Document:

Amended and Restated Non-Statutory Stock Option Agreement - Donald A Livingston

 Exhibit 4.10 
  
 ENVIRONMENTAL POWER CORPORATION 
  
 Amended and Restated Nonstatutory Stock Option Agreement 
  
 8. Grant of Option. 
  
 This agreement amends and restates in its entirety that certain Nonstatutory Stock Option Agreement, dated March 29, 2004, evidencing the grant by
Environmental Power Corporation, a Delaware corporation (the “Company”), on March 29, 2004, to Donald A. Livingston, an employee of the Company (the “Participant”), of an option to purchase, in whole or in part, on the terms
provided herein, a total of 1,000,000 shares (the “Shares”) of common stock, $0.01 par value per share, of the Company (“Common Stock”) at the exercises prices per Share set forth in Section 3(a) of this Agreement. Unless earlier
terminated, the option represented by this agreement shall expire at 5:00 p.m., Eastern time, on March 29, 2014 (the “Final Exercise Date”). The amendment and restatement evidenced hereby is entered into on August 24, 2004, effective as of
June 23, 2004, the date of its approval by the Company’s Board of Directors. 
  
 It is intended that the option evidenced by this agreement shall not be an incentive stock option as defined in Section 422 of the Internal Revenue Code of 1986, as amended, and any regulations promulgated
thereunder (the “Code”). Except as otherwise indicated by the context, the term “Participant”, as used in this option, shall be deemed to include any person who acquires the right to exercise this option validly under its terms.

  
 9. Vesting Schedule. 
  
 (a) Subject to the terms of this Agreement, this option will
become exercisable (“vest”) in full, if at all, upon the Commencement of Construction (as defined below) by the Company’s subsidiary, Microgy Cogeneration Systems, Inc. (“Microgy”), of the Requisite Number (as defined below)
of power generation projects based upon Microgy’s anaerobic digester technology (“Projects”) on or before October 31, 2004. For purposes of this Agreement, (i) the “Requisite Number” of Projects shall mean either (i) four
Projects or (ii) three Projects, with a feed dryer developed under the Company’s agreement with The Scoular Company attached to at least one such Project, and (ii) the “Commencement of Construction” shall mean that the Company shall
have completed all actions within its control, including the execution of definitive agreements and the application for appropriate permits, to commence construction of a Project, it being understood that if such conditions are satisfied and
construction on a Project is then delayed by third party action or inaction, lack of available financing or by a good faith determination by the Company’s Board of Directors that proceeding with such construction prior to October 31, 2004 would
not be in the Company’s best financial or business interest, “Commencement of Construction” of such Project shall nevertheless be deemed to have occurred for purposes of this Section 2(a). 
  
 (b) The right of exercise shall be cumulative so that to the
extent the option is not exercised in any period to the maximum extent permissible it shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the
termination of this option under Section 3 hereof. The Board of Directors of the Company (the “Board”) may at any time provide that this option shall become immediately exercisable in full or in part, free of some or all restrictions or
conditions, or otherwise realizable in full or in part, as the case may be 
  

 10. Exercise Prices and Exercise of Option. 
  
 (a) Exercise Price. The exercise price for the Shares
shall be $1.00 per Share. 
  
 (b) Form of
Exercise. Each election to exercise this option shall be in writing, signed by the Participant, and received by the Company at its principal office located at One Cate Street, 4th Floor, Portsmouth, New Hampshire 03801, accompanied by this agreement, and payment in full in one or more of the following manners: 
  
 (i) in cash or by check, payable to the order of the
Company; 
  
 (ii) by (i) delivery of an
irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding or (ii) delivery by the Participant to the Company of a copy of
irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding, provided that the Company shall be under no
obligation to deliver any Shares to the Participant or such broker until the Company has received payment in full therefor; 
  
 (iii) by delivery of shares of Common Stock owned by the Participant valued at their fair market value on the date of exercise as
determined by (or in a manner approved by) the Board in good faith (“Fair Market Value”), provided (i) such method of payment is then permitted under applicable law and (ii) such Common Stock, if acquired directly from the Company, was
owned by the Participant at least six months prior to such delivery; and 
  
 (iv) by a combination of the above permitted forms of payment. 
  
 The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for any fractional share or for fewer than one thousand whole shares. 
  
 (c) Continuous Relationship with the Company
Required. Except as otherwise provided in this Section 3, this option may not be exercised unless the Participant, at the time he or she exercises this option, is, and has been at all times since the date of this Agreement, an employee, director
or officer of, or consultant or advisor to, the Company or any parent or subsidiary of the Company as defined in Section 424(e) or (f) of the Code (an “Eligible Participant”). 
  
 (d) Termination of Relationship with the Company. Except as otherwise set forth in paragraph (e),
below, if the Participant ceases to be an Eligible Participant for any reason, then the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date). 
  
 (e) Exercise Period Upon Death or Disability. If the
Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “Cause” as
defined in the Employment Agreement, this option shall be exercisable, within the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee),
provided that this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after
the Final Exercise Date. 
  

 11. Adjustments for Changes in Common Stock and Certain Other Events. 
  
 (a) Changes in Capitalization. In the event of any
stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any distribution to holders of Common Stock other than a normal
cash dividend, the number and class of securities and exercise price per Share subject to this Option shall be appropriately adjusted by the Company (or a substituted option grant may be made, if applicable) to the extent the Board shall determine,
in good faith, that such an adjustment (or substitution) is necessary and appropriate. If this Section 4(a) applies and Section 4(c) also applies to any event, Section 4(c) shall be applicable to such event, and this Section 4(a) shall not be
applicable. 
  
 (b) Liquidation or
Dissolution. In the event of a proposed liquidation or dissolution of the Company, the Board shall upon written notice to the Participant provide that this option, to the extent unexercised, will (i) become exercisable in full as of a specified
time at least 10 business days prior to the effective date of such liquidation or dissolution and (ii) terminate effective upon such liquidation or dissolution, except to the extent exercised before such effective date. 
  
 (c) Reorganization Events. 
  
 (i) Definition. A “Reorganization Event”
shall mean: (a) any merger or consolidation of the Company with or into another entity as a result of which all of the Common Stock of the Company is converted into or exchanged for the right to receive cash, securities or other property or (b) any
exchange of all of the Common Stock of the Company for cash, securities or other property pursuant to a share exchange transaction. 
  
 (ii) Consequences of a Reorganization Event on Options. Upon the occurrence of a Reorganization Event, or the execution by the
Company of any agreement with respect to a Reorganization Event, the Board shall provide that this option shall be assumed, or equivalent options shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof). For
purposes hereof, this option shall be considered to be assumed if, following consummation of the Reorganization Event, the option confers the right to purchase, for each share of Common Stock subject to the option immediately prior to the
consummation of the Reorganization Event, the consideration (whether cash, securities or other property) received as a result of the Reorganization Event by holders of Common Stock for each share of Common Stock held immediately prior to the
consummation of the Reorganization Event (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); provided, however, that if the consideration
received as a result of the Reorganization Event is not solely common stock of the acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide for the
consideration to be received upon the exercise of this option to consist solely of common stock of the acquiring or succeeding corporation (or an affiliate thereof) equivalent in fair market value to the per share consideration received by holders
of outstanding shares of Common Stock as a result of the Reorganization Event. 
  
 Notwithstanding the foregoing, if the acquiring or succeeding corporation (or an affiliate thereof) does not agree to assume, or substitute for, this option, then the Board shall, upon written notice to the
Participant, provide that this option, to the extent unexercised, will become exercisable in full as of a specified time prior to the Reorganization Event and will terminate immediately prior to the consummation of such Reorganization Event, except
to the extent exercised by the Participant before the consummation of such Reorganization Event; provided, however, that in the event of a Reorganization Event under the terms of which holders of Common Stock will receive upon consummation thereof a
cash payment for each share of Common Stock surrendered pursuant to such Reorganization Event (the 

  

 
“Acquisition Price”), then the Board may instead provide that this option shall terminate upon consummation of such Reorganization Event and that
the Participant shall receive, in exchange therefor, a cash payment equal to the amount (if any) by which (A) the Acquisition Price multiplied by the number of Shares subject to this option (whether or not then exercisable), exceeds (B) the
aggregate exercise price of this options. To the extent all or any portion of this option becomes exercisable solely as a result of the first sentence of this paragraph, upon exercise of this option the Participant shall receive shares subject to a
right of repurchase by the Company or its successor at the applicable exercise price. Such repurchase right (1) shall lapse at the same rate as this option would have become exercisable under its terms and (2) shall not apply to any shares subject
to this option that were already exercisable under its terms without regard to the first sentence of this paragraph. 
  
