contract plus (iii) the
net present value of the booked residual in respect of the Equipment subject to such Financing
Contract, discounted at the “buy-rate” for such Closing Date IKON Retained Financing Contract
reflected in the books and records of IOS Capital (immediately prior to the Pre-Closing Merger) and
(b) of a Closing Date IKON Retained Financing Contract that is an Operating Rental Contract, at any
time, means the difference between (i) the Original Equipment Cost of the Equipment subject thereto
minus (ii) all accumulated depreciation taken in respect of such Equipment, as reflected on
the books of IKON in accordance with the Accounting Principles.

xi

 

          “IKON Off-Lease Equipment” means Equipment (other than Defaulted Equipment) which has
(a) (i) previously been subject or related to an Acquired Financing Contract, Purchased Financing
Contract or Program FM Stream Financing (to the extent purchased by GECITS (directly or indirectly)
pursuant to the Asset Purchase Agreement) repurchased by IKON from GE pursuant to any of
Section 5.7(a), 6.1(b), 6.1(d), 8.3(c) or 9.4 hereof or
Section 2.07(a) or 5.04(b)(v) of the Asset Purchase Agreement or Section
2.07(a) or 5.04(b)(v) of the 2006 Purchase Agreement or (ii) previously been subject to
a Closing Date IKON Retained Financing Contract not sold pursuant to the 2006 Purchase Agreement
(in each case, other than a Written-Off Financing Contract) and (b) (i) prior to the Systems
Facilitation Date, been returned to IKON, repossessed by (or on behalf of) IKON, purchased by the
Obligor thereunder or otherwise ceased to be subject to such Acquired Financing Contract, Purchased
Financing Contract, Program Facilities Management Agreement or Closing Date IKON Retained Financing
Contract (as applicable) or (ii) on or after the Systems Facilitation Date, been both (A) returned
to IKON, repossessed by (or on behalf of) IKON, purchased by the Obligor thereunder or otherwise
ceased to be subject to such Acquired Financing Contract, Purchased Financing Contract, Program
Facilities Management Agreement or Closing Date IKON Retained Financing Contract (as applicable)
and (B) sold, re-leased or otherwise disposed of by GE or IKON.

          “IKON Operative Agreement” means this Agreement, the Servicing Agreement, the
Subservicing Agreements, the Marketplace Servicing Agreement, the Services Agreement, the
Syndication Subservicing Agreement, the Trademark License Agreement and the Federal Assignment
Agreement.

          “IKON Originated Financing Contract” means a Financing Contract (i) in respect of
which IKON or IOS Capital, LLC is the named lessor thereunder, (ii) which has been executed by IKON
as the lessor thereunder (or by GE acting on behalf of IKON pursuant to the power of attorney
granted to GE under Section 6.1(c)(ii)), and (iii) which has been or is to be transferred
to GE pursuant to Section 5.7 (it being agreed that any SLG Financing Contract shall, in no
event, be deemed to constitute an IKON Originated Financing Contract).

          “IKON Pre-Termination Evergreen Contract” means a Closing Date IKON Retained Financing
Contract that, on the date of termination of the Term, is paying IKON Evergreen Rentals.

          “IKON Relationship Manager” has the meaning assigned to such term in Section
2.2.

          “IKON Specified Controls” has the meaning assigned to such term in Section
7.1(b)(ii).

          “IKON Termination Event” has the meaning assigned to such term in Section
11.2(b).

          “Indemnification Event” shall mean any Third Party Action for which a Person is
entitled to indemnification under this Agreement.

xii

 

          “Indemnitee” means any Person entitled to indemnity pursuant to the terms of this
Agreement.

          “Indemnitor” means the indemnifying person in the case of any obligation to indemnify
pursuant to the terms of this Agreement.

          “Initial Personal Property Tax Receivables” means the Personal Property Tax
Receivables listed in the Purchased Personal Property Tax Schedule attached as Annex G.

          “Insurance Proceeds” means any amounts paid or payable on claims under any insurance
policy maintained by an Obligor covering losses arising as a result of the theft or physical damage
to Equipment subject to a Program Financing Contract or in respect of a Program Stream Financing.

          “Late Charges” has the meaning assigned to such term in Section 1.1.

          “Law” means any statute, rule, regulation, code, Order, constitution, ordinance,
common law, standard, limitation, compliance schedule, written direction, request or treaty,
whether legislatively, judicially, administratively or otherwise promulgated, of any Governmental
Entity.

          “Lease Payment” means, with respect to any Program Financing Contract, that portion of
the Minimum Periodic Payment thereunder deemed, as between GE and IKON and in accordance with
Section 5.1, to be allocable to the rental or lease of the Equipment subject thereto.

          “Lien” means any security interest, mortgage, deed of trust, pledge, hypothecation,
assignment, deposit arrangement, encumbrance, lien (statutory or otherwise), preference, priority,
adverse claim, charge, or other security agreement or preferential arrangement of any kind or
nature whatsoever, including any conditional sale or other title retention agreement, any financing
lease having substantially the same economic effect as any of the foregoing and the filing of any
financing statement under the UCC (other than any such financing statement filed for informational
purposes only) or comparable law of any jurisdiction to evidence any of the foregoing.

          “Marketplace Servicing Agreement” means the Marketplace Servicing Agreement, dated as
of the Original Effective Date, by and between GECITS and IKON (as the same may be amended or
modified from time to time).

          “Material Adverse Change” has the meaning assigned to such term in Section
11.2(a)(i).

          “Minimum Periodic Payment” has the meaning assigned to such term in Section
1.1.

          “Net Book Value” (a) of a Program Financing Contract that is not an Operating Rental
Contract, at any time, means the sum of (i) all due but uncollected payments under such

xiii

 

Program Financing Contract at such time that GE is entitled to retain for its own account
pursuant to Section 5.3(a) (other than any Purchased Property Tax Receivables in respect
thereof) plus (ii) the net present value of all future Lease Payments not then due
thereunder, discounted at the Discount Rate applicable thereto plus (iii) the net present
value of the Residual in respect of the Equipment subject to such Program Financing Contract,
discounted at the Discount Rate applicable thereto plus (iv) the unamortized portion of all
origination fees (other than the Volume Origination Fee) for such Program Financing Contract at
such time, (b) of a Program Stream Financing at any time means the sum of (i) all due but
uncollected Program Stream Financing Payments and other payments and amounts under the applicable
Program Stream Financing Agreement at such time that GE is entitled to retain for its own account
pursuant to Section 5.3(b) (other than any Purchased Property Tax Receivables in respect
thereof), plus (ii) the net present value of all future Program Stream Financing Payments
not then due under such Program Stream Financing Agreement, discounted at the Discount Rate
applicable thereto plus (iii) the net present value of the Residual in respect of the
Equipment subject to the related Program Stream Financing Agreement, discounted at the Discount
Rate applicable thereto plus (iv) the unamortized portion of all origination fees (other
than the Volume Origination Fee) for such Program Stream Financing at such time, and (c) of an
Operating Rental Contract at any time means the difference between (i) the Original Equipment Cost
of the Equipment subject thereto minus (ii) all accumulated depreciation taken in respect
of such Equipment, as reflected on the books of GECITS in accordance with generally accepted
accounting principles.

          “Net Economic Value” of a Program Financing Contract or Program Stream Financing, at
any time, means 108.2% of the Net Book Value thereof at such time.

          “Non-Appropriation of Funds” means, (a) with respect to any SLG Financing Contract,
Program FM Stream Financing or Program EM Stream Financing the Obligor in respect of which is a
State and Local Government Entity, that (i) the State and Local Government Entity that is the
Obligor thereunder has not been granted an appropriation of funds at any time after the
commencement of the term of such SLG Financing Contract, Program FM Stream Financing or Program EM
Stream Financing in connection with the use by such State and Local Government Entity of the
Equipment governed thereby or for equipment which is functionally similar to such Equipment, (ii)
operating funds are not otherwise available to the State and Local Government Entity to make the
payments that are due and to become due under such SLG Financing Contract, Program FM Stream
Financing or Program EM Stream Financing, (iii) there is no other legal procedure or available
funds by or with which such payments can be made and (iv) the non-appropriation did not result from
an act or omission by such State and Local Government Entity, and (b) with respect to any Program
Financing Contract or Program Stream Financing Agreement (other than any SLG Financing Contract),
that (i) the Obligor thereunder has agreed, pursuant to one or more agreements with a State and
Local Government Entity or with the United States’ Government (collectively, the “Prime
Agreement”), to provide for the lease or rental of the Equipment subject or related to such
Program Financing Contract or Program Stream Financing Agreement (as applicable) to such State and
Local Government Entity or the United States’ Government and (ii) such Prime Agreement is subject
to non-appropriation of funds of the type described in clause (a) above.

xiv

 

          “Non-Core Equipment” means (a) office equipment or furnishings that are not
distributed or sold by IKON or any IKON Company in the ordinary course of business or (b) other
equipment financed by GE Capital Solutions pursuant to manufacturer or dealer vendor program
agreements or arrangements.

          “Non-Purchased Securitization Parties” means IKON Receivables Funding, LLC, IKON
Receivables-2, LLC, IKON Office Solutions, Inc., a corporation organized under the laws of Ontario,
IKON Capital, Inc., a corporation organized under the laws of Canada, IKON Funding-4, LLC and IKON
Funding-5, LLC.

          “Non-Purchased Securitization Documents” means (i) the Assignment and Servicing
Agreement, dated as of April 1, 2003, among IOS Capital, IKON Receivables Funding, LLC and IKON
Receivables-2, LLC, (ii) the Assignment and Servicing Agreement, dated as of May 1, 2002, among IOS
Capital, IKON Receivables Funding, LLC and IKON Receivables-2, LLC, (iii) the Concurrent Lease
Agreement, dated as of September 14, 1999, among IKON Office Solutions, Inc., a corporation
organized under the Laws of Ontario, IKON Capital, Inc., a corporation organized under the Laws of
Canada, IKON and BNY Trust Company of Canada, as trustee of the Care Trust, (iv) the Transfer and
Servicing Agreement, dated as of December 1, 2001, among IKON Funding-4, LLC, IOS Capital, IKON and
SunTrust Bank and (v) all related agreements and other documents, each such aforementioned
document, as amended.

          “Obligor” shall mean (i) with respect to any Financing Contract, any Person that is an
obligor, borrower or lessee under such Financing Contract and (ii) with respect to any Personal
Property Tax Receivable, the obligor, borrower or lessee under the related Financing Contract.

