Document:

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                                                                     EXHIBIT 4.9

                                                                  EXECUTION COPY

                          PLEDGE AND SECURITY AGREEMENT

     THIS PLEDGE AND SECURITY AGREEMENT is entered into as of March 21, 2003 by
and between United Stationers Supply Co., an Illinois corporation (the
"Borrower"), United Stationers Inc., a Delaware corporation (the "Parent"), and
the other Subsidiaries of the Parent listed on the signature page hereto
(together with the Borrower and the Parent, collectively, the "Initial
Grantors," and together with any additional Domestic Subsidiaries, whether now
existing or hereafter formed which become parties to this Security Agreement by
executing a Supplement hereto in substantially the form of Annex I, the
"Grantors"), and Bank One, NA, a national banking association having its
principal office in Chicago, Illinois, in its capacity as agent (the "Agent")
for the lenders party to the Credit Agreement referred to below.

                              PRELIMINARY STATEMENT

     The Borrower, the Parent, the Agent and the Lenders are entering into a
Five-Year Revolving Credit Agreement dated as of March 21, 2003 (as it may be
amended, restated, supplemented or otherwise modified from time to time, the
"Credit Agreement"). The Grantors are entering into this Pledge and Security
Agreement (as it may be amended, restated, supplemented or otherwise modified
from time to time, the "Security Agreement") in order to induce the Lenders to
enter into and extend credit to the Borrower under the Credit Agreement.

     ACCORDINGLY, the Grantors and the Agent, on behalf of the Holders of
Secured Obligations, hereby agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

     1.1.   TERMS DEFINED IN CREDIT AGREEMENT. All capitalized terms used herein
and not otherwise defined shall have the meanings assigned to such terms in the
Credit Agreement.

     1.2.   TERMS DEFINED IN NEW YORK UNIFORM COMMERCIAL CODE. Terms defined in
the New York UCC which are not otherwise defined in this Security Agreement are
used herein as defined in the New York UCC.

     1.3.   DEFINITIONS OF CERTAIN TERMS USED HEREIN. As used in this Security
Agreement, in addition to the terms defined in the Preliminary Statement, the
following terms shall have the following meanings:

     "Accounts" shall have the meaning set forth in Article 9 of the New York
UCC or in the PPSA, as applicable.

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     "Article" means a numbered article of this Security Agreement, unless
another document is specifically referenced.

     "Chattel Paper" shall have the meaning set forth in Article 9 of the New
York UCC or in the PPSA, as applicable.

     "Collateral" means all Accounts, Chattel Paper, Commercial Tort Claims,
Documents, Equipment, Fixtures, General Intangibles, Instruments, Inventory,
Investment Property, Pledged Deposits, Pledged Stock and Other Collateral,
wherever located, in which any Grantor now has or hereafter acquires any right
or interest, and the proceeds (including Stock Rights), insurance proceeds and
products thereof, together with all books and records, customer lists, credit
files, computer files, programs, printouts and other computer materials and
records related thereto.

     "Commercial Tort Claims" means those certain currently existing commercial
tort claims of any Grantor, including each commercial tort claim specifically
described in Exhibit "E".

     "Control" shall have the meaning set forth in Article 8 or, if applicable,
in Section 9-104, 9-105, 9-106 or 9-107 of Article 9 of the New York UCC.

     "Customer Advance Notes" shall mean customer advance notes permitted under
the Credit Agreement.

     "Default" means an event described in Section 5.1.

     "Deposit Accounts" shall have the meaning set forth in Article 9 of the New
York UCC.

     "Documents" shall have the meaning set forth in Article 9 of the New York
UCC.

     "Equipment" shall have the meaning set forth in Article 9 of the New York
UCC or in the PPSA, as applicable.

     "Exhibit" refers to a specific exhibit to this Security Agreement, unless
another document is specifically referenced.

     "Fixtures" shall have the meaning set forth in Article 9 of the New York
UCC.

     "General Intangibles" shall have the meaning set forth in Article 9 of the
New York UCC or the meaning of "intangibles" as set forth in the PPSA, as
applicable.

     "Instruments" shall have the meaning set forth in Article 9 of the New York
UCC or in the PPSA, as applicable.

     "Inventory" shall have the meaning set forth in Article 9 of the New York
UCC or in the PPSA, as applicable.

     "Investment Property" shall have the meaning set forth in Article 9 of the
New York UCC.

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     "New York UCC" means the New York Uniform Commercial Code AS IN EFFECT FROM
TIME TO TIME.

     "Other Collateral" means any property of the Grantors, other than real
estate, not included within the defined terms Accounts, Chattel Paper,
Commercial Tort Claims, Documents, Equipment, Fixtures, General Intangibles,
Instruments, Inventory, Investment Property and Pledged Deposits, including,
without limitation, all cash on hand, letter-of-credit rights, letters of
credit, Stock Rights and Deposit Accounts or other deposits (general or special,
time or demand, provisional or final) with any bank or other financial
institution, it being intended that the Collateral include all property of the
Grantors other than real estate (subject to the limitations set forth in
Article II).

     "Paid in Full" means (i) the payment in full in cash of the Secured
Obligations (other than contingent indemnity obligations), (ii) the termination
of all Commitments and (iii) the termination and/or cash collateralization of
all Facility LCs, in each case, in accordance with the Credit Agreement. The
term "Payment in Full" shall have a correlative meaning.

     "Pledged Deposits" means all time deposits of money (other than Deposit
Accounts and Instruments), whether or not evidenced by certificates, which a
Grantor may from time to time designate as pledged to the Agent or to any Holder
of Secured Obligations as security for any Obligation, and all rights to receive
interest on said deposits.

     "Pledged Stock" means, with respect to any Grantor, the shares of common
and preferred stock (or other ownership interest) of each issuer identified in
Exhibit "C" under the name of such Grantor and all other shares of capital stock
(or other ownership interest) of whatever class of each such issuer, now or
hereafter owned by such Grantor, and all certificates evidencing the same, and
shall include, without limitation, all of the capital stock of the Parent's
Domestic Subsidiaries (other than TOPCO) owned by such Grantor and the requisite
percentage of the capital stock of all Material Foreign Subsidiaries required to
be pledged pursuant to the Credit Agreement and owned by such Grantor.

     "PPSA" shall mean the PERSONAL PROPERTY SECURITY ACT in effect from time to
time in the Province of Ontario or such similar legislation in effect in any
other Province of Canada, as applicable, as amended or supplemented from time to
time.

     "Receivables" means the Accounts, Chattel Paper, Documents, Investment
Property, Instruments or Pledged Deposits, and any other rights or claims to
receive money which are General Intangibles or which are otherwise included as
Collateral.

     "Required Secured Parties" means (x) prior to an acceleration of the
Secured Obligations under the Credit Agreement, the Required Lenders, (y) after
an acceleration of the Secured Obligations under the Credit Agreement but prior
to the date upon which the Credit Agreement has terminated by its terms and all
of the Secured Obligations thereunder have been paid in full, Lenders and their
Affiliates holding in the aggregate more than 50% of the total of (i) the unpaid
principal amount of the Aggregate Outstanding Credit Exposure and (ii) the
aggregate net early termination payments and all other amounts then due and
unpaid from the Borrower to the Lenders or their Affiliates under Rate
Management Transactions, as determined by the Agent in

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its reasonable discretion, and (z) after the Credit Agreement has terminated by
its terms and all of the Secured Obligations thereunder have been paid in full
(whether or not the Secured Obligations under the Credit Agreement were ever
accelerated), Lenders and their Affiliates (at the time of such termination)
holding in the aggregate more than 50% of the aggregate net early termination
payments and all other amounts then due and unpaid from the Borrower to the
Lenders or their Affiliates under Rate Management Transactions, as determined by
the Agent in its reasonable discretion.

     "Section" means a numbered section of this Security Agreement, unless
another document is specifically referenced.

     "Security" has the meaning set forth in Article 8 of the New York UCC or in
the PPSA, as applicable.

     "Stock Rights" means any securities, dividends or other distributions and
any other right or property which any Grantor shall receive or shall become
entitled to receive for any reason whatsoever with respect to, in substitution
for or in exchange for any securities or other ownership interests in a
corporation, partnership, joint venture or limited liability company
constituting Collateral and any securities, any right to receive securities and
any right to receive earnings, in which any Grantor now has or hereafter
acquires any right, issued by an issuer of such securities.

     "Supporting Obligation" shall have the meaning set forth in Article 9 of
the New York UCC.

     The foregoing definitions shall be equally applicable to both the singular
and plural forms of the defined terms.

                                   ARTICLE II

                           GRANT OF SECURITY INTEREST

     Each of the Grantors hereby pledges, assigns and grants to the Agent, on
behalf of and for the ratable benefit of the Holders of Secured Obligations, a
security interest in all of such Grantor's right, title and interest, whether
now owned or hereafter acquired, in and to the Collateral to secure the prompt
and complete payment and performance of the Secured Obligations.

     Notwithstanding the foregoing, the Collateral shall not include (i) (a) any
Accounts, General Intangibles, Chattel Paper, Instruments, Documents or
Investment Property which constitute Receivables subject to any Receivables
Purchase Facility permitted under the Credit Agreement, and (b) any Deposit
Accounts maintained in accordance with the requirements of the applicable
Receivables Purchase Facility into which collections and other amounts related
to those items described in clause (i)(a) are deposited (collectively, the
"Securitization Collateral"), (ii) any Property to the extent that such grant of
a security interest is prohibited by any applicable law or governmental
authority, requires a consent not obtained of any governmental authority
pursuant to any applicable law or is prohibited by, or constitutes a breach or
default under or results in the termination of or requires any consent not
obtained under, any contract, license,

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agreement, instrument or other document evidencing or giving rise to such
property or, in the case of any investment property, any applicable shareholder
or similar agreement, except to the extent that such applicable law or the term
in such contract, license, agreement, instrument or other document or
shareholder or similar agreement providing for such prohibition, breach, default
or termination of requiring such consent is ineffective under applicable law,
(iii) with respect to any shares of stock or other ownership interests in any
first-tier Foreign Subsidiary, the excess over 65% of all of the voting shares
of stock or equity interests in such Foreign Subsidiary and (iv) any stock or
other ownership interests of any Subsidiary of any first-tier Foreign
Subsidiary. The Agent's security interest in any item constituting
Securitization Collateral shall be released upon the sale, contribution or
transfer thereof under the terms of the applicable Receivables Purchase
Facility.

     Each of the Grantors acknowledges, for the purposes of the PPSA, that (i)
value has been given, (ii) it has rights in the Collateral (other than
after-acquired Collateral), (iii) it has not agreed to postpone the time of
attachment of the security interest in the Collateral and (iv) it has received a
duplicate copy of this Security Agreement.

                                   ARTICLE III

                         REPRESENTATIONS AND WARRANTIES

     Each of the Initial Grantors represents and warrants to the Agent and the
Holders of Secured Obligations, and each Grantor that becomes a party to this
Security Agreement pursuant to the execution of a Security Agreement Supplement
in substantially the form of Annex I represents and warrants (after giving
effect to supplements to each of the Exhibits hereto with respect to such
subsequent Grantor as attached to such Security Agreement Supplement), that:

     3.1.   TITLE, AUTHORIZATION, VALIDITY AND ENFORCEABILITY. Such Grantor has
good and valid rights in or the power to transfer the Collateral owned by it and
title to the Collateral with respect to which it has purported to grant a
security interest hereunder, free and clear of all Liens except for Liens
permitted under Section 4.1.3, and has full corporate, limited liability company
or partnership, as applicable, power and authority to grant to the Agent the
security interest in such Collateral pursuant hereto. The execution and delivery
by such Grantor of this Security Agreement has been duly authorized by proper
corporate, limited liability company or partnership, as applicable, proceedings,
and this Security Agreement constitutes a legal, valid and binding obligation of
such Grantor and creates a security interest which is enforceable against such
Grantor in all Collateral it now owns or hereafter acquires, except as
enforceability may be limited by (i) bankruptcy, insolvency, fraudulent
conveyances, reorganization or similar laws relating to or affecting the
enforcement of creditors' rights generally, (ii) general equitable principles
(whether considered in a proceeding in equity or at law), and (iii) requirements
of reasonableness, good faith and fair dealing. When financing statements have
been filed in the appropriate offices against such Grantor in the locations
listed on Exhibit "D", the Agent will have a fully perfected first priority
security interest in the Collateral owned by such Grantor in which a security
interest may be perfected by filing under the applicable Uniform Commercial Code
or PPSA, as applicable, subject to Liens permitted under Section 6.15 of the
Credit Agreement, provided that nothing herein shall be deemed to constitute an
agreement to

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subordinate any of the Liens of the Agent under the Loan Documents to any Liens
otherwise permitted under Section 6.15 of the Credit Agreement (other than
Permitted Priority Liens).

