Document:

<PAGE>

                                                                    EXHIBIT 10.1

================================================================================

                            THE J. M. SMUCKER COMPANY

                               ------------------

                             NOTE PURCHASE AGREEMENT

                               ------------------

                            DATED AS OF MAY 27, 2004

                $100,000,000 4.78% SENIOR NOTES DUE JUNE 1, 2014

THE HOLDERS OF THE NOTES ISSUED PURSUANT TO THIS AGREEMENT HAVE BEEN REQUESTED,
AS A COURTESY, BUT SHALL HAVE NO OBLIGATION UNDER THIS AGREEMENT, TO PROVIDE THE
COMPANY WITH NOTICE OF THEIR DISCLOSURE OF "CONFIDENTIAL INFORMATION" (AS
DEFINED IN THIS AGREEMENT) IN RESPONSE TO ANY SUBPOENA OR OTHER LEGAL PROCESS OR
IN CONNECTION WITH CERTAIN REGULATORY DISCLOSURES.

================================================================================

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                   PAGE
<S>                                                                                                <C>
1.    AUTHORIZATION OF NOTES...................................................................      1

      1.1.     Notes...........................................................................      1
      1.2.     Certain Defined Terms...........................................................      1

2.    SALE AND PURCHASE OF NOTES...............................................................      1

3.    CLOSING..................................................................................      1

4.    CONDITIONS TO CLOSING....................................................................      2

      4.1.     Representations and Warranties..................................................      2
      4.2.     Performance; No Default.........................................................      2
      4.3.     Compliance Certificates.........................................................      2
      4.4.     Opinions of Counsel.............................................................      3
      4.5.     Purchase Permitted By Applicable Law, etc.......................................      3
      4.6.     Sale of Other Notes.............................................................      3
      4.7.     Payment of Special Counsel Fees.................................................      3
      4.8.     Private Placement Number........................................................      4
      4.9.     Changes in Corporate Structure..................................................      4
      4.10.    Amendments to Existing Note Agreements..........................................      4
      4.11.    Guaranty Agreement..............................................................      4
      4.12.    Proceedings and Documents.......................................................      4

5.    REPRESENTATIONS AND WARRANTIES OF THE COMPANY............................................      4

      5.1.     Organization; Power and Authority...............................................      4
      5.2.     Authorization, etc..............................................................      5
      5.3.     Disclosure......................................................................      5
      5.4.     Organization and Ownership of Shares of Subsidiaries ...........................      5
      5.5.     Financial Statements............................................................      6
      5.6.     Compliance with Laws, Other Instruments, etc....................................      6
      5.7.     Governmental Authorizations, etc................................................      7
      5.8.     Litigation; Observance of Statutes and Orders...................................      7
      5.9.     Taxes...........................................................................      7
      5.10.    Title to Property; Leases.......................................................      8
      5.11.    Licenses, Permits, etc..........................................................      8
      5.12.    Compliance with ERISA...........................................................      8
      5.13.    Private Offering by the Company.................................................      9
      5.14.    Use of Proceeds; Margin Regulations.............................................      9
      5.15.    Existing Indebtedness...........................................................     10
      5.16.    Foreign Assets Control Regulations, etc.........................................     10
      5.17.    Status under Certain Statutes...................................................     10

6.    REPRESENTATIONS OF THE PURCHASER.........................................................     10

      6.1.     Purchase for Investment.........................................................     10
</TABLE>

                                       i
<PAGE>

<TABLE>
<S>                                                                                               <C>
      6.2.     Source of Funds.................................................................   11
      6.3.     Authorization, etc..............................................................   12

7.    INFORMATION AS TO COMPANY................................................................   13

      7.1.     Financial and Business Information..............................................   13
      7.2.     Officer's Certificate...........................................................   15
      7.3.     Inspection......................................................................   16

8.    PREPAYMENT OF THE NOTES..................................................................   16

      8.1.     Payment of Notes at Maturity....................................................   16
      8.2.     Optional Prepayments with Make-Whole Amount.....................................   16
      8.3.     Change in Control...............................................................   17
      8.4.     Allocation of Partial Prepayments...............................................   19
      8.5.     Maturity; Surrender, etc........................................................   19
      8.6.     Purchase of Notes...............................................................   19
      8.7.     Make-Whole Amount...............................................................   20

9.    AFFIRMATIVE COVENANTS....................................................................   21

      9.1.     Compliance with Law.............................................................   21
      9.2.     Insurance.......................................................................   22
      9.3.     Maintenance of Properties.......................................................   22
      9.4.     Payment of Taxes and Claims.....................................................   22
      9.5.     Corporate Existence, etc........................................................   22
      9.6.     Pari Passu Ranking..............................................................   23
      9.7.     Financial Covenant Standards....................................................   23

10.   NEGATIVE COVENANTS.......................................................................   24

      10.1.    Transactions with Affiliates....................................................   24
      10.2.    Merger, Consolidation, etc......................................................   24
      10.3.    Consolidated Net Worth..........................................................   25
      10.4.    Incurrence of Funded Debt.......................................................   25
      10.5.    Incurrence of Current Debt......................................................   26
      10.6.    Priority Debt...................................................................   26
      10.7.    Liens...........................................................................   26
      10.8.    Asset Sales.....................................................................   28
      10.9.    Sale-and-Leaseback Transactions.................................................   29
      10.10.   Line of Business................................................................   29

11.   EVENTS OF DEFAULT........................................................................   30

12.   REMEDIES ON DEFAULT, ETC.................................................................   33

      12.1.    Acceleration....................................................................   33
      12.2.    Other Remedies..................................................................   33
      12.3.    Rescission......................................................................   34
      12.4.    No Waivers or Election of Remedies, Expenses, etc...............................   34
      12.5.    Notice of Acceleration or Rescission............................................   34
</TABLE>

                                       ii
<PAGE>

<TABLE>
<S>                                                                                               <C>
13.   REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES............................................   34

      13.1.    Registration of Notes...........................................................   34
      13.2.    Transfer and Exchange of Notes..................................................   35
      13.3.    Replacement of Notes............................................................   35

14.   PAYMENTS ON NOTES........................................................................   36

      14.1.    Place of Payment................................................................   36
      14.2.    Home Office Payment.............................................................   36

15.   EXPENSES, ETC............................................................................   36

      15.1.    Transaction Expenses............................................................   36
      15.2.    Survival........................................................................   37

16.   SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.............................   37

17.   AMENDMENT AND WAIVER.....................................................................   37

      17.1.    Requirements....................................................................   37
      17.2.    Solicitation of Holders of Notes................................................   38
      17.3.    Binding Effect, etc.............................................................   38
      17.4.    Notes held by Company, etc......................................................   39

18.   NOTICES..................................................................................   39

19.   REPRODUCTION OF DOCUMENTS................................................................   39

20.   CONFIDENTIAL INFORMATION.................................................................   40

21.   MISCELLANEOUS............................................................................   41

      21.1.    Successors and Assigns..........................................................   41
      21.2.    Payments Due on Non-Business Days...............................................   42
      21.3.    Severability....................................................................   42
      21.4.    Construction....................................................................   42
      21.5.    Counterparts....................................................................   42
      21.6.    Governing Law...................................................................   42
</TABLE>

                                      iii
<PAGE>

                              SCHEDULES & EXHIBITS

<TABLE>
<S>              <C>
Schedule A       -    Information Relating to Purchasers
Schedule B       -    Defined Terms
                 -
Schedule 4.9     -    Changes in Corporate Structure
Schedule 5.3     -    Disclosure Materials
Schedule 5.4     -    Organization and Ownership of Shares of Subsidiaries
Schedule 5.5     -    Financial Statements
Schedule 5.8     -    Certain Litigation
Schedule 5.11    -    Licenses, Permits, etc.
Schedule 5.14    -    Use of Proceeds
Schedule 5.15    -    Existing Indebtedness
                 -
Exhibit 1        -    Form of 4.78% Senior Note due June 1, 2014

Exhibit 4.4(a)   -    Form of Opinion of Counsel for the Company and MIX
Exhibit 4.4(b)   -    Form of Opinion of Special Counsel for the Purchasers

Exhibit 4.11     -    Form of Guaranty Agreement

Exhibit 5.13     -    Form of Offeree Letter
</TABLE>

                                       iv
<PAGE>

                            THE J. M. SMUCKER COMPANY
                                 STRAWBERRY LANE
                              ORRVILLE, OHIO 44667

                $100,000,000 4.78% SENIOR NOTES DUE JUNE 1, 2014

                                                        Dated as of May 27, 2004

To each of the Purchasers listed
in the attached Schedule A (the "PURCHASERS"):

Ladies and Gentlemen:

      THE J. M. SMUCKER COMPANY, an Ohio corporation (the "COMPANY"), agrees
with the Purchasers as follows:

1. AUTHORIZATION OF NOTES.

      1.1. NOTES.

      The Company will authorize the issue and sale of $100,000,000 aggregate
principal amount of its 4.78% Senior Notes due June 1, 2014 (the "NOTES," such
term to include any such notes issued in substitution therefor pursuant to
Section 13 of this Agreement). The Notes shall be substantially in the form set
out in Exhibit 1, with such changes therefrom, if any, as may be approved by the
Purchasers and the Company.

      1.2. CERTAIN DEFINED TERMS.

      Certain capitalized terms used in this Agreement are defined in Schedule
B; references to a "Schedule" or an "Exhibit" are, unless otherwise specified,
to a Schedule or an Exhibit attached to this Agreement.

2. SALE AND PURCHASE OF NOTES.

      Subject to the terms and conditions of this Agreement, the Company will
issue and sell to each Purchaser and each Purchaser will purchase from the
Company, at the Closing provided for in Section 3, Notes in the principal amount
specified opposite such Purchaser's name in Schedule A at the purchase price of
100% of the principal amount thereof. The Purchasers' obligations hereunder are
several and not joint obligations and no Purchaser shall have any liability to
any Person for the performance or non-performance by any other Purchaser
hereunder.

3. CLOSING.

      The sale and purchase of the Notes to be purchased by each of the
Purchasers shall occur at the offices of Bingham McCutchen LLP, One State
Street, Hartford, Connecticut 06103, at 10:00 a.m., local time, at a closing
(the "CLOSING") on May 27, 2004 or on such other Business Day thereafter on or
prior to August 15, 2004 as may be agreed upon by the Company and the

<PAGE>

Purchasers. At the Closing the Company will deliver to each Purchaser the Notes
to be purchased by such Purchaser in the form of a single Note (or such greater
number of Notes in denominations of at least $100,000 as such Purchaser may
request) dated the date of the Closing and registered in such Purchaser's name
(or in the name of its nominee), against delivery by such Purchaser to the
Company or its order of immediately available funds in the amount of the
purchase price therefor by wire transfer of immediately available funds for the
account of the Company to account number 2037464 at National City Bank,
Cleveland, Ohio, ABA number 041000124, Attn: The J. M. Smucker Company. If at
the Closing the Company shall fail to tender such Notes to each Purchaser as
provided above in this Section 3, or any of the conditions specified in Section
4 shall not have been fulfilled to each Purchaser's satisfaction, such Purchaser
shall, at its election, be relieved of all further obligations under this
Agreement, without thereby waiving any rights each such Purchaser may have by
reason of such failure or such nonfulfillment.

4. CONDITIONS TO CLOSING.

      Each Purchaser's obligation to purchase and pay for the Notes to be sold
to it at the Closing is subject to the fulfillment to each such Purchaser's
reasonable satisfaction, prior to or at the Closing, of the following
conditions:

      4.1. REPRESENTATIONS AND WARRANTIES.

      The representations and warranties of the Company in this Agreement shall
be correct when made and at the time of the Closing.

      4.2. PERFORMANCE; NO DEFAULT.

      Each of the Company and MIX shall have performed and complied with all
agreements and conditions contained in this Agreement required to be performed
or complied with by it prior to or at the Closing and after giving effect to the
issue and sale of the Notes (and the application of the proceeds thereof as
contemplated by Schedule 5.14) no Default or Event of Default shall have
occurred and be continuing.

      4.3. COMPLIANCE CERTIFICATES.

            (a)   Company Officer's Certificate. The Company shall have
                  delivered to each Purchaser an Officer's Certificate, dated
                  the date of the Closing, certifying that the conditions
                  specified in Sections 4.1, 4.2 and 4.9 have been fulfilled.

            (b)   Company Secretary's Certificate. The Company shall have
                  delivered to each Purchaser a certificate certifying as to the
                  resolutions attached thereto and other corporate proceedings
                  relating to the authorization, execution and delivery of the
                  Notes and this Agreement.

            (c)   MIX's Secretary's Certificate. MIX shall have delivered to
                  each Purchaser a certificate certifying as to the resolutions
                  attached thereto and other corporate or other proceedings
                  relating to the authorization,

                                       2
<PAGE>

                  execution and delivery by MIX of the Guaranty Agreement
                  delivered pursuant to Section 4.11.

      4.4. OPINIONS OF COUNSEL.

      Each Purchaser shall have received opinions in form and substance
satisfactory to it, dated the date of the Closing from

            (a)   M. Ann Harlan, General Counsel of the Company and counsel for
                  MIX, in the form set forth in Exhibit 4.4(a) (and the Company
                  hereby instructs such counsel to deliver such opinion to each
                  Purchaser), and

            (b)   Bingham McCutchen LLP, the Purchasers' special counsel in
                  connection with such transactions, in the form set forth in
                  Exhibit 4.4(b).

      4.5. PURCHASE PERMITTED BY APPLICABLE LAW, ETC.

      On the date of the Closing each Purchaser's purchase of Notes shall (a) be
permitted by the laws and regulations of each jurisdiction to which it is
subject, without recourse to provisions (such as section 1405(a)(8) of the New
York Insurance Law) permitting limited investments by insurance companies
without restriction as to the character of the particular investment, (b) not
violate any applicable law or regulation (including, without limitation,
Regulation T, U or X of the Board of Governors of the Federal Reserve System)
and (c) not subject such Purchaser to any tax, penalty or liability under or
pursuant to any applicable law or regulation, which law or regulation was not in
effect on the date hereof. If so requested, each Purchaser shall have received
an Officer's Certificate from the Company and MIX certifying as to such matters
of fact as it may reasonably specify to enable such Purchaser to determine
whether such purchase is so permitted.

      4.6. SALE OF OTHER NOTES.

      Contemporaneously with the Closing the Company shall sell to each
Purchaser and each Purchaser shall purchase the Notes to be purchased by it at
the Closing as specified in Schedule A.

      4.7. PAYMENT OF SPECIAL COUNSEL FEES.

      Without limiting the provisions of Section 15.1, the Company shall have
paid on or before the Closing the reasonable fees, charges and disbursements of
Bingham McCutchen LLP, the Purchasers' special counsel referred to in Section
4.4, to the extent reflected in a statement of such counsel rendered to the
Company at least one Business Day prior to the Closing, which statement will
include all accrued fees and disbursements of such counsel, together with an
estimate for the additional fees and disbursements of such counsel necessary to
complete the Closing and all post-closing matters relating thereto (including,
without limitation, preparation of closing files).

                                       3
<PAGE>

      4.8. PRIVATE PLACEMENT NUMBER.

      A Private Placement Number issued by Standard & Poor's CUSIP Service
Bureau (in cooperation with the Securities Valuation Office of the National
Association of Insurance Commissioners) shall have been obtained by the Company
for the Notes.

      4.9. CHANGES IN CORPORATE STRUCTURE.

      Except as specified in Schedule 4.9, neither the Company nor MIX shall
have changed its jurisdiction of incorporation or been a party to any merger or
consolidation and shall not have succeeded to all or any substantial part of the
liabilities of any other entity, at any time following the date of the most
recent financial statements referred to in Schedule 5.5.

      4.10. AMENDMENTS TO EXISTING NOTE AGREEMENTS.

      The Company shall have delivered to the Purchasers fully executed copies
of (a) that certain Second Amendment to Note Purchase Agreements, dated as of
May 27, 2004, by and among the Company and each of the Persons listed on
Schedule A thereto with respect to the 1999 Note Agreement, and (b) that certain
Second Amendment to Note Purchase Agreements dated as of May 27, 2004, by and
among the Company, and each of the Persons listed on Schedule A thereto with
respect to the 2000 Note Agreement, together with each of the other instruments
and agreements executed and/or delivered in connection therewith, each certified
as true and correct by a Responsible Officer.

      4.11. MIX GUARANTY AGREEMENT.

      MIX shall have executed and delivered to the Purchasers a guaranty
agreement, substantially in the form of Exhibit 4.11.

      4.12. PROCEEDINGS AND DOCUMENTS.

      All corporate and other proceedings in connection with the transactions
contemplated by this Agreement and all documents and instruments incident to
such transactions shall be satisfactory to each Purchaser and its special
counsel, and each Purchaser and its special counsel shall have received all such
counterpart originals or certified or other copies of such documents as such
Purchaser or its counsel may reasonably request.

5. REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

      The Company represents and warrants to each Purchaser that:

      5.1. ORGANIZATION; POWER AND AUTHORITY.

      The Company is a corporation duly organized, validly existing and in good
standing under the laws of its jurisdiction of incorporation, and is duly
qualified as a foreign corporation and is in good standing in each jurisdiction
in which such qualification is required by law, other than those jurisdictions
as to which the failure to be so qualified or in good standing would not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. The

                                       4
<PAGE>

Company has the corporate power and authority to own or hold under lease the
properties it purports to own or hold under lease, to transact the business it
transacts and proposes to transact, to execute and deliver this Agreement and
the Notes and to perform the provisions hereof and thereof.

      5.2. AUTHORIZATION, ETC.

            (a)   This Agreement and the Notes have been duly authorized by all
                  necessary corporate action on the part of the Company, and
                  this Agreement constitutes, and upon execution and delivery
                  thereof each Note will constitute, a legal, valid and binding
                  obligation of the Company enforceable against the Company in
                  accordance with its terms, except as such enforceability may
                  be limited by (i) applicable bankruptcy, insolvency,
                  reorganization, moratorium or other similar laws affecting the
                  enforcement of creditors' rights generally and (ii) general
                  principles of equity (regardless of whether such
                  enforceability is considered in a proceeding in equity or at
                  law).

            (b)   The Guaranty Agreement delivered pursuant to Section 4.11 has
                  been duly authorized by all necessary corporate action on the
                  part of MIX, and such Guaranty Agreement constitutes the
                  legal, valid and binding obligation of MIX enforceable against
                  it in accordance with its terms, except as such enforceability
                  may be limited by (i) applicable bankruptcy, insolvency,
                  reorganization, moratorium or other similar laws affecting the
                  enforcement of creditors' rights generally and (ii) general
                  principles of equity (regardless of whether such
                  enforceability is considered in a proceeding in equity or at
                  law).

      5.3. DISCLOSURE.

      Except as disclosed in Schedule 5.3, this Agreement, the documents,
certificates or other writings identified in Schedule 5.3 and the financial
statements listed in Schedule 5.5, taken as a whole, do not contain any untrue
statement of a material fact or omit to state any material fact necessary to
make the statements therein not misleading in light of the circumstances under
which they were made. Except as expressly described in Schedule 5.3, or in one
of the documents, certificates or other writings identified therein, or in the
financial statements listed in Schedule 5.5, since April 30, 2003, there has
been no change in the financial condition, operations, business or properties of
the Company or any of its Subsidiaries except changes that individually or in
the aggregate would not reasonably be expected to have a Material Adverse
Effect.

      5.4. ORGANIZATION AND OWNERSHIP OF SHARES OF SUBSIDIARIES .

            (a)   Schedule 5.4 is (except as noted therein) a complete and
                  correct list of the Company's Subsidiaries, showing, as to
                  each Subsidiary, the correct name thereof, the jurisdiction of
                  its organization, and the percentage of shares of

                                       5
<PAGE>

                  each class of its capital stock or similar equity interests
                  outstanding owned by the Company and each other Subsidiary.

            (b)   All of the outstanding shares of capital stock or similar
                  equity interests of each Subsidiary shown in Schedule 5.4 as
                  being owned by the Company and its Subsidiaries have been
                  validly issued, are fully paid and nonassessable and are owned
                  by the Company or another Subsidiary free and clear of any
                  Lien (except as otherwise disclosed in Schedule 5.4).

            (c)   Each Subsidiary identified in Schedule 5.4 is a corporation or
                  other legal entity duly organized, validly existing and in
                  good standing under the laws of its jurisdiction of
                  organization, and is duly qualified as a foreign corporation
                  or other legal entity and is in good standing in each
                  jurisdiction in which such qualification is required by law,
                  other than those jurisdictions as to which the failure to be
                  so qualified or in good standing would not, individually or in
                  the aggregate, reasonably be expected to have a Material
                  Adverse Effect. Each such Subsidiary has the corporate or
                  other power and authority to own or hold under lease the
                  properties it purports to own or hold under lease and to
                  transact the business it transacts and proposes to transact.

      5.5. FINANCIAL STATEMENTS.

      The Company has delivered to each Purchaser copies of the financial
statements of the Company and its Subsidiaries listed on Schedule 5.5. All of
said financial statements (including in each case the related schedules and
notes) fairly present in all material respects the consolidated financial
position of the Company and its Subsidiaries as of the respective dates
specified in such Schedule and the consolidated results of their operations and
cash flows for the respective periods so specified and have been prepared in
accordance with GAAP consistently applied throughout the periods involved except
as set forth in the notes thereto (subject, in the case of any interim financial
statements, to normal year-end adjustments).

      5.6. COMPLIANCE WITH LAWS, OTHER INSTRUMENTS, ETC.

      The execution, delivery and performance by each of the Company and MIX of
the Financing Documents to which it is a party will not:

            (a)   contravene, result in any breach of, or constitute a default
                  under, or result in the creation of any Lien in respect of any
                  property of the Company or any Subsidiary under, any
                  indenture, mortgage, deed of trust, loan, purchase or credit
                  agreement, lease, corporate charter or by-laws (or other
                  comparable organizational document) or any other Material
                  agreement or instrument to which the Company or any Subsidiary
                  is bound or by which the Company or any Subsidiary or any of
                  their respective properties may be bound or affected;

                                       6
<PAGE>

            (b)   conflict with or result in a breach of any of the terms,
                  conditions or provisions of any order, judgment, decree, or
                  ruling of any arbitrator or Governmental Authority applicable
                  to the Company or any Subsidiary; or

            (c)   violate any provision of any statute or other rule or
                  regulation of any Governmental Authority applicable to the
                  Company or any Subsidiary.

      5.7. GOVERNMENTAL AUTHORIZATIONS, ETC.

      Except for regular and routine filings with the Securities and Exchange
Commission, no consent, approval or authorization of, or registration, filing or
declaration with, any Governmental Authority is required in connection with the
execution, delivery or performance by (a) the Company of this Agreement or the
Notes and (b) MIX of the Guaranty Agreement delivered pursuant to Section 4.11.

      5.8. LITIGATION; OBSERVANCE OF STATUTES AND ORDERS.

            (a)   Except as disclosed in Schedule 5.8, there are no actions,
                  suits or proceedings pending or, to the knowledge of the
                  Company, threatened against or affecting the Company or any
                  Subsidiary or any property of the Company or any Subsidiary in
                  any court or before any arbitrator of any kind or before or by
                  any Governmental Authority that, individually or in the
                  aggregate, would reasonably be expected to have a Material
                  Adverse Effect.

            (b)   Neither the Company nor any Subsidiary is in default under any
                  order, judgment, decree or ruling of any court, arbitrator or
                  Governmental Authority or is in violation of any applicable
                  law, ordinance, rule or regulation (including without
                  limitation Environmental Laws) of any Governmental Authority,
                  which default or violation, individually or in the aggregate,
                  would reasonably be expected to have a Material Adverse
                  Effect.

      5.9. TAXES.

      The Company and its Subsidiaries have filed all income tax returns that
are required to have been filed in any jurisdiction, and have paid all taxes
shown to be due and payable on such returns and all other taxes and assessments
payable by them, to the extent such taxes and assessments have become due and
payable and before they have become delinquent, except for any taxes and
assessments (a) the amount of which is not individually or in the aggregate
Material or (b) the amount, applicability or validity of which is currently
being contested in good faith by appropriate proceedings and with respect to
which the Company or a Subsidiary, as the case may be, has established adequate
reserves in accordance with GAAP. The federal income tax liabilities of the
Company and its Subsidiaries have been determined by the Internal Revenue
Service and paid for all fiscal years up to and including the fiscal year ended
April 30, 2003.

                                       7
<PAGE>

      5.10. TITLE TO PROPERTY; LEASES.

      The Company and its Subsidiaries have good and sufficient title to their
respective Material properties, including all such properties reflected in the
most recent audited balance sheet referred to in Section 5.5 or purported to
have been acquired by the Company or any Subsidiary after said date (except as
sold or otherwise disposed of in the ordinary course of business), in each case
free and clear of Liens prohibited by this Agreement, except for those defects
in title and Liens that, individually or in the aggregate, would not have a
Material Adverse Effect. All Material leases are valid and subsisting and are in
full force and effect in all material respects.

      5.11. LICENSES, PERMITS, ETC.

      Except as disclosed in Schedule 5.11, the Company and its Subsidiaries own
or possess all licenses, permits, franchises, authorizations, patents,
copyrights, service marks, trademarks and trade names, or rights thereto, that
are Material, without known conflict with the rights of others, except for those
conflicts that, individually or in the aggregate, would not have a Material
Adverse Effect.

      5.12. COMPLIANCE WITH ERISA.

            (a)   The Company and each ERISA Affiliate have operated and
                  administered each Plan in compliance with all applicable laws
                  except for such instances of noncompliance as have not
                  resulted in and could not reasonably be expected to result in
                  a Material Adverse Effect. Neither the Company nor any ERISA
                  Affiliate has incurred any liability pursuant to Title I or IV
                  of ERISA or the penalty or excise tax provisions of the Code
                  relating to employee benefit plans (as defined in section 3 of
                  ERISA), and no event, transaction or condition has occurred or
                  exists that would reasonably be expected to result in the
                  incurrence of any such liability by the Company or any ERISA
                  Affiliate, or in the imposition of any Lien on any of the
                  rights, properties or assets of the Company or any ERISA
                  Affiliate, in either case pursuant to Title I or IV of ERISA
                  or to such penalty or excise tax provisions or to section
                  401(a)(29) or 412 of the Code, other than such liabilities or
                  Liens as would not be individually or in the aggregate
                  Material.

            (b)   The present value of the aggregate benefit liabilities under
                  each of the Plans (other than Multiemployer Plans), determined
                  as of the end of such Plan's most recently ended plan year on
                  the basis of the actuarial assumptions specified for funding
                  purposes in such Plan's most recent actuarial valuation
                  report, did not exceed the aggregate current value of the
                  assets of such Plan allocable to such benefit liabilities. The
                  term "benefit liabilities" has the meaning specified in
                  section 4001 of ERISA and the terms "current value" and
                  "present value" have the meaning specified in section 3 of
                  ERISA.

                                       8
<PAGE>

            (c)   The Company and its ERISA Affiliates have not incurred
                  withdrawal liabilities (and are not subject to contingent
                  withdrawal liabilities) under section 4201 or 4204 of ERISA in
                  respect of Multiemployer Plans that individually or in the
                  aggregate are Material.

            (d)   The expected postretirement benefit obligation (determined as
                  of the last day of the Company's most recently ended fiscal
                  year in accordance with Financial Accounting Standards Board
                  Statement No. 106, without regard to liabilities attributable
                  to continuation coverage mandated by section 4980B of the
                  Code) of the Company and its Subsidiaries is, as of April 30,
                  2004, $19,383,742.

            (e)   The execution and delivery of this Agreement and the issuance
                  and sale of the Notes hereunder will not involve any
                  transaction that is subject to the prohibitions of section 406
                  of ERISA or in connection with which a tax could be imposed
                  pursuant to section 4975(c)(1)(A)-(D) of the Code. The
                  representation by the Company in the first sentence of this
                  Section 5.12(e) is made in reliance upon and subject to the
                  accuracy of each Purchaser's representation in Section 6.2 as
                  to the Sources to be used to pay the purchase price of the
                  Notes to be purchased by such Purchaser.

      5.13. PRIVATE OFFERING BY THE COMPANY.

      Neither the Company nor, based solely on the letter of William Blair &
Company, L.L.C. attached hereto as Exhibit 5.13 (the "OFFEREE LETTER"), any
Person acting on its behalf, has offered the Notes or any similar Securities for
sale to, or solicited any offer to buy any of the same from, or otherwise
approached or negotiated in respect thereof with, any Person other than the
Purchasers and not more than 3 other Institutional Investors (as defined in
clause (c) of the definition of such term), each of which has been offered the
Notes at a private sale for investment. Neither the Company nor, based solely on
the Offeree Letter, any Person acting on its behalf has taken, or will take, any
action that would subject the issuance or sale of the Notes to the registration
requirements of section 5 of the Securities Act. William Blair & Company, L.L.C.
is the only Person the Company has authorized to act on its behalf in connection
with the matters referred to in this Section 5.13.

      5.14. USE OF PROCEEDS; MARGIN REGULATIONS.

      The Company will apply the proceeds of the sale of the Notes for the
purposes set forth in Schedule 5.14. None of the proceeds from the sale of the
Notes hereunder will be used, directly or indirectly, for the purpose of buying
or carrying or trading in any Securities under such circumstances as to involve
the Company in a violation of Regulation U of the Board of Governors of the
Federal Reserve System (12 CFR 221) or a violation of Regulation X of said Board
(12 CFR 224) or to involve any broker or dealer in a violation of Regulation T
of said Board (12 CFR 220). Margin stock does not constitute more than 5% of the
value of the consolidated assets of the Company and its Subsidiaries and the
Company does not have any present intention that margin stock will constitute
more than 5% of the value of such assets. As

                                       9
<PAGE>

used in this Section, the terms "margin stock" and "purpose of buying or
carrying" shall have the meanings assigned to them in said Regulation U.

      5.15. EXISTING INDEBTEDNESS.

      Except as described therein, Schedule 5.15 sets forth a complete and
correct list of all outstanding Indebtedness of the Company and its Subsidiaries
as of April 30, 2004, since which date there has been no Material change in the
amounts, interest rates, sinking funds, installment payments or maturities of
the Indebtedness of the Company or its Subsidiaries. Neither the Company nor any
Subsidiary is in default and no waiver of default is currently in effect, in the
payment of any principal or interest on any Indebtedness of the Company or such
Subsidiary and no event or condition exists with respect to any Indebtedness of
the Company or any Subsidiary the outstanding principal amount of which exceeds
$15,000,000 that would permit (or that with notice or the lapse of time, or
both, would permit) one or more Persons to cause such Indebtedness to become due
and payable before its stated maturity or before its regularly scheduled dates
of payment.

      5.16. FOREIGN ASSETS CONTROL REGULATIONS, ETC.

      Neither the sale of the Notes by the Company hereunder nor its use of the
proceeds thereof will violate the (a) Trading with the Enemy Act, as amended, or
(b) any of the foreign assets control regulations of the United States Treasury
Department (31 CFR, Subtitle B, Chapter V, as amended). Without limiting the
foregoing, neither the Company nor any Subsidiary (a) is or will become a
blocked Person described by section 1 of Executive Order 13224 of September 24,
2001, Blocking Property and Prohibiting Transactions With Persons Who Commit,
Threaten to Commit, or Support Terrorism (31 CFR Part 595 et seq.) or (b) to the
knowledge of the Company, engages or will engage in any dealings or
transactions, or is otherwise associated, with any such Person.

      5.17. STATUS UNDER CERTAIN STATUTES.

      Neither the Company nor any Subsidiary is (a) subject to regulation under
the Investment Company Act of 1940, as amended, the Public Utility Holding
Company Act of 1935, as amended, or the Federal Power Act, as amended, or (b) in
violation of the USA Patriot Act.

6. REPRESENTATIONS OF THE PURCHASER.

      6.1. PURCHASE FOR INVESTMENT.

      Each Purchaser represents that it is purchasing the Notes for its own
account or for one or more separate accounts maintained by such Purchaser or for
the account of one or more pension or trust funds and not with a view to the
distribution thereof, provided that the disposition of such Purchaser's property
shall at all times be within such Purchaser's control. Each Purchaser
understands that the Notes have not been registered under the Securities Act and
that the Company is not required to register the Notes. Each Purchaser
represents and agrees that it will not resell any Notes unless such Notes are
registered pursuant to the provisions of the Securities Act or if an exemption
from registration is available, except under circumstances where neither such
registration nor such an exemption is required by law. By the resale of any
Note, the seller

                                       10
<PAGE>

thereof, and by the acceptance of any Note, the purchaser thereof, shall be
deemed to have represented to the Company that such Note has not been sold in
violation of the Securities Act.

      6.2. SOURCE OF FUNDS.

      Each Purchaser represents that at least one of the following statements is
an accurate representation as to each source of funds (a "SOURCE") to be used by
such Purchaser to pay the purchase price of the Notes to be purchased by such
Purchaser hereunder:

            (a)   Insurance Company General Account -- the Source is an
                  "insurance company general account" (as defined in PTE 95-60
                  (60 FR 35925, issued July 12, 1995) and in respect thereof
                  each Purchaser represents that there is no "employee benefit
                  plan" (as defined in section 3(3) of ERISA and section
                  4975(e)(1) of the Code, treating as a single plan all plans
                  maintained by the same employer (and affiliates thereof as
                  defined in section V(a)(1) of PTE 95-60) or employee
                  organization or affiliate thereof) with respect to which the
                  amount of the general account reserves and liabilities of all
                  contracts held by or on behalf of such plan exceeds 10% of the
                  total reserves and liabilities of such general account as
                  determined under PTE 95-60 (exclusive of separate account
                  liabilities) plus surplus, as set forth in the National
                  Association of Insurance Commissioners' Annual Statement filed
                  with such Purchaser's state of domicile and that such
                  acquisition is eligible for and satisfies the other
                  requirements of such exemption; or

            (b)   Separate Account - the Source is a separate account:

                  (i)   10% POOLED SEPARATE ACCOUNT -- that is an insurance
                        company pooled separate account, within the meaning of
                        PTE 90-1 (issued January 29, 1990), and to the extent
                        that there is any employee benefit plan, or group of
                        plans maintained by the same employer or employee
                        organization, whose assets in such separate account
                        exceed ten percent (10%) of the assets of such separate
                        account, each Purchaser has disclosed the names of such
                        plans to the Company in writing; or

                  (ii)  IDENTIFIED PLAN ASSETS -- that is comprised of employee
                        benefit plans identified by each Purchaser in writing
                        and with respect to which the Company hereby warrants
                        and represents that, as of the date of Closing, neither
                        the Company nor any ERISA Affiliate is a "party in
                        interest" (as defined in section 3 of ERISA) or a
                        "disqualified person" (as defined in section 4975 of the
                        Code) with respect to any plan so identified; or

                  (iii) GUARANTIED SEPARATE ACCOUNT -- that is maintained solely
                        in connection with fixed contractual obligations of an
                        insurance company, under which any amounts payable, or
                        credited, to any

                                       11
<PAGE>

                        employee benefit plan having an interest in such account
                        and to any participant or beneficiary of such plan
                        (including an annuitant) are not affected in any manner
                        by the investment performance of the separate account
                        (as provided by 29 CFR Section 2510.3-101(h)(1)(iii));
                        or

            (c)   QPAM Funds -- the Source constitutes assets of an "investment
                  fund" (within the meaning of part V of PTE 84-14 (the "QPAM
                  Exemption")) managed by a "qualified professional asset
                  manager" or "QPAM" (within the meaning of part V of the QPAM
                  Exemption), no employee benefit plan's assets that are
                  included in such investment fund, when combined with the
                  assets of all other employee benefit plans established or
                  maintained by the same employer or by an affiliate (within the
                  meaning of section V(c)(1) of the QPAM Exemption) of such
                  employer or by the same employee organization and managed by
                  such QPAM, exceed twenty percent (20%) of the total client
                  assets managed by such QPAM, the conditions of parts I(c) and
                  (g) of the QPAM Exemption are satisfied, neither the QPAM nor
                  a person controlling or controlled by the QPAM (applying the
                  definition of "control" in section V(e) of the QPAM Exemption)
                  owns a five percent (5%) or more interest in the Company and:

                  (i)   the identity of such QPAM and

                  (ii)  the names of all employee benefit plans whose assets are
                        included in such investment fund;

      have been disclosed to the Company in writing pursuant to this Section
      6.2(c); or

            (d)   Governmental Plans -- the Source is a governmental plan; or

            (e)   Identified Plans or Funds -- the Source is one or more
                  employee benefit plans, or a separate account or trust fund
                  comprised of one or more employee benefit plans, each of which
                  has been identified to the Company in writing pursuant to this
                  Section 6.2(e); or

            (f)   Exempt Plans -- the Source does not include assets of any
                  employee benefit plan, other than a plan exempt from the
                  coverage of ERISA.

As used in this Section 6.2, the terms "employee benefit plan," "governmental
plan" and "separate account" shall have the respective meanings assigned to such
terms in section 3 of ERISA.

      6.3. AUTHORIZATION, ETC.

      Each Purchaser represents that this Agreement has been duly authorized by
all necessary corporate action on such Purchaser's part, and that this Agreement
constitutes a legal, valid and binding obligation upon such Purchaser in
accordance with its terms, except as limited by (a)

                                       12
<PAGE>

applicable bankruptcy, insolvency, reorganization, moratorium or other similar
laws affecting the enforcement of creditors' rights generally and (b) general
principles of equity (regardless of whether considered in a proceeding in equity
or at law).

7. INFORMATION AS TO COMPANY.

      7.1. FINANCIAL AND BUSINESS INFORMATION.

      The Company shall deliver to each holder of Notes that is an Institutional
Investor:

            (a)   Quarterly Statements -- within 90 days (or within 10 days
                  after such earlier date as the Company's quarterly report is
                  required to be filed with the U.S. Securities and Exchange
                  Commission under the Exchange Act, with written notice of such
                  earlier filing to be delivered to each holder of Notes
                  simultaneously with such filing) after the end of each
                  quarterly fiscal period in each fiscal year of the Company
                  (other than the last quarterly fiscal period of each such
                  fiscal year), duplicate copies of,

                  (i)   a consolidated balance sheet of the Company and its
                        Subsidiaries as at the end of such quarter, and

                  (ii)  consolidated statements of income, changes in
                        shareholders' equity and cash flows of the Company and
                        its Subsidiaries, for such quarter and (in the case of
                        the second and third quarters) for the portion of the
                        fiscal year ending with such quarter,

      setting forth in each case in comparative form the figures for the
      corresponding periods in the previous fiscal year, all in reasonable
      detail, prepared in accordance with GAAP applicable to quarterly financial
      statements generally, and certified by a Senior Financial Officer as
      fairly presenting, in all material respects, the financial position of the
      companies being reported on and their results of operations and cash
      flows, subject to changes resulting from year-end adjustments, provided
      that delivery within the time period specified above of copies of the
      Company's Quarterly Report on Form 10-Q prepared in compliance with the
      requirements therefor and filed with the Securities and Exchange
      Commission shall be deemed to satisfy the requirements of this Section
      7.1(a);

            (b)   Annual Statements -- within 120 days (or within 10 days after
                  such earlier date as the Company's annual report is required
                  to be filed with the U.S. Securities and Exchange Commission
                  under the Exchange Act, with written notice of such earlier
                  filing to be delivered to each holder of Notes simultaneously
                  with such filing) after the end of each fiscal year of the
                  Company, duplicate copies of,

                  (i)   a consolidated balance sheet of the Company and its
                        Subsidiaries, as at the end of such year, and

                  (ii)  consolidated statements of income, changes in
                        shareholders' equity and cash flows of the Company and
                        its Subsidiaries, for such year,

                                       13
<PAGE>

      setting forth in each case in comparative form the figures for the
      previous fiscal year, all in reasonable detail, prepared in accordance
      with GAAP, and accompanied by an opinion thereon of independent certified
      public accountants of recognized national standing, which opinion shall
      state that such financial statements present fairly, in all material
      respects, the financial position of the companies being reported upon and
      their results of operations and cash flows and have been prepared in
      conformity with GAAP, and that the examination of such accountants in
      connection with such financial statements has been made in accordance with
      generally accepted auditing standards, and that such audit provides a
      reasonable basis for such opinion in the circumstances, provided that the
      delivery within the time period specified above of the Company's Annual
      Report on Form 10-K for such fiscal year (together with the Company's
      annual report to shareholders, if any, prepared pursuant to Rule 14a-3
      under the Exchange Act) prepared in accordance with the requirements
      therefor and filed with the Securities and Exchange Commission shall be
      deemed to satisfy the requirements of this Section 7.1(b);

            (c)   SEC and Other Reports -- promptly upon their becoming
                  available, one copy of (i) each financial statement, report,
                  notice or proxy statement sent by the Company or any
                  Subsidiary to public securities holders generally, and (ii)
                  each regular or periodic report, each registration statement
                  that shall have become effective (without exhibits except as
                  expressly requested by such holder), and each final prospectus
                  and all amendments thereto filed by the Company or any
                  Subsidiary with the Securities and Exchange Commission;

            (d)   Notice of Default or Event of Default -- promptly, and in any
                  event within five Business Days after a Responsible Officer
                  becoming aware of the existence of any Default or Event of
                  Default, a written notice specifying the nature and period of
                  existence thereof and what action the Company is taking or
                  proposes to take with respect thereto;

            (e)   ERISA Matters -- promptly, and in any event within five
                  Business Days after a Responsible Officer becoming aware of
                  any of the following, a written notice setting forth the
                  nature thereof and the action, if any, that the Company or an
                  ERISA Affiliate proposes to take with respect thereto:

                  (i)   with respect to any Plan, any reportable event, as
                        defined in section 4043(b) of ERISA and the regulations
                        thereunder (other than a reportable event of a technical
                        and routine nature which occurs as a result of a
                        transaction permitted under Section 10.8(b)), for which
                        notice thereof has not been waived pursuant to such
                        regulations as in effect on the date hereof; or

                  (ii)  the taking by the PBGC of steps to institute, or the
                        threatening by the PBGC of the institution of,
                        proceedings under section 4042 of ERISA for the
                        termination of, or the appointment of a trustee to
                        administer, any Plan, or the receipt by the Company or
                        any ERISA Affiliate of a notice from a Multiemployer
                        Plan that such action

                                       14
<PAGE>

                        has been taken by the PBGC with respect to such
                        Multiemployer Plan; or

                  (iii) any event, transaction or condition that could result in
                        the incurrence of any liability by the Company or any
                        ERISA Affiliate pursuant to Title I or IV of ERISA or
                        the penalty or excise tax provisions of the Code
                        relating to employee benefit plans, or in the imposition
                        of any Lien on any of the rights, properties or assets
                        of the Company or any ERISA Affiliate pursuant to Title
                        I or IV of ERISA or such penalty or excise tax
                        provisions, if such liability or Lien, taken together
                        with any other such liabilities or Liens then existing,
                        would reasonably be expected to have a Material Adverse
                        Effect;

            (f)   Bank Credit Agreement -- promptly, and in any event within
                  five Business Days of the execution thereof, a copy of the
                  Bank Credit Agreement, certified as true and correct by a
                  Responsible Officer;

            (g)   Acquisition -- promptly, and in any event within five Business
                  Days of the consummation of the Acquisition, evidence that
                  International Multifoods Corporation has been merged with and
                  into MIX and all of the property, real, personal and mixed, of
                  International Multifoods Corporation shall be vested in MIX;
                  and

            (h)   Requested Information -- with reasonable promptness and to the
                  extent not prohibited by applicable law, such other data and
                  information relating to the business, operations, affairs,
                  financial condition, assets or properties of the Company or
                  any of its Subsidiaries or relating to the ability of any
                  Obligor to perform its obligations under the Financing
                  Documents to which it is a party as from time to time may be
                  reasonably requested by any such holder of Notes.

      7.2. OFFICER'S CERTIFICATE.

      Each set of financial statements delivered to a holder of Notes pursuant
to Section 7.1(a) or Section 7.1(b) shall be accompanied by a certificate of a
Senior Financial Officer setting forth:

            (a)   Covenant Compliance -- the information (including detailed
                  calculations) required in order to establish whether the
                  Company was in compliance with the requirements of Section
                  10.3 through Section 10.9, inclusive, during the quarterly or
                  annual period covered by the statements then being furnished
                  (including with respect to each such Section, where
                  applicable, the calculations of the maximum or minimum amount,
                  ratio or percentage, as the case may be, permissible under the
                  terms of such Sections, and the calculation of the amount,
                  ratio or percentage then in existence); and

            (b)   Event of Default -- a statement that such officer has reviewed
                  the relevant terms hereof and has made, or caused to be made,
                  under his or her

                                       15
<PAGE>

                  supervision, a review of the transactions and conditions of
                  the Company and its Subsidiaries from the beginning of the
                  quarterly or annual period covered by the statements then
                  being furnished to the date of the certificate and that such
                  review shall not have disclosed the existence during such
                  period of any condition or event that constitutes a Default or
                  an Event of Default or, if any such condition or event existed
                  or exists (including, without limitation, any such event or
                  condition resulting from the failure of the Company or any
                  Subsidiary to comply with any Environmental Law), specifying
                  the nature and period of existence thereof and what action the
                  Company shall have taken or proposes to take with respect
                  thereto.

      7.3. INSPECTION.

      The Company shall permit the representatives of each holder of Notes that
is an Institutional Investor:

            (a)   No Default -- if no Default or Event of Default then exists,
                  at the expense of such holder and upon reasonable prior notice
                  to the Company, to visit the principal executive office of the
                  Company, to discuss the affairs, finances and accounts of the
                  Company and its Subsidiaries with the Company's officers, and,
                  with the consent of the Company (which consent will not be
                  unreasonably withheld) to visit the other offices and
                  properties of the Company and each Subsidiary, all at such
                  reasonable times and as often as may be reasonably requested
                  in writing; and

            (b)   Default -- if a Default or Event of Default then exists, at
                  the expense of the Company to visit and inspect any of the
                  offices or properties of the Company or any Subsidiary, to
                  examine all their respective books of account, records,
                  reports and other papers, to make copies and extracts
                  therefrom, and to discuss their respective affairs, finances
                  and accounts with their respective officers and independent
                  public accountants (and by this provision the Company
                  authorizes said accountants to discuss the affairs, finances
                  and accounts of the Company and its Subsidiaries), all at such
                  times and as often as may be requested.

8. PREPAYMENT OF THE NOTES.

      8.1. PAYMENT OF NOTES AT MATURITY.

      The entire outstanding principal amount of, and the interest then accrued
and unpaid on, the Notes shall be due and payable on June 1, 2014.

      8.2. OPTIONAL PREPAYMENTS WITH MAKE-WHOLE AMOUNT.

      The Company may, at its option, upon notice as provided below, prepay at
any time all, or from time to time any part of, the Notes, in an amount not less
than 5% of the aggregate principal amount of the Notes then outstanding in the
case of a partial prepayment, at 100% of

                                       16
<PAGE>

the principal amount so prepaid, plus the Make-Whole Amount determined for the
prepayment date with respect to such principal amount. The Company will give
each holder of Notes written notice of each optional prepayment under this
Section 8.2 not less than 30 days and not more than 60 days prior to the date
fixed for such prepayment. Each such notice shall specify such date, the
aggregate principal amount of the Notes to be prepaid on such date, the
principal amount of each Note held by such holder to be prepaid (determined in
accordance with Section 8.4), and the interest to be paid on the prepayment date
with respect to such principal amount being prepaid, and shall be accompanied by
a certificate of a Senior Financial Officer as to the estimated Make-Whole
Amount due in connection with such prepayment (calculated as if the date of such
notice were the date of the prepayment), setting forth the details of such
computation. Two Business Days prior to such prepayment, the Company shall
deliver to each holder of Notes a certificate of a Senior Financial Officer
specifying the calculation of such Make-Whole Amount as of the specified
prepayment date.

      8.3. CHANGE IN CONTROL.

            (a)   Notice of Change in Control or Control Event. The Company
                  will, within five Business Days after any Responsible Officer
                  has knowledge of the occurrence of any Change in Control or
                  Control Event, give written notice of such Change in Control
                  or Control Event to each holder of Notes unless notice in
                  respect of such Change in Control (or the Change in Control
                  contemplated by such Control Event) shall have been given
                  pursuant to Section 8.3(b). If a Change in Control has
                  occurred, such notice shall contain and constitute an offer to
                  prepay Notes as described in Section 8.3(c) and shall be
                  accompanied by the certificate described in Section 8.3(g).

            (b)   Condition to Company Action. The Company will not take any
                  action that consummates or finalizes a Change in Control
                  unless

                  (i)   at least 30 days prior to such action it shall have
                        given to each holder of Notes written notice containing
                        and constituting an offer to prepay Notes as described
                        in Section 8.3(c), accompanied by the certificate
                        described in Section 8.3(g), and

                  (ii)  contemporaneously with such action, it prepays all Notes
                        required to be prepaid in accordance with this Section
                        8.3.

            (c)   Offer to Prepay Notes. The offer to prepay Notes contemplated
                  by Section 8.3(a) and Section 8.3(b) shall be an offer to
                  prepay, in accordance with and subject to this Section 8.3,
                  all, but not less than all, of the Notes held by each holder
                  (in this case only, "holder" in respect of any Note registered
                  in the name of a nominee for a disclosed beneficial owner
                  shall mean such beneficial owner) on a date specified in such
                  offer (the "Proposed Prepayment Date"). If such Proposed
                  Prepayment Date is in connection with an offer contemplated by
                  Section 8.3(a), such date shall be not less than 30 days and
                  not more than 60 days after the date of such

                                       17
<PAGE>

                  offer (if the Proposed Prepayment Date shall not be specified
                  in such offer, the Proposed Prepayment Date shall be the 30th
                  day after the date of such offer).

            (d)   Acceptance. A holder of Notes may accept the offer to prepay
                  made pursuant to this Section 8.3 by causing a notice of such
                  acceptance to be delivered to the Company at least five
                  Business Days prior to the Proposed Prepayment Date. A failure
                  by a holder of Notes to respond to an offer to prepay made
                  pursuant to this Section 8.3 shall be deemed to constitute an
                  acceptance of such offer by such holder.

            (e)   Prepayment. Prepayment of the Notes to be prepaid pursuant to
                  this Section 8.3 shall be at 100% of the principal amount of
                  such Notes, plus the Make-Whole Amount determined for the date
                  of prepayment with respect to such principal amount, together
                  with interest on such Notes accrued to the date of prepayment.
                  Two Business Days preceding the date of prepayment, the
                  Company shall deliver to each holder of Notes being prepaid a
                  certificate of a Senior Financial Officer specifying the
                  calculation of the Make-Whole Amount due in connection with
                  such prepayment. The prepayment shall be made on the Proposed
                  Prepayment Date except as provided in Section 8.3(f).

            (f)   Deferral of Obligation to Purchase. The obligation of the
                  Company to prepay Notes pursuant to the offers accepted in
                  accordance with Section 8.3(d) is subject to the occurrence of
                  the Change in Control in respect of which such offers and
                  acceptances shall have been made. In the event that such
                  Change in Control does not occur on the Proposed Prepayment
                  Date in respect thereof, the prepayment shall be deferred
                  until and shall be made on the date on which such Change in
                  Control occurs. The Company shall keep each holder of Notes
                  reasonably and timely informed of:

                  (i)   any such deferral of the date of prepayment;

                  (ii)  the date on which such Change in Control and the
                        prepayment are expected to occur; and

                  (iii) any determination by the Company that efforts to effect
                        such Change in Control have ceased or been abandoned (in
                        which case the offers and acceptances made pursuant to
                        this Section 8.3 in respect of such Change in Control
                        shall be deemed rescinded).

            (g)   Officer's Certificate. Each offer to prepay the Notes pursuant
                  to this Section 8.3 shall be accompanied by a certificate,
                  executed by a Senior Financial Officer of the Company and
                  dated the date of such offer, specifying:

                  (i)   the Proposed Prepayment Date;

                                       18
<PAGE>

                  (ii)  that such offer is made pursuant to this Section 8.3;

                  (iii) the principal amount of each Note offered to be prepaid;

                  (iv)  the last date upon which the offer can be accepted or
                        rejected, and setting forth the consequences of failing
                        to provide an acceptance or rejection, as provided in
                        Section 8.3(d);

                  (v)   the estimated Make-Whole Amount, if any, due in
                        connection with such prepayment (calculated as if the
                        date of such notice were the date of the prepayment),
                        setting forth the details of such computation;

                  (vi)  the interest that would be due on each Note offered to
                        be prepaid, accrued to the Proposed Prepayment Date;

                  (vii) that the conditions of this Section 8.3 have been
                        fulfilled; and

                  (viii) in reasonable detail, the nature and date or proposed
                        date of the Change in Control.

      8.4. ALLOCATION OF PARTIAL PREPAYMENTS.

      In the case of each partial prepayment of the Notes, the principal amount
of the Notes to be prepaid shall be allocated among all of the Notes at the time
outstanding in proportion, as nearly as practicable, to the respective unpaid
principal amounts thereof not theretofore called for prepayment.

      8.5. MATURITY; SURRENDER, ETC.

      In the case of each prepayment of Notes pursuant to this Section 8, the
principal amount of each Note to be prepaid shall mature and become due and
payable on the date fixed for such prepayment, together with interest on such
principal amount accrued to such date and the applicable Make-Whole Amount, if
any. From and after such date, unless the Company shall fail to pay such
principal amount when so due and payable, together with the interest and
Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall
cease to accrue. Any Note paid or prepaid in full shall be surrendered to the
Company and cancelled and shall not be reissued, and no Note shall be issued in
lieu of any prepaid principal amount of any Note.

      8.6. PURCHASE OF NOTES.

      Except as otherwise provided in this Section 8, the Company will not and
will not permit any Affiliate to purchase, redeem, prepay, or otherwise acquire,
directly or indirectly, any of the outstanding Notes except pursuant to an offer
to purchase (which offer may or may not include the Make-Whole Amount, if any,
or any portion thereof) made by the Company or an Affiliate pro rata to the
holders of all Notes at the time outstanding upon the same terms and conditions,
provided that at the time such offer is made and after giving effect to such
purchase, no Default or Event of Default shall exist. Any such offer shall
provide each holder with sufficient

                                       19
<PAGE>

information to enable it to make an informed decision with respect to such
offer, shall contain a representation by the Company that no Default or Event of
Default exists or would exist after giving effect to such proposed purchase of
Notes, and shall remain open for at least ten Business Days. If the holders of
more than 50% of the principal amount of the Notes then outstanding accept such
offer, the Company shall promptly notify the remaining holders of such fact and
the expiration date for the acceptance by holders of Notes of such offer shall
be extended by the number of days necessary to give each such remaining holder
at least ten Business Days from its receipt of such notice to accept such offer.
The Company will promptly cancel all Notes acquired by it or any Affiliate
pursuant to any payment, prepayment or purchase of Notes pursuant to any
provision of this Agreement and no Notes may be issued in substitution or
exchange for any such Notes.

      8.7. MAKE-WHOLE AMOUNT.

      The term "Make-Whole Amount" means, with respect to any Note, an amount
equal to the excess, if any, of the Discounted Value of the Remaining Scheduled
Payments with respect to the Called Principal of such Note over the amount of
such Called Principal, provided that the Make-Whole Amount may in no event be
less than zero. For the purposes of determining the Make-Whole Amount, the
following terms have the following meanings:

            "CALLED PRINCIPAL" means, with respect to any Note, the principal of
      such Note that is to be prepaid pursuant to the terms hereof or has become
      or is declared to be immediately due and payable pursuant to Section 12.1,
      as the context requires.

            "DISCOUNTED VALUE" means, with respect to the Called Principal of
      any Note, the amount obtained by discounting all Remaining Scheduled
      Payments with respect to such Called Principal from their respective
      scheduled due dates to the Settlement Date with respect to such Called
      Principal, in accordance with accepted financial practice and at a
      discount factor (applied on the same periodic basis as that on which
      interest on the Notes is payable) equal to the Reinvestment Yield with
      respect to such Called Principal.

            "REINVESTMENT YIELD" means, with respect to the Called Principal of
      any Note, 0.50% over the yield to maturity implied by

                  (i)   the yields reported, as of 10:00 A.M. (New York City
                        time) on the second Business Day preceding the
                        Settlement Date with respect to such Called Principal,
                        on the display designated as Page "PX1" on the Bloomberg
                        Financial Market Service (or such other display as may
                        replace Page "PX1" on the Bloomberg Financial Market
                        Service) for actively traded U.S. Treasury securities
                        having a maturity equal to the Remaining Average Life of
                        such Called Principal as of such Settlement Date, or

                  (ii)  if such yields are not reported as of such time or the
                        yields reported as of such time are not ascertainable,
                        the Treasury Constant Maturity Series Yields reported,
                        for the latest day for which such yields have been so
                        reported as of the second Business Day

                                       20
<PAGE>

                        preceding the Settlement Date with respect to such
                        Called Principal, in Federal Reserve Statistical Release
                        H.15 (519) (or any comparable successor publication) for
                        actively traded U.S. Treasury securities having a
                        constant maturity equal to the Remaining Average Life of
                        such Called Principal as of such Settlement Date.

Such implied yield will be determined, if necessary, by (a) converting U.S.
Treasury bill quotations to bond-equivalent yields in accordance with accepted
financial practice and (b) interpolating linearly between (1) the actively
traded U.S. Treasury security with the duration closest to and greater than such
Remaining Average Life and (2) the actively traded U.S. Treasury security with
the duration closest to and less than such Remaining Average Life.

            "REMAINING AVERAGE LIFE" means, with respect to any Called Principal
      of any Notes, the number of years (calculated to the nearest one-twelfth
      year) obtained by dividing (i) such Called Principal into (ii) the sum of
      the products obtained by multiplying (a) the principal component of each
      Remaining Scheduled Payment with respect to such Called Principal by (b)
      the number of years (calculated to the nearest one-twelfth year) that will
      elapse between the Settlement Date with respect to such Called Principal
      and the scheduled due date of such Remaining Scheduled Payment.

            "REMAINING SCHEDULED PAYMENTS" means, with respect to the Called
      Principal of any Note, all payments of such Called Principal and interest
      thereon that would be due after the Settlement Date with respect to such
      Called Principal if no payment of such Called Principal were made prior to
      its scheduled due date, provided that if such Settlement Date is not a
      date on which interest payments are due to be made under the terms of the
      Notes, then the amount of the next succeeding scheduled interest payment
      will be reduced by the amount of interest accrued to such Settlement Date
      and required to be paid on such Settlement Date.

            "SETTLEMENT DATE" means, with respect to the Called Principal of any
      Note, the date on which such Called Principal is to be prepaid pursuant to
      the terms hereof or has become or is declared to be immediately due and
      payable pursuant to Section 12.1, as the context requires.

9. AFFIRMATIVE COVENANTS.

      The Company covenants that so long as any of the Notes are outstanding:

      9.1. COMPLIANCE WITH LAW.

      The Company will and will cause each of its Subsidiaries to comply with
all laws, ordinances or governmental rules or regulations to which each of them
is subject, including, without limitation, Environmental Laws, and will obtain
and maintain in effect all licenses, certificates, permits, franchises and other
governmental authorizations necessary to the ownership of their respective
properties or to the conduct of their respective businesses, in each case to the
extent necessary to ensure that non-compliance with such laws, ordinances or
governmental rules or regulations or failures to obtain or maintain in effect
such licenses,

                                       21
<PAGE>

certificates, permits, franchises and other governmental authorizations would
not reasonably be expected, individually or in the aggregate, to have a Material
Adverse Effect.

      9.2. INSURANCE.

      The Company will and will cause each of its Subsidiaries to maintain, with
financially sound and reputable insurers, insurance with respect to their
respective properties and businesses against such casualties and contingencies,
of such types, on such terms and in such amounts (including deductibles,
co-insurance and self-insurance, if adequate reserves are maintained with
respect thereto) so that such insurance, taken as a whole, shall be customary
for entities of established reputations engaged in the same or a similar
business and similarly situated.

      9.3. MAINTENANCE OF PROPERTIES.

      The Company will and will cause each of its Subsidiaries to maintain and
keep, or cause to be maintained and kept, their respective properties in good
repair, working order and condition (other than ordinary wear and tear), so that
the business carried on in connection therewith may be properly conducted at all
times, provided that this Section 9.3 shall not prevent the Company or any
Subsidiary from discontinuing the operation and the maintenance of any of its
properties if such discontinuance is desirable in the conduct of its business
and the Company has concluded that such discontinuance would not, individually
or in the aggregate, have a Material Adverse Effect.

      9.4. PAYMENT OF TAXES AND CLAIMS.

      The Company will and will cause each of its Subsidiaries to file all
income tax or similar tax returns required to be filed in any jurisdiction and
to pay and discharge all taxes shown to be due and payable on such returns and
all other taxes, assessments, governmental charges, or levies payable by any of
them, to the extent such taxes and assessments have become due and payable and
before they have become delinquent and all claims for which sums have become due
and payable that have or might become a Lien on properties or assets of the
Company or any Subsidiary, provided that neither the Company nor any Subsidiary
need pay any such tax or assessment or claims if (a) the amount, applicability
or validity thereof is contested by the Company or such Subsidiary on a timely
basis in good faith and in appropriate proceedings, and the Company or a
Subsidiary has established adequate reserves therefor in accordance with GAAP on
the books of the Company or such Subsidiary or (b) the nonpayment of all such
taxes and assessments in the aggregate would not reasonably be expected to have
a Material Adverse Effect.

      9.5. CORPORATE EXISTENCE, ETC.

      The Company will at all times preserve and keep in full force and effect
its corporate existence. Subject to Sections 10.2 and 10.8, the Company will at
all times preserve and keep in full force and effect the corporate existence of
each of its Subsidiaries (unless merged into the Company or a Subsidiary) and
all rights and franchises of the Company and its Subsidiaries unless, in the
good faith judgment of the Company, the termination of or failure to preserve
and keep in full force and effect such corporate existence, right or franchise
would not, individually or in the aggregate, have a Material Adverse Effect.

                                       22
<PAGE>

      9.6. PARI PASSU RANKING.

      The Notes shall at all times rank pari passu, without preference or
priority, with all other outstanding, unsecured, unsubordinated Indebtedness of
the Company, present and future, that have not been accorded preferential
rights.

      9.7. FINANCIAL COVENANT STANDARDS.

      If at any time and from time to time after the date of Closing, the
Company enters into the Bank Credit Agreement or any modification thereof, and
the Bank Credit Agreement or such modification contains one or more Financial
Covenants that are either not contained in this Agreement or are contained in
this Agreement but are more favorable to the lender or lenders under the Bank
Credit Agreement than are the terms of this Agreement to the holders of the
Notes, this Agreement shall, without any further action on the part of the
Company or any of the holders of the Notes, be deemed to be amended
automatically (effective simultaneously with the effectiveness of the Bank
Credit Agreement or such modification) to include each such additional or more
favorable Financial Covenant, unless the Required Holders provide written notice
to the Company to the contrary within 30 days after having received written
notice from the Company of the effectiveness of such additional or more
favorable Financial Covenant (in which event such Financial Covenant shall be
deemed not to have been included in this Agreement at any time). No modification
or amendment of the Bank Credit Agreement that results in any Financial Covenant
becoming less restrictive on the Company shall be effective as a modification,
amendment or waiver under this Agreement. The Company further covenants promptly
to execute and deliver at its expense (including, without limitation, the fees
and expenses of counsel for the holders of the Notes) an amendment to this
Agreement in form and substance satisfactory to the Required Holders to reflect
such additional or more favorable Financial Covenant, provided that the
execution and delivery of such amendment shall not be a precondition to the
effectiveness of such additional or more favorable Financial Covenant as
provided for in this Section 9.7. The provisions of this Section 9.7 shall apply
successively to each change in a Financial Covenant contained in the Bank Credit
Agreement.

            "FINANCIAL COVENANT" means any covenant or equivalent provision
      (including, without limitation, any default or event of default provision
      and definitions of defined terms used therein) requiring the Company:

            (a) to maintain any level of financial performance (including,
      without limitation, a specified level of net worth, total assets, cash
      flow or net income),

            (b) not to exceed any maximum level of indebtedness,

            (c) to maintain any relationship of any component of its capital
      structure to any other component thereof (including, without limitation,
      the relationship of indebtedness, senior indebtedness or subordinated
      indebtedness to total capitalization or to net worth), or

            (d) to maintain any measure of its ability to service its
      indebtedness (including, without limitation, falling below any specified
      ratio of revenues, cash flow or

                                       23
<PAGE>

      net income to interest expense, rental expense, capital expenditures
      and/or scheduled payments of indebtedness).

10. NEGATIVE COVENANTS.

      The Company covenants that so long as any of the Notes are outstanding:

      10.1. TRANSACTIONS WITH AFFILIATES.

      The Company will not, and will not permit any Subsidiary to, enter into
directly or indirectly any Material transaction or Material group of related
transactions (including, without limitation, the purchase, lease, sale or
exchange of properties of any kind or the rendering of any service) with any
Affiliate (other than the Company or another Subsidiary), except pursuant to the
reasonable requirements of the Company's or such Subsidiary's business and upon
fair and reasonable terms no less favorable to the Company or such Subsidiary
than would be obtainable in a comparable arm's-length transaction with a Person
not an Affiliate.