          “Off-Lease Equipment” means Equipment (other than (x) Defaulted Equipment or (y)
Equipment repurchased by IKON from GE pursuant to any of Sections 5.7(a), 6.1(b),
6.1(d), 6.3(a), 6.3(b), 8.3(c), 9.4 or 11.3 hereof,
Section 2.07(a) or 5.04(b)(v) of the Asset Purchase Agreement or Section
2.07(a)) or 5.04(b)(v) of the 2006 Purchase Agreement) which has (a) previously been
subject to a Program Financing Contract, Program Facilities Management Agreement or Program
Equipment Management Agreement (in each case, other than a Written-Off Financing Contract) and (b)
been both (i) returned to GE, repossessed by (or on behalf of) GE, purchased by the Obligor
thereunder or otherwise ceased to be subject to such Program Financing Contract, Program Facilities
Management Agreement or Program Equipment Management Agreement (as applicable) and (ii) sold,
re-leased or otherwise disposed of by GE or IKON.

          “Operating Rental Contract” means each Financing Contract in respect of Equipment
which is, by the express terms of such Financing Contract or pursuant to applicable Law, cancelable
by the Obligor thereunder without cause and for the convenience of the customer (whether or not
upon prior notice) and without the payment of liquidated damages or early termination charges in an
amount at least equal to the Net Book Value of the Financing Contract as of the effective date of
cancellation.

xv

 

          “Order” means any decree, injunction, judgment, order, ruling, assessment or writ.

          “Original ABS Entities” means IKON Receivables and LLC, IKON Receivables-1, LLC.

          “Original Effective Date” means March 31, 2004.

          “Original Equipment Cost” means, with respect to any item of Equipment, the original
cost of such Equipment as established on the books and records of the Person that owned such
Equipment at the inception of the Financing Contract to which such Equipment is subject (it being
agreed that the Original Equipment Cost of any item of Equipment subject or related to any
Originated Financing Contract, IKON Originated Financing Contract, SLG Financing Contract or
Program Stream Financing Agreement shall be (a) the Purchase Price in respect thereof, with respect
to Equipment that does not constitute Non-Core Equipment and (b) the purchase price paid or
required to be paid by GECITS to any third party supplier thereof (other than IKON or any other
IKON Company) with respect to any Equipment that constitutes Non-Core Equipment).

          “Originated Financing Contract” has the meaning assigned to such term in Section
1.1.

          “Overall Upgrade Excess OEC Percentage” for any Program Year, means a fraction,
expressed as a percentage, (a) the numerator of which is the positive difference, if any, between
(i) the Overall Upgrade OEC Amount for such Program Year (determined as of end of such Program
Year), minus (ii) the Overall Upgrade OEC Allowance for such Program Year, and (b) the
denominator of which is the Overall Upgrade OEC Amount for such Program Year (determined as of end
of such Program Year).

          “Overall Upgrade Make-Whole Amount” for any Program Year, means the product of (a)
8.2% multiplied by (b) the product of (i) the Overall Upgrade Excess OEC Percentage
for such Program Year (determined as of end of such Program Year) multiplied by
(ii) the sum (without duplication of any amounts) of (A) the Net Book Value of all Program
Financing Contracts and Program Stream Financings which have been upgraded or refinanced prior to
their respective stated contractual terms during such Program Year, plus (B) the IKON Net
Book Value of all Financing Contracts in the Retained Portfolio which have been upgraded or
refinanced prior to their respective stated contractual terms during such Program Year.

          “Overall Upgrade OEC Allowance” for any Program Year, means the product of (x) fifty
percent (50%) multiplied by (y) the Disposed Financing OEC Amount for such Program
Year (determined as of end of such Program Year).

          “Overall Upgrade OEC Amount” for any Program Year, as of any time, means (without
duplication of any amounts) the aggregate Original Equipment Cost of all Equipment subject to
Program Financing Contracts, Program Stream Financing Agreements or Financing

xvi

 

Contracts in the Retained Portfolio which have been upgraded or refinanced prior to their
respective stated contractual terms during such Program Year, as of such time.

          “Overall Upgrade Percentage” for any Program Year, as of any time, means a fraction,
expressed as a percentage, (a) the numerator of which is the Overall Upgrade OEC Amount for such
Program Year, as of such time, and (b) the denominator of which is the Disposed Financing OEC
Amount for such Program Year, as of such time.

          “Performance Cancellation Contract” means any Program Financing Contract or Program
Stream Financing Agreement in respect of which the Obligor thereunder has the right to terminate
such contract, pursuant to applicable Law or pursuant to such Program Financing Contract or Program
Stream Financing Agreement (as applicable), or pursuant to any other document or agreement between
the Obligor thereunder and the lessor, upon the failure of any IKON Company to comply with its
Equipment Service Obligations thereunder.

          “Person” means any individual, partnership, firm, corporation, limited liability
company, association, trust, unincorporated organization, Governmental Entity or other entity, as
well as any syndicate or group that shall be deemed to be a person under Section 13(d)(3) of the
Securities Exchange Act of 1934.

          “Personal Property Tax Receivables” shall mean, (a) with respect to any Purchased
Financing Contract: (i) all accounts receivable, payments, reimbursements or other monies due or to
become due from the Obligor under such Financing Contract in respect of any property and ad valorem
taxes, fees and filing costs assessed to IKON prior to the corresponding Transfer Date, together
with all proceeds thereof; (ii) all penalties, late charges, extension fees and indemnification
obligations related thereto; (iii) all ancillary documents related thereto; (iv) all rights,
claims, credits, causes of action or rights of set-off against third parties relating to or arising
out of any of the Personal Property Tax Receivable described in clauses (i) through (iii) above,
and the right to commence suits against such parties for claims arising out of such Personal
Property Tax Receivable; and (v) all proceeds of the foregoing, in each case, to the extent the
same shall constitute “Excluded Assets” under (and as defined in) the Asset Purchase Agreement; and
(b) with respect to any Acquired Financing Contract: (i) all accounts receivable, payments,
reimbursements or other monies due or to become due from the Obligor under such Financing Contract
in respect of any property and ad valorem taxes, fees and filing costs assessed to IKON prior to
the corresponding Transfer Date, together with all proceeds thereof; (ii) all penalties, late
charges, extension fees and indemnification obligations related thereto; (iii) all ancillary
documents related thereto; (iv) all rights, claims, credits, causes of action or rights of set-off
against third parties relating to or arising out of any of the Personal Property Tax Receivable
described in clauses (i) through (iii) above, and the right to commence suits against such parties
for claims arising out of such Personal Property Tax Receivable; and (v) all proceeds of the
foregoing, in each case, to the extent the same shall constitute “Excluded Assets” under (and as
defined in) the 2006 Purchase Agreement.

          “Pre-Closing Merger” means the merger of IOS Capital with and into IKON as
contemplated by (and in accordance with) the Asset Purchase Agreement.

xvii

 

          “Pre-Mid Term Excess OEC Percentage” for any Program Year, means a fraction, expressed
as a percentage, (a) the numerator of which is the positive difference, if any, between (i) the
Pre-Mid Term OEC Amount for such Program Year (determined as of end of such Program Year),
minus (ii) the Pre-Mid Term OEC Allowance for such Program Year, and (b) the denominator of
which is the Pre-Mid Term OEC Amount for such Program Year (determined as of end of such Program
Year).

          “Pre-Mid Term Make-Whole Amount” for any Program Year, means the product of (a) 8.2%
multiplied by (b) the product of (i) the Pre-Mid Term Excess OEC Percentage for
such Program Year (determined as of end of such Program Year) multiplied by (ii)
the sum (without duplication of any amounts) of (A) the Net Book Value of all Program Financing
Contracts and Program Stream Financings which have been upgraded or refinanced prior to their
respective stated contractual terms during such Program Year prior to the expiration of one-half of
the original contractual term thereof, plus (B) the IKON Net Book Value of all Financing
Contracts in the Retained Portfolio which have been upgraded or refinanced prior to their
respective stated contractual terms during such Program Year prior to the expiration of one-half of
the original contractual term thereof.

          “Pre-Mid Term OEC Allowance” for any Program Year, means the product of (x) ten
percent (10%) multiplied by (y) the Disposed Financing OEC Amount for such Program
Year (determined as of end of such Program Year).

          “Pre-Mid Term OEC Amount” for any Program Year, as of any time, means (without
duplication of any amounts) the aggregate Original Equipment Cost of all Equipment subject to
Program Financing Contracts, Program Stream Financing Agreements or Financing Contracts in the
Retained Portfolio which have, as of such time, been upgraded or refinanced prior to their
respective stated contractual terms during such Program Year prior to the expiration of one-half of
the original contractual term thereof.

          “Pre-Mid Term Upgrade Percentage” for any Program Year, as of any time, means a
fraction, expressed as a percentage, (a) the numerator of which is the Pre-Mid Term OEC Amount for
such Program Year, as of such time, and (b) the denominator of which is the Disposed Financing OEC
Amount for such Program Year, as of such time.

          “Pre-Termination Evergreen Contract” means a Program Financing Contract or Program
Stream Financing held by GE that, on the date of termination of the Term, is paying Evergreen
Rentals.

          “Program” means the agreements and arrangements between GE and IKON with respect to a
financing program for Customers of the IKON Companies as contemplated by this Agreement and
otherwise agreed by GE and IKON.

          “Program Commission Policy” has the meaning assigned to such term in Section
3.2(e).

xviii

 

          “Program EM Stream Financing” means any right, purchased by GECITS from IKON pursuant
to the Asset Purchase Agreement or this Agreement, to receive the Program EM Stream Financing
Payments under, and any payments made in connection with the exercise by an Obligor of any right to
purchase Equipment subject to, any Program Equipment Management Agreement.

          “Program EM Stream Financing Payment” means, with respect to any Program Equipment
Management Agreement, that portion of the Minimum Periodic Payment thereunder deemed, as among GE,
GECITS and IKON in accordance with Section 5.1, to be allocable to the rental or lease of
Equipment subject thereto.

          “Program Equipment Management Agreement” means any Financing Contract (a) in respect
of which IKON is the initial lessor thereunder, (b) pursuant to the terms of which IKON, as initial
lessor, has agreed both to (i) lease or rent Equipment to the Obligor thereunder and (ii) perform
Equipment Service Obligations in respect of the Equipment subject thereto, (c) the Equipment
Service Obligations in respect of which do not include any obligation to provide on-site equipment
or software service or other similar services to the Obligor thereunder and (d) in respect of which
the right to receive the equipment lease or rental payments thereunder and the Purchased Assets in
respect thereof is or is to be purchased by GECITS pursuant to Section 5.7;
provided that if a Program Equipment Management Agreement also constitutes a Federal
Financing Contract, such Financing Contract shall be deemed, solely for purposes of Sections
5.7, 8.2, 8.3, 10.1, 10.2, 10.3 and Schedule 1
not to constitute a Program Equipment Management Agreement.