 12. Withholding. 
  
 No Shares will be issued pursuant to the exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to
the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option. 
  
 13. Nontransferability of Option. 
  
 This option may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except
by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant. 
  
 14. Miscellaneous. 
  
 (a) No Right To Employment or Other Status. The grant of this option shall not be construed as giving the Participant the right to
continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with the Participant free from any liability or claim under this Agreement,
except as expressly provided herein. 
  
 (b)
No Rights As Stockholder. The Participant shall have no rights as a stockholder with respect to any Shares to be distributed upon exercise of this option until becoming the record holder of such Shares. Notwithstanding the foregoing, in the
event the Company effects a split of the Common Stock by means of a stock dividend and the exercise price of and the number of Shares subject to this Option are adjusted as of the date of the distribution of the dividend (rather than as of the
record date for such dividend), then, if the Participant exercises this option between the record date and the distribution date for such stock dividend, the Participant shall be entitled to receive, on the distribution date, the stock dividend with
respect to the shares of Common Stock acquired upon such exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend. 
  
 (c) Governing Law. The provisions of the Plan and all
Awards made hereunder shall be governed by and interpreted in accordance with the laws of the State of Delaware, without regard to any applicable conflicts of law. 
  

 IN WITNESS WHEREOF, the Company has caused this option to be executed under its corporate seal by its
duly authorized officer. This option shall take effect as a sealed instrument. 
  

											
	 	 	 	 	 ENVIRONMENTAL POWER CORPORATION

				
	 Dated: August 24, 2004
	 	 	 	 By:
	 	 /s/ R. Jeffrey Macartney

	 	 	 	 	 	 	 	 	 Name:
	 	 R. Jeffrey Macartney

	 	 	 	 	 	 	 	 	 Title:
	 	 Chief Financial Officer

  
 PARTICIPANT’S
ACCEPTANCE 
  
 The undersigned hereby accepts the foregoing option
and agrees to the terms and conditions thereof. 
  

											
	 	 	 	 	 PARTICIPANT:

				
	 	 	 	 	 	 	 /s/ Donald A. Livingston

	 	 	 	 	 	 	 Donald A. Livingston

	 	 	 	 	 	 	 Address:Third Amendment to Credit Agreement

 Exhibit 10.1 
  
 EXECUTION COPY 
  
  
  
  
  
  
  
 CONCENTRA INC., 
 As Holdings,

  
 CONCENTRA OPERATING CORPORATION, 
 As Borrower, 
  
 The Several Lenders from Time to Time Parties Hereto, 
  
 JPMORGAN CHASE BANK, 
 As Administrative Agent 
  
  
  
 J.P. MORGAN SECURITIES INC., 
 As Sole
Lead Arranger and Sole Bookrunner 
  

  
 THIRD AMENDMENT TO THE CREDIT AGREEMENT 
  
 $401,475,000 REPLACEMENT TERM LOAN FACILITY 
  
  
  
 August 23, 2004 

 THIRD AMENDMENT, dated as of August 23, 2004 and effective as of August 23, 2004 (this “Third
Amendment”), to the Credit Agreement, dated as of August 13, 2003, as amended by the First Amendment thereto, dated as of November 17, 2003 and as further amended by the Second Amendment thereto, dated as of June 8, 2004 (the
“Credit Agreement”), among CONCENTRA INC., a Delaware corporation (“Holdings”), CONCENTRA OPERATING CORPORATION, a Nevada corporation (the “Borrower”), the several banks and other financial
institutions parties thereto (the “Existing Lenders” and, together with the Replacement Term Lenders (as defined below), the “Lenders”) and JPMORGAN CHASE BANK, a New York banking corporation, as administrative
agent for the Lenders thereunder (in such capacity, the “Administrative Agent”), is entered into by and among Holdings, the Borrower, the Lenders and the Administrative Agent. 
  
 WITNESSETH: 
  
 WHEREAS, Holdings, the Borrower, the Existing Lenders and the Administrative Agent are parties to the Credit Agreement; 
  
 WHEREAS, Holdings and the Borrower have requested that the Administrative Agent and the Lenders agree to amend the Credit Agreement (i) to provide for the
Term Loan Refinancing (as defined herein) and (ii) as otherwise more fully described herein; 
  
 WHEREAS, the Lenders and the Administrative Agent are willing to agree to such amendment, but only upon the terms and subject to the conditions set forth herein; and 
  
 WHEREAS, Holdings and the Borrower have asked J.P. Morgan Securities Inc. to
act as exclusive sole lead arranger and sole bookrunner for this Third Amendment and J.P. Morgan Securities Inc. has agreed to serve in such capacity; 
  
 NOW THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto hereby agree as follows: 
  
 1. Defined Terms. Unless otherwise defined herein, capitalized terms
that are defined in the Credit Agreement are used herein as therein defined. 
  
 2. Amendments to Section 1.1. 
  
 (a) Section 1.1 of the Credit Agreement is hereby amended by inserting, in proper alphabetical order, the following new or substitute defined terms and related definitions: 
  
 “Applicable Margin”: (a) for each Revolving Loan, the rate per annum determined pursuant to
the Pricing Grid and (b) for each Term Loan, the rate per annum set forth under the relevant column heading below: 
  

					
	 	 	 ABR Loans

	 	 Eurodollar Loans

	 Term Loans
	 	1.50%	 	2.50%

  

 1 

 “Continuing Term Lender”: any Lender which holds Original Term Loans or
Incremental Term Loans prior to the Third Amendment Effective Date and a Replacement Term Loan Commitment from and after the Third Amendment Effective Date. Any Continuing Term Lender shall be deemed a Replacement Term Lender from and after the
Third Amendment Effective Date. 
  
 “Converted Term Loan”: as defined in Section 2.1(b) hereof. 
  
 “Incremental Term Loans”: the incremental term loans made to the Borrower pursuant to this Agreement on the Second
Amendment Effective Date. As of the Third Amendment Effective Date, each of the Incremental Term Loan Commitment and the aggregate outstanding principal amount of Incremental Term Loans is $0. 
  
 “Original Term Commitment”: as to any
Lender, the obligation of such Lender to make an Original Term Loan to the Borrower hereunder on the Closing Date. The original aggregate amount of the Original Term Commitment is $335,000,000. 
  
 “Original Term Loans”: the term loans made
to the Borrower pursuant to this Agreement on the Closing Date. As of the Third Amendment Effective Date, each of the Original Term Commitment and the aggregate outstanding principal amount of Original Term Loans is $0. 
  
 “Original Term Lenders”: Lenders which hold
the Original Term Loans immediately prior to the Third Amendment Effective Date. 
  
 “Replacement Term Lender”: each Lender which has a Replacement Term Loan Commitment or which has made a Replacement Term
Loan. 
  
 “Replacement Term Loan
Commitment”: as to any Lender, the obligation of such Lender, if any, to make a Replacement Term Loan to the Borrower hereunder in a principal amount not to exceed the amount agreed to by the Borrower, the Administrative Agent and such
Lender. The original aggregate amount of the Replacement Term Loan Commitments is $401,475,000. 
  
 “Replacement Term Loans”: as defined in Section 2.1(a) hereof. 
  
 “Term Commitment”: prior to the Third
Amendment Effective Date, the Original Term Commitment, and from and after the Third Amendment Effective Date, the Replacement Term Loan Commitment. 
  
 “Term Lenders”: prior to the Third Amendment Effective Date, the Original Term Lenders and the Incremental Term Lenders;
and from and after the Third Amendment Effective Date, the Replacement Term Lenders. 
  
 “Term Loan Refinancing”: the refinancing in full of the outstanding (i) Original Term Loans and (ii) Incremental Term
Loans, in each case with the proceeds of the Replacement Term Loans. 
  

 2 

 “Term Loans”: prior to the Third Amendment Effective Date, the Original
Term Loans and the Incremental Term Loans; and from and after the Third Amendment Effective Date, the Replacement Term Loans. 
  
 “Third Amendment”: the Third Amendment dated as of August 23, 2004 to this Agreement. 
  
 “Third Amendment Effective Date”: the date
on which the conditions precedent set forth in Section 9 of the Third Amendment shall have been satisfied or waived, which date is August 23, 2004. 
  
 (b) The definition of “Interest Period” contained in Section 1.1 of the Credit Agreement is hereby amended by deleting “or the Incremental
Term Loans” in clause (ii) therein. 
  