      10.2. MERGER, CONSOLIDATION, ETC.

The Company will not, and will not permit any Subsidiary Guarantor to,
consolidate with or merge with any other Person or convey, transfer or lease all
or substantially all of its assets in a single transaction or series of
transactions to any Person unless:

            (a)   the successor formed by such consolidation or the survivor of
                  such merger or the Person that acquires by conveyance,
                  transfer or lease substantially all of the assets of the
                  Company or such Subsidiary Guarantor, as the case may be, as
                  an entirety (the "SURVIVOR"), as the case may be, shall be a
                  solvent corporation organized and existing under the laws of
                  the United States, any state thereof or the District of
                  Columbia, and, if the Company or such Subsidiary Guarantor is
                  not the Survivor, the Survivor shall have expressly assumed in
                  writing the due and punctual payment of the principal of and
                  Make-Whole Amount, if any, and interest on all of the Notes
                  according to their tenor and the due and punctual performance
                  and observance of each covenant and condition of such Obligor
                  under the applicable Financing Documents, pursuant to such
                  agreements and instruments as shall be reasonably satisfactory
                  to the Required Holders;

            (b)   to the extent the Company is not the Survivor of such
                  transaction, each Subsidiary Guarantor shall have executed and
                  delivered to each holder of Notes its reaffirmation of its
                  obligations under its Guaranty Agreement in form and substance
                  reasonably satisfactory to the Required Holders; and

            (c)   immediately after giving effect to such transaction, no
                  Default or Event of Default shall have occurred and be
                  continuing.

No such conveyance, transfer or lease of all or substantially all of the assets
of any Obligor shall have the effect of releasing such Obligor or any Survivor
that shall theretofore have become such in the manner prescribed in this Section
10.2 from its liability under the applicable Financing

                                       24
<PAGE>

Documents.

      10.3. CONSOLIDATED NET WORTH.

      The Company will not, at any time, permit Consolidated Net Worth to be
less than Two Hundred Forty Million Dollars ($240,000,000).

      10.4. INCURRENCE OF FUNDED DEBT.

      The Company will not, and will not permit any Subsidiary to, directly or
indirectly, create, incur, assume, guarantee, or otherwise become directly or
indirectly liable with respect to, any Funded Debt, except:

            (a)   the Notes;

            (b)   Funded Debt owing to the Company or a Wholly-Owned Subsidiary;

            (c)   Funded Debt outstanding on the date hereof and disclosed in
                  Schedule 5.15, and any renewals, extensions, and refundings
                  thereof so long as (i) no Default or Event of Default shall
                  exist, and (ii) there is no increase in the aggregate
                  principal amount thereof outstanding, in each case on the date
                  of any such renewal, extension or refunding; and

            (d)   additional Funded Debt so long as on the date the Company or
                  such Subsidiary becomes liable with respect to any such Funded
                  Debt and immediately after giving effect thereto and the
                  concurrent retirement of any other Funded Debt,

                  (i)   no Default or Event of Default exists,

                  (ii)  the sum of (A) Consolidated Senior Funded Debt, plus (B)
                        the Clean-Down Amount of Consolidated Current Debt, does
                        not exceed 55% of Consolidated Total Capitalization, and

                  (iii) the sum of (A) Consolidated Funded Debt, plus (B) the
                        Clean-Down Amount of Consolidated Current Debt, does not
                        exceed 65% of Consolidated Total Capitalization.

      As used in this Section 10.4, the term "CLEAN-DOWN AMOUNT OF CONSOLIDATED
CURRENT DEBT" means, at any date, the lowest average daily amount of
Consolidated Current Debt outstanding during any period of thirty (30)
consecutive days occurring in the twelve consecutive calendar months most
recently ended as of such date (or on such date if such date shall be the last
day of a calendar month).

      For the purposes of this Section 10.4, any Person becoming a Subsidiary
after the date hereof shall be deemed, at the time it becomes a Subsidiary, to
have incurred all of its then outstanding Funded Debt, and any Person extending,
renewing or refunding any Funded Debt shall be deemed to have incurred such
Funded Debt at the time of such extension, renewal or

                                       25
<PAGE>

refunding. For the avoidance of doubt, the parties hereto acknowledge and agree
that the covenant set forth in this Section 10.4 is to be applied on and as of
each date upon which the Company or any Subsidiary shall, directly or
indirectly, create, incur, assume, guarantee or otherwise become directly or
indirectly liable with respect to (or, as described in the immediately preceding
sentence, be deemed, directly or indirectly, to create, incur, assume, guarantee
or otherwise become directly or indirectly liable with respect to), any Funded
Debt.

      10.5. INCURRENCE OF CURRENT DEBT.

      The Company will not, and will not permit any Subsidiary to, directly or
indirectly, create, incur, assume, guarantee, or otherwise become directly or
indirectly liable with respect to, any Current Debt on any date unless no
Default or Event of Default shall exist on such date and there shall have been a
period of thirty (30) consecutive days occurring in the twelve consecutive
calendar months most recently ended as of such date (or on such date if such
date shall be the last day of a calendar month) on each day of which
Consolidated Current Debt shall not have been in excess of the amount of Funded
Debt that the Company and the Subsidiaries could have incurred, but did not
incur, on such day in accordance with Section 10.4(d).

      For the purposes of this Section 10.5, any Person becoming a Subsidiary
after the date hereof shall be deemed, at the time it becomes a Subsidiary, to
have incurred all of its then outstanding Current Debt, and any Person
extending, renewing or refunding any Current Debt shall be deemed to have
incurred such Current Debt at the time of such extension, renewal or refunding.
For the avoidance of doubt, the parties hereto acknowledge and agree that the
covenant set forth in this Section 10.5 is to be applied on and as of each date
upon which the Company or any Subsidiary shall, directly or indirectly, create,
incur, assume, guarantee or otherwise become directly or indirectly liable with
respect to (or, as described in the immediately preceding sentence, be deemed,
directly or indirectly, to create, incur, assume, guarantee or otherwise become
directly or indirectly liable with respect to), any Current Debt.

      10.6. PRIORITY DEBT.

      The Company will not, at any date, permit Priority Debt to exceed 25% of
Consolidated Total Capitalization, determined as of the last day of the then
most recently ended fiscal quarter of the Company (or determined as of such date
if such date shall be the last day of a fiscal quarter of the Company).

      10.7. LIENS.

      The Company will not, and will not permit any of its Subsidiaries to,
directly or indirectly create, incur, assume or permit to exist (upon the
happening of a contingency or otherwise) any Lien on or with respect to any
property or asset (including, without limitation, any document or instrument in
respect of goods or accounts receivable) of the Company or any such Subsidiary,
whether now owned or held or hereafter acquired, or any income or profits
therefrom (whether or not provision is made for the equal and ratable securing
of the Notes in accordance with the last paragraph of this Section 10.7), or
assign or otherwise convey any right to receive income or profits, except:

                                       26
<PAGE>

      (a)   Liens (other than any Lien imposed by ERISA) incurred or deposits
            made in the ordinary course of business:

            (i)   in connection with workers' compensation, unemployment
                  insurance and other types of social security or retirement
                  benefits, or

            (ii)  to secure (or to obtain letters of credit that secure) the
                  performance of tenders, statutory obligations, surety bonds,
                  bids, leases (other than Capital Leases), performance bonds,
                  purchase, construction or sales contracts and other similar
                  obligations, in each case not incurred or made in connection
                  with the borrowing of money, the obtaining of advances or
                  credit or the payment of the deferred purchase price of
                  property;

      (b)   statutory Liens of landlords and Liens of carriers, warehousemen,
            mechanics, materialmen and other similar Liens, in each case
            incurred in the ordinary course of business for sums not yet due and
            payable or the payment of which is not at the time required by
            Section 9.4;

      (c)   Liens arising from judicial attachments or judgments, or securing
            appeal bonds, and other similar Liens, provided that

            (i)   the execution or other enforcement of such Liens is
                  effectively stayed, and

            (ii)  the claims secured thereby are being actively contested in
                  good faith and adequate reserves in respect thereof have been
                  established by the Company or such Subsidiary in accordance
                  with GAAP;

      (d)   leases or subleases granted to others, easements, rights-of-way,
            restrictions and other similar charges or encumbrances, in each case
            incidental to, and not interfering with, the ordinary conduct of the
            business of the Company or any of the Subsidiaries, provided that
            such Liens do not, in the aggregate, materially impair the use of
            such property by the Company or such Subsidiary;

      (e)   Liens for taxes, assessments or other governmental charges which are
            not yet due and payable or the payment of which is not at the time
            required by Section 9.4;

      (f)   Liens on property of a Subsidiary, provided that such Liens secure
            only Debt owing to the Company or a Subsidiary; and

      (g)   other Liens not otherwise permitted by paragraphs (a) through (f) of
            this Section 10.7, so long as the Debt secured thereby can be

                                       27
<PAGE>

                  (i)   incurred under Section 10.4(d), and

                  (ii)  incurred and remain outstanding in accordance with the
                        requirements of Section 10.6.

      If, notwithstanding the prohibition contained herein, the Company shall,
or shall permit any of its Subsidiaries to, directly or indirectly create,
incur, assume or permit to exist any Lien, other than those Liens permitted by
the provisions of paragraphs (a) through (g) of this Section 10.7, it will make
or cause to be made effective provision whereby the Notes will be secured
equally and ratably with any and all other obligations thereby secured, such
security to be pursuant to agreements reasonably satisfactory to the Required
Holders and, in any such case, the Notes shall have the benefit, to the fullest
extent that, and with such priority as, the holders of the Notes may be entitled
under applicable law, of an equitable Lien on such property. Such violation of
this Section 10.7 will constitute an Event of Default, whether or not provision
is made for an equal and ratable Lien pursuant to this Section 10.7.

      10.8. ASSET SALES.

            (a)   Sale of Assets. The Company will not, and will not permit any
                  Subsidiary to, make any Asset Disposition unless:

                  (i)   in the good faith opinion of the Company, the Asset
                        Disposition is in exchange for consideration having a
                        Fair Market Value at least equal to that of the property
                        exchanged and is in the best interest of the Company or
                        such Subsidiary;

                  (ii)  immediately after giving effect to the Asset
                        Disposition, no Default or Event of Default would exist;
                        and

                  (iii) immediately after giving effect to the Asset
                        Disposition, the sum of the Disposition Values in
                        respect of all property that was the subject of any
                        Asset Disposition occurring in the period commencing
                        with the first day of the Current Four Quarter Period
                        and ending with and including the date of such Asset
                        Disposition would not exceed 15% of Consolidated Total
                        Assets as of the end of the then most recently ended
                        fiscal year of the Company. As used in this Section
                        10.8(a)(iii), the term "CURRENT FOUR QUARTER PERIOD"
                        means, as of any date, the period of four consecutive
                        fiscal quarters of the Company ending on the last day of
                        the then current fiscal quarter of the Company.

If the Company shall give written notice to the holders of the Notes prior to
consummation of any Transfer that it intends to apply the Net Proceeds Amount
arising therefrom to a Debt Prepayment Application or a Property Reinvestment
Application within 365 days after such Transfer, then such Transfer, only for
the purpose of determining compliance with subsection (iii) of this Section
10.8(a), shall be deemed not to be an Asset Disposition. If the Company shall
fail to apply such Net Proceeds Amount as stated in such notice within such
period, such failure shall constitute an Event of Default.

                                       28
<PAGE>

            (b)   Disposal of Ownership of a Subsidiary. The Company will not,
                  and will not permit any of the Subsidiaries to, Transfer any
                  shares of Subsidiary Stock (including, without limitation,
                  pursuant to any merger, consolidation or other transaction
                  specified in Section 10.2 hereof), nor will the Company permit
                  any such Subsidiary to issue or Transfer any shares of its own
                  Subsidiary Stock, provided that the foregoing restrictions do
                  not apply to:

                  (i)   the issue of directors' qualifying shares by any such
                        Subsidiary;

                  (ii)  any such Transfer of Subsidiary Stock constituting a
                        Transfer described in clause (a) of the definition of
                        "Asset Disposition"; and

                  (iii) the Transfer of all of the Subsidiary Stock of a
                        Subsidiary owned by the Company and the other
                        Subsidiaries if:

                        (A) such Transfer satisfies the requirements of Section
                  10.8(a) hereof,

                        (B) in connection with such Transfer the entire
                  investment (whether represented by stock, Debt, claims or
                  otherwise) of the Company and the other Subsidiaries in such
                  Subsidiary is sold, transferred or otherwise disposed of to a
                  Person other than (1) the Company, (2) another Subsidiary not
                  being simultaneously disposed of, or (3) an Affiliate, and

                        (C) the Subsidiary being disposed of has no continuing
                  investment in any other Subsidiary not being simultaneously
                  disposed of or in the Company.

      10.9. SALE-AND-LEASEBACK TRANSACTIONS.

      The Company will not, and will not permit any Subsidiary to, enter into or
permit to continue any Sale-and-Leaseback Transaction unless either (a) the
Attributable Debt associated therewith can be incurred and remain outstanding in
accordance with the requirements of Section 10.6 or (b) the Company shall give
written notice to the holders of the Notes prior to consummation of any such
transaction that it intends to apply the Net Proceeds Amount arising therefrom
to a Debt Prepayment Application or a Property Reinvestment Application within
365 days after such consummation, in which event such transaction, only for the
purpose of determining compliance with this Section 10.9, shall be deemed not to
be a Sale-and-Leaseback Transaction. If the Company shall fail to apply such Net
Proceeds Amount as stated in such notice within such period, such failure shall
constitute an Event of Default.

      10.10. LINE OF BUSINESS.

      The Company will not, and will not permit any of its Subsidiaries to,
engage in any business if, as a result, the general nature of the business in
which the Company and its Subsidiaries, taken as a whole, would then be engaged
would be substantially changed from the general nature of the business in which
the Company and its Subsidiaries, taken as a whole, are

                                       29
<PAGE>

engaged on the date of this Agreement as described in the Form 10-K filed for
the fiscal year ending April 30, 2003.

11. EVENTS OF DEFAULT.

      An "Event of Default" shall exist if any of the following conditions or
events shall occur and be continuing:

            (a)   the Company defaults in the payment of any principal or
                  Make-Whole Amount, if any, on any Note when the same becomes
                  due and payable, whether at maturity or at a date fixed for
                  prepayment or by declaration or otherwise; or

            (b)   the Company defaults in the payment of any interest on any
                  Note for more than ten Business Days after the same becomes
                  due and payable; or

            (c)   the Company defaults in the performance of or compliance with
                  any term contained in any one or more of Section 7.1(d) or
                  Sections 10.2 through 10.9, inclusive; or

            (d)   any Obligor defaults in the performance of or compliance with
                  any term contained herein (other than those referred to in
                  Section 11(a)), Section 11(b) or Section 11(c)) and such
                  default is not remedied within 30 days after the earlier of
                  (i) a Responsible Officer obtaining actual knowledge of such
                  default and (ii) the Company receiving written notice of such
                  default from any holder of a Note (any such written notice to
                  be identified as a "notice of default" and to refer
                  specifically to this Section 11(d)); or

            (e)   any representation or warranty made in writing by or on behalf
                  of any Obligor or by any officer of such Obligor in any
                  Financing Document or in any writing furnished in connection
                  with the transactions contemplated hereby proves to have been
                  false or incorrect in any material respect on the date as of
                  which made; or

            (f)   the Company or any Significant Subsidiary

                  (i)   is in default (as principal or as guarantor or other
                        surety) in the payment of any principal of or premium or
                        Make-Whole Amount or interest on any Indebtedness (other
                        than Indebtedness under this Agreement and the Notes)
                        that is outstanding in an aggregate principal amount of
                        at least $5,000,000 beyond any period of grace provided
                        with respect thereto (after giving effect to any
                        consents or waivers in respect thereof), or

                  (ii)  is in default in the performance of or compliance with
                        any term of any evidence of any Indebtedness in an
                        aggregate outstanding principal amount of at least
                        $15,000,000 or of any mortgage, indenture or other
                        agreement relating thereto or any other

                                       30
<PAGE>

                        condition exists, and as a consequence of such default
                        or condition such Indebtedness has become, or has been
                        declared due and payable before its stated maturity or
                        before its regularly scheduled dates of payment; or

            (g)   the Company or any Significant Subsidiary

                  (i)   is generally not paying, or admits in writing its
                        inability to pay, its debts as they become due,

                  (ii)  files, or consents by answer or otherwise to the filing
                        against it of, a petition for relief or reorganization
                        or arrangement or any other petition in bankruptcy, for
                        liquidation or to take advantage of any bankruptcy,
                        insolvency, reorganization, moratorium or other similar
                        law of any jurisdiction,

                  (iii) makes an assignment for the benefit of its creditors,

                  (iv)  consents to the appointment of a custodian, receiver,
                        trustee or other officer with similar powers with
                        respect to it or with respect to any substantial part of
                        its property,

                  (v)   is adjudicated as insolvent or to be liquidated, or

                  (vi)  takes corporate action for the purpose of any of the
                        foregoing; or

            (h)   a court or Governmental Authority of competent jurisdiction
                  enters an order appointing, without consent by the Company or
                  any of its Significant Subsidiaries, a custodian, receiver,
                  trustee or other officer with similar powers with respect to
                  it or with respect to any substantial part of its property, or
                  constituting an order for relief or approving a petition for
                  relief or reorganization or any other petition in bankruptcy
                  or for liquidation or to take advantage of any bankruptcy or
                  insolvency law of any jurisdiction, or ordering the
                  dissolution, winding-up or liquidation of the Company or any
                  of its Significant Subsidiaries, or any such petition shall be
                  filed against the Company or any of its Significant
                  Subsidiaries and such petition shall not be dismissed within
                  90 days; or

            (i)   a final judgment or judgments for the payment of money
                  aggregating in excess of $15,000,000 are rendered against one
                  or more of the Company and its Significant Subsidiaries and
                  which judgments are not, within 30 days after entry thereof,
                  bonded, discharged or stayed pending appeal, or are not
                  discharged within 30 days after the expiration of such stay;
                  or

            (j)   if

                  (i)   any Plan shall fail to satisfy the minimum funding
                        standards of ERISA or the Code for any plan year or part
                        thereof or a waiver of

                                       31
<PAGE>

                        such standards or extension of any amortization period
                        is sought or granted under section 412 of the Code,

                  (ii)  a notice of intent to terminate any Plan shall have been
                        or is reasonably expected to be filed with the PBGC or
                        the PBGC shall have instituted proceedings under ERISA
                        section 4042 to terminate or appoint a trustee to
                        administer any Plan or the PBGC shall have notified the
                        Company or any ERISA Affiliate that a Plan may become a
                        subject of any such proceedings,

                  (iii) the aggregate "amount of unfunded benefit liabilities"
                        (within the meaning of section 4001(a)(18) of ERISA)
                        under all Plans, determined in accordance with Title IV
                        of ERISA, shall exceed $15,000,000,

                  (iv)  the Company or any ERISA Affiliate shall have incurred
                        or is reasonably expected to incur any liability
                        pursuant to Title I or IV of ERISA or the penalty or
                        excise tax provisions of the Code relating to employee
                        benefit plans,

                  (v)   the Company or any ERISA Affiliate withdraws from any
                        Multiemployer Plan for which there is unfunded
                        withdrawal liability in excess of $15,000,000, or

                  (vi)  the Company or any Subsidiary establishes or amends any
                        employee welfare benefit plan that provides
                        post-employment welfare benefits in a manner that would
                        increase the liability of the Company or any Subsidiary
                        thereunder;

      and any such event or events described in clauses (i) through (vi) above,
      either individually or together with any other such event or events, would
      reasonably be expected to have a Material Adverse Effect; or

            (k)   any Subsidiary Guarantor fails or neglects to observe, perform
                  or comply with any term, provision, condition or covenant
                  contained in its respective Guaranty Agreement; or

            (i)   any Guaranty Agreement is not or ceases to be effective
                  against the applicable Subsidiary Guarantor or is alleged by
                  the Company or a Subsidiary Guarantor to be ineffective
                  against a Subsidiary Guarantor for any reason other than in
                  the event that the applicable Subsidiary Guarantor is merged
                  with and into the Company.

As used in Section 11(j), the terms "employee benefit plan" and "employee
welfare benefit plan" shall have the respective meanings assigned to such terms
in section 3 of ERISA.

                                       32
<PAGE>

12. REMEDIES ON DEFAULT, ETC.

      12.1. ACCELERATION.

            (a)   If an Event of Default with respect to the Company described
                  in paragraph (g) or (h) of Section 11 (other than an Event of
                  Default described in clause (i) of paragraph (g) or described
                  in clause (vi) of paragraph (g) by virtue of the fact that
                  such clause encompasses clause (i) of paragraph (g)) has
                  occurred, all the Notes then outstanding shall automatically
                  become immediately due and payable.

            (b)   If any other Event of Default has occurred and is continuing,
                  any holder or holders of a majority in principal amount of the
                  Notes at the time outstanding may at any time at its or their
                  option, by notice or notices to the Company, declare all the
                  Notes then outstanding to be immediately due and payable.

            (c)   If any Event of Default described in paragraph (a) or (b) of
                  Section 11 has occurred and is continuing, any holder or
                  holders of Notes at the time outstanding affected by such
                  Event of Default may at any time, at its or their option, by
                  notice or notices to the Company, declare all the Notes held
                  by it or them to be immediately due and payable.

      Upon any Notes becoming due and payable under this Section 12.1, whether
automatically or by declaration, such Notes will forthwith mature and the entire
unpaid principal amount of such Notes, plus (x) all accrued and unpaid interest
thereon and (y) the Make-Whole Amount determined in respect of such principal
amount (to the full extent permitted by applicable law), shall all be
immediately due and payable, in each and every case without presentment, demand,
protest or further notice, all of which are hereby waived. The Company
acknowledges, and the parties hereto agree, that each holder of a Note has the
right to maintain its investment in the Notes free from repayment by the Company
(except as herein specifically provided for) and that the provision for payment
of a Make-Whole Amount by the Company in the event that the Notes are prepaid or
are accelerated as a result of an Event of Default, is intended to provide
compensation for the deprivation of such right under such circumstances.

      12.2. OTHER REMEDIES.

      If any Default or Event of Default has occurred and is continuing, and
irrespective of whether any Notes have become or have been declared immediately
due and payable under Section 12.1, the holder of any Note at the time
outstanding may proceed to protect and enforce the rights of such holder by an
action at law, suit in equity or other appropriate proceeding, whether for the
specific performance of any agreement contained herein or in any Note, or for an
injunction against a violation of any of the terms hereof or thereof, or in aid
of the exercise of any power granted hereby or thereby or by law or otherwise.

                                       33
<PAGE>

      12.3. RESCISSION.

      At any time after any Notes have been declared due and payable pursuant to
clause (b) or (c) of Section 12.1, the holders of not less than 75% in principal
amount of the Notes then outstanding, by written notice to the Company, may
rescind and annul any such declaration and its consequences if (a) the Company
has paid all overdue interest on the Notes, all principal of and Make-Whole
Amount, if any, on any Notes that are due and payable and are unpaid other than
by reason of such declaration, and all interest on such overdue principal and
Make-Whole Amount, if any, and (to the extent permitted by applicable law) any
overdue interest in respect of the Notes, at the Default Rate, (b) all Events of
Default and Defaults, other than non-payment of amounts that have become due
solely by reason of such declaration, have been cured or have been waived
pursuant to Section 17, and (c) no judgment or decree has been entered for the
payment of any monies due pursuant hereto or to the Notes. No rescission and
annulment under this Section 12.3 will extend to or affect any subsequent Event
of Default or Default or impair any right consequent thereon.

      12.4. NO WAIVERS OR ELECTION OF REMEDIES, EXPENSES, ETC.

      No course of dealing and no delay on the part of any holder of any Note in
exercising any right, power or remedy shall operate as a waiver thereof or
otherwise prejudice such holder's rights, powers or remedies. No right, power or
remedy conferred by this Agreement or by any Note upon any holder thereof shall
be exclusive of any other right, power or remedy referred to herein or therein
or now or hereafter available at law, in equity, by statute or otherwise.
Without limiting the obligations of the Company under Section 15, the Company
will pay to the holder of each Note on demand such further amount as shall be
sufficient to cover all costs and expenses of such holder incurred in any
enforcement or collection under this Section 12, including, without limitation,
reasonable attorneys' fees, expenses and disbursements.

      12.5. NOTICE OF ACCELERATION OR RESCISSION.

      Whenever any Note shall be declared immediately due and payable pursuant
to Section 12.1 or any such declaration shall be rescinded or annulled pursuant
to Section 12.3, the Obligors shall forthwith give written notice thereof to the
holders of each Note at the time outstanding.

13. REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.

      13.1. REGISTRATION OF NOTES.

      The Company shall keep at its principal executive office a register for
the registration and registration of transfers of Notes. The name and address of
each holder of one or more Notes, each transfer thereof and the name and address
of each transferee of one or more Notes shall be registered in such register.
Prior to due presentment for registration of transfer, the Person in whose name
any Note shall be registered shall be deemed and treated as the owner and holder
thereof for all purposes hereof, and the Company shall not be affected by any
notice or knowledge to the contrary. The Company shall give to any holder of a
Note that is an

                                       34
<PAGE>

Institutional Investor promptly upon request therefor, a complete and correct
copy of the names and addresses of all registered holders of Notes.

      13.2. TRANSFER AND EXCHANGE OF NOTES.

      Upon surrender of any Note at the principal executive office of the
Company for registration of transfer or exchange (and in the case of a surrender
for registration of transfer, duly endorsed or accompanied by a written
instrument of transfer duly executed by the registered holder of such Note or
his attorney duly authorized in writing and accompanied by the address for
notices of each transferee of such Note or part thereof), the Company shall
execute and deliver within five Business Days, at the Company's expense (except
as provided below), one or more new Notes (as requested by the holder thereof)
in exchange therefor, in an aggregate principal amount equal to the unpaid
principal amount of the surrendered Note. Each such new Note shall be payable to
such Person as such holder may request and shall be substantially in the form of
such Note set forth in Exhibit 1. Each such new Note shall be dated and bear
interest from the date to which interest shall have been paid on the surrendered
Note or dated the date of the surrendered Note if no interest shall have been
paid thereon. The Company may require payment of a sum sufficient to cover any
stamp tax or governmental charge imposed in respect of any such transfer of
Notes. Notes shall not be transferred in denominations of less than $100,000,
provided that if necessary to enable the registration of transfer by a holder of
its entire holding of Notes, one Note may be in a denomination of less than
$100,000. Any transferee, by its acceptance of a Note registered in its name (or
the name of its nominee), shall be deemed to have made the representation set
forth in the last sentence of Section 6.1 and in Section 6.2.

      13.3. REPLACEMENT OF NOTES.

      Upon receipt by the Company of evidence reasonably satisfactory to it of
the ownership of and the loss, theft, destruction or mutilation of any Note
(which evidence shall be, in the case of an Institutional Investor, notice from
such Institutional Investor of such ownership and such loss, theft, destruction
or mutilation), and

            (a)   in the case of loss, theft or destruction, of indemnity
                  reasonably satisfactory to it (provided that if the holder of
                  such Note is, or is a nominee for, an original Purchaser or an
                  Institutional Investor, such Person's own unsecured agreement
                  of indemnity shall be deemed to be satisfactory), or

            (b)   in the case of mutilation, upon surrender and cancellation
                  thereof,

the Company at its own expense shall execute and deliver within five Business
Days, in lieu thereof, a new Note, dated and bearing interest from the date to
which interest shall have been paid on such lost, stolen, destroyed or mutilated
Note or dated the date of such lost, stolen, destroyed or mutilated Note if no
interest shall have been paid thereon.

                                       35
<PAGE>

14.      PAYMENTS ON NOTES.

      14.1. PLACE OF PAYMENT.

      Subject to Section 14.2, payments of principal, Make-Whole Amount, if any,
and interest becoming due and payable on the Notes shall be made in Orrville,
Ohio at the principal office of the Company in such jurisdiction. The Company
may at any time, by notice to each holder of a Note, change the place of payment
of the Notes so long as such place of payment shall be either the principal
office of the Company in such jurisdiction or the principal office of a bank or
trust company in such jurisdiction.

      14.2. HOME OFFICE PAYMENT.

      So long as any Purchaser or its nominee shall be the holder of any Note,
and notwithstanding anything contained in Section 14.1 or in such Note to the
contrary, the Company will pay all sums becoming due on such Note for principal,
Make-Whole Amount, if any, and interest by the method and at the address
specified for such purpose opposite such Purchaser's name in Schedule A, or by
such other method or at such other address as such Purchaser shall have from
time to time specified to the Company in writing for such purpose, without the
presentation or surrender of such Note or the making of any notation thereon,
except that upon written request of the Company made concurrently with or
reasonably promptly after payment or prepayment in full of any Note, such
Purchaser shall surrender such Note for cancellation, reasonably promptly after
any such request, to the Company at its principal executive office or at the
place of payment most recently designated by the Company pursuant to Section
14.1. Prior to any sale or other disposition of any Note held by any Purchaser
or its nominee such Purchaser will, at its election, either endorse thereon the
amount of principal paid thereon and the last date to which interest has been
paid thereon or surrender such Note to the Company in exchange for a new Note or
Notes pursuant to Section 13.2. The Company will afford the benefits of this
Section 14.2 to any Institutional Investor that is the direct or indirect
transferee of any Note purchased by such Purchaser under this Agreement and that
has made the same agreement relating to such Note as such Purchaser has made in
this Section 14.2.

15. EXPENSES, ETC.

      15.1. TRANSACTION EXPENSES.

      Whether or not the transactions contemplated hereby are consummated, the
Company will pay all out-of-pocket costs and expenses (including reasonable
attorneys' fees of a special counsel and, if reasonably required, local or other
counsel) incurred by each Purchaser or holder of a Note in connection with such
transactions and in connection with any amendments, waivers or consents under or
in respect of this Agreement, the Notes or any Guaranty Agreement (whether or
not such amendment, waiver or consent becomes effective), including, without
limitation: (a) the costs and expenses incurred in enforcing or defending (or
determining whether or how to enforce or defend) any rights under this
Agreement, the Notes or any Guaranty Agreement as against any Obligor or in
responding to any subpoena or other legal process or informal investigative
demand issued in connection with this Agreement, the Notes or any Guaranty
Agreement, or by reason of being a holder of any Note, and (b) the costs and
expenses,

                                       36
<PAGE>

including financial advisors' fees, incurred in connection with the insolvency
or bankruptcy of any Obligor or any Subsidiary or in connection with any
work-out or restructuring of the transactions contemplated hereby and by the
Notes. The Company will pay, and will save each Purchaser and each other holder
of a Note harmless from, all claims in respect of any fees, costs or expenses if
any, of brokers and finders (other than those retained by any Purchaser).

      15.2. SURVIVAL.

      The obligations of the Company under this Section 15 will survive the
payment or transfer of any Note, the enforcement, amendment or waiver of any
provision of this Agreement or the Notes, and the termination of this Agreement.

16. SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.

      All representations and warranties contained herein shall be deemed made
at and as of the date of the Closing and shall speak only as of such date. The
accuracy of such representations and warranties as at the date of the Closing
shall survive the execution and delivery of this Agreement and the Notes, the
purchase or transfer by any Purchaser or any holder of any Note or portion
thereof or interest therein and the payment of any Note, and may be relied upon
by any subsequent holder of a Note, regardless of any investigation made at any
time by or on behalf of such Purchaser or any other holder of a Note. All
statements contained in any certificate or other instrument delivered by or on
behalf of the Company pursuant to this Agreement shall be deemed representations
and warranties of the Company under this Agreement. Subject to the preceding
sentence, this Agreement, the Notes and the Guaranty Agreements embody the
entire agreement and understanding among each Purchaser, the Company and the
Subsidiary Guarantors, and supersede all prior agreements and understandings
relating to the subject matter hereof.

17. AMENDMENT AND WAIVER.

      17.1. REQUIREMENTS.

      This Agreement and the Notes may be amended, and the observance of any
term hereof or of the Notes may be waived (either retroactively or
prospectively), with (and only with) the written consent of the Company and the
Required Holders, except that (a) no amendment or waiver of any of the
provisions of Section 1, 2, 3, 4, 5 or 6 hereof, or any defined term (as it is
used therein), will be effective as to any holder unless consented to by such
holder in writing, and (b) no such amendment or waiver may, without the written
consent of the holder of each Note at the time outstanding, (i) subject to the
provisions of Section 12 relating to acceleration or rescission, change the
amount or time of any prepayment or payment of principal of, or reduce the rate
or change the time of payment or method of computation of interest or of the
Make-Whole Amount on, the Notes, (ii) change the percentage of the principal
amount of the Notes the holders of which are required to consent to any such
amendment or waiver, or (iii) amend any of Sections 8, 11(a), 11(b), 12, 17 or
20.

                                       37
<PAGE>

      17.2. SOLICITATION OF HOLDERS OF NOTES.

            (a)   Solicitation. The Company will provide each holder of the
                  Notes (irrespective of the amount of Notes then owned by it)
                  with all information that the Company reasonably believes is
                  sufficient, and all other information requested by any of the
                  holders, sufficiently far in advance of the date a decision is
                  required, to enable such holder to make an informed and
                  considered decision with respect to any proposed amendment,
                  waiver or consent in respect of any of the provisions hereof
                  or of the Notes. The Company will deliver executed or true and
                  correct copies of each amendment, waiver or consent effected
                  pursuant to the provisions of this Section 17 to each holder
                  of outstanding Notes promptly following the date on which it
                  is executed and delivered by, or receives the consent or
                  approval of, the requisite holders of Notes.

            (b)   Payment. The Company will not directly or indirectly pay or
                  cause to be paid any remuneration, whether by way of
                  supplemental or additional interest, fee or otherwise, or
                  grant any security or issue any guaranty, to any holder of
                  Notes as consideration for or as an inducement to the entering
                  into by any holder of Notes or any waiver or amendment of any
                  of the terms and provisions hereof unless such remuneration is
                  concurrently paid, or security or guaranty is concurrently
                  granted, on the same terms, ratably to each holder of Notes
                  then outstanding even if such holder did not consent to such
                  waiver or amendment.

            (c)   Scope of Consent. Any amendment or waiver made pursuant to
                  this Section 17.2 by a holder of Notes that has transferred or
                  has agreed to transfer its Notes to the Company, any
                  Subsidiary or any Affiliate and has provided or has agreed to
                  provide such amendment or waiver as a condition to such
                  transfer shall be void and of no force and effect except
                  solely as to such holder, and any amendments effected or
                  waivers granted that would not have been or would not be so
                  effected or granted but for such amendment or waiver (and the
                  amendments or waivers of all other holders of Notes that were
                  acquired under the same or similar conditions) shall be void
                  and of no force and effect, retroactive to the date such
                  amendment or waiver initially took or takes effect, except
                  solely as to such holder.

      17.3. BINDING EFFECT, ETC.

      Any amendment or waiver consented to as provided in this Section 17
applies equally to all holders of Notes and is binding upon them and upon each
future holder of any Note and upon the Company without regard to whether such
Note has been marked to indicate such amendment or waiver. No such amendment or
waiver will extend to or affect any obligation, covenant, agreement, Default or
Event of Default not expressly amended or waived or impair any right consequent
thereon. No course of dealing between the Company and the holder of any Note nor
any delay in exercising any rights hereunder or under any Note shall operate as
a waiver of any

                                       38
<PAGE>

rights of any holder of such Note. As used herein, the term "THIS AGREEMENT" and
references thereto shall mean this Agreement as it may from time to time be
amended or supplemented.

      17.4. NOTES HELD BY COMPANY, ETC.

      Solely for the purpose of determining whether the holders of the requisite
percentage of the aggregate principal amount of Notes then outstanding approved
or consented to any amendment, waiver or consent to be given under this
Agreement or the Notes, or have directed the taking of any action provided
herein or in the Notes to be taken upon the direction of the holders of a
specified percentage of the aggregate principal amount of Notes then
outstanding, Notes directly or indirectly owned by the Company or any of its
Affiliates shall be deemed not to be outstanding.

18. NOTICES.

      All notices and communications provided for hereunder shall be in writing
and sent (a) by telecopy if the sender on the same day sends a confirming copy
of such notice by a recognized overnight delivery service (charges prepaid), or
(b) by registered or certified mail with return receipt requested (postage
prepaid), or (c) by a recognized overnight delivery service (with charges
prepaid). Any such notice must be sent:

                  (i)   if to any Purchaser or its nominee, to such Purchaser or
                        its nominee at the address specified for such
                        communications in Schedule A, or at such other address
                        as such Purchaser or its nominee shall have specified to
                        the Company in writing,

                  (ii)  if to any other holder of any Note, to such holder at
                        such address as such other holder shall have specified
                        to the Company in writing, or

                  (iii) if to the Company, to the Company at its address set
                        forth at the beginning hereof to the attention of the
                        "Treasurer," with a copy to the attention of the "Legal
                        Department," or at such other address as the Company
                        shall have specified to the holder of each Note in
                        writing.

Notices under this Section 18 will be deemed given only when actually received.

19. REPRODUCTION OF DOCUMENTS.

      This Agreement and all documents relating thereto, including, without
limitation, (a) consents, waivers and modifications that may hereafter be
executed, (b) documents received by any Purchaser at the Closing (except the
Notes themselves), and (c) financial statements, certificates and other
information previously or hereafter furnished to the holders of the Notes, may
be reproduced by the holders of the Notes by any photographic, photostatic,
microfilm, microcard, miniature photographic or other similar process and the
holders of the Notes may destroy any original document so reproduced. The
Company agrees and stipulates that, to the extent permitted by applicable law,
any such reproduction shall be admissible in evidence as the

                                       39
<PAGE>

original itself in any judicial or administrative proceeding (whether or not the
original is in existence and whether or not such reproduction was made by such
holder in the regular course of business) and any enlargement, facsimile or
further reproduction of such reproduction shall likewise be admissible in
evidence. This Section 19 shall not prohibit the Company or any other holder of
Notes from contesting any such reproduction to the same extent that it could
contest the original, or from introducing evidence to demonstrate the inaccuracy
of any such reproduction.

20. CONFIDENTIAL INFORMATION.

      For the purposes of this Section 20, "CONFIDENTIAL INFORMATION" means
information delivered to any Purchaser by or on behalf of the Company or any
Subsidiary in connection with the transactions contemplated by or otherwise
pursuant to this Agreement that is proprietary in nature and that was clearly
marked or labeled or otherwise adequately identified when received by such
Purchaser as being confidential information of the Company or such Subsidiary,
provided that such term does not include information that

            (a)   was publicly known or otherwise known to such Purchaser prior
                  to the time of such disclosure,

            (b)   subsequently becomes publicly known through no act or omission
                  by such Purchaser or any Person acting on such Purchaser's
                  behalf,

            (c)   otherwise becomes known to such Purchaser other than through
                  disclosure by the Company or any Subsidiary or

            (d)   constitutes financial statements delivered to such Purchaser
                  under Section 7.1 that are otherwise publicly available.

Each Purchaser will maintain the confidentiality of such Confidential
Information in accordance with procedures adopted by such Purchaser in good
faith to protect confidential information of third parties delivered to such
Purchaser, provided that such Purchaser may deliver or disclose Confidential
Information to

                  (i)   such Purchaser's directors, officers, employees, agents,
                        attorneys and affiliates (to the extent such disclosure
                        reasonably relates to the administration of the
                        investment represented by such Purchaser's Notes and is
                        not used in connection with the analysis of any other
                        investment in the Company except in a manner that is in
                        compliance with applicable securities laws),

                  (ii)  such Purchaser's financial advisors and other
                        professional advisors who agree to hold confidential the
                        Confidential Information substantially in accordance
                        with the terms of this Section 20,

                  (iii) any other holder of any Note,

                  (iv)  any Institutional Investor to which such Purchaser sells
                        or offers to sell such Note or any part thereof or any
                        participation therein (if

                                       40
<PAGE>

                        such Person has agreed in writing prior to its receipt
                        of such Confidential Information to be bound by the
                        provisions of this Section 20),

                  (v)   any Person from which such Purchaser offers to purchase
                        any Security of the Company (if such Person has agreed
                        in writing prior to its receipt of such Confidential
                        Information to be bound by the provisions of this
                        Section 20),

                  (vi)  any federal or state regulatory authority having
                        jurisdiction over such Purchaser,

                  (vii) the National Association of Insurance Commissioners or
                        any similar organization, or any nationally recognized
                        rating agency that requires access to information about
                        such Purchaser's investment portfolio, or

                  (viii) any other Person to which such delivery or disclosure
                        may be necessary or appropriate

                        (A) to effect compliance with any law, rule, regulation
                  or order applicable to such Purchaser,

                        (B) in response to any subpoena or other legal process,

                        (C) in connection with any litigation to which such
                  Purchaser is a party or

                        (D) if an Event of Default has occurred and is
                  continuing, to the extent such Purchaser may reasonably
                  determine such delivery and disclosure to be necessary or
                  appropriate in the enforcement or for the protection of the
                  rights and remedies under its Notes, this Agreement or any
                  Guaranty Agreement.

Each holder of a Note, by its acceptance of a Note, will be deemed to have
agreed to be bound by and to be entitled to the benefits of this Section 20 as
though it were a party to this Agreement. On reasonable request by the Company
in connection with the delivery to any holder of a Note of information required
to be delivered to such holder under this Agreement or requested by such holder
(other than a holder that is a party to this Agreement or its nominee), such
holder will enter into an agreement with the Company embodying the provisions of
this Section 20.

21. MISCELLANEOUS.

      21.1. SUCCESSORS AND ASSIGNS.

      All covenants and other agreements contained in this Agreement by or on
behalf of any of the parties hereto bind and inure to the benefit of their
respective successors and assigns (including, without limitation, any subsequent
holder of a Note) whether so expressed or not.

                                       41
<PAGE>

      21.2. PAYMENTS DUE ON NON-BUSINESS DAYS.

      Anything in this Agreement or the Notes to the contrary notwithstanding,
any payment of principal of or Make-Whole Amount or interest on any Note that is
due on a date other than a Business Day shall be made on the next succeeding
Business Day without including the additional days elapsed in the computation of
the interest payable on such next succeeding Business Day.

      21.3. SEVERABILITY.

      Any provision of this Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall (to the full extent permitted by law) not invalidate or
render unenforceable such provision in any other jurisdiction.

      21.4. CONSTRUCTION.

      Each covenant contained herein shall be construed (absent express
provision to the contrary) as being independent of each other covenant contained
herein, so that compliance with any one covenant shall not (absent such an
express contrary provision) be deemed to excuse compliance with any other
covenant. Where any provision herein refers to action to be taken by any Person,
or which such Person is prohibited from taking, such provision shall be
applicable whether such action is taken directly or indirectly by such Person.

      21.5. COUNTERPARTS.

      This Agreement may be executed in any number of counterparts, each of
which shall be an original but all of which together shall constitute one
instrument. Each counterpart may consist of a number of copies hereof, each
signed by less than all, but together signed by all, of the parties hereto.

      21.6. GOVERNING LAW.

      THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE
RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK
EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE
THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK. NEXT PAGE IS SIGNATURE PAGE.]

                                       42
<PAGE>

      If each Purchaser is in agreement with the foregoing, please sign the form
of agreement on the accompanying counterpart of this Agreement and return it to
the Company, whereupon the foregoing shall become a binding agreement between
the Purchasers and the Company.

                                                    Very truly yours,

                                                    THE J. M. SMUCKER COMPANY

                                                    By: /s/ Mark R. Belgya
                                                        ------------------------
                                                    Name: Mark R. Belgya
                                                    Title: Vice President and
                                                           Treasurer

The foregoing is hereby agreed to
as of the date thereof.

THE TRAVELERS INSURANCE COMPANY

By: /s/ Denise T. Duffy
    ----------------------------
Name: Denise T. Duffy
Title: Investment Officer

THE TRAVELERS LIFE AND ANNUITY COMPANY

By: /s/ Denise T. Duffy
    ----------------------------
Name: Denise T. Duffy
Title: Investment Officer

PRIMERICA LIFE INSURANCE COMPANY

By: /s/ Denise T. Duffy
    ----------------------------
Name: Denise T. Duffy
Title: Investment Officer

CITICORP INSURANCE AND INVESTMENT TRUST
BY: TRAVELERS ASSET MANAGEMENT INTERNATIONAL COMPANY LLC

By: /s/ Denise T. Duffy
    ----------------------------
Name: Denise T. Duffy
Title: Investment Officer

NATIONAL BENEFIT LIFE INSURANCE COMPANY

By: /s/ Denise T. Duffy
    ----------------------------
Name: Denise T. Duffy
Title: Investment Officer

                   [Signature Page to Note Purchase Agreement]

<PAGE>

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

By: /s/ William S. Engelking
    ----------------------------
Name: William S. Engelking
Title: Vice President

GENERAL ELECTRIC CAPITAL ASSURANCE COMPANY
BY: PRUDENTIAL PRIVATE PLACEMENT INVESTORS, L.P., AS INVESTMENT ADVISOR
BY: PRUDENTIAL PRIVATE PLACEMENT INVESTORS, INC., ITS GENERAL PARTNER

By: /s/ William S. Engelking
    ----------------------------
Name: William S. Engelking
Title: Vice President

MINNESOTA LIFE INSURANCE COMPANY
BY: ADVANTUS CAPITAL MANAGEMENT, INC.

By: /s/ Robert W. Thompson
    ----------------------------
Name: Robert W. Thompson
Title: Vice President

TRUSTMARK LIFE INSURANCE COMPANY
BY: ADVANTUS CAPITAL MANAGEMENT, INC.

By: /s/ Robert W. Thompson
    ----------------------------
Name: Robert W. Thompson
Title: Vice President

AMERICAN FIDELITY ASSURANCE COMPANY
BY: ADVANTUS CAPITAL MANAGEMENT, INC.

By: /s/ Robert W. Thompson
    ----------------------------
Name: Robert W. Thompson
Title: Vice President

THE LAFAYETTE LIFE INSURANCE COMPANY
BY: ADVANTUS CAPITAL MANAGEMENT, INC.

By: /s/ Robert W. Thompson
    ----------------------------
Name: Robert W. Thompson
Title: Vice President

                   [Signature Page to Note Purchase Agreement]

<PAGE>

INDUSTRIAL-ALLIANCE PACIFIC LIFE INSURANCE COMPANY
BY: ADVANTUS CAPITAL MANAGEMENT, INC.

By: /s/ Robert W. Thompson
    ----------------------------
Name: Robert W. Thompson
Title: Vice President

EDUCATORS MUTUAL LIFE INSURANCE COMPANY
BY: ADVANTUS CAPITAL MANAGEMENT, INC.

By: /s/ Robert W. Thompson
    ----------------------------
Name: Robert W. Thompson
Title: Vice President

GREAT WESTERN INSURANCE COMPANY
BY: ADVANTUS CAPITAL MANAGEMENT, INC.

By: /s/ Robert W. Thompson
    ----------------------------
Name: Robert W. Thompson
Title: Vice President

MODERN WOODMEN OF AMERICA

By: /s/ Nick S. Coin
    ----------------------------
Name: Nick S. Coin
Title: Treasurer and Investment Manager

                   [Signature Page to Note Purchase Agreement]

<PAGE>

                                   SCHEDULE A

                       INFORMATION RELATING TO PURCHASERS

<TABLE>
<CAPTION>
PURCHASER NAME                                 THE TRAVELERS INSURANCE COMPANY
--------------                                 -------------------------------
<S>                                            <C>
Name in Which Note is Registered               TRAL & CO.

Note Registration Number; Principal Amount     R-1; $17,500,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   JP Morgan Chase
                                               One Chase Manhattan Plaza
                                               New York, NY  10081
                                               ABA # 021-000-021

                                               For: The Travelers Insurance Company
                                                    Consolidated Private Placement Account
                                                    Account # 910-2-587434

                                               Re: (see "Accompanying Information" below)

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        The Travelers Insurance Company
                                               242 Trumbull Street, 5th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Cashier

                                               Fax: 860-308-8556

Address for All Other Notices                  The Travelers Insurance Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Private Placements

                                               Fax: 860-308-8547

Other Instructions                             THE TRAVELERS INSURANCE COMPANY

                                               By_________________________
                                               Name:
                                               Title:

Instructions re Delivery of Notes              The Travelers Insurance Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Dan Kenney

Tax Identification Number                      06-0566090
</TABLE>

                                  Schedule A-1

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 THE TRAVELERS LIFE AND ANNUITY COMPANY
--------------                                 --------------------------------------
<S>                                            <C>
Name in Which Note is Registered               TRAL & CO.

Note Registration Number; Principal Amount     R-2; $7,500,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   JP Morgan Chase
                                               One Chase Manhattan Plaza
                                               New York, NY  10081
                                               ABA # 021-000-021
                                               For: The Travelers Insurance Company
                                                    Consolidated Private Placement Account
                                                    Account # 910-2-587434

                                               Re: (see "Accompanying Information" below)

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        The Travelers Life and Annuity Company
                                               242 Trumbull Street, 5th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Cashier

                                               Fax: 860-308-8556

Address for All Other Notices                  The Travelers Life and Annuity Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Private Placements

                                               Fax: 860-308-8547

Other Instructions                             THE TRAVELERS LIFE AND ANNUITY COMPANY

                                               By__________________________
                                               Name:
                                               Title:

Instructions re Delivery of Notes              The Travelers Insurance Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Dan Kenney

Tax Identification Number                      06-0904249
</TABLE>

                                  Schedule A-2

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 THE TRAVELERS LIFE AND ANNUITY COMPANY
--------------                                 --------------------------------------
<S>                                            <C>
Name in Which Note is Registered               TRAL & CO.

Note Registration Number; Principal Amount     R-3; $4,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   JP Morgan Chase
                                               One Chase Manhattan Plaza
                                               New York, NY  10081
                                               ABA # 021-000-021
                                               For: The Travelers Insurance Company
                                                    Separate Account TLAC
                                                    Account # 910-2-739365

                                               Re: (see "Accompanying Information" below)

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        The Travelers Life and Annuity Company
                                               242 Trumbull Street, 5th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Cashier

                                               Fax: 860-308-8556

Address for All Other Notices                  The Travelers Life and Annuity Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Private Placements

                                               Fax: 860-308-8547

Other Instructions                             THE TRAVELERS LIFE AND ANNUITY COMPANY

                                               By__________________________
                                               Name:
                                               Title:

Instructions re Delivery of Notes              The Travelers Insurance Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Dan Kenney

Tax Identification Number                      06-0904249
</TABLE>

                                  Schedule A-3

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 PRIMERICA LIFE INSURANCE COMPANY
--------------                                 --------------------------------
<S>                                            <C>
Name in Which Note is Registered               PRIMERICA LIFE INSURANCE COMPANY

Note Registration Number; Principal Amount     R-4;  $5,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   JP Morgan Chase
                                               One Chase Manhattan Plaza
                                               New York, NY  10081
                                               ABA # 021-000-021
                                               For: Primerica Life Insurance Company
                                                    Account # 910-2-790079

                                               Re:  (see "Accompanying Information" below)

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        Primerica Life Insurance Company
                                               242 Trumbull Street, 5th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Cashier

                                               Fax: 860-308-8556

Address for All Other Notices                  Primerica Life Insurance Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Private Placements

                                               Fax: 860-308-8547

Other Instructions                             PRIMERICA LIFE INSURANCE COMPANY

                                               By_________________________
                                               Name:
                                               Title:

Instructions re Delivery of Notes              The Travelers Insurance Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Dan Kenney

Tax Identification Number                      04-1590590
</TABLE>

                                  Schedule A-4

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 CITICORP INSURANCE AND INVESTMENT TRUST
--------------                                 ---------------------------------------
<S>                                            <C>
Name in Which Note is Registered               CITICORP INSURANCE AND INVESTMENT TRUST

Note Registration Number; Principal Amount     R-5; $4,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   State Street Bank and Trust Company, N.A.
                                               New York, NY
                                               ABA # 026-009-166
                                               BIC SBOSUS3N
                                               DDA # 00044008
                                               State Street Bank and Trust Company Australia Custody Clearing Account,
                                               Sydney Account # 40436501
                                               Ref: 7FGA
                                                    Citicorp Insurance and Investment Trust
                                               Re:  (see "Accompanying Information" below)

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        Citicorp Insurance and Investment Trust
                                               242 Trumbull Street, 5th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Cashier

                                               Fax: 860-308-8556

Address for All Other Notices                  Citicorp Insurance and Investment Trust
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Private Placements

                                               Fax: 860-308-8547

Other Instructions                             CITICORP INSURANCE AND INVESTMENT TRUST
                                               By:  Travelers Asset Management International Company LLC

                                               By__________________________
                                               Name:
                                               Title:

Instructions re Delivery of Notes              The Travelers Insurance Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Dan Kenney

Tax Identification Number                      None
</TABLE>

                                  Schedule A-5

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 NATIONAL BENEFIT LIFE INSURANCE COMPANY
--------------                                 ---------------------------------------
<S>                                            <C>
Name in Which Note is Registered               NATIONAL BENEFIT LIFE INSURANCE COMPANY

Note Registration Number; Principal Amount     R-6; $2,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   JP Morgan Chase
                                               One Chase Manhattan Plaza
                                               New York, NY  10081
                                               ABA # 021-000-021
                                               For: National Benefit Life Insurance Company
                                                    Account # 910-2-790384

                                               Re: (see "Accompanying Information" below)

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        National Benefit Life Insurance Company
                                               242 Trumbull Street, 5th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Cashier

                                               Fax: 860-308-8556

Address for All Other Notices                  National Benefit Life Insurance Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Private Placements

                                               Fax: 860-308-8547

Other Instructions                             NATIONAL BENEFIT LIFE INSURANCE COMPANY

                                               By___________________________
                                               Name:
                                               Title:

Instructions re Delivery of Notes              The Travelers Insurance Company
                                               242 Trumbull Street, 7th Floor
                                               Hartford, CT  06115-0449
                                               Attn: Dan Kenney

Tax Identification Number                      23-1618791
</TABLE>

                                  Schedule A-6

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
--------------                                 -------------------------------------------
<S>                                            <C>
Name in Which Note is Registered               THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

Note Registration Number; Principal Amount     R-7; $14,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   The Bank of New York
                                               New York, NY
                                               ABA #  021-000-018
                                               Account # 890-0304-391

                                               Re: Security No! INV 10502!  and
                                                   (See "Accompanying information" below)

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        The Prudential Insurance Company of America
                                               c/o Investment Operations Group
                                               Gateway Center Two, 10th Floor
                                               100 Mulberry Street
                                               Newark, NJ 07102-4077
                                               Attn:    Manager, Billings and Collections

                                               with telephonic prepayment notices to:

                                               Manager, Trade Management Group

                                               Tel: 973-367-3141
                                               Fax: 800-224-2278

Address for All Other Notices                  The Prudential Insurance Company of America
                                               c/o Prudential Capital Group
                                               Two Prudential Plaza, Suite 5600
                                               180 North Stetson Avenue
                                               Chicago, IL  60601
                                               Attn: Managing Director

Other Instructions                             THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

                                               By____________________________
                                               Name:
                                               Title: Vice President

Instructions for Delivery of Notes             The Prudential Insurance Company of America
                                               c/o Prudential Capital Group
                                               Two Prudential Plaza, Suite 5600
                                               180 North Stetson Avenue
                                               Chicago, IL  60601
                                               Attn: Armando Gamboa

Tax Identification Number                      22-1211670
</TABLE>

                                  Schedule A-7

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 GENERAL ELECTRIC CAPITAL ASSURANCE COMPANY
--------------                                 ------------------------------------------
<S>                                            <C>
Name in Which Note is Registered               HARE & CO.

Note Registration Number; Principal Amount     R-8;  $14,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   The Bank of New York
                                               ABA # 021-000-018
                                               Beneficiary: IOC566 or GLA111566
                                               Attn: PP P&I Department

                                               Ref: General Electric Capital Assurance Company - PRU
                                                    Account # 127948

                                               Re:  Security No! INV 10502!  and
                                                    (See "Accompanying information" below)

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        State Street
                                               801 Pennsylvania
                                               Kansas City, MO  64105
                                               Attn: Klaus Diem
                                               Account: General Electric Capital Assurance Company

                                               Fax: 816-691-5593
                                               Email: geam@statestreetkc.com

                                               with a copy to:

                                               Bank of New York
                                               P.O. Box 19266
                                               Newark, NJ  07195
                                               Attn: PP P&I Department
                                               Ref: General Electric Capital Assurance Company
                                                    Account # 127948
                                                    (See "Accompanying information" above)

Address for All Other Notices                  Prudential Private Placement Investors, L.P.
                                               4 Gateway Center
                                               100 Mulberry Street
                                               Newark, NJ  07102
                                               Attn: Albert Trank
                                                     Managing Director

                                               Fax:  973-624-6432

Other Instructions                             GENERAL ELECTRIC CAPITAL ASSURANCE COMPANY
                                               By: Prudential Private Placement Investors, L.P., as Investment
                                                   Advisor
                                               By: Prudential Private Placement Investors, Inc., its General
                                                   Partner

                                               By: _____________________________
                                               Name:
                                               Title: Vice President
</TABLE>

                                  Schedule A-8

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 GENERAL ELECTRIC CAPITAL ASSURANCE COMPANY
--------------                                 ------------------------------------------
<S>                                            <C>
Instructions for Delivery of Notes             The Bank of New York
                                               One Wall Street
                                               3rd Floor, Window A
                                               New York, NY  10286

                                               Ref: General Electric Capital Assurance Company (GECA-PRU)
                                                    Account # 127948

                                               with a copy of the above transmittal to:

                                               Prudential Capital Group
                                               4 Gateway Center
                                               100 Mulberry Street, 7th Floor
                                               Newark, NJ  07102
                                               Attn: Manger, Trade Management

Tax Identification Number                      91-6027719
</TABLE>

                                  Schedule A-9

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 MINNESOTA LIFE INSURANCE COMPANY
--------------                                 --------------------------------
<S>                                            <C>
Name in Which Note is Registered               MINNESOTA LIFE INSURANCE COMPANY

Note Registration Number; Principal Amount     R-9; $10,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   Federal Reserve Bank of Boston
                                               ABA # 011-001-234
                                               BOS SAFE DEP
                                               DDA # 048771
                                               Account Name: Minnesota Life Insurance Company
                                               Account Number: ADFF0106002
                                               Cost Code: 1167

                                               Re: see "Accompanying Information" below

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security:  4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        Minnesota Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101

                                               Fax: 651-223-5959

Address for All Other Notices                  Minnesota Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101

                                               Fax: 651-223-5959

Other Instructions                             MINNESOTA LIFE INSURANCE COMPANY
                                               By: Advantus Capital Management, Inc.

                                               By: _______________________
                                               Name:
                                               Title:

Instructions for Delivery of Notes             Minnesota Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101
                                               Attn: Nichol Harris

Tax Identification Number                      41-0417830
</TABLE>

                                  Schedule A-10

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 TRUSTMARK LIFE INSURANCE COMPANY
--------------                                 --------------------------------
<S>                                            <C>
Name in Which Note is Registered               ELL & CO.

Note Registration Number; Principal Amount     R-10;  $2,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   The Northern Chgo/Trust
                                               ABA # 071-000-152

                                               For further credit to: Account # 5186041000

                                               For further credit to: Trustmark Life Insurance Company
                                                                      Account # 26-11939
                                                                      Income Collections

                                               Re: see "Accompanying Information" below

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        Trustmark Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101
                                               Attn: Client Administrator

Address for All Other Notices                  Trustmark Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101
                                               Attn: Client Administrator

Other Instructions                             TRUSTMARK LIFE INSURANCE COMPANY
                                               By: Advantus Capital Management, Inc.

                                               By: ________________________
                                               Name:
                                               Title:

Instructions for Delivery of Notes             Northern Trust Company of New York
                                               40 Broad Street, 8th Floor
                                               New York, NY  10004
                                               Attn: Settlements for Account # 26-11939
                                                     Trustmark Life Insurance Company

Tax Identification Number                      36-3421358
</TABLE>

                                  Schedule A-11

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 AMERICAN FIDELITY ASSURANCE COMPANY
--------------                                 -----------------------------------
<S>                                            <C>
Name in Which Note is Registered               BOOTH & CO.

Note Registration Number; Principal Amount     R-11;  $2,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   First Fidelity Bank, N.A.
                                               5800 N.W. 39th Street
                                               Oklahoma City, OK  73122-2120
                                               ABA # 103-002-691

                                               For credit to: InvesTrust
                                                              Account # 1040120179
                                                        Attn: Tina Swaim
                                                              Ron Mitchell

                                               Further credit to: American Fidelity Assurance Company
                                                                  Account # 52010414
                                                        Attn: Trust Operations

                                               Re:  see "Accompanying Information" below

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        American Fidelity Assurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101
                                               Attn:  Client Administrator

Address for All Other Notices                  American Fidelity Assurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101
                                               Attn: Client Administrator

Other Instructions                             AMERICAN FIDELITY ASSURANCE COMPANY
                                               By: Advantus Capital Management, Inc.

                                               By: ________________________
                                               Name:
                                               Title:

Instructions for Delivery of Notes             Northern Trust Company of New York
                                               40 Broad Street, 8th Floor
                                               New York, NY  10004-2315
                                               Attn:  Settlements for Account # 1746957
                                                      American Fidelity Assurance Company

Tax Identification Number                      73-0714500
</TABLE>

                                  Schedule A-12

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 THE LAFAYETTE LIFE INSURANCE COMPANY
--------------                                 ------------------------------------
<S>                                            <C>
Name in Which Note is Registered               THE LAFAYETTE LIFE INSURANCE COMPANY

Note Registration Number; Principal Amount     R-12; $1,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   National City Bank
                                               ABA # 074-000-065
                                               Account: 758138732
                                               Lafayette Life Insurance Company

                                               Re: see "Accompanying Information" below

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security:  4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        The Lafayette Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101
                                               Attn: Client Administrator

Address for All Other Notices                  The Lafayette Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101
                                               Attn: Client Administrator

Other Instructions                             THE LAFAYETTE LIFE INSURANCE COMPANY
                                               By: Advantus Capital Management, Inc.

                                               By: ________________________
                                               Name:
                                               Title:

Instructions for Delivery of Notes             The Lafayette Life Insurance Company
                                               1905 Teal Road
                                               Lafayette, IN  47905
                                               Attn: Tracy Gaylor
                                                     Douglas Kelsey
                                                     Investment Department

Tax Identification Number                      35-0457540
</TABLE>

                                  Schedule A-13

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 INDUSTRIAL-ALLIANCE PACIFIC LIFE INSURANCE COMPANY
--------------                                 --------------------------------------------------
<S>                                            <C>
Name in Which Note is Registered               HARE & CO.

Note Registration Number; Principal Amount     R-13;  $1,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   Bank of New York
                                               ABA # 021-000-018
                                               For credit to: BBK=IOC 363

                                               For further credit to: Industrial-Alliance Pacific Life Insurance Company
                                                                      Account # 270384

                                               Re: see "Accompanying Information" below

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        Industrial-Alliance Pacific Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN 55101
                                               Attn: Client Administrator

Address for All Other Notices                  Industrial-Alliance Pacific Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN 55101
                                               Attn: Client Administrator

Other Instructions                             INDUSTRIAL-ALLIANCE PACIFIC LIFE INSURANCE COMPANY
                                               By: Advantus Capital Management, Inc.

                                               By: ________________________
                                               Name:
                                               Title:

Instructions for Delivery of Notes             BNY Western Trust Company
                                               Two Union Square, Suite 250
                                               601 Union Street
                                               Seattle, WA  98101-2321
                                               Attn: Deborah Saner

Tax Identification Number                      98-0018913
</TABLE>

                                  Schedule A-14

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 EDUCATORS MUTUAL LIFE INSURANCE COMPANY
--------------                                 ---------------------------------------
<S>                                            <C>
Name in Which Note is Registered               HARE & CO.

Note Registration Number; Principal Amount     R-14;  $500,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   First Union Bank
                                               Philadelphia, PA
                                               ABA # 031-201-467
                                               A/C # 5014179770579
                                               Attn: Mary C. Pitt
                                                     215-670-4542

                                               Ref: Educators Mutual Life Insurance Company
                                                    Account # 13-00009-00

                                               Re: see "Accompanying Information" below

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        Educators Mutual Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101
                                               Attn: Client Administrator

Address for All Other Notices                  Educators Mutual Life Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North
                                               St. Paul, MN  55101
                                               Attn: Client Administrator

Other Instructions                             EDUCATORS MUTUAL LIFE INSURANCE COMPANY
                                               By: Advantus Capital Management, Inc.

                                               By: ________________________
                                               Name:
                                               Title:

Instructions for Delivery of Notes             The Bank of New York
                                               One Wall Street
                                               3rd Floor, Window A
                                               New York, NY  10286

                                               Ref: Educators Mutual Life Insurance Company
                                                    Account # 13-00009-00
                                                    First Union Account # 071-395

Tax Identification Number                      23-1500814
</TABLE>

                                  Schedule A-15

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 GREAT WESTERN INSURANCE COMPANY
--------------                                 -------------------------------
<S>                                            <C>
Name in Which Note is Registered               MERRILL LYNCH FOR GREAT WESTERN INSURANCE COMPANY

Note Registration Number; Principal Amount     R-15;  $500,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   Chase Manhattan Bank NY
                                               ABA # 021-000-021
                                               Account # 9304019012 / MLPFS

                                               Ref: Great Western Insurance Company
                                                    Account # 70G-13700

                                               Contact: Jeff Ferrari
                                                        201-557-1314

                                               Re: see "Accompanying Information" below

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and interest)
                                               of the payment being made:

Address for Notices Related to Payments        Great Western Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North, A9-4538
                                               St. Paul, MN  55101
                                               Attn: Kay Rasmussen

Address for All Other Notices                  Great Western Insurance Company
                                               c/o Advantus Capital Management, Inc.
                                               400 Robert Street North, A9-4538
                                               St. Paul, MN  55101
                                               Attn: Kay Rasmussen

Other Instructions                             GREAT WESTERN INSURANCE COMPANY
                                               By: Advantus Capital Management, Inc.