          “Program Facilities Management Agreement” means any Facilities Management Agreement in
respect of which the right to receive the equipment lease or rental payments thereunder and the
Purchased Assets in respect thereof is or is to be purchased by GECITS pursuant to Section
5.7; provided that if a Program Facilities Management Agreement also constitutes a
Federal Financing Contract, such Financing Contract shall be deemed, solely for purposes of
Sections 5.7, 8.2, 8.3, 10.1, 10.2, 10.3 and
Schedule 1, not to constitute a Program Facilities Management Agreement.

          “Program Federal Stream Financing” means any right, purchased or to be purchased by
GECITS from IKON pursuant to this Agreement or the Federal Assignment Agreement under, and any
payments made in connection with the exercise by an Obligor of any right to purchase Equipment
subject to, any Federal Financing Contract.

          “Program Federal Stream Financing Payment” (a) with respect to any Federal Financing
Contract transferred to GECITS prior to the Federal Program Integration Date, has the meaning
assigned to such term in the Federal Assignment Agreement and (b) with respect to any Federal
Financing Contract transferred to GECITS from and after the Federal Program Integration Date, means
that portion of the Minimum Periodic Payment thereunder deemed, as among GE, GECITS and IKON in
accordance with Section 5.1, to be allocable to the rental or lease of Equipment subject
thereto.

xix

 

          “Program Financing Contract” means any Purchased Financing Contract, Acquired
Financing Contract (from and after the Amendment Effective Date), IKON Originated Financing
Contract, SLG Financing Contract or Originated Financing Contract (including any amendment,
assignment, assumption, renewal or novation thereof and any ancillary agreements (other than any
Equipment Service Obligation agreements) thereto); it being agreed that a Closing Date IKON
Retained Financing Contract shall not constitute a Program Financing Contract notwithstanding any
purchase thereof by GE or GECITS in accordance with this Agreement.

          “Program FM Stream Financing” means any right, purchased by GECITS from IKON pursuant
to the Asset Purchase Agreement or this Agreement, to receive the Program FM Stream Financing
Payments under, and any payments made in connection with the exercise by an Obligor of any right to
purchase Equipment subject to, any Program Facilities Management Agreement.

          “Program FM Stream Financing Payment” means, with respect to any Program Facilities
Management Agreement, that portion of the Minimum Periodic Payment thereunder deemed, as among GE,
GECITS and IKON in accordance with Section 5.1, to be allocable to the rental or lease of
Equipment subject thereto.

          “Program Stream Financing” means any Program Federal Stream Financing, Program FM
Stream Financing or Program EM Stream Financing.

          “Program Stream Financing Agreement” means any Program Facilities Management
Agreement, Program Equipment Management Agreement or Federal Financing Contract.

          “Program Stream Financing Payment” means any Program Federal Stream Financing Payment,
Program EM Stream Financing Payment or any Program FM Stream Financing Payment.

          “Program Termination Fee” means (a) with respect to any termination of the Program as
a consequence of (i) a GE Termination Event of the type described in Section 11.2(a)(ii) or
(ii) an IKON Termination Event of the type described in Section 11.2(b)(i), $30,000,000 and
(b) in all other events, $15,000,000.

          “Program Upgrade Report” has the meaning assigned to such term in Section
6.3(a)(i)(B).

          “Program Year” means the period commencing on the Original Effective Date (or any
anniversary thereof) and ending on a date that is both (a) one year thereafter and (b) during the
Term.

          “Property” means all property and assets of whatsoever nature, including personal
property, whether tangible or intangible, and claims, rights and choses in action.

xx

 

          “Property Tax Inclusive Financing Contract” means any Financing Contract in respect of
which the personal property tax reimbursement payments are not separately identified or billed to
the Obligor on invoices or billing statements with respect thereto.

          “Purchase Price” means (a) with respect to the Equipment subject to any Originated
Financing Contract, IKON Originated Financing Contract, or SLG Financing Contract, an amount equal
to result of (i) the net present value, as of the lease commencement date, of all unpaid Lease
Payments under such Originated Financing Contract, IKON Originated Financing Contract or SLG
Financing Contract (as applicable) through the stated termination date thereof, discounted at the
Discount Rate with respect to such Originated Financing Contract, IKON Originated Financing
Contract or SLG Financing Contract, plus (ii) the net present value, as of the lease
commencement date (determined based on a discount rate equal to the Discount Rate with respect to
such Originated Financing Contract, IKON Originated Financing Contract, IKON Originated Financing
Contract or SLG Financing Contract), of the Residual (as determined in accordance with the Residual
Policy) in respect of the Equipment subject to such Originated Financing Contract, IKON Originated
Financing Contract or SLG Financing Contract minus (iii) the purchase price paid or
required to be paid by GE to any third party supplier of Non-Core Equipment included in such
Equipment, and (b) with respect to the Equipment subject to any Program Stream Financing, an amount
equal to result of (i) the net present value, as of the contract commencement date, of all unpaid
Program Stream Financing Payments under the related Program Stream Financing Agreement through the
stated termination date thereof, discounted at the Discount Rate with respect to such Program
Stream Financing, plus (ii) the net present value, as of the lease commencement date
(determined based on a discount rate equal to the Discount Rate with respect to such Program Stream
Financing), of the Residual (as determined in accordance with the Residual Policy) in respect of
the Equipment related to such Program Stream Financing minus (iii) the purchase price paid
or required to be paid by GECITS to any third party supplier of Non-Core Equipment included in such
Equipment.

          “Purchased ABS Entities” means IKON Receivables Funding, LLC and IKON Receivables-2,
LLC.

          “Purchased Assets” means (a) with respect to any IKON Originated Financing Contract or
SLG Financing Contract, collectively, (i) all right, title and interest of IKON in and to, but none
of IKON’s or any other Person’s obligations under, such Financing Contract and all Credit
Enhancements relating thereto, (ii) the related Financing Contract files, (iii) all payments due
and to become due thereon or paid thereunder, (iv) all Insurance Proceeds, and (v) all proceeds and
income of the foregoing or relating thereto and (b) with respect to any Program Stream Financing,
collectively, (i) all right, title and interest of IKON in and to, but none of IKON’s or any other
Person’s obligations under, such Program Stream Financing and a pro rata portion of IKON’s rights
in and to any Credit Enhancements relating thereto, (ii) the Financing Contract files with respect
thereto, (iii) all Program Stream Financing Payments, Administration Fees, sundry charges,
Equipment Sales Tax Payments and Uplift Payments due and to become due thereon or paid thereunder,
together with any Late Charges which may accrue, from time to time, in respect thereof, (iv) all
Equipment casualty payments required to be made by the Obligor under the related Program Stream
Financing Agreement, (v) all Insurance Proceeds, (vi) all proceeds and income of the foregoing or
relating thereto and (vii) all Obligor indemnity

xxi

 

payments required to be made under the related Program Stream Financing Agreement, to the
extent relating to (A) the Equipment related to such Program Stream Financing or (B) any of the
items described in clauses (b)(i) through (b)(vi).

          “Purchased Financing Contract” has the meaning assigned to such term in the Asset
Purchase Agreement.

          “Purchased Personal Property Tax Bill of Sale” means, for any Personal Property Tax
Receivables purchased or to be purchased by GECITS on any Transfer Date, a bill of sale in the form
attached hereto as Exhibit N.

          “Purchased Personal Property Tax Receivables” shall mean all Personal Property Tax
Receivables purchased by GECITS pursuant to the provisions of Section 3.6 hereof; it being
agreed that upon any repurchase of any Purchased Personal Property Tax Receivables pursuant to
Section 6.1(f) or 9.4 of this Agreement, such Purchased Personal Property Tax
Receivable shall cease to be a Purchased Personal Property Tax Receivable for all purposes of this
Agreement (including Section 5.3 hereof).

          “Purchased Personal Property Tax Schedule” means, for any Personal Property Tax
Receivables purchased or to be purchased by GECITS on any Transfer Date, a schedule in the form
attached hereto as Exhibit O.

          “Rejected Eligible Financing Contract” means each proposed Originated Financing
Contract, IKON Originated Financing Contract or SLG Financing Contract (other than any Excluded
Financing Contract) that meets each of the following criteria:

          (a) such proposed Originated Financing Contract, IKON Originated Financing Contract or SLG
Financing Contract was (i) rejected by GE pursuant to Section 5.5 or 5.6, (ii)
conditionally approved by GE pursuant to Section 5.5 or 5.6, if the terms of such
conditional approval (to the extent relating to such Obligor) were subsequently rejected by the
applicable Customer or (iii) conditionally approved by GE pursuant to Section 5.5 or
5.6, if the terms of such conditional approval (to the extent relating to the provision, by
IKON, of any recourse, credit support or other accommodation) were subsequently rejected by IKON;
and

          (b) such proposed Originated Financing Contract, IKON Originated Financing Contract or SLG
Financing Contract was originated by IKON; and

          (c) such proposed Originated Financing Contract, IKON Originated Financing Contract or SLG
Financing Contract was syndicated by IKON in its entirety, to any of Citibank N.A., De Lage Landen
International B.V. or Wells Fargo & Company or any Subsidiary of the ultimate parent company of any
thereof (on terms no less favorable to IKON than those offered to GE), within 30 days thereafter;
and

          (d) such proposed Originated Financing Contract, IKON Originated Financing Contract or SLG
Financing Contract provides an economic return to Citibank N.A., De Lage Landen International B.V.
or Wells Fargo & Company (or any Subsidiary of the ultimate parent

xxii

 

company of any thereof) (as applicable) no more favorable than the economic return to GE under
the Program; and

          (e) such proposed Originated Financing Contract, IKON Originated Financing Contract or SLG
Financing Contract does not constitute an Excluded Transaction or a Financing Contract that is not
written on the Standard Form Documentation.

          “Replaced Financing” has the meaning assigned to such term in Section 6.3(a).

          “Replacement Financing” has the meaning assigned to such term in Section
6.3(a).

          “Representative Contracts” has the meaning assigned to such term in Section
5.13.

          “Repurchase Price” shall mean with respect to any Purchased Personal Property Tax
Receivable repurchased or to be repurchased by IKON pursuant to Section 9.4, the amount due
but uncollected in respect thereof as of the date of repurchase by IKON.

          “Residual” with respect to any Equipment means GECITS’ booked residual with respect to
such Equipment as in effect at the inception of the related Originated Financing Contract, IKON
Originated Financing Contract, SLG Financing Contract or Program Stream Financing financed by
GECITS under this Agreement after the Original Effective Date (or, (x) in the case of a Purchased
Financing Contract or Program FM Stream Financing purchased by GECITS pursuant to the Asset
Purchase Agreement, as in effect on the Original Effective Date or (y) in the case of an Acquired
Financing Contract purchased by GE pursuant to the 2006 Purchase Agreement, as in effect on the
Amendment Effective Date).