     3.2.   CONFLICTING LAWS AND CONTRACTS. Neither the execution and delivery
by such Grantor of this Security Agreement, the creation and perfection of the
security interest in the Collateral granted hereunder, nor compliance with the
terms and provisions hereof will violate (i) any applicable law, rule,
regulation, order, writ, judgment, injunction, decree or award binding on such
Grantor, or (ii) such Grantor's charter, articles or by-laws (or similar
constitutive documents), or (iii) the provisions of any indenture, material
instrument or material agreement to which such Grantor is a party or is subject,
or by which it, or its Property is bound or affected, or conflict with or
constitute a default thereunder, or result in or require the creation or
imposition of any Lien in, of or on the Property of such Grantor pursuant to the
terms of any such indenture, material instrument or material agreement (other
than any Lien of the Agent on behalf of the Holders of Secured Obligations).

     3.3.   TYPE AND JURISDICTION OF ORGANIZATION. As of the date of the
compliance certificate most recently delivered to the Agent pursuant to
Section 6.1.3 of the Credit Agreement in connection with the most recent annual
financial statements of the Parent delivered pursuant to Section 6.1.1 of the
Credit Agreement (or, for the period prior to the delivery of the first such
compliance certificate, as of the Closing Date) (such date being the "Reference
Date"), the Borrower is a corporation organized under the laws of the State of
Illinois; each of United Stationers Technology Services LLC and United
Stationers Financial Services LLC is a limited liability company organized under
the laws of the State of Illinois; each of the Parent and Azerty Incorporated is
a corporation organized under the laws of the State of Delaware; and Lagasse,
Inc. is a corporation organized under the laws of the State of Louisiana, in
each case, except to the extent such Person has been merged with or into any
other Person in a transaction permitted by the Credit Agreement or such Person
has complied with the requirements of Section 4.1.4, and in each case, this
representation shall be deemed amended to make reference to the correct Person,
type of entity and/or jurisdiction, as applicable.

     3.4.   PRINCIPAL LOCATION. As of the Reference Date, such Grantor's mailing
address and the location of its place of business (if it has only one) or its
chief executive office (if it has more than one place of business), is disclosed
in Exhibit "A"; such Grantor has no other places of business except those set
forth in Exhibit "A".

     3.5.   PROPERTY LOCATIONS. As of the Reference Date, the Inventory,
Equipment and Fixtures of each Grantor are located solely at the locations of
such Grantor described in Exhibit "A", except for such Inventory, Equipment or
Fixtures which (i) are out for repair, (ii) have been sold or otherwise disposed
of in accordance with the terms of the Credit Agreement, (iii) are in transit to
a place described in Exhibit "A" or (iv) when taken together, have a net book
value in the aggregate of $10,000,000 or less. All of said locations are owned
by such Grantor except for locations (i) which are leased by such Grantor as
lessee and designated in Part B of Exhibit "A" and (ii) at which Inventory or
Equipment is held in a public warehouse or is otherwise held by a bailee or on
consignment by such Grantor as designated in Part C of Exhibit "A".

     3.6.   NO OTHER NAMES. Except as set forth on Exhibit "A", during the three
year period prior to the Closing Date and from the Closing Date through and
including the Reference Date,

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such Grantor has not conducted business under any name except the name in which
it has executed this Security Agreement, which is the exact name as it appears
in such Grantor's organizational documents, as amended, as filed with such
Grantor's jurisdiction of organization as of the Closing Date.

     3.7.   ACCOUNTS AND CHATTEL PAPER. The names of the obligors, amounts
owing, due dates and other information with respect to the Accounts and Chattel
Paper owned by such Grantor are correctly stated, in all material respects, in
all records of such Grantor relating thereto and in all invoices and reports
with respect thereto furnished to the Agent by such Grantor from time to time.
As of the time when each Account or each item of Chattel Paper arises, such
Grantor shall be deemed to have represented and warranted that such Account or
Chattel Paper, as the case may be, and all records relating thereto, are genuine
and in all material respects what they purport to be.

     3.8.   FILING REQUIREMENTS. As of the Reference Date, none of the Equipment
owned by such Grantor is covered by any certificate of title required to be
delivered pursuant to Section 4.3.2, except for the vehicles described in Part A
of Exhibit "B". As of the Reference Date, none of the Collateral owned by such
Grantor is of a type for which security interests or liens may be perfected by
filing under any federal statute except for (i) the vehicles described in Part B
of Exhibit "B" and (ii) patents, trademarks and copyrights held by such Grantor
and described in Part C of Exhibit "B".

     3.9.   NO FINANCING STATEMENTS. No financing statement describing all or
any portion of the Collateral which has not lapsed or been terminated naming
such Grantor as debtor has been filed in any jurisdiction except financing
statements (i) naming the Agent on behalf of the Holders of Secured Obligations
as the secured party and (ii) in respect of Liens permitted by Section 6.15 of
the Credit Agreement; PROVIDED, that nothing herein shall be deemed to
constitute an agreement to subordinate any of the Liens of the Agent under the
Loan Documents to any Liens otherwise permitted under Section 6.15 of the Credit
Agreement (other than Permitted Priority Liens).

     3.10.  FEDERAL EMPLOYER IDENTIFICATION NUMBER; STATE ORGANIZATION NUMBER.
Such Grantor's Federal employer identification number is, and if such Grantor is
a registered organization, such Grantor's State organization number is set forth
on Exhibit "A".

     3.11.  PLEDGED SECURITIES AND OTHER INVESTMENT PROPERTY. As of the
Reference Date, Exhibit "C" sets forth a complete and accurate list of the
Pledged Stock, and to the extent the same has a value in excess of $5,000,000
individually or $10,000,000 in the aggregate, Instruments, Securities and other
Investment Property (to the extent the same do not constitute Cash Equivalent
Investments or Customer Advance Notes) delivered to the Agent. Each Grantor is
the direct and beneficial owner of each Instrument, Security and other type of
Investment Property listed on Exhibit "C" as being owned by it, free and clear
of any Liens, except for the security interest granted to the Agent for the
benefit of the Holders of Secured Obligations hereunder. Each Grantor further
represents and warrants that (i) all Pledged Stock which are shares of stock in
a corporation or ownership interests in a partnership or limited liability
company have been (to the extent such concepts are relevant with respect to such
Pledged Stock) duly and validly issued, are fully paid and non-assessable and
constitute, as of the Reference

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Date, the percentage of the issued and outstanding shares of stock (or other
equity interests) of the respective issuers thereof indicated on Exhibit "C"
hereto and (ii) with respect to any certificates delivered to the Agent
representing an ownership interest in a partnership or limited liability
company, either such certificates are Securities as defined in Article 8 of the
Uniform Commercial Code of the applicable jurisdiction or in the PPSA, as
applicable, as a result of actions by the issuer or otherwise, or, if such
certificates are not Securities, such Grantor has so informed the Agent so that
the Agent may take steps to perfect its security interest therein as a General
Intangible.

                                   ARTICLE IV

                                    COVENANTS

     From the date of this Security Agreement and thereafter until this Security
Agreement is terminated in accordance with Section 8.14, each of the Initial
Grantors agrees, and from and after the effective date of any Security Agreement
Supplement applicable to any Grantor (and after giving effect to supplements to
each of the Exhibits hereto with respect to such subsequent Grantor as attached
to such Security Agreement Supplement) and thereafter until this Security
Agreement is terminated in accordance with Section 8.14 each such subsequent
Grantor agrees:

     4.1.   GENERAL.

            4.1.1   COMPLIANCE WITH CREDIT AGREEMENT. Each of the Grantors
     covenants that, so long as any Lender has any Commitment outstanding under
     the Credit Agreement or any amount payable under the Credit Agreement or
     any other Secured Obligations (other than contingent indemnity obligations)
     shall remain unpaid, it will, and, if necessary, will enable the Borrower
     and the Parent to, fully comply with those covenants and agreements of the
     Borrower and the Parent applicable to such Grantor set forth in the Credit
     Agreement.

            4.1.2   FINANCING STATEMENTS AND OTHER ACTIONS; DEFENSE OF TITLE.
     Each Grantor hereby authorizes the Agent to file, and if requested will
     execute and deliver to the Agent, all financing statements describing the
     Collateral owned by such Grantor and other documents and take such other
     actions as may from time to time reasonably be requested by the Agent in
     order to maintain a first perfected security interest in and, if
     applicable, Control of, the Collateral owned by such Grantor, subject to
     Liens permitted under Section 6.15 of the Credit Agreement, provided that
     nothing herein shall be deemed to constitute an agreement to subordinate
     any of the Liens of the Agent under the Loan Documents to any Liens
     otherwise permitted under Section 6.15 of the Credit Agreement (other than
     Permitted Priority Liens). Such financing statements may describe the
     Collateral in the same manner as described herein or may contain an
     indication or description of collateral that describes such property in any
     other manner as the Agent may determine, in its sole discretion, is
     necessary, advisable or prudent to ensure that the perfection of the
     security interest in the Collateral granted to the Agent herein. Each
     Grantor will take any and all actions necessary to defend title to the
     Collateral owned by such Grantor against all persons and to defend the
     security interest of the Agent in such Collateral and the priority thereof
     against any Lien not expressly

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     permitted hereunder. During the continuance of a Default the Borrower
     shall, upon the request of the Agent, provide a written summary of each
     property on which any Fixtures are located by any Grantor, including the
     legal description, county and street address of such property, together
     with the name and address of the record owner of each such property.

            4.1.3   LIENS. No Grantor will create, incur, or suffer to exist any
     Lien on the Collateral owned by such Grantor except Liens permitted
     pursuant to Section 6.15 of the Credit Agreement, provided that nothing
     herein shall be deemed to constitute an agreement to subordinate any of the
     Liens of the Agent under the Loan Documents to any Liens otherwise
     permitted under Section 6.15 of the Credit Agreement (other than Permitted
     Priority Liens).

            4.1.4   CHANGE IN CORPORATE EXISTENCE, TYPE OR JURISDICTION OF
     ORGANIZATION, LOCATION, NAME. Each Grantor will, subject to Section 6.11 of
     the Credit Agreement:

     (i)    preserve its existence and corporate structure as in effect on the
            Closing Date;

     (ii)   not change its jurisdiction of organization;

     (iii)  not maintain its place of business (if it has only one) or its chief
            executive office (if it has more than one place of business) at a
            location other than a location specified on Exhibit "A;" and

     (iv)   not (a) have any Inventory, Equipment or Fixtures or proceeds or
            products thereof at a location other than a location specified in
            Exhibit "A", except for such Inventory, Equipment or Fixtures which
            (W) are out for repair, (X) have been sold or otherwise disposed of
            in accordance with the terms of the Credit Agreement, (Y) are in
            transit to a place described in Exhibit "A" or (Z) when taken
            together, have an aggregate net book value of $10,000,000 or less,
            (b) change its name or taxpayer identification number or (c) change
            its mailing address,

     unless, in each such case, such Grantor shall have given the Agent not less
     than 15 Business Days' (or such shorter time as to which the Agent and the
     Grantor shall agree) prior written notice of such event or occurrence and
     the Agent shall have either (x) determined that such event or occurrence
     will not adversely affect the validity, perfection or priority of the
     Agent's security interest in the Collateral, or (y) taken such steps (with
     the cooperation of such Grantor to the extent necessary or advisable) as
     are necessary or advisable to properly maintain the validity, perfection
     and priority of the Agent's security interest in the Collateral owned by
     such Grantor.

            4.1.5   OTHER FINANCING STATEMENTS. No Grantor will suffer to exist,
     or sign or authorize the signing on its behalf or the filing of any
     financing statement naming it as debtor covering all or any portion of the
     Collateral owned by such Grantor, except any financing statement (i)
     authorized under Section 4.1.2 or (ii) filed to perfect a Lien permitted by
     Section 6.15 of the Credit Agreement; PROVIDED, that nothing herein shall
     be deemed to constitute an agreement to subordinate any of the Liens of the
     Agent under the

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     Loan Documents to any Liens otherwise permitted under Section 6.15 of the
     Credit Agreement (other than Permitted Priority Liens).