                                               By: ________________________
                                               Name:
                                               Title:

Instructions for Delivery of Notes             New York Window / DTCC
                                               55 Water Street
                                               New York, NY  10041
                                               Attn: Butch Puazo

                                               Ref: Great Western Ins. Co.
                                                    Account # 70G-13700

Tax Identification Number                      87-0395954
</TABLE>

                                  Schedule A-16

<PAGE>

<TABLE>
<CAPTION>
PURCHASER NAME                                 MODERN WOODMEN OF AMERICA
--------------                                 -------------------------
<S>                                            <C>
Name in Which Notes are to be Registered       MODERN WOODMEN OF AMERICA

Note Registration Number; Principal Amount     R-16; $15,000,000

Payment on Account of Note

         Method                                Federal Funds Wire Transfer

         Account Information                   The Northern Trust Company
                                               50 South LaSalle Street
                                               Chicago, IL  60675
                                               ABA # 071-000-152
                                               Account Name: Modern Woodmen of America
                                               Account #: 84352

                                               Re: (see "Accompanying Information" below)

Accompanying Information                       Name of Company: J.M. SMUCKER COMPANY

                                               Description of  Security: 4.78% Senior Notes due June 1, 2014

                                               PPN: 832696 B# 4

                                               Due Date and Application (as among principal, make whole and
                                               interest) of the payment being made:

Address for Notices Related to Payments        Modern Woodmen of America
                                               1701 First Avenue
                                               Rock Island, IL  61201
                                               Attn: Investment Accounting Department

Address for All Other Notices                  Modern Woodmen of America
                                               1701 First Avenue
                                               Rock Island, IL  61201
                                               Attn: Investment Department

                                               Email: Investment.Department@Modern-Woodmen.org

Other Instructions                             MODERN WOODMEN OF AMERICA

                                               By______________________________
                                               Name:
                                               Title:

Instructions re Delivery of Notes              Modern Woodmen of America
                                               1701 First Avenue
                                               Rock Island, IL 61201
                                               Attn: Doug Pannier

Tax Identification Number                      36-1493430
</TABLE>

                                  Schedule A-17

<PAGE>
\
                                   SCHEDULE B

                                  DEFINED TERMS

      As used herein, the following terms have the respective meanings set forth
below or set forth in the Section hereof following such term:

      "ACQUISITION" means the acquisition by the Company of International
Multifoods Corporation pursuant to the Agreement and Plan of Merger, dated March
7, 2004, by and among the Company, MIX and International Multifoods Corporation.

      "AFFILIATE" means, at any time, and with respect to any Person, any other
Person that at such time directly or indirectly through one or more
intermediaries Controls, or is Controlled by, or is under common Control with,
such first Person. As used in this definition, "Control" means the possession,
directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting
securities, by contract or otherwise. Unless the context otherwise clearly
requires, any reference to an "Affiliate" is a reference to an Affiliate of the
Company.

      "AGREEMENT" is defined in Section 17.3.

      "ASSET DISPOSITION" means any Transfer except :

            (a)   any

                  (i)   Transfer from a Subsidiary to the Company or a
                        Wholly-Owned Subsidiary;

                  (ii)  Transfer from the Company to a Wholly-Owned Subsidiary;
                        and

                  (iii) Transfer from the Company to a Subsidiary (other than a
                        Wholly-Owned Subsidiary) or from a Subsidiary to another
                        Subsidiary (other than a Wholly-Owned Subsidiary), which
                        in either case is for Fair Market Value,

      so long as immediately before and immediately after the consummation of
      any such Transfer and after giving effect thereto, no Default or Event of
      Default exists; or

            (b)   any Transfer made in the ordinary course of business and
                  involving only property that is either (i) inventory held for
                  sale or (ii) equipment, fixtures, supplies or materials no
                  longer required in the operation of the business of the
                  Company or any of its Subsidiaries or that is obsolete.

      "ATTRIBUTABLE DEBT" means, as to any particular lease relating to a
Sale-and-Leaseback Transaction, the present value of all Lease Rentals required
to be paid by the Company or any Subsidiary under such lease during the
remaining term thereof (determined in accordance with

                                  Schedule B-1

<PAGE>

generally accepted financial practice using a discount factor equal to the
interest rate implicit in such lease if known or, if not known, an interest rate
of 10% per annum).

      "BANK CREDIT AGREEMENT" means that certain unsecured revolving credit
facility by and among the Company, Key Bank National Association, as Agent, and
the lenders named therein, to be entered into on or about June 17, 2004, as such
agreement may be amended or restated from time to time.

      "BUSINESS DAY" means any day other than a Saturday, a Sunday or a day on
which commercial banks in New York City, New York are required or authorized to
be closed.

      "CAPITAL LEASE" means, at any time, a lease with respect to which the
lessee is required concurrently to recognize the acquisition of an asset and the
incurrence of a liability in accordance with GAAP.

      "CHANGE IN CONTROL" means any of:

            (a) (i) the failure of the Smucker Family to hold, in the aggregate,
            not less than the greater of (A) 7.5% of the Special Voting Power of
            all classes of Voting Stock of the Company and (B) not less than the
            amount of the Special Voting Power of all classes of the Voting
            Stock of the Company possessed by the Largest Other Shareholder, or

                (ii) the failure of the Smucker Family to hold, in the
            aggregate, not less than the greater of (A) 5% of the Ordinary
            Voting Power of all classes of the Voting Stock of the Company and
            (B) not less than the amount of Ordinary Voting Power of all classes
            of the Voting Stock of the Company possessed by the Largest Other
            Shareholder; or

            (b) all or substantially all of the assets of the Company are sold
      or otherwise transferred, in a single transaction or a series of related
      transactions, to any person (as such term is used in section 13(d) and
      section 14(d)(2) of the Exchange Act as in effect on the date of the
      Closing) or related persons constituting a group (as such term is used in
      Rule 13d-5 under the Exchange Act as in effect on the date of the
      Closing); or

            (c) if, for any reason whatsoever, either Timothy P. Smucker or
      Richard K. Smucker (or both) shall fail to serve on the board of directors
      of the Company at any time; provided, that if either Timothy P. Smucker or
      Richard K. Smucker (but not both) shall fail to serve on the board of
      directors of the Company at any time, then with respect to this clause (c)
      only, it shall not be deemed to constitute a Change of Control if such
      individual is replaced as a director of the Company within one hundred
      twenty (120) days of such event by an individual reasonably satisfactory
      to the Required Holders.

      "CLOSING" is defined in Section 3.

      "CODE" means the Internal Revenue Code of 1986, as amended from time to
time, and the rules and regulations promulgated thereunder from time to time.

                                  Schedule B-2

<PAGE>

      "COMPANY" is defined in the introductory sentence of this Agreement.

      "CONFIDENTIAL INFORMATION" is defined in Section 20.

      "CONSOLIDATED ATTRIBUTABLE DEBT" means, as of any date of determination,
the total of all Attributable Debt of the Company and its Subsidiaries
outstanding on such date, after eliminating all offsetting debits and credits
between the Company and its Subsidiaries and all other items required to be
eliminated in the course of the preparation of consolidated financial statements
of the Company and its Subsidiaries in accordance with GAAP.

      "CONSOLIDATED CURRENT DEBT" means, as of any date of determination, the
total of all Current Debt of the Company and its Subsidiaries outstanding on
such date, after eliminating all offsetting debits and credits between the
Company and its Subsidiaries and all other items required to be eliminated in
the course of the preparation of consolidated financial statements of the
Company and its Subsidiaries in accordance with GAAP.

      "CONSOLIDATED FUNDED DEBT" means, as of any date of determination, the
total of all Funded Debt of the Company and its Subsidiaries outstanding on such
date, after eliminating all offsetting debits and credits between the Company
and its Subsidiaries and all other items required to be eliminated in the course
of the preparation of consolidated financial statements of the Company and its
Subsidiaries in accordance with GAAP.

      "CONSOLIDATED NET WORTH" means, at any time,

            (a)   the sum of (i) the par value (or value stated on the books of
                  the corporation) of the capital stock (but excluding treasury
                  stock, capital stock subscribed and unissued and Preferred
                  Stock redeemable prior to the maturity date of the Notes) of
                  the Company and its Subsidiaries plus (ii) the amount of the
                  paid-in capital and retained earnings of the Company and its
                  Subsidiaries, in each case as such amounts would be shown on a
                  consolidated balance sheet of the Company and its Subsidiaries
                  as of such time prepared in accordance with GAAP, minus

            (b)   to the extent included in clause (a), all amounts properly
                  attributable to minority interests, if any, in the stock and
                  surplus of Subsidiaries.

      "CONSOLIDATED SENIOR FUNDED DEBT" means all Senior Funded Debt of the
Company and the Subsidiaries, after eliminating all offsetting debits and
credits between the Company and its Subsidiaries and all other items required to
be eliminated in the course of the preparation of consolidated financial
statements of the Company and its Subsidiaries in accordance with GAAP.

      "CONSOLIDATED TOTAL ASSETS" means, at any time, the total assets of the
Company and the Subsidiaries which would be shown as assets on a consolidated
balance sheet of the Company and the Subsidiaries as of such time prepared in
accordance with GAAP, after eliminating all amounts properly attributable to
minority interests, if any, in the stock and surplus of Subsidiaries.

                                  Schedule B-3

<PAGE>

      "CONSOLIDATED TOTAL CAPITALIZATION" means, at any time, the sum of
Consolidated Net Worth and Consolidated Funded Debt.

      "CONTROL EVENT" means:

                  (a) the execution, by the holders of Voting Stock of the
            Company (together with their respective executors, heirs,
            beneficiaries, successors and assigns) or (in the case of any
            natural Person) their respective Families or Family Trusts, or by
            the Company or any of its Subsidiaries or Affiliates, of any
            agreement or letter of intent with respect to any proposed
            transaction or event or series of transactions or events which,
            individually or in the aggregate, may reasonably be expected to
            result in a Change in Control;

                  (b) the execution of any written agreement which, when fully
            performed by the parties thereto, would result in a Change in
            Control; or

                  (c) the making of any written offer by any person (as such
            term is used in section 13(d) and section 14(d)(2) of the Exchange
            Act as in effect on the Closing Date) or related persons
            constituting a group (as such term is used in Rule 13d-5 under the
            Exchange Act as in effect on the Closing Date) to the holders of the
            Voting Stock of the Company, which offer, if accepted by the
            requisite number of holders, would result in a Change in Control.

      "CURRENT DEBT" means, with respect to any Person, all Debt of such Person
which by its terms or by the terms of any instrument or agreement relating
thereto matures on demand or within one year from the date of the creation
thereof and is not directly or indirectly renewable or extendible at the option
of the obligor in respect thereof to a date one year or more from such date,
provided that (a) Debt outstanding under a revolving credit or similar agreement
which obligates the lender or lenders to extend credit over a period of one year
or more and (b) Current Maturities of Funded Debt shall constitute Funded Debt
and not Current Debt, even though such Debt by its terms matures on demand or
within one year from such date.

      "CURRENT MATURITIES OF FUNDED DEBT" means, at any time and with respect to
any item of Funded Debt, the portion of such Funded Debt outstanding at such
time which by the terms of such Funded Debt or the terms of any instrument or
agreement relating thereto is due on demand or within one year from such time
(whether by sinking fund, other required prepayment or final payment at
maturity) and is not directly or indirectly renewable, extendible or refundable
at the option of the obligor under an agreement or firm commitment in effect at
such time to a date one year or more from such time.

      "DEBT" means, with respect to any Person, without duplication:

                  (a) its liabilities for borrowed money;

                  (b) its liabilities for the deferred purchase price of
            property acquired by such Person (excluding accounts payable arising
            in the ordinary course of business but including, without
            limitation, all liabilities created or arising under

                                  Schedule B-4

<PAGE>

            any conditional sale or other title retention agreement with respect
            to any such property);

                  (c) all liabilities appearing on its balance sheet in
            accordance with GAAP in respect of Capital Leases;

                  (d) all liabilities for borrowed money secured by any Lien
            with respect to any property owned by such Person (whether or not it
            has assumed or otherwise become liable for such liabilities); and

                  (e) any Guaranty of such Person with respect to liabilities of
            a type described in any of clauses (a) through (d) hereof.

Debt of any Person shall include all obligations of such Person of the character
described in clauses (a) through (e) to the extent such Person remains legally
liable in respect thereof notwithstanding that any such obligation is deemed to
be extinguished under GAAP.

      "DEBT PREPAYMENT APPLICATION" means, with respect to any Transfer of
property, the application by the Company or its Subsidiaries of cash in an
amount equal to the Net Proceeds Amount with respect to such Transfer to pay
Senior Funded Debt of the Company (other than Senior Funded Debt owing to the
Company, any of its Subsidiaries or any Affiliate and Senior Funded Debt in
respect of any revolving credit or similar credit facility providing the Company
or any of its Subsidiaries with the right to obtain loans or other extensions of
credit from time to time, except to the extent that in connection with such
payment of Senior Funded Debt the availability of credit under such credit
facility is permanently reduced by an amount not less than the amount of such
proceeds applied to the payment of such Senior Funded Debt).

      "DEFAULT" means an event or condition the occurrence or existence of which
would, with the lapse of time or the giving of notice or both, become an Event
of Default.

      "DEFAULT RATE" means, with respect to any Note, that rate of interest that
is the greater of (a) 2% per annum above the rate of interest stated in clause
(a) of the first paragraph of such Note or (b) 2% per annum over the rate of
interest publicly announced from time to time by JPMorgan Chase Bank of New York
(or its successor) in New York City as its "base" or "prime" rate.

      "DISPOSITION VALUE" means, at any time, with respect to any property

                  (a) in the case of property that does not constitute
            Subsidiary Stock, the book value thereof, valued at the time of such
            disposition in good faith by the Company, and

                  (b) in the case of property that constitutes Subsidiary Stock,
            an amount equal to that percentage of book value of the assets of
            the Subsidiary that issued such stock as is equal to the percentage
            that the book value of such Subsidiary Stock represents of the book
            value of all of the outstanding capital stock of such Subsidiary
            (assuming, in making such calculations, that all Securities
            convertible into such capital stock are so converted and giving full
            effect to all transactions

                                  Schedule B-5

<PAGE>

            that would occur or be required in connection with such conversion)
            determined at the time of the disposition thereof, in good faith by
            the Company.

      "ENVIRONMENTAL LAWS" means any and all federal, state, local, and foreign
statutes, laws, regulations, ordinances, rules, judgments, orders, decrees,
permits, concessions, grants, franchises, licenses, agreements or governmental
restrictions relating to pollution and the protection of the environment or the
release of any materials into the environment, including but not limited to
those related to hazardous substances or wastes, air emissions and discharges to
waste or public systems.

      "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and the rules and regulations promulgated thereunder
from time to time in effect.

      "ERISA AFFILIATE" means any trade or business (whether or not
incorporated) that is treated as a single employer together with the Company
under section 414 of the Code.

      "EVENT OF DEFAULT" is defined in Section 11.

      "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended.

      "FAIR MARKET VALUE" means, at any time, the sale value of such property
that would be realized in an arm's-length sale at such time between an informed
and willing buyer and an informed and willing seller (neither being under a
compulsion to buy or sell), as determined by, in the case of any property that
is to be the subject of a Transfer:

                        (i) an appraiser of established reputation in appraising
                  property of the kind to be subject to such Transfer;

                        (ii) the highest price offered for such property in a
                  competitive bidding process in which at least three potential
                  bidders have been requested to participate so long as the
                  Company had a reasonable basis on which to make such request
                  (in terms of such potential bidders' financial resources and
                  interest in such property); or

                        (iii) an analysis prepared by the Company which in
                  addition to taking into account the standard set forth in this
                  definition prior to clause (i) shall take into account the
                  operating costs that would be saved by disposing of such
                  property, and the relative tax benefits attributable to
                  continued ownership and to disposition of such property;
                  provided, however, that the sum of the Disposition Value of
                  such property, plus the Disposition Value of all other such
                  property Transferred during the 365 day period ending on such
                  date, shall not exceed an amount equal to 3% of Consolidated
                  Total Assets as of the end of the then most recently ended
                  fiscal year of the Company exclusive of the Disposition Value
                  of the real property of the Company located in Pottstown,
                  Pennsylvania, and the plant and equipment located thereon,
                  related to the "Mrs.'s Smith's" frozen pie business. Any such
                  evaluation shall be delivered to the holders of the

                                  Schedule B-6

<PAGE>
                  Notes together with an Officer's Certificate, signed by a
                  Senior Financial Officer, certifying as to the accuracy and
                  completeness of such evaluation.

      "FAMILY" means, in respect of any individual, the heirs, legatees,
descendants and blood relatives to the fifth degree of consanguinity of such
individual.

      "FAMILY TRUSTS" means, in respect of any individual, any trusts for the
exclusive benefit of such individual, his or her spouse and lineal descendants.

      "FINANCING DOCUMENTS" means this Agreement, the Notes and each Guaranty
Agreement, as each may be amended, restated or otherwise modified from time to
time, and all other documents to be executed and/or delivered in favor of any
holders of Notes, or all of them, by the Company, any of its Subsidiaries, or
any other Person in connection with this Agreement.

      "FUNDED DEBT" means, with respect to any Person, all Debt of such Person
which by its terms or by the terms of any instrument or agreement relating
thereto matures, or which is otherwise payable or unpaid, one year or more from,
or is directly or indirectly renewable or extendible at the option of the
obligor in respect thereof to a date one year or more (including, without
limitation, an option of such obligor under a revolving credit or similar
agreement obligating the lender or lenders to extend credit over a period of one
year or more) from, the date of the creation thereof.

      "GAAP" means generally accepted accounting principles as in effect from
time to time in the United States of America.

      "GOVERNMENTAL AUTHORITY" means

                  (a) the government of

                        (i) the United States of America or any state or other
                  political subdivision thereof, or

                        (ii) any jurisdiction in which the Company or any
                  Subsidiary conducts all or any part of its business, or which
                  asserts jurisdiction over any properties of the Company or any
                  Subsidiary, or

                  (b) any entity exercising executive, legislative, judicial,
            regulatory or administrative functions of, or pertaining to, any
            such government.

      "GUARANTY" means, with respect to any Person, any obligation (except the
endorsement in the ordinary course of business of negotiable instruments for
deposit or collection) of such Person guaranteeing or in effect guaranteeing any
indebtedness, dividend or other obligation of any other Person in any manner,
whether directly or indirectly, including (without limitation) obligations
incurred through an agreement, contingent or otherwise, by such Person:

                  (a) to purchase such indebtedness or obligation or any
            property constituting security therefor;

                                  Schedule B-7
<PAGE>

                  (b) to advance or supply funds (i) for the purchase or payment
            of such indebtedness or obligation, or (ii) to maintain any working
            capital or other balance sheet condition or any income statement
            condition of any other Person or otherwise to advance or make
            available funds for the purchase or payment of such indebtedness or
            obligation;

                  (c) to lease properties or to purchase properties or services
            primarily for the purpose of assuring the owner of such indebtedness
            or obligation of the ability of any other Person to make payment of
            the indebtedness or obligation; or

                  (d) otherwise to assure the owner of such indebtedness or
            obligation against loss in respect thereof.

      In any computation of the indebtedness or other liabilities of the obligor
under any Guaranty, the indebtedness or other obligations that are the subject
of such Guaranty shall be assumed to be direct obligations of such obligor.

      "GUARANTY AGREEMENT" means, collectively (a) as defined in Section 4.11,
and (b) any Guaranty executed and delivered in favor of the holders of Notes in
form and substance satisfactory to the Required Holders.

      "HOLDER" means, with respect to any Note, the Person in whose name such
Note is registered in the register maintained by the Company pursuant to Section
13.1.

      "INDEBTEDNESS" with respect to any Person means, at any time, without
duplication:

                  (a) its liabilities for borrowed money and its redemption
            obligations in respect of mandatorily redeemable Preferred Stock;

                  (b) its liabilities for the deferred purchase price of
            property acquired by such Person (excluding accounts payable arising
            in the ordinary course of business but including all liabilities
            created or arising under any conditional sale or other title
            retention agreement with respect to any such property);

                  (c) all liabilities appearing on its balance sheet in
            accordance with GAAP in respect of Capital Leases;

                  (d) all liabilities for borrowed money secured by any Lien
            with respect to any property owned by such Person (whether or not it
            has assumed or otherwise become liable for such liabilities);

                  (e) all of its liabilities in respect of letters of credit or
            instruments serving a similar function issued or accepted for its
            account by banks and other financial institutions (whether or not
            representing obligations for borrowed money);

                  (f) Swaps of such Person; and

                                  Schedule B-8

<PAGE>

                  (g) any Guaranty of such Person with respect to liabilities of
            a type described in any of clauses (a) through (f) hereof.

      "INSTITUTIONAL INVESTOR" means (a) any original purchaser of a Note, (b)
any holder of a Note holding more than 5% of the aggregate principal amount of
the Notes then outstanding, and (c) any bank, trust company, savings and loan
association or other financial institution, any pension plan, any investment
company, any insurance company, any broker or dealer, or any other similar
financial institution or entity, regardless of legal form.

      "LARGEST OTHER SHAREHOLDER" means, with respect to either Voting Stock of
the Company having Special Voting Power or Voting Stock of the Company having
Ordinary Voting Power, the person (as such term is used in section 13(d) and
section 14(d)(2) of the Exchange Act as in effect on the date of the Closing) or
the related persons constituting a group (as such term is used in Rule 13d-5
under the Exchange Act as in effect on the date of the Closing), other than the
Smucker Family, possessing Voting Stock of the Company with the greatest Special
Voting Power or the greatest Ordinary Voting Power, as the case may be.

      "LEASE RENTALS" means, with respect to any period, the sum of the minimum
amount of rental and other obligations required to be paid during such period by
the Company or any Subsidiary as lessee under all leases of real or personal
property (other than Capital Leases), excluding any amounts required to be paid
by the lessee (whether or not therein designated as rental or additional rental)
(a) which are on account of maintenance and repairs, insurance, taxes,
assessments, water rates and similar charges, or (b) which are based on profits,
revenues or sales realized by the lessee from the leased property or otherwise
based on the performance of the lessee.

      "LIEN" means, with respect to any Person, any mortgage, lien, pledge,
charge, security interest or other encumbrance, or any interest or title of any
vendor, lessor, lender or other secured party to or of such Person under any
conditional sale or other title retention agreement or Capital Lease, upon or
with respect to any property or asset of such Person (including in the case of
stock, stockholder agreements, voting trust agreements and all similar
arrangements).

      "MAKE-WHOLE AMOUNT" is defined in Section 8.7.

      "MATERIAL" means material in relation to the business, operations,
affairs, financial condition, assets, or properties of the Company and its
Subsidiaries taken as a whole.

      "MATERIAL ADVERSE EFFECT" means a material adverse effect on (a) the
business, operations, affairs, financial condition, assets or properties of the
Company and its Subsidiaries taken as a whole, (b) the ability of the Company to
perform its obligations under this Agreement and the Notes, (c) the ability of
any Subsidiary Guarantor to perform its obligations under its respective
Guaranty Agreement or (d) the validity or enforceability of this Agreement, the
Notes or any Guaranty Agreement.

      "MIX" means MIX Acquisition Corporation, a Delaware corporation and
Wholly-Owned Subsidiary of the Company.

                                  Schedule B-9

<PAGE>

      "MULTIEMPLOYER PLAN" means any Plan that is a "multiemployer plan" (as
such term is defined in section 4001(a)(3) of ERISA).

      "NET PROCEEDS AMOUNT" means, with respect to any Transfer of any property
by any Person, an amount equal to the difference of

                  (a) the aggregate amount of the consideration (valued at the
            Fair Market Value of such consideration at the time of the
            consummation of such Transfer) received by such Person in respect of
            such Transfer, minus

                  (b) all ordinary and reasonable out-of-pocket costs and
            expenses actually incurred by such Person in connection with such
            Transfer.

      "1999 NOTE AGREEMENT" means, collectively, those certain Note Purchase
Agreements, each dated as of June 16, 1999, among the Company and each of the
Persons listed on Schedule A thereto.

      "NOTES" is defined in Section 1.1.

      "OBLIGORS" means, collectively, the Company and each Subsidiary Guarantor.

      "OFFEREE LETTER" is defined in Section 5.13.

      "OFFICER'S CERTIFICATE" means a certificate of a Senior Financial Officer
or of any other officer of the Company, or any Subsidiary, as the context may
require, whose responsibilities extend to the subject matter of such
certificate.

      "ORDINARY VOTING POWER" means the voting power attributable to all shares
of Voting Stock of the Company for purposes of electing directors of the
Company.

      "PBGC" means the Pension Benefit Guaranty Corporation referred to and
defined in ERISA or any successor thereto.

      "PERSON" means an individual, partnership, corporation, limited liability
company, association, trust, unincorporated organization, or a government or
agency or political subdivision thereof.

      "PLAN" means an "employee benefit plan" (as defined in section 3(3) of
ERISA) that is or, within the preceding five years, has been established or
maintained, or to which contributions are or, within the preceding five years,
have been made or required to be made, by the Company or any ERISA Affiliate or
with respect to which the Company or any ERISA Affiliate may have any liability.

      "PREFERRED STOCK" means any class of capital stock of a corporation that
is preferred over any other class of capital stock of such corporation as to the
payment of dividends or the payment of any amount upon liquidation or
dissolution of such corporation.

                                  Schedule B-10

<PAGE>

      "PRIORITY DEBT" means the sum of (a) all Debt of the Company secured by
Liens permitted by Section 10.7(g), (b) all Debt of Subsidiaries (other than (x)
Debt held by the Company or a Wholly-Owned Subsidiary or (y) Debt of MIX under
the Guaranty Agreement delivered pursuant to Section 4.11 and any Guaranty by a
Subsidiary Guarantor of the Debt evidenced by (1) this Agreement, (2) the Bank
Credit Agreement, so long as such Debt is subject to an intercreditor agreement,
in form and substance satisfactory to the Required Holders, and so long as the
holders of the Notes have the benefit of such intercreditor agreement with
respect to such Debt, (3) the 1999 Note Agreement, and (4) the 2000 Note
Agreement) and (c) Consolidated Attributable Debt.

      "PROPERTY" OR "PROPERTIES" means, unless otherwise specifically limited,
real or personal property of any kind, tangible or intangible, choate or
inchoate.

      "PROPERTY REINVESTMENT APPLICATION" means, with respect to any Transfer of
property, the satisfaction of each of the following conditions:

                  (a) an amount equal to the Net Proceeds Amount with respect to
            such Transfer shall have been applied to the acquisition by the
            Company, or any of its Subsidiaries making such Transfer, of
            property that upon such acquisition is unencumbered by any Lien
            (other than Liens described in subparagraphs (a) through (f),
            inclusive, of Section 10.7) and that

                        (i) constitutes property that is (x) property
                  classifiable under GAAP as non-current to the extent that such
                  proceeds are derived from the Transfer of property that was
                  properly classifiable as non-current, and otherwise properly
                  classifiable as either current or non-current, and (y) to be
                  used in the ordinary course of business of the Company and the
                  Subsidiaries, or

                        (ii) constitutes equity interests of a Person that shall
                  be, on or prior to the time of such acquisition, a Subsidiary
                  of the Company, and that shall invest the proceeds of such
                  acquisition in property of the nature described in the
                  immediately preceding clause (i); and

                  (b) the Company shall have delivered a certificate of a
            Responsible Officer of the Company to each holder of a Note
            referring to Section 10.8 or Section 10.9, as applicable, and
            identifying the property that was the subject of such Transfer, the
            Disposition Value of such property, and the nature, terms, amount
            and application of the proceeds from the Transfer.

      "PROPOSED PREPAYMENT DATE" is defined in Section 8.3(c).

      "PTE" means a United States Department of Labor Prohibited Transaction
Class Exemption.

      "PURCHASERS" means and includes each of the Persons listed in Schedule A.

      "QPAM EXEMPTION" is defined in Section 6.2(c).

                                  Schedule B-11

<PAGE>

      "REQUIRED HOLDERS" means, at any time, the holders of at least a majority
in principal amount of the Notes at the time outstanding (exclusive of Notes
then owned by the Company or any of its Affiliates).

      "RESPONSIBLE OFFICER" means any Senior Financial Officer and any other
officer of the Company or MIX with responsibility for the administration of the
relevant portion of this Agreement.

      "SALE-AND-LEASEBACK TRANSACTION" means a transaction or series of
transactions pursuant to which the Company or any Subsidiary shall sell or
transfer to any Person (other than the Company or a Subsidiary) any property,
whether now owned or hereafter acquired, and, as part of the same transaction or
series of transactions, the Company or any Subsidiary shall rent or lease as
lessee (other than pursuant to a Capital Lease), or similarly acquire the right
to possession or use of, such property or one or more properties which it
intends to use for the same purpose or purposes as such property.

      "SECURITIES ACT" means the Securities Act of 1933, as amended from time to
time.

      "SECURITY" has the meaning set forth in Section 2(1) of the Securities
Act.

      "SENIOR FINANCIAL OFFICER" means the Chief Financial Officer, principal
accounting officer, treasurer or controller of the Company.

      "SENIOR FUNDED DEBT" means all Funded Debt of the Company (other than
Subordinated Funded Debt) and all Funded Debt of Subsidiaries.

      "SIGNIFICANT SUBSIDIARY" means at any time any Subsidiary that would at
such time constitute a "significant subsidiary" (as such term is defined in
Regulation S-X of the Securities and Exchange Commission as in effect on the
date of the Closing) of the Company; provided that each Subsidiary Guarantor
shall at all times be deemed a Significant Subsidiary.

      "SOURCE" is defined in Section 6.2.

      "SMUCKER FAMILY" means and includes Timothy P. Smucker, Richard K.
Smucker, Susan Smucker Wagstaff and Marcella Smucker Clark, and their respective
Families and Family Trusts.

      "SPECIAL VOTING POWER" means the voting power attributable to those shares
of Voting Stock of the Company entitled to the special voting rights set forth
in Division II, Section 2(a) of the Amended Articles of Incorporation of the
Company.

      "SUBORDINATED FUNDED DEBT" means any Funded Debt of the Company that is
subordinated in right of payment or security to Funded Debt evidenced by the
Notes, in each case, upon written terms and conditions reasonably satisfactory
to the Required Holders.

      "SUBSIDIARY" means, as to any Person, any corporation, association or
other business entity in which such Person or one or more of its Subsidiaries or
such Person and one or more of its Subsidiaries owns sufficient equity or voting
interests to enable it or them (as a group)

                                  Schedule B-12

<PAGE>

ordinarily, in the absence of contingencies, to elect a majority of the
directors (or Persons performing similar functions) of such entity, and any
partnership or joint venture if more than a 50% interest in the profits or
capital thereof is owned by such Person or one or more of its Subsidiaries or
such Person and one or more of its Subsidiaries (unless such partnership can and
does ordinarily take major business actions without the prior approval of such
Person or one or more of its Subsidiaries). Unless the context otherwise clearly
requires, any reference to a "Subsidiary" is a reference to a Subsidiary of the
Company.

      "SUBSIDIARY GUARANTOR" means, collectively, MIX and any Subsidiary that
has executed and delivered to the holders of Notes a Guaranty Agreement,
together with an opinion of counsel to such Subsidiary in form and substance
satisfactory to the Required Holders, evidence of proper corporate authorization
and such other documents and instruments as may be reasonably requested by the
Required Holders.

      "SUBSIDIARY STOCK" means, with respect to any Person, the stock (or any
options or warrants to purchase stock or other Securities exchangeable for or
convertible into stock) of any Subsidiary of such Person.

      "SURVIVOR" is defined in Section 10.2(a).

      "SWAPS" means, with respect to any Person, payment obligations with
respect to interest rate swaps, currency swaps and similar obligations
obligating such Person to make payments, whether periodically or upon the
happening of a contingency. For the purposes of this Agreement, the amount of
the obligation under any Swap shall be the amount determined in respect thereof
as of the end of the then most recently ended fiscal quarter of such Person,
based on the assumption that such Swap had terminated at the end of such fiscal
quarter, and in making such determination, if any agreement relating to such
Swap provides for the netting of amounts payable by and to such Person
thereunder or if any such agreement provides for the simultaneous payment of
amounts by and to such Person, then in each such case, the amount of such
obligation shall be the net amount so determined.

      "TRANSFER" means, with respect to any Person, any transaction in which
such Person sells, conveys, transfers or leases (as lessor) any of its property,
including, without limitation, Subsidiary Stock. For purposes of determining the
application of the Net Proceeds Amount in respect of any Transfer, the Company
may designate any Transfer as one or more separate Transfers each yielding a
separate Net Proceeds Amount. In any such case, the Disposition Value of any
property subject to each such separate Transfer shall be determined by ratably
allocating the aggregate Disposition Value of all property subject to all such
separate Transfers to each such separate Transfer on a proportionate basis.

      "2000 NOTE AGREEMENT" means, collectively, those certain Note Purchase
Agreements, each dated as of August 23, 2000, among the Company and each of the
Persons listed on Schedule A thereto.

      "USA PATRIOT ACT" means the Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT)
Act of 2001 of the United States of America.

                                  Schedule B-13

<PAGE>

      "VOTING STOCK" means capital stock of any class or classes of a Person the
holders of which are ordinarily, in the absence of contingencies, entitled to
elect corporate directors (or Persons performing similar functions).

      "WHOLLY-OWNED SUBSIDIARY" means, at any time, any Subsidiary one hundred
percent (100%) of all of the equity interests (except directors' qualifying
shares) and voting interests of which are owned by any one or more of the
Company and the Company's other Wholly-Owned Subsidiaries at such time.

                                  Schedule B-14

<PAGE>

                                  SCHEDULE 4.9

                         CHANGES IN CORPORATE STRUCTURE

      The Subsidiary Guarantor, MIX Acquisition Corporation, was formed in
Delaware on March 5, 2004 and is a Wholly-Owned Subsidiary of the Company.

                                  Schedule 4.9-1

<PAGE>

                                  SCHEDULE 5.3

                              DISCLOSURE MATERIALS

      The SEC Division of Corporate Finance submitted a letter to the Company
dated March 3, 2004 regarding a review conducted by the SEC on the Company's
Form 10-K, filed July 24, 2003 and Form 10-Q filed December 11, 2003. The SEC
provided comments on the Company's financial statements and related disclosures
in management's discussion and analysis. In certain areas, the SEC requested
that the Company revise its filings, or respond to the SEC as to why its comment
is inapplicable or a revision is unnecessary. The Company responded to the SEC
Division of Corporate Finance in a letter dated March 22, 2004 and has agreed to
revise future filings on Form 10-K and Form 10-Q.

                                 Schedule 5.3-1

<PAGE>

                                  SCHEDULE 5.4

              ORGANIZATION AND OWNERSHIP OF SHARES OF SUBSIDIARIES

<TABLE>
<CAPTION>
                                                                                                                OWNERSHIP
                                                                               JURISDICTION OF         -----------------------------
SUBSIDIARY                                                                      INCORPORATION          OWNED BY    PERCENT OWNERSHIP
----------                                                                    ------------------       --------    -----------------
<S>                                                                           <C>                      <C>         <C>
J.M. Smucker LLC                                                              Ohio                     Company           100%
Smucker Fruit Processing Company                                              California               Company           100%
J.M. Smucker (Pennsylvania), Inc. (formerly H. B. DeViney Company, Inc.)      Pennsylvania             Company           100%
Mary Ellen's, Incorporated                                                    Ohio                     Company           100%
The Dickinson Family, Inc.                                                    Ohio                     Company           100%
Smucker Quality Beverages, Inc. (formerly Knudsen & Sons, Inc.) ("SQB")       California               Company           100%
Juice Creations Co.                                                           Ohio                     SQB               100%
Santa Cruz Natural Incorporated                                               California               SQB               100%
After The Fall Products, Inc.                                                 Ohio                     SQB               100%
Knudsen & Sons, Inc.                                                          Ohio                     SQB               100%
Alternative Attitudes, Inc.                                                   Ohio                     SQB               100%
Rocket Juice Company (formerly Garratt & Gunn Ltd.)                           California               SQB               100%
Smucker Latin America, Inc. (formerly J. M. Smucker (Canada), Inc.) ("SLA")   Ohio                     Company           100%
J. M. Smucker de Mexico, S.A de C.V.                                          Mexico, dom. DE          SLA               100%
Smucker do Brasil Ltda.                                                       Brazil                   SLA               100%
Smucker Australia, Inc. ("SA")*                                               Ohio                     Company           100%
Henry Jones Foods Pty. Ltd. (formerly Shawson Pty. Ltd.) ("HJF")*             Victoria, Australia      SA                100%
Hallco Pty. Ltd.*                                                             Victoria, Australia      HJF               100%
Smucker Holdings, Inc. (formerly Mrs. Smith's, Inc.)                          Ohio                     Company           100%
Smucker U. K., Inc.                                                           Ohio                     Company           100%
J. M. Smucker (Canada) Inc.                                                   Ontario                  Company           100%
Smucker Hong Kong Limited                                                     Hong Kong                Company           100%
</TABLE>

                                 Schedule 5.4-1

<PAGE>

<TABLE>
<CAPTION>
                                                                                                              OWNERSHIP
                                                                              JURISDICTION OF     ---------------------------------
SUBSIDIARY                                                                     INCORPORATION      OWNED BY        PERCENT OWNERSHIP
----------                                                                    ---------------     --------        -----------------
<S>                                                                           <C>                 <C>             <C>
Sunberry Farms, Inc. (formerly Gingham's, Inc.)                                   Ohio            Company               100%
Simply Smucker's, Inc. (formerly SAH, Inc.)                                       Ohio            Company               100%
Smucker Direct, Inc.                                                              Ohio            Company               100%
JM Smucker (Scotland) Limited                                                     Scotland        Company               100%
MIX Acquisition Corporation                                                       Delaware        Company               100%
HJF Acquisition Corporation ("HJF ACQ.")*                                         Delaware        Company               100%
Ardmona Acquisition Corporation*                                                  Delaware        HJF Acq.              100%
</TABLE>

*     The Company has entered into a definitive agreement to sell its Australia
      food business to SPC Ardmona Ltd. The transaction is expected to close by
      the end of June 2004.

                                 Schedule 5.4-2

<PAGE>

                                  SCHEDULE 5.5

                              FINANCIAL STATEMENTS

1. 2003 Annual Report to Shareholders.

2. Form 10-K for the Fiscal Year Ended April 30, 2003.

3. Form 10-Q for the Quarter Ended January 31, 2004.

                                 Schedule 5.5-1

<PAGE>

                                  SCHEDULE 5.8

                               CERTAIN LITIGATION

1.    The Company is a defendant in 20 class action lawsuits related to its
      Simply 100% Fruit product. The Dickinson Family, Inc., a Wholly-Owned
      Subsidiary of the Company, has two class action lawsuits related to its
      Dickinson 100% Fruit product. The complaints in these lawsuits generally
      allege violations of state consumer fraud acts, unjust enrichment and
      breach of an express warranty based on the allegation that Simply 100%
      Fruit does not contain 100 percent fruit and it does not contain 100
      percent of the fruit designated as the flavor (e.g., strawberry). The
      complaints generally seek damages in the form of either a refund of the
      purchase price or the difference between the price of Simply 100% Fruit
      and lower priced the Company products. The Company believes these suits
      are without merit and intends to vigorously defend these actions.

2.    On April 1, 2003, the Fleming Companies, Inc. and numerous related
      entities (collectively, "FLEMING") filed Voluntary Petitions for
      bankruptcy in the Bankruptcy Court for the District of Delaware,
      Bankruptcy Case No. 03-10945(MFW), under Chapter 11, Title 11 of the
      United States Code (the "BANKRUPTCY CODE"). Since that date, Fleming has
      continued to manage and operate its business and properties as a debtor in
      possession pursuant to Sections 1107 and 1108 of the Bankruptcy Code. The
      Company timely filed proofs of claim in the Fleming bankruptcy in excess
      of $2 million for goods sold and owning as of the petition date. The
      Company has also asserted a reclamation claim under Section 506 of the
      Bankruptcy Code against Fleming in an amount in excess of $1.2 million. On
      January 31, 2004, Fleming filed an adversary proceeding against the
      Company, Adversary Proceeding No. 02-51553, to, inter alia, contest the
      Company reclamation claim, to recover alleged preferential transfers, and
      to recover alleged amounts owing by the Company to Fleming. The total
      amount sought by Fleming in the adversary proceeding is in excess of $2
      million. No discovery has yet occurred in the adversary proceeding.

                                 Schedule 5.8-1

<PAGE>

                                  SCHEDULE 5.11

                             LICENSES, PERMITS, ETC.

      None.

                                Schedule 5.11-1

<PAGE>

                                  SCHEDULE 5.14

                                 USE OF PROCEEDS

      The proceeds will be used to (i) finance the cash component of the
acquisition by the Company of International Multifoods Corporation as further
described in the Agreement and Plan of Merger, dated March 7, 2004 by and
between the Company, MIX and International Multifoods Corporation, together with
all agreements, exhibits, schedules, annexes and documents executed or delivered
in connection therewith, and the Form S-4/Proxy Statement of the Company dated
May 4, 2004, copies of which have been delivered to you, (ii) repay certain
International Multifoods Corporation Debt, or (iii) finance other business
activities as determined by the Company.

                                Schedule 5.14-1

<PAGE>

                                  SCHEDULE 5.15

                              EXISTING INDEBTEDNESS

SHORT-TERM DEBT

1.    Letter of Intent for an uncommitted line of credit of up to the principal
      amount of $40,000,000 through a Promissory Note to LaSalle Bank, N.A. (no
      amount outstanding)

2.    Promissory Note for an uncommitted line of credit of up to the principal
      amount of $40,000,000 to KeyBank, N.A. (no amount outstanding)

3.    Promissory Note for an uncommitted line of credit of up to the principal
      amount of $25,000,000 to Fifth Third Bank, N.A. (no amount outstanding)

LONG-TERM DEBT

1.    $75,000,000 in principal amount of 6.77% Senior Notes due June 1, 2009

2.    $17,000,000 in principal amount of 7.70% Series A Senior Notes due
      September 1, 2005

3.    $33,000,000 in principal amount of 7.87% Series B Senior Notes due
      September 1, 2007

4.    $10,000,000 in principal amount of 7.94% Series C Senior Notes due
      September 1, 2010

LETTERS OF CREDIT

1.    Irrevocable standby Letter of Credit in principal amount of $5,372,000
      issued by National City Bank to Lumbermens Mutual Casualty Company, dated
      May 9, 2000, amended May 30, 2001

2.    Irrevocable standby Letter of Credit in principal amount of $500,000
      issued by National City Bank to the Commonwealth of Kentucky dated June 2,
      2003

3.    Irrevocable standby Letter of Credit in principal amount of $4,100,000
      issued by Harris Bank to National Union Fire Insurance Company of
      Pittsburgh, et al., dated May 7, 2004

INTERNATIONAL INTERCOMPANY LOANS

1.    Promissory Note/Revolving Loan dated May 23, 1995 between J. M. Smucker de
      Mexico, S.A. de C.V. and the Company in principal amount up to $5,000,000
      U.S. payable upon demand by the holder

2.    Promissory Note dated November 29, 1999 between Smucker do Brasil Ltda.
      and Smucker Latin America, Inc. in principal amount of $5,000,000 U.S.,
      payable upon demand by the holder

3.    Promissory Note dated February 3, 2000 between Smucker do Brasil Ltda. and
      Smucker Latin America, Inc. in principal amount of $500,000 U.S., payable
      upon demand by the holder

4.    Promissory Note dated October 25, 2002 between Smucker do Brasil Ltda. and
      Smucker Latin America, Inc. in principal amount of $1,900,000 U.S.,
      payable upon demand by the holder

5.    Promissory Note dated December 30, 2002 between Smucker do Brasil Ltda.
      and Smucker Latin America, Inc. in principal amount of $4,100,000 U.S.,
      payable upon demand by the holder

                                Schedule 5.15-1

<PAGE>

                                                                       EXHIBIT 1

                                 [FORM OF NOTE]

                            THE J. M. SMUCKER COMPANY

                       4.78% SENIOR NOTE DUE JUNE 1, 2014

No. R-[__]                                                                [Date]
$[_______]                                                      PPN: 832696 B# 4

      FOR VALUE RECEIVED, the undersigned, THE J. M. SMUCKER COMPANY (herein
called the "COMPANY"), a corporation organized and existing under the laws of
the State of Ohio, hereby promises to pay to [________________________], or
registered assigns, the principal sum of [___________________] DOLLARS
($[________]) on June 1, 2014, with interest (computed on the basis of a 360-day
year of twelve 30-day months) (a) on the unpaid balance thereof at the rate of
4.78% per annum from the date hereof, payable semiannually, on the first day of
February and August in each year, commencing with the February 1 or August 1
next succeeding the date hereof, until the principal hereof shall have become
due and payable, and (b) to the extent permitted by law on any overdue payment
(including any overdue prepayment) of principal, any overdue payment of interest
and any overdue payment of any Make-Whole Amount (as defined in the Note
Purchase Agreement referred to below), payable semiannually as aforesaid (or, at
the option of the registered holder hereof, on demand), at a rate per annum from
time to time equal to the greater of (i) 6.78% or (ii) 2% over the rate of
interest publicly announced from time to time by JPMorgan Chase Bank of New York
in New York City, New York as its "base" or "prime" rate.

      Payments of principal of, interest on and any Make-Whole Amount with
respect to this Note are to be made in lawful money of the United States of
America at the address shown in the register maintained by the Company for such
purpose or at such other place as the Company shall have designated by written
notice to the holder of this Note as provided in the Note Purchase Agreement
referred to below.

      This Note is one of the 4.78% Senior Notes (herein called the "NOTES")
issued pursuant to the Note Purchase Agreement, dated as of May 27, 2004 (as
from time to time amended, the "NOTE PURCHASE AGREEMENT"), between the Company
and the respective Purchasers named therein and is entitled to the benefits
thereof. Each holder of this Note will be deemed, by its acceptance hereof, (a)
to have agreed to the confidentiality provisions set forth in Section 20 of the
Note Purchase Agreement and (b) to have made the representations set forth in
the last sentence of Section 6.1 and in Section 6.2 of the Note Purchase
Agreement.

      This Note is a registered Note and, as provided in the Note Purchase
Agreement, upon surrender of this Note for registration of transfer, duly
endorsed, or accompanied by a written instrument of transfer duly executed, by
the registered holder hereof or such holder's attorney duly authorized in
writing, a new Note for a like principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for
registration of transfer, the

                                   Exhibit 1-1

<PAGE>

Company may treat the person in whose name this Note is registered as the owner
hereof for the purpose of receiving payment and for all other purposes, and the
Company will not be affected by any notice to the contrary.

      This Note is subject to optional prepayment, in whole or from time to time
in part, at the times and on the terms specified in the Note Purchase Agreement,
but not otherwise.

      If an Event of Default, as defined in the Note Purchase Agreement, occurs
and is continuing, the principal of this Note may be declared or otherwise
become due and payable in the manner, at the price (including any applicable
Make-Whole Amount) and with the effect provided in the Note Purchase Agreement.

      THIS NOTE AND THE NOTE PURCHASE AGREEMENT SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW
OF THE STATE OF NEW YORK, EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH
STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER
THAN SUCH STATE.

                                                 THE J. M. SMUCKER COMPANY

                                                 By: _________________________
                                                 Name:
                                                 Title:

                                  Exhibit 1-2

<PAGE>

                                                                  EXHIBIT 4.4(a)

                           FORM OF OPINION OF COUNSEL
                             FOR THE COMPANY AND MIX

                              [COMPANY LETTERHEAD]

May 27, 2004

To the Persons Listed
on Annex 1 hereto

      Re: $100,000,000 4.78% Senior Notes due June 1, 2014

Ladies and Gentlemen:

      Reference is made to the Note Purchase Agreement (collectively, the "NOTE
PURCHASE AGREEMENT"), dated as of May 27, 2004, between The J. M. Smucker
Company, an Ohio corporation (the "COMPANY"), and each of you, pursuant to which
the Company has issued to you today its 4.78% Senior Notes due June 1, 2014, in
the aggregate principal amount of $100,000,000. Unless otherwise defined herein,
all terms used herein that are defined in the Note Purchase Agreement have the
respective meanings specified in the Note Purchase Agreement. This letter is
being delivered to you in satisfaction of the condition set forth in Section
4.4(a) of the Note Purchase Agreement and with the understanding that you are
purchasing the 4.78% Senior Notes due June 1, 2014 in reliance on the opinions
expressed herein.

      I am the Vice President, General Counsel and Secretary of the Company, and
the Secretary of MIX Acquisition Corporation, a Delaware corporation and wholly
owned subsidiary of the Company ("SUBSIDIARY GUARANTOR"), and have acted as
counsel for the Company and the Subsidiary Guarantor in connection with the
transactions contemplated by the Note Purchase Agreement and the Guaranty
Agreement (as defined below).

      In acting as such counsel, I have examined:

            (a) an executed copy of the Note Purchase Agreement;

            (b) executed copies of each of the Company's 4.78% Senior Notes due
      June 1, 2014, each dated the date hereof, in the form of Exhibit 1 to the
      Note Purchase Agreement and registered in the names, in the principal
      amounts and with the registration numbers set forth in Schedule A to the
      Note Purchase Agreement (collectively, the "NOTES");

            (c) an executed copy of the Guaranty Agreement, dated as of May 27,
      2004 (the "GUARANTY AGREEMENT"), pursuant to which the Subsidiary
      Guarantor guarantees the obligations of the Company under and in respect
      of the Notes and the Note Purchase Agreement pursuant to the provisions
      thereof;

                                 Exhibit 4.4(a)-1

<PAGE>

            (d) a long-form good standing certificate for the Company from the
      State of Ohio, and foreign good standing certificates for the Company from
      each of the states where the Company is qualified to do business;

            (e) a long-form good standing certificate for the Subsidiary
      Guarantor from the State of Delaware;

            (f) a copy of the Articles of Incorporation of the Company, as
      amended and in effect on the date hereof, certified by the State of Ohio,
      and a copy of the Regulations of the Company, as amended and in effect on
      the date hereof, and the resolutions adopted by the board of directors of
      the Company authorizing the Note Purchase Agreement and the Notes, as
      certified by the Secretary of the Company;

            (g) a copy of the Certificate of Incorporation of the Subsidiary
      Guarantor, as in effect on the date hereof, certified by the State of
      Delaware, and a copy of the By-Laws of the Subsidiary Guarantor, as in
      effect on the date hereof, and the resolutions adopted by the board of
      directors of the Subsidiary Guarantor authorizing the Guaranty Agreement,
      as certified by the Secretary of the Subsidiary Guarantor;

            (h) a letter to Bingham McCutchen LLP and the Company from William
      Blair & Company, L.L.C., dated the date hereof, describing the manner of
      the offering of the Notes (the "OFFEREE LETTER"); and

            (i) originals, or copies certified or otherwise identified to my
      satisfaction, of such other documents, records, instruments and
      certificates of public officials and officers and representatives of the
      Company and the Subsidiary Guarantor as to factual matters as I have
      deemed necessary or appropriate to enable me to render this opinion.

      In rendering my opinion, I have assumed that all signatures (other than
signatures of officers and directors of the Company and the Subsidiary
Guarantor) are genuine, that all documents submitted to me as originals are
genuine, that all copies submitted to me as copies conform to the originals,
that all natural Persons have legal capacity and, as to documents executed by or
on behalf of Persons other than the Company or the Subsidiary Guarantor, that
each such Person executing documents had the power to enter into and perform its
obligations under such documents and that such documents have been duly
authorized, executed and delivered by, and are binding upon and enforceable
against, such Persons. I have no actual knowledge of any information that would
indicate that any of my assumptions are invalid.

      In rendering my opinion, I have relied, to the extent I deem necessary and
proper, on:

            (i) warranties and representations as to certain factual matters
      contained in the Note Purchase Agreement; and

            (ii) the Offeree Letter.

      I have no actual knowledge of any material inaccuracies in any of the
facts contained in the documents listed in item (i) or item (ii) above.

      I am admitted to the practice of law solely in the State of Ohio and the
opinions expressed herein are limited to the laws of the State of Ohio, the
General Corporation Law of the State of Delaware and to the federal law of the
United States. No opinion is expressed herein as

                                Exhibit 4.4(a)-2

<PAGE>

to the laws of any other jurisdiction. I call your attention to the fact that
the Note Purchase Agreement, the Notes and the Guaranty Agreement are governed
by the laws of the State of New York. In rendering the opinions in paragraphs 6
and 7 below, I have assumed that the laws of the State of New York are the same
as the laws of the State of Ohio (excluding choice of law rules, as to which I
express no opinion).

      Based on the foregoing, and subject to the further assumptions, exceptions
and limitations set forth below, it is my opinion that:

1.          Each of the Company and the Subsidiary Guarantor is a corporation,
      validly existing and in good standing under the laws of the state of its
      incorporation and has all requisite corporate power and authority to carry
      on its business as presently conducted and own its property.

2.          Each of the Company and the Subsidiary Guarantor is qualified and is
      in good standing as a foreign corporation in each jurisdiction where the
      character of its properties or the nature of its activities makes such
      qualification necessary, except where the failure to so qualify and be in
      good standing would not have a material adverse effect on the ability of
      the Company to perform its obligations under the Note Purchase Agreement
      and the Notes or the Subsidiary Guarantor to perform its obligations under
      the Guaranty Agreement.

3.          To the best of my knowledge after due inquiry, there is no judgment,
      order, action, suit, proceeding, inquiry, order or investigation, at law
      or in equity, before any court or governmental authority, arbitration
      board or tribunal, pending or threatened against the Company, the
      Subsidiary Guarantor or any of their respective properties which would
      have a material adverse effect on the ability of the Company to perform
      its obligations under the Note Purchase Agreement and the Notes or the
      Subsidiary Guarantor to perform its obligations under the Guaranty
      Agreement.

4.          The Company has the requisite corporate power and authority to
      execute and deliver each of the Note Purchase Agreement and the Notes and
      to perform its obligations set forth in each of the Note Purchase
      Agreement and the Notes. The Company has the requisite corporate power and
      authority to offer, issue and sell the Notes.

5.          The Subsidiary Guarantor has the requisite corporate power and
      authority to execute and deliver the Guaranty Agreement and to perform its
      obligations set forth in the Guaranty Agreement.

6.          Each of the Note Purchase Agreement and the Notes has been duly
      authorized by all necessary corporate action on the part of the Company
      (no action on the part of the shareholders of the Company being required
      with respect thereto), has been executed and delivered by one or more duly
      authorized officers of the Company and constitutes a legal, valid and
      binding obligation of the Company, enforceable against the Company in
      accordance with its terms.

                                Exhibit 4.4(a)-3

<PAGE>

7.          The Guaranty Agreement has been duly authorized by all necessary
      corporate action on the part of the Subsidiary Guarantor (no action on the
      part of the shareholders of the Subsidiary Guarantor being required with
      respect thereto), has been executed and delivered by one or more duly
      authorized officers of the Subsidiary Guarantor and constitutes a legal,
      valid and binding obligation of the Subsidiary Guarantor, enforceable
      against the Subsidiary Guarantor in accordance with its terms.

8.          The execution and delivery by the Company of each of the Note
      Purchase Agreement and the Notes, the offer, issue and sale of the Notes
      by the Company and the performance by the Company of its obligations under
      the Note Purchase Agreement and the Notes will not conflict with,
      constitute a violation of, result in a breach of any provision of,
      constitute a default under, or result in the creation or imposition of any
      Lien upon any of the property of the Company pursuant to its Articles of
      Incorporation or Regulations, any applicable statute, rule or regulation
      to which the Company is subject, or any agreement or instrument relating
      to the borrowing of money to which the Company is a party or by which its
      property may be bound.

9.          The execution and delivery by the Subsidiary Guarantor of the
      Guaranty Agreement and the performance by the Subsidiary Guarantor of its
      obligations under the Guaranty Agreement will not conflict with,
      constitute a violation of, result in a breach of any provision of,
      constitute a default under, or result in the creation or imposition of any
      Lien upon any of the property of the Subsidiary Guarantor pursuant to its
      Certificate of Incorporation or By-Laws, any applicable statute, rule or
      regulation to which the Subsidiary Guarantor is subject, or any agreement
      or instrument relating to the borrowing of money to which the Subsidiary
      Guarantor is a party or by which its property may be bound.

10.         Other than routine filings with the Securities and Exchange
      Commission, all consents, approvals and authorizations of, and all
      designations, declarations, filings, registrations, qualifications and
      recordations with, Governmental Authorities required on the part of the
      Company and the Subsidiary Guarantor in connection with the execution and
      delivery of each of the Note Purchase Agreement, the Notes and the
      Guaranty Agreement, the offer, issue and sale of the Notes and the use of
      the proceeds thereof have been obtained.

11.         Based upon the accuracy of the terms of the Offeree Letter and the
      accuracy of each of your representations and warranties set forth in the
      Note Purchase Agreement, neither the issuance and sale of the Notes to
      each of you, under the circumstances contemplated by the Note Purchase
      Agreement, nor the entering into the Guaranty Agreement, is subject to the
      registration requirements under the Securities Act of 1933, and neither
      the Company nor the Subsidiary Guarantor is required to qualify an
      indenture with respect to the Notes under the Trust Indenture Act of 1939,
      as amended.

12.         Neither the issuance of the Notes nor the intended use of the
      proceeds of the Notes (as set forth in Section 5.14 of the Note Purchase
      Agreement)will violate Regulations T, U or X of the Federal Reserve Board.

                                Exhibit 4.4(a)-4

<PAGE>

13.         Neither the Company nor the Subsidiary Guarantor is an "investment
      company" within the meaning of the Investment Company Act of 1940, as
      amended, or a "holding company" or an "affiliate" of a "holding company,"
      or a "subsidiary company" of a "holding company," or a "public utility"
      within the meaning of the Public Utility Holding Company Act of 1935, as
      amended.

      All opinions herein contained with respect to the enforceability of
agreements and instruments are qualified to the extent that:

            (a) the availability of equitable remedies, including, without
      limitation, specific enforcement and injunctive relief, is subject to the
      discretion of the court before which any proceedings therefor may be
      brought; and

            (b) the enforceability of certain terms provided in the Note
      Purchase Agreement, the Notes and the Guaranty Agreement may be limited by
      applicable bankruptcy, reorganization, arrangement, insolvency, moratorium
      or similar laws affecting the enforcement of creditors' rights generally
      as at the time in effect, and general principles of equity and the
      discretion of a court in granting equitable remedies (whether
      enforceability is considered in a proceeding at law or in equity).

      I acknowledge that this opinion is being issued at the request of the
Company pursuant to paragraph 4.4(a) of the Note Purchase Agreement and I agree
that you and each of your respective successors and assigns (including, without
limitation, subsequent holders of the Notes) may rely on this opinion as if it
were addressed to such successor and assign. Bingham McCutchen LLP may rely on
this opinion for the sole purpose of rendering its opinion to be rendered
pursuant to paragraph 4.4(b) of the Note Purchase Agreement.

                                                Very truly yours,

                                                M. Ann Harlan
                                                Vice President, General Counsel
                                                and Secretary

                                Exhibit 4.4(a)-5

<PAGE>

                                     ANNEX 1
                                   PURCHASERS

                                Exhibit 4.4(a)-6

<PAGE>

                                                                  EXHIBIT 4.4(b)

                       FORM OF OPINION OF SPECIAL COUNSEL
                               FOR THE PURCHASERS

                              [BINGHAM LETTERHEAD]

May 27, 2004

To each of the Purchasers listed on the attached Annex 1

RE: THE J. M. SMUCKER COMPANY
    $100,000,000 4.78% Senior Notes due June 1, 2014

Ladies and Gentlemen:

      We have acted as special counsel to each of you (collectively, the
"PURCHASERS") in connection with that certain Note Purchase Agreement, dated as
of May 27, 2004 (the "NOTE PURCHASE AGREEMENT"), between The J. M. Smucker
Company, an Ohio corporation (the "COMPANY"), and each of the Purchasers, which
provides, among other things, for the issuance and sale by the Company of the
Company's 4.78% Senior Notes (the "NOTES") due June 1, 2014, in the aggregate
principal amount of $100,000,000.

      The capitalized terms used herein and not defined herein have the meanings
assigned to them by or pursuant to the terms of the Note Purchase Agreement.
This opinion is delivered to each of the Purchasers pursuant to Section 4.4(b)
of the Note Purchase Agreement. Our representation of the Purchasers has been as
special counsel for the purposes stated above.

      In connection with this opinion, we have examined originals or copies of
the following documents:

            (i) the Note Purchase Agreement;

            (ii) the Notes;

            (iii) the Guaranty Agreement, dated as of the date hereof (the
      "GUARANTY AGREEMENT") by MIX Acquisition Corporation, a Delaware
      corporation (the "SUBSIDIARY GUARANTOR" and together with the Company,
      collectively, the "OBLIGORS"), in favor of each of the Purchasers;

            (iv) a certificate of the Secretary of the Company, dated the date
      hereof, delivered pursuant to Section 4.3(b) of the Note Purchase
      Agreement certifying, among other things, that the attached certificate of

<PAGE>

To each of the Purchasers listed on the attached Annex 1
May 27, 2004
Page 2

      incorporation and by-laws of the Company and those certain resolutions
      passed by the Board of Directors of the Company authorizing participation
      in the transactions contemplated by the Financing Documents (as
      hereinafter defined) to which it is a party, are true, complete and
      correct copies thereof and are in full force and effect, and as to the
      incumbency and specimen signatures of certain officers;

            (v) a certificate of the Secretary of the Subsidiary Guarantor,
      dated the date hereof, delivered pursuant to Section 4.3(c) of the Note
      Purchase Agreement certifying, among other things, that the attached
      certificate of incorporation and by-laws or other governing documents of
      the Subsidiary Guarantor and those certain resolutions passed by the Board
      of Directors of the Subsidiary Guarantor authorizing participation in the
      transactions contemplated by the Financing Documents to which the
      Subsidiary Guarantor is a party, are true, complete and correct copies
      thereof and are in full force and effect, and as to the incumbency and
      specimen signatures of certain officers;

            (vi) an Officer's Certificate of the Company, dated the date hereof,
      with respect to the matter set forth therein, delivered pursuant to
      Section 4.3(a) of the Note Purchase Agreement;

            (vii) a cross receipt acknowledging payment and receipt of the
      purchase price for the Notes;

            (viii) a letter from William Blair & Company L.L.C., dated May 25,
      2004, making certain representations with respect to the manner in which
      the Notes were offered (the "OFFEREE LETTER"); and

            (ix) the opinion of M. Ann Harlan, General Counsel of the Company
      and counsel for the Subsidiary Guarantor, dated the date hereof and
      delivered to the Purchasers pursuant to Section 4.4(a) of the Note
      Purchase Agreement.

      The documents specified in clauses (i) through (iii) hereof, inclusive,
are referred to herein, collectively, as the "FINANCING DOCUMENTS." This opinion
is based entirely upon our examination of the documents listed in the preceding
paragraph and we have made no other documentary review or investigation for
purposes of this opinion. Based on such investigation as we have deemed
appropriate, the opinion referred to in clause (ix) above is satisfactory in
form and scope to us, and, in our opinion, you are justified in relying thereon.

      As to all matters of fact (including factual conclusions and
characterizations and descriptions of purpose, intention or other state of
mind), we

<PAGE>

To each of the Purchasers listed on the attached Annex 1
May 27, 2004
Page 3

have relied, with the Purchasers' permission, entirely upon (1) the
representations and warranties of the Obligors and the Purchasers set forth in
the Note Purchase Agreement and the Guaranty Agreement, (2) the correctness of
all statements set forth in the certificates described in clauses (iv) through
(vi) above, and (3) the Offeree Letter, and have assumed, without independent
inquiry, the accuracy of such representations, warranties, certificates and
letter.

      We have assumed the genuineness of all signatures, the conformity to the
originals of all documents reviewed by us as copies, the authenticity and
completeness of all original documents reviewed by us in original or copy form,
the legal competence of each individual executing any document and that each
Person executing the Financing Documents validly exists, has the power,
authority and legal right under its articles or certificate of incorporation,
by-laws and other governing organizational documents, and under applicable
corporate or other enterprise legislation and other applicable laws, as the case
may be, to enter into and perform its obligations under the Financing Documents,
and is qualified to do business and in good standing under the laws of its
jurisdiction of incorporation or organization and each jurisdiction where such
qualification is required generally or is necessary in order for such party to
enforce its rights under such documents, and that such documents have been duly
authorized, executed and delivered by, and, as to Persons other than the
Obligors, are binding upon and enforceable against, such Persons. In addition,
we have relied upon the Offeree Letter without independent investigation.

      For purposes of this opinion, we have made such examination of law as we
have deemed necessary. This opinion is limited solely to the internal
substantive laws of the State of New York as applied by courts located in the
State of New York without regard to choice of law (except to the extent
addressed in paragraph 5 below) and the federal laws of the United States of
America (in each case, except for federal and state tax, utilities and antitrust
laws, as to which we express no opinion in this letter), and we express no
opinion as to the laws of any other jurisdiction. In addition, we note that the
Financing Documents contain provisions stating that they are to be governed by
the laws of the State of New York (a "CHOICE OF LAW PROVISION"). Except to the
extent addressed below in paragraph 5, no opinion is given herein as to any
Choice of Law Provision, or otherwise as to the choice of law or internal
substantive rules of law that any court or other tribunal may apply to the
transactions contemplated by the Financing Documents. Except as set forth in
paragraph 4 below, we express no opinions as to any securities or "blue sky"
laws of any jurisdiction.

      Our opinion is further subject to the following exceptions, qualifications
and assumptions, all of which we understand to be acceptable to the Purchasers:

<PAGE>

To each of the Purchasers listed on the attached Annex 1
May 27, 2004
Page 4

            (a) The enforcement of any obligations of any Person under the
      Financing Documents or otherwise may be limited by or subject to
      bankruptcy, insolvency, reorganization, moratorium, marshaling or other
      laws and rules of law affecting the enforcement generally of creditors'
      rights and remedies (including such as may deny giving effect to waivers
      of debtors' or guarantors' rights), and we express no opinion as to the
      status under any fraudulent conveyance laws or fraudulent transfer laws of
      any of the obligations of any Person, whether under the Financing
      Documents or otherwise.