 (c) The definition of
“Excess Cash Flow” contained in Section 1.1 of the Credit Agreement is hereby amended by replacing clause (b)(iii) therein as follows: 
  
 “(iii) the aggregate amount of all prepayments of Revolving Loans during such period to the extent accompanying permanent optional
reductions of the Revolving Commitments and all optional prepayments of the Original Term Loans, the Term Loans and the Incremental Term Loans during such fiscal period (other than the refinancing of the Original Term Loans and the Incremental Term
Loans with proceeds of the Replacement Term Loans on the Third Amendment Effective Date),” 
  
 3. Amendment to Section 2.1. Section 2.1 of the Credit Agreement is hereby amended in its entirety as follows: 
  
 “2.1 Term Loans. (a) The Original Term Loans were
made to the Borrower on the Closing Date. The Incremental Term Loans were made to the Borrower on the Second Amendment Effective Date. Subject to the terms and conditions hereof, each Replacement Term Lender severally agrees to make a term loan (or,
in the case of a Continuing Term Lender, pursuant to clause (b) of this Section, to elect to convert all of such Continuing Term Lender’s Original Term Loans and Incremental Term Loans) (collectively, the “Replacement Term
Loans”) to the Borrower on the Third Amendment Effective Date in an amount not to exceed the amount of the Replacement Term Loan Commitment of such Lender. The Replacement Term Loans may from time to time be Eurodollar Loans or ABR Loans,
as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.10. 
  
 (b) In connection with the making of the Replacement Term Loans pursuant to clause (a) above, by delivering notice to the Administrative
Agent 2 Business Days prior to the Third Amendment Effective Date, any Continuing Term Lender may elect to make all of such Lender’s Replacement Term Loan requested by the Borrower in accordance with Section 2.2 to be made on the Third
Amendment Effective Date by converting all of the outstanding principal amount of the Original Term Loans and the Incremental Term Loans held by such Lender into Replacement Term Loans (each, a “Converted Term Loan”). On the Third
Amendment Effective Date, the Converted Term 
  

 3 

 Loans shall be converted for all purposes of this Agreement into Replacement Term Loans, and the
Administrative Agent shall record in the Register the aggregate amounts of Converted Term Loans converted into Replacement Term Loans. Any written notice to the Administrative Agent delivered by an applicable Lender pursuant to this Section shall
specify the amount of such Lender’s Replacement Term Loan Commitment and the principal amount of the Original Term Loans and the Incremental Term Loans held by such Lender that are to be converted into Replacement Term Loans. From and after the
Third Amendment Effective Date, Converted Term Loans shall constitute Replacement Term Loans for all purposes of this Agreement. 
  
 (c) Notwithstanding any provision of this Agreement, the provisions of Sections 2.16, 2.17, 2.18 and 10.5 as in effect immediately prior
to the Third Amendment Effective Date will continue to be effective as to all matters arising out of or in any way related to facts or events existing or occurring prior to the Third Amendment Effective Date.” 
  
 4. Amendment to Section 2.2. Section 2.2 of the Credit Agreement is
hereby amended in its entirety as follows: 
  
 “2.2 Procedure for Term Loan Borrowing. The Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the Administrative Agent prior to 10:00 A.M., New York City time, on the Third
Amendment Effective Date) requesting (i) that the Replacement Term Lenders make Replacement Term Loans or (ii) that the Continuing Term Lenders convert Converted Term Loans to Replacement Term Loans on the Third Amendment Effective Date. The
Replacement Term Loans shall initially be ABR Loans. Upon receipt of such notice the Administrative Agent shall promptly notify each Replacement Term Lender and Continuing Term Lender thereof. Not later than 12:00 Noon, New York City time, on the
Third Amendment Effective Date, each Replacement Term Lender shall make available to the Administrative Agent at the Funding Office an amount in immediately available funds equal to the Replacement Term Loan to be made by such Lender. The
Administrative Agent shall credit the account of the Borrower on the books of such office of the Administrative Agent with the aggregate of the amounts made available to the Administrative Agent by the Replacement Term Lenders to the repayment in
full of principal of each of the Original Term Loans and the Incremental Term Loans that are not Converted Term Loans.” 
  
 5. Amendment to Section 2.3. Section 2.3 of the Credit Agreement is hereby amended in its entirety as follows: 
  
 “2.3 Repayment of Term Loans. The Term Loan of
each Term Lender shall mature in twenty-four (24) consecutive quarterly installments, commencing on September 30, 2004, each of which shall be in an amount equal to such Term Lender’s Term Percentage multiplied by the amount set forth below
opposite such installment: 
  

 4 

				
	 Installment

	  	Principal Amount

	 September 30, 2004
	  	$	1,003,688
	 December 31, 2004
	  	 	1,003,688
	 March 31, 2005
	  	 	1,003,688
	 June 30, 2005
	  	 	1,003,688
	 September 30, 2005
	  	 	1,003,688
	 December 31, 2005
	  	 	1,003,688
	 March 31, 2006
	  	 	1,003,688
	 June 30, 2006
	  	 	1,003,688
	 September 30, 2006
	  	 	1,003,688
	 December 31, 2006
	  	 	1,003,688
	 March 31, 2007
	  	 	1,003,688
	 June 30, 2007
	  	 	1,003,688
	 September 30, 2007
	  	 	1,003,688
	 December 31, 2007
	  	 	1,003,688
	 March 31, 2008
	  	 	1,003,688
	 June 30, 2008
	  	 	1,003,688
	 September 30, 2008
	  	 	1,003,688
	 December 31, 2008
	  	 	1,003,688
	 March 31, 2009
	  	 	1,003,688
	 June 30, 2009
	  	 	1,003,688
	 September 30, 2009
	  	 	57,210,188
	 December 31, 2009
	  	 	57,210,188
	 March 31, 2010
	  	 	114,420,375
	 June 30, 2010
	  	 
 
 	all amounts then
outstanding in respect of
the Term Loans”

  
 6. Amendment to
Section 2.8. Section 2.8(b) of the Credit Agreement is hereby amended in its entirety, as follows: 
  
 “(b) Each optional prepayment of the Term Loans of any Term Lender (i) using proceeds of Indebtedness of the Borrower, (ii) for which the interest
rate payable thereon is lower than the Applicable Margin with respect to the Term Loans at the time of such optional prepayment and (iii) during the period from the Third Amendment Effective Date to but excluding the first anniversary of the Third
Amendment Effective Date, shall be accompanied by payment of a 1% prepayment premium on the principal amount of such Term Lender’s Term Loan prepaid (unless such prepayment premium is waived by such Lender). 
  
 7. Amendment to Subsection 2.12. Section 2.12(d) of the Credit
Agreement is hereby amended in its entirety, as follows: 
  
 “(d) Interest shall be payable in arrears on each Interest Payment Date; provided, that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand; provided further,
that all unpaid interest through the 
  

 5 

 Third Amendment Effective Date on Converted Term Loans shall be deemed to be due on the Third Amendment
Effective Date.” 
  
 8. Amendment to Section 4.16.
Section 4.16 of the Credit Agreement is hereby amended by replacing the first and second sentences therein with the following: 
  
 “The proceeds of the Replacement Term Loans shall be used for the Term Loan Refinancing.” 
  
 9. Conditions to Effectiveness of this Third Amendment. This Third
Amendment shall become effective upon the date (the “Third Amendment Effective Date”) when the following conditions are satisfied: 
  
 (a) Third Amendment to Credit Agreement. The Administrative Agent shall have received counterparts of this Third Amendment, duly executed and
delivered by Holdings, the Borrower, the Administrative Agent, each Lender with a Replacement Term Loan Commitment and Existing Lenders constituting the “Required Lenders” under the Credit Agreement (or, in the case of any such Lender, a
lender addendum or joinder agreement in a form specified by the Administrative Agent). 
  
 (b) Fees. 
  
 (i) The Administrative Agent shall have received all fees required to be paid on or before the Third Amendment Effective Date, and all expenses required to be paid on or before the Third Amendment Effective Date for which invoices have been
timely presented. The reasonable fees and expenses of legal counsel shall be paid promptly upon receipt of an invoice from such counsel, whether before or after the Third Amendment Effective Date. 
  
 (ii) The Borrower also agrees to pay to the Administrative
Agent on the Third Amendment Effective Date by intrabank transfer of immediately available funds all accrued interest payable pursuant to Section 2.12(d) of the Credit Agreement, as amended hereby, and any amounts payable pursuant to Section 2.18(c)
of the Credit Agreement as a result of the Term Loan Refinancing. 
  
 (c) Security Documents. The Administrative Agent shall have received the Acknowledgment and Confirmation, substantially in the form of Exhibit A hereto, executed and delivered by an authorized officer of Holdings, the Borrower and
each other Loan Party. 
  
 (d) Term Loan Refinancing. The
Term Loan Refinancing shall have been consummated or arrangements reasonably satisfactory to the Administrative Agent shall have been made for the consummation thereof. 
  