          “Residual Policy” means the policy attached as Exhibit A hereto, as the same
may be amended or modified from time to time by GE pursuant to Section 4.3 (it being agreed
that during the period commencing on the date hereof through (but excluding) the Federal Program
Integration Date, the Residual Policy shall not be applicable to any Equipment subject or proposed
to be subject to any Federal Financing Contract).

          “Responsible Officer” of IKON means any (i) director, officer, vice president or
senior vice president of IKON (or any other IKON Company made a party hereto pursuant to the
provisions of Section 3.4), (ii) individual set forth on Annex F, (iii) any legal
counsel of any IKON Company engaged in the administration, management or operations of the Program
or (iv) the IKON Relationship Manager.

          “Retained Portfolio” means, collectively, (a) (i) with respect to periods prior to the
Amendment Effective Date, IKON’s and the Non-Purchased Securitization Parties’ (other than IKON
Canada’s) portfolio of Financing Contracts retained (and not sold to GECITS pursuant to the Asset
Purchase Agreement) on the Original Effective Date and (ii) with respect to periods from and after
the Amendment Effective Date, IKON’s portfolio of Financing Contracts retained (and not sold to
GECITS pursuant to the Asset Purchase Agreement on the Original

xiii

 

Effective Date or to GE pursuant to the 2006 Purchase Agreement on the Amendment Effective
Date), (b) all Financing Contracts and all proposed Program Stream Financings originated by IKON
after the date hereof which (i) are rejected for funding by GE (or the conditional approvals in
respect of which are rejected by the applicable Customers) or (ii) constitute Excluded Transactions
and, in each case, are originated and retained by IKON, (c) all Program Financing Contracts and
Program Stream Financings which are purchased by IKON from GE pursuant to this Agreement, and (d)
those stand-alone service contracts (including FM service contracts) that are both (i)
entered into in connection with any Program Financing Contract or any Financing Contract of the
type described in clauses (a) and (b) and (ii) of the type billed and collected by IOS Capital as
of the Original Effective Date (and immediately prior to giving effect to the Pre-Closing Merger)
(it being acknowledged and agreed that in no event shall the Retained Portfolio include any
agreement of the type referred to in clauses (a) through (d) above to the extent such agreement
relates to the sale, lease or rental of Equipment to, or the provision of Equipment maintenance and
servicing for, Customers at locations outside the United States).

          “RFP” means any Request for Proposal or other purchase or offering document issued
from time to time by a Person for the acquisition of any Property.

          “Right of First Opportunity” has the meaning set forth in Section 3.3.

          “Sales Tax Inclusive Financing Contract” means any Financing Contract in respect of
which the state sales/use/franchise tax reimbursement payments are not separately identified or
billed to the Obligor on invoices or billing statements with respect thereto.

          “Sales Tax Payment” (a) means, with respect to each Program Financing Contract or
Program Stream Financing Agreement (i) that is a Sales Tax Inclusive Financing Contract ((other
than any Federal Financing Contract the Equipment, Program Federal Stream Financing and Purchased
Assets subject or related to which are transferred by IKON to GECITS prior to the Federal Program
Integration Date), that portion of the Minimum Periodic Payment thereunder deemed, as among GE,
GECITS and IKON and in accordance with Section 5.1, to be allocable to the applicable
Obligor’s sales/use/franchise tax reimbursement obligations thereunder and (ii) that is a Sales Tax
Inclusive Financing Contract the Equipment, Program Federal Stream Financing and Purchased Assets
subject or related to which are transferred by IKON to GECITS prior to the Federal Program
Integration Date, has the meaning assigned to such term in the Federal Assignment Agreement or (b)
that is not a Sales Tax Inclusive Financing Contract, a separately invoiced payment in respect of
the sales/use/franchise tax reimbursement obligations of the Obligor thereunder.

          “Score Card Eligible” means, with respect to an Application for a Customer for a line
of credit (whether or not in respect of a proposed Originated Financing Contract, IKON Originated
Financing Contract, SLG Financing Contract or Program Stream Financing), that such Application is
eligible for automatic decision under and pursuant to the Credit Approval Policy.

          “Securitization Documents” means the agreements set forth in Schedule 3.21(a)
to the Asset Purchase Agreement and each and every agreement and closing document to which

xxiv

 

IKON or any ABS Entity is or was a party in connection with any Securitization Transaction,
but excluding any Financing Contract, each such aforementioned document, as amended.

          “Securitization Purchase Price” means, with respect to any Program Financing Contract,
an amount equal to the sum of (a) the amount required to be paid pursuant to the terms of any
applicable Securitization Document in connection with the repurchase by GE of such Program
Financing Contract from the applicable ABS Entity pursuant to any repurchase options contained
therein plus (b) the net present value of the booked residual in respect of the Equipment
subject to such Financing Contract, discounted at the “buy-rate” for such Financing Contract, as
reflected in the books and records of IOS Capital (immediately prior to the Pre-Closing Merger).

          “Securitization Transaction” means any transaction or series of transactions that have
been entered into by IKON or any of its Subsidiaries pursuant to which IKON or any of its
Subsidiaries has sold, conveyed, or otherwise transferred, or may sell, convey or otherwise
transfer, pursuant to a Securitization Document, to an ABS Entity, any “accounts”, “general
intangibles”, “instruments” or “chattel paper” (as such terms are defined in the Uniform Commercial
Code), in each case whether now existing or arising in the future.

          “Service Profit Element” means, with respect to any Program Financing Contract or
Program Stream Financing Agreement as of any time, an amount equal to 50% of all future Base
Equipment Service Payments thereunder.

          “Service Sales Tax Payment” means, (a) with respect to any Program Financing Contract
or Program Stream Financing Agreement (other than any Federal Financing Contract the Equipment,
Program Federal Stream Financing and Purchased Assets subject or related to which are transferred
by IKON to GECITS prior to the Federal Program Integration Date), that portion of the Sales Tax
Payment thereunder attributable to the Base Equipment Service Payment and the CPC Charges
thereunder and (b) with respect to any Federal Financing Contract the Equipment, Program Federal
Stream Financing and Purchased Assets subject or related to which are transferred by IKON to GECITS
prior to the Federal Program Integration Date, has the meaning assigned to such term in the Federal
Assignment Agreement.

          “Serviced Assets” has the meaning assigned to such term in the Servicing Agreement.

          “Services Agreement” means the Administrative Services Agreement, dated as of the
Original Effective Date, by and between GE and IKON (as the same may be amended or modified from
time to time).

          “Servicing Agreement” means the IKON Retained Business Servicing Agreement, dated as
of the Original Effective Date, by and between GE and IKON (as the same may be amended or modified
from time to time).

          “SLG Financing Contract” means a Financing Contract (i) pursuant to which the Customer
is a State and Local Government Entity, (ii) entered into after the Original Effective

xxv

 

Date and (iii) which has been or is to be transferred to GE pursuant to Section 5.7.
No Program Facilities Management Contract and no Program Equipment Management Agreement shall, in
any event, be deemed to constitute an SLG Financing Contract.

          “Special Damages” means special, incidental, exemplary, consequential or punitive
losses or damages; provided, however, that “Special Damages” shall not
include any Damages relating to (a) the failure of GE or GECITS to receive the amounts payable in
accordance with the terms of any Program Financing Contract or Program Stream Financing Agreement,
to the extent such amounts may properly be retained by GE or GECITS pursuant to Section
5.3(a)(ii) or 5.3(b)(i) or (b) the failure of IKON to receive the amounts payable in
accordance with the terms of any Program Financing Contract or Program Stream Financing Agreement,
to the extent such amounts are required to be remitted by GE or GECITS to IKON pursuant to
Section 5.3(a)(i) or 5.3(b)(ii).

          “Standard Form Documentation” means each form Financing Contract, in the form attached
hereto as Exhibit I-1, with such modifications or additions as may be permitted pursuant to
the Exceptions Manual or as may otherwise be agreed by GE and IKON (if applicable) in accordance
with Section 5.4.

          “State and Local Government Entity” means a Customer that is a state or a political
subdivision of the state in which it is located or the District of Columbia and which, if the SLG
Financing Contract applicable to such Customer contemplates that interest income received by the
lessor or obligee shall be Tax-Exempt Income, qualifies as an issuer of a state or local bond for
purposes of Section 103 of the Code.

          “Subservicing Agreements” means (i) Subservicing Agreement, dated as of March 31,
2004, between IKON and GE; (ii) Amendment No. 1, dated as of March 31, 2004, to Transfer and
Servicing Agreement, by and among IKON Funding-4, LLC, IOS Capital, IKON and SunTrust Bank, and
consented to by the Syndication Agent and the Class A Note Purchasers and the Class B Note
Purchasers, dated as of December 1, 2001; and (iii) Amendment No. 1, dated as of March 31, 2004, to
Note Purchase Agreement, among IKON Funding-4, LLC, SunTrust Bank, IOS Capital, IKON, the Class A
Note Purchasers, the Class B Note Purchasers and Fleet Capital Corporation, dated as of December 1,
2001, in each case, as the same may be amended, modified, restated or supplemented from time to
time.

          “Subsidiary” means, with respect to any Person, any corporation, partnership or other
business entity of which an aggregate of fifty percent (50%) or more of the outstanding capital
stock having ordinary voting power to elect a majority of the board of directors, managers,
trustees or other controlling persons, is, at the time, directly or indirectly, owned or Controlled
by such Person and/or one or more Subsidiaries of such Person (irrespective of whether, at the
time, capital stock of any other class or classes of such entity shall have or might have voting
power by reason of the happening of any contingency).

          “Syndication Subservicing Agreement” means the Syndication Subservicing Agreement,
dated as of the Original Effective Date hereof, by and between GE and IKON (as the same may be
amended or modified from time to time).

xxvi

 

          “Systems Facilitation Date” means the date that IKON’s IT systems enable it to track
the refurbishment and sale of individual items of Equipment (but in no event later than October 31,
2006).

          “Tax-Exempt Income” means any interest income received by the lessor, payee or obligee
under a Program Financing Contract which is not contemplated to be included in such lessor’s,
payee’s or obligee’s gross income under the Code.

          “Tax-Exempt Public Sector Financing” means (i) each SLG Financing Contract (but
excluding any Financing Contract involving a usage based fee arrangement) and (ii) each Program FM
Stream Financing or Program EM Stream Financing in respect of which the Obligor thereunder or
related thereto is a State and Local Government Entity, in each case, in respect of which the
interest income derived from such Tax-Exempt Public Sector Financing may properly be excluded from
the gross income of the lessor, payee or obligee under such SLG Financing Contract, Program FM
Stream Financing or Program EM Stream Financing (as applicable) pursuant to Section 103 of the Code
or any predecessor thereof.