            (b) We express no opinion as to the availability of any specific or
      equitable relief of any kind.

            (c) The enforcement of any of the Purchasers' rights may in all
      cases be subject to an implied duty of good faith and fair dealing and to
      general principles of equity (regardless of whether such enforceability is
      considered in a proceeding at law or in equity) and will be subject to a
      duty to act in a commercially reasonable manner.

            (d) We express no opinion as to the effect of suretyship defenses,
      or defenses in the nature thereof, with respect to the obligations of the
      Subsidiary Guarantor or any other applicable guarantor, joint obligor,
      surety, accommodation party or other secondary obligor.

            (e) We express no opinion as to the enforceability of any particular
      provision of any of the Financing Documents relating to or constituting
      (i) waivers of rights to object to jurisdiction or venue, consents to
      jurisdiction or venue, or waivers of rights to (or methods of) service of
      process, (ii) waivers of rights to trial by jury, or other rights or
      benefits bestowed by operation of law, (iii) waivers of any applicable
      defenses, setoffs, recoupments, or counterclaims, (iv) waiver or
      variations of legal provisions or rights that are not capable of waiver or
      variation under applicable law, or (v) exculpation or exoneration clauses,
      clauses relating to rights of indemnity or contribution, and clauses
      relating to releases or waivers of unmatured claims or rights.

            (f) Our opinion in paragraph 3 below is based solely on a review of
      generally applicable laws of the State of New York and the United States
      of America and not on any search with respect to, or review of, any
      orders, decrees, judgments or other determinations specifically applicable
      to any Obligor.

<PAGE>

To each of the Purchasers listed on the attached Annex 1
May 27, 2004
Page 2

            (g) We express no opinion as to the effect of events occurring,
      circumstances arising, or changes of law becoming effective or occurring
      after the date hereof on the matters addressed in this opinion letter, and
      we assume no responsibility to inform you of additional or changed facts,
      or changes in law, of which we may become aware.

      Based upon the foregoing, and subject to the limitations and
qualifications set forth below, we are of the opinion that:

      1. Each of the Note Purchase Agreement and the Notes constitutes the
legal, valid and binding obligation of the Company, enforceable against the
Company in accordance with its respective terms. The Guaranty Agreement
constitutes the legal, valid and binding obligation of the Subsidiary Guarantor,
enforceable against it in accordance with the terms thereof.

      2. The execution and delivery by the Company of the Note Purchase
Agreement and the Notes, and the sale of the Notes and compliance by the Company
with the provisions thereof, will not constitute a violation of any law,
statute, rule or regulation of the State of New York. The execution and delivery
by the Subsidiary Guarantor of the Guaranty Agreement and compliance by the
Subsidiary Guarantor with the provisions thereof will not constitute a violation
of any law, statute, rule or regulation of the State of New York.

      3. No consent, approval or authorization of, or designation, declaration,
filing, registration, qualification or recordation with, any Governmental
Authority in respect of the Company or the Subsidiary Guarantor is required to
be obtained or effected under the laws of the State of New York or the United
States of America in connection with (a) the execution and delivery by the
Company of the Note Purchase Agreement or the Notes, (b) the offer, issue, sale
and delivery of the Notes by the Company under the circumstances contemplated by
the Note Purchase Agreement, or (c) the execution and delivery by the Subsidiary
Guarantor of the Guaranty Agreement.

      4. Under the circumstances contemplated by the Note Purchase Agreement,
neither the offer and sale by the Company of the Notes delivered to the
Purchasers today nor the issuance and delivery by the Subsidiary Guarantor of
the Guaranty Agreement to the Purchasers requires registration under the
Securities Act of 1933, as amended, and the Company is not required to qualify
an indenture in respect of the issuance of the Notes under the Trust Indenture
Act of 1939, as amended.

      5. The Choice of Law Provisions are enforceable in accordance with New
York General Obligations Law section 5-1401, as applied by a New York

<PAGE>

To each of the Purchasers listed on the attached Annex 1
May 27, 2004
Page 6

State court or a federal court sitting in New York and applying New York choice
of law principles.

<PAGE>

To each of the Purchasers listed on the attached Annex 1
May 27, 2004
Page 7

      This opinion is delivered solely to the Purchasers and for the Purchasers'
benefit in connection with the Financing Documents and may not be relied upon by
the Purchasers for any other purpose or relied upon by any other person or
entity (other than future holders of Notes acquired in accordance with the terms
of the Note Purchase Agreement) for any reason without our prior written
consent.

                                                    Very truly yours,

                                                    BINGHAM McCUTCHEN LLP

<PAGE>

                                     ANNEX 1

                                   PURCHASERS

THE TRAVELERS INSURANCE COMPANY
242 Trumbull Street, 7th Floor
Hartford, CT 06115-0449

THE TRAVELERS LIFE AND ANNUITY COMPANY
242 Trumbull Street, 7th Floor
Hartford, CT 06115-0449

PRIMERICA LIFE INSURANCE COMPANY
242 Trumbull Street, 7th Floor
Hartford, CT 06115-0449

CITICORP INSURANCE AND INVESTMENT TRUST
242 Trumbull Street, 7th Floor
Hartford, CT 06115-0449

NATIONAL BENEFIT LIFE INSURANCE COMPANY
242 Trumbull Street, 7th Floor
Hartford, CT 06115-0449

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
c/o Prudential Capital Group
Two Prudential Plaza, Suite 5600
180 North Stetson Avenue
Chicago, IL 60601

GENERAL ELECTRIC CAPITAL ASSURANCE COMPANY
c/o Prudential Private Placement Investors, L.P.
4 Gateway Center
100 Mulberry Street
Newark, NJ 07102

MINNESOTA LIFE INSURANCE COMPANY
c/o Advantus Capital Management, Inc.
400 Robert Street North
St. Paul, MN 55101

TRUSTMARK LIFE INSURANCE COMPANY
c/o Advantus Capital Management, Inc.
400 Robert Street North
St. Paul, MN 55101

                                Exhibit 4.4(b)-1

<PAGE>

AMERICAN FIDELITY ASSURANCE COMPANY
c/o Advantus Capital Management, Inc.
400 Robert Street North
St. Paul, MN 55101

THE LAFAYETTE LIFE INSURANCE COMPANY
c/o Advantus Capital Management, Inc.
400 Robert Street North
St. Paul, MN 55101

INDUSTRIAL-ALLIANCE PACIFIC LIFE INSURANCE COMPANY
c/o Advantus Capital Management, Inc.
400 Robert Street North
St. Paul, MN 55101

EDUCATORS MUTUAL LIFE INSURANCE COMPANY
c/o Advantus Capital Management, Inc.
400 Robert Street North
St. Paul, MN 55101

GREAT WESTERN INSURANCE COMPANY
c/o Advantus Capital Management, Inc.
400 Robert Street North
St. Paul, MN 55101

MODERN WOODMEN OF AMERICA
1701 First Avenue
Rock Island, IL 61201

                                Exhibit 4.4(b)-2

<PAGE>

                                                                    EXHIBIT 4.11

                           FORM OF GUARANTY AGREEMENT

      This GUARANTY AGREEMENT (as the same may hereafter be amended,
supplemented or otherwise modified, this "GUARANTY"), dated as of May 27, 2004,
is by MIX ACQUISITION CORPORATION, a Delaware corporation (together with its
successors and assigns, the "GUARANTOR,") in favor of the Noteholders (defined
below).

                                    RECITALS:

      WHEREAS, the Guarantor is a Wholly-Owned Subsidiary of The J.M. Smucker
Company, an Ohio corporation (together with its successors and assigns, the
"COMPANY");

      WHEREAS, the Company has entered into a certain Note Purchase Agreement,
dated as of the date hereof (as may be amended, modified, restated or replaced
from time to time, the "NOTE PURCHASE AGREEMENT"), with each of the purchasers
listed on Schedule A attached thereto (collectively, the "PURCHASERS," and
together with their successors and assigns including, without limitation, future
holders of the Notes (defined below), herein collectively referred to as the
"NOTEHOLDERS"), pursuant to which the Company, among other things, is issuing to
the Purchasers its 4.78% Senior Notes due June 1, 2014, in the aggregate
principal amount of $100,000,000 (as may be amended or modified, from time to
time, the "NOTES"); and

      WHEREAS, to induce each Purchaser to purchase the Notes, the Guarantor is
required pursuant to the Note Purchase Agreement to guaranty unconditionally all
of the obligations of the Company under and in respect of the Notes and the Note
Purchase Agreement pursuant to the terms and provisions hereof.

      NOW THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Guarantor hereby agrees as follows:

1. DEFINITIONS.

      All capitalized terms used herein and not defined herein have the
respective meanings given them in the Note Purchase Agreement.

2. GUARANTY.

      2.1. GUARANTEED OBLIGATIONS.

      The Guarantor, in consideration of the execution and delivery of the Note
Purchase Agreement and the purchase of the Notes by the Purchasers, hereby
irrevocably, unconditionally and absolutely guarantees, on a continuing basis,
to each Noteholder as and for the Guarantor's own debt, until final and
indefeasible payment of the amounts referred to in clause (a) below has been
made:

<PAGE>

            (a) the due and punctual payment by the Company of the principal of,
      and the Make-Whole Amount (if any) and interest on, the Notes at any time
      outstanding and the due and punctual payment of all other amounts payable,
      and all other Indebtedness owing, by the Company to the Noteholders under
      the Note Purchase Agreement and the Notes (including, without limitation,
      any monetary obligations incurred during the pendency of any bankruptcy,
      insolvency, winding-up, receivership or other similar proceeding
      regardless of whether allowed or allowable in such proceeding including,
      without limitation, interest accrued on the Notes during any such
      proceeding), in each case when and as the same shall become due and
      payable, whether at maturity, pursuant to mandatory or optional
      prepayment, by acceleration or otherwise, all in accordance with the terms
      and provisions hereof and thereof; it being the intent of the Guarantor
      that the guarantee set forth herein shall be a continuing guarantee of
      payment and not a guarantee of collection; and

            (b) the punctual and faithful performance, keeping, observance, and
      fulfillment by the Company of all duties, agreements, covenants and
      obligations of the Company contained in the Note Purchase Agreement and
      the Notes.

      All of the obligations set forth in clause (a) and clause (b) of this
Section 2.1 are referred to herein as the "GUARANTEED OBLIGATIONS."

      2.2. PAYMENTS AND PERFORMANCE.

      In the event that the Company fails to make, on or before the due date
thereof, any payment to be made in respect of the Guaranteed Obligations or if
the Company shall fail to perform, keep, observe, or fulfill any other
obligation referred to in clause (a) or clause (b) of Section 2.1 in the manner
provided in the Note Purchase Agreement and the Notes, the Guarantor shall cause
forthwith to be paid the moneys, or to be performed, kept, observed, or
fulfilled each of such obligations, in respect of which such failure has
occurred in accordance with the terms and provisions of the Note Purchase
Agreement and the Notes. In furtherance of the foregoing, if an Event of Default
shall exist under paragraph (g) or (h) of Section 11 of the Note Purchase
Agreement, all of the Guaranteed Obligations shall forthwith become due and
payable without notice, regardless of whether the acceleration of the Notes
shall be stayed, enjoined, delayed or otherwise prevented.

      Nothing shall discharge or satisfy the obligations of the Guarantor
hereunder except the full and final performance and indefeasible payment of the
Guaranteed Obligations.

      2.3. RELEASES.

      The Guarantor consents and agrees that, without any notice whatsoever to
or by the Guarantor and without impairing, releasing, abating, deferring,
suspending, reducing, terminating or otherwise affecting the obligations of the
Guarantor hereunder, each Noteholder, by action or inaction, may:

            (a) compromise or settle, renew or extend the period of duration or
      the time for the payment, or discharge the performance of, or may refuse
      to, or otherwise not, enforce, or may, by action or inaction, release all
      or any one or more parties to, any one

                                       2
<PAGE>

      or more of the Note Purchase Agreement, the Notes, or any other guaranty
      or agreement or instrument related thereto or hereto;

            (b) assign, sell or transfer, or otherwise dispose of, any one or
      more of the Notes;

            (c) grant waivers, extensions, consents and other indulgences of any
      kind whatsoever to the Company, the Guarantor or any other Person liable
      in any manner in respect of all or any part of the Guaranteed Obligations;

            (d) amend, modify or supplement in any manner whatsoever and at any
      time (or from time to time) any one or more of the Note Purchase
      Agreement, the Notes, any other guaranty or any agreement or instrument
      related thereto or hereto;

            (e) release or substitute any one of more of the endorsers or any
      other guarantors of the Guaranteed Obligations whether parties hereto or
      not; and

            (f) sell, exchange, release, accept, surrender or enforce rights in,
      or fail to obtain or perfect or to maintain, or cause to be obtained,
      perfected or maintained, the perfection of any Lien or other security
      interest or charge on, by action or inaction, any property at any time
      pledged or granted as security in respect of the Guaranteed Obligations,
      whether so pledged or granted by the Company, the Guarantor or any other
      Person.

      The Guarantor hereby ratifies and confirms any such action specified in
this Section 2.3 and agrees that the same shall be binding upon the Guarantor,
whether or not the Guarantor shall have consented thereto or received notice
thereof. The Guarantor hereby waives any and all defenses, counterclaims or
offsets which the Guarantor might or could have by reason thereof.

      2.4. WAIVERS.

      To the fullest extent permitted by law, the Guarantor hereby waives:

            (a) notice of acceptance of this Guaranty;

            (b) notice of any purchase or acceptance of the Notes under the Note
      Purchase Agreement, or the creation, existence or acquisition of any of
      the Guaranteed Obligations, subject to the Guarantor's right to make
      inquiry of each Noteholder to ascertain the amount of the Guaranteed
      Obligations at any reasonable time;

            (c) notice of the amount of the Guaranteed Obligations, subject to
      the Guarantor's right to make inquiry of each Noteholder to ascertain the
      amount of the Guaranteed Obligations at any reasonable time;

            (d) notice of adverse change in the financial condition of the
      Company or any other guarantor or any other fact that might increase the
      Guarantor's risk hereunder;

                                       3
<PAGE>

            (e) notice of presentment for payment, demand, protest, and notice
      thereof as to the Notes or any other instrument;

            (f) notice of any Default or Event of Default;

            (g) all other notices and demands to which the Guarantor might
      otherwise be entitled (except if such notice or demand is specifically
      otherwise required to be given to the Guarantor under this Guaranty);

            (h) the right by statute or otherwise to require any or each
      Noteholder to institute suit against the Company, the Guarantor or any
      other guarantor or to exhaust the rights and remedies of any or each
      Noteholder against the Company, the Guarantor, or any other guarantor, the
      Guarantor being bound to the payment of each and all Guaranteed
      Obligations, whether now existing or hereafter accruing, as fully as if
      such Guaranteed Obligations were directly owing to each Noteholder by the
      Guarantor;

            (i) any defense arising by reason of any disability or other defense
      (other than the defense that the Guaranteed Obligations shall have been
      fully and finally performed and indefeasibly paid) of the Company or by
      reason of the cessation from any cause whatsoever of the liability of the
      Company in respect thereof;

            (j) any stay (except in connection with a pending appeal),
      valuation, appraisal, redemption or extension law now or at any time
      hereafter in force that, but for this waiver, might be applicable to any
      sale of property of the Guarantor made under any judgment, order or decree
      based on the Note Purchase Agreement, the Notes or this Guaranty, and the
      Guarantor covenants that it will not at any time insist upon or plead, or
      in any manner claim or take the benefit or advantage of, any such law; and

            (k) at all times prior to the full and final performance and
      indefeasible payment of the Guaranteed Obligations, any claim of any
      nature arising out of any right of indemnity, contribution, reimbursement,
      indemnification or any similar right or any claim of subrogation (whether
      such right or claim arises under contract, common law or statutory or
      civil law) arising in respect of any payment made under this Guaranty or
      in connection with this Guaranty, against the Company or the Guarantor or
      the estate of the Company (including Liens on the property of the Company
      or the estate of the Company or the Guarantor), in each case whether or
      not the Company or the Guarantor at any time shall be the subject of any
      proceeding brought under any bankruptcy law, and the Guarantor further
      agrees that it will not file any claims against the Company or the
      Guarantor or the estate of the Company or the Guarantor in the course of
      any such proceeding or otherwise, and further agrees that each Noteholder
      may specifically enforce the provisions of this clause (k).

      2.5. MARSHALING; INVALID PAYMENTS.

      The Guarantor consents and agrees:

                                       4
<PAGE>

            (a) that each Noteholder, and each Person acting for the benefit of
      one or more of the Noteholders, shall be under no obligation to marshal
      any assets in favor of the Guarantor or against or in payment of any or
      all of the Guaranteed Obligations; and

            (b) that, to the extent that the Company or the Guarantor makes a
      payment or payments to any Noteholder, which payment or payments or any
      part thereof are subsequently invalidated, declared to be fraudulent or
      preferential, set aside or required, for any of the foregoing reasons or
      for any other reason, to be repaid or paid over to a custodian, trustee,
      receiver, administrative receiver, administrator or any other party or
      officer under any bankruptcy law, insolvency, reorganization,
      recapitalization or other debtor relief law, other common or civil law, or
      equitable cause or judgment, order or decision thereunder, then, to the
      extent of such payment or repayment, the obligation or part thereof
      intended to be satisfied thereby shall be revived and continued in full
      force and effect as if such payment or payments had not been made and the
      Guarantor shall be primarily liable for such obligation.

      2.6. IMMEDIATE LIABILITY.

      The Guarantor agrees that the liability of the Guarantor in respect of
this Guaranty shall be immediate and shall not be contingent upon the exercise
or enforcement by any Noteholder or any other Person of whatever remedies such
Noteholder or other Person may have against the Company, the Guarantor or any
other guarantor or the enforcement of any Lien or realization upon any security
such Noteholder or other Person may at any time possess.

      2.7. PRIMARY OBLIGATIONS.

      This Guaranty is a primary and original obligation of the Guarantor and is
an absolute, unconditional, continuing and irrevocable guaranty of payment and
performance and shall remain in full force and effect regardless of any action
by any Noteholder specified in Sections 2.3 or 2.8 hereof or any future changes
in conditions, including, without limitation, change of law or any invalidity or
irregularity with respect to the issuance or assumption of any obligations
(including, without limitation, the Notes) of or by the Company, the Guarantor
or any other guarantor, or with respect to the execution and delivery of any
agreement (including, without limitation, the Notes and the Note Purchase
Agreement) of the Company or any other Person.

      2.8. NO REDUCTION OR DEFENSE.

      The obligations of the Guarantor under this Guaranty, and the rights of
any Noteholder to enforce such obligations by any proceedings, whether by action
at law, suit in equity or otherwise, shall not be subject to any reduction,
limitation, impairment or termination, whether by reason of any claim of any
character whatsoever or otherwise, including, without limitation, claims of
waiver, release, surrender, alteration or compromise, and shall not be subject
to any defense (other than any defense based upon the irrevocable payment and
performance in full of the obligations of the Company under the Note Purchase
Agreement and the Notes), set-off, counterclaim, recoupment or termination
whatsoever.

      Without limiting the generality of the foregoing, no obligations of the
Guarantor shall be discharged or impaired by:

                                       5
<PAGE>

            (a) any default (including, without limitation, any Default or Event
      of Default), failure or delay, willful or otherwise, in the performance of
      any obligations by the Guarantor, the Company, any Subsidiary or any of
      their respective Affiliates;

            (b) any proceeding of, or involving, the Company, the Guarantor or
      any other Subsidiary under any bankruptcy law, or any merger,
      consolidation, reorganization, dissolution, liquidation, sale of assets or
      winding-up or change in corporate constitution or corporate identity or
      loss of corporate identity of the Company, the Guarantor any of the other
      Subsidiaries or any of their respective Affiliates;

            (c) any incapacity or lack of power, authority or legal personality
      of, or dissolution or change in the members or status of, the Company or
      any other Person;

            (d) impossibility or illegality of performance on the part of the
      Company under the Notes, the Note Purchase Agreement or any other
      instruments or agreements;

            (e) the invalidity, irregularity or unenforceability of the Notes,
      the Note Purchase Agreement or any other instruments or agreements;

            (f) in respect of the Company or any other Person, any change in law
      or change of circumstances, whether or not foreseen or foreseeable,
      whether or not imputable to the Company or any other Person, or other
      impossibility of performance through fire, explosion, accident, labor
      disturbance, floods, droughts, embargoes, wars (whether or not declared),
      terrorist activities, civil commotions, acts of God or the public enemy,
      delays or failure of suppliers or carriers, inability to obtain materials
      or any other causes affecting performance, or any other force majeure,
      whether or not beyond the control of the Company or any other Person and
      whether or not of the kind hereinbefore specified;

            (g) any attachment, claim, demand, charge, Lien, order, process or
      any other happening or event or reason, similar or dissimilar to the
      foregoing, or any withholding or diminution at the source, by reason of
      any taxes, assessments, expenses, indebtedness, obligations or liabilities
      of any character, foreseen or unforeseen, and whether or not valid,
      incurred by or against any Person, corporation or entity, or any claims,
      demands, charges or Liens of any nature, foreseen or unforeseen, incurred
      by any Person, or against any sums payable under the Note Purchase
      Agreement or the Notes, so that such sums would be rendered inadequate or
      would be unavailable to make the payments herein provided; or

            (h) any order, judgment, decree, ruling or regulation (whether or
      not valid) of any court of any nation or of any political subdivision
      thereof or any Governmental Authority, or any other action, happening,
      event or reason whatsoever which shall delay, interfere with, hinder or
      prevent, or in any way adversely affect, the performance by the Company of
      any of its obligations under the Note Purchase Agreement or the Notes.

      2.9. NO ELECTION.

                                       6
<PAGE>

      Each Noteholder shall, individually or collectively, have the right to
seek recourse against each and every Guarantor to the fullest extent provided
for herein for its obligations under this Guaranty. No election to proceed in
one form of action or proceeding, or against any party, or on any obligation,
shall constitute a waiver of such Noteholder's right to proceed in any other
form of action or proceeding or against other parties unless such Noteholder has
expressly waived such right in writing. Specifically, but without limiting the
generality of the foregoing, no action or proceeding by or on behalf of any
Noteholder against the Company, the Guarantor or any other Person under any
document or instrument evidencing obligations of the Company or such other
Person to or for the benefit of such Noteholder shall serve to diminish the
liability of the Guarantor under this Guaranty except to the extent that such
Noteholder unconditionally shall have realized payment by such action or
proceeding.

      2.10. INDIVIDUAL NOTEHOLDER RIGHTS.

      Each of the rights and remedies granted under this Guaranty to each
Noteholder in respect of the Notes held by such Noteholder may be exercised by
such Noteholder without notice to, or the consent of or any other action by, any
other Noteholder.

      2.11. ENFORCEMENT.

      Until all amounts which may be or become payable by the Company under or
in connection with the Note Purchase Agreement and the Notes, or by the
Guarantor under or in connection with this Guaranty, have been irrevocably paid
in full, any Noteholder (or any trustee or agent on its behalf) may refrain from
applying or enforcing any security or rights held or received by such Noteholder
(or any trustee or agent on its behalf) in respect of those amounts, or apply
and enforce the same in such manner and order as it sees fit (whether against
those amounts or otherwise) and the Guarantor shall not be entitled to the
benefit of the same.

      2.12. OTHER ENFORCEMENT RIGHTS.

      Each Noteholder may proceed to protect and enforce this Guaranty by suit
or suits or proceedings in equity, at law or in bankruptcy or insolvency, and
whether for the specific performance of any covenant or agreement contained
herein or in execution or aid of any power herein granted; or for the recovery
of judgment for the obligations hereby guaranteed or for the enforcement of any
other proper, legal or equitable remedy available under applicable law.

      2.13. RESTORATION OF RIGHTS AND REMEDIES.

      If any Noteholder shall have instituted any proceeding to enforce any
right or remedy against the Guarantor under this Guaranty or otherwise and such
proceeding shall have been discontinued or abandoned for any reason, or shall
have been determined adversely to such Noteholder, then and in every such case
each such Noteholder, the Company and the Guarantor shall, except as may be
limited or affected by any determination in such proceeding, be restored
severally and respectively to its respective former position hereunder, and
thereafter the rights and remedies of such Noteholder shall continue as though
no such proceeding had been instituted.

      2.14. SURVIVAL.

                                       7
<PAGE>

      So long as the Guaranteed Obligations shall not have been fully and
finally performed and indefeasibly paid, the obligations of the Guarantor under
this Guaranty shall survive the transfer and payment of any Note and the payment
in full of all the Notes.

      2.15. SUBORDINATION.

      The payment of any amounts due with respect to any Indebtedness of the
Company or any other Person obligated in respect of the Guaranteed Obligations
for money borrowed or credit received now or hereafter owed to the Guarantor is
hereby subordinated to the prior payment in full of all of the Guaranteed
Obligations. The Guarantor agrees that, after the occurrence of any default in
the payment or performance of any of the Guaranteed Obligations, no Guarantor
will demand, sue for or otherwise attempt to collect any such Indebtedness of
the Company or any other such Person to the Guarantor until all of the
Guaranteed Obligations shall have been paid in full. If, notwithstanding the
foregoing sentence, the Guarantor shall collect, enforce or receive any amounts
in respect of such Indebtedness while any Guaranteed Obligations are still
outstanding, such amounts shall be collected, enforced and received by the
Guarantor as trustee for the Noteholders and be paid over to the Noteholders on
account of the Guaranteed Obligations without affecting in any manner the
liability of the Guarantor under the other provisions of this Guaranty.

3. REPRESENTATIONS AND WARRANTIES.

      The Guarantor hereby represents and warrants to the Noteholders that:

      3.1. AFFIRMATION OF REPRESENTATIONS AND WARRANTIES IN NOTE PURCHASE
AGREEMENT.

      The Guarantor hereby represents and warrants that each of the
representations and warranties made by the Company as to the Company's
Subsidiaries in the Note Purchase Agreement is true and correct as to the
Guarantor.

      3.2. ECONOMIC BENEFIT.

      The Guarantor and the Company operate as separate businesses but are
considered a single consolidated business group of companies for purposes of
GAAP and are dependent upon each other for and in connection with their
respective business activities and financial resources. The execution and
delivery by the Noteholders of the Note Purchase Agreement and the maintenance
of certain financial accommodations thereunder constitute an economic benefit to
the Guarantor and the incurrence by the Company of the Indebtedness under the
Note Purchase Agreement and the Notes is in the best interests of the Guarantor.
The board of directors or other management board of the Guarantor has deemed it
advisable and in the best interest of the Guarantor that the transactions
provided for in the Note Purchase Agreement and this Guaranty be consummated.

      3.3. INDEPENDENT CREDIT EVALUATION.

      The Guarantor has independently, and without reliance on any information
supplied by any one or more of the Noteholders, taken, and will continue to
take, whatever steps the

                                       8
<PAGE>

Guarantor deems necessary to evaluate the financial condition and affairs of the
Company, and the Noteholders shall have no duty to advise the Guarantor of
information at any time known to the Noteholders regarding such financial
condition or affairs.

      3.4. NO REPRESENTATION BY NOTEHOLDERS.

      None of the Noteholders nor any trustee or agent acting on its behalf has
made any representation, warranty or statement to the Guarantor to induce the
Guarantor to execute this Guaranty.

      3.5. SURVIVAL.

      All representations and warranties made by the Guarantor herein shall
survive the execution hereof and may be relied upon by the Noteholders as being
true and accurate until the Guaranteed Obligations are fully and irrevocably
paid.

4. COVENANTS.

      The Guarantor hereby covenants and agrees that, so long as any part of the
Guaranteed Obligations shall remain unpaid, the Guarantor will perform and
observe, and cause each of its Subsidiaries to perform and observe, all of the
terms, covenants and agreements set forth in the Note Purchase Agreement on its
or their part to be performed or observed or that the Company has agreed to
cause the Guarantor or such Subsidiaries to perform or observe.

5. GUARANTOR'S AGREEMANT TO PAY ENFORCEMENT COSTS, ETC.

      The Guarantor further agrees, as the primary guarantor and not merely as a
surety, to pay to the Noteholders, on demand, all costs and expenses (including
court costs and reasonable legal expenses) incurred or expended by the
Noteholders in connection with the Guaranteed Obligations, this Guaranty and the
enforcement thereof, together with interest on amounts recoverable under this
Section 5 from the time when such amounts become due until payment, whether
before or after judgment, at the rate of interest for overdue principal set
forth in the Note Purchase Agreement, provided that if such interest exceeds the
maximum amount permitted to be paid under applicable law, then such interest
shall be reduced to such maximum permitted amount.

6. SUCCESSORS AND ASSIGNS.

      This Guaranty shall bind the successors, assignees, trustees, and
administrators of the Guarantor and shall inure to the benefit of the
Noteholders, and each of their respective successors, transferees, participants
and assignees.

7. AMENDMENTS AND WAIVERS.

      No amendment to, waiver of, or departure from full compliance with any
provision of this Guaranty, or consent to any departure by the Guarantor
herefrom, shall be effective against any Noteholder directly affected thereby
unless it is in writing and signed by authorized officers of the Guarantor and
such Noteholder; provided, however, that any such waiver or consent shall

                                       9
<PAGE>

be effective only in the specific instance and for the purpose for which given.
No failure by the Noteholders to exercise, and no delay by the Noteholders in
exercising, any right, remedy, power or privilege hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise by the Noteholders of
any right, remedy, power or privilege hereunder preclude any other exercise
thereof, or the exercise of any other right, remedy, power or privilege.

8. RIGHTS CUMULATIVE.

      Each of the rights and remedies of the Noteholders under this Guaranty
shall be in addition to all of their other rights and remedies under the Note
Purchase Agreement and applicable law, and nothing in this Guaranty shall be
construed as limiting any such rights or remedies.

9. GOVERNING LAW.

      THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF
THE STATE OF NEW YORK EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH
STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER
THAN SUCH STATE.

10. WAIVER OF JURY TRIAL.

      THE GUARANTOR, AND BY ITS ACCEPTANCE HEREOF, EACH OF THE NOTEHOLDERS,
IRREVOCABLY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN
ANY LITIGATION IN ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT
OF THIS GUARANTY, THE NOTE PURCHASE AGREEMENT AND THE NOTES, OR THE VALIDITY,
PROTECTION, INTERPRETATION, COLLECTION OR ENFORCEMENT HEREOF OR THEREOF.

11. FURTHER ASSURANCES.

      The Guarantor agrees that it will from time to time, at the request of any
Noteholder, do all such things and execute all such documents as such Noteholder
may consider necessary or desirable to give full effect to this Guaranty and to
perfect and preserve the rights and powers of all Noteholders hereunder. The
Guarantor acknowledges and confirms that the Guarantor itself has established
its own adequate means of obtaining from the Company on a continuing basis all
information desired by the Guarantor concerning the financial condition of the
Company and that the Guarantor will look to the Company and not to the
Noteholders in order for the Guarantor to keep adequately informed of changes in
the Company's financial condition.

12. SEVERABILITY.

      Any provision of this Guaranty which is prohibited, unenforceable or not
authorized in any jurisdiction shall, as to such jurisdiction, be ineffective to
the extent of such prohibition,

                                       10
<PAGE>

unenforceability or nonauthorization without invalidating the remaining
provisions hereof or affecting the validity, enforceability or legality of such
provision in any other jurisdiction.

13. SECTION HEADINGS.

      Section headings are for convenience only and shall not affect the
interpretation of this Guaranty.

14. LIMITATION OF LIABILITY.

      NO NOTEHOLDER SHALL HAVE ANY LIABILITY WITH RESPECT TO, AND THE GUARANTOR
HEREBY WAIVES, RELEASES AND AGREES NOT TO SUE FOR, (a) ANY LOSS OR DAMAGE
SUSTAINED BY THE GUARANTOR THAT MAY OCCUR AS A RESULT OF, IN CONNECTION WITH, OR
THAT IS IN ANY WAY RELATED TO, ANY ACT OR FAILURE TO ACT REFERRED TO IN SECTION
2.3 OR SECTION 2.4 OR (b) ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES
SUFFERED BY THE GUARANTOR IN CONNECTION WITH ANY CLAIM RELATED TO THIS GUARANTY.

15. ENTIRE AGREEMENT.

      This Guaranty, together with the Note Purchase Agreement and the Notes,
embodies the entire agreement between the Guarantor and the Noteholders relating
to the subject matter hereof and supersedes all prior agreements,
representations and understandings, if any, relating to the subject matter
hereof.

16. COMMUNICATIONS.

      All notices and other communications to the Noteholders or the Guarantor
hereunder shall be in writing, shall be delivered in the manner and with the
effect, as provided by the Note Purchase Agreement, and shall be addressed (a)
to the Guarantor as set forth in Annex A hereto and (b) to the Noteholders as
set forth in the Note Purchase Agreement.

17. DUPLICATE ORIGINALS.

      Two or more duplicate counterpart originals hereof may be signed by the
parties, each of which shall be an original but all of which together shall
constitute one and the same instrument. Delivery of any executed signature page
to this Guaranty by the Guarantor by facsimile transmission shall be as
effective as delivery of a manually executed copy of this Guaranty by the
Guarantor.

18. COMPROMISES AND ARRANGEMENTS.

      Notwithstanding anything contained in the certificate of incorporation or
other charter documents of the Guarantor, the Guarantor acknowledges and agrees
that no Noteholder is waiving any of its rights and remedies under this
Guaranty, including, without limitation, the right to file a bankruptcy petition
or petitions under the United States Bankruptcy Code (11 U.S.C. Section 101 et
seq.) or the right to take advantage of any other bankruptcy or insolvency law
of

                                       11
<PAGE>

any jurisdiction, and the right to settle its claims in such fashion as it shall
determine, regardless of the settlement or other arrangements that may be made
by any stockholder or other creditor.

   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK. NEXT PAGE IS SIGNATURE PAGE.]

                                       12
<PAGE>

      IN WITNESS WHEREOF, the Guarantor has caused this Guaranty to be duly
executed and delivered by its officer thereunto duly authorized as of the date
first above written.

                                             MIX ACQUISITION CORPORATION

                                             By: ____________________
                                             Name: Mark R. Belgya
                                             Title: Treasurer

                     [Signature Page to Guaranty Agreement]

<PAGE>

                                     ANNEX A

                           NOTICE ADDRESS OF GUARANTOR

MIX Acquisition Corporation
Strawberry Lane
Orville, Ohio 44667
Attention: General Counsel
Facsimile: 330-684-3026

                                 Exhibit 4.11-1

<PAGE>

                                                                    EXHIBIT 5.13

                             FORM OF OFFEREE LETTER

                           [WILLIAM BLAIR LETTERHEAD]

                                  May 25, 2004

Bingham McCutchen LLP
One State Street
Hartford, CT 06103

The J. M. Smucker Company
Strawberry Lane
Orrville, Ohio 44667

Ladies and Gentlemen:

      Reference is made to the Note Purchase Agreement, dated as of May 27, 2004
(the "Note Purchase Agreement"), between The J. M. Smucker Company (the
"Company") and each of the purchasers listed on Schedule A attached thereto (the
"Purchasers"), which provides, among other things, for the issuance and sale by
the Company of its $100,000,000 4.78% Senior Notes due June 1, 2014 (the
"Notes"). The capitalized terms used herein and not defined herein have the
meanings specified in the Note Purchase Agreement.

      1. We (who were authorized and employed by the Company in connection with
the offering and sale of the Notes) have not, directory or indirectly, sold or
disposed of, or attempted or offered to sell or dispose of, the Notes or similar
Securities to, or solicited offers to buy any Notes or similar Securities from,
or otherwise approached or negotiated with respect to the Notes or similar
Securities with, any Person that might be considered to be an offeree in
connection with the sale of the Notes or similar Securities, other than seven
(7) institutional investors (four (4) of which are the Purchasers), each of whom
was offered a portion of the Notes at private sale for investment.

      2. Immediately prior to making any offer in connection with the Notes to
any of the aforementioned offerees, immediately prior to making any sale of the
Notes to any of the aforementioned offerees, and after making reasonable
inquiry, we had reasonable grounds to believe, and did believe, that each such
offeree had such knowledge and experience in financial and business matters that
it was capable of evaluating the merits and risks of its prospective investment.

      3. We have not offered to sell, offered for sale or sold any Notes or
similar Securities by means of any form of general solicitation or general
advertising.

      4. During the two-year period ending on the date hereof, we may have,
directory or indirectly, sold or disposed of, or attempted or offered to sell or
dispose of, any debt Securities of the Company other than the Notes.

                                              WILLIAM BLAIR & COMPANY

                                              By: _________________________
                                                  Name:
                                                  Title:

                                 Exhibit 5.13-1<PAGE>

                                                                    EXHIBIT 10.2

================================================================================

                                CREDIT AGREEMENT

                                      AMONG

                           THE J. M. SMUCKER COMPANY,
                                 AS US BORROWER,

                                       AND

                           J.M. SMUCKER (CANADA) INC.,
                              AS CANADIAN BORROWER,

                            THE LENDERS NAMED HEREIN,
                                   AS LENDERS,

                                       AND

                          KEYBANK NATIONAL ASSOCIATION,
                   AS LEAD ARRANGER AND ADMINISTRATIVE AGENT,

                                       AND

                                BANK OF MONTREAL,
                          AS CANADIAN FUNDING AGENT AND
                               DOCUMENTATION AGENT

                              ---------------------

                                   DATED AS OF

                                  JUNE 18, 2004

                              ---------------------

================================================================================

<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                   PAGE
                                                                                                                   ----
<S>                                                                                                                <C>
ARTICLE I.  DEFINITIONS........................................................................................      1
   Section 1.1.  Definitions...................................................................................      1
   Section 1.2.  Accounting Terms..............................................................................     28
   Section 1.3.  Terms Generally...............................................................................     28

ARTICLE II.  AMOUNT AND TERMS OF CREDIT........................................................................     28
   Section 2.1.  Amount and Nature of Credit...................................................................     29
   Section 2.2.  US Revolving Credit...........................................................................     30
   Section 2.3.  Canadian Revolving Loans......................................................................     34
   Section 2.4.  Interest......................................................................................     36
   Section 2.5.  Evidence of Indebtedness......................................................................     39
   Section 2.6.  Notice of Credit Event; Funding of Loans......................................................     40
   Section 2.7.  Payment on Loans and Other Obligations........................................................     42
   Section 2.8.  Prepayment....................................................................................     44
   Section 2.9.  Facility and Other Fees; Reduction of Commitment..............................................     45
   Section 2.10.  Computation of Interest and Fees.............................................................     47
   Section 2.11.  Mandatory Payment............................................................................     47
   Section 2.12.  Appointment of US Borrower as Canadian Borrower's Agent......................................     48
   Section 2.13.  Waivers of Borrowers.........................................................................     48
   Section 2.14.  Extension of Commitment......................................................................     49

ARTICLE III.  ADDITIONAL PROVISIONS RELATING TO FIXED RATE LOANS; INCREASED CAPITAL; TAXES.....................     49
   Section 3.1.  Requirements of Law...........................................................................     49
   Section 3.2.  Taxes.........................................................................................     50
   Section 3.3.  Funding Losses................................................................................     52
   Section 3.4.  Eurodollar Rate, Alternate Currency Rate or Canadian Fixed Rate Lending Unlawful; Inability to
            Determine Rate.....................................................................................     52
   Section 3.5.  Replacement of Lenders........................................................................     53

ARTICLE IV.  CONDITIONS PRECEDENT..............................................................................     53
   Section 4.1.  Conditions to Each Credit Event...............................................................     54
   Section 4.2.  Conditions to the First Credit Event..........................................................     54

ARTICLE V.  COVENANTS..........................................................................................     56
   Section 5.1.  Insurance.....................................................................................     56
   Section 5.2.  Money Obligations.............................................................................     56
   Section 5.3.  Financial Statements and Information..........................................................     56
   Section 5.4.  Financial Records.............................................................................     57
   Section 5.5.  Franchises; Change in Business................................................................     58
   Section 5.6.  ERISA Compliance..............................................................................     58
   Section 5.7.  Financial Covenants...........................................................................     59
   Section 5.8.  Borrowing.....................................................................................     59
   Section 5.9.  Liens.........................................................................................     60
</TABLE>

                                       i
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                   PAGE
                                                                                                                   ----
<S>                                                                                                                <C>
   Section 5.10.  Regulations T, U and X.......................................................................     62
   Section 5.11.  Compliance with Laws.........................................................................     62
   Section 5.12.  Merger and Sale of Assets....................................................................     62
   Section 5.13.  Acquisitions.................................................................................     63
   Section 5.14.  Notice.......................................................................................     64
   Section 5.15.  Environmental Compliance.....................................................................     64
   Section 5.16.  Affiliate Transactions.......................................................................     65
   Section 5.17.  Use of Proceeds..............................................................................     65
   Section 5.18.  Sale and Leaseback Transactions..............................................................     65
   Section 5.19.  Guaranty Under Material Indebtedness Agreement...............................................     65
   Section 5.20.  Restrictive Agreements.......................................................................     65
   Section 5.21.  Other Covenants..............................................................................     66
   Section 5.22.  Pari Passu Ranking...........................................................................     66
   Section 5.23.  Note Purchase Agreements.....................................................................     66

ARTICLE VI.  REPRESENTATIONS AND WARRANTIES....................................................................     67
   Section 6.1.  Corporate Existence; Subsidiaries; Foreign Qualification......................................     67
   Section 6.2.  Corporate Authority...........................................................................     67
   Section 6.3.  Compliance with Laws..........................................................................     67
   Section 6.4.  Litigation and Administrative Proceedings.....................................................     68
   Section 6.5.  Title to Assets...............................................................................     68
   Section 6.6.  Liens and Security Interests..................................................................     68
   Section 6.7.  Tax Returns...................................................................................     68
   Section 6.8.  Environmental Laws............................................................................     68
   Section 6.9.  Continued Business............................................................................     69
   Section 6.10.  Employee Benefits Plans......................................................................     69
   Section 6.11.  Consents or Approvals........................................................................     70
   Section 6.12.  Solvency.....................................................................................     70
   Section 6.13.  Financial Statements.........................................................................     71
   Section 6.14.  Regulations..................................................................................     71
   Section 6.15.  Material Agreements..........................................................................     71
   Section 6.16.  Intellectual Property........................................................................     71
   Section 6.17.  Insurance....................................................................................     71
   Section 6.18.  Accurate and Complete Statements.............................................................     72
   Section 6.19.  Note Purchase Agreements.....................................................................     72
   Section 6.20.  Investment Company; Holding Company..........................................................     72
   Section 6.21.  Existing Indebtedness........................................................................     72
   Section 6.22.  Defaults.....................................................................................     72

ARTICLE VII.  EVENTS OF DEFAULT................................................................................     72
   Section 7.1.  Payments......................................................................................     72
   Section 7.2.  Special Covenants.............................................................................     73
   Section 7.3.  Other Covenants...............................................................................     73
   Section 7.4.  Representations and Warranties................................................................     73
</TABLE>

                                       ii
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                   PAGE
                                                                                                                   ----
<S>                                                                                                                <C>
   Section 7.5.  Cross Default.................................................................................     73
   Section 7.6.  ERISA Default.................................................................................     74
   Section 7.7.  Change in Control.............................................................................     74
   Section 7.8.  Money Judgment................................................................................     74
   Section 7.9.  Validity of Loan Documents....................................................................     74
   Section 7.10.  Solvency.....................................................................................     74

ARTICLE VIII.  REMEDIES UPON DEFAULT...........................................................................     75
   Section 8.1.  Optional Defaults.............................................................................     75
   Section 8.2.  Automatic Defaults............................................................................     75
   Section 8.3.  Letters of Credit.............................................................................     75
   Section 8.4.  Offsets.......................................................................................     76
   Section 8.5.  Equalization Provision........................................................................     76
   Section 8.6.  Other Remedies................................................................................     77

ARTICLE IX.  THE AGENT AND THE CANADIAN FUNDING AGENT..........................................................     77
   Section 9.1.  Appointment and Authorization.................................................................     77
   Section 9.2.  Note Holders..................................................................................     77
   Section 9.3.  Consultation With Counsel.....................................................................     77
   Section 9.4.  Documents.....................................................................................     78
   Section 9.5.  Agent and Affiliates..........................................................................     78
   Section 9.6.  Knowledge of Default..........................................................................     78
   Section 9.7.  Action by Agent...............................................................................     78
   Section 9.8.  Notice of Default.............................................................................     78
   Section 9.9.  Indemnification of Agent and Canadian Funding Agent...........................................     78
   Section 9.10.  Successor Agent..............................................................................     79
   Section 9.11.  Canadian Funding Agent.......................................................................     79
   Section 9.12.  Other Agents.................................................................................     79

ARTICLE X.  MISCELLANEOUS......................................................................................     79
   Section 10.1.  Lenders' Independent Investigation...........................................................     79
   Section 10.2.  No Waiver; Cumulative Remedies...............................................................     80
   Section 10.3.  Amendments, Consents.........................................................................     80
   Section 10.4.  Notices......................................................................................     80
   Section 10.5.  Costs, Expenses and Taxes....................................................................     81
   Section 10.6.  Indemnification..............................................................................     81
   Section 10.7.  Obligations Several; No Fiduciary Obligations................................................     82
   Section 10.8.  Execution in Counterparts....................................................................     82
   Section 10.9.  Binding Effect; Borrowers' Assignment........................................................     82
   Section 10.10.  Lender Assignments..........................................................................     82
   Section 10.11.  Sale of Participations......................................................................     84
   Section 10.12.  Severability of Provisions; Captions; Attachments...........................................     85
   Section 10.13.  Investment Purpose..........................................................................     85
   Section 10.14.  Entire Agreement............................................................................     85
</TABLE>

                                      iii
<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                PAGE
                                                                                                                ----
<S>                                                                                                             <C>
Section 10.15.  Confidentiality.............................................................................     86
Section 10.16.  Legal Representation of Parties.............................................................     86
Section 10.17.  Currency....................................................................................     86
Section 10.18.  Governing Law; Submission to Jurisdiction...................................................     87
Section 10.19.  Jury Trial Waiver.............................................................Signature Page      1
</TABLE>

<TABLE>
<S>                   <C>
Exhibit A             Form of US Revolving Credit Note
Exhibit B             Form of US Swing Line Note
Exhibit C             Form of Canadian Revolving Credit Note
Exhibit D             Form of Canadian Swing Line Note
Exhibit E             Form of Notice of Loan
Exhibit F             Form of Compliance Certificate
Exhibit G             Form of Assignment and Acceptance Agreement
Exhibit H             Form of Request for Extension

Schedule 1            Commitment of Lenders
Schedule 5.8          Long Term Funded Debt
Schedule 6.1          Subsidiaries
Schedule 6.3          Compliance Disclosures
Schedule 6.4          Litigation and Administrative Proceedings
Schedule 6.8          Environmental Disclosures
Schedule 6.10         Employee Benefit Plans
Schedule 6.13         Financial Statements
Schedule 6.15         Material Agreements
Schedule 6.21         Existing Indebtedness
</TABLE>

                                       iv
<PAGE>

      This CREDIT AGREEMENT (as the same may from time to time be amended,
restated or otherwise modified, this "Agreement") is made effective as of the
18th day of June, 2004, among:

            (a) THE J. M. SMUCKER COMPANY, an Ohio corporation ("US Borrower");

            (b) J.M. SMUCKER (CANADA) INC., a corporation organized under the
      laws of Ontario, Canada ("Canadian Borrower" and, together with US
      Borrower, collectively, "Borrowers" and, individually, each a "Borrower");

            (c) the lenders listed on Schedule 1 hereto and each other Eligible
      Transferee, as hereinafter defined, that becomes a party hereto pursuant
      to Section 10.10 hereof (collectively, the "Lenders" and, individually,
      each a "Lender");

            (d) KEYBANK NATIONAL ASSOCIATION, as the lead arranger and
      administrative agent for the Lenders under this Agreement ("Agent"); and

            (e) BANK OF MONTREAL, as the Canadian funding agent and
      documentation agent under this Agreement (the "Canadian Funding Agent").

                                   WITNESSETH:

      WHEREAS, Borrowers, Agent and the Lenders desire to contract for the
establishment of credits in the aggregate principal amounts hereinafter set
forth, to be made available to Borrowers upon the terms and subject to the
conditions hereinafter set forth;

      NOW, THEREFORE, it is mutually agreed as follows:

                             ARTICLE I. DEFINITIONS

      Section 1.1. Definitions. As used in this Agreement, the following terms
shall have the following meanings:

      "Acquisition" shall mean any transaction or series of related transactions
for the purpose of or resulting, directly or indirectly, in (a) the acquisition
of all or substantially all of the assets of any Person (other than a Company),
or any business or division of any Person (other than a Company), (b) the
acquisition of in excess of fifty percent (50%) of the stock (or other equity
interest) of any Person (other than a Company), or (c) the acquisition of
another Person (other than a Company) by a merger, amalgamation or consolidation
or any other combination with such Person.

<PAGE>

      "Advantage" shall mean any payment (whether made voluntarily or
involuntarily, by offset of any deposit or other indebtedness or otherwise)
received by any Lender in respect of the Applicable Debt, if such payment
results in that Lender having less than its pro rata share (based upon its
Applicable Commitment Percentage) of the Applicable Debt then outstanding, than
was the case immediately before such payment.

      "Affiliate" shall mean any Person, directly or indirectly, controlling,
controlled by or under common control with a Company and "control" (including
the correlative meanings, the terms "controlling", "controlled by" and "under
common control with") shall mean the power, directly or indirectly, to direct or
cause the direction of the management and policies of a Company, whether through
the ownership of voting securities, by contract or otherwise.

      "Agent Fee Letter" shall mean the Agent Fee Letter between US Borrower and
Agent, dated as of the Closing Date, as the same may from time to time be
amended, restated or otherwise modified.

      "Alternate Currency" shall mean Euros, Pounds Sterling, Australian Dollars
or any other currency, other than Dollars, agreed to by Agent and the US Lenders
that shall be freely transferable and convertible into Dollars.

      "Alternate Currency Exposure" shall mean, at any time and without
duplication, the sum of the Dollar Equivalent of (a) the aggregate principal
amount of Alternate Currency Loans outstanding, and (b) the Letter of Credit
Exposure that is denominated in one or more Alternate Currencies.

      "Alternate Currency Loan" shall mean a Loan described in Section 2.2(a)
hereof that shall be denominated in an Alternate Currency and on which US
Borrower shall pay interest at a rate based upon the Derived LIBOR Fixed Rate
applicable to such Alternate Currency.

      "Alternate Currency Maximum Amount" shall mean, at any time, the Dollar
Equivalent of Fifty Million Dollars ($50,000,000).

      "Alternate Currency Rate" shall mean, with respect to an Alternate
Currency Loan, for any Interest Period, a rate per annum equal to the quotient
obtained (rounded upwards, if necessary, to the nearest 1/16th of 1%) by
dividing (a) the rate of interest, determined by Agent in accordance with its
usual procedures (which determination shall be conclusive absent manifest error)
as of approximately 11:00 A.M. (London time) two Business Days prior to the
beginning of such Interest Period pertaining to such Alternate Currency Loan, as
listed on British Bankers Association Interest Rate LIBOR 01 or 02 as provided
by Reuters (or, if for any reason such rate is unavailable from Reuters, from
any other similar company or service that provides rate quotations comparable to
those currently provided by Reuters) as the rate in the London interbank market
for deposits in the relevant Alternate Currency in immediately available funds
with a maturity comparable to such Interest Period, provided that, in the event
that such rate quotation is not available for any reason, then the Alternate
Currency Rate shall be the average (rounded upward to the nearest 1/16th of 1%)
of the per annum rates at which deposits in immediately available funds in the
relevant Alternate Currency for the relevant Interest Period

                                       2
<PAGE>

and in the amount of the Alternate Currency Loan to be disbursed or to remain
outstanding during such Interest Period, as the case may be, are offered to
Agent (or an affiliate of Agent, in Agent's discretion) by prime banks in any
Alternate Currency market reasonably selected by Agent, determined as of 11:00
A.M. (London time) (or as soon thereafter as practicable), two Business Days
prior to the beginning of the relevant Interest Period pertaining to such
Alternate Currency Loan hereunder; by (b) 1.00 minus the Reserve Percentage.

      "Applicable Commitment Percentage" shall mean, for each Lender:

            (a) with respect to the US Revolving Credit Commitment, the
      percentage, if any, set forth opposite such Lender's name under the column
      headed "US Revolving Credit Commitment Percentage", as listed in Schedule
      1 hereto; and

            (b) with respect to the Canadian Revolving Credit Commitment, the
      percentage, if any, set forth opposite such Lender's name under the column
      headed "Canadian Revolving Credit Commitment Percentage", as listed in
      Schedule 1 hereto.

      "Applicable Debt" shall mean:

            (a) with respect to the US Commitment, collectively, (i) all
      Indebtedness incurred by US Borrower to the US Lenders pursuant to this
      Agreement and the other Loan Documents and includes, without limitation,
      the principal of and interest on the Notes payable by US Borrower to the
      US Lenders, and all obligations with respect to the US Swing Line
      Commitment and the Letter of Credit Commitment, (ii) each extension,
      renewal or refinancing of the foregoing, in whole or in part, and (iii)
      the facility, utilization and other fees and amounts payable hereunder in
      connection with the US Commitment; and

            (b) with respect to the Canadian Commitment, collectively, (i) all
      Indebtedness incurred by Canadian Borrower to the Canadian Lenders
      pursuant to this Agreement and the other Loan Documents and includes,
      without limitation, the principal of and interest on the Notes payable by
      Canadian Borrower to the Canadian Lenders, and all obligations with
      respect to the Canadian Swing Line Commitment, (ii) each extension,
      renewal or refinancing of the foregoing, in whole or in part, and (iii)
      the facility, utilization and other fees and amounts payable hereunder in
      connection with the Canadian Commitment.

      "Applicable Facility Fee Rate" shall mean:

            (a) for the period from the Closing Date through September 30, 2004,
      ten (10.00) basis points; and

            (b) for the period commencing October 1, 2004 and thereafter, the
      number of basis points set forth in the following matrix, based upon the
      result of the computation of the Leverage Ratio:

                                       3
<PAGE>

<TABLE>
<CAPTION>
                     LEVERAGE RATIO                                  APPLICABLE FACILITY FEE RATE
-------------------------------------------------------              ----------------------------
<S>                                                                  <C>
Greater than 2.50 to 1.00                                                 17.50 basis points

Greater than 2.00 to 1.00 but less than or equal to 2.50                  15.00 basis points
to 1.00

Greater than 1.50 to 1.00 but less than or equal to 2.00                  12.50 basis points
to 1.00

Greater than 1.00 to 1.00 but less than or equal to 1.50                  10.00 basis points
to 1.00

Less than or equal to 1.00 to 1.00                                         7.50 basis points
</TABLE>

The Applicable Facility Fee Rate shall change on October 1, 2004 based on the
July 31, 2004 Consolidated financial statements of US Borrower for the most
recently completed four fiscal quarters, and thereafter changes to the
Applicable Facility Fee Rate shall be effective on the first day of each month
following the date upon which Agent received, or, if earlier, Agent should have
received, pursuant to Section 5.3(a) or (b) hereof, the financial statements of
the Companies. The above matrix does not modify or waive, in any respect, the
rights of Agent and the Lenders to charge the Default Rate, or the rights and
remedies of Agent and the Lenders pursuant to Articles VII and VIII hereof.
Notwithstanding anything herein to the contrary, during any period when US
Borrower shall have failed to timely deliver the financial statements pursuant
to Section 5.3(a) or (b) hereof, or the Compliance Certificate pursuant to
Section 5.3(c) hereof, until such time as the appropriate financial statements
and Compliance Certificate are delivered, at the option of the Required Lenders,
the Applicable Facility Fee Rate shall be the highest rate per annum indicated
in the above pricing grid regardless of the Leverage Ratio at such time.

      "Applicable Lender" shall mean, (a) a US Lender with respect to the US
Commitment, and (b) a Canadian Lender with respect to the Canadian Commitment.

      "Applicable Margin" shall mean:

            (a) for the period from the Closing Date through September 30, 2004,
      thirty (30.00) basis points; and

            (b) for the period commencing October 1, 2004 and thereafter, the
      number of basis points set forth in the following matrix, based upon the
      result of the computation of the Leverage Ratio:

<TABLE>
<CAPTION>
                     LEVERAGE RATIO                                  APPLICABLE MARGIN
--------------------------------------------------------             ------------------
<S>                                                                  <C>
Greater than 2.50 to 1.00                                                  70.00

Greater than 2.00 to 1.00 but less than or equal to 2.50                   60.00
to 1.00

Greater than 1.50 to 1.00 but less than or equal to 2.00                   40.00
to 1.00
</TABLE>

                                       4
<PAGE>

<TABLE>
<S>                                                                        <C>
Greater than 1.00 to 1.00 but less than or equal to 1.50                   30.00
to 1.00

Less than or equal to 1.00 to 1.00                                         27.50
</TABLE>

The Applicable Margin shall change on October 1, 2004, based on the July 31,
2004 Consolidated financial statements of US Borrower for the most recently
completed four fiscal quarters, and thereafter changes to the Applicable Margin
shall be effective on the first day of each month following the date upon which
Agent received, or, if earlier, Agent should have received, pursuant to Section
5.3(a) or (b) hereof, the financial statements of the Companies. The above
matrix does not modify or waive, in any respect, the rights of Agent and the
Lenders to charge the Default Rate, or the rights and remedies of Agent and the
Lenders pursuant to Articles VII and VIII hereof. Notwithstanding anything
herein to the contrary, during any period when US Borrower shall have failed to
timely deliver the financial statements pursuant to Section 5.3(a) or (b)
hereof, or the Compliance Certificate pursuant to Section 5.3(c) hereof, until
such time as the appropriate financial statements and Compliance Certificate are
delivered, at the option of the Required Lenders, the Applicable Margin shall be
the highest rate per annum indicated in the above pricing grid regardless of the
Leverage Ratio at such time.

      "Applicable Utilization Fee Rate" shall mean:

            (a) for the period from the Closing Date through September 30, 2004,
      five (5.00) basis points; and

            (b) for the period commencing October 1, 2004 and thereafter, the
      number of basis points set forth in the following matrix, based upon the
      result of the computation of the Leverage Ratio:

<TABLE>
<CAPTION>
                      LEVERAGE RATIO                               APPLICABLE UTILIZATION FEE RATE
--------------------------------------------------------           -------------------------------
<S>                                                                <C>
Greater than 2.50 to 1.00                                                12.50 basis points

Greater than 2.00 to 1.00 but less than or equal to 2.50                 10.00 basis points
to 1.00

Less than or equal to 2.00 to 1.00                                        5.00 basis points
</TABLE>

The Applicable Utilization Fee Rate shall change on October 1, 2004 based on the
July 31, 2004 Consolidated financial statements of US Borrower for the most
recently completed four fiscal quarters, and thereafter changes to the
Applicable Utilization Fee Rate shall be effective on the first day of each
month following the date upon which Agent received, or, if earlier, Agent should
have received, pursuant to Section 5.3(a) or (b) hereof, the financial
statements of the Companies. The above matrix does not modify or waive, in any
respect, the rights of Agent and the Lenders to charge the Default Rate, or the
rights and remedies of Agent and the Lenders pursuant to Articles VII and VIII
hereof. Notwithstanding anything herein to the contrary, during any period when
US Borrower shall have failed to timely deliver the financial statements
pursuant to Section 5.3(a) or (b) hereof, or the Compliance Certificate pursuant
to Section 5.3(c) hereof, until such time as the appropriate financial
statements and Compliance Certificate are delivered, at the option of the
Required Lenders, the Applicable Utilization Fee Rate shall be the

                                       5
<PAGE>

highest rate per annum indicated in the above pricing grid regardless of the
Leverage Ratio at such time.

      "Assignment Agreement" shall mean an Assignment and Acceptance Agreement
in the form of the attached Exhibit G.

      "Attributable Debt" shall mean, as to any particular lease relating to a
Sale/Leaseback Transaction, the present value of all Lease Rentals required to
be paid by any Company under such lease during the remaining term thereof
(determined in accordance with GAAP using a discount factor equal to the
interest rate implicit in such lease if known or, if not known, an interest rate
of ten percent (10%) per annum).

      "Authorized Officer" shall mean a Financial Officer or other individual
authorized by a Financial Officer in writing (with a copy to Agent) to handle
certain administrative matters in connection with this Agreement.

      "Business Day" shall mean (a) any day that is not a Saturday, Sunday or
other day on which national banking associations are authorized or required to
close, (b) if the applicable Business Day relates to a Eurodollar Loan, a day of
the year on which dealings in deposits are carried on in the London interbank
Eurodollar market, (c) if the applicable Business Day relates to an Alternate
Currency Loan, a day of the year on which dealings in deposits are carried on in
the relevant Alternate Currency, or (d) if the applicable Business Day relates
to a Canadian Revolving Loan or Canadian Swing Loan, a day of the year on which
Canadian banks are open for dealings in the Province of Ontario, Canada.

      "CAD" or "Canadian Dollar" shall mean lawful money of Canada.

      "CAD CDOR Loan" shall mean a Canadian Revolving Loan that shall be
denominated in Canadian Dollars and on which Canadian Borrower shall pay
interest at a rate based on the Derived CAD Fixed Rate.

      "CAD Equivalent" shall mean the amount denominated in CAD, as of any date
of determination, that could be purchased by Agent in accordance with its normal
practice with the applicable amount of Dollars at the spot exchange rate quoted
by Agent at approximately 11:00 A.M. (Eastern time) on such date.

      "CAD Fixed Rate" shall mean, with respect to a CAD CDOR Loan, for any
Interest Period, the rate per annum determined by Canadian Funding Agent by
reference to the average rate quoted on the Reuters Monitor Screen (Page CDOR,
or such other page as may replace such page on such screen for the purpose of
displaying Canadian interbank bid rates for Canadian Dollar bankers'
acceptances) applicable to Canadian Dollar bankers' acceptances (on a three
hundred sixty-five (365) day basis) with a term comparable to such Interest
Period as of 10:00 A.M. (Eastern time) on the first day of such Interest Period
and, if such day is not a Business Day, then on the immediately preceding
Business Day (as adjusted by the Canadian Funding Agent after 10:00A.M. (Eastern
time) to reflect any error in a posted rate of interest or in the posted average
annual rate of interest). If, for any reason, the Reuters Monitor Screen rates
are

                                       6
<PAGE>

unavailable, CAD Fixed Rate means the rate of interest determined by Canadian
Funding Agent that is equal to the rate (rounded upwards to the nearest basis
point) quoted by the Canadian Reference Bank in respect of Canadian Dollar
bankers' acceptances (on a three hundred sixty-five (365) day basis) with a term
comparable to such Interest Period. No adjustment shall be made to account for
the difference between the number of days in a year on which the rates referred
to in this definition are based and the number of days in a year on the basis of
which interest is calculated in this Agreement.

      "Canadian Base Rate Loan" shall mean a Canadian CAD Base Rate Loan or a
Canadian USD Base Rate Loan.

      "Canadian Benefit Plan" shall mean each material written plan, fund,
program, or policy, whether formal or informal, funded or unfunded, insured or
uninsured, providing employee benefits, including medical, hospital care,
dental, sickness, accident, disability, life insurance, pension, retirement or
savings benefits, under which Canadian Borrower and its Subsidiaries have any
liability with respect to any employee or former employee, but excluding any
Canadian Pension Plan.

      "Canadian CAD Base Rate" shall mean the per annum interest rate
established from time to time by the Canadian Reference Bank as the Canadian
Reference Bank's "prime rate" or similar index, whether or not such rate is
publicly announced, applicable to commercial loans made by the Canadian
Reference Bank in CAD. Each change in the Canadian CAD Base Rate shall be
effective immediately from and after such change.

      "Canadian CAD Base Rate Loan" shall mean a Canadian Revolving Loan that
shall be denominated in Canadian Dollars and on which Canadian Borrower shall
pay interest at a rate based on the Canadian CAD Base Rate.

      "Canadian CAD Swing Loan" shall mean a Canadian Swing Loan that shall be
denominated in Canadian Dollars and on which Canadian Borrower shall pay
interest at a rate based on the Canadian CAD Base Rate.

      "Canadian Commitment" shall mean the obligation hereunder of the Canadian
Lenders, during the Commitment Period, to make Loans pursuant to the Canadian
Revolving Credit Commitments, up to the Maximum Canadian Revolving Amount.

      "Canadian Eurodollar Loan" shall mean a Loan described in Section 2.3(a)
hereof that shall be denominated in Dollars and on which Canadian Borrower shall
pay interest at a rate based upon the Derived LIBOR Fixed Rate applicable to
Eurodollars.

      "Canadian Fixed Rate Loan" shall mean a CAD CDOR Loan or a Canadian
Eurodollar Loan.

      "Canadian Lender" shall mean each Lender that is designated as a Canadian
Lender on Schedule 1 hereto.

                                       7
<PAGE>

      "Canadian Pension Plan" shall mean a pension plan required to be
registered under Canadian federal or provincial law that is maintained or
contributed to by Canadian Borrower and its Subsidiaries for their employees or
former employees, but does not include the Canada Pension Plan or the Quebec
Pension Plan as maintained by the Government of Canada or the Province of
Quebec, respectively.

      "Canadian Reference Bank" shall mean Canadian Funding Agent.

      "Canadian Revolving Credit Commitment" shall mean the obligation
hereunder, during the Commitment Period, of (a) each Canadian Lender to make
Canadian Revolving Loans up to the Maximum Amount for such Canadian Lender, and
(b) the Canadian Swing Line Lender to make and each Canadian Lender to
participate in Canadian Swing Loans pursuant to the Canadian Swing Line
Commitment.