 (e) Closing Certificate. The Administrative Agent shall have received a certificate of each Loan Party, dated the
Third Amendment Effective Date, substantially in the form of Exhibit C to the Credit Agreement, with appropriate insertions and attachments. 
  

 6 

 (f) Legal Opinions. The Administrative Agent shall have received the following executed legal
opinions: 
  
 (i) the legal opinion of Vinson & Elkins L.L.P.,
counsel to Holdings, the Borrower and its Subsidiaries, substantially in the form of Exhibit E-1 to the Credit Agreement; and 
  
 (ii) the legal opinion of Richard A. Parr, general counsel to Holdings, the Borrower and its Subsidiaries, substantially in the form of Exhibit E-2 to the
Credit Agreement. 
  
 10. Prepayment Notice. The Required
Lenders hereby waive the requirements of Section 2.8 of the Credit Agreement to the extent, but only to the extent, such Section requires more than one Business Day’s notice of repayment to be given in connection with the Term Loan Refinancing.

  
 11. Term Loan Refinancing. The Borrower hereby
irrevocably directs the Administrative Agent (i)(A) to apply the proceeds of the Replacement Term Loans being funded (and not being converted) immediately upon the receipt thereof to prepay the outstanding principal of each of the Original Term
Loans and the Incremental Term Loans and (B) with respect to all Converted Term Loans, to take such action as is deemed necessary or appropriate to effectuate the conversion of such Original Term Loans or Incremental Term Loans into Replacement Term
Loans in the manner described in paragraph (b) of Section 2.1 of the Credit Agreement as amended hereby. 
  
 12. Representations and Warranties 
  
 (a) No Default. No Default or Event of Default shall have occurred and be continuing on the Third Amendment Effective Date or after giving effect
to the transactions contemplated herein. 
  
 (b)
Representations and Warranties. Each of the representations and warranties made by the Loan Parties in or pursuant to the Loan Documents shall be true and correct on and as of the date hereof, before and after giving effect to the
effectiveness of this Third Amendment, as if made on and as of the date hereof, except to the extent such representations and warranties expressly relate to a specific earlier date, in which case such representations and warranties were true and
correct as of such earlier date. 
  
 (c) Financial
Condition. 
  
 (i) Holdings hereby represents
and warrants that the unaudited consolidated balance sheet of Holdings as at June 30, 2004, and the related unaudited consolidated statements of income and cash flows for the six-month period ended on such date, present fairly the consolidated
financial position of Holdings as at such date, and the consolidated results of its operations and its consolidated cash flows for the six-month period then ended (subject to normal year-end audit adjustments). All such financial statements,
including the related schedules and any notes thereto (except as contemplated by GAAP or in the case of any notes to the financial statements dated as of June 30, 2004), have 
  

 7 

 been prepared in accordance with GAAP applied consistently throughout the periods involved (except as
approved by the aforementioned firm of accountants and disclosed therein). 
  
 (ii) Since June 8, 2004 there has been no development or event that has had or is reasonably expected to have a Material Adverse Effect. 
  
 13. Continuing Effect of the Credit Agreement. This Third Amendment shall not constitute an amendment or waiver of
any provision of the Credit Agreement not expressly referred to herein and shall not be construed as an amendment, waiver or consent to any further or future action on the part of the Loan Parties that would require an amendment, waiver or consent
of the Lenders or Administrative Agent. Except as expressly amended hereby, the provisions of the Credit Agreement are and shall remain in full force and effect. 
  
 14. Counterparts. This Third Amendment may be executed by one or more of the parties hereto on any number of separate
counterparts (including by facsimile), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 
  
 15. Severability. Any provision of this Third Amendment which 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 not invalidate or render unenforceable such provision in
any other jurisdiction. 
  
 16. Integration. This Third
Amendment and the other Loan Documents represent the agreement of the Loan Parties, the Administrative Agent and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by the
Administrative Agent or any Lender relative to the subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents. 
  
 17. GOVERNING LAW. THIS THIRD AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS THIRD AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
  
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to be duly executed and delivered
by their proper and duly authorized officers as of the day and year first above written. 
  

			
	 CONCENTRA INC.

		
	By:	 	 /s/ Richard A. Parr
II            

	 	 	 Name: Richard A. Parr II
 Title: Executive Vice President

	
	 CONCENTRA OPERATING CORPORATION

		
	By:	 	 /s/ Richard A. Parr
II            

	 	 	 Name: Richard A. Parr II
 Title: Executive Vice President

	
	 JPMORGAN CHASE BANK, as
 Administrative Agent and a Lender

		
	By:	 	 /s/ Gary L.
Spevack            

	 	 	 Name: Gary L. Spevack
 Title: Vice President
 JPMorgan Chase Bank

			
	 PACIFICA CDO II, as a Lender
 By: Alcentra as its Investment Manager

		
	By:	 	 /s/ Dean Kawai

	 	 	 Name: Dean Kawai
 Title: Senior Vice President

	
	 R2
TOP HAT, LTD, as a Lender
 By: Amalgamated Gadget, L.P., its Investment Manager
 By: Scepter Holdings, Inc., its General Partner

		
	By:	 	 /s/ Robert McCormick

	 	 	 Name: Robert McCormick
 Title: Vice President

	
	 BILL & MELINDA GATES FOUNDATION, as a Lender
 By: Babson Capital Management LLD as Investment Adviser

		
	By:	 	 /s/ Marcus G. Sowell 

	 	 	 Name: Marcus G. Sowell
 Title: Managing Director

	
	 MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY, as a Lender
 By: Babson Capital Management LLC as Investment Adviser

		
	By:	 	 /s/ Marcus G. Sowell

	 	 	 Name: Marcus G. Sowell
 Title: Managing Director

			
	 BABSON CLO LTD. 2004-I
 ELC (CAYMAN) LTD. CDO
SERIES 1999-I
 ELC (CAYMAN) LTD. 1999-II,
 SUFFIELD CLO,
LIMITED
 By: Babson Capital Management LLC as a Lender

		
	By:	 	/s/ Marcus G. Sowell
	 	 	 Name: Marcus G. Sowell
 Title: Managing
Director

	
	 SIMSBURY CLO, LIMITED
 By: Babson Capital
Management LLC under delegated authority from Massachusetts Mutual Life Insurance Company as Collateral Manager, as a Lender

		
	By:	 	/s/ Marcus G. Sowell
	 	 	 Name: Marcus G. Sowell
 Title: Managing
Director

	
	SANKATY ADVISORS, LLC as Collateral Manager for CASTLE HILL III CLO, Limited, as Term Lender
		
	By:	 	/s/ Diane J. Exter
	 	 	 Name: Diane J. Exter
 Title: Managing
Director
 Portfolio Manager

	
	HARBOUR TOWN FUNDING LLC, as a Lender
		
	By:	 	/s/ Diana M. Himes
	 	 	 Name: Diana M. Himes
 Title: Assistant Vice
President

			
	SANKATY ADVISORS, LLC, as Collateral Manager for GREAT POINT CLO 1999-1 LTD, as Term Lender
		
	By:	 	/s/ Diane J. Exter
	 	 	 Name: Diane J. Exter
 Title: Managing
Director
 Portfolio Manager

	
	SANKATY ADVISORS, LLC as Collateral Manager for CASTLE HILL II—INGOTS, LTD., as Term Lender
		
	By:	 	/s/ Diane J. Exter
	 	 	 Name: Diane J. Exter
 Title: Managing
Director
 Portfolio Manager

	
	SANKATY ADVISORS, LLC as Collateral Manager for CASTLE HILL I—INGOTS, LTD., as Term Lender
		
	By:	 	/s/ Diane J. Exter
	 	 	 Name: Diane J. Exter
 Title: Managing
Director
 Portfolio Manager

	
	SANKATY ADVISORS, LLC as Collateral Manager for BRANT POINT CBO 1999-1 LTD., as Term Lender
		
	By:	 	/s/ Diane J. Exter
	 	 	 Name: Diane J. Exter
 Title: Managing
Director
 Portfolio Manager

			
	SANKATY ADVISORS, LLC as Collateral Manager for BRANT POINT II CBO 2000-1 LTD., as Term Lender
		
	By:	 	/s/ Diane J. Exter
	 	 	 Name: Diane J. Exter
 Title: Managing
Director
 Portfolio Manager

	
	SANKATY ADVISORS, LLC as Collateral Manager for RACE POINT CLO, LIMITED, as Term Lender
		
	By:	 	/s/ Diane J. Exter
	 	 	 Name: Diane J. Exter
 Title: Managing
Director
 Portfolio Manager

	
	SANKATY ADVISORS, LLC as Collateral Manager for RACE POINT II CLO, LIMITED, as Term Lender
		