          “Term” has the meaning assigned to such term in Section 11.1.

          “Third Party Action” means any Action, assertion, allegation, cause of action, demand,
notice of actual or potential liability or responsibility, claim for reimbursement or contribution,
Order, request or demand under claim of authority to take action or refrain from taking action,
Lien, proceeding in condemnation, execution upon judgment, or other claim, in each case, by a
Person (other than a GE Party , IKON or any other Person entitled to indemnification under
Section 9.1 or 9.2) against a GE Party, IKON or any other Person entitled to
indemnification under Section 9.1 or 9.2, as the case may be.

          “Trademark License Agreement” means that certain Trademark License Agreement, dated as
of the Original Effective Date, by and among GE, GECITS and IKON (as the same may be amended or
modified from time to time).

          “Transfer Date” means (a) with respect to any Equipment (other than Equipment subject
to any Federal Financing Contract purchased or to be purchased by GECITS pursuant to the Federal
Assignment Agreement) and any related IKON Originated Financing Contract, SLG Financing Contract,
Program FM Stream Financing, Program EM Stream Financing or Purchased Assets (as applicable), the
earliest date that each of the conditions to the shipment by IKON of such Equipment to the
applicable Customer set forth in Section 5.6 hereof shall have been satisfied or waived by
GE, (b) with respect to any Equipment purchased or to be purchased by GECITS pursuant to the
Federal Assignment Agreement and the related Program Federal Stream Financing and Purchased Assets,
the earliest date that each of the conditions to shipment by IKON of such Equipment set forth in
the Federal Assignment Agreement shall have been satisfied or waived by GE and (c) with respect to
the Initial Personal Property Tax Receivables, the Amendment Effective Date, and (d) with respect
to any other Personal Property Tax Receivables, the date that GECITS purchases such Personal
Property Tax Receivables from IKON pursuant to the provisions of Section 3.6.

xxvii

 

          “Transfer Date Purchase Price” means, with respect to any Purchased Personal Property
Tax Receivables purchased or to be purchased by GECITS on any Transfer Date, the amount of personal
property tax reimbursement payments owed by the related Obligor (whether or not due): (i) in
respect of personal property or ad valorem taxes that have been paid by IKON to the relevant taxing
jurisdiction prior to such Transfer Date and (ii) that have been billed to such Obligor in the
IKONICS system as of such Transfer Date.

          “Transferred Employees” has the meaning specified in the Asset Purchase Agreement.

          “Transferred Servicing Agreement” means an agreement between GE and a purchaser from
IKON of Equipment or Serviced Assets which (a) provides for the billing and collecting by GE of (i)
leases and/or rental agreements entered into by Customers (other than Customers in respect of
which an Application shall have been rejected by GE as a result of such Customer having a credit
risk rating of ‘5’ or higher) in respect of Equipment or (ii) such transferred Serviced Assets, in
each case, on behalf of such purchaser, and (b) is (unless otherwise expressly agreed by GE, in its
sole discretion) no less favorable to GE in any material respect (including with respect to the
term of such agreement and the termination rights in respect thereof) than the terms of Syndication
Subservicing Agreement.

          “United States Government” means the United States government or any agency,
department or instrumentality thereof.

          “Uplift Allocation Percentage” means, with respect to any Property Tax Inclusive
Financing Contract, an amount equal to 2% (or such other amount as shall be determined by GE to be
applicable to such Financing Contract pursuant to Section 5.1(a)(i)(A)).

          “Uplift Payment” (a) means, with respect to each Program Financing Contract or Program
Stream Financing Agreement (i) that is a Property Tax Inclusive Financing Contract (other than any
Federal Financing Contract the Equipment, Program Federal Stream Financing and Purchased Assets
subject or related to which are transferred by IKON to GECITS prior to the Federal Program
Integration Date), that portion of the Minimum Periodic Payment thereunder deemed, as among GE,
GECITS and IKON and in accordance with Section 5.1, to be allocable to the applicable
Obligor’s personal property tax reimbursement obligations thereunder and (ii) that is a Property
Tax Inclusive Financing Contract the Equipment, Program Federal Stream Financing and Purchased
Assets subject or related to which are transferred by IKON to GECITS prior to the Federal Program
Integration Date, has the meaning assigned to such term in the Federal Assignment Agreement or (b)
that is not a Property Tax Inclusive Financing Contract, a separately invoiced payment in respect
of the personal property tax reimbursement obligations of the Obligor thereunder.

          “VFS Macon” means VFS Macon, Inc., a Delaware corporation.

          “Volume Origination Fee” means with respect to any Funded Volume for any period, an
amount equal to the product of (i) 5.144% multiplied by (ii) such Funded Volume.

xxviii

 

          “Wholesale Equipment Price List” means the price list previously delivered to GE by
IKON which sets forth for each item of Equipment listed thereon, the Wholesale Fair Market Value
therefor (which amount shall be expressed net of all out-of-pocket sales, disposition and other
similar costs and expenses), as such price list may be amended by IKON from time to time upon not
less than 30 days’ prior notice to GE.

          “Wholesale Fair Market Value” means, for any item of Equipment, (a) the wholesale fair
market value thereof as set forth on the Wholesale Equipment Price List, or (b) if such Equipment
is not set forth on the Wholesale Equipment Price List and IKON shall have agreed to perform
remarketing and refurbishment services in respect thereof prior to the Systems Facilitation Date,
such other value as shall be mutually agreed between IKON and GE.

          “Write-Off Policy” means the write-off policy attached hereto as Exhibit G.

          “Written-Off Financing Contract” means any (a) Closing Date IKON Retained Financing
Contract that was purchased by GE from IKON in accordance with Section 10.6 and has been
written-off by GE for any reason prior to the earlier to occur of (i) the expiration of its stated
contractual term and (ii) the end of the Term, (b) Program Financing Contract that has been written
off by GE for any reason prior to the earlier to occur of (i) the expiration of its stated
contractual term and (ii) the end of the Term, (c) Purchased Financing Contract that was
written-off by IKON both prior to the Original Effective Date and prior to the end of its stated
contractual term and (d) Program FM Stream Financing or Program EM Stream Financing that that has
been written off by GE for any reason prior to the earlier to occur of (i) the expiration of the
stated contractual term of the related Program Stream Financing Agreement and (ii) the end of the
Term.

     II. Interpretation and Rules of Construction. In this Agreement, except to the extent
that the context otherwise requires:

          (c) when a reference is made in this Agreement to an article, section, exhibit or schedule,
such reference is to an Article or Section of, or an Exhibit or a Schedule to, this Agreement
unless otherwise indicated;

          (d) whenever the words “include”, “includes” or “including” are used in this Agreement, they
are deemed to be followed by the words “without limitation”;

          (e) the words “hereof”, “herein” and “hereunder” and words of similar import, when used in
this Agreement, refer to this Agreement as a whole and not to any particular provision of this
Agreement; and

          (f) the definitions contained in this Agreement are applicable to the singular as well as the
plural forms of such terms.

xxix

 

ANNEX B

DESIGNEES; NOTICES

IKON Designees

Robert Woods

IKON Office Solutions, Inc.

70 Valley Stream Parkway

Malvern, PA 19355

Mark Hershey

IKON Office Solutions, Inc.

70 Valley Stream Parkway

Malvern, PA 19355

Jeff Hickling

IKON Office Solutions, Inc.

70 Valley Stream Parkway

Malvern, PA 19355

GE Designees

Valerie Pagliero

GE Capital Solutions

10 Riverview Drive

Danbury, CT 06810

Joespeh Cistulli

GE Capital Solutions

10 Riverview Drive

Danbury, CT 06810

Steven J. Toeniskoetter

GE Capital Solutions

3000 Lakeside Drive

Bannockburn, IL 60015

 

 

ANNEX C

EXISTING SYNDICATION PARTNERS OF THE IKON COMPANIES

1.   Information Leasing Corporation

2.   CCA Financial

3.   De Lage Landen

4.   Wells Fargo

5.   Patriot Bank

6.   Baystone Financial

7.   CIT

8.   Citi Capital

 

 

ANNEX D

AGREED REPRESENTATIONS AS TO ABS ENTITIES

Servicing Provisions Customary.

     Any post-Closing modifications by GE to the servicing fees paid to GE are consistent, in all
material respects, with the arrangements and customary practices of GE when providing comparable
services to non-affiliated entities.

Nonconsolidation.

     Each ABS Entity is, and since the Closing Date has been, operated in such a manner that it
would not be substantively consolidated with GE and such that the separate existence of each ABS
Entity would not be disregarded in the event of a bankruptcy or insolvency of GE.

Compliance with Law.

     Since the Closing Date, GE has not caused any ABS Entity to be out of compliance, in any
material respect, with any laws, ordinances, governmental rules or regulations to which it is
subject, including the Investment Company Act of 1940, as amended.

Perfection.

     Since the Closing Date, GE has not pledged, assigned, sold, granted a security interest in, or
otherwise conveyed any of the leases or equipment related thereto (other than as contemplated by
the applicable Securitization Documents) that would result in a representation made in such
Securitization Documents with respect to security interest matters being untrue in any material
respect.

 

 

ANNEX E

PROHIBITED TRANSFEREES/SYNDICATION PARTNERS

Xerox

Canon

Ricoh (including Lanier, Savin and Toshiba)

Oce (including Archer)

HP

Minolta/Konica

Danka

Pitney Bowes

Global Imaging

Sharp

Lexmark

Kodak

Heidelberg

All Subsidiaries of each of the foregoing.

All other Persons entering the office imaging market reflected by the above subsequent to the
Closing Date, to the extent that both (i) such Persons have substantially equivalent market share
(with respect to the sale, lease or rental of office imaging and related equipment) to any of the
Persons set forth above, and (ii) IKON delivers to GE the name of such Person not less than 90 days
prior to the date such Person is deemed to be included in this Annex E.