      "Canadian Revolving Credit Note" shall mean a Canadian Revolving Credit
Note executed and delivered pursuant to Section 2.5(c) hereof.

      "Canadian Revolving Exposure" shall mean the sum of (a) the Dollar
Equivalent of the aggregate principal amount of all Canadian Revolving Loans
outstanding, and (b) the Canadian Swing Line Exposure.

      "Canadian Revolving Loan" shall mean a Canadian CAD Base Rate Loan, a
Canadian USD Base Rate Loan, a CAD CDOR Loan or a Canadian Eurodollar Loan
granted to Canadian Borrower in accordance with Section 2.3(a) hereof.

      "Canadian Swing Line" shall mean the credit facility established by the
Canadian Swing Line Lender for Canadian Borrower in accordance with Section
2.3(b) hereof.

      "Canadian Swing Line Commitment" shall mean the commitment of the Canadian
Swing Line Lender to make Canadian Swing Loans to Canadian Borrower up to the
aggregate amount at any time outstanding of Ten Million Dollars ($10,000,000).

      "Canadian Swing Line Exposure" shall mean, at any time, the sum of (a) the
Dollar Equivalent of the aggregate principal amount of all Canadian CAD Swing
Loans outstanding, and (b) the aggregate principal amount of all Canadian USD
Swing Loans outstanding.

      "Canadian Swing Line Lender" shall mean Bank of Montreal, as holder of the
Canadian Swing Line Commitment.

      "Canadian Swing Line Note" shall mean the Canadian Swing Line Note
executed and delivered pursuant to Section 2.5(d) hereof.

      "Canadian Swing Loan" shall mean a Canadian CAD Swing Loan or a Canadian
USD Swing Loan granted to Canadian Borrower in accordance with Section 2.3(b)
hereof.

                                       8
<PAGE>

      "Canadian USD Base Rate" shall mean the per annum interest rate
established from time to time by the Canadian Reference Bank as the reference
rate of interest applicable to commercial loans made in Canada by the Canadian
Reference Bank in Dollars. Each change in the Canadian USD Base Rate shall be
effective immediately from and after such change.

      "Canadian USD Base Rate Loan" shall mean a Canadian Revolving Loan that
shall be denominated in Dollars and on which Canadian Borrower shall pay
interest at a rate based on the Canadian USD Base Rate.

      "Canadian USD Swing Loan" shall mean a Canadian Swing Loan that shall be
denominated in Dollars and on which Canadian Borrower shall pay interest at a
rate based on the Canadian USD Base Rate.

      "Capital Distribution" shall mean a payment made, liability incurred or
other consideration given by a Company to any Person that is not a Company, for
the purchase, acquisition, redemption, repurchase or retirement of any capital
stock or other equity interest of such Company or as a dividend, return of
capital or other distribution (other than any stock dividend, stock split or
other equity distribution payable only in capital stock or other equity of such
Company) in respect of such Company's capital stock or other equity interest.

      "Capitalization Ratio" shall mean, as determined for the most recently
completed fiscal quarter of US Borrower, on a Consolidated basis and in
accordance with GAAP, the ratio of (a) the sum of (i) Debt of the Companies
secured by Liens permitted by Section 5.9(g) hereof, (ii) Debt of Subsidiaries
(other than Excluded Subsidiary Debt), and (iii) Consolidated Attributable Debt;
to (b) Consolidated Total Capitalization.

      "Capitalized Lease Obligations" shall mean obligations of the Companies
for the payment of rent for any real or personal property under leases or
agreements to lease that, in accordance with GAAP, have been or should be
capitalized on the books of the lessee and, for purposes hereof, the amount of
any such obligation shall be the capitalized amount thereof determined in
accordance with GAAP.

      "Change in Control" shall mean:

            (a) the failure of the Smucker Family to hold, in the aggregate, not
      less than the greater of (i) seven and one-half percent (7.5%) of the
      Special Voting Power of all Voting Shares of US Borrower, and (ii) not
      less than the amount of the Special Voting Power of all Voting Shares of
      US Borrower possessed by the Largest Other Shareholder;

            (b) the failure of the Smucker Family to hold, in the aggregate, not
      less than the greater of (i) five percent (5%) of the Ordinary Voting
      Power of all Voting Shares of US Borrower, and (ii) not less than the
      amount of Ordinary Voting Power of all Voting Shares of US Borrower
      possessed by the Largest Other Shareholder;

            (c) the sale or transfer of all or substantially all of the assets
      of US Borrower, in a single transaction or a series of related
      transactions, to any person (within the

                                       9
<PAGE>

      meaning of Rule 13d-3 of the SEC under the Securities Exchange Act of
      1934, as in effect on the Closing Date) or related persons constituting a
      group (within the meaning of Rule 13d-3 of the SEC under the Securities
      Exchange Act of 1934, as in effect on the Closing Date);

            (d) if either Timothy P. Smucker or Richard K. Smucker (or both)
      shall fail to serve on the board of directors of US Borrower at any time;
      provided, however, that if either Timothy P. Smucker or Richard K. Smucker
      (but not both) shall fail to serve on the board of directors of US
      Borrower at any time, then with respect to this subpart (c) only, it shall
      not be deemed to constitute a Change in Control if such individual is
      replaced as a director of US Borrower within one hundred twenty (120) days
      of such event by an individual reasonably satisfactory to the Required
      Lenders; or

            (e) the occurrence of a change in control, or other similar
      provision, as defined in any Material Indebtedness Agreement, the result
      of which is to cause such Indebtedness to become due prior to its stated
      maturity.

      "Clean-Down Amount of Consolidated Current Debt" shall mean, at any date,
the lowest average daily amount of Consolidated Current Debt outstanding during
any period of thirty (30) consecutive days occurring in the twelve consecutive
calendar months most recently ended (or on such date if such date shall be the
last day of a calendar month).

      "Closing Date" shall mean the effective date of this Agreement as set
forth in the first paragraph of this Agreement.

      "Closing Fee Letter" shall mean the Closing Fee Letter between US Borrower
and Agent, dated as of the Closing Date.

      "Code" shall mean the Internal Revenue Code of 1986, as amended, together
with the rules and regulations promulgated thereunder.

      "Commitment" shall mean the US Commitment and the Canadian Commitment.

      "Commitment Period" shall mean the period from the Closing Date to June
17, 2009 or such earlier date on which the Commitment shall have been terminated
pursuant to Article VIII hereof.

      "Companies" shall mean all Borrowers and Subsidiaries.

      "Company" shall mean a Borrower or Subsidiary.

      "Compliance Certificate" shall mean a certificate, substantially in the
form of the attached Exhibit F.

      "Confidential Information" shall mean all confidential or proprietary
information about the Companies that has been furnished by any Company to Agent
or any Lender, whether

                                       10
<PAGE>

furnished before, on or after the Closing Date and regardless of the manner in
which it is furnished, but does not include any such information that (a) is or
becomes generally available to the public other than as a result of a disclosure
by Agent or such Lender not permitted by this Agreement, (b) was available to
Agent or such Lender on a nonconfidential basis prior to its disclosure to Agent
or such Lender or (c) becomes available to Agent or such Lender on a
nonconfidential basis from a Person other than a Company that is not, to the
knowledge of Agent or such Lender, acting in violation of a confidentiality
agreement with a Company or is not otherwise prohibited from disclosing the
information to Agent or such Lender.

      "Consideration" shall mean, in connection with an Acquisition, the
aggregate consideration paid, including borrowed funds, cash, the issuance of
securities or notes, the assumption or incurring of liabilities (direct or
contingent), the payment of consulting fees or fees for a covenant not to
compete and any other consideration paid for such Acquisition.

      "Consolidated" shall mean the resultant consolidation of the financial
statements of US Borrower and its Subsidiaries in accordance with GAAP,
including principles of consolidation consistent with those applied in
preparation of the consolidated financial statements referred to in Section 6.13
hereof.

      "Consolidated Attributable Debt" shall mean, at any date, the total of all
Attributable Debt of the Companies outstanding on such date, after eliminating
all offsetting debits and credits between the Companies and all other items
required to be eliminated in the course of the preparation of the financial
statements of US Borrower, as determined on a Consolidated basis and in
accordance with GAAP.

      "Consolidated Current Debt" shall mean, at any date, all Current Debt of
the Companies outstanding on such date, after eliminating all offsetting debits
and credits between the Companies and all other items required to be eliminated
in the course of the preparation of the financial statements of US Borrower, as
determined on a Consolidated basis and in accordance with GAAP.

      "Consolidated Depreciation and Amortization Charges" shall mean, for any
period, the aggregate of all depreciation and amortization charges for fixed
assets, leasehold improvements and general intangibles (specifically including
goodwill) of the Companies for such period, as determined on a Consolidated
basis and in accordance with GAAP.

      "Consolidated EBITDA" shall mean, for any period, as determined on a
Consolidated basis and in accordance with GAAP, Consolidated Net Earnings for
such period plus the aggregate amounts deducted in determining such Consolidated
Net Earnings in respect of (a) Consolidated Interest Expense, (b) Consolidated
Income Tax Expense, (c) Consolidated Depreciation and Amortization Charges, and
(d) non-recurring charges and expenses incurred in an amount not to exceed, in
the aggregate for both years, Thirty-Five Million Dollars ($35,000,000) for the
2005 and 2006 fiscal years of US Borrower.

      "Consolidated Income Tax Expense" shall mean, for any period, all
provisions for taxes based on the gross or net income of the Companies
(including, without limitation, any additions

                                       11
<PAGE>

to such taxes, and any penalties and interest with respect thereto), and all
franchise taxes of the Companies, as determined on a Consolidated basis and in
accordance with GAAP.

      "Consolidated Interest Expense" shall mean, for any period, the interest
expense of the Companies for such period, as determined on a Consolidated basis
and in accordance with GAAP.

      "Consolidated Long-Term Funded Debt" shall mean, at any date, Long-Term
Funded Debt of the Companies outstanding on such date, after eliminating all
offsetting debits and credits between the Companies and all other items required
to be eliminated in the course of the preparation of the financial statements of
US Borrower, as determined on a Consolidated basis and in accordance with GAAP.

      "Consolidated Net Earnings" shall mean, for any period, the net income
(loss) of the Companies for such period, as determined on a Consolidated basis
and in accordance with GAAP.

      "Consolidated Net Worth" shall mean, at any time:

            (a) the sum of (i) the par value (or value stated on the books of
      the corporation) of the capital stock (but excluding treasury stock,
      capital stock subscribed and unissued and preferred stock redeemable prior
      to the last day of the Commitment Period) of the Companies, plus (ii) the
      amount of the paid-in capital and retained earnings of the Companies, in
      each case as such amounts would be shown on a Consolidated balance sheet
      of US Borrower as of such time prepared in accordance with GAAP; minus

            (b) to the extent included in subpart (a) hereof, all amounts
      properly attributable to minority interests, if any, in the stock and
      surplus of Subsidiaries.

      "Consolidated Senior Long-Term Funded Debt" shall mean all Consolidated
Long-Term Funded Debt other than any such Debt that has been Subordinated.

      "Consolidated Total Assets" shall mean, at any time, all of the assets of
the Companies, as determined on a Consolidated basis and in accordance with
GAAP, after eliminating all amounts properly attributable to minority interests,
if any, in the stock and surplus of Subsidiaries.

      "Consolidated Total Capitalization" shall mean, at any time, the sum of
Consolidated Net Worth and Consolidated Long-Term Funded Debt.

      "Consolidated Total Indebtedness" shall mean, at any date, all
Indebtedness (including, but not limited to, current, long-term and Subordinated
Indebtedness, if any) of the Companies, as determined on a Consolidated basis
and in accordance with GAAP.

      "Control Event" shall mean (a) the execution of any written agreement or
letter of intent that, when fully performed by the parties thereto, would result
in a Change in Control; or (b) the

                                       12
<PAGE>

making of any written offer by any person (as such term is used in Rule 13d-5
under the Exchange Act as in effect on the Closing Date) or related persons
constituting a group (as such term is used in Rule 13d-5 under the Exchange Act
as in effect on the Closing Date) to the holders of Voting Shares of US Borrower
that, if accepted, would result in a Change in Control.

      "Controlled Group" shall mean a Company and each Person required to be
aggregated with a Company under Code Section 414(b), (c), (m) or (o).

      "Credit Event" shall mean the making by the Lenders of a Loan, the
conversion by the US Lenders of a US Base Rate Loan to a US Fixed Rate Loan or
by the Canadian Lenders of a Canadian Base Rate Loan to a CAD CDOR Loan, the
continuation by the applicable Lenders of a Fixed Rate Loan after the end of the
applicable Interest Period, the making by the US Swing Line Lender of a US Swing
Loan, the making by the Canadian Swing Line Lender of a Canadian Swing Loan, or
the issuance by the Fronting Lender of a Letter of Credit.

      "Credit Party" shall mean a Borrower and any Subsidiary or other Affiliate
that is a Guarantor of Payment.

      "Current Debt" shall mean, at any date, with respect to any Person, all
Debt of such Person which by its terms or by the terms of any instrument or
agreement relating thereto matures on demand or within one year from the date of
the creation thereof and is not directly or indirectly renewable or extendible
at the option of the obligor in respect thereof to a date one year or more from
such date; provided, however, that (a) Debt outstanding under a revolving credit
or similar agreement which obligates the lender or lenders to extend credit over
a period of one year or more and (b) Current Maturities of Long-Term Funded Debt
shall constitute Long-Term Funded Debt and not Current Debt, even though such
Debt by its terms matures on demand or within one year from such date.

      "Current Maturities of Long-Term Funded Debt" shall mean, at any date,
with respect to any item of Long-Term Funded Debt, the portion of such Long-Term
Funded Debt outstanding at such time which by the terms of such Long-Term Funded
Debt or the terms of any instrument or agreement relating thereto is due on
demand or within one year from such time (whether by sinking fund, other
required prepayment or final payment at maturity) and is not directly or
indirectly renewable, extendible or refundable at the option of the obligor
under an agreement or firm commitment in effect at such time to a date one year
or more from such time.

      "Debt" shall mean, for any Company, without duplication:

            (a) all liabilities for borrowed money;

            (b) all liabilities for the deferred purchase price of property
      acquired by such Company (excluding accounts payable arising in the
      ordinary course of business but including, without limitation, all
      liabilities created or arising under any conditional sale or other title
      retention agreement with respect to any such property);

                                       13
<PAGE>

            (c) all liabilities appearing on its balance sheet in accordance
      with GAAP in respect of capital leases;

            (d) all liabilities for borrowed money secured by any Lien with
      respect to any property owned by such Company (whether or not it has
      assumed or otherwise become liable for such liabilities); and

            (e) any guaranty by such Company with respect to liabilities of a
      type described in any of subpart (a) through (d) hereof.

Debt of any Company shall include all obligations of such Company of the
character described in subparts (a) through (e) to the extent such Company
remains legally liable in respect thereof notwithstanding that any such
obligation is deemed to be extinguished under GAAP.

      "Debt Prepayment Application" shall mean, with respect to any sale, lease,
transfer or other disposition of property, the application by a Company of cash
in an amount equal to the Net Proceeds Amount with respect to such sale, lease,
transfer or other disposition to pay Consolidated Senior Long-Term Funded Debt
of such Company (other than Consolidated Senior Long-Term Funded Debt owing to a
Company or any Affiliate and Consolidated Senior Long-Term Funded Debt in
respect of any revolving credit or similar credit facility providing a Company
with the right to obtain loans or other extensions of credit from time to time,
except to the extent that, in connection with such payment of Consolidated
Senior Long-Term Funded Debt, the availability of credit under such credit
facility is permanently reduced by an amount not less than the amount of such
proceeds applied to the payment of such Consolidated Senior Long-Term Funded
Debt).

      "Default" shall mean an event or condition that constitutes, or with the
lapse of any applicable grace period or the giving of notice or both would
constitute, an Event of Default, and that has not been waived by the Required
Lenders in writing.

      "Default Rate" shall mean (a) with respect to any Loan, a rate per annum
equal to two percent (2%) in excess of the rate otherwise applicable thereto,
and (b) with respect to any other amount, if no rate is specified or available,
a rate per annum equal to two percent (2%) in excess of the US Base Rate from
time to time in effect.

      "Derived CAD Fixed Rate" shall mean a rate per annum equal to the sum of
the Applicable Margin (from time to time in effect) plus the CAD Fixed Rate.

      "Derived LIBOR Fixed Rate" shall mean (a) with respect to a Eurodollar
Loan, a rate per annum equal to the sum of the Applicable Margin (from time to
time in effect) plus the Eurodollar Rate, and (b) with respect to an Alternate
Currency Loan, a rate per annum equal to the sum of the Applicable Margin (from
time to time in effect) plus the Alternate Currency Rate applicable to the
relevant Alternate Currency.

      "Designated Lending Office" shall mean the office of Canadian Funding
Agent, at 1 First Canadian Place, 19th Floor, Toronto, Ontario M5X1A1,
Attention: Manager, Global Distribution

                                       14
<PAGE>

Services, or such other office and address in Canada as Canadian Funding Agent
may from time to time designate.

      "Dollar" or the sign $ shall mean lawful money of the United States of
America.

      "Dollar Equivalent" shall mean (a) with respect to a Canadian CAD Base
Rate Loan, a CAD CDOR Loan or a Canadian CAD Swing Loan, the Dollar equivalent
of the amount of such Loan, determined by Agent on the basis of its spot rate at
approximately 11:00 A.M. (London time) on the date two Business Days before the
date of such Loan, for the purchase of Canadian Dollars with Dollars for
delivery on the date of such Loan, (b) with respect to an Alternate Currency
Loan or Letter of Credit denominated in an Alternate Currency, the Dollar
equivalent of the amount of such Alternate Currency Loan or Letter of Credit
denominated in an Alternate Currency, determined by Agent on the basis of its
spot rate at approximately 11:00 A.M. (London time) on the date two Business
Days before the date of such Alternate Currency Loan, for the purchase of the
relevant Alternate Currency with Dollars for delivery on the date of such
Alternate Currency Loan or Letter of Credit, and (c) with respect to any other
amount, if such amount is denominated in Dollars, then such amount in Dollars
and, otherwise the Dollar equivalent of such amount, determined by Agent on the
basis of its spot rate at approximately 11:00 A.M. (London time) on the date for
which the Dollar equivalent amount of such amount is being determined, for the
purchase of Canadian Dollars or the relevant Alternate Currency, as the case may
be, with Dollars for delivery on such date; provided, however, that, in
calculating the Dollar Equivalent for purposes of determining (i) any Borrower's
obligation to prepay Loans and Letters of Credit pursuant to Section 2.11
hereof, or (ii) any Borrower's ability to request additional Loans or Letters of
Credit pursuant to the Commitment, Agent may, in its discretion, on any Business
Day selected by Agent (prior to payment in full of the Obligations), calculate
the Dollar Equivalent of each such Loan or Letter of Credit. Agent shall notify
US Borrower of the Dollar Equivalent of such Canadian CAD Base Rate Loans, CAD
CDOR Loans, Canadian CAD Swing Loans, Alternate Currency Loans or any other
amount, at the time that such Dollar Equivalent shall have been determined
pursuant to this definition.

      "Dormant Subsidiary" shall mean a Company that (a) is not a Credit Party,
(b) has aggregate assets of less than One Million Dollars ($1,000,000), and (c)
has no direct or indirect Subsidiaries with aggregate assets for all such
Subsidiaries of more than One Million Dollars ($1,000,000).

      "Eligible Transferee" shall mean a commercial bank, financial institution
or other "accredited investor" (as defined in SEC Regulation D or, for the
purposes of the Canadian Commitment, as defined in Ontario Securities Commission
Rule 45-501) that is not a Borrower, a Subsidiary or an Affiliate.

      "Environmental Laws" shall mean all provisions of law (including the
common law), statutes, ordinances, codes, rules, guidelines, policies,
procedures, orders-in-council, regulations, permits, licenses, judgments, writs,
injunctions, decrees, orders, awards and standards promulgated by a Governmental
Authority or by any court, agency, instrumentality, regulatory authority or
commission of any of the foregoing concerning health, safety and protection of,
or regulation of the discharge of substances into, the environment.

                                       15
<PAGE>

      "Environmental Permits" shall mean all permits, licenses, authorizations,
certificates, approvals or registrations required by any Governmental Authority
under any Environmental Laws.

      "ERISA" shall mean the Employee Retirement Income Security Act of 1974, as
amended from time to time, and the regulations promulgated pursuant thereto.

      "ERISA Event" shall mean (a) the occurrence of an event with respect to an
ERISA Plan that results in the imposition of an excise tax or any other
liability on a Company or of the imposition of a Lien on the assets of a
Company; (b) the engagement by a Controlled Group member in a non-exempt
"prohibited transaction" (as defined under ERISA Section 406 or Code Section
4975) or a breach of a fiduciary duty under ERISA that results in liability to a
Company; (c) the application by a Controlled Group member for a waiver from the
minimum funding requirements of Code Section 412 or ERISA Section 302 or a
Controlled Group member is required to provide security under Code Section
401(a)(29) or ERISA Section 307; (d) the occurrence of a Reportable Event with
respect to any Pension Plan as to which notice is required to be provided to the
PBGC; (e) the withdrawal by a Controlled Group member from a Multiemployer Plan
in a "complete withdrawal" or a "partial withdrawal" (as such terms are defined
in ERISA Sections 4203 and 4205, respectively); (f) the involvement of, a
Multiemployer Plan in any reorganization under ERISA Section 4241; (g) the
failure of an ERISA Plan (and any related trust) that is intended to be
qualified under Code Sections 401 and 501 to be so qualified or the failure of
any "cash or deferred arrangement" under any such ERISA Plan to meet the
requirements of Code Section 401(k) in any material respect; (h) the termination
of a Pension Plan by the PBGC or appointment by the PBGC of a trustee to
administer a Pension Plan, or the termination of a Pension Plan by a Controlled
Group member; (i) the failure by a Controlled Group member or an ERISA Plan to
substantially satisfy any requirements of law applicable to an ERISA Plan in any
material respect; (j) the commencement, existence or threatening of a claim,
action, suit, audit or investigation with respect to an ERISA Plan, other than a
routine claim for benefits; or (k) any incurrence by a Controlled Group member
of any liability for post-retirement benefits under any Welfare Plan, other than
as required by ERISA Section 601, et. seq. or Code Section 4980B.

      "ERISA Plan" shall mean an "employee benefit plan" (within the meaning of
ERISA Section 3(3)) that a Controlled Group member at any time sponsors,
maintains, contributes to, has liability with respect to or has an obligation to
contribute to such plan.

      "Eurocurrency Liabilities" shall have the meaning assigned to that term in
Regulation D of the Board of Governors of the Federal Reserve System, as in
effect from time to time.

      "Eurodollar" shall mean a Dollar denominated deposit in a bank or branch
outside of the United States.

      "Eurodollar Loan" shall mean a US Eurodollar Loan or a Canadian Eurodollar
Loan.

                                       16
<PAGE>

      "Eurodollar Rate" shall mean, with respect to a Eurodollar Loan, for any
Interest Period, a rate per annum equal to the quotient obtained (rounded
upwards, if necessary, to the nearest 1/16th of 1%) by dividing (a) the rate of
interest, determined by Agent (or Canadian Funding Agent, as applicable) in
accordance with its usual procedures (which determination shall be conclusive
absent manifest error) as of approximately 11:00 A.M. (London time) two Business
Days prior to the beginning of such Interest Period pertaining to such
Eurodollar Loan, as listed on British Bankers Association Interest Rate LIBOR 01
or 02 as provided by Reuters (or, if for any reason such rate is unavailable
from Reuters, from any other similar company or service that provides rate
quotations comparable to those currently provided by Reuters) as the rate in the
London interbank market for Dollar deposits in immediately available funds with
a maturity comparable to such Interest Period, provided that, in the event that
such rate quotation is not available for any reason, then the Eurodollar Rate
shall be the average (rounded upward to the nearest 1/16th of 1%) of the per
annum rates at which deposits in immediately available funds in Dollars for the
relevant Interest Period and in the amount of the Eurodollar Loan to be
disbursed or to remain outstanding during such Interest Period, as the case may
be, are offered to Agent (or an affiliate of Agent, in Agent's discretion, or
Canadian Funding Agent, as applicable) by prime banks in any Eurodollar market
reasonably selected by Agent (or Canadian Funding Agent, as applicable),
determined as of 11:00 A.M. (London time) (or as soon thereafter as
practicable), two Business Days prior to the beginning of the relevant Interest
Period pertaining to such Eurodollar Loan hereunder; by (b) 1.00 minus the
Reserve Percentage.

      "Event of Default" shall mean an event or condition that shall constitute
an event of default as defined in Article VII hereof.

      "Excluded Subsidiary Debt" shall mean (a) intercompany Debt of the
Companies, (b) any guaranty by a Subsidiary of Debt of the Companies under this
Agreement and (c) Debt of MIX under the Note Purchase Agreements and Debt of any
guarantor thereof that is a Subsidiary.

      "Excluded Taxes" shall mean net income taxes (and franchise taxes imposed
in lieu of net income taxes) imposed on Agent or any Lender by the Governmental
Authority located in any jurisdiction, as a result of Agent or Lender, as
applicable, having been a citizen or resident of the jurisdiction of such taxing
authority or being or having been engaged in a trade or business in such
jurisdiction (but excluding any connection arising solely from Agent's or any
Lender's execution or enforcement of, or performance of, its obligations
hereunder or under any of the other Loan Documents, or the Intercreditor
Agreement or the Lender Agreement).

      "Federal Funds Effective Rate" shall mean, for any day, the rate per annum
(rounded upward to the nearest one one-hundredth of one percent (1/100 of 1%))
announced by the Federal Reserve Bank of New York (or any successor) on such day
as being the weighted average of the rates on overnight federal funds
transactions arranged by federal funds brokers on the previous trading day, as
computed and announced by such Federal Reserve Bank (or any successor) in
substantially the same manner as such Federal Reserve Bank computes and
announces the weighted average it refers to as the "Federal Funds Effective
Rate" as of the Closing Date.

                                       17
<PAGE>

      "Financial Officer" shall mean any of the following officers: chief
executive officer, president, chief financial officer or treasurer. Unless
otherwise qualified, all references to a Financial Officer in this Agreement
shall refer to a Financial Officer of US Borrower.

      "Fixed Rate Loan" shall mean a US Eurodollar Loan, an Alternate Currency
Loan, a Canadian Eurodollar Loan or a CAD CDOR Loan.

      "Fronting Lender" shall mean, as to any Letter of Credit transaction
hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent
either shall be unable to issue or shall agree that another US Lender may issue,
a Letter of Credit, such other US Lender as shall agree to issue the Letter of
Credit in its own name, but on behalf of the US Lenders hereunder.

      "GAAP" shall mean generally accepted accounting principles in the United
States as then in effect, which shall include the official interpretations
thereof by the Financial Accounting Standards Board, applied on a basis
consistent with the past accounting practices and procedures of US Borrower;
provided that, when used with respect to any Company organized under the laws of
Canada, "GAAP" shall mean generally accepted accounting principles in Canada as
approved by the Canadian Institute of Chartered Accountants in effect from time
to time applied on a basis consistent with the past accounting practices and
procedures of such Company.

      "Governmental Authority" shall mean any nation or government, any state,
province or territory or other political subdivision thereof, any governmental
agency, department, authority, instrumentality, regulatory body, court, central
bank or other governmental entity exercising executive, legislative, judicial,
taxing, regulatory or administrative functions of or pertaining to government,
any securities exchange and any self-regulatory organization.

      "Guarantor" shall mean a Person that shall have pledged its credit or
property in any manner for the payment or other performance of the indebtedness,
contract or other obligation of another and includes (without limitation) any
guarantor (whether of payment or of collection), surety, co-maker, endorser or
Person that shall have agreed conditionally or otherwise to make any purchase,
loan or investment in order thereby to enable another to prevent or correct a
default of any kind.

      "Guarantor of Payment" shall mean MIX, which is executing and delivering a
Guaranty of Payment on the Closing Date, or any other Person that shall deliver
a Guaranty of Payment to Agent subsequent to the Closing Date.

      "Guaranty of Payment" shall mean the Parent Guaranty of Payment and each
other Guaranty of Payment executed and delivered on or after the Closing Date in
connection with this Agreement, as the same may from time to time be amended,
restated or otherwise modified.

      "Hedge Agreement" shall mean any (a) hedge agreement, interest rate swap,
basis swap agreement, cap, collar or floor agreement, or other interest rate
management device (including forward rate agreements) entered into by a Company
with any Person in connection with any Indebtedness of such Company; (b)
currency swap agreement, forward currency purchase agreement or similar
arrangement or agreement designed to protect against fluctuations in

                                       18
<PAGE>

currency exchange rates entered into by a Company with any Person; or (c)
forward commodity purchase agreement or similar agreement or arrangement
designed to protect against fluctuations in raw material or other commodity
prices entered into by a Company with any Person.

      "Indebtedness" shall mean, for any Company (excluding in all cases trade
payables payable in the ordinary course of business by such Company), without
duplication, (a) all obligations to repay borrowed money, direct or indirect,
incurred or assumed, (b) all obligations for the deferred purchase price of
capital assets, (c) all obligations under conditional sales or other title
retention agreements, (d) all obligations (contingent or otherwise) under any
letter of credit or banker's acceptance, (e) all net obligations (on a
mark-to-market basis) under any currency swap agreement, interest rate swap,
cap, collar or floor agreement or other interest rate management device or any
Hedge Agreement, (f) all synthetic leases, (g) all capital lease obligations
that have been or should be capitalized on the books of such Company in
accordance with GAAP, (h) all obligations of such Company with respect to asset
securitization financing programs, (i) all obligations to advance funds to, or
to purchase assets, property or services from, any other Person in order to
maintain the financial condition of such Person, (j) any other transaction
(including forward sale or purchase agreements) having the commercial effect of
a borrowing of money entered into by such Company to finance its operations or
capital requirements, and (k) any guaranty of any obligation described in
subpart (a) through (j) hereof.

      "Intercreditor Agreement" shall mean the Intercreditor Agreement, dated as
of the Closing Date among Agent, for the benefit of and on behalf of the
Lenders, and the Noteholders, as the same may from time to time be amended,
restated or otherwise modified.

      "Interest Adjustment Date" shall mean the last day of each Interest
Period.

      "Interest Period" shall mean:

            (a) with respect to any US Fixed Rate Loan, the period commencing on
      the date such US Fixed Rate Loan is made and ending on the last day of
      such period, as selected by US Borrower pursuant to the provisions hereof,
      and, thereafter (unless, with respect to a US Eurodollar Loan, such US
      Fixed Rate Loan is converted to a US Base Rate Loan), each subsequent
      period commencing on the day after the last day of the immediately
      preceding Interest Period and ending on the last day of such period, as
      selected by US Borrower pursuant to the provisions hereof. The duration of
      each Interest Period for a US Fixed Rate Loan shall be one month, two
      months, three months or six months (or, if available from all of the US
      Lenders, as determined by Agent and the US Lenders, in their sole but
      reasonable discretion, twelve months), in each case as US Borrower may
      select upon notice, as set forth in Section 2.6 hereof; provided that (i)
      if US Borrower shall fail to so select the duration of any Interest Period
      for a US Eurodollar Loan at least three Business Days prior to the
      Interest Adjustment Date applicable to such US Eurodollar Loan, US
      Borrower shall be deemed to have converted such US Fixed Rate Loan to a US
      Base Rate Loan at the end of the then current Interest Period; and (ii)
      each Alternate Currency Loan must be repaid on the last day of the
      Interest Period applicable thereto; and

                                       19
<PAGE>

            (b) with respect to a Canadian Fixed Rate Loan, the period
      commencing on the date such Canadian Fixed Rate Loan is made and ending on
      the last day of such period, as selected by Canadian Borrower pursuant to
      the provisions hereof, and, thereafter (unless such Canadian Fixed Rate
      Loan is converted to a Canadian Base Rate Loan), each subsequent period
      commencing on the day after the last day of the immediately preceding
      Interest Period and ending on the last day of such period, as selected by
      Canadian Borrower pursuant to the provisions hereof. The duration of each
      Interest Period for a Canadian Fixed Rate Loan shall be one month, two
      months, three months or six months (or, if available from all of the
      Canadian Lenders, as determined by Agent and the Canadian Lenders, in
      their sole but reasonable discretion, twelve months), in each case as
      Canadian Borrower may select upon notice, as set forth in Section 2.6
      hereof; provided that (i) if Canadian Borrower shall fail to so select the
      duration of any Interest Period at least three Business Days prior to the
      Interest Adjustment Date applicable to such Canadian Fixed Rate Loan,
      Canadian Borrower shall be deemed to have converted such Canadian Fixed
      Rate Loan to a Canadian Base Rate Loan at the end of the then current
      Interest Period and (ii) each Canadian Eurodollar Loan must be repaid on
      the last day of the Interest Period applicable thereto.

      "Largest Other Shareholder" shall mean, with respect to Voting Shares of
US Borrower having Special Voting Power or Ordinary Voting Power, the person (as
such term is used in Rule 13d-5 under the Exchange Act as in effect on the
Closing Date) or related persons constituting a group (as such term is used in
Rule 13d-5 under the Exchange Act as in effect on the Closing Date), other than
the Smucker Family, possessing Voting Shares of US Borrower with the greatest
Special Voting Power or the greatest Ordinary Voting Power, as the case may be.

      "Lender Agreement" shall mean that certain Lender Agreement, dated as of
the Closing Date, between Agent, on behalf of the US Lenders, and Canadian
Funding Agent, on behalf of the Canadian Lenders, as the same may from time to
time be amended, restated or otherwise modified.

      "Lease Rentals" shall mean for any period, the sum of the minimum amount
of rental and other obligations required to be paid during such period by a
Company as lessee under all leases of real or personal property (other than
capital leases), excluding any amounts required to be paid by the lessee
(whether or not therein designated as rental or additional rental) (a) that are
on account of maintenance and repairs, insurance, taxes, assessments, water
rates and similar charges, or (b) that are based on profits, revenues or sales
realized by the lessee from the leased property or otherwise based on the
performance of the lessee.

      "Letter of Credit" shall mean a commercial documentary letter of credit or
standby letter of credit that shall be issued by the Fronting Lender for the
account of US Borrower, including amendments thereto, if any, and shall have an
expiration date no later than the earlier of (a) one year after its date of
issuance, or (b) thirty (30) days prior to the last day of the Commitment
Period.

                                       20
<PAGE>

      "Letter of Credit Commitment" shall mean the commitment of the Fronting
Lender, on behalf of the US Lenders, to issue Letters of Credit in an aggregate
face amount of up to Twenty-Five Million Dollars ($25,000,000).

      "Letter of Credit Exposure" shall mean, at any time, the Dollar Equivalent
of the sum of (a) the aggregate undrawn face amount of all issued and
outstanding Letters of Credit, and (b) the aggregate of the draws made on
Letters of Credit that have not been reimbursed by US Borrower or converted to a
US Revolving Loan pursuant to Section 2.2(b) hereof.

      "Leverage Ratio" shall mean, at any time, as determined on a Consolidated
basis and in accordance with GAAP, the ratio of (a) Consolidated Total
Indebtedness (for the most recently completed fiscal quarter of US Borrower) to
(b) Consolidated EBITDA (for the most recently completed four fiscal quarters of
US Borrower).

      "Lien" shall mean any mortgage, security interest, lien (statutory or
other), deemed trust, charge, assignment, hypothecation, encumbrance on, pledge
or deposit of, or conditional sale, leasing (other than operating leases), sale
with a right of redemption or other title retention agreement and any
capitalized lease with respect to any property (real or personal) or asset.

      "Loan" shall mean a US Revolving Loan or a US Swing Loan granted to US
Borrower by the US Lenders in accordance with Section 2.2(a) or 2.2(c) hereof,
or a Canadian Revolving Loan or a Canadian Swing Loan granted to Canadian
Borrower by the Canadian Lenders in accordance with Section 2.3(a) or 2.3(b)
hereof.

      "Loan Documents" shall mean, collectively, this Agreement, each Note, each
Guaranty of Payment, all documentation relating to each Letter of Credit, the
Agent Fee Letter and the Closing Fee Letter, as any of the foregoing may from
time to time be amended, restated or otherwise modified or replaced, and any
other document delivered pursuant thereto.

      "Long-Term Funded Debt" shall mean, with respect to any Person, all Debt
of such Person which by its terms or by the terms of any instrument or agreement
relating thereto matures, or which is otherwise payable or unpaid, one year or
more from, or is directly or indirectly renewable or extendible at the option of
the obligor in respect thereof to a date one year or more (including, without
limitation, an option of such obligor under a revolving credit or similar
agreement obligating the lender or lenders to extend credit over a period of one
year or more) from, the date of the creation thereof.

      "Material Adverse Effect" shall mean a material adverse effect on (a) the
business, operations, affairs, financial condition, assets or property of the
Companies taken as a whole, (b) the ability of US Borrower or Canadian Borrower
to perform its obligations under this Agreement or any of the other Loan
Documents, (c) the ability of any Guarantor of Payment to perform its
obligations under its Guaranty of Payment, or (d) the validity or enforceability
of this Agreement or any of the other Loan Documents.

      "Material Indebtedness Agreement" shall mean any debt instrument, lease
(capital, operating or otherwise), guaranty, contract, commitment, agreement or
other arrangement

                                       21
<PAGE>

evidencing any Indebtedness of any Company or the Companies in excess of the
amount of Fifteen Million Dollars ($15,000,000).

      "Maximum Amount" shall mean, for each Lender, the amount set forth
opposite such Lender's name under the column headed "Maximum Amount" as set
forth on Schedule 1 hereto, subject to decreases determined pursuant to Section
2.9(d) hereof and assignments of interests pursuant to Section 10.10 hereof;
provided, however, that the Maximum Amount for the US Swing Line Lender shall
exclude the US Swing Line Commitment and the Maximum Amount for the Canadian
Swing Line Lender shall exclude the Canadian Swing Line Commitment.

      "Maximum Canadian Revolving Amount" shall mean the CAD Equivalent of
Seventy Million Dollars ($70,000,000), as such amount may be reduced pursuant to
Section 2.9(d) hereof.

      "Maximum US Revolving Amount" shall mean One Hundred Ten Million Dollars
($110,000,000), as such amount may be reduced pursuant to Section 2.9(d) hereof.

      "MIX" shall mean International Multifoods Corporation, a Delaware
corporation, formerly known as MIXAcquisition Corporation, and its successors
and assigns.

      "Multiemployer Plan" shall mean a Pension Plan that is subject to the
requirements of Subtitle E of Title IV of ERISA.

      "Net Proceeds Amount" shall mean, with respect to any sale, lease,
transfer or other disposition of any property by any Person, an amount equal to
the difference of (a) the aggregate amount of the consideration (valued at the
fair market value of such consideration at the time of the consummation of such
sale, lease, transfer or other disposition) received by such Person in respect
of such sale, lease, transfer or other disposition, minus (b) all ordinary and
reasonable out-of-pocket costs and expenses actually incurred by such Person in
connection with such sale, lease, transfer or other disposition.

      "Note" shall mean a Revolving Credit Note or a Swing Line Note, or any
other promissory note delivered pursuant to this Agreement.

      "Note Purchase Agreement" shall mean, collectively, (a) those certain Note
Purchase Agreements, each dated as of June 16, 1999, among US Borrower and each
of the Purchasers (as defined therein), as amended through the date of this
Agreement, relating to $75,000,000 of 6.77% Senior Notes due June 1, 2009; (b)
those certain Note Purchase Agreements, each dated as of August 23, 2000, among
US Borrower and each of the Purchasers (as defined therein), as amended through
the date of this Agreement, relating to (i) $17,000,000 of 7.70% Series A Senior
Notes due September 1, 2005, (ii) $33,000,000 of 7.87% Series B Senior Notes due
September 1, 2007, and (iii) $10,000,000 of 7.94% Series C Senior Notes due
September 1, 2010; (c) that certain Note Purchase Agreement, dated as of May 27,
2004, among US Borrower and each of the Purchasers (as defined therein),
relating to $100,000,000 of 4.78% Senior Notes due June 1, 2014; and (d) any
other similar public or private debt instrument or agreement that

                                       22
<PAGE>

meets the definition of Material Indebtedness Agreement; as each of the
foregoing may from time to time be further amended, restated or otherwise
modified or replaced.

      "Noteholders" shall mean the Purchasers as respectively defined in the
Note Purchase Agreements under the Note Purchase Agreements.

      "Notice of Loan" shall mean a Notice of Loan in the form of the attached
Exhibit E.

      "Obligations" shall mean, collectively, (a) all Indebtedness and other
obligations incurred by Borrowers to Agent, the Fronting Lender, the US Swing
Line Lender, the Canadian Swing Line Lender or any Lender pursuant to this
Agreement, and includes the principal of and interest on all Loans and all
obligations pursuant to Letters of Credit, (b) each extension, renewal or
refinancing thereof in whole or in part, and (c) the facility fees, utilization
fees, the other fees and any prepayment fees payable hereunder, and all fees and
charges in connection with Letters of Credit.

      "Ordinary Voting Power" shall mean the Voting Power attributable to all
Voting Shares of US Borrower entitled to voting rights for purposes of electing
directors of US Borrower.

      "Organizational Documents" shall mean, with respect to any Person (other
than an individual), such Person's Articles (Certificate) of Incorporation,
operating agreement or equivalent formation documents, and Regulations (Bylaws),
or equivalent governing documents, and any amendments to any of the foregoing.

      "Other Taxes" shall mean any and all present or future stamp or
documentary taxes or any other excise, ad valorem or property taxes, goods and
services taxes, harmonized sales taxes and other sales taxes, use taxes, value
added taxes, charges or similar taxes or levies arising from any payment made
hereunder or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement, any other Loan Document, the Intercreditor Agreement
or the Lender Agreement.

      "Overall Commitment Percentage" shall mean a Lender's percentage of the
Total Commitment Amount based upon such Lender's Maximum Amount of the Total
Commitment Amount.

      "Parent Guaranty of Payment" shall mean the Guaranty of Payment executed
and delivered by US Borrower with respect to Canadian Borrower, as the same may
from time to time be amended, restated or otherwise modified.

      "PBGC" shall mean the Pension Benefit Guaranty Corporation, or its
successor.

      "Pension Plan" shall mean an ERISA Plan that is a "pension plan" (within
the meaning of ERISA Section 3(2)).

      "Person" shall mean any individual, sole proprietorship, partnership,
joint venture, unincorporated organization, corporation, limited liability
company, unlimited liability company,

                                       23
<PAGE>

institution, trust, estate, government or other agency or political subdivision
thereof or any other entity.

      "Prime Rate" shall mean the interest rate established from time to time by
Agent as Agent's prime rate, whether or not such rate shall be publicly
announced; the Prime Rate may not be the lowest interest rate charged by Agent
for commercial or other extensions of credit. Each change in the Prime Rate
shall be effective immediately from and after such change.

      "Property Reinvestment Application" shall mean, with respect to any sale,
lease, transfer or other disposition of property, the satisfaction of each of
the following conditions:

            (a) an amount equal to the Net Proceeds Amount with respect to such
      sale, lease, transfer or other disposition shall have been applied to the
      acquisition by the Company making such sale, lease, transfer or other
      disposition, of property that, upon such acquisition, is unencumbered by
      any Lien (other than Liens described in Section 5.9(a) through (f) hereof)
      and that:

                  (i) constitutes property that is (A) properly classifiable
            under GAAP as non-current to the extent that such proceeds are
            derived from the sale, lease, transfer or other disposition of
            property that was properly classifiable as non-current, and
            otherwise properly classifiable as either current or non-current,
            and (B) to be used in the ordinary course of business of such
            Company, or

                  (ii) constitutes equity interests of a Person that shall be,
            on or prior to the time of such acquisition, a Company, and that
            shall invest the proceeds of such acquisition in property of the
            nature described in the immediately preceding subsection (i); and

            (b) US Borrower shall have delivered a certificate of a Financial
      Officer to Agent identifying the property that was the subject of such
      sale, lease, transfer or other disposition, the value of such property,
      and the nature, terms, amount and application of the proceeds from the
      sale, lease, transfer or other disposition.

      "Regularly Scheduled Payment Date" shall mean the last day of each
January, April, July and October of each year.

      "Related Writing" shall mean each Loan Document and any other assignment,
mortgage, security agreement, guaranty agreement, subordination agreement,
financial statement, audit report or other writing furnished by any Credit
Party, or any of its officers, to Agent or the Lenders pursuant to or otherwise
in connection with this Agreement.

      "Reportable Event" shall mean a reportable event as that term is defined
in Title IV of ERISA, except actions of general applicability by the Secretary
of Labor under Section 110 of such Act.

                                       24
<PAGE>

      "Request for Extension" shall mean a notice, substantially in the form of
the attached Exhibit H.

      "Required Lenders" shall mean the holders of at least fifty-one percent
(51%) of the Total Commitment Amount, or, if the US Commitment and the Canadian
Commitment shall have expired or been terminated, the holders of at least
fifty-one percent (51%), based upon each Lender's Applicable Commitment
Percentages, of the sum of (i) the aggregate principal amount outstanding on the
Loans (other than the Swing Loans), and (ii) the Letter of Credit Exposure and
the Swing Line Exposure (including, in each case, the aggregate amount of each
Lender's risk participation and funded participation in Letters of Credit and
Swing Loans).

      "Requirement of Law" shall mean, as to any Person, any law, treaty, rule
or regulation or determination or policy statement or interpretation of an
arbitrator or a court or other Governmental Authority, in each case applicable
to or binding upon such Person or any of its property and having the force of
law.

      "Reserve Percentage" shall mean for any day that percentage (expressed as
a decimal) that is in effect on such day, as prescribed by the Board of
Governors of the Federal Reserve System (or any successor) for determining the
maximum reserve requirement (including, without limitation, all basic,
supplemental, marginal and other reserves and taking into account any
transitional adjustments or other scheduled changes in reserve requirements) for
a member bank of the Federal Reserve System in Cleveland, Ohio, in respect of
Eurocurrency Liabilities. The Derived LIBOR Fixed Rate shall be adjusted
automatically on and as of the effective date of any change in the Reserve
Percentage.

      "Revolving Credit Exposure" shall mean, at any time, the sum of (a) the US
Revolving Exposure, and (b) the Canadian Revolving Exposure.

      "Revolving Credit Note" shall mean a US Revolving Credit Note or a
Canadian Revolving Credit Note.

      "Revolving Loan" shall mean a US Revolving Loan or a Canadian Revolving
Loan.

      "Sale/Leaseback Transaction" shall mean a transaction or series of
transactions pursuant to which a Company shall sell or transfer to any Person
(other than another Company) any property, whether now owned or hereafter
acquired, and, as part of the same transaction or series of transactions, a
Company shall rent or lease as lessee (other than pursuant to a capital lease),
or similarly acquire the right to possession or use of, such property or one or
more properties which such Company intends to use for the same purpose or
purposes as such property.

      "SEC" shall mean the United States Securities and Exchange Commission, or
any governmental body or agency succeeding to any of its principle functions.

      "Smucker Family" shall mean Timothy P. Smucker, Richard K. Smucker, Susan
Smucker Wagstaff and Marcella Smucker Clark, and any member of their immediate
families, heirs, legatees, descendants and blood relatives to the fifth degree
of consanguinity of such

                                       25
<PAGE>

individual, or any trustees or trusts (or other entity created for estate
planning purposes) established for their benefit or the benefit of the members
of their immediate families and lineal descendants.

      "Special Voting Power" shall mean Voting Power attributable to those
Voting Shares of US Borrower entitled to the special voting rights set forth in
Division II, Section 2(a) of the Amended Articles of Incorporation of US
Borrower.

      "Subordinated" shall mean, as applied to Indebtedness or Debt,
Indebtedness or Debt, as the case may be, that shall have been subordinated (by
written terms or written agreement being, in either case, in form and substance
satisfactory to Agent and the Required Lenders) in favor of the prior payment in
full of the Obligations.

      "Subsidiary" of a Company shall mean (a) a corporation more than fifty
percent (50%) of the Voting Power of which is owned, directly or indirectly, by
such Company or by one or more other subsidiaries of such Company or by such
Company and one or more subsidiaries of such Company, (b) a partnership, limited
liability company or unlimited liability company of which such Company, one or
more other subsidiaries of such Company or such Company and one or more
subsidiaries of such Company, directly or indirectly, is a general partner or
managing member, as the case may be, or otherwise has an ownership interest
greater than fifty percent (50%) of all of the ownership interests in such
partnership, limited liability company or unlimited liability company, or (c)
any other Person (other than a corporation, partnership, limited liability
company or unlimited liability company) in which such Company, one or more other
subsidiaries of such Company or such Company and one or more subsidiaries of
such Company, directly or indirectly, has at least a majority interest in the
Voting Power or the power to elect or direct the election of a majority of
directors or other governing body of such Person.

      "Swing Line Exposure" shall mean, at any time, the sum of (a) the US Swing
Line Exposure, and (b) the Canadian Swing Line Exposure.

      "Swing Line Note" shall mean the US Swing Line Note or the Canadian Swing
Line Note.

      "Swing Loan" shall mean a US Swing Loan or a Canadian Swing Loan.

      "Swing Loan Maturity Date" shall mean, with respect to any Swing Loan, the
earlier of (a) thirty (30) days after the date such Swing Loan is made, or (b)
the last day of the Commitment Period.

      "Taxes" shall mean any and all present or future taxes of any kind,
including but not limited to, levies, imposts, duties, charges, fees, deductions
or withholdings now or hereafter imposed, levied, collected, withheld or
assessed by any Governmental Authority (together with any interest, penalties,
additions to taxes or similar liabilities with respect thereto) other than
Excluded Taxes.

                                       26
<PAGE>

      "Total Commitment Amount" shall mean the principal amount of One Hundred
Eighty Million Dollars ($180,000,000) (or such lesser amount as shall be
determined pursuant to Section 2.9(d) hereof).

      "US Base Rate" shall mean a rate per annum equal to the greater of (a) the
Prime Rate or (b) one-half of one percent (.50%) in excess of the Federal Funds
Effective Rate. Any change in the US Base Rate shall be effective immediately
from and after such change in the US Base Rate.

      "US Base Rate Loan" shall mean a US Revolving Loan described in Section
2.2(a) hereof that shall be denominated in Dollars and on which US Borrower
shall pay interest at a rate based on the US Base Rate.

      "US Commitment" shall mean the obligation hereunder of the US Lenders,
during the Commitment Period, to make Loans and issue Letters of Credit pursuant
to the US Revolving Credit Commitments, up to the Maximum US Revolving Amount.

      "US Eurodollar Loan" shall mean a US Revolving Loan described in Section
2.2(a) hereof that shall be denominated in Dollars and on which US Borrower
shall pay interest at a rate based upon the Derived LIBOR Fixed Rate applicable
to Eurodollars.

      "US Fixed Rate Loan" shall mean a US Eurodollar Loan or an Alternate
Currency Loan.

      "US Lender" shall mean each Lender that is designated as a US Lender on
Schedule 1 hereto.

      "US Revolving Credit Commitment" shall mean the obligation hereunder,
during the Commitment Period, of (a) each US Lender to make US Revolving Loans
up to the Maximum Amount for such US Lender, (b) the Fronting Lender to issue
and each US Lender to participate in Letters of Credit pursuant to the Letter of
Credit Commitment, and (c) the US Swing Line Lender to make and each US Lender
to participate in US Swing Loans pursuant to the US Swing Line Commitment.

      "US Revolving Credit Note" shall mean a US Revolving Credit Note executed
and delivered pursuant to Section 2.5(a) hereof.

      "US Revolving Exposure" shall mean the sum of (a) the aggregate principal
amount of all US Revolving Loans outstanding, (b) the US Swing Line Exposure,
and (c) the Letter of Credit Exposure.

      "US Revolving Loan" shall mean a US Base Rate Loan, a US Eurodollar Loan
or an Alternate Currency Loan granted to US Borrower in accordance with Section
2.2(a) hereof.

      "US Swing Line" shall mean the credit facility established by the US Swing
Line Lender for US Borrower in accordance with Section 2.2(c) hereof.

                                       27
<PAGE>

      "US Swing Line Commitment" shall mean the commitment of the US Swing Line
Lender to make US Swing Loans to US Borrower up to the aggregate amount at any
time outstanding of Fifteen Million Dollars ($15,000,000).

      "US Swing Line Exposure" shall mean, at any time, the aggregate principal
amount of all US Swing Loans outstanding.

      "US Swing Line Lender" shall mean KeyBank National Association, as holder
of the US Swing Line Commitment.

      "US Swing Line Note" shall mean the US Swing Line Note executed and
delivered pursuant to Section 2.5(b) hereof.

      "US Swing Loan" shall mean a loan that shall be denominated in Dollars
granted to US Borrower by the US Swing Line Lender under the US Swing Line.

      "Voting Power" shall mean, with respect to any Person, the exclusive
ability to control, through the ownership of shares of capital stock,
partnership interests, membership interests or otherwise, the election of
members of the board of directors or other similar governing body of such
Person. The holding of a designated percentage of Voting Power of a Person means
the ownership of shares of capital stock, partnership interests, membership
interests or other interests of such Person sufficient to control exclusively
the election of that percentage of the members of the board of directors or
similar governing body of such Person.

      "Voting Share" shall mean a share of capital stock of any class or classes
of a Person the holders of which are ordinarily, in the absence of
contingencies, entitled to elect corporate directors (or Persons performing
similar functions).

      "Welfare Plan" shall mean an ERISA Plan that is a "welfare plan" within
the meaning of ERISA Section 3(l).

      "Wholly-Owned Subsidiary" shall mean, with respect to any Person, any
corporation, limited liability company, unlimited liability company or other
entity, all of the securities or other ownership interest of which having
ordinary Voting Power to elect a majority of the board of directors, or other
persons performing similar functions, are at the time directly or indirectly
owned by such Person.

      Section 1.2. Accounting Terms. Any accounting term not specifically
defined in this Article I shall have the meaning ascribed thereto by GAAP.

      Section 1.3. Terms Generally. The foregoing definitions shall be
applicable to the singular and plurals of the foregoing defined terms.

                     ARTICLE II. AMOUNT AND TERMS OF CREDIT

                                       28
<PAGE>

      Section 2.1. Amount and Nature of Credit.

      (a) Subject to the terms and conditions of this Agreement, the Applicable
Lenders, during the Commitment Period and to the extent hereinafter provided,
shall make Loans to Borrowers, participate in Swing Loans made by the US Swing
Line Lender to US Borrower or the Canadian Swing Line Lender to Canadian
Borrower, and issue or participate in Letters of Credit at the request of US
Borrower, in such aggregate amount as Borrowers shall request pursuant to the
Commitment; provided, however, that in no event shall the Revolving Credit
Exposure be in excess of the Total Commitment Amount.

      (b) Each US Lender, for itself and not one for any other, agrees to make
US Revolving Loans, make or participate in US Swing Loans, and issue or
participate in Letters of Credit, during the Commitment Period, on such basis
that, immediately after the completion of any borrowing by US Borrower or the
issuance of a Letter of Credit:

            (i) the Dollar Equivalent of the aggregate outstanding principal
      amount of US Revolving Loans made by such US Lender, when combined with
      such US Lender's pro rata share of the Letter of Credit Exposure and the
      US Swing Line Exposure, shall not be in excess of the Maximum Amount for
      such US Lender; and

            (ii) the aggregate principal amount of US Revolving Loans made by
      such US Lender shall represent that percentage of the aggregate principal
      amount then outstanding on all US Revolving Loans that shall be such US
      Lender's Applicable Commitment Percentage. Each borrowing (other than US
      Swing Loans) from the US Lenders hereunder shall be made pro rata
      according to the respective Applicable Commitment Percentages of the US
      Lenders.

      (c) Each Canadian Lender, for itself and not one for any other, agrees to
make Canadian Revolving Loans and make or participate in Canadian Swing Loans,
during the Commitment Period, on such basis that, immediately after the
completion of any borrowing by Canadian Borrower:

            (i) the Dollar Equivalent of the aggregate outstanding principal
      amount of Canadian Revolving Loans made by such Canadian Lender, when
      combined with such Canadian Lender's pro rata share of the Canadian Swing
      Line Exposure, shall not be in excess of the Maximum Amount for such
      Canadian Lender; and

            (ii) the aggregate principal amount of Canadian Revolving Loans made
      by such Canadian Lender shall represent that percentage of the aggregate
      principal amount then outstanding on all Canadian Revolving Loans that
      shall be such Canadian Lender's Applicable Commitment Percentage. Each
      borrowing (other than Canadian Swing Loans) from the Canadian Lenders
      hereunder shall be made pro rata according to the respective Applicable
      Commitment Percentages of the Canadian Lenders.

      (d) The Loans may be made as US Revolving Loans as described in Section
2.2(a) hereof, Canadian Revolving Loans as described in Section 2.3(a) hereof,
US Swing Loans as

                                       29
<PAGE>

described in Section 2.2(c) hereof, Canadian Swing Loans as described in Section
2.3(b) hereof, and Letters of Credit may be issued in accordance with Section
2.2(b) hereof.

      Section 2.2. US Revolving Credit.

      (a) US Revolving Loans. Subject to the terms and conditions of this
Agreement, during the Commitment Period, the US Lenders shall make a US
Revolving Loan or US Revolving Loans to US Borrower in such amount or amounts as
US Borrower may from time to time request, but not exceeding in the aggregate
principal amount at any time outstanding hereunder the Maximum US Revolving
Amount, when such US Revolving Loans are combined with the Letter of Credit
Exposure and the US Swing Line Exposure; provided, however, that US Borrower
shall not request any Alternate Currency Loan (and the US Lenders shall not be
obligated to make an Alternate Currency Loan) if, after giving effect thereto,
the Alternate Currency Exposure would exceed the Alternate Currency Maximum
Amount. US Borrower shall have the option, subject to the terms and conditions
set forth herein, to borrow US Revolving Loans, maturing on the last day of the
Commitment Period, by means of any combination of US Base Rate Loans, US
Eurodollar Loans or Alternate Currency Loans. With respect to each Alternate
Currency Loan, subject to the other provisions of this Agreement, US Borrower
shall receive all of the proceeds of such Alternate Currency Loan in one
Alternate Currency and repay such Alternate Currency Loan in the same Alternate
Currency. Subject to the provisions of this Agreement, US Borrower shall be
entitled under this Section 2.2(a) to borrow funds, repay the same in whole or
in part and re-borrow hereunder at any time and from time to time during the
Commitment Period.

      (b) Letters of Credit.

            (i) Generally. Subject to the terms and conditions of this
      Agreement, during the Commitment Period, the Fronting Lender shall, in its
      own name, on behalf of the US Lenders, issue such Letters of Credit for
      the account of US Borrower and any other Company (with US Borrower being
      liable to the US Lenders for reimbursement of such Letters of Credit), as
      US Borrower may from time to time request. US Borrower shall not request
      any Letter of Credit (and the Fronting Lender shall not be obligated to
      issue any Letter of Credit) if, after giving effect thereto, (A) the
      Letter of Credit Exposure would exceed the Letter of Credit Commitment,
      (B) the US Revolving Credit Exposure would exceed the Maximum US Revolving
      Amount, or (C) with respect to a request for a Letter of Credit to be
      issued in an Alternate Currency, the Alternate Currency Exposure would
      exceed the Alternate Currency Maximum Amount. The issuance of each Letter
      of Credit shall confer upon each US Lender the benefits and liabilities of
      a participation consisting of an undivided pro rata interest in the Letter
      of Credit to the extent of such US Lender's Applicable Commitment
      Percentage.

            (ii) Request for Letter of Credit. Each request for a Letter of
      Credit shall be delivered to Agent (and to the Fronting Lender, if the
      Fronting Lender is a Lender other than Agent) by an Authorized Officer not
      later than 11:00 A.M. (Eastern time) three Business Days prior to the day
      upon which the Letter of Credit is to be issued. Each such request shall
      be in a form acceptable to Agent (and the Fronting Lender, if the Fronting

                                       30
<PAGE>

      Lender is a Lender other than Agent) and shall specify the face amount
      thereof, whether such Letter of Credit shall be a commercial documentary
      or a standby Letter of Credit, the account party, the beneficiary, the
      intended date of issuance, the expiry date thereof, the Alternate Currency
      or Canadian Dollars, if other than Dollars are requested, and the nature
      of the transaction to be supported thereby. Concurrently with each such
      request, US Borrower shall execute and deliver to the Fronting Lender an
      appropriate application and agreement, being in the standard form of the
      Fronting Lender for such letters of credit, as amended to conform to the
      provisions of this Agreement if required by Agent. Agent shall give the
      Fronting Lender and each US Lender notice of each such request for a
      Letter of Credit.

            (iii) Commercial Documentary Letters of Credit. With respect to each
      Letter of Credit that shall be a commercial documentary letter of credit
      and the drafts thereunder, US Borrower agrees to (A) pay to Agent, for the
      pro rata benefit of the US Lenders, a non-refundable commission based upon
      the face amount of such Letter of Credit, which shall be paid quarterly in
      arrears, on each Regularly Scheduled Payment Date, at a rate per annum
      equal to the Applicable Margin (in effect on the date such payment is to
      be made) times the face amount of such Letter of Credit; (B) pay to Agent,
      for the sole benefit of the Fronting Lender, an additional Letter of
      Credit fee, which shall be paid on the date that any draw shall be made on
      such Letter of Credit, at the rate of one-eighth percent (1/8%) of the
      amount drawn under such Letter of Credit; and (C) pay to Agent, for the
      sole benefit of the Fronting Lender, such other issuance, amendment,
      negotiation, draw, acceptance, telex, courier, postage and similar
      transactional fees as are generally charged by the Fronting Lender under
      its fee schedule as in effect from time to time.

            (iv) Standby Letters of Credit. With respect to each Letter of
      Credit that shall be a standby letter of credit and the drafts thereunder,
      if any, US Borrower agrees to (A) pay to Agent, for the pro rata benefit
      of the US Lenders, a non-refundable commission based upon the face amount
      of such Letter of Credit, which shall be paid quarterly in arrears, on
      each Regularly Scheduled Payment Date, at a rate per annum equal to the
      Applicable Margin (in effect on the date such payment is to be made) times
      the face amount of such Letter of Credit; (B) pay to Agent, for the sole
      benefit of the Fronting Lender, an additional Letter of Credit fee, which
      shall be paid on each date that such Letter of Credit shall be issued,
      amended or renewed at the rate of one-eighth percent (1/8%) of the face
      amount of such Letter of Credit; and (C) pay to Agent, for the sole
      benefit of the Fronting Lender, such other issuance, amendment,
      negotiation, draw, acceptance, telex, courier, postage and similar
      transactional fees as are generally charged by the Fronting Lender under
      its fee schedule as in effect from time to time.

            (v) Refunding of Letters of Credit with Revolving Loans. Whenever a
      Letter of Credit shall be drawn, US Borrower shall immediately reimburse
      the Fronting Lender for the amount drawn. In the event that the amount
      drawn shall not have been reimbursed by US Borrower within one Business
      Day of the drawing of such Letter of Credit, at the sole option of Agent
      (and the Fronting Lender, if the Fronting Lender is a Lender other than
      Agent), US Borrower shall be deemed to have requested a US

                                       31
<PAGE>

      Revolving Loan, subject to the provisions of Sections 2.2(a) and 2.6
      hereof (other than the requirement set forth in Section 2.6(d) hereof), in
      the amount drawn. Such US Revolving Loan shall be evidenced by the US
      Revolving Credit Notes (or, if a US Lender has not requested a US
      Revolving Credit Note, by the records of Agent and such US Lender). Each
      US Lender agrees to make a US Revolving Loan on the date of such notice,
      subject to no conditions precedent whatsoever. Each US Lender acknowledges
      and agrees that its obligation to make a US Revolving Loan pursuant to
      Section 2.2(a) hereof when required by this subsection (v) shall be
      absolute and unconditional and shall not be affected by any circumstance
      whatsoever, including, without limitation, the occurrence and continuance
      of a Default or Event of Default, and that its payment to Agent, for the
      account of the Fronting Lender, of the proceeds of such US Revolving Loan
      shall be made without any offset, abatement, recoupment, counterclaim,
      withholding or reduction whatsoever and whether or not the US Revolving
      Credit Commitment of such US Lender shall have been reduced or terminated.
      US Borrower irrevocably authorizes and instructs Agent to apply the
      proceeds of any borrowing pursuant to this subsection (v) to reimburse, in
      full (other than the Fronting Lender's pro rata share of such borrowing),
      the Fronting Lender for the amount drawn on such Letter of Credit. Each
      such US Revolving Loan shall be deemed to be a US Base Rate Loan unless
      otherwise requested by and available to US Borrower hereunder. Each US
      Lender is hereby authorized to record on its records relating to its US
      Revolving Credit Note (or, if such US Lender has not requested a US
      Revolving Credit Note, its records relating to US Revolving Loans) such US
      Lender's pro rata share of the amounts paid and not reimbursed on the
      Letters of Credit.