	By:	 	/s/ Diane J. Exter
	 	 	 Name: Diane J. Exter
 Title: Managing
Director
 Portfolio Manager

	
	SANKATY ADVISORS, LLC as Collateral Manager for AVERY POINT CLO, LTD., as Term Lender
		
	By:	 	/s/ Diane J. Exter
	 	 	 Name: Diane J. Exter
 Title: Managing
Director
 Portfolio Manager

			
	LONG LANE MASTER TRUST IV, as a Lender
		
	By:	 	/s/ Diana M. Himes
	 	 	 Name: Diana M. Himes
 Title: Authorized
Agent

			
	 HANOVER SQUARE CLO LTD.
 By: Blackstone Debt Advisors L.P., as Collateral Manager

		
	By:	 	/s/ Dean T. Criares
	 	 	 Name: Dean T. Criares
 Title: Managing
Director

	
	 UNION SQUARE CLO LTD.
 By: Blackstone Debt Advisors L.P., as Collateral Manager

		
	By:	 	/s/ Dean T. Criares
	 	 	 Name: Dean T. Criares
 Title: Managing
Director

	
	 MONUMENT PARK CDO Ltd.
 By: Blackstone Debt Advisors L.P., as Collateral Manager

		
	By:	 	/s/ Dean T. Criares
	 	 	 Name: Dean T. Criares
 Title: Managing
Director

	
	 LOAN FUNDING VI LLV
 By: Blackstone Debt Advisors L.P., as Collateral Manager

		
	By:	 	/s/ Dean T. Criares
	 	 	 Name: Dean T. Criares
 Title: Managing
Director

	
	 CALLIDUS DEBT PARTNERS CLO FUND II, LTD.
 By:
Its Collateral Manager, Callidus Capital Management, LLC

		
	By:	 	/s/ Gary H. Neems
	 	 	 Name: Gary H. Neems
 Title: Managing
Director

 Canyon Capital Advisors 
 9665 Wilshire Blvd., #200 
 Beverly Hills, CA 90212 
  
 PROPORTIONATE VOTING PROVISION 
  
 The undersigned, Canyon Capital CDO 2001-1 LTD (“Canyon”), is a Lender to
Concentra Operating Corporation, dated as of August 13, 2003 (the “Credit Agreement”). Canyon’s approval of a Third Amendment to the Credit Agreement has been requested pursuant to the terms of the Credit
Agreement. 
  
 Canyon hereby votes its percentage interest as a Lender in favor of
and/or against the approval of the Third Amendment to the Credit Agreement in direct proportion to the votes of those Lenders under the Credit Agreement that have voted for or against the approval of the Third Amendment to the Credit
Agreement (without counting failure to vote or abstentions). 
  
 Canyon Capital CDO 2001-1 LTD 
  

									
	 By:
	 	 Canyon Capital Advisors LLC,
 a Delaware limited liability company,
 its Collateral Manager
	 	 	 	 
					
	By:	 	 /s/ Mitchell R. Julis
	 	 	 	 	 	 8/12/04

	 	 	 Mitchell R. Julis
 Managing Director
	 	 	 	 	 	 Date

 Canyon Capital Advisors 
 9665 Wilshire Blvd., #200 
 Beverly Hills, CA 90212 
  
 PROPORTIONATE VOTING PROVISION 
  
 The undersigned, Canyon Capital CDO 2002-1 LTD (“Canyon”), is a Lender to
Concentra Operating Corporation, dated as of August 13, 2003 (the “Credit Agreement”). Canyon’s approval of a Third Amendment to the Credit Agreement has been requested pursuant to the terms of the Credit
Agreement. 
  
 Canyon hereby votes its percentage interest as a Lender in favor of
and/or against the approval of the Third Amendment to the Credit Agreement in direct proportion to the votes of those Lenders under the Credit Agreement that have voted for or against the approval of the Third Amendment to the Credit
Agreement (without counting failure to vote or abstentions). 
  
 Canyon
Capital CDO 2002-1 LTD 
  

									
	 By:
	 	 Canyon Capital Advisors LLC,
 a Delaware limited liability company,
 its Collateral Manager
	 	 	 	 
					
	By:	 	 /s/ Mitchell R. Julis
	 	 	 	 	 	 8/12/04

	 	 	 Mitchell R. Julis
 Managing Director
	 	 	 	 	 	 Date

 Canyon Capital Advisors 
 9665 Wilshire Blvd., #200 
 Beverly Hills, CA 90212 
  
 PROPORTIONATE VOTING PROVISION 
  
 The undersigned, Canyon Capital CDO 2004-1 LTD (“Canyon”), is a Lender to
Concentra Operating Corporation, dated as of August 13, 2003 (the “Credit Agreement”). Canyon’s approval of a Third Amendment to the Credit Agreement has been requested pursuant to the terms of the Credit
Agreement. 
  
 Canyon hereby votes its percentage interest as a Lender in favor of
and/or against the approval of the Third Amendment to the Credit Agreement in direct proportion to the votes of those Lenders under the Credit Agreement that have voted for or against the approval of the Third Amendment to the Credit
Agreement (without counting failure to vote or abstentions). 
  
 Canyon Capital CLO 2004-1 LTD 
  

									
	 By:
	 	 Canyon Capital Advisors LLC,
 a Delaware limited liability company,
 its Collateral Manager
	 	 	 	 
					
	By:	 	 /s/ Mitchell R. Julis
	 	 	 	 	 	 8/12/04

	 	 	 Mitchell R. Julis
 Managing Director
	 	 	 	 	 	 Date

			
	CARLYLE HIGH YIELD PARTNERS III, LTD., as a Lender
		
	By:	 	/s/ Linda Pace
	 	 	 Name: Linda Pace
 Title: Managing
Director

	
	CARLYLE HIGH YIELD PARTNERS IV, LTD., as a Lender
		
	By:	 	/s/ Linda Pace
	 	 	 Name: Linda Pace
 Title: Managing
Director

	
	CARLYLE HIGH YIELD PARTNERS L.P., as a Lender
		
	By:	 	/s/ Linda Pace
	 	 	 Name: Linda Pace
 Title: Managing
Director

	
	CARLYLE HIGH YIELD PARTNERS II L.P., as a Lender
		
	By:	 	/s/ Linda Pace
	 	 	 Name: Linda Pace
 Title: Managing
Director

			
	CARLYLE LOAN OPPORTUNITY FUND, as a Lender
		
	By:	 	/s/ Linda Pace
	 	 	 Name: Linda Pace
 Title: Managing
Director

	
	CARLYLE HIGH YIELD PARTNERS VI LTD., as a Lender
		
	By:	 	/s/ Linda Pace
	 	 	 Name: Linda Pace
 Title: Managing
Director

	
	CALYON New York Branch, as a Lender
		
	By:	 	/s/ Charles Heidsieck
	 	 	 Name: Charles Heidsieck
 Title: Managing
Director

		
	By:	 	/s/ Thomas Randolph
	 	 	 Name: Thomas Randolph
 Title:
Director

	
	BUSHNELL CFPI, as a Lender
		
	By:	 	/s/ Suzanne Smith
	 	 	 Name: Suzanne Smith
 Title: as
Attorney-in-Fact

			
	TRUMBULL THC, LTD., as a Lender
		
	By:	 	/s/ Janet Haack
	 	 	 Name: Janet Haack
 Title: as
Attorney-in-Fact

	
	 COLUMBIA FLOATING RATE ADVANTAGE FUND, as a Lender
 By: Highland Capital Management, L.P., its Investment Advisor

		
	By:	 	/s/ Todd Travers
	 	 	 Name: Todd Travers
 Title: Senior Portfolio Manager,
Highland Capital Management, L.P.

	
	 COLUMBIA FLOATING RATE FUND LIMITED LIABILITY COMPANY, as a Lender
 By: Highland Capital Management, L.P., its Investment Advisor

		
	By:	 	/s/ Todd Travers
	 	 	 Name: Todd Travers
 Title: Senior Portfolio Manager,
Highland Capital Management, L.P.