 

 

SCHEDULE 1

OTHER AGREEMENTS

          SECTION 1 Residual Sharing. (a) (i) During the period from the Original Effective
Date through the end of the Term, IKON shall, as provided in Section 6.2, make available to
GE for GE’s sale or other disposition of Off-Lease Equipment and Defaulted Equipment, IKON’s retail
remarketing channel, including by offering such Equipment for sale through the sales or other
similar personnel of the IKON Companies on a non-discriminatory basis. In consideration for such
agreement and in consideration for IKON’s involvement in remarketing activities described in
Section 6.2, within 15 days after the end of each quarter of each Program Year during the
Term, GE shall deliver to IKON a report (the “GE Residual Report) setting forth GE’s
determination of the GE Residual Sharing Amount for such Program Year as of the end of the
immediately preceding quarter and shall, on such date, pay to IKON a portion of such GE Residual
Sharing Amount in excess of 5% of the GE Residual Base Amount for such Program Year as of the end
of the immediately preceding quarter (which shall be retained by GE for its own account) as
follows:

     (A) the positive difference (if any) of (1) an amount equal to the lesser of (x) 5% of
the applicable GE Residual Base Amount or (y) the excess of such GE Residual Sharing Amount
minus 5% of the applicable GE Residual Base Amount (the amount determined pursuant
to this clause (A)(1), the “GE Tier 1 Sharing Amount” for such Program Year)
minus (2) the GE Tier 1 Sharing Amount theretofore paid by GE in respect of such
Program Year, plus

     (B) the positive difference (if any) of (1) an amount (if positive) equal to the
product of (I) 50% times (II) the lesser of (x) such GE Residual Sharing Amount
minus 10% of the applicable GE Residual Base Amount or (y) $20 Million minus
10% of the applicable GE Residual Base Amount (the amount determined pursuant to this clause
(B)(1), the “GE Tier 2 Sharing Amount” for such Program Year) minus (2) the
GE Tier 2 Sharing Amount theretofore paid by GE in respect of such Program Year,
plus

     (C) the positive difference (if any) of (1) an amount equal to the product of (I) 70%
times (II) the amount (if any) by which such GE Residual Sharing Amount exceeds the
greater of (x) $20 Million and (y) 10% of the applicable GE Residual Base Amount (the amount
determined pursuant to this clause (C)(1), the “GE Tier 3 Sharing Amount” for such
Program Year) minus (2) the GE Tier 3 Sharing Amount theretofore paid by GE in
respect of such Program Year.

In the event that, as of the end of the last quarter of any Program Year, (i) the GE Tier 1 Sharing
Amount is less than the GE Tier 1 Sharing Amount theretofore paid by GE to IKON in respect of such
Program Year (the amount of such deficiency, the “GE Tier 1 Deficiency Amount”), (ii) the
GE Tier 2 Sharing Amount is less than the GE Tier 2 Sharing Amount theretofore paid by GE to IKON
in respect of such Program Year (the amount of such deficiency, the “GE Tier 2 Deficiency
Amount”) or (iii) the GE Tier 3 Sharing Amount is less than the GE Tier 3 Sharing Amount
theretofore paid by GE to IKON in respect of such Program Year (the amount of such

-1-

 

deficiency, the “GE Tier 3 Deficiency Amount”), then IKON shall pay to GE, within five (5)
Business Days of its receipt of the GE Residual Sharing Report, such GE Tier 1 Deficiency Amount,
GE Tier 2 Deficiency Amount and GE Tier 3 Deficiency Amount.

The “GE Residual Sharing Amount” in respect of any Program Year, as of any time,
means the positive difference (if any) of (i) the cumulative sum of the following amounts
received by GE in respect of Off-Lease Equipment during such Program Year as of such time:
(x) the GE Equipment Proceeds actually received by GE in respect of Off-Lease Equipment
less the remaining Net Book Value (if any) of the Program Financing Contract,
Program FM Stream Financing or Program EM Stream Financing to which such item of Off-Lease
Equipment related (net of any Residual otherwise to be included in the calculation of such
Net Book Value) plus (y) the Evergreen Rentals actually received by GE or GECITS
(including amounts received from an Original ABS Entity or, after the Amendment Effective
Date, a Purchased ABS Entity) in respect of the Program Financing Contract, Program FM
Stream Financing or Program FM Stream Financing to which such Off-Lease Equipment related
minus (ii) the sum of the Residuals with respect to all Off-Lease Equipment which
has been sold, re-leased or otherwise disposed of by GE or IKON during such Program Year as
of such time (such sum under this clause (ii) being referred to as the “GE Residual Base
Amount” for such Program Year as of such time).

“GE Equipment Proceeds” means, with respect to any item of Off-Lease Equipment, (a)
at any time after the Original Effective Date through (but excluding) the Systems
Facilitation Date, (i) with respect to any item of Off-Lease Equipment set forth on the
Wholesale Equipment Price List for which GE elects, pursuant to Section 6.2, to
utilize IKON to remarket, the purchase price for such Off-Lease Equipment set forth in the
Wholesale Equipment Price List (net an agreed refurbishment charge), (ii) with respect to
any item of Off-Lease Equipment which is not set forth on the Wholesale Equipment Price List
for which GE elects, pursuant to Section 6.2, to utilize IKON to remarket, $0, or
(iii) with respect to any item of Off-Lease Equipment for which GE elects to remarket (other
than through IKON) pursuant to Section 6.2 (whether or not set forth on the
Wholesale Equipment Price List), the proceeds for such Off-Lease Equipment (net of all
out-of-pocket sales, disposition and other costs and expenses (which shall be deemed to be
30% of gross sales proceeds for such Off-Lease Equipment) plus an agreed
refurbishment charge) actually received by GE (including amounts received from an Original
ABS Entity or, after the Amendment Effective Date, a Purchased ABS Entity) in respect of any
sale, re-lease, remarketing or other disposition of such Off-Lease Equipment (whether such
disposition is to the Obligor under the former Financing Contract or another third party),
and (b) at any time from and after the Systems Facilitation Date, the proceeds (net of all
out-of-pocket sales, disposition and other costs and expenses which, in the case of any such
services performed by GE or IKON, shall be deemed to be 30% of gross sales proceeds for such
Off-Lease Equipment plus an agreed refurbishment charge) actually received by GE
(including amounts received from an Original ABS Entity or, after the Amendment Effective
Date, a Purchased ABS Entity) in

-2-

 

respect of any sale, re-lease, remarketing (whether performed by IKON or GE) or other
disposition of such Off-Lease Equipment (whether such disposition is to the Obligor under
the former Financing Contract or another third party).

          (ii) During the period from the Original Effective Date through the end of the Term, GE shall
perform certain services for IKON in respect of IKON Off-Lease Equipment (including by selling or
otherwise disposing of IKON Off-Lease Equipment) on a non-discriminatory basis. In consideration
for such agreement and in consideration for GE’s involvement in remarketing activities described in
Section 6.2 and other services relating to Equipment and portfolio management relating to
IKON Off-Lease Equipment, within 15 days after the end of each quarter of each Program Year during
the Term, IKON shall deliver to GE a report (the “IKON Residual Sharing Report” setting
forth IKON’s determination of the IKON Residual Sharing Amount for such Program Year as of the end
of the immediately preceding quarter and shall, on such date, pay to GE a portion of such IKON
Residual Sharing Amount in excess of 5% of the IKON Residual Base Amount for such Program Year as
of the end of the immediately preceding quarter (which shall be retained by IKON for its own
account) as follows:

     (A) the positive difference (if any) of (1) an amount equal to the lesser of (x) 5% of
the applicable IKON Residual Base Amount or (y) the excess of such IKON Residual Sharing
Amount minus 5% of the applicable IKON Residual Base Amount (the amount determined
pursuant to this clause (A)(1), the “IKON Tier 1 Sharing Amount” for such Program
Year) minus (2) the IKON Tier 1 Sharing Amount theretofore paid by IKON in respect
of such Program Year, plus

     (B) the positive difference (if any) of (1) an amount (if positive) equal to the
product of (1) 50% times (2) the lesser of (x) such IKON Residual Sharing Amount
minus 10% of the applicable IKON Residual Base Amount or (y) $20 Million
minus 10% of the applicable IKON Residual Base Amount (the amount determined
pursuant to this clause (B)(1), the “IKON Tier 2 Sharing Amount” for such Program
Year) minus (2) the IKON Tier 2 Sharing Amount theretofore paid by IKON in respect
of such Program Year, plus

     (C) the positive difference (if any) of (1) an amount equal to the product of (1) 30%
times (2) the amount (if any) by which such IKON Residual Sharing Amount exceeds the
greater of (x) $20 Million and (y) 10% of the applicable IKON Residual Base Amount (the
amount determined pursuant to this clause (C)(1), the “IKON Tier 3 Sharing Amount”
for such Program Year) minus (2) the IKON Tier 3 Sharing Amount theretofore paid by
IKON in respect of such Program Year.

In the event that, as of the end of the last quarter of any Program Year, (i) the IKON Tier 1
Sharing Amount is less than the IKON Tier 1 Sharing Amount theretofore paid by IKON to GE in
respect of such Program Year (the amount of such deficiency, the “IKON Tier 1 Deficiency
Amount”), (ii) the IKON Tier 2 Sharing Amount is less than the IKON Tier 2 Sharing Amount
theretofore paid by IKON to GE in respect of such Program Year (the amount of such deficiency, the
“IKON Tier 2 Deficiency Amount”) or (iii) the IKON Tier 3 Sharing Amount is less than the
IKON Tier 3 Sharing Amount theretofore paid by IKON to GE in respect of such

-3-

 

Program Year (the amount of such deficiency, the “IKON Tier 3 Deficiency Amount”), then GE
shall pay to IKON, within five (5) Business Days of its receipt of the IKON Residual Sharing
Report, such IKON Tier 1 Deficiency Amount, IKON Tier 2 Deficiency Amount and IKON Tier 3
Deficiency Amount.

The “IKON Residual Sharing Amount” in respect of any Program Year, as of any time,
means the positive difference (if any) of (i) the cumulative sum of the following amounts
received by IKON in respect of IKON Off-Lease Equipment during such Program Year, as of such
time: (x) the IKON Equipment Proceeds in respect of such IKON Off-Lease Equipment
less the remaining IKON Net Book Value (if any) of the Financing Contract to which
such item of IKON Off-Lease Equipment related (net of any residual otherwise to be included
in the calculation of such IKON Net Book Value) plus (y) the IKON Evergreen Rentals
actually received by IKON (including amounts received from a Non-Purchased Securitization
Party on or prior to the Amendment Effective Date) in respect of the Financing Contract to
which such IKON Off-Lease Equipment related minus (ii) the sum of the residuals with
respect to all IKON Off-Lease Equipment which has been sold, re-leased or otherwise disposed
of by IKON or GE during such Program Year as of such time (such sum under this clause (ii)
being referred to as the “IKON Residual Base Amount” for such Program Year as of
such time).