            (vi) Participation in Letters of Credit. If, for any reason, Agent
      (or the Fronting Lender if the Fronting Lender shall be a Lender other
      than Agent) shall be unable to or, in the opinion of Agent, it shall be
      impracticable to, convert any Letter of Credit to a US Revolving Loan
      pursuant to the preceding subsection, Agent (or the Fronting Lender if the
      Fronting Lender is a Lender other than Agent) shall have the right to
      request that each US Lender purchase a participation in the amount due
      with respect to such Letter of Credit, and Agent shall promptly notify
      each US Lender thereof (by facsimile or telephone, confirmed in writing).
      Upon such notice, but without further action, the Fronting Lender hereby
      agrees to grant to each US Lender, and each US Lender hereby agrees to
      acquire from the Fronting Lender, an undivided participation interest in
      the amount due with respect to such Letter of Credit in an amount equal to
      such US Lender's Applicable Commitment Percentage of the principal amount
      due with respect to such Letter of Credit. In consideration and in
      furtherance of the foregoing, each US Lender hereby absolutely and
      unconditionally agrees, upon receipt of notice as provided above, to pay
      to Agent, for the account of the Fronting Lender, such US Lender's ratable
      share of the amount due with respect to such Letter of Credit (determined
      in accordance with such US Lender's Applicable Commitment Percentage).
      Each US Lender acknowledges and agrees that its obligation to acquire
      participations in the amount due under any Letter of Credit that is drawn
      but not reimbursed by US Borrower pursuant to this subsection (vi) shall
      be absolute and unconditional and shall not be affected by any
      circumstance whatsoever, including, without limitation, the occurrence and
      continuance of a Default or Event of Default, and that each such payment

                                       32
<PAGE>

      shall be made without any offset, abatement, recoupment, counterclaim,
      withholding or reduction whatsoever and whether or not the US Revolving
      Credit Commitment of such US Lender shall have been reduced or terminated.
      Each US Lender shall comply with its obligation under this subsection (vi)
      by wire transfer of immediately available funds, in the same manner as
      provided in Section 2.6 hereof with respect to US Revolving Loans. Each US
      Lender is hereby authorized to record on its records such US Lender's pro
      rata share of the amounts paid and not reimbursed on the Letters of
      Credit.

      (c) US Swing Loans.

            (i) Generally. Subject to the terms and conditions of this
      Agreement, during the Commitment Period, the US Swing Line Lender shall
      make a US Swing Loan or US Swing Loans to US Borrower in such amount or
      amounts as US Borrower, through an Authorized Officer, may from time to
      time request; provided that US Borrower shall not request any US Swing
      Loan if, after giving effect thereto, (A) the US Revolving Credit Exposure
      would exceed the Maximum US Revolving Amount, or (B) the US Swing Line
      Exposure would exceed the US Swing Line Commitment. Each US Swing Loan
      shall be due and payable on the Swing Loan Maturity Date applicable
      thereto. Each US Swing Loan shall be made in Dollars.

            (ii) Refunding of US Swing Loans. If the US Swing Line Lender so
      elects, by giving notice to US Borrower and the US Lenders, US Borrower
      agrees that the US Swing Line Lender shall have the right, in its sole
      discretion, to require that any US Swing Loan be refinanced as a US
      Revolving Loan. Such US Revolving Loan shall be a US Base Rate Loan unless
      otherwise requested by and available to US Borrower hereunder. Upon
      receipt of such notice by US Borrower and the US Lenders, US Borrower
      shall be deemed, on such day, to have requested a US Revolving Loan in the
      principal amount of the US Swing Loan in accordance with Sections 2.2(a)
      and 2.6 hereof (other than the requirement set forth in Section 2.6(d)
      hereof). Each US Lender agrees to make a US Revolving Loan on the date of
      such notice, subject to no conditions precedent whatsoever. Such US
      Revolving Loan shall be evidenced by the US Revolving Credit Notes (or, if
      a US Lender has not requested a US Revolving Credit Note, by the records
      of Agent and such US Lender). Each US Lender acknowledges and agrees that
      such US Lender's obligation to make a US Revolving Loan pursuant to
      Section 2.2(a) hereof when required by this subsection (ii) is absolute
      and unconditional and shall not be affected by any circumstance
      whatsoever, including, without limitation, the occurrence and continuance
      of a Default or Event of Default, and that its payment to Agent, for the
      account of the US Swing Line Lender, of the proceeds of such US Revolving
      Loan shall be made without any offset, abatement, recoupment,
      counterclaim, withholding or reduction whatsoever and whether or not the
      US Revolving Credit Commitment of such US Lender shall have been reduced
      or terminated. US Borrower irrevocably authorizes and instructs Agent to
      apply the proceeds of any borrowing pursuant to this subsection (ii) to
      repay in full such US Swing Loan. Each US Lender is hereby authorized to
      record on its records relating to its US Revolving Credit Note (or, if
      such US Lender has not requested a US Revolving Credit Note, its records
      relating to US Revolving Loans) such US Lender's pro rata share of the
      amounts paid to refund such US Swing Loan.

                                       33
<PAGE>

            (iii) Participation in US Swing Loans. If, for any reason, Agent is
      unable to or, in the opinion of Agent, it is impracticable to, convert any
      US Swing Loan to a US Revolving Loan pursuant to the preceding subsection
      (ii), then on any day that a US Swing Loan is outstanding (whether before
      or after the maturity thereof), Agent shall have the right to request that
      each US Lender purchase a participation in such US Swing Loan, and Agent
      shall promptly notify each US Lender thereof (by facsimile or telephone,
      confirmed in writing). Upon such notice, but without further action, the
      US Swing Line Lender hereby agrees to grant to each US Lender, and each US
      Lender hereby agrees to acquire from the US Swing Line Lender, an
      undivided participation interest in such US Swing Loan in an amount equal
      to the Applicable Commitment Percentage of such US Lender of the principal
      amount of such US Swing Loan. In consideration and in furtherance of the
      foregoing, each US Lender hereby absolutely and unconditionally agrees,
      upon receipt of notice as provided above, to pay to Agent, for the benefit
      of the US Swing Line Lender, such US Lender's ratable share of such US
      Swing Loan (determined in accordance with the Applicable Commitment
      Percentage of such US Lender). Each US Lender acknowledges and agrees that
      its obligation to acquire participations in US Swing Loans pursuant to
      this subsection (iii) is absolute and unconditional and shall not be
      affected by any circumstance whatsoever, including, without limitation,
      the occurrence and continuance of a Default or an Event of Default, and
      that each such payment shall be made without any offset, abatement,
      recoupment, counterclaim, withholding or reduction whatsoever and whether
      or not the US Revolving Credit Commitment of such US Lender shall have
      been reduced or terminated. Each US Lender shall comply with its
      obligation under this subsection (iii) by wire transfer of immediately
      available funds, in the same manner as provided in Section 2.6 hereof with
      respect to US Revolving Loans to be made by such US Lender.

      Section 2.3. Canadian Revolving Credit.

      (a) Canadian Revolving Credit. Subject to the terms and conditions of this
Agreement, during the Commitment Period, the Canadian Lenders shall make a
Canadian Revolving Loan or Canadian Revolving Loans to Canadian Borrower in such
amount or amounts as Canadian Borrower may from time to time request, but not
exceeding in aggregate principal amount at any time outstanding hereunder the
Maximum Canadian Revolving Amount, when such Canadian Revolving Loans are
combined with the Canadian Swing Line Exposure. Canadian Borrower shall have the
option, subject to the terms and conditions set forth herein, to borrow Canadian
Revolving Loans, maturing no later than the last day of the Commitment Period,
by means of any combination of Canadian CAD Base Rate Loans, Canadian USD Base
Rate Loans, Canadian Eurodollar Loans or CAD CDOR Loans. Subject to the
provisions of this Agreement, Canadian Borrower shall be entitled under this
Section 2.3(a) to borrow funds, repay the same in whole or in part and re-borrow
hereunder at any time and from time to time during the Commitment Period.

                                       34
<PAGE>

      (b) Canadian Swing Loans.

            (i) Generally. Subject to the terms and conditions of this
      Agreement, during the Commitment Period, the Canadian Swing Line Lender
      shall make a Canadian Swing Loan or Canadian Swing Loans to Canadian
      Borrower in such amount or amounts as Canadian Borrower, through an
      Authorized Officer or as provided in Section 2.6(a)(ii) hereof, may from
      time to time request; provided that Canadian Borrower shall not request
      any Canadian Swing Loan if, after giving effect thereto, (A) the Canadian
      Revolving Credit Exposure would exceed the Maximum Canadian Revolving
      Amount, or (B) the Canadian Swing Line Exposure would exceed the Canadian
      Swing Line Commitment. Each Canadian Swing Loan shall be due and payable
      on the Swing Loan Maturity Date applicable thereto. Each Canadian Swing
      Loan shall be made in Dollars or Canadian Dollars.

            (ii) Refunding of Canadian Swing Loans. If the Canadian Swing Line
      Lender so elects, by giving notice to Canadian Borrower and the Canadian
      Lenders, Canadian Borrower agrees that the Canadian Swing Line Lender
      shall have the right, in its sole discretion, to require that any Canadian
      Swing Loan be refinanced as a Canadian Revolving Loan. Such Canadian
      Revolving Loan shall be a Canadian Base Rate Loan unless otherwise
      requested by and available to Canadian Borrower hereunder. Upon receipt of
      such notice by Canadian Borrower and the Canadian Lenders, Canadian
      Borrower shall be deemed, on such day, to have requested a Canadian
      Revolving Loan in the principal amount of the Canadian Swing Loan in
      accordance with Sections 2.3(a) and 2.6 hereof (other than the requirement
      set forth in Section 2.6(d) hereof). Each Canadian Lender agrees to make a
      Canadian Revolving Loan on the date of such notice, subject to no
      conditions precedent whatsoever. Such Canadian Revolving Loan shall be
      evidenced by the Canadian Revolving Credit Notes (or, if a Canadian Lender
      has not requested a Canadian Revolving Credit Note, by the records of
      Agent or Canadian Funding Agent and such Canadian Lender). Each Canadian
      Lender acknowledges and agrees that such Canadian Lender's obligation to
      make a Canadian Revolving Loan pursuant to Section 2.3(a) hereof when
      required by this subsection (ii) is absolute and unconditional and shall
      not be affected by any circumstance whatsoever, including, without
      limitation, the occurrence and continuance of a Default or Event of
      Default, and that its payment to Canadian Funding Agent, for the account
      of the Canadian Swing Line Lender, of the proceeds of such Canadian
      Revolving Loan shall be made without any offset, abatement, recoupment,
      counterclaim, withholding or reduction whatsoever and whether or not the
      Canadian Revolving Credit Commitment of such Canadian Lender shall have
      been reduced or terminated. Canadian Borrower irrevocably authorizes and
      instructs Canadian Funding Agent to apply the proceeds of any borrowing
      pursuant to this subsection (ii) to repay in full such Canadian Swing
      Loan. Each Canadian Lender is hereby authorized to record on its records
      relating to its Canadian Revolving Credit Note (or, if such Canadian
      Lender has not requested a Canadian Revolving Credit Note, its records
      relating to Canadian Revolving Loans) such Canadian Lender's pro rata
      share of the amounts paid to refund such Canadian Swing Loan.

                                       35
<PAGE>

            (iii) Participation in Canadian Swing Loans. If, for any reason,
      Canadian Funding Agent is unable to or, in the opinion of Canadian Funding
      Agent, it is impracticable to, convert any Canadian Swing Loan to a
      Canadian Revolving Loan pursuant to the preceding subsection (ii), then on
      any day that a Canadian Swing Loan is outstanding (whether before or after
      the maturity thereof), Canadian Funding Agent shall have the right to
      request that each Canadian Lender purchase a participation in such
      Canadian Swing Loan, and Canadian Funding Agent shall promptly notify each
      Canadian Lender thereof (by facsimile or telephone, confirmed in writing).
      Upon such notice, but without further action, the Canadian Swing Line
      Lender hereby agrees to grant to each Canadian Lender, and each Canadian
      Lender hereby agrees to acquire from the Canadian Swing Line Lender, an
      undivided participation interest in such Canadian Swing Loan in an amount
      equal to the Applicable Commitment Percentage of such Canadian Lender of
      the principal amount of such Canadian Swing Loan. In consideration and in
      furtherance of the foregoing, each Canadian Lender hereby absolutely and
      unconditionally agrees, upon receipt of notice as provided above, to pay
      to Canadian Funding Agent, for the benefit of the Canadian Swing Line
      Lender, such Canadian Lender's ratable share of such Canadian Swing Loan
      (determined in accordance with the Applicable Commitment Percentage of
      such Canadian Lender). Each Canadian Lender acknowledges and agrees that
      its obligation to acquire participations in Canadian Swing Loans pursuant
      to this subsection (iii) is absolute and unconditional and shall not be
      affected by any circumstance whatsoever, including, without limitation,
      the occurrence and continuance of a Default or an Event of Default, and
      that each such payment shall be made without any offset, abatement,
      recoupment, counterclaim, withholding or reduction whatsoever and whether
      or not the Canadian Revolving Credit Commitment of such Canadian Lender
      shall have been reduced or terminated. Each Canadian Lender shall comply
      with its obligation under this subsection (iii) by wire transfer of
      immediately available funds, in the same manner as provided in Section 2.6
      hereof with respect to Canadian Revolving Loans to be made by such
      Canadian Lender.

      Section 2.4. Interest.

      (a) US Revolving Loans.

            (i) US Base Rate Loan. US Borrower shall pay interest on the unpaid
      principal amount of a US Base Rate Loan outstanding from time to time from
      the date thereof until paid at the US Base Rate from time to time in
      effect. Interest on such US Base Rate Loan shall be payable, commencing
      July 31, 2004, and on each Regularly Scheduled Payment Date thereafter and
      at the maturity thereof.

            (ii) US Fixed Rate Loans. US Borrower shall pay interest on the
      unpaid principal amount of each US Fixed Rate Loan outstanding from time
      to time, fixed in advance on the first day of the Interest Period
      applicable thereto through the last day of the Interest Period applicable
      thereto (but subject to changes in the Applicable Margin), at the Derived
      LIBOR Fixed Rate. Interest on such US Fixed Rate Loan shall be payable on
      each Interest Adjustment Date with respect to an Interest Period (provided
      that if an

                                       36
<PAGE>

      Interest Period shall exceed three months, the interest must be paid every
      three months, commencing three months from the beginning of such Interest
      Period).

      (b) US Swing Loans. US Borrower shall pay interest to Agent, for the sole
benefit of the US Swing Line Lender (and any US Lender that shall have purchased
a participation in such US Swing Loan), on the unpaid principal amount of each
US Swing Loan outstanding from time to time from the date thereof until paid at
the US Base Rate. Interest on each US Swing Loan shall be payable on the Swing
Loan Maturity Date applicable thereto. Each US Swing Loan shall bear interest
for a minimum of one day.

      (c) Canadian Revolving Loans

            (i) Canadian CAD Base Rate Loan. Canadian Borrower shall pay
      interest on the unpaid principal amount of a Canadian CAD Base Rate Loan
      outstanding from time to time from the date thereof until paid at the
      Canadian CAD Base Rate from time to time in effect. Interest on such
      Canadian CAD Base Rate Loan shall be payable, commencing July 31, 2004,
      and on each Regularly Scheduled Payment Date thereafter and at the
      maturity thereof.

            (ii) Canadian USD Base Rate Loan. Canadian Borrower shall pay
      interest on the unpaid principal amount of a Canadian USD Base Rate Loan
      outstanding from time to time from the date thereof until paid at the
      Canadian USD Base Rate from time to time in effect. Interest on such
      Canadian USD Base Rate Loan shall be payable, commencing July 31, 2004,
      and on each Regularly Scheduled Payment Date thereafter and at the
      maturity thereof.

            (iii) CAD CDOR Loans. Canadian Borrower shall pay interest on the
      unpaid principal amount of each CAD CDOR Loan outstanding from time to
      time, fixed in advance on the first day of the Interest Period applicable
      thereto through the last day of the Interest Period applicable thereto
      (but subject to changes in the Applicable Margin), at the Derived CAD
      Fixed Rate. Interest on such CAD CDOR Loan shall be payable on each
      Interest Adjustment Date with respect to an Interest Period (provided that
      if an Interest Period shall exceed ninety (90) days, the interest must be
      paid every ninety (90) days, commencing ninety (90) days from the
      beginning of such Interest Period).

            (iv) Canadian Eurodollar Loans. Canadian Borrower shall pay interest
      on the unpaid principal amount of each Canadian Eurodollar Loan
      outstanding from time to time, fixed in advance on the first day of the
      Interest Period applicable thereto through the last day of the Interest
      Period applicable thereto (but subject to changes in the Applicable
      Margin), at the Eurodollar Rate. Interest on such Canadian Eurodollar Loan
      shall be payable on each Interest Adjustment Date with respect to an
      Interest Period (provided that if an Interest Period shall exceed three
      months, the interest must be paid every three months, commencing three
      months from the beginning of such Interest Period).

      (d) Canadian Swing Loans.

                                       37
<PAGE>

            (i) Canadian CAD Swing Loans. Canadian Borrower shall pay interest
      to Canadian Funding Agent, for the sole benefit of the Canadian Swing Line
      Lender (and any Canadian Lender that shall have purchased a participation
      in such Canadian CAD Swing Loan), on the unpaid principal amount of each
      Canadian CAD Swing Loan outstanding from time to time from the date
      thereof until paid at the Canadian CAD Base Rate. Interest on each
      Canadian CAD Swing Loan shall be payable on the Swing Loan Maturity Date
      applicable thereto. Each Canadian CAD Swing Loan shall bear interest for a
      minimum of one day.

            (ii) Canadian USD Swing Loans. Canadian Borrower shall pay interest
      to Canadian Funding Agent, for the sole benefit of the Canadian Swing Line
      Lender (and any Canadian Lender that shall have purchased a participation
      in such Canadian USD Swing Loan), on the unpaid principal amount of each
      Canadian USD Swing Loan outstanding from time to time from the date
      thereof until paid at the Canadian USD Base Rate. Interest on each
      Canadian USD Swing Loan shall be payable on the Swing Loan Maturity Date
      applicable thereto. Each Canadian USD Swing Loan shall bear interest for a
      minimum of one day.

      (e) Default Rate. Anything herein to the contrary notwithstanding, if an
Event of Default shall occur, upon the election of the Required Lenders, (i) the
principal of each Loan and the unpaid interest thereon shall bear interest,
until paid, at the Default Rate, (ii) the fee for the aggregate undrawn face
amount of all issued and outstanding Letters of Credit shall be increased by two
percent (2%) in excess of the rate otherwise applicable thereto, and (iii) in
the case of any other amount then due and owing from Borrowers hereunder or
under any other Loan Document, such amount shall bear interest at the Default
Rate until paid; provided that, during an Event of Default under Section 7.10
hereof, the applicable Default Rate shall apply without any election or action
on the part of Agent or any Lender.

      (f) Limitation on Interest.

            (i) Generally. In no event shall the rate of interest hereunder
      exceed the maximum rate allowable by law. Notwithstanding anything to the
      contrary contained in any Loan Document, the interest paid or agreed to be
      paid under the Loan Documents shall not exceed the maximum rate of
      non-usurious interest permitted by applicable Law (the "Maximum Rate"). If
      Agent or any Lender shall receive interest in an amount that exceeds the
      Maximum Rate, the excess interest shall be applied to the principal of the
      Loans or, if it exceeds such unpaid principal, refunded to the applicable
      Borrower. In determining whether the interest contracted for, charged, or
      received by Agent or a Lender exceeds the Maximum Rate, such Person may,
      to the extent permitted by applicable law, (A) characterize any payment
      that is not principal as an expense, fee, or premium rather than interest,
      (B) exclude voluntary prepayments and the effects thereof, and (C)
      amortize, prorate, allocate, and spread in equal or unequal parts the
      total amount of interest throughout the contemplated term of the
      Obligations.

                                       38
<PAGE>

            (ii) Canadian Interest. If any provision of this Agreement or any
      other Loan Document would obligate Canadian Borrower to make any payment
      of interest or other amount payable to (including for the account of) any
      Canadian Lender in an amount, or calculated at a rate, that would be
      prohibited by law or would result in a receipt by such Canadian Lender of
      interest at a criminal rate (as such terms are construed under the
      Criminal Code (Canada)) then, notwithstanding such provision, such amount
      or rate shall be deemed to have been adjusted with retroactive effect to
      the maximum amount or rate of interest, as the case may be, as would not
      be so prohibited by law or so result in a receipt by such Canadian Lender
      of interest at a criminal rate, such adjustment to be effected, to the
      extent necessary, as follows: (A) first, by reducing the amount or rate of
      interest required to be paid to such Canadian Lender under this Article
      II; and (B) thereafter, by reducing any fees, commissions, premiums and
      other amounts required to be paid to such Canadian Lender that would
      constitute interest for purposes of Section 347 of the Criminal Code
      (Canada). Notwithstanding the foregoing, and after giving effect to all
      adjustments contemplated thereby, if a Canadian Lender shall have received
      an amount in excess of the maximum amount permitted by that section of the
      Criminal Code (Canada), then the Canadian Lender shall pay an amount equal
      to such excess to Canadian Borrower. Any amount or rate of interest
      referred to in this Article II with respect to the Canadian Commitment
      shall be determined in accordance with generally accepted actuarial
      practices and principles as an effective annual rate of interest over the
      term that the Canadian Commitment remains outstanding on the assumption
      that any charges, fees or expenses that fall within the meaning of
      "interest" (as defined in the Criminal Code (Canada)) shall, if they
      relate to a specific period of time, be pro-rated over that period of time
      and otherwise be pro-rated over the Commitment Period and, in the event of
      a dispute, a certificate of a Fellow of the Canadian Institute of
      Actuaries appointed by Agent shall be conclusive for the purposes of such
      determination.

      Section 2.5. Evidence of Indebtedness.

      (a) US Revolving Loans. Upon the request of a US Lender, to evidence the
obligation of US Borrower to repay the US Base Rate Loans and US Fixed Rate
Loans made by such US Lender and to pay interest thereon, US Borrower shall
execute a US Revolving Credit Note in the form of the attached Exhibit A,
payable to the order of such US Lender in the principal amount of its US
Revolving Credit Commitment, or, if less, the aggregate unpaid principal amount
of US Revolving Loans made by such US Lender; provided, however, that failure of
a US Lender to request a Revolving Credit Note shall in no way detract from US
Borrower's obligations to such US Lender hereunder.

      (b) US Swing Loan. The obligation of US Borrower to repay the US Swing
Loans and to pay interest thereon shall be evidenced by a US Swing Line Note of
US Borrower in the form of the attached Exhibit B, and payable to the order of
the US Swing Line Lender in the principal amount of the US Swing Line
Commitment, or, if less, the aggregate unpaid principal amount of US Swing Loans
made by the US Swing Line Lender.

      (c) Canadian Revolving Loans. Upon the request of Canadian Lender, to
evidence the obligation of Canadian Borrower to repay the Canadian Base Rate
Loans and the Canadian

                                       39
<PAGE>

Fixed Rate Loans made by such Canadian Lender and to pay interest thereon,
Canadian Borrower shall execute a Canadian Revolving Credit Note in the form of
the attached Exhibit C, payable to the order of such Canadian Lender in the
principal amount of its Canadian Revolving Credit Commitment, or, if less, the
aggregate unpaid principal amount of Canadian Revolving Loans made by such
Canadian Lender; provided, however, that failure of a Canadian Lender to request
a Canadian Revolving Credit Note shall in no way detract from Canadian
Borrower's obligations to such Canadian Lender hereunder.

      (d) Canadian Swing Loan. The obligation of Canadian Borrower to repay the
Canadian Swing Loans and to pay interest thereon shall be evidenced by a
Canadian Swing Line Note of Canadian Borrower in the form of the attached
Exhibit D, and payable to the order of the Canadian Swing Line Lender in the
principal amount of the Canadian Swing Line Commitment, or, if less, the
aggregate unpaid principal amount of Canadian Swing Loans made by the Canadian
Swing Line Lender.

      Section 2.6. Notice of Credit Event; Funding of Loans.

      (a) Notice of Credit Event.

            (i) Generally. US Borrower, through an Authorized Officer, (or US
      Borrower or Canadian Borrower with respect to Canadian Revolving Loans and
      Canadian Swing Loans) shall provide to Agent (and, in addition, to
      Canadian Funding Agent with respect to Canadian Revolving Loans and
      Canadian Swing Loans) a Notice of Loan prior to (A) 11:00 A.M. (Eastern
      time) on the proposed date of borrowing or conversion of any US Base Rate
      Loan, (B) 11:00 A.M. (Eastern time) three Business Days prior to the
      proposed date of borrowing, conversion or continuation of any US
      Eurodollar Loan, (C) 10:00 A.M. (Eastern time) three Business Days prior
      to the proposed date of borrowing of any Alternate Currency Loan, (D)
      11:00 A.M. (Eastern time) on the proposed date of borrowing of any Swing
      Loan, (E) 11:00 A.M. (Eastern time) on the proposed date of borrowing or
      conversion of any Canadian Base Rate Loan, and (F) 11:00 A.M. (Eastern
      time) three Business Days prior to the proposed date of borrowing,
      conversion or continuation of any Canadian Fixed Rate Loan. US Borrower
      shall comply with the notice provisions set forth in Section 2.2(b) hereof
      with respect to Letters of Credit.

            (ii) Overdraft Notice. Notwithstanding the provisions of subsection
      (i) of this Section 2.6(a) and Section 4.1 hereof requiring a Notice of
      Loan, should an overdraft occur in any account held by Canadian Borrower
      at Canadian Funding Agent, Canadian Borrower shall be deemed to have
      requested, and the Canadian Funding Agent shall be deemed to have made, a
      Canadian Swing Loan (in Dollars or Canadian Dollars, depending on the
      currency of the item causing the overdraft) on each date any overdraft
      shall be outstanding in an amount equal to such overdraft (irrespective of
      the amount limitation set forth in subsection (d)(vii) of this Section
      2.6). Canadian Funding Agent shall promptly (but in no event later than
      the next Business Day) notify Agent in writing of such Swing Loan.

                                       40
<PAGE>

      (b) Funding of Loans. Agent shall notify the US Lenders and Canadian
Funding Agent shall notify the Canadian Lenders, as appropriate, depending on
whether US Revolving Loans or Canadian Revolving Loans are requested, of the
date, amount, type of currency and Interest Period (if applicable) promptly upon
the receipt of a Notice of Loan, and, in any event, by 2:00 P.M. (Eastern time
(except with respect to Canadian Base Rate Loans, which shall be by 12:00 noon
(Eastern time)) on the date such Notice of Loan is received. On the date that
the Credit Event set forth in such Notice of Loan is to occur, each such
Applicable Lender shall provide to Agent (or the Canadian Funding Agent, as
appropriate) not later than 3:00 P.M. (Eastern time), the amount in Dollars, or,
with respect to an Alternate Currency, in the applicable Alternate Currency, or,
with respect to the Canadian Commitment, in Dollars or Canadian Dollars, in
federal or other immediately available funds, required of it. If Agent (or the
Canadian Funding Agent) shall elect to advance the proceeds of such Loan prior
to receiving funds from such Lender, Agent (or the Canadian Funding Agent, as
appropriate) shall have the right, upon prior notice to the appropriate
Borrower, to debit any account of the appropriate Borrower or otherwise receive
such amount from the appropriate Borrower, on demand, in the event that such
Lender shall fail to reimburse Agent (or the Canadian Funding Agent, as
appropriate) in accordance with this subsection. Agent (or the Canadian Funding
Agent, as appropriate) shall also have the right to receive interest from such
Lender at the Federal Funds Effective Rate (or cost of funds with respect to the
Canadian Funding Agent) in the event that such Lender shall fail to provide its
portion of the Loan on the date requested and Agent (or the Canadian Funding
Agent, as appropriate) shall elect to provide such funds.

      (c) Conversion of Loans. At the request of US Borrower to Agent, subject
to the notice and other provisions of this Section 2.6, the US Lenders shall
convert a US Base Rate Loan to one or more US Eurodollar Loans at any time and
shall convert a US Eurodollar Loan to a US Base Rate Loan on any Interest
Adjustment Date applicable thereto. US Swing Loans may be converted by the US
Swing Line Lender to US Revolving Loans in accordance with Section 2.2(c)(ii)
hereof. At the request of Canadian Borrower to Canadian Funding Agent (with a
copy to Agent), subject to the notice and other provisions of this Section 2.6,
the Canadian Lenders shall convert a Canadian Base Rate Loan to one or more CAD
CDOR Loans at any time and shall convert a CAD CDOR Loan to a Canadian Base Rate
Loan on any Interest Adjustment Date applicable thereto. Canadian Swing Loans
may be converted by the Canadian Swing Line Lender to Canadian Revolving Loans
in accordance with Section 2.3(b)(ii) hereof. No Alternate Currency Loan may be
converted to a US Base Rate Loan or US Eurodollar Loan and no US Base Rate Loan
or US Eurodollar Loan may be converted to an Alternate Currency Loan. No
Canadian Eurodollar Loan may be converted to a Canadian Base Rate Loan or CAD
CDOR Loan and no Canadian Base Rate Loan or CAD CDOR Loan may be converted to a
Canadian Eurodollar Loan.

      (d) Minimum Amount. Each request for:

            (i) a US Base Rate Loan shall be in an amount of not less than One
      Million Dollars ($1,000,000), increased by increments of One Hundred
      Thousand Dollars ($100,000);

                                       41
<PAGE>

            (ii) a US Fixed Rate Loan shall be in an amount (or, with respect to
      an Alternate Currency Loan, the Dollar Equivalent (or, in the discretion
      of Agent, such approximately comparable amount as shall result in a
      rounded number)) of not less than Two Million Five Hundred Thousand
      Dollars ($2,500,000), increased by increments of Five Hundred Thousand
      Dollars ($500,000) (or, with respect to an Alternate Currency Loan, the
      Dollar Equivalent (in the discretion of Agent, approximately comparable as
      shall result in a rounded number));

            (iii) a US Swing Loan shall be in an amount not less than One
      Hundred Thousand Dollars ($100,000), increased by increments of Five
      Thousand Dollars ($5,000);

            (iv) a Canadian Base Rate Loan shall be in an amount of not less
      than the CAD Equivalent of One Million Dollars ($1,000,000), increased by
      increments of One Hundred Thousand Dollars ($100,000) (or, in the
      discretion of Canadian Funding Agent, such approximately comparable amount
      as shall result in a rounded number of CAD);

            (v) a Canadian Eurodollar Loan shall be in an amount of not less
      than One Million Dollars ($1,000,000), increased by increments of One
      Hundred Thousand Dollars ($100,000);

            (vi) a CAD CDOR Loan shall be in an amount of not less than the CAD
      Equivalent of Two Million Five Hundred Thousand Dollars ($2,500,000),
      increased by increments of Five Hundred Thousand Dollars ($500,000) (or,
      in the discretion of Canadian Funding Agent, such approximately comparable
      amount as shall result in a rounded number of CAD); and

            (vii) a Canadian Swing Loan shall be in an amount not less than One
      Hundred Thousand Dollars ($100,000) (or the CAD Equivalent for Canadian
      CAD Swing Loans), increased by increments of Five Thousand Dollars
      ($5,000) (or the CAD Equivalent for Canadian CAD Swing Loans) (or, in the
      discretion of Canadian Funding Agent, such approximately comparable amount
      as shall result in a rounded number of CAD).

      (e) Interest Periods. At no time shall US Borrower request that US Fixed
Rate Loans be outstanding for more than ten different Interest Periods. At no
time shall Canadian Borrower request that Canadian Fixed Rate Loans be
outstanding for more than six different Interest Periods.

      Section 2.7. Payment on Loans and Other Obligations.

      (a) Payments Generally. Each payment made hereunder by a Credit Party
shall be made without any offset, abatement, recoupment, counterclaim,
withholding or reduction whatsoever.

      (b) Payments in Canadian Dollars to Canadian Lenders. With respect to any
Canadian CAD Base Rate Loan, CAD CDOR Loan or Canadian CAD Swing Loan, all
payments

                                       42
<PAGE>

(including prepayments) to the Canadian Lenders of the principal of or interest
on such Canadian Revolving Loan or other payment shall be made in Canadian
Dollars. All such payments shall be remitted by Canadian Borrower to the
Canadian Funding Agent at the Designated Lending Office, for the account of the
Canadian Lenders, not later than 1:00 P.M. (Eastern time) on the due date
thereof in same day funds. Any payments received by the Canadian Funding Agent
after 1:00 P.M. (Eastern time) shall be deemed to have been made and received on
the next Business Day.

      (c) Payments in Dollars to Canadian Lenders. With respect to any Canadian
USD Base Rate Loan, Canadian Eurodollar Loan or Canadian USD Swing Loan, all
payments (including prepayments) to the Canadian Lenders of the principal of or
interest on such Loan or other payment shall be made in Dollars. All such
payments shall be remitted by Canadian Borrower to the Canadian Funding Agent at
the Designated Lending Office, for the account of the Canadian Lenders, not
later than 1:00 P.M. (Eastern time) on the due date thereof in same day funds.
Any payments received by the Canadian Funding Agent after 1:00 P.M. (Eastern
time) shall be deemed to have been made and received on the next Business Day.

      (d) Payments in Alternate Currency to US Lenders. With respect to any
Alternate Currency Loan or any Alternate Currency Letter of Credit, all payments
(including prepayments) to any US Lender of the principal of or interest on such
Alternate Currency Loan or Alternate Currency Letter of Credit shall be made in
the same Alternate Currency as the original US Revolving Loan or Letter of
Credit. All such payments shall be remitted by US Borrower to Agent, at the
address of Agent for notices referred to in Section 10.4 hereof, (or at such
other office or account as designated in writing by Agent to US Borrower) for
the account of the US Lenders (or the Fronting Lender) not later than 11:00 A.M.
(Eastern time) on the due date thereof in same day funds. Any payments received
by Agent after 11:00 A.M. (Eastern time) shall be deemed to have been made and
received on the next Business Day.

      (e) Payments in Dollars to Agent or US Lenders. With respect to any US
Revolving Loan (other than an Alternate Currency Loan), and the utilization fee
described in Section 2.9(b) hereof, all payments (including prepayments) to
Agent of the principal of or interest on such Loan or other payment, including
but not limited to principal, interest, fees or any other amount owed by US
Borrower (or Canadian Borrower with respect to its portion of the utilization
fee described in Section 2.9(b) hereof) under this Agreement, shall be made in
Dollars. All payments described in this subsection (e) shall be remitted to
Agent at the address of Agent for notices referred to in Section 10.4 hereof for
the account of the US Lenders (or the Fronting Lender, the US Swing Line Lender
or, with respect to the utilization fees described in Section 2.9(b) hereof, the
Canadian Lenders, as appropriate) not later than 11:00 A.M. (Eastern time) on
the due date thereof in immediately available funds. Any such payments received
by Agent after 11:00 A.M. (Eastern time) shall be deemed to have been made and
received on the next Business Day.

      (f) Payments to Lenders. Upon receipt by Agent or the Canadian Funding
Agent of payments hereunder, Agent (or the Canadian Funding Agent, as
appropriate) shall immediately distribute to the Applicable Lenders (except with
respect to Swing Loans, which shall be paid to the US Swing Line Lender or the
Canadian Swing Line Lender, as appropriate) their respective

                                       43
<PAGE>

ratable share, if any, of the amount of principal, interest, and facility and
other fees received for the account of such Lender. Payments received by Agent
(or the Canadian Funding Agent) in Dollars shall be delivered to the appropriate
Lenders in Dollars in immediately available funds and payments received by Agent
(or the Canadian Funding Agent) in Canadian Dollars shall be delivered to the
Canadian Lenders in Canadian Dollars in same day funds; provided that, if Agent
(or the Canadian Funding Agent, as appropriate) receives a payment in a currency
other than the currency in which the underlying obligation was made, Agent (or
the Canadian Funding Agent, as appropriate) shall have the right, in its sole
discretion, to convert such currency into its CAD Equivalent or Dollar
Equivalent, as applicable. Notwithstanding the preceding sentence to the
contrary, payments received by Agent in any Alternate Currency shall be
delivered to the US Lenders in such Alternate Currency in same day funds and
payments received by Canadian Funding Agent in Dollars shall be delivered to the
Canadian Lenders in Dollars in same day funds. Each Lender shall record, as
appropriate, any principal, interest or other payment, the principal amounts of
US Base Rate Loans, US Fixed Rate Loans, Canadian Base Rate Loans and Canadian
Fixed Rate Loans, the type of currency for each Loan, all prepayments and the
applicable dates, including Interest Periods, with respect to the Loans made,
and payments received by such Lender, by such method as such Lender may
generally employ; provided, however, that failure to make any such entry shall
in no way detract from the obligations of Borrowers under this Agreement or any
Note. The aggregate unpaid amount of Loans, types of Loans, Interest Periods and
similar information with respect to the Loans and Letters of Credit set forth on
the records of Agent and Canadian Funding Agent shall be rebuttably presumptive
evidence with respect to such information, including the amounts of principal,
interest and fees owing to each Lender.

      (g) Timing of Payments. Whenever any payment to be made hereunder,
including, without limitation, any payment to be made on any Loan, shall be
stated to be due on a day that is not a Business Day, such payment shall be made
on the next Business Day and such extension of time shall in each case be
included in the computation of the interest payable on such Loan; provided,
however, that, with respect to any Fixed Rate Loan, if the next Business Day
shall fall in the succeeding calendar month, such payment shall be made on the
preceding Business Day and the relevant Interest Period shall be adjusted
accordingly.

      Section 2.8. Prepayment.

      (a) Right to Prepay. Borrowers shall have the right at any time or from
time to time to prepay, on a pro rata basis for all of the Applicable Lenders,
as appropriate, all or any part of the principal amount of the Loans then
outstanding to such Lenders from such Borrowers, as designated by Borrowers.
Such payment shall include interest accrued and unpaid on the amount so prepaid
to the date of such prepayment and any amount payable under Article III hereof
with respect to the amount being prepaid. US Borrower shall have the right, at
any time or from time to time, to prepay, for the benefit of the US Swing Line
Lender (and any US Lender that has purchased a participation in such US Swing
Loan), all or

                                       44
<PAGE>

any part of the principal amount of the US Swing Loans then outstanding, as
designated by US Borrower, plus interest accrued on the amount so prepaid to the
date of such prepayment. Canadian Borrower shall have the right, at any time or
from time to time, to prepay, for the benefit of the Canadian Swing Line Lender
(and any Canadian Lender that has purchased a participation in such Canadian
Swing Loan), all or any part of the principal amount of the Canadian Swing Loans
then outstanding, as designated by Canadian Borrower, plus interest accrued on
the amount so prepaid to the date of such prepayment.

      (b) Notice of Prepayment. US Borrower shall give Agent irrevocable written
notice of prepayment of any US Base Rate Loan or US Swing Loan not later than
11:00 A.M. (Eastern time) on the Business Day such prepayment is to be made and
written notice of the prepayment of any US Fixed Rate Loan not later than 1:00
P.M. (Eastern time) three Business Days before the Business Day on which such
prepayment is to be made. Canadian Borrower shall give to the Canadian Funding
Agent (with a copy to Agent), irrevocable written notice of prepayment of any
Canadian Base Rate Loan or Canadian Swing Loan not later than 11:00 A.M.
(Eastern time) on the Business Day such prepayment is to be made and written
notice of the prepayment of any Canadian Fixed Rate Loan not later than 1:00
P.M. (Eastern time) three Business Days before the Business Day on which such
prepayment is to be made.

      (c) Minimum Amount. Other than in the case of a mandatory payment pursuant
to Section 2.11 or Article III hereof, each prepayment of (i) a US Eurodollar
Loan shall be in the principal amount of not less than Two Million Five Hundred
Thousand Dollars ($2,500,000), (ii) an Alternate Currency Loan shall be in the
principal amount of not less than the Dollar Equivalent of Two Million Five
Hundred Thousand Dollars ($2,500,000), (iii) a Swing Loan shall be in the
principal balance of such Swing Loan, (iv) a Canadian Eurodollar Loan shall be
in the principal amount of not less than Two Million Five Hundred Thousand
Dollars ($2,500,000), and (v) a CAD CDOR Loan shall be in the principal amount
of not less than Two Million Five Hundred Thousand Canadian Dollars (CAD
2,500,000).

      Section 2.9. Facility and Other Fees; Reduction of Commitment.

      (a) Facility Fee.

            (i) US Commitment. US Borrower shall pay to Agent, for the ratable
      account of the US Lenders, as a consideration for the US Commitment, a
      facility fee from the Closing Date to and including the last day of the
      Commitment Period, payable quarterly, at a rate per annum equal to (A) the
      Applicable Facility Fee Rate in effect on the payment date, times (B) the
      average daily Maximum US Revolving Amount in effect during such quarter.
      The facility fee shall be payable in arrears, on July 31, 2004 and on each
      Regularly Scheduled Payment Date thereafter, and on the last day of the
      Commitment Period.

            (ii) Canadian Commitment. Canadian Borrower shall pay to Canadian
      Funding Agent, for the ratable account of the Canadian Lenders, as a
      consideration for the Canadian Commitment, a facility fee from the Closing
      Date to and including the last day of the Commitment Period, payable
      quarterly, at a rate per annum equal to (A) the Applicable Facility Fee
      Rate in effect on the payment date, times (B) the average daily Maximum
      Canadian Revolving Amount in effect during such quarter. The facility fee
      shall be payable in arrears, on July 31, 2004 and on each Regularly
      Scheduled Payment Date thereafter, and on the last day of the Commitment
      Period.

                                       45
<PAGE>

      (b) Utilization Fee.

            (i) US Utilization Fee. For each day that the Revolving Credit
      Exposure exceeds fifty percent (50%) of the Total Commitment Amount, US
      Borrower shall pay to Agent, for the ratable account of the US Lenders
      based upon each US Lender's Overall Commitment Percentage, a utilization
      fee at a rate per annum equal to (A) the Revolving Credit Exposure on that
      day, times (B) the Applicable Utilization Fee Rate in effect on that date,
      times (C) the fraction represented by the Maximum US Revolving Amount as
      the numerator and the Total Commitment Amount as the denominator.

            (ii) Canadian Utilization Fee. For each day that the Revolving
      Credit Exposure exceeds fifty percent (50%) of the Total Commitment
      Amount, Canadian Borrower shall pay to Agent, for the ratable account of
      the Canadian Lenders based upon each Canadian Lender's Overall Commitment
      Percentage, a utilization fee at a rate per annum equal to (A) the
      Revolving Credit Exposure on that day, times (B) the Applicable
      Utilization Fee Rate in effect on that date, times (C) the fraction
      represented by the Maximum Canadian Revolving Amount as the numerator and
      the Total Commitment Amount as the denominator.

The utilization fee shall be payable in arrears for any fiscal quarter for which
a utilization fee is payable, commencing July 31, 2004, and on each Regularly
Scheduled Payment Date thereafter, and on the last day of the Commitment Period.

      (c) Agent Fee. US Borrower shall pay to Agent, for its sole benefit, the
fees set forth in the Agent Fee Letter.

      (d) Optional Reduction of Commitment.

            (i) US Commitment. US Borrower may at any time or from time to time
      permanently reduce in whole or ratably in part the US Commitment of the US
      Lenders hereunder to an amount not less than the then existing US
      Revolving Credit Exposure, by giving Agent not fewer than three Business
      Days notice of such reduction, provided that any such partial reduction
      shall be in an aggregate amount, for all of the US Lenders, of not less
      than Five Million Dollars ($5,000,000), increased by increments of One
      Million Dollars ($1,000,000). Agent shall promptly notify each US Lender
      of the date of each such reduction and such US Lender's proportionate
      share thereof. After each such reduction, the facility fees payable
      hereunder shall be calculated upon the Maximum US Revolving Amount as so
      reduced.

            (ii) Canadian Commitment. Canadian Borrower may at any time or from
      time to time permanently reduce in whole or ratably in part the Canadian
      Commitment of the Canadian Lenders hereunder to an amount not less than
      the then existing Canadian Revolving Exposure, by giving Agent not fewer
      than three Business Days notice of such reduction, provided that any such
      partial reduction shall be in an aggregate amount, for all of the Canadian
      Lenders, of not less than Five Million Canadian Dollars (CAD

                                       46
<PAGE>

      5,000,000), increased by increments of One Million Canadian Dollars (CAD
      1,000,000). Agent shall promptly notify each Canadian Lender of the date
      of each such reduction and such Canadian Lender's proportionate share
      thereof. After each such reduction, the facility fees payable hereunder
      shall be calculated upon the Maximum Canadian Revolving Amount as so
      reduced.

            (iii) Generally. If Borrowers reduce in whole the Commitment of the
      Lenders, on the effective date of such reduction (Borrowers having prepaid
      in full the unpaid principal balance, if any, of the Loans, together with
      all interest and facility and other fees accrued and unpaid), all of the
      Notes, if Notes have been issued, shall be delivered to Agent marked
      "Canceled" and Agent shall redeliver such Notes to Borrowers. Any partial
      reduction in the Total Commitment Amount shall be effective during the
      remainder of the Commitment Period. The US Commitment may not, at any
      time, be reduced to an amount less than the then existing amount of the
      Canadian Commitment.

      Section 2.10. Computation of Interest and Fees.

      (a) Generally. Interest on Loans and facility, utilization and other fees
and charges hereunder shall be computed on the basis of a year having three
hundred sixty (360) days and calculated for the actual number of days elapsed.

      (b) Interest Act (Canada). For purposes of disclosure pursuant to the
Interest Act (Canada), the annual rates of interest or fees to which the rates
of interest or fees provided in this Agreement and the other Loan Documents (and
stated herein or therein, as applicable, to be computed on the basis of a three
hundred sixty (360) day year or any other period of time less than a calendar
year) are equivalent to the rates so determined multiplied by the actual number
of days in the applicable calendar year and divided by three hundred sixty (360)
or such other period of time, respectively.

      Section 2.11. Mandatory Payment.

      (a) US Revolving Credit Commitment. If, at any time, the US Revolving
Credit Exposure shall exceed the Maximum US Revolving Amount as then in effect,
US Borrower shall, as promptly as practicable, but in no event later than the
next Business Day, prepay an aggregate principal amount of the US Revolving
Loans sufficient to bring the US Revolving Credit Exposure within the Maximum US
Revolving Amount.

      (b) US Swing Line Commitment. If, at any time, the US Swing Line Exposure
shall exceed the US Swing Line Commitment, US Borrower shall, as promptly as
practicable, but in no event later than the next Business Day, prepay an
aggregate principal amount of the US Swing Loans sufficient to bring the US
Swing Line Exposure within the US Swing Line Commitment.

      (c) Canadian Revolving Credit Commitment. If, at any time, the Canadian
Revolving Exposure shall exceed the Maximum Canadian Revolving Amount as then in
effect, Canadian Borrower shall, as promptly as practicable, but in no event
later than the next Business Day,

                                       47
<PAGE>

prepay an aggregate principal amount of the Canadian Revolving Loans sufficient
to bring the Canadian Revolving Exposure within the Maximum Canadian Revolving
Amount.

      (d) Canadian Swing Line Commitment. If, at any time, the Canadian Swing
Line Exposure shall exceed the Canadian Swing Line Commitment, Canadian Borrower
shall, as promptly as practicable, but in no event later than the next Business
Day, prepay an aggregate principal amount of the Canadian Swing Loans sufficient
to bring the Canadian Swing Line Exposure within the Canadian Swing Line
Commitment.

      (e) Total Commitment Amount. If, at any time, the Revolving Credit
Exposure shall exceed the Total Commitment Amount as then in effect, Borrowers
shall, as promptly as practicable, but in no event later than the next Business
Day, prepay an aggregate principal amount of the Loans sufficient to bring the
Revolving Credit Exposure within the Total Commitment Amount.

      Section 2.12. Appointment of US Borrower as Canadian Borrower's Agent.
Canadian Borrower hereby irrevocably appoints US Borrower as the borrowing agent
and attorney-in-fact for Canadian Borrower, which appointment shall remain in
full force and effect unless and until Agent shall have received prior written
notice signed by Canadian Borrower that such appointment has been revoked.
Canadian Borrower hereby irrevocably appoints and authorizes US Borrower (a) to
provide Agent and Canadian Funding Agent with all notices with respect to
Canadian Revolving Loans obtained for the benefit of Canadian Borrower and all
other notices and instructions under this Agreement, and (b) to take such action
as US Borrower deems appropriate on its behalf to obtain Canadian Revolving
Loans and to exercise such other powers as are reasonably incidental thereto to
carry out the purposes of this Agreement.

      Section 2.13. Waivers of Borrowers. In the event that any obligation of
any Borrower under this Agreement is deemed to be an agreement by such Borrower
to answer for the debt or default of another Credit Party, each Borrower
represents and warrants that (a) no representation has been made to such
Borrower as to the creditworthiness of such other Credit Party, and (b) such
Borrower has established adequate means of obtaining from such other Credit
Party on a continuing basis, financial or other information pertaining to such
other Credit Party's financial condition. Each Borrower expressly waives, except
as expressly required under this Agreement, diligence, demand, presentment,
protest and notice of every kind and nature whatsoever, and consents that Agent,
the Lenders and any other Credit Party may deal with each other in connection
with such obligations or otherwise, or alter any contracts now or hereafter
existing between them, in any manner whatsoever, including without limitation
the renewal, extension, acceleration or changes in time for payment of any such
obligations or in the terms or conditions of any security held. Agent and the
Lenders are hereby expressly given the right, at their option, to proceed in the
enforcement of any of the Obligations independently of any other remedy or
security they may at any time hold in connection with such obligations secured
and it shall not be necessary for Agent and the Lenders to proceed upon or
against or exhaust any other security or remedy before proceeding to enforce
their rights against such Borrower. Each Borrower further subordinates any right
of subrogation, reimbursement, exoneration, contribution, indemnification,
setoff or other recourse in respect of sums paid to Agent and the Lenders by any

                                       48
<PAGE>

other Credit Party. Anything herein to the contrary notwithstanding, Canadian
Borrower shall not at any time be liable for the Indebtedness of US Borrower
under this Agreement.

      Section 2.14. Extension of Commitment. Contemporaneously with the delivery
of the financial statements required pursuant to Section 5.3(b) hereof
(beginning with the financial statements for the fiscal year of US Borrower
ending April 30, 2005), US Borrower may deliver a Request for Extension,
requesting that the Lenders extend the maturity of the Commitment for an
additional year. Each such extension shall require the written consent of the
extending Lenders and shall be upon such terms and conditions as may be agreed
to by Agent, Borrowers and the extending Lenders; provided, however, that if all
of the Lenders shall not consent to the extension, (a) only the commitments of
the extending Lenders will be extended, and (b) US Borrower may solicit
commitments from other financial institutions to provide the commitments of the
Lenders not so extending, and provided further that the US Borrower may withdraw
the Request for Extension if fewer than all of the Lenders have extended. US
Borrower shall pay any attorneys' fees or other expenses of Agent in connection
with the documentation of any such extension, as well as such other fees as may
be agreed upon between Borrowers and Agent.

                   ARTICLE III. ADDITIONAL PROVISIONS RELATING
                  TO FIXED RATE LOANS; INCREASED CAPITAL; TAXES

      Section 3.1. Requirements of Law.

      (a) If, after the Closing Date, (i) the adoption of or any change in any
Requirement of Law or in the interpretation or application thereof or (ii) the
compliance by any Lender with any request or directive (whether or not having
the force of law) from any central bank or other Governmental Authority:

            (A) shall subject any Lender to any tax of any kind whatsoever with
      respect to this Agreement, any Letter of Credit or any Fixed Rate Loan
      made by it, or change the basis of taxation of payments to such Lender in
      respect thereof (except for Taxes and Excluded Taxes which are governed by
      Section 3.2 hereof);

            (B) shall impose, modify or hold applicable any reserve, special
      deposit, compulsory loan or similar requirement against assets held by,
      deposits or other liabilities in or for the account of, advances, loans or
      other extensions of credit by, or any other acquisition of funds by, any
      office of such Lender that is not otherwise included in the determination
      of the Eurodollar Rate, an Alternate Currency Rate or the CAD Fixed Rate;
      or

            (C) shall impose on such Lender any other condition;

and the result of any of the foregoing is to increase the cost to such Lender of
making, converting into, continuing or maintaining Fixed Rate Loans or issuing
or participating in Letters of Credit, or to reduce any amount receivable
hereunder in respect thereof, then, in any such case, US Borrower (and Canadian
Borrower if such Loan was made to Canadian Borrower) shall pay to

                                       49
<PAGE>

such Lender, promptly after receipt of a written request therefor, any
additional amounts necessary to compensate such Lender for such increased cost
or reduced amount receivable. If any Lender becomes entitled to claim any
additional amounts pursuant to this subsection (a), such Lender shall promptly
notify US Borrower or Canadian Borrower, as the case may be, (with a copy to
Agent or Canadian Funding Agent, as the case may be) of the event by reason of
which it has become so entitled.

      (b) If any Lender shall have determined that, after the Closing Date, the
adoption of or any change in any Requirement of Law regarding capital adequacy
or in the interpretation or application thereof or compliance by such Lender or
any corporation controlling such Lender with any request or directive regarding
capital adequacy (whether or not having the force of law) from any Governmental
Authority shall have the effect of reducing the rate of return on such Lender's
or such corporation's capital as a consequence of its obligations hereunder, or
under or in respect of any Letter of Credit, to a level below that which such
Lender or such corporation could have achieved but for such adoption, change or
compliance (taking into consideration the policies of such Lender or corporation
with respect to capital adequacy), then from time to time, upon submission by
such Lender to US Borrower or Canadian Borrower, as the case may be, (with a
copy to Agent or Canadian Funding Agent, as the case may be) of a written
request therefor (which shall include the method for calculating such amount,
which method shall be generally employed by such Lender and in the industry),
the appropriate Borrowers shall promptly pay or cause to be paid to such Lender
such additional amount or amounts as will compensate such Lender for such
reduction.

      (c) A certificate as to any additional amounts payable pursuant to this
Section 3.1, submitted by any Lender to US Borrower or Canadian Borrower, as the
case may be, (with a copy to Agent or Canadian Funding Agent, as the case may
be) shall be conclusive absent manifest or demonstrable error. In determining
any such additional amounts, such Lender may use any method of averaging and
attribution that it (in its reasonable discretion) shall deem applicable. The
obligations of Borrowers pursuant to this Section 3.1 shall survive the
termination of this Agreement for one hundred eighty (180) days and the payment
of the Loans and all other amounts payable hereunder.

      Section 3.2. Taxes.

      (a) All payments made by any Credit Party under any Loan Document shall be
made free and clear of, and without deduction or withholding for or on account
of any Taxes or Other Taxes. If any Taxes or Other Taxes are required to be
deducted or withheld from any amounts payable to Agent, the Canadian Funding
Agent or any Lender hereunder, the amounts so payable to Agent, the Canadian
Funding Agent or such Lender shall be increased to the extent necessary to yield
to Agent, the Canadian Funding Agent or such Lender (after deducting,
withholding and payment of all Taxes and Other Taxes) interest or any such other
amounts payable hereunder at the rates or in the amounts specified in the Loan
Documents.

      (b) In addition, the Credit Parties shall pay Taxes and Other Taxes to the
relevant Governmental Authority in accordance with applicable law.

                                       50
<PAGE>

      (c) Whenever any Taxes or Other Taxes are required to be withheld and paid
by a Credit Party, such Credit Party shall timely withhold and pay such taxes to
the relevant Governmental Authorities. As promptly as possible thereafter, such
Credit Party shall send to Agent for its own account or for the account of the
relevant Lender, as the case may be, a certified copy of an original official
receipt received by such Credit Party showing payment thereof or other evidence
of payment reasonably acceptable to Agent or such Lender. If such Credit Party
shall fail to pay any Taxes or Other Taxes when due to the appropriate
Governmental Authority or fails to remit to Agent the required receipts or other
required documentary evidence, such Credit Party shall indemnify Agent, the
Canadian Funding Agent and the appropriate Lenders on demand for any incremental
Taxes or Other Taxes paid or payable by Agent, the Canadian Funding Agent or
such Lender as a result of any such failure.

      (d) If any Lender shall be so indemnified by a Credit Party, such Lender
shall use reasonable efforts to obtain the benefits of any refund, deduction or
credit for any taxes or other amounts with respect to the amount paid by such
Credit Party and shall reimburse such Credit Party to the extent, but only to
the extent, that such Lender shall receive a refund with respect to the amount
paid by such Credit Party or an effective net reduction in taxes or other
governmental charges (including any taxes imposed on or measured by the total
net income of such Lender) of the United States or any state or subdivision or
any other Governmental Authority thereof by virtue of any such deduction or
credit, after first giving effect to all other deductions and credits otherwise
available to such Lender. If, at the time any audit of such Lender's income tax
return is completed, such Lender determines, based on such audit, that it shall
not have been entitled to the full amount of any refund reimbursed to such
Credit Party as aforesaid or that its net income taxes shall not have been
reduced by a credit or deduction for the full amount reimbursed to such Credit
Party as aforesaid, such Credit Party, upon request of such Lender, shall
promptly pay to such Lender the amount of the refund claimed to which such
Lender shall not have been so entitled, or the amount by which the net income
taxes of such Lender shall not have been so reduced, as the case may be.

      (e) Each US Lender that is not incorporated or organized in or under the
laws of the United States of America (or any state thereof) (a "Non-U.S.
Lender") shall deliver to US Borrower and Agent two copies of either U.S.
Internal Revenue Service Form W-8BEN or Form W-8ECI, or, in the case of a
Non-U.S. Lender claiming exemption from U.S. federal withholding tax under
Section 871(h) or 881(c) of the Code with respect to payments of "portfolio
interest", a statement with respect to such interest and a Form W-8BEN, or any
subsequent versions thereof or successors thereto, properly completed and duly
executed by such Non-U.S. Lender claiming complete exemption from, or a reduced
rate of, U.S. federal withholding tax on all payments by Credit Parties (other
than Canadian Borrower) under this Agreement and the other Loan Documents. Such
forms shall be delivered by each Non-U.S. Lender on or before the date it
becomes a party to this Agreement or such other Loan Document. In addition, each
Non-U.S. Lender shall deliver such forms or appropriate replacements promptly
upon the obsolescence or invalidity of any form previously delivered by such
Non-U.S. Lender. Each Non-U.S. Lender shall promptly notify US Borrower at any
time it determines that such Lender is no longer in a position to provide any
previously delivered certificate to US Borrower (or any other form of
certification adopted by the U.S. taxing authorities for such purpose).
Notwithstanding any other provision of this subsection (e), a Non-U.S. Lender
shall not be required to deliver any form

                                       51
<PAGE>

pursuant to this subsection (e) that such Non-U.S. Lender is not legally able to
deliver due to a change in applicable law after the date of this Agreement.

      (f) The agreements in this Section 3.2 shall survive the termination of
the Loan Documents and the payment of the Loans and all other amounts payable
hereunder.

      Section 3.3. Funding Losses. US Borrower, and Canadian Borrower to the
extent such activity involves a Canadian Fixed Rate Loan made to Canadian
Borrower, agree to indemnify each Applicable Lender, promptly after receipt of a
written request therefor, and to hold each Applicable Lender harmless from, any
loss or expense that such Lender may sustain or incur as a consequence of (a)
default by a Borrower in making a borrowing of, conversion into or continuation
of Fixed Rate Loans after such Borrower has given a notice requesting the same
in accordance with the provisions of this Agreement, (b) default by a Borrower
in making any prepayment of or conversion from Fixed Rate Loans after such
Borrower has given a notice thereof in accordance with the provisions of this
Agreement, (c) the making of a prepayment of a Fixed Rate Loan on a day that is
not the last day of an Interest Period applicable thereto, or (d) any conversion
of a Fixed Rate Loan to a US Base Rate Loan or Canadian Base Rate Loan pursuant
to Section 3.4 hereof on a day that is not the last day of an Interest Period
applicable thereto. Such indemnification shall be in an amount equal to the
excess, if any, of (i) the amount of interest that would have accrued on the
amounts so prepaid, or not so borrowed, converted or continued, for the period
from the date of such prepayment or of such failure to borrow, convert or
continue to the last day of such Interest Period (or, in the case of a failure
to borrow, convert or continue, the Interest Period that would have commenced on
the date of such failure) at the applicable rate of interest for such Loans
provided for herein (excluding, however, the Applicable Margin included therein,
if any) over (ii) the amount of interest (as reasonably determined by such
Lender) that would have accrued to such Lender on such amount by placing such
amount on deposit for a comparable period with leading banks in the appropriate
London interbank market (or Canadian market, if applicable), along with any
administration fee customarily charged by such Lender. A certificate as to any
amounts payable pursuant to this Section 3.3 submitted to US Borrower or
Canadian Borrower, as the case may be (with a copy to Agent (and Canadian
Funding Agent, as appropriate)), by any Lender shall be conclusive absent
manifest or demonstrable error. The obligations of Borrowers pursuant to this
Section 3.3 shall survive the termination of this Agreement and the payment of
the Loans and all other amounts payable hereunder.

      Section 3.4. Eurodollar Rate, Alternate Currency Rate or Canadian Fixed
Rate Lending Unlawful; Inability to Determine Rate.

         (a) If any Lender shall reasonably determine (which determination
shall, upon notice thereof to US Borrower or Canadian Borrower, as the case may
be (with a copy to Agent (and Canadian Funding Agent, as appropriate)), be
conclusive and binding on Borrowers) that, after the Closing Date, (i) the
introduction of or any change in or in the generally accepted interpretation of
any law makes it unlawful, or (ii) any Governmental Authority asserts that it is
unlawful, for such Lender to make or continue any Loan as, or to convert (if
permitted pursuant to this Agreement) any Loan into, a Fixed Rate Loan, the
obligations of such Lender to make, continue or convert any such Fixed Rate Loan
shall, upon such determination, be suspended until

                                       52
<PAGE>

such Lender shall notify Agent (and Canadian Funding Agent with respect to a
Canadian Revolving Loan) that the circumstances causing such suspension no
longer exist, and all outstanding Fixed Rate Loans payable to such Lender shall
automatically convert (if conversion is permitted under this Agreement) into a
US Base Rate Loan or Canadian Base Rate Loan, as the case may be, or be repaid
(if no conversion is permitted) at the end of the then current Interest Periods
with respect thereto or sooner, if required by law or such assertion.

      (b) If Agent, Canadian Funding Agent or the Required Lenders determine
that for any reason adequate and reasonable means do not exist for determining
the Eurodollar Rate, Alternate Currency Rate or CAD Fixed Rate for any requested
Interest Period with respect to a proposed Fixed Rate Loan, or that the
Eurodollar Rate, Alternate Currency Rate or CAD Fixed Rate for any requested
Interest Period with respect to a proposed Fixed Rate Loan does not adequately
and fairly reflect the cost to the applicable Lenders of funding such Loan,
Agent or Canadian Funding Agent, as the case may be, will promptly so notify US
Borrower, or Canadian Borrower, as the case may be, and each applicable Lender.
Thereafter, the obligation of the applicable Lenders to make or maintain such
Fixed Rate Loan shall be suspended until Agent (upon the instruction of the
Required Lenders) revokes such notice. Upon receipt of such notice, US Borrower,
or Canadian Borrower, as the case may be, may revoke any pending request for a
borrowing of, conversion to or continuation of such Fixed Rate Loan or, failing
that, will be deemed to have converted such request into a request for a
borrowing of a US Base Rate Loan or Canadian Base Rate Loan, as the case may be,
in the amount specified therein.

      Section 3.5. Replacement of Lenders. US Borrower or Canadian Borrower, as
the case may be, shall be permitted to replace any Lender that requests
reimbursement for amounts owing pursuant to Section 3.1 or 3.2(a), or asserts
its inability to make a Fixed Rate Loan pursuant to Section 3.4 hereof; provided
that (a) such replacement does not conflict with any Requirement of Law, (b) no
Default or Event of Default shall have occurred and be continuing at the time of
such replacement, (c) prior to any such replacement, such Lender shall have
taken no action to select a different lending office for such Lender so as to
eliminate the continued need for payment of amounts owing pursuant to Section
3.1 or 3.2(a) or, if it has taken any action, such request has still been made,
(d) the replacement financial institution shall purchase, at par, all Loans and
other amounts owing to such replaced Lender on or prior to the date of
replacement and assume all commitments and obligations of such replaced Lender,
(e) Borrowers shall be liable to such replaced Lender under Section 3.3 if any
Fixed Rate Loan owing to such replaced Lender shall be purchased other than on
the last day of the Interest Period relating thereto, (f) the replacement
financial institution, if not already a Lender, shall be reasonably satisfactory
to Agent or Canadian Funding Agent, as the case may be, (g) the replaced Lender
shall be obligated to make such replacement in accordance with the provisions of
Section 10.10 hereof (provided that Borrowers (or the succeeding Lender, if such
Lender is willing) shall be obligated to pay the assignment fee referred to
therein), and (h) until such time as such replacement shall be consummated,
Borrowers shall pay all additional amounts (if any) required pursuant to Section
3.1 or 3.2(a), as the case may be.

                        ARTICLE IV. CONDITIONS PRECEDENT

                                       53
<PAGE>

      Section 4.1. Conditions to Each Credit Event. The obligation of the
Lenders, the Fronting Lender, the US Swing Line Lender and the Canadian Swing
Line Lender to participate in any Credit Event shall be conditioned, in the case
of each Credit Event, upon the following:

      (a) all conditions precedent as listed in Section 4.2 hereof required to
be satisfied prior to the first Credit Event shall have been satisfied or waived
in writing prior to or as of the first Credit Event;

      (b) US Borrower (or Canadian Borrower as provided in Section 2.6(a)
hereof) shall have submitted a Notice of Loan (or with respect to a Letter of
Credit, complied with the provisions of Section 2.2(b) hereof) and otherwise
complied with Section 2.6 hereof;

      (c) no Default or Event of Default shall then exist or immediately after
the Credit Event would exist; and

      (d) each of the representations and warranties contained in Article VI
hereof shall be true in all material respects as if made on and as of the date
of the Credit Event, except to the extent that any thereof expressly relate to
an earlier date.

Each request by US Borrower or Canadian Borrower for a Credit Event shall be
deemed to be a representation and warranty by Borrowers as of the date of such
request as to the satisfaction of the conditions precedent specified in
subsections (c) and (d) above.