	
	SRF 2000, INC., as a Lender
		
	By:	 	/s/ Diana M. Himes
	 	 	 Name: Diana M. Himes
 Title: Assistant Vice
President

	
	FIRST DOMINION FUNDING III, as a Lender
		
	By:	 	/s/ Andrew Marshak
	 	 	 Name: Andrew Marshak
 Title: Authorized
Signatory

			
	CSAM FUNDING III, as a Lender
		
	By:	 	/s/ Andrew Marshak
	 	 	 Name: Andrew Marshak
 Title: Authorized
Signatory

	
	CSAM FUNDING II, as a Lender
		
	By:	 	/s/ Andrew Marshak
	 	 	 Name: Andrew Marshak
 Title: Authorized
Signatory

	
	CSAM FUNDING IV, as a Lender
		
	By:	 	/s/ Andrew Marshak
	 	 	 Name: Andrew Marshak
 Title: Authorized
Signatory

	
	ATRIUM CDO, as a Lender
		
	By:	 	/s/ Andrew Marshak
	 	 	 Name: Andrew Marshak
 Title: Authorized
Signatory

	
	TRS CALLISTO, LLC, as a Lender
		
	By:	 	/s/ Alice L. Wagner
	 	 	 Name: Alice L. Wagner
 Title: Vice
President

			
	TRS LEDA LLC, as a Lender
		
	By:	 	/s/ Alice L. Wagner
	 	 	 Name: Alice L. Wagner
 Title: Vice
President

	
	 GRAYSON & CO.
 By: Boston Management and
Research, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

	
	 EATON VANCE INSTITUTIONAL SENIOR LOAN FUND
 By: Eaton Vance Management, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

	
	 EATON VANCE CDO III LTD.
 By: Eaton Vance
Management, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

			
	 CONSTANTINUS EATON VANCE CDO V LTD.
 By:
Eaton Vance Management, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

	
	 EATON VANCE CDO VI LTD.
 By: Eaton Vance
Management, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

	
	 BIG SKY SENIOR LOAN FUND, LTD.
 By: Eaton
Vance Management, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

	
	 EATON VANCE LIMITED DURATION INCOME FUND
 By:
Eaton Vance Management, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

			
	 EATON VANCE SENIOR INCOME TRUST
 By: Eaton
Vance Management, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

	
	 SENIOR DEBT PORTFOLIO
 By: Boston Management
and Research, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

	
	 OXFORD STRATEGIC INCOME FUND
 By: Eaton Vance
Management, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

	
	 TOLLI & CO.
 By: Eaton Vance Management,
as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

			
	 EATON VANCE SENIOR FLOATING-RATE TRUST
 By:
Eaton Vance Management, as Investment Advisor

		
	By:	 	/s/ Michael B. Botthof
	 	 	 Name: Michael B. Botthof
 Title: Vice
President

	
	FIDELITY ADVISOR SERIES II: FIDELITY ADVISOR FLOATING RATE HIGH INCOME FUND, as a Lender
		
	By:	 	/s/ John H. Costello
	 	 	 Name: John H. Costello
 Title: Assistant
Treasurer

	
	 BALLYROCK CDO I LIMITED,
 By: Ballyrock
Investment Advisors LLC, as Collateral Manager

		
	By:	 	/s/ Lisa Rymut
	 	 	 Name: Lisa Rymut
 Title: Assistant
Treasurer

	
	 BALLYROCK CLO II Limited,
 By: Ballyrock
Investment Advisors LLC, as Collateral Manager

		
	By:	 	/s/ Lisa Rymut
	 	 	 Name: Lisa Rymut
 Title: Assistant
Treasurer

			
	 GOLDENTREE LOAN OPPORTUNITIES II, LTD.
 By:
GoldenTree Asset Management, LP, as a Lender

		
	By:	 	/s/ Frederick S. Haddad
	 	 	 Name: Frederick S. Haddad
 Title: Portfolio
Manager

	
	 GOLDENTREE LOAN OPPORTUNITIES I, LTD.
 By:
GoldenTree Asset Management LP, as a Lender

		
	By:	 	/s/ Frederick S. Haddad
	 	 	 Name: Frederick S. Haddad
 Title: Portfolio
Manager

	
	1988 FUND, LTD., as a Lender
		
	By:	 	/s/ Kaitlin Trinh
	 	 	 Name: Kaitlin Trinh
 Title: Vice
President

	
	 GULF STREAM-COMPASS CLO 2003-1 LTD.
 By: Gulf
Stream Asset Management LLC, as Collateral Manager
 By: Gulf Stream Asset Management LLC, as a Lender

		
	By:	 	/s/ Barry K. Love
	 	 	 Name: Barry K. Love
 Title: Chief Credit
Officer

			
	 GULF STREAM-COMPASS CLO 2004-1 LTD
 By: Gulf
Stream Asset Management LLC, as Collateral Manager
 By: Gulf Stream Asset Management LLC, as a Lender

		
	By:	 	/s/ Barry K. Love
	 	 	 Name: Barry K. Love
 Title: Chief Credit
Officer

	
	 SEQUILS – PILGRIM I, LTD
 By: ING
Investments, LLC, as its Investment Manager

		
	By:	 	/s/ Michel Prince, CFA
	 	 	 Name: Michel Prince, CFA
 Title: Vice
President

	
	 ML CLO XV PILGRIM AMERICA (CAYMAN) LTD.
 By:
ING Investments, LLC, as its Investment Manager

		
	By:	 	/s/ Michel Prince, CFA
	 	 	 Name: Michel Prince, CFA
 Title: Vice
President

	
	 ING PRIME RATE TRUST
 By: Aeltus Investment
Management, Inc., as its Investment Manager

		
	By:	 	/s/ Michel Prince, CFA
	 	 	 Name: Michel Prince, CFA
 Title: Vice
President

			
	 ING SENIOR INCOME FUND
 By: Aeltus Investment
Management, Inc., as its Investment Manager

		
	By:	 	/s/ Michel Prince, CFA
	 	 	 Name: Michel Prince, CFA
 Title: Vice
President

	
	WHITNEY PRIVATE DEBT FUND, LP, as a Lender
		
	By:	 	/s/ Kevin J. Curley
	 	 	 Name: Kevin J. Curley
 Title: Authorized
Signatory

	
	 LCM I LIMITED PARTNERSHIP
 By: Lyon Capital
Management LLC, as Collateral Manager

		
	By:	 	/s/ Alexander B. Kenna
	 	 	 Name: Alexander B. Kenna
 Title: Portfolio
Manager

	
	 LCM II LIMITED PARTNERSHIP
 By: Lyon Capital
Management LLC, as Attorney-in-Fact

		
	By:	 	/s/ Alexander B. Kenna
	 	 	 Name: Alexander B. Kenna
 Title: Portfolio
Manager

			
	MORGAN STANLEY PRIME INCOME TRUST, as a Lender
		
	By:	 	/s/ Elizabeth Bodisch
	 	 	 Name: Elizabeth Bodisch
 Title: Authorized
Signatory

	
	MOUNTAIN CAPITAL CLO I LTD., as a Lender
		
	By:	 	/s/ Chris Siddons
	 	 	 Name: Chris Siddons
 Title:
Director

	
	MOUNTAIN CAPITAL CLO II LTD., as a Lender
		
	By:	 	/s/ Chris Siddons
	 	 	 Name: Chris Siddons
 Title:
Director

	
	MOUNTAIN CAPITAL CLO III LTD., as a Lender
		
	By:	 	/s/ Chris Siddons
	 	 	 Name: Chris Siddons
 Title:
Director

			
	 ELF FUNDING TRUST III, as a Lender
 By: New
York Life Investment Management LLC, as Attorney-in-Fact

		
	By:	 	/s/ Robert H. Dial
	 	 	 Name: Robert H. Dial
 Title:
Director

	
	 MAINSTAY FLOATING RATE FUND, A SERIES OF ECLIPSE FUNDS INC., as a Lender
 By: New York Life Investment Management LLC

		
	By:	 	/s/ Robert H. Dial
	 	 	 Name: Robert H. Dial
 Title:
Director

	
	 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION, as a Lender
 By: New York Life Investment Management LLC, its Investment Manager

		
	By:	 	/s/ Robert H. Dial
	 	 	 Name: Robert H. Dial
 Title:
Director

	
	 NYLIM FLATIRON CLO 2003-1 LTD., as a Lender
 By: New York Life Investment Management LLC, as Collateral Manager and Attorney-in-Fact

		
	By:	 	/s/ Robert H. Dial
	 	 	 Name: Robert H. Dial
 Title:
Director

			
	 NYLIM FLATIRON CLO 2004-1 LTD., as a Lender
 By: New York Life Investment Management LLC, as Collateral Manager and Attorney-in-Fact

		
	By:	 	/s/ Robert H. Dial
	 	 	 Name: Robert H. Dial
 Title:
Director

	
	 OCTAGON INVESTMENT PARTNERS III, LTD.
 By:
Octagon Credit Investors, LLC, as Portfolio Manager

		
	By:	 	/s/ Andrew D. Gordon
	 	 	 Name: Andrew D. Gordon
 Title: Portfolio
Manager

	
	 OCTAGON INVESTMENT PARTNERS V, LTD.
 By:
Octagon Credit Investors, LLC, as Portfolio Manager