“IKON Equipment Proceeds” means, with respect to any item of IKON Off-Lease
Equipment, (a) at any time after the Original Effective Date through (but excluding) the
Systems Facilitation Date (i) with respect to any item of IKON Off-Lease Equipment set forth
on the Wholesale Equipment Price List for which GE elects, pursuant to Section 6.2,
to utilize IKON to remarket, the purchase price for such IKON Off-Lease Equipment set forth
in the Wholesale Equipment Price List (net an agreed refurbishment charge), (ii) with
respect to any item of IKON Off-Lease Equipment which is not set forth on the Wholesale
Equipment Price List for which GE elects, pursuant to Section 6.2, to utilize IKON
to remarket, $0, or (iii) with respect to any item of IKON Off-Lease Equipment for which GE
elects to remarket (other than through IKON) pursuant to Section 6.2 (whether or not
set forth on the Wholesale Equipment Price List), the proceeds for such IKON Off-Lease
Equipment (net of all out-of-pocket sales, disposition and other costs and expenses (which
shall be deemed to be 30% of gross sales proceeds for such IKON Off-Lease Equipment)
plus an agreed refurbishment charge) actually received by GE and remitted to IKON
(for itself or, on or prior to the Amendment Effective Date, for the benefit of a
Non-Purchased Securitization Party) in respect of any sale, re-lease, remarketing or other
disposition of such IKON Off-Lease Equipment (whether such disposition is to the Obligor
under the former Financing Contract or another third party), and (b) at any time from and
after the Systems Facilitation Date, the proceeds (net of all out-of-pocket sales,
disposition and other costs and expenses which, in the case of any such services performed
by IKON or GE, shall be deemed to be 30% of gross sales proceeds for such IKON Off-Lease
Equipment plus an agreed refurbishment charge) actually received by IKON (including
amounts received from a Non-Purchased Securitization Party on or prior to the Amendment
Effective Date) in respect of any sale, re-lease, remarketing (whether performed by GE or
IKON) or other disposition of such IKON Off-Lease

-4-

 

Equipment (whether such disposition is to the Obligor under the former Financing Contract or
another third party).

          (b) (i) Within 10 Business Days after the first anniversary of any termination of the Term
(other than as a consequence of a GE Termination Event), GE shall pay to IKON 50% of the amount, if
any, by which (i) the aggregate Evergreen Rentals received by GE pursuant to Pre-Termination
Evergreen Contracts during the 12-month period following such termination of the Term exceeds (ii)
the aggregate net amortized residual, as of the date of such termination of the Term (as reflected
on the books and records of GE Capital Solutions), of the Equipment subject to such Pre-Termination
Evergreen Contracts.

          (ii) Within 10 Business Days after the first anniversary of any termination of the Term
(other than as a consequence of a IKON Termination Event), IKON shall pay to GE 50% of the amount,
if any, by which (i) the aggregate IKON Evergreen Rentals received by IKON pursuant to IKON
Pre-Termination Evergreen Contracts during the 12-month period following such termination of the
Term exceeds (ii) the aggregate net amortized residual, as of the date of such termination of the
Term (as reflected on the books and records of IKON), of the Equipment subject to such IKON
Pre-Termination Evergreen Contracts.

          (c) Within fifteen (15) days after the end of each Program Year and, after the termination of
the Program, within fifteen (15) days after each anniversary of the end of last Program Year
(and until such time as IKON or its designee purchases Program Financing Contracts, Program
Stream Financings and ABS Entities from GE pursuant to Section 11.3), GE shall deliver to
IKON its determination of the Loss Recovery Sharing Amount for such Program Year or subsequent
one-year period, and shall, on such date, pay to IKON:

          (i) an amount equal to the product of (A) the lesser of (x) such Loss Recovery Sharing
Amount or (y) $20.1 Million multiplied by (B) 68%, plus

          (ii) an amount equal to the product of (A) the amount (if any) by which such Loss
Recovery Sharing Amount exceeds $20.1 Million multiplied by (B) 15%.

The “Loss Recovery Sharing Amount” in respect of any Program Year or subsequent
one-year period means the aggregate sum of (x) all Lease Payments received by GE during such
Program Year or subsequent one-year period pursuant to any Written-Off Financing Contract,
to the extent such amounts are so received subsequent to the date such Financing Contract
has been written-off by GE, plus (y) all GE Defaulted Equipment Proceeds actually
received by GE in respect of Defaulted Equipment during such Program Year or subsequent
one-year period.

“GE Defaulted Equipment Proceeds” means, with respect to any item of Defaulted
Equipment, (a) at any time after the Original Effective Date through (but excluding) the
Systems Facilitation Date, (i) with respect to any item of Defaulted Off-Lease Equipment set
forth on the Wholesale Equipment Price List for which GE elects, pursuant to Section
6.2, to utilize IKON to remarket, the purchase price for such Defaulted Off-Lease

-5-

 

Equipment set forth in the Wholesale Equipment Price List (net an agreed refurbishment
charge), (ii) with respect to any item of Defaulted Off-Lease Equipment which is not set
forth on the Wholesale Equipment Price List for which GE elects, pursuant to Section
6.2, to utilize IKON to remarket, $0, or (iii) with respect to any item of Defaulted
Off-Lease Equipment for which GE elects to remarket (other than through IKON) pursuant to
Section 6.2 (whether or not set forth on the Wholesale Equipment Price List), the
proceeds for such Defaulted Equipment (net of all out-of-pocket sales, disposition and other
costs and expenses (which shall be deemed to be 30% of gross sales proceeds for such
Defaulted Equipment) plus an agreed refurbishment charge) actually received by IKON
and remitted to GE (for itself or for the benefit of an Original ABS Entity or, after the
Amendment Effective Date, a Purchased ABS Entity) in respect of any sale, re-lease,
remarketing or other disposition of such Defaulted Equipment (whether such disposition is to
the Obligor under the former Financing Contract or another third party), and (b) at any time
from and after the Systems Facilitation Date, the proceeds (net of all out-of-pocket sales,
disposition and other costs and expenses which, in the case of any such services performed
by GE or IKON, shall be deemed to be 30% of gross sales proceeds for such Defaulted
Equipment plus an agreed refurbishment charge) actually received by GE (including
amounts received from an Original ABS Entity or, after the Amendment Effective Date, a
Purchased ABS Entity) in respect of any sale, re-lease, remarketing (whether performed by
IKON or GE) or other disposition of such Defaulted Equipment (whether such disposition is to
the Obligor under the former Financing Contract or another third party).

          (d) Base Equipment Service Payments received by GE pursuant to any Written-Off Financing
Contract, to the extent such payments are so received subsequent to the date such Financing
Contract has been written-off by GE, shall be remitted by GE to IKON within one (1) Business Day
after such amount is received and identified by GE and the proper application thereof has been
determined by GE.

          (e) For purposes of applying the Allocation Policy and the Application Methodology to payments
received in respect of Written-Off Financing Contracts and the calculations to be made pursuant to
clauses (c) and (d) above, all future Minimum Periodic Payments (and the related Lease Payments,
Program FM Stream Financing Payments, Program EM Stream Financing Payments and Base Equipment
Service Payments) shall be deemed accelerated and to have become due and payable.

          (f) To the extent that any amounts that would otherwise be included in the calculations of the
GE Residual Sharing Amount, IKON Residual Sharing Amount or Loss Recovery Sharing Amount for any
Program Year are required to be held or applied, pursuant to the terms of the Subservicing
Agreements or any Securitization Documents to secure, repay, satisfy or discharge any obligations
of any of the ABS Entities or any Non-Purchased Securitization Party under such Securitization
Documents, such amounts shall not (to the extent required to be so applied) be so included in the
calculation of the GE Residual Sharing Amount, IKON Residual Sharing Amount or Loss Recovery
Sharing Amount (as applicable) for such Program Year (it being agreed that such amounts shall be
included in the calculation of the GE Residual Sharing Amount, IKON Residual Sharing Amount or Loss
Recovery Sharing Amount

-6-

 

for the Program Year such amounts are released to and actually received by GE or IKON (as
applicable) pursuant to the terms of the applicable Securitization Documents).

          Section 2 Distributions in Respect of Notional Loss Pool. (a) Within ten (10)
Business Days after the date that the last Acquired Financing Contract, Purchased Financing
Contract, Closing Date IKON Retained Financing Contract and Program FM Stream Financing (to the
extent purchased by GECITS pursuant to the Asset Purchase Agreement) shall have expired, been
written off or otherwise been terminated, GE shall remit to IKON an amount equal to the
then-remaining positive balance (if any) of the notional loss pool established pursuant to
Section 10.6(a) of the Program Agreement (determined after giving effect to the application
of all amounts required to be applied against the notional loss pool pursuant to Section
10.6(a) of the Program Agreement).

          (b) This Section 2 of Schedule 1 shall have no further force and effect upon
any termination or expiration of the Term and purchase by IKON of GECITS’ interests in the Program
Financing Contracts, Program Stream Financings and ABS Entities.

-7-

 

SCHEDULE 2

EXISTING OLD FACILITIES MANAGEMENT AGREEMENTS

	 	 	 	 	 
	 	 	Existing Facilities Management Agreements	 	Expiration Date
	1.
	 	 	 	 
	 
	 	 	 	 
	2.
	 	 	 	 
	 
	 	 	 	 
	3.
	 	 	 	 

-1-

 

EXHIBIT O

FORM OF PURCHASED PERSONAL PROPERTY TAX SCHEDULE

This Purchased Personal Property Tax Schedule is executed pursuant to that certain Amended and
Restated Program Agreement, dated as of the 1st day of April, 2006 (the “Agreement”), by and
between IKON OFFICE SOLUTIONS, INC. (“IKON”), and GE CAPITAL INFORMATION TECHNOLOGY SOLUTIONS, INC.
(“GECITS”).

This Schedule is dated and effective as of                     , ___(the “Transfer Date”), and
incorporates the terms and conditions of the Agreement. Capitalized terms used not otherwise
defined herein shall have the meanings ascribed thereto in the Agreement. Effective as of the
Transfer Date, this Schedule evidences the transfer, sale and conveyance of the Purchased Personal
Property Tax Receivables from IKON to GECITS relating to the Financing Contracts specified on the
spreadsheet attached as Annex I and made a part hereof.