     4.2.   RECEIVABLES.

            4.2.1   COLLECTION OF RECEIVABLES. Except as otherwise provided in
     this Security Agreement, each Grantor will collect and enforce, at such
     Grantor's sole expense and in its ordinary course of business, all amounts
     due or hereafter due to such Grantor under the Receivables owned by such
     Grantor.

            4.2.2   DELIVERY OF INVOICES. Each Grantor will deliver to the Agent
     promptly upon its request after the occurrence and during the continuance
     of a Default duplicate invoices with respect to each Account owned by such
     Grantor and otherwise constituting Collateral hereunder bearing such
     language of assignment as the Agent shall specify.

            4.2.3   DISCLOSURE OF RECEIVABLES. Upon the reasonable request of
     the Agent, each Grantor shall deliver to the Agent copies of any periodic
     reports prepared with respect to Receivables in connection with any
     Receivables Purchase Facility.

     4.3.   INVENTORY AND EQUIPMENT.

            4.3.1   BAILMENT AGREEMENTS, ETC. With respect to each location
     (other than properties owned or leased by such Grantor) at which Inventory
     (other than catalogs) and/or Equipment with a net book value in excess of
     $10,000,000 is located, each Grantor shall deliver bailment agreements,
     warehouse receipts, financing statements or other documents reasonably
     satisfactory to the Agent to protect the Agent's and the Holders of Secured
     Obligations' security interest in such Inventory and/or Equipment.

            4.3.2   TITLED VEHICLES. Upon the occurrence and during the
     continuance of a Default, each Grantor will give the Agent notice of its
     acquisition of any vehicle covered by a certificate of title the net book
     value of which, when taken together with all other vehicles covered by a
     certificate of title owned by any Grantor, exceeds $10,000,000 in the
     aggregate, and deliver to the Agent, upon request, the original of any
     vehicle title certificate and do all things necessary to have the Lien of
     the Agent noted on any such certificate to eliminate such excess.

     4.4.   INSTRUMENTS, SECURITIES, CHATTEL PAPER, DOCUMENTS AND PLEDGED
DEPOSITS. Each Grantor will (i) deliver to the Agent immediately upon execution
of this Security Agreement the originals of all Pledged Stock, and, to the
extent the same has a value in excess of $5,000,000 individually or $10,000,000
in the aggregate, originals of all Chattel Paper, Securities and Instruments
constituting Collateral (if any then exist and other than those constituting
Cash Equivalent Investments or Customer Advance Notes), (ii) hold in trust for
the Agent upon receipt and immediately thereafter deliver to the Agent any
Pledged Stock, and, to the extent the same has a value in excess of $5,000,000
individually or $10,000,000 in the aggregate, originals of Chattel Paper,
Securities and Instruments constituting Collateral (other than those
constituting Cash Equivalent Investments or Customer Advance Notes), (iii) upon
the designation of any Pledged Deposits (as set forth in the definition
thereof), deliver to the Agent such Pledged Deposits which are evidenced by
certificates included in the Collateral endorsed in blank,

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marked with such legends and assigned as the Agent shall specify, and (iv) upon
the Agent's request, after the occurrence and during the continuance of a
Default, deliver to the Agent (and thereafter hold in trust for the Agent upon
receipt and immediately deliver to the Agent) any Document evidencing or
constituting Collateral. No Grantor shall permit any Person other than such
Grantor or the Agent to maintain possession of any Customer Advance Note.

     4.5.   UNCERTIFICATED SECURITIES AND CERTAIN OTHER INVESTMENT PROPERTY.
Each Grantor will permit the Agent (i) from time to time to cause each
Subsidiary of the Parent that is an issuer (and, if held with a securities
intermediary, such securities intermediary) of uncertificated securities or
other types of Investment Property not represented by certificates which are
Collateral owned by such Grantor, and (ii) after the occurrence and during the
continuance of a Default to cause the appropriate other issuers (and, if held
with a securities intermediary, such securities intermediary) of any other
uncertificated securities or other types of Investment Property not represented
by certificates which are Collateral owned by such Grantor, in each case, to
mark their books and records with the numbers and face amounts of all such
uncertificated securities or other types of Investment Property not represented
by certificates and all rollovers and replacements therefor to reflect the Lien
of the Agent granted pursuant to this Security Agreement. Each Grantor will use
all commercially reasonable efforts, (i) at all times with respect to each
Subsidiary of the Parent that is an issuer of Investment Property constituting
Collateral owned by such Grantor held with a financial intermediary, and (ii)
after the occurrence and during the continuance of a Default with respect to all
other Investment Property constituting Collateral owned by such Grantor held
with a financial intermediary, to cause such financial intermediary to enter
into a control agreement with the Agent in form and substance reasonably
satisfactory to the Agent.

     4.6.   STOCK AND OTHER OWNERSHIP INTERESTS.

            4.6.1   CHANGES IN CAPITAL STRUCTURE OF ISSUERS. No Grantor will (i)
     permit or suffer any issuer of Pledged Stock owned by such Grantor to
     dissolve, liquidate, retire any of its capital stock or other Instruments,
     Securities or other Investment Property evidencing ownership, reduce its
     capital or merge or consolidate with any other entity, or (ii) vote any of
     the Instruments, Securities or other Investment Property in favor of any of
     the foregoing, except to the extent permitted under the Credit Agreement.

            4.6.2   ISSUANCE OF ADDITIONAL SECURITIES. No Grantor will permit or
     suffer (i) any issuer of Pledged Stock that is a Guarantor to issue any
     such securities or other ownership interests, any right to receive the same
     or any right to receive earnings, except to such Grantor or (ii) any issuer
     of Pledged Stock that is not a Guarantor to issue any such securities or
     other ownership interests, any right to receive the same or any right to
     receive earnings unless such issuance is made or offered to each holder of
     such securities based on their proportionate holdings thereof.

            4.6.3   REGISTRATION OF PLEDGED SECURITIES AND OTHER INVESTMENT
     PROPERTY. Each Grantor will permit any registerable Collateral owned by
     such Grantor to be registered in the name of the Agent or its nominee at
     any time at the option of the Required Secured Parties following the
     occurrence and during the continuance of an Event of Default and without
     any further consent of such Grantor.

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            4.6.4   EXERCISE OF RIGHTS IN PLEDGED SECURITIES AND OTHER
     INVESTMENT PROPERTY. Each Grantor will permit the Agent or its nominee at
     any time during the continuance of a Default, without notice, to exercise
     or refrain from exercising any and all voting and other consensual rights
     pertaining to the Collateral owned by such Grantor or any part thereof, and
     to receive all dividends and interest in respect of such Collateral.

     4.7.   DEPOSIT ACCOUNTS. Each Grantor will upon the Agent's request during
the continuance of a Default, (i) cause each bank or other financial institution
in which it maintains (a) a Deposit Account to enter into a control agreement
with the Agent, in form and substance reasonably satisfactory to the Agent in
order to give the Agent Control of the Deposit Account or (b) other deposits
(general or special, time or demand, provisional or final) to be notified of the
security interest granted to the Agent hereunder and cause each such bank or
other financial institution to acknowledge such notification in writing and/or
(ii) deliver to each such bank or other financial institution a letter, in form
and substance acceptable to the Agent, transferring ownership of the Deposit
Account to the Agent or transferring dominion and control over each such other
deposit to the Agent until such time as no Default exists. In the case of
deposits maintained with Lenders, the terms of such letter shall be subject to
the provisions of the Credit Agreement regarding setoffs. The provisions of this
Section shall not apply to (x) a deposit account for which the Agent or any
other Lender is the depositary bank and is in automatic control thereof and (y)
any deposit accounts specially and exclusively used for payroll, payroll taxes
and other employee wage and benefit payments to or for the benefit of any
Grantor's salaried employees or any other trust accounts.

     4.8.   LETTER-OF-CREDIT RIGHTS. Each Grantor will, upon the Agent's
request, use commercially reasonable efforts to cause each issuer of a letter of
credit that constitutes Collateral (other than letters of credit that constitute
Supporting Obligations in respect of Collateral) having a face value in excess
of $5,000,000, to consent to the assignment of proceeds of the letter of credit
in order to give the Agent Control of the letter-of-credit rights to such letter
of credit.

     4.9.   INTELLECTUAL PROPERTY. If, after the Closing Date, any Grantor
obtains rights to any federally registered patent, trademark or copyright, or
applies for or seeks federal registration of any new patentable invention,
trademark or copyright, in addition to the patents, trademarks and copyrights
described in Part C of Exhibit "B", which are all of such Grantor's federally
registered patents, trademarks and copyrights as of the Closing Date, then such
Grantor shall, on an annual basis or, after the occurrence and during the
continuance of a Default, upon the request of the Agent, give the Agent notice
thereof. Each Grantor agrees promptly upon request by the Agent to execute and
deliver to the Agent any supplement to this Security Agreement or any other
document reasonably requested by the Agent to evidence such security interest in
a form appropriate for recording in the applicable federal office. Each Grantor
also hereby authorizes the Agent to modify this Security Agreement unilaterally
by amending Part C of Exhibit "B" to include any future patents, trademarks
and/or copyrights of which the Agent receives notification from such Grantor
pursuant hereto.

     4.10.  COMMERCIAL TORT CLAIMS. If, after the date hereof, any Grantor
identifies the existence of a commercial tort claim belonging to such Grantor in
respect of which such Grantor shall have filed a suit, and having, individually
or together with all other such commercial tort

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claims, in such Grantor's reasonable business judgment a value in excess of
$10,000,000, that has arisen in the course of such Grantor's business in
addition to the commercial tort claims described in Exhibit "E", which are all
of such Grantor's commercial tort claims as of the Closing Date, then such
Grantor shall give the Agent prompt notice thereof, but in any event not less
frequently than quarterly. Each Grantor agrees promptly upon request by the
Agent to execute and deliver to the Agent any supplement to this Security
Agreement or any other document reasonably requested by the Agent to evidence
the grant of a security interest therein in favor of the Agent.

                                    ARTICLE V

                                     DEFAULT

     5.1.   DEFAULT. The occurrence of any "Default" under, and as defined in,
the Credit Agreement shall constitute a Default hereunder.

     5.2.   ACCELERATION AND REMEDIES. Upon the acceleration of the Secured
Obligations under the Credit Agreement pursuant to Section 8.1 thereof, the
Obligations and, to the extent provided for under the Rate Management
Transactions evidencing the same, the Rate Management Obligations constituting
Secured Obligations, shall immediately become due and payable without
presentment, demand, protest or notice of any kind, all of which are hereby
expressly waived, and the Agent may, with the concurrence or at the direction of
the Required Secured Parties, exercise any or all of the following rights and
remedies:

            5.2.1   Those rights and remedies provided in this Security
     Agreement, the Credit Agreement, or any other Loan Document, PROVIDED that
     this Section 5.2.1 shall not be understood to limit any rights or remedies
     available to the Agent and the Holders of Secured Obligations prior to a
     Default.

            5.2.2   Those rights and remedies available to a secured party under
     the New York UCC or the PPSA, as applicable (whether or not the New York
     UCC or the PPSA applies to the affected Collateral) or under any other
     applicable law (including, without limitation, any law governing the
     exercise of a bank's right of setoff or bankers' lien) when a debtor is in
     default under a security agreement.

            5.2.3   Without notice except as specifically provided in
     Section 8.1 or elsewhere herein, sell, lease, assign, grant an option or
     options to purchase or otherwise dispose of the Collateral or any part
     thereof in one or more parcels at public or private sale, for cash, on
     credit or for future delivery, and upon such other terms as the Agent may
     deem commercially reasonable.

            5.2.4   Appoint by instrument in writing a receiver (which term as
     used in this Security Agreement includes a receiver and manager) or agent
     of all or any part of the Collateral and remove or replace from time to
     time any such receiver or agent.

            5.2.5   Institute proceedings in any court of competent jurisdiction
     for the appointment of a receiver of all or any part of the Collateral.

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            5.2.6   Borrow for the purposes of carrying on the business of the
     Grantor or for the maintenance, preservation or protection of the
     Collateral and grant a security interest in the Collateral, whether or not
     in priority to the security interest granted herein, to secure repayment.

The Agent, on behalf of the secured parties, may comply with any applicable
state, Canadian provincial or federal law requirements in connection with a
disposition of the Collateral, and such compliance will not be considered to
adversely affect the commercial reasonableness of any sale of the Collateral.