		
	By:	 	/s/ Andrew D. Gordon
	 	 	 Name: Andrew D. Gordon
 Title: Portfolio
Manager

	
	 OCTAGON INVESTMENT PARTNERS IV, LTD.
 By:
Octagon Credit Investors, LLC, as Collateral Manager

		
	By:	 	/s/ Andrew D. Gordon
	 	 	 Name: Andrew D. Gordon
 Title: Portfolio
Manager

			
	 OCTAGON INVESTMENT PARTNERS IV, LTD.
 By:
Octagon Credit Investors, LLC, as Collateral Manager

		
	By:	 	/s/ Andrew D. Gordon
	 	 	 Name: Andrew D. Gordon
 Title: Portfolio
Manager

	
	 OCTAGON INVESTMENT PARTNERS VI, LTD.
 By:
Octagon Credit Investors, LLC, as Collateral Manager

		
	By:	 	/s/ Andrew D. Gordon
	 	 	 Name: Andrew D. Gordon
 Title: Portfolio
Manager

	
	 OCTAGON INVESTMENT PARTNERS VII, LTD.
 By:
Octagon Credit Investors, LLC, as Collateral Manager

		
	By:	 	/s/ Andrew D. Gordon
	 	 	 Name: Andrew D. Gordon
 Title: Portfolio
Manager

	
	HARBOUR VIEW CLO IV, LTD, as a Lender
		
	By:	 	/s/ Lisa Chaffee
	 	 	 Name: Lisa Chaffee
 Title: Assistant Vice
President

			
	HARBOR VIEW CLO V, LTD., as a Lender
		
	By:	 	/s/ Lisa Chaffee
	 	 	 Name: Lisa Chaffee
 Title: Assistant Vice
President

	
	OPPENHEIMER SENIOR FLOATING RATE FUND, as a Lender
		
	By:	 	/s/ Lisa Chaffee
	 	 	 Name: Lisa Chaffee
 Title: Assistant Vice
President

	
	PPM SHADOW CREEK FUNDING LLC, as a Lender
		
	By:	 	/s/ Diana M. Himes
	 	 	 Name: Diana M. Himes
 Title: Assistant Vice
President

	
	PPM SPYGLASS FUNDING TRUST, as a Lender
		
	By:	 	/s/ Diana M. Himes
	 	 	 Name: Diana M. Himes
 Title: Assistant Vice
President

	
	PPM MONARCH BAY FUNDING LLC, as a Lender
		
	By:	 	/s/ Diana M. Himes
	 	 	 Name: Diana M. Himes
 Title: Assistant Vice
President

			
	 TUSCANY CDO, LIMITED, as a Lender
 By: PPM
America, Inc., as a Collateral Manager

		
	By:	 	/s/ David C. Wagner
	 	 	 Name: David C. Wagner
 Title: Managing
Director

	
	 DRYDEN III LEVERAGED LOAN CDO 2002, as a Lender
 By: Prudential Investment Management, Inc., as Collateral Manager

		
	By:	 	/s/ B. Ross Smead
	 	 	 Name: B. Ross Smead
 Title: Vice
President

	
	 DRYDEN IV LEVERAGED LOAN CDO 2003, as a Lender
 By: Prudential Investment Management, Inc., as Collateral Manager

		
	By:	 	/s/ B. Ross Smead
	 	 	 Name: B. Ross Smead
 Title: Vice
President

	
	 DRYDEN LEVERAGED LOAN CDO 2002-II, as a Lender
 By: Prudential Investment Management, Inc., as Collateral Manager

		
	By:	 	/s/ B. Ross Smead
	 	 	 Name: B. Ross Smead
 Title: Vice
President

			
	 DRYDEN V LEVERAGED LOAN CDO 2003, as a Lender
 By: Prudential Investment Management, Inc., as Collateral Manager

		
	By:	 	/s/ B. Ross Smead
	 	 	 Name: B. Ross Smead
 Title: Vice
President

	
	 DRYDEN VII LEVERAGED LOAN CDO 2004, as a Lender
 By: Prudential Investment Management, Inc., as Collateral Manager

		
	By:	 	/s/ B. Ross Smead
	 	 	 Name: B. Ross Smead
 Title: Vice
President

	
	 LOAN FUNDING V, LLC, as a Lender
 By:
Prudential Investment Management, Inc., as Portfolio Manager

		
	By:	 	/s/ B. Ross Smead
	 	 	 Name: B. Ross Smead
 Title: Vice
President

	
	PUTNAM DIVERSIFIED INCOME TRUST
		
	By:	 	/s/ Beth Mazor
	 	 	 Name: Beth Mazor
 Title: Vice
President

			
	PUTNAM HIGH YIELD ADVANTAGE FUND
		
	By:	 	/s/ Beth Mazor
	 	 	 Name: Beth Mazor
 Title: Vice
President

	
	PUTNAM MASTER INCOME TRUST
		
	By:	 	/s/ Beth Mazor
	 	 	 Name: Beth Mazor
 Title: Vice
President

	
	PUTNAM MASTER INTERMEDIATE INCOME TRUST
		
	By:	 	/s/ Beth Mazor
	 	 	 Name: Beth Mazor
 Title: Vice
President

	
	PUTNAM PREMIER INCOME TRUST
		
	By:	 	/s/ Beth Mazor
	 	 	 Name: Beth Mazor
 Title: Vice
President

	
	PUTNAM VARIABLE TRUST – PVT DIVERSIFIED INCOME FUND
		
	By:	 	/s/ Beth Mazor
	 	 	 Name: Beth Mazor
 Title: Vice
President

			
	PUTNAM VARIABLE TRUST – PVT HIGH YIELD FUND
		
	By:	 	/s/ Beth Mazor
	 	 	 Name: Beth Mazor
 Title: Vice
President

	
	 SUNAMERICA LIFE INSURANCE COMPANY
 By: AIG
Global Investment Corp. Investment Advisor, as Lender

		
	By:	 	/s/ Steven S. Oh
	 	 	 Name: Steven S. Oh
 Title: Managing
Director

	
	 GALAXY CLO 1999-1, LTD.
 By: AIG Global
Investment Corp., as Collateral manager, as a Lender

		
	By:	 	/s/ Steven S. Oh
	 	 	 Name: Steven S. Oh
 Title: Managing
Director

	
	 GALAXY III CLO, LTD.
 By: AIG Global
Investment Corp., Investment Advisor, as a Lender

		
	By:	 	/s/ Steven S. Oh
	 	 	 Name: Steven S. Oh
 Title: Managing
Director

			
	KZH SOLEIL-2 LLC
		
	By:	 	/s/ Dorian Herrera
	 	 	 Name: Dorian Herrera
 Title: Authorized
Agent

	
	STANWICH LOAN FUNDING LLC, as a Lender
		
	By:	 	/s/ Diana M. Himes
	 	 	 Name: Diana M. Himes
 Title: Assistant Vice
President

	
	 APEX (TRIMARAN) CDO I, LTD, as a Lender
 By:
Trimaran Advisors, L.L.C.

		
	By:	 	/s/ David M. Millson
	 	 	 Name: David M. Millson
 Title: Managing
Director

	
	SAWGRASS TRADING LLC, as a Lender
		
	By:	 	/s/ Diana M. Himes
	 	 	 Name: Diana M. Himes
 Title: Assistant Vice
President

	
	 VAN KAMPEN SENIOR INCOME TRUST
 By: Van
Kampen Investment Advisory Corp., as a Lender

		
	By:	 	/s/ Brad Langs
	 	 	 Name: Brad Langs
 Title: Executive
Director

			
	 VAN KAMPEN SENIOR LOAN FUND
 By: Van Kampen
Investment Advisory Corp., as a Lender

		
	By:	 	/s/ Brad Langs
	 	 	 Name: Brad Langs
 Title: Executive
Director

  

 LENDER ADDENDUM 
  

Reference is made to the Third Amendment, to be dated as of August 19, 2004 and effective as of August 19, 2004 (the “Third Amendment”), to
the Credit Agreement, dated as of August 13, 2003, as amended by the First Amendment thereto, dated as of November 17, 2003, as further amended by the Second Amendment thereto, dated as of June 8, 2004 (the “Credit Agreement”), among
CONCENTRA INC., a Delaware corporation (“Holdings”), CONCENTRA OPERATING CORPORATION, a Nevada corporation (the “Borrower”), the several banks and other financial institutions from time to time parties thereto (the “Existing
Lenders”) and JPMORGAN CHASE BANK, a New York banking corporation, as administrative agent for the Lenders thereunder (in such capacity, the “Administrative Agent”). Unless otherwise defined herein, capitalized terms that are defined
in the Credit Agreement are used herein as therein defined. 
  