      Section 4.2. Conditions to the First Credit Event. The obligation of the
Lenders, the Fronting Lender, the US Swing Line Lender and the Canadian Swing
Line Lender to participate in the first Credit Event is subject to Borrowers
satisfying each of the following conditions prior to or concurrently with such
Credit Event:

      (a) Notes. US Borrower shall have executed and delivered to each US Lender
requesting a US Revolving Credit Note such US Lender's US Revolving Credit Note
and shall have executed and delivered to US Swing Line Lender the US Swing Line
Note. Canadian Borrower shall have executed and delivered to each Canadian
Lender requesting a Canadian Revolving Credit Note such Canadian Lender's
Canadian Revolving Credit Note and shall have executed and delivered to Canadian
Swing Line Lender the Canadian Swing Line Note.

      (b) Guaranties of Payment. MIX shall have executed and delivered to Agent
a Guaranty of Payment; and US Borrower shall have executed and delivered to
Agent the Parent Guaranty of Payment.

      (c) Officer's Certificate, Resolutions, Organizational Documents. Each
Credit Party shall have delivered to Agent an officer's certificate (or
comparable domestic or foreign documents) certifying the names of the officers
of such Credit Party authorized to sign the Loan Documents, together with the
true signatures of such officers and certified copies of (i) the resolutions of
the board of directors (or comparable domestic or foreign documents) of such
Credit Party evidencing approval of the execution and delivery of the Loan
Documents and the

                                       54
<PAGE>

execution of other Related Writings to which such Credit Party is a party, and
(ii) the Organizational Documents of such Credit Party.

      (d) Good Standing and Full Force and Effect Certificates. Borrowers shall
have delivered to Agent a good standing certificate or full force and effect
certificate (or comparable domestic or foreign document), for each Credit Party,
issued on or about the Closing Date by the Secretary of State in the state where
such Credit Party is incorporated or formed (or appropriate foreign official).

      (e) Legal Opinion. Borrowers shall have delivered to Agent an opinion of
counsel for each Credit Party (which, with respect to US Borrower and MIX, may
be the General Counsel of US Borrower), in form and substance reasonably
satisfactory to Agent and the Lenders.

      (f) Agent Fee Letter, Closing Fee Letter and Other Fees. US Borrower shall
have (i) executed and delivered to Agent the Agent Fee Letter and paid to Agent,
for its sole account, the fees stated therein, (ii) executed and delivered to
Agent the Closing Fee Letter and paid to Agent, for the benefit of the Lenders,
the fees stated therein, and (iii) paid all legal fees and expenses of Agent in
connection with the preparation and negotiation of the Loan Documents invoiced
on or prior to the date hereof.

      (g) Lien Searches.

            (i) US Searches. With respect to the property owned or leased by US
      Borrower and MIX, US Borrower shall have caused to be delivered to Agent
      (A) the results of Uniform Commercial Code lien searches, satisfactory to
      Agent and the Lenders, (B) the results of federal and state tax lien and
      judicial lien searches, satisfactory to Agent and the Lenders, and (C)
      Uniform Commercial Code termination statements reflecting termination of
      all financing statements previously filed by any Person and not expressly
      permitted pursuant to Section 5.9 hereof.

            (ii) Canadian Searches. With respect to property owned or leased by
      Canadian Borrower, Canadian Borrower shall have caused to be delivered to
      Agent the results of searches conducted under the Personal Property
      Security Act in effect in each jurisdiction in Canada in which a financing
      statement could perfect an interest in assets of any Credit Party
      organized or incorporated in Canada (collectively, the "PPSA"), the
      Register of Personal and Movable Real Rights (Quebec), Execution Acts in
      relevant jurisdictions, Bank Act (Canada), Bankruptcy and Insolvency Act
      (Canada) and under applicable corporate and partnership statutes then in
      effect in relevant jurisdictions in Canada, all satisfactory to Agent and
      the Lenders.

      (h) Note Purchase Agreements. US Borrower shall have provided to Agent
copies of each of the Note Purchase Agreements and amendments thereto, and the
other loan documents executed in connection therewith, certified by a Financial
Officer as complete.

                                       55
<PAGE>

      (i) Closing Certificate. Borrowers shall have delivered to Agent and the
Lenders an officer's certificate certifying that, as of the Closing Date, (i)
all conditions precedent set forth in this Article IV have been satisfied or
waived, (ii) no Default or Event of Default exists nor immediately after the
making of the first Loan or the issuance of the first Letter of Credit will
exist, and (iii) each of the representations and warranties contained in Article
VI hereof are true and correct in all material respects as of the Closing Date.

      (j) Letter of Direction. Borrowers shall have delivered to Agent a letter
of direction authorizing Agent, on behalf of the Lenders, to disburse the
proceeds of the Loans, which includes the transfer of funds under this Agreement
and wire instructions setting forth the locations to which such funds shall be
sent.

      (k) No Material Adverse Change. No material adverse change, in the opinion
of Agent, shall have occurred in the financial condition, operations or
prospects of the Companies, taken as a whole, since April 30, 2004.

      (l) Miscellaneous. Borrowers shall have provided to Agent, Canadian
Funding Agent and the Lenders such other items and shall have satisfied such
other conditions as may be reasonably required by Agent, Canadian Funding Agent
or the Lenders.

                              ARTICLE V. COVENANTS

      Section 5.1. Insurance. Each Company shall (a) maintain insurance to such
extent and against such hazards and liabilities as is commonly maintained by
Persons similarly situated; and (b) within ten days of any Lender's written
request, furnish to such Lender such information about such Company's insurance
as that Lender may from time to time reasonably request, which information shall
be prepared in form and detail satisfactory to such Lender.

      Section 5.2. Money Obligations. Each Company shall pay in full (a) prior
in each case to the date when penalties would attach, all taxes, assessments and
governmental charges and levies (except only those so long as and to the extent
that the same shall be contested in good faith by appropriate and timely
proceedings and for which adequate provisions have been established in
accordance with GAAP) for which it may be or become liable or to which any or
all of its properties may be or become subject; (b) all of its material wage
obligations to its employees in compliance with the Fair Labor Standards Act (29
U.S.C. Sections 206-207) or any comparable provisions, including those under
foreign laws with respect to employee source deductions, obligations and
employer obligations to its employees; and (c) all of its other material
obligations calling for the payment of money (except only those so long as and
to the extent that the same shall be contested in good faith and for which
adequate provisions have been established in accordance with GAAP) before such
payment becomes overdue, except in each case of (a), (b) and (c), as would not
have a Material Adverse Effect.

      Section 5.3. Financial Statements and Information.

                                       56
<PAGE>

      (a) Quarterly Financials. Borrowers shall deliver to Agent and the
Lenders, within forty-five (45) days after the end of each of the first three
quarter-annual periods of each fiscal year of US Borrower, balance sheets of the
Companies as of the end of such period and statements of income (loss), changes
in stockholders' equity and cash flow for the quarter and fiscal year to date
periods, all prepared on a Consolidated basis, in accordance with GAAP, and in
form and detail satisfactory to Agent and the Lenders and certified by a
Financial Officer of US Borrower, it being understood and agreed that delivery
of US Borrower's 10-Q financial statements prepared in compliance with the
requirements hereof within the time period specified above shall be deemed to
satisfy the requirements of this subsection (a).

      (b) Annual Audit Report. Borrowers shall deliver to Agent and the Lenders,
within ninety (90) days after the end of each fiscal year of US Borrower, an
annual audit report of the Companies for that year prepared on a Consolidated
basis, in accordance with GAAP, and in form and detail satisfactory to Agent and
the Lenders and certified by an independent public accountant reasonably
satisfactory to Agent, which report shall include balance sheets and statements
of income (loss), changes in stockholders' equity and cash-flow for that period,
it being understood and agreed that delivery of US Borrower's 10-K financial
statements prepared in compliance with the requirements hereof within the time
period specified above shall be deemed to satisfy the requirements of this
subsection (b).

      (c) Compliance Certificate. Borrowers shall deliver to Agent and the
Lenders, concurrently with the delivery of the financial statements set forth in
subsections (a) and (b) above, a Compliance Certificate.

      (d) Shareholder and SEC Documents. Borrowers shall deliver to Agent, as
soon as available, copies of all notices, reports, definitive proxy or other
regular or periodic reports and registration statements and other documents sent
by Borrowers to all of their shareholders generally, to all of the holders of
any of its debentures or bonds or the trustee of any indenture securing the same
or pursuant to which they are issued, or sent by Borrowers (in final form) to
any securities exchange or over the counter authority or system, or to the SEC
or any similar federal agency having regulatory jurisdiction over the issuance
of any Borrower's securities.

      (e) Financial Information of Companies. Borrowers shall deliver to Agent
and the Lenders, within ten days of the written request of Agent, such other
information about the financial condition, properties and operations of any
Company as Agent may from time to time reasonably request, which information
shall be submitted in form and detail reasonably satisfactory to Agent.

      Section 5.4. Financial Records. Each Company shall at all times maintain
true and complete records and books of account, including, without limiting the
generality of the foregoing, appropriate provisions for possible losses and
liabilities, all in accordance with GAAP, and at all reasonable times (during
normal business hours and upon prior notice to such Company) permit Agent and
the Lenders, or any representative thereof, to examine such Company's books and
records and to make excerpts therefrom and transcripts thereof.

                                       57
<PAGE>

      Section 5.5. Franchises; Change in Business; Maintenance of Property.

      (a) Each Company (other than a Dormant Subsidiary) shall preserve and
maintain at all times its existence and its material rights and franchises
(except as otherwise permitted under Section 5.12 hereof).

      (b) No Company shall engage in any business if, as a result thereof, the
general nature of the business of the Companies taken as a whole would be
substantially changed from the general nature of the business the Companies are
engaged in on the Closing Date.

      (c) Each Company shall maintain and keep, or cause to be maintained and
kept, their respective properties in good repair, working order and condition
(other than ordinary wear and tear), so that the business carried on in
connection therewith may be properly conducted at all times, provided that this
Section 5.5(c) shall not prevent any Company from discontinuing the operation
and the maintenance of any of its properties if such discontinuance is desirable
in the conduct of its business and such Company has concluded that such
discontinuance would not, individually or in the aggregate, have a Material
Adverse Effect.

      Section 5.6. ERISA Compliance.

      (a) Generally. No Company shall incur any material accumulated funding
deficiency within the meaning of ERISA, or any material liability to the PBGC,
in connection with any ERISA Plan. Borrowers shall furnish to the Lenders (i) as
soon as possible and in any event within thirty (30) days after any Company
knows or has reason to know that any Reportable Event as to which notice is
required to be provided to the PBGC with respect to any ERISA Plan has occurred,
a statement of a Financial Officer of such Company, setting forth details as to
such Reportable Event and the action that such Company proposes to take with
respect thereto, together with a copy of the notice of such Reportable Event
given to the PBGC if a copy of such notice is available to such Company, and
(ii) promptly after receipt thereof a copy of any notice such Company, or any
member of the Controlled Group may receive from the PBGC or the Internal Revenue
Service with respect to any ERISA Plan administered by such Company; provided
that this latter clause shall not apply to notices of general application
promulgated by the PBGC or the Internal Revenue Service. Borrowers shall
promptly notify the Lenders of any material taxes assessed, against a Company by
the Internal Revenue Service with respect to any ERISA Plan. As used in this
Section 5.6, "material" means the measure of a matter of significance that shall
be determined as being an amount equal to five percent (5%) of Consolidated Net
Worth. As soon as practicable, and in any event within twenty (20) days, after
any Company shall become aware that an ERISA Event shall have occurred, such
Company shall provide Agent with notice of such ERISA Event with a certificate
by a Financial Officer of such Company setting forth the details of the event
and the action such Company or another Controlled Group member proposes to take
with respect thereto. Borrowers shall, at the request of Agent or any Lender,
deliver or cause to be delivered to Agent or such Lender, as the case may be,
true and correct copies of any documents relating to the ERISA Plan of any
Company.

      (b) Canadian Pension Plans and Benefit Plans.

                                       58
<PAGE>

            (i) For each existing, or hereafter adopted, Canadian Pension Plan
      and Canadian Benefit Plan, Canadian Borrower shall in a timely fashion
      comply with and perform in all material respects all of its obligations
      under and in respect of such Canadian Pension Plan or Canadian Benefit
      Plan, including under any funding agreements and all applicable laws
      (including any fiduciary, funding, investment and administration
      obligations).

            (ii) All employer or employee payments, contributions or premiums
      required to be remitted, paid to or in respect of each Canadian Pension
      Plan or Canadian Benefit Plan shall be paid or remitted by Canadian
      Borrower in a timely fashion in accordance with the terms thereof, any
      funding agreements and all applicable laws.

            (iii) Canadian Borrower shall deliver to Agent (A) if requested by
      Agent, copies of each annual and other return, report or valuation with
      respect to each Canadian Pension Plan as filed with any applicable
      Governmental Authority; (B) promptly after receipt thereof, a copy of any
      material direction, order, notice, ruling or opinion that Canadian
      Borrower may receive from any applicable Governmental Authority with
      respect to any Canadian Pension Plan; and (C) notification within thirty
      (30) days of any increases having a cost to Canadian Borrower in excess of
      Two Hundred Fifty Thousand Dollars ($250,000) per annum in the aggregate,
      in the benefits of any existing Canadian Pension Plan or Canadian Benefit
      Plan, or the establishment of any new Canadian Pension Plan or Canadian
      Benefit Plan, or the commencement of contributions to any such plan to
      which Canadian Borrower was not previously contributing.

      Section 5.7. Financial Covenants.

      (a) Capitalization Ratio. US Borrower shall not suffer or permit at any
time the Capitalization Ratio to exceed 0.25 to 1.00.

      (b) Consolidated Net Worth. US Borrower shall not suffer or permit at any
time the Consolidated Net Worth to be less than Two Hundred Forty Million
Dollars ($240,000,000).

      Section 5.8. Borrowing.

      (a) Long-Term Funded Debt. No Company shall create, incur or have
outstanding any Long-Term Funded Debt of any kind; provided that this subsection
(a) shall not apply to the following:

            (i) the Loans, the Letters of Credit or any other Debt under this
      Agreement;

            (ii) Long-Term Funded Debt owing to a Borrower or a Wholly-Owned
      Subsidiary;

            (iii) any Long-Term Funded Debt incurred pursuant to the Note
      Purchase Agreements;

                                       59
<PAGE>

            (iv) the Long-Term Funded Debt existing on the Closing Date, as set
      forth in Schedule 5.8 hereto (and any extension, renewal or refinancing
      thereof so long as the principal amount thereof shall not be increased
      after the Closing Date); and

            (v) any other Long-Term Funded Debt so long as, on the date such
      Company becomes liable with respect to such Long-Term Funded Debt and
      immediately after giving effect thereto and the concurrent retirement of
      any other Long-Term Funded Debt:

                  (A) no Default or Event of Default shall then exist or
            immediately thereafter shall being to exist;

                  (B) the sum of (1) Consolidated Senior Long-Term Funded Debt,
            plus (2) the Clean-Down Amount of Consolidated Current Debt, does
            not exceed fifty-five percent (55%) of Consolidated Total
            Capitalization; and

                  (C) the sum of (1) Consolidated Long-Term Funded Debt, plus
            (2) the Clean-Down Amount of Consolidated Current Debt, does not
            exceed sixty-five percent (65%) of Consolidated Total
            Capitalization.

      (b) Current Debt. No Company shall, at any date, create, incur or have
outstanding any Current Debt of any kind unless, on the date such Company
becomes liable for such Current Debt, no Default or Event of Default shall exist
on such date and there shall have been a period of thirty (30) consecutive days
occurring in the twelve consecutive calendar months most recently ended (or on
such date if such date shall be the last day of a calendar month) on each day of
which Consolidated Current Debt shall not have been in excess of the amount of
Long-Term Funded Debt that the Companies could have incurred, but did not incur,
on such day in accordance with subpart (a)(v) above.

      (c) Generally. For the purposes of this Section 5.8, any Person becoming a
Subsidiary of US Borrower after the date hereof shall be deemed, at the time it
becomes a Subsidiary, to have incurred all of its then outstanding Current Debt
or Long-Term Funded Debt, and any Person extending, renewing or refunding any
Current Debt or Long-Term Funded Debt shall be deemed to have incurred such
Current Debt or Long-Term Funded Debt at the time of such extension, renewal or
refunding. For the avoidance of doubt, the parties hereto acknowledge and agree
that the covenant set forth in this Section 5.8 is to be applied on and as of
each date upon which any Company shall, directly or indirectly, create, incur,
assume, guarantee or otherwise become directly or indirectly liable with respect
to (or, as described in the immediately preceding sentence, be deemed, directly
or indirectly, to create, incur, assume, guarantee or otherwise become directly
or indirectly liable with respect to), any Current Debt or Long-Term Funded
Debt.

      Section 5.9. Liens. No Company shall create, assume or suffer to exist
(upon the happening of a contingency or otherwise) any Lien upon any of its
property or assets, whether now owned or hereafter acquired; provided that this
Section shall not apply to the following:

                                       60
<PAGE>

      (a) Liens (other than any Lien imposed by ERISA) incurred or deposits made
in the ordinary course of business:

            (i) in connection with workers' compensation, unemployment insurance
      and other types of social security or retirement benefits, or

            (ii) to secure (or to obtain letters of credit that secure) the
      performance of tenders, statutory obligations, surety bonds, bids, leases
      (other than capital leases), performance bonds, purchase, construction or
      sales contracts and other similar obligations, in each case not incurred
      or made in connection with the borrowing of money, the obtaining of
      advances or credit or the payment of the deferred purchase price of
      property;

      (b) statutory Liens of landlords and Liens of carriers, warehousemen,
mechanics, materialmen and other similar Liens, in each case incurred in the
ordinary course of business for sums not yet due and payable or the payment of
which is not at the time required by Section 5.2;

      (c) Liens arising from judicial attachments or judgments, or securing
appeal bonds, and other similar Liens, provided that

            (i) the execution or other enforcement of such Liens is effectively
      stayed, and

            (ii) the claims secured thereby are being actively contested in good
      faith and adequate reserves in respect thereof have been established by
      such Company in accordance with GAAP;

      (d) leases or subleases granted to others, easements, rights-of-way,
restrictions and other similar charges or encumbrances, in each case incidental
to, and not interfering with, the ordinary conduct of the business of a Company,
provided that such Liens do not, in the aggregate, materially impair the use of
such property by such Company;

      (e) Liens for taxes not yet due or that are being actively contested in
good faith by appropriate proceedings and for which adequate reserves shall have
been established in accordance with GAAP;

      (f) Liens on property or assets of a Subsidiary to secure obligations of
such Subsidiary to a Credit Party; or

      (g) other Liens securing Debt permitted pursuant to Section 5.8(a)(v)
hereof (but subject to Section 5.7(a) hereof).

If, US Borrower shall, or shall permit any of its Subsidiaries to, directly or
indirectly create, incur, assume or permit to exist any Lien securing the
obligations pursuant to the Note Purchase Agreements, it will make or cause to
be made effective provision whereby the Obligations will be secured equally and
ratably with any and all other obligations thereby secured, such security to be
pursuant to agreements reasonably satisfactory to the Required Lenders and, in
any such

                                       61
<PAGE>

case, the Obligations shall have the benefit, to the fullest extent that, and
with such priority as, the holders of the Obligations may be entitled under
applicable law, of an equitable Lien on such property. Such violation of this
Section 5.9 will constitute an Event of Default, whether or not provision is
made for an equal and ratable Lien pursuant to this Section 5.9.

      Section 5.10. Regulations T, U and X. No Company shall take any action
that would result in any non-compliance of the Loans or Letters of Credit with
Regulations T, U or X, or any other applicable regulation, of the Board of
Governors of the Federal Reserve System. Margin stock does not and shall not
constitute more than five percent (5%) of the value of the consolidated assets
of any Company and each Company does not have any present intention that margin
stock will constitute more than five percent (5%) of the value of such assets.

      Section 5.11. Compliance with Laws. Each Company:

      (a) shall maintain in effect all permits, certificates, licenses, orders,
registrations, franchises, authorizations, and other approvals from any
Governmental Authority necessary for the conduct of its business and will comply
with all applicable laws relating thereto; and

      (b) shall comply with all federal, state, provincial, local, or foreign
applicable statutes, rules, regulations, and orders including, without
limitation, those relating to environmental protection, occupational safety and
health, and equal employment and labor practices;

except, with respect to subsection (a) or (b) above, as would not result in a
Material Adverse Effect.

      Section 5.12. Merger and Sale of Assets. No Company shall merge,
amalgamate or consolidate with any other Person, or sell, lease or transfer or
otherwise dispose of any assets (including the capital stock of a Subsidiary) to
any Person other than in the ordinary course of business, except that, if no
Default or Event of Default shall then exist or immediately thereafter shall
begin to exist:

      (a) any Company may merge (or amalgamate) with any other Person, provided
that if such Company is US Borrower, such Company shall be the continuing or
surviving Person;

      (b) Canadian Borrower may amalgamate with any other Person, provided that
the amalgamated corporation resulting from such amalgamation shall deliver a
written confirmation to Agent confirming that it is subject to all of the
obligations of Canadian Borrower hereunder and such other documentation as Agent
may reasonably request, all in form and substance reasonably satisfactory to
Agent and the Lenders;

      (c) any Subsidiary may sell, lease, transfer or otherwise dispose of any
of its assets to (i) a Borrower or (ii) any Wholly-Owned Subsidiary;

      (d) any Borrower may sell, lease, transfer or otherwise dispose of any of
its assets to any Wholly-Owned Subsidiary;

                                       62
<PAGE>

      (e) any Company may sell, lease, transfer or otherwise dispose of any
assets to any other Company so long as such sale, lease or transfer is for fair
market value;

      (f) any Company may sell, lease, transfer or otherwise dispose of any
assets that are obsolete, worn-out or no longer used or useful in such Company's
business;

      (g) any Company may sell, lease, transfer or otherwise dispose of any
assets to any Person so long as (i) such disposition is for fair market value
(as determined by such Company); and (ii) the aggregate amount of all such
dispositions pursuant to this subsection (g) for all of the Companies does not
exceed, for the most recently completed four fiscal quarters of US Borrower, an
amount equal to fifteen percent (15%) of Consolidated Total Assets for the most
recently completed fiscal year of US Borrower; provided, however, that if the
proceeds hereof are intended to be used to effect a Debt Prepayment Application
or a Property Reinvestment Application within three hundred sixty-five (365)
days, then such sale, lease, transfer or other disposition shall be excluded for
the purposes of determining compliance with this Section 5.12(g); or

      (h) Acquisitions may be effected in accordance with the provisions of
Section 5.13 hereof.

      Section 5.13. Acquisitions. No Company shall effect an Acquisition;
provided, however, that a Company may effect an Acquisition so long as:

      (a) in the case of a merger, amalgamation or other combination including
US Borrower, US Borrower shall be the surviving entity;

      (b) in the case of a merger, amalgamation or other combination including
Canadian Borrower, the surviving entity shall deliver a written confirmation to
Agent confirming that it is subject to all of the obligations of Canadian
Borrower hereunder and such other documentation as Agent may reasonably request,
all in form and substance reasonably satisfactory to Agent and the Lenders;

      (c) the business to be acquired shall be similar or complementary to the
lines of business of the Companies;

      (d) such Acquisition is not actively opposed by the board of directors (or
similar governing body) of the selling Persons or the Persons whose equity
interests are to be acquired;

      (e) the Companies shall be in full compliance with the Loan Documents both
prior to and subsequent to the transaction;

      (f) no Default or Event of Default shall exist prior to or after giving
effect to such Acquisition; and

                                       63
<PAGE>

      (g) if the Consideration paid for such Acquisition is in excess of One
Hundred Million Dollars ($100,000,000), Borrowers shall have provided to Agent
and the Lenders, at least ten (10) days prior to such Acquisition, historical
financial statements of the target entity and a pro forma financial statement of
the Companies accompanied by a certificate of a Financial Officer of US Borrower
showing pro forma compliance with Section 5.7 hereof, both before and after the
proposed Acquisition.

      Section 5.14. Notice.

      (a) Notice of Default. Borrowers shall cause a Financial Officer to
promptly notify Agent and the Lenders, in writing, whenever any Default or Event
of Default may occur hereunder or any representation or warranty made in Article
VI hereof or elsewhere in this Agreement or in any Related Writing may for any
reason cease in any material respect to be true and complete.

      (b) Notice to Noteholders. Borrowers shall provide written notice to Agent
and the Lenders contemporaneously with any material notice required to be
provided to the Noteholders under any Note Purchase Agreement (without
duplication of notices otherwise required hereunder).

      (c) Notice of Change in Control or Control Event. Borrowers shall give
written notice to Agent and the Lenders of a Change in Control or Control Event
within five Business Days after any Financial Officer has knowledge of the
occurrence of such Change in Control or Control Event.

      Section 5.15. Environmental Compliance. Each Company shall comply in all
material respects with any and all Environmental Laws and Environmental Permits
including, without limitation, all Environmental Laws in jurisdictions in which
such Company owns or operates a facility or site, arranges for disposal or
treatment of hazardous substances, solid waste or other wastes, accepts for
transport any hazardous substances, solid waste or other wastes or holds any
interest in real property or otherwise. Borrowers shall furnish to the Lenders,
promptly after receipt thereof, a copy of any notice such Company may receive
from any Governmental Authority or private Person or otherwise that any material
litigation or proceeding pertaining to any environmental, health or safety
matter has been filed or is threatened against such Company, any real property
in which such Company holds any interest or any past or present operation of
such Company. No Company shall allow the material release or disposal of
hazardous waste, solid waste or other wastes on, under or to any real property
in which any Company holds any interest or performs any of its operations, in
violation of any Environmental Law. As used in this Section, "litigation or
proceeding" means any demand, claim, notice, suit, suit in equity action,
administrative action, investigation or inquiry whether brought by any
Governmental Authority or private Person or otherwise. Borrowers shall defend,
indemnify and hold Agent and the Lenders harmless against all costs, expenses,
claims, damages, penalties and liabilities of every kind or nature whatsoever
(including attorneys' fees) arising out of or resulting from the noncompliance
of any Company with any Environmental Law. Such indemnification shall survive
any termination of this Agreement.

                                       64
<PAGE>

      Section 5.16. Affiliate Transactions. No Company shall, directly or
indirectly, enter into or permit to exist any material transaction (including,
without limitation, the purchase, sale, lease or exchange of any property or the
rendering of any service) with any Affiliate of a Company (other than a Company
that is a Credit Party) on terms that shall be less favorable (considered as a
whole) to such Company than those that might be obtained at the time in a
transaction with a non-Affiliate; provided, however, that the foregoing shall
not prohibit (a) the payment of customary and reasonable directors' fees to
directors who are not employees of a Company or an Affiliate; (b) any
transaction between a Company (if a Credit Party) and an Affiliate (if a Credit
Party) which US Borrower reasonably determines in good faith is beneficial to
the Companies as a whole and which is not entered into for the purpose of
hindering the exercise by Agent or the Lenders of their rights or remedies under
this Agreement; (c) any employment agreement, employee benefit plan, stock
option plan, officer and director indemnification agreement or any similar
arrangement entered into by a Company in the ordinary course of business; or (d)
loans to employees or officers to the extent permitted under this Agreement.

      Section 5.17. Use of Proceeds. Borrowers use of the proceeds of the Loans
shall be solely for working capital and other general corporate purposes of the
Companies, and for Acquisitions.

      Section 5.18. Sale and Leaseback Transactions. No Company shall enter into
or permit to continue any Sale/Leaseback Transaction unless (a) the Attributable
Debt associated therewith can be incurred and remain outstanding in accordance
with the requirements of Section 5.7(a) hereof, or (b) such Company shall give
written notice to Agent prior to consummation of any such transaction that it
intends to apply the Net Proceeds Amount arising therefrom to a Debt Prepayment
Application or a Property Reinvestment Application within three hundred
sixty-five (365) days after such consummation, in which event such transaction,
only for the purpose of determining compliance with this Section 5.18, shall be
deemed not to be a Sale/Leaseback Transaction; provided that, if such Company
shall fail to apply such Net Proceeds Amount as stated in such notice within
such period, such failure shall constitute an Event of Default.

      Section 5.19. Guaranty Under Material Indebtedness Agreement. No Company
shall be or become a Guarantor of the Indebtedness incurred pursuant to any Note
Purchase Agreement or any other Material Indebtedness Agreement unless such
Company shall also become a Guarantor of Payment under this Agreement prior to
or concurrently therewith by executing and delivering to Agent, for the benefit
of the Lenders, a Guaranty of Payment of all of the Obligations, such agreement
to be in form and substance acceptable to Agent (it being understood and agreed
that the forms of Guaranty of Payment executed and delivered on the date hereof
are in form and substance acceptable to Agent), along with any such other
supporting documentation, corporate governance and authorization documents, and
an opinion of counsel, in each case reasonably requested by Agent.

      Section 5.20. Restrictive Agreements. Except as set forth in this
Agreement, Borrowers shall not, and shall not permit any of their Subsidiaries
to, directly or indirectly, create or otherwise cause or suffer to exist or
become effective any encumbrance or restriction on the ability of any Subsidiary
to (a) make, directly or indirectly, any Capital Distribution to any Borrower or
Guarantor of Payment, (b) make, directly or indirectly, loans or advances or
capital

                                       65
<PAGE>

contributions to any Borrower or Guarantor of Payment or (c) transfer, directly
or indirectly, any of the properties or assets of such Subsidiary to any
Borrower or Guarantor of Payment; except, with respect to (a), (b) or (c), for
such encumbrances or restrictions existing under or by reason of (i) applicable
law, (ii) customary non-assignment provisions in leases or other agreements
entered in the ordinary course of business and consistent with past practices,
or (iii) customary restrictions in security agreements or mortgages securing
Indebtedness of a Company, or capital leases, of a Company to the extent such
restrictions shall only restrict the transfer of the property subject to such
security agreement, mortgage or lease.

      Section 5.21. Other Covenants. If, at any time, any Note Purchase
Agreement existing as of the Closing Date (but including amendments thereof) is
amended, restated or otherwise modified, and the result thereof is that one or
more Financial Covenants, as hereinafter defined, contained therein are either
not contained in this Agreement or are contained in this Agreement but are more
favorable to the Noteholders than are the terms of this Agreement to the
Lenders, this Agreement shall, without any further action on the part of any
Borrower or the Lenders, be deemed to be amended automatically to include each
such additional or more favorable Financial Covenant, unless the Required
Lenders provide written notice to US Borrower to the contrary within thirty (30)
days after having received written notice from US Borrower of the effectiveness
of such additional or more favorable Financial Covenant. No modification or
amendment of any such Note Purchase Agreement that results in any Financial
Covenant becoming less restrictive shall be effective as a modification,
amendment or waiver under this Agreement. Borrowers further covenant promptly to
execute and deliver at their expense (including, without limitation, attorneys'
fees and expenses) an amendment to this Agreement in form and substance
satisfactory to the Required Lenders, provided that the execution and delivery
of such amendment shall not be a precondition to the effectiveness of such
additional or more favorable Financial Covenant as provided for in this Section
5.21. The provisions of this Section 5.21 shall apply successively to each
change in a Financial Covenant contained in any such Note Purchase Agreement.
For purposes of this Section 5.21, "Financial Covenant" shall mean any covenant
or equivalent provision (including, without limitation, any default or event of
default provision and definitions of defined terms used therein) requiring any
Company (a) to maintain any level of financial performance (including, without
limitation, a specified level of net worth, total assets, cash flow or net
income), (b) not to exceed any maximum level of Indebtedness, (c) to maintain
any relationship of any component of its capital structure to any other
component thereof (including, without limitation, the relationship of
indebtedness, senior indebtedness or subordinated indebtedness to total
capitalization or to net worth), or (d) to maintain any measure of its ability
to service its indebtedness (including, without limitation, falling below any
specified ratio of revenues, cash flow or net income to interest expense, rental
expense, capital expenditures and/or scheduled payments of Indebtedness).

      Section 5.22. Pari Passu Ranking. The Obligations shall, and each Borrower
shall take all necessary action to ensure that the Obligations shall, at all
times, rank at least pari passu in right of payment with all other senior
unsecured Indebtedness of such Borrower.

      Section 5.23. Note Purchase Agreements. US Borrower shall not, without the
prior written consent of Agent and the Required Lenders, (a) amend, restate,
supplement or otherwise modify any Note Purchase Agreement to (i) increase the
principal amount outstanding

                                       66
<PAGE>

thereunder, unless the amount of such increase shall be permitted pursuant to
Section 5.8 hereof, or (ii) otherwise modify any provision such that a Default
or Event of Default will exist, or (b) grant or suffer to exist (upon the
happening of a contingency or otherwise) any Lien securing any of the
obligations under any of the Note Purchase Agreements.

                   ARTICLE VI. REPRESENTATIONS AND WARRANTIES

      Section 6.1. Corporate Existence; Subsidiaries; Foreign Qualification.
Each Company is duly organized, validly existing and in good standing under the
laws of its state or jurisdiction of incorporation or organization, and as of
the Closing Date is duly qualified and authorized to do business and is in good
standing as a foreign entity in the jurisdictions where the character of its
property or its business activities makes such qualification necessary, except
where a failure to qualify will not result in a Material Adverse Effect.
Schedule 6.1 hereto sets forth, as of the Closing Date, each Subsidiary of a
Borrower, its state or jurisdiction of formation, its registered office (if it
is a Canadian organization), its relationship to US Borrower, including the
percentage of each class of stock owned by a Company, each Person that owns the
stock or other equity interest of each Company (other than US Borrower).

      Section 6.2. Corporate Authority. Each Credit Party has the corporate or
other organizational right and power and is duly authorized and empowered to
enter into, execute and deliver the Loan Documents to which it is a party and to
perform and observe the provisions of the Loan Documents. The Loan Documents to
which each Credit Party is a party have been duly authorized and approved by
such Credit Party's board of directors or other governing body, as applicable,
and are the valid and binding obligations of such Credit Party, enforceable
against such Credit Party in accordance with their respective terms, except as
enforceability thereof may be limited by bankruptcy, insolvency, moratorium and
similar laws and by equitable principles, whether considered at law or in
equity. The execution, delivery and performance of the Loan Documents will not
conflict with nor result in any breach in any of the provisions of, or
constitute a default under, or result in the creation of any Lien (other than
Liens permitted under Section 5.9 hereof) upon any assets or property of any
Company under the provisions of, such Company's Organizational Documents or any
material agreement.

      Section 6.3. Compliance with Laws. Except as set forth on Schedule 6.3
hereto or except as would not have a Material Adverse Effect, each Company:

      (a) holds permits, certificates, licenses, orders, registrations,
franchises, authorizations, and other approvals from any Governmental Authority
necessary for the conduct of its business and is in compliance with all
applicable laws relating thereto;

      (b) is in compliance with all federal, state, provincial, local, or
foreign applicable statutes, rules, regulations, and orders including, without
limitation, those relating to environmental protection, occupational safety and
health, and equal employment and labor practices; and

                                       67
<PAGE>

      (c) is not in violation of or in default under any agreement to which it
is a party or by which its assets are subject or bound.

      Section 6.4. Litigation and Administrative Proceedings. Except as
disclosed on Schedule 6.4 hereto or as would not have a Material Adverse Effect,
there are (a) no lawsuits, actions, investigations, or other proceedings pending
or threatened against any Company, or in respect of which any Company may have
any liability, in any court or before any Governmental Authority, arbitration
board, or other tribunal, (b) no orders, writs, injunctions, judgments, or
decrees of any court or government agency or instrumentality to which any
Company is a party or by which the property or assets of any Company are bound,
and (c) no grievances, disputes, or controversies outstanding with any union or
other organization of the employees of any Company, or threats of work stoppage,
strike, or pending demands for collective bargaining.

      Section 6.5. Title to Assets. Each Company has title to and ownership of
all material properties it purports to own, which properties are free and clear
of all Liens, except those permitted under Section 5.9 hereof.

      Section 6.6. Liens and Security Interests. On and after the Closing Date,
except for Liens permitted pursuant to Section 5.9 hereof, (a) there is and will
be no Uniform Commercial Code or Personal Property Security Act Financing
Statement outstanding covering any personal property of any Company; (b) there
is and will be no mortgage or deed of hypothec outstanding covering any real
property of any Company; and (c) no real or personal property of any Company is
subject to any security interest or Lien of any kind.

      Section 6.7. Tax Returns. All federal, state, provincial and material
local tax returns and other material reports required by law to be filed in
respect of the income, business, properties and employees of each Company have
been filed and all material taxes, assessments, fees and other governmental
charges that are shown thereon to be due and payable have been paid, except as
otherwise permitted herein. The provision for taxes on the books of each Company
is adequate for all years not closed by applicable statutes and for the current
fiscal year.

      Section 6.8. Environmental Laws. Except as disclosed on Schedule 6.8
hereto, (a) each Company is in material compliance with all Environmental Laws,
including, without limitation, all Environmental Laws in all jurisdictions in
which any Company owns or operates, or has owned or operated, a facility or
site, arranges or has arranged for disposal or treatment of hazardous
substances, solid waste or other wastes, accepts or has accepted for transport
any hazardous substances, solid waste or other wastes or holds or has held any
interest in real property or otherwise; (b) no material litigation or proceeding
arising under, relating to or in connection with any Environmental Law or
Environmental Permit is pending or, to the best knowledge of each Company,
threatened, against any Company, any real property in which any Company holds or
has held an interest or any past or present operation of any Company; and (c) no
material release, threatened release or disposal of hazardous waste, solid waste
or other wastes is occurring, or has occurred (other than those that are
currently being cleaned up in accordance with Environmental Laws), on, under or
to any real property in which any Company holds any interest or performs any of
its operations, in violation of any Environmental Law. As used in this Section,
"litigation or proceeding" means any demand, claim, notice, suit, suit in

                                       68
<PAGE>

equity, action, administrative action, investigation or inquiry whether brought
by any Governmental Authority or private Person, or otherwise.

      Section 6.9. Continued Business. There exists no actual, pending, or, to
each Borrower's knowledge, any threatened termination, cancellation or
limitation of, or any modification or change in the business relationship of any
Company and any customer or supplier, or any group of customers or suppliers,
whose purchases or supplies, individually or in the aggregate, are material to
the business of any Company, and there exists no present condition or state of
facts or circumstances that would have a Material Adverse Effect or prevent a
Company from conducting such business or the transactions contemplated by this
Agreement in substantially the same manner in which it was previously conducted.

      Section 6.10. Employee Benefits Plans.

      (a) Schedule 6.10 hereto identifies each ERISA Plan and each Multiemployer
Plan as of the Closing Date. Except as set forth on Schedule 6.10 hereto, no
ERISA Event has occurred or is expected to occur with respect to an ERISA Plan
that would have a Material Adverse Effect. Except as would not result in a
Material Adverse Effect, full payment has been made of all amounts that a
Controlled Group member is required, under applicable law or under the governing
documents, to have paid as a contribution to or a benefit under each ERISA Plan.
The liability of each Controlled Group member with respect to each ERISA Plan
has been fully funded based upon reasonable and proper actuarial assumptions,
has been fully insured, or has been fully reserved for on its financial
statements except for such failure that would not result in a Material Adverse
Effect. No changes have occurred or are expected to occur that would cause a
material increase in the cost of providing benefits under the ERISA Plan. With
respect to each ERISA Plan that is intended to be qualified under Code Section
401(a), (i) the ERISA Plan and any associated trust operationally comply in all
material respects with the applicable requirements of Code Section 401(a) except
for such failure that would not result in a Material Adverse Effect; (ii) the
ERISA Plan and any associated trust have been amended to comply with all such
requirements as currently in effect, other than those requirements for which a
retroactive amendment can be made within the "remedial amendment period"
available under Code Section 401(b) (as extended under Treasury Regulations and
other Treasury pronouncements upon which taxpayers may rely) except for such
failure that would not result in a Material Adverse Effect; (iii) the ERISA Plan
and any associated trust have received a favorable determination letter from the
Internal Revenue Service stating that the ERISA Plan qualifies under Code
Section 401(a), that the associated trust qualifies under Code Section 501(a)
and, if applicable, that any cash or deferred arrangement under the ERISA Plan
qualifies under Code Section 401(k), unless the ERISA Plan was first adopted at
a time for which the above-described "remedial amendment period" has not yet
expired; (iv) the ERISA Plan currently satisfies the requirements of Code
Section 410(b), subject to any retroactive amendment that may be made within the
above-described "remedial amendment period" except for such failure that would
not result in a Material Adverse Effect; and (v) no contribution made to the
ERISA Plan is subject to an excise tax under Code Section 4972 that would have a
Material Adverse Effect. Except as would not result in a Material Adverse
Effect, with respect to any Pension Plan, the "accumulated benefit obligation"
of Controlled Group members with respect to the Pension Plan (as determined in

                                       69
<PAGE>

accordance with Statement of Accounting Standards No. 87, "Employers' Accounting
for Pensions") does not exceed the fair market value of Pension Plan assets.

      (b) Canadian Pension Plan and Benefit Plans. As of the Closing Date,
Schedule 6.10 hereto lists all Canadian Benefit Plans and Canadian Pension Plans
currently maintained or contributed to by Canadian Borrower. The Canadian
Pension Plans are duly registered under the Income Tax Act (Canada) and all
other applicable laws which require registration. Canadian Borrower has complied
with and performed all of its obligations under and in respect of the Canadian
Pension Plans and Canadian Benefit Plans under the terms thereof, any funding
agreements and all applicable laws (including any fiduciary, funding, investment
and administration obligations) except to the extent as would not reasonably be
expected to have a Material Adverse Effect. All employer and employee payments,
contributions or premiums to be remitted, paid to or in respect of each Canadian
Pension Plan or Canadian Benefit Plan have been paid in a timely fashion in
accordance with the terms thereof, any funding agreement and all applicable laws
except to the extent the failure to do so would not reasonably be expected to
have a Material Adverse Effect. Except as set forth on Schedule 6.10 hereto, as
of the Closing Date, there are no outstanding actions or suits concerning the
assets of the Canadian Pension Plans or the Canadian Benefit Plans. Except as
set forth on Schedule 6.10 hereto, as of the Closing Date, each of the Canadian
Pension Plans is fully funded on an ongoing basis (using actuarial methods and
assumptions as of the date of the valuations last filed with the applicable
Governmental Authorities and that are consistent with generally accepted
actuarial principles).

      Section 6.11. Consents or Approvals. No consent, approval or authorization
of, or filing, registration or qualification with, any Governmental Authority or
any other Person is required to be obtained or completed by any Company in
connection with the execution, delivery or performance of any of the Loan
Documents, that has not already been obtained or completed.

      Section 6.12. Solvency.

      (a) US Borrower. US Borrower has received consideration that is the
reasonable equivalent value of the obligations and liabilities that US Borrower
has incurred to Agent and the Lenders. US Borrower is not insolvent as defined
in any applicable state, federal or relevant foreign statute, nor will US
Borrower be rendered insolvent by the execution and delivery of the Loan
Documents to Agent and the Lenders. US Borrower is not engaged or about to
engage in any business or transaction for which the assets retained by it are or
will be an unreasonably small amount of capital, taking into consideration the
obligations to Agent and the Lenders incurred hereunder. US Borrower does not
intend to, nor does it believe that it will, incur debts beyond its ability to
pay such debts as they mature.

      (b) Canadian Borrower. Canadian Borrower has received consideration that
is the reasonable equivalent value of the obligations and liabilities that
Canadian Borrower has incurred to Agent, Canadian Funding Agent and the Canadian
Lenders. Canadian Borrower is not insolvent as defined in any applicable state,
provincial, federal, municipal or relevant foreign statute, nor will Canadian
Borrower be rendered insolvent by the execution and delivery of the Loan
Documents to Agent, Canadian Funding Agent and the Canadian Lenders. Canadian
Borrower is not engaged or about to engage in any business or transaction for
which the assets

                                       70
<PAGE>

retained by it are or will be an unreasonably small amount of capital, taking
into consideration the obligations to Agent, Canadian Funding Agent and the
Canadian Lenders incurred hereunder. Canadian Borrower does not intend to, nor
does it believe that it will, incur debts beyond its ability to pay such debts
as they mature.

      Section 6.13. Financial Statements. Except as disclosed on Schedule 6.13
hereto, the Consolidated financial statements of US Borrower for the fiscal year
ended April 30, 2003 and the unaudited Consolidated financial statements of
Borrowers for the fiscal quarter ended January 31, 2004, furnished to Agent and
the Lenders, are true and complete, have been prepared in accordance with GAAP,
and fairly present in all material respects the financial condition of the
Companies as of the dates of such financial statements and the results of their
operations for the periods then ending (other than, with respect to interim
statements, the absence of footnotes and subject to year-end adjustments). Since
the dates of such statements, there has been no material adverse change in any
Company's financial condition, properties or business or any change in any
Company's accounting procedures.

      Section 6.14. Regulations. No Company is engaged principally or as one of
its important activities, in the business of extending credit for the purpose of
purchasing or carrying any "margin stock" (within the meaning of Regulation U of
the Board of Governors of the Federal Reserve System of the United States of
America). Neither the granting of any Loan (or any conversion thereof) or Letter
of Credit nor the use of the proceeds of any Loan or Letter of Credit will
violate, or be inconsistent with, the provisions of Regulation T, U or X or any
other Regulation of such Board of Governors. Margin stock does not and shall not
constitute more than five percent (5%) of the value of the consolidated assets
of any Company and each Company does not have any present intention that margin
stock will constitute more than five percent (5%) of the value of such assets.

      Section 6.15. Material Agreements. Except as disclosed on Schedule 6.15
hereto as of the Closing Date, no Company is a party to any (a) Material
Indebtedness Agreement (excluding the Loan Documents and the Note Purchase
Agreement), (b) contract, commitment, agreement, or other arrangement with any
of its "Affiliates" (as such term is defined in the Securities Exchange Act of
1934, as amended) other than a Company, or (c) collective bargaining agreement;
which, in the case of subsections (a), (b) and (c) above, if violated, breached
or terminated, would have or would be reasonably expected to have a Material
Adverse Effect.

      Section 6.16. Intellectual Property. Each Company owns, or has the right
to use all of the patents, patent applications, industrial designs, trademarks,
service marks, copyrights, licenses, and rights with respect to the foregoing
necessary for the conduct of its business without any known conflict with the
rights of others, except as would not result in a Material Adverse Effect.

      Section 6.17. Insurance. The Companies maintain with financially sound and
reputable insurers insurance with coverage and limits as required by law and as
is customary with similarly situated Persons engaged in the same or similar
businesses as the Companies.

                                       71
<PAGE>

      Section 6.18. Accurate and Complete Statements. Neither the Loan Documents
nor any written statement made by any Company in connection with any of the Loan
Documents contains any untrue statement of a material fact or omits a material
fact necessary to make the statements contained therein or in the Loan Documents
not misleading. There is no known fact that any Company has not disclosed to
Agent and the Lenders that has or is likely to have a Material Adverse Effect.

      Section 6.19. Note Purchase Agreements. (a) No Default or Event of Default
(as each term (or similar term, if any) is defined in the Note Purchase
Agreements) exists, nor will any such Default or Event of Default exist
immediately after the granting of any loan under this Agreement or the Note
Purchase Agreement, or any agreement executed in connection therewith; (b) no
Company has incurred any "Debt" (as defined, or as a similar term is defined, in
each Note Purchase Agreement) in violation of the provisions of any Note
Purchase Agreement; and (c) the Obligations (as defined herein) constitute
"Debt" (as defined or, as a similar term is defined, in each Note Purchase
Agreement) permitted pursuant to the provisions of the Note Purchase Agreements.
No Subsidiary is a Guarantor under any Note Purchase Agreement or any other
Material Indebtedness Agreement that is not also a Guarantor of Payment
hereunder.

      Section 6.20. Investment Company; Holding Company. No Company is (a) an
"investment company" or a company "controlled" by an "investment company" within
the meaning of the Investment Company Act of 1940, as amended, or (b) subject to
regulation under the Public Utility Holding Company Act of 1935 or the Federal
Power Act, each as amended, or any foreign, federal, state or local statute or
regulation limiting its ability to incur Indebtedness.

      Section 6.21. Existing Indebtedness. Except as described therein, Schedule
6.21 sets forth a complete and correct list of all outstanding Indebtedness of
the Companies as of April 30, 2004, since which date there has been no material
change in the amounts, interest rates, sinking funds, installment payments or
maturities of the Indebtedness of the Companies. No Company is in default and no
waiver of default is currently in effect, in the payment of any principal or
interest on any Indebtedness of any Company and no event or condition exists
with respect to any Indebtedness of any Company the outstanding principal amount
of which exceeds Fifteen Million Dollars ($15,000,000) that would permit (or
that with notice or the lapse of time, or both, would permit) one or more
Persons to cause such Indebtedness to become due and payable before its stated
maturity or before its regularly scheduled dates of payment.

      Section 6.22. Defaults. No Default or Event of Default exists hereunder,
nor will any begin to exist immediately after the execution and delivery hereof.

                         ARTICLE VII. EVENTS OF DEFAULT

      Each of the following shall constitute an Event of Default hereunder:

      Section 7.1. Payments. If (a) the interest on any Loan or any facility,
utilization or other fee shall not be paid in full punctually when due and
payable or within five Business Days
<PAGE>

thereafter, or (b) the principal of any Loan or any obligation under any Letter
of Credit shall not be paid in full when due and payable.

      Section 7.2. Special Covenants. If any Company shall fail or omit to
perform and observe Section 5.7, 5.8, 5.9, 5.12, 5.19, 5.21, 5.22 or 5.23
hereof.

      Section 7.3. Other Covenants. If any Company shall fail or omit to perform
and observe any agreement or other provision (other than those referred to in
Section 7.1 or 7.2 hereof) contained or referred to in this Agreement or any
Related Writing that is on such Company's part to be complied with, and that
Default shall not have been fully corrected within thirty (30) days after the
earlier of (a) any Financial Officer of such Company becomes aware of the
occurrence thereof, or (b) the giving of written notice thereof to US Borrower
by Agent or any Lender that the specified Default is to be remedied.

      Section 7.4. Representations and Warranties. If any representation,
warranty or statement made in or pursuant to this Agreement or any Related
Writing or any other material written factual information furnished by any
Company to the Lenders or any thereof or any other holder of any Note, shall be
false or erroneous in any material respect.

      Section 7.5. Cross Default.

      (a) Note Purchase Agreement. If (i) any event of default (as each term or
similar term is defined in any Note Purchase Agreement) shall occur under any
Note Purchase Agreement or any agreement executed in connection therewith, or
(ii) the Indebtedness incurred in connection with any Note Purchase Agreement
shall be accelerated for any reason.

      (b) Other Cross Defaults. If any Company shall:

            (i) default in the payment of principal or interest due and owing on
      any Indebtedness that is outstanding in an aggregate principal amount of
      Five Million Dollars ($5,000,000) or more beyond any period of grace
      provided with respect thereto;

            (ii) default in the payment of principal or interest due and owing
      under any Material Indebtedness Agreement beyond any period of grace
      provided with respect thereto or in the performance or observance of any
      other agreement, term or condition contained in any agreement under which
      such obligation is created, if the effect of such default is to cause the
      Indebtedness (or any part thereof) under such Material Indebtedness
      Agreement to become due prior to its stated maturity; or

            (iii) default in the performance or observance of any term or
      condition contained in any agreement evidencing Indebtedness in an
      aggregate outstanding principal amount of Thirty Million Dollars
      ($30,000,000) or more, if the effect of such default is to allow the
      acceleration of the maturity of such Indebtedness.

                                       73
<PAGE>

      Section 7.6. ERISA Default. The occurrence of one or more ERISA Events
that (a) the Required Lenders determine would have a Material Adverse Effect, or
(b) results in a material Lien on any of the assets of any Company.

      Section 7.7. Change in Control. If any Change in Control shall occur.

      Section 7.8. Money Judgment. A final judgment or order for the payment of
money shall be rendered against any Company by a court of competent
jurisdiction, that remains unpaid or unstayed and undischarged for a period
(during which execution shall not be effectively stayed) of thirty (30) days
after the date on which the right to appeal has expired, provided that the
aggregate of all such judgments at any time unstayed or undischarged, for all
such Companies, shall exceed Fifteen Million Dollars ($15,000,000).

      Section 7.9. Validity of Loan Documents. (a) Any material provision, in
the reasonable opinion of Agent, of any Loan Document shall at any time for any
reason cease to be valid, binding and enforceable against any Credit Party; (b)
the validity, binding effect or enforceability of any Loan Document against any
Credit Party shall be contested by any Credit Party; (c) any Credit Party shall
deny that it has any or further liability or obligation under any Loan Document;
or (d) any Loan Document shall be terminated, invalidated or set aside, or be
declared ineffective or inoperative or in any way cease to give or provide to
Agent and the Lenders the benefits purported to be created thereby. In addition
to any other material Loan Documents, this Agreement, each Note and each
Guaranty of Payment shall be deemed to be "material".

      Section 7.10. Solvency. If any Company (other than a Dormant Subsidiary)
shall (a) except as permitted pursuant to Section 5.12 hereof, discontinue
business, (b) generally not pay its debts as such debts become due, (c) make a
general assignment for the benefit of creditors, (d) apply for or consent to the
appointment of an interim receiver, a receiver and manager, an administrator,
sequestrator, monitor, a custodian, a trustee, an interim trustee, liquidator,
agent or other similar official of all or a substantial part of its assets or of
such Company, (e) be adjudicated a debtor or insolvent or have entered against
it an order for relief under Title 11 of the United States Code, or under any
other bankruptcy insolvency, liquidation, winding-up, corporate or similar
statute or law, foreign, federal, state or provincial, in any applicable
jurisdiction, now or hereafter existing, as any of the foregoing may be amended
from time to time, or other applicable statute for jurisdictions outside of the
United States, as the case may be, (f) file a voluntary petition in bankruptcy,
or file a proposal or notice of intention to file a proposal or have an
involuntary proceeding filed against it and the same shall continue undismissed
for a period of sixty (60) days from commencement of such proceeding or case, or
file a petition or an answer or an application or a proposal seeking
reorganization or an arrangement with creditors or seeking to take advantage of
any other law (whether federal, provincial or state, or, if applicable, other
jurisdiction) relating to relief of debtors, or admit (by answer, by default or
otherwise) the material allegations of a petition filed against it in any
bankruptcy, reorganization, insolvency or other proceeding (whether federal,
provincial or state, or, if applicable, other jurisdiction) relating to relief
of debtors, (g) suffer or permit or to continue unstayed and in effect for sixty
(60) consecutive days any judgment, decree or order entered by a court of
competent jurisdiction, that approves a petition or an application or a proposal
seeking

                                       74
<PAGE>

its reorganization or appoints an interim receiver, a receiver and manager, an
administrator, custodian, trustee, interim trustee or liquidator of all or a
substantial part of its assets, or of such Company, (h) take, or omit to take,
any action in order thereby to effect any of the foregoing, (i) have assets, the
value of which is less than its liabilities (taking into account prospective and
contingent liabilities), or (j) have a moratorium declared in respect of any of
its Indebtedness, or any analogous procedure or step is taken in any
jurisdiction.

                       ARTICLE VIII. REMEDIES UPON DEFAULT

      Notwithstanding any contrary provision or inference herein or elsewhere:

      Section 8.1. Optional Defaults. If any Event of Default referred to in
Section 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8 or 7.9 hereof shall occur, Agent
may, with the consent of the Required Lenders, and shall, at the written request
of the Required Lenders, give written notice to Borrowers, to:

      (a) terminate the Commitment, if not previously terminated, and,
immediately upon such election, the obligations of the Lenders, and each
thereof, to make any further Loan and the obligation of the Fronting Lender to
issue any Letter of Credit immediately shall be terminated, and/or

      (b) accelerate the maturity of all of the Obligations (if the Obligations
are not already due and payable), whereupon all of the Obligations shall become
and thereafter be immediately due and payable in full without any presentment or
demand and without any further or other notice of any kind, all of which are
hereby waived by each Borrower.

      Section 8.2. Automatic Defaults. If any Event of Default referred to in
Section 7.10 hereof shall occur:

      (a) all of the Commitment shall automatically and immediately terminate,
if not previously terminated, and no Lender thereafter shall be under any
obligation to grant any further Loan, nor shall the Fronting Lender be obligated
to issue any Letter of Credit, and

      (b) the principal of and interest then outstanding on all of the Loans,
and all of the other Obligations, shall thereupon become and thereafter be
immediately due and payable in full (if the Obligations are not already due and
payable), all without any presentment, demand or notice of any kind, which are
hereby waived by each Borrower.

      Section 8.3. Letters of Credit. If the maturity of the Obligations shall
be accelerated pursuant to Section 8.1 or 8.2 hereof, US Borrower shall
immediately deposit with Agent, as security for the obligations of US Borrower
(or US Borrower together with another Company) and to reimburse Agent and the US
Lenders for any then outstanding Letters of Credit, cash equal to one hundred
five percent (105%) of the sum of the aggregate undrawn balance of any then
outstanding Letters of Credit. Agent and the Lenders are hereby authorized, at
their option, to deduct any and all such amounts from any deposit balances then
owing by any Lender (or any

                                       75
<PAGE>

affiliate of such Lender) to or for the credit or account of any Company, as
security for the obligations of US Borrower and any Guarantor of Payment to
reimburse Agent and the US Lenders for any then outstanding Letters of Credit.

      Section 8.4. Offsets. If there shall occur or exist any Event of Default
referred to in Section 7.10 hereof or if the maturity of the Obligations is
accelerated pursuant to Section 8.1 or 8.2 hereof, each Lender shall have the
right at any time to set off against, and to appropriate and apply toward the
payment of, any and all Obligations then owing by a Borrower or Guarantor of
Payment to such Lender (including, without limitation, any participation
purchased or to be purchased pursuant to Section 2.2(b), 2.2(c) or 8.5 hereof),
whether or not the same shall then have matured, any and all deposit (general or
special) balances and all other indebtedness then held or owing by such Lender
(including, without limitation, by branches and agencies or any affiliate of
such Lender, wherever located) to or for the credit or account of such Borrower
or Guarantor of Payment, all without notice to or demand upon any Borrower or
any other Person, all such notices and demands being hereby expressly waived by
each Borrower.

      Section 8.5. Equalization Provision.

      (a) Equalization. Each US Lender agrees with the other US Lenders that if
it, at any time, shall obtain any Advantage over the other US Lenders, or any
thereof, in respect of the Applicable Debt (except as to US Swing Loans and
amounts under Article III hereof), such US Lender shall purchase from the other
US Lenders, for cash and at par, such additional participation in the Applicable
Debt as shall be necessary to nullify the Advantage. Each Canadian Lender agrees
with the other Canadian Lenders that if it, at any time, shall obtain any
Advantage over the other Canadian Lenders, or any thereof, in respect of the
Applicable Debt (except as to Canadian Swing Loans and amounts under Article III
hereof), such Canadian Lender shall purchase from the other Canadian Lenders,
for cash and at par, such additional participation in the Applicable Debt as
shall be necessary to nullify the Advantage.

      (b) Recovery of Advantage. If any such Advantage resulting in the purchase
of an additional participation as aforesaid shall be recovered in whole or in
part from the Lender receiving the Advantage, each such purchase shall be
rescinded, and the purchase price restored (but without interest unless such
Lender receiving the Advantage is required to pay interest on the Advantage to
the Person recovering the Advantage from such Lender) ratably to the extent of
the recovery.

      (c) Application and Sharing of Set-Off Amounts. Each Lender further agrees
with the other Lenders that if it at any time shall receive any payment for or
on behalf of a Credit Party on any Indebtedness owing by such Credit Party to
such Lender by reason of offset of any deposit or other Indebtedness, it shall
apply such payment first to any and all Indebtedness owing by such Credit Party
to such Lender pursuant to this Agreement (including, without limitation, any
participation purchased or to be purchased pursuant to this Section or any other
Section of this Agreement). Each Credit Party agrees that any Lender so
purchasing a participation from the other Lenders, or any thereof, pursuant to
this Section may exercise all of its rights of payment (including the right of
set-off) with respect to such participation as fully as if such Lender were a
direct creditor of such Credit Party in the amount of such participation.

                                       76
<PAGE>

      Section 8.6. Other Remedies. The remedies in this Article VIII are in
addition to, not in limitation of, any other right, power, privilege, or remedy,
either in law, in equity, or otherwise, to which the Lenders may be entitled.
Agent shall exercise the rights under this Article VIII and all other collection
efforts on behalf of the Lenders and no Lender shall act independently with
respect thereto, except as otherwise specifically set forth in this Agreement.

              ARTICLE IX. THE AGENT AND THE CANADIAN FUNDING AGENT

      The Lenders authorize KeyBank National Association and KeyBank National
Association hereby agrees to act as agent for the Lenders in respect of this
Agreement upon the terms and conditions set forth elsewhere in this Agreement,
and upon the following terms and conditions. The Lenders authorize Bank of
Montreal and Bank of Montreal hereby agrees to act as Canadian funding agent for
the Canadian Lenders in respect of this Agreement upon the terms and conditions
set forth elsewhere in this Agreement, and upon the following terms and
conditions:

      Section 9.1. Appointment and Authorization. Each Lender hereby irrevocably
appoints and authorizes Agent (and Canadian Funding Agent, with respect to the
Lender Agreement) to take such action as agent on its behalf and to exercise
such powers hereunder as are delegated to Agent (and Canadian Funding Agent) by
the terms hereof, together with such powers as are reasonably incidental
thereto, including, without limitation, to execute and deliver the Intercreditor
Agreement and the Lender Agreement on behalf of the Lenders. Neither Agent nor
Canadian Funding Agent (or any of their respective affiliates, directors,
officers, attorneys or employees) shall (a) be liable for any action taken or
omitted to be taken by it or them hereunder or in connection herewith, except
for its or their own gross negligence or willful misconduct (as determined by a
court of competent jurisdiction), or be responsible in any manner to any of the
Lenders for the effectiveness, enforceability, genuineness, validity or due
execution of this Agreement or any other Loan Documents, (b) be under any
obligation to any Lender to ascertain or to inquire as to the performance or
observance of any of the terms, covenants or conditions hereof or thereof on the
part of Borrowers or any other Company, or the financial condition of Borrowers
or any other Company, or (c) be liable to any of the Companies for consequential
damages resulting from any breach of contract, tort or other wrong in connection
with the negotiation, documentation, administration or collection of the Loans
or Letters of Credit or any of the Loan Documents. Each Lender, by becoming a
party to this Agreement, agrees to be bound by and subject to the terms and
conditions of the Intercreditor Agreement and the Lender Agreement as if it were
an original party thereto.

      Section 9.2. Note Holders. Agent and Canadian Funding Agent may treat the
payee of any Note as the holder thereof until written notice of transfer shall
have been filed with Agent, signed by such payee and in form satisfactory to
Agent.

      Section 9.3. Consultation With Counsel. Agent and Canadian Funding Agent
may consult with legal counsel selected by Agent and shall not be liable for any
action taken or

                                       77
<PAGE>

suffered in good faith by Agent or Canadian Funding Agent, as the case may be,
in accordance with the opinion of such counsel.

      Section 9.4. Documents. Neither Agent nor Canadian Funding Agent shall be
under any duty to examine into or pass upon the validity, effectiveness,
genuineness or value of any Loan Document or any other Related Writing furnished
pursuant hereto or in connection herewith or the value of any collateral
obtained hereunder, and Agent and Canadian Funding Agent shall be entitled to
assume that the same are valid, effective and genuine and what they purport to
be.

      Section 9.5. Agent and Affiliates. With respect to the Loans, Agent and
Canadian Funding Agent shall have the same rights and powers hereunder as any
other Lender and may exercise the same as though it were not Agent or Canadian
Funding Agent, and Agent and Canadian Funding Agent and their respective
affiliates may accept deposits from, lend money to and generally engage in any
kind of business with any Company or any Affiliate.

      Section 9.6. Knowledge of Default. It is expressly understood and agreed
that Agent (and Canadian Funding Agent) shall be entitled to assume that no
Default or Event of Default has occurred, unless Agent has been notified by a
Lender in writing that such Lender believes that a Default or Event of Default
has occurred and is continuing and specifying the nature thereof or has been
notified by a Borrower pursuant to Section 5.14 hereof.

      Section 9.7. Action by Agent. Subject to the other terms and conditions
hereof, so long as Agent shall be entitled, pursuant to Section 9.6 hereof, to
assume that no Default or Event of Default shall have occurred and be
continuing, Agent shall be entitled to use its discretion with respect to
exercising or refraining from exercising any rights that may be vested in it by,
or with respect to taking or refraining from taking any action or actions that
it may be able to take under or in respect of, this Agreement. Agent shall incur
no liability under or in respect of this Agreement by acting upon any notice,
certificate, warranty or other paper or instrument believed by it to be genuine
or authentic or to be signed by the proper party or parties, or with respect to
anything that it may do or refrain from doing in the reasonable exercise of its
judgment, or that may seem to it to be necessary or desirable in the premises.

      Section 9.8. Notice of Default. In the event that Agent shall have
acquired actual knowledge of any Default or Event of Default, Agent shall
promptly notify the Lenders and shall take such action and assert such rights
under this Agreement as the Required Lenders shall direct and Agent shall inform
the other Lenders in writing of the action taken. Agent may take such action and
assert such rights as it deems to be advisable, in its discretion, for the
protection of the interests of the holders of the Obligations.