If, after the Credit Agreement has terminated by its terms and all of the
Obligations have been paid in full, there remain Rate Management Obligations
outstanding, the Required Secured Parties may exercise the remedies provided in
this Section 5.2 upon the occurrence of any event which would allow or require
the termination or acceleration of any Rate Management Obligations pursuant to
the terms of the agreement governing any Rate Management Transaction.

     5.3.   GRANTORS' OBLIGATIONS UPON DEFAULT. Upon the request of the Agent
during the continuance of a Default, each Grantor will:

            5.3.1   ASSEMBLY OF COLLATERAL. Assemble and make available to the
     Agent the Collateral and all records relating thereto at any place or
     places specified by the Agent which is reasonably convenient to both
     parties.

            5.3.2   SECURED PARTY ACCESS. Permit the Agent, to the extent such
     Grantor has the authority to do so, by the Agent's representatives and
     agents, to enter any premises where all or any part of the Collateral, or
     the books and records relating thereto, or both, are located, to take
     possession of all or any part of the Collateral and to remove all or any
     part of the Collateral.

     5.4.   LICENSE. The Agent is hereby granted a license or other right to
use, following the occurrence and during the continuance of a Default, without
charge, each Grantor's labels, patents, copyrights, rights of use of any name,
trade secrets, trade names, trademarks, service marks, customer lists and
advertising matter, or any property of a similar nature, as it pertains to the
Collateral, in completing production of, advertising for sale, and selling any
Collateral, and, following the occurrence and during the continuance of a
Default, such Grantor's rights under all licenses and all franchise agreements
shall inure to the Agent's benefit. In addition, each Grantor hereby irrevocably
agrees that the Agent may, following the occurrence and during the continuance
of a Default, sell any of such Grantor's Inventory directly to any person,
including without limitation persons who have previously purchased such
Grantor's Inventory from such Grantor and in connection with any such sale or
other enforcement of the Agent's rights under this Security Agreement, may sell
Inventory which bears any trademark owned by or licensed to such Grantor and any
Inventory that is covered by any copyright owned by or licensed to such Grantor
and the Agent may finish any work in process and affix any trademark owned by or
licensed to such Grantor and sell such Inventory as provided herein.

     5.5.   RECEIVER'S POWERS.

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     (a)    Any receiver appointed by the Agent shall be vested with the rights
and remedies which could have been exercised by the Agent in respect of each
Grantor or the Collateral and such other powers and discretions as are granted
in the instrument of appointment and any supplemental instruments. The identity
of the receiver, its replacement and its remuneration shall be within the sole
and unfettered discretion of the Agent or any other Holder of Secured
Obligations.

     (b)    Any receiver appointed by the Agent shall act as agent for the Agent
or any other Holder of Secured Obligations for the purposes of taking possession
of the Collateral, but otherwise and for all other purposes (except as provided
below), as agent for each Grantor. The receiver may sell, lease, or otherwise
dispose of Collateral as agent for each Grantor or as agent for the Agent as the
Agent may determine in its discretion. Each Grantor agrees to ratify and confirm
all actions of the receiver acting as agent for each Grantor, and to release and
indemnify the receiver in respect of all such actions.

     (c)    The Agent, in appointing or refraining from appointing any receiver,
shall not incur liability to the receiver, each Grantor or otherwise and shall
not be responsible for any misconduct or negligence of the receiver.

                                   ARTICLE VI

                        WAIVERS, AMENDMENTS AND REMEDIES

     Each of the Holders of Secured Obligations agrees that, except to the
extent provided in Section 5.2, this Security Agreement may be enforced only by
the actions of the Agent for the benefit of the Holders of Secured Obligations,
and that no other Holder of Secured Obligations shall have any right
individually to seek to enforce or to enforce this Security Agreement or to
realize upon the security to be granted hereby (other than the right of setoff
provided for in the Loan Documents). No delay or omission of the Agent to
exercise any right or remedy granted under this Security Agreement shall impair
such right or remedy or be construed to be a waiver of any Default or an
acquiescence therein, and any single or partial exercise of any such right or
remedy shall not preclude any other or further exercise thereof or the exercise
of any other right or remedy. No waiver, amendment or other variation of the
terms, conditions or provisions of this Security Agreement whatsoever shall be
valid unless in writing signed by the Agent with the concurrence or at the
direction of the Lenders required under Section 8.2 of the Credit Agreement and
each Grantor, and then only to the extent in such writing specifically set
forth, provided that the addition of any Domestic Subsidiary as a Grantor
hereunder by execution of a Security Agreement Supplement in the form of Annex I
(with such modifications as shall be acceptable to the Agent) shall not require
receipt of any consent from or execution of any documentation by any other
Grantor party hereto. All rights and remedies contained in this Security
Agreement or by law afforded shall be cumulative and all shall be available to
the Agent until the non-contingent Secured Obligations have been paid in full.

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<Page>

                                   ARTICLE VII

                       PROCEEDS; COLLECTION OF RECEIVABLES

     7.1.   LOCKBOXES. Upon request of the Agent after the occurrence and during
the continuance of a Default, each Grantor shall execute and deliver to the
Agent irrevocable lockbox agreements in the form provided by or otherwise
acceptable to the Agent, which agreements shall be accompanied by an
acknowledgment by the bank where the lockbox is located of the Lien of the Agent
granted hereunder and of irrevocable instructions to wire all amounts collected
therein to a special collateral account at the Agent.

     7.2.   COLLECTION OF RECEIVABLES. The Agent may at any time after the
occurrence of a Default, by giving each Grantor written notice, elect to require
that the Receivables be paid directly to the Agent for the benefit of the
Holders of Secured Obligations. In such event, each Grantor shall, and shall
permit the Agent to, promptly notify the account debtors or obligors under the
Receivables owned by such Grantor of the Agent's interest therein and direct
such account debtors or obligors to make payment of all amounts then or
thereafter due under such Receivables directly to the Agent. Upon receipt of any
such notice from the Agent, each Grantor shall thereafter hold in trust for the
Agent, on behalf of the Holders of Secured Obligations, all amounts and proceeds
received by it with respect to the Receivables and Other Collateral and
immediately and at all times thereafter deliver to the Agent all such amounts
and proceeds in the same form as so received, whether by cash, check, draft or
otherwise, with any necessary endorsements. The Agent shall hold and apply funds
so received as provided by the terms of Sections 7.3 and 7.4.

     7.3.   SPECIAL COLLATERAL ACCOUNT. The Agent may require all cash proceeds
of the Collateral to be deposited in a special non-interest bearing cash
collateral account with the Agent and held there as security for the Secured
Obligations. No Grantor shall have any control whatsoever over said cash
collateral account. If no Default is continuing, the Agent shall from time to
time deposit the collected balances in said cash collateral account into the
applicable Grantor's general operating account with the Agent. If any Default
has occurred and is continuing, the Agent may (and shall, at the direction of
the Required Lenders), from time to time, apply the collected balances in said
cash collateral account to the payment of the Secured Obligations whether or not
the Secured Obligations shall then be due.

     7.4.   APPLICATION OF PROCEEDS. The proceeds of the Collateral shall be
applied by the Agent to payment of the Secured Obligations in the following
order unless a court of competent jurisdiction shall otherwise direct:

            (a)     FIRST, to payment of all costs and expenses of the Agent
     incurred in connection with the collection and enforcement of the Secured
     Obligations or of the security interest granted to the Agent pursuant to
     this Security Agreement;

            (b)     SECOND, to payment of that portion of the Secured
     Obligations constituting accrued and unpaid interest and fees, pro rata
     among the Lenders and their Affiliates in accordance with the amount of
     such accrued and unpaid interest and fees owing to each of them;

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            (c)     THIRD, to payment of the principal of the Secured
     Obligations and the net early termination payments and any other Rate
     Management Obligations then due and unpaid from the Borrower to any of the
     Lenders or their Affiliates, pro rata among the Lenders and their
     Affiliates in accordance with the amount of such principal and such net
     early termination payments and other Rate Management Obligations then due
     and unpaid owing to each of them;

            (d)     FOURTH, to payment of any Secured Obligations (other than
     those listed above) pro rata among those parties to whom such Secured
     Obligations are due in accordance with the amounts owing to each of them;
     and

            (e)     FIFTH, the balance, if any, after all of the Secured
     Obligations have been satisfied, shall be distributed by the Agent to the
     applicable Grantor or at its direction.

                                  ARTICLE VIII

                               GENERAL PROVISIONS

     8.1.   NOTICE OF DISPOSITION OF COLLATERAL; CONDITION OF COLLATERAL. Each
Grantor hereby waives notice of the time and place of any public sale or the
time after which any private sale or other disposition of all or any part of the
Collateral may be made. To the extent such notice may not be waived under
applicable law, any notice made shall be deemed reasonable if sent to the
Borrower, addressed as set forth in Article IX, at least ten days prior to (i)
the date of any such public sale or (ii) the time after which any such private
sale or other disposition may be made. Agent shall have no obligation to
clean-up or otherwise prepare the Collateral for sale.

     8.2.   COMPROMISES AND COLLECTION OF COLLATERAL. Each Grantor and the Agent
recognize that setoffs, counterclaims, defenses and other claims may be asserted
by obligors with respect to certain of the Receivables, that certain of the
Receivables may be or become uncollectible in whole or in part and that the
expense and probability of success in litigating a disputed Receivable may
exceed the amount that reasonably may be expected to be recovered with respect
to a Receivable. In view of the foregoing, each Grantor agrees that the Agent
may at any time and from time to time, if a Default has occurred and is
continuing, compromise with the obligor on any Receivable, accept in full
payment of any Receivable such amount as the Agent in its sole discretion shall
determine or abandon any Receivable, and any such action by the Agent shall be
commercially reasonable so long as the Agent acts in good faith based on
information known to it at the time it takes any such action.

     8.3.   SECURED PARTY PERFORMANCE OF GRANTOR'S OBLIGATIONS. Without having
any obligation to do so, the Agent may perform or pay any obligation which any
Grantor has agreed to perform or pay in this Security Agreement and such Grantor
shall reimburse the Agent for any reasonable amounts paid by the Agent pursuant
to this Section 8.3. Each Grantor's obligation to reimburse the Agent pursuant
to the preceding sentence shall be a Secured Obligation payable on demand.

     8.4.   AUTHORIZATION FOR SECURED PARTY TO TAKE CERTAIN ACTION. Each Grantor
irrevocably authorizes the Agent at any time and from time to time in the sole
discretion of the

                                       17
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Agent and appoints the Agent as its attorney in fact (i) to execute on behalf of
such Grantor as debtor and to file financing statements necessary or desirable
in the Agent's sole discretion to perfect and to maintain the perfection and
priority of the Agent's security interest in the Collateral, (ii) to indorse and
collect any cash proceeds of the Collateral, (iii) to file a carbon,
photographic or other reproduction of this Security Agreement or any financing
statement with respect to the Collateral as a financing statement and to file
any other financing statement or amendment of a financing statement (which does
not add new collateral or add a debtor) in such offices as the Agent in its sole
discretion deems necessary or desirable to perfect and to maintain the
perfection and priority of the Agent's security interest in the Collateral, (iv)
to contact and enter into one or more agreements with the issuers of
uncertificated securities which are Collateral owned by such Grantor and which
are Securities or with financial intermediaries holding other Investment
Property as may be necessary or advisable to give the Agent Control over such
Securities or other Investment Property, (v) to enforce payment of the
Instruments, Accounts and Receivables in the name of the Agent or such Grantor,
(vi) to apply the proceeds of any Collateral received by the Agent to the
Secured Obligations as provided in Article VII and (vii) to discharge past due
taxes, assessments, charges, fees or Liens on the Collateral (except for such
Liens as are specifically permitted hereunder or under any other Loan Document),
and each Grantor agrees to reimburse the Agent on demand for any reasonable
payment made or any reasonable expense incurred by the Agent in connection
therewith, provided that this authorization shall not relieve any Grantor of any
of its obligations under this Security Agreement or under the Credit Agreement.
Notwithstanding the foregoing, such powers of attorney granted with respect to
clause (ii) and clauses (iv) through (vii) above shall be exercisable by the
Agent only after the occurrence and during the continuance of a Default.