This Schedule incorporates the information contained on the spreadsheet attached as Annex I
and made a part hereof, describing the Obligor(s) and the Financing Contract(s) and stating (i) the
aggregate Transfer Date Purchase Price and (ii) the aggregate Deferred Purchase Price with respect
to all Personal Property Tax Receivables covered thereby.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GE CAPITAL INFORMATION TECHNOLOGY	 	 	 	IKON OFFICE SOLUTIONS, INC.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	SOLUTIONS, INC.	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	 	 	 	 	Name:	 	 	 	 	 	 
	 

	 	Title:
	 	 	 	 	 	Title:	 	 	 	 	 	 

-1-

 

ANNEX I 

[Attach Spreadsheet]

-2-

 

EXHIBIT N

FORM OF PURCHASED PERSONAL PROPERTY TAX BILL OF SALE

FOR VALUE RECEIVED, IKON OFFICE SOLUTIONS, INC., and Ohio corporation (“Seller”), for good
and valuable consideration, the receipt of which is hereby acknowledged, does hereby sell and
transfer to GE CAPITAL INFORMATION TECHNOLOGY SOLUTIONS, INC., a California corporation
(“Buyer”), all of the Purchased Personal Property Tax Receivables from IKON to GECITS
relating to the Financing Contracts set forth on Annex A hereto. Capitalized terms used but not
otherwise defined herein shall have the meaning ascribed thereto in that certain Amended and
Restated Program Agreement, dated as of the 1st day of April, 2006 (the “Agreement”), by
and between Buyer and Seller.

     To have and to hold the same unto Buyer, its successors and assigns forever, absolutely and
unconditionally, and Seller does hereby bind itself, its successors and assigns, to warrant and to
forever defend the title to the Purchased Personal Property Tax Receivables conveyed by this Bill
of Sale unto Buyer, its successors and assigns, against every person whomsoever lawfully makes any
claim thereto.

     IN WITNESS WHEREOF, Seller has caused this Bill of Sale to be executed by its duly authorized
officers this ___ day of ___, 20___.

	 	 	 	 	 
	IKON OFFICE SOLUTIONS, INC.
	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 
	 	 	 	 
	 

	 	 

Title:
	 	 

 

 

EXECUTION VERSION

 

 

AMENDED AND RESTATED

PROGRAM AGREEMENT

 

by and among

GENERAL ELECTRIC CAPITAL CORPORATION,

a Delaware corporation,

GE CAPITAL INFORMATION TECHNOLOGY SOLUTIONS, INC.,

a California corporation,

and

IKON OFFICE SOLUTIONS, INC.,

an Ohio corporation

 

Dated April 1, 2006

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	Article 1.	 	PROGRAM FINANCING STRUCTURE	 	 	1	 
	 
	 	1.1.	 	Financing Structure	 	 	1	 
	Article 2.	 	MANAGEMENT OF THE PROGRAM	 	 	2	 
	 
	 	2.1.	 	Executive Committee	 	 	2	 
	 
	 	2.2.	 	Program Relationship Managers	 	 	4	 
	Article 3.	 	THE PROGRAM	 	 	4	 
	 
	 	3.1.	 	Private Label Administration	 	 	4	 
	 
	 	3.2.	 	GE as Preferred Provider	 	 	6	 
	 
	 	3.3.	 	GE Right of First Opportunity	 	 	8	 
	 
	 	3.4.	 	Sale of Equipment by IKON Companies Other Than IKON	 	 	8	 
	 
	 	3.5.	 	Federal Program	 	 	9	 
	 
	 	3.6.	 	Purchase of Personal Property Tax Receivables	 	 	9	 
	 
	 	3.7.	 	Product Reviews	 	 	9	 
	 
	 	3.8.	 	Training	 	 	9	 
	Article 4.	 	GE RATE SHEETS; CREDIT APPROVAL POLICY; RESIDUAL POLICY	 	 	9	 
	 
	 	4.1.	 	GE Rate Sheets; Changes	 	 	9	 
	 
	 	4.2.	 	Credit Approval Policy; Changes	 	 	11	 
	 
	 	4.3.	 	Residual Policy; Changes	 	 	12	 
	Article 5.	 	LEASE ORIGINATIONS	 	 	12	 
	 
	 	5.1.	 	Calculation and Allocations of Minimum Periodic Payment	 	 	12	 
	 
	 	5.2.	 	Application of Payments	 	 	15	 
	 
	 	5.3.	 	Remittance of Payments	 	 	15	 
	 
	 	5.4.	 	Financing Documentation; Exceptions	 	 	17	 
	 
	 	5.5.	 	Credit Approval; Preparation of Document Package	 	 	19	 
	 
	 	5.6.	 	Authorization	 	 	21	 
	 
	 	5.7.	 	Purchase and Sale of Equipment	 	 	24	 
	 
	 	5.8.	 	Rights Under Leases; Security Interest	 	 	27	 
	 
	 	5.9.	 	Syndication	 	 	29	 
	 
	 	5.10.	 	Financings with Recourse or Other Support	 	 	30	 

i

 

TABLE OF CONTENTS
(Continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	 
	 	5.11.	 	Transferred Servicing Agreements	 	 	30	 
	 
	 	5.12.	 	Execution and Assignment of Certain Program Financing Contracts	 	 	30	 
	 
	 	5.13.	 	Non-Standard Financing Contracts	 	 	31	 
	 
	 	5.14.	 	Program Reliance and Recourse	 	 	32	 
	Article 6.	 	ADMINISTRATION	 	 	32	 
	 
	 	6.1.	 	Administration of GE Portfolio	 	 	32	 
	 
	 	6.2.	 	De-Installation, Repossession and Remarketing Support	 	 	37	 
	 
	 	6.3.	 	Cancel/Upgrades; Mid-Term Buy Outs	 	 	38	 
	 
	 	6.4.	 	Administrative Support from IKON	 	 	41	 
	 
	 	6.5.	 	Evergreen Rentals	 	 	42	 
	 
	 	6.6.	 	Performance of Services; Force Majeure	 	 	43	 
	Article 7.	 	AUDIT RIGHTS	 	 	43	 
	 
	 	7.1.	 	Audit Rights	 	 	43	 
	Article 8.	 	REPRESENTATIONS, WARRANTIES AND COVENANTS	 	 	46	 
	 
	 	8.1.	 	General Representations and Warranties of IKON	 	 	46	 
	 
	 	8.2.	 	Transactional Representations and Warranties of IKON	 	 	47	 
	 
	 	8.3.	 	Covenants of IKON	 	 	49	 
	 
	 	8.4.	 	Representations and Warranties of GE and GECITS	 	 	51	 
	 
	 	8.5.	 	Covenants of GE and GECITS	 	 	52	 
	Article 9.	 	REMEDIES	 	 	53	 
	 
	 	9.1.	 	IKON Indemnities	 	 	53	 
	 
	 	9.2.	 	GE Indemnities	 	 	53	 
	 
	 	9.3.	 	Indemnification Procedure for Third Party Actions	 	 	53	 
	 
	 	9.4.	 	Purchase of Program Financing Contracts, Program Stream Financings and Equipment	 	 	55	 
	 
	 	9.5.	 	Personal Property Tax Reimbursement	 	 	56	 
	 
	 	9.6.	 	Right of Offset	 	 	56	 
	 
	 	9.7.	 	Loss Allocation	 	 	56	 
	 
	 	9.8.	 	Limitation on Damages	 	 	56	 
	Article 10.	 	FEES; OTHER AGREEMENTS; LOSS POOL	 	 	56	 

ii

 

TABLE OF CONTENTS
(Continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	 
	 	10.1.	 	Origination Fees	 	 	56	 
	 
	 	10.2.	 	Other Agreements	 	 	57	 
	 
	 	10.3.	 	Rejected Application Fee	 	 	57	 
	 
	 	10.4.	 	Year One Expense Reimbursement	 	 	57	 
	 
	 	10.5.	 	[INTENTIONALLY OMITTED]	 	 	58	 
	 
	 	10.6.	 	Loss Pool	 	 	58	 
	Article 11.	 	TERM AND TERMINATION	 	 	59	 
	 
	 	11.1.	 	Term of Agreement	 	 	59	 
	 
	 	11.2.	 	Termination Rights	 	 	59	 
	 
	 	11.3.	 	Consequences of Termination	 	 	60	 
	Article 12.	 	MISCELLANEOUS	 	 	63	 
	 
	 	12.1.	 	Confidentiality	 	 	63	 
	 
	 	12.2.	 	Amendments	 	 	64	 
	 
	 	12.3.	 	Integrated Contract	 	 	64	 
	 
	 	12.4.	 	Governing Law	 	 	64	 
	 
	 	12.5.	 	Notices	 	 	65	 
	 
	 	12.6.	 	No Assignment	 	 	66	 
	 
	 	12.7.	 	Headings	 	 	66	 
	 
	 	12.8.	 	Counterparts	 	 	66	 
	 
	 	12.9.	 	Announcements	 	 	66	 
	 
	 	12.10.	 	Severability	 	 	66	 
	 
	 	12.11.	 	Binding Effect	 	 	66	 
	 
	 	12.12.	 	Waiver of Jury Trial	 	 	66	 
	 
	 	12.13.	 	Exclusive Jurisdiction	 	 	67	 
	 
	 	12.14.	 	No Third Party Beneficiary	 	 	67	 
	 
	 	12.15.	 	Expenses	 	 	67	 
	 
	 	12.16.	 	Misdirected Payments or Communications	 	 	67	 
	 
	 	12.17.	 	Representation by Counsel; Interpretation	 	 	68	 
	 
	 	12.18.	 	No Partnership	 	 	68	 
	 
	 	12.19.	 	Further Assurances	 	 	68	 

iii

 

Table of Exhibits

	 	 	 
	Exhibit A

	 	Residual Policy
	Exhibit B

	 	Credit Approval Policy
	Exhibit C

	 	[Intentionally Omitted]
	Exhibit D

	 	Minimum Periodic Payment Worksheet
	Exhibit E

	 	Application Methodology
	Exhibit F

	 	Allocation Policy
	Exhibit G

	 	Write-Off Policy
	Exhibit H-1

	 	Form of SLG Notification Letter
	Exhibit H-2

	 	Form of SLG Consent Letter
	Exhibit I-1

	 	Form of Program Financing Contract
	Exhibit I-2

	 	Exceptions Manual
	Exhibit J

	 	GE Rate Sheets and Related Assumptions
	Exhibit K

	 	Representative Contracts
	Exhibit L

	 	Federal Assignment Agreement
	Exhibit M

	 	Non-Standard Representations, Warranties, Covenants and
Indemnities
	Exhibit N

	 	Purchased Personal Property Tax Bill of Sale.
	Exhibit O

	 	Purchased Personal Property Tax Schedule
	 
	Table of Annexes

	 
	Annex A

	 	Definitions
	Annex B

	 	Designee Notices
	Annex C

	 	IKON Syndication Partners
	Annex D

	 	ABS Agreed Warranties
	Annex E

	 	Prohibited Transferees Syndication Partners
	Annex F

	 	Responsible Officers
	Annex G

	 	Initial Personal Property Tax Receivables

	 
	Table of Schedules

	 
	Schedule 1

	 	Other Agreements
	Schedule 2

	 	Existing Facilities Management Agreements

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