      Section 9.9. Indemnification of Agent and Canadian Funding Agent. The
Lenders agree to indemnify Agent and Canadian Funding Agent (to the extent not
reimbursed by Borrowers) ratably, according to their respective Overall
Commitment Percentages, from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses
(including attorneys' fees) or disbursements of any kind or nature whatsoever
that may be imposed on, incurred by or asserted against Agent or Canadian
Funding Agent in its capacity as agent in any way relating to or arising out of
this Agreement, the Intercreditor Agreement, the Lender Agreement or any Loan
Document, or any action taken or omitted by Agent or Canadian Funding Agent with
respect to this Agreement, the Intercreditor Agreement, the

                                       78
<PAGE>

Lender Agreement or any Loan Document, provided that no Lender shall be liable
for any portion of such liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses (including attorneys' fees) or
disbursements resulting from the gross negligence or willful misconduct of Agent
or Canadian Funding Agent, as the case may be, as determined by a court of
competent jurisdiction, or from any action taken or omitted by Agent or Canadian
Funding Agent, as the case may be, in any capacity other than as agent under
this Agreement, the Intercreditor Agreement, the Lender Agreement or any other
Loan Document.

      Section 9.10. Successor Agent. Agent may resign as agent hereunder by
giving not fewer than thirty (30) days prior written notice to Borrowers and the
Lenders. If Agent shall resign under this Agreement, then either (a) the
Required Lenders shall appoint from among the Lenders a successor agent for the
Lenders (with the consent of Borrowers so long as an Event of Default has not
occurred and which consent shall not be unreasonably withheld), or (b) if a
successor agent shall not be so appointed and approved within the thirty (30)
day period following Agent's notice to the Lenders of its resignation, then
Agent shall appoint a successor agent that shall serve as agent until such time
as the Required Lenders appoint a successor agent. Upon its appointment, such
successor agent shall succeed to the rights, powers and duties as agent, and the
term "Agent" shall mean such successor effective upon its appointment, and the
former agent's rights, powers and duties as agent shall be terminated without
any other or further act or deed on the part of such former agent or any of the
parties to this Agreement. In the event that the Canadian Funding Agent shall
resign or shall no longer be a Canadian Lender, Agent shall select another
Canadian Lender to serve as successor Canadian Funding Agent and such successor
shall succeed to the rights, powers and duties of Canadian Funding Agent.

      Section 9.11. Canadian Funding Agent. The Lender that acts as the Canadian
Funding Agent from time to time shall be entitled to the same indemnifications
with respect to Borrowers and the other Lenders that Agent would have were it
performing the administrative duties that the Canadian Funding Agent performs
from time to time.

      Section 9.12. Other Agents. As used in this Agreement, the term "Agent"
shall only include Agent.

                            ARTICLE X. MISCELLANEOUS

      Section 10.1. Lenders' Independent Investigation. Each Lender, by its
signature to this Agreement, acknowledges and agrees that Agent and Canadian
Funding Agent have made no representation or warranty, express or implied, with
respect to the creditworthiness, financial condition, or any other condition of
any Company or with respect to the statements contained in any information
memorandum furnished in connection herewith or in any other oral or written
communication between Agent or Canadian Funding Agent and such Lender. Each
Lender represents that it has made and shall continue to make its own
independent investigation of the creditworthiness, financial condition and
affairs of the Companies in connection with the extension of credit hereunder,
and agrees that Agent and Canadian Funding Agent have no duty

                                       79
<PAGE>

or responsibility, either initially or on a continuing basis, to provide any
Lender with any credit or other information with respect thereto (other than
such notices as may be expressly required to be given by Agent or Canadian
Funding Agent to the Lenders hereunder), whether coming into its possession
before the first Credit Event hereunder or at any time or times thereafter. Each
Lender further represents that it has reviewed each of the Loan Documents,
including, but not limited to, the Intercreditor Agreement and the Lender
Agreement.

      Section 10.2. No Waiver; Cumulative Remedies. No omission or course of
dealing on the part of Agent or Canadian Funding Agent, any Lender or the holder
of any Note in exercising any right, power or remedy hereunder or under any of
the Loan Documents shall operate as a waiver thereof; nor shall any single or
partial exercise of any such right, power or remedy preclude any other or
further exercise thereof or the exercise of any other right, power or remedy
hereunder or under any of the Loan Documents. The remedies herein provided are
cumulative and in addition to any other rights, powers or privileges held by
operation of law, by contract or otherwise.

      Section 10.3. Amendments, Consents. No amendment, modification,
termination, or waiver of any provision of any Loan Document nor consent to any
variance therefrom, shall be effective unless the same shall be in writing and
signed by the Required Lenders and then such waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
given; provided that no consent of waiver shall be effective to the extent
additional obligations are imposed on Agent or Canadian Funding Agent (in its
capacity as Agent or Canadian Funding Agent) without its consent. Anything
herein to the contrary notwithstanding, unanimous consent of the Lenders shall
be required with respect to (a) any increase in the Commitment, the US Revolving
Credit Commitment or the Canadian Revolving Credit Commitment, (b) the extension
of maturity of the Loans, the scheduled (but not the date of any mandatory
prepayment) payment date of interest or principal thereunder, or the payment
date of facility, utilization or other fees or amounts payable hereunder, (c)
any reduction in the rate of interest on the Loans (provided that the
institution of the Default Rate and a subsequent removal of the Default Rate
shall not constitute a decrease in interest rate of this Section), or in any
amount of principal or interest due on any Loan, or the payment of facility,
utilization or other fees hereunder or any change in the manner of pro rata
application of any payments made by Borrowers to the Lenders hereunder, other
than as provided in Section 2.14 hereof, (d) any change in any percentage voting
requirement, voting rights, or the Required Lenders definition in this
Agreement, (e) the release of any Borrower or Guarantor of Payment (except in
connection with a merger, disposition or other transaction permitted hereunder),
or (f) any amendment to this Section 10.3 or Section 8.5 or 9.9 hereof. Notice
of amendments or consents ratified by the Lenders hereunder shall be forwarded
by Agent to all of the Lenders. Each Lender or other holder of a Note (or
interest in any Loan) shall be bound by any amendment, waiver or consent
obtained as authorized by this Section, regardless of its failure to agree
thereto.

      Section 10.4. Notices. All notices, requests, demands and other
communications provided for hereunder shall be in writing and, if to a Borrower,
mailed or delivered to it, addressed to it at the address specified on the
signature pages of this Agreement, if to a Lender, mailed or delivered to it,
addressed to the address of such Lender specified on the signature pages of this
Agreement, or, as to each party, at such other address as shall be designated by
such

                                       80
<PAGE>

party in a written notice to each of the other parties. All notices, statements,
requests, demands and other communications provided for hereunder shall be given
by overnight delivery or first class mail with postage prepaid by registered or
certified mail, addressed as aforesaid, or sent by facsimile with telephonic
confirmation of receipt, except that all notices hereunder shall not be
effective until received.

      Section 10.5. Costs, Expenses and Taxes. US Borrower and, to the extent
relating to the Canadian Commitment, Canadian Borrower, agree to pay on demand
all costs and expenses of Agent, including but not limited to, (a) syndication,
administration, travel and out-of-pocket expenses, including but not limited to
attorneys' fees and expenses, of Agent in connection with the preparation,
negotiation and closing of the Intercreditor Agreement, the Lender Agreement and
the Loan Documents, the administration of the Intercreditor Agreement, the
Lender Agreement and the Loan Documents, and the collection and disbursement of
all funds hereunder and the other instruments and documents to be delivered
hereunder, (b) extraordinary expenses of Agent in connection with the
administration of the Intercreditor Agreement, the Lender Agreement and the Loan
Documents and the other instruments and documents to be delivered hereunder, (c)
the reasonable fees and out-of-pocket expenses of special counsel for Agent,
with respect to the foregoing, and of local counsel, if any, who may be retained
by said special counsel with respect thereto, and (d) the reasonable fees and
out-of-pocket expenses of counsel to Canadian Funding Agent incurred in
connection with the Lender Agreement and the Loan Documents. US Borrower and, to
the extent relating to the Canadian Commitment, Canadian Borrower, also agree to
pay on demand all costs and expenses of Agent and the Lenders, including
reasonable attorneys' fees, in connection with the restructuring or enforcement
of the Obligations, this Agreement, the Intercreditor Agreement, the Lender
Agreement or any Related Writing. In addition, US Borrower and, to the extent
relating to the Canadian Commitment, Canadian Borrower, shall pay any and all
stamp and other taxes and fees payable or determined to be payable in connection
with the execution and delivery of the Loan Documents, and the other instruments
and documents to be delivered hereunder, and agree to hold Agent, Canadian
Funding Agent and each Lender harmless from and against any and all liabilities
with respect to or resulting from any delay in paying or failure to pay such
taxes or fees.

      Section 10.6. Indemnification.

      (a) US Borrower. Subject to subpart (c) below, US Borrower agrees to
defend, indemnify and hold harmless Agent, Canadian Funding Agent and the US
Lenders (and their respective affiliates, officers, directors, attorneys, agents
and employees) from and against any and all liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, costs, expenses (including
attorneys' fees) or disbursements of any kind or nature whatsoever that may be
imposed on, incurred by or asserted against Agent, Canadian Funding Agent or any
Lender in connection with any investigative, administrative or judicial
proceeding (whether or not such Lender, Agent or Canadian Funding Agent shall be
designated a party thereto) or any other claim by any Person relating to or
arising out of the Intercreditor Agreement, the Lender Agreement and any Loan
Document or any actual or proposed use of proceeds of the Loans or any of the
Obligations, or any activities of any Company or its Affiliates.

                                       81
<PAGE>

      (b) Canadian Borrower. Subject to subpart (c) below, Canadian Borrower
agrees to defend, indemnify and hold harmless Agent, Canadian Funding Agent and
the Canadian Lenders (and their respective affiliates, officers, directors,
attorneys, agents and employees) from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses (including reasonable attorneys' fees) or disbursements of any kind or
nature whatsoever that may be imposed on, incurred by or asserted against Agent,
Canadian Funding Agent or any Canadian Lender in connection with any
investigative, administrative or judicial proceeding (whether or not such
Canadian Lender, Canadian Funding Agent or Agent shall be designated a party
thereto) or any other claim by any Person relating to or arising out of the
Intercreditor Agreement, the Lender Agreement and any Loan Document executed by
Canadian Borrower or any actual or proposed use of proceeds of the Canadian
Revolving Loans or the Canadian Swing Loans to Canadian Borrower or any of the
Applicable Debt, or any activities of any Company or its Affiliates in
connection with the Canadian Commitment.

      (c) Generally. None of Agent, Canadian Funding Agent or any Lender shall
have the right to be indemnified under this Section for its own gross negligence
or willful misconduct, as determined by a court of competent jurisdiction. All
obligations provided for in this Section 10.6 shall survive any termination of
this Agreement.

      Section 10.7. Obligations Several; No Fiduciary Obligations. The
obligations of the Lenders hereunder are several and not joint. Nothing
contained in this Agreement and no action taken by Agent, Canadian Funding Agent
or the Lenders pursuant hereto shall be deemed to constitute Agent, Canadian
Funding Agent or the Lenders a partnership, association, joint venture or other
entity. No default by any Lender hereunder shall excuse the other Lenders from
any obligation under this Agreement; but no Lender shall have or acquire any
additional obligation of any kind by reason of such default. The relationship
between Borrowers and the Lenders with respect to the Loan Documents and the
Related Writings is and shall be solely that of debtors and creditors,
respectively, and neither Agent or Canadian Funding Agent, nor any Lender shall
have any fiduciary obligation toward any Credit Party with respect to any such
documents or the transactions contemplated thereby.

      Section 10.8. Execution in Counterparts. This Agreement may be executed in
any number of counterparts and by different parties hereto in separate
counterparts, and by facsimile signature, each of which counterparts when so
executed and delivered shall be deemed to be an original and all of which taken
together shall constitute but one and the same agreement.

      Section 10.9. Binding Effect; Borrowers' Assignment. This Agreement shall
become effective when it shall have been executed by each Borrower, Agent,
Canadian Funding Agent and each Lender and thereafter shall be binding upon and
inure to the benefit of each Borrower, Agent, Canadian Funding Agent and each of
the Lenders and their respective successors and assigns, except that no Borrower
shall have the right to assign its rights hereunder or any interest herein
without the prior written consent of Agent and all of the Lenders.

      Section 10.10. Lender Assignments.

                                       82
<PAGE>

      (a) Assignments of Commitments. Each Lender shall have the right at any
time or times to assign to an Eligible Transferee (other than to a Lender that
shall not be in compliance with this Agreement), without recourse, all or a
percentage of all of the following: (i) such Lender's Commitment, (ii) all Loans
made by that Lender, (iii) such Lender's Notes, and (iv) such Lender's interest
in any Letter of Credit or Swing Loan, and any participation purchased pursuant
to Section 2.2(b), 2.2(c) or 8.5 hereof.

      (b) Prior Consent. No assignment may be consummated pursuant to this
Section 10.10 without the prior written consent of US Borrower and Agent (other
than an assignment by any Lender to another Lender or to any affiliate of such
Lender which affiliate is an Eligible Transferee and either wholly-owned by a
Lender or is wholly-owned by a Person that wholly owns, either directly or
indirectly, such Lender), which consent of US Borrower and Agent shall not be
unreasonably withheld; provided, however, that the consent of US Borrower shall
not be required if, at the time of the proposed assignment, any Event of Default
shall then exist. Anything herein to the contrary notwithstanding, any Lender
may at any time make a collateral assignment of all or any portion of its rights
under the Loan Documents to a Federal Reserve Bank, and no such assignment shall
release such assigning Lender from its obligations hereunder.

      (c) Minimum Amount. Each such assignment shall be in a minimum amount of
the lesser of Five Million Dollars ($5,000,000) of the assignor's Commitment and
interest herein, or the entire amount of the assignor's Commitment and interest
herein.

      (d) Assignment Fee. Unless the assignment shall be to an affiliate of the
assignor or the assignment shall be due to merger of the assignor or for
regulatory purposes, either the assignor or the assignee shall remit to Agent,
for its own account, an administrative fee of Three Thousand Five Hundred
Dollars ($3,500).

      (e) Assignment Agreement. Unless the assignment shall be due to merger of
the assignor or a collateral assignment for regulatory purposes, the assignor
shall (i) cause the assignee to execute and deliver to US Borrower and Agent an
Assignment Agreement, and (ii) execute and deliver, or cause the assignee to
execute and deliver, as the case may be, to Agent such additional amendments,
assurances and other writings as Agent may reasonably require.

      (f) Non-U.S. Assignee. If the assignment is to be made in respect of the
US Commitment to an assignee that is organized under the laws of any
jurisdiction other than the United States or any state thereof, the assignor US
Lender shall cause such assignee, at least five Business Days prior to the
effective date of such assignment, (i) to represent to the assignor US Lender
(for the benefit of the assignor US Lender, Agent and the Credit Parties) that
under applicable law and treaties no taxes will be required to be withheld by
Agent, the Credit Parties or the assignor with respect to any payments to be
made to such assignee in respect of the Loans hereunder, (ii) to furnish to the
assignor US Lender (and, in the case of any assignee registered in the Register
(as defined below), Agent and the Credit Parties) either U.S. Internal Revenue
Service Form W-8ECI or U.S. Internal Revenue Service Form W-8BEN, as applicable
(wherein such assignee claims entitlement to complete exemption from U.S.
federal withholding tax on all payments hereunder), and (iii) to agree (for the
benefit of the assignor, Agent and the Credit

                                       83
<PAGE>

Parties) to provide to the assignor US Lender (and, in the case of any assignee
registered in the Register, to Agent and the Credit Parties) a new Form W-8ECI
or Form W-8BEN, as applicable, upon the expiration or obsolescence of any
previously delivered form and comparable statements in accordance with
applicable U.S. laws and regulations and amendments duly executed and completed
by such assignee, and to comply from time to time with all applicable U.S. laws
and regulations with regard to such withholding tax exemption.

      (g) Deliveries by Borrowers. Upon satisfaction of all applicable
requirements specified in subsections (a) through (f) above, Borrowers shall
execute and deliver (i) to Agent, the assignor and the assignee, any consent or
release (of all or a portion of the obligations of the assignor) required to be
delivered by Borrowers in connection with the Assignment Agreement, and (ii) to
the assignee and the assignor, if applicable, an appropriate Note or Notes.
After delivery of the new Note or Notes, the assignor's Note or Notes being
replaced shall be returned to US Borrower marked "replaced".

      (h) Effect of Assignment. Upon satisfaction of all applicable requirements
set forth in subsections (a) through (g) above, and any other condition
contained in this Section 10.10, (i) the assignee shall become and thereafter be
deemed to be a "Lender" for the purposes of this Agreement, (ii) the assignor
shall be released from its obligations hereunder to the extent that its interest
has been assigned, (iii) in the event that the assignor's entire interest has
been assigned, , the assignor shall cease to be and thereafter shall no longer
be deemed to be a "Lender" and (iv) the signature pages hereto and Schedule 1
hereto shall be automatically amended, without further action, to reflect the
result of any such assignment.

      (i) Agent to Maintain Register. Agent shall maintain at the address for
notices referred to in Section 10.4 hereof a copy of each Assignment Agreement
delivered to it and a register (the "Register") for the recordation of the names
and addresses of the Lenders and the Commitment of, and principal amount of the
Loans owing to, each Lender from time to time. The entries in the Register shall
be conclusive, in the absence of manifest or demonstrable error, and Borrowers,
Agent and the Lenders may treat each Person whose name is recorded in the
Register as the owner of the Loan recorded therein for all purposes of this
Agreement. The Register shall be available for inspection by Borrowers or any
Lender at any reasonable time and from time to time upon reasonable prior
notice.

      Section 10.11. Sale of Participations. Any Lender may, in the ordinary
course of its commercial banking business and in accordance with applicable law,
at any time sell participations to one or more Eligible Transferees (each a
"Participant") in all or a portion of its rights or obligations under this
Agreement and the other Loan Documents (including, without limitation, all or a
portion of the Commitment and the Loans and participations owing to it and the
Note held by it); provided that:

      (a) any such Lender's obligations under this Agreement and the other Loan
Documents shall remain unchanged;

      (b) such Lender shall remain solely responsible to the other parties
hereto for the performance of such obligations;

                                       84
<PAGE>

      (c) the parties hereto shall continue to deal solely and directly with
such Lender in connection with such Lender's rights and obligations under this
Agreement and each of the other Loan Documents;

      (d) such Participant shall be bound by the provisions of Section 8.5
hereof, and the Lender selling such participation shall obtain from such
Participant a written confirmation of its agreement to be so bound; and

      (e) no Participant (unless such Participant is itself a Lender) shall be
entitled to require such Lender to take or refrain from taking action under this
Agreement or under any other Loan Document, except that such Lender may agree
with such Participant that such Lender will not, without such Participant's
consent, take action of the type described as follows:

            (i) increase the portion of the participation amount of any
      Participant over the amount thereof then in effect, or extend the
      Commitment Period, without the written consent of each Participant
      affected thereby; or

            (ii) reduce the principal amount of or extend the time for any
      payment of principal of any Loan, or reduce the rate of interest or extend
      the time for payment of interest on any Loan, or reduce the facility or
      utilization fee, without the written consent of each Participant affected
      thereby.

Borrowers agree that any Lender that sells participations pursuant to this
Section 10.11 shall still be entitled to the benefits of Article III hereof,
notwithstanding any such transfer; provided, however, that the obligations of
Borrowers shall not increase as a result of such transfer and Borrowers shall
have no obligation to any Participant.

      Section 10.12. Severability of Provisions; Captions; Attachments. Any
provision of this Agreement that shall be prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof or affecting the validity or enforceability of such provision
in any other jurisdiction. The several captions to Sections and subsections
herein are inserted for convenience only and shall be ignored in interpreting
the provisions of this Agreement. Each schedule or exhibit attached to this
Agreement shall be incorporated herein and shall be deemed to be a part hereof.

      Section 10.13. Investment Purpose. Each of the Lenders represents and
warrants to Borrowers that it is entering into this Agreement with the present
intention of acquiring any Note issued pursuant hereto for investment purposes
only and not for the purpose of distribution or resale, it being understood,
however, that each Lender shall at all times retain full control over the
disposition of its assets.

      Section 10.14. Entire Agreement. This Agreement, any Note and any other
Loan Document or other agreement, document or instrument attached hereto or
executed on or as of the Closing Date integrate all the terms and conditions
mentioned herein or incidental hereto and

                                       85
<PAGE>

supersede all oral representations and negotiations and prior writings with
respect to the subject matter hereof.

      Section 10.15. Confidentiality. Agent, Canadian Funding Agent and each
Lender shall hold all Confidential Information in accordance with the customary
procedures of Agent, Canadian Funding Agent or such Lender for handling
confidential information of this nature, and in accordance with safe and sound
banking practices. Notwithstanding the foregoing, Agent, Canadian Funding Agent
or any Lender may in any event make disclosures of, and furnish copies of
Confidential Information (a) to another agent under this Agreement or another
Lender; (b) when reasonably required by any bona fide transferee or participant
in connection with the contemplated transfer of any Loans or Commitment or
participation therein (provided that each such prospective transferee or
participant shall execute an agreement for the benefit of Borrowers with such
prospective transferor Lender or participant containing provisions substantially
identical to those contained in this Section 10.15); (c) to the parent
corporation or other affiliates of Agent, Canadian Funding Agent or such Lender,
and to their respective auditors and attorneys; and (d) as required or requested
by any Governmental Authority or representative thereof, or pursuant to legal
process, provided, that, unless specifically prohibited by applicable law or
court order, Agent, Canadian Funding Agent or such Lender, as applicable, shall
notify the chief financial officer of US Borrower of any request by any
Governmental Authority or representative thereof (other than any such request in
connection with an examination of the financial condition of Agent, Canadian
Funding Agent or such Lender by such Governmental Authority), and of any other
request pursuant to legal process for disclosure of any such non-public
information prior to disclosure of such Confidential Information. In no event
shall Agent, Canadian Funding Agent or any Lender be obligated or required to
return any materials furnished by or on behalf of any Company. Each Borrower
hereby agrees that the failure of Agent, Canadian Funding Agent or any Lender to
comply with the provisions of this Section 10.15 shall not relieve any Borrower
of any of the obligations to Agent, Canadian Funding Agent and the Lenders under
this Agreement and the other Loan Documents.

      Section 10.16. Legal Representation of Parties. The Loan Documents were
negotiated by the parties with the benefit of legal representation and any rule
of construction or interpretation otherwise requiring this Agreement or any
other Loan Document to be construed or interpreted against any party shall not
apply to any construction or interpretation hereof or thereof.

      Section 10.17. Currency.

      (a) Currency Equivalent Generally. For the purposes of making valuations
or computations under this Agreement (but not for the purposes of the
preparation of any financial statements delivered pursuant hereto), unless
expressly provided otherwise, where a reference is made to a dollar amount the
amount is to be considered as the amount in Dollars and, therefor, each other
currency shall be converted into the Dollar Equivalent.

      (b) Judgment Currency. If Agent, on behalf of the Lenders, obtains a
judgment or judgments against any Credit Party in Canadian Dollars or an
Alternate Currency, in respect of obligations denominated in Dollars, the
obligations of such Credit Party in respect of any sum

                                       86
<PAGE>

adjudged to be due to Agent or the Lenders hereunder or under the Notes (the
"Judgment Amount") shall be discharged only to the extent that, on the Business
Day following receipt by Agent of the Judgment Amount in Canadian Dollars or
such Alternate Currency, Agent, in accordance with normal banking procedures,
purchases Dollars with the Judgment Amount in Canadian Dollars or such Alternate
Currency. If the amount of Dollars so purchased is less than the amount of
Dollars that could have been purchased with the Judgment Amount on the date or
dates the Judgment Amount (excluding the portion of the Judgment Amount that has
accrued as a result of the failure of such Credit Party to pay the sum
originally due hereunder or under the Notes when it was originally due and owing
to Agent or the Lenders hereunder or under the Notes) was originally due and
owing to Agent or the Lenders hereunder or under the Notes (the "Original Due
Date") (the "Loss"), such Credit Party agrees as a separate obligation and
notwithstanding any such judgment, to indemnify Agent or such Lender, as the
case may be, against the Loss, and if the amount of Dollars so purchased exceeds
the amount of Dollars that could have been purchased with the Judgment Amount on
the Original Due Date, Agent or such Lender agrees to remit such excess to such
Credit Party.

      Section 10.18. Governing Law; Submission to Jurisdiction. This Agreement,
each of the Notes and any Related Writing shall be governed by and construed in
accordance with the laws of the State of Ohio and the respective rights and
obligations of Borrowers, Agent, and the Lenders shall be governed by Ohio law,
without regard to principles of conflict of laws. Each Borrower hereby
irrevocably submits to the non-exclusive jurisdiction of any Ohio state or
federal court sitting in Cleveland, Ohio, over any action or proceeding arising
out of or relating to this Agreement, the Obligations or any Related Writing,
and each Borrower hereby irrevocably agrees that all claims in respect of such
action or proceeding may be heard and determined in such Ohio state or federal
court. Each Borrower, on behalf of itself and its Subsidiaries, hereby
irrevocably waives, to the fullest extent permitted by law, any objection it may
now or hereafter have to the laying of venue in any action or proceeding in any
such court as well as any right it may now or hereafter have to remove such
action or proceeding, once commenced, to another court on the grounds of FORUM
NON CONVENIENS or otherwise. Each Borrower agrees that a final, nonappealable
judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law.

                  [Remainder of page left intentionally blank]

                                       87
<PAGE>

      Section 10.19. JURY TRIAL WAIVER. TO THE EXTENT PERMITTED BY LAW, EACH
BORROWER, AGENT, CANADIAN FUNDING AGENT AND EACH LENDER WAIVE ANY RIGHT TO HAVE
A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT
OR OTHERWISE, AMONG BORROWERS, AGENT, CANADIAN FUNDING AGENT AND THE LENDERS, OR
ANY THEREOF, ARISING OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO
THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AGREEMENT OR ANY
NOTE OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN
CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO.

      IN WITNESS WHEREOF, the parties have executed and delivered this Credit
Agreement as of the date first set forth above.

Address: One Strawberry Lane                 THE J. M. SMUCKER COMPANY
         Orrville, Ohio 44667
         Attention: Treasurer                By: /s/ Mark R. Belgya
                                                 -------------------
                                                 Mark R. Belgya
                                                 Vice President and Treasurer

Address: One Strawberry Lane                 J.M. SMUCKER (CANADA) INC.
         Orrville, Ohio 44667
         Attention: Treasurer                By: /s/ Mark R. Belgya
                                                 -------------------
                                                 Mark R. Belgya
                                                 Treasurer

Address: 127 Public Square                   KEYBANK NATIONAL ASSOCIATION,
         Cleveland, Ohio 44114-1306           as Agent and as a Lender
         Attention: Institutional Banking
                                             By: /s/ Lawrence A. Mack
                                                 ---------------------
                                             Name:  Lawrence A. Mack
                                             Title: Sr. Vice President

                                 Signature Page
                         1 of 2 of the Credit Agreement

<PAGE>

Address: 1 First Canadian Place, 19th Floor      BANK OF MONTREAL,
         Toronto, Ontario M5X1A1,                 as Canadian Funding Agent,
         Attention: Manager, Global               Documentation Agent and as a
                    Distribution Services         Lender

                                                 By: /s/ Ben Ciallella
                                                     ---------------------------
                                                 Name: Ben Ciallella
                                                 Title: Vice President

Address: 1404 East Ninth Street                  FIFTH THIRD BANK
         Cleveland, Ohio 44114
         Attention: Martin McGinty               By: /s/ Martin McGinty
                                                     ---------------------------
                                                     Martin McGinty
                                                     Vice President

Address: 1300 East Ninth Street, Suite 1000      LASALLE BANK NATIONAL
         Cleveland, Ohio 44114                   ASSOCIATION
         Attn: Commercial Lending
                                                 By: /s/ Patrick F. Dunphy
                                                     ---------------------------
                                                     Patrick F. Dunphy
                                                     Senior Vice President

Address: 79 Wellington Street West               LASALLE BUSINESS CREDIT,
         Suite 1500                               A DIVISION OF ABN AMRO BANK
         P.O. Box 114                             N.V., CANADA BRANCH
         Toronto Dominion Centre
         Toronto, Ontario                        By: /s/ Darcy Mack/Keith Hughes
         M5K 1G8                                     ---------------------------
         Attention: LaSalle Business Credit      Name: Darcy Mack / Keith Hughes
                                                 Title: V.P., Asset Based
                                                 Lending / Senior Vice President

Address: 111 West Monroe Street                  HARRIS TRUST AND SAVINGS BANK
         Chicago, Illinois 60603-4095
         Attention: Food Group                   By: /s/ Erica T. Kuhlmann
                                                     ---------------------------
                                                 Name: Erica T. Kuhlmann
                                                 Title: Managing Director

                                 Signature Page
                         2 of 2 of the Credit Agreement

<PAGE>

                                   SCHEDULE 1

<TABLE>
<CAPTION>
                                          US REVOLVING        US REVOLVING
                                             CREDIT             CREDIT
                                           COMMITMENT          COMMITMENT
      US LENDERS                           PERCENTAGE            AMOUNT            MAXIMUM AMOUNT
      ----------                           ----------            ------            --------------
<S>                                       <C>                 <C>                  <C>
KeyBank National Association                   54.55%         $ 60,000,000         $ 60,000,000
Fifth Third Bank                               27.27%         $ 30,000,000         $ 30,000,000
LaSalle Bank National Association              13.64%         $ 15,000,000         $ 15,000,000
Harris Trust and Savings Bank                   4.54%         $  5,000,000         $  5,000,000
                                              ------          ------------         ------------
Maximum US Revolving Amount                   100.00%         $110,000,000         $110,000,000
                                              ------          ------------         ------------
</TABLE>

<TABLE>
<CAPTION>
                                          CANADIAN          CANADIAN
                                          REVOLVING         REVOLVING
                                           CREDIT             CREDIT
                                          COMMITMENT        COMMITMENT
   CANADIAN LENDERS                       PERCENTAGE          AMOUNT          MAXIMUM AMOUNT
   ----------------                       ----------          ------          --------------
<S>                                       <C>               <C>               <C>
Bank of Montreal                            71.43%          $50,000,000        $ 50,000,000
LaSalle Business Credit, a division of
   ABN AMRO Bank N.V., Canada
   Branch                                   28.57%          $20,000,000        $ 20,000,000
                                           ------           -----------        ------------
Maximum Canadian Revolving Amount          100.00%          $70,000,000        $ 70,000,000
                                           ------           -----------        ------------
TOTAL COMMITMENT AMOUNT                                                        $180,000,000
                                                                               ------------
</TABLE>

                                       S-1
<PAGE>

                                    EXHIBIT A
                                     FORM OF
                            US REVOLVING CREDIT NOTE

$ __________________________                                    Cleveland, Ohio
                                                                  June 18, 2004

         FOR VALUE RECEIVED, the undersigned, THE J. M. SMUCKER COMPANY, an Ohio
corporation ("US Borrower"), promises to pay, on the last day of the Commitment
Period, as defined in the Credit Agreement (as hereinafter defined), to the
order of _______ ("Lender") at the main office of KEYBANK NATIONAL ASSOCIATION,
as Agent, as hereinafter defined, 127 Public Square, Cleveland, Ohio 44114-1306
the principal sum of

[__________________] AND 00/100                                          DOLLARS

or the aggregate unpaid principal amount of all US Revolving Loans, as defined
in the Credit Agreement made by Lender to US Borrower pursuant to Section 2.2 of
the Credit Agreement, whichever is less, in lawful money of the United States of
America; provided that US Revolving Loans that are Alternate Currency Loans, as
defined in the Credit Agreement, shall be payable in the applicable Alternate
Currency, as defined in the Credit Agreement. US Borrower also agrees to pay any
additional amount that is required to be paid pursuant to Section 10.17 of the
Credit Agreement.

      As used herein, "Credit Agreement" means the Credit Agreement dated as of
June 18, 2004, among US Borrower and Canadian Borrower, as defined therein, the
Lenders, as defined therein, KeyBank National Association, as lead arranger and
administrative agent for the Lenders ("Agent"), and Bank of Montreal, as the
Canadian funding agent and documentation agent, as the same may from time to
time be amended, restated or otherwise modified. Each capitalized term used
herein that is defined in the Credit Agreement and not otherwise defined herein
shall have the meaning ascribed to it in the Credit Agreement.

      US Borrower also promises to pay interest on the unpaid principal amount
of each US Revolving Loan from time to time outstanding, from the date of such
US Revolving Loan until the payment in full thereof, at the rates per annum that
shall be determined in accordance with the provisions of Section 2.4(a) of the
Credit Agreement. Such interest shall be payable on each date provided for in
such Section 2.4(a); provided, however, that interest on any principal portion
that is not paid when due shall be payable on demand.

      The portions of the principal sum hereof from time to time representing US
Base Rate Loans, US Eurodollar Loans and Alternate Currency Loans, and payments
of principal of any thereof, shall be shown on the records of Lender by such
method as Lender may generally employ; provided, however, that failure to make
any such entry shall in no way detract from the obligations of US Borrower under
this Note.

                                       E-1
<PAGE>

      If this Note shall not be paid at maturity, whether such maturity occurs
by reason of lapse of time or by operation of any provision for acceleration of
maturity contained in the Credit Agreement, the principal hereof and the unpaid
interest thereon shall bear interest, until paid, at a rate per annum equal to
the Default Rate, if required by Section 2.4(e) of the Credit Agreement. All
payments of principal of and interest on this Note shall be made in immediately
available funds.

      This Note is one of the US Revolving Credit Notes referred to in the
Credit Agreement. Reference is made to the Credit Agreement for a description of
the right of the undersigned to anticipate payments hereof, the right of the
holder hereof to declare this Note due prior to its stated maturity, and other
terms and conditions upon which this Note is issued. This Note shall be governed
by and construed in accordance with the laws of the State of Ohio, without
regard to principles of conflicts of laws.

      Except as expressly provided in the Credit Agreement, US Borrower
expressly waives presentment, demand, protest and notice of any kind.

      JURY TRIAL WAIVER. US BORROWER, TO THE EXTENT PERMITTED BY LAW, HEREBY
WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG US BORROWER, CANADIAN BORROWER,
AGENT AND THE LENDERS, OR ANY THEREOF, ARISING OUT OF, IN CONNECTION WITH,
RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN
CONNECTION WITH THE CREDIT AGREEMENT, THIS NOTE OR ANY OTHER NOTE OR OTHER
INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH
OR THE TRANSACTIONS RELATED THERETO.

                                                       THE J. M. SMUCKER COMPANY

                                                       By: _____________________
                                                       Name: ___________________
                                                       Title: __________________

                                       E-2
<PAGE>

                                    EXHIBIT B
                                     FORM OF
                               US SWING LINE NOTE

$ 15,000,000                                                     Cleveland, Ohio
                                                                   June 18, 2004

      FOR VALUE RECEIVED, the undersigned, THE J. M. SMUCKER COMPANY, an Ohio
corporation ("US Borrower"), promises to pay, on the last day of the Commitment
Period, as defined in the Credit Agreement (as hereinafter defined), to the
order of KEYBANK NATIONAL ASSOCIATION ("US Swing Line Lender") at the main
office of KEYBANK NATIONAL ASSOCIATION, as Agent, as hereinafter defined, 127
Public Square, Cleveland, Ohio 44114-1306 the principal sum of

FIFTEEN MILLION AND 00/100                                               DOLLARS

or the aggregate unpaid principal amount of all US Swing Loans, as defined in
the Credit Agreement (as hereinafter defined) made by US Swing Line Lender to US
Borrower pursuant to Section 2.2(c) of the Credit Agreement, whichever is less,
in lawful money of the United States of America on the earlier of the last day
of the Commitment Period, as defined in the Credit Agreement, or, with respect
to each US Swing Loan, the Swing Loan Maturity Date applicable thereto

      As used herein, "Credit Agreement" means the Credit Agreement dated as of
June 18, 2004, among US Borrower and Canadian Borrower, as defined therein, the
Lenders, as defined therein, KeyBank National Association, as lead arranger and
administrative agent for the Lenders ("Agent"), and Bank of Montreal, as the
Canadian funding agent and documentation agent, as the same may from time to
time be amended, restated or otherwise modified. Each capitalized term used
herein that is defined in the Credit Agreement and not otherwise defined herein
shall have the meaning ascribed to it in the Credit Agreement.

      US Borrower also promises to pay interest on the unpaid principal amount
of each US Swing Loan from time to time outstanding, from the date of such US
Swing Loan until the payment in full thereof, at the rates per annum that shall
be determined in accordance with the provisions of Section 2.4(b) of the Credit
Agreement. Such interest shall be payable on each date provided for in such
Section 2.4(b); provided, however, that interest on any principal portion which
is not paid when due shall be payable on demand.

      The principal sum hereof from time to time and the payments of principal
and interest thereon, shall be shown on the records of US Swing Line Lender by
such method as US Swing Line Lender may generally employ; provided, however,
that failure to make any such entry shall in no way detract from the obligation
of US Borrower under this Note.

      If this Note shall not be paid at maturity, whether such maturity occurs
by reason of lapse of time or by operation of any provision for acceleration of
maturity contained in the Credit Agreement, the principal hereof and the unpaid
interest thereon shall bear interest, until paid, at a

                                       E-3
<PAGE>

rate per annum equal to the Default Rate, if required by Section 2.4(e) of the
Credit Agreement. All payments of principal of and interest on this Note shall
be made in immediately available funds.

      This Note is the US Swing Line Note referred to in the Credit Agreement.
Reference is made to the Credit Agreement for a description of the right of the
undersigned to anticipate payments hereof, the right of the holder hereof to
declare this Note due prior to its stated maturity, and other terms and
conditions upon which this Note is issued. This Note shall be governed by and
construed in accordance with the laws of the State of Ohio, without regard to
principles of conflicts of laws.

      Except as expressly provided in the Credit Agreement, US Borrower
expressly waives presentment, demand, protest and notice of any kind.

      JURY TRIAL WAIVER. US BORROWER, TO THE EXTENT PERMITTED BY LAW, HEREBY
WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG US BORROWER, CANADIAN BORROWER,
AGENT AND THE LENDERS, OR ANY THEREOF, ARISING OUT OF, IN CONNECTION WITH,
RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN
CONNECTION WITH THE CREDIT AGREEMENT, THIS NOTE OR ANY OTHER NOTE OR OTHER
INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH
OR THE TRANSACTIONS RELATED THERETO.

                                                       THE J. M. SMUCKER COMPANY

                                                       By: _____________________
                                                       Name: ___________________
                                                       Title: __________________

                                       E-4
<PAGE>

                                    EXHIBIT C
                                     FORM OF
                         CANADIAN REVOLVING CREDIT NOTE

$____________                                                    Cleveland, Ohio
                                                                   June 18, 2004

      FOR VALUE RECEIVED, the undersigned, J.M. SMUCKER (CANADA) INC., a
corporation incorporated under the laws of Canada ("Canadian Borrower"),
promises to pay, on the last day of the Commitment Period, as defined in the
Credit Agreement (as hereinafter defined), to the order of _______ ("Lender") at
the Designated Lending Office, as defined in the Credit Agreement, the principal
sum of

[__________________] AND 00/100                                          DOLLARS

or the Dollar Equivalent of the aggregate unpaid principal amount of all
Canadian Revolving Loans, as defined in the Credit Agreement made by Canadian
Lender to Canadian Borrower pursuant to Section 2.3(a) of the Credit Agreement,
whichever is less, in lawful money of the United States of America; provided
that Canadian Revolving Loans that are Canadian CAD Base Rate Loans or CAD CDOR
Loans, as each such term is defined in the Credit Agreement, shall be payable in
Canadian Dollars. Canadian Borrower also agrees to pay any additional amount
that is required to be paid pursuant to Section 10.17 of the Credit Agreement.

      As used herein, "Credit Agreement" means the Credit Agreement dated as of
June 18, 2004, among US Borrower and Canadian Borrower, as defined therein, the
Lenders, as defined therein, KeyBank National Association, as lead arranger and
administrative agent for the Lenders ("Agent"), and Bank of Montreal, as the
Canadian funding agent and documentation agent, as the same may from time to
time be amended, restated or otherwise modified. Each capitalized term used
herein that is defined in the Credit Agreement and not otherwise defined herein
shall have the meaning ascribed to it in the Credit Agreement.

      Canadian Borrower also promises to pay interest on the unpaid principal
amount of each Canadian Revolving Loan from time to time outstanding, from the
date of such Canadian Revolving Loan until the payment in full thereof, at the
rates per annum that shall be determined in accordance with the provisions of
Section 2.4(c) of the Credit Agreement. Such interest shall be payable on each
date provided for in such Section 2.4(c); provided, however, that interest on
any principal portion that is not paid when due shall be payable on demand.

      The portions of the principal sum hereof from time to time representing
Canadian CAD Base Rate Loans, Canadian USD Base Rate Loans, Canadian Eurodollar
Loans and CAD CDOR Loans, and payments of principal of any thereof, shall be
shown on the records of Lender by such method as Lender may generally employ;
provided, however, that failure to make any such entry shall in no way detract
from the obligations of Canadian Borrower under this Note.

      If this Note shall not be paid at maturity, whether such maturity occurs
by reason of lapse of time or by operation of any provision for acceleration of
maturity contained in the Credit Agreement, the principal hereof and the unpaid
interest thereon shall bear interest, until paid, at a

                                       E-5
<PAGE>

rate per annum equal to the Default Rate, if required by Section 2.4(e) of the
Credit Agreement. All payments of principal of and interest on this Note shall
be made in immediately available funds.

      This Note is one of the Canadian Revolving Credit Notes referred to in the
Credit Agreement. Reference is made to the Credit Agreement for a description of
the right of the undersigned to anticipate payments hereof, the right of the
holder hereof to declare this Note due prior to its stated maturity, and other
terms and conditions upon which this Note is issued. This Note shall be governed
by and construed in accordance with the laws of the State of Ohio, without
regard to principles of conflicts of laws.

      Except as expressly provided in the Credit Agreement, Canadian Borrower
expressly waives presentment, demand, protest and notice of any kind.

      JURY TRIAL WAIVER. CANADIAN BORROWER, TO THE EXTENT PERMITTED BY LAW,
HEREBY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE,
WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG US BORROWER, CANADIAN
BORROWER, AGENT, CANADIAN FUNDING AGENT AND THE LENDERS, OR ANY THEREOF, ARISING
OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP
ESTABLISHED AMONG THEM IN CONNECTION WITH THE CREDIT AGREEMENT, THIS NOTE OR ANY
OTHER NOTE OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN
CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO.

                                                      J.M. SMUCKER (CANADA) INC.

                                                      By: _____________________
                                                      Name: ___________________
                                                      Title: __________________

                                       E-6
<PAGE>

                                    EXHIBIT D
                                     FORM OF
                            CANADIAN SWING LINE NOTE

$10,000,000                                                      Cleveland, Ohio
                                                                   June 18, 2004

      FOR VALUE RECEIVED, the undersigned, J.M. SMUCKER (CANADA) INC., a
corporation incorporated under the laws of Canada ("Canadian Borrower"),
promises to pay, on the last day of the Commitment Period, as defined in the
Credit Agreement (as hereinafter defined), to the order of BANK OF MONTREAL
("Canadian Swing Line Lender") at the Designated Lending Office, as defined in
the Credit Agreement, the principal sum of

TEN MILLION AND 00/100                                                  DOLLARS

or the Dollar Equivalent of the aggregate unpaid principal amount of all
Canadian Swing Loans, as defined in the Credit Agreement made by the Canadian
Swing Line Lender to Canadian Borrower pursuant to Section 2.3(b) of the Credit
Agreement, whichever is less, in lawful money of the United States of America on
the earlier of the last day of the Commitment Period, as defined in the Credit
Agreement, or, with respect to each Canadian Swing Loan, the Swing Loan Maturity
Date applicable thereto; provided that Canadian CAD Swing Loans shall be payable
in Canadian Dollars. Canadian Borrower also agrees to pay any additional amount
that is required to be paid pursuant to Section 10.17 of the Credit Agreement.

      As used herein, "Credit Agreement" means the Credit Agreement dated as of
June 18, 2004, among US Borrower and Canadian Borrower, as defined therein, the
Lenders, as defined therein, KeyBank National Association, as lead arranger and
administrative agent for the Lenders ("Agent"), and Bank of Montreal, as the
Canadian funding agent and documentation agent, as the same may from time to
time be amended, restated or otherwise modified. Each capitalized term used
herein that is defined in the Credit Agreement and not otherwise defined herein
shall have the meaning ascribed to it in the Credit Agreement.

      Canadian Borrower also promises to pay interest on the unpaid principal
amount of each Canadian Swing Loan from time to time outstanding, from the date
of such Canadian Swing Loan until the payment in full thereof, at the rates per
annum that shall be determined in accordance with the provisions of Section
2.4(d) of the Credit Agreement. Such interest shall be payable on each date
provided for in such Section 2.4(d); provided, however, that interest on any
principal portion which is not paid when due shall be payable on demand.

      The principal sum hereof from time to time and the payments of principal
and interest thereon, shall be shown on the records of Canadian Swing Line
Lender by such method as Canadian Swing Line Lender may generally employ;
provided, however, that failure to make any such entry shall in no way detract
from the obligation of Canadian Borrower under this Note.

      If this Note shall not be paid at maturity, whether such maturity occurs
by reason of lapse of time or by operation of any provision for acceleration of
maturity contained in the Credit

                                       E-7
<PAGE>

Agreement, the principal hereof and the unpaid interest thereon shall bear
interest, until paid, at a rate per annum equal to the Default Rate, if required
by Section 2.4(e) of the Credit Agreement. All payments of principal of and
interest on this Note shall be made in immediately available funds.

      This Note is the Canadian Swing Line Note referred to in the Credit
Agreement. Reference is made to the Credit Agreement for a description of the
right of the undersigned to anticipate payments hereof, the right of the holder
hereof to declare this Note due prior to its stated maturity, and other terms
and conditions upon which this Note is issued. This Note shall be governed by
and construed in accordance with the laws of the State of Ohio, without regard
to principles of conflicts of laws.

      Except as expressly provided in the Credit Agreement, Canadian Borrower
expressly waives presentment, demand, protest and notice of any kind.

      JURY TRIAL WAIVER. CANADIAN BORROWER, TO THE EXTENT PERMITTED BY LAW,
HEREBY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE,
WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG US BORROWER, CANADIAN
BORROWER, AGENT AND THE LENDERS, OR ANY THEREOF, ARISING OUT OF, IN CONNECTION
WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN
CONNECTION WITH THE CREDIT AGREEMENT, THIS NOTE OR ANY OTHER NOTE OR OTHER
INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH
OR THE TRANSACTIONS RELATED THERETO.

                                                      J.M. SMUCKER (CANADA) INC.

                                                      By: _____________________
                                                      Name: ___________________
                                                      Title: __________________

                                       E-8
<PAGE>

                                    EXHIBIT E
                                     FORM OF
                                 NOTICE OF LOAN

                                           [Date]_______________________, 20____

KeyBank National Association,              and, with respect to the Canadian
 as Agent                                   Commitment:
127 Public Square                          Bank of Montreal,
Cleveland, Ohio 44114-0616                  as Canadian Funding Agent
Attention: Institutional Banking           1 First Canadian Place, 19th Floor
                                           Toronto, Ontario M5X1A1,
                                           Attention: Manager, Global
                                           Distribution Services

Ladies and Gentlemen:

      The undersigned, The J. M. Smucker Company ("US Borrower"), (or US
Borrower or J.M. Smucker (Canada) Inc. ("Canadian Borrower") with respect to
Canadian Revolving Loans and Canadian Swing Loans) refers to the Credit
Agreement, dated as of June 18, 2004 ("Credit Agreement", the terms defined
therein being used herein as therein defined), among US Borrower, Canadian
Borrower, the Lenders, as defined in the Credit Agreement, KeyBank National
Association, as Agent, and Bank of Montreal, as the Canadian Funding Agent, and
hereby gives you notice, pursuant to Section 2.6 of the Credit Agreement that US
Borrower hereby requests a Loan under the Credit Agreement, and in connection
therewith sets forth below the information relating to the Loan (the "Proposed
Loan") as required by Section 2.6 of the Credit Agreement:

                                  US COMMITMENT

      (a)   The Business Day of the Proposed Loan is __________, 200__.

      (b)   The amount of the Proposed Loan is $_______________.

      (c)   The Proposed Loan is to be a: US Base Rate Loan ___ / US Eurodollar
            Loan ___ Alternate Currency Loan ___ / US Swing Loan ___ . (Check
            one.)

      (d)   If the Proposed Loan is an Alternate Currency Loan, the Alternate
            Currency requested is ___________.

      (e)   If the Proposed Loan is a Fixed Rate Loan, the Interest Period
            requested is one month ___ / two months ___ / three months ___ / six
            months ____ / twelve months ___ (this requires prior approval from
            all US Lenders). (Check one.)

                                       E-9
<PAGE>

                               CANADIAN COMMITMENT

      (a)   The Business Day of the Proposed Loan is __________, 200__.

      (b)   The amount of the Proposed Loan is $_______________/
            CAD____________.

      (c)   The Proposed Loan is to be a: Canadian CAD Base Rate Loan ___ /
            Canadian USD Base Rate Loan ___ / CAD CDOR Loan ___ / Canadian
            Eurodollar Loan ___ / Canadian CAD Swing Loan ___ / Canadian USD
            Swing Loan ___. (Check one.)

      (d)   If the Proposed Loan is a Fixed Rate Loan, the Interest Period
            requested is one month ___ / two months ___ / three months ___ / six
            months ____ / twelve months ___ (this requires prior approval from
            all Canadian Lenders). (Check one.)

      The undersigned hereby certifies on behalf of Borrowers that the following
statements are true on the date hereof, and will be true on the date of the
Proposed Loan:

      (i)   the representations and warranties contained in each Loan Document
are correct, before and after giving effect to the Proposed Loan and the
application of the proceeds therefrom, as though made on and as of such date;

      (ii)  no event has occurred and is continuing, or would result from such
Proposed Loan, or the application of proceeds therefrom, that constitutes a
Default or Event of Default; and

      (iii) the conditions set forth in Section 2.6 and Article IV of the Credit
Agreement have been satisfied.

                                    THE J. M. SMUCKER COMPANY

                                    By: ________________________________________
                                    Name: ______________________________________
                                    Title: _____________________________________

                                    or, with respect to the Canadian Commitment:

                                    J.M. SMUCKER (CANADA) INC.

                                    By: ________________________________________
                                    Name: ______________________________________
                                    Title: _____________________________________

                                      E-10
<PAGE>

                                    EXHIBIT F
                             COMPLIANCE CERTIFICATE

                                           For Fiscal Quarter ended ____________

THE UNDERSIGNED HEREBY CERTIFIES THAT:

      (1) I am the duly elected President or Chief Financial Officer of The J.
M. Smucker Company, an Ohio corporation ("US Borrower");

      (2) I am familiar with the terms of that certain Credit Agreement, dated
as of June 18, 2004, among US Borrower, Canadian Borrower, the lenders named on
Schedule 1 thereto (together with their respective successors and assigns,
collectively, the "Lenders"), as defined in the Credit Agreement, KeyBank
National Association, as Agent, and Bank of Montreal, as the Canadian Funding
Agent, (as the same may from time to time be amended, restated or otherwise
modified, the "Credit Agreement", the terms defined therein being used herein as
therein defined), and the terms of the other Loan Documents, and I have made, or
have caused to be made under my supervision, a review in reasonable detail of
the transactions and condition of Borrowers and their Subsidiaries during the
accounting period covered by the attached financial statements;

      (3) The review described in paragraph (2) above did not disclose, and I
have no knowledge of, the existence of any condition or event that constitutes
or constituted a Default or Event of Default, at the end of the accounting
period covered by the attached financial statements or as of the date of this
Certificate;

      (4) The representations and warranties made by Borrowers contained in each
Loan Document are true and correct as though made on and as of the date hereof;
and

      (5) Set forth on Attachment I hereto are calculations of the financial
covenants set forth in Section 5.7 of the Credit Agreement and the calculation
of the Leverage Ratio, which calculations show compliance with the terms
thereof.

      IN WITNESS WHEREOF, I have signed this certificate the ___ day of
_________, 20___.

                                                       THE J. M. SMUCKER COMPANY

                                                       By: _____________________
                                                       Name: ___________________
                                                       Title:___________________

                                      E-11
<PAGE>

                                    EXHIBIT G
                                     FORM OF
                       ASSIGNMENT AND ACCEPTANCE AGREEMENT

      This Assignment and Acceptance Agreement (this "Assignment Agreement")
between ______________________ (the "Assignor") and ______________________ (the
"Assignee") is dated as of ________, 20_. The parties hereto agree as follows:

      1. Preliminary Statement. Assignor is a party to a Credit Agreement, dated
as of June 18, 2004 (as the same may from time to time be amended, restated or
otherwise modified, the "Credit Agreement"), among THE J. M. SMUCKER COMPANY.,
an Ohio corporation ("US Borrower"), an [_____________________], a corporation
incorporated under the laws of Canada ("Canadian Borrower" and, together with US
Borrower, collectively, "Borrowers" and, individually, each a "Borrower"), the
lenders named on Schedule 1 thereto (together with their respective successors
and assigns, collectively, the "Lenders" and, individually, each a "Lender"),
KEYBANK NATIONAL ASSOCIATION, as lead arranger and administrative agent for the
Lenders ("Agent"), and BANK OF MONTREAL, as the Canadian funding agent and
documentation agent. Capitalized terms used herein and not otherwise defined
herein shall have the meanings attributed to them in the Credit Agreement.

      2. Assignment and Assumption. Assignor hereby sells and assigns to
Assignee, and Assignee hereby purchases and assumes from Assignor, an interest
in and to Assignor's rights and obligations under the Credit Agreement,
effective as of the Assignment Effective Date (as hereinafter defined), equal to
the percentage interest specified on Annex 1 hereto (hereinafter, "Assignee's
Percentage") of Assignor's right, title and interest in and to (a) the
Commitment of Assignor as set forth on Annex 1 hereto (hereinafter, the
"Assigned Amount"), (b) any Loan made by Assignor that is outstanding on the
Assignment Effective Date, (c) Assignor's interest in any Letter of Credit, as
defined in the Credit Agreement, that is issued and outstanding on the
Assignment Effective Date, (d) any Note delivered to Assignor pursuant to the
Credit Agreement, and (e) the Credit Agreement and the other Related Writings.
After giving effect to such sale and assignment and on and after the Assignment
Effective Date, Assignee shall be deemed to have an "Applicable Commitment
Percentage" under the Credit Agreement equal to the Commitment Percentage set
forth in subpart II.A on Annex 1 hereto.

      3. Assignment Effective Date. The Assignment Effective Date (the
"Assignment Effective Date") shall be [________ __, ____] (or such other date
agreed to by Agent). On or prior to the Assignment Effective Date, Assignor
shall satisfy the following conditions:

      (a) receipt by Agent of this Assignment Agreement, including Annex 1
hereto, properly executed by Assignor and Assignee and accepted and consented to
by Agent and, if necessary pursuant to the provisions of Section 10.10(a) of the
Credit Agreement, by Borrowers;

      (b) receipt by Agent from Assignor of a fee of Three Thousand Five Hundred
Dollars ($3,500), if required by Section 10.10 of the Credit Agreement;

                                      E-12
<PAGE>

      (c) receipt by Agent from Assignee of an administrative questionnaire, or
other similar document, which shall include (i) the address for notices under
the Credit Agreement, (ii) the address of its Lending Office, (iii) wire
transfer instructions for delivery of funds by Agent, (iv) and such other
information as Agent shall request; and

      (d) receipt by Agent from Assignor or Assignee of any other information
required pursuant to Section 10.10 of the Credit Agreement or otherwise
necessary to complete the transaction contemplated hereby.

      4. Payment Obligations. In consideration for the sale and assignment of
Loans hereunder, Assignee shall pay to Assignor, on the Assignment Effective
Date, the amount agreed to by Assignee and Assignor. Any interest, fees and
other payments accrued prior to the Assignment Effective Date with respect to
the Assigned Amount shall be for the account of Assignor. Any interest, fees and
other payments accrued on and after the Assignment Effective Date with respect
to the Assigned Amount shall be for the account of Assignee. Each of Assignor
and Assignee agrees that it will hold in trust for the other party any interest,
fees or other amounts which it may receive to which the other party is entitled
pursuant to the preceding sentence and to pay the other party any such amounts
which it may receive promptly upon receipt thereof.

      5. Credit Determination; Limitations on Assignor's Liability. Assignee
represents and warrants to Assignor, Borrowers, Agent and the Lenders (a) that
it is capable of making and has made and shall continue to make its own credit
determinations and analysis based upon such information as Assignee deemed
sufficient to enter into the transaction contemplated hereby and not based on
any statements or representations by Assignor, (b) Assignee confirms that it
meets the requirements to be an assignee as set forth in Section 10.10 of the
Credit Agreement; (c) Assignee confirms that it is able to fund the Loans and
the Letters of Credit as required by the Credit Agreement; (d) Assignee agrees
that it will perform in accordance with their terms all of the obligations which
by the terms of the Credit Agreement, the Intercreditor Agreement, the Lender
Agreement and the Related Writings are required to be performed by it as a
Lender thereunder; and (e) Assignee represents that it has reviewed each of the
Loan Documents, the Intercreditor Agreement and the Lender Agreement, and by its
signature to this Assignment Agreement, agrees to be bound by and subject to the
terms and conditions of the Intercreditor Agreement and the Lender Agreement, as
if it were an original party thereto. It is understood and agreed that the
assignment and assumption hereunder are made without recourse to Assignor and
that Assignor makes no representation or warranty of any kind to Assignee and
shall not be responsible for (i) the due execution, legality, validity,
enforceability, genuineness, sufficiency or collectability of the Credit
Agreement, the Intercreditor Agreement, the Lender Agreement or any Related
Writings, (ii) any representation, warranty or statement made in or in
connection with the Credit Agreement, the Intercreditor Agreement, the Lender
Agreement or any of the Related Writings, (iii) the financial condition or
creditworthiness of any Borrower or Guarantor of Payment, (iv) the performance
of or compliance with any of the terms or provisions of the Credit Agreement,
the Intercreditor Agreement, the Lender Agreement or any of the Related
Writings, (v) the inspection of any of the property, books or records of
Borrowers, or (vi) the validity, enforceability, perfection, priority,
condition, value or sufficiency of any collateral securing or purporting to
secure the Loans or Letters of Credit. Neither Assignor nor any of its

                                      E-13
<PAGE>

officers, directors, employees, agents or attorneys shall be liable for any
mistake, error of judgment, or action taken or omitted to be taken in connection
with the Loans, the Letters of Credit, the Credit Agreement, the Intercreditor
Agreement, the Lender Agreement or the Related Writings, except for its or their
own bad faith or willful misconduct. Assignee appoints Agent (and Canadian
Funding Agent, if applicable) to take such action as agent on its behalf and to
exercise such powers under the Credit Agreement as are delegated to Agent (or
Canadian Funding Agent, if applicable) by the terms thereof.

      6. Indemnity. Assignee agrees to indemnify and hold Assignor harmless
against any and all losses, cost and expenses (including, without limitation,
attorneys' fees) and liabilities incurred by Assignor in connection with or
arising in any manner from Assignee's performance or non-performance of
obligations assumed under this Assignment Agreement.

      7. Subsequent Assignments. After the Assignment Effective Date, Assignee
shall have the right pursuant to Section 10.10 of the Credit Agreement to assign
the rights which are assigned to Assignee hereunder, provided that (a) any such
subsequent assignment does not violate any of the terms and conditions of the
Credit Agreement, the Intercreditor Agreement, the Lender Agreement, any of the
Related Writings, or any law, rule, regulation, order, writ, judgment,
injunction or decree and that any consent required under the terms of the Credit
Agreement, the Intercreditor Agreement, the Lender Agreement, or any of the
Related Writings has been obtained, (b) the assignee under such assignment from
Assignee shall agree to assume all of Assignee's obligations hereunder in a
manner satisfactory to Assignor and (c) Assignee is not thereby released from
any of its obligations to Assignor hereunder.

      8. Reductions of Aggregate Amount of Commitments. If any reduction in the
Total Commitment Amount occurs between the date of this Assignment Agreement and
the Assignment Effective Date, the percentage of the Total Commitment Amount
assigned to Assignee shall remain the percentage specified in Section 1 hereof
and the dollar amount of the Commitment of Assignee shall be recalculated based
on the reduced Total Commitment Amount.

      9. Acceptance of Agent; Notice by Assignor. This Assignment Agreement is
conditioned upon the acceptance and consent of Agent and, if necessary pursuant
to Section 10.10 of the Credit Agreement, upon the acceptance and consent of US
Borrower; provided, that the execution of this Assignment Agreement by Agent
and, if necessary, by US Borrower is evidence of such acceptance and consent.

      10. Entire Agreement. This Assignment Agreement embodies the entire
agreement and understanding between the parties hereto and supersedes all prior
agreements and understandings between the parties hereto relating to the subject
matter hereof.

      11. Governing Law. This Assignment Agreement shall be governed by the laws
of the State of Ohio, without regard to conflicts of laws.

      12. Notices. Notices shall be given under this Assignment Agreement in the
manner set forth in the Credit Agreement. For the purpose hereof, the addresses
of the parties hereto

                                      E-14
<PAGE>

(until notice of a change is delivered) shall be the address set forth under
each party's name on the signature pages hereof.

                  [Remainder of page intentionally left blank.]

                                      E-15
<PAGE>

      13. JURY TRIAL WAIVER. EACH OF THE UNDERSIGNED, TO THE EXTENT PERMITTED BY
LAW, WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE,
WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, AMONG AGENT, ANY OF THE
LENDERS, AND/OR BORROWER ARISING OUT OF, IN CONNECTION WITH, RELATED TO, OR
INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN EACH OF THEM IN CONNECTION
WITH THIS INSTRUMENT OR ANY NOTE OR OTHER AGREEMENT, INSTRUMENT OR DOCUMENT
EXECUTED OR DELIVERED IN CONNECTION THEREWITH OR THE TRANSACTIONS RELATED
HERETO.

      IN WITNESS WHEREOF, the parties hereto have executed this Assignment
Agreement by their duly authorized officers as of the date first above written.

                                                       ASSIGNOR:
Address: ___________________________                   _________________________
         ___________________________
         Attention: ________________                   By: _____________________
         Phone: ____________________                   Name: ___________________
         Fax: ______________________                   Title: __________________

                                                       ASSIGNEE:
Address: ___________________________                   _________________________
         ___________________________
         Attention: ________________                   By: _____________________
         Phone: ____________________                   Name: ___________________
         Fax: ______________________                   Title:___________________

Accepted and Consented to this ___ day of ___, 20_:

KEYBANK NATIONAL ASSOCIATION,
 as Agent

By: ________________________________
Name:_______________________________
Title:______________________________

Accepted and Consented to this ___ day of _______, 20__:

THE J. M. SMUCKER COMPANY

By:_________________________________
Name:_______________________________
Title:______________________________

                                      E-16
<PAGE>

                                     ANNEX 1
                                       TO
                      ASSIGNMENT AND ACCEPTANCE AGREEMENT

      On and after the Assignment Effective Date, the Commitment of Assignee,
and, if this is less than an assignment of all of Assignor's interest, Assignor,
shall be as follows:

   I. INTEREST OF ASSIGNOR BEING ASSIGNED TO ASSIGNEE

         A.    Assignee's Percentage                                 __________%

         B.    Assigned Amount                                       $__________

   II. ASSIGNEE'S COMMITMENT (as of the Assignment Effective Date)

         A.    Assignee's Commitment Percentage
               under the Credit Agreement                            __________%

         B.    Assignee's Commitment Amount under
               the Credit Agreement                                  $__________

   III. ASSIGNOR'S COMMITMENT (as of the Assignment Effective Date)

         A.    Assignor's Commitment Percentage
               under the Credit Agreement                            __________%

         B.    Assignor's Commitment Amount
                 under the Credit Agreement                          $__________

                                      E-17
<PAGE>

                                    EXHIBIT H
                              REQUEST FOR EXTENSION

                                                      [__________________, 20__]
KeyBank National Association, as Agent
127 Public Square
Cleveland, Ohio 44114-0616
Attention: Institutional Banking

Ladies and Gentlemen:

      The undersigned, THE J. M. SMUCKER COMPANY and J.M. SMUCKER (CANADA) INC.
(collectively, "Borrowers" and, individually, each a "Borrower"), refers to the
Credit Agreement, dated as of June 18, 2004 (as the same may from time to time
be amended, restated or otherwise modified, the "Credit Agreement", the terms
defined therein being used herein as therein defined), among the undersigned,
the Lenders, as defined in the Credit Agreement, KEYBANK NATIONAL ASSOCIATION,
as lead arranger and administrative agent for the Lenders ("Agent"), and BANK OF
MONTREAL, as the Canadian funding agent and documentation agent, and hereby
gives you notice, pursuant to Section 2.14 of the Credit Agreement that the
undersigned hereby requests an extension as set forth below (the "Extension")
under the Credit Agreement, and in connection with the Extension sets forth
below the information relating to the Extension as required by Section 2.14 of
the Credit Agreement.

      The undersigned hereby requests Agent and the Lenders to extend the
Commitment Period from ______________ _____, 200_ to ________________ _____,
200_.

      The undersigned hereby certifies that the following statements are true on
the date hereof, and will be true on the date of the Extension: (a) the
representations and warranties contained in each Loan Document are correct,
before and after giving effect to the Extension and the application of the
proceeds therefrom, as though made on and as of such date; (b) no event has
occurred and is continuing, or would result from such Extension, or the
application of proceeds therefrom, which constitutes a Default or an Event of
Default; and (c) the conditions set forth in Section 2.14 and Article IV of the
Credit Agreement have been satisfied.

                                                      THE J. M. SMUCKER COMPANY

                                                      By: ______________________
                                                      Name: ____________________
                                                      Title: ___________________

                                                      J.M. SMUCKER (CANADA) INC.

                                                      By: ______________________
                                                      Name: ____________________
                                                      Title: ___________________

                                      E-18

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]