     8.5.   SPECIFIC PERFORMANCE OF CERTAIN COVENANTS. Each Grantor acknowledges
and agrees that a breach of any of the covenants contained in Sections 4.4, 5.3,
or 8.7 or in Article VII will cause irreparable injury to the Agent and the
Holders of Secured Obligations, that the Agent and Holders of Secured
Obligations have no adequate remedy at law in respect of such breaches and
therefore agrees, without limiting the right of the Agent or the Holders of
Secured Obligations to seek and obtain specific performance of other obligations
of the Grantors contained in this Security Agreement, that the covenants of the
Grantors contained in the Sections referred to in this Section 8.5 shall be
specifically enforceable against the Grantors.

     8.6.   USE AND POSSESSION OF CERTAIN PREMISES. Upon the occurrence and
during the continuance of a Default, the Agent shall be entitled to occupy and
use any premises owned or leased by the Grantors where any of the Collateral or
any records relating to the Collateral are located until the non-contingent
Secured Obligations are paid or the Collateral is removed therefrom, whichever
first occurs, without any obligation to pay any Grantor for such use and
occupancy.

     8.7.   DISPOSITIONS NOT AUTHORIZED. No Grantor is authorized to sell or
otherwise dispose of the Collateral except as set forth in the Credit Agreement
and notwithstanding any course of dealing between any Grantor and the Agent or
other conduct of the Agent, no authorization to sell or otherwise dispose of the
Collateral (except as set forth in the Credit Agreement) shall be binding upon
the Agent or the Holders of Secured Obligations unless such authorization is in
writing signed by the Agent with the consent or at the direction of the Required
Lenders.

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     8.8.   BENEFIT OF AGREEMENT. The terms and provisions of this Security
Agreement shall be binding upon and inure to the benefit of the Grantors, the
Agent and the Holders of Secured Obligations and their respective successors and
permitted assigns (including all persons who become bound as a debtor to this
Security Agreement), except that the Grantors shall not have the right to assign
their rights or delegate their obligations under this Security Agreement or any
interest herein (other than pursuant to a transaction permitted by the Credit
Agreement), without the prior written consent of the Agent.

     8.9.   SURVIVAL OF REPRESENTATIONS. All representations and warranties of
the Grantors contained in this Security Agreement shall survive the execution
and delivery of this Security Agreement.

     8.10.  TAXES AND EXPENSES. The Grantors shall reimburse the Agent for any
and all reasonable out-of-pocket expenses, costs and charges (including but not
limited to reasonable outside attorneys', auditors' and accountants' fees and
receiver's or agent's remuneration) paid or incurred by the Agent in connection
with the preparation, execution, delivery, administration, collection and
enforcement of this Security Agreement and in the audit, analysis,
administration, collection, preservation or sale of the Collateral (including,
to the extent permitted by Section 6.9 of the Credit Agreement, the expenses and
charges associated with any periodic or special audit of the Collateral). Any
and all costs and expenses incurred by the Grantors in the performance of
actions required pursuant to the terms hereof shall be borne solely by the
Grantors.

     8.11.  CONSENT. Each Grantor hereby consents to the holding of any Pledged
Stock by the Agent for and on behalf of each and every one of the Holders of
Secured Obligations. The Agent hereby acknowledges having received, as of the
date hereof, evidence in writing of the security by the Grantor on the Pledged
Stock and the share certificates in respect thereof.

     8.12.  CURRENCY. All references in this Security Agreement to dollars,
unless otherwise specifically indicated, are expressed in currency of the United
States of America.

     8.13.  HEADINGS. The title of and section headings in this Security
Agreement are for convenience of reference only, and shall not govern the
interpretation of any of the terms and provisions of this Security Agreement.

     8.14.  TERMINATION. This Security Agreement shall continue in effect
(notwithstanding the fact that from time to time there may be no Secured
Obligations outstanding) until the Secured Obligations (other than contingent
indemnity obligations) have been Paid in Full. Notwithstanding the foregoing,
the security interests granted hereunder (and any Grantor's obligations
hereunder) shall be released in accordance with the provisions of Section 10.15
of the Credit Agreement.

     8.15.  ENTIRE AGREEMENT. This Security Agreement embodies the entire
agreement and understanding between the Grantors and the Agent relating to the
Collateral and supersedes all prior agreements and understandings between the
Grantors and the Agent relating to the Collateral.

     8.16.  CHOICE OF LAW. THIS SECURITY AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE INTERNAL

                                       19
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LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE GENERAL
OBLIGATIONS LAWS OF THE STATE OF NEW YORK, BUT OTHERWISE WITHOUT REGARD TO
CONFLICTS OF LAW PRINCIPLES) BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO
NATIONAL BANKS.

     8.17.  INDEMNITY. Each Grantor hereby agrees, jointly with the other
Grantors and severally, to indemnify the Agent and the Holders of Secured
Obligations, and their respective successors, permitted assigns, agents and
employees, from and against any and all liabilities, damages, penalties, suits,
costs, and expenses of any kind and nature (including, without limitation, all
expenses of litigation or preparation therefor whether or not the Agent or any
Holder of Secured Obligations is a party thereto) imposed on, incurred by or
asserted against the Agent or the Holders of Secured Obligations, or their
respective successors, assigns, agents and employees, in any way relating to or
arising out of this Security Agreement, or the manufacture, purchase,
acceptance, rejection, ownership, delivery, lease, possession, use, operation,
condition, sale, return or other disposition of any Collateral (including,
without limitation, latent and other defects, whether or not discoverable by the
Agent or the Holders of Secured Obligations or any Grantor, and any claim for
patent, trademark or copyright infringement), except to the extent the same are
caused by the gross negligence or willful misconduct of such Person or solely by
reason of the Agent's breach of the express terms of this Agreement.

     8.18.  SUBORDINATION OF INTERCOMPANY INDEBTEDNESS. Each Grantor agrees that
any and all claims of such Grantor against any other Grantor (each an "Obligor")
with respect to any "Intercompany Indebtedness" (as hereinafter defined), any
endorser, obligor or any other guarantor of all or any part of the Secured
Obligations, or against any of its properties shall be subordinate and subject
in right of payment to the prior Payment in Full of all Secured Obligations
(other than contingent indemnity obligations). Notwithstanding any right of any
Grantor to ask, demand, sue for, take or receive any payment from any Obligor,
all rights, liens and security interests of such Grantor, whether now or
hereafter arising and howsoever existing, in any assets of any other Obligor
shall be and are subordinated to the rights of the Holders of Secured
Obligations and the Agent in those assets. No Grantor shall have any right to
possession of any such asset or to foreclose upon any such asset, whether by
judicial action or otherwise, unless and until all of the Secured Obligations
(other than contingent indemnity obligations) shall have been Paid in Full. If
all or any part of the assets of any Obligor, or the proceeds thereof, are
subject to any distribution, division or application to the creditors of such
Obligor, whether partial or complete, voluntary or involuntary, and whether by
reason of liquidation, bankruptcy, arrangement, receivership, assignment for the
benefit of creditors or any other action or proceeding, or if the business of
any such Obligor is dissolved or if substantially all of the assets of any such
Obligor are sold, then, and in any such event (such events (other than any such
events permitted by the Credit Agreement) being herein referred to as an
"Insolvency Event"), any payment or distribution of any kind or character,
either in cash, securities or other property, which shall be payable or
deliverable upon or with respect to any indebtedness of any Obligor to any
Grantor ("Intercompany Indebtedness") shall be paid or delivered directly to the
Agent for application on any of the Secured Obligations, due or to become due,
until such Secured Obligations (other than contingent indemnity obligations)
shall have first been Paid in Full. Should any payment, distribution, security
or instrument or proceeds thereof be received by the applicable Grantor upon or
with respect to the Intercompany Indebtedness after any Insolvency Event and
prior to the satisfaction of all of the Secured Obligations (other than
contingent

                                       20
<Page>

indemnity obligations) and the termination or expiration of all Commitments of
the Lenders and Facility LCs issued pursuant to the Credit Agreement, such
Grantor shall receive and hold the same in trust, as trustee, for the benefit of
the Holders of Secured Obligations and shall forthwith deliver the same to the
Agent, for the benefit of the Holders of Secured Obligations, in precisely the
form received (except for the endorsement or assignment of the Grantor where
necessary), for application to any of the Secured Obligations, due or not due,
and, until so delivered, the same shall be held in trust by the Grantor as the
property of the Holders of Secured Obligations. If any such Grantor fails to
make any such endorsement or assignment to the Agent, the Agent or any of its
officers or employees is irrevocably authorized to make the same. Each Grantor
agrees that until the Secured Obligations (other than the contingent indemnity
obligations) have been Paid in Full, no Grantor will assign or transfer to any
Person (other than the Agent or the Borrower or another Grantor) any claim any
such Grantor has or may have against any Obligor.

                                   ARTICLE IX

                                     NOTICES

     9.1.   SENDING NOTICES. Any notice required or permitted to be given under
this Security Agreement shall be sent (and deemed received) in the manner and to
the addresses set forth in Article XIII of the Credit Agreement; and any such
notice delivered to the Borrower shall be deemed to have been delivered to all
of the Grantors.

     9.2.   CHANGE IN ADDRESS FOR NOTICES. Each of the Grantors, the Agent and
the Lenders may change the address for service of notice upon it by a notice in
writing to the other parties.

                                    ARTICLE X

                                    THE AGENT

     Bank One, NA has been appointed Agent for the Holders of Secured
Obligations hereunder pursuant to Article X of the Credit Agreement. It is
expressly understood and agreed by the parties to this Security Agreement that
any authority conferred upon the Agent hereunder is subject to the terms of the
delegation of authority made by the Holders of Secured Obligations to the Agent
pursuant to the Credit Agreement, and that the Agent has agreed to act (and any
successor Agent shall act) as such hereunder only on the express conditions
contained in such Article X. Any successor Agent appointed pursuant to Article X
of the Credit Agreement shall be entitled to all the rights, interests and
benefits of the Agent hereunder.

                                   ARTICLE XI

                                    EXHIBITS

            The Grantors may from time to time update the Exhibits to this
Security Agreement in writing such that any representations and warranties made
hereunder as of a particular Reference Date shall be made in reference to the
Exhibits to this Security Agreement as in effect on such Reference Date.
Notwithstanding the foregoing, to the extent any action or

                                       21
<Page>

inaction resulting in a change to the information contained in any Exhibit to
this Security Agreement independently required compliance with any other
provision of the Security Agreement (or the Credit Agreement), then the updating
of the relevant Exhibit shall not relieve, waive or excuse the independent
Default arising under the Credit Agreement from such Grantor's non-compliance
with any such provision pertaining to the underlying action or inaction.

                                       22
<Page>

     IN WITNESS WHEREOF, each of the Grantors and the Agent have executed this
Security Agreement as of the date first above written.

UNITED STATIONERS INC.                       AZERTY INCORPORATED

By:                                          By:
    ---------------------------------            -------------------------------
Name: Brian S. Cooper                        Name: Brian S. Cooper
Title: Senior Vice President and Treasurer   Title: Vice President and Treasurer

LAGASSE, INC.                                UNITED STATIONERS TECHNOLOGY
                                             SERVICES LLC

By:                                          By:
    ---------------------------------            -------------------------------
Name: Brian S. Cooper                        Name: Brian S. Cooper
Title: Vice President and Treasurer          Title: Vice President and Treasurer

UNITED STATIONERS FINANCIAL SERVICES LLC     UNITED STATIONERS SUPPLY CO.

By:                                          By:
    ---------------------------------            -------------------------------
Name: Brian S. Cooper                        Name: Brian S. Cooper
Title: Vice President and Treasurer          Title: Senior Vice President,
                                                    Treasurer and Assistant
                                                    Secretary

BANK ONE, NA (MAIN OFFICE
CHICAGO), as Agent

By:
    ---------------------------------
Name: Molly Morawski
Title: Director, Capital Markets

                 SIGNATURE PAGE TO PLEDGE AND SECURITY AGREEMENT

<Page>

STATE OF ILLINOIS     )
                      ) SS
COUNTY OF COOK        )

The foregoing instrument was acknowledged before me this 21st day of March,
2003.