 The undersigned, in its capacity as an Existing Lender under the Credit Agreement, consents to all of the provisions of the Third Amendment for purposes of amending the Credit Agreement. 
  
 This Addendum shall not be construed as an obligation of the undersigned to
make or continue Replacement Term Loans to the Borrower under the Credit Agreement as of the date hereof. 
  

			
	 SENIOR LOAN PORTFOLIO
 BLACKROCK LIMITED DURATION INCOME TRUST,
 MAGNETITE ASSET INVESTORS L.C.C.,
 MAGNETITE ASSET INVESTORS III L.L.C.,
 MAGNETITE IV CLO, LIMITED,
 MAGNETITE V CLO, LIMITED, and BLACKROCK
 SENIOR INCOME SERIES, as Lenders

	 By:
	 	 /s/ Tom Colwell

	 Name:
	 	 Tom Colwell

	 Title:
	 	 Authorized Signatory

  
 Dated as of August     , 2004 

 LENDER ADDENDUM 
  

Reference is made to the Third Amendment, to be dated as of August 19, 2004 and effective as of August 19, 2004 (the “Third Amendment”), to
the Credit Agreement, dated as of August 13, 2003, as amended by the First Amendment thereto, dated as of November 17, 2003, as further amended by the Second Amendment thereto, dated as of June 8, 2004 (the “Credit Agreement”), among
CONCENTRA INC., a Delaware corporation (“Holdings”), CONCENTRA OPERATING CORPORATION, a Nevada corporation (the “Borrower”), the several banks and other financial institutions from time to time parties thereto (the “Existing
Lenders”) and JPMORGAN CHASE BANK, a New York banking corporation, as administrative agent for the Lenders thereunder (in such capacity, the “Administrative Agent”). Unless otherwise defined herein, capitalized terms that are defined
in the Credit Agreement are used herein as therein defined. 
  
 The undersigned, in its capacity as an Existing Lender under the Credit Agreement, consents to all of the provisions of the Third Amendment for purposes of amending the Credit Agreement. 
  
 This Addendum shall not be construed as an obligation of the undersigned to
make or continue Replacement Term Loans to the Borrower under the Credit Agreement as of the date hereof. 
  

			
	 AURUM CLO 2002-1 LTD.
 By: Columbia Management Advisors, Inc. as Investment Manager as a Lender

		
	By:	 	 /s/ Thomas R. Bouchard

	 	 	 Name:  Thomas R. Bouchard

	 	 	 Title:    Vice President

  
 Dated as of August     , 2004 

 LENDER ADDENDUM 
  

Reference is made to the Third Amendment, to be dated as of August 19, 2004 and effective as of August 19, 2004 (the “Third
Amendment”), to the Credit Agreement, dated as of August 13, 2003, as amended by the First Amendment thereto, dated as of November 17, 2003, as further amended by the Second Amendment thereto, dated as of June 8, 2004 (the “Credit
Agreement”), among CONCENTRA INC., a Delaware corporation (“Holdings”), CONCENTRA OPERATING CORPORATION, a Nevada corporation (the “Borrower”), the several banks and other financial institutions from time
to time parties thereto (the “Existing Lenders”) and JPMORGAN CHASE BANK, a New York banking corporation, as administrative agent for the Lenders thereunder (in such capacity, the “Administrative Agent”). Unless
otherwise defined herein, capitalized terms that are defined in the Credit Agreement are used herein as therein defined. 
  
 The undersigned, in its capacity as an Existing Lender under the Credit Agreement, consents to all of the provisions of the Third Amendment for purposes
of amending the Credit Agreement. 
  
 This Addendum shall not be
construed as an obligation of the undersigned to make or continue Replacement Term Loans to the Borrower under the Credit Agreement as of the date hereof. 
  

			
	 STANFIELD ARBITRAGE CDO, LTD.
 By: Stanfield
Capital Partners LLC, as its Collateral Manager

		
	By:	 	 /s/ Christopher E. Jansen

	 	 	 Name:  Christopher E. Jansen

	 	 	 Title:    Managing Partner

  
 Dated as of August 16, 2004 

 LENDER ADDENDUM 
  

Reference is made to the Third Amendment, to be dated as of August 19, 2004 and effective as of August 19, 2004 (the “Third
Amendment”), to the Credit Agreement, dated as of August 13, 2003, as amended by the First Amendment thereto, dated as of November 17, 2003, as further amended by the Second Amendment thereto, dated as of June 8, 2004 (the “Credit
Agreement”), among CONCENTRA INC., a Delaware corporation (“Holdings”), CONCENTRA OPERATING CORPORATION, a Nevada corporation (the “Borrower”), the several banks and other financial institutions from time
to time parties thereto (the “Existing Lenders”) and JPMORGAN CHASE BANK, a New York banking corporation, as administrative agent for the Lenders thereunder (in such capacity, the “Administrative Agent”). Unless
otherwise defined herein, capitalized terms that are defined in the Credit Agreement are used herein as therein defined. 
  
 The undersigned, in its capacity as an Existing Lender under the Credit Agreement, consents to all of the provisions of the Third Amendment for purposes
of amending the Credit Agreement. 
  
 This Addendum shall not be
construed as an obligation of the undersigned to make or continue Replacement Term Loans to the Borrower under the Credit Agreement as of the date hereof. 
  

			
	 STANFIELD QUATTRO CLO, LTD.
 By: Stanfield Capital Partners LLC, as its Collateral Manager

		
	By:	 	 /s/ Christopher E. Jansen

	 	 	 Name:  Christopher E. Jansen

	 	 	 Title:    Managing Partner

  
 Dated as of August 16, 2004 

 LENDER ADDENDUM 
  

Reference is made to the Third Amendment, to be dated as of August 19, 2004 and effective as of August 19, 2004 (the “Third
Amendment”), to the Credit Agreement, dated as of August 13, 2003, as amended by the First Amendment thereto, dated as of November 17, 2003, as further amended by the Second Amendment thereto, dated as of June 8, 2004 (the “Credit
Agreement”), among CONCENTRA INC., a Delaware corporation (“Holdings”), CONCENTRA OPERATING CORPORATION, a Nevada corporation (the “Borrower”), the several banks and other financial institutions from time
to time parties thereto (the “Existing Lenders”) and JPMORGAN CHASE BANK, a New York banking corporation, as administrative agent for the Lenders thereunder (in such capacity, the “Administrative Agent”). Unless
otherwise defined herein, capitalized terms that are defined in the Credit Agreement are used herein as therein defined. 
  
 The undersigned, in its capacity as an Existing Lender under the Credit Agreement, consents to all of the provisions of the Third Amendment for purposes
of amending the Credit Agreement. 
  
 This Addendum shall not be
construed as an obligation of the undersigned to make or continue Replacement Term Loans to the Borrower under the Credit Agreement as of the date hereof. 
  

			
	 SUNAMERICA SENIOR FLOATING RATE
 FUND INC.

	 By: Stanfield Capital Partners LLC, as subadvisor

		
	 By:
	 	 /s/ Christopher E. Jansen

	 	 	 Name: Christopher E. Jansen
 Title: Managing Partner

  
 Dated as of August 16, 2004 

 LENDER ADDENDUM 
  

Reference is made to the Third Amendment, to be dated as of August 19, 2004 and effective as of August 19, 2004 (the “Third
Amendment”), to the Credit Agreement, dated as of August 13, 2003, as amended by the First Amendment thereto, dated as of November 17, 2003, as further amended by the Second Amendment thereto, dated as of June 8, 2004 (the “Credit
Agreement”), among CONCENTRA INC., a Delaware corporation (“Holdings”), CONCENTRA OPERATING CORPORATION, a Nevada corporation (the “Borrower”), the several banks and other financial institutions from time
to time parties thereto (the “Existing Lenders”) and JPMORGAN CHASE BANK, a New York banking corporation, as administrative agent for the Lenders thereunder (in such capacity, the “Administrative Agent”). Unless
otherwise defined herein, capitalized terms that are defined in the Credit Agreement are used herein as therein defined. 
  
 The undersigned, in its capacity as an Existing Lender under the Credit Agreement, consents to all of the provisions of the Third Amendment for purposes
of amending the Credit Agreement. 
  
 This Addendum shall not be
construed as an obligation of the undersigned to make or continue Replacement Term Loans to the Borrower under the Credit Agreement as of the date hereof. 
  

			
	 WINDSOR LOAN FUNDING, LIMITED

	 By: Stanfield Capital Partners LLC, as its
 Investment Manager

		
	 By:
	 	 /s/ Christopher E. Jansen

	 	 	 Name: Christopher E. Jansen
 Title: Managing Partner

  
 Dated as of August 16, 2004

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