                                          --------------------------------------
                                            Donald M. Salazar

                                            Notary Public

                                          My commission expires: 1-25-205

                                        1
<Page>

                                   EXHIBIT "A"
     (See Sections 3.3, 3.4, 3.5, 3.6, 3.11 and 4.1.4 of Security Agreement)

Place of Business (if it has only one) or Chief Executive Office (if more than
one place of business) and Mailing Address, other names, Federal employer
identification number, where applicable, and, if such Grantor is a registered
organization, the State organization number:

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

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

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

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

     Attention:
               ----------------

     FEIN:
     Organization Number:
     Other Names:
Locations of Inventory and Equipment and Fixtures:

A.   PROPERTIES OWNED BY THE GRANTORS:

B.   PROPERTIES LEASED BY THE GRANTORS:

C.   PUBLIC WAREHOUSES OR OTHER LOCATIONS PURSUANT TO BAILMENT OR CONSIGNMENT
     ARRANGEMENTS:

                                        2
<Page>

                                   EXHIBIT "B"
                     (See Section 3.9 of Security Agreement)

                  A. Vehicles subject to certificates of title:

<Table>
<Caption>
     Description                       Title Number & State Where Issued
     -----------                       ---------------------------------
     <S>                               <C>

</Table>

   B. Aircraft/engines, ships, railcars and other vehicles governed by federal
                                    statute:

<Table>
<Caption>
     Description                       Registration Number
     -----------                       -------------------
     <S>                               <C>

</Table>

        C. Patents, copyrights, trademarks protected under federal law*:

----------
* For (i) trademarks, show the trademark itself, the registration date and the
registration number; (ii) trademark applications, show the trademark applied
for, the application filing date and the serial number of the application; (iii)
patents, show the patent number, issue date and a brief description of the
subject matter of the patent; and (iv) patent applications, show the serial
number of the application, the application filing date and a brief description
of the subject matter of the patent applied for. Any licensing agreements for
patents or trademarks should be described on a separate schedule.

                                        3
<Page>

                                   EXHIBIT "C"

                           List of Pledged Securities
                    (See Section 3.13 of Security Agreement)

                                   A. STOCKS:

<Table>
<Caption>
Issuer        Certificate Number          Number of Shares
------        ------------------          ----------------
<S>           <C>                         <C>

</Table>

                                    B. BONDS:

<Table>
<Caption>
Issuer     Number       Face Amount       Coupon Rate        Maturity
------     ------       -----------       -----------        --------
<S>        <C>          <C>               <C>                <C>

</Table>

                            C. GOVERNMENT SECURITIES:

<Table>
<Caption>
Issuer      Number      Type        Face Amount      Coupon Rate     Maturity
------      ------      ----        -----------      -----------     --------
<S>         <C>         <C>         <C>              <C>             <C>

</Table>

                D. OTHER SECURITIES OR OTHER INVESTMENT PROPERTY
                       (CERTIFICATED AND UNCERTIFICATED):

<Table>
<Caption>
Issuer         Description of Collateral           Percentage Ownership Interest
------         -------------------------           -----------------------------
<S>            <C>                                 <C>

</Table>

                                        4
<Page>

                                   EXHIBIT "D"
                     (See Section 3.1 of Security Agreement)

              OFFICES IN WHICH FINANCING STATEMENTS HAVE BEEN FILED

                                        5
<Page>

                                   EXHIBIT "E"

                  (See Definition of "Commercial Tort Claims")

                             COMMERCIAL TORT CLAIMS

        [Describe parties, case number(if applicable), nature of dispute]

                                        6
<Page>

                                     ANNEX I

                                       to

                                   SUBSIDIARY

                               SECURITY AGREEMENT

          Reference is hereby made to the Subsidiary Security Agreement (the
"Agreement"), dated as of March 21, 2003, made by each of United Stationers
Supply Co., an Illinois Corporation (the "Borrower"), United Stationers Inc., a
Delaware corporation (the "Parent"), and the other Subsidiaries of the Parent
listed on the signature pages thereto (together with the Borrower and the
Parent, collectively, the "Grantors") (each an "Initial Grantor", and together
with any additional Domestic Subsidiaries, including the undersigned, which
become parties thereto by executing a Supplement in substantially the form
hereof, the "Grantors"), in favor of the Agent. Capitalized terms used herein
and not defined herein shall have the meanings given to them in the Agreement.
By its execution below, the undersigned, [NAME OF NEW GRANTOR], a
[__________________________] [corporation/limited liability company] agrees to
become, and does hereby become, a Grantor under the Agreement and agrees to be
bound by such Agreement as if originally a party thereto. By its execution
below, the undersigned represents and warrants as to itself that all of the
representations and warranties contained in the Agreement are true and correct
in all respects as of the date hereof. [NAME OF NEW GRANTOR] represents and
warrants that the supplements to the Exhibits to the Agreement attached hereto
are true and correct in all respects and such supplements set forth all
information required to be scheduled under the Agreement. [NAME OF NEW GRANTOR]
shall take all steps necessary to perfect, in favor of the Agent, a
first-priority security interest in and lien against [NAME OF NEW GRANTOR]'s
Collateral, including, without limitation, delivering all certificated
Securities to the Agent, and taking all steps necessary to properly perfect the
Agent's interest in any uncertificated equity or membership interests.

          IN WITNESS WHEREOF, [NAME OF NEW GRANTOR], a [__________________]
[corporation/limited liability company] has executed and delivered this Annex I
counterpart to the Agreement as of this ___________ day of ____________, ____.

                                    [NAME OF NEW GRANTOR]

                                    By:
                                       ----------------------------
                                    Title:
                                          -------------------------

                                        7<Page>

                                                                    EXHIBIT 4.10

                                                                  EXECUTION COPY

                                    GUARANTY

     THIS GUARANTY (as the same may be amended, restated, supplemented or
otherwise modified from time to time, this "GUARANTY") is made as of March 21,
2003, by each of United Stationers Inc., a Delaware corporation (the "Parent"),
Azerty Incorporated, a Delaware corporation, Lagasse, Inc., a Louisiana
corporation, United Stationers Financial Services LLC, an Illinois limited
liability company and United Stationers Technology Services LLC, an Illinois
limited liability company (each an "INITIAL GUARANTOR", and together with any
additional Domestic Subsidiaries which become parties to this Guaranty by
executing a Supplement hereto in the form attached hereto as ANNEX I, the
"GUARANTORS"), in favor of Bank One, NA (Main Office Chicago), as Administrative
Agent (the "AGENT") for the benefit of the Holders of Secured Obligations under
the below-described Credit Agreement. Each capitalized term used herein and not
defined herein shall have the meaning ascribed thereto in the Credit Agreement.

                                   WITNESSETH:

     WHEREAS, United Stationers Supply Co., an Illinois corporation (the
"BORROWER"), has entered into that certain Five-Year Revolving Credit Agreement,
dated as of March 21, 2003 (as the same may be amended, restated, supplemented
or otherwise modified from time to time, the "CREDIT AGREEMENT"), by and among
the Borrower, the Parent, the financial institutions from time to time parties
thereto as lenders (the "LENDERS"), and the Agent, which Credit Agreement
provides, subject to the terms and conditions thereof, for extensions of credit
and other financial accommodations by the Lenders to the Borrower;

     WHEREAS, it is a condition precedent to the extensions of credit by the
Lenders under the Credit Agreement that each of the Guarantors (constituting all
of the Domestic Subsidiaries of the Borrower required to execute this Guaranty
pursuant to SECTION 6.25 of the Credit Agreement) execute and deliver this
Guaranty, whereby each of the Guarantors, without limitation and with full
recourse, shall guarantee the payment when due of all Secured Obligations,
including, without limitation, all principal, interest, letter of credit
reimbursement obligations and other amounts that shall be at any time payable by
the Borrower under the Credit Agreement or the other Loan Documents; and

     WHEREAS, in consideration of the direct and indirect financial and other
support that the Borrower has provided, and such direct and indirect financial
and other support as the Borrower may in the future provide, to the Guarantors,
and in order to induce the Lenders and the Agent to enter into the Credit
Agreement, each of the Guarantors is willing to guarantee the Secured
Obligations under the Credit Agreement and the other Loan Documents;

     NOW, THEREFORE, in consideration of the foregoing premises and other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

                                       -1-
<Page>

     SECTION 1.  REPRESENTATIONS, WARRANTIES AND COVENANTS. In order to induce
the Agent and the Lenders to enter into the Credit Agreement and to make the
Loans and the other financial accommodations to the Borrower and to issue the
Facility LCs described in the Credit Agreement, each of the Guarantors
represents and warrants to each Lender and the Agent as of the date of this
Agreement, giving effect to the consummation of the transactions contemplated by
the Loan Documents on the Closing Date, and thereafter on each date as required
by Section 4.2 of the Credit Agreement that:

     (a)  It (i) is a corporation, partnership or limited liability company duly
incorporated or organized, as the case may be, validly existing and (to the
extent such concept applies to such entity) in good standing under the laws of
its jurisdiction of incorporation or organization, (ii) has all requisite
corporate, partnership or limited liability company power and authority, as the
case may be, to own, operate and encumber its Property and (iii) is qualified to
do business and is in good standing (to the extent such concept applies to such
entity) in all jurisdictions where the nature of the business conducted by it
makes such qualification necessary and where failure to so qualify would
reasonably be expected to have a Material Adverse Effect.

     (b)  It has the requisite corporate, limited liability company or
partnership, as applicable, power and authority and legal right to execute and
deliver this Guaranty and to perform its obligations hereunder. The execution
and delivery by it of this Guaranty and the performance by each of its
obligations hereunder have been duly authorized by corporate, limited liability
company or partnership, as applicable, proceedings, and this Guaranty
constitutes a legal, valid and binding obligation of each Guarantor, enforceable
against such Guarantor, in accordance with its terms, except as enforceability
may be limited by (i) bankruptcy, insolvency, fraudulent conveyances,
reorganization or similar laws relating to or affecting the enforcement of
creditors' rights generally, (ii) general equitable principles (whether
considered in a proceeding in equity or at law), and (iii) requirements of
reasonableness, good faith and fair dealing.

     (c)  Neither the execution and delivery by it of this Guaranty, nor the
consummation by it of the transactions herein contemplated, nor compliance by it
with the terms and provisions hereof, will (i) conflict with the charter or
other organizational documents of such Guarantor, (ii) conflict with, result in
a breach of or constitute (with or without notice or lapse of time or both) a
default under any applicable law, rule, regulation, order, writ, judgment,
injunction, decree or award binding on such Guarantor or any provisions of any
indenture, material instrument or material agreement to which such Guarantor is
party or is subject or which it or its Property is bound or affected, or (iii)
result in or require the creation or imposition of any Lien whatsoever upon any
of the property or assets of such Guarantor, other than Liens permitted or
created by the Loan Documents. Except as set forth in Section 5.3 of the Credit
Agreement, the execution, delivery and performance by the Guarantors of each of
the Loan Documents to which such Guarantor is a party do not require any
registration with, consent or approval of, or notice to, or other action to,
with or by any governmental authority, including under any environmental
property transfer laws or regulations, except for those the failure to make or
obtain would not reasonably be expected to have a Material Adverse Effect.

<Page>

     (d)  It has no Indebtedness other than Indebtedness permitted under
Section 6.14 of the Credit Agreement.

     In addition to the foregoing, each of the Guarantors covenants that until
the non-contingent Secured Obligations have been Paid in Full (as defined
below), it will, and, if necessary, will enable the Borrower to, fully comply
with those covenants and agreements of the Borrower applicable to such Guarantor
set forth in the Credit Agreement.

     SECTION 2.  THE GUARANTY. Each of the Guarantors hereby unconditionally
guarantees, jointly and severally with the other Guarantors, the full and
punctual payment and performance when due (whether at stated maturity, upon
acceleration or otherwise) of the Secured Obligations, including, without
limitation, (i) the principal of and interest on each Advance made to the
Borrower pursuant to the Credit Agreement, (ii) any Reimbursement Obligations of
the Borrower or the performance by it of such Reimbursement Obligations, (iii)
all other amounts payable by the Borrower under the Credit Agreement and the
other Loan Documents, including, without limitation, all Rate Management
Obligations constituting Secured Obligations, and (iv) the punctual and faithful
performance, keeping, observance, and fulfillment by the Borrower of all of the
agreements, conditions, covenants, and obligations of the Borrower contained in
the Loan Documents (all of the foregoing being referred to collectively as the
"GUARANTEED OBLIGATIONS"). Upon (x) the failure by the Borrower, or any of its
Affiliates, as applicable, to pay punctually any such amount or perform such
obligation, and (y) such failure continuing beyond any applicable grace or
notice and cure period, each of the Guarantors agrees that it shall forthwith on
demand pay such amount or perform such obligation at the place and in the manner
specified in the Credit Agreement or the relevant Loan Document, as the case may
be. Each of the Guarantors hereby agrees that this Guaranty is an absolute,
irrevocable and unconditional guaranty of payment and is not a guaranty of
collection.

     SECTION 3.  GUARANTY UNCONDITIONAL. The obligations of each of the
Guarantors hereunder shall be unconditional and absolute and, without limiting
the generality of the foregoing, shall not be released, discharged or otherwise
affected by:

          (i)    any extension, renewal, settlement, indulgence, compromise,
     waiver or release of or with respect to the Guaranteed Obligations or any
     part thereof or any agreement relating thereto, or with respect to any
     obligation of any other guarantor of any of the Guaranteed Obligations,
     whether (in any such case) by operation of law or otherwise, or any failure
     or omission to enforce any right, power or remedy with respect to the
     Guaranteed Obligations or any part thereof or any agreement relating
     thereto, or with respect to any obligation of any other guarantor of any of
     the Guaranteed Obligations;

          (ii)   any modification or amendment of or supplement to the Credit
     Agreement, any agreement evidencing Rate Management Obligations or any
     other Loan Document, including, without limitation, any such amendment
     which may increase the amount of, or the interest rates applicable to, any
     of the Guaranteed Obligations guaranteed hereby;

<Page>

          (iii)  any release, surrender, compromise, settlement, waiver,
     subordination or modification, with or without consideration, of any
     collateral securing the Guaranteed Obligations or any part thereof, any
     other guaranties with respect to the Guaranteed Obligations or any part
     thereof, or any other obligation of any person or entity with respect to
     the Guaranteed Obligations or any part thereof, or any nonperfection or
     invalidity of any direct or indirect security for the Guaranteed
     Obligations;

          (iv)   any change in the corporate, partnership or other existence,
     structure or ownership of the Borrower or any other guarantor of any of the
     Guaranteed Obligations, or any insolvency, bankruptcy, reorganization or
     other similar proceeding affecting the Borrower or any other guarantor of
     the Guaranteed Obligations, or any of their respective assets or any
     resulting release or discharge of any obligation of the Borrower or any
     other guarantor of any of the Guaranteed Obligations;

          (v)    the existence of any claim, setoff or other rights which the
     Guarantors may have at any time against the Borrower, any other guarantor
     of any of the Guaranteed Obligations, the Agent, any Holder of Secured
     Obligations or any other Person, whether in connection herewith or in
     connection with any unrelated transactions, PROVIDED that nothing herein
     shall prevent the assertion of any such claim by separate suit or
     compulsory counterclaim;

          (vi)   the enforceability or validity of the Guaranteed Obligations or
     any part thereof or the genuineness, enforceability or validity of any
     agreement relating thereto or with respect to any collateral securing the
     Guaranteed Obligations or any part thereof, or any other invalidity or
     unenforceability relating to or against the Borrower or any other guarantor
     of any of the Guaranteed Obligations, for any reason related to the Credit
     Agreement, any agreement evidencing a Rate Management Transaction or any
     other Loan Document, or any provision of applicable law or regulation
     purporting to prohibit the payment by the Borrower or any other guarantor
     of the Guaranteed Obligations, of any of the Guaranteed Obligations;

          (vii)  the failure of the Agent to take any steps to perfect and
     maintain any security interest in, or to preserve any rights to, any
     security or collateral for the Guaranteed Obligations, if any;

          (viii) the election by, or on behalf of, any one or more of the
     Holders of Secured Obligations, in any proceeding instituted under
     Chapter 11 of Title 11 of the United States Code (11 U.S.C. 101 et seq.)
     (the "BANKRUPTCY CODE"), of the application of Section 1111(b)(2) of the
     Bankruptcy Code;

          (ix)   any borrowing or grant of a security interest by the Borrower,
     as debtor-in-possession, under Section 364 of the Bankruptcy Code;

          (x)    the disallowance, under Section 502 of the Bankruptcy Code, of
     all or any portion of the claims of the Holders of Secured Obligations or
     the Agent for repayment of all or any part of the Guaranteed Obligations;

<Page>

          (xi)   the failure of any other guarantor to sign or become party to
     this Guaranty or any amendment, change, or reaffirmation hereof; or

          (xii)  any other act or omission to act or delay of any kind by the
     Borrower, any other guarantor of the Guaranteed Obligations, the Agent, any
     Holder of Secured Obligations or any other Person or any other circumstance
     whatsoever which might, but for the provisions of this SECTION 3,
     constitute a legal or equitable discharge of any Guarantor's obligations
     hereunder (other than Payment in Full).

     SECTION 4.  DISCHARGE ONLY UPON PAYMENT IN FULL; REINSTATEMENT IN CERTAIN
CIRCUMSTANCES. Each of the Guarantors' obligations hereunder shall remain in
full force and effect until all non-contingent Guaranteed Obligations shall have
been paid in full in cash and the Commitments and all Facility LCs issued under
the Credit Agreement shall have terminated or expired or, in the case of all
Facility LCs, are fully collateralized on the terms set forth in the Credit
Agreement (collectively, "Payment in Full" (and the term "Paid in Full" shall
have a correlative meaning)). If at any time any payment of the principal of or
interest on any Advance or Reimbursement Obligation or any other amount payable
by the Borrower or any other party under the Credit Agreement, any agreement
evidencing a Rate Management Transaction or any other Loan Document is rescinded
or must be otherwise restored or returned upon the insolvency, bankruptcy or
reorganization of the Borrower or otherwise, each of the Guarantors' obligations
hereunder with respect to such payment shall be reinstated as though such
payment had been due but not made at such time.

     SECTION 5.  GENERAL WAIVERS; ADDITIONAL WAIVERS.

     (A)  GENERAL WAIVERS. Each of the Guarantors irrevocably waives acceptance
hereof, presentment, demand or action on delinquency, protest, the benefit of
any statutes of limitations and, to the fullest extent permitted by law, any
notice not provided for herein, as well as any requirement that at any time any
action be taken by any Person against the Borrower, any other guarantor of the
Guaranteed Obligations, or any other Person.

     (B)  ADDITIONAL WAIVERS. Notwithstanding anything herein to the contrary,
each of the Guarantors hereby absolutely, unconditionally, knowingly, and
expressly waives:

          (i)    any right it may have to revoke this Guaranty as to future
     indebtedness or notice of acceptance hereof;

          (ii)   (1) notice of acceptance hereof; (2) notice of any loans or
     other financial accommodations made or extended under the Loan Documents or
     the creation or existence of any Guaranteed Obligations; (3) notice of the
     amount of the Guaranteed Obligations, subject, however, to each Guarantor's
     right to make inquiry of Agent and Holders of Secured Obligations to
     ascertain the amount of the Guaranteed Obligations at any reasonable time;
     (4) notice of any adverse change in the financial condition of the Borrower
     or of any other fact that might increase such Guarantor's risk hereunder;
     (5) notice of presentment for payment, demand, protest, and notice thereof
     as to any instruments among the Loan Documents; (6) notice of any Unmatured
     Default or Default;

<Page>

     and (7) all other notices (except if such notice is specifically required
     to be given to such Guarantor hereunder or under the Loan Documents) and
     demands to which each Guarantor might otherwise be entitled;

          (iii)  its right, if any, to require the Agent and the other Holders
     of Secured Obligations to institute suit against, or to exhaust any rights
     and remedies which the Agent and the other Holders of Secured Obligations
     has or may have against, the other Guarantors or any third party, or
     against any Collateral provided by the other Guarantors, or any third
     party; and each Guarantor further waives any defense arising by reason of
     any disability or other defense (other than the defense that the Guaranteed
     Obligations have been Paid in Full) of the other Guarantors or by reason of
     the cessation from any cause whatsoever of the liability of the other
     Guarantors in respect thereof;

          (iv)   (a) any rights to assert against the Agent and the other
     Holders of Secured Obligations any defense (legal or equitable), set-off,
     counterclaim, or claim which such Guarantor may now or at any time
     hereafter have against the other Guarantors or any other party liable to
     the Agent and the other Holders of Secured Obligations in respect of the
     Obligations (other than Payment in Full of the Guaranteed Obligations); (b)
     any defense, set-off, counterclaim, or claim, of any kind or nature,
     arising directly or indirectly from the present or future lack of
     perfection, sufficiency, validity, or enforceability of the Guaranteed
     Obligations or any security therefor; (c) any defense such Guarantor has to
     performance hereunder, and any right such Guarantor has to be exonerated,
     arising by reason of: the impairment or suspension of the Agent's and the
     other Holders of Secured Obligations' rights or remedies against the other
     Guarantors; the alteration by the Agent and the other Holders of Secured
     Obligations of the Guaranteed Obligations; any discharge of the other
     Guarantors' obligations to the Agent and the other Holders of Secured
     Obligations by operation of law as a result of the Agent's and the other
     Holders of Secured Obligations' intervention or omission; or the acceptance
     by the Agent and the other Holders of Secured Obligations of anything in
     partial satisfaction of the Guaranteed Obligations; and (d) the benefit of
     any statute of limitations affecting such Guarantor's liability hereunder
     or the enforcement thereof, and any act which shall defer or delay the
     operation of any statute of limitations applicable to the Guaranteed
     Obligations shall similarly operate to defer or delay the operation of such
     statute of limitations applicable to such Guarantor's liability hereunder;
     and

          (v)    any defense arising by reason of or deriving from (a) any claim
     or defense based upon an election of remedies by the Agent and the other
     Holders of Secured Obligations; or (b) any election by the Agent and the
     other Holders of Secured Obligations under Section 1111(b) of the
     Bankruptcy Code, to limit the amount of, or any collateral securing, its
     claim against the Guarantors:

     SECTION 6.  SUBORDINATION OF SUBROGATION. Until the Guaranteed Obligations
have been Paid in Full the Guarantors (i) shall have no right of subrogation
with respect to such Guaranteed Obligations and (ii) waive any right to enforce
any remedy which the LC Issuer, Holders of Secured Obligations or the Agent now
have or may hereafter have against the Borrower, any endorser or any guarantor
of all or any part of the Secured Obligations or any

<Page>

other Person, and until such time the Guarantors waive any benefit of, and any
right to participate in, any security or collateral given to the Holders of
Secured Obligations and the Agent to secure the payment or performance of all or
any part of the Guaranteed Obligations or any other liability of the Borrower to
the Holders of Secured Obligations. Should any Guarantor have the right,
notwithstanding the foregoing, to exercise its subrogation rights, each
Guarantor hereby expressly and irrevocably (A) subordinates any and all rights
at law or in equity to subrogation, reimbursement, exoneration, contribution,
indemnification or set off that the Guarantor may have until the Guaranteed
Obligations are Paid in Full and (B) waives any and all defenses available to a
surety, guarantor or accommodation co-obligor until the Guaranteed Obligations
are Paid in Full. Each Guarantor acknowledges and agrees that this subordination
is intended to benefit the Agent and the Holders of Secured Obligations and
shall not limit or otherwise affect such Guarantor's liability hereunder or the
enforceability of this Guaranty, and that the Agent, the Holders of Secured
Obligations and their respective successors and assigns are intended third party
beneficiaries of the waivers and agreements set forth in this SECTION 6.

     SECTION 7.  CONTRIBUTION WITH RESPECT TO GUARANTEED OBLIGATIONS.

     (a)  To the extent that any Guarantor shall make a payment under this
Guaranty (a "GUARANTOR PAYMENT") which, taking into account all other Guarantor
Payments then previously or concurrently made by any other Guarantor, exceeds
the amount which otherwise would have been paid by or attributable to such
Guarantor if each Guarantor had paid the aggregate Guaranteed Obligations
satisfied by such Guarantor Payment in the same proportion as such Guarantor's
"Allocable Amount" (as defined below) (as determined immediately prior to such
Guarantor Payment) bore to the aggregate Allocable Amounts of each of the
Guarantors as determined immediately prior to the making of such Guarantor
Payment, THEN, following Payment in Full of the Guaranteed Obligations, such
Guarantor shall be entitled to receive contribution and indemnification payments
from, and be reimbursed by, each other Guarantor for the amount of such excess,
PRO RATA based upon their respective Allocable Amounts in effect immediately
prior to such Guarantor Payment.

     (b)  As of any date of determination, the "Allocable Amount" of any
Guarantor shall be equal to the maximum amount of the claim which could then be
recovered from such Guarantor under this Guaranty without rendering such claim
voidable or avoidable under Section 548 of Chapter 11 of the Bankruptcy Code or
under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent
Conveyance Act or similar statute or common law.

     (c)  This SECTION 7 is intended only to define the relative rights of the
Guarantors, and nothing set forth in this SECTION 7 is intended to or shall
impair the obligations of the Guarantors, jointly and severally, to pay any
amounts as and when the same shall become due and payable in accordance with the
terms of this Guaranty.

     (d)  The parties hereto acknowledge that the rights of contribution and
indemnification hereunder shall constitute assets of the Guarantor or Guarantors
to which such contribution and indemnification is owing.

<Page>

     SECTION 8.  STAY OF ACCELERATION. If acceleration of the time for payment
of any amount payable by the Borrower under the Credit Agreement, any
counterparty to any agreement evidencing a Rate Management Transaction or any
other Loan Document is stayed upon the insolvency, bankruptcy or reorganization
of the Borrower or such counterparty, all such amounts otherwise subject to
acceleration under the terms of the Credit Agreement, any agreement evidencing a
Rate Management Transaction or any other Loan Document shall nonetheless be
payable by each of the Guarantors hereunder forthwith on demand by the Agent.

     SECTION 9.  NOTICES. All notices, requests and other communications to any
party hereunder shall be given in the manner prescribed in ARTICLE XIII of the
Credit Agreement with respect to the Agent at its notice address therein and,
with respect to any Guarantor, in the care of the Borrower at the address of the
Borrower set forth in the Credit Agreement, or such other address or telecopy
number as such party may hereafter specify for such purpose by notice to the
Agent in accordance with the provisions of such ARTICLE XIII.

     SECTION 10. NO WAIVERS. No failure or delay by the Agent or any Holders of
Secured Obligations in exercising any right, power or privilege hereunder shall
operate as a waiver thereof nor shall any single or partial exercise thereof
preclude any other or further exercise thereof or the exercise of any other
right, power or privilege. The rights and remedies provided in this Guaranty,
the Credit Agreement, any agreement evidencing a Rate Management Transaction and
the other Loan Documents shall be cumulative and not exclusive of any rights or
remedies provided by law.

     SECTION 11. SUCCESSORS AND ASSIGNS. This Guaranty is for the benefit of the
Agent and the Holders of Secured Obligations and their respective successors and
permitted assigns, PROVIDED, that (i) no Guarantor shall have any right to
assign its rights or obligations hereunder (except in connection with a
transaction permitted under the Credit Agreement) without the consent of all of
the Lenders, and any such assignment in violation of this SECTION 11 shall be
null and void; and (ii) in the event of an assignment of any amounts payable
under the Credit Agreement, any agreement evidencing a Rate Management
Transaction or the other Loan Documents in accordance with the respective terms
thereof, the rights hereunder, to the extent applicable to the indebtedness so
assigned, may be transferred with such indebtedness. This Guaranty shall be
binding upon each of the Guarantors and their respective successors and assigns.

     SECTION 12. CHANGES IN WRITING. Other than in connection with the addition
of additional Subsidiaries, which become parties hereto by executing a
Supplement hereto in the form attached as ANNEX I, neither this Guaranty nor any
provision hereof may be changed, waived, discharged or terminated orally, but
only in writing signed by each of the Guarantors and the Agent with the consent
of the Required Lenders under the Credit Agreement (or all of the Lenders if
required pursuant to the terms of Section 8.2 of the Credit Agreement).

     SECTION 13. CHOICE OF LAW. THIS GUARANTY AND THE LOAN DOCUMENTS (OTHER THAN
THOSE CONTAINING A CONTRARY EXPRESS CHOICE OF LAW PROVISION) SHALL BE GOVERNED
BY AND CONSTRUED IN

<Page>

ACCORDANCE WITH THE INTERNAL LAWS, INCLUDING SECTION 5-1401 OF THE GENERAL
OBLIGATIONS LAW OF THE STATE OF NEW YORK BUT OTHERWISE WITHOUT REGARD TO THE
CONFLICT OF LAWS PROVISIONS, OF THE STATE OF NEW YORK, BUT GIVING EFFECT TO
FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.

     SECTION 14. CONSENT TO JURISDICTION; JURY TRIAL.

     (A)  CONSENT TO JURISDICTION. EACH GUARANTOR HEREBY IRREVOCABLY SUBMITS TO
THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK STATE
COURT SITTING IN THE STATE, COUNTY AND CITY OF NEW YORK IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS AND EACH GUARANTOR
HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR
PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES
ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT,
ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN
INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE AGENT OR ANY
PARTY HERETO TO BRING PROCEEDINGS AGAINST ANY OTHER PARTY HERETO OR ANY HOLDER
OF SECURED OBLIGATIONS IN THE COURTS OF ANY OTHER JURISDICTION; PROVIDED THAT
EACH OF GUARANTOR AGREES THAT IT WILL NOT ASSERT ANY PERMISSIVE COUNTERCLAIMS IN
ANY PROCEEDING BROUGHT BY ANY OF THE AGENT, ANY LC ISSUER, ANY LENDER OR AN
OTHER HOLDER OF SECURED OBLIGATIONS IN ANY PROCEEDING BROUGHT BY SUCH PERSON TO
(1) REALIZE ON ANY SECURITY FOR THE OBLIGATIONS OR (2) TO ENFORCE A JUDGMENT OR
OTHER COURT ORDER IN FAVOR OF SUCH PERSON.

     (B)  WAIVER OF JURY TRIAL. EACH GUARANTOR AND THE AGENT HEREBY WAIVES TRIAL
BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER
(WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF,
RELATED TO, OR CONNECTED WITH THIS GUARANTY OR ANY OTHER LOAN DOCUMENT OR THE
RELATIONSHIP ESTABLISHED THEREUNDER.

     SECTION 15. NO STRICT CONSTRUCTION. The parties hereto have participated
jointly in the negotiation and drafting of this Guaranty. In the event an
ambiguity or question of intent or interpretation arises, this Guaranty shall be
construed as if drafted jointly by the parties hereto and no presumption or
burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any provisions of this Guaranty.

     SECTION 16. EXPENSES OF ENFORCEMENT, ETC. Subject to the terms of the
Credit Agreement, after the occurrence and during the continuance of a Default
under the Credit Agreement, the Lenders shall have the right at any time to
direct the Agent to commence enforcement proceedings with respect to the
Guaranteed Obligations. The Guarantors agree to reimburse the Agent and the
Holders of Secured Obligations for any out-of-pocket expenses (including outside
attorneys' and paralegals' fees and expenses of outside attorneys and

<Page>

paralegals for the Agent and the Holders of Secured Obligations, but only to the
extent such fees and disbursements were incurred by attorneys in a single law
firm (and any replacement or successor firm thereof) selected by the Agent), but
excluding any costs, charges or expenses with respect to taxes and amounts
relating thereto (payment with respect to which shall be governed solely and
exclusively by Section 3.5 of the Credit Agreement), paid or incurred by the
Agent or any Holders of Secured Obligations in connection with the collection
and enforcement of amounts due under the Loan Documents, including without
limitation this Guaranty. The Agent agrees to distribute payments received from
any of the Guarantors hereunder to the Holders of Secured Obligations on a pro
rata basis for application in accordance with the terms of the Credit Agreement.

     SECTION 17. SETOFF. In addition to, and without limitation of, any rights
of the Agent and the Holders of Secured Obligations under applicable law, if any
Default occurs and continues, any and all deposits (including all account
balances, whether provisional or final and whether or not collected or
available) and any other Indebtedness at any time held or owing by any Lender or
any Affiliate of any Lender to or for the credit or account of any Guarantor may
be offset and applied toward the payment of the Guaranteed Obligations owing to
such Holder of Secured Obligations, whether or not the Secured Obligations, or
any part thereof, shall then be due, and each Holder of Secured Obligations
shall endeavor to give notice of any such set-off to the Borrower, provided that
the failure of any Holder of Secured Obligations to give such notice shall not
in any way limit any Holder of Secured Obligations' rights under this
Section 17.

     SECTION 18. FINANCIAL INFORMATION. Each Guarantor hereby assumes
responsibility for keeping itself informed of the financial condition of the
Borrower and any and all endorsers and/or other Guarantors of all or any part of
the Guaranteed Obligations, and of all other circumstances bearing upon the risk
of nonpayment of the Guaranteed Obligations, or any part thereof, that diligent
inquiry would reveal, and each Guarantor hereby agrees that none of the Holders
of Secured Obligations or the Agent shall have any duty to advise such Guarantor
of information known to any of them regarding such condition or any such
circumstances. In the event any Holder of Secured Obligations or the Agent, in
its sole discretion, undertakes at any time or from time to time to provide any
such information to a Guarantor, such Holder of Secured Obligations or the Agent
shall be under no obligation (i) to undertake any investigation not a part of
its regular business routine, (ii) to disclose any information which such Holder
of Secured Obligations or the Agent, pursuant to accepted or reasonable
commercial finance or banking practices, wishes to maintain confidential or
(iii) to make any other or future disclosures of such information or any other
information to such Guarantor.

     SECTION 19. SEVERABILITY. Wherever possible, each provision of this
Guaranty shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Guaranty shall be prohibited by or
invalid under such law, such provision shall be ineffective to the extent of
such prohibition or invalidity without invalidating the remainder of such
provision or the remaining provisions of this Guaranty.

     SECTION 20. MERGER. This Guaranty represents the final agreement of each of
the Guarantors with respect to the matters contained herein and may not be
contradicted by evidence

<Page>

of prior or contemporaneous agreements, or subsequent oral agreements, between
the Guarantor and any Holder of Secured Obligations or the Agent.

     SECTION 21. HEADINGS. Section headings in this Guaranty are for convenience
of reference only and shall not govern the interpretation of any provision of
this Guaranty.

            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

<Page>

          IN WITNESS WHEREOF, each Initial Guarantor has caused this Guaranty to
be duly executed by its authorized officer as of the day and year first above
written.

UNITED STATIONERS INC.                      AZERTY INCORPORATED

By:                                         By:
    ---------------------------------           --------------------------------
Name: Brian S. Cooper                       Name: Brian S. Cooper
Title: Senior Vice President and Treasurer  Title: Vice President and Treasurer

LAGASSE, INC.                               UNITED STATIONERS TECHNOLOGY
                                            SERVICES LLC

By:                                         By:
    ---------------------------------           --------------------------------
Name: Brian S. Cooper                       Name: Brian S. Cooper
Title: Vice President and Treasurer         Title: Vice President and Treasurer

UNITED STATIONERS FINANCIAL
SERVICES LLC

By:
    ---------------------------------
Name: Brian S. Cooper
Title: Vice President and Treasurer

                  Signature Page to United Stationers Guaranty

<Page>

Acknowledged this 21st day of March, 2003

BANK ONE, NA (MAIN OFFICE
CHICAGO), as Agent

By:
   ----------------------------------
   Name: Molly Morawski
   Title: Director, Capital Markets

                  Signature Page to United Stationers Guaranty

<Page>

                               ANNEX I TO GUARANTY

     Reference is hereby made to the Guaranty (as the same may be amended,
restated, supplemented or otherwise modified from time to time, the "GUARANTY"),
dated as of March 21, 2003, made by each of United Stationers Inc., a Delaware
corporation (the "Parent"), Azerty Incorporated, a Delaware corporation,
Lagasse, Inc., a Louisiana corporation, United Stationers Financial Services
LLC, an Illinois limited liability company and United Stationers Technology
Services LLC, an Illinois limited liability company (each an "INITIAL
GUARANTOR", and together with any additional Domestic Subsidiaries which become
parties to the Guaranty by executing a Supplement thereto substantially similar
in form and substance hereto, the "GUARANTORS"), in favor of the Agent, for the
ratable benefit of the Holders of Secured Obligations, under the Credit
Agreement. Each capitalized term used herein and not defined herein shall have
the meaning given to it in the Guaranty. By its execution below, the
undersigned, [NAME OF NEW GUARANTOR], a [corporation] [partnership] [limited
liability company], agrees to become, and does hereby become, a Guarantor under
the Guaranty and agrees to be bound by such Guaranty as if originally a party
thereto. By its execution below, the undersigned represents and warrants as to
itself that all of the representations and warranties contained in SECTION 1 of
the Guaranty are true and correct in all respects as of the date hereof.

     IN WITNESS WHEREOF, [NAME OF NEW GUARANTOR], a [corporation] [partnership]
[limited liability company] has executed and delivered this Annex I counterpart
to the Guaranty as of this __________ day of _________, ____.

[NAME OF NEW GUARANTOR]

By:
   ----------------------------------
Title:
      -------------------------------

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